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.
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