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Earnings Per Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

8. EARNINGS PER SHARE

 

The Company's earnings per share from continuing operations (basic and diluted) are presented below:

    Three Months Ended  Nine Months Ended
    September 30, September 30,
(in thousands, except per share amounts) 2013 2012 2013 2012
Income from continuing operations attributable to The             
 Washington Post Company common stockholders $ 56,016 $ 56,257 $ 134,253 $ 122,129
Less: Amount attributable to participating securities   (1,444)   (1,117)   (3,462)   (2,398)
Basic income from continuing operations attributable to            
 The Washington Post Company common stockholders $ 54,572 $ 55,140 $ 130,791 $ 119,731
               
Plus: Amount attributable to participating securities   1,444   1,117   3,462   2,398
Diluted income from continuing operations attributable to            
 The Washington Post Company common stockholders $ 56,016 $ 56,257 $ 134,253 $ 122,129
               
Basic weighted average shares outstanding   7,231   7,272   7,229   7,405
Plus: Effect of dilutive shares            
 Stock options   15   ―   8   ―
 Restricted stock   91   104   79   103
Diluted weighted average shares outstanding   7,337   7,376   7,316   7,508
               
Income Per Share from Continuing Operations Attributable            
 to The Washington Post Company Common Stockholders:            
  Basic $ 7.55 $ 7.58 $ 18.09 $ 16.17
  Diluted $ 7.53 $ 7.58 $ 18.07 $ 16.17

For the three and nine months ended September 30, 2013 and 2012, the basic earnings per share computed under the two-class method is lower than the diluted earnings per share computed under the treasury stock method for participating securities, resulting in the presentation of the lower amount in diluted earnings per share. The diluted earnings per share amounts for the three and nine months ended September 30, 2013 exclude the effects of 13,000 and 63,000 stock options outstanding, respectively, as their inclusion would have been antidilutive. The diluted earnings per share amounts for the three and nine months ended September 30, 2013 exclude the effects of 8,800 restricted stock awards, as their inclusion would have been antidilutive. The diluted earnings per share amounts for the three and nine months ended September 30, 2012 exclude the effects of 123,494 and 111,994 stock options outstanding, respectively, as their inclusion would have been antidilutive. The diluted earnings per share amounts for the three and nine months ended September 30, 2012 exclude the effects of 51,500 restricted stock awards, as their inclusion would have been antidilutive.

 

In the three and nine months ended September 30, 2012, the Company declared regular dividends totaling $2.45 and $9.80 per share, respectively. In December 2012, the Company declared and paid an accelerated cash dividend totaling $9.80 per share, in lieu of regular quarterly dividends that the Company otherwise would have declared and paid in calendar year 2013.