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Shareholders' Equity
9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
A summary of changes in shareholders’ equity for the three months ended September 30, 2025 is presented below:
 Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Treasury
Stock
Deferred
Compensation
Trust
Deferred
Compensation
Liability
Total
Balance, June 30, 2025$206 $3,085,904 $15,680,266 $(14,921,245)$(16,710)$16,710 $3,845,131 
Net income— — 342,688 — — — 342,688 
Purchase of common stock for treasury— — — (278,094)— — (278,094)
Equity-based compensation— 17,356 — — — — 17,356 
Proceeds from Options exercised— 39,681 — — — — 39,681 
Treasury stock issued upon Option exercise and RSU vesting
— (10,961)— 10,961 — — — 
Balance, September 30, 2025$206 $3,131,980 $16,022,954 $(15,188,378)$(16,710)$16,710 $3,966,762 
A summary of changes in shareholders’ equity for the nine months ended September 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— — 976,001 — — — 976,001 
Purchase of common stock for treasury— — — (1,342,349)— — (1,342,349)
Equity-based compensation— 53,695 — — — — 53,695 
Proceeds from Options exercised— 69,343 — — — — 69,343 
Treasury stock issued upon Option exercise and RSU vesting— (22,695)— 22,695 — — — 
Balance, September 30, 2025$206 $3,131,980 $16,022,954 $(15,188,378)$(16,710)$16,710 $3,966,762 

We repurchased 35,224 and 178,178 shares of our outstanding common stock during the three and nine months ended September 30, 2025, respectively. We settle Option exercises and vesting of RSUs by issuing shares of treasury stock. We issued 12,908 and 27,433 shares from the treasury account during the three and nine months ended September 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 September 30, 2024 is presented below:
 Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Treasury
Stock
Deferred
Compensation
Trust
Deferred
Compensation
Liability
Total
Balance, June 30, 2024$206 $2,935,053 $14,160,198 $(12,961,549)$(16,710)$16,710 $4,133,908 
Net income— — 429,323 — — — 429,323 
Purchase of common stock for treasury— — — (359,520)— — (359,520)
Equity-based compensation— 19,223 — — — — 19,223 
Proceeds from Options exercised— 48,314 — — — — 48,314 
Treasury stock issued upon Option exercise — (12,814)— 12,814 — — — 
Balance, September 30, 2024$206 $2,989,776 $14,589,521 $(13,308,255)$(16,710)$16,710 $4,271,248 
A summary of changes in shareholders’ equity for the nine months ended September 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— — 1,224,496 — — — 1,224,496 
Purchase of common stock for treasury— — — (1,503,216)— — (1,503,216)
Equity-based compensation— 54,465 — — — — 54,465 
Proceeds from Options exercised— 130,778 — — — — 130,778 
Treasury stock issued upon Option exercise and RSU vesting
— (43,995)— 43,995 — — — 
Balance, September 30, 2024$206 $2,989,776 $14,589,521 $(13,308,255)$(16,710)$16,710 $4,271,248 
We repurchased 42,629 and 192,655 shares of our outstanding common stock during the three and nine months ended September 30, 2024, respectively. We issued 17,153 and 61,939 shares from the treasury account during the three and nine months ended September 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.