Preneed Trust Investments (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Available-for-sale Securities [Line Items]

Components of Preneed Cemetery Trust Investments

The components of Preneed cemetery trust investments in our Consolidated Balance Sheets at December 31, 2012 and 2013 are as follows (in thousands):



	December 31, 2012			December 31, 2013
Preneed cemetery trust investments, at market value	$	73,126		$	70,386
Less: allowance for contract cancellation	(2,166		)	(2,045		)
Preneed cemetery trust investments, net	$	70,960		$	68,341

Cost and fair market values associated with preneed cemetery trust investments

The cost and market values associated with preneed cemetery trust investments at December 31, 2012 are detailed below(in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	758	$	—	$	—		$	758
Fixed income securities:
Foreign debt	2	2,008		450		—			2,458
Corporate debt	2	38,299		863		(507		)	38,655
Preferred stock	2	22,362		824		(294		)	22,892
Mortgage backed securities	2	1		—		—			1
Common stock	1	8,759		34		(1,526		)	7,267
Trust securities		$	72,187	$	2,171	$	(2,327	)	$	72,031
Accrued investment income		$	1,095						$	1,095
Preneed cemetery trust investments									$	73,126
Market value as a percentage of cost									99.8		%

The cost and fair market values associated with preneed cemetery trust investments at December 31, 2013 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	1,541	$	—	$	—		$	1,541
Fixed income securities:
Foreign debt	2	3,460		146		(3		)	3,603
Corporate debt	2	32,958		386		(1,150		)	32,194
Preferred stock	2	17,754		178		(273		)	17,659
Mortgage backed securities	2	1		—		—			1
Common stock	1	12,431		2,362		(267		)	14,526
Trust securities		$	68,145	$	3,072	$	(1,693	)	$	69,524
Accrued investment income		$	862						$	862
Preneed cemetery trust investments									$	70,386
Market value as a percentage of cost									102.0		%

Estimated maturities of fixed preneed cemetery 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	8,518
Due in five to ten years	11,686
Thereafter	33,253
Total fixed income securities	$	53,457

Preneed cemetery trust investment security transactions

Preneed cemetery trust investment security transactions recorded in Interest expense, net of other income in the Consolidated Statements of Operations for the years ended December 31, 2011, 2012 and 2013 were as follows (in thousands):



	Year ended December 31,
	2011			2012			2013
Investment income	$	3,471		$	4,038		$	3,349
Realized gains	14,041			10,497			3,018
Realized losses	(4,453		)	(3,574		)	(763		)
Expenses and taxes	(1,239		)	(2,769		)	(2,934		)
Decrease in deferred preneed cemetery receipts held in trust	(11,820		)	(8,192		)	(2,670		)
	$	—		$	—		$	—

Purchases and sales of investments in preneed cemetary trusts

Purchases and sales of investments in the preneed cemetery trusts were as follows (in thousands):



	Year ended December 31,
	2011			2012			2013
Purchases	$	(111,550	)	$	(126,043	)	$	(46,558	)
Sales	121,217			125,897			47,318

Components of preneed funeral trust investments

The components of Preneed funeral trust investments on our Consolidated Balance Sheets at December 31, 2012 and 2013 were as follows (in thousands):



	December 31, 2012			December 31, 2013
Preneed funeral trust investments, at market value	$	85,415		$	100,005
Less: allowance for contract cancellation	(2,519		)	(2,861		)
Preneed funeral trust investments, net	$	82,896		$	97,144

Cost and fair market values associated with preneed funeral trust investments

The cost and fair market values associated with preneed funeral trust investments at December 31, 2013 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	14,631	$	—	$	—		$	14,631
Fixed income securities:
U.S. treasury debt	1	2,212		47		(54		)	2,205
U.S. agency obligations	1	401		8		(7		)	402
Foreign debt	2	2,726		115		(2		)	2,839
Corporate debt	2	27,993		375		(957		)	27,411
Preferred stock	2	15,949		292		(282		)	15,959
Mortgage backed securities	2	1		—		—			1
Common stock	1	10,681		2,092		(237		)	12,536
Mutual funds:
Equity	1	11,632		2,708		(22		)	14,318
Fixed income	2	5,455		88		(179		)	5,364
Other investments	2	3,686		—		(26		)	3,660
Trust securities		$	95,367	$	5,725	$	(1,766	)	$	99,326
Accrued investment income		$	679						$	679
Preneed funeral trust investments									$	100,005
Market value as a percentage of cost									104.2		%

