XML 42 R30.htm IDEA: XBRL DOCUMENT
v3.25.1

Business Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Revenues and Expenses by Reportable Segment | Schedule of Revenues and Expenses by Reportable Segment
|  | Insurance |  |  | Mortuary |  |  | Mortgage |  |  | Total |
|  | For the Three Months Ended March 31, 2025 |
|  | Life |  |  | Cemetery/ |  |  |  |  |  |  |
|  | Insurance |  |  | Mortuary |  |  | Mortgage |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From external sources: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 29,779,525 |  |  | $ | 7,300,221 |  |  | $ | 24,809,241 |  |  | $ | 61,888,987 |
Net investment income |  |  | 18,630,945 |  |  |  | 421,253 |  |  |  | 150,426 |  |  |  | 19,202,624 |
Gains on investments and other assets |  |  | 290,534 |  |  |  | 209,970 |  |  |  | 85,517 |  |  |  | 586,021 |
Other revenues |  |  | 585,598 |  |  |  | 187,850 |  |  |  | 288,643 |  |  |  | 1,062,091 |
Intersegment revenues |  |  | 1,319,923 |  |  |  | 83,836 |  |  |  | 121,868 |  |  |  | 1,525,627 |
Total segment revenues |  |  | 50,606,525 |  |  |  | 8,203,130 |  |  |  | 25,455,695 |  |  |  | 84,265,350 |
Elimination of intersegment revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,525,627 | )
Total consolidated revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 82,739,723 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Death benefits |  |  | 16,045,465 |  |  |  | - |  |  |  | - |  |  |  |  |
Surrenders and other policy benefits |  |  | 1,201,555 |  |  |  | - |  |  |  | - |  |  |  |  |
Increase in future policy benefits |  |  | 8,988,057 |  |  |  | - |  |  |  | - |  |  |  |  |
Amortization of deferred policy and pre-need acquisition costs and value of business acquired |  |  | 4,522,570 |  |  |  | 173,965 |  |  |  | - |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  |  | 862,343 |  |  |  | 208,420 |  |  |  | 9,367,618 |  |  |  |  |
Personnel |  |  | 8,526,188 |  |  |  | 2,538,026 |  |  |  | 11,118,194 |  |  |  |  |
Advertising |  |  | 99,976 |  |  |  | 151,609 |  |  |  | 572,360 |  |  |  |  |
Rent and rent related |  |  | 99,790 |  |  |  | 38,038 |  |  |  | 850,783 |  |  |  |  |
Depreciation on property and equipment |  |  | 242,812 |  |  |  | 212,361 |  |  |  | 159,962 |  |  |  |  |
Cost related to funding mortgage loans |  |  | - |  |  |  | - |  |  |  | 1,415,252 |  |  |  |  |
Data processing and IT related (1) |  |  | 235,788 |  |  |  | 70,526 |  |  |  | 878,110 |  |  |  |  |
Premium taxes on insurance premiums and other considerations (1) |  |  | 718,071 |  |  |  | - |  |  |  | - |  |  |  |  |
Other segment items (1)(2) |  |  | 2,624,538 |  |  |  | 1,231,210 |  |  |  | 1,642,444 |  |  |  |  |
Intersegment expenses (3) |  |  | 205,558 |  |  |  | 87,441 |  |  |  | 1,232,628 |  |  |  |  |
Interest expense |  |  | 906,447 |  |  |  | 163 |  |  |  | 212,918 |  |  |  |  |
Costs of goods and services sold-mortuaries and cemeteries |  |  | - |  |  |  | 1,253,270 |  |  |  | - |  |  |  |  |
Income tax expense (benefit) |  |  | 1,181,211 |  |  |  | 534,844 |  |  |  | (483,453 | ) |  |  |  |
Segment net earnings (loss) |  |  | 4,146,156 |  |  |  | 1,703,257 |  |  |  | (1,511,121 | ) |  |  | 4,338,292 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 4,338,292 |
Segment assets |  | $ | 1,406,921,748 |  |  | $ | 108,399,058 |  |  | $ | 100,755,930 |  |  | $ | 1,616,076,736 |
Elimination of intersegment assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (91,826,406 | )
Total consolidated assets |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,524,250,330 |
Expenditures for long-lived assets |  | $ | 16,717,670 |  |  | $ | 257,933 |  |  | $ | 109,134 |  |  | $ | 17,084,737 |
(1) | Included in other expenses on the condensed consolidated statements of earnings. Data processing and IT related expenses includes various software subscriptions, maintenance, consulting, support and storage fees.
(2) | For each reportable segment, other segment items includes:
Life Insurance - bad debt, insurance expenses, professional service expenses, state insurance department fees, amortization of intangible assets, and certain overhead expenses. Cemetery/Mortuary - bad debt, insurance expenses, professional service expenses, maintenance and utility expenses, property taxes, amortization of intangible assets, and certain overhead expenses. Mortgage - bad debt, insurance expenses, professional service expenses, business license and registration fees, dues and subscriptions, amortization expense of mortgage servicing rights, and certain overhead expenses.
