XML 45 R33.htm IDEA: XBRL DOCUMENT v3.6.0.2
Cemetery Perpetual Care Trusts Level 3 (Tables) - Cemetery Perpetual Care [Member]
 12 Months Ended
Dec. 31, 2016
Cemetery Perpetual Care Trust Investments [Line Items]  
Investment related activities [Table Text Block]
The table below sets forth certain investment-related activities associated with our cemetery perpetual care trusts for the years ended December 31:
 
2016
 
2015
 
2014
 
(In thousands)
Deposits
$
41,450

 
$
38,883

 
$
42,220

Withdrawals
$
48,522

 
$
40,447

 
$
46,981

Purchases of available-for-sale securities(1)
$
428,635

 
$
247,658

 
$
1,306,314

Sales of available-for-sale securities(1)
$
374,329

 
$
175,057

 
$
1,396,669
Long-term receivable and investment components [Table Text Block]
The components of Cemetery perpetual care trust investments in our Consolidated Balance Sheet at December 31 were as follows:
 
2016
 
2015
 
(In thousands)
Trust investments, at market
$
1,349,073

 
$
1,232,592

Cash and cash equivalents
58,392

 
86,835

Cemetery perpetual care trust investments
$
1,407,465

 
$
1,319,427
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
The cost and market values associated with our cemetery perpetual care trust investments recorded at fair value at December 31, 2016 and 2015 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 or cash held by the trusts.
 
 
December 31, 2016
 
Fair Value Hierarchy Level
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 

 
 

 
 

 
 

Canadian government
2
$
14,280

 
$
88

 
$
(114
)
 
$
14,254

Corporate
2
4,636

 
100

 
(101
)
 
4,635

Residential mortgage-backed
2
304

 
—

 
(1
)
 
303

Asset-backed
2
220

 
3

 
(28
)
 
195

Equity securities:
 
 

 
 

 
 

 
 

Preferred stock
2
1,479

 
2

 
(117
)
 
1,364

Common stock:
 
 

 
 

 
 

 
 

United States
1
233,643

 
28,679

 
(2,337
)
 
259,985

Canada
1
4,828

 
2,631

 
(108
)
 
7,351

Other international
1
14,607

 
148

 
(2,236
)
 
12,519

Mutual funds:
 
 

 
 

 
 

 
 

Equity
1
18,909

 
4,370

 
(412
)
 
22,867

Fixed income
1
688,472

 
3,324

 
(28,997
)
 
662,799

Other
3
633

 
1,254

 
—

 
1,887

Trust investments, at fair value
 
982,011

 
40,599

 
(34,451
)
 
988,159

Fixed income commingled funds
 
277,662

 
—

 
(9,386
)
 
268,276

Private equity

97,108

 
2,240

 
(6,710
)
 
92,638

Trust investments, at net asset value
 
374,770

 
2,240

 
(16,096
)
 
360,914

Trust investments, at market
 
$
1,356,781

 
$
42,839

 
$
(50,547
)
 
$
1,349,073

 
 
December 31, 2015
 
Fair Value Hierarchy Level
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 

 
 

 
 

 
 

U.S. Treasury
2
$
650

 
$
20

 
$
(7
)
 
$
663

Canadian government
2
15,412

 
321

 
(162
)
 
15,571

Corporate
2
12,490

 
149

 
(284
)
 
12,355

Residential mortgage-backed
2
934

 
13

 
(9
)
 
938

Asset-backed
2
660

 
5

 
(31
)
 
634

Equity securities:
 
 

 
 

 
 

 
 

Preferred stock
2
5,850

 
55

 
(159
)
 
5,746

Common stock:
 
 

 
 

 
 

 
 

United States
1
230,854

 
15,224

 
(10,898
)
 
235,180

Canada
1
5,460

 
2,112

 
(606
)
 
6,966

Other international
1
14,793

 
160

 
(2,390
)
 
12,563

Mutual funds:
 
 

 
 

 
 

 
 

Equity
1
21,783

 
3,138

 
(1,850
)
 
23,071

Fixed income
1
890,025

 
530

 
(63,913
)
 
826,642

Other
3
645

 
1,257

 
—

 
1,902

Trust investments, at fair value
 
1,199,556

 
22,984

 
(80,309
)
 
1,142,231

Fixed income commingled funds
 
20,616

 
—

 
(178
)
 
20,438

Private equity

75,613

 
2,406

 
(8,096
)
 
69,923

Trust investments, at net asset value
 
96,229

 
2,406

 
(8,274
)
 
90,361

Trust investments, at market
 
$
1,295,785

 
$
25,390

 
$
(88,583
)
 
$
1,232,592
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The change in our market-based cemetery perpetual care trust investments with significant unobservable inputs (Level 3) is as follows for the years ended December 31 :
 
 
2016
 
2015
 
2014
 
 
(In thousands)
Fair value, beginning balance at January 1
 
$
1,902

 
$
1,556

 
$
1,599

Net unrealized (losses) gains included in Accumulated other comprehensive income(1)
 
(15
)
 
346

 
(26
)
Sales
 
—

 
—

 
(17
)
Fair value, ending balance at December 31
 
$
1,887

 
$
1,902

 
$
1,556

(1)
All unrealized (losses) gains recognized in Accumulated other comprehensive income for our cemetery perpetual care trust investments are offset by a corresponding reclassification in Accumulated other comprehensive income to Care trusts’ corpus. See Note 6 for further information related to our Care trusts’ corpus.
Investments Classified by Contractual Maturity Date [Table Text Block]
Maturity dates of our fixed income securities range from 2017 to 2040. Maturities of fixed income securities at December 31, 2016 are estimated as follows:
 
