Shareholders' Equity |
Shareholders’ Equity A summary of changes in shareholders’ equity is presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | | Additional Paid-In Capital | | Retained Earnings | | Treasury Stock | | Deferred Compensation Trust | | Deferred Compensation Liability | | Total | Balance, December 31, 2017 | | $ | 206 |
| | $ | 1,644,197 |
| | $ | 6,231,940 |
| | $ | (6,270,851 | ) | | $ | (17,383 | ) | | $ | 17,383 |
| | $ | 1,605,492 |
| | | | | | | | | | | | | | | | Cumulative-effect adjustment from adoption of ASU 2014-09, net of tax | | — |
| | — |
| | 2,196 |
| | — |
| | — |
| | — |
| | 2,196 |
| Net income | | — |
| | — |
| | 565,039 |
| | — |
| | — |
| | — |
| | 565,039 |
| Deferred compensation activity, net | | — |
| | — |
| | — |
| | — |
| | 455 |
| | (455 | ) | | — |
| Purchase of common stock for treasury | | — |
| | — |
| | — |
| | (657,369 | ) | | — |
| | — |
| | (657,369 | ) | Equity-based compensation | | — |
| | 51,690 |
| | — |
| | — |
| | — |
| | — |
| | 51,690 |
| Proceeds from Options exercised | | — |
| | 115,268 |
| | — |
| | — |
| | — |
| | — |
| | 115,268 |
| Treasury stock issued upon option exercise and restricted share vesting | | — |
| | (48,832 | ) | | — |
| | 48,832 |
| | — |
| | — |
| | — |
| Balance, September 30, 2018 | | $ | 206 |
| | $ | 1,762,323 |
| | $ | 6,799,175 |
| | $ | (6,879,388 | ) | | $ | (16,928 | ) | | $ | 16,928 |
| | $ | 1,682,316 |
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The Company repurchased approximately 222 shares of its common stock during the nine months ended September 30, 2018. The Company settles Option exercises and vesting of RSUs by issuing shares of treasury stock. Approximately 126 shares were issued from the treasury account during the nine months ended September 30, 2018 in settlement of Option exercises and vesting of RSUs. Shares are relieved from the treasury account based on the weighted average cost basis of treasury shares acquired.
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