Shareholders' Equity

9 Months Ended

Sep. 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		—		—			182,179		—			—			—			182,179
Deferred compensation activity		—		—			—		—			408			(408	)		—
Purchase of common stock for treasury		—		—			—		(409,436	)		—			—			(409,436	)
Equity-based compensation		—		44,874			—		—			—			—			44,874
Tax benefit from equity benefit plan activity		—		6,786			—		—			—			—			6,786
Proceeds from stock options exercised		—		65,639			—		—			—			—			65,639
Treasury stock issued upon option exercise and restricted share vesting		—		(29,816	)		—		29,816			—			—			—
Balance, September 30, 2014	$	206	$	1,299,533		$	4,787,736	$	(4,936,081	)	$	(17,333	)	$	17,333		$	1,151,394

The Company repurchased 372 shares of its common stock during the nine months ended September 30, 2014. The Company settles Option exercises and vesting of RSUs by issuing shares of treasury stock. Approximately 105 shares were issued from the treasury account during the nine months ended September 30, 2014 in settlement of Option exercises and vesting of RSUs. Shares are relieved from the treasury account based on the weighted average cost basis of treasury shares acquired.