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Preneed Cemetery Activities (Tables)
 9 Months Ended
Sep. 30, 2014
Preneed Cemetery Receivables, Net and Trust Investments [Line Items]  
Schedule of Unrealized Loss on Investments
Our cemetery merchandise and service trust investment unrealized losses, their associated fair values and the duration of unrealized losses as of September 30, 2014 are shown in the following tables:
 
September 30, 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
$
18,019

 
$
(2
)
 
$
—

 
$
—

 
$
18,019

 
$
(2
)
Canadian government
4,848

 
(79
)
 
2,573

 
(78
)
 
7,421

 
(157
)
Corporate
12,875

 
(167
)
 
—

 
—

 
12,875

 
(167
)
Residential mortgage-backed
—

 
—

 
45

 
(2
)
 
45

 
(2
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Common stock:
 
 
 
 
 
 
 
 
 
 
 
Canada
1,450

 
(318
)
 
1,281

 
(59
)
 
2,731

 
(377
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Fixed income
103,587

 
(656
)
 
—

 
—

 
103,587

 
(656
)
Private equity
—

 
—

 
8,682

 
(4,050
)
 
8,682

 
(4,050
)
Total temporarily impaired securities
$
140,779

 
$
(1,222
)
 
$
12,581

 
$
(4,189
)
 
$
153,360

 
$
(5,411
)


 
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
$
44,543

 
$
(6,040
)
 
$
24,668

 
$
(2,836
)
 
$
69,211

 
$
(8,876
)
Canadian government
9,424

 
(120
)
 
3,066

 
(141
)
 
12,490

 
(261
)
Corporate
14,908

 
(424
)
 
3,055

 
(222
)
 
17,963

 
(646
)
Residential mortgage-backed
143

 
(2
)
 
—

 
—

 
143

 
(2
)
Asset-backed
3,215

 
(13
)
 
—

 
—

 
3,215

 
(13
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
5,532

 
(123
)
 
—

 
—

 
5,532

 
(123
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
45,730

 
(2,648
)
 
3,447

 
(583
)
 
49,177

 
(3,231
)
Canada
1,562

 
(502
)
 
1,935

 
(433
)
 
3,497

 
(935
)
Other international
4,288

 
(124
)
 
692

 
(76
)
 
4,980

 
(200
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
3,809

 
(54
)
 
14,260

 
(1,650
)
 
18,069

 
(1,704
)
Fixed income
132,945

 
(5,527
)
 
63,050

 
(28,122
)
 
195,995

 
(33,649
)
Private equity
—

 
—

 
6,589

 
(5,153
)
 
6,589

 
(5,153
)
Other
—

 
—

 
283

 
(33
)
 
283

 
(33
)
Total temporarily impaired securities
$
266,099

 
$
(15,577
)
 
$
121,045

 
$
(39,249
)
 
$
387,144

 
$
(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.
 
September 30, 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
$
494

 
$
(3
)
 
$
—

 
$
—

 
$
494

 
$
(3
)
Canadian government
7,820

 
(137
)
 
4,145

 
(138
)
 
11,965

 
(275
)
Corporate
5,238

 
(107
)
 
4,069

 
(182
)
 
9,307

 
(289
)
Residential mortgage-backed
197

 
(3
)
 
240

 
(9
)
 
437

 
(12
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,861

 
(1
)
 
—

 
—

 
1,861

 
(1
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
32,475

 
(107
)
 
—

 
—

 
32,475

 
(107
)
Canada
1,113

 
(83
)
 
1,237

 
(213
)
 
2,350

 
(296
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
32,624

 
(15
)
 
—

 
—

 
32,624

 
(15
)
Fixed income
321,197


(110
)

—


—


321,197


(110
)
Private equity
10,428

 
(462
)
 
15,886

 
(9,967
)
 
26,314

 
(10,429
)
Other
4,085

 
(191
)
 
6,183

 
(1,621
)
 