(3) | For each reportable segment, intersegment expenses includes:
Life Insurance - mortgage servicing fees and interest expense. Cemetery/Mortuary - rent expense, data processing and IT related expenses, and interest expense. Mortgage - rent expense and interest expense. SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements March 31, 2025 (Unaudited) 7) Business Segment Information (Continued)
|  | Insurance |  |  | Mortuary |  |  | Mortgage |  |  | Total |
|  | For the Three Months Ended March 31, 2024 |
|  | Life |  |  | Cemetery/ |  |  |  |  |  |  |
|  | Insurance |  |  | Mortuary |  |  | Mortgage |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From external sources: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 29,852,093 |  |  | $ | 6,948,491 |  |  | $ | 21,831,670 |  |  | $ | 58,632,254 |
Net investment income |  |  | 18,612,363 |  |  |  | 1,084,192 |  |  |  | 250,013 |  |  |  | 19,946,568 |
Gains (losses) on investments and other assets |  |  | 1,088,493 |  |  |  | 582,162 |  |  |  | (1,229 | ) |  |  | 1,669,426 |
Other revenues |  |  | 417,686 |  |  |  | 172,733 |  |  |  | 349,531 |  |  |  | 939,950 |
Intersegment revenues |  |  | 1,379,575 |  |  |  | 84,768 |  |  |  | 146,606 |  |  |  | 1,610,949 |
Total segment revenues |  |  | 51,350,210 |  |  |  | 8,872,346 |  |  |  | 22,576,591 |  |  |  | 82,799,147 |
Elimination of intersegment revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,610,949 | )
Total consolidated revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 81,188,198 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Death benefits |  |  | 15,713,753 |  |  |  | - |  |  |  | - |  |  |  |  |
Surrenders and other policy benefits |  |  | 1,215,793 |  |  |  | - |  |  |  | - |  |  |  |  |
Increase in future policy benefits |  |  | 9,345,887 |  |  |  | - |  |  |  | - |  |  |  |  |
Amortization of deferred policy and pre-need acquisition costs and value of business acquired |  |  | 4,509,432 |  |  |  | 234,481 |  |  |  | - |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  |  | 406,498 |  |  |  | 231,785 |  |  |  | 7,342,934 |  |  |  |  |
Personnel |  |  | 7,231,308 |  |  |  | 2,309,726 |  |  |  | 10,314,101 |  |  |  |  |
Advertising |  |  | 107,496 |  |  |  | 127,677 |  |  |  | 452,482 |  |  |  |  |
Rent and rent related |  |  | 106,560 |  |  |  | 40,281 |  |  |  | 1,254,636 |  |  |  |  |
Depreciation on property and equipment |  |  | 224,077 |  |  |  | 206,605 |  |  |  | 156,767 |  |  |  |  |
Cost related to funding mortgage loans |  |  | - |  |  |  | - |  |  |  | 1,449,095 |  |  |  |  |
Data processing and IT related (1) |  |  | 206,299 |  |  |  | 66,800 |  |  |  | 952,222 |  |  |  |  |
Premium taxes on insurance premiums and other considerations (1) |  |  | 760,959 |  |  |  | - |  |  |  | - |  |  |  |  |
Other segment items (1)(2) |  |  | 1,830,106 |  |  |  | 1,233,177 |  |  |  | 1,236,347 |  |  |  |  |
Intersegment expenses (3) |  |  | 231,374 |  |  |  | 94,024 |  |  |  | 1,285,551 |  |  |  |  |
Interest expense |  |  | 931,159 |  |  |  | 240 |  |  |  | 96,075 |  |  |  |  |
Costs of goods and services sold-mortuaries and cemeteries |  |  | - |  |  |  | 1,274,129 |  |  |  | - |  |  |  |  |
Income tax expense (benefit) |  |  | 1,817,069 |  |  |  | 786,854 |  |  |  | (459,134 | ) |  |  |  |
Segment net earnings (loss) |  |  | 6,712,440 |  |  |  | 2,266,567 |  |  |  | (1,504,485 | ) |  |  | 7,474,522 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7,474,522 |
Segment assets |  | $ | 1,341,500,414 |  |  | $ | 99,346,510 |  |  | $ | 94,563,032 |  |  | $ | 1,535,409,956 |
Elimination of intersegment assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (94,161,443 | )
Total consolidated assets |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,441,248,513 |
Expenditures for long-lived assets |  | $ | 17,835,137 |  |  | $ | 140,367 |  |  | $ | 21,406 |  |  | $ | 17,996,910 |
(1) | Included in other expenses on the condensed consolidated statements of earnings. Data processing and IT related expenses includes various software subscriptions, maintenance, consulting, support and storage fees.
(2) | For each reportable segment, other segment items includes:
Life Insurance - bad debt, insurance expenses, professional service expenses, state insurance department fees, amortization of intangible assets, and certain overhead expenses. Cemetery/Mortuary - bad debt, insurance expenses, professional service expenses, maintenance and utility expenses, property taxes, amortization of intangible assets, and certain overhead expenses. Mortgage - bad debt, insurance expenses, professional service expenses, business license and registration fees, dues and subscriptions, amortization expense of mortgage servicing rights, and certain overhead expenses.
(3) | For each reportable segment, intersegment expenses includes:
Life Insurance - mortgage servicing fees and interest expense. Cemetery/Mortuary - rent expense, data processing and IT related expenses, and interest expense. Mortgage - rent expense and interest expense.

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration