XML 57 R41.htm IDEA: XBRL DOCUMENT v3.3.1.900
Cemetery Perpetual Care Trust Investments (Tables)
 12 Months Ended
Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]  
Components of Care Trusts' Corpus
The components of Care trusts’ corpus as of December 31, 2014 and 2015 were as follows (in thousands): 
 
December 31, 2014

 
December 31, 2015

Trust assets, at market value
$
48,670

 
$
43,127

Obligations due from trust
(528
)
 
(711
)
Care trusts’ corpus
$
48,142

 
$
42,416
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 December 31, 2015 (in thousands):
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market Value
Cash and money market accounts
1
 
$
5,472

 
$
—

 
$
—

 
$
5,472

Fixed income securities:
 
 
 
 
 
 
 
 
 
Municipal bonds
2
 
325

 
—

 
(45
)
 
280

Foreign debt
2
 
3,232

 
—

 
(480
)
 
2,752

Corporate debt
2
 
16,216

 
57

 
(3,094
)
 
13,179

Preferred stock
2
 
11,263

 
20

 
(611
)
 
10,672

Common stock
1
 
11,945

 
393

 
(1,939
)
 
10,399

Trust securities
 
 
$
48,453

 
$
470

 
$
(6,169
)
 
$
42,754

Accrued investment income
 
 
$
373

 
 
 
 
 
$
373

Cemetery perpetual care investments
 
 
 
 
 
 
 
 
$
43,127

Market value as a percentage of cost
 
 
 
 
 
 
 
 
88.2
%
The following table reflects the cost and market values associated with the trust investments held in perpetual care trust funds at December 31, 2014 (in thousands): 
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market Value
Cash and money market accounts
1
 
$
3,206

 
$
—

 
$
—

 
$
3,206

Fixed income securities:
 
 
 
 
 
 
 
 
 
Municipal bonds
2
 
229

 
5

 
—

 
234

Foreign debt
2
 
3,871

 
—

 
(156
)
 
3,715

Corporate debt
2
 
19,911

 
248

 
(1,428
)
 
18,731

Preferred stock
2
 
12,694

 
137

 
(214
)
 
12,617

Common stock
1
 
8,747

 
1,568

 
(653
)
 
9,662

Trust securities
 
 
$
48,658

 
$
1,958

 
$
(2,451
)
 
$
48,165

Accrued investment income
 
 
$
505

 
 
 
 
 
$
505

Cemetery perpetual care investments
 
 
 
 
 
 
 
 
$
48,670

Market value as a percentage of cost
 
 
 
 
 
 
 
 
99.0
%
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
$
79

Due in one to five years
3,391

Due in five to ten years
1,690

Thereafter
21,723

Total fixed income securities
$
26,883
Perpetual care trust investment security transactions recorded in interest income and other, net
Perpetual care trust investment security transactions recorded in Interest expense on our Consolidated Statements of Operations for the years ended December 31, 2013, 2014 and 2015 were as follows (in thousands):
 
Year ended December 31,
 
2013
 
2014
 
2015
Realized gains
$
2,172

 
$
3,468

 
$
1,773

Realized losses
(542
)
 
(1,748
)
 
(2,431
)
Decrease (increase) in Care trusts’ corpus
(1,630
)
 
(1,720
)
 
658

Total
$
—

 
$
—

 
$
—
Perpetual care trust investment security transactions recorded in cemetery revenue
Perpetual care trust investment security transactions recorded in Cemetery revenue for the years ended December 31, 2013, 2014 and 2015 were as follows (in thousands):
 
Year ended December 31,
 
2013
 
2014
 
2015
Investment income
$
4,063

 
$
4,713

 
$
5,315

Realized gains, net
1,511

 
1,112

 
436

Total
$
5,574

 
$
5,825

 
$
5,751
Purchases and sales of investments in perpetual care trusts
Purchases and sales of investments in the perpetual care trusts were as follows (in thousands):
 
Year ended December 31,
 
2013
 
2014
 
2015
Purchases
$
(27,719
)
 
$
(38,413
)
 
$
(16,694
)
Sales
28,261

 
35,402

 
14,710
Perpetual Care Trust Invesments  
Schedule of Available-for-sale Securities [Line Items]  
Schedule of unrealized loss position, fair value
Our perpetual care trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses for the years ended December 31, 2015 and 2014, are shown in the following tables (in thousands):
 
December 31, 2015
 
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:
 
 
 
 
 
 
 
 
 
 
 
Municipal bonds
$
280

 
$
(45
)
 
$
—

 
$
—

 
$
280

 
$
(45
)
Foreign debt
2,541

 
(265
)
 
281

 
(215
)
 
2,822

 
(480
)
Corporate debt
10,463

 
(2,164
)
 
2,210

 
(931
)
 
12,673

 
(3,095
)
Preferred stock
7,100

 
(301
)
 
3,568

 
(309
)
 
10,668

 
(610
)
Common stock
7,379

 
(1,220
)
 
2,186

 
(719
)
 
9,565

 
(1,939
)
Total temporary impaired securities
$
27,763

 
$
(3,995
)
 
$
8,245

 
$
(2,174
)
 
$
36,008

 
$
(6,169
)
 
December 31, 2014
 
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
$
3,716

 
$
(156
)
 
$
—

 
$
—

 
$
3,716

 
$
(156
)
Corporate debt
11,893

 
(513
)
 
1,328

 
(915
)
 
13,221

 
(1,428
)
Preferred stock
6,821

 
(191
)
 
2,133

 
(23
)
 
8,954

 
(214
)
Common stock
4,663

 
(616
)
 
44

 
(37
)
 
4,707

 
(653
)
Total temporary impaired securities
$
27,093

 
$
(1,476
)
 
$
3,505

 
$
(975
)
 
$
30,598

 
$
(2,451
)