Earnings Per Common Share And Share Awards (Tables)

6 Months Ended

Jun. 30, 2016

The following table sets forth the computation of basic and diluted earnings per share for the three- and six-month periods ended June 30:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net income attributable to the Company	$	4,529,380	$	4,120,497	$	6,343,420	$	5,846,621
Weighted average common shares outstanding – Basic	1,923,213		2,004,698		1,928,766		2,008,718
Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share-settled)	5,412		4,797		6,559		5,160
Weighted average common shares outstanding – Diluted	1,928,625		2,009,495		1,935,325		2,013,878
Basic earnings per common share	$	2.36	$	2.06	$	3.29	$	2.91
Diluted earnings per common share	$	2.35	$	2.05	$	3.28	$	2.90

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, 2015	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
SARs granted	4,500		93.87
SARs exercised	(2,000	)	32.00
Outstanding as of June 30, 2016	24,500		$	65.85	4.35	$	720,265

Exercisable as of June 30, 2016	21,125		$	61.38	3.95	$	715,607

Unvested as of June 30, 2016	3,375		$	93.87	6.88	$	4,658

The weighted average fair values for SARs issued during 2016 and 2015 were estimated using the weighted average assumptions shown in the table below: