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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Insurance premiums and other considerations $ 23,766,576 $ 19,832,492 $ 68,982,561 $ 58,504,712
Net investment income 14,709,142 10,478,566 41,072,386 31,061,069
Net mortuary and cemetery sales 5,371,715 3,526,416 14,530,584 11,205,774
Gains (losses) on investments and other assets 800,507 (519,673) (173,461) 261,095
Mortgage fee income 98,559,624 39,735,752 212,209,718 97,161,190
Other Revenues 2,997,001 2,326,106 7,853,468 7,124,836
Total revenues 146,204,565 75,379,659 344,475,256 205,318,676
Benefits and expenses:        
Death benefits 16,026,897 9,937,711 43,021,247 29,264,410
Surrenders and other policy benefits 1,056,318 636,366 2,964,984 2,266,275
Increase in future policy benefits 4,892,972 5,980,721 18,534,848 17,407,962
Amortization of deferred policy and pre-need acquisition costs and value of business acquired 4,239,935 3,477,160 10,781,658 9,678,912
Selling, general and administrative expenses:        
Commissions 37,761,992 16,714,061 81,555,823 40,243,042
Personnel 21,700,446 16,287,957 60,959,099 47,018,553
Advertising 1,607,138 1,361,745 3,842,296 3,566,823
Rent and rent related 1,797,161 1,749,402 5,074,755 5,377,869
Depreciation on property and equipment 516,243 421,970 1,550,526 1,294,576
Costs related to funding mortgage loans 3,057,276 1,917,390 7,392,373 4,831,604
Other 11,701,986 9,355,218 33,080,916 25,154,712
Interest expense 2,363,169 2,078,733 6,063,218 5,353,177
Cost of goods and services sold-mortuaries and cemeteries 899,101 701,403 2,401,592 2,044,937
Total benefits and expenses 107,620,634 70,619,837 277,223,335 193,502,852
Earnings before income taxes 38,583,931 4,759,822 67,251,921 11,815,824
Income tax expense (9,279,162) (1,142,408) (15,965,656) (2,788,038)
Net earnings $ 29,304,769 $ 3,617,414 $ 51,286,265 $ 9,027,786
Net earnings per Class A Equivalent common share $ 1.55 $ 0.19 $ 2.73 $ 0.49
Net earnings per Class A Equivalent common share-assuming dilution $ 1.51 $ 0.19 $ 2.68 $ 0.48
Weighted-average Class A equivalent common share outstanding 18,873,886 18,551,116 18,760,884 18,560,874
Weighted-average Class A equivalent common shares outstanding-assuming dilution [1] 19,433,619 18,755,091 19,164,890 18,769,435
[1] Net earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends.