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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 779 $ 952
Accounts receivable, net of allowance for bad debts of $835 in 2017 and $814 in 2018 17,817 19,655
Inventories 6,566 6,519
Prepaid expenses 1,966 2,028
Other current assets 572 986
Total current assets 27,700 30,140
Preneed cemetery trust investments 70,296 73,853
Preneed funeral trust investments 91,782 90,682
Preneed receivables, net of allowance for bad debts of $2,278 in 2017 and $2,289 in 2018 20,982 31,644
Receivables from preneed trusts 15,802 15,287
Property, plant and equipment, net of accumulated depreciation of $115,776 in 2017 and $118,864 in 2018 245,622 247,294
Cemetery property, net of accumulated amortization of $37,543 in 2017 and $38,451 in 2018 75,935 76,331
Goodwill 287,956 287,956
Intangible and other non-current assets 20,830 18,117
Cemetery perpetual care trust investments 48,285 50,229
Total assets 905,190 921,533
Current liabilities:    
Current portion of long-term debt and capital lease obligations 17,320 17,251
Accounts payable 7,273 6,547
Other liabilities 3,789 1,361
Accrued liabilities 12,397 17,559
Total current liabilities 40,779 42,718
Long-term debt, net of current portion 116,886 121,034
Revolving credit facility 83,389 91,120
Convertible subordinated notes due 2021 125,733 124,441
Obligations under capital leases, net of current portion 6,371 6,361
Deferred preneed cemetery revenue 50,797 54,690
Deferred preneed funeral revenue 27,251 34,585
Deferred tax liability 31,366 31,159
Other long-term liabilities 2,819 3,378
Deferred preneed cemetery receipts held in trust 70,296 73,853
Deferred preneed funeral receipts held in trust 91,782 90,682
Care trusts’ corpus 47,561 49,856
Total liabilities 695,030 723,877
Commitments and contingencies
Stockholders’ equity:    
Common stock, $.01 par value; 80,000,000 shares authorized and 22,622,242 and 22,815,774 shares issued at December 31, 2017 and March 31, 2018, respectively 228 226
Additional paid-in capital 216,526 216,158
Retained earnings 70,038 57,904
Treasury stock, at cost; 6,523,370 shares at December 31, 2017 and March 31, 2018 (76,632) (76,632)
Total stockholders’ equity 210,160 197,656
Total liabilities and stockholders’ equity $ 905,190 $ 921,533