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Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
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 three months ended March 31, 2025 and 2024, respectively:
Three months ended, March 31, 2025 | Funeral |  | Cemetery |  | Corporate |  | Total
Revenue |  |  |  |  |  |  |
Services | $ | 47,949 |  |  | $ | 5,061 |  |  | $ | — |  |  | $ | 53,010 |
Merchandise | 21,556 |  |  | 4,039 |  |  | — |  |  | 25,595 |
Cemetery property | — |  |  | 19,991 |  |  | — |  |  | 19,991 |
Other revenue | 5,114 |  |  | 3,359 |  |  | — |  |  | 8,473 |
Total revenue | 74,619 |  |  | 32,450 |  |  | — |  |  | 107,069 |
Less:(1) |  |  |  |  |  |  |
Salaries, benefits and commission expenses | 17,977 |  |  | 9,919 |  |  | — |  |  | 27,896 |
Cost of merchandise | 8,132 |  |  | 1,331 |  |  | — |  |  | 9,463 |
Allocated overhead costs(2) | 3,227 |  |  | 1,331 |  |  | — |  |  | 4,558 |
Facilities and grounds expenses | 2,929 |  |  | 1,205 |  |  | — |  |  | 4,134 |
General and administrative expenses(3) | 3,021 |  |  | 895 |  |  | — |  |  | 3,916 |
Other segment expenses(4) | 11,146 |  |  | 2,344 |  |  | 12,048 |  |  | 25,538 |
Operating income (loss) | $ | 28,187 |  |  | $ | 15,425 |  |  | $ | (12,048) |  |  | $ | 31,564 |
Interest expense | $ | 280 |  |  | $ | 3 |  |  | $ | 7,015 |  |  | $ | 7,298 |
Depreciation and amortization | $ | 2,826 |  |  | $ | 2,324 |  |  | $ | 251 |  |  | $ | 5,401 |
Income (loss) before income taxes | $ | 30,069 |  |  | $ | 16,016 |  |  | $ | (19,831) |  |  | $ | 26,254 |
Income tax expense (benefit) | $ | 6,104 |  |  | $ | 3,251 |  |  | $ | (4,027) |  |  | $ | 5,328 |
Total assets | $ | 777,995 |  |  | $ | 470,875 |  |  | $ | 26,359 |  |  | $ | 1,275,229 |
Long-lived assets | $ | 624,384 |  |  | $ | 200,427 |  |  | $ | 11,247 |  |  | $ | 836,058 |
Goodwill | $ | 354,314 |  |  | $ | 56,389 |  |  | $ | — |  |  | $ | 410,703 |
Capital expenditures | $ | 727 |  |  | $ | 1,852 |  |  | $ | 584 |  |  | $ | 3,163 |
Number of operating locations at year end | 160 |  |  | 28 |  |  | — |  |  | 188 |
(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the Chief Operating Decision Maker ("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.
Three months ended March 31, 2024 | Funeral |  | Cemetery |  | Corporate |  | Total
Revenue |  |  |  |  |  |  |
Services | $ | 44,807 |  |  | $ | 4,892 |  |  | $ | — |  |  | $ | 49,699 |
Merchandise | 22,659 |  |  | 4,140 |  |  | — |  |  | 26,799 |
Cemetery property | — |  |  | 18,703 |  |  | — |  |  | 18,703 |
Other revenue | 4,365 |  |  | 3,927 |  |  | — |  |  | 8,292 |
Total revenue | 71,831 |  |  | 31,662 |  |  | — |  |  | 103,493 |
Less:(1) |  |  |  |  |  |  |
Salaries, benefits and commission expenses | 18,298 |  |  | 8,897 |  |  | — |  |  | 27,195 |
Cost of merchandise | 7,843 |  |  | 1,156 |  |  | — |  |  | 8,999 |
Allocated overhead costs(2) | 3,296 |  |  | 1,156 |  |  | — |  |  | 4,452 |
Facilities and grounds expenses | 2,694 |  |  | 1,180 |  |  | — |  |  | 3,874 |
General and administrative expenses(3) | 2,773 |  |  | 923 |  |  | — |  |  | 3,696 |
Other segment expenses(4) | 13,853 |  |  | 5,708 |  |  | 16,239 |  |  | 35,800 |
Operating income (loss) | $ | 23,074 |  |  | $ | 12,642 |  |  | $ | (16,239) |  |  | $ | 19,477 |
Interest expense | $ | 225 |  |  | $ | 4 |  |  | $ | 8,483 |  |  | $ | 8,712 |
Depreciation and amortization | $ | 2,968 |  |  | $ | 2,255 |  |  | $ | 237 |  |  | $ | 5,460 |
Income (loss) before income taxes | $ | 22,869 |  |  | $ | 12,709 |  |  | $ | (24,856) |  |  | $ | 10,722 |
Income tax expense (benefit) | $ | 7,996 |  |  | $ | 4,444 |  |  | $ | (8,691) |  |  | $ | 3,749 |
Total assets | $ | 790,358 |  |  | $ | 452,517 |  |  | $ | 17,644 |  |  | $ | 1,260,519 |
Long-lived assets | $ | 635,574 |  |  | $ | 207,062 |  |  | $ | 6,099 |  |  | $ | 848,735 |
Goodwill | $ | 356,878 |  |  | $ | 58,017 |  |  | $ | — |  |  | $ | 414,895 |
Capital expenditures | $ | 1,168 |  |  | $ | 2,233 |  |  | $ | 150 |  |  | $ | 3,551 |
Number of operating locations at year end | 165 |  |  | 31 |  |  | — |  |  | 196 |
(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.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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