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Receivables (Tables) | 9 Months Ended
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Sep. 30, 2023
Preneed Cemetery Receivables [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | 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 |
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 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 |
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 |  | 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) |
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) |
Aging of Past Due Financing Receivables | 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 |

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