Receivables

9 Months Ended

Sep. 30, 2022

Preneed Cemetery Receivables [Abstract]

RECEIVABLES

Accounts Receivable

Accounts receivable is comprised of the following (in thousands):


	September 30, 2022
	Funeral		Cemetery		Corporate		Total
Trade and financed receivables	$	7,992	$	14,524	$	—	$	22,516
Other receivables	509		1,047		189		1,745
Allowance for credit losses	(255)		(654)		—		(909)
Accounts receivable, net	$	8,246	$	14,917	$	189	$	23,352


	December 31, 2021
	Funeral		Cemetery		Corporate		Total
Trade and financed receivables	$	10,728	$	13,629	$	—	$	24,357
Other receivables	329		1,433		185		1,947
Allowance for credit losses	(365)		(625)		—		(990)
Accounts receivable, net	$	10,692	$	14,437	$	185	$	25,314

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 (in thousands):


	January 1, 2022		Provision for Credit Losses		Write Offs		Recoveries		September 30, 2022
Trade and financed receivables:
Funeral	$	(365)	$	(1,104)	$	2,150	$	(936)	$	(255)
Cemetery	(625)		(452)		423		—		(654)
Total allowance for credit losses on Trade and financed receivables	$	(990)	$	(1,556)	$	2,573	$	(936)	$	(909)

Preneed Cemetery Receivables

Our preneed cemetery receivables are comprised of the following (in thousands):


	December 31, 2021		September 30, 2022
Interment rights	$	40,863	$	43,888
Merchandise and services	7,348		8,233
Unearned finance charges	4,644		4,778
Preneed cemetery receivables	$	52,855	$	56,899

The components of our preneed cemetery receivables are as follows (in thousands):


	December 31, 2021		September 30, 2022
Preneed cemetery receivables	$	52,855	$	56,899
Less: unearned finance charges	(4,644)		(4,778)
Preneed cemetery receivables, at amortized cost	$	48,211	$	52,121
Less: allowance for credit losses	(1,704)		(1,832)
Less: balances due on undelivered cemetery preneed contracts	(10,353)		(10,546)
Less: amounts in accounts receivable	(13,004)		(13,870)
Preneed cemetery receivables, net	$	23,150	$	25,873

The following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net (in thousands):


	January 1, 2022		Provision for Credit Losses		Write Offs		September 30, 2022
Total allowance for credit losses on Preneed cemetery receivables, net	$	(1,079)	$	(736)	$	637	$	(1,178)

The amortized cost basis of our preneed cemetery receivables by year of origination at September 30, 2022 is as follows (in thousands):


	2022		2021		2020		2019		2018		Prior		Total
Total preneed cemetery receivables, at amortized cost	$	21,973	$	14,838	$	7,854	$	4,376	$	1,585	$	1,495	$	52,121

The aging of past due preneed cemetery receivables at September 30, 2022 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	$	634	$	357	$	148	$	2,042	$	3,181	$	38,394	$	41,575
Deferred revenue	185		147		441		518		1,291		14,033		15,324
Total contracts	$	819	$	504	$	589	$	2,560	$	4,472	$	52,427	$	56,899