XML 26 R27.htm IDEA: XBRL DOCUMENT v2.3.0.15
Preneed Cemetery Activities Level 3 (Tables)
9 Months Ended
Sep. 30, 2011
Preneed Cemetery 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 September 30, 2011 are shown in the following tables:
 
September 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
$
1,817

 
$
(41
)
 
$
3,042

 
$
(264
)
 
$
4,859

 
$
(305
)
Canadian government
3,307

 
(10
)
 
—

 
—

 
3,307

 
(10
)
Corporate
18,660

 
(1,628
)
 
—

 
—

 
18,660

 
(1,628
)
Residential mortgage-backed
—

 
—

 
15

 
(1
)
 
15

 
(1
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
2,428

 
(462
)
 
—

 
—

 
2,428

 
(462
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
172,584

 
(43,555
)
 
19,470

 
(4,684
)
 
192,054

 
(48,239
)
Canada
5,448

 
(966
)
 
457

 
(561
)
 
5,905

 
(1,527
)
Other international
14,670

 
(2,454
)
 
3,426

 
(1,574
)
 
18,096

 
(4,028
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
83,652

 
(13,461
)
 
58,659

 
(10,571
)
 
142,311

 
(24,032
)
Fixed income
49,081

 
(4,293
)
 
10,872

 
(11,539
)
 
59,953

 
(15,832
)
Private equity
426

 
(275
)
 
12,776

 
(15,983
)
 
13,202

 
(16,258
)
Total temporarily impaired securities
$
352,073

 
$
(67,145
)
 
$
108,717

 
$
(45,177
)
 
$
460,790

 
$
(112,322
)


 
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.

 
September 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
$
564

 
$
(2
)
 
$
—

 
$
—

 
$
564

 
$
(2
)
Canadian government
5,590

 
(18
)
 
—

 
—

 
5,590

 
(18
)
Corporate
2,876

 
(79
)
 
231

 
(13
)
 
3,107

 
(92
)
Residential mortgage-backed
27

 
(1
)
 
110

 
(10
)
 
137

 
(11
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
4,720

 
(1,188
)
 
22

 
(28
)
 
4,742

 
(1,216
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
64,616

 
(11,145
)
 
9,435

 
(5,835
)
 
74,051

 
(16,980
)
Canada
3,300

 
(663
)
 
618

 
(574
)
 
3,918

 
(1,237
)
Other international
10,925

 
(1,852
)
 
347

 
(407
)
 
11,272

 
(2,259
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
11,439

 
(1,573
)
 
2,814

 
(763
)
 
14,253

 
(2,336
)
Fixed income
180,580

 
(11,196
)
 
39,050

 
(5,003
)
 
219,630

 
(16,199
)
Private equity
258

 
(362
)
 
10,315

 
(13,869
)
 
10,573

 
(14,231
)
Other
134

 
(190
)
 
5,390

 
(2,134
)
 
5,524

 
(2,324
)
Total temporarily impaired securities
$
285,029

 
$
(28,269
)
 
$
68,332

 
$
(28,636
)
 
$
353,361

 
$
(56,905
)


 
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
)
Cemetery [Member]
 
Preneed Cemetery 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 cemetery merchandise and service trusts:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2011
 
2010
 
2011
 
2010
 
(In thousands)
Deposits
$
25,946

 
$
30,565

 
$
76,442

 
$
79,984

Withdrawals
25,917

 
26,303

 
84,444

 
79,080

Purchases of available-for-sale securities
88,518

 
77,625

 
411,195

 
542,829

Sales of available-for-sale securities
78,721

 
90,148

 
407,272

 
502,508

Realized gains from sales of available-for-sale securities
10,134

 
6,838

 
51,225

 
31,899

Realized losses from sales of available-for-sale securities
(8,758
)
 
(9,828
)
 
(19,994
)
 
(47,093
)
Long-term receivable and investment components [Table Text Block]
The components of Preneed cemetery receivables, net and trust investments in our unaudited condensed consolidated balance sheet at September 30, 2011 and December 31, 2010 are as follows:
 
