Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Summary of Earnings Per Share, Basic and Diluted

The following reflects the Company’s net income and share data used in the basic and diluted earnings per share computations using the two-class method:

	Three Months Ended   June 30						Six Months Ended   June 30
(in thousands, except per share amounts)	2018			2017			2018			2017
Numerator:
Numerator for basic earnings per share:
Net income attributable to Graham Holdings Company common stockholders	$	46,566		$	41,996		$	89,457		$	63,082
Less: Dividends paid-common stock outstanding and unvested restricted shares	(6,948		)	(7,080		)	(21,587		)	(21,282		)
Undistributed earnings	39,618			34,916			67,870			41,800
Percent allocated to common stockholders	99.33		%	99.06		%	99.33		%	99.06		%
	39,352			34,588			67,416			41,407
Add: Dividends paid-common stock outstanding	6,901			7,013			21,444			21,082
Numerator for basic earnings per share	$	46,253		$	41,601		$	88,860		$	62,489
Add: Additional undistributed earnings due to dilutive stock options	2			3			3			3
Numerator for diluted earnings per share	$	46,255		$	41,604		$	88,863		$	62,492
Denominator:
Denominator for basic earnings per share:
Weighted average shares outstanding	5,325			5,539			5,380			5,537
Add: Effect of dilutive stock options	37			38			37			36
Denominator for diluted earnings per share	5,362			5,577			5,417			5,573
Graham Holdings Company Common Stockholders:
Basic earnings per share	$	8.69		$	7.51		$	16.52		$	11.29
Diluted earnings per share	$	8.63		$	7.46		$	16.40		$	11.21

Antidilutive Weighted Average Restricted Stock and Options

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:

	Three Months Ended   June 30		Six Months Ended   June 30
(in thousands)	2018	2017	2018	2017
Weighted average restricted stock	21	29	24	28