Acquisition Level 1 (Notes)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Acquisitions

In June 2018, we acquired fifteen funeral homes and seven cemeteries in four states (the “acquired businesses”) for $82.2 million in cash. Additionally, we paid $49.8 million of the acquired businesses' existing debt in conjunction with the closing of the acquisition.

Included in our results of operations for the twelve months ended December 31, 2018 is revenue of $17.9 million and net income of $1.7 million for the period from the acquisition date (June 8, 2018) through December 31, 2018. The following unaudited pro forma summary presents financial information as if the acquisition had occurred on January 1, 2018:

	2018
	(In thousands)
	(unaudited)
Revenue	$	32,434
Net income	$	4,669

Excluding the June 2018 acquisition described above, we spent $116.2 million, $107.0 million, and $62.8 million for real estate, funeral service locations, and cemeteries for the three years ended December 31, 2020, 2019, and 2018, respectively. These amounts include the use of $55.1 million, $13.6 million, and $5.9 million in 1031 exchange funds for the three years ended December 31, 2020, 2019, and 2018, respectively.

Divestiture-Related Activities

As divestitures occur in the normal course of business, gains or losses on the sale of such locations are recognized in the Condensed Consolidated Statement of Operations line item Gains on divestitures and impairment charges, net, which consist of the following:

	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Gains on divestitures, net	$	11,962	$	41,835	$	20,340
Impairment losses	(4,953)		(8,916)		(4,407)
Gains on divestitures and impairment charges, net	$	7,009	$	32,919	$	15,933