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Equity (Tables) | 12 Months Ended
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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:
|  | 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 | %
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, |
|  | 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

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