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(Loss) Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Summary of (Loss) Earnings Per Share, Basic and Diluted
The following reflects the Company’s net (loss) income and share data used in the basic and diluted (loss) earnings per share computations using the two-class method:
 
Three Months Ended 
 March 31
(in thousands, except per share amounts)
2020
 
2019
Numerator:
 
 
 
Numerator for basic (loss) earnings per share:
  
 
  
Net (loss) income attributable to Graham Holdings Company common stockholders
$
(33,245
)
 
$
81,748

Less: Dividends paid-common stock outstanding and unvested restricted shares
(15,289
)
 
(14,779
)
Undistributed (loss) earnings
(48,534
)
 
66,969

Percent allocated to common stockholders (1)
100.00
%
 
99.43
%
 
(48,534
)
 
66,588

Add: Dividends paid-common stock outstanding
15,205

 
14,695

Numerator for basic (loss) earnings per share
$
(33,329
)
 
$
81,283

Add: Additional undistributed earnings due to dilutive stock options
—

 
3

Numerator for diluted (loss) earnings per share
$
(33,329
)
 
$
81,286

Denominator:
 
 
 
Denominator for basic (loss) earnings per share:


 


Weighted average shares outstanding
5,274

 
5,284

Add: Effect of dilutive stock options
—

 
42

Denominator for diluted (loss) earnings per share
5,274

 
5,326

Graham Holdings Company Common Stockholders:
  
 
  
Basic (loss) earnings per share
$
(6.32
)
 
$
15.38

Diluted (loss) earnings per share
$
(6.32
)
 
$
15.26


____________
(1)
Percent of undistributed losses allocated to common stockholders is 100% in the first three months of 2020 as participating securities are not contractually obligated to share in losses.
Antidilutive Weighted Average Restricted Stock and Options
Diluted (loss) 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 
 March 31
(in thousands)
2020
 
2019
Weighted average restricted stock
12

 
10

Weighted average stock options
27

 
—