XML 50 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
Preneed Cemetery Activities (Tables)
3 Months Ended
Mar. 31, 2014
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, 2014 are shown in the following tables:
 
March 31, 2014
 
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
$
38,848

 
$
(4,286
)
 
$
19,559

 
$
(2,269
)
 
58,407

 
(6,555
)
Canadian government
11,259

 
(82
)
 
1,113

 
(33
)
 
12,372

 
(115
)
Corporate
10,154

 
(271
)
 
2,718

 
(130
)
 
12,872

 
(401
)
Residential mortgage-backed
169

 
(3
)
 
4

 

 
173

 
(3
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
2,260

 
(45
)
 

 

 
2,260

 
(45
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
82,419

 
(5,575
)
 
2,909

 
(195
)
 
85,328

 
(5,770
)
Canada
1,843

 
(123
)
 
2,395

 
(768
)
 
4,238

 
(891
)
Other international
8,190

 
(699
)
 
625

 
(80
)
 
8,815

 
(779
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
2,199

 
(27
)
 
14,643

 
(1,458
)
 
16,842

 
(1,485
)
Fixed income
84,375

 
(2,637
)
 
69,182

 
(24,706
)
 
153,557

 
(27,343
)
Private equity

 

 
6,707

 
(4,686
)
 
6,707

 
(4,686
)
Other

 

 
279

 
(6
)
 
279

 
(6
)
Total temporarily impaired securities
$
241,716

 
$
(13,748
)
 
$
120,134

 
$
(34,331
)
 
$
361,850

 
$
(48,079
)


 
December 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
$
45,120

 
$
(6,040
)
 
$
25,043

 
$
(2,836
)
 
$
70,163

 
$
(8,876
)
Canadian government
9,424

 
(120
)
 
3,066

 
(141
)
 
12,490

 
(261
)
Corporate
15,050

 
(424
)
 
3,073

 
(222
)
 
18,123

 
(646
)
Residential mortgage-backed
145

 
(2
)
 
2

 

 
147

 
(2
)
Asset-backed
3,257

 
(13
)
 

 

 
3,257

 
(13
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
5,604

 
(123
)
 

 

 
5,604

 
(123
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
46,317

 
(2,648
)
 
3,489

 
(583
)
 
49,806

 
(3,231
)
Canada
1,569

 
(502
)
 
1,935

 
(433
)
 
3,504

 
(935
)
Other international
4,344

 
(124
)
 
702

 
(76
)
 
5,046

 
(200
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
3,858

 
(54
)
 
14,477

 
(1,650
)
 
18,335

 
(1,704
)
Fixed income
134,669

 
(5,527
)
 
64,009

 
(28,122
)
 
198,678

 
(33,649
)
Private equity

 

 
6,589

 
(5,153
)
 
6,589

 
(5,153
)
Other

 

 
282

 
(33
)
 
282

 
(33
)
Total temporarily impaired securities
$
269,357

 
$
(15,577
)
 
$
122,667

 
$
(39,249
)
 
$
392,024

 
$
(54,826
)
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, 2014
 
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
$
1,247

 
$
(11
)
 
$
2

 
$

 
$
1,249

 
$
(11
)
Canadian government
18,422

 
(146
)
 
1,818

 
(58
)
 
20,240

 
(204
)
Corporate
15,687

 
(148
)
 
3,204

 
(161
)
 
18,891

 
(309
)
Residential mortgage-backed
685

 
(14
)
 
11

 
(1
)
 
696

 
(15
)
Asset-backed
391

 
(4
)
 
15

 

 
406

 
(4
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
3,362

 
(57
)
 
46

 
(5
)
 
3,408

 
(62
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
25,383

 
(1,519
)
 
2,755

 
(782
)
 
28,138

 
(2,301
)
Canada
1,233

 
(35
)
 
1,664

 
(544
)
 
2,897

 
(579
)
Other international
1,847

 
(21
)
 
1,020

 
(145
)
 
2,867

 
(166
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
397

 
(15
)
 
118

 
(12
)
 
515

 
(27
)
Fixed income
49,171

 
(893
)
 
9,632

 
(237
)
 
58,803

 
(1,130
)
Private equity

 

 
20,256

 
(8,753
)
 
20,256

 
(8,753
)
Other
14

 
(10
)
 
9,891

 

 
9,905

 
(10
)
Total temporarily impaired securities
$
117,839

 
$
(2,873
)
 
$
50,432

 
$
(10,698
)
 
$
168,271

 
$
(13,571
)

 
December 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
$
1,339

 
$
(14
)
 
$
20

 
$

 
$
1,359

 
$
(14
)
Canadian government
15,777

 
(214
)
 
5,131

 
(245
)
 
20,908

 
(459
)
Corporate
22,534

 
(129
)
 
3,299

 
(134
)
 
25,833

 
(263
)
Residential mortgage-backed
2,960

 
(18
)
 
10

 
(1
)
 
2,970

 
(19
)
Asset-backed
2,835

 
(10
)
 
15

 
(1
)
 
2,850

 
(11
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
14,650

 
(245
)
 
44

 
(7
)
 
14,694

 
(252
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
23,825

 
(1,561
)
 
3,254

 
(526
)
 
