XML 35 R23.htm IDEA: XBRL DOCUMENT
v3.22.2

Preneed Activities Level 3 (Tables) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021
Preneed Activities [Abstract] |  |  |
Investment related activities [Table Text Block] |  |
| Three months ended June 30, |  | Six months ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
Deposits | $ | 140,450 |  |  | $ | 133,819 |  |  | $ | 268,422 |  |  | $ | 254,102 |
Withdrawals | $ | 123,787 |  |  | $ | 117,578 |  |  | $ | 246,151 |  |  | $ | 230,158 |
Purchases of securities | $ | 434,659 |  |  | $ | 379,836 |  |  | $ | 903,956 |  |  | $ | 812,567 |
Sales of securities | $ | 429,281 |  |  | $ | 399,076 |  |  | $ | 823,683 |  |  | $ | 831,075 |
Realized gains from sales of securities(1) | $ | 117,684 |  |  | $ | 174,732 |  |  | $ | 221,239 |  |  | $ | 304,919 |
Realized losses from sales of securities(1) | $ | (52,711) |  |  | $ | (17,644) |  |  | $ | (80,643) |  |  | $ | (33,812) |
Long-term receivable and investment components [Table Text Block] |  |
| June 30, 2022 |  | December 31, 2021
| (In thousands)
Preneed receivables, net | $ | 1,326,506 |  |  | $ | 1,243,781 |
Trust investments, at market | 5,547,990 |  |  | 6,536,851 |
Insurance-backed fixed income securities and other | 225,828 |  |  | 231,589 |
Trust investments | 5,773,818 |  |  | 6,768,440 |
Less: Cemetery perpetual care trust investments | (1,681,703) |  |  | (1,996,898) |
Preneed trust investments | 4,092,115 |  |  | 4,771,542 |
Preneed receivables, net and trust investments | $ | 5,418,621 |  |  | $ | 6,015,323 |
Preneed receivables, net comprised the following:
| June 30, 2022
| Funeral |  | Cemetery |  | Total
| (In thousands)
Preneed receivables | $ | 174,770 |  |  | $ | 1,195,158 |  |  | $ | 1,369,928 |
Unearned finance charges | (11,429) |  |  | (8,427) |  |  | (19,856) |
Preneed receivables, at amortized cost | 163,341 |  |  | 1,186,731 |  |  | 1,350,072 |
Reserve for credit losses | (14,034) |  |  | (9,532) |  |  | (23,566) |
Preneed receivables, net | $ | 149,307 |  |  | $ | 1,177,199 |  |  | $ | 1,326,506 |
| December 31, 2021
| Funeral |  | Cemetery |  | Total
| (In thousands)
Preneed receivables | $ | 162,183 |  |  | $ | 1,125,539 |  |  | $ | 1,287,722 |
Unearned finance charges | (12,038) |  |  | (11,176) |  |  | (23,214) |
Preneed receivables, at amortized cost | 150,145 |  |  | 1,114,363 |  |  | 1,264,508 |
Reserve for credit losses | (12,722) |  |  | (8,005) |  |  | (20,727) |
Preneed receivables, net | $ | 137,423 |  |  | $ | 1,106,358 |  |  | $ | 1,243,781 |
Preneed Funeral Receivables, Net and Trust Investments [Table Text Block] |  | The components of Preneed receivables, net and trust investments in our unaudited Condensed Consolidated Balance Sheet were as follows:
| June 30, 2022 |  | December 31, 2021
| (In thousands)
Preneed receivables, net | $ | 1,326,506 |  |  | $ | 1,243,781 |
Trust investments, at market | 5,547,990 |  |  | 6,536,851 |
Insurance-backed fixed income securities and other | 225,828 |  |  | 231,589 |
Trust investments | 5,773,818 |  |  | 6,768,440 |
Less: Cemetery perpetual care trust investments | (1,681,703) |  |  | (1,996,898) |
Preneed trust investments | 4,092,115 |  |  | 4,771,542 |
Preneed receivables, net and trust investments | $ | 5,418,621 |  |  | $ | 6,015,323 |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] |
