XML 26 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
Deferred Preneed Funeral and Cemetery Receipts Held in Trust and Care Trusts' Corpus (Notes)
 9 Months Ended
Sep. 30, 2016
Deferred Preneed Funeral and Cemetery Receipts Held in Trust and Care Trusts' Corpus [Abstract]  
Deferred Preneed Funeral And Cemetery Receipts Held In Trust And Care Trusts Corpus
Deferred Preneed Receipts Held in Trust and Care Trusts’ Corpus
Deferred Preneed Receipts Held in Trust
We consolidate the merchandise and service trusts associated with our preneed activities. Although the consolidation of the merchandise and service trusts is required by accounting standards, 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, and therefore their interests in these trusts represent a liability to us. The components of Deferred preneed receipts held in trust in our unaudited condensed Consolidated Balance Sheet at September 30, 2016 and December 31, 2015 are detailed below.
 
September 30, 2016
 
December 31, 2015
 
Preneed
Funeral
 
Preneed
Cemetery
 
Total
 
Preneed
Funeral
 
Preneed
Cemetery
 
Total
 
(In thousands)
Trust investments
$
1,559,964

 
$
1,565,805

 
$
3,125,769

 
$
1,515,113

 
$
1,462,499

 
$
2,977,612

Accrued trust operating payables and other
(271
)
 
(336
)
 
(607
)
 
(1,381
)
 
(2,845
)
 
(4,226
)
Deferred preneed receipts held in trust
$
1,559,693

 
$
1,565,469

 
$
3,125,162

 
$
1,513,732

 
$
1,459,654

 
$
2,973,386


Care Trusts’ Corpus
The Care trusts’ corpus reflected in our unaudited condensed Consolidated Balance Sheet represents the cemetery perpetual care trusts, including the related accrued expenses. The components of Care trusts’ corpus in our unaudited condensed Consolidated Balance Sheet at September 30, 2016 and December 31, 2015 are detailed below.
 
September 30, 2016
 
December 31, 2015
 
(In thousands)
Cemetery perpetual care trust investments
$
1,395,403

 
$
1,319,427

Accrued trust deferred taxes, operating payables, and other
1,124

 
137

Care trusts’ corpus
$
1,396,527

 
$
1,319,564


Other Income (Expense), Net
The components of Other income (expense), net in our unaudited condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2016 and 2015 are detailed below. See Notes 3, 4, and 5 for further discussion of the amounts related to the funeral, cemetery, and cemetery perpetual care trusts.
 
Three Months Ended September 30, 2016
 
Funeral
Trusts
 
Cemetery
Trusts
 
Cemetery Perpetual
Care Trusts
 
Other, Net
 
Total
 
 
 
(In thousands)
 
 
Realized gains
$
10,031

 
$
13,638

 
$
1,393

 
$
—

 
$
25,062

Realized losses
(5,988
)
 
(7,458
)
 
(591
)
 
—

 
(14,037
)
Impairment charges
(802
)
 
(1,086
)
 
—

 
—

 
(1,888
)
Interest, dividend, and other ordinary income
3,811

 
7,035

 
12,927

 
—

 
23,773

Trust expenses and income taxes
(5,374
)
 
(10,379
)
 
(5,774
)
 
—

 
(21,527
)
Net trust investment (loss) income
1,678

 
1,750

 
7,955

 
—

 
11,383

Reclassification to deferred preneed receipts held in trust and care trusts’ corpus
(1,678
)
 
(1,750
)
 
(7,955
)
 
—

 
(11,383
)
Other income, net
—

 
—

 
—

 
110

 
110

Total other income, net
$
—

 
$
—

 
$
—

 
$
110

 
$
110

 
Nine Months Ended September 30, 2016
 
Funeral
Trusts
 
Cemetery
Trusts
 
Cemetery Perpetual
Care Trusts
 
Other, Net
 
Total
 
 
 
(In thousands)
 
 
Realized gains
$
23,101

 
$
31,557

 
$
5,187

 
$
—

 
$
59,845

Realized losses
(35,840
)
 
(48,907
)
 
(5,932
)
 
—

 
(90,679
)
Impairment charges
(4,002
)
 
(5,767
)
 
(115
)
 
—

 
(9,884
)
Interest, dividend, and other ordinary income
12,539

 
10,750

 
39,982

 
—

 
63,271

Trust expenses and income taxes
(13,568
)
 
(16,599
)
 
(19,678
)
 
—

 
(49,845
)
Net trust investment (loss) income
(17,770
)
 
(28,966
)
 
19,444

 
—

 
(27,292
)
Reclassification to deferred preneed receipts held in trust and care trusts’ corpus
17,770

 
28,966

 
(19,444
)
 
—

 
27,292

Other expense, net
—

 
—

 
—

 
(697
)
 
(697
)
Total other expense, net
$
—

 
$
—

 
$
—

 
$
(697
)
 
$
(697
)
 
Three Months Ended September 30, 2015
 
Funeral
Trusts
 
Cemetery
Trusts
 
Cemetery Perpetual
Care Trusts
 
Other, Net
 
Total
 
 
 
(In thousands)
 
 
Realized gains
$
9,341

 
$
10,318

 
$
524

 
$
—

 
$
20,183

Realized losses
(8,982
)
 
(11,948
)
 
(156
)
 
—

 
(21,086
)
Impairment charges
(1,385
)
 
(1,761
)
 
(106
)
 
—

 
(3,252
)
Interest, dividend, and other ordinary income
4,244

 
4,360

 
14,035

 
—

 
22,639

Trust expenses and income taxes
(5,804
)
 
(7,902
)
 
(4,524
)
 
—

 
(18,230
)
Net trust investment (loss) income
(2,586
)
 
(6,933
)
 
9,773

 
—

 
254

Reclassification to deferred preneed receipts held in trust and care trusts’ corpus
2,586

 
6,933

 
(9,773
)
 
—

 
(254
)
Other income, net
—

 
—

 
—

 
336

 
336

Total other income, net
$
—

 
$
—

 
$
—

 
$
336

 
$
336


 
Nine Months Ended September 30, 2015
 
Funeral
Trusts
 
Cemetery
Trusts
 
Cemetery Perpetual
Care Trusts
 
Other, Net
 
Total
 
 
 
(In thousands)
 
 
Realized gains
$
23,546

 
$
33,859

 
$
2,675

 
$
—

 
$
60,080

Realized losses
(17,554
)
 
(25,375
)
 
(4,478
)
 
—

 
(47,407
)
Impairment charges
(2,880
)
 
(3,811
)
 
(1,613
)
 
—

 
(8,304
)
Interest, dividend, and other ordinary income
17,126

 
16,138

 
40,369

 
—

 
73,633

Trust expenses and income taxes
(15,641
)
 
(23,009
)
 
(27,367
)
 
—

 
(66,017
)
Net trust investment (loss) income
4,597

 
(2,198
)
 
9,586

 
—

 
11,985

Reclassification to deferred preneed receipts held in trust and care trusts’ corpus
(4,597
)
 
2,198

 
(9,586
)
 
—

 
(11,985
)
Other income, net
—

 
—

 
—

 
169

 
169

Total other income, net
$
—

 
$
—

 
$
—

 
$
169

 
$
169