Shareholders' Equity

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Shareholders' Equity

10. 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		—		—			92,027		—			—			—		92,027
Purchase of common stock for treasury		—		—			—		(347,448	)		—			—		(347,448	)
Equity-based compensation		—		26,641			—		—			—			—		26,641
Tax benefit from equity benefit plan activity		—		6,050			—		—			—			—		6,050
Proceeds from stock options exercised		—		60,593			—		—			—			—		60,593
Treasury stock issued upon option exercise and restricted share vesting		—		(27,579	)		—		27,579			—			—		—
Balance, June 30, 2014	$	206	$	1,277,755		$	4,697,584	$	(4,876,330	)	$	(17,741	)	$	17,741	$	1,099,215

The Company repurchased 317,739 shares of its common stock during the six months ended June 30, 2014. The Company settles option exercises and vesting of restricted share units by issuing shares of treasury stock. Approximately 97,000 shares were issued from the treasury account during the six months ended June 30, 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.