COMPREHENSIVE INCOME

12 Months Ended

Dec. 31, 2023

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 available for sale investments and foreign currency translation adjustments.


	For the Years ended December 31,
	2023		2022		2021
Foreign currency translation adjustments:
Balance at beginning of period	$	(4,032,239)	$	920,589	$	769,045
Other comprehensive (loss) income before reclassifications	(502,480)		(4,952,828)		151,544

Net current-period change	(502,480)		(4,952,828)		151,544
Balance at end of period	(4,534,719)		(4,032,239)		920,589

Unrealized gains (losses) on available-for-sale securities:
Balance at beginning of period	(10,110,695)		1,006,655		6,082,007
Other comprehensive income (loss) before reclassifications	3,360,396		(12,470,515)		(4,228,434)
Amounts reclassified from accumulated other comprehensive income (loss)	4,727,896		1,353,165		(846,918)
Net current-period change	8,088,292		(11,117,350)		(5,075,352)
Balance at end of period	(2,022,403)		(10,110,695)		1,006,655







Accumulated other comprehensive (loss) income, end of period	$	(6,557,122)	$	(14,142,934)	$	1,927,244

All amounts are shown net of tax. Amounts in parentheses indicate debits.

The following table presents details of reclassifications from accumulated other comprehensive (loss) income for the years ended December 31, 2023, 2022 and 2021:


Details about Accumulated Other Comprehensive (Loss) Income Components							Affected Line item in the Statement of Consolidated Income
	For the Years ended December 31,
	2023		2022		2021
Unrealized (losses) gains on available-for-sale securities
Realized (loss) gain on sale of securities	$	(5,984,678)	$	(1,712,867)	$	1,072,048	Other (loss) income, net
Provision for income taxes	1,256,782		359,702		(225,130)		Provision for Income Taxes







Total reclassifications for the period	$	(4,727,896)	$	(1,353,165)	$	846,918	Net of tax