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Earnings Per Common Share And Share Awards (Tables) | 9 Months Ended
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Sep. 30, 2024
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 nine-month periods ended September 30:
|  | Three Months Ended September 30, | Nine Months Ended September 30,
(in thousands, except per share amounts) |  | 2024 |  | 2023 | 2024 |  | 2023
Net income |  | $ | 9,315 |  |  | $ | 7,084 |  | $ | 22,711 |  |  | $ | 15,850 |
Weighted average common shares outstanding – Basic |  | 1,884 |  |  | 1,891 |  | 1,885 |  |  | 1,894 |
Incremental shares outstanding assuming the exercise of dilutive SARs (share-settled) |  | 9 |  |  | — |  | 4 |  |  | — |
Weighted average common shares outstanding – Diluted |  | 1,893 |  |  | 1,891 |  | 1,889 |  |  | 1,894 |
Basic earnings per common share |  | $ | 4.94 |  |  | $ | 3.75 |  | $ | 12.05 |  |  | $ | 8.37 |
Diluted earnings per common share |  | $ | 4.92 |  |  | $ | 3.75 |  | $ | 12.02 |  |  | $ | 8.37 |
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, 2023 | 39 |  |  | $ | 159.39 |  |  | 4.10 |  | $ | 243 |
SARs granted | 5 |  |  | 142.88 |  |  |  |  |
SARs exercised | (2) |  |  | 93.87 |  |  |  |  |
Outstanding as of December 31, 2023 | 42 |  |  | $ | 160.83 |  |  | 3.69 |  | $ | 428 |
SARs granted | 5 |  |  | 160.94 |  |  |  |  |
SARs exercised | (4) |  |  | 154.13 |  |  |  |  |
SARs forfeited or expired | (4) |  |  | 192.71 |  |  |  |  |
Outstanding as of September 30, 2024 | 39 |  |  | $ | 157.74 |  |  | 3.85 |  | $ | 2,783 |
Exercisable as of September 30, 2024 | 31 |  |  | $ | 159.86 |  |  | 3.61 |  | $ | 2,180 |
Unvested as of September 30, 2024 | 8 |  |  | $ | 148.86 |  |  | 4.83 |  | $ | 603 |
Share-Based Valuation Assumptions | The weighted average fair values for the SARs issued during 2024 and 2023 were $64.00 and $55.52, respectively, and were estimated using the weighted average assumptions shown in the table below:
| 2024 |  | 2023
Expected Life in Years | 7.0 |  | 6.2 | - | 7.0
Volatility | 35.0% |  | 36.6%
Interest Rate | 4.4% |  | 3.7%
Yield Rate | 1.1% |  | 1.2%

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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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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