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Summary of Significant Accounting Policies Level 1 (Notes) | 6 Months Ended
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Jun. 30, 2024
Accounting Policies [Abstract] |
Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation Our unaudited condensed consolidated financial statements include the accounts of Service Corporation International and all subsidiaries in which we hold a controlling financial interest. Intercompany balances and transactions have been eliminated in consolidation. Our unaudited condensed consolidated financial statements also include the accounts of the merchandise and service trusts and cemetery perpetual care trusts in which we have a variable interest and are the primary beneficiary. We have retained the specialized industry accounting principles when consolidating the trusts. Although we consolidate the trusts, it does not change the legal relationships among the trusts, us, or our customers. The customers are the legal beneficiaries of these trusts; therefore, their interests in these trusts represent a liability to us. Our interim condensed consolidated financial statements are unaudited but include all adjustments, consisting of normal recurring accruals and any other adjustments, which management considers necessary for a fair statement of our results for these periods. Our unaudited condensed consolidated financial statements have been prepared in a manner consistent with the accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2023, unless otherwise disclosed herein, and should be read in conjunction therewith. The accompanying year-end Condensed Consolidated Balance Sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year period. Certain reclassifications have been made to prior period amounts to conform to the current period disclosure presentation with no effect on our consolidated net income or cash flows. Use of Estimates in the Preparation of Financial Statements The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. As a result, actual results could differ from these estimates. Cash, Cash Equivalents, and Restricted Cash We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. The carrying amounts of our cash and cash equivalents approximate fair value due to the short-term nature of these instruments. The components of cash, cash equivalents, and restricted cash were as follows:
| June 30, 2024 |  | December 31, 2023
| (In thousands)
Cash and cash equivalents | $ | 184,431 |  |  | $ | 221,557 |
Restricted cash (1) |  |  |
Included in Other current assets | 846 |  |  | 370 |
Included in Deferred charges and other assets, net | 2,831 |  |  | 2,834 |
Total restricted cash | 3,677 |  |  | 3,204 |
Total cash, cash equivalents, and restricted cash | $ | 188,108 |  |  | $ | 224,761 |
(1) Restricted cash in both periods primarily consists of proceeds from divestitures deposited into escrow accounts under IRS code section 1031 and collateralized obligations under certain insurance policies. Receivables, net The components of Receivables, net in our unaudited Condensed Consolidated Balance Sheet were as follows:
| June 30, 2024
| Atneed Funeral |  | Atneed Cemetery |  | Miscellaneous |  | Current Portion of Notes |  | Total
| (In thousands)
Receivables | $ | 27,228 |  |  | $ | 18,275 |  |  | $ | 45,539 |  |  | $ | 199 |  |  | $ | 91,241 |
Reserve for credit losses | (1,461) |  |  | (2,107) |  |  | (486) |  |  | (114) |  |  | (4,168) |
Receivables, net | $ | 25,767 |  |  | $ | 16,168 |  |  | $ | 45,053 |  |  | $ | 85 |  |  | $ | 87,073 |
| December 31, 2023
| Atneed Funeral |  | Atneed Cemetery |  | Miscellaneous |  | Current Portion of Notes |  | Total
| (In thousands)
Receivables | $ | 35,572 |  |  | $ | 19,277 |  |  | $ | 47,297 |  |  | $ | 175 |  |  | $ | 102,321 |
Reserve for credit losses | (1,784) |  |  | (2,118) |  |  | (343) |  |  | (137) |  |  | (4,382) |
Receivables, net | $ | 33,788 |  |  | $ | 17,159 |  |  | $ | 46,954 |  |  | $ | 38 |  |  | $ | 97,939 |
Additionally, included in Deferred charges and other assets, net were long-term miscellaneous receivables, net and notes receivable, net as follows:
| June 30, 2024 |  | December 31, 2023
| (In thousands)
Notes receivable | $ | 11,329 |  |  | $ | 10,294 |
Reserve for credit losses | (1,796) |  |  | (1,797) |