10,268

 
(1,812
)
Total temporarily impaired securities
$
417,532

 
$
(1,219
)
 
$
31,760

 
$
(12,130
)
 
$
449,292

 
$
(13,349
)

 
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
$
1,334

 
$
(14
)
 
$
—

 
$
—

 
$
1,334

 
$
(14
)
Canadian government
15,777

 
(214
)
 
5,131

 
(245
)
 
20,908

 
(459
)
Corporate
22,482

 
(129
)
 
3,298

 
(134
)
 
25,780

 
(263
)
Residential mortgage-backed
2,950

 
(18
)
 
10

 
(1
)
 
2,960

 
(19
)
Asset-backed
2,826

 
(10
)
 
15

 
(1
)
 
2,841

 
(11
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
14,602

 
(245
)
 
43

 
(7
)
 
14,645


(252
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
23,747

 
(1,561
)
 
3,234

 
(526
)
 
26,981

 
(2,087
)
Canada
667

 
(129
)
 
1,794

 
(494
)
 
2,461

 
(623
)
Other international
1,535

 
(54
)
 
521

 
(113
)
 
2,056

 
(167
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
389

 
(14
)
 
162

 
(21
)
 
551

 
(35
)
Fixed income
181,104

 
(2,090
)
 
28,304

 
(508
)
 
209,408

 
(2,598
)
Private equity
—

 
—

 
19,242

 
(9,002
)
 
19,242

 
(9,002
)
Other
—

 
—

 
9,739

 
(84
)
 
9,739

 
(84
)
Total temporarily impaired securities
$
267,413

 
$
(4,478
)
 
$
71,493

 
$
(11,136
)
 
$
338,906

 
$
(15,614
)
Cemetery
  
Preneed Cemetery Receivables, Net and Trust Investments [Line Items]  
Investment related activities
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,
 
2014
 
2013
 
2014
 
2013
 
(In thousands)
Deposits
$
34,018

 
$
27,407

 
$
95,421

 
$
81,019

Withdrawals
33,669

 
26,542

 
96,238

 
89,881

Purchases of available-for-sale securities
247,853

 
98,803

 
458,176

 
395,200

Sales of available-for-sale securities
285,411

 
73,171

 
481,258

 
407,503

Realized gains from sales of available-for-sale securities
40,635

 
19,965

 
86,822

 
66,284

Realized losses from sales of available-for-sale securities
(4,439
)
 
(3,454
)
 
(10,564
)
 
(12,509
)
Long-term receivable and investment components
The components of Preneed cemetery receivables, net and trust investments in our unaudited condensed consolidated balance sheet at September 30, 2014 and December 31, 2013 are as follows:
 
September 30, 2014
 
December 31, 2013
 
(In thousands)
Trust investments, at fair value
$
1,478,069

 
$
1,532,875

Cash and cash equivalents
127,576

 
138,459

Assets associated with businesses held for sale
(28,179
)
 
(106,815
)
Insurance-backed fixed income securities
13

 
4

Trust investments
1,577,479

 
1,564,523

Receivables from customers
856,330

 
798,365

Unearned finance charges
(32,277
)
 
(29,604
)
 
2,401,532

 
2,333,284

Allowance for cancellation
(64,140
)
 
(55,922
)
Preneed cemetery receivables, net and trust investments
$
2,337,392

 
$
2,277,362
Schedule of Available-for-sale Securities Reconciliation
Our cemetery merchandise and service trust investments are recorded at fair value. The costs and fair values at September 30, 2014 and December 31, 2013 are detailed below. Cost reflects the investment (net of redemptions) of control holders in common trust funds, mutual funds, and private equity investments. Fair value represents the market value of the underlying securities held by the common trust funds, mutual funds at published values, and the estimated fair value of private equity investments.
 
