v3.25.2
Shareholders' Equity
 6 Months Ended
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.