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Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The Company’s unvested restricted stock awards contain nonforfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. The diluted earnings per share computed under the two-class method is lower than the diluted earnings per share computed under the treasury stock method, resulting in the presentation of the lower amount in diluted earnings per
share. The computation of the earnings per share under the two-class method excludes the income attributable to the unvested restricted stock awards from the numerator and excludes the dilutive impact of those underlying shares from the denominator.
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 
 September 30		Nine Months Ended 
 September 30
(in thousands, except per share amounts)2025202420252024
Numerator:
Numerator for basic earnings per share:
        
Net income attributable to Graham Holdings Company common stockholders
$122,925 $72,503 $183,568 $175,843 
Less: Dividends paid-common stock outstanding and unvested restricted shares
(7,852)(7,444)(31,360)(30,370)
Undistributed earnings
115,073 65,059 152,208 145,473 
Percent allocated to common stockholders99.39 %99.31 %99.39 %99.31 %
114,372 64,612 151,280 144,473 
Add: Dividends paid-common stock outstanding7,803 7,392 31,168 30,164 
Numerator for basic earnings per share
$122,175 $72,004 $182,448 $174,637 
Add: Additional undistributed earnings due to dilutive stock options
7 3 8 6 
Numerator for diluted earnings per share
$122,182 $72,007 $182,456 $174,643 
Denominator:    
Denominator for basic earnings per share:
Weighted average shares outstanding4,334 4,352 4,329 4,395 
Add: Effect of dilutive stock options44 32 41 28 
Denominator for diluted earnings per share
4,378 4,384 4,370 4,423 
Graham Holdings Company Common Stockholders:        
Basic earnings per share
$28.19 $16.54 $42.15 $39.74 
Diluted earnings per share
$27.91 $16.42 $41.75 $39.49 
____________
Earnings per share amounts may not recalculate due to rounding.
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 
 September 30		Nine Months Ended 
 September 30
(in thousands)2025202420252024
Weighted average restricted stock16 21 14 20 
The diluted earnings per share amounts for the three and nine months ended September 30, 2025 excludes the effect of 1,000 contingently issuable shares outstanding as their inclusion would have been antidilutive due to a market condition. The diluted earnings per share amounts for the three and nine months ended September 30, 2024 exclude the effect of 27,742 stock options and contingently issuable shares outstanding as their inclusion would have been antidilutive due to a market condition.
In the three and nine months ended September 30, 2025, the Company declared regular dividends totaling $1.80 and $7.20 per common share, respectively. In the three and nine months ended September 30, 2024, the Company declared regular dividends totaling $1.72 and $6.88 per common share, respectively.