Earnings Per Common Share And Share Awards (Tables)

9 Months Ended

Sep. 30, 2015

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Net income attributable to the Company	$	4,490,962	$	2,594,490	$	10,337,583	$	6,954,526
Weighted average common shares outstanding – Basic	1,967,923		2,028,818		1,995,120		2,033,637
Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share-settled)	4,310		3,826		4,923		5,238
Weighted average common shares outstanding – Diluted	1,972,233		2,032,644		2,000,043		2,038,875
Basic earnings per common share	$	2.28	$	1.28	$	5.18	$	3.42
Diluted earnings per common share	$	2.28	$	1.28	$	5.17	$	3.41

A summary of share-based award transactions for all share-based award plans follows:



	Number Of Shares		Weighted Average Exercise Price		Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2014	19,000		$	45.74	3.43	$	669,610
SARs granted	4,500		68.70
SARs exercised	(1,500	)	49.04
Options exercised	(1,000	)	27.21
Options/SARs canceled/forfeited/expired	—		—
Outstanding as of December 31, 2014	21,000		$	51.30	3.64	$	453,510
SARs granted	4,500		73.00
SARs exercised	(2,000	)	47.88
Options exercised	(1,500	)	36.79
Options/SARs canceled/forfeited/expired	—		—
Outstanding as of September 30, 2015	22,000		$	57.04	4.18	$	355,455
Exercisable as of September 30, 2015	19,750		$	55.23	3.90	$	355,005
Unvested as of September 30, 2015	2,250		$	73.00	6.64	$	450

The weighted average fair values for SARs issued during 2015 and 2014 were estimated using the weighted average assumptions shown in the table below: