XML 33 R26.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Preneed Funeral Activities Level 3 (Tables)
 6 Months Ended
Jun. 30, 2011
Preneed funeral receivables net and trust investments [Line Items]  
Schedule of Unrealized Loss on Investments [Table Text Block]
Our cemetery merchandise and service trust investment unrealized losses, their associated fair market values and the duration of unrealized losses as of June 30, 2011 are shown in the following tables:
 
June 30, 2011
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
2,395


 
$
(31
)
 
$
3,061


 
$
(220
)
 
$
5,456


 
$
(251
)
Canadian government
4,172


 
(3
)
 
—


 
—


 
4,172


 
(3
)
Corporate
12,047


 
(523
)
 
587


 
(80
)
 
12,634


 
(603
)
Residential mortgage-backed
—


 
—


 
15


 
(1
)
 
15


 
(1
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,443


 
(69
)
 
—


 
—


 
1,443


 
(69
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
90,705


 
(10,301
)
 
21,976


 
(2,487
)
 
112,681


 
(12,788
)
Canada
3,005


 
(376
)
 
526


 
(461
)
 
3,531


 
(837
)
Other international
5,753


 
(284
)
 
4,128


 
(927
)
 
9,881


 
(1,211
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
28,900


 
(861
)
 
76,063


 
(16,091
)
 
104,963


 
(16,952
)
Fixed income
33,971


 
(1,304
)
 
12,349


 
(9,558
)
 
46,320


 
(10,862
)
Private equity
535


 
(267
)
 
13,432


 
(15,398
)
 
13,967


 
(15,665
)
Total temporarily impaired securities
$
182,926


 
$
(14,019
)
 
$
132,137


 
$
(45,223
)
 
$
315,063


 
$
(59,242
)




 
December 31, 2010
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
6,057


 
$
(295
)
 
$
315


 
$
(12
)
 
$
6,372


 
$
(307
)
Canadian government
2,908


 
(4
)
 
—


 
—


 
2,908


 
(4
)
Corporate
8,577


 
(402
)
 
—


 
—


 
8,577


 
(402
)
Residential mortgage-backed
—


 
—


 
20


 
(1
)
 
20


 
(1
)
Asset-backed
766


 
(4
)
 
56


 
(1
)
 
822


 
(5
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,749


 
(124
)
 
—


 
—


 
1,749


 
(124
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
63,027


 
(4,450
)
 
31,108


 
(6,371
)
 
94,135


 
(10,821
)
Canada
3,131


 
(181
)
 
1,475


 
(669
)
 
4,606


 
(850
)
Other international
8,542


 
(1,403
)
 
5,259


 
(2,242
)
 
13,801


 
(3,645
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
5,107


 
(112
)
 
92,630


 
(18,457
)
 
97,737


 
(18,569
)
Fixed income
25,887


 
(354
)
 
14,600


 
(9,605
)
 
40,487


 
(9,959
)
Private equity
—


 
—


 
5,557


 
(13,890
)
 
5,557


 
(13,890
)
Other
7


 
(1
)
 
303


 
(384
)
 
310


 
(385
)
Total temporarily impaired securities
$
125,758


 
$
(7,330
)
 
$
151,323


 
$
(51,632
)
 
$
277,081


 
$
(58,962
)
Our cemetery perpetual care trust investment unrealized losses, their associated fair market values and the duration of unrealized losses, are shown in the following tables.


 
June 30, 2011
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
687


 
$
(2
)
 
$
—


 
$
—


 
$
687


 
$
(2
)
Canadian government
6,938


 
(5
)
 
—


 
—


 
6,938


 
(5
)
Corporate
2,498


 
(32
)
 
254


 
(10
)
 
2,752


 
(42
)
Residential mortgage-backed
28


 
(1
)
 
114


 
(8
)
 
142


 
(9
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
2,618


 
(214
)
 
34


 
(16
)
 
2,652


 
(230
)
Common stock:
 
 
 
 
 
 
 
 
—


 
 
United States
26,854


 
(1,402
)
 
12,344


 
(4,595
)
 
39,198


 
(5,997
)
Canada
1,384


 
(134
)
 
982


 
(544
)
 
2,366


 
(678
)
Other international
7,596


 
(690
)
 
1,388


 
(677
)
 
8,984


 
(1,367
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
7,913


 
(162
)
 
3,244


 
(287
)
 
11,157


 
(449
)
Fixed income
106,301


 
(1,225
)
 
50,963


 
(1,818
)
 
157,264


 
(3,043
)
Private equity
301


 
(389
)
 
12,067


 
(14,921
)
 
12,368


 
(15,310
)
Other
126


 
(165
)
 
5,101


 
(1,148
)
 
5,227


 
(1,313
)
Total temporarily impaired securities
$
163,244


 
$
(4,421
)
 
$
86,491


 
$
(24,024
)
 
$
249,735


 
$
(28,445
)




 
December 31, 2010
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
1,669


 
$
(31
)
 
$
—


 
$
—


 
$
1,669


 
$
(31
)
Canadian government
4,966


 
(7
)
 
