XML 51 R38.htm IDEA: XBRL DOCUMENT v3.20.4
Earnings Per Common Share and Share Awards (Tables)
 12 Months Ended
Dec. 31, 2020
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:
(in thousands, except per share amounts)20202019
Net income$39,420 $31,458 
Weighted average common shares outstanding – Basic1,892 1,888 
Incremental shares outstanding assuming the exercise of dilutive SARs (share-settled)4 8 
Weighted average common shares outstanding – Diluted
1,896 1,896 
Basic earnings per common share$20.84 $16.66 
Diluted earnings per common share$20.80 $16.59 
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, 201928 $110.27 3.64$2,019 
SARs granted4 162.81   
SARs exercised(2)50.50 
Outstanding as of December 31, 201930 $124.13 3.53$1,352 
SARs granted14 137.40   
SARs exercised(8)75.75   
Outstanding as of December 31, 202036 $139.16 4.38$903 
Exercisable as of December 31, 202027 $139.31 3.69$772 
Unvested as of December 31, 20209 $138.70 6.44$131 
Summary of Information of Fixed Stock Options The following table summarizes information about SARs outstanding at December 31, 2020:
(in thousands, except exercise prices and average remaining contractual term)SARs Outstanding at Year-EndSARs Exercisable at Year-End
Range of Exercise PricesNumber
Outstanding		Weighted
Average
Remaining
Contractual Life		Weighted
Average
Exercise
Price		Number
Exercisable		Weighted
Average
Exercise
Price
$60.00 —$99.99 9 1.38$78.52 9 $78.52 
100.00 —149.99 12 6.43134.41 3 122.80 
150.00 —199.99 15 4.48179.50 15 179.50 
$60.00 —$199.99 36 4.38$139.16 27 $139.31 
Share-Based Valuation Assumptions The weighted average fair values for the SARs issued during 2020 and 2019 were $36.30 and $51.88, respectively, and were estimated using the weighted average assumptions shown in the table below.
20202019
Expected life in years6.2-7.07.0-7.0
Volatility29.4%30.2%
Interest rate0.7%2.3%
Yield rate1.2%1.0%