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Shareholders' Equity
 6 Months Ended
Jun. 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

 

 

—

 

 

 

—

 

 

 

156,979

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

156,979

 

Deferred compensation activity

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(22

)

 

 

22

 

 

 

—

 

Purchase of common stock for treasury

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(96,508

)

 

 

—

 

 

 

—

 

 

 

(96,508

)

Equity-based compensation

 

 

—

 

 

 

21,378

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

21,378

 

Excess tax benefit from equity benefit plan activity

 

 

—

 

 

 

8,678

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,678

 

Proceeds from stock options exercised

 

 

—

 

 

 

27,909

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

27,909

 

Treasury stock issued upon option exercise and restricted share vesting

 

 

—

 

 

 

(22,696

)

 

 

—

 

 

 

22,696

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance, June 30, 2016

 

$

206

 

 

$

1,483,064

 

 

$

5,427,093

 

 

$

(5,552,762

)

 

$

(17,355

)

 

$

17,355

 

 

$

1,357,601

 

 

 

The Company repurchased 62 shares of its common stock during the six months ended June 30, 2016. The Company settles option exercises and vesting of restricted share units by issuing shares of treasury stock.  Approximately 69 shares were issued from the treasury account during the six months ended June 30, 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.