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Preneed Funeral Activities (Tables)
 3 Months Ended
Mar. 31, 2015
Preneed funeral 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 March 31, 2015 are shown in the following tables:
 
March 31, 2015
 
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
$
12,955

 
$
(53
)
 
$
14

 
$
(1
)
 
$
12,969

 
$
(54
)
Canadian government
1,263

 
(3
)
 
3,146

 
(111
)
 
4,409

 
(114
)
Corporate
175

 
(3
)
 
3,381

 
(73
)
 
3,556

 
(76
)
Residential mortgage-backed
29

 
—

 
21

 
(1
)
 
50

 
(1
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
215,891

 
(17,833
)
 
—

 
—

 
215,891

 
(17,833
)
Canada
2,573

 
(326
)
 
552

 
(375
)
 
3,125

 
(701
)
Other international
21,396

 
(3,746
)
 
—

 
—

 
21,396

 
(3,746
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
213,762

 
(7,126
)
 
69

 
(7
)
 
213,831

 
(7,133
)
Fixed income
39,290

 
(5,955
)
 
15,036

 
(494
)
 
54,326

 
(6,449
)
Private equity
—

 
—

 
7,397

 
(3,185
)
 
7,397

 
(3,185
)
Other
—

 
—

 
654

 
(296
)
 
654

 
(296
)
Total temporarily impaired securities
$
507,334

 
$
(35,045
)
 
$
30,270

 
$
(4,543
)
 
$
537,604

 
$
(39,588
)


 
December 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
$
45,072

 
$
(605
)
 
$
—

 
$
—

 
$
45,072

 
$
(605
)
Canadian government
—

 
—

 
4,858

 
(134
)
 
4,858

 
(134
)
Corporate
2,017

 
(61
)
 
1,936

 
(55
)
 
3,953

 
(116
)
Residential mortgage-backed
33

 
(1
)
 
—

 
—

 
33

 
(1
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
192,015

 
(11,706
)
 
585

 
—

 
192,600

 
(11,706
)
Canada
2,069

 
(319
)
 
778

 
(522
)
 
2,847

 
(841
)
Other international
28,308

 
(2,395
)
 
—

 
—

 
28,308

 
(2,395
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
303,211

 
(18,329
)
 
1,577

 
(101
)
 
304,788

 
(18,430
)
Fixed income
159,572

 
(4,106
)
 
15,113

 
(596
)
 
174,685

 
(4,702
)
Private equity
88

 
(100
)
 
7,518

 
(6,083
)
 
7,606

 
(6,183
)
Other
2

 
(3
)
 
259

 
(68
)
 
261

 
(71
)
Total temporarily impaired securities
$
732,387

 
$
(37,625
)
 
$
32,624

 
$
(7,559
)
 
$
765,011

 
$
(45,184
)
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, 2015
 
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
$
436

 
$
(3
)
 
$
68

 
$
(1
)
 
$
504

 
$
(4
)
Canadian government
2,103

 
(6
)
 
4,952

 
(193
)
 
7,055

 
(199
)
Corporate
1,013

 
(22
)
 
5,360

 
(117
)
 
6,373

 
(139
)
Residential mortgage-backed
160

 
(1
)
 
213

 
(5
)
 
373

 
(6
)
Asset-backed
371

 
(8
)
 
—

 
—

 
371

 
(8
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
3,234

 
(164
)
 
54

 
—

 
3,288

 
(164
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
134,139

 
(8,864
)
 
152

 
—

 
134,291

 
(8,864
)
Canada
1,175

 
(160
)
 
701

 
(297
)
 
1,876

 
(457
)
Other international
8,550

 
(1,063
)
 
—

 
—

 
8,550

 
(1,063
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
2,649

 
(253
)
 
185

 
(14
)
 
2,834

 
(267
)
Fixed income
345,809


(10,054
)

2,045


(48
)

347,854


(10,102
)
Private equity
—

 
—

 
10,092

 
(7,240
)
 
10,092

 
(7,240
)
Other
—

 
—

 
4,380

 
(919
)
 
4,380

 
(919
)
Total temporarily impaired securities
$
499,639

 
$
(20,598
)
 
$
28,202

 
$
(8,834
)
 
$
527,841

 
$
(29,432
)

 
December 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
$
497

 
$
(4
)
 
$
—

 
$
—

 
$
497

 
$
(4
)
Canadian government
—

 
—

 
7,825

 
(233
)
 
7,825

 
(233
)
Corporate
4,656

 
(108
)
 
3,198

 
(102
)
 
7,854

 
(210
)
Residential mortgage-backed
256

 
(5
)
 
69

 
(1
)
 
