Receivables from Preneed Funeral Trusts

12 Months Ended

Dec. 31, 2022

Receivables From Preneed Trusts [Abstract]

Our receivables from preneed funeral 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 funeral trusts are as follows (in thousands):


	December 31, 2021		December 31, 2022
Preneed funeral trust funds, at cost	$	19,597	$	20,594
Less: allowance for contract cancellation	(588)		(618)
Receivables from preneed funeral trusts, net	$	19,009	$	19,976

The following summary reflects the composition of the assets held in trust and controlled by third parties to satisfy our future obligations related to the underlying preneed funeral contracts at December 31, 2021 and 2022. 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, 2022 is as follows (in thousands):


	Historical Cost Basis		Fair Value
As of December 31, 2022
Cash and cash equivalents	$	6,071	$	6,071
Fixed income investments	11,795		11,795
Mutual funds and common stocks	2,725		2,440
Annuities	3		3
Total	$	20,594	$	20,309

The composition of the preneed trust funds at December 31, 2021 is as follows (in thousands):


	Historical Cost Basis		Fair Value
As of December 31, 2021
Cash and cash equivalents	$	5,595	$	5,595
Fixed income investments	11,386		11,386
Mutual funds and common stocks	2,611		2,682
Annuities	5		5
Total	$	19,597	$	19,668