Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

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)	2019			2018			2019			2018
Numerator:
Numerator for basic earnings per share:
Net income attributable to Graham Holdings Company common stockholders	$	57,081		$	46,566		$	138,829		$	89,457
Less: Dividends paid-common stock outstanding and unvested restricted shares	(7,388		)	(6,948		)	(22,167		)	(21,587		)
Undistributed earnings	49,693			39,618			116,662			67,870
Percent allocated to common stockholders	99.43		%	99.33		%	99.43		%	99.33		%
	49,410			39,352			115,997			67,416
Add: Dividends paid-common stock outstanding	7,346			6,901			22,041			21,444
Numerator for basic earnings per share	$	56,756		$	46,253		$	138,038		$	88,860
Add: Additional undistributed earnings due to dilutive stock options	2			2			5			3
Numerator for diluted earnings per share	$	56,758		$	46,255		$	138,043		$	88,863
Denominator:
Denominator for basic earnings per share:
Weighted average shares outstanding	5,285			5,325			5,285			5,380
Add: Effect of dilutive stock options	44			37			43			37
Denominator for diluted earnings per share	5,329			5,362			5,328			5,417
Graham Holdings Company Common Stockholders:
Basic earnings per share	$	10.74		$	8.69		$	26.12		$	16.52
Diluted earnings per share	$	10.65		$	8.63		$	25.91		$	16.40

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)	2019	2018	2019	2018
Weighted average restricted stock	12	21	11	24