Receivables from Preneed Trusts

12 Months Ended

Dec. 31, 2020

Receivables From Preneed Trusts [Abstract]

RECEIVABLES FROM PRENEED TRUSTS

Our receivables from preneed trusts represent assets in trusts which are controlled and operated by third parties in which we do not have a controlling financial interest (less than 50%) in the trust assets. We account for these investments at cost. Receivables from preneed trusts are as follows (in thousands):


	December 31, 2019		December 31, 2020
Preneed trust funds, at cost	$	18,581	$	17,365
Less: allowance for contract cancellation	(557)		(521)
Receivables from preneed trusts, net	$	18,024	$	16,844

The following summary reflects the composition of the assets held in trust and controlled by third parties to satisfy our future obligations under preneed arrangements related to the preceding contracts at December 31, 2019 and 2020. The cost basis includes reinvested interest and dividends that have been earned on the trust assets. Fair value includes unrealized gains and losses on trust assets.

The composition of the preneed trust funds at December 31, 2020 is as follows (in thousands):


	Historical Cost Basis		Fair Value
As of December 31, 2020
Cash and cash equivalents	$	4,604	$	4,604
Fixed income investments	10,355		10,355
Mutual funds and common stocks	2,402		2,569
Annuities	4		4
Total	$	17,365	$	17,532

The composition of the preneed trust funds at December 31, 2019 is as follows (in thousands):


	Historical Cost Basis		Fair Value
As of December 31, 2019
Cash and cash equivalents	$	4,533	$	4,533
Fixed income investments	11,603		11,603
Mutual funds and common stocks	2,440		2,518
Annuities	5		5
Total	$	18,581	$	18,659