Equity (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
Equity: |
|
The following table sets forth information with respect to nonvested options for 2023: |
The
following table sets forth information with respect to nonvested options for 2023:
| |
Number of Shares | | |
Weighted Average Grant Date Fair Value | |
Nonvested options – beginning of year | |
| 168,730 | | |
$ | 16.31 | |
Nonvested options granted | |
| 47,500 | | |
$ | 35.08 | |
Nonvested options vested or forfeited | |
| (94,130 | ) | |
$ | 15.19 | |
Nonvested options – end of year | |
| 122,100 | | |
$ | 24.47 | |
|
The effect of share-based payment expenses decreased income statement line items as follows: |
The
effect of share-based payment expenses decreased income statement line items as follows:
| |
Year Ended December 31, | |
| |
2023 | | |
2022 | | |
2021 | |
Income before income taxes | |
$ | 2,525 | | |
$ | 3,143 | | |
$ | 2,850 | |
Net income attributable to Inter Parfums, Inc. | |
| 1,700 | | |
| 2,036 | | |
| 1,880 | |
Diluted earnings per share attributable to Inter Parfums, Inc. | |
| 0.05 | | |
| 0.06 | | |
| 0.06 | |
|
The following table summarizes stock option activity and related information for the years ended December 31, 2023, 2022 and 2021: |
The
following table summarizes stock option activity and related information for the years ended December 31, 2023, 2022 and 2021:
| |
Year ended December 31, | |
| |
2023 | | |
2022 | | |
2021 | |
| |
Options | | |
Weighted Average Exercise Price | | |
Options | | |
Weighted Average Exercise Price | | |
Options | | |
Weighted Average Exercise Price | |
Shares under option -beginning of year | |
| 441,580 | | |
$ | 67.30 | | |
| 524,900 | | |
$ | 57.58 | | |
| 713,210 | | |
$ | 52.74 | |
Options granted | |
| 47,500 | | |
| 147.71 | | |
| 62,000 | | |
| 97.84 | | |
| 9,000 | | |
| 62.18 | |
Options exercised | |
| (154,220 | ) | |
| 52.04 | | |
| (136,880 | ) | |
| 43.86 | | |
| (156,490 | ) | |
| 34.46 | |
Options forfeited | |
| (25,890 | ) | |
| 76.32 | | |
| (8,440 | ) | |
| 67.65 | | |
| (40,820 | ) | |
| 62.57 | |
Shares under option - end of year | |
| 308,970 | | |
| 86.52 | | |
| 441,580 | | |
| 67.30 | | |
| 524,900 | | |
| 57.58 | |
|
The assumptions used in the Black-Scholes pricing model are set forth in the following table: |
The
assumptions used in the Black-Scholes pricing model are set forth in the following table:
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Year Ended December 31, | |
| |
2023 | | |
2022 | | |
2021 | |
Weighted-average expected stock-price volatility | |
| 29 | % | |
| 26 | % | |
| 25 | % |
Weighted-average expected option life | |
| 4.0 years | | |
| 4.0 years | | |
| 5.0 years | |
Weighted-average risk-free interest rate | |
| 3.8 | % | |
| 4.0 | % | |
| 0.4 | % |
Weighted-average dividend yield | |
| 2.0 | % | |
| 2.4 | % | |
| 1.6 | % |
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Proceeds, tax benefits and intrinsic value related to stock options exercised were as follows: |
Proceeds,
tax benefits and intrinsic value related to stock options exercised were as follows:
| |
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| |
Year Ended December 31, | |
| |
2023 | | |
2022 | | |
2021 | |
Proceeds from stock options exercised | |
$ | 8,025 | | |
$ | 6,003 | | |
$ | 5,393 | |
Tax benefits | |
$ | 1,150 | | |
$ | 800 | | |
$ | 1,300 | |
Intrinsic value of stock options exercised | |
$ | 11,578 | | |
$ | 6,760 | | |
$ | 7,800 | |
|
The following table summarizes additional stock option information as of December 31, 2023: |
The
following table summarizes additional stock option information as of December 31, 2023:
Exercise prices |
|
Options
outstanding |
|
Options
outstanding
weighted
average remaining
contractual life |
|
Options
exercisable |
$62.18
- $69.11 |
|
100,680 |
|
1.05
years |
|
96,180 |
$73.09 |
|
104,790 |
|
2.00 years |
|
79,490 |
$97.84 |
|
56,000 |
|
5.00 years |
|
11,200 |
$147.71 |
|
47,500 |
|
6.00 years |
|
— |
Totals |
|
308,970 |
|
2.85 years |
|
186,870 |
|