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Preneed Activities Level 3 (Tables)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Preneed receivables net and trust investments [Line Items]    
Investment related activities [Table Text Block]
 
2017
 
2016
 
2015
 
 
 
(In thousands)
 
 
Deposits
$
371,234

 
$
321,232

 
$
313,244

Withdrawals
$
415,283

 
$
350,379

 
$
364,314

Purchases of available-for-sale securities
$
2,057,348

 
$
1,462,900

 
$
1,326,398

Sales of available-for-sale securities
$
1,999,918

 
$
1,393,728

 
$
1,261,777

Realized gains from sales of available-for-sale securities(1)(2)
$
256,413

 
$
100,284

 
$
100,477

Realized losses from sales of available-for-sale securities(1)
$
(76,963
)
 
$
(113,806
)
 
$
(79,203
)
  
Long-term receivable and investment components [Table Text Block]
 
2017
 
2016
 
(In thousands)
Preneed funeral receivables
$
336,925

 
$
312,556

Preneed cemetery receivables
1,118,146

 
1,038,592

Preneed receivables from customers
1,455,071

 
1,351,148

Unearned finance charge
(45,515
)
 
(45,989
)
Allowance for cancellation
(107,749
)
 
(104,740
)
Preneed receivables, net
1,301,807

 
1,200,419

 
 
 
 
Trust investments, at market
4,749,548

 
4,240,963

Assets associated with business held for sale
(5,660
)
 
—

Insurance-backed fixed income securities and other
265,314

 
271,248

Trust investments
5,009,202

 
4,512,211

Less: Cemetery perpetual care trust investments
(1,532,167
)
 
(1,407,465
)
Preneed trust investments
3,477,035

 
3,104,746

 
 
 
 
Preneed receivables, net and trust investments
$
4,778,842

 
$
4,305,165

  
Preneed Funeral Receivables, Net and Trust Investments [Table Text Block]
 
2017
 
2016
 
2015
 
 
 
(In thousands)
 
 
Beginning balance — Preneed receivables, net and trust investments
$
4,305,165

 
$
4,078,464

 
$
4,149,692

Net preneed contract sales
1,257,288

 
1,159,194

 
1,083,424

Cash receipts from customers, net of refunds
(1,109,380
)
 
(1,030,703
)
 
(951,099
)
Deposits to trust
328,241

 
279,782

 
274,361

Acquisitions of businesses, net
8,153

 
1,477

 
5,804

Net undistributed investment earnings (losses)(1)
384,512

 
145,511

 
(80,699
)
Maturities and distributed earnings
(411,452
)
 
(337,912
)
 
(364,367
)
Change in cancellation allowance
(528
)
 
3,329

 
741

Effect of foreign currency and other
16,843

 
6,023

 
(39,393
)
Ending balance — Preneed receivables net, and trust investments
$
4,778,842

 
$
4,305,165

 
$
4,078,464

  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
 
December 31, 2017
 
Fair Value Hierarchy Level
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Value
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 

 
 

 
 

 
 

U.S. Treasury
2
$
48,805

 
$
14

 
$
(117
)
 
$
48,702

Canadian government
2
81,500

 
160

 
(1,089
)
 
80,571

Corporate
2
13,540

 
327

 
(170
)
 
13,697

Residential mortgage-backed
2
3,279

 
16

 
(14
)
 
3,281

Asset-backed
2
320

 
15

 
(10
)
 
325

Equity securities:
 
 
 
 
 
 
 
 

Preferred stock
2
7,834

 
385

 
(139
)
 
8,080

Common stock:
 
 
 
 
 
 
 
 

United States
1
1,161,015

 
266,822

 
(24,739
)
 
1,403,098

Canada
1
30,762

 
12,545

 
(522
)
 
42,785

Other international
1
63,510

 
13,174

 
(2,834
)
 
73,850

Mutual funds:
 
 
 
 
 
 
 
 

Equity
1
613,934

 
59,100

 
(4,312
)
 
