Shareholders' Equity

9 Months Ended

Sep. 30, 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		—		—			274,371		—			—			—		274,371
Deferred compensation activity		—		—			—		—			(34	)		34		—
Purchase of common stock for treasury		—		—			—		(291,743	)		—			—		(291,743	)
Equity-based compensation		—		32,459			—		—			—			—		32,459
Excess tax benefit from equity benefit plan activity		—		10,949			—		—			—			—		10,949
Proceeds from stock options exercised		—		33,938			—		—			—			—		33,938
Treasury stock issued upon option exercise and restricted share vesting		—		(25,371	)		—		25,371			—			—		—
Balance, September 30, 2016	$	206	$	1,499,770		$	5,544,485	$	(5,745,322	)	$	(17,367	)	$	17,367	$	1,299,139

The Company repurchased 178 shares of its common stock during the nine months ended September 30, 2016. The Company settles stock option exercises and vesting of restricted share units by issuing shares of treasury stock.  Approximately 77 shares were issued from the treasury account during the nine months ended September 30, 2016 in settlement of stock 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.