Receivables (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Receivables [Abstract] |
|
| Schedule of Receivable |
Receivables
consist of the following:
Schedule
of Receivable
| | |
As of
March 31, 2026 | | |
As of
December 31, 2025 | |
| Contracts with customers | |
$ | 7,034,138 | | |
$ | 6,981,676 | |
| Receivables from sales agents | |
| 4,441,441 | | |
| 4,193,842 | |
| Insurance premiums due | |
| 1,414,850 | | |
| 1,275,664 | |
| Other | |
| 4,835,232 | | |
| 4,588,564 | |
| Total receivables | |
| 17,725,661 | | |
| 17,039,746 | |
| Allowance for credit losses | |
| (1,523,072 | ) | |
| (1,428,672 | ) |
| Net receivables | |
$ | 16,202,589 | | |
$ | 15,611,074 | |
|
| Schedule of Allowance for Credit Losses |
The
following table presents a roll forward of the allowance for credit losses as of the dates indicated:
Schedule
of Allowance for Credit Losses
| | |
Three Months Ended | |
| Beginning balance - December 31, 2025 | |
$ | 1,428,672 | |
| Change in provision for credit losses (1) | |
| 147,555 | |
| Charge-offs | |
| (53,155 | ) |
| Ending balance - March 31, 2026 | |
$ | 1,523,072 | |
| | |
| | |
| Beginning balance - December 31, 2024 | |
$ | 1,678,531 | |
| Change in provision for credit losses (1) | |
| 16,142 | |
| Charge-offs | |
| (62,574 | ) |
| Ending balance - March 31, 2025 | |
$ | 1,632,099 | |
| (1) | | Included in other
expenses on the condensed consolidated statements of earnings |
|
| Schedule of Opening and Closing Balances of Receivables, Contract Assets and Contract Liabilities |
The
opening and closing balances of the Company’s receivables, contract assets and contract liabilities are as follows:
Schedule of Opening and Closing Balances of Receivables, Contract Assets and Contract Liabilities
| | |
Contract Balances | |
| | |
Receivables (1) | | |
Contract Asset | | |
Contract Liability | |
| Opening (December 31, 2025) | |
$ | 6,981,676 | | |
$ | - | | |
$ | 22,991,603 | |
| Closing (March 31, 2026) | |
| 7,034,138 | | |
| - | | |
| 23,487,532 | |
| Increase/(decrease) | |
| 52,462 | | |
| - | | |
| 495,929 | |
| | |
Contract Balances | |
| | |
Receivables (1) | | |
Contract Asset | | |
Contract Liability | |
| Opening (December 31, 2024) | |
$ | 7,095,589 | | |
$ | - | | |
$ | 20,168,405 | |
| Closing (December 31, 2025) | |
| 6,981,676 | | |
| - | | |
| 22,991,603 | |
| Increase/(decrease) | |
| (113,913 | ) | |
| - | | |
| 2,823,198 | |
| (1) | | Included in Receivables,
net on the condensed consolidated balance sheets |
|
| Schedule of Revenues of the Cemetery and Mortuary Contracts |
The
following table disaggregates revenue for the Company’s funeral home and cemetery contracts:
Schedule
of Revenues of the Cemetery and Mortuary Contracts
| | |
| | | |
| | |
| | |
Three Months Ended
March 31, | |
| | |
2026 | | |
2025 | |
| Major goods/service lines | |
| | | |
| | |
| At-need | |
$ | 5,845,861 | | |
$ | 5,716,277 | |
| Pre-need | |
| 1,887,962 | | |
| 1,583,944 | |
| Net
mortuary and cemetery sales | |
$ | 7,733,823 | | |
$ | 7,300,221 | |
| | |
| | | |
| | |
| Timing of Revenue Recognition | |
| | | |
| | |
| Goods transferred at a point in time | |
$ | 4,859,344 | | |
$ | 4,154,547 | |
| Services transferred at a point in time | |
| 2,874,479 | | |
| 3,145,674 | |
| Net
mortuary and cemetery sales | |
$ | 7,733,823 | | |
$ | 7,300,221 | |
|