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Trust Investments | 3 Months Ended
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Mar. 31, 2025
Preneed Trust Investments [Abstract] |
TRUST INVESTMENTS | TRUST INVESTMENTS Preneed trust investments represent trust fund assets that we are generally permitted to withdraw as the services and merchandise are provided to customers. Preneed funeral and cemetery contracts are secured by payments from customers, less amounts not required by law to be deposited into trust. These earnings are recognized in Other revenue on our Consolidated Statements of Operations, when a service is performed or merchandise is delivered. Trust management fees charged by our wholly owned registered investment advisory firm (“CSV RIA”) are included as revenue in the period in which they are earned. Our investments are diversified across multiple industry segments using a balanced allocation strategy to minimize long-term risk. We do not intend to sell and it is likely that we will not be required to sell the securities prior to their anticipated recovery. Cemetery perpetual care trust investments represent a portion of the proceeds from the sale of cemetery property interment rights that we are required by various state laws to deposit into perpetual care trust funds. The income earned from these perpetual care trusts offsets maintenance expenses for cemetery property and memorials. This trust fund income is recognized in Other revenue. Changes in the fair value of our trust fund assets (Preneed funeral, cemetery and perpetual care trust investments) are offset by changes in the fair value of our trust fund liabilities (Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus) and reflected in Other, net. There is no impact on earnings until such time the services are performed, or the merchandise is delivered, causing the contract to be withdrawn from the trust in accordance with state regulations and the gain or loss is allocated to the contract. We rely on our trust investments to provide funding for the various contractual obligations that arise upon maturity of the underlying preneed contracts. Because of the long-term relationship between the establishment of trust investments and the required performance of the underlying contractual obligations, the impact of current market conditions that may exist at any given time is not necessarily indicative of our ability to generate profit on our future performance obligations. Preneed Cemetery Trust Investments The components of Preneed cemetery trust investments on our Consolidated Balance Sheets are as follows (in thousands):
| March 31, 2025 |  | December 31, 2024
Preneed cemetery trust investments, at market value | $ | 108,073 |  |  | $ | 106,143 |
Less: allowance for contract cancellation | (3,197) |  |  | (3,147) |
Preneed cemetery trust investments | $ | 104,876 |  |  | $ | 102,996 |
Less: Held for sale | (1,059) |  |  | (4,876) |
Preneed cemetery trust investments | $ | 103,817 |  |  | $ | 98,120 |
The cost and market values associated with preneed cemetery trust investments at March 31, 2025 are detailed below (in thousands):
| Fair Value Hierarchy Level |  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Market Value
Cash and money market accounts | 1 |  | $ | 26,369 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,369
Fixed income securities: |  |  |  |  |  |  |  |  |
U.S. agency obligations | 2 |  | 526 |  |  | — |  |  | (35) |  |  | 491
Foreign debt | 2 |  | 5,296 |  |  | 710 |  |  | (8) |  |  | 5,998
Corporate debt | 2 |  | 4,278 |  |  | 140 |  |  | (140) |  |  | 4,278
Preferred stock | 2 |  | 359 |  |  | 1 |  |  | (108) |  |  | 252
Certificates of deposit | 2 |  | 79 |  |  | — |  |  | (5) |  |  | 74
