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Accumulated Other Comprehensive Income (loss)
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Income (loss)

16) Accumulated Other Comprehensive Income (loss)

 

The following summarizes the changes in accumulated other comprehensive income (loss):

 

   2023   2022 
   Three Months Ended March 31 
   2023   2022 
         
Unrealized gains (losses) on fixed maturity securities available for sale  $5,436,929   $(15,372,096)
Amounts reclassified into net earnings   (218,900)   45,193 
Net unrealized gains (losses) before taxes   5,218,029    (15,326,903)
Tax (expense) benefit   (1,095,787)   3,218,648 
Net   4,122,242    (12,108,255)
Unrealized gains (losses) on restricted assets (1)   4,133    (71,946)
Tax (expense) benefit   (1,029)   17,922 
Net   3,104    (54,024)
Unrealized gains (losses) on cemetery perpetual care trust investments (1)   2,926    (37,357)
Tax (expense) benefit   (714)   9,306 
Net   2,212    (28,051)
Other comprehensive income (loss) changes  $4,127,558   $(12,190,330)

 

 

(1) Fixed maturity securities available for sale

 

 

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

March 31, 2023 (Unaudited)

 

16) Accumulated Other Comprehensive Income (loss) (Continued)

 

The following is the accumulated balances of other comprehensive income (loss) as of March 31, 2023:

 

   Beginning Balance December 31, 2022   Change for the period   Ending Balance March 31,
2023		 
Unrealized gains (losses) on fixed maturity securities available for sale  $(13,050,767)  $4,122,242   $(8,928,525)
Unrealized gains (losses) on restricted assets (1)   (13,148)   3,104    (10,044)
Unrealized gains (losses) on cemetery perpetual care trust investments (1)   (6,362)   2,212    (4,150)
Other comprehensive income (loss)  $(13,070,277)  $4,127,558   $(8,942,719)

 

 

(1) Fixed maturity securities available for sale

 

The following is the accumulated balances of other comprehensive income (loss) as of December 31, 2022:

 

   Beginning Balance December 31, 2021   Change for the period   Ending Balance December 31,
2022		 
Unrealized gains (losses) on fixed maturity securities available for sale  $18,021,265   $(31,072,032)  $(13,050,767)
Unrealized gains (losses) on restricted assets (1)   40,192    (53,340)   (13,148)
Unrealized gains (losses) on cemetery perpetual care trust investments (1)   8,991    (15,353)   (6,362)
Other comprehensive income (loss)  $18,070,448   $(31,140,725)  $(13,070,277)

 

 

(1) Fixed maturity securities available for sale