—


 
—


 
4,966


 
(7
)
Corporate
9,181


 
(221
)
 
675


 
(28
)
 
9,856


 
(249
)
Residential mortgage-backed
137


 
(2
)
 
92


 
(4
)
 
229


 
(6
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,561


 
(90
)
 
29


 
(22
)
 
1,590


 
(112
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
15,419


 
(1,464
)
 
16,419


 
(5,176
)
 
31,838


 
(6,640
)
Canada
1,545


 
(82
)
 
1,454


 
(676
)
 
2,999


 
(758
)
Other international
3,175


 
(242
)
 
2,383


 
(1,603
)
 
5,558


 
(1,845
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
866


 
(10
)
 
29,974


 
(7,229
)
 
30,840


 
(7,239
)
Fixed income
18,166


 
(134
)
 
53,553


 
(2,200
)
 
71,719


 
(2,334
)
Private equity
1


 
(1
)
 
10,060


 
(13,343
)
 
10,061


 
(13,344
)
Other
1


 
(2
)
 
5,568


 
(2,655
)
 
5,569


 
(2,657
)
Total temporarily impaired securities
$
56,687


 
$
(2,286
)
 
$
120,207


 
$
(32,936
)
 
$
176,894


 
$
(35,222
)
Funeral [Member]
  
Preneed funeral receivables net and trust investments [Line Items]  
Investment related activities [Table Text Block]
The table below sets forth certain investment-related activities associated with our preneed funeral merchandise and service trusts:
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2011
 
2010
 
2011
 
2010
 
(In thousands)
Deposits
$
18,913


 
$
21,350


 
$
36,229


 
$
42,523


Withdrawals
29,187


 
27,728


 
52,945


 
59,738


Purchases of available-for-sale securities
163,234


 
162,203


 
246,991


 
313,303


Sales of available-for-sale securities
224,805


 
136,713


 
334,512


 
314,499


Realized gains from sales of available-for-sale securities
25,388


 
9,005


 
38,265


 
20,498


Realized losses from sales of available-for-sale securities
(7,595
)
 
(15,212
)
 
(11,629
)
 
(33,657
)
Long-term receivable and investment components [Table Text Block]
The components of Preneed funeral receivables, net and trust investments in our unaudited condensed consolidated balance sheet at June 30, 2011 and December 31, 2010 are as follows:
 
June 30, 2011
 
December 31, 2010
 
(In thousands)
Trust investments, at market
$
950,042


 
$
875,043


Cash and cash equivalents
124,115


 
121,212


Insurance-backed fixed income securities
269,621


 
220,287


Trust investments
1,343,778


 
1,216,542


Receivables from customers
256,710


 
247,434


Unearned finance charge
(5,240
)
 
(5,620
)
 
1,595,248


 
1,458,356


Allowance for cancellation
(35,139
)
 
(33,799
)
Preneed funeral receivables and trust investments
$
1,560,109


 
$
1,424,557
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
June 30, 2011
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
U.S. Treasury
$
77,820


 
$
2,752


 
$
(356
)
 
$
80,216


Canadian government
120,419


 
253


 
(9
)
 
120,663


Corporate
44,858


 
2,346


 
(530
)
 
46,674


Residential mortgage-backed
3,439


 
82


 
(25
)
 
3,496


Asset-backed
126


 
6


 
—


 
132


Equity securities:
 
 
 
 
 
 
 
Preferred stock
2,093


 
178


 
(56
)
 
2,215


Common stock:
 
 
 
 
 
 
 
United States
267,423


 
55,561


 
(11,373
)
 
311,611


Canada
21,528


 
4,457


 
(637
)
 
25,348


Other international
17,039


 
1,500


 
(1,164
)
 
17,375


Mutual funds:
 
 
 
 
 
 
 
Equity
138,898


 
6,605


 
(16,271
)
 
129,232


Fixed income
185,728


 
5,006


 
(6,685
)
 
184,049


Private equity
36,743


 
1,408


 
(18,126
)
 
20,025


Other
8,152


 
854


 
—


 
9,006


Trust investments
$
924,266


 
$
81,008


 
$
(55,232
)
 
$
950,042




 
December 31, 2010
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
U.S. Treasury
$
71,948


 
$
2,061


 
$
(334
)
 
$
73,675


Canadian government
121,137


 
1,004


 
(20
)
 
122,121


Corporate
33,627


 
2,751


 
(285
)
 
36,093


Residential mortgage-backed
5,310


 
135


 
(22
)
 
5,423


Asset-backed
2,984


 
97


 
(2
)
 
3,079


Equity securities:
 
 
 
 
 
 
 
Preferred stock
2,835


 
296


 
(78
)
 
3,053


Common stock:
 
 
 
 
 
 
 
United States
268,650


 
63,301


 
(8,391
)
 
323,560


Canada
22,452


 
4,542


 
(798
)
 
26,196


Other international
21,611


 
2,240


 
(2,330
)
 
21,521


Mutual funds:
 
 
 
 
 
 
 
Equity
116,260


 
6,123


 
(18,289
)
 
