Earnings Per Share (Tables)

9 Months Ended

Sep. 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   September 30						Nine Months Ended   September 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	$	43,145		$	125,064		$	181,974		$	214,521
Less: Dividends paid-common stock outstanding and unvested restricted shares	(7,386		)	(7,048		)	(29,554		)	(28,635		)
Undistributed earnings	35,759			118,016			152,420			185,886
Percent allocated to common stockholders	99.44		%	99.34		%	99.44		%	99.34		%
	35,559			117,235			151,570			184,657
Add: Dividends paid-common stock outstanding	7,345			7,001			29,389			28,447
Numerator for basic earnings per share	$	42,904		$	124,236		$	180,959		$	213,104
Add: Additional undistributed earnings due to dilutive stock options	2			5			7			8
Numerator for diluted earnings per share	$	42,906		$	124,241		$	180,966		$	213,112
Denominator:
Denominator for basic earnings per share:
Weighted average shares outstanding	5,285			5,302			5,285			5,354
Add: Effect of dilutive stock options	44			35			43			36
Denominator for diluted earnings per share	5,329			5,337			5,328			5,390
Graham Holdings Company Common Stockholders:
Basic earnings per share	$	8.12		$	23.43		$	34.24		$	39.81
Diluted earnings per share	$	8.05		$	23.28		$	33.96		$	39.54

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)	2019	2018	2019	2018
Weighted average restricted stock	14	21	12	23