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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2017
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)
2017
 
2016
Numerator:
 
 
 
Numerator for basic earnings per share:
  
 
  
Net income attributable to Graham Holdings Company common stockholders
$
21,086

 
$
37,780

Less: Dividends paid-common stock outstanding and unvested restricted shares
(14,202
)
 
(13,758
)
Undistributed earnings
6,884

 
24,022

Percent allocated to common stockholders
99.04
%
 
98.64
%
 
6,818

 
23,695

Add: Dividends paid-common stock outstanding
14,066

 
13,574

Numerator for basic earnings per share
$
20,884

 
$
37,269

Add: Additional undistributed earnings due to dilutive stock options
—

 
2

Numerator for diluted earnings per share
$
20,884

 
$
37,271

Denominator:
 
 
 
Denominator for basic earnings per share:


 


Weighted average shares outstanding
5,535

 
5,623

Add: Effect of dilutive stock options
34

 
29

Denominator for diluted earnings per share
5,569

 
5,652

Graham Holdings Company Common Stockholders:
  
 
  
Basic earnings per share
$
3.77

 
$
6.63

Diluted earnings per share
$
3.75

 
$
6.59
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)
2017
 
2016
Weighted average restricted stock
28

 
38