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Receivables | 9 Months Ended
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Sep. 30, 2023
Preneed Cemetery Receivables [Abstract] |
Receivables | RECEIVABLES Accounts Receivable Our funeral receivables are recorded in Accounts receivable, net and primarily consist of amounts due for funeral services already performed. Atneed cemetery receivables and preneed cemetery receivables with payments expected to be received within one year from the balance sheet date are also recorded in Accounts receivable, net. Preneed cemetery receivables with payments expected to be received beyond one year from the balance sheet date are recorded in Preneed cemetery receivables, net. Accounts receivable is comprised of the following (in thousands):
| September 30, 2023
| Funeral |  | Cemetery |  | Corporate |  | Total
Trade and financed receivables | $ | 7,983 |  |  | $ | 18,240 |  |  | $ | — |  |  | $ | 26,223 |
Other receivables | 336 |  |  | 391 |  |  | 100 |  |  | 827 |
Allowance for credit losses | (285) |  |  | (1,241) |  |  | — |  |  | (1,526) |
Accounts receivable, net | $ | 8,034 |  |  | $ | 17,390 |  |  | $ | 100 |  |  | $ | 25,524 |
| 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 |
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 segment (in thousands):
| January 1, 2023 |  | Provision for Credit Losses |  |  |  | Write Offs |  | Recoveries |  | September 30, 2023
Trade and financed receivables: |  |  |  |  |  |  |  |  |  |  |
Funeral | $ | (311) |  |  | $ | (858) |  |  |  |  | $ | 1,745 |  |  | $ | (861) |  |  | $ | (285) |
Cemetery | (702) |  |  | (548) |  |  |  |  | 9 |  |  | — |  |  | (1,241) |
Total allowance for credit losses on trade and financed receivables | $ | (1,013) |  |  | $ | (1,406) |  |  |  |  | $ | 1,754 |  |  | $ | (861) |  |  | $ | (1,526) |
Balances due on undelivered preneed funeral trust contracts have been reclassified to reduce Deferred preneed funeral revenue on our Consolidated Balance Sheet of $8.9 million and $10.7 million at December 31, 2022 and September 30, 2023, respectively. As these performance obligations are to be completed after the date of death, we cannot quantify the recognition of revenue in future periods. However, we estimate an average maturity period of ten years for preneed funeral contracts. Preneed Cemetery Receivables Our preneed cemetery receivables are comprised of the following (in thousands):
| December 31, 2022 |  | September 30, 2023
Interment rights | $ | 45,351 |  |  | $ | 58,032 |
Merchandise and services | 8,585 |  |  | 10,574 |
Unearned finance charges | 4,894 |  |  | 5,407 |
Preneed cemetery receivables | $ | 58,830 |  |  | $ | 74,013 |
The components of our preneed cemetery receivables are as follows (in thousands):
| December 31, 2022 |  | September 30, 2023
Preneed cemetery receivables | $ | 58,830 |  |  | $ | 74,013 |
Less: unearned finance charges | (4,894) |  |  | (5,407) |
Preneed cemetery receivables, at amortized cost | $ | 53,936 |  |  | $ | 68,606 |
Less: allowance for credit losses | (1,985) |  |  | (3,548) |
Less: balances due on undelivered cemetery preneed contracts | (11,552) |  |  | (13,727) |
Less: amounts in accounts receivable | (13,727) |  |  | (16,999) |
Preneed cemetery receivables, net | $ | 26,672 |  |  | $ | 34,332 |
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 |  | September 30, 2023
Total allowance for credit losses on Preneed cemetery receivables, net | $ | (1,283) |  |  | $ | (908) |  |  | $ | (116) |  |  | $ | (2,307) |
The amortized cost basis of our preneed cemetery receivables by year of origination at September 30, 2023 is as follows (in thousands):
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Total
Total preneed cemetery receivables, at amortized cost | $ | 27,143 |  |  | $ | 21,505 |  |  | $ | 11,134 |  |  | $ | 5,312 |  |  | $ | 1,909 |  |  | $ | 1,603 |  |  | $ | 68,606 |
The aging of past due preneed cemetery receivables at September 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 | $ | 1,174 |  |  | $ | 739 |  |  | $ | 648 |  |  | $ | 3,686 |  |  | $ | 6,247 |  |  | $ | 48,632 |  |  | $ | 54,879 |
Deferred revenue | 281 |  |  | 294 |  |  | 124 |  |  | 1,292 |  |  | 1,991 |  |  | 17,143 |  |  | 19,134 |
Total contracts | $ | 1,455 |  |  | $ | 1,033 |  |  | $ | 772 |  |  | $ | 4,978 |  |  | $ | 8,238 |  |  | $ | 65,775 |  |  | $ | 74,013 |
Balances due on undelivered preneed cemetery contracts have been reclassified to reduce Deferred preneed cemetery revenue on our Consolidated Balance Sheet. The transaction price allocated to preneed merchandise and service performance obligations that were unfulfilled were $11.6 million and $13.7 million at December 31, 2022 and September 30, 2023, respectively. As these performance obligations are to be completed after the date of death, we cannot quantify the recognition of revenue in future periods. However, we estimate an average maturity period of eight years for preneed cemetery contracts.

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- Definition PRENEED CEMETERY RECEIVABLES + References No definition available. + Details
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- Definition This note represents disclosures relating to preneed cemetary receivables. + References No definition available. + Details
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Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
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