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15) Business Segment Information: Schedule of Segment Reporting Information, by Segment (Tables) | 12 Months Ended
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Dec. 31, 2019
Tables/Schedules |
Schedule of Segment Reporting Information, by Segment |
| 2019
| Life |  | Cemetery/ |  |  | Intercompany |
| Insurance |  | Mortuary |  | Mortgage |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |
From external sources: |  |  |  |  |  |  |  |  |
Revenue from customers | $ 81,860,610 |  | $ 15,296,235 |  | $ 131,976,082 |  | $ - |  | $ 229,132,927
Net investment income | 41,610,831 |  | 579,995 |  | 828,647 |  | - |  | 43,019,473
Gains on investments and other assets | 138,330 |  | 530,098 |  | 59,939 |  | - |  | 728,367
Other revenues | 2,128,961 |  | 95,197 |  | 7,956,005 |  | - |  | 10,180,163
Intersegment revenues: |  |  |  |  |  |  |  |  |
Net investment income | 4,455,034 |  | 443,548 |  | 508,637 |  | (5,407,219) |  | -
Total revenues | 130,193,766 |  | 16,945,073 |  | 141,329,310 |  | (5,407,219) |  | 283,060,930
Expenses: |  |  |  |  |  |  |  |  |
Death, surrenders and other policy benefits | 44,911,805 |  | - |  | - |  | - |  | 44,911,805
Increase in future policy benefits | 23,568,497 |  | - |  | - |  | - |  | 23,568,497
Amortization of deferred policy and pre-need acquisition costs and value of business acquired | 14,199,152 |  | 435,425 |  | - |  | - |  | 14,634,577
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |
Commissions | 3,632,780 |  | 1,084,079 |  | 52,046,032 |  | - |  | 56,762,891
Personnel | 20,311,591 |  | 5,177,810 |  | 38,731,869 |  | - |  | 64,221,270
Advertising | 595,118 |  | 368,173 |  | 3,821,267 |  | - |  | 4,784,558
Rent and rent related | 451,380 |  | 47,525 |  | 6,556,551 |  | - |  | 7,055,456
Depreciation on property and equipment | 477,247 |  | 428,633 |  | 805,489 |  | - |  | 1,711,369
Cost related to funding mortgage loans | - |  | - |  | 6,278,954 |  | - |  | 6,278,954
Intersegment | 412,853 |  | 180,594 |  | 544,463 |  | (1,137,910) |  | -
Other | 11,769,097 |  | 3,241,023 |  | 19,912,641 |  | - |  | 34,922,761
Interest expense: |  |  |  |  |  |  |  |  |
Intersegment | 490,756 |  | 154,615 |  | 3,623,938 |  | (4,269,309) |  | -
Other | 2,808,081 |  | 288,768 |  | 4,289,839 |  | - |  | 7,386,688
Costs of goods and services sold-mortuaries and cemeteries | - |  | 2,878,169 |  | - |  | - |  | 2,878,169
Total benefits and expenses | 123,628,357 |  | 14,284,814 |  | 136,611,043 |  | (5,407,219) |  | 269,116,995
Earnings before income taxes | $ 6,565,409 |  | $ 2,660,259 |  | $ 4,718,267 |  | $ - |  | $ 13,943,935
Income tax benefit (expense) | (1,085,848) |  | (649,144) |  | (1,315,424) |  | - |  | (3,050,416)
Net earnings | $ 5,479,561 |  | $ 2,011,115 |  | $ 3,402,843 |  | $ - |  | $ 10,893,519
Identifiable assets | $ 1,110,641,526 |  | $ 81,014,182 |  | $ 249,970,323 |  | $ (110,701,544) |  | $ 1,330,924,487
Goodwill | $ 2,765,570 |  | $ 754,018 |  | $ - |  | $ - |  | $ 3,519,588
| 2018
| Life |  | Cemetery/ |  |  | Intercompany |
| Insurance |  | Mortuary |  | Mortgage |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |
From external sources: |  |  |  |  |  |  |  |  |
Revenue from customers | $ 75,928,910 |  | $ 13,726,518 |  | $ 116,185,853 |  | $ - |  | $ 205,841,281
Net investment income | 38,720,365 |  | 283,343 |  | 909,559 |  | - |  | 39,913,267
Gains on investments and other assets | 21,396,282 |  | 2,301,342 |  | 243,555 |  | - |  | 23,941,179
Other revenues | 1,636,901 |  | 128,797 |  | 8,157,302 |  | - |  | 9,923,000
Intersegment revenues: |  |  |  |  |  |  |  |  |
Net investment income | 3,972,532 |  | 429,312 |  | 503,794 |  | (4,905,638) |  | -
Total revenues | 141,654,990 |  | 16,869,312 |  | 126,000,063 |  | (4,905,638) |  | 279,618,727
Expenses: |  |  |  |  |  |  |  |  |
Death, surrenders and other policy benefits | 39,185,087 |  | - |  | - |  | - |  | 39,185,087
Increase in future policy benefits | 24,332,088 |  | - |  | - |  | - |  | 24,332,088
Amortization of deferred policy and pre-need acquisition costs and value of business acquired | 11,270,579 |  | 360,767 |  | - |  | - |  | 11,631,346
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |
Commissions | 3,242,745 |  | 1,222,642 |  | 45,825,965 |  | - |  | 50,291,352
Personnel | 18,489,063 |  | 4,773,866 |  | 44,106,023 |  | - |  | 67,368,952
Advertising | 566,154 |  | 333,852 |  | 3,702,585 |  | - |  | 4,602,591
Rent and rent related | 321,701 |  | 33,138 |  | 7,250,536 |  | - |  | 7,605,375
Depreciation on property and equipment | 400,686 |  | 372,469 |  | 1,093,846 |  | - |  | 1,867,001
Cost related to funding mortgage loans | - |  | - |  | 6,423,944 |  | - |  | 6,423,944
Intersegment | 402,213 |  | 182,009 |  | 531,370 |  | (1,115,592) |  | -
Other | 10,094,626 |  | 3,046,902 |  | 17,873,471 |  | - |  | 31,014,999
Interest expense: |  |  |  |  |  |  |  |  |
Intersegment | 481,587 |  | 173,807 |  | 3,134,652 |  | (3,790,046) |  | -
Other | 2,744,841 |  | 294,535 |  | 3,917,331 |  | - |  | 6,956,707
Costs of goods and services sold-mortuaries and cemeteries | - |  | 2,158,895 |  | - |  | - |  | 2,158,895
Total benefits and expenses | 111,531,370 |  | 12,952,882 |  | 133,859,723 |  | (4,905,638) |  | 253,438,337
Earnings before income taxes | $ 30,123,620 |  | $ 3,916,430 |  | $ (7,859,660) |  | $ - |  | $ 26,180,390
Income tax benefit (expense) | (5,275,662) |  | (946,820) |  | 1,728,171 |  | - |  | (4,494,311)
Net earnings | $ 24,847,958 |  | $ 2,969,610 |  | $ (6,131,489) |  | $ - |  | $ 21,686,079
Identifiable assets | $ 928,251,387 |  | $ 90,639,130 |  | $ 159,680,649 |  | $ (130,525,613) |  | $ 1,048,045,553
Goodwill | $ 2,765,570 |  | $ - |  | $ - |  | $ - |  | $ 2,765,570

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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