NOTE 5—SHARE CAPITAL AND CAPITAL IN EXCESS OF PAR VALUE:


										Capital in
				Class B						Excess
	Common Stock			Common Stock			Treasury Stock			of Par
	Shares	Amount		Shares	Amount		Shares	Amount		Value
	(000’s)			(000’s)			(000’s)
Balance at January 1, 2014	37,011	$	25,702	22,256	$	15,455	76	$	(1,992)	$	572,669
Issuance of 3% stock dividend	1,099		763	667		464	2		—		50,939
Conversion of Class B common shares to common shares	36		25	(36)		(25)	—		—		—
Purchase and retirement of common shares	(861)		(598)	—		—	—		—		(24,422)
Balance at December 31, 2014	37,285		25,892	22,887		15,894	78		(1,992)		599,186
Issuance of 3% stock dividend	1,112		773	687		476	2		—		55,982
Conversion of Class B common shares to common shares	32		22	(32)		(22)	—		—		—
Purchase and retirement of common shares	(1,047)		(727)	—		—	—		—		(32,286)
Balance at December 31, 2015	37,382		25,960	23,542		16,348	80		(1,992)		622,882
Issuance of 3% stock dividend	1,111		772	705		490	3		—		52,410
Conversion of Class B common shares to common shares	26		18	(26)		(18)	—		—		—
Purchase and retirement of common shares	(818)		(569)	—		—	—		—		(28,524)
Balance at December 31, 2016	37,701	$	26,181	24,221	$	16,820	83	$	(1,992)	$	646,768

Average shares outstanding and all per share amounts included in the financial statements and notes thereto have been adjusted retroactively to reflect annual three percent stock dividends.

While the Company does not have a formal or publicly announced Company common stock purchase program, the Company’s board of directors periodically authorizes a dollar amount for such share purchases.

Based upon this policy, shares were purchased and retired as follows:


	Total Number of Shares
Year	Purchased (000’s)	Average Price Paid Per Share
2016	818	$	35.51
2015	1,047	$	31.47
2014	861	$	29.02