|  | December 31, 2021
| Fair Value Hierarchy Level | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Value
|  |  |  | (In thousands) |  |
Fixed income securities: |  |  |  |  |  |  |  |
U.S. Treasury | 2 | $ | 51,002 |  |  | $ | 795 |  |  | $ | (283) |  |  | $ | 51,514 |
Canadian government | 2 | 29,881 |  |  | 28 |  |  | — |  |  | 29,909 |
Corporate | 2 | 170 |  |  | 6 |  |  | (2) |  |  | 174 |
Residential mortgage-backed | 2 | 1,407 |  |  | 58 |  |  | (15) |  |  | 1,450 |
Asset-backed | 2 | 274 |  |  | 2 |  |  | (10) |  |  | 266 |
Equity securities: |  |  |  |  |  |  |  |
Preferred stock | 2 | 4,843 |  |  | 4 |  |  | (1,024) |  |  | 3,823 |
Common stock: |  |  |  |  |  |  |  |
United States | 1 | 1,648,785 |  |  | 624,349 |  |  | (56,092) |  |  | 2,217,042 |
Canada | 1 | 34,787 |  |  | 19,617 |  |  | (898) |  |  | 53,506 |
Other international | 1 | 129,486 |  |  | 42,171 |  |  | (9,819) |  |  | 161,838 |
Mutual funds: |  |  |  |  |  |  |  |
Equity | 1 | 875,828 |  |  | 140,893 |  |  | (10,116) |  |  | 1,006,605 |
Fixed income | 1 | 1,025,327 |  |  | 12,560 |  |  | (18,675) |  |  | 1,019,212 |
Other | 3 | 187 |  |  | 1 |  |  | — |  |  | 188 |
Trust investments, at fair value |  | 3,801,977 |  |  | 840,484 |  |  | (96,934) |  |  | 4,545,527 |
Commingled funds |  |  |  |  |  |  |  |
Fixed income |  | 662,125 |  |  | 115,939 |  |  | (3,171) |  |  | 774,893 |
Equity |  | 230,926 |  |  | 161,125 |  |  | (114) |  |  | 391,937 |
Money market funds |  | 408,762 |  |  | — |  |  | — |  |  | 408,762 |
Alternative investments |  | 292,888 |  |  | 128,197 |  |  | (5,353) |  |  | 415,732 |
Trust investments, at net asset value |  | 1,594,701 |  |  | 405,261 |  |  | (8,638) |  |  | 1,991,324 |
Trust investments, at market |  | $ | 5,396,678 |  |  | $ | 1,245,745 |  |  | $ | (105,572) |  |  | $ | 6,536,851 |
|  | June 30, 2022
| Fair Value Hierarchy Level | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Value
|  |  |  | (In thousands) |  |
Fixed income securities: |  |  |  |  |  |  |  |
U.S. Treasury | 2 | $ | 49,838 |  |  | $ | 159 |  |  | $ | (1,480) |  |  | $ | 48,517 |
Canadian government | 2 | 32,889 |  |  | 17 |  |  | — |  |  | 32,906 |
Corporate | 2 | 1,362 |  |  | 1 |  |  | (99) |  |  | 1,264 |
Residential mortgage-backed | 2 | 1,428 |  |  | 1 |  |  | (61) |  |  | 1,368 |
Asset-backed | 2 | 300 |  |  | 1 |  |  | (44) |  |  | 257 |
Equity securities: |  |  |  |  |  |  |  |
Preferred stock | 2 | 4,341 |  |  | — |  |  | (1,492) |  |  | 2,849 |
Common stock: |  |  |  |  |  |  |  |
United States | 1 | 1,723,029 |  |  | 236,461 |  |  | (254,580) |  |  | 1,704,910 |
Canada | 1 | 48,097 |  |  | 11,750 |  |  | (14,763) |  |  | 45,084 |
Other international | 1 | 149,430 |  |  | 8,764 |  |  | (27,600) |  |  | 130,594 |
Mutual funds: |  |  |  |  |  |  |  |
Equity | 1 | 908,801 |  |  | 55,050 |  |  | (130,621) |  |  | 833,230 |
Fixed income | 1 | 1,109,802 |  |  | 9,875 |  |  | (140,217) |  |  | 979,460 |
Other | 3 | 187 |  |  | 1 |  |  | — |  |  | 188 |
Trust investments, at fair value |  | 4,029,504 |  |  | 322,080 |  |  | (570,957) |  |  | 3,780,627 |
Commingled funds |  |  |  |  |  |  |  |
Fixed income |  | 677,724 |  |  | 78,464 |  |  | (73,699) |  |  | 682,489 |
Equity |  | 234,318 |  |  | 65,230 |  |  | (6,194) |  |  | 293,354 |
Money market funds |  | 319,375 |  |  | — |  |  | — |  |  | 319,375 |
