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Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity: |
The following table sets forth information with respect to nonvested options for 2022: | The following table sets forth information with respect to nonvested options for 2022:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested options – beginning of year |  |  | 209,510 |  |  | $ | 13.45 |
Nonvested options granted |  |  | 62,000 |  |  | $ | 20.36 |
Nonvested options vested or forfeited |  |  | (102,780 | ) |  | $ | 12.93 |
Nonvested options – end of year |  |  | 168,730 |  |  | $ | 16.31 |
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, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Income before income taxes |  | $ | 3,143 |  |  | $ | 2,850 |  |  | $ | 3,030 |
Net income attributable to Inter Parfums, Inc. |  |  | 2,036 |  |  |  | 1,880 |  |  |  | 2,040 |
Diluted earnings per share attributable to Inter Parfums, Inc. |  |  | 0.06 |  |  |  | 0.06 |  |  |  | 0.06 |
The following table summarizes stock option activity and related information for the years ended December 31, 2022, 2021 and 2020: | The following table summarizes stock option activity and related information for the years ended December 31, 2022, 2021 and 2020:
|  | Year ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |
Shares under option - beginning of year |  |  | 524,900 |  |  | $ | 57.58 |  |  |  | 713,210 |  |  | $ | 52.74 |  |  |  | 815,800 |  |  | $ | 49.89 |
Options granted |  |  | 62,000 |  |  |  | 97.84 |  |  |  | 9,000 |  |  |  | 62.18 |  |  |  | 9,000 |  |  |  | 69.11 |
Options exercised |  |  | (136,880 | ) |  |  | 43.86 |  |  |  | (156,490 | ) |  |  | 34.46 |  |  |  | (95,570 | ) |  |  | 28.99 |
Options forfeited |  |  | (8,440 | ) |  |  | 67.65 |  |  |  | (40,820 | ) |  |  | 62.57 |  |  |  | (16,020 | ) |  |  | 58.38 |
Shares under option - end of year |  |  | 441,580 |  |  |  | 67.30 |  |  |  | 524,900 |  |  |  | 57.58 |  |  |  | 713,210 |  |  |  | 52.74 |
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, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Weighted-average expected stock-price volatility |  |  | 26 | % |  |  | 25 | % |  |  | 25 | %
Weighted-average expected option life |  |  | 4.0 years |  |  |  | 5.0 years |  |  |  | 5.0 years |
Weighted-average risk-free interest rate |  |  | 4.0 | % |  |  | 0.4 | % |  |  | 1.4 | %
Weighted-average dividend yield |  |  | 2.4 | % |  |  | 1.6 | % |  |  | 2.5 | %
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, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Proceeds from stock options exercised |  | $ | 6,003 |  |  | $ | 5,393 |  |  | $ | 2,771 |
Tax benefits |  | $ | 800 |  |  | $ | 1,300 |  |  | $ | 400 |
Intrinsic value of stock options exercised |  | $ | 6,760 |  |  | $ | 7,800 |  |  | $ | 2,873 |
The following table summarizes additional stock option information as of December 31, 2022: | The following table summarizes additional stock option information as of December 31, 2022:
Exercise prices |  |  | Options outstanding |  |  | Options outstanding weighted average remaining contractual life |  | Options exercisable |
$40.15 - $46.90 |  |  | 103,460 |  |  | 0.96 years |  |  | 101,860 |
$62.18 - $69.11 |  |  | 139,900 |  |  | 2.04 years |  |  | 97,210 |
$73.09 |  |  | 136,220 |  |  | 3.00 years |  |  | 73,780 |
$97.84 |  |  | 62,000 |  |  | 5.85 years |  |  | — |
Totals |  |  | 441,580 |  |  | 2.62 years |  |  | 272,850 |

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