Shareholders' Equity (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2021

Sep. 30, 2020

Sep. 30, 2021

Sep. 30, 2020

Equity [Abstract]

Summary of Changes in Shareholders' Equity

A summary of changes in shareholders’ equity for the three months ended September 30, 2021 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, June 30, 2021	$	206	$	2,314,564	$	9,381,177	$	(8,653,659)	$	(16,710)	$	16,710	$	3,042,288
Net income	—		—		332,081		—		—		—		332,081
Purchase of common stock for treasury	—		—		—		(398,489)		—		—		(398,489)
Equity-based compensation	—		15,009		—		—		—		—		15,009
Proceeds from Options exercised	—		26,162		—		—		—		—		26,162
Treasury stock issued upon option exercise and restricted share vesting	—		(6,735)		—		6,735		—		—		—
Balance, September 30, 2021	$	206	$	2,349,000	$	9,713,258	$	(9,045,413)	$	(16,710)	$	16,710	$	3,017,051

A summary of changes in shareholders’ equity for the three months ended September 30, 2020 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, June 30, 2020	$	206	$	2,151,623	$	8,249,650	$	(7,789,067)	$	(16,710)	$	16,710	$	2,612,412
Net income	—		—		256,466		—		—		—		256,466
Equity-based compensation	—		13,639		—		—		—		—		13,639
Proceeds from Options exercised	—		36,476		—		—		—		—		36,476
Treasury stock issued upon option exercise and restricted share vesting	—		(13,531)		—		13,531		—		—		—
Balance, September 30, 2020	$	206	$	2,188,207	$	8,506,116	$	(7,775,536)	$	(16,710)	$	16,710	$	2,918,993

A summary of changes in shareholders’ equity for the nine months ended September 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	—		—		902,138		—		—		—		902,138
Purchase of common stock for treasury	—		—		—		(1,152,855)		—		—		(1,152,855)
Equity-based compensation	—		42,859		—		—		—		—		42,859
Proceeds from Options exercised	—		121,835		—		—		—		—		121,835
Treasury stock issued upon option exercise and restricted share vesting	—		(30,120)		—		30,120		—		—		—
Balance, September 30, 2021	$	206	$	2,349,000	$	9,713,258	$	(9,045,413)	$	(16,710)	$	16,710	$	3,017,051

A summary of changes in shareholders’ equity for the nine months ended September 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	—		—		596,244		—		—		—		596,244
Deferred compensation activity, net	—		—		—		—		202		(202)		—
Purchase of common stock for treasury	—		—		—		(216,582)		—		—		(216,582)
Equity-based compensation	—		35,565		—		—		—		—		35,565
Proceeds from Options exercised	—		162,522		—		—		—		—		162,522
Treasury stock issued upon option exercise and restricted share vesting	—		(65,287)		—		65,287		—		—		—
Balance, September 30, 2020	$	206	$	2,188,207	$	8,506,116	$	(7,775,536)	$	(16,710)	$	16,710	$	2,918,993