Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Revenue, pre-tax income and total assets by segments

The tables below present revenue, disaggregated by major source for each of our reportable segments, as well as, significant segment expenses, other segment expenses, operating income (loss), depreciation and amortization, interest expense, income (loss) before income taxes, income tax expense (benefit), total assets, long-lived assets, goodwill, capital expenditures and number of operating locations by segment as follows, (in thousands, except number of operating locations) for the years ended December 31, 2024, 2023 and 2022, respectively:


Year Ended, December 31, 2024	Funeral		Cemetery		Corporate		Total
Revenue
Services	$	163,696	$	19,355	$	—	$	183,051
Merchandise	81,036		17,482		—		98,518
Cemetery property	—		88,414		—		88,414
Other revenue	18,382		15,833		—		34,215
Total revenue	263,114		141,084		—		404,198

Less:(1)
Salaries, benefits and commission expenses	69,552		37,958		—		107,510
Cost of merchandise	27,831		8,058		—		35,889
Allocated overhead costs(2)	13,135		4,883		—		18,018
Facilities and grounds expenses	10,561		6,527		—		17,088
General and administrative expenses(3)	10,324		3,616		—		13,940
Other segment expenses(4)	47,454		23,459		59,041		129,954
Operating income (loss)	$	84,257	$	56,583	$	(59,041)	$	81,799

Depreciation and amortization	$	11,736	$	10,161	$	993	$	22,890

Interest expense	$	947	$	27	$	31,101	$	32,075

Income (loss) before income taxes	$	83,945	$	56,933	$	(90,798)	$	50,080

Income tax expense (benefit)	$	28,709	$	19,471	$	(31,053)	$	17,127

Total assets	$	781,006	$	477,487	$	21,087	$	1,279,580

Long-lived assets	$	628,681	$	207,427	$	10,232	$	846,340

Goodwill	$	356,869	$	57,990	$	—	$	414,859

Capital expenditures	$	5,724	$	8,814	$	1,560	$	16,098

Number of operating locations at year end	162		31		—		193

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2) Allocated overhead costs include: property insurance costs, property tax expenses and corporate overhead fees allocated to the field, such as information technology, human resources, legal and finance.
(3) General and administrative expenses include: professional services, travel and meals expenses, computer software expenses and office supplies.
(4) The Corporate segment's other segment expenses primarily include general, administrative and other expenses, net loss on divestitures, disposals and impairment charges and amortization and depreciation expenses. The Funeral and Cemetery segment's other segment expenses primarily include transportation costs, other funeral costs, non-payroll related promotional costs, net loss on divestitures, disposals and impairment charges and amortization and depreciation expenses.


Year Ended, December 31, 2023	Funeral		Cemetery		Corporate		Total
Revenue
Services	$	163,600	$	18,566	$	—	$	182,166
Merchandise	85,795		16,385		—		102,180
Cemetery property	—		67,310		—		67,310
Other revenue	15,381		15,483		—		30,864
Total revenue	264,776		117,744		—		382,520

Less:(1)
Salaries, benefits and commission expenses	72,210		33,962		—		106,172
Cost of merchandise	29,387		7,445		—		36,832
Allocated overhead costs(2)	12,767		4,147		—		16,914
Facilities and grounds expenses	10,063		5,578		—		15,641
General and administrative expenses(3)	10,301		3,253		—		13,554
Other segment expenses(4)	48,742		21,436		42,250		112,428
Operating income (loss)	$	81,306	$	41,923	$	(42,250)	$	80,979

Depreciation and amortization	$	12,197	$	8,008	$	912	$	21,117

Interest expense	$	783	$	8	$	35,475	$	36,266

Income (loss) before income taxes	$	82,453	$	42,208	$	(78,232)	$	46,429

Income tax expense (benefit)	$	23,115	$	11,833	$	(21,932)	$	13,016

Total assets	$	802,368	$	448,018	$	17,666	$	1,268,052

Long-lived assets	$	648,253	$	209,401	$	5,732	$	863,386

Goodwill	$	364,639	$	59,004	$	—	$	423,643

Capital expenditures	$	7,483	$	10,061	$	495	$	18,039

Number of operating locations at year end	171		32		—		203

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2) Allocated overhead costs include: property insurance costs, property tax expenses and corporate overhead fees allocated to the field, such as information technology, human resources, legal and finance.
(3) General and administrative expenses include: professional services, travel and meals expenses, computer software expenses and office supplies.
(4) The Corporate segment's other segment expenses primarily include general, administrative and other expenses, net loss on divestitures, disposals and impairment charges and amortization and depreciation expenses. The Funeral and Cemetery segment's other segment expenses primarily include transportation costs, other funeral costs, non-payroll related promotional costs, net loss on divestitures, disposals and impairment charges and amortization and depreciation expenses.


Year Ended December 31, 2022	Funeral		Cemetery		Corporate		Total
Revenue
Services	$	163,904	$	17,367	$	—	$	181,271
Merchandise	89,052		14,307		—		103,359
Cemetery property	—		58,611		—		58,611
Other revenue	13,947		12,986		—		26,933
Total revenue	266,903		103,271		—		370,174

Less:(1)
Salaries, benefits and commission expenses	70,142		28,940		—		99,082
Cost of merchandise	29,944		6,483		—		36,427
Allocated overhead costs(2)	11,648		3,511		—		15,159
Facilities and grounds expenses	9,919		5,268		—		15,187
General and administrative expenses(3)	9,530		2,787		—		12,317
Other segment expenses(4)	53,640		21,187		37,449		112,276
Operating income (loss)	$	82,080	$	35,095	$	(37,449)	$	79,726

Depreciation and amortization	$	11,591	$	7,584	$	624	$	19,799

Interest expense	$	753	$	—	$	25,142	$	25,895

Income (loss) before income taxes	$	85,196	$	35,126	$	(63,128)	$	57,194

Income tax expense (benefit)	$	23,555	$	9,712	$	(17,454)	$	15,813

Total assets	$	779,500	$	396,389	$	17,061	$	1,192,950

Long-lived assets	$	630,599	$	190,226	$	4,518	$	825,343

Goodwill	$	355,654	$	54,483	$	—	$	410,137

Capital expenditures	$	14,917	$	10,566	$	598	$	26,081

Number of operating locations at year end	171		32		—		203

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2) Allocated overhead costs include: property insurance costs, property tax expenses and corporate overhead fees allocated to the field, such as information technology, human resources, legal and finance.
(3) General and administrative expenses include: professional services, travel and meals expenses, computer software expenses and office supplies.
(4) The Corporate segment's other segment expenses primarily include general, administrative and other expenses, net loss on divestitures, disposals and impairment charges and amortization and depreciation expenses. The Funeral and Cemetery segment's other segment expenses primarily include transportation costs, other funeral costs, non-payroll related promotional costs, net loss on divestitures, disposals and impairment charges and amortization and depreciation expenses.