668,722

Fixed income
1
1,230,196

 
11,897

 
(23,943
)
 
1,218,150

Other
3
5,953

 
3,114

 
—

 
9,067

Trust investments, at fair value
 
3,260,648

 
367,569

 
(57,889
)
 
3,570,328

Commingled funds
 
 
 
 
 
 
 
 
Fixed income
 
454,242

 
235

 
(5,860
)
 
448,617

Equity
 
214,000

 
12,826

 
—

 
226,826

Money market funds
 
287,435

 
—

 
—

 
287,435

Private equity
 
166,860

 
51,631

 
(2,149
)
 
216,342

Trust investments, at net asset value
 
1,122,537

 
64,692

 
(8,009
)
 
1,179,220

Trust investments, at market
 
$
4,383,185

 
$
432,261

 
$
(65,898
)
 
$
4,749,548
 
 
December 31, 2016
 
Fair Value Hierarchy Level
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Value
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 

 
 

 
 

 
 

U.S. Treasury
2
$
145,315

 
$
884

 
$
(838
)
 
$
145,361

Canadian government
2
79,141

 
409

 
(222
)
 
79,328

Corporate
2
18,934

 
295

 
(227
)
 
19,002

Residential mortgage-backed
2
333

 
1

 
(1
)
 
333

Asset-backed
2
448

 
16

 
(31
)
 
433

Equity securities:
 
 
 
 
 
 
 
 

Preferred stock
2
2,907

 
83

 
(156
)
 
2,834

Common stock:
 
 
 
 
 
 
 
 

United States
1
1,107,942

 
151,146

 
(35,542
)
 
1,223,546

Canada
1
25,708

 
10,030

 
(455
)
 
35,283

Other international
1
83,238

 
4,995

 
(10,632
)
 
77,601

Mutual funds:
 
 
 
 
 
 
 
 

Equity
1
688,120

 
19,962

 
(56,857
)
 
651,225

Fixed income
1
875,615

 
6,203

 
(46,219
)
 
835,599

Other
3
4,712

 
2,468

 
(17
)
 
7,163

Trust investments, at fair value
 
3,032,413

 
196,492

 
(151,197
)
 
3,077,708

Fixed income commingled funds
 
692,434

 
8,524

 
(12,234
)
 
688,724

Money market funds
 
304,055

 
—

 
—

 
304,055

Private equity
 
175,881

 
9,812

 
(15,217
)
 
170,476

Trust investments, at net asset value
 
1,172,370

 
18,336

 
(27,451
)
 
1,163,255

Trust investments, at market
 
$
4,204,783

 
$
214,828

 
$
(178,648
)
 
$
4,240,963
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The change in our market-based trust investments with significant unobservable inputs (Level 3) is as follows for the years ended December 31:
 
 
2017
 
2016
 
2015
 
 
(In thousands)
Fair value, beginning balance at January 1
 
$
7,163

 
$
8,162

 
$
6,650

Net unrealized gains included in Accumulated other comprehensive income(1)
 
912

 
463

 
152

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

 
(212
)
 
—

Purchases
 
1,945

 
89

 
1,360

Sales
 
(953
)
 
(1,339
)
 
—

Fair value, ending balance at December 31
 
$
9,067

 
$
7,163

 
$
8,162


(1)
All unrealized gains recognized in Accumulated other comprehensive income for our trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Accumulated other comprehensive income to Deferred receipts held in trust.
(2)
All losses recognized in Other income (expense), net for our trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Other income (expense) income, net to Deferred receipts held in trust.
 
