Preneed Trust Investments (Tables)

12 Months Ended

Dec. 31, 2017

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

Components of Preneed Cemetery Trust Investments

The components of Preneed cemetery trust investments on our Consolidated Balance Sheets at December 31, 2016 and 2017 were as follows (in thousands):



	December 31, 2016			December 31, 2017
Preneed cemetery trust investments, at market value	$	71,834		$	75,992
Less: allowance for contract cancellation	(2,138		)	(2,139		)
Preneed cemetery trust investments, net	$	69,696		$	73,853

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, 2016 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	10,852	$	—	$	—		$	10,852
Fixed income securities:
Municipal bonds	2	496		18		(4		)	$	510
Foreign debt	2	7,574		160		(656		)	7,078
Corporate debt	2	20,621		1,569		(1,123		)	21,067
Preferred stock	2	16,287		8		(947		)	15,348
Mortgage-backed securities	2	949		372		(4		)	1,317
Common stock	1	13,250		2,191		(1,838		)	13,603
Mutual funds:
Fixed Income	2	1,223		107		—			1,330
Trust Securities		$	71,252	$	4,425	$	(4,572	)	$	71,105
Accrued investment income		$	729						$	729
Preneed cemetery trust investments									$	71,834
Market value as a percentage of cost									99.8		%

The cost and fair market values associated with preneed cemetery trust investments at December 31, 2017 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	3,132	$	—	$	—		$	3,132
Fixed income securities:
Foreign debt	2	4,834		292		(193		)	4,933
Corporate debt	2	18,238		1,184		(273		)	19,149
Preferred stock	2	16,421		510		(588		)	16,343
Mortgage-backed securities	2	1,018		249		(24		)	1,243
Common stock	1	26,465		5,250		(2,460		)	29,255
Mutual funds:
Fixed Income	2	$	1,198	50		(11		)	$	1,237
Trust securities		$	71,306	$	7,535	$	(3,549	)	$	75,292
Accrued investment income		$	700						$	700
Preneed cemetery trust investments									$	75,992
Market value as a percentage of cost									105.6		%

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	$	303
Due in one to five years	2,183
Due in five to ten years	5,376
Thereafter	33,806
Total fixed income securities	$	41,668

Preneed cemetery trust investment security transactions

Preneed cemetery trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations for the years ended December 31, 2015, 2016 and 2017 were as follows (in thousands):



	Year ended December 31,
	2015			2016			2017
Investment income	$	2,562		$	2,250		$	2,250
Realized gains	2,952			2,141			2,218
Realized losses	(3,671		)	(6,559		)	(2,384		)
Expenses and taxes	(1,790		)	(1,266		)	(1,308		)
Decrease (increase) in deferred preneed cemetery receipts held in trust	(53		)	3,434			(776		)
	$	—		$	—		$	—

Purchases and sales of investments in preneed cemetary trusts

Purchases and sales of investments in the preneed cemetery trusts for the years ended December 31, 2015, 2016 and 2017 were as follows (in thousands):



	Year ended December 31,
	2015			2016			2017
Purchases	$	(26,757	)	$	(25,643	)	$	(21,966	)
Sales	23,141			25,846			14,002

Components of preneed funeral trust investments

The components of Preneed funeral trust investments on our Consolidated Balance Sheets at December 31, 2016 and 2017 were as follows (in thousands):



	December 31, 2016			December 31, 2017
Preneed funeral trust investments, at market value	$	91,980		$	93,341
Less: allowance for contract cancellation	(2,740		)	(2,659		)
Preneed funeral trust investments, net	$	89,240		$	90,682

Cost and fair market values associated with preneed funeral trust investments

The cost and market values associated with preneed funeral trust investments at December 31, 2016 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	22,787	$	—	$	—		$	22,787
Fixed income securities:
U.S. treasury debt	1	1,491		21		(10		)	1,502
Municipal bonds	2	447		17		(4		)	460
Foreign debt	2	7,692		170		(677		)	7,185
Corporate debt	2	21,454		1,566		(1,134		)	21,886
Preferred stock	2	17,037		64		(970		)	16,131
Mortgage-backed securities	2	1,165		400		(5		)	1,560
Common stock	1	13,675		2,256		(1,850		)	14,081
Mutual funds:
Fixed income	2	2,124		115		(66		)	2,173
Other investments	2	3,463		—		—			3,463
Trust securities		$	91,335	$	4,609	$	(4,716	)	$	91,228
Accrued investment income		$	752						$	752
Preneed funeral trust investments									$	91,980
Market value as a percentage of cost									99.9		%

