Graham (GHC) 10-Q 2004 Q2 Quarterly report

Exhibit 11

THE WASHINGTON POST COMPANY

CALCULATION OF EARNINGS

PER SHARE OF COMMON STOCK

(In thousands of shares)

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	June 27, 2004		June 29, 2003		June 27, 2004		June 29, 2003
Number of shares of Class A and Class B common stock outstanding at beginning of period		9,550		9,526		9,542		9,511
Issuance of shares of Class B common stock (weighted), net of forfeiture of restricted stock awards		13		1		15		16
Shares used in the computation of basic earnings per common share		9,563		9,527		9,557		9,527
Adjustment to reflect dilution from common stock equivalents		33		28		31		27
Shares used in the computation of diluted earnings per common share		9,596		9,555		9,588		9,554
Net income available for common shares	$	84,659	$	60,390	$	143,583	$	132,935
Basic earnings per common share	$	8.85	$	6.34	$	15.02	$	13.95
Diluted earnings per common share	$	8.82	$	6.32	$	14.98	$	13.91