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
 
 
2017
 
2016
 
2015
 
 
(In thousands)
Fair value, beginning balance at January 1
 
$
7,163

 
$
8,162

 
$
6,650

Net unrealized gains included in Accumulated other comprehensive income(1)
 
912

 
463

 
152

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

 
(212
)
 
—

Purchases
 
1,945

 
89

 
1,360

Sales
 
(953
)
 
(1,339
)
 
—

Fair value, ending balance at December 31
 
$
9,067

 
$
7,163

 
$
8,162

  
Preneed Activities Text Block
3.
Preneed Activities
Preneed receivables, net and trust investments
The components of Preneed receivables, net and trust investments in our Consolidated Balance Sheet at December 31 were as follows:
 
2017
 
2016
 
(In thousands)
Preneed funeral receivables
$
336,925

 
$
312,556

Preneed cemetery receivables
1,118,146

 
1,038,592

Preneed receivables from customers
1,455,071

 
1,351,148

Unearned finance charge
(45,515
)
 
(45,989
)
Allowance for cancellation
(107,749
)
 
(104,740
)
Preneed receivables, net
1,301,807

 
1,200,419

 
 
 
 
Trust investments, at market
4,749,548

 
4,240,963

Assets associated with business held for sale
(5,660
)
 
—

Insurance-backed fixed income securities and other
265,314

 
271,248

Trust investments
5,009,202

 
4,512,211

Less: Cemetery perpetual care trust investments
(1,532,167
)
 
(1,407,465
)
Preneed trust investments
3,477,035

 
3,104,746

 
 
 
 
Preneed receivables, net and trust investments
$
4,778,842

 
$
4,305,165


The table below sets forth certain investment-related activities associated with trusts for the years ended December 31:
 
2017
 
2016
 
2015
 
 
 
(In thousands)
 
 
Deposits
$
371,234

 
$
321,232

 
$
313,244

Withdrawals
$
415,283

 
$
350,379

 
$
364,314

Purchases of available-for-sale securities
$
2,057,348

 
$
1,462,900

 
$
1,326,398

Sales of available-for-sale securities
$
1,999,918

 
$
1,393,728

 
$
1,261,777

Realized gains from sales of available-for-sale securities(1)(2)
$
256,413

 
$
100,284

 
$
100,477

Realized losses from sales of available-for-sale securities(1)
$
(76,963
)
 
$
(113,806
)
 
$
(79,203
)

(1)
All realized gains and losses are recognized in Other income (expense), net for our trust investments and are offset by a corresponding reclassification in Other income (expense), net to Deferred receipts held in trust and Care trusts’ corpus
(2)
Given the positive performance of the financial markets in 2017 and a significant realignment of certain portions of our trust portfolio, we experienced a substantial increase in our realized gains during the year.


The activity in Preneed receivables, net and trust investments for the years ended December 31 was as follows:
 
2017
 
2016
 
2015
 
 
 
(In thousands)
 
 
Beginning balance — Preneed receivables, net and trust investments
$
4,305,165

 
$
4,078,464

 
$
4,149,692

Net preneed contract sales
1,257,288

 
1,159,194

 
1,083,424

Cash receipts from customers, net of refunds
(1,109,380
)
 
(1,030,703
)
 
(951,099
)
Deposits to trust
328,241

 
279,782

 
274,361

Acquisitions of businesses, net
8,153

 
1,477

 
5,804

Net undistributed investment earnings (losses)(1)
384,512

 
145,511

 
(80,699
)
Maturities and distributed earnings
(411,452
)
 
(337,912
)
 
(364,367
)
Change in cancellation allowance
(528
)
 
3,329

 
741

Effect of foreign currency and other
16,843

 
6,023

 
(39,393
)
Ending balance — Preneed receivables net, and trust investments
$
4,778,842

 
$
4,305,165

 
$
4,078,464


(1)
Includes both realized and unrealized investment earnings.
The cost and market values associated with trust investments recorded at market value at December 31, 2017 and 2016 are detailed below. Cost reflects the investment (net of redemptions) of control holders in the trusts. Market value represents the value of the underlying securities held by the trusts.
 
