Summary of Quarterly Operating Results and Comprehensive Income (Loss) (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Results of Operations and Comprehensive Income (Loss)

Quarterly results of operations and comprehensive income (loss) for the year ended December 31, 2020, is as follows:

(in thousands, except per share amounts)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Operating Revenues
Sales of services	$	516,637	$	483,595	$	492,399	$	563,597
Sales of goods	215,620		169,276		224,583		223,414
	732,257		652,871		716,982		787,011
Operating Costs and Expenses
Cost of services sold	333,049		298,578		298,250		309,364
Cost of goods sold	166,701		136,825		177,734		191,605
Selling, general and administrative	177,152		162,840		166,207		209,202
Depreciation of property, plant and equipment	16,704		22,913		18,481		16,159
Amortization of intangible assets	14,165		14,327		14,150		14,138
Impairment of goodwill and other long-lived assets	16,401		11,511		1,916		342
	724,172		646,994		676,738		740,810
Income from Operations	8,085		5,877		40,244		46,201
Equity in (losses) earnings of affiliates, net	(1,547)		1,182		4,092		2,937
Interest income	1,151		954		890		876
Interest expense	(7,678)		(7,377)		(7,247)		(16,008)
Non-operating pension and postretirement benefit income, net	18,403		12,136		10,489		18,287
(Loss) gain on marketable equity securities, net	(100,393)		39,890		59,364		61,926
Other income, net	2,688		8,100		222		203,524
(Loss) Income Before Income Taxes	(79,291)		60,762		108,054		317,743
(Benefit from) Provision for Income Taxes	(45,400)		41,900		30,000		80,800
Net (Loss) Income	(33,891)		18,862		78,054		236,943
Net Loss (Income) Attributable to Noncontrolling Interests	646		(8)		(439)		198
Net (Loss) Income Attributable to Graham Holdings Company Common Stockholders	$	(33,245)	$	18,854	$	77,615	$	237,141
Quarterly Comprehensive (Loss) Income	$	(71,188)	$	35,922	$	98,878	$	536,772
Per Share Information Attributable to Graham Holdings Company Common Stockholders
Basic net (loss) income per common share	$	(6.32)	$	3.61	$	15.25	$	47.45
Basic average number of common shares outstanding	5,274		5,196		5,060		4,970
Diluted net (loss) income per common share	$	(6.32)	$	3.60	$	15.22	$	47.34
Diluted average number of common shares outstanding	5,274		5,201		5,072		4,982

The sum of the four quarters may not necessarily be equal to the annual amounts reported in the Consolidated Statements of Operations due to rounding.

Quarterly results of operations and comprehensive income for the year ended December 31, 2019, is as follows:

(in thousands, except per share amounts)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Operating Revenues
Sales of services	$	516,744	$	539,644	$	522,195	$	532,452
Sales of goods	175,455		197,958		216,625		231,026
	692,199		737,602		738,820		763,478
Operating Costs and Expenses
Cost of services sold	318,474		326,756		345,476		325,222
Cost of goods sold	132,453		153,129		169,599		177,137
Selling, general and administrative	174,686		172,297		178,182		192,494
Depreciation of property, plant and equipment	13,523		13,884		15,351		16,495
Amortization of intangible assets	13,060		12,880		13,572		13,731
Impairment of long-lived assets	—		693		372		8,087
	652,196		679,639		722,552		733,166
Income from Operations	40,003		57,963		16,268		30,312
Equity in earnings of affiliates, net	1,679		1,467		4,683		3,835
Interest income	1,700		1,579		1,474		1,398
Interest expense	(7,425)		(8,386)		(6,776)		(7,192)
Non-operating pension and postretirement benefit income, net	19,928		12,253		19,556		111,061
Gain on marketable equity securities, net	24,066		7,791		17,404		49,407
Other income (expense), net	29,351		1,228		5,556		(3,704)
Income Before Income Taxes	109,302		73,895		58,165		185,117
Provision for Income Taxes	27,600		16,700		15,200		39,100
Net Income	81,702		57,195		42,965		146,017
Net Loss (Income) Attributable to Noncontrolling Interests	46		(114)		180		(136)
Net Income Attributable to Graham Holdings Company Common Stockholders	$	81,748	$	57,081	$	43,145	$	145,881
Quarterly Comprehensive Income	$	90,038	$	44,986	$	25,059	$	267,238
Per Share Information Attributable to Graham Holdings Company Common Stockholders
Basic net income per common share	$	15.38	$	10.74	$	8.12	$	27.45
Basic average number of common shares outstanding	5,284		5,285		5,285		5,284
Diluted net income per common share	$	15.26	$	10.65	$	8.05	$	27.25
Diluted average number of common shares outstanding	5,326		5,329		5,329		5,324

The sum of the four quarters may not necessarily be equal to the annual amounts reported in the Consolidated Statements of Operations due to rounding.