Segment Information |
The following tables present financial information with respect to the Company’s segments (in thousands). Corporate costs represent those not directly associated with an operating segment, such as corporate overhead, interest expense and income taxes. Corporate assets primarily consist of cash and cash equivalents and restricted cash.
|
|
Three Months Ended March 31, |
|
|
|
2021 |
|
|
2020 |
|
STATEMENT OF OPERATIONS DATA: |
|
|
|
|
|
|
|
|
Cemetery Operations: |
|
|
|
|
|
|
|
|
Revenues |
|
$ |
66,980 |
|
|
$ |
54,797 |
|
Operating costs and expenses |
|
|
(53,745 |
) |
|
|
(47,928 |
) |
Depreciation and amortization |
|
|
(1,576 |
) |
|
|
(1,653 |
) |
Segment operating profit |
|
$ |
11,659 |
|
|
$ |
5,216 |
|
Funeral Home Operations: |
|
|
|
|
|
|
|
|
Revenues |
|
$ |
11,333 |
|
|
$ |
10,305 |
|
Operating costs and expenses |
|
|
(9,341 |
) |
|
|
(8,490 |
) |
Depreciation and amortization |
|
|
(431 |
) |
|
|
(445 |
) |
Segment operating profit |
|
$ |
1,561 |
|
|
$ |
1,370 |
|
Reconciliation of segment operating profit to net loss from continuing operations: |
|
|
|
|
|
|
|
|
Cemetery Operations |
|
$ |
11,659 |
|
|
$ |
5,216 |
|
Funeral Home Operations |
|
|
1,561 |
|
|
|
1,370 |
|
Total segment profit |
|
|
13,220 |
|
|
|
6,586 |
|
Corporate overhead |
|
|
(9,541 |
) |
|
|
(8,501 |
) |
Corporate depreciation and amortization |
|
|
(95 |
) |
|
|
(216 |
) |
Interest expense |
|
|
(10,473 |
) |
|
|
(11,353 |
) |
Income tax benefit (expense) |
|
|
1,676 |
|
|
|
(1,288 |
) |
Net loss from continuing operations |
|
$ |
(5,213 |
) |
|
$ |
(14,772 |
) |
|
|
|
|
|
|
|
|
|
CASH FLOW DATA: |
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|
|
|
|
|
|
|
Capital expenditures: |
|
|
|
|
|
|
|
|
Cemetery Operations |
|
$ |
1,713 |
|
|
$ |
1,188 |
|
Funeral Home Operations |
|
|
61 |
|
|
|
10 |
|
Corporate |
|
|
— |
|
|
|
875 |
|
Total capital expenditures |
|
$ |
1,774 |
|
|
$ |
2,073 |
|
|
|
March 31, 2021 |
|
|
December 31, 2020 |
|
BALANCE SHEET DATA: |
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|
|
|
|
|
|
|
Assets: |
|
|
|
|
|
|
|
|
Cemetery Operations |
|
$ |
1,474,996 |
|
|
$ |
1,445,217 |
|
Funeral Home Operations |
|
|
131,343 |
|
|
|
130,687 |
|
Corporate |
|
|
70,761 |
|
|
|
59,059 |
|
Total assets |
|
$ |
1,677,100 |
|
|
$ |
1,634,963 |
|
Assets held for sale: |
|
|
|
|
|
|
|
|
Cemetery Operations |
|
$ |
24,228 |
|
|
$ |
23,500 |
|
Funeral Home Operations |
|
|
5,030 |
|
|
|
5,075 |
|
Total assets held for sale |
|
$ |
29,258 |
|
|
$ |
28,575 |
|
|