XML 16 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Earnings - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenues:    
Mortgage fee income $ 173,499,681 $ 263,418,230
Insurance premiums and other considerations 105,001,640 100,254,573
Net investment income 66,197,592 58,264,683
Net mortuary and cemetery sales 26,993,855 23,997,313
Gains (losses) on investments and other assets (857,460) 6,265,134
Other than temporary impairments on investments (39,502)
Other 18,817,020 18,535,111
Total revenues 389,652,328 470,695,542
Benefits and expenses:    
Death benefits 59,377,962 63,247,616
Surrenders and other policy benefits 4,688,470 3,970,839
Increase in future policy benefits 28,858,969 26,263,312
Amortization of deferred policy and pre-need acquisition costs and value of business acquired 17,950,202 16,142,970
Selling, general and administrative expenses:    
Commissions 63,321,092 118,286,469
Personnel 100,111,523 100,740,161
Advertising 5,697,998 6,626,418
Rent and rent related 6,883,013 7,242,287
Depreciation on property and equipment 2,496,906 1,935,613
Costs related to funding mortgage loans 7,540,041 10,541,570
Other 45,797,753 53,065,982
Interest expense 7,830,443 7,127,516
Cost of goods and services sold – cemeteries and mortuaries 4,721,094 3,704,014
Total benefits and expenses 355,275,466 418,894,767
Earnings before income taxes 34,376,862 51,800,775
Income tax expense (8,686,560) (12,281,785)
Net earnings $ 25,690,302 $ 39,518,990
Net earnings per Class A equivalent common share [1] $ 1.22 $ 1.87
Net earnings per Class A equivalent common share - assuming dilution [1] $ 1.17 $ 1.80
Weighted average Class A equivalent common shares outstanding [1] 21,137,941 21,146,713
Weighted average Class A equivalent common shares outstanding-assuming dilution [1] 21,946,244 21,959,629
[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.