Common stock | 1 |  | 27,322 |  |  | 5,252 |  |  | (3,147) |  |  | 29,427
Limited partnership fund |  |  | 3,506 |  |  | — |  |  | (222) |  |  | 3,284
Mutual funds: |  |  |  |  |  |  |  |  |
Equity | 1 |  | 533 |  |  | 43 |  |  | (11) |  |  | 565
Fixed income | 2 |  | 24,979 |  |  | 75 |  |  | (1,690) |  |  | 23,364
Alternative investments |  |  | 13,324 |  |  | — |  |  | — |  |  | 13,324
Trust securities |  |  | $ | 106,571 |  |  | $ | 6,221 |  |  | $ | (5,366) |  |  | $ | 107,426
Accrued investment income |  |  | $ | 647 |  |  |  |  |  |  | $ | 647
Preneed cemetery trust investments |  |  |  |  |  |  |  |  | $ | 108,073
Market value as a percentage of cost |  |  |  |  |  |  |  |  | 100.8 | %
The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands):
Due in one year or less | $ | — |
Due in one to five years | 2,895 |
Due in five to ten years | 209 |
Thereafter | 7,989 |
Total fixed income securities | $ | 11,093 |
The cost and market values associated with preneed cemetery trust investments at December 31, 2024 are detailed below (in thousands):
| Fair Value Hierarchy Level |  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Market Value
Cash and money market accounts | 1 |  | $ | 23,215 |  |  | $ | — |  |  | $ | — |  |  | $ | 23,215
Fixed income securities: |  |  |  |  |  |  |  |  |
U.S. agency obligations | 2 |  | 664 |  |  | 1 |  |  | (46) |  |  | $ | 619
Foreign debt | 2 |  | 8,575 |  |  | 1,431 |  |  | (8) |  |  | 9,998
Corporate debt | 2 |  | 8,500 |  |  | 365 |  |  | (256) |  |  | 8,609
Preferred stock | 2 |  | 2,833 |  |  | 479 |  |  | (176) |  |  | 3,136
Certificates of deposit | 2 |  | 79 |  |  | — |  |  | (5) |  |  | 74
Common stock | 1 |  | 29,325 |  |  | 4,322 |  |  | (3,381) |  |  | 30,266
Limited partnership fund |  |  | 3,530 |  |  | 84 |  |  | — |  |  | 3,614
Mutual funds: |  |  |  |  |  |  |  |  |
Equity | 1 |  | 911 |  |  | 85 |  |  | — |  |  | 996
Fixed income | 2 |  | 27,268 |  |  | 94 |  |  | (2,376) |  |  | 24,986
Trust securities |  |  | $ | 104,900 |  |  | $ | 6,861 |  |  | $ | (6,248) |  |  | $ | 105,513
Accrued investment income |  |  | $ | 630 |  |  |  |  |  |  | $ | 630
Preneed cemetery trust investments |  |  |  |  |  |  |  |  | $ | 106,143
Market value as a percentage of cost |  |  |  |  |  |  |  |  | 100.6 | %
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed cemetery trust investments in an unrealized loss position at March 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
| March 31, 2025
| In Loss Position Less than 12 months |  | In Loss Position Greater than 12 months |  | Total
| Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |
U.S. agency obligations | $ | — |  |  | $ | — |  |  | $ | 491 |  |  | $ | (35) |  |  | $ | 491 |  |  | $ | (35) |
Foreign debt | — |  |  | — |  |  | 210 |  |  | (8) |  |  | 210 |  |  | (8) |
Corporate debt | 266 |  |  | (10) |  |  | 79 |  |  | (130) |  |  | 345 |  |  | (140) |
Preferred stock | 13 |  |  | — |  |  | 194 |  |  | (108) |  |  | 207 |  |  | (108) |
Certificates of deposit | — |  |  | — |  |  | 74 |  |  | (5) |  |  | 74 |  |  | (5) |
Total fixed income securities with an unrealized loss | $ | 279 |  |  | $ | (10) |  |  | $ | 1,048 |  |  | $ | (286) |  |  | $ | 1,327 |  |  | $ | (296) |
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed cemetery trust investments in an unrealized loss position at December 31, 2024, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
| December 31, 2024
| In Loss Position Less than 12 months |  | In Loss Position Greater than 12 months |  | Total
| Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |
U.S. agency obligations | $ | — |  |  | $ | — |  |  | $ | 479 |  |  | $ | (46) |  |  | $ | 479 |  |  | $ | (46) |
Foreign debt | — |  |  | — |  |  | 211 |  |  | (8) |  |  | 211 |  |  | (8) |
