Shareholders' Equity

6 Months Ended

Jun. 30, 2011

Shareholders' Equity [Abstract]

Shareholders' Equity

7. Shareholders’ Equity

     A summary of changes in shareholders’ equity is presented below:

			Additional								Deferred			Deferred
	Common		Paid-In			Retained		Treasury			Comp.			Comp.
	Stock		Capital			Earnings		Stock			Trust			Liability			Total
Balance, December 31, 2010	$	206	$	951,234		$	4,029,072	$	(3,240,138	)	$	(27,582	)	$	27,582		$	1,740,374
Net income		—		—			53,619		—			—			—			53,619
Deferred compensation activity		—		—			—		—			2,000			(2,000	)		—
Purchase of common stock for treasury		—		—			—		(300,885	)		—			—			(300,885	)
Equity-based compensation		—		31,705			—		—			—			—			31,705
Tax benefit from stock options exercised and deferred compensation distributions		—		21,391			—		—			—			—			21,391
Proceeds from stock options exercised		—		104,592			—		—			—			—			104,592
Treasury stock issued upon option exercise		—		(71,623	)		—		71,623			—			—			—
Balance, June 30, 2011	$	206	$	1,037,299		$	4,082,691	$	(3,469,400	)	$	(25,582	)	$	25,582		$	1,650,796

     The Company repurchased 411,477 shares of its common stock during the six months ended June 30, 2011 at an aggregate purchase price of $300,885. The Company settles option exercises by issuing shares of treasury stock to option holders. Shares are relieved from the treasury account based on the weighted average cost basis of treasury shares acquired. Approximately 329,000 options to purchase shares of the Company’s common stock were exercised during the six months ended June 30, 2011.