 
December 31, 2017
 
Fair Value Hierarchy Level
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Value
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 

 
 

 
 

 
 

U.S. Treasury
2
$
48,805

 
$
14

 
$
(117
)
 
$
48,702

Canadian government
2
81,500

 
160

 
(1,089
)
 
80,571

Corporate
2
13,540

 
327

 
(170
)
 
13,697

Residential mortgage-backed
2
3,279

 
16

 
(14
)
 
3,281

Asset-backed
2
320

 
15

 
(10
)
 
325

Equity securities:
 
 
 
 
 
 
 
 

Preferred stock
2
7,834

 
385

 
(139
)
 
8,080

Common stock:
 
 
 
 
 
 
 
 

United States
1
1,161,015

 
266,822

 
(24,739
)
 
1,403,098

Canada
1
30,762

 
12,545

 
(522
)
 
42,785

Other international
1
63,510

 
13,174

 
(2,834
)
 
73,850

Mutual funds:
 
 
 
 
 
 
 
 

Equity
1
613,934

 
59,100

 
(4,312
)
 
668,722

Fixed income
1
1,230,196

 
11,897

 
(23,943
)
 
1,218,150

Other
3
5,953

 
3,114

 
—

 
9,067

Trust investments, at fair value
 
3,260,648

 
367,569

 
(57,889
)
 
3,570,328

Commingled funds
 
 
 
 
 
 
 
 
Fixed income
 
454,242

 
235

 
(5,860
)
 
448,617

Equity
 
214,000

 
12,826

 
—

 
226,826

Money market funds
 
287,435

 
—

 
—

 
287,435

Private equity
 
166,860

 
51,631

 
(2,149
)
 
216,342

Trust investments, at net asset value
 
1,122,537

 
64,692

 
(8,009
)
 
1,179,220

Trust investments, at market
 
$
4,383,185

 
$
432,261

 
$
(65,898
)
 
$
4,749,548


 
 
December 31, 2016
 
Fair Value Hierarchy Level
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Value
 
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 

 
 

 
 

 
 

U.S. Treasury
2
$
145,315

 
$
884

 
$
(838
)
 
$
145,361

Canadian government
2
79,141

 
409

 
(222
)
 
79,328

Corporate
2
18,934

 
295

 
(227
)
 
19,002

Residential mortgage-backed
2
333

 
1

 
(1
)
 
333

Asset-backed
2
448

 
16

 
(31
)
 
433

Equity securities:
 
 
 
 
 
 
 
 

Preferred stock
2
2,907

 
83

 
(156
)
 
2,834

Common stock:
 
 
 
 
 
 
 
 

United States
1
1,107,942

 
151,146

 
(35,542
)
 
1,223,546

Canada
1
25,708

 
10,030

 
(455
)
 
35,283

Other international
1
83,238

 
4,995

 
(10,632
)
 
77,601

Mutual funds:
 
 
 
 
 
 
 
 

Equity
1
688,120

 
19,962

 
(56,857
)
 
651,225

Fixed income
1
875,615

 
6,203

 
(46,219
)
 
835,599

Other
3
4,712

 
2,468

 
(17
)
 
7,163

Trust investments, at fair value
 
3,032,413

 
196,492

 
(151,197
)
 
3,077,708

Fixed income commingled funds
 
692,434

 
8,524

 
(12,234
)
 
688,724

Money market funds
 
304,055

 
—

 
—

 
304,055

Private equity
 
175,881

 
9,812

 
(15,217
)
 
170,476

Trust investments, at net asset value
 
1,172,370

 
18,336

 
(27,451
)
 
1,163,255

Trust investments, at market
 
$
4,204,783

 
$
214,828

 
$
(178,648
)
 
$
4,240,963


As of December 31, 2017, our unfunded commitment for our private equity and other investments was $129.4 million which, if called, would be funded by the assets of the trusts.
The change in our market-based trust investments with significant unobservable inputs (Level 3) is as follows for the years ended December 31:
 
 
2017
 
2016
 
2015
 
 
(In thousands)
Fair value, beginning balance at January 1
 
$
7,163

 
$
8,162

 
$
6,650

Net unrealized gains included in Accumulated other comprehensive income(1)
 
