Shareholders' Equity

9 Months Ended

Sep. 30, 2012

Shareholders' Equity

8. 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, 2011	$	206	$	1,072,779		$	4,158,492	$	(3,856,678	)	$	(25,581	)	$	25,581		$	1,374,799
Net income		—		—			119,961		—			—			—			119,961
Deferred compensation activity		—		—			—		—			250			(250	)		—
Purchase of common stock for treasury		—		—			—		(220,128	)		—			—			(220,128	)
Equity-based compensation		—		50,136			—		—			—			—			50,136
Tax benefit from equity benefit plan activity		—		5,687			—		—			—			—			5,687
Proceeds from stock options exercised		—		48,853			—		—			—			—			48,853
Treasury stock issued upon option exercise and restricted share vesting		—		(43,149	)		—		43,149			—			—			—
Balance, September 30, 2012	$	206	$	1,134,306		$	4,278,453	$	(4,033,657	)	$	(25,331	)	$	25,331		$	1,379,308

The Company repurchased 276,995 shares of its common stock during the nine months ended September 30, 2012 at an aggregate purchase price of $220,128. The Company settles share issuances under equity benefit plans by issuing shares of treasury stock. Approximately 174,000 shares were issued from the treasury account during the nine months ended September 30, 2012 for option exercises and vesting of restricted share units. Shares are relieved from the treasury account based on the weighted average cost basis of treasury shares acquired.