Alternative investments |  | 309,352 |  |  | 163,765 |  |  | (972) |  |  | 472,145 |
Trust investments, at net asset value |  | 1,540,769 |  |  | 307,459 |  |  | (80,865) |  |  | 1,767,363 |
Trust investments, at market |  | $ | 5,570,273 |  |  | $ | 629,539 |  |  | $ | (651,822) |  |  | $ | 5,547,990 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |  | The change in our market-based trust investments with significant unobservable inputs (Level 3) is as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
Fair value, beginning balance | $ | 188 |  |  | $ | 190 |  |  | $ | 188 |  |  | $ | 190 |
Net realized and unrealized (losses) included in Other income, net(1) | — |  |  | (1) |  |  | — |  |  | (1) |
Fair value, ending balance | $ | 188 |  |  | $ | 189 |  |  | $ | 188 |  |  | $ | 189 |
(1)All net realized and unrealized (losses) recognized in Other (expense) income, net for our trust investments are offset by a corresponding reclassification in Other (expense) income, net to Deferred receipts held in trust and Care trusts' corpus. |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |  |
| Three months ended June 30, |  | Six months ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
Fair value, beginning balance | $ | 188 |  |  | $ | 190 |  |  | $ | 188 |  |  | $ | 190 |
Net realized and unrealized (losses) included in Other income, net(1) | — |  |  | (1) |  |  | — |  |  | (1) |
Fair value, ending balance | $ | 188 |  |  | $ | 189 |  |  | $ | 188 |  |  | $ | 189 |
Preneed Activities Text Block |  | Preneed Activities Preneed Receivables, Net and Trust Investments The components of Preneed receivables, net and trust investments in our unaudited Condensed Consolidated Balance Sheet were as follows:
| June 30, 2022 |  | December 31, 2021
| (In thousands)
Preneed receivables, net | $ | 1,326,506 |  |  | $ | 1,243,781 |
Trust investments, at market | 5,547,990 |  |  | 6,536,851 |
Insurance-backed fixed income securities and other | 225,828 |  |  | 231,589 |
Trust investments | 5,773,818 |  |  | 6,768,440 |
Less: Cemetery perpetual care trust investments | (1,681,703) |  |  | (1,996,898) |
Preneed trust investments | 4,092,115 |  |  | 4,771,542 |
Preneed receivables, net and trust investments | $ | 5,418,621 |  |  | $ | 6,015,323 |
Preneed receivables, net comprised the following:
| June 30, 2022
| Funeral |  | Cemetery |  | Total
| (In thousands)
Preneed receivables | $ | 174,770 |  |  | $ | 1,195,158 |  |  | $ | 1,369,928 |
Unearned finance charges | (11,429) |  |  | (8,427) |  |  | (19,856) |
Preneed receivables, at amortized cost | 163,341 |  |  | 1,186,731 |  |  | 1,350,072 |
Reserve for credit losses | (14,034) |  |  | (9,532) |  |  | (23,566) |
Preneed receivables, net | $ | 149,307 |  |  | $ | 1,177,199 |  |  | $ | 1,326,506 |
| December 31, 2021
| Funeral |  | Cemetery |  | Total
| (In thousands)
Preneed receivables | $ | 162,183 |  |  | $ | 1,125,539 |  |  | $ | 1,287,722 |
Unearned finance charges | (12,038) |  |  | (11,176) |  |  | (23,214) |
Preneed receivables, at amortized cost | 150,145 |  |  | 1,114,363 |  |  | 1,264,508 |
Reserve for credit losses | (12,722) |  |  | (8,005) |  |  | (20,727) |
Preneed receivables, net | $ | 137,423 |  |  | $ | 1,106,358 |  |  | $ | 1,243,781 |
At June 30, 2022, the amortized cost basis of our preneed receivables by year of origination was as follows:
