Earnings Per Share (Tables)

9 Months Ended

Sep. 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   September 30						Nine Months Ended   September 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	$	125,064		$	24,784		$	214,521		$	87,866
Less: Dividends paid-common stock outstanding and unvested restricted shares	(7,048		)	(7,047		)	(28,635		)	(28,329		)
Undistributed earnings	118,016			17,737			185,886			59,537
Percent allocated to common stockholders	99.34		%	99.07		%	99.34		%	99.07		%
	117,235			17,572			184,657			58,981
Add: Dividends paid-common stock outstanding	7,001			6,981			28,447			28,066
Numerator for basic earnings per share	$	124,236		$	24,553		$	213,104		$	87,047
Add: Additional undistributed earnings due to dilutive stock options	5			1			8			4
Numerator for diluted earnings per share	$	124,241		$	24,554		$	213,112		$	87,051
Denominator:
Denominator for basic earnings per share:
Weighted average shares outstanding	5,302			5,518			5,354			5,530
Add: Effect of dilutive stock options	35			36			36			37
Denominator for diluted earnings per share	5,337			5,554			5,390			5,567
Graham Holdings Company Common Stockholders:
Basic earnings per share	$	23.43		$	4.45		$	39.81		$	15.74
Diluted earnings per share	$	23.28		$	4.42		$	39.54		$	15.64

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   September 30		Nine Months Ended   September 30
(in thousands)	2018	2017	2018	2017
Weighted average restricted stock	21	30	23	29