912

 
463

 
152

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

 
(212
)
 
—

Purchases
 
1,945

 
89

 
1,360

Sales
 
(953
)
 
(1,339
)
 
—

Fair value, ending balance at December 31
 
$
9,067

 
$
7,163

 
$
8,162


(1)
All unrealized gains recognized in Accumulated other comprehensive income for our trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Accumulated other comprehensive income to Deferred receipts held in trust.
(2)
All losses recognized in Other income (expense), net for our trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Other income (expense) income, net to Deferred receipts held in trust.
Maturity dates of our fixed income securities range from 2017 to 2040. Maturities of fixed income securities at December 31, 2017 are estimated as follows:
 
Fair Value
 
(In thousands)
Due in one year or less
$
75,831

Due in one to five years
61,283

Due in five to ten years
9,101

Thereafter
361

Total estimated maturities of fixed income securities
$
146,576


Recognized trust fund income (realized and unrealized) related to our preneed trust investments was $112.6 million, $94.4 million, and $98.4 million for the years ended December 31, 2017, 2016, and 2015, respectively. Recognized trust fund income (realized and unrealized) related to our cemetery perpetual care trust investments was $62.9 million, $67.6 million, and $59.6 million for the years ended December 31, 2017, 2016, and 2015, respectively.
We have determined that the unrealized losses in our trust investments are considered temporary in nature, as the unrealized losses were due to temporary fluctuations in interest rates and equity prices. The investments are diversified across multiple industry segments using a balanced allocation strategy to minimize long-term risk. We believe that none of the securities are other-than-temporarily impaired based on our analysis of the investments. Our analysis included a review of the portfolio holdings and discussions with the individual money managers as to the sector exposures, credit ratings, and the severity and duration of the unrealized losses. Our trust investment unrealized losses, their associated fair values, and the duration of unrealized losses for the years ended December 31, 2017 and 2016, are shown in the following tables:
 
December 31, 2017
 
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
$
29,014

 
$
(115
)
 
$
106

 
$
(2
)
 
$
29,120

 
$
(117
)
Canadian government
20,947

 
(639
)
 
6,370

 
(450
)
 
27,317

 
(1,089
)
Corporate
2,423

 
(31
)
 
4,453

 
(139
)
 
6,876

 
(170
)
Residential mortgage-backed
2,880

 
(12
)
 
151

 
(2
)
 
3,031

 
(14
)
Asset-backed
—

 
—

 
74

 
(10
)
 
74

 
(10
)
Equity securities:
 
 
 
 
 
 
 
 


 


Preferred stock
1,106

 
(92
)
 
248

 
(47
)
 
1,354

 
(139
)
Common stock:
 
 
 
 
 
 
 
 


 


United States
184,973

 
(20,561
)
 
18,542

 
(4,178
)
 
203,515

 
(24,739
)
Canada
1,307

 
(224
)
 
1,314

 
(298
)
 
2,621

 
(522
)
Other international
19,070

 
(2,499
)
 
2,327

 
(335
)
 
21,397

 
(2,834
)
Mutual funds:
 
 
 
 
 
 
 
 


 


Equity
32,348

 
(1,193
)
 
21,140

 
(3,119
)
 
53,488

 
(4,312
)
Fixed income
225,766

 
(1,402
)
 
294,980

 
(22,541
)
 
520,746

 
(23,943
)
Trust investments, at fair value
519,834

 
(26,768
)
 
349,705

 
(31,121
)
 
869,539

 
(57,889
)
Commingled funds
 
 
 
 
 
 
 
 
 
 
 
Fixed income
215,295

 
(988
)
 
181,358

 
(4,872
)
 
396,653

 
(5,860
)
Private equity
—

 
—

 
11,752

 
(2,149
)
 
11,752

 
(2,149
)
Trust investments, at net asset value
215,295

 
(988
)
 
193,110

 
(7,021
)
 
408,405

 
(8,009
)
Total temporarily impaired securities
$
735,129

 
$
(27,756
)
 
