Shareholders' Equity (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Equity [Abstract]

Summary of Changes in Shareholders' Equity

A summary of changes in shareholders’ equity for the three months ended June 30, 2024 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, March 31, 2024	$	206	$	2,905,707	$	13,759,294	$	(12,320,826)	$	(16,710)	$	16,710	$	4,344,381
Net income	—		—		400,904		—		—		—		400,904
Purchase of common stock for treasury	—		—		—		(644,920)		—		—		(644,920)
Equity-based compensation	—		18,101		—		—		—		—		18,101
Proceeds from Options exercised	—		15,442		—		—		—		—		15,442
Treasury stock issued upon Option exercise	—		(4,197)		—		4,197		—		—		—
Balance, June 30, 2024	$	206	$	2,935,053	$	14,160,198	$	(12,961,549)	$	(16,710)	$	16,710	$	4,133,908

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 six months ended June 30, 2024 is presented below:

	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Stock		Deferred Compensation Trust		Deferred Compensation Liability		Total
Balance, December 31, 2023	$	206	$	2,848,528	$	13,365,025	$	(11,849,034)	$	(16,710)	$	16,710	$	4,364,725
Net income	—		—		795,173		—		—		—		795,173
Purchase of common stock for treasury	—		—		—		(1,143,696)		—		—		(1,143,696)
Equity-based compensation	—		35,242		—		—		—		—		35,242
Proceeds from Options exercised	—		82,464		—		—		—		—		82,464
Treasury stock issued upon Option exercise and RSU vesting	—		(31,181)		—		31,181		—		—		—
Balance, June 30, 2024	$	206	$	2,935,053	$	14,160,198	$	(12,961,549)	$	(16,710)	$	16,710	$	4,133,908

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	—		(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