Shareholders' Equity

9 Months Ended

Sep. 30, 2011

Shareholders' Equity [Abstract]

Shareholders' Equity

7. Shareholders’ Equity

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

	Common Stock		Additional Paid-In Capital			Retained Earnings		Treasury Stock			Deferred Comp. Trust			Deferred Comp. Liability			Total
Balance, December 31, 2010	$	206	$	951,234		$	4,029,072	$	(3,240,138	)	$	(27,582	)	$	27,582		$	1,740,374
Net income		—		—			97,028		—			—			—			97,028
Deferred compensation activity		—		—			—		—			2,000			(2,000	)		—
Purchase of common stock for treasury		—		—			—		(666,628	)		—			—			(666,628	)
Equity-based compensation		—		47,966			—		—			—			—			47,966
Tax benefit from stock options exercised and deferred compensation distributions		—		21,272			—		—			—			—			21,272
Proceeds from stock options exercised		—		106,007			—		—			—			—			106,007
Treasury stock issued upon option exercise		—		(72,245	)		—		72,245			—			—			—
Balance, September 30, 2011	$	206	$	1,054,234		$	4,126,100	$	(3,834,521	)	$	(25,582	)	$	25,582		$	1,346,019

The Company repurchased 979,265 shares of its common stock during the nine months ended September 30, 2011 at an aggregate purchase price of $666,628. 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 331,000 options to purchase shares of the Company’s common stock were exercised during the nine months ended September 30, 2011.