XML 69 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Income Statement - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Insurance premiums and other considerations $ 13,914,894 $ 13,334,986 $ 27,768,409 $ 26,464,433
Net investment income 8,590,673 6,707,287 16,413,517 12,349,787
Net mortuary and cemetery sales 3,017,853 3,446,882 5,890,088 6,277,944
Realized gains on investments and other assets 500,776 339,852 920,840 538,845
Other than temporary impairments on investments (55,311) (30,000) (111,207) (60,000)
Mortgage fee income 48,730,028 34,773,299 86,551,828 57,310,837
Other income 1,341,702 839,424 2,656,772 1,583,160
Total revenues 76,040,615 59,411,730 140,090,247 104,465,006
Benefits and expenses:        
Death benefits 8,116,411 7,082,626 16,044,283 13,758,119
Surrenders and other policy benefits 519,663 627,151 1,173,397 1,142,763
Increase in future policy benefits 4,040,366 4,847,082 8,220,178 9,214,525
Amortization of deferred policy and pre-need acquisition costs and value of business acquired 1,177,854 1,493,293 2,345,353 2,896,935
Selling, general and administrative expenses:        
Commissions 23,207,511 16,185,164 41,773,558 26,746,045
Personnel 15,251,633 11,859,398 29,564,949 23,356,566
Advertising 1,508,426 1,502,045 2,924,716 2,274,058
Rent and rent related 1,929,790 1,456,038 3,814,866 2,799,481
Depreciation on property and equipment 547,387 534,346 1,110,124 1,031,548
Provision for loan losses and loss reserve 2,252,471 571,332 2,919,210 943,425
Costs related to funding mortgage loans 2,412,354 1,911,634 4,595,365 3,209,319
Other expenses 6,982,105 5,857,231 13,067,608 10,453,682
Interest expense 1,374,269 786,248 2,359,615 1,284,112
Cost of goods and services sold-mortuaries and cemeteries 488,423 511,045 946,689 1,001,344
Total benefits and expenses 69,808,663 55,224,633 130,859,911 100,111,922
Earnings before income taxes 6,231,952 4,187,097 9,230,336 4,353,084
Income tax expense (2,379,673) (1,563,034) (3,514,354) (1,590,173)
Net earnings $ 3,852,279 $ 2,624,063 $ 5,715,982 $ 2,762,911
Net earnings per Class A Equivalent common share (1) $ 0.30 $ 0.21 $ 0.44 $ 0.22
Net earnings per Class A Equivalent common share-assuming dilution (1) $ 0.28 $ 0.20 $ 0.42 $ 0.21
Weighted-average Class A equivalent common share outstanding (1) 13,037,095 12,449,786 12,986,238 12,459,537
Weighted-average Class A equivalent common shares outstanding-assuming dilution (1) 13,595,918 12,897,204 13,532,641 12,914,781