$
542,815

 
$
(38,142
)
 
$
1,277,944

 
$
(65,898
)

 
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:
 

 
 

 
 

 
 

 
 

 
 

U.S. Treasury
$
41,409

 
$
(838
)
 
$
—

 
$
—

 
$
41,409

 
$
(838
)
Canadian government
2,913

 
(31
)
 
3,344

 
(191
)
 
6,257

 
(222
)
Corporate
2,107

 
(22
)
 
6,162

 
(205
)
 
8,269

 
(227
)
Residential mortgage-backed
303

 
(1
)
 
—

 
—

 
303

 
(1
)
Asset backed
28

 
(22
)
 
156

 
(9
)
 
184

 
(31
)
Equity securities:
 
 
 
 
 
 
 
 
 

 
 

Preferred stock
971

 
(53
)
 
515

 
(103
)
 
1,486

 
(156
)
Common stock:
 
 
 
 
 
 
 
 
 

 
 

United States
271,433

 
(23,168
)
 
50,923

 
(12,374
)
 
322,356

 
(35,542
)
Canada
3,318

 
(383
)
 
1,078

 
(72
)
 
4,396

 
(455
)
Other international
19,274

 
(4,139
)
 
24,525

 
(6,493
)
 
43,799

 
(10,632
)
Mutual funds:
 
 
 
 
 
 
 
 
 

 
 

Equity
234,714

 
(9,825
)
 
276,504

 
(47,032
)
 
511,218

 
(56,857
)
Fixed income
323,917

 
(5,941
)
 
425,614

 
(40,278
)
 
749,531

 
(46,219
)
Other
26

 
(2
)
 
1,160

 
(15
)
 
1,186

 
(17
)
Trust investments, at fair value
900,413

 
(44,425
)
 
789,981

 
(106,772
)
 
1,690,394

 
(151,197
)
Fixed income commingled funds
473,550

 
(11,714
)
 
20,587

 
(520
)
 
494,137

 
(12,234
)
Private equity
22,677

 
(750
)
 
73,100

 
(14,467
)
 
95,777

 
(15,217
)
Trust investments, at net asset value
496,227

 
(12,464
)
 
93,687

 
(14,987
)
 
589,914

 
(27,451
)
Total temporarily impaired securities
$
1,396,640

 
$
(56,889
)
 
$
883,668

 
$
(121,759
)
 
$
2,280,308

 
$
(178,648
)

Deferred revenue
At December 31, 2017 and 2016, Deferred revenue, net of allowance for cancellation, represents future revenue, including distributed trust investment earnings associated with unperformed trust-funded preneed contracts that are not held in trust accounts. Future revenue and net trust investment earnings that are held in trust accounts are included in Deferred receipts held in trust.
The following table summarizes the activity in Deferred revenue for the years ended December 31:
 
2017
 
2016
 
2015
 
(In thousands)
Beginning balance — Deferred revenue
$
1,731,417

 
$
1,677,898

 
$
1,602,545

Net preneed contract sales
900,037

 
847,848

 
794,527

Acquisitions (divestitures) of businesses, net
10,488

 
193

 
(538
)
Net investment earnings (losses)(1)
381,436

 
146,103

 
(80,014
)
Recognized deferred revenue
(876,857
)
 
(823,319
)
 
(780,423
)
Change in cancellation allowance
(165
)
 
5,396

 
3,627

Change in deferred receipts held in trust
(361,499
)
 
(124,923
)
 
142,401

Effect of foreign currency and other
4,919

 
2,221

 
(4,227
)
Ending balance — Deferred revenue
$
1,789,776

 
$
1,731,417

 
$
1,677,898

(1)
Includes both realized and unrealized investment earnings.
  
