XML 84 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6
Preneed Cemetery Activities Level 3 (Tables)
 3 Months Ended
Mar. 31, 2013
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 values and the duration of unrealized losses as of March 31, 2013 are shown in the following tables:
 
March 31, 2013
 
In Loss Position
Less Than 12 Months
 
In Loss Position
Greater Than 12 Months
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
18,714

 
$
(500
)
 
$
19,448

 
$
(845
)
 
$
38,162

 
$
(1,345
)
Canadian government
5,501

 
(96
)
 
987

 
(20
)
 
6,488

 
(116
)
Corporate
9,400

 
(428
)
 
3,323

 
(272
)
 
12,723

 
(700
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
2,250

 
(87
)
 
163

 
(50
)
 
2,413

 
(137
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
44,001

 
(4,114
)
 
7,199

 
(1,398
)
 
51,200

 
(5,512
)
Canada
2,792

 
(545
)
 
1,005

 
(461
)
 
3,797

 
(1,006
)
Other international
6,637

 
(339
)
 
988

 
(194
)
 
7,625

 
(533
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
6,029

 
(79
)
 
40,107

 
(6,780
)
 
46,136

 
(6,859
)
Fixed income
60,403

 
(1,783
)
 
50,259

 
(18,247
)
 
110,662

 
(20,030
)
Private equity
—

 
—

 
7,564

 
(5,352
)
 
7,564

 
(5,352
)
Total temporarily impaired securities
$
155,727

 
$
(7,971
)
 
$
131,043

 
$
(33,619
)
 
$
286,770

 
$
(41,590
)


 
December 31, 2012
 
In Loss Position
Less Than 12 Months
 
In Loss Position
Greater Than 12 Months
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
28,626

 
$
(841
)
 
$
—

 
$
—

 
$
28,626

 
$
(841
)
Canadian government
5,319

 
(83
)
 
—

 
—

 
5,319

 
(83
)
Corporate
14,060

 
(571
)
 
2,137

 
(204
)
 
16,197

 
(775
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,497

 
(143
)
 
126

 
(53
)
 
1,623

 
(196
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
82,989

 
(5,624
)
 
11,131

 
(2,092
)
 
94,120

 
(7,716
)
Canada
3,114

 
(461
)
 
1,115

 
(385
)
 
4,229

 
(846
)
Other international
9,056

 
(655
)
 
741

 
(202
)
 
9,797

 
(857
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
28,132

 
(1,427
)
 
43,172

 
(8,494
)
 
71,304

 
(9,921
)
Fixed income
54,533

 
(2,205
)
 
29,104

 
(17,145
)
 
83,637

 
(19,350
)
Private equity
46

 
(17
)
 
17,136

 
(15,158
)
 
17,182

 
(15,175
)
Other
8

 
—

 
378

 
(1
)
 
386

 
(1
)
Total temporarily impaired securities
$
227,380

 
$
(12,027
)
 
$
105,040

 
$
(43,734
)
 
$
332,420

 
$
(55,761
)
Our cemetery perpetual care trust investment unrealized losses, their associated fair values and the duration of unrealized losses, are shown in the following tables.
 
March 31, 2013
 
In Loss Position
Less Than 12 Months
 
In Loss Position
Greater Than 12 Months
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
414

 
$
(1
)
 
$
—

 
$
—

 
$
414

 
$
(1
)
Canadian government
9,077

 
(151
)
 
1,986

 
(47
)
 
11,063

 
(198
)
Corporate
5,335

 
(56
)
 
1,858

 
(22
)
 
7,193

 
(78
)
Residential mortgage-backed
244

 
(3
)
 
—

 
—

 
244

 
(3
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,429

 
(244
)
 
2,502

 
(789
)
 
3,931

 
(1,033
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
14,161

 
(1,004
)
 
4,238

 
(543
)
 
18,399

 
(1,547
)
Canada
1,415

 
(304
)
 
1,010

 
(453
)
 
2,425

 
(757
)
Other international
5,150

 
(344
)
 
570

 
(113
)
 
5,720

 
(457
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
47

 
(1
)
 
269

 
(69
)
 
316

 
(70
)
Fixed income
17,645

 
(93
)
 
30,701

 
(214
)
 
48,346

 
(307
)
Private equity
—

 
—

 
15,969

 
(8,690
)
 
15,969

 
(8,690
)
Total temporarily impaired securities
$
54,917

 
$
(2,201
)
 
$
59,103

 
$
(10,940
)
 
$
114,020

 
$
(13,141
)

 
December 31, 2012
 
In Loss Position
Less Than 12 Months
 
In Loss Position
Greater Than 12 Months
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
373

 
$
(1
)
 
$
—

 
$
—

 
$
373

 
$
(1
)
Canadian government
9,145

 
(140
)
 
—

 
—

 
9,145

 
(140
)
Corporate
5,439

 
(33
)
 
1,886

 
(18
)
 
7,325

 
(51
)
Residential mortgage-backed
183

 
(2
)
 
—

 
—

 
183

 
(2
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
3,115

 
(639
)
 
973

 
(299
)
 
4,088

 
(938
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
38,323

 
(2,403
)
 
