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Receivables (Tables) | 6 Months Ended
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Jun. 30, 2023
Preneed Cemetery Receivables [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | Accounts receivable is comprised of the following (in thousands):
| June 30, 2023
| Funeral |  | Cemetery |  | Corporate |  | Total
Trade and financed receivables | $ | 7,439 |  |  | $ | 17,504 |  |  | $ | — |  |  | $ | 24,943 |
Other receivables | 616 |  |  | 359 |  |  | 136 |  |  | 1,111 |
Allowance for credit losses | (284) |  |  | (1,131) |  |  | — |  |  | (1,415) |
Accounts receivable, net | $ | 7,771 |  |  | $ | 16,732 |  |  | $ | 136 |  |  | $ | 24,639 |
| December 31, 2022
| Funeral |  | Cemetery |  | Corporate |  | Total
Trade and financed receivables | $ | 9,518 |  |  | $ | 14,429 |  |  | $ | — |  |  | $ | 23,947 |
Other receivables | 643 |  |  | 833 |  |  | 48 |  |  | 1,524 |
Allowance for credit losses | (311) |  |  | (702) |  |  | — |  |  | (1,013) |
Accounts receivable, net | $ | 9,850 |  |  | $ | 14,560 |  |  | $ | 48 |  |  | $ | 24,458 |
Preneed Cemetery Receivables Our preneed cemetery receivables are comprised of the following (in thousands):
| December 31, 2022 |  | June 30, 2023
Interment rights | $ | 45,351 |  |  | $ | 56,781 |
Merchandise and services | 8,585 |  |  | 10,242 |
Unearned finance charges | 4,894 |  |  | 5,316 |
Preneed cemetery receivables | $ | 58,830 |  |  | $ | 72,339 |
The components of our preneed cemetery receivables are as follows (in thousands):
| December 31, 2022 |  | June 30, 2023
Preneed cemetery receivables | $ | 58,830 |  |  | $ | 72,339 |
Less: unearned finance charges | (4,894) |  |  | (5,316) |
Preneed cemetery receivables, at amortized cost | $ | 53,936 |  |  | $ | 67,023 |
Less: allowance for credit losses | (1,985) |  |  | (3,172) |
Less: balances due on undelivered cemetery preneed contracts | (11,552) |  |  | (14,204) |
Less: amounts in accounts receivable | (13,727) |  |  | (16,373) |
Preneed cemetery receivables, net | $ | 26,672 |  |  | $ | 33,274 |
The amortized cost basis of our preneed cemetery receivables by year of origination at June 30, 2023 is as follows (in thousands):
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Total
Total preneed cemetery receivables, at amortized cost | $ | 20,254 |  |  | $ | 23,893 |  |  | $ | 12,418 |  |  | $ | 6,082 |  |  | $ | 2,563 |  |  | $ | 1,813 |  |  | $ | 67,023 |
Preneed Cemetery Receivables | The following table summarizes the activity in our allowance for credit losses by segment (in thousands):
| January 1, 2023 |  | Provision for Credit Losses |  |  |  | Write Offs |  | Recoveries |  | June 30, 2023
Trade and financed receivables: |  |  |  |  |  |  |  |  |  |  |
Funeral | $ | (311) |  |  | $ | (562) |  |  |  |  | $ | 1,183 |  |  | $ | (594) |  |  | $ | (284) |
Cemetery | (702) |  |  | (295) |  |  |  |  | (134) |  |  | — |  |  | (1,131) |
Total allowance for credit losses on trade and financed receivables | $ | (1,013) |  |  | $ | (857) |  |  |  |  | $ | 1,049 |  |  | $ | (594) |  |  | $ | (1,415) |
The following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net (in thousands):
| January 1, 2023 |  | Provision for Credit Losses |  | Write Offs |  | June 30, 2023
Total allowance for credit losses on Preneed cemetery receivables, net | $ | (1,283) |  |  | $ | (487) |  |  | $ | (271) |  |  | $ | (2,041) |
Aging of Past Due Financing Receivables | The aging of past due preneed cemetery receivables at June 30, 2023 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 | $ | 1,376 |  |  | $ | 700 |  |  | $ | 273 |  |  | $ | 3,304 |  |  | $ | 5,653 |  |  | $ | 47,166 |  |  | $ | 52,819 |
Deferred revenue | 361 |  |  | 224 |  |  | 95 |  |  | 1,150 |  |  | 1,830 |  |  | 17,690 |  |  | 19,520 |
Total contracts | $ | 1,737 |  |  | $ | 924 |  |  | $ | 368 |  |  | $ | 4,454 |  |  | $ | 7,483 |  |  | $ | 64,856 |  |  | $ | 72,339 |

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