Corporate debt | 1,274 |  |  | (139) |  |  | 94 |  |  | (117) |  |  | 1,368 |  |  | (256) |
Preferred stock | 889 |  |  | (5) |  |  | 891 |  |  | (171) |  |  | 1,780 |  |  | (176) |
Certificates of deposit | — |  |  | — |  |  | 74 |  |  | (5) |  |  | 74 |  |  | (5) |
Total fixed income securities with an unrealized loss | $ | 2,163 |  |  | $ | (144) |  |  | $ | 1,749 |  |  | $ | (347) |  |  | $ | 3,912 |  |  | $ | (491) |
Preneed cemetery trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations are as follows (in thousands):
|  |  |  | Three months ended March 31,
|  |  |  |  |  | 2025 |  | 2024 |  |
Investment income |  |  |  |  |  | $ | 647 |  |  | $ | 539 |  |  |
Realized gains |  |  |  |  |  | 2,003 |  |  | 10,576 |  |  |
Realized losses |  |  |  |  |  | (1,603) |  |  | (3,764) |  |  |
Unrealized gains (losses), net |  |  |  |  |  | 855 |  |  | (6,959) |  |  |
Expenses and taxes |  |  |  |  |  | (224) |  |  | (634) |  |  |
Net change in deferred preneed cemetery receipts held in trust |  |  |  |  |  | (1,678) |  |  | 242 |  |  |
|  |  |  |  |  | $ | — |  |  | $ | — |  |  |
Purchases and sales of investments in the preneed cemetery trusts are as follows (in thousands):
|  | Three months ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |  |  |
Purchases |  | $ | (3,506) |  |  | $ | (4,326) |  |  |  |  |  |  |
Sales |  | 18,069 |  |  | 16,560 |  |  |  |  |  |  |
Preneed Funeral Trust Investments Preneed funeral trust investments represent trust fund assets that we are permitted to withdraw as services and merchandise are provided to customers. Preneed funeral contracts are secured by payments from customers, less retained amounts not required to be deposited into trust. The components of Preneed funeral trust investments on our Consolidated Balance Sheets are as follows (in thousands):
| March 31, 2025 |  | December 31, 2024
Preneed funeral trust investments, at market value | $ | 111,997 |  |  | $ | 111,721 |
Less: allowance for contract cancellation | (3,302) |  |  | (3,305) |
Preneed funeral trust investments | $ | 108,695 |  |  | $ | 108,416 |
Less: Held for sale | (405) |  |  | (2,197) |
Preneed funeral trust investments | $ | 108,290 |  |  | $ | 106,219 |
The cost and market values associated with preneed funeral trust investments at March 31, 2025 are detailed below (in thousands):
| Fair Value Hierarchy Level |  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Market Value |
Cash and money market accounts | 1 |  | $ | 35,199 |  |  | $ | — |  |  | $ | — |  |  | $ | 35,199 |
Fixed income securities: |  |  |  |  |  |  |  |  |  |
U.S agency obligations | 2 |  | 304 |  |  | — |  |  | (24) |  |  | 280 |
Foreign debt | 2 |  | 5,045 |  |  | 682 |  |  | (7) |  |  | 5,720 |
Corporate debt | 2 |  | 3,888 |  |  | 134 |  |  | (9) |  |  | 4,013 |
Common stock | 1 |  | 24,394 |  |  | 4,833 |  |  | (2,630) |  |  | 26,597 |
Limited partnership fund |  |  | 3,372 |  |  | — |  |  | (213) |  |  | 3,159 |
Mutual funds: |  |  |  |  |  |  |  |  |  |
Equity | 1 |  | 400 |  |  | 14 |  |  | (11) |  |  | 403 |
Fixed income | 2 |  | 22,794 |  |  | 37 |  |  | (1,493) |  |  | 21,338 |
Other investments | 2 |  | 1,884 |  |  | — |  |  | — |  |  | 1,884 |
Alternative investments |  |  | 12,814 |  |  | — |  |  | — |  |  | 12,814 |
Trust securities |  |  | $ | 110,094 |  |  | $ | 5,700 |  |  | $ | (4,387) |  |  | $ | 111,407 |
Accrued investment income |  |  | $ | 590 |  |  |  |  |  |  | $ | 590 |
Preneed cemetery trust investments |  |  |  |  |  |  |  |  | $ | 111,997 |
Market value as a percentage of cost |  |  |  |  |  |  |  |  | 101.2 | % |
The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands):
Due in one year or less | $ | — |
Due in one to five years | 2,482 |
Due in five to ten years | 96 |
