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Business Segment Information | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Business Segment Information | 7) Business Segment Information Description of Products and Services by Segment The Company has three reportable business segments: life insurance, cemetery and mortuary, and mortgage. The Company’s life insurance segment consists of life insurance premiums and operating expenses from the sale of insurance products sold by the Company’s independent agency force and net investment income derived from investing policyholder and segment surplus funds. The Company’s cemetery and mortuary segment consists of revenues and operating expenses from the sale of at-need cemetery and mortuary merchandise and services at its mortuaries and cemeteries, pre-need sales of cemetery spaces after collection of 10% or more of the purchase price and the net investment income from investing segment surplus funds. The Company’s mortgage segment consists of fee income and expenses from the originations of residential mortgage loans and interest earned and interest expenses from warehousing loans held for sale. Measurement of Segment Profit or Loss and Segment Assets The accounting policies of the reportable segments are the same as those described in the Significant Accounting Principles of the Form 10-K for the year ended December 31, 2022. Intersegment revenues are recorded at cost plus an agreed upon intercompany profit, and are eliminated upon consolidation. Factors Management Used to Identify the Enterprise’s Reportable Segments The Company’s reportable segments are business units that are managed separately due to the different products provided and the need to report separately to the various regulatory jurisdictions. The Company regularly reviews the quantitative thresholds and other criteria to determine when other business segments may need to be reported. SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements September 30, 2023 (Unaudited) 7) Business Segment Information (Continued) Schedule of Revenues and Expenses by Reportable Segment
|  | Life Insurance |  |  | Cemetery/ Mortuary |  |  | Mortgage |  |  | Intercompany Eliminations |  |  | Consolidated |
For the Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers |  | $ | 47,199,169 |  |  | $ | 7,416,423 |  |  | $ | 25,626,135 |  |  | $ | - |  |  | $ | 80,241,727 |
Intersegment revenues |  |  | 2,330,292 |  |  |  | 85,699 |  |  |  | 133,639 |  |  |  | (2,549,630 | ) |  |  | - |
Segment profit (loss) before income taxes |  |  | 7,175,181 |  |  |  | 1,469,592 |  |  |  | (3,486,083 | ) |  |  | - |  |  |  | 5,158,690 |
For the Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers |  | $ | 140,685,555 |  |  | $ | 23,427,327 |  |  | $ | 79,475,738 |  |  | $ | - |  |  | $ | 243,588,620 |
Intersegment revenues |  |  | 6,357,810 |  |  |  | 254,302 |  |  |  | 393,145 |  |  |  | (7,005,257 | ) |  |  | - |
Segment profit (loss) before income taxes |  |  | 20,017,102 |  |  |  | 6,082,343 |  |  |  | (11,206,534 | ) |  |  | - |  |  |  | 14,892,911 |
Identifiable Assets |  | $ | 1,299,027,212 |  |  | $ | 92,299,022 |  |  | $ | 107,800,781 |  |  | $ | (90,608,563 | ) |  | $ | 1,408,518,452 |
Goodwill |  |  | 2,765,570 |  |  |  | 2,488,213 |  |  |  | - |  |  |  | - |  |  |  | 5,253,783 |
Total Assets |  | $ | 1,301,792,782 |  |  | $ | 94,787,235 |  |  | $ | 107,800,781 |  |  | $ | (90,608,563 | ) |  | $ | 1,413,772,235 |
For the Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers |  | $ | 43,118,076 |  |  | $ | 6,691,998 |  |  | $ | 33,667,146 |  |  | $ | - |  |  | $ | 83,477,220 |
Intersegment revenues |  |  | 1,723,812 |  |  |  | 91,699 |  |  |  | 101,019 |  |  |  | (1,916,530 | ) |  |  | - |
Segment profit (loss) before income taxes |  |  | 4,233,619 |  |  |  | 901,084 |  |  |  | (8,437,047 | ) |  |  | - |  |  |  | (3,302,344 | )
For the Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers |  | $ | 125,786,154 |  |  | $ | 21,446,210 |  |  | $ | 134,237,417 |  |  | $ | - |  |  | $ | 281,469,781 |
Intersegment revenues |  |  | 5,495,578 |  |  |  | 359,439 |  |  |  | 253,554 |  |  |  | (6,108,571 | ) |  |  | - |
Segment profit (loss) before income taxes |  |  | 8,981,888 |  |  |  | 4,407,339 |  |  |  | (7,518,209 | ) |  |  | - |  |  |  | 5,871,018 |
Identifiable Assets |  | $ | 1,222,265,692 |  |  | $ | 80,402,663 |  |  | $ | 239,915,479 |  |  | $ | (87,763,750 | ) |  | $ | 1,454,820,084 |
Goodwill |  |  | 2,765,570 |  |  |  | 2,488,213 |  |  |  | - |  |  |  | - |  |  |  | 5,253,783 |
Total Assets |  | $ | 1,225,031,262 |  |  | $ | 82,890,876 |  |  | $ | 239,915,479 |  |  | $ | (87,763,750 | ) |  | $ | 1,460,073,867 |
SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements September 30, 2023 (Unaudited)

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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