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Preneed Funeral Activities (Tables)
 9 Months Ended
Sep. 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 September 30, 2015 are shown in the following tables:
 
September 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
$
55,492

 
$
(1,257
)
 
$
13

 
$
(1
)
 
$
55,505

 
$
(1,258
)
Canadian government
1,242

 
(20
)
 
879

 
(66
)
 
2,121

 
(86
)
Corporate
204

 
(8
)
 
2,441

 
(104
)
 
2,645

 
(112
)
Residential mortgage-backed
27

 
—

 
19

 
(2
)
 
46

 
(2
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
300,606

 
(47,051
)
 
—

 
—

 
300,606

 
(47,051
)
Canada
789

 
(442
)
 
1,231

 
(749
)
 
2,020

 
(1,191
)
Other international
28,359

 
(9,341
)
 
—

 
—

 
28,359

 
(9,341
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
296,807

 
(48,088
)
 
1,889

 
(514
)
 
298,696

 
(48,602
)
Fixed income
259,288

 
(12,800
)
 
13,519

 
(553
)
 
272,807

 
(13,353
)
Private equity
—

 
—

 
8,325

 
(2,976
)
 
8,325

 
(2,976
)
Total temporarily impaired securities
$
942,814

 
$
(119,007
)
 
$
28,316

 
$
(4,965
)
 
$
971,130

 
$
(123,972
)


 
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
$
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.
 
September 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
$
3,262

 
$
(95
)
 
$
—

 
$
—

 
$
3,262

 
$
(95
)
Canadian government
15,585

 
(40
)
 
1,412

 
(114
)
 
16,997

 
(154
)
Corporate
2,112

 
(70
)
 
4,474

 
(209
)
 
6,586

 
(279
)
Residential mortgage-backed
200

 
(1
)
 
89

 
(6
)
 
289

 
(7
)
Asset-backed
131

 
(10
)
 
372

 
(16
)
 
503

 
(26
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
4,911

 
(626
)
 
—

 
—

 
4,911

 
(626
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
158,685

 
(21,941
)
 
—

 
—

 
158,685

 
(21,941
)
Canada
692

 
(303
)
 
923

 
(534
)
 
1,615

 
(837
)
Other international
10,060

 
(2,494
)
 
84

 
(29
)
 
10,144

 
(2,523
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
5,107

 
(1,432
)
 
255

 
(36
)
 
5,362

 
(1,468
)
Fixed income
822,656


(41,471
)

4,384


(453
)

827,040


(41,924
)
Private equity
—

 
—

 
14,564

 
(6,773
)
 
14,564

 
(6,773
)
Other
14

 
(11
)
 
5,587

 
(351
)
 
5,601

 
(362
)
Total temporarily impaired securities
$
1,023,415

 
$
(68,494
)
 
$
32,144

 
$
(8,521
)
 
$
1,055,559

 
$
(77,015
)

 
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
 
Nine Months Ended
 
September 30,
 
September 30,
 
2015
 
2014
 
2015
 
2014
 
(In thousands)
Deposits
$
30,143

 
$
23,618

 
$
92,623

 
$
76,490

Withdrawals
$
36,310

 
$
27,718

 
$
123,499

 
$
103,410

Purchases of available-for-sale securities
$
100,663

 
$
238,860

 
$
281,298

 
$
379,650

Sales of available-for-sale securities
$
110,642

 
$
274,630

 
$
282,960

 
$
445,880

Realized gains from sales of available-for-sale securities
$
9,341

 
$
18,935

 
$
23,546

 
$
50,947

Realized losses from sales of available-for-sale securities
$
(8,982
)
 
$
(2,094
)
 
$
(17,554
)
 
$
(6,233
)
Long-term receivable and investment components
The components of Preneed funeral receivables, net and trust investments in our unaudited condensed consolidated balance sheet at September 30, 2015 and December 31, 2014 are as follows:
 
September 30, 2015
 
December 31, 2014
 
(In thousands)
Trust investments, at fair value
$
1,098,236

 
$
1,205,747

Cash and cash equivalents
130,161

 
162,229

Insurance-backed fixed income securities
269,744

 
260,899

Trust investments
1,498,141

 
1,628,875

Receivables from customers
286,463

 
262,700

Unearned finance charge
(10,996
)
 
(11,054
)
 
1,773,608

 
1,880,521

Allowance for cancellation
(39,164
)
 
(37,498
)
Preneed funeral receivables, net and trust investments
$
1,734,444

 
$
1,843,023
Schedule of Available-for-sale Securities Reconciliation
The costs and fair values associated with trust investments measured at fair value at September 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.
 
