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Receivables (Tables) | 9 Months Ended
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Sep. 30, 2024
Preneed Cemetery Receivables [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | Accounts receivable is comprised of the following (in thousands):
| September 30, 2024
| Funeral |  | Cemetery |  | Corporate |  | Total
Trade and financed receivables | $ | 7,597 |  |  | $ | 23,443 |  |  | $ | — |  |  | $ | 31,040 |
Other receivables | 342 |  |  | 433 |  |  | 336 |  |  | 1,111 |
Allowance for credit losses | (322) |  |  | (916) |  |  | — |  |  | (1,238) |
Accounts receivable, net | $ | 7,617 |  |  | $ | 22,960 |  |  | $ | 336 |  |  | $ | 30,913 |
| 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):
| September 30, 2024 |  | December 31, 2023
Interment rights | $ | 76,269 |  |  | $ | 60,863 |
Merchandise and services | 12,682 |  |  | 11,223 |
Unearned finance charges | 5,371 |  |  | 5,669 |
Cemetery receivables | $ | 94,322 |  |  | $ | 77,755 |
The components of our cemetery receivables are as follows (in thousands):
| September 30, 2024 |  | December 31, 2023
Cemetery receivables | $ | 94,322 |  |  | $ | 77,755 |
Less: unearned finance charges | (5,371) |  |  | (5,669) |
Cemetery receivables, at amortized cost | $ | 88,951 |  |  | $ | 72,086 |
Less: allowance for credit losses | (2,623) |  |  | (3,495) |
Less: balances due on undelivered cemetery preneed contracts | (13,752) |  |  | (15,797) |
Less: amounts in accounts receivable | (22,527) |  |  | (17,219) |
Preneed cemetery receivables, net | $ | 50,049 |  |  | $ | 35,575 |
The amortized cost basis of our cemetery receivables by year of origination at September 30, 2024 is as follows (in thousands):
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Total
Total preneed cemetery receivables, at amortized cost | $ | 40,126 |  |  | $ | 24,821 |  |  | $ | 14,445 |  |  | $ | 6,304 |  |  | $ | 2,239 |  |  | $ | 1,016 |  |  | $ | 88,951 |
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 |  | September 30, 2024
Trade and financed receivables: |  |  |  |  |  |  |  |  |  |  |
Funeral | $ | (266) |  |  | $ | (941) |  |  |  |  | $ | 1,679 |  |  | $ | (794) |  |  | $ | (322) |
Cemetery | (1,240) |  |  | (550) |  |  |  |  | 874 |  |  | — |  |  | (916) |
Total allowance for credit losses on trade and financed receivables | $ | (1,506) |  |  | $ | (1,491) |  |  |  |  | $ | 2,553 |  |  | $ | (794) |  |  | $ | (1,238) |
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 |  | September 30, 2024
Total allowance for credit losses on Preneed cemetery receivables, net | $ | (2,255) |  |  | $ | (812) |  |  | $ | 1,360 |  |  | $ | (1,707) |
Aging of Past Due Financing Receivables | The aging of past due cemetery receivables at September 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 | $ | 1,548 |  |  | $ | 969 |  |  | $ | 340 |  |  | $ | 2,610 |  |  | $ | 5,467 |  |  | $ | 69,732 |  |  | $ | 75,199 |
Deferred revenue | 573 |  |  | 190 |  |  | 109 |  |  | 673 |  |  | 1,545 |  |  | 17,578 |  |  | 19,123 |
Total contracts | $ | 2,121 |  |  | $ | 1,159 |  |  | $ | 449 |  |  | $ | 3,283 |  |  | $ | 7,012 |  |  | $ | 87,310 |  |  | $ | 94,322 |

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