Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2023

Comprehensive income (loss) 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 loss by component (all amounts shown are net of tax):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Foreign currency translation adjustments:
Balance at beginning of period	$	(4,153,406)	$	24,169	$	(4,032,239)	$	920,589
Other Comprehensive loss before reclassifications	(1,456,377)		(3,131,326)		(1,577,544)		(4,027,746)

Net current-period change	(1,456,377)		(3,131,326)		(1,577,544)		(4,027,746)
Balance at end of period	(5,609,783)		(3,107,157)		(5,609,783)		(3,107,157)

Unrealized (losses) gains on available-for-sale debt securities:
Balance at beginning of period	(8,071,091)		(5,151,577)		(10,110,695)		1,006,655
Other Comprehensive income (loss) before reclassifications	547,342		(2,903,717)		825,060		(9,327,653)
Amounts reclassified from accumulated other comprehensive income	(109,236)		206,572		1,652,650		472,276
Net current-period change	438,106		(2,697,145)		2,477,710		(8,855,377)
Balance at end of period	(7,632,985)		(7,848,722)		(7,632,985)		(7,848,722)







Accumulated other comprehensive loss, end of period	$	(13,242,768)	$	(10,955,879)	$	(13,242,768)	$	(10,955,879)

The following table presents details of reclassifications out of accumulated other comprehensive loss for the three and six months ended June 30, 2023 and 2022:


Details about Accumulated Other Comprehensive Loss Components	Amounts Reclassified from Other Comprehensive Loss								Affected Line item in the Consolidated Statements of Income
	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Unrealized gains (losses) on available-for-sale debt securities
Realized gain (loss) on sale of securities	$	138,274	$	(261,483)	$	(2,091,962)	$	(597,818)	Investment income
Provision for income taxes	(29,038)		54,911		439,312		125,542		Provision for income taxes
Total net reclassifications for the period	$	109,236	$	(206,572)	$	(1,652,650)	$	(472,276)