325

 
(6
)
Asset-backed
373

 
(4
)
 
—

 
—

 
373

 
(4
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
2,224

 
(11
)
 
49

 
(1
)
 
2,273


(12
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
100,370

 
(4,803
)
 
419

 
(78
)
 
100,789

 
(4,881
)
Canada
2,418

 
(244
)
 
757

 
(352
)
 
3,175

 
(596
)
Other international
4,444

 
(399
)
 
—

 
—

 
4,444

 
(399
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
2,601

 
(85
)
 
153

 
(8
)
 
2,754

 
(93
)
Fixed income
576,890

 
(14,177
)
 
2,581

 
(86
)
 
579,471

 
(14,263
)
Private equity
9,213

 
(798
)
 
14,254

 
(9,990
)
 
23,467

 
(10,788
)
Other
4,069

 
(352
)
 
6,276

 
(2,180
)
 
10,345

 
(2,532
)
Total temporarily impaired securities
$
708,011

 
$
(20,990
)
 
$
35,581

 
$
(13,031
)
 
$
743,592

 
$
(34,021
)
Funeral  
Preneed funeral receivables net and trust investments [Line Items]  
Investment related activities
The table below sets forth certain investment-related activities associated with our preneed funeral merchandise and service trusts:
 
Three Months Ended
 
March 31,
 
2015
 
2014
 
(In thousands)
Deposits
$
29,995

 
$
27,923

Withdrawals
$
45,444

 
$
43,737

Purchases of available-for-sale securities
$
104,231

 
$
61,485

Sales of available-for-sale securities
$
82,320

 
$
64,051

Realized gains from sales of available-for-sale securities
$
4,349

 
$
16,101

Realized losses from sales of available-for-sale securities
$
(4,735
)
 
$
(1,474
)
Long-term receivable and investment components
The components of Preneed funeral receivables, net and trust investments in our unaudited condensed consolidated balance sheet at March 31, 2015 and December 31, 2014 are as follows:
 
March 31, 2015
 
December 31, 2014
 
(In thousands)
Trust investments, at fair value
$
1,218,591

 
$
1,205,747

Cash and cash equivalents
126,391

 
162,229

Insurance-backed fixed income securities
265,059

 
260,899

Trust investments
1,610,041

 
1,628,875

Receivables from customers
270,933

 
262,700

Unearned finance charge
(11,992
)
 
(11,054
)
 
1,868,982

 
1,880,521

Allowance for cancellation
(37,617
)
 
(37,498
)
Preneed funeral receivables, net and trust investments
$
1,831,365

 
$
1,843,023
Schedule of Available-for-sale Securities Reconciliation
The cost and market values associated with our funeral merchandise and service trust investments recorded at fair value at March 31, 2015 and December 31, 2014 are detailed below. Cost reflects the investment (net of redemptions) of control holders in the trusts. Fair value represents the value of the underlying securities held by the trusts.
 
March 31, 2015
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
82,111

 
$
1,132

 
$
(99
)
 
$
83,144

Canadian government
2
 
77,971

 
856

 
(356
)
 
78,471

Corporate
2
 
24,044

 
673

 
(121
)
 
24,596

Residential mortgage-backed
2
 
1,476

 
32

 
(15
)
 
1,493

Asset-backed
2
 
5

 
—

 
—

 
5

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
2,205

 
131

 
(62
)
 
2,274

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
369,115

 
31,162

 
(10,822
)
 
389,455

Canada
1
 
13,832

 
3,960

 
(738
)
 
17,054

Other international
1
 
35,885

 
2,637

 
(2,436
)
 
36,086

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
318,059

 
5,747

 
(7,309
)
 
316,497

Fixed income
1
 
233,082

 
2,726

 
(4,659
)
 
231,149

Private equity
3
 
33,031

 
4,180

 
(6,168
)
 
31,043

Other
3
 
6,305

 
1,341

 
(322
)
 
7,324

Trust investments
 
 
$
1,197,121

 
$
54,577

 
$
(33,107
)
 
$
1,218,591


 
December 31, 2014
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
85,775

 
$
468

 
$
(455
)
 
$
85,788

Canadian government
2
 
90,430

 
449

 
(874
)
 
90,005

Corporate
2
 
24,765

 
423

 
(126
)
 
25,062

Residential mortgage-backed
2
 
1,325

 
29

 
(12
)
 
1,342

Asset-backed
2
 
6

 
—

 
—

 
6

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
2,503

 
113

 
(113
)
 
2,503

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
377,441

 
18,533

 
(7,405
)
 
388,569

Canada
1
 
14,708

 
4,292

 
(895
)
 
18,105

Other international
1
 
38,035

 
1,175

 
(1,560
)
 