104,094


Fixed income
134,181


 
6,316


 
(5,628
)
 
134,869


Private equity
27,864


 
1,395


 
(16,890
)
 
12,369


Other
8,833


 
615


 
(458
)
 
8,990


Trust investments
$
837,692


 
$
90,876


 
$
(53,525
)
 
$
875,043
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The inputs into the fair value of our market-based funeral merchandise and service trust investments are categorized as follows:
 
Quoted Market
Prices in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
Fair Market
Value
 
 
 
(In thousands)
 
 
Trust investments at June 30, 2011
$
667,615


 
$
253,396


 
$
29,031


 
$
950,042


Trust investments at December 31, 2010
$
610,240


 
$
243,444


 
$
21,359


 
$
875,043
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The change in our market-based funeral merchandise and service trust investments with significant unobservable inputs (Level 3) is as follows (in thousands):
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2011
 
2010
 
2011
 
2010
Fair market value, beginning balance
$
25,370


 
$
12,117


 
$
21,359


 
$
12,052


Net unrealized gains (losses) included in Accumulated other comprehensive income(1)
2,894


 
(724
)
 
6,756


 
(1,070
)
Net realized losses included in Other income, net(2)
(52
)
 
(11
)
 
(59
)
 
(23
)
Purchases
—


 
7,605


 
—


 
7,605


Sales
—


 
—


 
(186
)
 
—


Contributions
1,296


 
994


 
1,782


 
1,436


Distributions and other
(477
)
 
(274
)
 
(621
)
 
(293
)
Fair market value, ending balance
$
29,031


 
$
19,707


 
$
29,031


 
$
19,707
Investments Classified by Contractual Maturity Date [Table Text Block]
Maturity dates of our fixed income securities range from 2011 to 2041. Maturities of fixed income securities at June 30, 2011 are estimated as follows:
 
Fair Market Value
 
(In thousands)
Due in one year or less
$
135,992


Due in one to five years
59,381


Due in five to ten years
35,374


Thereafter
20,434


 
$
251,181
Schedule of Unrealized Loss on Investments [Table Text Block]
. Our funeral merchandise and service trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of June 30, 2011 and December 31, 2010, respectively, are shown in the following tables:
 
June 30, 2011
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
9,558


 
$
(79
)
 
$
8,958


 
$
(277
)
 
$
18,516


 
$
(356
)
Canadian government
5,973


 
(7
)
 
113


 
(2
)
 
6,086


 
(9
)
Corporate
9,391


 
(374
)
 
1,190


 
(156
)
 
10,581


 
(530
)
Residential mortgage-backed
130


 
(4
)
 
290


 
(21
)
 
420


 
(25
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
855


 
(56
)
 
—


 
—


 
855


 
(56
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
71,668


 
(8,477
)
 
21,237


 
(2,896
)
 
92,905


 
(11,373
)
Canada
1,864


 
(339
)
 
975


 
(298
)
 
2,839


 
(637
)
Other international
4,066


 
(315
)
 
3,339


 
(849
)
 
7,405


 
(1,164
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
27,627


 
(631
)
 
57,458


 
(15,640
)
 
85,085


 
(16,271
)
Fixed income
66,063


 
(864
)
 
13,357


 
(5,821
)
 
79,420


 
(6,685
)
Private equity
1,496


 
(1,452
)
 
13,043


 
(16,674
)
 
14,539


 
(18,126
)
Total temporarily impaired securities
$
198,691


 
$
(12,598
)
 
$
119,960


 
$
(42,634
)
 
$
318,651


 
$
(55,232
)


 
December 31, 2010
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
10,433


 
$
(316
)
 
$
393


 
$
(18
)
 
$
10,826


 
$
(334
)
Canadian government
1,632


 
(2
)
 
668


 
(18
)
 
2,300


 
(20
)
Corporate
5,619


 
(285
)
 
—


 
—


 
5,619


 
(285
)
Residential mortgage-backed
836


 
(9
)
 
263


 
(13
)
 
1,099


 
(22
)
Asset-backed
225


 
(1
)
 
53


 
(1
)
 
278


 
(2
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,045


 
(78
)
 
—


 
—


 
1,045


 
(78
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
41,491


 
(3,019
)
 
24,919


 
(5,372
)
 
66,410


 
(8,391
)
Canada
4,493


 
(324
)
 
1,361


 
(474
)
 
5,854


 
(798
)
Other international
5,251


 
(862
)
 
3,446


 
(1,468
)
 
8,697


 
(2,330
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
3,778


 
(110
)
 
61,844


 
(18,179
)
 
65,622


 
(18,289
)
Fixed income
9,630


 
(156
)
 
8,818


 
(5,472
)
 
18,448


 
(5,628
)
Private equity
214


 
(71
)
 
6,715


 
(16,819
)
 
6,929


 
(16,890
)
Other
8


 
(2
)
 
309


 
(456
)
 
317


 
(458
)
Total temporarily impaired securities
$
84,655


 
$
(5,235
)
 
$
108,789


 
$
(48,290
)
 
$
193,444


 
$
(53,525
)