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Equity (Tables) | 12 Months Ended
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Dec. 31, 2021
Equity: |
The following table sets forth information with respect to nonvested options for 2021: | The following table sets forth information with respect to nonvested options for 2021:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested options – beginning of year |  |  | 353,790 |  |  | $ | 12.96 |
Nonvested options granted |  |  | 9,000 |  |  | $ | 11.35 |
Nonvested options vested or forfeited |  |  | (153,280 | ) |  | $ | 12.19 |
Nonvested options – end of year |  |  | 209,510 |  |  | $ | 13.45 |
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, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Income before income taxes |  | $ | 2,850 |  |  | $ | 3,030 |  |  | $ | 3,390 |
Net income attributable to Inter Parfums, Inc. |  |  | 1,880 |  |  |  | 2,040 |  |  |  | 2,060 |
Diluted earnings per share attributable to Inter Parfums, Inc. |  |  | 0.06 |  |  |  | 0.06 |  |  |  | 0.07 |
The following table summarizes stock option activity and related information for the years ended December 31, 2021, 2020 and 2019: | The following table summarizes stock option activity and related information for the years ended December 31, 2021, 2020 and 2019:
|  | Year ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |
Shares under option - beginning of year |  |  | 713,210 |  |  | $ | 52.74 |  |  |  | 815,800 |  |  | $ | 49.89 |  |  |  | 776,171 |  |  | $ | 41.33 |
Options granted |  |  | 9,000 |  |  |  | 62.18 |  |  |  | 9,000 |  |  |  | 69.11 |  |  |  | 194,050 |  |  |  | 72.89 |
Options exercised |  |  | (156,490 | ) |  |  | 34.46 |  |  |  | (95,570 | ) |  |  | 28.99 |  |  |  | (130,891 | ) |  |  | 34.06 |
Options forfeited |  |  | (40,820 | ) |  |  | 62.57 |  |  |  | (16,020 | ) |  |  | 58.38 |  |  |  | (23,530 | ) |  |  | 45.48 |
Shares under option - end of year |  |  | 524,900 |  |  |  | 57.58 |  |  |  | 713,210 |  |  |  | 52.74 |  |  |  | 815,800 |  |  |  | 49.89 |
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:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Weighted-average expected stock-price volatility |  |  | 25 | % |  |  | 25 | % |  |  | 25 | %
Weighted-average expected option life |  |  | 5.0 years |  |  |  | 5.0 years |  |  |  | 5.0 years |
Weighted-average risk-free interest rate |  |  | 0.4 | % |  |  | 1.4 | % |  |  | 1.7 | %
Weighted-average dividend yield |  |  | 1.6 | % |  |  | 2.5 | % |  |  | 2.0 | %
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:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Proceeds from stock options exercised |  | $ | 5,393 |  |  | $ | 2,771 |  |  | $ | 4,458 |
Tax benefits |  | $ | 1,300 |  |  | $ | 400 |  |  | $ | 690 |
Intrinsic value of stock options exercised |  | $ | 7,800 |  |  | $ | 2,873 |  |  | $ | 4,520 |
The following table summarizes additional stock option information as of December 31, 2021: | The following table summarizes additional stock option information as of December 31, 2021:
Exercise prices |  |  | Options outstanding |  |  | Options outstanding weighted average remaining contractual life |  | Options exercisable |
$32.83 - $33.95 |  |  |  | 81,190 |  |  | 0.99 years |  |  | 81,190 |
$40.15 - $46.90 |  |  |  | 123,130 |  |  | 1.94 years |  |  | 90,790 |
$65.18 - $69.11 |  |  |  | 164,940 |  |  | 3.03 years |  |  | 84,790 |
$73.09 |  |  |  | 155,640 |  |  | 4.00 years |  |  | 58,620 |
Totals |  |  |  | 524,900 |  |  | 2.75 years |  |  | 315,390 |

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