Comprehensive Income

9 Months Ended

Sep. 30, 2020

Comprehensive income reflects the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. For the Company, comprehensive income represents net income adjusted for unrealized gains and losses on certain debt investments, foreign currency translation adjustments, and derivatives.

The following table presents the net changes in the Company's accumulated other comprehensive income by component (all amounts shown are net of tax):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Foreign currency translation adjustments:
Balance at beginning of period	$	(2,940,052)	$	(1,851,574)	$	(2,384,589)	$	(1,674,887)
Other Comprehensive income (loss) before reclassifications	1,823,667		(1,623,102)		1,268,204		(1,799,789)

Net current-period change	1,823,667		(1,623,102)		1,268,204		(1,799,789)
Balance at end of period	(1,116,385)		(3,474,676)		(1,116,385)		(3,474,676)

Unrealized gains on available-for-sale debt securities:
Balance at beginning of period	5,679,296		2,350,795		1,095,486		74,549
Other Comprehensive income before reclassifications	208,503		657,128		5,543,455		3,106,369
Amounts reclassified from accumulated other comprehensive income	(324,354)		(295,752)		(1,075,496)		(468,747)
Net current-period change	(115,851)		361,376		4,467,959		2,637,622
Balance at end of period	5,563,445		2,712,171		5,563,445		2,712,171







Accumulated other comprehensive income (loss), end of period	$	4,447,060	$	(762,505)	$	4,447,060	$	(762,505)

The following table presents details of reclassifications out of accumulated other comprehensive income for the three and nine months ended September 30, 2020 and 2019.


Details about Accumulated Other Comprehensive Income Components	Amounts Reclassified from Other Comprehensive Income								Affected Line item in the Statement of Consolidated Income
	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Unrealized gains on available-for-sale debt securities
Realized gain on sale of securities	$	410,575	$	374,370	$	1,361,387	$	593,351	Investment income
Provision for income taxes	(86,221)		(78,618)		(285,891)		(124,604)		Provision for income taxes
Total net reclassifications for the period	$	324,354	$	295,752	$	1,075,496	$	468,747	Net of tax