Earnings Per Common Share And Share Awards (Tables)

6 Months Ended

Jun. 30, 2018

Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three- and six-month periods ended June 30:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share amounts)	2018		2017		2018		2017
Net income attributable to the Company	$	6,947	$	5,675	$	11,123	$	10,151
Weighted average common shares outstanding – Basic	1,887		1,887		1,886		1,886
Incremental shares outstanding assuming the exercise of dilutive SARs (share-settled)	10		10		10		10
Weighted average common shares outstanding – Diluted	1,897		1,897		1,896		1,896
Basic earnings per common share	$	3.68	$	3.01	$	5.90	$	5.38
Diluted earnings per common share	$	3.66	$	2.99	$	5.87	$	5.35

Summary Of Share-Based Award Transactions

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



(in thousands, except weighted average exercise price and average remaining contractual term)	Number Of Shares		Weighted Average Exercise Price		Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2017	25		$	65.85	3.85	$	837
SARs granted	4		192.71
SARs exercised	(4	)	36.38
Outstanding as of December 31, 2017	25		$	93.40	3.98	$	837
SARs granted	4		188.71
SARs exercised	(1	)	41.50
Outstanding as of June 30, 2018	28		$	110.27	4.15	$	2,175

Exercisable as of June 30, 2018	25		$	99.73	3.78	$	2,175

Unvested as of June 30, 2018	3		$	188.71	6.88	$	—

Share-Based Valuation Assumptions

The weighted average fair values for the SARs issued during 2018 and 2017 were $78.61 and $55.40, respectively, and were estimated using the weighted average assumptions shown in the table below.



	2018	2017
Expected Life in Years	7.0	7.0
Volatility	39.0%	26.2%
Interest Rate	3.1%	2.0%
Yield Rate	0.8%	0.8%