Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Equity [Abstract]

Summary of Changes in Shareholders' Equity

A summary of changes in shareholders’ equity for the three months ended September 30, 2019 is presented below:

	Common Stock		Additional Paid-In Capital			Retained Earnings		Treasury Stock			Deferred Compensation Trust			Deferred Compensation Liability		Total
Balance, June 30, 2019	$	206	$	1,962,156		$	7,429,948	$	(7,272,871	)	$	(16,912	)	$	16,912	$	2,119,439
Net income	—		—			223,787		—			—			—		223,787
Deferred compensation activity, net	—		—			—		—			—			—		—
Purchase of common stock for treasury	—		—			—		(61,063		)	—			—		(61,063		)
Equity-based compensation	—		20,770			—		—			—			—		20,770
Proceeds from Options exercised	—		68,524			—		—			—			—		68,524
Treasury stock issued upon option exercise and restricted share vesting	—		(31,270		)	—		31,270			—			—		—
Balance, September 30, 2019	$	206	$	2,020,180		$	7,653,735	$	(7,302,664	)	$	(16,912	)	$	16,912	$	2,371,457

A summary of changes in shareholders’ equity for the nine months ended September 30, 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	—		—			622,402		—			—			—			622,402
Deferred compensation activity, net	—		—			—		—			25			(25		)	—
Purchase of common stock for treasury	—		—			—		(365,542		)	—			—			(365,542		)
Equity-based compensation	—		58,680			—		—			—			—			58,680
Proceeds from Options exercised	—		247,355			—		—			—			—			247,355
Treasury stock issued upon option exercise and restricted share vesting	—		(106,078		)	—		106,078			—			—			—
Balance, September 30, 2019	$	206	$	2,020,180		$	7,653,735	$	(7,302,664	)	$	(16,912	)	$	16,912		$	2,371,457

A summary of changes in shareholders’ equity for the three months ended September 30, 2018 is presented below:

	Common Stock		Additional Paid-In Capital			Retained Earnings		Treasury Stock			Deferred Compensation Trust			Deferred Compensation Liability			Total
Balance, June 30, 2018	$	206	$	1,721,696		$	6,603,359	$	(6,717,690	)	$	(17,148	)	$	17,148		$	1,607,571
Net income	—		—			195,816		—			—			—			195,816
Deferred compensation activity, net	—		—			—		—			220			(220		)	—
Purchase of common stock for treasury	—		—			—		(173,831		)	—			—			(173,831		)
Equity-based compensation	—		23,586			—		—			—			—			23,586
Proceeds from Options exercised	—		29,174			—		—			—			—			29,174
Treasury stock issued upon option exercise and restricted share vesting	—		(12,133		)	—		12,133			—			—			—
Balance, September 30, 2018	$	206	$	1,762,323		$	6,799,175	$	(6,879,388	)	$	(16,928	)	$	16,928		$	1,682,316

A summary of changes in shareholders’ equity for the nine months ended September 30, 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	—		—			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

Shareholders' Equity

Shareholders’ Equity

A summary of changes in shareholders’ equity for the three months ended September 30, 2019 is presented below:

	Common Stock		Additional Paid-In Capital			Retained Earnings		Treasury Stock			Deferred Compensation Trust			Deferred Compensation Liability		Total
Balance, June 30, 2019	$	206	$	1,962,156		$	7,429,948	$	(7,272,871	)	$	(16,912	)	$	16,912	$	2,119,439
Net income	—		—			223,787		—			—			—		223,787
Deferred compensation activity, net	—		—			—		—			—			—		—
Purchase of common stock for treasury	—		—			—		(61,063		)	—			—		(61,063		)
Equity-based compensation	—		20,770			—		—			—			—		20,770
Proceeds from Options exercised	—		68,524			—		—			—			—		68,524
Treasury stock issued upon option exercise and restricted share vesting	—		(31,270		)	—		31,270			—			—		—
Balance, September 30, 2019	$	206	$	2,020,180		$	7,653,735	$	(7,302,664	)	$	(16,912	)	$	16,912	$	2,371,457

A summary of changes in shareholders’ equity for the nine months ended September 30, 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	—		—			622,402		—			—			—			622,402
Deferred compensation activity, net	—		—			—		—			25			(25		)	—
Purchase of common stock for treasury	—		—			—		(365,542		)	—			—			(365,542		)
Equity-based compensation	—		58,680			—		—			—			—			58,680
Proceeds from Options exercised	—		247,355			—		—			—			—			247,355
Treasury stock issued upon option exercise and restricted share vesting	—		(106,078		)	—		106,078			—			—			—
Balance, September 30, 2019	$	206	$	2,020,180		$	7,653,735	$	(7,302,664	)	$	(16,912	)	$	16,912		$	2,371,457

We repurchased approximately 18 and 130 shares of our common stock during the three and nine months ended September 30, 2019, respectively. We settle Option exercises and vesting of RSUs by issuing shares of treasury stock.  Approximately 73 and 250 shares were issued from the treasury account during the three and nine months ended September 30, 2019, 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.

A summary of changes in shareholders’ equity for the three months ended September 30, 2018 is presented below:

	Common Stock		Additional Paid-In Capital			Retained Earnings		Treasury Stock			Deferred Compensation Trust			Deferred Compensation Liability			Total
Balance, June 30, 2018	$	206	$	1,721,696		$	6,603,359	$	(6,717,690	)	$	(17,148	)	$	17,148		$	1,607,571
Net income	—		—			195,816		—			—			—			195,816
Deferred compensation activity, net	—		—			—		—			220			(220		)	—
Purchase of common stock for treasury	—		—			—		(173,831		)	—			—			(173,831		)
Equity-based compensation	—		23,586			—		—			—			—			23,586
Proceeds from Options exercised	—		29,174			—		—			—			—			29,174
Treasury stock issued upon option exercise and restricted share vesting	—		(12,133		)	—		12,133			—			—			—
Balance, September 30, 2018	$	206	$	1,762,323		$	6,799,175	$	(6,879,388	)	$	(16,928	)	$	16,928		$	1,682,316

A summary of changes in shareholders’ equity for the nine months ended September 30, 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	—		—			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

We repurchased approximately 64 and 222 shares of our common stock during the three and nine months ended September 30, 2018, respectively. Approximately 30 and 126 shares were issued from the treasury account during the three and nine months ended September 30, 2018, respectively, in settlement of Option exercises and vesting of RSUs.