Comprehensive Income

6 Months Ended

Jun. 30, 2022

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,
	2022		2021		2022		2021
Foreign currency translation adjustments:
Balance at beginning of period	$	24,169	$	(83,367)	$	920,589	$	769,045
Other Comprehensive (loss) income before reclassifications	(3,131,326)		963,199		(4,027,746)		110,787

Net current-period change	(3,131,326)		963,199		(4,027,746)		110,787
Balance at end of period	(3,107,157)		879,832		(3,107,157)		879,832

Unrealized gains on available-for-sale debt securities:
Balance at beginning of period	(5,151,577)		2,038,034		1,006,655		6,082,007
Other Comprehensive (loss) income before reclassifications	(2,903,717)		1,610,141		(9,327,653)		(2,082,477)
Amounts reclassified from accumulated other comprehensive income	206,572		(262,969)		472,276		(614,324)
Net current-period change	(2,697,145)		1,347,172		(8,855,377)		(2,696,801)
Balance at end of period	(7,848,722)		3,385,206		(7,848,722)		3,385,206







Accumulated other comprehensive (loss) income, end of period	$	(10,955,879)	$	4,265,038	$	(10,955,879)	$	4,265,038

The following table presents details of reclassifications out of accumulated other comprehensive (loss) income for the three and six months ended June 30, 2022 and 2021:


Details about Accumulated Other Comprehensive Income Components	Amounts Reclassified from Other Comprehensive (Loss) Income								Affected Line item in the Consolidated Statements of Income
	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Unrealized (losses) gains on available-for-sale debt securities
Realized (loss) gain on sale of securities	$	(261,483)	$	332,872	$	(597,818)	$	777,625	Investment income
Provision for income taxes	54,911		(69,903)		125,542		(163,301)		Provision for income taxes
Total net reclassifications for the period	$	(206,572)	$	262,969	$	(472,276)	$	614,324	Net of tax