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Revenues from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Schedule of Opening and Closing Balances of Receivables, Contract Assets and Contract Liabilities

The opening and closing balances of the Company’s receivables, contract assets and contract liabilities are as follows:

 

   Contract Balances 
   Receivables (1)   Contract Asset   Contract Liability 
Opening (1/1/2021)  $4,119,988   $            -   $13,080,179 
Closing (12/31/2021)   5,298,636    -    14,508,022 
Increase/(decrease)   1,178,648    -    1,427,843 

 

   Contract Balances 
   Receivables (1)   Contract Asset   Contract Liability 
Opening (1/1/2020)  $2,778,879   $-   $12,607,978 
Closing (12/31/2020)   4,119,988                 -    13,080,179 
Increase/(decrease)   1,341,109    -    472,201 

 

 

(1)Included in Receivables, net on the consolidated balance sheets

Schedule of Opening and Closing Balances of the Assets and Liabilities

The following table disaggregates the opening and closing balances of the Company’s contract balances.

 

   Contract Balances 
   Contract Asset   Contract Liability 
Pre-need merchandise and services  $-   $12,545,753 
At-need specialty merchandise   -    534,426 
Pre-need land sales   -    - 
Opening (1/1/2021)  $-   $13,080,179 
           
Pre-need merchandise and services  $-   $13,722,348 
At-need specialty merchandise   -    785,674 
Pre-need land sales   -    - 
Closing (12/31/2021)  $-   $14,508,022 

 

   Contract Balances 
   Contract Asset   Contract Liability 
Pre-need merchandise and services  $-   $12,325,437 
At-need specialty merchandise   -    282,541 
Pre-need land sales   -    - 
Opening (1/1/2020)  $-   $12,607,978 
           
Pre-need merchandise and services  $-   $12,545,753 
At-need specialty merchandise   -    534,426 
Pre-need land sales   -    - 
Closing (12/31/2020)  $-   $13,080,179 
Revenues of the Cemetery and Mortuary Contracts

The following table disaggregates revenue for the Company’s cemetery and mortuary contracts.

 

   Years Ended December 31 
   2021   2020 
Major goods/service lines          
At-need  $16,220,541   $15,212,822 
Pre-need   7,776,772    5,094,613 
   $23,997,313   $20,307,435 
           
Timing of Revenue Recognition          
Goods transferred at a point in time  $16,793,439   $13,438,592 
Services transferred at a point in time   7,203,874    6,868,843 
   $23,997,313   $20,307,435 
Reconciliation of Revenues from Cemetery and mortuary contracts to Business Segment Information

The following table disaggregates contract costs that are included in deferred policy and pre-need contract acquisition costs on the consolidated balances sheets.

 

   2021   2020 
   Years Ended December 31 
   2021   2020 
Pre-need merchandise and services  $3,688,579   $3,601,638 
At-need specialty merchandise   29,688    5,302 
Pre-need land sales   -    - 
Deferred policy and pre-need contract acquisition costs  $3,718,267   $3,606,940