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Earnings Per Common Share And Share Awards (Tables)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted Earnings Per Share
The following table sets forth the computation of basic and diluted (loss) earnings per share for the three-month periods ended March 31:
 
 
Three Months Ended
March 31,
(in thousands, except per share amounts)
 
2020
 
2019
Net (loss) income
 
$
(7,011
)
 
$
6,626

Weighted average common shares outstanding – Basic
 
1,890

 
1,887

Incremental shares outstanding assuming the exercise of dilutive SARs (share-settled)
 
—

 
9

Weighted average common shares outstanding – Diluted
 
1,890

 
1,896

Basic (loss) earnings per common share
 
$
(3.71
)
 
$
3.51

Diluted (loss) earnings per common share
 
$
(3.71
)
 
$
3.49
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, 2019
28

 
$
110.27

 
3.64
 
$
2,019

SARs granted
4

 
162.81

 
 
 
 

SARs exercised
(2
)
 
50.50

 
 
 
 

Outstanding as of December 31, 2019
30

 
$
124.13

 
3.53
 
$
1,352

SARs granted
7

 
143.53

 
 
 
 

SARs exercised
(5
)
 
74.87

 
 
 
 

Outstanding as of March 31, 2020
32

 
$
135.47

 
4.33
 
$
585

 
 
 
 
 
 
 
 
Exercisable as of March 31, 2020
27

 
$
135.02

 
3.83
 
$
585

 
 
 
 
 
 
 
 
Unvested as of March 31, 2020
5

 
$
137.90

 
6.96
 
$
—
Share-Based Valuation Assumptions
The weighted average fair value for the SARs issued during first quarter 2020 was $35.49 and was estimated using the weighted average assumptions shown in the table below.
 
2020
Expected Life in Years
6.2 - 7.0
Volatility
27.2%
Interest Rate
0.8%
Yield Rate
1.0%