XML 42 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Segment Reporting Information [Line Items]        
Revenues $ 66,125 $ 64,241 $ 202,958 $ 201,475
Field costs and expenses:        
Cemetery property amortization 972 964 2,990 2,763
Field depreciation expense 3,106 3,047 9,250 8,925
Regional and unallocated funeral and cemetery costs 3,597 2,114 10,008 8,662
Other expenses 411 412 1,197 1,171
Total field costs and expenses 48,069 47,127 144,051 143,348
Gross profit 18,056 17,114 58,907 58,127
Corporate costs and expenses:        
General, administrative and other 5,755 6,344 17,059 19,342
Home office depreciation and amortization 357 505 1,115 1,412
Total corporate costs and expenses 6,112 6,849 18,174 20,754
Operating income 11,944 10,265 40,733 37,373
Interest expense (6,283) (6,285) (18,907) (14,763)
Accretion of discount on convertible subordinated notes (61) (246) (178) (1,961)
Net loss on early extinguishment of debt 0 0 0 (936)
Other, net (4,076) (347) (3,914) (345)
Income before income taxes 1,524 3,387 17,734 19,368
Provision for income taxes (930) (1,028) (5,551) (5,423)
Tax adjustment related to certain discrete items (17) (159) (219) 358
Total provision for income taxes $ (947) $ (1,187) (5,770) (5,065)
Net income     $ 11,964 $ 14,303
Basic earnings per common share:        
Continuing operations (in dollars per Share) $ 0.03 $ 0.11 $ 0.66 $ 0.80
Continuing operations (in dollars per Share) 0.03 0.11 0.66 0.78
Dividends declared per common share (in dollars per Share) $ 0.075 $ 0.075 $ 0.225 $ 0.225
Weighted average number of common and common equivalent shares outstanding:        
Basic (in Shares) 17,737 19,060 17,917 17,701
Diluted (in Shares) 17,768 19,161 17,951 18,273
Funeral        
Segment Reporting Information [Line Items]        
Revenues $ 51,517 $ 49,843 $ 160,187 $ 156,969
Field costs and expenses:        
Cost of operating 18,011 18,085 54,062 54,031
Corporate costs and expenses:        
Operating income 14,124 13,644 46,824 45,962
Income before income taxes 9,312 13,417 41,591 45,244
Cemetery        
Segment Reporting Information [Line Items]        
Revenues 14,608 14,398 42,771 44,506
Field costs and expenses:        
Cost of operating 21,972 22,505 66,544 67,796
Corporate costs and expenses:        
Operating income 3,932 3,470 12,083 12,165
Income before income taxes 3,885 3,560 12,324 12,406
Service Revenue [Member]        
Segment Reporting Information [Line Items]        
Revenues 34,133 33,003 105,444 103,660
Property and Merchandise [Member]        
Segment Reporting Information [Line Items]        
Revenues 28,002 27,026 85,458 84,741
Other revenue        
Segment Reporting Information [Line Items]        
Revenues 3,990 4,212 12,056 13,074
Other revenue | Funeral        
Segment Reporting Information [Line Items]        
Revenues 2,199 2,087 6,618 6,612
Other revenue | Cemetery        
Segment Reporting Information [Line Items]        
Revenues $ 1,791 $ 2,125 $ 5,438 $ 6,462