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20) Acquisitions: Estimated Fair Values of Assets Acquired and Liabilities Assumed (Tables) | 12 Months Ended
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Dec. 31, 2019
Coinsurance Agreement |
Estimated Fair Values of Assets Acquired and Liabilities Assumed |
Other investments and policy loans | $ 9,124,459
Real estate held for investment | 2,850,000
Mortgage loans held for investment | 200,000
Receivables | 131,258
Total assets acquired | 12,305,717
Future policy benefits and unpaid claims | (165,404,970)
Other liabilities and accrued expenses | (5,259,341)
Total liabilities assumed | (170,664,311)
Cash received for reinsurance assumed | $ 158,358,594
Kilpatrick Life Insurance Co |
Estimated Fair Values of Assets Acquired and Liabilities Assumed |
Fixed maturity securities, available for sale | $ 22,766,520 |
Fixed maturity securities, held to maturity | 16,436 |
Mortgage loans held for investment | 8,011,660 |
Real estate held for investment | 2,708,557 |
Other investments | 446,655 |
Accrued investment income | 183,527 |
Total investments | 34,133,355 |
Cash and cash equivalents | 6,900,654 |
Receivables, net | 5,407,736 | (1)
Receivables from reinsurers | 168,105,064 | (1)
Property and equipment, net | 1,498,245 |
Value of business acquired | 4,962,831 |
Deferred taxes | 167,344 |
Other | 712,323 |
Total assets acquired | 221,887,552 |
Future policy benefits and unpaid claims | (189,071,407) |
Accounts payable | (283,304) |
Other liabilities and accrued expenses | (7,870,944) |
Income taxes | (881,957) |
Total liabilities assumed | (198,107,612) |
Fair value of net assets acquired/consideration paid | $ 23,779,940 |
Fair value of net assets acquired/consideration paid, net of cash acquired | $ 16,879,286 |
(1) Receivable from reinsurers of $162,907,008 and receivables, net of $5,000,000 were settled with the recapture of the coinsurance agreement by Kilpatrick Life from Security National Life.
Probst Family Funerals and Cremations and Heber Valley Funeral Home |
Estimated Fair Values of Assets Acquired and Liabilities Assumed |
Cash | $ 53,859
Property and equipment | 2,475,526
Receivables | 13,620
Goodwill | 754,018
Other | 21,800
Total assets acquired | 3,318,823
Bank and other loans payable | (3,176)
Total liabilities assumed | (3,176)
Fair value of net assets acquired/consideration paid | $ 3,315,647
Fair value of net assets acquired/consideration paid, net of cash acquired | $ 3,261,788
Beta Capital Corp |
Estimated Fair Values of Assets Acquired and Liabilities Assumed |
Other investments - insurance assignments | $ 2,515,783
Other - customer list intangible asset | 890,000
Total assets acquired | 3,405,783
Fair value of net assets acquired/consideration paid | $ 3,405,783

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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