Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2025

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 securities, foreign currency translation adjustments, and derivative instruments.

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,
	2025		2024		2025		2024
Foreign currency translation adjustments:
Balance at beginning of period	$	(6,162,966)	$	(5,484,932)	$	(5,817,736)	$	(4,534,719)
Other comprehensive income (loss)	2,109,011		(509,541)		1,763,781		(1,459,754)

Net current-period change	2,109,011		(509,541)		1,763,781		(1,459,754)
Balance at end of period	(4,053,955)		(5,994,473)		(4,053,955)		(5,994,473)

Unrealized gains (losses) on debt securities:
Balance at beginning of period	1,132,844		(1,981,394)		(591,605)		(2,022,403)
Other comprehensive income (loss) before reclassifications	1,107,816		(281,297)		1,480,018		(829,754)
Amounts reclassified from accumulated other comprehensive income (loss)	(599,514)		281,511		752,733		870,977
Net current-period change	508,302		214		2,232,751		41,223
Balance at end of period	1,641,146		(1,981,180)		1,641,146		(1,981,180)

Unrealized gains on derivatives:
Balance at beginning of period	—		—		—		—
Other comprehensive loss before reclassifications	(1,235,940)		—		(1,235,940)		—
Amounts reclassified from accumulated other comprehensive loss	252,100		—		252,100		—
Net current-period change	(983,840)		—		(983,840)		—
Balance at end of period	(983,840)		—		(983,840)		—

Accumulated other comprehensive loss, end of period	$	(3,396,649)	$	(7,975,653)	$	(3,396,649)	$	(7,975,653)

The following table presents details of reclassifications out of accumulated other comprehensive loss for the three and six months ended June 30, 2025 and 2024:


Details about Accumulated Other Comprehensive Loss Components	Amounts Reclassified from Other Comprehensive Loss								Affected Line item in the Unaudited Condensed Consolidated Statements of Income
	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Unrealized gains (losses) on debt securities
Realized gain (loss) on sale of securities	$	758,879	$	(356,343)	$	(952,826)	$	(1,102,503)	Other, net
(Benefit) provision for income taxes	(159,365)		74,832		200,093		231,526		Provision for income taxes
Total net reclassifications for the period	$	599,514	$	(281,511)	$	(752,733)	$	(870,977)

Unrealized gains (losses) on derivatives
Realized loss on sale of settlement of derivatives	$	(373,205)	$	—	$	(373,205)	$	—	Other, net
Provision for income taxes	$	121,105	—		$	121,105	—		Provision for income taxes
Total net reclassifications for the period	$	(252,100)	$	—	$	(252,100)	$	—

Total reclassifications for the period	$	347,414	$	(281,511)	$	(1,004,833)	$	(870,977)