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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Summary of Significant Accounting Policies [Abstract]  
Summary of Property, Plant and Equipment



 

 

 

 

 

 

 

 

 

 

 

 

 



 

As of



 

December 31,

 

December 31,



 

2019

 

2018

Automobiles

 

$

505,788 

 

$

603,046 

Furniture and fixtures

 

 

457,218 

 

 

436,568 

Computer equipment and software

 

 

3,823,416 

 

 

3,542,339 

Home office

 

 

3,866,632 

 

 

3,849,947 

Total cost

 

 

8,653,054 

 

 

8,431,900 

Accumulated depreciation

 

 

(5,619,706)

 

 

(5,099,090)

Net property and equipment

 

$

3,033,348 

 

$

3,332,810 



Accumulated Other Comprehensive Earnings (Loss)



 

 

 

 

 

 



 

 

Year Ended December 31,



 

 

2019 

 

2018 

Beginning balance

 

$

(1,580,976)

 

$

2,227,069 

Cumulative effect of adoption of ASU 2016-01

 

 

1,366,297 

 

 

 -

Adjusted beginning balance

 

 

(214,679)

 

 

2,227,069 

Oher comprehensive earnings (loss) before reclassifications

 

 

3,393,585 

 

 

(3,049,791)

Amount reclassified from accumulated other comprehensive earnings

 

 

(224,970)

 

 

(758,254)

Net current period other comprehensive earnings (loss)

 

 

3,168,615 

 

 

(3,808,045)

Ending balance

 

$

2,953,936 

 

$

(1,580,976)



Schedule of Reclassifications Out of Accumulated Other Comprehensive Earnings



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

Amounts Reclassified from

Accumulated Other Comprehensive Earnings



 

Twelve-Month Period Ended

 

 

Details about Accumulated Other

 

December 31,

 

Affected Line Item in the Statement

Comprehensive Earnings Component

 

2019

 

2018

 

where Net Earnings is Presented

Unrealized (gains) on AFS investments:

 

 

 

 

 

 

 

 



 

$

(284,772)

 

$

(975,993)

 

Net realized investment (gains)



 

 

 —

 

 

16,178 

 

Other-than-temporary impairment losses



 

 

59,802 

 

 

201,561 

 

Income tax expense

Total reclassification adjustment, net of tax

 

$

(224,970)

 

$

(758,254)