Thereafter | 7,435 |
Total fixed income securities | $ | 10,013 |
The cost and market values associated with preneed funeral trust investments at December 31, 2024 are detailed below (in thousands):
| Fair Value Hierarchy Level |  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Market Value |
Cash and money market accounts | 1 |  | $ | 33,735 |  |  | $ | — |  |  | $ | — |  |  | $ | 33,735 |
Fixed income securities: |  |  |  |  |  |  |  |  |  |
U.S agency obligations | 2 |  | 387 |  |  | — |  |  | (30) |  |  | 357 |
Foreign debt | 2 |  | 8,193 |  |  | 1,373 |  |  | (7) |  |  | 9,559 |
Corporate debt | 2 |  | 7,941 |  |  | 351 |  |  | (134) |  |  | 8,158 |
Preferred stock | 2 |  | 2,577 |  |  | 460 |  |  | (218) |  |  | 2,819 |
Common stock | 1 |  | 26,293 |  |  | 3,989 |  |  | (2,876) |  |  | 27,406 |
Limited partnership fund |  |  | 3,392 |  |  | 80 |  |  | — |  |  | 3,472 |
Mutual funds: |  |  |  |  |  |  |  |  |  |
Equity | 1 |  | 763 |  |  | 41 |  |  | — |  |  | 804 |
Fixed income | 2 |  | 24,952 |  |  | 83 |  |  | (2,118) |  |  | 22,917 |
Other investments | 2 |  | 1,910 |  |  | — |  |  | — |  |  | 1,910 |
Trust securities |  |  | $ | 110,143 |  |  | $ | 6,377 |  |  | $ | (5,383) |  |  | $ | 111,137 |
Accrued investment income |  |  | $ | 584 |  |  |  |  |  |  | $ | 584 |
Preneed cemetery trust investments |  |  |  |  |  |  |  |  | $ | 111,721 |
Market value as a percentage of cost |  |  |  |  |  |  |  |  | 100.9 | % |
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed funeral trust investment in an unrealized loss position at March 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
| March 31, 2025 |
| In Loss Position Less than 12 months |  | In Loss Position Greater than 12 months |  | Total |
| Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S agency obligations | $ | — |  |  | $ | — |  |  | $ | 280 |  |  | $ | (24) |  |  | $ | 280 |  |  | $ | (24) |  |
Foreign debt | — |  |  | — |  |  | 202 |  |  | (7) |  |  | 202 |  |  | (7) |  |
Corporate debt | 256 |  |  | (9) |  |  | — |  |  | — |  |  | 256 |  |  | (9) |  |
Total fixed income securities with an unrealized loss | $ | 256 |  |  | $ | (9) |  |  | $ | 482 |  |  | $ | (31) |  |  | $ | 738 |  |  | $ | (40) |  |
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed funeral trust investment in an unrealized loss position at December 31, 2024, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
| December 31, 2024 |
| In Loss Position Less than 12 months |  | In Loss Position Greater than 12 months |  | Total |
| Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S agency obligations | $ | — |  |  | $ | — |  |  | $ | 274 |  |  | $ | (30) |  |  | $ | 274 |  |  | $ | (30) |  |
Foreign debt | — |  |  | — |  |  | 203 |  |  | (7) |  |  | 203 |  |  | (7) |  |
Corporate debt | 1,225 |  |  | (133) |  |  | — |  |  | (1) |  |  | 1,225 |  |  | (134) |  |
Preferred stock | 842 |  |  | (4) |  |  | 717 |  |  | (214) |  |  | 1,559 |  |  | (218) |  |
Total fixed income securities with an unrealized loss | $ | 2,067 |  |  | $ | (137) |  |  | $ | 1,194 |  |  | $ | (252) |  |  | $ | 3,261 |  |  | $ | (389) |  |
Preneed funeral trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations are as follows (in thousands):
|  | Three months ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |  |  |
Investment income |  | $ | 473 |  |  | $ | 436 |  |  |  |  |  |  |
Realized gains |  | 1,927 |  |  | 9,780 |  |  |  |  |  |  |
Realized losses |  | (1,709) |  |  | (3,209) |  |  |  |  |  |  |
Unrealized gains (losses), net |  | 1,313 |  |  | (5,848) |  |  |  |  |  |  |
Expenses and taxes |  | (105) |  |  | (371) |  |  |  |  |  |  |
Net change in deferred preneed funeral receipts held in trust |  | (1,899) |  |  | (788) |  |  |  |  |  |  |
|  | $ | — |  |  | $ | — |  |  |  |  |  |  |
