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Receivables (Tables) | 6 Months Ended
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Jun. 30, 2024
Preneed Cemetery Receivables [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | Accounts receivable is comprised of the following (in thousands):
| June 30, 2024
| Funeral |  | Cemetery |  | Corporate |  | Total
Trade and financed receivables | $ | 8,138 |  |  | $ | 21,915 |  |  | $ | — |  |  | $ | 30,053 |
Other receivables | 307 |  |  | 293 |  |  | 334 |  |  | 934 |
Allowance for credit losses | (355) |  |  | (1,234) |  |  | — |  |  | (1,589) |
Accounts receivable, net | $ | 8,090 |  |  | $ | 20,974 |  |  | $ | 334 |  |  | $ | 29,398 |
| December 31, 2023
| Funeral |  | Cemetery |  | Corporate |  | Total
Trade and financed receivables | $ | 8,822 |  |  | $ | 18,459 |  |  | $ | — |  |  | $ | 27,281 |
Other receivables | 404 |  |  | 595 |  |  | 286 |  |  | 1,285 |
Allowance for credit losses | (266) |  |  | (1,240) |  |  | — |  |  | (1,506) |
Accounts receivable, net | $ | 8,960 |  |  | $ | 17,814 |  |  | $ | 286 |  |  | $ | 27,060 |
Cemetery Receivables Our cemetery receivables are comprised of the following (in thousands):
| June 30, 2024 |  | December 31, 2023
Interment rights | $ | 71,864 |  |  | $ | 60,863 |
Merchandise and services | 12,516 |  |  | 11,223 |
Unearned finance charges | 6,466 |  |  | 5,669 |
Cemetery receivables | $ | 90,846 |  |  | $ | 77,755 |
The components of our cemetery receivables are as follows (in thousands):
| June 30, 2024 |  | December 31, 2023
Cemetery receivables | $ | 90,846 |  |  | $ | 77,755 |
Less: unearned finance charges | (6,466) |  |  | (5,669) |
Cemetery receivables, at amortized cost | $ | 84,380 |  |  | $ | 72,086 |
Less: allowance for credit losses | (3,491) |  |  | (3,495) |
Less: balances due on undelivered cemetery preneed contracts | (14,639) |  |  | (15,797) |
Less: amounts in accounts receivable | (20,681) |  |  | (17,219) |
Preneed cemetery receivables, net | $ | 45,569 |  |  | $ | 35,575 |
The amortized cost basis of our cemetery receivables by year of origination at June 30, 2024 is as follows (in thousands):
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Total
Total preneed cemetery receivables, at amortized cost | $ | 27,655 |  |  | $ | 27,698 |  |  | $ | 16,244 |  |  | $ | 7,837 |  |  | $ | 3,062 |  |  | $ | 1,884 |  |  | $ | 84,380 |
Preneed Cemetery Receivables | The following table summarizes the activity in our allowance for credit losses by segment (in thousands):
| January 1, 2024 |  | Provision for Credit Losses |  |  |  | Write Offs |  | Recoveries |  | June 30, 2024
Trade and financed receivables: |  |  |  |  |  |  |  |  |  |  |
Funeral | $ | (266) |  |  | $ | (591) |  |  |  |  | $ | 975 |  |  | $ | (473) |  |  | $ | (355) |
Cemetery | (1,240) |  |  | (343) |  |  |  |  | 349 |  |  | — |  |  | (1,234) |
Total allowance for credit losses on trade and financed receivables | $ | (1,506) |  |  | $ | (934) |  |  |  |  | $ | 1,324 |  |  | $ | (473) |  |  | $ | (1,589) |
The following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net (in thousands):
| January 1, 2024 |  | Provision for Credit Losses |  | Write Offs |  | June 30, 2024
Total allowance for credit losses on Preneed cemetery receivables, net | $ | (2,255) |  |  | $ | (513) |  |  | $ | 511 |  |  | $ | (2,257) |
Aging of Past Due Financing Receivables | The aging of past due cemetery receivables at June 30, 2024 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 | $ | 2,379 |  |  | $ | 782 |  |  | $ | 277 |  |  | $ | 3,339 |  |  | $ | 6,777 |  |  | $ | 62,964 |  |  | $ | 69,741 |
Deferred revenue | 582 |  |  | 179 |  |  | 76 |  |  | 1,197 |  |  | 2,034 |  |  | 19,071 |  |  | 21,105 |
Total contracts | $ | 2,961 |  |  | $ | 961 |  |  | $ | 353 |  |  | $ | 4,536 |  |  | $ | 8,811 |  |  | $ | 82,035 |  |  | $ | 90,846 |

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