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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Mortgage fee income $ 66,257,851 $ 98,559,624 $ 204,414,276 $ 212,209,718
Insurance premiums and other considerations 26,445,618 23,766,576 74,754,856 68,982,561
Net investment income 15,092,962 14,709,142 43,564,167 41,072,386
Net mortuary and cemetery sales 5,967,675 5,371,715 18,228,199 14,530,584
Gains (losses) on investments and other assets 976,900 800,507 4,414,217 (173,461)
Other 4,768,125 2,997,001 13,542,337 7,853,468
Total revenues 119,509,131 146,204,565 358,918,052 344,475,256
Benefits and expenses:        
Death benefits 15,474,512 16,026,897 48,630,585 43,021,247
Surrenders and other policy benefits 977,190 1,056,318 2,725,791 2,964,984
Increase in future policy benefits 7,485,565 4,892,972 19,140,939 18,534,848
Amortization of deferred policy and pre- need acquisition costs and value of business acquired 4,709,979 4,239,935 11,940,905 10,781,658
Selling, general and administrative expenses:        
Commissions 28,769,191 37,761,992 91,392,436 81,555,823
Personnel 25,122,254 21,700,446 73,822,449 60,959,099
Advertising 1,691,236 1,607,138 5,089,301 3,842,296
Rent and rent related 1,853,960 1,797,161 5,594,206 5,074,755
Depreciation on property and equipment 412,152 516,243 1,387,275 1,550,526
Costs related to funding mortgage loans 2,379,085 3,057,276 8,055,810 7,392,373
Other 13,775,139 11,701,986 37,754,717 33,080,916
Interest expense 1,807,461 2,363,169 5,327,072 6,063,218
Cost of goods and services sold-mortuaries and cemeteries 908,014 899,101 2,880,766 2,401,592
Total benefits and expenses 105,365,738 107,620,634 313,742,252 277,223,335
Earnings before income taxes 14,143,393 38,583,931 45,175,800 67,251,921
Income tax expense (3,352,663) (9,279,162) (10,998,876) (15,965,656)
Net earnings $ 10,790,730 $ 29,304,769 $ 34,176,924 $ 51,286,265
Net earnings per Class A Equivalent common share (1) [1] $ 0.54 $ 1.48 $ 1.70 $ 2.60
Net earnings per Class A Equivalent common share-assuming dilution (1) [1] $ 0.51 $ 1.44 $ 1.63 $ 2.55
Weighted-average Class A equivalent common shares outstanding (1) [1] 20,160,912 19,830,879 20,117,257 19,717,877
Weighted-average Class A equivalent common shares outstanding-assuming dilution (1) [1] 20,980,881 20,418,599 20,927,695 20,142,083
[1] Net earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends. The weighted-average shares outstanding includes the weighted-average Class A common shares and the weighted-average Class C common shares determined on an equivalent Class A common stock basis. Net earnings per common share represent net earnings per equivalent Class A common share.