Equity (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Equity [Abstract] |
|
| Summary of Activities in Shares of 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 |
|
| Schedule of Changes in Accumulated Other Comprehensive Income (Loss) |
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 |
|
| Schedule of Accumulated Balances of Other Comprehensive Income |
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)
|