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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Insurance premiums and other considerations $ 22,924,709 $ 19,645,218 $ 45,215,985 $ 38,672,220
Net investment income 12,962,745 10,540,835 26,363,244 20,582,503
Net mortuary and cemetery sales 4,700,778 4,000,730 9,158,869 7,679,358
Gains (losses) on investments and other assets 2,238,279 (1,025,893) (973,968) 780,768
Mortgage fee income 73,368,333 32,946,567 113,650,094 57,425,438
Other Revenues 2,466,898 2,337,725 4,856,467 4,798,730
Total revenues 118,661,742 68,445,182 198,270,691 129,939,017
Benefits and expenses:        
Death benefits 13,586,723 9,248,796 26,994,350 19,326,699
Surrenders and other policy benefits 838,191 763,978 1,908,666 1,629,909
Increase in future policy benefits 6,603,843 5,676,111 13,641,876 11,427,241
Amortization of deferred policy and pre-need acquisition costs and value of business acquired 3,026,666 3,073,478 6,541,723 6,201,752
Selling, general and administrative expenses:        
Commissions 27,239,088 13,853,889 43,793,831 23,528,981
Personnel 20,538,655 15,699,260 39,258,653 30,730,596
Advertising 1,229,841 1,171,903 2,235,158 2,205,078
Rent and rent related 1,662,853 1,724,179 3,277,594 3,628,467
Depreciation on property and equipment 518,070 422,926 1,034,283 872,606
Costs related to funding mortgage loans 2,378,815 1,559,289 4,335,097 2,914,214
Other 11,303,388 8,154,367 21,378,930 15,799,494
Interest expense 1,881,440 1,782,557 3,700,049 3,274,444
Cost of goods and services sold-mortuaries and cemeteries 660,413 690,606 1,502,491 1,343,534
Total benefits and expenses 91,467,986 63,821,339 169,602,701 122,883,015
Earnings before income taxes 27,193,756 4,623,843 28,667,990 7,056,002
Income tax expense (6,636,709) (1,143,789) (6,686,494) (1,645,630)
Net earnings $ 20,557,047 $ 3,480,054 $ 21,981,496 $ 5,410,372
Net earnings per Class A Equivalent common share $ 1.10 $ 0.19 $ 1.18 $ 0.29
Net earnings per Class A Equivalent common share-assuming dilution $ 1.07 $ 0.19 $ 1.15 $ 0.29
Weighted-average Class A equivalent common share outstanding 18,764,831 18,576,031 18,703,390 18,567,907
Weighted-average Class A equivalent common shares outstanding-assuming dilution 19,183,491 18,810,276 19,036,249 18,807,576