37,650

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
308,548

 
3,332

 
(15,901
)
 
295,979

Fixed income
1
 
229,414

 
869

 
(3,576
)
 
226,707

Private equity
3
 
35,094

 
2,649

 
(9,418
)
 
28,325

Other
3
 
5,084

 
726

 
(104
)
 
5,706

Trust investments
 
 
$
1,213,128

 
$
33,058

 
$
(40,439
)
 
$
1,205,747
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The change in our market-based funeral merchandise and service trust investments with significant unobservable inputs (Level 3) is as follows:
 
Three Months Ended

March 31, 2015

March 31, 2014
 
Private Equity

Other

Private Equity

Other

(In thousands)
Fair value, beginning balance
$
28,325


$
5,706


$
26,885


$
1,803

Net unrealized gains (losses) included in Accumulated other comprehensive income(1)
3,476


1,952


(470
)

2,036

Net realized losses included in Other (expense) income, net(2)
(17
)

(8
)

(8
)

—

Purchases
—

 
—

 
1,887

 
—

Contributions
540


251


467


—

Distributions
(1,281
)

(577
)

(1,247
)

—

Fair value, ending balance
$
31,043


$
7,324


$
27,514


$
3,839
Investments Classified by Contractual Maturity Date
Maturity dates of our fixed income securities range from 2015 to 2045. Maturities of fixed income securities, excluding mutual funds, at March 31, 2015 are estimated as follows:
 
Fair Value
 
(In thousands)
Due in one year or less
$
112,864

Due in one to five years
32,324

Due in five to ten years
30,115

Thereafter
12,406

 
$
187,709
Schedule of Unrealized Loss on Investments
Our funeral merchandise and service trust investment unrealized losses, their associated fair values, and the duration of unrealized losses as of March 31, 2015 and December 31, 2014, respectively, are shown in the following tables:
 
March 31, 2015
 
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
$
10,060

 
$
(57
)
 
$
4,790

 
$
(42
)
 
$
14,850

 
$
(99
)
Canadian government
229

 
(1
)
 
12,890

 
(355
)
 
13,119

 
(356
)
Corporate
4,491

 
(37
)
 
2,629

 
(84
)
 
7,120

 
(121
)
Residential mortgage-backed
267


(2
)

241


(13
)

508


(15
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
78

 
(62
)
 
—

 
—

 
78

 
(62
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
137,804

 
(10,822
)
 
367

 
—

 
138,171

 
(10,822
)
Canada
2,558

 
(501
)
 
860

 
(237
)
 
3,418

 
(738
)
Other international
14,324

 
(2,436
)
 
2

 
—

 
14,326

 
(2,436
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
104,675

 
(6,175
)
 
11,172

 
(1,134
)
 
115,847

 
(7,309
)
Fixed income
36,130


(4,334
)

10,995


(325
)

47,125


(4,659
)
Private equity
—

 
—

 
15,380

 
(6,168
)
 
15,380

 
(6,168
)
Other
—

 
—

 
1,303

 
(322
)
 
1,303

 
(322
)
Total temporarily impaired securities
$
310,616

 
$
(24,427
)
 
$
60,629

 
$
(8,680
)
 
$
371,245

 
$
(33,107
)

 
December 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
$
32,243

 
$
(412
)
 
$
4,978

 
$
(43
)
 
$
37,221

 
$
(455
)
Canadian government
2,894

 
(52
)
 
14,904

 
(822
)
 
17,798

 
(874
)
Corporate
4,988

 
(56
)
 
2,420

 
(70
)
 
7,408

 
(126
)
Residential mortgage-backed
217

 
(10
)
 
106

 
(2
)
 
323

 
(12
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
26

 
(113
)
 
—

 
—

 
26

 
(113
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
126,527

 
(7,403
)
 
438

 
(2
)
 
126,965

 
(7,405
)
Canada
1,752

 
(379
)
 
1,085

 
(516
)
 
2,837

 
(895
)
Other international
19,593

 
(1,557
)
 
2

 
(3
)
 
19,595

 
(1,560
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
233,827

 
(13,219
)
 
23,717

 
(2,682
)
 
257,544

 
(15,901
)
Fixed income
112,160

 
(3,128
)
 
11,452

 
(448
)
 
123,612

 
(3,576
)
Private equity
203

 
(461
)
 
13,870

 
(8,957
)
 
14,073

 
(9,418
)
Other
5

 
(11
)
 
464

 
(93
)
 
469

 
(104
)
Total temporarily impaired securities
$
534,435

 
$
(26,801
)
 
$
73,436

 
$
(13,638
)
 
$
607,871

 
$
(40,439
)