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Trust Investments (Tables)
 3 Months Ended
Mar. 31, 2025
Preneed Trust Investments [Abstract]  
Components of preneed cemetery trust investments
The components of Preneed cemetery trust investments on our Consolidated Balance Sheets are as follows (in thousands):
March 31, 2025December 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 
Cost and fair market values associated with preneed cemetery trust investments
The cost and market values associated with preneed cemetery trust investments at March 31, 2025 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$26,369 $— $— $26,369
Fixed income securities:
U.S. agency obligations2526 — (35)491
Foreign debt25,296 710 (8)5,998
Corporate debt24,278 140 (140)4,278
Preferred stock2359 1 (108)252
Certificates of deposit279 — (5)74
Common stock127,322 5,252 (3,147)29,427
Limited partnership fund3,506 — (222)3,284
Mutual funds:
Equity1533 43 (11)565
Fixed income224,979 75 (1,690)23,364
Alternative investments13,324 — — 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 cost100.8 %
The cost and market values associated with preneed cemetery trust investments at December 31, 2024 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$23,215 $— $— $23,215
Fixed income securities:
U.S. agency obligations2664 1 (46)$619
Foreign debt28,575 1,431 (8)9,998
Corporate debt28,500 365 (256)8,609
Preferred stock22,833 479 (176)3,136
Certificates of deposit279 — (5)74
Common stock129,325 4,322 (3,381)30,266
Limited partnership fund3,530 84 — 3,614
Mutual funds:
Equity1911 85 — 996
Fixed income227,268 94 (2,376)24,986
Trust securities$104,900 $6,861 $(6,248)$105,513
Accrued investment income$630 $630
Preneed cemetery trust investments$106,143
Market value as a percentage of cost100.6 %
Estimated maturities of fixed preneed cemetery trust income securities
The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands): 
Due in one year or less$— 
Due in one to five years2,895 
Due in five to ten years209 
Thereafter7,989 
Total fixed income securities$11,093 
Schedule of fair market value and unrealized loss on cemetery merchandise and service trust investments
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed cemetery trust investments in an unrealized loss position at March 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
March 31, 2025
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
U.S. agency obligations$— $— $491 $(35)$491 $(35)
Foreign debt— — 210 (8)210 (8)
Corporate debt266 (10)79 (130)345 (140)
Preferred stock13 — 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 $(296)
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed cemetery trust investments in an unrealized loss position at December 31, 2024, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
December 31, 2024
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
U.S. agency obligations$— $— $479 $(46)$479 $(46)
Foreign debt— — 211 (8)211 (8)
Corporate debt1,274 (139)94 (117)1,368 (256)
Preferred stock889 (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
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,
 20252024
Investment income$647 $539 
Realized gains2,003 10,576 
Realized losses(1,603)(3,764)
Unrealized gains (losses), net855 (6,959)
Expenses and taxes(224)(634)
Net change in deferred preneed cemetery receipts held in trust(1,678)242 
$— $— 
Purchases and sales of investments in preneed cemetary trusts
Purchases and sales of investments in the preneed cemetery trusts are as follows (in thousands):
 Three months ended March 31,
 20252024
Purchases$(3,506)$(4,326)
Sales18,069 16,560 
Components of preneed funeral trust investments
The components of Preneed funeral trust investments on our Consolidated Balance Sheets are as follows (in thousands):
March 31, 2025December 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 $106,219 
Estimated maturities of fixed preneed funeral trust income securities
The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands):
Due in one year or less$— 
Due in one to five years2,482 
Due in five to ten years96 
Thereafter7,435 
Total fixed income securities$10,013 
Cost and fair market values associated with preneed funeral trust investments
The cost and market values associated with preneed funeral trust investments at March 31, 2025 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$35,199 $— $— $35,199
Fixed income securities:
U.S agency obligations2304 — (24)280
Foreign debt25,045 682 (7)5,720
Corporate debt23,888 134 (9)4,013
Common stock124,394 4,833 (2,630)26,597
Limited partnership fund3,372 — (213)3,159
Mutual funds:
Equity1400 14 (11)403
Fixed income222,794 37 (1,493)21,338
Other investments21,884 — — 1,884
Alternative investments12,814 — — 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 cost101.2 %
The cost and market values associated with preneed funeral trust investments at December 31, 2024 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$33,735 $— $— $33,735
