Shareholders' Equity

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Shareholders' Equity

9. Shareholders’ Equity

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

			Additional								Deferred			Deferred
	Common		Paid-In-			Retained		Treasury			Compensation			Compensation
	Stock		Capital			Earnings		Stock			Trust			Liability			Total
Balance, December 31, 2012	$	206	$	1,169,699		$	4,339,080	$	(4,028,508	)	$	(25,331	)	$	25,331		$	1,480,477
Net income		—		—			168,666		—			—			—			168,666
Deferred compensation activity		—		—			—		—			7,590			(7,590	)		—
Purchases of common stock for treasury		—		—			—		(435,809	)		—			—			(435,809	)
Equity-based compensation		—		30,385			—		—			—			—			30,385
Tax benefit from equity benefit plan activity		—		23,811			—		—			—			—			23,811
Proceeds from stock options exercised		—		7,564			—		—			—			—			7,564
Treasury stock issued upon option exercise and restricted share vesting		—		(22,806	)		—		22,806			—			—			—
Balance, September 30, 2013	$	206	$	1,208,653		$	4,507,746	$	(4,441,511	)	$	(17,741	)	$	17,741		$	1,275,094

The Company repurchased 454,782 shares of its common stock during the nine months ended September 30, 2013 at an aggregate purchase price of $435,809. The Company settles Option exercises and vesting of RSUs by issuing shares of treasury stock to Option or RSU holders. Approximately 88,000 shares were issued from the treasury account during the nine months ended September 30, 2013 for Option exercises and vesting of RSUs. Shares are relieved from the treasury account based on the weighted average cost basis of treasury shares acquired.