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Shareholders' Equity | 6 Months Ended
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Jun. 30, 2025
Equity [Abstract] |
Shareholders' Equity | Shareholders’ Equity A summary of changes in shareholders’ equity for the three months ended June 30, 2025 is presented below:
|  | Common Stock |  | Additional Paid-In Capital |  | Retained Earnings |  | Treasury Stock |  | Deferred Compensation Trust |  | Deferred Compensation Liability |  | Total
Balance, March 31, 2025 |  | $ | 206 |  |  | $ | 3,057,037 |  |  | $ | 15,346,529 |  |  | $ | (14,449,108) |  |  | $ | (16,710) |  |  | $ | 16,710 |  |  | $ | 3,954,664 |
Net income |  | — |  |  | — |  |  | 333,737 |  |  | — |  |  | — |  |  | — |  |  | 333,737 |
Purchase of common stock for treasury |  | — |  |  | — |  |  | — |  |  | (475,806) |  |  | — |  |  | — |  |  | (475,806) |
Equity-based compensation |  | — |  |  | 17,812 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 17,812 |
Proceeds from Options exercised |  | — |  |  | 14,724 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14,724 |
Treasury stock issued upon Option exercise |  | — |  |  | (3,669) |  |  | — |  |  | 3,669 |  |  | — |  |  | — |  |  | — |
Balance, June 30, 2025 |  | $ | 206 |  |  | $ | 3,085,904 |  |  | $ | 15,680,266 |  |  | $ | (14,921,245) |  |  | $ | (16,710) |  |  | $ | 16,710 |  |  | $ | 3,845,131 |
A summary of changes in shareholders’ equity for the six months ended June 30, 2025 is presented below:
|  | Common Stock |  | Additional Paid-In Capital |  | Retained Earnings |  | Treasury Stock |  | Deferred Compensation Trust |  | Deferred Compensation Liability |  | Total
Balance, December 31, 2024 |  | $ | 206 |  |  | $ | 3,031,637 |  |  | $ | 15,046,953 |  |  | $ | (13,868,724) |  |  | $ | (16,710) |  |  | $ | 16,710 |  |  | $ | 4,210,072 |
Net income |  | — |  |  | — |  |  | 633,313 |  |  | — |  |  | — |  |  | — |  |  | 633,313 |
Purchase of common stock for treasury |  | — |  |  | — |  |  | — |  |  | (1,064,255) |  |  | — |  |  | — |  |  | (1,064,255) |
Equity-based compensation |  | — |  |  | 36,339 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,339 |
Proceeds from Options exercised |  | — |  |  | 29,662 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 29,662 |
Treasury stock issued upon Option exercise and RSU vesting |  | — |  |  | (11,734) |  |  | — |  |  | 11,734 |  |  | — |  |  | — |  |  | — |
Balance, June 30, 2025 |  | $ | 206 |  |  | $ | 3,085,904 |  |  | $ | 15,680,266 |  |  | $ | (14,921,245) |  |  | $ | (16,710) |  |  | $ | 16,710 |  |  | $ | 3,845,131 |
We repurchased 65,834 and 142,954 shares of our outstanding common stock during the three and six months ended June 30, 2025, respectively. We settle Option exercises and vesting of RSUs by issuing shares of treasury stock. We issued 4,434 and 14,525 shares from the treasury account during the three and six months ended June 30, 2025, respectively, 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. A summary of changes in shareholders’ equity for the three months ended June 30, 2024 is presented below:
|  | Common Stock |  | Additional Paid-In Capital |  | Retained Earnings |  | Treasury Stock |  | Deferred Compensation Trust |  | Deferred Compensation Liability |  | Total
Balance, March 31, 2024 |  | $ | 206 |  |  | $ | 2,905,707 |  |  | $ | 13,759,294 |  |  | $ | (12,320,826) |  |  | $ | (16,710) |  |  | $ | 16,710 |  |  | $ | 4,344,381 |
Net income |  | — |  |  | — |  |  | 400,904 |  |  | — |  |  | — |  |  | — |  |  | 400,904 |
Purchase of common stock for treasury |  | — |  |  | — |  |  | — |  |  | (644,920) |  |  | — |  |  | — |  |  | (644,920) |
Equity-based compensation |  | — |  |  | 18,101 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18,101 |
Proceeds from Options exercised |  | — |  |  | 15,442 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15,442 |
Treasury stock issued upon Option exercise |  | — |  |  | (4,197) |  |  | — |  |  | 4,197 |  |  | — |  |  | — |  |  | — |
Balance, June 30, 2024 |  | $ | 206 |  |  | $ | 2,935,053 |  |  | $ | 14,160,198 |  |  | $ | (12,961,549) |  |  | $ | (16,710) |  |  | $ | 16,710 |  |  | $ | 4,133,908 |
A summary of changes in shareholders’ equity for the six months ended June 30, 2024 is presented below:
|  | Common Stock |  | Additional Paid-In Capital |  | Retained Earnings |  | Treasury Stock |  | Deferred Compensation Trust |  | Deferred Compensation Liability |  | Total
Balance, December 31, 2023 |  | $ | 206 |  |  | $ | 2,848,528 |  |  | $ | 13,365,025 |  |  | $ | (11,849,034) |  |  | $ | (16,710) |  |  | $ | 16,710 |  |  | $ | 4,364,725 |
Net income |  | — |  |  | — |  |  | 795,173 |  |  | — |  |  | — |  |  | — |  |  | 795,173 |
Purchase of common stock for treasury |  | — |  |  | — |  |  | — |  |  | (1,143,696) |  |  | — |  |  | — |  |  | (1,143,696) |
Equity-based compensation |  | — |  |  | 35,242 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 35,242 |
Proceeds from Options exercised |  | — |  |  | 82,464 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 82,464 |
Treasury stock issued upon Option exercise and RSU vesting |  | — |  |  | (31,181) |  |  | — |  |  | 31,181 |  |  | — |  |  | — |  |  | — |
Balance, June 30, 2024 |  | $ | 206 |  |  | $ | 2,935,053 |  |  | $ | 14,160,198 |  |  | $ | (12,961,549) |  |  | $ | (16,710) |  |  | $ | 16,710 |  |  | $ | 4,133,908 |
We repurchased 83,168 and 150,026 shares of our outstanding common stock during the three and six months ended June 30, 2024, respectively. We issued 5,809 and 44,786 shares from the treasury account during the three and six months ended June 30, 2024, respectively, 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.

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