Security National Financial Corporation (SNFCA) Financial Statements (2024 and earlier)

Company Profile

Business Address PO BOX 57220
SALT LAKE CITY, UT 84157
State of Incorp. UT
Fiscal Year End December 31
Industry (SIC) 6199 - Finance Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments477,878469,479478,461416,125413,171429,355
Cash and cash equivalents110,28699,555120,92084,948131,297145,630
Short-term investments367,592369,925357,541331,177281,875283,725
Total current assets:477,878469,479478,461416,125413,171429,355
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   28   
Operating lease, right-of-use asset   9,988   
Inventory, real estate9,0349,1139,1019,0959,0378,939
Property, plant and equipment19,93320,23120,58020,57020,94421,223
Intangible assets, net (including goodwill)8,6968,4208,51059,63361,54360,838
Goodwill5,2545,2545,2545,2545,2545,254
Intangible assets, net (excluding goodwill)3,4423,1663,25754,37956,28955,584
Total noncurrent assets:37,66237,76348,20789,29891,52390,999
Other undisclosed assets888,067935,840934,445954,651967,473999,450
TOTAL ASSETS:1,403,6071,443,0821,461,1131,460,0741,472,1681,519,804
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities   16,352   
Accrued liabilities   16,352   
Total current liabilities:   16,352   
Noncurrent Liabilities
Liabilities, other than long-term debt   14,358   
Accounts payable and accrued liabilities   14,358   
Total noncurrent liabilities:   14,358   
Other undisclosed liabilities1,104,8441,146,0491,137,6151,191,2121,191,6831,227,503
Total liabilities:1,104,8441,146,0491,168,3261,191,2121,191,6831,227,503
Equity
Equity, attributable to parent, including:298,763297,034292,787268,862280,485292,301
Treasury stock, value(5,841)(4,950)(4,367)(5,042)(6,230)(844)
Additional paid in capital71,68664,80664,76864,84164,65758,379
Accumulated other comprehensive income (loss)(12,895)(8,943)(13,070)(15,072)(4,430)5,880
Retained earnings200,079202,729202,160180,920183,273187,766
Other undisclosed equity, attributable to parent45,73543,39243,29643,21543,21541,119
Total equity:298,763297,034292,787268,862280,485292,301
TOTAL LIABILITIES AND EQUITY:1,403,6071,443,0821,461,1131,460,0741,472,1681,519,804

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues83,84679,501108,18383,47795,567102,426
Premiums earned, net28,81327,96726,51026,23725,91226,342
Net investment income20,17217,77516,42918,60315,97115,194
Cost of revenue(10,702)(10,373)(946)(10,158)(9,290)(12,737)
Liability for future policy benefits, period expense (income)(8,500)(8,055) (7,390)(6,600)(6,771)
Amortization of mortgage servicing rights (msrs)      (3,152)
Gross profit:73,14469,127107,23773,31986,27789,689
Operating expenses(32,210)(32,539)(34,374)(41,000)(45,718)(48,761)
Other operating expense, net
(Other Expenses)
(7,403)(7,781)(11,354)(11,178)(11,174)(12,092)
Operating income:33,53028,80861,50921,14029,38428,836
Nonoperating income (expense)
(Investment Income, Nonoperating)
   13,388(4,249)(4,725)(4,414)
Interest and debt expense(1,415)(1,453)(2,066)(2,137)(1,900)(1,727)
Income from continuing operations before equity method investments, income taxes:32,11627,35472,83114,75522,76022,695
Other undisclosed loss from continuing operations before income taxes(23,966)(25,769)(44,325)(18,057)(18,030)(18,251)
Income (loss) from continuing operations before income taxes:8,1491,58528,506(3,302)4,7304,444
Income tax expense (benefit)(1,797)(345)(7,266)949(1,155)(1,215)
Income (loss) from continuing operations:6,3531,24021,240(2,353)3,5743,229
Income (loss) before gain (loss) on sale of properties:(2,353)3,5743,229
Net income (loss) available to common stockholders, diluted:6,3531,24021,240(2,353)3,5743,229

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):6,3531,24021,240(2,353)3,5743,229
Other comprehensive income (loss)(3,952)4,1282,001(10,641)(10,310)(12,190)
Comprehensive income (loss), net of tax, attributable to parent:2,4015,36823,242(12,994)(6,736)(8,962)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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