Shareholders' Equity (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Equity [Abstract]

Summary of Changes in Shareholders' Equity

A summary of changes in shareholders’ equity for the three months ended September 30, 2022 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, June 30, 2022	$	206	$	2,498,123	$	10,907,253	$	(10,413,916)	$	(16,710)	$	16,710	$	2,991,666
Net income	—		—		411,393		—		—		—		411,393
Purchase of common stock for treasury	—		—		—		(368,490)		—		—		(368,490)
Equity-based compensation	—		26,686		—		—		—		—		26,686
Proceeds from Options exercised	—		23,584		—		—		—		—		23,584
Treasury stock issued upon Option exercise	—		(9,581)		—		9,581		—		—		—
Balance, September 30, 2022	$	206	$	2,538,812	$	11,318,646	$	(10,772,825)	$	(16,710)	$	16,710	$	3,084,839

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 RSU 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 nine months ended September 30, 2022 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, December 31, 2021	$	206	$	2,378,191	$	10,047,839	$	(9,423,858)	$	(16,710)	$	16,710	$	3,002,378
Net income	—		—		1,270,807		—		—		—		1,270,807
Purchase of common stock for treasury	—		—		—		(1,384,193)		—		—		(1,384,193)
Equity-based compensation	—		58,441		—		—		—		—		58,441
Proceeds from Options exercised	—		137,406		—		—		—		—		137,406
Treasury stock issued upon Option exercise	—		(35,226)		—		35,226		—		—		—
Balance, September 30, 2022	$	206	$	2,538,812	$	11,318,646	$	(10,772,825)	$	(16,710)	$	16,710	$	3,084,839

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 RSU 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