XML 22 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Cash Flows [Abstract]    
Net income $ 131,274 $ 144,829
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss on early extinguishment of debt 0 1,060
Depreciation and amortization 50,219 46,114
Amortization of intangibles 4,321 4,731
Amortization of cemetery property 21,713 20,338
Amortization of loan costs 1,752 1,697
Provision for expected credit losses 4,185 1,906
Provision for (benefit from) deferred income taxes 2,412 (492)
Share-based compensation 3,926 4,478
Gain (Loss) on Disposition of Assets 684 (691)
Change in assets and liabilities, net of effects from acquisitions and divestitures:    
Increase (Decrease) in Accounts Receivable 6,043 8,329
Increase (Decrease) in Other Operating Assets 5,167 (17,421)
Increase (Decrease) in Operating Liabilities 10,446 (1,977)
Effect of preneed funeral production and maturities:    
Increase in preneed receivables, net and trust investments (61,527) (39,923)
Increase in deferred revenue, net 34,170 41,030
Increase in deferred receipts held in trust 26,230 1,610
Net cash provided by operating activities 220,123 219,572
Cash flows from investing activities:    
Capital expenditures (79,787) (77,903)
Payments to Acquire Businesses, Net of Cash Acquired (15,839) (8,700)
Payments for (Proceeds from) Deposits on Real Estate Acquisitions (6,948) (16,666)
Proceeds from divestitures and sales of property and equipment 8,508 9,741
Payment to Acquire Life Insurance Policy, Investing Activities (2,739) (1,366)
Net cash used in investing activities (96,805) (94,894)
Cash flows from financing activities    
Payments of Debt Issuance Costs 0 7,471
Proceeds from issuance of long-term debt 115,000 408,383
Early payments and extinguishment of debt (150,000) (345,073)
Finance Lease, Principal Payments 9,019 8,537
Repayments of Unsecured Debt (5,828) (5,287)
Proceeds from exercise of stock options 17,237 8,763
Purchase of Company common stock (49,461) (165,950)
Payments of dividends (43,944) (41,207)
Bank overdrafts and other (7,973) (6,729)
Net cash (used in) provided by financing activities (133,988) (163,108)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations (1,826) 20
Net decrease in cash, cash equivalents, and restricted cash (12,496) (38,410)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 212,265 $ 166,114