Earnings Per Common Share and Share Awards (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31:

For the Years Ended December 31,	2017		2016		2015
Net income attributable to the Company	$	25,706,502	$	19,523,118	$	12,533,905
Weighted average common shares outstanding – Basic	1,886,354		1,907,675		1,984,360
Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share-settled)	9,517		7,382		5,439
Weighted average common shares outstanding – Diluted	1,895,871		1,915,057		1,989,799
Basic earnings per common share	$	13.63	$	10.23	$	6.32
Diluted earnings per common share	$	13.56	$	10.19	$	6.30

Summary Of Share-Based Award Transactions

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, 2015	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
Outstanding as of December 31, 2015	22,000		$	57.04	3.93	$	945,055
SARs granted	4,500		93.87
SARs exercised	(2,000	)	32.00
Outstanding as of December 31, 2016	24,500		$	65.85	3.85	$	836,640
SARs granted	4,500		192.71
SARs exercised	(4,000	)	36.38
Outstanding as of December 31, 2017	25,000		$	93.40	3.98	$	2,623,720
Exercisable as of December 31, 2017	23,875		$	88.72	3.87	$	2,617,375
Unvested as of December 31, 2017	1,125		$	192.71	6.38	$	6,345

Summary of Information of Fixed Stock Options

The following table summarizes information about SARs outstanding at December 31, 2017:

					SARs Outstanding at Year-End				SARs Exercisable at Year-End
Range of Exercise Prices					Number Outstanding	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price		Number Exercisable	Weighted Average Exercise Price
$	40.00	—	$	49.99	1,000	0.38	$	41.50	1,000	$	41.50
50.00		—	59.99		3,000	1.37	50.50		3,000	50.50
60.00		—	69.99		4,500	3.39	68.70		4,500	68.70
70.00		—	79.99		7,500	3.58	72.44		7,500	72.44
90.00		—	99.99		4,500	5.38	93.87		4,500	93.87
190.00		—	199.99		4,500	6.38	192.71		3,375	192.71
$	40.00	—	$	199.99	25,000	3.98	$	93.40	23,875	$	88.72

Share-Based Valuation Assumptions

The weighted average fair values for the SARs issued during 2017, 2016 and 2015 were $55.40, $28.75 and $31.16, respectively, and were estimated using the weighted average assumptions shown in the table below.

	2017	2016	2015
Expected Life in Years	7.0	7.0	7.0
Volatility	26.2%	28.9%	40.7%
Interest Rate	2.0%	1.7%	2.0%
Yield Rate	0.8%	0.7%	0.4%

Schedule of Weighted Average Grant Date Fair Value of Stock Awards Plans

The estimated weighted average grant-date fair value of SARs granted for the years ended December 31 was as follows:

For the Years Ended December 31,	2017		2016		2015
Exercise price equal to market price on date of grant:
Weighted average market price	$	192.71	$	93.87	$	73.00
Weighted average grant-date fair value	$	55.40	$	28.75	$	31.16