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15) Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2020
Probst Family Funerals and Cremations and Heber Valley Funeral Home |
Estimated Fair Values of Assets Acquired and Liabilities Assumed | The estimated fair values of the assets acquired and liabilities assumed as of the date of acquisition were as follows:
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
Kilpatrick |
Estimated Fair Values of Assets Acquired and Liabilities Assumed | As part of the coinsurance agreement, effective October 1, 2019, Security National Life acquired the following assets and assumed the following contractual liabilities.
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
The estimated fair values of the assets acquired and liabilities assumed as of the date of acquisition, on December 13, 2019, are shown in the following table. At the time of acquisition some of these assets and liabilities became intercompany items, and the Company has eliminated them for consolidation.
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.

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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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