Receivables from Preneed Trusts

3 Months Ended

Mar. 31, 2024

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, 2023		March 31, 2024
Preneed funeral trust funds, at cost	$	22,196	$	22,301
Less: allowance for contract cancellation	(666)		(669)
Receivables from preneed funeral trusts, net	$	21,530	$	21,632

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, 2023 and March 31, 2024. 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, 2024 is as follows (in thousands):


	Historical Cost Basis		Fair Value
Cash and cash equivalents	$	6,568	$	6,568
Fixed income investments	12,665		12,665
Mutual funds and common stocks	3,064		2,815
Annuities	4		4
Total	$	22,301	$	22,052

The composition of the preneed funeral trust funds at December 31, 2023 is as follows (in thousands):


	Historical Cost Basis		Fair Value
Cash and cash equivalents	$	6,547	$	6,547
Fixed income investments	12,732		12,732
Mutual funds and common stocks	2,913		2,695
Annuities	4		4
Total	$	22,196	$	21,978