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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Mortgage fee income $ 29,619,516 $ 26,078,753 $ 51,451,186 $ 52,067,759
Insurance premiums and other considerations 29,960,558 28,813,299 59,812,651 56,780,591
Net investment income 18,044,808 20,171,974 37,991,376 37,946,857
Net mortuary and cemetery sales 7,768,947 7,168,714 14,717,438 13,640,143
Gains (losses) on investments and other assets (377,239) 816,584 1,292,187 927,738
Other 774,746 796,835 1,714,696 1,983,805
Total revenues 85,791,336 83,846,159 166,979,534 163,346,893
Benefits and expenses:        
Death benefits 14,070,165 15,455,305 29,783,918 32,133,671
Surrenders and other policy benefits 1,042,940 950,657 2,258,733 2,083,350
Increase in future policy benefits 9,212,937 8,499,804 18,558,824 16,554,743
Amortization of deferred policy and pre-need acquisition costs and value of business acquired 4,301,389 4,251,321 9,045,302 9,134,902
Selling, general and administrative expenses:        
Commissions 13,452,841 10,736,126 21,434,058 20,409,436
Personnel 20,802,576 20,508,415 40,657,711 42,470,927
Advertising 786,217 965,753 1,473,872 1,869,164
Rent and rent related 1,297,239 1,831,011 2,698,716 3,607,791
Depreciation on property and equipment 592,899 587,213 1,180,348 1,175,629
Costs related to funding mortgage loans 1,533,881 1,841,367 2,982,976 3,683,709
Other 6,999,384 7,403,409 13,285,294 15,183,944
Interest expense 1,073,816 1,414,802 2,101,290 2,868,135
Cost of goods and services sold-mortuaries and cemeteries 1,235,459 1,251,643 2,509,588 2,437,271
Total benefits and expenses 76,401,743 75,696,826 147,970,630 153,612,672
Earnings before income taxes 9,389,593 8,149,333 19,008,904 9,734,221
Income tax expense (2,118,044) (1,796,627) (4,262,833) (2,141,343)
Net earnings $ 7,271,549 $ 6,352,706 $ 14,746,071 $ 7,592,878
Net earnings per Class A Equivalent common share [1] $ 0.31 $ 0.27 $ 0.63 $ 0.33
Net earnings per Class A Equivalent common share-assuming dilution [1] $ 0.30 $ 0.27 $ 0.62 $ 0.32
Weighted-average Class A equivalent common shares outstanding [1] 23,297,455 23,110,818 23,313,768 23,172,477
Weighted-average Class A equivalent common shares outstanding-assuming dilution [1] 23,873,958 23,702,284 23,976,904 23,750,919
[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.