Receivables (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Receivables [Abstract] |
|
| Schedule of Receivable |
Receivables
consist of the following:
Schedule
of Receivable
| | |
As
of
June
30, 2026 | | |
As
of
December
31, 2025 | |
| Contracts
with customers | |
$ | 7,581,046 | | |
$ | 6,981,676 | |
| Receivables
from sales agents | |
| 4,706,484 | | |
| 4,193,842 | |
| Insurance
premiums due | |
| 1,431,040 | | |
| 1,275,664 | |
| Other | |
| 4,858,150 | | |
| 4,588,564 | |
| Total
receivables | |
| 18,576,720 | | |
| 17,039,746 | |
| Allowance
for credit losses | |
| (1,546,298 | ) | |
| (1,428,672 | ) |
| Net
receivables | |
$ | 17,030,422 | | |
$ | 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 - March 31, 2026 | |
$ | 1,523,072 | |
| Change
in provision for credit losses (1) | |
| 72,786 | |
| Charge-offs | |
| (49,560 | ) |
| Ending
balance - June 30, 2026 | |
$ | 1,546,298 | |
| | |
| | |
| Beginning
balance - March 31, 2025 | |
$ | 1,632,099 | |
| Change
in provision for credit losses (1) | |
| (104,209 | ) |
| Charge-offs | |
| (36,847 | ) |
| Ending
balance - June 30, 2025 | |
$ | 1,491,043 | |
| (1) |
Included in other expenses on the condensed consolidated statements
of earnings |
| | |
Six
Months Ended | |
| Beginning
balance - December 31, 2025 | |
$ | 1,428,672 | |
| Change
in provision for credit losses (1) | |
| 220,341 | |
| Charge-offs | |
| (102,715 | ) |
| Ending
balance - June 30, 2026 | |
$ | 1,546,298 | |
| | |
| | |
| Beginning
balance - December 31, 2024 | |
$ | 1,678,531 | |
| Change
in provision for credit losses (1) | |
| (88,067 | ) |
| Charge-offs | |
| (99,421 | ) |
| Ending
balance - June 30, 2025 | |
$ | 1,491,043 | |
| (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
(June 30, 2026) | |
| 7,581,046 | | |
| - | | |
| 24,611,358 | |
| Increase/(decrease) | |
| 599,370 | | |
| - | | |
| 1,619,755 | |
| | |
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
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three
Months Ended
June
30, | | |
Six
Months Ended
June
30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Major
goods/service lines | |
| | | |
| | | |
| | | |
| | |
| At-need | |
$ | 5,321,687 | | |
$ | 5,083,789 | | |
$ | 11,167,549 | | |
$ | 10,800,066 | |
| Pre-need | |
| 2,277,901 | | |
| 2,173,928 | | |
| 4,165,862 | | |
| 3,757,872 | |
| Net
mortuary and cemetery sales | |
$ | 7,599,588 | | |
$ | 7,257,717 | | |
$ | 15,333,411 | | |
$ | 14,557,938 | |
| | |
| | | |
| | | |
| | | |
| | |
| Timing
of Revenue Recognition | |
| | | |
| | | |
| | | |
| | |
| Goods
transferred at a point in time | |
$ | 5,043,304 | | |
$ | 4,843,082 | | |
$ | 9,902,648 | | |
$ | 8,997,629 | |
| Services
transferred at a point in time | |
| 2,556,284 | | |
| 2,414,635 | | |
| 5,430,763 | | |
| 5,560,309 | |
| Net
mortuary and cemetery sales | |
$ | 7,599,588 | | |
$ | 7,257,717 | | |
$ | 15,333,411 | | |
$ | 14,557,938 | |
|