XML 33 R21.htm IDEA: XBRL DOCUMENT v3.25.3
Receivables
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Receivables

14) Receivables

 

Receivables consist of the following:

 

Schedule of Receivable 

  

As of

September 30,

2025

  

As of

December 31,

2024

 
Contracts with customers  $6,797,943   $7,095,589 
Receivables from sales agents   4,180,222    4,028,881 
Other   5,662,632    6,412,804 
Total receivables   16,640,797    17,537,274 
Allowance for credit losses   (1,542,731)   (1,678,531)
Net receivables  $15,098,066   $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:

 

Schedule of Allowance Credit Losses 

  

Three Months

Ended

 
Beginning balance - June 30, 2025  $1,491,043 
Change in provision for credit losses (1)   84,603 
Charge-offs   (32,915)
Ending balance - September 30, 2025  $1,542,731 
      
Beginning balance - June 30, 2024  $1,770,911 
Change in provision for credit losses (1)   (167,300)
Charge-offs   (37,461)
Ending balance - September 30, 2024  $1,566,150 

 

 

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

 

  

Nine Months

Ended

 
Beginning balance - December 31, 2024  $1,678,531 
Change in provision for credit losses (1)   153,034 
Charge-offs   (288,834)
Ending balance - September 30, 2025  $1,542,731 
      
Beginning balance - December 31, 2023  $1,897,887 
Change in provision for credit losses (1)   (254,306)
Charge-offs   (77,431)
Ending balance - September 30, 2024  $1,566,150 

 

 

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

 

 

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

September 30, 2025 (Unaudited)