Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

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)	2025			2024
Numerator:
Numerator for basic earnings per share:
Net income attributable to Graham Holdings Company common stockholders	$	23,894		$	124,380
Less: Dividends paid-common stock outstanding and unvested restricted shares	(15,662)			(15,352)
Undistributed earnings	8,232			109,028
Percent allocated to common stockholders	99.38		%	99.33		%
	8,182			108,295
Add: Dividends paid-common stock outstanding	15,563			15,250
Numerator for basic earnings per share	$	23,745		$	123,545
Add: Additional undistributed earnings due to dilutive stock options	—			4
Numerator for diluted earnings per share	$	23,745		$	123,549
Denominator:
Denominator for basic earnings per share:
Weighted average shares outstanding	4,320			4,432
Add: Effect of dilutive stock options	38			25
Denominator for diluted earnings per share	4,358			4,457
Graham Holdings Company Common Stockholders:
Basic earnings per share	$	5.50		$	27.87
Diluted earnings per share	$	5.45		$	27.72

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Earnings per share amounts may not recalculate due to rounding.

Antidilutive Weighted Average Restricted Stock

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)	2025	2024
Weighted average restricted stock	12	18