Shareholders' Equity |
Shareholders’ Equity A summary of changes in shareholders’ equity for the three months ended June 30, 2021 is presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | | Additional Paid-In Capital | | Retained Earnings | | Treasury Stock | | Deferred Compensation Trust | | Deferred Compensation Liability | | Total | Balance, March 31, 2021 | | $ | 206 | | | $ | 2,272,006 | | | $ | 9,059,882 | | | $ | (8,285,587) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 3,046,507 | | | | | | | | | | | | | | | | | Net income | | — | | | — | | | 321,295 | | | — | | | — | | | — | | | 321,295 | | | | | | | | | | | | | | | | | Purchase of common stock for treasury | | — | | | — | | | — | | | (376,941) | | | — | | | — | | | (376,941) | | Equity-based compensation | | — | | | 13,379 | | | — | | | — | | | — | | | — | | | 13,379 | | Proceeds from Options exercised | | — | | | 38,048 | | | — | | | — | | | — | | | — | | | 38,048 | | Treasury stock issued upon option exercise and restricted share vesting | | — | | | (8,869) | | | — | | | 8,869 | | | — | | | — | | | — | | Balance, June 30, 2021 | | $ | 206 | | | $ | 2,314,564 | | | $ | 9,381,177 | | | $ | (8,653,659) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 3,042,288 | |
A summary of changes in shareholders’ equity for the six months ended June 30, 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 | | — | | | — | | | 570,057 | | | — | | | — | | | — | | | 570,057 | | | | | | | | | | | | | | | | | Purchase of common stock for treasury | | — | | | — | | | — | | | (754,366) | | | — | | | — | | | (754,366) | | Equity-based compensation | | — | | | 27,850 | | | — | | | — | | | — | | | — | | | 27,850 | | Proceeds from Options exercised | | — | | | 95,673 | | | — | | | — | | | — | | | — | | | 95,673 | | Treasury stock issued upon option exercise and restricted share vesting | | — | | | (23,385) | | | — | | | 23,385 | | | — | | | — | | | — | | Balance, June 30, 2021 | | $ | 206 | | | $ | 2,314,564 | | | $ | 9,381,177 | | | $ | (8,653,659) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 3,042,288 | |
We repurchased approximately 78 and 165 shares of our common stock during the three and six months ended June 30, 2021, respectively. We settle Option exercises and vesting of RSUs by issuing shares of treasury stock. Approximately 18 and 49 shares were issued from the treasury account during the three and six months ended June 30, 2021, 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. A summary of changes in shareholders’ equity for the three months ended June 30, 2020 is presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | | Additional Paid-In Capital | | Retained Earnings | | Treasury Stock | | Deferred Compensation Trust | | Deferred Compensation Liability | | Total | Balance, March 31, 2020 | | $ | 206 | | | $ | 2,127,315 | | | $ | 8,085,575 | | | $ | (7,796,177) | | | $ | (16,912) | | | $ | 16,912 | | | $ | 2,416,919 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net income | | — | | | — | | | 164,075 | | | — | | | — | | | — | | | 164,075 | | Deferred compensation activity, net | | — | | | — | | | — | | | — | | | 202 | | | (202) | | | — | | | | | | | | | | | | | | | | | Equity-based compensation | | — | | | 14,434 | | | — | | | — | | | — | | | — | | | 14,434 | | Proceeds from Options exercised | | — | | | 16,984 | | | — | | | — | | | — | | | — | | | 16,984 | | Treasury stock issued upon option exercise and restricted share vesting | | — | | | (7,110) | | | — | | | 7,110 | | | — | | | — | | | — | | Balance, June 30, 2020 | | $ | 206 | | | $ | 2,151,623 | | | $ | 8,249,650 | | | $ | (7,789,067) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 2,612,412 | |
A summary of changes in shareholders’ equity for the six months ended June 30, 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 | | — | | | — | | | 339,778 | | | — | | | — | | | — | | | 339,778 | | Deferred compensation activity, net | | — | | | — | | | — | | | — | | | 202 | | | (202) | | | — | | Purchase of common stock for treasury | | — | | | — | | | — | | | (216,582) | | | — | | | — | | | (216,582) | | Equity-based compensation | | — | | | 21,926 | | | — | | | — | | | — | | | — | | | 21,926 | | Proceeds from Options exercised | | — | | | 126,046 | | | — | | | — | | | — | | | — | | | 126,046 | | Treasury stock issued upon option exercise and restricted share vesting | | — | | | (51,756) | | | — | | | 51,756 | | | — | | | — | | | — | | Balance, June 30, 2020 | | $ | 206 | | | $ | 2,151,623 | | | $ | 8,249,650 | | | $ | (7,789,067) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 2,612,412 | |
We repurchased approximately 58 shares of our common stock during the six months ended June 30, 2020, all of which were repurchased in the first quarter. Approximately 15 and 114 shares were issued from the treasury account during the three and six months ended June 30, 2020, respectively, in settlement of Option exercises and vesting of RSUs.
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