The cost and fair market values associated with preneed funeral trust investments at December 31, 2017 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	14,349	$	—	$	—		$	14,349
Fixed income securities:
U.S. treasury debt	1	1,490		10		(15		)	1,485
Foreign debt	2	4,870		298		(189		)	4,979
Corporate debt	2	18,963		1,197		(278		)	19,882
Preferred stock	2	16,335		501		(585		)	16,251
Mortgage-backed securities	2	1,187		263		(27		)	1,423
Common stock	1	26,129		5,253		(2,468		)	28,914
Mutual funds:
Fixed income	2	1,974		52		(48		)	1,978
Other investments	2	3,341		—		—			3,341
Trust securities		$	88,638	$	7,574	$	(3,610	)	$	92,602
Accrued investment income		$	739						$	739
Preneed funeral trust investments									$	93,341
Market value as a percentage of cost									104.5		%

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	$	320
Due in one to five years	3,744
Due in five to ten years	5,782
Thereafter	34,174
Total fixed income securities	$	44,020

Preneed funereal trust investment security transactions

Preneed funeral trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations for the years ended December 31, 2015, 2016 and 2017 were as follows (in thousands):



	Year ended December 31,
	2015			2016			2017
Investment income	$	2,819		$	2,344		$	2,420
Realized gains	3,931			2,287			2,386
Realized losses	(3,979		)	(6,642		)	(2,396		)
Expenses and taxes	(988		)	(1,174		)	(1,290		)
Decrease (increase) in deferred preneed funeral receipts held in trust	(1,783		)	3,185			(1,120		)
	$	—		$	—		$	—

Purchases and sales of investments in preneed funeral trusts

Purchases and sales of investments in the preneed funeral trusts for the years ended December 31, 2015, 2016 and 2017 were as follows (in thousands):



	Year ended December 31,
	2015			2016			2017
Purchases	$	(26,021	)	$	(26,457	)	$	(21,954	)
Sales	42,582			27,425			14,463

Preneed Cemetery Trust Investments

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

Schedule of unrealized loss position, fair value

Our preneed cemetery trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of December 31, 2017 are shown in the following tables (in thousands):



	December 31, 2017
	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	$	151	$	(6	)	$	1,637	$	(187	)	$	1,788	$	(193	)
Corporate debt	3,735		(72		)	846		(201		)	4,581		(273		)
Preferred stock	48		—			8,109		(588		)	8,157		(588		)
Mortgage-backed securities	127		(15		)	27		(9		)	154		(24		)
Common stock	8,249		(1,512		)	1,742		(948		)	9,991		(2,460		)
Mutual funds:
Fixed Income	496		(11		)	—		—			496		(11		)
Total temporary impaired securities	$	12,806	$	(1,616	)	$	12,361	$	(1,933	)	$	25,167	$	(3,549	)

Our preneed cemetery trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of December 31, 2016 are shown in the following tables (in thousands):



	December 31, 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:
Municipal bonds	$	228	$	(4	)	$	—	$	—		$	228	$	(4	)
Foreign debt	2,523		(180		)	2,868		(475		)	5,391		(655		)
Corporate debt	6,939		(233		)	2,168		(890		)	9,107		(1,123		)
Preferred stock	3,217		(121		)	11,635		(826		)	14,852		(947		)
Mortgage-backed securities	51		(5		)	—		—			51		(5		)
Common stock	2,608		(202		)	3,385		(1,636		)	5,993		(1,838		)
Total temporary impaired securities	$	15,566	$	(745	)	$	20,056	$	(3,827	)	$	35,622	$	(4,572	)

Preneed Funeral Trust Investments

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

Schedule of unrealized loss position, fair value



	December 31, 2017
	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. treasury debt	$	1,325	$	(15	)	$	—	$	—		$	1,325	$	(15	)
Foreign debt	159		(6		)	1,608		(183		)	1,767		(189		)
Corporate debt	3,770		(74		)	842		(203		)	4,612		(277		)
Preferred stock	50		—			8,184		(585		)	8,234		(585		)
Mortgage-backed securities	221		(17		)	36		(10		)	257		(27		)
Common Stock	8,001		(1,496		)	1,728		(972		)	9,729		(2,468		)
Mutual funds:
Fixed income	549		(12		)	615		(37		)	1,164		(49		)
Total temporary impaired securities	$	14,075	$	(1,620	)	$	13,013	$	(1,990	)	$	27,088	$	(3,610	)

Our preneed funeral trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of December 31, 2016 are shown the the following tables (in thousands):



	December 31, 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:
U.S. treasury debt	$	834	$	(10	)	$	—	$	—		$	834	$	(10	)
Municipal bonds	244		(5		)	—		—			244		(5		)
Foreign debt	2,654		(186		)	2,905		(490		)	5,559		(676		)
Corporate debt	6,977		(215		)	2,234		(919		)	9,211		(1,134		)
Preferred stock	3,420		(128		)	11,750		(842		)	15,170		(970		)
Mortgage-backed securities	55		(5		)	11		(1		)	66		(6		)
Mutual funds:
Equity	2,795		(216		)	3,390		(1,634		)	6,185		(1,850		)
Fixed income	97		(7		)	644		(58		)	741		(65		)
Total temporary impaired securities	$	17,076	$	(772	)	$	20,934	$	(3,944	)	$	38,010	$	(4,716	)