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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 435 $ 3,286
Accounts receivable, net of allowance for bad debts of $1,071 in 2016 and $1,104 in 2017 17,015 18,860
Inventories 6,327 6,147
Prepaid expenses 1,096 2,640
Other current assets 594 2,034
Total current assets 25,467 32,967
Preneed cemetery trust investments 70,176 69,696
Preneed funeral trust investments 88,503 89,240
Preneed receivables, net of allowance for bad debts of $2,166 in 2016 and $2,215 in 2017 31,584 30,383
Receivables from preneed trusts 15,077 14,218
Property, plant and equipment, net of accumulated depreciation of $110,509 in 2016 and $110,782 in 2017 235,468 235,113
Cemetery property, net of accumulated amortization of $34,194 in 2016 and $35,764 in 2017 76,995 76,119
Goodwill 275,487 275,487
Intangible and other non-current assets 14,745 14,957
Cemetery perpetual care trust investments 47,539 46,889
Total assets 881,041 885,069
Current liabilities:    
Current portion of long-term debt and capital lease obligations 15,237 13,267
Accounts payable 6,446 10,198
Other liabilities 775 717
Accrued liabilities 14,312 20,091
Total current liabilities 36,770 44,273
Long-term debt, net of current portion 129,627 137,862
Revolving credit facility 61,081 66,542
Convertible subordinated notes due 2021 121,955 119,596
Obligations under capital leases, net of current portion 2,560 2,630
Deferred preneed cemetery revenue 55,093 54,631
Deferred preneed funeral revenue 34,756 33,198
Deferred tax liability 43,216 42,810
Other long-term liabilities 2,430 2,567
Deferred preneed cemetery receipts held in trust 70,176 69,696
Deferred preneed funeral receipts held in trust 88,503 89,240
Care trusts’ corpus 47,015 46,290
Total liabilities 693,182 709,335
Commitments and contingencies
Stockholders’ equity:    
Common stock, $.01 par value; 80,000,000 shares authorized and 22,490,855 and 22,569,361 shares issued at December 31, 2016 and June 30, 2017, respectively 226 225
Additional paid-in capital 215,694 215,064
Retained earnings 32,205 20,711
Treasury stock, at cost; 5,849,316 shares at December 31, 2016 and June 30, 2017 (60,266) (60,266)
Total stockholders’ equity 187,859 175,734
Total liabilities and stockholders’ equity $ 881,041 $ 885,069