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Earnings Per Common Share and Share Awards (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31:

For the Years Ended December 31,	2015				2014				2013
Net income attributable to the Company	$	12,533,905			$	9,648,975			$	14,708,210
Weighted average common shares outstanding – Basic	1,984,360				2,031,760				2,056,169
Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share-settled)	5,439				5,774				20,459
Weighted average common shares outstanding – Diluted	1,989,799				2,037,534				2,076,628
Basic earnings per common share	$	6.32			$	4.75			$	7.15
Diluted earnings per common share	$	6.30			$	4.74			$	7.08

Summary Of Share-Based Award Transactions

A summary of share-based award transactions for all share-based award plans follows:

	Number Of Shares			Weighted Average Exercise Price				Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding as of January 1, 2013	98,150			$	30.74			3.17		$	2,871,710
SARs granted	3,000			71.59
SARs exercised	(79,500	)		28.77
Options exercised	(2,650	)		28.63
Outstanding as of December 31, 2013	19,000			$	45.74			3.43		$	669,610
SARs granted	4,500			68.70
SARs exercised	(1,500	)		49.04
Options exercised	(1,000	)		27.21
Outstanding as of December 31, 2014	21,000			$	51.30			3.64		$	453,510
SARs granted	4,500			73.00
SARs exercised	(2,000	)		47.88
Options exercised	(1,500	)		36.79
Outstanding as of December 31, 2015	22,000			$	57.04			3.93		$	945,055
Exercisable as of December 31, 2015	20,875			$	56.18			3.80		$	914,680
Unvested as of December 31, 2015	1,125			$	73.00			6.39		$	30,375

Summary of Information of Fixed Stock Options

The following tables summarize information about SARs outstanding at December 31, 2015:

										SARs Outstanding at Year-End									SARs Exercisable at Year-End
Range of Exercise Prices										Number Outstanding			Weighted Average Remaining Contractual Life		Weighted Average Exercise Price				Number Exercisable			Weighted Average Exercise Price
$	32.00			—		$	32.00			2,000			0.39		$	32.00			2,000			$	32.00
33.31				—		33.31				2,500			1.38		33.31				2,500			33.31
36.80				—		73.00				17,500			4.70		63.30				16,375			62.63
$	32.00			—		$	73.00			22,000			3.93		$	57.05			20,875			$	56.18

Share-Based Valuation Assumptions

The weighted average fair values for the SARs issued during 2015, 2014 and 2013 were $31.16, $28.98 and $27.55, respectively, and were estimated using the weighted average assumptions shown in the table below.

	2015		2014		2013
Expected Life in Years	7.0		6.9		5.0
Volatility	40.7%		39.9%		44.6%
Interest Rate	2.0%		2.1%		1.3%
Yield Rate	0.4%		0.4%		0.5%

Schedule of Weighted Average Grant Date Fair Value of Stock Awards Plans

The estimated weighted average grant-date fair value of SARs granted for the years ended December 31 was as follows:

For the Years Ended December 31,	2015				2014				2013
Exercise price equal to market price on date of grant:
Weighted average market price	$	73.00			$	68.70			$	71.59
Weighted average grant-date fair value	$	31.16			$	28.98			$	27.55

X

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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-Publisher FASB
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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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