Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2019

Mar. 31, 2018

Equity [Abstract]

Summary of Changes in Shareholders' Equity

A summary of changes in shareholders’ equity for the three months ended March 31, 2019 is presented below:

	Common Stock		Additional Paid-In Capital			Retained Earnings		Treasury Stock			Deferred Compensation Trust			Deferred Compensation Liability			Total
Balance, December 31, 2018	$	206	$	1,820,223		$	7,031,333	$	(7,043,200	)	$	(16,937	)	$	16,937		$	1,808,562
Net income	—		—			188,406		—			—			—			188,406
Deferred compensation activity, net	—		—			—		—			25			(25		)	—
Purchase of common stock for treasury	—		—			—		(216,499		)	—			—			(216,499		)
Equity-based compensation	—		19,333			—		—			—			—			19,333
Proceeds from Options exercised	—		98,974			—		—			—			—			98,974
Treasury stock issued upon option exercise and restricted share vesting	—		(39,430		)	—		39,430			—			—			—
Balance, March 31, 2019	$	206	$	1,899,100		$	7,219,739	$	(7,220,269	)	$	(16,912	)	$	16,912		$	1,898,776

A summary of changes in shareholders’ equity for the three months ended March 31, 2018 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	—		—			166,049		—			—			—		166,049
Deferred compensation activity, net	—		—			—		—			(6		)	6		—
Purchase of common stock for treasury	—		—			—		(357,242		)	—			—		(357,242		)
Equity-based compensation	—		9,509			—		—			—			—		9,509
Proceeds from Options exercised	—		40,804			—		—			—			—		40,804
Treasury stock issued upon option exercise and restricted share vesting	—		(16,410		)	—		16,410			—			—		—
Balance, March 31, 2018	$	206	$	1,678,100		$	6,400,185	$	(6,611,683	)	$	(17,389	)	$	17,389	$	1,466,808

Shareholders' Equity

Shareholders’ Equity

A summary of changes in shareholders’ equity for the three months ended March 31, 2019 is presented below:

	Common Stock		Additional Paid-In Capital			Retained Earnings		Treasury Stock			Deferred Compensation Trust			Deferred Compensation Liability			Total
Balance, December 31, 2018	$	206	$	1,820,223		$	7,031,333	$	(7,043,200	)	$	(16,937	)	$	16,937		$	1,808,562
Net income	—		—			188,406		—			—			—			188,406
Deferred compensation activity, net	—		—			—		—			25			(25		)	—
Purchase of common stock for treasury	—		—			—		(216,499		)	—			—			(216,499		)
Equity-based compensation	—		19,333			—		—			—			—			19,333
Proceeds from Options exercised	—		98,974			—		—			—			—			98,974
Treasury stock issued upon option exercise and restricted share vesting	—		(39,430		)	—		39,430			—			—			—
Balance, March 31, 2019	$	206	$	1,899,100		$	7,219,739	$	(7,220,269	)	$	(16,912	)	$	16,912		$	1,898,776

A summary of changes in shareholders’ equity for the three months ended March 31, 2018 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	—		—			166,049		—			—			—		166,049
Deferred compensation activity, net	—		—			—		—			(6		)	6		—
Purchase of common stock for treasury	—		—			—		(357,242		)	—			—		(357,242		)
Equity-based compensation	—		9,509			—		—			—			—		9,509
Proceeds from Options exercised	—		40,804			—		—			—			—		40,804
Treasury stock issued upon option exercise and restricted share vesting	—		(16,410		)	—		16,410			—			—		—
Balance, March 31, 2018	$	206	$	1,678,100		$	6,400,185	$	(6,611,683	)	$	(17,389	)	$	17,389	$	1,466,808

We repurchased approximately 82 and 116 shares of our common stock during the three months ended March 31, 2019 and 2018, respectively. We settle Option exercises and vesting of RSUs by issuing shares of treasury stock.  Approximately 95 and 44 shares were issued from the treasury account during the three months ended March 31, 2019 and 2018, respectively, 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.