Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2022

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   March 31
(in thousands, except per share amounts)	2022			2021
Numerator:
Numerator for basic earnings per share:
Net income attributable to Graham Holdings Company common stockholders	$	95,624		$	112,450
Less: Dividends-common stock outstanding and unvested restricted shares	(15,497)			(15,106)
Undistributed earnings	80,127			97,344
Percent allocated to common stockholders	99.35		%	99.33		%
	79,611			96,693
Add: Dividends-common stock outstanding	15,397			15,005
Numerator for basic earnings per share	$	95,008		$	111,698
Add: Additional undistributed earnings due to dilutive stock options	1			1
Numerator for diluted earnings per share	$	95,009		$	111,699
Denominator:
Denominator for basic earnings per share:
Weighted average shares outstanding	4,871			4,967
Add: Effect of dilutive stock options	14			10
Denominator for diluted earnings per share	4,885			4,977
Graham Holdings Company Common Stockholders:
Basic earnings per share	$	19.50		$	22.49
Diluted earnings per share	$	19.45		$	22.44

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Earnings per share amounts may not recalculate due to rounding.

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   March 31
(in thousands)	2022	2021
Weighted average restricted stock	16	9