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7) Business Segment Information | 9 Months Ended
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Sep. 30, 2020
Disclosure Text Block [Abstract] |
7) Business Segment Information | 7) Business Segment Information Description of Products and Services by Segment The Company has three reportable business segments: life insurance, cemetery and mortuary, and mortgage. The Company’s life insurance segment consists of life insurance premiums and operating expenses from the sale of insurance products sold by the Company’s independent agency force and net investment income derived from investing policyholder and segment surplus funds. The Company’s cemetery and mortuary segment consists of revenues and operating expenses from the sale of at-need cemetery and mortuary merchandise and services at its mortuaries and cemeteries, pre-need sales of cemetery spaces after collection of 10% or more of the purchase price and the net investment income from investing segment surplus funds. The Company’s mortgage segment consists of fee income and expenses from the originations of residential mortgage loans and interest earned and interest expenses from warehousing loans held for sale. Measurement of Segment Profit or Loss and Segment Assets The accounting policies of the reportable segments are the same as those described in the Significant Accounting Principles of the Form 10-K for the year ended December 31, 2019. Intersegment revenues are recorded at cost plus an agreed upon intercompany profit, and are eliminated upon consolidation. Factors Management Used to Identify the Enterprise’s Reportable Segments The Company’s reportable segments are business units that are managed separately due to the different products provided and the need to report separately to the various regulatory jurisdictions. The Company regularly reviews the quantitative thresholds and other criteria to determine when other business segments may need to be reported.
|  | Life Insurance |  | Cemetery/ Mortuary |  | Mortgage |  | IntercompanyEliminations |  | Consolidated
For the Three Months Ended |  |  |  |  |  |  |  |  |  |
September 30, 2020 |  |  |  |  |  |  |  |  |  |
Revenues from external customers |  | $ 39,261,044 |  | $ 5,495,990 |  | $ 101,447,531 |  | $ - |  | $ 146,204,565
Intersegment revenues |  | 2,952,836 |  | 79,096 |  | 168,890 |  | (3,200,822) |  | -
Segment profit before income taxes |  | 4,807,280 |  | 1,322,303 |  | 32,454,348 |  | - |  | 38,583,931
|  |  |  | - |  |  |  |  |  |
For the Three Months Ended |  |  |  |  |  |  |  |  |  |
September 30, 2019 |  |  |  |  |  |  |  |  |  |
Revenues from external customers |  | $ 29,824,686 |  | $ 3,570,419 |  | $ 41,984,554 |  | $ - |  | $ 75,379,659
Intersegment revenues |  | 1,465,778 |  | 106,638 |  | 120,891 |  | (1,693,307) |  | -
Segment profit before income taxes |  | 1,263,836 |  | 213,198 |  | 3,282,788 |  | - |  | 4,759,822
For the Nine Months Ended |  |  |  |  |  |  |  |  |  |
September 30, 2020 |  |  |  |  |  |  |  |  |  |
Revenues from external customers |  | $ 110,255,399 |  | $ 14,815,991 |  | $ 219,403,866 |  | $ - |  | $ 344,475,256
Intersegment revenues |  | 5,677,189 |  | 272,409 |  | 559,923 |  | (6,509,521) |  | -
Segment profit before income taxes |  | 5,408,482 |  | 2,975,556 |  | 58,867,883 |  | - |  | 67,251,921
Identifiable Assets |  | 1,232,786,760 |  | 55,339,760 |  | 443,756,079 |  | (88,204,200) |  | 1,643,678,399
Goodwill |  | 2,765,570 |  | 754,018 |  | - |  | - |  | 3,519,588
Total Assets |  | 1,235,552,330 |  | 56,093,778 |  | 443,756,079 |  | (88,204,200) |  | 1,647,197,987
For the Nine Months Ended |  |  |  |  |  |  |  |  |  |
September 30, 2019 |  |  |  |  |  |  |  |  |  |
Revenues from external customers |  | $ 88,937,110 |  | $ 12,472,711 |  | $ 103,908,855 |  | $ - |  | $ 205,318,676
Intersegment revenues |  | 3,441,497 |  | 336,911 |  | 372,170 |  | (4,150,578) |  | -
Segment profit before income taxes |  | 4,568,178 |  | 2,421,845 |  | 4,825,801 |  | - |  | 11,815,824
Identifiable Assets |  | 941,739,161 |  | 84,250,592 |  | 243,272,631 |  | (110,132,588) |  | 1,159,129,796
Goodwill |  | 2,765,570 |  | 754,018 |  | - |  | - |  | 3,519,588
Total Assets |  | 944,504,731 |  | 85,004,610 |  | 243,272,631 |  | (110,132,588) |  | 1,162,649,384

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -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 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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