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Earnings (Loss) Per Share (Tables) | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
Summary of Earnings (Loss) Per Share, Basic and Diluted | The following reflects the Company’s ne t income (loss) a nd share data used in the basic and diluted earnings (loss) per share computations using the two-class method:
| Three Months Ended June 30 |  | Six Months Ended June 30
(in thousands, except per share amounts) | 2025 |  | 2024 |  | 2025 |  | 2024
Numerator: |  |  |  |  |  |  |
Numerator for basi c earnings (loss) pe r share: |  |  |  |  |  |  |
N et income (loss) attribu table to Graham Holdings Company common stockholders | $ | 36,749 |  |  | $ | (21,040) |  |  | $ | 60,643 |  |  | $ | 103,340 |
Less: Dividends paid-common stock outstanding and unvested restricted shares | (7,846) |  |  | (7,574) |  |  | (23,508) |  |  | (22,926) |
Undistribu ted earnings (loss) | 28,903 |  |  | (28,614) |  |  | 37,135 |  |  | 80,414 |
Percent allocated to common stockholders (1) | 99.39 | % |  | 100.00 | % |  | 99.39 | % |  | 99.32 | %
| 28,726 |  |  | (28,614) |  |  | 36,908 |  |  | 79,869 |
Add: Dividends paid-common stock outstanding | 7,798 |  |  | 7,523 |  |  | 23,364 |  |  | 22,772 |
Numerator for b asic earnings (loss) per sha re | $ | 36,524 |  |  | $ | (21,091) |  |  | $ | 60,272 |  |  | $ | 102,641 |
Add: Additional undistributed earnings due to dilutive stock options | 2 |  |  | — |  |  | 2 |  |  | 3 |
Numerator for dilu ted earnings (loss) per shar e | $ | 36,526 |  |  | $ | (21,091) |  |  | $ | 60,274 |  |  | $ | 102,644 |
Denominator: |  |  |  |  |  |  |
Denominator for b asic earnings (loss) per share: |  |  |  |  |  |  |
Weighted average shares outstanding | 4,333 |  |  | 4,401 |  |  | 4,327 |  |  | 4,416 |
Add: Effect of dilutive stock options | 40 |  |  | — |  |  | 39 |  |  | 26 |
Denominator for dilu ted earnings (loss) per s hare | 4,373 |  |  | 4,401 |  |  | 4,366 |  |  | 4,442 |
Graham Holdings Company Common Stockholders: |  |  |  |  |  |  |
B asic earnings (loss) p er share | $ | 8.43 |  |  | $ | (4.79) |  |  | $ | 13.93 |  |  | $ | 23.24 |
Dilu ted earnings (loss) per share | $ | 8.35 |  |  | $ | (4.79) |  |  | $ | 13.81 |  |  | $ | 23.11 |
____________ Earnings (loss) pe r share amounts may not recalculate due to rounding. (1) Percent of undistributed losses allocated to common stockholders is 100% in the three months ended June 30, 2024 as participating securities are not contractually obligated to share in losses.
Antidilutive Weighted Average Restricted Stock and Stock Options | Di luted earnings (loss) per s hare excludes the following weighted average potential common shares, as the effect would be antidilutive, as computed under the treasury stock method:
| Three Months Ended June 30 |  | Six Months Ended June 30
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Weighted average restricted stock | 13 |  |  | 20 |  |  | 13 |  |  | 19 |
Weighted average stock options | — |  |  | 27 |  |  | — |  |  | — |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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