Purchases and sales of investments in the preneed funeral trusts are as follows (in thousands):
|  | Three months ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |  |  |
Purchases |  | $ | (3,372) |  |  | $ | (4,003) |  |  |  |  |  |  |
Sales |  | 17,359 |  |  | 15,118 |  |  |  |  |  |  |
Cemetery Perpetual Care Trust Investments Care trusts’ corpus on our Consolidated Balance Sheets represent the corpus of those trusts plus undistributed income. The components of Care trusts’ corpus are as follows (in thousands):
| March 31, 2025 |  | December 31, 2024
Cemetery perpetual care trust investments, at market value | $ | 88,946 |  |  | $ | 87,337 |
Obligations due to (due from) trust | 14 |  |  | (885) |
Care trusts’ corpus, including HFS | $ | 88,960 |  |  | $ | 86,452 |
Less: Held for sale | (322) |  |  | (2,234) |
Care trusts' corpus | $ | 88,638 |  |  | $ | 84,218 |
The following table reflects the cost and market values associated with the trust investments held in perpetual care trust funds at March 31, 2025 (in thousands):
| Fair Value Hierarchy Level |  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Market Value |
Cash and money market accounts | 1 |  | $ | 15,220 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,220 |
Fixed income securities: |  |  |  |  |  |  |  |  |  |
Foreign debt | 2 |  | 5,005 |  |  | 647 |  |  | (7) |  |  | 5,645 |
Corporate debt | 2 |  | 4,334 |  |  | 165 |  |  | (322) |  |  | 4,177 |
Preferred stock | 2 |  | 567 |  |  | — |  |  | (71) |  |  | 496 |
Common stock | 1 |  | 24,278 |  |  | 4,772 |  |  | (2,859) |  |  | 26,191 |
Limited partnership fund |  |  | 3,122 |  |  | — |  |  | (198) |  |  | 2,924 |
Mutual funds: |  |  |  |  |  |  |  |  |  |
Equity | 1 |  | 467 |  |  | 33 |  |  | (10) |  |  | 490 |
Fixed income | 2 |  | 22,784 |  |  | 102 |  |  | (1,564) |  |  | 21,322 |
Alternative investments |  |  | 11,862 |  |  | — |  |  | — |  |  | 11,862 |
Trust securities |  |  | $ | 87,639 |  |  | $ | 5,719 |  |  | $ | (5,031) |  |  | $ | 88,327 |
Accrued investment income |  |  | $ | 619 |  |  |  |  |  |  | $ | 619 |
Preneed cemetery trust investments |  |  |  |  |  |  |  |  | $ | 88,946 |
Market value as a percentage of cost |  |  |  |  |  |  |  |  | 100.8 | % |
The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands):
Due in one year or less | $ | — |
Due in one to five years | 2,410 |
Due in five to ten years | 289 |
Thereafter | 7,619 |
Total fixed income securities | $ | 10,318 |
The following table reflects the cost and market values associated with the trust investments held in perpetual care trust funds at December 31, 2024 (in thousands):
| Fair Value Hierarchy Level |  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Market Value |
Cash and money market accounts | 1 |  | $ | 14,054 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,054 |
Fixed income securities: |  |  |  |  |  |  |  |  |  |
Foreign debt | 2 |  | 7,770 |  |  | 1,262 |  |  | (7) |  |  | 9,025 |
Corporate debt | 2 |  | 7,942 |  |  | 357 |  |  | (402) |  |  | 7,897 |
Preferred stock | 2 |  | 2,725 |  |  | 418 |  |  | (148) |  |  | 2,995 |
Common stock | 1 |  | 25,563 |  |  | 3,866 |  |  | (3,036) |  |  | 26,393 |
Limited partnership fund |  |  | 3,078 |  |  | 73 |  |  | — |  |  | 3,151 |
Mutual funds: |  |  |  |  |  |  |  |  |  |
Equity | 1 |  | 789 |  |  | 68 |  |  | — |  |  | 857 |
Fixed income | 2 |  | 24,374 |  |  | 111 |  |  | (2,115) |  |  | 22,370 |
Trust securities |  |  | $ | 86,295 |  |  | $ | 6,155 |  |  | $ | (5,708) |  |  | $ | 86,742 |
Accrued investment income |  |  | $ | 595 |  |  |  |  |  |  | $ | 595 |
Preneed cemetery trust investments |  |  |  |  |  |  |  |  | $ | 87,337 |
Market value as a percentage of cost |  |  |  |  |  |  |  |  | 100.5 | % |