September 30, 2015
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. Treasury
2
 
$
82,969

 
$
121

 
$
(1,248
)
 
$
81,842

Canadian government
2
 
75,703

 
556

 
(558
)
 
75,701

Corporate
2
 
21,521

 
364

 
(253
)
 
21,632

Residential mortgage-backed
2
 
1,449

 
37

 
(21
)
 
1,465

Asset-backed
2
 
5

 
—

 
—

 
5

Equity securities:
 
 
 
 
 
 
 
 
 
Preferred stock
2
 
1,939

 
22

 
(112
)
 
1,849

Common stock:
 
 
 
 
 
 
 
 
 
United States
1
 
351,048

 
18,956

 
(29,166
)
 
340,838

Canada
1
 
12,032

 
2,700

 
(1,069
)
 
13,663

Other international
1
 
36,612

 
1,403

 
(6,224
)
 
31,791

Mutual funds:
 
 
 
 
 
 
 
 
 
Equity
1
 
318,576

 
1,166

 
(41,814
)
 
277,928

Fixed income
1
 
221,425

 
434

 
(9,628
)
 
212,231

Private equity
3
 
34,994

 
4,450

 
(5,554
)
 
33,890

Other
3
 
4,427

 
989

 
(15
)
 
5,401

Trust investments
 
 
$
1,162,700

 
$
31,198

 
$
(95,662
)
 
$
1,098,236


 
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

September 30, 2015

September 30, 2014
 
Private Equity

Other

Private Equity

Other

(In thousands)
Fair value, beginning balance
$
34,366


$
7,111


$
27,339


$
4,476

Net unrealized gains (losses) included in Accumulated other comprehensive income(1)
1,859


(551
)

265


1,071

Net realized losses included in Other income (expense), net(2)
(7
)

(4
)

(7
)

(4
)
Purchases
—

 
—

 
289

 
—

Contributions
—


—


4,998


121

Distributions
(2,328
)

(1,155
)

(2,949
)

—

Fair value, ending balance
$
33,890


$
5,401


$
29,935


$
5,664



 
Nine Months Ended
 
September 30, 2015
 
September 30, 2014
 
Private Equity
 
Other
 
Private Equity
 
Other
 
(In thousands)
Fair value, beginning balance
$
28,325

 
$
5,706

 
$
26,885

 
$
1,810

Net unrealized gains (losses) included in Accumulated other comprehensive income(1)
6,048

 
533

 
(1,370
)
 
3,927

Net realized losses included in Other income (expense), net (2)
(45
)
 
(17
)
 
(21
)
 
(5
)
Purchases
—

 
23

 
3,244

 
—

Sales
(36
)
 
—

 
—

 
—

Contributions
4,632

 
1,226

 
5,955

 
121

Distributions
(5,034
)
 
(2,070
)
 
(4,758
)
 
(189
)
Fair value, ending balance
$
33,890

 
$
5,401

 
$
29,935

 
$
5,664
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 September 30, 2015 are estimated as follows:
 
Fair Value
 
(In thousands)
Due in one year or less
$
111,193

Due in one to five years
25,996

Due in five to ten years
29,213

Thereafter
14,243

 
$
180,645
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 September 30, 2015 and December 31, 2014, respectively, are shown in the following tables:
 
September 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
$
42,465

 
$
(1,209
)
 
$
4,419

 
$
(39
)
 
$
46,884

 
$
(1,248
)
Canadian government
1,433

 
(5
)
 
12,058

 
(553
)
 
13,491

 
(558
)
Corporate
5,611

 
(152
)
 
2,666

 
(101
)
 
8,277

 
(253
)
Residential mortgage-backed
262


(5
)

224


(16
)

486


(21
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
534

 
(112
)
 
—

 
—

 
534

 
(112
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
188,385

 
(29,166
)
 
—

 
—

 
188,385

 
(29,166
)
Canada
3,428

 
(692
)
 
545

 
(377
)
 
3,973

 
(1,069
)
Other international
17,715

 
(6,034
)
 
606

 
(190
)
 
18,321

 
(6,224
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
257,015

 
(38,133
)
 
13,346

 
(3,681
)
 
270,361

 
(41,814
)
Fixed income
177,919

 
(9,038
)
 
12,059

 
(590
)
 
189,978

 
(9,628
)
Private equity
—

 
—

 
17,031

 
(5,554
)
 
17,031

 
(5,554
)
Other
—

 
—

 
442

 
(15
)
 
442

 
(15
)
Total temporarily impaired securities
$
694,767

 
$
(84,546
)
 
$
63,396

 
$
(11,116
)
 
$
758,163

 
$
(95,662
)

 
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
)