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Preneed Funeral Activities (Tables)
 6 Months Ended
Jun. 30, 2015
Preneed funeral receivables net and trust investments [Line Items]  
Schedule of Unrealized Loss on Investments
Our merchandise and service trust investment unrealized losses, their associated fair values and the duration of unrealized losses as of June 30, 2015 are shown in the following tables:
 
June 30, 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
$
48,735

 
$
(676
)
 
$
38

 
$
(2
)
 
$
48,773

 
$
(678
)
Canadian government
1,350

 
(20
)
 
3,203

 
(136
)
 
4,553

 
(156
)
Corporate
178

 
(5
)
 
3,497

 
(140
)
 
3,675

 
(145
)
Residential mortgage-backed
34

 
(1
)
 
20

 
(1
)
 
54

 
(2
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
224,331

 
(20,299
)
 
—

 
—

 
224,331

 
(20,299
)
Canada
2,642

 
(645
)
 
445

 
(291
)
 
3,087

 
(936
)
Other international
20,427

 
(3,930
)
 
—

 
—

 
20,427

 
(3,930
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
204,323

 
(7,709
)
 
—

 
—

 
204,323

 
(7,709
)
Fixed income
274,186

 
(7,339
)
 
15,093

 
(599
)
 
289,279

 
(7,938
)
Private equity
—

 
—

 
10,398

 
(3,191
)
 
10,398

 
(3,191
)
Other
—

 
—

 
672

 
(140
)
 
672

 
(140
)
Total temporarily impaired securities
$
776,206

 
$
(40,624
)
 
$
33,366

 
$
(4,500
)
 
$
809,572

 
$
(45,124
)


 
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.
 
June 30, 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
$
3,377

 
$
(57
)
 
$
135

 
$
(2
)
 
$
3,512

 
$
(59
)
Canadian government
2,159

 
(35
)
 
5,112

 
(236
)
 
7,271

 
(271
)
Corporate
3,221

 
(54
)
 
5,608

 
(237
)
 
8,829

 
(291
)
Residential mortgage-backed
143

 
(3
)
 
209

 
(6
)
 
352

 
(9
)
Asset-backed
150

 
(19
)
 
—

 
—

 
150

 
(19
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
4,690

 
(374
)
 
—

 
—

 
4,690

 
(374
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
106,485

 
(8,153
)
 
—

 
—

 
106,485

 
(8,153
)
Canada
1,548

 
(278
)
 
725

 
(393
)
 
2,273

 
(671
)
Other international
8,297

 
(1,439
)
 
—

 
—

 
8,297

 
(1,439
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
3,784

 
(577
)
 
107

 
(16
)
 
3,891

 
(593
)
Fixed income
835,332


(19,029
)

2,691


(118
)

838,023


(19,147
)
Private equity
7

 
(1
)
 
15,007

 
(7,463
)
 
15,014

 
(7,464
)
Other
5

 
(1
)
 
5,504

 
(481
)
 
5,509

 
(482
)
Total temporarily impaired securities
$
969,198

 
$
(30,020
)
 
$
35,098

 
$
(8,952
)
 
$
1,004,296

 
$
(38,972
)

 
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 these preneed merchandise and service trusts:
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2015
 
2014
 
2015
 
2014
 
(In thousands)
Deposits
$
32,485

 
$
24,949

 
$
62,480

 
$
52,872

Withdrawals
$
41,745

 
$
31,955

 
$
87,189

 
$
75,692

Purchases of available-for-sale securities
$
76,404

 
$
79,305

 
$
180,635

 
$
140,790

Sales of available-for-sale securities
$
89,998

 
$
107,199

 
$
172,318

 
$
171,250

Realized gains from sales of available-for-sale securities
$
9,856

 
$
15,911

 
$
14,205

 
$
32,012

Realized losses from sales of available-for-sale securities
$
(3,838
)
 
$
(2,665
)
 
$
(8,572
)
 
$
(4,139
)
Long-term receivable and investment components
The components of Preneed funeral receivables, net and trust investments in our unaudited condensed consolidated balance sheet at June 30, 2015 and December 31, 2014 are as follows:
 
June 30, 2015
 
December 31, 2014
 
(In thousands)
Trust investments, at fair value
$
1,193,718

 
$
1,205,747

Cash and cash equivalents
129,786

 
162,229

Assets associated with businesses held for sale
(178
)
 
—

Insurance-backed fixed income securities
273,618

 
260,899

Trust investments
1,596,944

 
1,628,875

Receivables from customers
282,664

 
262,700

Unearned finance charge
(11,428
)
 
(11,054
)
 
1,868,180

 
1,880,521

Allowance for cancellation
(39,109
)
 
(37,498
)
Preneed funeral receivables, net and trust investments
$
1,829,071

 
$
1,843,023
Schedule of Available-for-sale Securities Reconciliation
The costs and fair values associated with trust investments measured at fair value at June 30, 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.
 