The following table summarizes our fixed income securities (excluding mutual funds) within our perpetual care trust investment in an unrealized loss position at March 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
| March 31, 2025 |
| In Loss Position Less than 12 months |  | In Loss Position Greater than 12 months |  | Total |
| Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign debt | $ | — |  |  | $ | — |  |  | $ | 187 |  |  | $ | (7) |  |  | $ | 187 |  |  | $ | (7) |  |
Corporate debt | 237 |  |  | (8) |  |  | 282 |  |  | (314) |  |  | 519 |  |  | (322) |  |
Preferred stock | — |  |  | — |  |  | 496 |  |  | (71) |  |  | 496 |  |  | (71) |  |
Total fixed income securities with an unrealized loss | $ | 237 |  |  | $ | (8) |  |  | $ | 965 |  |  | $ | (392) |  |  | $ | 1,202 |  |  | $ | (400) |  |
The following table summarizes our fixed income securities within our perpetual care trust investment in an unrealized loss position at December 31, 2024, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
| December 31, 2024 |
| In Loss Position Less than 12 months |  | In Loss Position Greater than 12 months |  | Total |
| Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |  | Fair market value |  | Unrealized Losses |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign debt | $ | — |  |  | $ | — |  |  | $ | 184 |  |  | $ | (7) |  |  | $ | 184 |  |  | $ | (7) |  |
Corporate debt | 1,111 |  |  | (121) |  |  | 316 |  |  | (281) |  |  | 1,427 |  |  | (402) |  |
Preferred stock | 764 |  |  | (4) |  |  | 1,086 |  |  | (144) |  |  | 1,850 |  |  | (148) |  |
Total fixed income securities with an unrealized loss | $ | 1,875 |  |  | $ | (125) |  |  | $ | 1,586 |  |  | $ | (432) |  |  | $ | 3,461 |  |  | $ | (557) |  |
Perpetual care trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations are as follows (in thousands):
|  | Three months ended March 31, |  |  |
|  | 2025 |  | 2024 |  |  |  |  |  |  |
Realized gains |  | $ | 251 |  |  | $ | 1,306 |  |  |  |  |  |  |  |
Realized losses |  | (201) |  |  | (426) |  |  |  |  |  |  |  |
Unrealized gains (losses), net |  | 688 |  |  | (6,069) |  |  |  |  |  |  |  |
Net change in care trusts’ corpus |  | (738) |  |  | 5,189 |  |  |  |  |  |  |  |
|  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |
Perpetual care trust investment security transactions recorded in Other revenue are as follows (in thousands):
|  | Three months ended March 31, |  |  |
|  | 2025 |  | 2024 |  |  |  |  |  |  |
Investment income |  | $ | 2,487 |  |  | $ | 3,129 |  |  |  |  |  |  |  |
Realized losses |  | (672) |  |  | (374) |  |  |  |  |  |  |  |
Total |  | $ | 1,815 |  |  | $ | 2,755 |  |  |  |  |  |  |  |
Purchases and sales of investments in the perpetual care trusts are as follows (in thousands):
|  | Three months ended March 31, |  |  |
|  | 2025 |  | 2024 |  |  |  |  |  |  |
Purchases |  | $ | (3,122) |  |  | $ | (3,649) |  |  |  |  |  |  |  |
Sales |  | 15,963 |  |  | 14,661 |  |  |  |  |  |  |  |

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- Definition PRENEED TRUST INVESTMENTS + References No definition available. + Details
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Namespace Prefix: | csv_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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- Definition This note represents disclosures relating to preneed funeral and cemetery activity and major accounts which also include: (1) fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments; (2) variable interest entities; and (3)all other required (as defined) and desired information. + References No definition available. + Details
Name: | csv_PreneedTrustInvestmentsTextBlock
Namespace Prefix: | csv_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration