XML 15 R5.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 39,235 $ 23,098
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,077 17,274
Provision for credit losses 2,753 2,303
Stock-based compensation expense 5,857 4,521
Deferred income tax (benefit) expense 3,308 (1,838)
Amortization of intangibles 926 1,012
Amortization of debt issuance costs 384 495
Amortization and accretion of debt 420 402
Net loss on divestitures and impairment charges 788 1,955
Net gain on property damage, net of insurance claims 0 (417)
Net gain on sale of excess real property (1,047) 0
Changes in operating assets and liabilities that provided (used) cash:    
Accounts and preneed receivables (18,405) (20,880)
Inventories, prepaid, and other current assets 203 1,543
Intangible and other non-current assets (2,100) (3,624)
Preneed funeral and cemetery trust investments (16,796) (6,367)
Accounts payable (3,477) 3,189
Accrued and other liabilities (1,493) 5,909
Deferred preneed funeral and cemetery revenue 623 7,546
Deferred preneed funeral and cemetery receipts held in trust 17,312 6,595
Net cash provided by operating activities 46,568 42,716
Cash flows from investing activities:    
Acquisitions of businesses and real property 56,499 0
Proceeds from divestitures and sale of other assets 37,310 12,015
Proceeds from insurance claims 0 403
Capital expenditures (12,715) (11,710)
Net cash (used in) provided by investing activities (31,904) 708
Cash flows from financing activities:    
Borrowings from the credit facility 113,800 32,100
Payments against the credit facility (115,900) (71,200)
Payment of debt issuance costs for the credit facility 0 (782)
Payments on acquisition debt and obligations under finance leases (427) (464)
Proceeds from the exercise of stock options and employee stock purchase plan contributions 1,476 2,181
Taxes paid on restricted stock, performance award vestings, and exercise of stock options (8,276) (424)
Dividends paid on common stock (5,254) (5,098)
Net cash used in financing activities (14,581) (43,687)
Net increase (decrease) in cash and cash equivalents 83 (263)
Cash and cash equivalents at beginning of period 1,165 1,523
Cash and cash equivalents at end of period 1,248 1,260
Supplemental disclosure of cash flow information:    
Cash paid for interest and financing costs 15,840 19,729
Cash paid for taxes $ 10,820 $ 13,434