| Comprehensive Income (Loss) Note [Text Block] |
7. Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income
The changes in the components of the Company’s accumulated other comprehensive income for the three and six months ended June 30, 2026 and 2025 are summarized as follows:
| |
|
Three Months Ended June 30, 2026 and 2025 (Unaudited)
|
|
| |
|
|
|
|
|
Remeasurement
|
|
|
|
|
|
| |
|
Unrealized
|
|
|
Gains on Future
|
|
|
Accumulated
|
|
| |
|
Depreciation on
|
|
|
Policy Benefits
|
|
|
Other
|
|
| |
|
Available-For-Sale
|
|
|
Related to
|
|
|
Comprehensive
|
|
| |
|
Securities
|
|
|
Discount Rate
|
|
|
Income
|
|
|
Balance as of April 1, 2026
|
|
$ |
(6,946,140 |
) |
|
$ |
15,009,930 |
|
|
$ |
8,063,790 |
|
|
Other comprehensive loss before reclassifications, net of tax
|
|
|
106,129 |
|
|
|
(619,519 |
) |
|
|
(513,390 |
) |
|
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax
|
|
|
33,049 |
|
|
|
- |
|
|
|
33,049 |
|
|
Other comprehensive loss
|
|
|
73,080 |
|
|
|
(619,519 |
) |
|
|
(546,439 |
) |
|
Balance as of June 30, 2026
|
|
$ |
(6,873,060 |
) |
|
$ |
14,390,411 |
|
|
$ |
7,517,351 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of April 1, 2025
|
|
$ |
(7,986,508 |
) |
|
$ |
13,230,122 |
|
|
$ |
5,243,614 |
|
|
Other comprehensive income before reclassifications, net of tax
|
|
|
399,732 |
|
|
|
397,200 |
|
|
|
796,932 |
|
|
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax
|
|
|
(57,900 |
) |
|
|
- |
|
|
|
(57,900 |
) |
|
Other comprehensive income
|
|
|
457,632 |
|
|
|
397,200 |
|
|
|
854,832 |
|
|
Balance as of June 30, 2025
|
|
$ |
(7,528,876 |
) |
|
$ |
13,627,322 |
|
|
$ |
6,098,446 |
|
| |
|
Six Months Ended June 30, 2026 and 2025 (Unaudited)
|
|
| |
|
|
|
|
|
Remeasurement
|
|
|
|
|
|
| |
|
Unrealized
|
|
|
Gains on Future
|
|
|
Accumulated
|
|
| |
|
Depreciation on
|
|
|
Policy Benefits
|
|
|
Other
|
|
| |
|
Available-For-Sale
|
|
|
Related to
|
|
|
Comprehensive
|
|
| |
|
Securities
|
|
|
Discount Rate
|
|
|
Income
|
|
|
Balance as of January 1, 2026
|
|
$ |
(4,829,770 |
) |
|
$ |
13,330,326 |
|
|
$ |
8,500,556 |
|
|
Other comprehensive loss before reclassifications, net of tax
|
|
|
(2,005,878 |
) |
|
|
1,060,085 |
|
|
|
(945,793 |
) |
|
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax
|
|
|
37,412 |
|
|
|
- |
|
|
|
37,412 |
|
|
Other comprehensive loss
|
|
|
(2,043,290 |
) |
|
|
1,060,085 |
|
|
|
(983,205 |
) |
|
Balance as of June 30, 2026
|
|
$ |
(6,873,060 |
) |
|
$ |
14,390,411 |
|
|
$ |
7,517,351 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of January 1, 2025
|
|
$ |
(11,026,727 |
) |
|
$ |
14,066,588 |
|
|
$ |
3,039,861 |
|
|
Other comprehensive income before reclassifications, net of tax
|
|
|
3,618,554 |
|
|
|
(439,266 |
) |
|
|
3,179,288 |
|
|
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax
|
|
|
120,703 |
|
|
|
- |
|
|
|
120,703 |
|
|
Other comprehensive income
|
|
|
3,497,851 |
|
|
|
(439,266 |
) |
|
|
3,058,585 |
|
|
Balance as of June 30, 2025
|
|
$ |
(7,528,876 |
) |
|
$ |
13,627,322 |
|
|
$ |
6,098,446 |
|
The pretax components of the Company’s other comprehensive income (loss) and the related income tax expense (benefit) for each component for the three and six months ended June 30, 2026 and 2025 are summarized as follows:
| |
|
Three Months Ended June 30, 2026 (Unaudited)
|
|
| |
|
|
|
|
|
Income Tax
|
|
|
|
|
|
| |
|
Pretax
|
|
|
Expense (Benefit)
|
|
|
Net of Tax
|
|
|
Other comprehensive loss:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in net unrealized gains on available-for-sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized holding gains arising during the period
|
|
$ |
134,341 |
|
|
$ |
28,212 |
|
|
$ |
106,129 |
|
|
Reclassification adjustment for net gains included in operations having no credit losses
|
|
|
41,835 |
|
|
|
8,786 |
|
|
|
33,049 |
|
|
Net unrealized gains on investments
|
|
|
92,506 |
|
|
|
19,426 |
|
|
|
73,080 |
|
|
Remeasurement loss on future policy benefits related to discount rate
|
|
|
(784,202 |
) |
|
|
(164,683 |
) |
|
|
(619,519 |
) |
|
