Receivables |
RECEIVABLES Accounts Receivable Accounts receivable is comprised of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2021 | | Funeral | | Cemetery | | Corporate | | Total | Trade and financed receivables | $ | 11,099 | | | $ | 13,289 | | | $ | — | | | $ | 24,388 | | Other receivables | 461 | | | 2,162 | | | 260 | | | 2,883 | | Allowance for credit losses | (290) | | | (768) | | | — | | | (1,058) | | Accounts receivable, net | $ | 11,270 | | | $ | 14,683 | | | $ | 260 | | | $ | 26,213 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2020 | | Funeral | | Cemetery | | Corporate | | Total | Trade and financed receivables | $ | 11,448 | | | $ | 12,230 | | | $ | — | | | $ | 23,678 | | Other receivables | 367 | | | 2,144 | | | 201 | | | 2,712 | | Allowance for credit losses | (327) | | | (960) | | | — | | | (1,287) | | Accounts receivable, net | $ | 11,488 | | | $ | 13,414 | | | $ | 201 | | | $ | 25,103 | |
Other receivables include supplier rebates, commissions due from third party insurance companies and perpetual care income receivables. We do not provide an allowance for credit losses for these receivables as we have historically not had any collectability issues nor do we expect any in the foreseeable future. The following table summarizes the activity in our allowance for credit losses by portfolio segment (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | January 1, 2021 | | Provision for Credit Losses | | | | Write Offs | | Recoveries | | September 30, 2021 | Trade and financed receivables: | | | | | | | | | | | | Funeral | $ | (327) | | | $ | (637) | | | | | $ | 1,691 | | | $ | (1,017) | | | $ | (290) | | Cemetery | (960) | | | (292) | | | | | 484 | | | — | | | (768) | | Total allowance for credit losses on Trade and financed receivables | $ | (1,287) | | | $ | (929) | | | | | $ | 2,175 | | | $ | (1,017) | | | $ | (1,058) | |
Preneed Cemetery Receivables Our preneed cemetery receivables are comprised of the following (in thousands): | | | | | | | | | | | | | December 31, 2020 | | September 30, 2021 | Cemetery interment rights | $ | 36,696 | | | $ | 41,179 | | Cemetery merchandise and services | 10,526 | | | 11,661 | | Cemetery financed receivables | $ | 47,222 | | | $ | 52,840 | |
The components of our preneed cemetery receivables are as follows (in thousands): | | | | | | | | | | | | | December 31, 2020 | | September 30, 2021 | Preneed cemetery receivables | $ | 47,222 | | | $ | 52,840 | | Less: unearned finance charges | (4,348) | | | (4,745) | | Preneed cemetery receivables, at amortized cost | $ | 42,874 | | | $ | 48,095 | | Less: allowance for credit losses | (2,604) | | | (2,083) | | Less: balances due on undelivered cemetery preneed contracts | (7,919) | | | (10,559) | | Less: amounts in accounts receivable | (11,270) | | | (12,521) | | Preneed cemetery receivables, net | $ | 21,081 | | | $ | 22,932 | |
The following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | January 1, 2021 | | Provision for Credit Losses | | Write Offs | | September 30, 2021 | Total allowance for credit losses on Preneed cemetery receivables, net | $ | (1,644) | | | $ | (497) | | | $ | 826 | | | $ | (1,315) | |
The amortized cost basis of our preneed cemetery receivables by year of origination at September 30, 2021 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2021 | | 2020 | | 2019 | | 2018 | | 2017 | | Prior | | Total | Total preneed cemetery receivables, at amortized cost | $ | 21,057 | | | $ | 12,168 | | | $ | 7,646 | | | $ | 3,776 | | | $ | 1,699 | | | $ | 1,749 | | | $ | 48,095 | |
The aging of past due preneed cemetery receivables at September 30, 2021 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 31-60 Past Due | | 61-90 Past Due | | 91-120 Past Due | | >120 Past Due | | Total Past Due | | Current | | Total | Recognized revenue | $ | 849 | | | $ | 644 | | | $ | 246 | | | $ | 1,955 | | | $ | 3,694 | | | $ | 34,256 | | | $ | 37,950 | | Deferred revenue | 1,436 | | | 209 | | | 75 | | | 511 | | | 2,231 | | | 12,659 | | | 14,890 | | Total contracts | $ | 2,285 | | | $ | 853 | | | $ | 321 | | | $ | 2,466 | | | $ | 5,925 | | | $ | 46,915 | | | $ | 52,840 | |
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