| 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Total
| (In thousands)
Preneed receivables, at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |
Funeral | $ | 45,242 |  |  | $ | 54,855 |  |  | $ | 28,813 |  |  | $ | 15,829 |  |  | $ | 5,417 |  |  | $ | 13,185 |  |  | $ | 163,341 |
Cemetery | 279,990 |  |  | 438,945 |  |  | 252,283 |  |  | 116,143 |  |  | 60,011 |  |  | 39,359 |  |  | 1,186,731 |
Total preneed receivables, at amortized cost | $ | 325,232 |  |  | $ | 493,800 |  |  | $ | 281,096 |  |  | $ | 131,972 |  |  | $ | 65,428 |  |  | $ | 52,544 |  |  | $ | 1,350,072 |
At June 30, 2022, the payment status of our preneed receivables was as follows:
| Past Due |  |  |  |
| <30 Days |  | 30-90 Days |  | 90-180 Days |  | >180 Days |  | Total |  | Current |  | Total
| (In thousands)
Preneed receivables, at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |
Funeral | $ | 3,241 |  |  | $ | 2,743 |  |  | $ | 1,662 |  |  | $ | 19,934 |  |  | $ | 27,580 |  |  | $ | 135,761 |  |  | $ | 163,341 |
Cemetery | 33,783 |  |  | 24,728 |  |  | 5,538 |  |  | 4,535 |  |  | 68,584 |  |  | 1,118,147 |  |  | 1,186,731 |
Total preneed receivables, at amortized cost | $ | 37,024 |  |  | $ | 27,471 |  |  | $ | 7,200 |  |  | $ | 24,469 |  |  | $ | 96,164 |  |  | $ | 1,253,908 |  |  | $ | 1,350,072 |
The following table summarizes the activity for the reserve for credit losses on preneed receivables for the six months ended June 30, 2022:
| December 31, 2021 |  | Provision for Expected Credit Losses |  |  |  | Write Offs |  |  |  | Effect of Foreign Currency |  | June 30, 2022
| (In thousands)
Funeral | $ | (12,722) |  |  | $ | (2,950) |  |  |  |  | $ | 1,636 |  |  |  |  | $ | 2 |  |  | $ | (14,034) |
Cemetery | (8,005) |  |  | (1,861) |  |  |  |  | 333 |  |  |  |  | 1 |  |  | (9,532) |
Total reserve for credit losses on preneed receivables | $ | (20,727) |  |  | $ | (4,811) |  |  |  |  | $ | 1,969 |  |  |  |  | $ | 3 |  |  | $ | (23,566) |
The table below sets forth certain investment-related activities associated with our trusts:
| Three months ended June 30, |  | Six months ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
Deposits | $ | 140,450 |  |  | $ | 133,819 |  |  | $ | 268,422 |  |  | $ | 254,102 |
Withdrawals | $ | 123,787 |  |  | $ | 117,578 |  |  | $ | 246,151 |  |  | $ | 230,158 |
Purchases of securities | $ | 434,659 |  |  | $ | 379,836 |  |  | $ | 903,956 |  |  | $ | 812,567 |
Sales of securities | $ | 429,281 |  |  | $ | 399,076 |  |  | $ | 823,683 |  |  | $ | 831,075 |
Realized gains from sales of securities(1) | $ | 117,684 |  |  | $ | 174,732 |  |  | $ | 221,239 |  |  | $ | 304,919 |
Realized losses from sales of securities(1) | $ | (52,711) |  |  | $ | (17,644) |  |  | $ | (80,643) |  |  | $ | (33,812) |
(1)All realized gains and losses are recognized in Other (expense) income, net for our trust investments and are offset by a corresponding reclassification in Other (expense) income, net to Deferred receipts held in trust and Care trusts’ corpus. The cost and market values associated with trust investments recorded at market value are detailed below. Cost reflects the investment (net of redemptions) of control holders in the trusts. Fair value represents the value of the underlying securities held by the trusts.
