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Earnings Per Common Share And Share Awards (Tables) | 6 Months Ended
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Jun. 30, 2020
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 three- and six-month periods ended June 30:
|  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(in thousands, except per share amounts) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Net income |  | $ | 14,495 |  |  | $ | 5,500 |  |  | $ | 7,484 |  |  | $ | 12,126 |
Weighted average common shares outstanding – Basic |  | 1,892 |  |  | 1,889 |  |  | 1,891 |  |  | 1,888 |
Incremental shares outstanding assuming the exercise of dilutive SARs (share-settled) |  | 3 |  |  | 7 |  |  | 4 |  |  | 8 |
Weighted average common shares outstanding – Diluted |  | 1,895 |  |  | 1,896 |  |  | 1,895 |  |  | 1,896 |
Basic earnings per common share |  | $ | 7.66 |  |  | $ | 2.91 |  |  | $ | 3.96 |  |  | $ | 6.42 |
Diluted earnings per common share |  | $ | 7.65 |  |  | $ | 2.90 |  |  | $ | 3.95 |  |  | $ | 6.40 |
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 | 11 |  |  | 135.05 |  |  |  |  |
SARs exercised | (8) |  |  | 75.75 |  |  |  |  |
Outstanding as of June 30, 2020 | 33 |  |  | $ | 138.55 |  |  | 4.66 |  | $ | 385 |
Exercisable as of June 30, 2020 | 25 |  |  | $ | 140.79 |  |  | 3.96 |  | $ | 385 |
Unvested as of June 30, 2020 | 8 |  |  | $ | 131.81 |  |  | 6.78 |  | $ | — |
Share-Based Valuation Assumptions | The weighted average fair value for the SARs issued during 2020 and 2019 were $34.45 and $51.88, respectively, and were estimated using the weighted average assumptions shown in the table below.
| 2020 |  |  |  | 2019 |  |
Expected Life in Years | 6.2 | - | 7.0 |  | 7.0 | - | 7.0
Volatility | 28.5% |  |  |  | 30.2% |  |
Interest Rate | 0.7% |  |  |  | 2.3% |  |
Yield Rate | 1.2% |  |  |  | 1.0% |  |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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