XML 25 R15.htm IDEA: XBRL DOCUMENT v3.25.3

Trust Investments

9 Months Ended

Sep. 30, 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 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on earnings until such time the services are performed, or the merchandise is delivered, causing the contract to be withdrawn from the trust in accordance with state regulations and the gain or loss is allocated to the contract.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):

			September 30, 2025						December 31, 2024
Preneed cemetery trust investments, at market value			$	105,177					$	106,143
Less: allowance for contract cancellation			(3,166)						(3,147)
Preneed cemetery trust investments			$	102,011					$	102,996
Less: Held for sale			—						(4,876)
Preneed cemetery trust investments			$	102,011					$	98,120

The cost and market values associated with preneed cemetery trust investments at September 30, 2025, are detailed below (in thousands):

			Fair Value Hierarchy Level						Cost						Unrealized Gains						Unrealized Losses						Fair Market Value
Cash and money market accounts			1						$	15,487					$	—					$	—					$	15,487
Fixed income securities:
U.S. agency obligations			2						526						—						(25)						501
Foreign debt			2						—						—						—						—
Corporate debt			2						—						—						—						—
Preferred stock			2						—						—						—						—
Certificates of deposit			2						79						—						(4)						75
Common stock			1						11,842						727						(1,653)						10,916
Limited partnership fund									3,575						—						(162)						3,413
Mutual funds:
Equity			1						3,053						—						(59)						2,994
Fixed income			2						43,123						459						(10)						43,572
Alternative investments									27,854						313						(54)						28,113
Trust securities									$	105,539					$	1,499					$	(1,967)					$	105,071
Accrued investment income									$	106																	$	106
Preneed cemetery trust investments																											$	105,177
Market value as a percentage of cost																											99.6		%

The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands): 

Due in one year or less			$	75
Due in one to five years			332
Due in five to ten years			169
Thereafter			—
Total fixed income securities			$	576

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 September 30, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):

			September 30, 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			$	—					$	—					$	501					$	(25)					$	501					$	(25)
Foreign debt			—						—						—						—						—						—
Corporate debt			—						—						—						—						—						—
Preferred stock			—						—						—						—						—						—
Certificates of deposit			—						—						75						(4)						75						(4)
Total fixed income securities with an unrealized loss			$	—					$	—					$	576					$	(29)					$	576					$	(29)

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 September 30,												Nine months ended September 30,
						2025						2024						2025						2024
Investment income						$	626					$	647					$	2,043					$	2,030
Realized gains						1,807						—						10,009						11,500
Realized losses						(656)						—						(7,753)						(8,511)
Unrealized gains (losses), net						(437)						2,151						(468)						(2,785)
Expenses and taxes						(557)						(365)						(1,366)						(1,704)
Net change in deferred preneed cemetery receipts held in trust						(783)						(2,433)						(2,465)						(530)
						$	—					$	—					$	—					$	—

Purchases and sales of investments in the preneed cemetery trusts are as follows (in thousands):

						Three months ended September 30,												Nine months ended September 30,
						2025						2024						2025						2024
Purchases						$	(19,372)					$	—					$	(61,050)					$	(11,110)
Sales						19,955						—						67,957						21,737

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):

			September 30, 2025						December 31, 2024
Preneed funeral trust investments, at market value			$	125,533					$	111,721
Less: allowance for contract cancellation			(3,684)						(3,305)
Preneed funeral trust investments			$	121,849					$	108,416
Less: Held for sale			—						(2,197)
Preneed funeral trust investments			$	121,849					$	106,219

The cost and market values associated with preneed funeral trust investments at September 30, 2025 are detailed below (in thousands):

			Fair Value Hierarchy Level						Cost						Unrealized Gains						Unrealized Losses						Fair Market Value
Cash and money market accounts			1						$	25,879					$	—					$	—					$	25,879
Fixed income securities:
U.S agency obligations			2						305						—						(19)						286
Foreign debt			2						—						—						—						—
Corporate debt			2						192						4						—						196
Common stock			1						16,077						3,245						(1,775)						17,547
Limited partnership fund									3,270						—						(148)						3,122
Mutual funds:
Equity			1						7,454						1,366						(87)						8,733
Fixed income			2						42,400						393						(589)						42,204
Other investments			2						1,765						—						—						1,765
Alternative investments									25,475						286						(50)						25,711
Trust securities									$	122,817					$	5,294					$	(2,668)					$	125,443
Accrued investment income									$	90																	$	90
Preneed cemetery trust investments																											$	125,533
Market value as a percentage of cost																											102.1		%