Total other comprehensive loss
|
|
$ |
(691,696 |
) |
|
$ |
(145,257 |
) |
|
$ |
(546,439 |
) |
| |
|
Three Months Ended June 30, 2025 (Unaudited)
|
|
| |
|
|
|
|
|
Income Tax
|
|
|
|
|
|
| |
|
Pretax
|
|
|
Expense (Benefit)
|
|
|
Net of Tax
|
|
|
Other comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in net unrealized gains on available-for-sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized holding gains arising during the period
|
|
$ |
505,990 |
|
|
$ |
106,258 |
|
|
$ |
399,732 |
|
|
Reclassification adjustment for net losses included in operations having no credit losses
|
|
|
(73,291 |
) |
|
|
(15,391 |
) |
|
|
(57,900 |
) |
|
Net unrealized gains on investments
|
|
|
579,281 |
|
|
|
121,649 |
|
|
|
457,632 |
|
|
Remeasurement gains on future policy benefits related to discount rate
|
|
|
502,785 |
|
|
|
105,585 |
|
|
|
397,200 |
|
|
Total other comprehensive income
|
|
$ |
1,082,066 |
|
|
$ |
227,234 |
|
|
$ |
854,832 |
|
| |
|
Six Months Ended June 30, 2026 (Unaudited)
|
|
| |
|
|
|
|
|
Income Tax
|
|
|
|
|
|
| |
|
Pretax
|
|
|
Expense (Benefit)
|
|
|
Net of Tax
|
|
|
Other comprehensive loss:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in net unrealized losses on available-for-sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized holding losses arising during the period
|
|
$ |
(2,539,087 |
) |
|
$ |
(533,209 |
) |
|
$ |
(2,005,878 |
) |
|
Reclassification adjustment for net gains included in operations having no credit losses
|
|
|
47,357 |
|
|
|
9,945 |
|
|
|
37,412 |
|
|
Net unrealized losses on investments
|
|
|
(2,586,444 |
) |
|
|
(543,154 |
) |
|
|
(2,043,290 |
) |
|
Remeasurement loss on future policy benefits related to discount rate
|
|
|
1,341,880 |
|
|
|
281,795 |
|
|
|
1,060,085 |
|
|
Total other comprehensive loss
|
|
$ |
(1,244,564 |
) |
|
$ |
(261,359 |
) |
|
$ |
(983,205 |
) |
| |
|
Six Months Ended June 30, 2025 (Unaudited)
|
|
| |
|
|
|
|
|
Income Tax
|
|
|
|
|
|
| |
|
Pretax
|
|
|
Expense (Benefit)
|
|
|
Net of Tax
|
|
|
Other comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in net unrealized gains on available-for-sale securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized holding gains arising during the period
|
|
$ |
4,580,448 |
|
|
$ |
961,894 |
|
|
$ |
3,618,554 |
|
|
Reclassification adjustment for net gains included in operations having no credit losses
|
|
|
152,789 |
|
|
|
32,086 |
|
|
|
120,703 |
|
|
Net unrealized gains on investments
|
|
|
4,427,659 |
|
|
|
929,808 |
|
|
|
3,497,851 |
|
|
Remeasurement loss on future policy benefits related to discount rate
|
|
|
(556,033 |
) |
|
|
(116,767 |
) |
|
|
(439,266 |
) |
|
Total other comprehensive income
|
|
$ |
3,871,626 |
|
|
$ |
813,041 |
|
|
$ |
3,058,585 |
|
Realized gains and losses on the sales of investments are determined based upon the specific identification method and include provisions for other-than-temporary impairments where appropriate.
The pretax and the related income tax components of the amounts reclassified from the Company’s accumulated other comprehensive income to the Company’s consolidated statement of operations for the three and six months ended June 30, 2026 and 2025 are summarized as follows:
| |
|
Three Months Ended June 30, (Unaudited)
|
|
|
Six Months Ended June 30, (Unaudited)
|
|
|
Reclassification Adjustments
|
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
Unrealized losses on available-for-sale securities having no credit losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized gains (losses) on sales of securities (a)
|
|
$ |
41,835 |
|
|
$ |
(73,291 |
) |
|
$ |
47,357 |
|
|
$ |
152,789 |
|
|
Income tax expense (benefit) (b)
|
|
|
8,786 |
|
|
|
(15,391 |
) |
|
|
9,945 |
|
|
|
32,086 |
|
|
Total reclassification adjustments
|
|
$ |
33,049 |
|
|
$ |
(57,900 |
) |
|
$ |
37,412 |
|
|
$ |
120,703 |
|
(a) These items appear within net realized investment gains (losses) in the consolidated statements of operations.
(b) These items appear within federal income taxes in the consolidated statements of operations.
|