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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Mortgage fee income $ 26,078,753 $ 42,030,898 $ 52,067,759 $ 90,375,343
Insurance premiums and other considerations 28,813,299 25,911,995 56,780,591 52,253,947
Net investment income 20,171,974 15,971,288 37,946,857 31,165,594
Net mortuary and cemetery sales 7,168,714 7,250,503 13,640,143 14,456,224
Gains (losses) on investments and other assets 816,584 (914,395) 927,738 (742,420)
Other 796,835 5,316,365 1,983,805 10,483,873
Total revenues 83,846,159 95,566,654 163,346,893 197,992,561
Benefits and expenses:        
Death benefits 15,455,305 14,839,044 32,133,671 31,723,750
Surrenders and other policy benefits 950,657 1,153,767 2,083,350 2,476,935
Increase in future policy benefits 8,499,804 6,600,443 16,554,743 13,371,544
Amortization of deferred policy and pre-need acquisition costs and value of business acquired 4,251,321 4,053,109 9,134,902 8,449,522
Selling, general and administrative expenses:        
Commissions 10,736,126 18,397,337 20,409,436 38,299,539
Personnel 20,508,415 25,504,950 42,470,927 52,379,714
Advertising 965,753 1,595,738 1,869,164 3,307,533
Rent and rent related 1,831,011 1,702,262 3,607,791 3,361,532
Depreciation on property and equipment 587,213 628,305 1,175,629 1,243,849
Costs related to funding mortgage loans 1,841,367 2,044,637 3,683,709 4,884,100
Other 7,403,409 11,174,128 15,183,944 23,265,764
Interest expense 1,414,802 1,900,249 2,868,135 3,627,564
Cost of goods and services sold-mortuaries and cemeteries 1,251,643 1,242,839 2,437,271 2,427,853
Total benefits and expenses 75,696,826 90,836,808 153,612,672 188,819,199
Earnings before income taxes 8,149,333 4,729,846 9,734,221 9,173,362
Income tax expense (1,796,627) (1,155,397) (2,141,343) (2,370,195)
Net earnings $ 6,352,706 $ 3,574,449 $ 7,592,878 $ 6,803,167
Net earnings per Class A Equivalent common share () [1] $ 0.29 $ 0.16 $ 0.34 $ 0.30
Net earnings per Class A Equivalent common share-assuming dilution () [1] $ 0.28 $ 0.15 $ 0.34 $ 0.29
Weighted-average Class A equivalent common shares outstanding () [1] 22,005,332 22,233,852 22,066,991 22,331,911
Weighted-average Class A equivalent common shares outstanding-assuming dilution () [1] 22,568,633 23,108,651 22,617,888 23,225,600
[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.