The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands):

Due in one year or less			$	50
Due in one to five years			333
Due in five to ten years			99
Thereafter			—
Total fixed income securities			$	482

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 September 30, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):

			September 30, 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			$	—					$	—					$	286					$	(19)					$	286					$	(19)
Foreign debt			—						—						—						—						—						—
Corporate debt			—						—						—						—						—						—
Preferred stock			—						—						—						—						—						—
Total fixed income securities with an unrealized loss			$	—					$	—					$	286					$	(19)					$	286					$	(19)

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 September 30,												Nine months ended September 30,
						2025						2024						2025						2024
Investment income						$	491					$	486					1,485						1,597
Realized gains						1,652						—						9,100						10,626
Realized losses						(383)						—						(6,611)						(7,504)
Unrealized gains (losses), net						2,415						1,638						2,626						(2,337)
Expenses and taxes						(347)						(213)						(817)						(880)
Net change in deferred preneed funeral receipts held in trust						(3,827)						(1,911)						(5,782)						(1,502)
						$	—					$	—					$	—					$	—

Purchases and sales of investments in the preneed funeral trusts are as follows (in thousands):

						Three months ended September 30,												Nine months ended September 30,
						2025						2024						2025						2024
Purchases						$	(16,839)					$	—					(53,294)						(10,214)
Sales						18,013						—						60,470						19,726

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): 

			September 30, 2025						December 31, 2024
Cemetery perpetual care trust investments, at market value			$	93,154					$	87,337
Obligations due to (due from) trust			(1,771)						(885)
Care trusts’ corpus, including HFS			$	91,383					$	86,452
Less: Held for sale			—						(2,234)
Care trusts' corpus			$	91,383					$	84,218

The following table reflects the cost and market values associated with the trust investments held in perpetual care trust funds at September 30, 2025 (in thousands):

			Fair Value Hierarchy Level						Cost						Unrealized Gains						Unrealized Losses						Fair Market Value
Cash and money market accounts			1						$	8,123					$	—					$	—					$	8,123
Fixed income securities:
Foreign debt			2						—						—						—						—
Corporate debt			2						94						2						—						96
Preferred stock			2						—						—						—						—
Common stock			1						11,381						1,017						(1,494)						10,904
Limited partnership fund									3,155						—						(143)						3,012
Mutual funds:
Equity			1						4,088						263						(76)						4,275
Fixed income			2						41,518						428						(112)						41,834
Alternative investments									24,581						276						(48)						24,809
Trust securities									$	92,940					$	1,986					$	(1,873)					$	93,053
Accrued investment income									$	101																	$	101
Preneed cemetery trust investments																											$	93,154
Market value as a percentage of cost																											100.1		%

The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands):

Due in one year or less			$	25
Due in one to five years			71
Due in five to ten years			—
Thereafter			—
Total fixed income securities			$	96

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 September 30, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):

September 30, 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

$

—

$

—

$

—

$

—

$

—

$

—

Corporate debt

—

—

—

—

—

—

Preferred stock

—

—

—

—

—

—

Total fixed income securities with an unrealized loss

$

—

$

—

$

—

$

—

$

—

$

—

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 September 30,												Nine months ended September 30,
						2025						2024						2025						2024
Realized gains						$	298					$	—					1,577						1,419
Realized losses						(533)						—						$	(1,962)					$	(1,089)
Unrealized gains (losses), net						325						1,676						112						(2,553)
Net change in care trusts’ corpus						(89)						(1,676)						274						2,223
						$	—					$	—					$	—					$	—

Perpetual care trust investment security transactions recorded in Other revenue are as follows (in thousands):

						Three months ended September 30,												Nine months ended September 30,
						2025						2024						2025						2024
Investment income						$	2,549					$	3,820					$	7,456					$	10,444
Realized losses						87						(1,087)						(1,172)						(2,212)
Total						$	2,636					$	2,733					$	6,284					$	8,232

Purchases and sales of investments in the perpetual care trusts are as follows (in thousands):

						Three months ended September 30,												Nine months ended September 30,
						2025						2024						2025						2024
Purchases						$	(17,798)					$	—					$	(56,694)					$	(9,113)
Sales						18,109						—						$	61,040					$	19,130

X

- Definition

PRENEED TRUST INVESTMENTS

+ References

No definition available.

+ Details

Name:	csv_PreneedTrustInvestmentsAbstract
Namespace Prefix:	csv_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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-types:textBlockItemType
Balance Type:	na
Period Type:	duration