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Earnings Per Common Share and Share Awards (Tables)

12 Months Ended

Dec. 31, 2018

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:

(in thousands, except per share amounts)	2018				2017				2016
Net income attributable to the Company	$	21,892			$	25,707			$	19,523
Weighted average common shares outstanding – Basic	1,887				1,886				1,908
Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share-settled)	10				10				7
Weighted average common shares outstanding – Diluted	1,897				1,896				1,915
Basic earnings per common share	$	11.60			$	13.63			$	10.23
Diluted earnings per common share	$	11.54			$	13.56			$	10.19

Summary Of Share-Based Award Transactions

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

(in thousands, except weighted average exercise price and average remaining contractual term)	Number Of Shares			Weighted Average Exercise Price				Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding as of January 1, 2016	22			$	57.04			3.93		$	945
SARs granted	5			93.87
SARs exercised	(2	)		32.00
Outstanding as of December 31, 2016	25			$	65.85			3.85		$	837
SARs granted	4			192.71
SARs exercised	(4	)		36.38
Outstanding as of December 31, 2017	25			$	93.40			3.98		$	2,624
SARs granted	4			188.71
SARs exercised	(1	)		41.50
Outstanding as of December 31, 2018	28			$	110.27			3.64		$	2,019
Exercisable as of December 31, 2018	27			$	107.05			3.53		$	2,019
Unvested as of December 31, 2018	1			$	188.71			6.38		$	—

Summary of Information of Fixed Stock Options

The following table summarizes information about SARs outstanding at December 31, 2018:

(in thousands, except exercise prices and average remaining contractual term)										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
$	50.00			—		$	59.99			3			0.37		$	50.50			3			$	50.50
60.00				—		69.99				4			2.39		68.70				4			68.70
70.00				—		79.99				8			2.58		72.44				8			72.44
90.00				—		99.99				4			4.38		93.87				4			93.87
150.00				—		199.99				9			5.88		190.71				8			191.00
$	50.00			—		$	199.99			28			3.64		$	110.27			27			$	107.05

Share-Based Valuation Assumptions

The weighted average fair values for the SARs issued during 2018, 2017 and 2016 were $78.61, $55.40 and $28.75, respectively, and were estimated using the weighted average assumptions shown in the table below.

	2018		2017		2016
Expected life in years	7.0		7.0		7.0
Volatility	39.0%		26.2%		28.9%
Interest rate	3.1%		2.0%		1.7%
Yield rate	0.8%		0.8%		0.7%

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:

	2018				2017				2016
Exercise price equal to market price on date of grant:
Weighted average market price	$	188.71			$	192.71			$	93.87
Weighted average grant-date fair value	$	78.61			$	55.40			$	28.75

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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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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