Washington Post 2015 Annual Report Download - page 121

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The following reflects the Company’s income from continuing operations and share data used in the basic and
diluted earnings per share computations using the two-class method:
Year Ended December 31
(in thousands, except per share amounts) 2015 2014 2013
Numerator:
Numerator for basic (loss) earnings per share:
(Loss) income from continuing operations attributable to Graham
Holdings Company common stockholders ................... $(143,456) $765,139 $63,396
Less: Dividends paid–common stock outstanding and unvested
restricted shares ........................................ (53,090) (67,267) –
Undistributed (losses) earnings .............................. (196,546) 697,872 63,396
Percent allocated to common stockholders(1) ................... 100.00% 97.98% 98.45%
(196,546) 683,780 62,413
Add: Dividends paid–common stock outstanding ............... 52,050 66,012 —
Numerator for (loss) earnings per share ......................... (144,496) 749,792 62,413
Add: Additional undistributed earnings due to dilutive stock
options ............................................... —64 2
Numerator for diluted (loss) earnings per share .................. $(144,496) $749,856 $62,415
Denominator:
Denominator for basic (loss) earnings per share:
Weighted average shares outstanding ......................... 5,727 6,470 7,238
Add: Effect of dilutive stock options ......................... —27 12
Denominator for diluted (loss) earnings per share ................ 5,727 6,497 7,250
Graham Holdings Company Common Stockholders:
Basic (loss) earnings per share from continuing operations ......... $ (25.23) $ 115.88 $ 8.62
Diluted (loss) earnings per share from continuing operations ....... $ (25.23) $ 115.40 $ 8.61
(1) Percent of undistributed losses allocated to common stockholders is 100% in 2015 as participating securities are not contractually
obligated to share in losses.
Diluted (loss) earnings per share excludes the following weighted average potential common shares, as the effect
would be antidilutive, as computed under the treasury stock method:
Year Ended December 31
(in thousands) 2015 2014 2013
Weighted average restricted stock ................... 52 62 83
Weighted average stock options ..................... 39 ——
The 2015, 2014 and 2013 diluted earnings per share amounts exclude the effects of 102,000, 52,000 and 10,000
stock options outstanding, respectively, as their inclusion would have been antidilutive. The 2015, 2014 and 2013
diluted earnings per share amounts also exclude the effects of 6,250, 5,175 and 5,500 restricted stock awards,
respectively, as their inclusion would have been antidilutive.
In 2015 and 2014, the Company declared regular dividends totaling $9.10 and $10.20 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.
2015 FORM 10-K 106