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Capital Stock | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Capital Stock | 12) Capital Stock The Company has one class of preferred stock of $1.00 par value, 5,000,000 shares authorized, of which none are issued. The preferred stock is non-voting. The Company has two classes of common stock with shares outstanding, Class A common shares and Class C common shares. Class C shares have 10 votes per share on all matters except for the election of one third of the directors who are elected solely by the Class A shares. Class C shares are convertible into Class A shares at any time on a one-to-one ratio. Stockholders of both Class A and Class C common stock have received 5% stock dividends in the years 1990 through 2019, a 7.5% stock dividend in the year 2020, and a 5% stock dividend in the years 2021 through 2023, as authorized by the Company’s Board of Directors. The Company has Class B common stock of $1.00 par value, 5,000,000 shares authorized, of which none are issued. Class B shares are non-voting stock except to any proposed amendment to the Articles of Incorporation which would affect Class B common stock. The following table summarizes the activity in shares of capital stock. Summary of Activities in Shares of Capital Stock
|  | Class A |  |  | Class C |
Outstanding shares at December 31, 2021 |  |  | 17,642,722 |  |  |  | 2,866,565 |
Exercise of stock options |  |  | 109,587 |  |  |  | - |
Vesting of restricted stock units |  |  | - |  |  |  | - |
Stock dividends |  |  | 889,554 |  |  |  | 139,462 |
Conversion of Class C to Class A |  |  | 116,168 |  |  |  | (116,168 | )
Outstanding shares at December 31, 2022 |  |  | 18,758,031 |  |  |  | 2,889,859 |
Common stock, shares, outstanding, beginning |  |  | 18,758,031 |  |  |  | 2,889,859 |
Exercise of stock options |  |  | 279,177 |  |  |  | - |
Vesting of restricted stock units |  |  | 1,215 |  |  |  | - |
Stock dividends |  |  | 949,980 |  |  |  | 141,594 |
Conversion of Class C to Class A |  |  | 59,599 |  |  |  | (59,599 | )
Outstanding shares at December 31, 2023 |  |  | 20,048,002 |  |  |  | 2,971,854 |
Common stock, shares, outstanding, ending |  |  | 20,048,002 |  |  |  | 2,971,854 |
SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Consolidated Financial Statements Years Ended December 31, 2023 and 2022 12) Capital Stock (Continued) Earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. In accordance with GAAP, the basic and diluted earnings per share amounts were calculated as follows: Schedule of Earnings Per Share, Basic and Diluted
|  | 2023 |  |  | 2022 |
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Numerator: |  |  |  |  |  |  |  |
Net earnings |  | $ | 14,495,058 |  |  | $ | 25,690,302 |
Denominator: |  |  |  |  |  |  |  |
Denominator for basic earnings per share-weighted-average shares |  |  | 22,083,772 |  |  |  | 22,187,410 |
Effect of dilutive securities |  |  |  |  |  |  |  |
Employee stock options |  |  | 594,196 |  |  |  | 848,323 |
Unvested restricted stock units |  |  | - |  |  |  | 395 |
Dilutive potential common shares |  |  | 594,196 |  |  |  | 848,718 |
Denominator for diluted earnings per share-adjusted weighted-average shares and assumed conversions |  |  | 22,677,968 |  |  |  | 23,036,128 |
Basic earnings per share |  | $ | 0.66 |  |  | $ | 1.16 |
Diluted earnings per share |  | $ | 0.64 |  |  | $ | 1.12 |
For 2023 and 2022, there were nil and 339,150 of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net earnings per common share as their effect would be anti-dilutive. Basic and diluted earnings per share amounts are the same for each class of common stock. SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Consolidated Financial Statements Years Ended December 31, 2023 and 2022

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