Fixed income securities:
U.S agency obligations2387 — (30)357
Foreign debt28,193 1,373 (7)9,559
Corporate debt27,941 351 (134)8,158
Preferred stock22,577 460 (218)2,819
Common stock126,293 3,989 (2,876)27,406
Limited partnership fund3,392 80 — 3,472
Mutual funds:
Equity1763 41 — 804
Fixed income224,952 83 (2,118)22,917
Other investments21,910 — — 1,910
Trust securities$110,143 $6,377 $(5,383)$111,137
Accrued investment income$584 $584
Preneed cemetery trust investments$111,721
Market value as a percentage of cost100.9 %
Schedule of fair market value and unrealized loss on preneed funeral trust investments
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed funeral trust investment in an unrealized loss position at March 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
March 31, 2025
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
U.S agency obligations$— $— $280 $(24)$280 $(24)
Foreign debt— — 202 (7)202 (7)
Corporate debt256 (9)— — 256 (9)
Total fixed income securities with an unrealized loss$256 $(9)$482 $(31)$738 $(40)
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed funeral trust investment in an unrealized loss position at December 31, 2024, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
December 31, 2024
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
U.S agency obligations$— $— $274 $(30)$274 $(30)
Foreign debt— — 203 (7)203 (7)
Corporate debt1,225 (133)— (1)1,225 (134)
Preferred stock842 (4)717 (214)1,559 (218)
Total fixed income securities with an unrealized loss$2,067 $(137)$1,194 $(252)$3,261 $(389)
Purchases and sales of investments in preneed funeral trusts
Purchases and sales of investments in the preneed funeral trusts are as follows (in thousands):
 Three months ended March 31,
 20252024
Purchases$(3,372)$(4,003)
Sales17,359 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, 2025December 31, 2024
Cemetery perpetual care trust investments, at market value$88,946 $87,337 
Obligations due to (due from) trust14 (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 LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$15,220 $— $— $15,220
Fixed income securities:
Foreign debt25,005 647 (7)5,645
Corporate debt24,334 165 (322)4,177
Preferred stock2567 — (71)496
Common stock124,278 4,772 (2,859)26,191
Limited partnership fund3,122 — (198)2,924
Mutual funds:
Equity1467 33 (10)490
Fixed income222,784 102 (1,564)21,322
Alternative investments11,862 — — 11,862
Trust securities$87,639 $5,719 $(5,031)$88,327
Accrued investment income$619 $619
Preneed cemetery trust investments$88,946
Market value as a percentage of cost100.8 %
The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands):
Due in one year or less$— 
Due in one to five years2,410 
Due in five to ten years289 
Thereafter7,619 
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 LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$14,054 $— $— $14,054
Fixed income securities:
Foreign debt27,770 1,262 (7)9,025
Corporate debt27,942 357 (402)7,897
Preferred stock22,725 418 (148)2,995
Common stock125,563 3,866 (3,036)26,393
Limited partnership fund3,078 73 — 3,151
Mutual funds:
Equity1789 68 — 857
Fixed income224,374 111 (2,115)22,370
Trust securities$86,295 $6,155 $(5,708)$86,742
Accrued investment income$595 $595
Preneed cemetery trust investments$87,337
Market value as a percentage of cost100.5 %
The following table summarizes our fixed income securities (excluding mutual funds) within our perpetual care trust investment in an unrealized loss position at March 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
March 31, 2025
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
Foreign debt$— $— $187 $(7)$187 $(7)
Corporate debt237 (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 $(400)
The following table summarizes our fixed income securities within our perpetual care trust investment in an unrealized loss position at December 31, 2024, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
December 31, 2024
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
Foreign debt$— $— $184 $(7)$184 $(7)
Corporate debt1,111 (121)316 (281)1,427 (402)
Preferred stock764 (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,
 20252024
Realized gains$251 $1,306 
Realized losses(201)(426)
Unrealized gains (losses), net688 (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,
20252024
Investment income$2,487 $3,129 
Realized losses(672)(374)
Total$1,815 $2,755 
Purchases and sales of investments in the perpetual care trusts are as follows (in thousands):
Three months ended March 31,
 20252024
Purchases$(3,122)$(3,649)
Sales15,963 14,661 
Preneed funereal trust investment security transactions
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,
 20252024
Investment income$473 $436 
Realized gains1,927 9,780 
Realized losses(1,709)(3,209)
Unrealized gains (losses), net1,313 (5,848)
Expenses and taxes(105)(371)
Net change in deferred preneed funeral receipts held in trust(1,899)(788)
$— $—