|  | June 30, 2022
| Fair Value Hierarchy Level | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Value
|  |  |  | (In thousands) |  |
Fixed income securities: |  |  |  |  |  |  |  |
U.S. Treasury | 2 | $ | 49,838 |  |  | $ | 159 |  |  | $ | (1,480) |  |  | $ | 48,517 |
Canadian government | 2 | 32,889 |  |  | 17 |  |  | — |  |  | 32,906 |
Corporate | 2 | 1,362 |  |  | 1 |  |  | (99) |  |  | 1,264 |
Residential mortgage-backed | 2 | 1,428 |  |  | 1 |  |  | (61) |  |  | 1,368 |
Asset-backed | 2 | 300 |  |  | 1 |  |  | (44) |  |  | 257 |
Equity securities: |  |  |  |  |  |  |  |
Preferred stock | 2 | 4,341 |  |  | — |  |  | (1,492) |  |  | 2,849 |
Common stock: |  |  |  |  |  |  |  |
United States | 1 | 1,723,029 |  |  | 236,461 |  |  | (254,580) |  |  | 1,704,910 |
Canada | 1 | 48,097 |  |  | 11,750 |  |  | (14,763) |  |  | 45,084 |
Other international | 1 | 149,430 |  |  | 8,764 |  |  | (27,600) |  |  | 130,594 |
Mutual funds: |  |  |  |  |  |  |  |
Equity | 1 | 908,801 |  |  | 55,050 |  |  | (130,621) |  |  | 833,230 |
Fixed income | 1 | 1,109,802 |  |  | 9,875 |  |  | (140,217) |  |  | 979,460 |
Other | 3 | 187 |  |  | 1 |  |  | — |  |  | 188 |
Trust investments, at fair value |  | 4,029,504 |  |  | 322,080 |  |  | (570,957) |  |  | 3,780,627 |
Commingled funds |  |  |  |  |  |  |  |
Fixed income |  | 677,724 |  |  | 78,464 |  |  | (73,699) |  |  | 682,489 |
Equity |  | 234,318 |  |  | 65,230 |  |  | (6,194) |  |  | 293,354 |
Money market funds |  | 319,375 |  |  | — |  |  | — |  |  | 319,375 |
Alternative investments |  | 309,352 |  |  | 163,765 |  |  | (972) |  |  | 472,145 |
Trust investments, at net asset value |  | 1,540,769 |  |  | 307,459 |  |  | (80,865) |  |  | 1,767,363 |
Trust investments, at market |  | $ | 5,570,273 |  |  | $ | 629,539 |  |  | $ | (651,822) |  |  | $ | 5,547,990 |
|  | December 31, 2021
| Fair Value Hierarchy Level | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Value
|  |  |  | (In thousands) |  |
Fixed income securities: |  |  |  |  |  |  |  |
U.S. Treasury | 2 | $ | 51,002 |  |  | $ | 795 |  |  | $ | (283) |  |  | $ | 51,514 |
Canadian government | 2 | 29,881 |  |  | 28 |  |  | — |  |  | 29,909 |
Corporate | 2 | 170 |  |  | 6 |  |  | (2) |  |  | 174 |
Residential mortgage-backed | 2 | 1,407 |  |  | 58 |  |  | (15) |  |  | 1,450 |
Asset-backed | 2 | 274 |  |  | 2 |  |  | (10) |  |  | 266 |
Equity securities: |  |  |  |  |  |  |  |
Preferred stock | 2 | 4,843 |  |  | 4 |  |  | (1,024) |  |  | 3,823 |
Common stock: |  |  |  |  |  |  |  |
United States | 1 | 1,648,785 |  |  | 624,349 |  |  | (56,092) |  |  | 2,217,042 |
Canada | 1 | 34,787 |  |  | 19,617 |  |  | (898) |  |  | 53,506 |
Other international | 1 | 129,486 |  |  | 42,171 |  |  | (9,819) |  |  | 161,838 |
Mutual funds: |  |  |  |  |  |  |  |
Equity | 1 | 875,828 |  |  | 140,893 |  |  | (10,116) |  |  | 1,006,605 |
Fixed income | 1 | 1,025,327 |  |  | 12,560 |  |  | (18,675) |  |  | 1,019,212 |
Other | 3 | 187 |  |  | 1 |  |  | — |  |  | 188 |
Trust investments, at fair value |  | 3,801,977 |  |  | 840,484 |  |  | (96,934) |  |  | 4,545,527 |
Commingled funds |  |  |  |  |  |  |  |
Fixed income |  | 662,125 |  |  | 115,939 |  |  | (3,171) |  |  | 774,893 |
Equity |  | 230,926 |  |  | 161,125 |  |  | (114) |  |  | 391,937 |
Money market funds |  | 408,762 |  |  | — |  |  | — |  |  | 408,762 |
Alternative investments |  | 292,888 |  |  | 128,197 |  |  | (5,353) |  |  | 415,732 |
Trust investments, at net asset value |  | 1,594,701 |  |  | 405,261 |  |  | (8,638) |  |  | 1,991,324 |
Trust investments, at market |  | $ | 5,396,678 |  |  | $ | 1,245,745 |  |  | $ | (105,572) |  |  | $ | 6,536,851 |
Our alternative investments include funds invested in limited partnerships with interests in private equity, private market real estate, energy and natural resources, infrastructure, transportation, and private debt including both distressed debt and mezzanine financing. These investments can never be redeemed by the funds. Instead, due to the nature of the investments in this category, distributions are received through the liquidation of the underlying assets of the funds. The funds' managers have not communicated the timing of any liquidations. The change in our market-based trust investments with significant unobservable inputs (Level 3) is as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
Fair value, beginning balance | $ | 188 |  |  | $ | 190 |  |  | $ | 188 |  |  | $ | 190 |
Net realized and unrealized (losses) included in Other income, net(1) | — |  |  | (1) |  |  | — |  |  | (1) |
Fair value, ending balance | $ | 188 |  |  | $ | 189 |  |  | $ | 188 |  |  | $ | 189 |
