Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2024

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 March 31,
	2024		2023
Foreign currency translation adjustments:
Balance at beginning of period	$	(4,534,719)	$	(4,032,239)
Other Comprehensive loss before reclassifications	(950,213)		(121,167)

Net current-period change	(950,213)		(121,167)
Balance at end of period	(5,484,932)		(4,153,406)

Unrealized (losses) gains on available-for-sale debt securities:
Balance at beginning of period	(2,022,403)		(10,110,695)
Other Comprehensive (loss) income before reclassifications	(548,457)		277,718
Amounts reclassified from accumulated other comprehensive income	589,466		1,761,886
Net current-period change	41,009		2,039,604
Balance at end of period	(1,981,394)		(8,071,091)







Accumulated other comprehensive loss, end of period	$	(7,466,326)	$	(12,224,497)

The following table presents details of reclassifications out of accumulated other comprehensive loss for the three and three months ended March 31, 2024 and 2023:


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 March 31,
	2024		2023
Unrealized gains (losses) on available-for-sale debt securities
Realized gain (loss) on sale of securities	$	(746,159)	$	(2,230,236)		Investment income
Provision for income taxes	156,693		468,350			Provision for income taxes
Total net reclassifications for the period	$	(589,466)	$	(1,761,886)