June 30, 2015
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
84,838

 
$
278

 
$
(557
)
 
$
84,559

Canadian government
2
 
81,258

 
669

 
(538
)
 
81,389

Corporate
2
 
23,071

 
485

 
(185
)
 
23,371

Residential mortgage-backed
2
 
1,394

 
22

 
(20
)
 
1,396

Asset-backed
2
 
5

 
—

 
—

 
5

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
1,934

 
81

 
(81
)
 
1,934

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
360,907

 
31,539

 
(12,507
)
 
379,939

Canada
1
 
13,769

 
3,427

 
(1,023
)
 
16,173

Other international
1
 
34,518

 
2,653

 
(2,736
)
 
34,435

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
303,237

 
5,085

 
(7,519
)
 
300,803

Fixed income
1
 
233,625

 
488

 
(5,876
)
 
228,237

Private equity
3
 
36,366

 
3,929

 
(5,929
)
 
34,366

Other
3
 
6,024

 
1,232

 
(145
)
 
7,111

Trust investments
 
 
$
1,180,946

 
$
49,888

 
$
(37,116
)
 
$
1,193,718


 
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 trust investments measured at fair value with significant unobservable inputs (Level 3) is as follows:
 
Three Months Ended

June 30, 2015

June 30, 2014
 
Private Equity

Other

Private Equity

Other

(In thousands)
Fair value, beginning balance
$
31,043


$
7,324


$
27,514


$
3,839

Net unrealized gains (losses) included in Accumulated other comprehensive income(1)
713


(868
)

(1,165
)

820

Net realized losses included in Other (expense) income, net(2)
(21
)

(5
)

(6
)

(1
)
Purchases
—

 
23

 
1,068

 
—

Sales
(36
)
 
—

 
—

 
—

Contributions
4,092


975


490


—

Distributions
(1,425
)

(338
)

(562
)

(189
)
Fair value, ending balance
$
34,366


$
7,111


$
27,339


$
4,469



 
Six Months Ended
 
June 30, 2015
 
June 30, 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)
4,189

 
1,084

 
(1,635
)
 
2,856

Net realized losses included in Other (expense) income, net(2)
(38
)
 
(13
)
 
(14
)
 
(1
)
Purchases
—

 
23

 
2,955

 
—

Sales
(36
)
 
—

 
—

 
—

Contributions
4,632

 
1,226

 
957

 
—

Distributions
(2,706
)
 
(915
)
 
(1,809
)
 
(189
)
Fair value, ending balance
$
34,366

 
$
7,111

 
$
27,339

 
$
4,469
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 June 30, 2015 are estimated as follows:
 
Fair Value
 
(In thousands)
Due in one year or less
$
111,750

Due in one to five years
31,879

Due in five to ten years
32,174

Thereafter
14,917

 
$
190,720
Schedule of Unrealized Loss on Investments
Our merchandise and service trust investment unrealized losses, their associated fair values, and the duration of unrealized losses as of June 30, 2015 and December 31, 2014, respectively, are shown in the following tables:
 
June 30, 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
$
33,733

 
$
(501
)
 
$
4,846

 
$
(56
)
 
$
38,579

 
$
(557
)
Canadian government
242

 
(4
)
 
13,526

 
(534
)
 
13,768

 
(538
)
Corporate
5,587

 
(78
)
 
2,861

 
(107
)
 
8,448

 
(185
)
Residential mortgage-backed
335


(5
)

232


(15
)

567


(20
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
176

 
(81
)
 
—

 
—

 
176

 
(81
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
140,010

 
(12,507
)
 
—

 
—

 
140,010

 
(12,507
)
Canada
3,196

 
(679
)
 
881

 
(344
)
 
4,077

 
(1,023
)
Other international
14,091

 
(2,736
)
 
—

 
—

 
14,091

 
(2,736
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
170,796

 
(7,149
)
 
3,836

 
(370
)
 
174,632

 
(7,519
)
Fixed income
195,304

 
(5,350
)
 
9,945

 
(526
)
 
205,249

 
(5,876
)
Private equity
—

 
—

 
18,452

 
(5,929
)
 
18,452

 
(5,929
)
Other
—

 
—

 
1,143

 
(145
)
 
1,143

 
(145
)
Total temporarily impaired securities
$
563,470

 
$
(29,090
)
 
$
55,722

 
$
(8,026
)
 
$
619,192

 
$
(37,116
)

 
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
)