Quarterly report pursuant to Section 13 or 15(d)

Note 17 - Other Comprehensive Income

v3.23.2
Note 17 - Other Comprehensive Income
6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Comprehensive Income (Loss) Note [Text Block]

17. OTHER COMPREHENSIVE INCOME 

 

The Company’s other comprehensive income was $2.0 million for the three months ended June 30, 2023. 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, 2022

  $ 1,179  

Accumulated other comprehensive income (loss) before reclassifications

    (125 )

Balance at March 31, 2023

  $ 1,054  

Accumulated other comprehensive income (loss) before reclassifications

    2,006  

Balance at June 30, 2023

  $ 3,060