Earnings Per Common Share And Share Awards (Tables)

6 Months Ended

Jun. 30, 2014

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



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Net income attributable to the Company	$	3,373,598	$	4,005,675	$	4,360,036	$	7,382,405
Weighted average common shares outstanding – Basic	2,034,931		2,063,797		2,036,047		2,054,300
Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share-settled)	4,271		25,877		5,221		32,929
Weighted average common shares outstanding – Diluted	2,039,202		2,089,674		2,041,268		2,087,229
Basic earnings per common share	$	1.66	$	1.94	$	2.14	$	3.59
Diluted earnings per common share	$	1.65	$	1.92	$	2.14	$	3.54

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, 2013	98,150		$	30.74	3.17	$	2,871,710
SARs granted	3,000		71.59
SARs exercised	(79,500	)	28.77
Options exercised	(2,650	)	28.63
Options/SARs canceled/forfeited/expired	—		—
Outstanding as of December 31, 2013	19,000		$	45.74	3.43	$	669,610
SARs granted	4,500		68.70
SARs exercised	(1,500	)	49.04
Options exercised	(1,000	)	27.21
Options/SARs canceled/forfeited/expired	—		—
Outstanding as of June 30, 2014	21,000		$	51.30	4.15	$	356,160

Exercisable as of June 30, 2014	17,625		$	47.97	3.62	$	356,160

Unvested as of June 30, 2014	3,375		$	68.70	6.90	$	—

The weighted-average fair values for SARs issued during 2014 and 2013 were estimated using the weighted-average assumptions shown in the table below: