XML 26 R13.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Receivables
 6 Months Ended
Jun. 30, 2024
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):
June 30, 2024
FuneralCemeteryCorporateTotal
Trade and financed receivables$8,138 $21,915 $— $30,053 
Other receivables307 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
FuneralCemeteryCorporateTotal
Trade and financed receivables$8,822 $18,459 $— $27,281 
Other receivables404 595 286 1,285 
Allowance for credit losses(266)(1,240)— (1,506)
Accounts receivable, net$8,960 $17,814 $286 $27,060 
Other receivables include supplier rebates, commissions due from third party insurance companies and perpetual care income receivables. We do not provide an allowance for credit losses for these receivables as we have historically not had any collectability issues nor do we expect any in the foreseeable future.
The following table summarizes the activity in our allowance for credit losses by segment (in thousands):
January 1, 2024Provision for Credit LossesWrite OffsRecoveriesJune 30, 2024
Trade and financed receivables:
Funeral$(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)
Balances due on undelivered preneed funeral trust contracts have been reclassified to reduce Deferred preneed funeral revenue on our Consolidated Balance Sheet of $10.8 million and $10.7 million at June 30, 2024 and December 31, 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.

Cemetery Receivables
Our cemetery receivables are comprised of the following (in thousands):
June 30, 2024December 31, 2023
Interment rights$71,864 $60,863 
Merchandise and services12,516 11,223 
Unearned finance charges6,466 5,669 
Cemetery receivables$90,846 $77,755 
The components of our cemetery receivables are as follows (in thousands):
June 30, 2024December 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 following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net (in thousands):
January 1, 2024Provision for Credit LossesWrite OffsJune 30, 2024
Total allowance for credit losses on Preneed cemetery receivables, net
$(2,255)$(513)$511 $(2,257)
The amortized cost basis of our cemetery receivables by year of origination at June 30, 2024 is as follows (in thousands):
20242023202220212020PriorTotal
Total preneed cemetery receivables, at amortized cost$27,655 $27,698 $16,244 $7,837 $3,062 $1,884 $84,380 
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		CurrentTotal
Recognized revenue$2,379 $782 $277 $3,339 $6,777 $62,964 $69,741 
Deferred revenue582 179 76 1,197 2,034 19,071 21,105 
Total contracts$2,961 $961 $353 $4,536 $8,811 $82,035 $90,846 
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 $14.6 million and $15.8 million at June 30, 2024 and December 31, 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.