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Receivables
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Receivables

 

14) Receivables

 

Receivables consist of the following:

 

   As of
June 30, 2025		   As of
December 31, 2024		 
Contracts with customers  $7,043,636   $7,095,589 
Receivables from sales agents   4,094,413    4,028,881 
Other   5,821,672    6,412,804 
Total receivables   16,959,721    17,537,274 
Allowance for credit losses   (1,491,043)   (1,678,531)
Net receivables  $15,468,678   $15,858,743 

 

The Company records an allowance for credit losses for its receivables in accordance with GAAP.

 

The following table presents a roll forward of the allowance for credit losses as of the dates indicated:

 

   Three Months Ended 
Beginning balance - March 31, 2025  $1,632,099 
Change in provision for credit losses (1)   (104,209)
Charge-offs   (36,847)
Ending balance - June 30, 2025  $1,491,043 
      
Beginning balance - March 31, 2024  $1,755,553 
Change in provision for credit losses (1)   31,494 
Charge-offs   (16,136)
Ending balance - June 30, 2024  $1,770,911 

 

 

(1) Included in other expenses on the condensed consolidated statements of earnings

 

   Six Months Ended  
Beginning balance - December 31, 2024  $1,678,531 
Change in provision for credit losses (1)   (88,067)
Charge-offs   (99,421)
Ending balance - June 30, 2025  $1,491,043 
      
Beginning balance - December 31, 2023  $1,897,887 
Change in provision for credit losses (1)   (87,003)
Charge-offs   (39,973)
Ending balance - June 30, 2024  $1,770,911 

 

 

(1) Included in other expenses on the condensed consolidated statements of earnings

 

 

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

June 30, 2025 (Unaudited)