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v3.25.2

Fair Value Measurements (Fair Value of Financial Assets and Liabilities) (Details 1) - USD ($) $ in Thousands | Jun. 30, 2025 | Dec. 31, 2024
--- | --- | ---
Assets |  |  |
Money Market Investments |  | $ 6,000 | $ 3,900
Marketable equity securities |  | 889,515 | 852,434
Fair Value, Recurring [Member] |  |  |
Assets |  |  |
Money Market Investments | [1] | 6,008 | 3,908
Marketable equity securities | [2] | 889,515 | 852,434
Other current investments | [3] | 8,633 | 6,309
Foreign exchange swap | [4] |  | 710
Total Financial Assets |  | 904,156 | 863,361
Liabilities |  |  |
Contingent consideration liabilities | [5] | 1,349 | 1,419
Interest rate swaps | [6] | 2,475 | 1,419
Mandatorily redeemable noncontrolling interest | [7] | 21,516 | 159,548
Total Financial Liabilities |  | 25,340 | 162,386
Level 1 | Fair Value, Recurring [Member] |  |  |
Assets |  |  |
Money Market Investments | [1] | 0 | 0
Marketable equity securities | [2] | 889,515 | 852,434
Other current investments | [3] | 0 | 0
Foreign exchange swap | [4] |  | 0
Total Financial Assets |  | 889,515 | 852,434
Liabilities |  |  |
Contingent consideration liabilities | [5] | 0 | 0
Interest rate swaps | [6] | 0 | 0
Mandatorily redeemable noncontrolling interest | [7] | 0 | 0
Total Financial Liabilities |  | 0 | 0
Level 2 | Fair Value, Recurring [Member] |  |  |
Assets |  |  |
Money Market Investments | [1] | 6,008 | 3,908
Marketable equity securities | [2] | 0 | 0
Other current investments | [3] | 8,633 | 6,309
Foreign exchange swap | [4] |  | 710
Total Financial Assets |  | 14,641 | 10,927
Liabilities |  |  |
Contingent consideration liabilities | [5] | 0 | 0
Interest rate swaps | [6] | 2,475 | 1,419
Mandatorily redeemable noncontrolling interest | [7] | 0 | 0
Total Financial Liabilities |  | 2,475 | 1,419
Level 3 | Fair Value, Recurring [Member] |  |  |
Assets |  |  |
Money Market Investments | [1] | 0 | 0
Marketable equity securities | [2] | 0 | 0
Other current investments | [3] | 0 | 0
Foreign exchange swap | [4] |  | 0
Total Financial Assets |  | 0 | 0
Liabilities |  |  |
Contingent consideration liabilities | [5] | 1,349 | 1,419
Interest rate swaps | [6] | 0 | 0
Mandatorily redeemable noncontrolling interest | [7] | 21,516 | 159,548
Total Financial Liabilities |  | $ 22,865 | $ 160,967
[1] | The Company’s money market investments are included in cash and cash equivalents and the value considers the liquidity of the counterparty.
[2] | The Company’s investments in marketable equity securities are held in common shares of U.S. corporations that are actively traded on U.S. stock exchanges. Price quotes for these shares are readily available.
[3] | Includes mutual funds, which are valued using a market approach based on the quoted market prices of the security or inputs that include quoted market prices for similar instruments.
[4] | Included in Other current assets and valued based on a valuation model that calculates the differential between the contract price and the market-based forward rate.
[5] | Included in Accounts payable, vehicle floor plan payable and accrued liabilities and Other Liabilities. The Company determined the fair value of the contingent consideration liabilities using either a Monte Carlo simulation, Black-Scholes model, or probability-weighted analysis depending on the type of target included in the contingent consideration requirements (revenue, EBITDA, client retention). All analyses included estimated financial projections for the acquired businesses and acquisition-specific discount rates.
[6] | Included in Other Liabilities. The Company utilized a market approach model using the notional amount of the interest rate swaps multiplied by the observable inputs of time to maturity and market interest rates.
[7] | The fair value of the mandatorily redeemable noncontrolling interest is based on the fair value of the underlying subsidiaries owned by GHC One and GHC Two, after taking into account any debt and other noncontrolling interests of its subsidiary investments. The fair value of the owned subsidiaries is determined using enterprise value analyses which include an equal weighing between guideline public company and discounted cash flow analyses.

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