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Preneed Cemetery Activities (Tables)
 3 Months Ended
Mar. 31, 2015
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 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
)
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
 
March 31,
 
2015
 
2014
 
(In thousands)
Deposits
$
35,161

 
$
28,271

Withdrawals
$
31,226

 
$
34,348

Purchases of available-for-sale securities
$
106,937

 
$
98,758

Sales of available-for-sale securities
$
99,262

 
$
92,317

Realized gains from sales of available-for-sale securities
$
7,135

 
$
25,532

Realized losses from sales of available-for-sale securities
$
(7,028
)
 
$
(2,299
)
Long-term receivable and investment components
The components of Preneed cemetery 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
$
1,433,749

 
$
1,404,298

Cash and cash equivalents
122,280

 
122,355

Trust investments
1,556,029

 
1,526,653

Receivables from customers
883,518

 
881,082

Unearned finance charges
(32,044
)
 
(31,524
)
 
2,407,503

 
2,376,211

Allowance for cancellation
(71,139
)
 
(69,542
)
Preneed cemetery receivables, net and trust investments
$
2,336,364

 
$
2,306,669
Schedule of Available-for-sale Securities Reconciliation
The cost and market values associated with our cemetery 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
 
$
62,247

 
$
1,347

 
$
(54
)
 
$
63,540

Canadian government
2
 
19,950

 
585

 
(114
)
 
20,421

Corporate
2
 
7,204

 
124

 
(76
)
 
7,252

Residential mortgage-backed
2
 
131

 
3

 
(1
)
 
133

Asset-backed
2
 
169

 
18

 
—

 
187

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
7

 
1

 
—

 
8

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
550,508

 
42,709

 
(17,833
)
 
575,384

Canada
1
 
11,136

 
5,101

 
(701
)
 
15,536

Other international
1
 
52,609

 
3,858

 
(3,746
)
 
52,721

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
348,259

 
6,516

 
(7,133
)
 
347,642

Fixed income
1
 
319,702

 
3,442

 
(6,449
)
 
316,695

Private equity
3
 
28,910

 
5,568

 
(3,185
)
 
31,293

Other
3
 
2,662

 
571

 
(296
)
 
2,937

Trust investments
 
 
$
1,403,494

 
$
69,843

 
$
(39,588
)
 
$
1,433,749


 
December 31, 2014
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
63,447

 
$
257

 
$
(605
)
 
$
63,099

Canadian government
2
 
21,687

 
261

 
(134
)
 
21,814

Corporate
2
 
8,725

 
122

 
(116
)
 
8,731

Residential mortgage-backed
2
 
111

 
3

 
(1
)
 
113

Asset-backed
2
 
170

 
16

 
—

 
186

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
10

 
1

 
—

 
11

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
557,955

 
22,746

 
(11,706
)
 
568,995

Canada
1
 
10,962

 
5,011

 
(841
)
 
15,132

Other international
1
 
55,632

 
1,605

 
(2,395
)
 
54,842

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
344,443

 
4,244

 
(18,430
)
 
330,257

Fixed income
1
 
314,600

 
679

 
(4,702
)
 
310,577

Private equity
3
 
32,342

 
3,185

 
(6,183
)
 
29,344

Other
3
 
1,082

 
186

 
(71
)
 
1,197

Trust investments
 
 
$
1,411,166

 
$
38,316

 
$
(45,184
)
 
$
1,404,298
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
 
March 31, 2015
 
March 31, 2014
 
Private Equity
 
Other
 
Private Equity
 
Other
 
(In thousands)
Fair value, beginning balance
$
29,344

 
$
1,197

 
$
26,844

 
$
1,245

Net unrealized gains included in Accumulated other comprehensive income(1)
2,724


2,077


1,487


9

Net realized losses included in Other (expense) income, net(2)
(17
)
 
(8
)
 
(8
)
 
(1
)
Contributions
562

 
266

 
499

 
—

Distributions
(1,320
)
 
(595
)
 
(1,303
)
 
—

Fair value, ending balance
$
31,293

 
$
2,937

 
$
27,519

 
$
1,253
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
$
13,190

Due in one to five years
40,020

Due in five to ten years
21,780

Thereafter
16,543

 
$
91,533