投资者不动产 2025年季度报告

121 North Columbia Street,Chapel Hill,North Carolina27514 submit such files).Yes☒No☐ “emerging growth company” in Rule 12b-2 of the Exchange Act.Large accelerated filer☐Accelerated filer☒ FINANCIAL INFORMATION March31, 2025(unaudited)Note 1 –Basis of Presentation and Significant Accounting Policies significant accounting policies.Principles of Consolidation– The accompanying unaudited Consolidated Financial Statements include the accounts and statements have been condensed or omitted. All intercompany balances and transactions have been eliminated in consolidation.In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position, results of interim period. reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates andassumptions used. (in thousands)March 31, 2025December 31, 2024Balance, beginning of period$37,060$Provision charged to operations323Payments of claims, net of recoveries(386)Balance, end of period$36,997$ are settled by purchasing the interest of the insured or the claimant in the real property. When this event occurs, the Company carriesassets at the lower of cost or estimated fair value, net of any indebtedness on the property. Basic earnings per common share is computed by dividing net income by the weighted average number of common sharesoutstanding during the reporting period. Diluted earnings per common share is computed by dividing net income by the combination of dilutive potential common stock, comprised of shares issuable under the Company’s share-based compensation plans, and theweighted average number of common shares outstanding during the reporting period. Dilutive common share equivalents include thedilutive effect of in-the-money share-based awards, which are calculated based on the average share price for each period using thetreasury stock method. Under the treasury stock method, when share-based awards are assumed to be exercised, (a) the exercise priceof a share-based award and (b) the amount of compensation cost, if any, for future services that the Company has not yet recognized,are assumed to be used to repurchase shares in the current period. outstanding. The awards eligible to be granted under the active plan are limited to SARs, and the maximum aggregate number ofshares of common stock of the Company available pursuant to the plan for the grant of SARs is250thousandshares. SARs give theholder the right to receive stock equal to the appreciation in the value of shares of stock from the grant date for a specified period of As of March31, 2025, the only outstanding awards under the plans were SARs, which expire withinseven yearsor less from thedate of grant. All outstanding SARs vest and are exercisable withinfive yearsor less from the date of grant, and all SARs issued todate have been share-settled only. There have beennostock options or SARs granted where the exercise price was less than the marketprice on the date of grant. price and average remaining contractual term)Of SharesExercise PriceTerm (Years)Outstanding as of January 1, 202442$160.833.69$SARs granted5160.94 The tax-deferred exchange services segment acts as an intermediary in tax-deferred exchanges of property held for productive usein a trade or business or for investments and serves as exchange accommodation titleholder, holding property for exchangers in reverse 9 Interest cost on the projected benefit obligation1Amortization of unrecognized gain—Net periodic benefit cost$1$ GrossGross General obligations of U.S. states, territoriesand political subdivisions1,960(2)2,780(29)4,740Special revenue issuer obligations of U.S.states, territories and political subdivisions5,477(45)2,828(28)8,305 Common stocks$25,980$$25,980$ investment (losses) gains.Net Investment (Losses) GainsGross investment gains and losses for the three-month periods ended March 31, 2025 and 2024 are summarized as follows: Corporate debt securities$3$Common stocks2,557$2,560$ Maximum potential loss is calculated as the total investment in the LLC or LP, including any capital commitments that may can be derived or supported by observable market data. In the measurement of the estimated fair value of certain financial instruments, other valuation techniques were utilized if quotedmarket prices were not available. These derived fair value estimates are significantly affected by the assumptions used. Additionally,certain financial instruments, including those related to insurance contracts, pension and other postretirement benefits, and equitymethod investments are excluded from the scope of disclosures.In estimating the fair value of the financial instruments presented, the Company used the following methods and assumptions: these assets.The following table presents, by level, fixed maturity securities carried at estimated fair value as of March31, 2025 andDecember31, 2024:As of March 31, 2025 (in thousa