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Comprehensive Income | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Comprehensive Income | COMPREHENSIVE INCOME 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 certain investments, foreign currency translation adjustments, and unrealized movement in derivative financial instruments designated as hedges.
| For the Twelve Months ended December 31,
| 2019 |  | 2018 |  | 2017
Foreign currency translation adjustments: |  |  |  |  |
Balance at beginning of period | $ | (1,674,887 | ) |  | $ | 645,030 |  |  | $ | (2,862,999 | )
Other comprehensive (loss) income before reclassifications | (709,702 | ) |  | (2,319,917 | ) |  | 3,508,029 |
Net current-period change | (709,702 | ) |  | (2,319,917 | ) |  | 3,508,029 |
Balance at end of period | (2,384,589 | ) |  | (1,674,887 | ) |  | 645,030 |
Unrealized gains (losses) on available-for-sale securities: |  |  |  |  |
Balance at beginning of period | 74,549 |  |  | 6,626,379 |  |  | 2,788,975 |
ASU 2016-01 adoption impact | — |  |  | (6,642,727 | ) |  | — |
Other comprehensive income before reclassifications | 1,403,521 |  |  | 1,675,823 |  |  | 4,444,360 |
Amounts reclassified from accumulated other comprehensive income | (382,584 | ) |  | (1,584,926 | ) |  | (606,956 | )
Net current-period change | 1,020,937 |  |  | (6,551,830 | ) |  | 3,837,404 |
Balance at end of period | 1,095,486 |  |  | 74,549 |  |  | 6,626,379 |
Unrealized gains (losses) on derivatives: |  |  |  |  |
Balance at beginning of period | — |  |  | (78,026 | ) |  | (1,197,281 | )
Other comprehensive income before reclassifications | — |  |  | 175,308 |  |  | 248,042 |
Amounts reclassified from accumulated other comprehensive income | — |  |  | (97,282 | ) |  | 871,213 |
Net current-period change | — |  |  | 78,026 |  |  | 1,119,255 |
Balance at end of period | — |  |  | — |  |  | (78,026 | )
Accumulated other comprehensive (loss) income, end of period | $ | (1,289,103 | ) |  | $ | (1,600,338 | ) |  | $ | 7,193,383 |
All amounts are shown net of tax. Amounts in parentheses indicate debits. The following table presents details of reclassifications out of other comprehensive income for the twelve months ended December 31, 2019, 2018 and 2017.
Details about Accumulated Other Comprehensive Income Components |  |  |  | Affected Line item in the Statement of Consolidated Income
|  | For the Twelve Months ended December 31, |  |
|  | 2019 |  | 2018 |  | 2017 |  |
Unrealized gains on available-for-sale debt securities |  |  |  |  |  |  |  |
Realized gain on sale of securities |  | $ | 484,283 |  |  | $ | 2,006,235 |  |  | $ | 933,778 |  |  | Other income (expense), net
Provision for income taxes |  | (101,699 | ) |  | (421,309 | ) |  | (326,822 | ) |  | Provision for Income Taxes
Total reclassifications for the period |  | $ | 382,584 |  |  | $ | 1,584,926 |  |  | $ | 606,956 |  |  | Net of tax
Unrealized gains (losses) on derivatives |  |  |  |  |  |  |  |
Realized loss on interest rate swap |  | $ | — |  |  | $ | 123,142 |  |  | $ | (1,340,329 | ) |  | Other income (expense), net
Provision for income taxes |  | — |  |  | (25,860 | ) |  | 469,116 |  |  | Provision for Income Taxes
|  | $ | — |  |  | $ | 97,282 |  |  | $ | (871,213 | ) |  | Net of tax
Total reclassifications for the period |  | $ | 382,584 |  |  | $ | 1,682,208 |  |  | $ | (264,257 | ) |  | Net of tax

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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- References No definition available. + Details
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