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Shareholders' Equity
 6 Months Ended
Jun. 30, 2015
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, 2014

 

$

206

 

 

$

1,325,495

 

 

$

4,887,187

 

 

$

(5,088,633

)

 

$

(17,333

)

 

$

17,333

 

 

$

1,124,255

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

—

 

 

 

—

 

 

 

132,453

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132,453

 

Purchase of common stock for treasury

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(69,285

)

 

 

—

 

 

 

—

 

 

 

(69,285

)

Equity-based compensation

 

 

—

 

 

 

26,303

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

26,303

 

Tax benefit from equity benefit plan

  activity

 

 

—

 

 

 

9,899

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

9,899

 

Proceeds from stock options exercised

 

 

—

 

 

 

51,256

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

51,256

 

Treasury stock issued upon option

  exercise and restricted share vesting

 

 

—

 

 

 

(23,228

)

 

 

—

 

 

 

23,228

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance, June 30, 2015

 

$

206

 

 

$

1,389,725

 

 

$

5,019,640

 

 

$

(5,134,690

)

 

$

(17,333

)

 

$

17,333

 

 

$

1,274,881

 

 

The Company repurchased 55 shares of its common stock during the six months ended June 30, 2015. The Company settles option exercises and vesting of restricted share units by issuing shares of treasury stock.  Approximately 75 shares were issued from the treasury account during the six months ended June 30, 2015 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.