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, 2017 are estimated as follows:
 
Fair Value
 
(In thousands)
Due in one year or less
$
75,831

Due in one to five years
61,283

Due in five to ten years
9,101

Thereafter
361

Total estimated maturities of fixed income securities
$
146,576

  
Schedule of Unrealized Loss on Investments [Table Text Block]
 
December 31, 2017
 
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
$
29,014

 
$
(115
)
 
$
106

 
$
(2
)
 
$
29,120

 
$
(117
)
Canadian government
20,947

 
(639
)
 
6,370

 
(450
)
 
27,317

 
(1,089
)
Corporate
2,423

 
(31
)
 
4,453

 
(139
)
 
6,876

 
(170
)
Residential mortgage-backed
2,880

 
(12
)
 
151

 
(2
)
 
3,031

 
(14
)
Asset-backed
—

 
—

 
74

 
(10
)
 
74

 
(10
)
Equity securities:
 
 
 
 
 
 
 
 


 


Preferred stock
1,106

 
(92
)
 
248

 
(47
)
 
1,354

 
(139
)
Common stock:
 
 
 
 
 
 
 
 


 


United States
184,973

 
(20,561
)
 
18,542

 
(4,178
)
 
203,515

 
(24,739
)
Canada
1,307

 
(224
)
 
1,314

 
(298
)
 
2,621

 
(522
)
Other international
19,070

 
(2,499
)
 
2,327

 
(335
)
 
21,397

 
(2,834
)
Mutual funds:
 
 
 
 
 
 
 
 


 


Equity
32,348

 
(1,193
)
 
21,140

 
(3,119
)
 
53,488

 
(4,312
)
Fixed income
225,766

 
(1,402
)
 
294,980

 
(22,541
)
 
520,746

 
(23,943
)
Trust investments, at fair value
519,834

 
(26,768
)
 
349,705

 
(31,121
)
 
869,539

 
(57,889
)
Commingled funds
 
 
 
 
 
 
 
 
 
 
 
Fixed income
215,295

 
(988
)
 
181,358

 
(4,872
)
 
396,653

 
(5,860
)
Private equity
—

 
—

 
11,752

 
(2,149
)
 
11,752

 
(2,149
)
Trust investments, at net asset value
215,295

 
(988
)
 
193,110

 
(7,021
)
 
408,405

 
(8,009
)
Total temporarily impaired securities
$
735,129

 
$
(27,756
)
 
$
542,815

 
$
(38,142
)
 
$
1,277,944

 
$
(65,898
)
Our trust investment unrealized losses, their associated fair values, and the duration of unrealized losses for the years ended December 31, 2017 and 2016, are shown in the following tables:
 
December 31, 2017
 
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
$
29,014

 
$
(115
)
 
$
106

 
$
(2
)
 
$
29,120

 
$
(117
)
Canadian government
20,947

 
(639
)
 
6,370

 
(450
)
 
27,317

 
(1,089
)
Corporate
2,423

 
(31
)
 
4,453

 
(139
)
 
6,876

 
(170
)
Residential mortgage-backed
2,880

 
(12
)
 
151

 
(2
)
 
3,031

 
(14
)
Asset-backed
—

 
—

 
74

 
(10
)
 
74

 
(10
)
Equity securities:
 
 
 
 
 
 
 
 


 


Preferred stock
1,106

 
(92
)
 
248

 
(47
)
 
1,354

 
(139
)
Common stock:
 
 
 
 
 
 
 
 


 


United States
184,973

 
(20,561
)
 
18,542

 
(4,178
)
 
203,515

 
(24,739
)
Canada
1,307

 
(224
)
 
1,314

 
(298
)
 
2,621

 
(522
)
Other international
19,070

 
(2,499
)
 
2,327

 
(335
)
 
21,397

 
(2,834
)
Mutual funds:
 
 
 
 
 
 
 
 


 


Equity
32,348

 
(1,193
)
 
21,140

 
(3,119
)
 
53,488

 
(4,312
)
Fixed income
225,766

 
(1,402
)
 
294,980

 
(22,541
)
 
520,746

 
(23,943
)
Trust investments, at fair value
519,834

 
(26,768
)
 
349,705

 
(31,121
)
 