September 30, 2011
 
December 31, 2010
 
(In thousands)
Trust investments, at market
$
967,503

 
$
1,062,771

Cash and cash equivalents
127,137

 
122,866

Insurance backed fixed income securities
12

 
9,158

Trust investments
1,094,652

 
1,194,795

Receivables from customers
498,445

 
452,296

Unearned finance charges
(35,525
)
 
(39,205
)
 
1,557,572

 
1,607,886

Allowance for cancellation
(43,849
)
 
(43,993
)
Preneed cemetery receivables and trust investments
$
1,513,723

 
$
1,563,893

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
September 30, 2011
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
U.S. Treasury
$
51,242

 
$
5,524

 
$
(305
)
 
$
56,461

Canadian government
17,067

 
492

 
(10
)
 
17,549

Corporate
41,828

 
1,441

 
(1,628
)
 
41,641

Residential mortgage-backed
168

 
5

 
(1
)
 
172

Equity securities:
 
 
 
 
 
 
 
Preferred stock
3,729

 
24

 
(462
)
 
3,291

Common stock:
 
 
 
 
 
 
 
United States
389,521

 
47,683

 
(48,239
)
 
388,965

Canada
17,177

 
2,857

 
(1,527
)
 
18,507

Other international
28,103

 
744

 
(4,028
)
 
24,819

Mutual funds:
 
 
 
 
 
 
 
Equity
181,246

 
1,883

 
(24,032
)
 
159,097

Fixed income
246,647

 
12,081

 
(15,832
)
 
242,896

Private equity
29,892

 
44

 
(16,258
)
 
13,678

Other
335

 
92

 
—

 
427

Trust investments
$
1,006,955

 
$
72,870

 
$
(112,322
)
 
$
967,503


 
December 31, 2010
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
U.S. Treasury
$
50,884

 
$
2,493

 
$
(307
)
 
$
53,070

Canadian government
15,669

 
362

 
(4
)
 
16,027

Corporate
39,265

 
3,387

 
(402
)
 
42,250

Residential mortgage-backed
863

 
31

 
(1
)
 
893

Asset-backed
6,336

 
261

 
(5
)
 
6,592

Equity securities:
 
 
 
 
 
 
 
Preferred stock
4,577

 
453

 
(124
)
 
4,906

Common stock:
 
 
 
 
 
 
 
United States
386,537

 
82,385

 
(10,821
)
 
458,101

Canada
17,279

 
3,869

 
(850
)
 
20,298

Other international
31,466

 
2,485

 
(3,645
)
 
30,306

Mutual funds:
 
 
 
 
 
 
 
Equity
202,328

 
15,173

 
(18,569
)
 
198,932

Fixed income
226,567

 
8,537

 
(9,959
)
 
225,145

Private equity
19,596

 
13

 
(13,890
)
 
5,719

Other
874

 
43

 
(385
)
 
532

Trust investments
$
1,002,241

 
$
119,492

 
$
(58,962
)
 
$
1,062,771

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The inputs into the fair value of our market-based cemetery 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 September 30, 2011
$
834,284

 
$
119,114

 
$
14,105

 
$
967,503

Trust investments at December 31, 2010
$
932,782

 
$
123,738

 
$
6,251

 
$
1,062,771

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The change in our market-based cemetery merchandise and service trust investments with significant unobservable inputs (Level 3) is as follows (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2011
 
2010
 
2011
 
2010
Fair market value, beginning balance
$
14,674

 
$
4,930

 
$
6,251

 
$
4,341

Net unrealized losses included in Accumulated other comprehensive income(1)
(8,530
)
 
(81
)
 
(1,545
)
 
(446
)
Net realized losses included in Other income, net(2)
(8
)
 
(18
)
 
(73
)
 
(41
)
Sales
—

 
(25
)
 
—

 
(48
)
Contributions
7,910

 
263

 
9,762

 
1,601

Distributions and other
59

 
(92
)
 
(290
)
 
(430
)
Fair market value, ending balance
$
14,105

 
$
4,977

 
$
14,105

 
$
4,977

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, excluding mutual funds, at September 30, 2011 are estimated as follows:
 
Fair Market Value
 
(In thousands)
Due in one year or less
$
9,761

Due in one to five years
43,714

Due in five to ten years
31,960

Thereafter
30,388

 
$
115,823