Shareholders' Equity

3 Months Ended

Mar. 31, 2014

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, 2013	$	206	$	1,212,050		$	4,605,557	$	(4,556,461	)	$	(17,741	)	$	17,741	$	1,261,352
Net income		—		—			23,849		—			—			—		23,849
Purchase of common stock for treasury		—		—			—		(32,578	)		—			—		(32,578	)
Equity-based compensation		—		10,703			—		—			—			—		10,703
Tax benefit from equity benefit plan activity		—		5,696			—		—			—			—		5,696
Proceeds from stock options exercised		—		57,060			—		—			—			—		57,060
Treasury stock issued upon option exercise and restricted share vesting		—		(26,099	)		—		26,099			—			—		—
Balance, March 31, 2014	$	206	$	1,259,410		$	4,629,406	$	(4,562,940	)	$	(17,741	)	$	17,741	$	1,326,082

The Company repurchased 32,377 shares of its common stock during the three months ended March 31, 2014. The Company settles option exercises and vesting of restricted share units by issuing shares of treasury stock. Approximately 92,000 shares were issued from the treasury account during the first quarter of 2014 in settlement of 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.