869,539

 
(57,889
)
Commingled funds
 
 
 
 
 
 
 
 
 
 
 
Fixed income
215,295

 
(988
)
 
181,358

 
(4,872
)
 
396,653

 
(5,860
)
Private equity
—

 
—

 
11,752

 
(2,149
)
 
11,752

 
(2,149
)
Trust investments, at net asset value
215,295

 
(988
)
 
193,110

 
(7,021
)
 
408,405

 
(8,009
)
Total temporarily impaired securities
$
735,129

 
$
(27,756
)
 
$
542,815

 
$
(38,142
)
 
$
1,277,944

 
$
(65,898
)

 
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:
 

 
 

 
 

 
 

 
 

 
 

U.S. Treasury
$
41,409

 
$
(838
)
 
$
—

 
$
—

 
$
41,409

 
$
(838
)
Canadian government
2,913

 
(31
)
 
3,344

 
(191
)
 
6,257

 
(222
)
Corporate
2,107

 
(22
)
 
6,162

 
(205
)
 
8,269

 
(227
)
Residential mortgage-backed
303

 
(1
)
 
—

 
—

 
303

 
(1
)
Asset backed
28

 
(22
)
 
156

 
(9
)
 
184

 
(31
)
Equity securities:
 
 
 
 
 
 
 
 
 

 
 

Preferred stock
971

 
(53
)
 
515

 
(103
)
 
1,486

 
(156
)
Common stock:
 
 
 
 
 
 
 
 
 

 
 

United States
271,433

 
(23,168
)
 
50,923

 
(12,374
)
 
322,356

 
(35,542
)
Canada
3,318

 
(383
)
 
1,078

 
(72
)
 
4,396

 
(455
)
Other international
19,274

 
(4,139
)
 
24,525

 
(6,493
)
 
43,799

 
(10,632
)
Mutual funds:
 
 
 
 
 
 
 
 
 

 
 

Equity
234,714

 
(9,825
)
 
276,504

 
(47,032
)
 
511,218

 
(56,857
)
Fixed income
323,917

 
(5,941
)
 
425,614

 
(40,278
)
 
749,531

 
(46,219
)
Other
26

 
(2
)
 
1,160

 
(15
)
 
1,186

 
(17
)
Trust investments, at fair value
900,413

 
(44,425
)
 
789,981

 
(106,772
)
 
1,690,394

 
(151,197
)
Fixed income commingled funds
473,550

 
(11,714
)
 
20,587

 
(520
)
 
494,137

 
(12,234
)
Private equity
22,677

 
(750
)
 
73,100

 
(14,467
)
 
95,777

 
(15,217
)
Trust investments, at net asset value
496,227

 
(12,464
)
 
93,687

 
(14,987
)
 
589,914

 
(27,451
)
Total temporarily impaired securities
$
1,396,640

 
$
(56,889
)
 
$
883,668

 
$
(121,759
)
 
$
2,280,308

 
$
(178,648
)
Deferred Preneed Funeral Revenues [Table Text Block]
The following table summarizes the activity in Deferred revenue for the years ended December 31:
 
2017
 
2016
 
2015
 
(In thousands)
Beginning balance — Deferred revenue
$
1,731,417

 
$
1,677,898

 
$
1,602,545

Net preneed contract sales
900,037

 
847,848

 
794,527

Acquisitions (divestitures) of businesses, net
10,488

 
193

 
(538
)
Net investment earnings (losses)(1)
381,436

 
146,103

 
(80,014
)
Recognized deferred revenue
(876,857
)
 
(823,319
)
 
(780,423
)
Change in cancellation allowance
(165
)
 
5,396

 
3,627

Change in deferred receipts held in trust
(361,499
)
 
(124,923
)
 
142,401

Effect of foreign currency and other
4,919

 
2,221

 
(4,227
)
Ending balance — Deferred revenue
$
1,789,776

 
$
1,731,417

 
$
1,677,898

(1)
Includes both realized and unrealized investment earnings.