7,495

 
(986
)
 
45,818

 
(3,389
)
Canada
1,246

 
(281
)
 
1,055

 
(450
)
 
2,301

 
(731
)
Other international
4,712

 
(389
)
 
696

 
(58
)
 
5,408

 
(447
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
2,654

 
(127
)
 
404

 
(84
)
 
3,058

 
(211
)
Fixed income
10,552

 
(37
)
 
31,837

 
(404
)
 
42,389

 
(441
)
Private equity
—

 
—

 
10,752

 
(13,943
)
 
10,752

 
(13,943
)
Other
—

 
—

 
6,308

 
(3,104
)
 
6,308

 
(3,104
)
Total temporarily impaired securities
$
75,742

 
$
(4,052
)
 
$
61,406

 
$
(19,346
)
 
$
137,148

 
$
(23,398
)
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
 
March 31,
 
2013
 
2012
 
(In thousands)
Deposits
$
25,268

 
$
25,195

Withdrawals
29,881

 
24,733

Purchases of available-for-sale securities
105,722

 
270,083

Sales of available-for-sale securities
125,743

 
255,417

Realized gains from sales of available-for-sale securities
16,576

 
39,272

Realized losses from sales of available-for-sale securities
(2,170
)
 
(13,770
)
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 March 31, 2013 and December 31, 2012 are as follows:
 
March 31, 2013
 
December 31, 2012
 
(In thousands)
Trust investments, at fair value
$
1,258,886

 
$
1,204,084

Cash and cash equivalents
94,565

 
86,923

Insurance-backed fixed income securities
12

 
9

Trust investments
1,353,463

 
1,291,016

Receivables from customers
623,371

 
614,599

Unearned finance charges
(28,876
)
 
(29,471
)
 
1,947,958

 
1,876,144

Allowance for cancellation
(50,644
)
 
(49,309
)
Preneed cemetery receivables, net and trust investments
$
1,897,314

 
$
1,826,835
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
March 31, 2013
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
101,171

 
$
5,384

 
$
(1,345
)
 
$
105,210

Canadian government
2
 
17,150

 
361

 
(116
)
 
17,395

Corporate
2
 
42,021

 
3,343

 
(700
)
 
44,664

Residential mortgage-backed
2
 
143

 
3

 
—

 
146

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
8,182

 
702

 
(137
)
 
8,747

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
359,882

 
96,774

 
(5,512
)
 
451,144

Canada
1
 
15,156

 
3,692

 
(1,006
)
 
17,842

Other international
1
 
33,912

 
5,384

 
(533
)
 
38,763

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
277,324

 
31,539

 
(6,859
)
 
302,004

Fixed income
1
 
255,802

 
10,207

 
(20,030
)
 
245,979

Private equity
3
 
28,863

 
2,446

 
(5,352
)
 
25,957

Other
3
 
870

 
165

 
—

 
1,035

Trust investments
 
 
$
1,140,476

 
$
160,000

 
$
(41,590
)
 
$
1,258,886


 
December 31, 2012
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
99,630

 
$
7,925

 
$
(841
)
 
$
106,714

Canadian government
2
 
17,562

 
402

 
(83
)
 
17,881

Corporate
2
 
43,515

 
2,456

 
(775
)
 
45,196

Residential mortgage-backed
2
 
150

 
4

 
—

 
154

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
5,840

 
334

 
(196
)
 
5,978

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
363,190

 
71,613

 
(7,716
)
 
427,087

Canada
1
 
16,026

 
2,862

 
(846
)
 
18,042

Other international
1
 
29,889

 
3,687

 
(857
)
 
32,719

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
279,265

 
19,520

 
(9,921
)
 
288,864

Fixed income
1
 
251,687

 
10,975

 
(19,350
)
 
243,312

Private equity
3
 
32,785

 
77

 
(15,175
)
 
17,687

Other
3
 
407

 
44

 
(1
)
 
450

Trust investments
 
 
$
1,139,946

 
$
119,899

 
$
(55,761
)
 
$
1,204,084
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
 
March 31, 2013
 
March 31, 2012
 
Private Equity
 
Other
 
Private Equity
 
Other
Fair value, beginning balance
$
17,687

 
$
450

 
$
15,219

 
$
436

Net unrealized gains (losses) included in Accumulated other comprehensive income(1)
11,400

 
587

 
(1,353
)
 
8

Net realized losses included in Other (expense) income, net(2)
(7
)
 
(2
)
 
(11
)
 
(1
)
Contributions
662

 
—

 
1,356

 
—

Distributions and other
(3,785
)
 
—

 
(276
)
 
—

Fair value, ending balance
$
25,957

 
$
1,035

 
$
14,935

 
$
443
Investments Classified by Contractual Maturity Date [Table Text Block]
Maturity dates of our fixed income securities range from 2013 to 2042. Maturities of fixed income securities, excluding mutual funds, at March 31, 2013 are estimated as follows:
 
Fair Value
 
(In thousands)
Due in one year or less
$
19,832

Due in one to five years
56,472

Due in five to ten years
42,361

Thereafter
48,750

 
$
167,415