XML 83 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8
Cemetery Perpetual Care Trust Investments (Tables)
 6 Months Ended
Jun. 30, 2013
Cemetery Perpetual Care Trust Investments [Abstract]  
Components of care trusts' corpus
The components of Care trusts’ corpus as of December 31, 2012 and June 30, 2013 are as follows (in thousands):
 
December 31, 2012
 
June 30, 2013
Trust assets, at fair value
$
46,542

 
$
39,485

Pending withdrawals of income
(659
)
 
(464
)
Pending deposits
37

 
112

Care trusts’ corpus
$
45,920

 
$
39,133
Cost and fair market values associated with the trust investments held in perpetual care trust funds
The following table reflects the cost and fair market values associated with the trust investments held in perpetual care trust funds at June 30, 2013 (in thousands):
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
Cash and money market accounts
1
 
$
4,025

 
$
—

 
$
—

 
$
4,025

Fixed income securities:
 
 
 
 
 
 
 
 
 
Foreign debt
2
 
1,451

 
40

 
(41
)
 
1,450

Corporate debt
2
 
18,961

 
391

 
(549
)
 
18,803

Preferred stock
2
 
9,818

 
169

 
(22
)
 
9,965

Mortgage backed securities
2
 
—

 
—

 
—

 
—

Common stock
1
 
4,672

 
439

 
(376
)
 
4,735

Trust securities

 
$
38,927

 
$
1,039

 
$
(988
)
 
$
38,978

Accrued investment income
 
 
$
507

 
 
 
 
 
$
507

Cemetery perpetual care trust investments
 
 
 
 
 
 
 
 
$
39,485

Fair market value as a percentage of cost
 
 
 
 
 
 
 
 
100.1
%
Estimated maturities of fixed perpetual care trust income securities
The estimated maturities of the fixed income securities included above are as follows (in thousands):
Due in one year or less
$
—

Due in one to five years
4,877

Due in five to ten years
8,146

Thereafter
17,195

 
$
30,218
Cost and fair Market Values Associated with Trust Investments Held in Perpetual Care Trust Funds [Table Text Block]
The following table reflects the cost and fair market values associated with the trust investments held in perpetual care trust funds at December 31, 2012 (in thousands):
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
Cash and money market accounts
1
 
$
545

 
$
—

 
$
—

 
$
545

Fixed income securities:
 
 
 
 
 
 
 
 
 
Foreign debt
2
 
1,267

 
284

 
—

 
1,551

Corporate debt
2
 
24,324

 
556

 
(323
)
 
24,557

Preferred stock
2
 
14,225

 
525

 
(187
)
 
14,563

Mortgage backed securities
2
 
1

 
—

 
—

 
1

Common stock
1
 
5,563

 
22

 
(969
)
 
4,616

Trust securities

 
$
45,925

 
$
1,387

 
$
(1,479
)
 
$
45,833

Accrued investment income
 
 
$
709

 
 
 
 
 
$
709

Cemetery perpetual care investments
 
 
 
 
 
 
 
 
$
46,542

Market value as a percentage of cost
 
 
 
 
 
 
 
 
99.8
%
Schedule of fair market value and unrealized loss on perteptual care trust investments
Our perpetual care trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses for the period as of June 30, 2013 and December 31, 2012, respectively, are shown in the following tables (in thousands):
 
June 30, 2013
 
In Loss Position Less than 12 months
 
In Loss Position Greater than 12 months
 
Total
 
Fair market value
 
Unrealized Losses
 
Fair market value
 
Unrealized Losses
 
Fair market value
 
Unrealized Losses
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Foreign debt
$
1,013

 
$
(41
)
 
$
—

 
$
—

 
$
1,013

 
$
(41
)
Corporate debt
8,616

 
(306
)
 
578

 
(244
)
 
9,194

 
(550
)
Preferred stock
2,097

 
(21
)
 
—

 
—

 
2,097

 
(21
)
Common stock
1,177

 
(234
)
 
438

 
(142
)
 
1,615

 
(376
)
Total temporary impaired securities
$
12,903

 
$
(602
)
 
$
1,016

 
$
(386
)
 
$
13,919

 
$
(988
)
 
December 31, 2012
 
In Loss Position Less than 12 months
 
In Loss Position Greater than 12 months
 
Total
 
Fair market value
 
Unrealized Losses
 
Fair market value
 
Unrealized Losses
 
Fair market value
 
Unrealized Losses
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Corporate debt
$
7,236

 
$
(207
)
 
$
396

 
$
(116
)
 
$
7,632

 
$
(323
)
Preferred stock
664

 
(34
)
 
1,459

 
(153
)
 
2,123

 
(187
)
Common stock
3,231

 
(593
)
 
608

 
(376
)
 
3,839

 
(969
)
Total temporary impaired securities
$
11,131

 
$
(834
)
 
$
2,463

 
$
(645
)
 
$
13,594

 
$
(1,479
)
Perpetual care trust investment security transactions recorded in interest income and other, net

Perpetual care trust investment security transactions recorded in Interest expense, net of other income in the Consolidated Statements of Operations for the three and six months ended June 30, 2012 and 2013 are as follows (in thousands):

For the Three Months Ended June 30,
 
For the Six Months Ended June 30,

2012
 
2013
 
2012
 
2013
Undistributable realized gains
$
1,269

 
$
1,063

 
$
2,400

 
$
1,087

Undistributable realized losses
(1,027
)
 
(103
)
 
(1,079
)
 
(398
)
Decrease in care trusts’ corpus
(242
)
 
(960
)
 
(1,321
)
 
(689
)
 
$
—

 
$
—

 
$
—

 
$
—
Perpetual care trust investment security transactions recorded in cemetery revenue
Perpetual care trust investment security transactions recorded in Cemetery revenue for the three and six months ended June 30, 2012 and 2013 are as follows (in thousands):

For the Three Months Ended June 30,
 
For the Six Months Ended June 30,

2012
 
2013
 
2012
 
2013
Interest and dividends
$
1,152

 
$
1,234

 
$
2,303

 
$
2,469

Realized gains
300

 
600

 
300

 
1,161

Expenses
—

 
(266
)
 
—

 
(478
)
Total
$
1,452

 
$
1,568

 
$
2,603

 
$
3,152
Purchases and sales of investments in perpetual care trusts
Purchases and sales of investments in the perpetual care trusts were as follows (in thousands):

For the Three Months Ended June 30,
 
For the Six Months Ended June 30,

2012
 
2013
 
2012
 
2013
Purchases
$
(21,520
)
 
$
(7,252
)
 
$
(37,737
)
 
$
(9,838
)
Sales
21,644

 
8,674

 
38,265

 
11,795