Receivables from Preneed Trusts

3 Months Ended

Mar. 31, 2023

Receivables From Preneed Trusts [Abstract]

RECEIVABLES FROM PRENEED FUNERAL TRUSTS

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, 2022		March 31, 2023
Preneed funeral trust funds, at cost	$	20,594	$	20,975
Less: allowance for contract cancellation	(618)		(629)
Receivables from preneed funeral trusts, net	$	19,976	$	20,346

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, 2022 and March 31, 2023. 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 funeral trust funds at March 31, 2023 is as follows (in thousands):


	Historical Cost Basis		Fair Value
Cash and cash equivalents	$	6,191	$	6,191
Fixed income investments	12,031		12,031
Mutual funds and common stocks	2,750		2,518
Annuities	3		3
Total	$	20,975	$	20,743

The composition of the preneed funeral trust funds at December 31, 2022 is as follows (in thousands):


	Historical Cost Basis		Fair Value
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