RECEIVABLES

Accounts Receivable

Accounts receivable is comprised of the following at December 31, 2019 and March 31, 2020 (in thousands):



	March 31, 2020
	Funeral			Cemetery			Corporate		Total
Trade and financed receivables	$	9,537		$	11,057		$	—	$	20,594
Other receivables	311			870			298		1,479
Allowance for credit losses	(258		)	(970		)	—		(1,228		)
Accounts receivable, net	$	9,590		$	10,957		$	298	$	20,845



	December 31, 2019
	Funeral			Cemetery			Corporate		Total
Trade and financed receivables	$	10,046		$	10,508		$	—	$	20,554
Other receivables	935			157			681		1,773
Allowance for bad debt and contract cancellation	(223		)	(626		)	—		(849		)
Accounts receivable, net	$	10,758		$	10,039		$	681	$	21,478

Other receivables include supplier rebates, commissions due from third party insurance companies and perpetual care income receivables. We do not provide an allowance for credit losses for these receivables as we have historically not had any collectability issues nor do we expect any in the foreseeable future.

The following table summarizes the activity in our allowance for credit losses by portfolio segment for three months ended March 31, 2020 (in thousands):



	January 1, 2020			Provision for Credit Losses			Allowance Recorded at Acquisition			Write Offs		Recoveries			March 31, 2020
Trade and financed receivables:
Funeral	$	(223	)	$	(325	)	$	—		$	465	$	(175	)	$	(258	)
Cemetery	(626		)	(137		)	(287		)	80		—			(970		)
Total allowance for credit losses on Trade and financed receivables	$	(849	)	$	(462	)	$	(287	)	$	545	$	(175	)	$	(1,228	)

As noted in Note 3, we acquired preneed cemetery receivables in connection with the business acquired during the three months ended March 31, 2020. We recorded an allowance for credit losses of $0.6 million on these acquired receivables ($0.3 million current portion shown above in Accounts Receivable, net and $0.3 million non-current portion shown below in Preneed Cemetery Receivables, net). We accounted for the allowance for credit losses on these purchased financed assets using specific identification as these assets have a unique set of risk characteristics.

Bad debt expense for accounts receivable totaled $0.2 million for the three months ended March 31, 2019.

Preneed Cemetery Receivables

Our preneed cemetery receivables are comprised of the following at December 31, 2019 and March 31, 2020 (in thousands):



	December 31, 2019		March 31, 2020
Cemetery interment rights	$	31,366	$	33,067
Cemetery merchandise and services	9,950		10,337
Preneed cemetery receivables	$	41,316	$	43,404

The components of our preneed cemetery receivables at December 31, 2019 and March 31, 2020 are as follows (in thousands):



	December 31, 2019			March 31, 2020
Preneed cemetery receivables	$	41,316		$	43,404
Less: unearned finance charges	(4,522		)	(4,404		)
Preneed cemetery receivables, at amortized cost	$	36,794		$	39,000
Less: allowance for contract cancellation and credit losses	(1,916		)	(2,674		)
Less: balances due on undelivered cemetery preneed contracts	(4,823		)	(5,837		)
Less: amounts in accounts receivable	(9,882		)	(10,087		)
Preneed cemetery receivables, net	$	20,173		$	20,402

The following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net for three months ended March 31, 2020 (in thousands):



	January 1, 2020			Provision for Credit Losses			Allowance Recorded at Acquisition			Write Offs		March 31, 2020
Total allowance for credit losses on Preneed cemetery receivables, net	$	(1,290	)	$	(228	)	$	(318	)	$	132	$	(1,704	)

Bad debt expense for our preneed cemetery receivables totaled $0.2 million for the three months ended March 31, 2019.

The amortized cost basis of our preneed cemetery receivables by year of origination as of March 31, 2020 is as follows (in thousands):



	2020		2019		2018		2017		2016		Prior		Total
Total preneed cemetery receivables, at amortized cost	$	4,450	$	15,420	$	8,300	$	5,050	$	2,900	$	2,880	$	39,000

The aging of past due preneed cemetery receivables as of March 31, 2020 is as follows (in thousands):



	31-60 Past Due		61-90 Past Due		91-120 Past Due		>120 Past Due		Total Past Due		Current		Total
Recognized revenue	$	807	$	458	$	242	$	2,168	$	3,675	$	28,892	$	32,567
Deferred revenue	243		165		92		237		737		10,100		10,837
Total contracts	$	1,050	$	623	$	334	$	2,405	$	4,412	$	38,992	$	43,404