(1)All net realized and unrealized (losses) recognized in Other (expense) income, net for our trust investments are offset by a corresponding reclassification in Other (expense) income, net to Deferred receipts held in trust and Care trusts' corpus. Maturity dates of our fixed income securities range from 2022 to 2040. Maturities of fixed income securities (excluding mutual funds) at June 30, 2022 are estimated as follows:
| Fair Value
| (In thousands)
Due in one year or less | $ | 53,260 |
Due in one to five years | 25,888 |
Due in five to ten years | 4,963 |
Thereafter | 201 |
Total estimated maturities of fixed income securities | $ | 84,312 |
Recognized trust fund income (realized and unrealized) related to our preneed trust investments was $35.7 million and $43.8 million, for the three months ended June 30, 2022 and 2021, respectively. Recognized trust fund income (realized and unrealized) related to our cemetery perpetual care trust investments was $20.8 million and $27.0 million for the three months ended June 30, 2022 and 2021, respectively. Recognized trust fund income (realized and unrealized) related to our preneed trust investments was $81.5 million and $88.8 million, for the six months ended June 30, 2022 and 2021, respectively. Recognized trust fund income (realized and unrealized) related to our cemetery perpetual care trust investments was $45.3 million and $47.8 million for the six months ended June 30, 2022 and 2021, respectively. Deferred Revenue, Net Deferred revenue, net represents future revenue, including distributed trust investment earnings associated with unperformed trust-funded preneed contracts that are not held in trust accounts. Future revenue and net trust investment earnings that are held in trust accounts are included in Deferred receipts held in trust. The components of Deferred revenue, net in our unaudited Condensed Consolidated Balance Sheet were as follows:
| June 30, 2022 |  | December 31, 2021 |  |
| (In thousands)
Deferred revenue | $ | 2,386,552 |  |  | $ | 2,259,364 |  |  |
Amounts due from customers for unfulfilled performance obligations on cancelable preneed contracts | (803,158) |  |  | (726,615) |  |  |
Deferred revenue, net | $ | 1,583,394 |  |  | $ | 1,532,749 |  |  |
The following table summarizes the activity for our contract liabilities, which are reflected in Deferred revenue, net and Deferred receipts held in trust:
| Six months ended June 30,
| 2022 |  | 2021
| (In thousands)
Beginning balance — Deferred revenue, net and Deferred receipts held in trust | $ | 6,299,241 |  |  | $ | 5,761,291 |
Net preneed contract sales | 753,691 |  |  | 644,559 |
Acquisitions (dispositions) of businesses, net | 889 |  |  | (604) |
Net investment (losses) gains(1) | (692,181) |  |  | 312,837 |
Recognized revenue from backlog(2) | (301,448) |  |  | (270,817) |
Recognized revenue from current period sales | (312,274) |  |  | (285,596) |
Change in amounts due on unfulfilled performance obligations | (76,884) |  |  | (40,933) |
Change in cancellation reserve | (331) |  |  | (108) |
Effect of foreign currency and other | (1,652) |  |  | 8,170 |
Ending balance — Deferred revenue, net and Deferred receipts held in trust | $ | 5,669,051 |  |  | $ | 6,128,799 |
(1)Includes both realized and unrealized investment (losses) gains |
Deferred Preneed Funeral Revenues [Table Text Block] |  | The following table summarizes the activity for our contract liabilities, which are reflected in Deferred revenue, net and Deferred receipts held in trust:
| Six months ended June 30,
| 2022 |  | 2021
| (In thousands)
Beginning balance — Deferred revenue, net and Deferred receipts held in trust | $ | 6,299,241 |  |  | $ | 5,761,291 |
Net preneed contract sales | 753,691 |  |  | 644,559 |
Acquisitions (dispositions) of businesses, net | 889 |  |  | (604) |
Net investment (losses) gains(1) | (692,181) |  |  | 312,837 |
Recognized revenue from backlog(2) | (301,448) |  |  | (270,817) |
Recognized revenue from current period sales | (312,274) |  |  | (285,596) |
Change in amounts due on unfulfilled performance obligations | (76,884) |  |  | (40,933) |
Change in cancellation reserve | (331) |  |  | (108) |
Effect of foreign currency and other | (1,652) |  |  | 8,170 |
Ending balance — Deferred revenue, net and Deferred receipts held in trust | $ | 5,669,051 |  |  | $ | 6,128,799 |
(1)Includes both realized and unrealized investment (losses) gains |
Accounts Receivable, after Allowance for Credit Loss, Noncurrent |  | $ 1,326,506 | $ 1,243,781
Assets Held-in-trust |  | 5,547,990 | 6,536,851
