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Preneed Trust Investments (Tables)
 9 Months Ended
Sep. 30, 2017
Preneed Trust Investments [Abstract]  
Components of preneed cemetery trust investments
The components of Preneed cemetery trust investments on our Consolidated Balance Sheets at December 31, 2016 and September 30, 2017 were as follows (in thousands):
 
December 31, 2016
 
September 30, 2017
Preneed cemetery trust investments, at market value
$
71,834

 
$
73,889

Less: allowance for contract cancellation
(2,138
)
 
(2,161
)
Preneed cemetery trust investments, net
$
69,696

 
$
71,728
Cost and fair market values associated with preneed cemetery trust investments
The cost and fair market values associated with preneed cemetery trust investments at September 30, 2017 are detailed below (in thousands):
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
Cash and money market accounts
1
 
$
4,698

 
$
—

 
$
—

 
$
4,698

Fixed income securities:
 
 
 
 
 
 
 
 
 
Foreign debt
2
 
4,834

 
275

 
(168
)
 
4,941

Corporate debt
2
 
19,335

 
1,145

 
(553
)
 
19,927

Preferred stock
2
 
16,329

 
383

 
(524
)
 
16,188

Mortgage-backed securities
2
 
1,089

 
240

 
(23
)
 
1,306

Common stock
1
 
24,574

 
3,376

 
(3,119
)
 
24,831

Mutual funds:
 
 
 
 
 
 
 
 
 
Fixed Income
2
 
1,200

 
81

 
—

 
1,281

Trust securities
 
 
$
72,059

 
$
5,501

 
$
(4,387
)
 
$
73,173

Accrued investment income
 
 
$
716

 
 
 
 
 
$
716

Preneed cemetery trust investments
 
 
 
 
 
 
 
 
$
73,889

Market value as a percentage of cost
 
 
 
 
 
 
 
 
101.5
%
The cost and fair market values associated with preneed cemetery trust investments at December 31, 2016 are detailed below (in thousands):
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
Cash and money market accounts
1
 
$
10,852

 
$
—

 
$
—

 
$
10,852

Fixed income securities:
 
 
 
 
 
 
 
 
 
Municipal bonds
2
 
496

 
18

 
(4
)
 
510

Foreign debt
2
 
7,574

 
160

 
(656
)
 
7,078

Corporate debt
2
 
20,621

 
1,569

 
(1,123
)
 
21,067

Preferred stock
2
 
16,287

 
8

 
(947
)
 
15,348

Mortgage-backed securities
2
 
949

 
372

 
(4
)
 
1,317

Common stock
1
 
13,250

 
2,191

 
(1,838
)
 
13,603

Mutual funds:
 
 
 
 
 
 
 
 
 
Fixed income
 
 
1,223

 
107

 
—

 
1,330

Trust securities
 
 
$
71,252

 
$
4,425

 
$
(4,572
)
 
$
71,105

Accrued investment income
 
 
$
729

 
 
 
 
 
$
729

Preneed cemetery trust investments
 
 
 
 
 
 
 
 
$
71,834

Market value as a percentage of cost
 
 
 
 
 
 
 
 
99.8
%
Estimated maturities of fixed preneed cemetery trust income securities
The estimated maturities of the fixed income securities included above are as follows (in thousands):
Due in one year or less
$
15

Due in one to five years
2,718

Due in five to ten years
5,751

Thereafter
33,879

Total
$
42,363
Schedule of fair market value and unrealized loss on cemetery merchandise and service trust investments
Our preneed cemetery trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of September 30, 2017 are shown in the following table (in thousands):
 
September 30, 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
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Foreign debt
$
153

 
$
(2
)
 
$
1,657

 
$
(166
)
 
$
1,810

 
$
(168
)
Corporate debt
2,158

 
(410
)
 
624

 
(143
)
 
2,782

 
(553
)
Preferred stock
273

 
(2
)
 
8,111

 
(522
)
 
8,384

 
(524
)
Mortgage-backed securities
200

 
(23
)
 
—

 
—

 
200

 
(23
)
Common stock
8,473

 
(2,247
)
 
1,936

 
(872
)
 
10,409

 
(3,119
)
Mutual Funds:
 
 
 
 
 
 
 
 
 
 
 
Fixed Income
—

 
—

 
—

 
—

 
—

 
—

Total temporary impaired securities
$
11,257

 
$
(2,684
)
 
$
12,328

 
$
(1,703
)
 
$
23,585

 
$
(4,387
)
Our preneed cemetery trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of December 31, 2016 are shown in the following table (in thousands):
 
