Comprehensive Income

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Comprehensive Income

Comprehensive Income

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 and foreign currency translation adjustments.

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 June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Foreign currency translation adjustments:
Balance at beginning of period	$	(83,367)	$	(3,076,679)	$	769,045	$	(2,384,589)
Other Comprehensive income (loss) before reclassifications	963,199		136,627		110,787		(555,463)
Net current-period change	963,199		136,627		110,787		(555,463)
Balance at end of period	879,832		(2,940,052)		879,832		(2,940,052)
Unrealized gains on available-for-sale debt securities:
Balance at beginning of period	2,038,034		3,291,473		6,082,007		1,095,486
Other Comprehensive income (loss) before reclassifications	1,610,141		3,109,755		(2,082,477)		5,334,951
Amounts reclassified from accumulated other comprehensive income	(262,969)		(721,932)		(614,324)		(751,141)
Net current-period change	1,347,172		2,387,823		(2,696,801)		4,583,810
Balance at end of period	3,385,206		5,679,296		3,385,206		5,679,296
Accumulated other comprehensive income, end of period	$	4,265,038	$	2,739,244	$	4,265,038	$	2,739,244

The following table presents details of reclassifications out of accumulated other comprehensive income for the three and six months ended June 30, 2021 and 2020:

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 June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Unrealized gains on available-for-sale debt securities
Realized gain on sale  of securities	$	332,872	$	913,838	$	777,625	$	950,812	Investment income
Provision for income taxes	(69,903)		(191,906)		(163,301)		(199,671)		Provision for (Benefit from) income taxes
Total net reclassifications for the period	$	262,969	$	721,932	$	614,324	$	751,141	Net of tax