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Acquisitions | 12 Months Ended
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Dec. 31, 2021
Business Combinations [Abstract] |
ACQUISITIONS | ACQUISITIONS We did not acquire any businesses in 2021. On January 3, 2020, we acquired one funeral home and cemetery combination business in Lafayette, California for $33.0 million in cash, of which $5.0 million was deposited in escrow in 2019 and $28.0 million was paid at closing in 2020. We acquired substantially all of the assets and assumed certain operating liabilities of these businesses. The pro forma impact of this acquisition on prior periods is not presented, as the impact is not significant to our reported results. The results of the acquired business are reflected on our Consolidated Statements of Operations from the date of acquisition. Subsequent to our initial purchase price allocation for this acquisition made during the first quarter of 2020, we adjusted and finalized our purchase price allocation based on additional information that became available prior to December 31, 2020. The following table summarizes the breakdown of the purchase price allocation for our 2020 acquisition (in thousands):
| Initial Purchase Price Allocation |  | Adjustments |  | Adjusted Purchase Price Allocation
Current assets | $ | 2,662 |  |  | $ | 108 |  |  | $ | 2,770 |
Trust investments | 9,089 |  |  | — |  |  | 9,089 |
Property, plant & equipment | 1,720 |  |  | — |  |  | 1,720 |
Cemetery property | 14,753 |  |  | 82 |  |  | 14,835 |
Goodwill | 12,916 |  |  | 500 |  |  | 13,416 |
Intangible and other non-current assets | 2,506 |  |  | (628) |  |  | 1,878 |
Assumed liabilities | (489) |  |  | $ | — |  |  | $ | (489) |
Deferred tax liability | (527) |  |  | (5) |  |  | (532) |
Trust liabilities | (9,089) |  |  | — |  |  | (9,089) |
Deferred revenue | (541) |  |  | (57) |  |  | (598) |
Purchase price | $ | 33,000 |  |  | $ | — |  |  | $ | 33,000 |
The current assets primarily relate to preneed cemetery receivables. The intangible and other non-current assets primarily relate to the fair value of tradenames. The assumed liabilities primarily relate to the obligations associated with delivered preneed merchandise that were not paid for prior to acquisition. The goodwill recorded for our 2020 acquisition is expected to be deductible for tax purposes.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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