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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Mortgage fee income $ 24,936,019 $ 28,607,888 $ 77,003,778 $ 118,983,231
Insurance premiums and other considerations 28,906,803 26,237,417 85,687,394 78,491,364
Net investment income 19,248,463 18,603,070 57,195,320 49,768,664
Net mortuary and cemetery sales 7,234,031 6,470,363 20,874,174 20,926,587
Losses on investments and other assets (932,414) (2,178,952) (4,676) (2,921,372)
Other 848,825 5,737,434 2,832,630 16,221,307
Total revenues 80,241,727 83,477,220 243,588,620 281,469,781
Benefits and expenses:        
Death benefits 14,678,251 13,996,753 46,811,922 45,720,503
Surrenders and other policy benefits 1,467,066 1,337,507 3,550,416 3,814,442
Increase in future policy benefits 9,476,678 7,389,732 26,031,421 20,761,276
Amortization of deferred policy and pre-need acquisition costs and value of business acquired 4,480,457 5,061,713 13,615,359 13,511,235
Selling, general and administrative expenses:        
Commissions 10,467,796 15,004,275 30,877,232 53,303,814
Personnel 20,234,106 24,392,703 62,705,033 76,772,417
Advertising 994,433 1,372,636 2,863,597 4,680,169
Rent and rent related 1,677,701 1,701,164 5,285,492 5,062,696
Depreciation on property and equipment 590,168 636,246 1,765,797 1,880,095
Costs related to funding mortgage loans 1,563,172 1,371,315 5,246,881 6,255,415
Other 7,124,347 11,178,276 22,308,291 34,444,040
Interest expense 1,151,534 2,136,763 4,019,669 5,764,327
Cost of goods and services sold-mortuaries and cemeteries 1,177,328 1,200,481 3,614,599 3,628,334
Total benefits and expenses 75,083,037 86,779,564 228,695,709 275,598,763
Earnings (loss) before income taxes 5,158,690 (3,302,344) 14,892,911 5,871,018
Income tax benefit (expense) (1,117,397) 949,159 (3,258,740) (1,421,036)
Net earnings (loss) $ 4,041,293 $ (2,353,185) $ 11,634,171 $ 4,449,982
Net earnings (loss) per Class A Equivalent common share [1] $ 0.18 $ 0.11 $ 0.53 $ 0.20
Net earnings (loss) per Class A Equivalent common share-assuming dilution [1] $ 0.18 $ 0.10 $ 0.51 $ 0.19
Weighted-average Class A equivalent common shares outstanding [1] 22,063,495 21,976,292 22,066,243 22,213,846
Weighted-average Class A equivalent common shares outstanding-assuming dilution [1] 22,831,726 22,695,996 22,700,342 23,036,213
[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.