Deferred Preneed Funeral and Cemetery Receipts Held in Trust and Care Trusts’ Corpus

Deferred Preneed Funeral and Cemetery Receipts Held in Trust

We consolidate the merchandise and service trusts associated with our preneed funeral and cemetery activities as we are the primary beneficiary of the trusts. Although we consolidate the merchandise and service trusts, it does not change the legal relationships among the trusts, us, or our customers. The customers are the legal beneficiaries of these merchandise and service trusts; therefore, their interests in these trusts represent a liability to us.

The components of Deferred preneed funeral and cemetery receipts held in trust in our consolidated balance sheet at December 31, 2014 and 2013 are detailed below.



	December 31, 2014										December 31, 2013
	Preneed Funeral				Preneed Cemetery			Total			Preneed Funeral				Preneed Cemetery			Total
				(In thousands)										(In thousands)
Trust investments	$	1,628,875			$	1,526,653		$	3,155,528		$	1,665,977			$	1,585,291		$	3,251,268
Accrued trust operating payables and other	(2,487		)		(4,157		)	(6,644		)	(1,108		)		(1,697		)	(2,805		)
Deferred preneed funeral and cemetery receipts held in trust	$	1,626,388			$	1,522,496		$	3,148,884		$	1,664,869			$	1,583,594		$	3,248,463

Care Trusts’ Corpus

The Care trusts’ corpus reflected in our consolidated balance sheet represents the cemetery perpetual care trusts, including the related accrued expenses.

The components of Care trusts’ corpus in our consolidated balance sheet at December 31, 2014 and 2013 are detailed below.



	December 31, 2014			December 31, 2013
	(In thousands)
Cemetery perpetual care trust investments	$	1,341,376		$	1,342,591
Accrued trust operating payables and other	(13,718		)	(1,661		)
Care trusts’ corpus	$	1,327,658		$	1,340,930

Other Income (Expense), Net

The components of Other income (expense), net in our consolidated statement of operations for the years ended December 31, 2014, 2013, and 2012 are detailed below. See Notes 4, 5, and 6 for further discussion of the amounts related to our funeral, cemetery, and cemetery perpetual care trusts.



	Year Ended December 31, 2014
	Funeral Trusts			Cemetery Trusts			Cemetery Perpetual Care Trusts			Other, Net		Total
							(In thousands)
Realized gains	$	168,567		$	271,507		$	134,259		$	—	$	574,333
Realized losses	(113,748		)	(138,473		)	(51,093		)	—		(303,314		)
Impairment charges	(41,846		)	(60,040		)	(8,072		)	—		(109,958		)
Interest, dividend, and other ordinary income	22,668			17,597			35,464			—		75,729
Trust expenses and income taxes	(19,590		)	(20,833		)	(17,581		)	—		(58,004		)
Net trust investment income	16,051			69,758			92,977			—		178,786
Reclassification to deferred preneed funeral and cemetery receipts held in trust and care trusts’ corpus	(16,051		)	(69,758		)	(92,977		)	—		(178,786		)
Other income (expense), net	—			—			—			1,780		1,780
Total other income (expense), net	$	—		$	—		$	—		$	1,780	$	1,780



	Year Ended December 31, 2013
	Funeral Trusts			Cemetery Trusts			Cemetery Perpetual Care Trusts			Other, Net			Total
	(In thousands)
Realized gains	$	65,011		$	101,337		$	17,916		$	—		$	184,264
Realized losses	(9,732		)	(14,593		)	(2,738		)	—			(27,063		)
Impairment charges	(829		)	(1,575		)	(192		)	—			(2,596		)
Interest, dividend, and other ordinary income	24,912			20,527			27,452			—			72,891
Trust expenses and income taxes	(11,371		)	(14,633		)	(2,628		)	—			(28,632		)
Net trust investment income	67,991			91,063			39,810			—			198,864
Reclassification to deferred preneed funeral and cemetery receipts held in trust and care trusts’ corpus	(67,991		)	(91,063		)	(39,810		)	—			(198,864		)
Other income (expense), net	—			—			—			(558		)	(558		)
Total other income (expense), net	$	—		$	—		$	—		$	(558	)	$	(558	)



	December 31, 2012
	Funeral Trusts			Cemetery Trusts			Cemetery Perpetual Care Trusts			Other, Net		Total
							(In thousands)
Realized gains	$	60,833		$	87,665		$	11,463		$	—	$	159,961
Realized losses	(21,454		)	(29,397		)	(6,595		)	—		(57,446		)
Impairment charges	(781		)	(824		)	(760		)	—		(2,365		)
Interest, dividend, and other ordinary income	17,017			17,244			34,032			—		68,293
Trust expenses and income taxes	(10,685		)	(13,389		)	(1,355		)	—		(25,429		)
Net trust investment income	44,930			61,299			36,785			—		143,014
Reclassification to deferred preneed funeral and cemetery receipts held in trust and care trusts’ corpus	(44,930		)	(61,299		)	(36,785		)	—		(143,014		)
Other (expense) income, net	—			—			—			3,687		3,687
Total other (expense) income, net	$	—		$	—		$	—		$	3,687	$	3,687