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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Summary of Earnings Per Share from Continuing Operations, Basic and Diluted
The following reflects the Company's income (loss) from continuing operations and share data used in the basic and diluted earnings (loss) per share computations using the two-class method:
 
Three Months Ended 
 September 30
 
Nine Months Ended 
 September 30
(in thousands, except per share amounts)
2016
 
2015
 
2016
 
2015
Numerator:
 
 
 
 
 
 
 
Numerator for basic earnings per share:
  
 
  
 
  
 
  
Income (loss) from continuing operations attributable to Graham Holdings Company common stockholders
$
33,126

 
$
(231,222
)
 
$
131,672

 
$
(194,625
)
Less: Dividends paid-common stock outstanding and unvested restricted shares
(6,796
)
 
(6,736
)
 
(27,329
)
 
(53,090
)
Undistributed earnings (loss)
26,330

 
(237,958
)
 
104,343

 
(247,715
)
Percent allocated to common stockholders(1)
98.70
%
 
100.00
%
 
98.70
%
 
100.00
%
 
25,987

 
(237,958
)
 
102,987

 
(247,715
)
Add: Dividends paid-common stock outstanding
6,708

 
6,621

 
26,976

 
52,180

Numerator for basic earnings (loss) per share
$
32,695

 
$
(231,337
)
 
$
129,963

 
$
(195,535
)
Add: Additional undistributed earnings due to dilutive stock options
2

 
—

 
7

 
—

Numerator for diluted earnings (loss) per share
$
32,697

 
$
(231,337
)
 
$
129,970

 
$
(195,535
)
Denominator:
  

 
  

 
 
 
 
Denominator for basic earnings (loss) per share:


 


 


 


Weighted average shares outstanding
5,544

 
5,738

 
5,570

 
5,721

Add: Effect of dilutive stock options
30

 
—

 
30

 
—

Denominator for diluted earnings (loss) per share
5,574

 
5,738

 
5,600

 
5,721

Graham Holdings Company Common Stockholders:
  
 
  
 
  
 
  
Basic earnings (loss) per share from continuing operations
$
5.90

 
$
(40.32
)
 
$
23.33

 
$
(34.18
)
Diluted earnings (loss) per share from continuing operations
$
5.87

 
$
(40.32
)
 
$
23.21

 
$
(34.18
)
____________
(1)
Percent of undistributed losses allocated to common stockholders is 100% in the third quarter and first nine months of 2015 as participating securities are not contractually obligated to share in losses.
Antidilutive Weighted Average Restricted Stock and Options
Diluted earnings (loss) per share excludes the following weighted average potential common shares, as the effect would be antidilutive, as computed under the treasury stock method:
 
Three Months Ended 
 September 30
 
Nine Months Ended 
 September 30
(in thousands)
2016
 
2015
 
2016
 
2015
Weighted average restricted stock
42

 
50

 
40

 
53

Weighted average stock options
—

 
49

 
—

 
37