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
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Municipal bonds
$
228

 
$
(4
)
 
$
—

 
$
—

 
$
228

 
$
(4
)
Foreign debt
2,523

 
(180
)
 
2,868

 
(475
)
 
5,391

 
(655
)
Corporate debt
6,939

 
(233
)
 
2,168

 
(890
)
 
9,107

 
(1,123
)
Preferred stock
3,217

 
(121
)
 
11,635

 
(826
)
 
14,852

 
(947
)
Mortgage-backed securities
51

 
(5
)
 
—

 
—

 
51

 
(5
)
Common stock
2,608

 
(202
)
 
3,385

 
(1,636
)
 
5,993

 
(1,838
)
Total temporary impaired securities
$
15,566

 
$
(745
)
 
$
20,056

 
$
(3,827
)
 
$
35,622

 
$
(4,572
)
Preneed cemetery trust investment security transactions
Preneed cemetery trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations for the three and nine months ended September 30, 2016 and 2017 were as follows (in thousands):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2016
 
2017
 
2016
 
2017
Investment income
$
578

 
$
474

 
$
1,546

 
$
1,755

Realized gains
126

 
—

 
415

 
2,215

Realized losses
(673
)
 
—

 
(4,081
)
 
(1,312
)
Expenses and taxes
(139
)
 
(336
)
 
(832
)
 
(1,213
)
Decrease (increase) in deferred preneed cemetery receipts held in trust
108

 
(138
)
 
2,952

 
(1,445
)
 
$
—

 
$
—

 
$
—

 
$
—
Purchases and sales of investments in preneed cemetary trusts
Purchases and sales of investments in the preneed cemetery trusts for the three and nine months ended September 30, 2016 and 2017 were as follows (in thousands):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2016
 
2017
 
2016
 
2017
Purchases
$
(1,434
)
 
$
(915
)
 
$
(19,540
)
 
$
(19,355
)
Sales
$
5,973

 
$
—

 
$
18,003

 
$
13,189
Components of preneed funeral trust investments
The components of Preneed funeral trust investments on our Consolidated Balance Sheets at December 31, 2016 and September 30, 2017 were as follows (in thousands):
 
December 31, 2016
 
September 30, 2017
Preneed funeral trust investments, at market value
$
91,980

 
$
92,151

Less: allowance for contract cancellation
(2,740
)
 
(2,707
)
Preneed funeral trust investments, net
$
89,240

 
$
89,444
Estimated maturities of fixed preneed funeral trust income securities
The estimated maturities of the fixed income securities included above are as follows (in thousands):
Due in one year or less
$
78

Due in one to five years
4,320

Due in five to ten years
6,208

Thereafter
35,000

Total
$
45,606
Cost and fair market values associated with preneed funeral trust investments
The cost and fair market values associated with preneed funeral trust investments at September 30, 2017 are detailed below (in thousands):
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
Cash and money market accounts
1
 
$
15,636

 
$
—

 
$
—

 
$
15,636

Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S treasury debt
1
 
1,490

 
13

 
(4
)
 
1,499

Foreign debt
2
 
4,882

 
282

 
(166
)
 
4,998

Corporate debt
2
 
20,244

 
1,165

 
(571
)
 
20,838

Preferred stock
2
 
16,837

 
457

 
(526
)
 
16,768

Mortgage-backed securities
2
 
1,273

 
255

 
(25
)
 
1,503

Common stock
1
 
24,488

 
3,392

 
(3,133
)
 
24,747

Mutual funds:
 
 
 
 
 
 
 
 
 
Fixed income
2
 
1,998

 
87

 
(38
)
 
2,047

Other investments
2
 
3,374

 
—

 
—

 
3,374

Trust securities
 
 
$
90,222

 
$
5,651

 
$
(4,463
)
 
$
91,410

Accrued investment income
 
 
$
741

 
 
 
 
 
$
741

Preneed funeral trust investments
 
 
 
 
 
 
 
 
$
92,151

Market value as a percentage of cost
 
 
 
 
 
 
 
 
101.3
%
The cost and fair market values associated with preneed funeral trust investments at December 31, 2016 are detailed below (in thousands):
 
Fair Value Hierarchy Level
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
Cash and money market accounts
1
 
$
22,787

 
$
—

 
$
—

 
$
22,787

Fixed income securities:
 
 
 
 
 
 
 
 
 
U.S. treasury debt
1
 
1,491

 
21

 
(10
)
 
