Cemetery Perpetual Care Trust Investments (Tables)

9 Months Ended

Sep. 30, 2016

Cemetery Perpetual Care Trust Investments [Abstract]

The components of Care trusts’ corpus as of December 31, 2015 and September 30, 2016 were as follows (in thousands):



	December 31, 2015			September 30, 2016
Trust assets, at market value	$	43,127		$	45,048
Obligations due from trust	(711		)	(703		)
Care trusts’ corpus	$	42,416		$	44,345

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 September 30, 2016 (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	4,656	$	—	$	—		$	4,656
Fixed income securities:
Municipal bonds	2	368		—		—			368
Foreign debt	2	5,772		175		(497		)	5,450
Corporate debt	2	15,927		1,099		(1,059		)	15,967
Preferred stock	2	11,465		18		(493		)	10,990
Mortgage backed securities	2	149		—		(10		)	139
Common stock	1	7,507		344		(1,950		)	5,901
Mutual funds:
Fixed Income	2	867		90		—			957
Trust securities		$	46,711	$	1,726	$	(4,009	)	$	44,428
Accrued investment income		$	620						$	620
Cemetery perpetual care investments									$	45,048
Market value as a percentage of cost									95.1		%

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	$	183
Due in one to five years	5,053
Due in five to ten years	4,145
Thereafter	23,533
	$	32,914

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, 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		%

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 periods ended September 30, 2016 and December 31, 2015 are shown in the following tables (in thousands):



	September 30, 2016
	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	1,632		(91		)	1,990		(406		)	3,622		(497		)
Corporate debt	4,948		(148		)	3,529		(911		)	8,477		(1,059		)
Preferred stock	1,126		(8		)	8,537		(485		)	9,663		(493		)
Mortgage backed securities	140		(10		)	—		—			140		(10		)
Common stock	2,932		(872		)	1,561		(1,078		)	4,493		(1,950		)
Total temporary impaired securities	$	10,778	$	(1,129	)	$	15,617	$	(2,880	)	$	26,395	$	(4,009	)



	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	)

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 three and nine months ended September 30, 2015 and 2016 were as follows (in thousands):



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2015			2016			2015			2016
Realized gains	$	731		$	44		$	1,706		$	156
Realized losses	(207		)	(261		)	(692		)	(1,943		)
Decrease (increase) in care trusts’ corpus	(524		)	217			(1,014		)	1,787
Total	$	—		$	—		$	—		$	—

Perpetual care trust investment security transactions recorded in cemetery revenue

Perpetual care trust investment security transactions recorded in Revenues: Cemetery for the three and nine months ended September 30, 2015 and 2016 were as follows (in thousands):



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2015		2016		2015		2016
Investment income	$	1,371	$	1,523	$	3,739	$	4,503
Realized gain, net	213		14		497		(444		)
Total	$	1,584	$	1,537	$	4,236	$	4,059

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 September 30,						For the Nine Months Ended September 30,
	2015			2016			2015			2016
Purchases	$	(7,247	)	$	(936	)	$	(15,352	)	$	(12,888	)
Sales	$	2,532		$	3,832		$	8,885		$	11,702