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Capital Stock, Stock Awards and Stock Options (Tables)
 12 Months Ended
Dec. 31, 2014
Capital Stock, Stock Awards, and Stock Options [Abstract]  
Activity Related to Stock Awards
Activity related to stock awards under these incentive compensation plans was as follows:
 
Year Ended December 31
 
2014
 
2013
 
2012
 
Number of Shares
 
Average Grant-Date Fair Value
 
Number of Shares
 
Average Grant-Date Fair Value
 
Number of Shares
 
Average Grant-Date Fair Value
Beginning of year, unvested
114,479

 
$
424.65

 
207,917

 
$
350.21

 
77,319

 
$
424.45

Awarded
21,114

 
683.44

 
70,165

 
562.29

 
145,348

 
321.56

Vested
(11,098
)
 
523.95

 
(71,585
)
 
515.09

 
(7,134
)
 
499.06

Forfeited
(7,384
)
 
396.91

 
(92,018
)
 
300.86

 
(7,616
)
 
417.79

End of Year, Unvested
117,111

 
463.64

 
114,479

 
424.65

 
207,917

 
350.21
Activity Related to Stock Options
Activity related to options outstanding was as follows:
 
Year Ended December 31
 
2014
 
2013
 
2012
 
Number of Shares
 
Average Option Price
 
Number of Shares
 
Average Option Price
 
Number of Shares
 
Average Option Price
Beginning of year
121,694

 
$
469.76

 
125,694

 
$
478.32

 
129,044

 
$
494.95

Granted
55,000

 
1,070.43

 
15,000

 
373.03

 
7,500

 
378.00

Exercised
(19,125
)
 
409.44

 
(14,500
)
 
391.83

 
—

 
—

Expired or forfeited
(5,875
)
 
791.81

 
(4,500
)
 
637.53

 
(10,850
)
 
605.82

End of Year
151,694

 
682.68

 
121,694

 
469.76

 
125,694

 
478.32
Information related to Stock Options Outstanding and Exercisable
Information related to stock options outstanding and exercisable at December 31, 2014, is as follows:
 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Shares Outstanding at 12/31/2014
 
Weighted
Average
Remaining
Contractual
Life (years)
 
Weighted
Average
Exercise
Price
 
Shares Exercisable at 12/31/2014
 
Weighted
Average
Remaining
Contractual
Life (years)
 
Weighted
Average
Exercise
Price
$369–396
 
32,000

 
6.8
 
$
383.37

 
18,000

 
5.8

 
$
390.58

419–439
 
10,694

 
4.5
 
423.05

 
10,694

 
4.5

 
423.05

503
 
50,000

 
6.2
 
502.58

 
37,500

 
6.2

 
502.58

652–663
 
7,000

 
7.4
 
659.65

 
2,000

 
3.4

 
651.91

730
 
2,000

 
1.9
 
729.67

 
2,000

 
1.9

 
729.67

1,111
 
50,000

 
9.8
 
1,111.20

 
—

 
—

 
—

 
 
151,694

 
7.4
 
682.68

 
70,194

 
5.6

 
427.47
Fair Value of Options Assumptions
The fair value of options at date of grant was estimated using the Black-Scholes method utilizing the following assumptions:
 
2014
 
2013
 
2012
Expected life (years)
7–8
 
7
 
7
Interest rate
2.15%–2.45%
 
1.31%
 
1.04%–1.27%
Volatility
30.75%–32.10%
 
31.80%
 
31.71%–31.80%
Dividend yield
1.30%–1.54%
 
2.63%
 
2.54%–2.60%
Summary of Earnings Per Share from Continuing Operations, Basic and Diluted
The following reflects the Company’s income from continuing operations and share data used in the basic and diluted earnings per share computations using the two-class method:
 
Year Ended December 31
(in thousands, except per share amounts)
2014
 
2013
 
2012
Numerator:
 
 
 
 
 
Numerator for basic earnings per share:
 
 
 
 
 
Income from continuing operations attributable to Graham Holdings Company common stockholders
$
920,747

 
$
171,995

 
$
50,323

Less: Dividends paid–common stock outstanding and unvested restricted shares
(67,267
)
 
—

 
(146,432
)
Undistributed earnings (losses)
853,480

 
171,995

 
(96,109
)
Percent allocated to common stockholders (1)
97.98
%
 
98.45
%
 
100.00
%
 
836,246

 
169,329

 
(96,109
)
Add: Dividends paid–common stock outstanding
66,012

 
—

 
143,175

Numerator for basic earnings per share
902,258

 
169,329

 
47,066

Add: Additional undistributed earnings due to dilutive stock options
79

 
5

 
—

Numerator for diluted earnings per share
$
902,337

 
$
169,334

 
$
47,066

Denominator:
 
 
 
 
 
Denominator for basic earnings per share:
 
 
 
 
 
Weighted average shares outstanding
6,470

 
7,238

 
7,360

Add: Effect of dilutive stock options
27

 
12

 
—

Denominator for diluted earnings per share
6,497

 
7,250

 
7,360

Graham Holdings Company Common Stockholders:
 

 
 

 
 

Basic earnings per share from continuing operations
$
139.44

 
$
23.39

 
$
6.40

Diluted earnings per share from continuing operations
$
138.88

 
$
23.36

 
$
6.40

____________
(1)
Percent of undistributed losses allocated to common stockholders is 100% in 2012 as participating securities are not contractually obligated to share in losses.
Antidilutive Weighted Average Restricted Stock [Table Text Block]
Diluted earnings per share excludes the following weighted average potential common shares, as the effect would be antidilutive, as computed under the treasury stock method:
 
Year Ended December 31
(in thousands)
2014
 
2013
 
2012
Weighted average restricted stock
62

 
83

 
44