Fair Value
 
(In thousands)
Due in one year or less
$
1,834

Due in one to five years
17,283

Due in five to ten years
69

Thereafter
201

 
$
19,387
Schedule of Unrealized Loss on Investments [Table Text Block]
Our cemetery perpetual care trust investment unrealized losses, their associated fair values, and the duration of unrealized losses for the years ended December 31, 2016 and 2015, are shown in the following table:
 
December 31, 2016
 
In Loss Position
Less Than 12 Months
 
In Loss Position
Greater Than 12 Months
 
Total
 
Fair
Market
Value
 
Unrealized
Losses
 
Fair
Market
Value
 
Unrealized
Losses
 
Fair
Market
Value
 
Unrealized
Losses
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 

 
 

 
 

 
 

 
 

 
 

Canadian government
$
66

 
$
(1
)
 
$
1,961

 
$
(113
)
 
$
2,027

 
$
(114
)
Corporate
397

 
(7
)
 
1,866

 
(94
)
 
2,263

 
(101
)
Residential mortgage-backed
303

 
(1
)
 
—

 
—

 
303

 
(1
)
Asset-backed
28

 
(22
)
 
101

 
(6
)
 
129

 
(28
)
Equity securities:
 

 
 

 
 

 
 

 
 

 
 

Preferred stock
846

 
(36
)
 
417

 
(81
)
 
1,263

 
(117
)
Common stock:
 

 
 

 
 

 
 

 
 

 
 

United States
34,844

 
(1,339
)
 
12,974

 
(998
)
 
47,818

 
(2,337
)
Canada
78

 
(47
)
 
558

 
(61
)
 
636

 
(108
)
Other international
4,177

 
(508
)
 
5,715

 
(1,728
)
 
9,892

 
(2,236
)
Mutual funds:
 

 
 

 
 

 
 

 
 

 
 

Equity
877

 
(17
)
 
2,899

 
(395
)
 
3,776

 
(412
)
Fixed income
263,231

 
(4,678
)
 
348,623

 
(24,319
)
 
611,854

 
(28,997
)
Trust investments, at fair value
304,847

 
(6,656
)
 
375,114

 
(27,795
)
 
679,961

 
(34,451
)
Fixed income commingled funds
265,345

 
(9,346
)
 
2,931

 
(40
)
 
268,276

 
(9,386
)
Private equity
21,426

 
(268
)
 
33,519

 
(6,442
)
 
54,945

 
(6,710
)
Trust investments, at net asset value
286,771

 
(9,614
)
 
36,450

 
(6,482
)
 
323,221

 
(16,096
)
Total temporarily impaired securities
$
591,618


$
(16,270
)
 
$
411,564

 
$
(34,277
)
 
$
1,003,182

 
$
(50,547
)
 
December 31, 2015
 
In Loss Position
Less Than 12 Months
 
In Loss Position
Greater Than 12 Months
 
Total
 
Fair
Market
Value
 
Unrealized
Losses
 
Fair
Market
Value
 
Unrealized
Losses
 
Fair
Market
Value
 
Unrealized
Losses
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 

 
 

 
 

 
 

 
 

 
 

U.S. Treasury
$
364

 
$
(6
)
 
$
35

 
$
(1
)
 
$
399

 
$
(7
)
Canadian government
1,569

 
(60
)
 
1,371

 
(102
)
 
2,940

 
(162
)
Corporate
4,693


(134
)

4,147


(150
)

8,840


(284
)
Residential mortgage-backed
303

 
(3
)
 
117

 
(6
)
 
420

 
(9
)
Asset-backed
146

 
(12
)
 
360

 
(19
)
 
506

 
(31
)
Equity securities:
 

 
 

 
 

 
 

 
 
 
 
Preferred stock
4,029

 
(159
)
 
—

 
—

 
4,029

 
(159
)
Common stock:
 

 
 

 
 

 
 

 
 
 
 
United States
81,564

 
(7,793
)
 
14,900

 
(3,105
)
 
96,464

 
(10,898
)
Canada
622

 
(31
)
 
1,026

 
(575
)
 
1,648

 
(606
)
Other international
8,735

 
(941
)
 
2,347

 
(1,449
)
 
11,082

 
(2,390
)
Mutual funds:
 

 
 

 
 

 
 

 
 
 
 
Equity
4,580

 
(606
)
 
1,258

 
(1,244
)
 
5,838

 
(1,850
)
Fixed income
519,993

 
(18,205
)
 
294,309

 
(45,708
)
 
814,302

 
(63,913
)
Trust investments, at fair value
626,598

 
(27,950
)
 
319,870

 
(52,359
)
 
946,468

 
(80,309
)
Fixed income commingled funds
20,438

 
(178
)
 
—

 
—

 
20,438

 
(178
)
Private equity
13,139

 
(75
)
 
30,438

 
(8,021
)
 
43,577

 
(8,096
)
Trust investments, at net asset value
33,577

 
(253
)
 
30,438

 
(8,021
)
 
64,015

 
(8,274
)
Total temporarily impaired securities
$
660,175

 
$
(28,203
)
 
$
350,308

 
$
(60,380
)
 
$
1,010,483

 
$
(88,583
)