September 30, 2014
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
101,400

 
$
1,617

 
$
(2
)
 
$
103,015

Canadian government
2
 
17,719

 
217

 
(157
)
 
17,779

Corporate
2
 
41,849

 
5,010

 
(167
)
 
46,692

Residential mortgage-backed
2
 
132

 
3

 
(2
)
 
133

Asset-backed
2
 
169

 
13

 
—

 
182

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
9,938

 
522

 
—

 
10,460

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
372,178

 
112,471

 
—

 
484,649

Canada
1
 
13,207

 
5,712

 
(377
)
 
18,542

Other international
1
 
32,440

 
8,528

 
—

 
40,968

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
372,803

 
42,998

 
—

 
415,801

Fixed income
1
 
301,458

 
7,195

 
(656
)
 
307,997

Private equity
3
 
30,240

 
4,647

 
(4,050
)
 
30,837

Other
3
 
818

 
196

 
—

 
1,014

Trust investments
 
 
$
1,294,351

 
$
189,129

 
$
(5,411
)
 
$
1,478,069


 
December 31, 2013
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
112,112

 
$
1,714

 
$
(8,876
)
 
$
104,950

Canadian government
2
 
17,073

 
170

 
(261
)
 
16,982

Corporate
2
 
48,363

 
5,262

 
(646
)
 
52,979

Residential mortgage-backed
2
 
402

 
2

 
(2
)
 
402

Asset-backed
2
 
3,299

 
—

 
(13
)
 
3,286

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
16,458

 
1,106

 
(123
)
 
17,441

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
417,335

 
147,258

 
(3,231
)
 
561,362

Canada
1
 
15,337

 
4,063

 
(935
)
 
18,465

Other international
1
 
43,417

 
10,079

 
(200
)
 
53,296

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
321,770

 
49,428

 
(1,704
)
 
369,494

Fixed income
1
 
334,542

 
5,236

 
(33,649
)
 
306,129

Private equity
3
 
28,625

 
3,372

 
(5,153
)
 
26,844

Other
3
 
1,078

 
200

 
(33
)
 
1,245

Trust investments
 
 
$
1,359,811

 
$
227,890

 
$
(54,826
)
 
$
1,532,875
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The change in our market-based cemetery merchandise and service trust investments with significant unobservable inputs (Level 3) is as follows:
 
Three Months Ended
 
September 30, 2014
 
September 30, 2013
 
Private Equity
 
Other
 
Private Equity
 
Other
 
(In thousands)
Fair value, beginning balance
$
27,557

 
$
1,078

 
$
26,627

 
$
1,258

Net unrealized gains (losses) included in Accumulated other comprehensive income(1)
1,056


(186
)

2,015


277

Net realized losses included in Other (expense) income, net(2)
(8
)
 
(5
)
 
—

 
—

Contributions
5,379

 
127

 
21

 
—

Distributions and other
(3,147
)
 
—

 
(1,248
)
 
(205
)
Fair value, ending balance
$
30,837

 
$
1,014

 
$
27,415

 
$
1,330



 
Nine Months Ended
 
September 30, 2014
 
September 30, 2013
 
Private Equity
 
Other
 
Private Equity
 
Other
 
(In thousands)
Fair value, beginning balance
$
26,844

 
$
1,245

 
$
17,687

 
$
450

Net unrealized gains (losses) included in Accumulated other comprehensive income(1)
2,666

 
(149
)
 
15,245

 
1,253

Net realized losses included in Other (expense) income, net(2)
(23
)
 
(6
)
 
(13
)
 
(3
)
Contributions
6,404

 
127

 
2,356

 
—

Distributions and other
(5,054
)
 
(203
)
 
(7,860
)
 
(370
)
Fair value, ending balance
$
30,837

 
$
1,014

 
$
27,415

 
$
1,330
Investments Classified by Contractual Maturity Date
Maturity dates of our fixed income securities range from 2014 to 2043. Maturities of fixed income securities, excluding mutual funds, at September 30, 2014 are estimated as follows:
 
Fair Value
 
(In thousands)
Due in one year or less
$
9,700

Due in one to five years
75,924

Due in five to ten years
34,330

Thereafter
47,847

 
$
167,801