27,079

 
(2,087
)
Canada
667

 
(129
)
 
1,794

 
(494
)
 
2,461

 
(623
)
Other international
1,540

 
(54
)
 
525

 
(113
)
 
2,065

 
(167
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
391

 
(14
)
 
163

 
(21
)
 
554

 
(35
)
Fixed income
181,701

 
(2,090
)
 
28,507

 
(508
)
 
210,208

 
(2,598
)
Private equity

 

 
19,242

 
(9,002
)
 
19,242

 
(9,002
)
Other

 

 
9,738

 
(84
)
 
9,738

 
(84
)
Total temporarily impaired securities
$
268,219

 
$
(4,478
)
 
$
71,742

 
$
(11,136
)
 
$
339,961

 
$
(15,614
)

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,
 
2014
 
2013
 
(In thousands)
Deposits
$
28,271

 
$
25,268

Withdrawals
34,348

 
29,881

Purchases of available-for-sale securities
98,758

 
105,722

Sales of available-for-sale securities
92,317

 
125,743

Realized gains from sales of available-for-sale securities
25,532

 
16,576

Realized losses from sales of available-for-sale securities
(2,299
)
 
(2,170
)
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, 2014 and December 31, 2013 are as follows:
 
March 31, 2014
 
December 31, 2013
 
(In thousands)
Trust investments, at fair value
$
1,551,178

 
$
1,553,719

Cash and cash equivalents
144,265

 
138,459

Assets associated with businesses held for sale
(112,275
)
 
(107,481
)
Insurance-backed fixed income securities
4

 
4

Trust investments
1,583,172

 
1,584,701

Receivables from customers
799,992

 
800,005

Unearned finance charges
(28,163
)
 
(27,873
)
 
2,355,001

 
2,356,833

Allowance for cancellation
(53,368
)
 
(55,922
)
Preneed cemetery receivables, net and trust investments
$
2,301,633

 
$
2,300,911

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
March 31, 2014
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
95,784

 
$
1,889

 
$
(6,555
)
 
$
91,118

Canadian government
2
 
17,872

 
197

 
(115
)
 
17,954

Corporate
2
 
45,148

 
6,188

 
(401
)
 
50,935

Residential mortgage-backed
2
 
395

 
3

 
(3
)
 
395

Asset-backed
2
 
3,317

 
81

 

 
3,398

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
14,871

 
1,216

 
(45
)
 
16,042

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
434,792

 
138,660

 
(5,770
)
 
567,682

Canada
1
 
14,972

 
4,235

 
(891
)
 
18,316

Other international
1
 
42,993

 
9,336

 
(779
)
 
51,550

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
333,407

 
51,731

 
(1,485
)
 
383,653

Fixed income
1
 
341,016

 
7,690

 
(27,343
)
 
321,363

Private equity
3
 
28,281

 
3,924

 
(4,686
)
 
27,519

Other
3
 
1,043

 
216

 
(6
)
 
1,253

Trust investments
 
 
$
1,373,891

 
$
225,366

 
$
(48,079
)
 
$
1,551,178


 
December 31, 2013
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
113,621

 
$
1,714

 
$
(8,876
)
 
$
106,459

Canadian government
2
 
17,073

 
170

 
(261
)
 
16,982

Corporate
2
 
48,970

 
5,262

 
(646
)
 
53,586

Residential mortgage-backed
2
 
408

 
2

 
(2
)
 
408

Asset-backed
2
 
3,346

 

 
(13
)
 
3,333

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
16,708

 
1,106

 
(123
)
 
17,691

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
425,246

 
147,258

 
(3,231
)
 
569,273

Canada
1
 
15,368

 
4,063

 
(935
)
 
18,496

Other international
1
 
44,184

 
10,079

 
(200
)
 
54,063

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
327,084

 
49,428

 
(1,704
)
 
374,808

Fixed income
1
 
338,944

 
5,236

 
(33,649
)
 
310,531

Private equity
3
 
28,625

 
3,372

 
(5,153
)
 
26,844

Other
3
 
1,078

 
200

 
(33
)
 
1,245

Trust investments
 
 
$
1,380,655

 
$
227,890

 
$
(54,826
)
 
$
1,553,719

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, 2014
 
March 31, 2013
 
Private Equity
 
Other
 
Private Equity
 
Other
Fair value, beginning balance
$
26,844

 
$
1,245

 
$
17,687

 
$
450

Net unrealized gains included in Accumulated other comprehensive income(1)
1,487

 
9

 
11,400

 
587

Net realized losses included in Other income (expense), net(2)
(8
)
 
(1
)
 
(7
)
 
(2
)
Contributions
499

 

 
662

 

Distributions
(1,303
)
 

 
(3,785
)
 

Fair value, ending balance
$
27,519

 
$
1,253

 
$
25,957

 
$
1,035

Investments Classified by Contractual Maturity Date [Table Text Block]
Maturity dates of our fixed income securities range from 2014 to 2043. Maturities of fixed income securities, excluding mutual funds, at March 31, 2014 are estimated as follows:
 
Fair Value
 
(In thousands)
Due in one year or less
$
8,842

Due in one to five years
71,928

Due in five to ten years
36,756

Thereafter
46,274

 
$
163,800