Shareholders' Equity (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Equity [Abstract]

Summary of Changes in Shareholders' Equity

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

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, June 30, 2023	$	206	$	2,747,687	$	12,521,793	$	(11,116,423)	$	(16,710)	$	16,710	$	4,153,263
Net income	—		—		433,157		—		—		—		433,157
Purchase of common stock for treasury	—		—		—		(485,328)		—		—		(485,328)
Equity-based compensation	—		26,052		—		—		—		—		26,052
Proceeds from Options exercised	—		45,439		—		—		—		—		45,439
Treasury stock issued upon Option exercise	—		(18,151)		—		18,151		—		—		—
Balance, September 30, 2023	$	206	$	2,801,027	$	12,954,950	$	(11,583,600)	$	(16,710)	$	16,710	$	4,172,583

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 nine months ended September 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	—		—		1,181,536		—		—		—		1,181,536
Purchase of common stock for treasury	—		—		—		(796,453)		—		—		(796,453)
Equity-based compensation	—		73,488		—		—		—		—		73,488
Proceeds from Options exercised	—		207,163		—		—		—		—		207,163
Treasury stock issued upon Option exercise and RSU vesting	—		(79,638)		—		79,638		—		—		—
Balance, September 30, 2023	$	206	$	2,801,027	$	12,954,950	$	(11,583,600)	$	(16,710)	$	16,710	$	4,172,583

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