| Equity |
14)
Equity
Capital
Stock
The
following table summarizes the activity in shares of capital stock.
Summary of Activities in Shares of Capital Stock
| | |
Class A | | |
Class C | |
| Outstanding shares at December 31, 2025 | |
| 22,428,625 | | |
| 3,587,237 | |
| | |
| | | |
| | |
| Exercise of stock options | |
| 1,051 | | |
| - | |
| Vesting of restricted stock units | |
| 3,087 | | |
| - | |
| Conversion of Class C to Class A | |
| - | | |
| - | |
| | |
| | | |
| | |
| Outstanding shares at March 31, 2026 | |
| 22,432,763 | | |
| 3,587,237 | |
| | |
| | | |
| | |
| Outstanding shares at December 31, 2024 (1) | |
| 22,321,559 | | |
| 3,492,674 | |
| Outstanding shares, beginning | |
| 22,321,559 | | |
| 3,492,674 | |
| | |
| | | |
| | |
| Exercise of stock options | |
| 66,273 | | |
| 95,337 | |
| Vesting of restricted stock units | |
| 460 | | |
| - | |
| | |
| | | |
| | |
| Outstanding shares at March 31, 2025 | |
| 22,388,292 | | |
| 3,588,011 | |
| Outstanding shares, ending | |
| 22,388,292 | | |
| 3,588,011 | |
| (1) | Adjusted retroactively
for the effect of annual stock dividends |
Accumulated
Other Comprehensive Income (Loss)
Refer
to Note 1 regarding the adoption of ASU 2018-12.
The
following table summarizes the changes in accumulated other comprehensive income (loss):
Schedule
of Changes in Accumulated Other Comprehensive Income (Loss)
| | |
| | | |
| | |
| | |
Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Unrealized gains (losses) on fixed maturity securities available for sale | |
$ | (4,167,685 | ) | |
$ | 3,988,782 | |
| Amounts reclassified into net earnings | |
| (148,626 | ) | |
| (127,525 | ) |
| Net unrealized gains (losses) before taxes | |
| (4,316,311 | ) | |
| 3,861,257 | |
| Tax (expense) benefit | |
| 908,982 | | |
| (811,680 | ) |
| Net | |
| (3,407,329 | ) | |
| 3,049,577 | |
| Unrealized gains (losses) on restricted assets (1) | |
| (3,257 | ) | |
| 4,288 | |
| Tax (expense) benefit | |
| 811 | | |
| (1,068 | ) |
| Net | |
| (2,446 | ) | |
| 3,220 | |
| Unrealized gains on cemetery perpetual care trust investments (1) | |
| 281 | | |
| 2,815 | |
| Unrealized gains (losses) | |
| 281 | | |
| 2,815 | |
| Tax (expense) | |
| (70 | ) | |
| (701 | ) |
| Net | |
| 211 | | |
| 2,114 | |
| Interest rate remeasurement of future policy benefits | |
| 14,536,081 | | |
| (8,122,845 | ) |
| Tax (expense) benefit | |
| (3,052,578 | ) | |
| 1,705,797 | |
| Net | |
| 11,483,503 | | |
| (6,417,048 | ) |
| Other comprehensive income (loss) changes | |
$ | 8,073,939 | | |
$ | (3,362,137 | ) |
| (1) | Fixed maturity
securities available for sale |
SECURITY
NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
Notes
to Condensed Consolidated Financial Statements
March
31, 2026 (Unaudited)
14)
Equity (Continued)
The
following table presents the accumulated balances of other comprehensive income (loss) as of March 31, 2026:
Schedule
of Accumulated Balances of Other Comprehensive Income
| | |
Beginning Balance
December 31, 2025 | | |
Change for the period | | |
Ending Balance
March 31, 2026 | |
| Unrealized gains (losses) on fixed maturity securities available for sale | |
$ | 752,551 | | |
$ | (3,407,329 | ) | |
$ | (2,654,778 | ) |
| Unrealized gains (losses) on restricted assets (1) | |
| 669 | | |
| (2,446 | ) | |
| (1,777 | ) |
| Unrealized gains (losses) on cemetery perpetual care trust investments (1) | |
| (1,613 | ) | |
| 211 | | |
| (1,402 | ) |
| Interest rate remeasurement of future policy benefits | |
| 28,010,516 | | |
| 11,483,503 | | |
| 39,494,019 | |
| Other comprehensive income | |
$ | 28,762,123 | | |
$ | 8,073,939 | | |
$ | 36,836,062 | |
| (1) | Fixed maturity
securities available for sale |
The
following table presents the accumulated balances of other comprehensive income (loss) as of December 31, 2025:
| | |
Beginning Balance
December 31, 2024 | | |
Change for the period | | |
Ending Balance
December 31, 2025 | |
| Unrealized gains (losses) on fixed maturity securities available for sale | |
$ | (7,147,384 | ) | |
$ | 7,899,935 | | |
$ | 752,551 | |
| Unrealized gains (losses) on restricted assets (1) | |
| (4,126 | ) | |
| 4,795 | | |
| 669 | |
| Unrealized gains (losses) on cemetery perpetual care trust investments (1) | |
| (5,225 | ) | |
| 3,612 | | |
| (1,613 | ) |
| Interest rate remeasurement of future policy benefits | |
| 40,876,364 | | |
$ | (12,865,848 | ) | |
| 28,010,516 | |
| Other comprehensive income (loss) | |
$ | 33,719,629 | | |
$ | (4,957,506 | ) | |
$ | 28,762,123 | |
| (1) | Fixed maturity
securities available for sale |
SECURITY
NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
Notes
to Condensed Consolidated Financial Statements
March
31, 2026 (Unaudited)
|