1,502

Municipal bonds
2
 
447

 
17

 
(4
)
 
460

Foreign debt
2
 
7,692

 
170

 
(677
)
 
7,185

Corporate debt
2
 
21,454

 
1,566

 
(1,134
)
 
21,886

Preferred stock
2
 
17,037

 
64

 
(970
)
 
16,131

Mortgage-backed securities
2
 
1,165

 
400

 
(5
)
 
1,560

Common stock
1
 
13,675

 
2,256

 
(1,850
)
 
14,081

Mutual funds:
 
 
 
 
 
 
 
 
 
Fixed income
2
 
2,124

 
115

 
(66
)
 
2,173

Other investments
2
 
3,463

 
—

 
—

 
3,463

Trust securities
 
 
$
91,335

 
$
4,609

 
$
(4,716
)
 
$
91,228

Accrued investment income
 
 
$
752

 
 
 
 
 
$
752

Preneed funeral trust investments
 
 
 
 
 
 
 
 
$
91,980

Market value as a percentage of cost
 
 
 
 
 
 
 
 
99.9
%
Schedule of fair market value and unrealized loss on preneed funeral trust investments
Our preneed funeral trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of September 30, 2017 are shown in the following table (in thousands):
 
September 30, 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
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury debt
$
837

 
$
(4
)
 
$
—

 
$
—

 
$
837

 
$
(4
)
Foreign debt
170

 
(4
)
 
1,628

 
(163
)
 
1,798

 
(167
)
Corporate debt
2,273

 
(430
)
 
609

 
(141
)
 
2,882

 
(571
)
Preferred stock
191

 
(6
)
 
8,183

 
(520
)
 
8,374

 
(526
)
Mortgage-backed securities
234

 
(24
)
 
9

 
—

 
243

 
(24
)
Common stock
8,497

 
(2,241
)
 
1,934

 
(892
)
 
10,431

 
(3,133
)
Mutual Funds:
 
 
 
 
 
 
 
 
 
 
 
Fixed income
79

 
(1
)
 
608

 
(37
)
 
687

 
(38
)
Total temporary impaired securities
$
12,281

 
$
(2,710
)
 
$
12,971

 
$
(1,753
)
 
$
25,252

 
$
(4,463
)
Our preneed funeral trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of December 31, 2016 are shown in the following table (in thousands):
 
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
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury debt
$
834

 
$
(10
)
 
$
—

 
$
—

 
$
834

 
$
(10
)
Municipal bonds
244

 
(5
)
 
—

 
—

 
244

 
(5
)
Foreign debt
2,654

 
(186
)
 
2,905

 
(490
)
 
5,559

 
(676
)
Corporate debt
6,977

 
(215
)
 
2,234

 
(919
)
 
9,211

 
(1,134
)
Preferred stock
3,420

 
(128
)
 
11,750

 
(842
)
 
15,170

 
(970
)
Mortgage-backed securities
55

 
(5
)
 
11

 
(1
)
 
66

 
(6
)
Common stock
2,795

 
(216
)
 
3,390

 
(1,634
)
 
6,185

 
(1,850
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Fixed income
97

 
(7
)
 
644

 
(58
)
 
741

 
(65
)
Total temporary impaired securities
$
17,076

 
$
(772
)
 
$
20,934

 
$
(3,944
)
 
$
38,010

 
$
(4,716
)
Preneed funeral trust investment security transactions
Preneed funeral trust investment security transactions recorded in Other, net on the Consolidated Statements of Operations for the three and nine months ended September 30, 2016 and 2017 were as follows (in thousands):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2016
 
2017
 
2016
 
2017
Investment income
$
596

 
$
524

 
$
1,639

 
$
1,801

Realized gains
131

 
—

 
525

 
2,296

Realized losses
(716
)
 
(2
)
 
(4,090
)
 
(1,314
)
Expenses and taxes
(253
)
 
(390
)
 
(946
)
 
(1,106
)
Decrease (increase) in deferred preneed funeral receipts held in trust
242

 
(132
)
 
2,872

 
(1,677
)
 
$
—

 
$
—

 
$
—

 
$
—
Purchases and sales of investments in preneed funeral trusts
Purchases and sales of investments in the preneed funeral trusts for the three and nine months ended September 30, 2016 and 2017 were as follows (in thousands):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2016
 
2017
 
2016
 
2017
Purchases
$
(1,486
)
 
$
(966
)
 
$
(19,917
)
 
$
(19,548
)
Sales
$
6,336

 
$
23

 
$
19,005

 
$
13,266