The cost and market values associated with preneed funeral trust investments at December 31, 2012 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	13,448	$	—	$	—		$	13,448
Fixed income securities:
U.S. treasury debt	1	3,001		75		—			3,076
U.S. agency obligations	1	142		4		—			146
Foreign debt	2	1,217		273		—			1,490
Corporate debt	2	25,060		661		(331		)	25,390
Preferred stock	2	15,228		715		(193		)	15,750
Common stock	1	5,770		27		(996		)	4,801
Mutual funds:
Equity	1	11,843		487		(78		)	12,252
Fixed income	2	6,105		181		(40		)	6,246
Other investments	2	2,143		—		(15		)	2,128
Trust securities		$	83,957	$	2,423	$	(1,653	)	$	84,727
Accrued investment income		$	688						$	688
Preneed funeral trust investments									$	85,415
Market value as a percentage of cost									100.9		%

Estimated maturities of fixed preneed funeral trust income securities

The estimated maturities of the fixed income securities included above are as follows (in thousands):



Due in one year or less	$	681
Due in one to five years	7,953
Due in five to ten years	10,501
Thereafter	29,682
Total fixed income securities	$	48,817

Preneed funereal trust investment security transactions

Preneed funeral trust investment security transactions recorded in Interest expenses, net of other income in the Consolidated Statements of Operations for the years ended December 31, 2011, 2012 and 2013 were as follows (in thousands):



	Year ended December 31,
	2011			2012			2013
Investment income	$	2,934		$	3,952		$	3,190
Realized gains	10,772			4,406			7,957
Realized losses	(3,223		)	(2,536		)	(5,743		)
Expenses and taxes	(1,224		)	(1,550		)	(1,669		)
Decrease in deferred preneed funeral receipts held in trust	(9,259		)	(4,272		)	(3,735		)
	$	—		$	—		$	—

Purchases and sales of investments in preneed funeral trusts

Purchases and sales of investments in the preneed funeral trusts were as follows (in thousands):



	Year ended December 31,
	2011			2012			2013
Purchases	$	(89,969	)	$	(72,424	)	$	(38,592	)
Sales	86,846			72,639			39,853

Preneed Cemetery Trust Investments

Schedule of Available-for-sale Securities [Line Items]

Schedule of unrealized loss position, fair value

Our cemetery merchandise and service trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses for the years ended December 31, 2013 and 2012, are shown in the following tables (in thousands):



	December 31, 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	802		(3		)	—		—			802		(3		)
Corporate debt	$	11,561	$	(553	)	$	769	$	(597	)	$	12,330	$	(1,150	)
Preferred stock	9,601		(273		)	—		—			9,601		(273		)
Common stock	1,077		(171		)	705		(96		)	1,782		(267		)
Total temporary impaired securities	$	23,041	$	(1,000	)	$	1,474	$	(693	)	$	24,515	$	(1,693	)



	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	$	11,363	$	(325	)	$	622	$	(182	)	$	11,985	$	(507	)
Preferred stock	1,040		(54		)	2,284		(240		)	3,324		(294		)
Common stock	5,088		(934		)	957		(592		)	6,045		(1,526		)
Total temporary impaired securities	$	17,491	$	(1,313	)	$	3,863	$	(1,014	)	$	21,354	$	(2,327	)

Preneed Funeral Trust Investments

Schedule of Available-for-sale Securities [Line Items]

Schedule of unrealized loss position, fair value

Our preneed funeral trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses for the years ended December 31, 2013 and 2012, are shown in the following tables (in thousands):



	December 31, 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:
U.S. debt	—		—			816		(54		)	816		(54		)
U.S. agency obligations	—		—			211		(7		)	211		(7		)
Foreign debt	632		(2		)	—		—			632		(2		)
Corporate debt	9,620		(460		)	640		(497		)	10,260		(957		)
Preferred stock	9,918		(282		)	—		—			9,918		(282		)
Mutual funds:
Equity	954		(152		)	626		(85		)	1,580		(237		)
Equity and other	314		(13		)	195		(9		)	509		(22		)
Fixed income	865		(43		)	1,420		(136		)	2,285		(179		)
Other investments	—		—			44		(26		)	44		(26		)
Total temporary impaired securities	$	22,303	$	(952	)	$	3,952	$	(814	)	$	26,255	$	(1,766	)



	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	$	7,419	$	(212	)	$	406	$	(119	)	$	7,825	$	(331	)
Preferred stock	685		(35		)	1,504		(158		)	2,189		(193		)
Common stock	3,323		(609		)	625		(387		)	3,948		(996		)
Mutual funds:
Equity	1,613		(25		)	632		(53		)	2,245		(78		)
Fixed income	3,085		(40		)	—		—			3,085		(40		)
Other investments	—		—			30		(15		)	30		(15		)
Total temporary impaired securities	$	16,125	$	(921	)	$	3,197	$	(732	)	$	19,322	$	(1,653	)