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Acquisitions
 9 Months Ended
Sep. 30, 2013
Business Combinations [Abstract]  
ACQUISITIONS
ACQUISITIONS
Our growth strategy includes the execution of our Strategic Acquisition Model. We assess acquisition candidates using six strategic ranking criteria to differentiate the price we are willing to pay under a discounted cash flow methodology. Those criteria are:
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Size of business;
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Size of market;
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Competitive standing;
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Local market demographics;
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Strength of brand; and
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Barriers to entry.
During the third quarter of 2012, we completed one funeral home acquisition. We paid $6.0 million in cash as consideration for this acquisition. We acquired substantially all of the assets and assumed certain operating liabilities, including obligations associated with existing preneed contracts. The assets and liabilities were recorded at fair value and included goodwill of $5.2 million. Additionally, in the third quarter of 2012, we acquired two parcels of land for a total of $2.1 million to to be used for funeral home expansion projects. There have been no acquisitions during the third quarter of 2013. We acquired land for approximately $6.0 million during the first quarter of 2013 for funeral home expansion projects.