Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Equity [Abstract]

Summary of Changes in Shareholders' Equity

A summary of changes in shareholders’ equity for the three months ended March 31, 2021 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, December 31, 2020	$	206	$	2,214,426	$	8,811,120	$	(7,922,678)	$	(16,710)	$	16,710	$	3,103,074
Net income	—		—		248,762		—		—		—		248,762
Purchase of common stock for treasury	—		—		—		(377,425)		—		—		(377,425)
Equity-based compensation	—		14,471		—		—		—		—		14,471
Proceeds from Options exercised	—		57,625		—		—		—		—		57,625
Treasury stock issued upon option exercise and restricted share vesting	—		(14,516)		—		14,516		—		—		—
Balance, March 31, 2021	$	206	$	2,272,006	$	9,059,882	$	(8,285,587)	$	(16,710)	$	16,710	$	3,046,507

A summary of changes in shareholders’ equity for the three months ended March 31, 2020 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, December 31, 2019	$	206	$	2,055,407	$	7,909,872	$	(7,624,241)	$	(16,912)	$	16,912	$	2,341,244
Net income	—		—		175,703		—		—		—		175,703
Purchase of common stock for treasury	—		—		—		(216,582)		—		—		(216,582)
Equity-based compensation	—		7,492		—		—		—		—		7,492
Proceeds from Options exercised	—		109,062		—		—		—		—		109,062
Treasury stock issued upon option exercise and restricted share vesting	—		(44,646)		—		44,646		—		—		—
Balance, March 31, 2020	$	206	$	2,127,315	$	8,085,575	$	(7,796,177)	$	(16,912)	$	16,912	$	2,416,919