Note 19 - Other Comprehensive Income

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

19. OTHER COMPREHENSIVE INCOME

The Company’s other comprehensive income of $1.2 million is for the period of October 14 – December 31, 2022, the period after the acquisition of TransGlobe. The functional currency of TransGlobe Energy Corporation is the Canadian Dollar. All of the Company’s other comprehensive income arises from the currency translation of TransGlobe Energy Corporation to USD.

The components of accumulated other comprehensive income are as follows: 

	Currency Translation Adjustments
	(in thousands)
Balance at December 31, 2021	$	—
Accumulated other comprehensive income (loss) before reclassifications		1,179
Amounts reclassified from accumulated other comprehensive income (loss)		—
Balance at December 31, 2022	$	1,179