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Accumulated Other Comprehensive Income
3 Months Ended
Mar. 31, 2018
Shareholders' Equity:  
Accumulated Other Comprehensive Income

(6) ACCUMULATED OTHER COMPREHENSIVE INCOME

 

The United States dollar is the Company’s functional currency, except for its operations in Canada where the functional currency is the Canadian dollar. The financial position and results of operations of the Company’s foreign subsidiaries are measured using the foreign subsidiary’s local currency as the functional currency. In accordance with ASC No. 830, Foreign Currency Matters, revenues and expenses of the Company’s foreign subsidiaries have been translated into U.S. dollars using the weighted average exchange rates during the reporting period, and the assets and liabilities of such subsidiaries have been translated using the period end exchange rate. Accumulated other comprehensive income includes the accumulated gains or losses from these foreign currency translation adjustments. As of March 31, 2018 and December 31, 2017, $297,000 and $345,000 of foreign currency translation adjustments were recorded in accumulated other comprehensive income, respectively.