Shareholders' Equity

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

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 Compensation Trust			Deferred Compensation Liability		Total
Balance, December 31, 2015	$	206	$	1,447,795		$	5,270,114	$	(5,478,950	)	$	(17,333	)	$	17,333	$	1,239,165
Net income		—		—			65,303		—			—			—		65,303
Deferred compensation activity		—		—			—		—			(10	)		10		—
Purchase of common stock for treasury		—		—			—		(87,101	)		—			—		(87,101	)
Equity-based compensation		—		10,549			—		—			—			—		10,549
Excess tax benefit from equity benefit plan activity		—		6,284			—		—			—			—		6,284
Proceeds from stock options exercised		—		22,263			—		—			—			—		22,263
Treasury stock issued upon option exercise and restricted share vesting		—		(19,891	)		—		19,891			—			—		—
Balance, March 31, 2016	$	206	$	1,467,000		$	5,335,417	$	(5,546,160	)	$	(17,343	)	$	17,343	$	1,256,463

The Company repurchased 56 shares of its common stock during the three months ended March 31, 2016. The Company settles option exercises and vesting of restricted share units by issuing shares of treasury stock.  Approximately 60 shares were issued from the treasury account during the three months ended March 31, 2016 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.