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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Mortgage fee income $ 42,030,898 $ 65,157,813 $ 90,375,343 $ 138,156,425
Insurance premiums and other considerations 25,911,995 24,959,028 52,253,947 48,309,238
Net investment income 15,971,288 14,177,318 31,165,594 28,471,205
Net mortuary and cemetery sales 7,250,503 6,318,398 14,456,224 12,260,524
Gains (losses) on investments and other assets (914,395) 1,477,204 (742,420) 3,437,317
Other 5,316,365 4,660,554 10,483,873 8,774,212
Total revenues 95,566,654 116,750,315 197,992,561 239,408,921
Benefits and expenses:        
Death benefits 14,839,044 14,844,067 31,723,750 33,156,073
Surrenders and other policy benefits 1,153,767 670,957 2,476,935 1,748,601
Increase in future policy benefits 6,600,443 7,400,716 13,371,544 11,655,374
Amortization of deferred policy and pre-need acquisition costs and value of business acquired 4,053,109 3,654,061 8,449,522 7,230,926
Selling, general and administrative expenses:        
Commissions 18,397,337 29,893,565 38,299,539 62,623,245
Personnel 25,504,950 24,328,690 52,379,714 48,700,195
Advertising 1,595,738 1,597,067 3,307,533 3,398,065
Rent and rent related 1,702,262 1,874,348 3,361,532 3,740,246
Depreciation on property and equipment 628,305 473,478 1,243,849 975,123
Costs related to funding mortgage loans 2,044,637 2,739,500 4,884,100 5,676,725
Other 11,174,128 12,029,714 23,265,764 23,979,578
Interest expense 1,900,249 1,694,012 3,627,564 3,519,611
Cost of goods and services sold-mortuaries and cemeteries 1,242,839 872,788 2,427,853 1,972,752
Total benefits and expenses 90,836,808 102,072,963 188,819,199 208,376,514
Earnings before income taxes 4,729,846 14,677,352 9,173,362 31,032,407
Income tax expense (1,155,397) (3,419,873) (2,370,195) (7,646,213)
Net earnings $ 3,574,449 $ 11,257,479 $ 6,803,167 $ 23,386,194
Net earnings per Class A Equivalent common share [1] $ 0.17 $ 0.53 $ 0.32 $ 1.11
Net earnings per Class A Equivalent common share- assuming dilution [1] $ 0.16 $ 0.51 $ 0.31 $ 1.07
Weighted-average Class A equivalent common shares outstanding [1] 21,184,688 21,098,789 21,282,747 21,085,669
Weighted-average Class A equivalent common shares outstanding-assuming dilution [1] 22,017,830 21,922,847 22,133,879 21,953,019
[1] Net earnings per share amounts have been adjusted retroactively for the effect of annual stock dividends. The weighted-average shares outstanding includes the weighted-average Class A common shares and the weighted-average Class C common shares determined on an equivalent Class A common stock basis. Net earnings per common share represent net earnings per equivalent Class A common share.