Shareholders' Equity (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Equity [Abstract]

Summary of Changes in Shareholders' Equity

A summary of changes in shareholders’ equity for the three months ended June 30, 2023 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, March 31, 2023	$	206	$	2,676,641	$	12,117,766	$	(10,949,267)	$	(16,710)	$	16,710	$	3,845,346
Net income	—		—		404,027		—		—		—		404,027
Purchase of common stock for treasury	—		—		—		(201,077)		—		—		(201,077)
Equity-based compensation	—		25,159		—		—		—		—		25,159
Proceeds from Options exercised	—		79,808		—		—		—		—		79,808
Treasury stock issued upon Option exercise	—		(33,921)		—		33,921		—		—		—
Balance, June 30, 2023	$	206	$	2,747,687	$	12,521,793	$	(11,116,423)	$	(16,710)	$	16,710	$	4,153,263

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

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, March 31, 2022	$	206	$	2,416,660	$	10,473,939	$	(10,165,206)	$	(16,710)	$	16,710	$	2,725,599
Net income	—		—		433,314		—		—		—		433,314
Purchase of common stock for treasury	—		—		—		(266,915)		—		—		(266,915)
Equity-based compensation	—		20,087		—		—		—		—		20,087
Proceeds from Options exercised	—		79,581		—		—		—		—		79,581
Treasury stock issued upon Option exercise	—		(18,205)		—		18,205		—		—		—
Balance, June 30, 2022	$	206	$	2,498,123	$	10,907,253	$	(10,413,916)	$	(16,710)	$	16,710	$	2,991,666

A summary of changes in shareholders’ equity for the six months ended June 30, 2023 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, December 31, 2022	$	206	$	2,600,014	$	11,773,414	$	(10,866,785)	$	(16,710)	$	16,710	$	3,506,849
Net income	—		—		748,379		—		—		—		748,379
Purchase of common stock for treasury	—		—		—		(311,125)		—		—		(311,125)
Equity-based compensation	—		47,436		—		—		—		—		47,436
Proceeds from Options exercised	—		161,724		—		—		—		—		161,724
Treasury stock issued upon Option exercise and RSU vesting	—		(61,487)		—		61,487		—		—		—
Balance, June 30, 2023	$	206	$	2,747,687	$	12,521,793	$	(11,116,423)	$	(16,710)	$	16,710	$	4,153,263

A summary of changes in shareholders’ equity for the six months ended June 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	—		—		859,414		—		—		—		859,414
Purchase of common stock for treasury	—		—		—		(1,015,703)		—		—		(1,015,703)
Equity-based compensation	—		31,755		—		—		—		—		31,755
Proceeds from Options exercised	—		113,822		—		—		—		—		113,822
Treasury stock issued upon Option exercise	—		(25,645)		—		25,645		—		—		—
Balance, June 30, 2022	$	206	$	2,498,123	$	10,907,253	$	(10,413,916)	$	(16,710)	$	16,710	$	2,991,666