Notes receivable, net | $ | 9,533 |  |  | $ | 8,497 |
Long-term miscellaneous receivables | $ | 8,652 |  |  | $ | 7,888 |
Reserve for credit losses | (599) |  |  | (548) |
Long-term miscellaneous receivables, net | $ | 8,053 |  |  | $ | 7,340 |
The following table summarizes the activity in our reserve for credit losses by portfolio segment, excluding preneed receivables which are presented in Note 3, for the six months ended June 30, 2024:
| December 31, 2023 |  | (Provision) Benefit for Expected Credit Losses |  |  |  | Write Offs |  | Recoveries |  | Effect of Foreign Currency and Other |  | June 30, 2024
| (In thousands)
Trade receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
Funeral | $ | (1,784) |  |  | $ | (2,018) |  |  |  |  | $ | 3,268 |  |  | $ | (1,004) |  |  | $ | 77 |  |  | $ | (1,461) |
Cemetery | (2,118) |  |  | (366) |  |  |  |  | 703 |  |  | (326) |  |  | — |  |  | (2,107) |
Total reserve for credit losses on trade receivables | $ | (3,902) |  |  | $ | (2,384) |  |  |  |  | $ | 3,971 |  |  | $ | (1,330) |  |  | $ | 77 |  |  | $ | (3,568) |
Miscellaneous receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
Current | $ | (343) |  |  | $ | (143) |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (486) |
Long-term | (548) |  |  | (51) |  |  |  |  | — |  |  | — |  |  | — |  |  | (599) |
Total reserve for credit losses on miscellaneous receivables | $ | (891) |  |  | $ | (194) |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,085) |
Notes receivable | $ | (1,934) |  |  | $ | 22 |  |  |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | (1,910) |
At June 30, 2024, the amortized cost basis of our miscellaneous and notes receivables by year of origination was as follows:
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving Line of Credit |  | Total
| (In thousands)
Miscellaneous receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | $ | 41,405 |  |  | $ | 2,851 |  |  | $ | 761 |  |  | $ | 466 |  |  | $ | 27 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 45,539 |
Long-term | 2,364 |  |  | 3,230 |  |  | 1,860 |  |  | 953 |  |  | 118 |  |  | 127 |  |  | — |  |  | 8,652 |
Total miscellaneous receivables | $ | 43,769 |  |  | $ | 6,081 |  |  | $ | 2,621 |  |  | $ | 1,419 |  |  | $ | 145 |  |  | $ | 156 |  |  | $ | — |  |  | $ | 54,191 |
Notes receivable | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,598 |  |  | $ | 6,930 |  |  | $ | 11,528 |
At June 30, 2024, the payment status of our miscellaneous and notes receivables was as follows:
| Past Due |  |  |  |
| <30 Days |  | 30-90 Days |  | 90-180 Days |  | >180 Days |  | Total |  | Current |  | Total
| (In thousands)
Miscellaneous receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
Current | $ | — |  |  | $ | 36 |  |  | $ | 28 |  |  | $ | 2,681 |  |  | $ | 2,745 |  |  | $ | 42,794 |  |  | $ | 45,539 |
Long-term | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,652 |  |  | 8,652 |
Total miscellaneous receivables | $ | — |  |  | $ | 36 |  |  | $ | 28 |  |  | $ | 2,681 |  |  | $ | 2,745 |  |  | $ | 51,446 |  |  | $ | 54,191 |
Notes receivable | $ | — |  |  | $ | 32 |  |  | $ | — |  |  | $ | 1,116 |  |  | $ | 1,148 |  |  | $ | 10,380 |  |  | $ | 11,528 |
Recently Issued Accounting Standards Segments In November 2023, the FASB amended the reportable segment guidance by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. This new guidance also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The guidance is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 with early adoption permitted. This amendment is effective for our fiscal year ending December 31, 2024. We are currently assessing the impact of this guidance on our disclosures. Upon adoption, we will include the additional disclosures in our financial statements and related notes. Income Tax In December 2023, the FASB amended guidance that requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The new guidance is effective on a prospective basis for annual periods beginning after December 15, 2024 and early adoption is also permitted. We are currently assessing the impact of this guidance on our disclosures. Upon adoption, we will include the additional disclosures in our financial statements and related notes.

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