XML 14 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Segment Reporting Information [Line Items]        
Revenues $ 67,752 $ 63,847 $ 136,833 $ 137,234
Field costs and expenses:        
Cemetery property amortization 1,169 891 2,018 1,799
Field depreciation expense 3,059 3,013 6,144 5,878
Regional and unallocated funeral and cemetery costs 3,622 3,267 6,411 6,548
Other expenses 386 354 786 759
Total field costs and expenses 48,502 47,022 95,983 96,221
Gross profit 19,250 16,825 40,850 41,013
Corporate costs and expenses:        
General, administrative and other 5,692 6,380 11,304 12,998
Home office depreciation and amortization 369 464 758 907
Total corporate costs and expenses 6,061 6,844 12,062 13,905
Operating income 13,189 9,981 28,788 27,108
Interest expense (6,296) (4,743) (12,624) (8,478)
Accretion of discount on convertible subordinated notes (60) (555) (117) (1,715)
Net loss on early extinguishment of debt 0 (936) 0 (936)
Other, net 175 0 162 2
Income before income taxes 7,008 3,747 16,209 15,981
Provision for income taxes (2,043) (1,030) (4,620) (4,395)
Tax adjustment related to certain discrete items (103) 30 (202) 517
Total provision for income taxes $ (2,146) $ (1,000) (4,822) (3,878)
Net income     $ 11,387 $ 12,103
Basic earnings per common share:        
Continuing operations (in dollars per Share) $ 0.27 $ 0.15 $ 0.63 $ 0.71
Continuing operations (in dollars per Share) 0.27 0.15 0.63 0.67
Dividends declared per common share (in dollars per Share) $ 0.075 $ 0.075 $ 0.15 $ 0.15
Weighted average number of common and common equivalent shares outstanding:        
Basic (in Shares) 17,959 17,916 18,008 17,010
Diluted (in Shares) 17,988 18,245 18,043 17,924
Funeral        
Segment Reporting Information [Line Items]        
Revenues $ 52,507 $ 48,532 $ 108,670 $ 107,126
Field costs and expenses:        
Cost of operating 17,955 17,329 36,052 35,946
Corporate costs and expenses:        
Operating income 14,624 12,654 32,700 32,318
Income before income taxes 14,418 12,414 32,279 31,828
Cemetery        
Segment Reporting Information [Line Items]        
Revenues 15,245 15,315 28,163 30,108
Field costs and expenses:        
Cost of operating 22,311 22,168 44,572 45,291
Corporate costs and expenses:        
Operating income 4,626 4,171 8,150 8,695
Income before income taxes 4,852 4,254 8,438 8,846
Service Revenue [Member]        
Segment Reporting Information [Line Items]        
Revenues 34,659 31,972 71,311 70,657
Property and Merchandise [Member]        
Segment Reporting Information [Line Items]        
Revenues 28,877 27,531 57,456 57,715
Other revenue        
Segment Reporting Information [Line Items]        
Revenues 4,216 4,344 8,066 8,862
Other revenue | Funeral        
Segment Reporting Information [Line Items]        
Revenues 2,198 2,213 4,419 4,525
Other revenue | Cemetery        
Segment Reporting Information [Line Items]        
Revenues $ 2,018 $ 2,131 $ 3,647 $ 4,337