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Cemetery Perpetual Care Trust Investments (Tables)
 9 Months Ended
Sep. 30, 2019
Cemetery Perpetual Care Trust Investments [Abstract]  
Components of care trusts' corpus
The components of Care trusts’ corpus as of December 31, 2018 and September 30, 2019 are as follows (in thousands):
 
December 31, 2018
 
September 30, 2019
Trust assets, at market value
$
44,071

 
$
48,397

Obligations due from trust
(577
)
 
(626
)
Care trusts’ corpus
$
43,494

 
$
47,771
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, 2019 (in thousands, except percentages):
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
Cash and money market accounts
1
 
$
4,182

 
$
—

 
$
—

 
$
4,182

Fixed income securities:
 
 
 
 
 
 
 
 
 
Foreign debt
2
 
4,683

 
98

 
(336
)
 
4,445

Corporate debt
2
 
11,935

 
654

 
(500
)
 
12,089

Preferred stock
2
 
10,191

 
708

 
(94
)
 
10,805

Mortgage-backed securities
2
 
355

 
—

 
(132
)
 
223

Common stock
1
 
16,101

 
687

 
(2,577
)
 
14,211

Mutual funds:
 
 
 
 
 
 
 
 
 
Fixed Income
2
 
1,901

 
63

 
(77
)
 
1,887

Trust securities
 
 
$
49,348

 
$
2,210

 
$
(3,716
)
 
$
47,842

Accrued investment income
 
 
$
555

 
 
 
 
 
$
555

Cemetery perpetual care investments
 
 
 
 
 
 
 
 
$
48,397

Market value as a percentage of cost
 
 
 
 
 
 
 
 
96.9
%
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
$
—

Due in one to five years
1,710

Due in five to ten years
8,600

Thereafter
17,252

Total
$
27,562
Cost and fair market values associated with 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, 2018 (in thousands, except percentages):
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
Cash and money market accounts
1
 
$
11,144

 
$
—

 
$
—

 
$
11,144

Fixed income securities:
 
 
 
 
 
 
 
 
 
Foreign debt
2
 
2,872

 
27

 
(385
)
 
2,514

Corporate debt
2
 
9,956

 
227

 
(730
)
 
9,453

Preferred stock
2
 
8,141

 
37

 
(820
)
 
7,358

Mortgage-backed securities
2
 
417

 
101

 
(9
)
 
509

Common stock
1
 
15,562

 
542

 
(3,395
)
 
12,709

Trust securities
 
 
$
48,092

 
$
934

 
$
(5,339
)
 
$
43,687

Accrued investment income
 
 
$
384

 
 
 
 
 
$
384

Cemetery perpetual care investments
 
 
 
 
 
 
 
 
$
44,071

Market value as a percentage of cost
 
 
 
 
 
 
 
 
90.8
%
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, 2019 are shown in the following table (in thousands):
 
September 30, 2019
 
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
$
1,368

 
$
(88
)
 
$
734

 
$
(248
)
 
$
2,102

 
$
(336
)
Corporate debt
1,971

 
(342
)
 
3,425

 
(158
)
 
5,396

 
(500
)
Preferred stock
2,542

 
(25
)
 
1,549

 
(69
)
 
4,091

 
(94
)
Mortgage-backed securities
—

 
—

 
223

 
(132
)
 
223

 
(132
)
Common stock
7,753

 
(1,703
)
 
1,885

 
(874
)
 
9,638

 
(2,577
)
Mutual Funds:
 
 
 
 
 
 
 
 
 
 
 
Fixed Income
601

 
(77
)
 
—

 
—

 
601

 
(77
)
Total temporary impaired securities
$
14,235

 
$
(2,235
)
 
$
7,816

 
$
(1,481
)
 
$
22,051

 
$
(3,716
)
Our perpetual care trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses for the periods ended December 31, 2018 are shown in the following table (in thousands):
 
December 31, 2018
 
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
$
1,619

 
$
(189
)
 
$
639

 
$
(196
)
 
$
2,258

 
$
(385
)
Corporate debt
7,006

 
(587
)
 
301

 
(143
)
 
7,307

 
(730
)
Preferred stock
3,586

 
(279
)
 
2,787

 
(541
)
 
6,373

 
(820
)
Mortgage-backed securities
—

 
—

 
32

 
(9
)
 
32

 
(9
)
Common stock
9,010

 
(2,557
)
 
733

 
(838
)
 
9,743

 
(3,395
)
Total temporary impaired securities
$
21,221

 
$
(3,612
)
 
$
4,492

 
$
(1,727
)
 
$
25,713

 
$
(5,339
)
Perpetual care trust investment security transactions recorded in interest income and other, net

Perpetual care trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations for the three and nine months ended September 30, 2018 and 2019 are as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2019
 
2018
 
2019
Realized gains
$
435

 
$
291

 
$
739

 
$
1,315

Realized losses
(363
)
 
(414
)
 
(889
)
 
(855
)
Net change in care trusts’ corpus
(72
)
 
123

 
150

 
(460
)
Total
$
—

 
$
—

 
$
—

 
$
—
Perpetual care trust investment security transactions recorded in cemetery revenue
Perpetual care trust investment security transactions recorded in Other revenue for the three and nine months ended September 30, 2018 and 2019 are as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2019
 
2018
 
2019
Investment income
$
1,158

 
$
1,220

 
$
3,749

 
$
3,414

Realized loss, net
(241
)
 
(232
)
 
(955
)
 
(512
)
Total
$
917

 
$
988

 
$
2,794

 
$
2,902
Purchases and sales of investments in perpetual care trusts
Purchases and sales of investments in the perpetual care trusts for the three and nine months ended September 30, 2018 and 2019 are as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2019
 
2018
 
2019
Purchases
$
(5,185
)
 
$
(7,680
)
 
$
(11,856
)
 
$
(21,954
)
Sales
6,149

 
6,599

 
15,545

 
14,578