Comprehensive Income (Loss)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Foreign currency translation adjustments:
Balance at beginning of period	$	(5,609,783)	$	(3,107,157)	$	(4,032,239)	$	920,589
Other Comprehensive (loss) income before reclassifications	(717,457)		17,751,603		(2,295,001)		13,723,857

Net current-period change	(717,457)		17,751,603		(2,295,001)		13,723,857
Balance at end of period	(6,327,240)		14,644,446		(6,327,240)		14,644,446

Unrealized (losses) gains on available-for-sale debt securities:
Balance at beginning of period	(7,632,985)		(7,848,722)		(10,110,695)		1,006,655
Other Comprehensive (loss) income before reclassifications	(1,293,419)		(3,714,578)		(468,359)		(13,042,231)
Amounts reclassified from accumulated other comprehensive income	1,580,904		204,811		3,233,554		677,087
Net current-period change	287,485		(3,509,767)		2,765,195		(12,365,144)
Balance at end of period	(7,345,500)		(11,358,489)		(7,345,500)		(11,358,489)







Accumulated other comprehensive (loss) income, end of period	$	(13,672,740)	$	3,285,957	$	(13,672,740)	$	3,285,957

The following table presents details of reclassifications out of accumulated other comprehensive loss for the three and nine months ended September 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Unrealized gains (losses) on available-for-sale debt securities
Realized gain (loss) on sale of securities	$	(2,001,144)	$	(259,254)	$	(4,093,106)	$	(857,072)	Investment income
Provision for income taxes	420,240		54,443		859,552		179,985		Provision for income taxes
Total net reclassifications for the period	$	(1,580,904)	$	(204,811)	$	(3,233,554)	$	(677,087)