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, 2015	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
Issuance of 3% stock dividend	1,124		781	726		504	2		—		43,477
Conversion of Class B common shares to common shares	56		39	(56)		(39)	—		—		—
Purchase and retirement of common shares	(921)		(640)	—		—	—		—		(33,493)
Balance at December 31, 2017	37,960	$	26,361	24,891	$	17,285	85	$	(1,992)	$	656,752

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
2017	921	$	37.01
2016	818	$	35.51
2015	1,047	$	31.47