Insurance-backed fixed income securities and other [Line Items] |  | 225,828 | 231,589
Cemetery perpetual care trust investments |  | $ (1,681,703) | $ (1,996,898)
Investments Classified by Contractual Maturity Date [Table Text Block] |  | Maturity dates of our fixed income securities range from 2022 to 2040. Maturities of fixed income securities (excluding mutual funds) at June 30, 2022 are estimated as follows:
| Fair Value
| (In thousands)
Due in one year or less | $ | 53,260 |
Due in one to five years | 25,888 |
Due in five to ten years | 4,963 |
Thereafter | 201 |
Total estimated maturities of fixed income securities | $ | 84,312 |

X
- Definition The aggregate fair value as of the balance sheet date of financial instruments and other positions may include: (1) mortgages, mortgage-backed and asset backed securities; (2) US government and agency obligations; (3) state and municipal government obligations; (4) other sovereign government debt; (5) corporate obligations; (6) corporate equities; (7) principal investments; (8) derivative contracts; and (9) physical commodities. Includes both pledged and unpledged holdings. + References No definition available. + Details
Name: | sci_CemeteryPerpetualCareTrustInvestments
Namespace Prefix: | sci_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. + References No definition available. + Details
Name: | sci_DeferredPreneedRevenuesTableTextBlock
Namespace Prefix: | sci_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Insurance-backed fixed income securities and other + References No definition available. + Details
Name: | sci_Insurancebackedfixedincomesecuritiesandother
Namespace Prefix: | sci_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition This table sets forth information regarding deposits,withdrawals, purchases and sales of securities, and realized gains and losses from those sales. + References No definition available. + Details
Name: | sci_InvestmentRelatedActivitiesTableTextBlock
Namespace Prefix: | sci_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of long-term receivables and investments, including trust investments, at market; cash and cash equivalents held by the trust; insurance policies held by the trust; and gross carrying value of long-term receivables from customers and unearned finance charges and cancellation allowance related to those receivables. + References No definition available. + Details
Name: | sci_LongTermReceivableAndInvestmentComponentsTableTextBlock
Namespace Prefix: | sci_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Preneed Activities. + References No definition available. + Details
Name: | sci_PreneedActivitiesAbstract
Namespace Prefix: | sci_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition This note represents disclosures relating to preneed activity and major accounts which also include: (1) fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments; (2) variable interest entities; and (3)all other required (as defined) and desired information. + References No definition available. + Details
Name: | sci_PreneedActivitiesTextBlock
Namespace Prefix: | sci_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the contract. The aggregate fair value as of the balance sheet date of financial instruments and other positions may include: (1) mortgages, mortgage-backed and asset backed securities; (2) US government and agency obligations; (3) state and municipal government obligations; (4) other sovereign government debt; (5) corporate obligations; (6) corporate equities; (7) principal investments; (8) derivative contracts; and (9) physical commodities. Includes both pledged and unpledged holdings. + References No definition available. + Details
Name: | sci_PreneedReceivablesNetandTrustInvestmentsTableTextBlock
Namespace Prefix: | sci_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as noncurrent. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(5)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(9)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124259787&loc=d3e4428-111522 + Details
Name: | us-gaap_AccountsReceivableNetNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The total amount of cash and securities held by third party trustees pursuant to terms of debt instruments or other agreements as of the date of each statement of financial position presented, which can be used by the trustee only to pay the noncurrent portion of specified obligations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(b)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_AssetsHeldInTrust
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration