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Trust Investments (Tables)
 9 Months Ended
Sep. 30, 2020
Preneed Trust Investments [Abstract]  
Components of preneed cemetery trust investments
The components of Preneed cemetery trust investments on our Consolidated Balance Sheet at December 31, 2019 and September 30, 2020 are as follows (in thousands):
December 31, 2019September 30, 2020
Preneed cemetery trust investments, at market value$74,572 $77,968 
Less: allowance for contract cancellation(2,190)(2,388)
Preneed cemetery trust investments$72,382 $75,580 
Cost and fair market values associated with preneed cemetery trust investments
The cost and market values associated with preneed cemetery trust investments at September 30, 2020 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized
Gains		Unrealized
Losses		Fair Market
Value
Cash and money market accounts1$1,332 $— $— $1,332 
Fixed income securities:
Foreign debt215,664 1,148 (1,162)15,650 
Corporate debt216,594 1,188 (813)16,969 
Preferred stock212,526 523 (927)12,122 
Mortgage-backed securities2323 — (189)134 
Common stock126,137 4,729 (7,701)23,165 
Mutual funds:
Fixed Income27,024 728 (250)7,502 
Trust securities$79,600 $8,316 $(11,042)$76,874 
Accrued investment income$1,094 $1,094 
Preneed cemetery trust investments$77,968 
Market value as a percentage of cost96.6 %
The cost and market values associated with preneed cemetery trust investments at December 31, 2019 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized
Gains		Unrealized
Losses		Fair Market
Value
Cash and money market accounts1$5,729 $— $— $5,729 
Fixed income securities:
Foreign debt25,609 312 (243)5,678 
Corporate debt216,916 1,044 (649)17,311 
Preferred stock214,206 904 (164)14,946 
Mortgage-backed securities2517 — (114)403 
Common stock128,569 2,766 (3,017)28,318 
Mutual funds:
Fixed income21,463 72 (85)1,450 
Trust Securities$73,009 $5,098 $(4,272)$73,835 
Accrued investment income$737 $737 
Preneed cemetery trust investments$74,572 
Market value as a percentage of cost101.1 %
Estimated maturities of fixed preneed cemetery trust income securities
The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands):
Due in one year or less$— 
Due in one to five years12,456 
Due in five to ten years9,244 
Thereafter23,175 
Total fixed income securities$44,875 
Schedule of fair market value and unrealized loss on cemetery merchandise and service trust investments
The following table summarized our fixed income securities within our preneed cemetery trust investments in an unrealized loss position at September 30, 2020, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
September 30, 2020
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
Foreign debt$3,048 $(309)$144 $(853)$3,192 $(1,162)
Corporate debt4,073 (330)1,363 (483)5,436 (813)
Preferred stock5,022 (711)441 (216)5,463 (927)
Mortgage-backed securities— — 134 (189)134 (189)
Total fixed income securities with an unrealized loss$12,143 $(1,350)$2,082 $(1,741)$14,225 $(3,091)

December 31, 2019
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
Foreign debt$268 $(42)$758 $(201)$1,026 $(243)
Corporate debt1,368 (168)4,520 (481)5,888 (649)
Preferred stock4,135 (164)— — 4,135 (164)
Mortgage-backed securities— — 402 (114)402 (114)
Total fixed income securities with an unrealized loss$5,771 $(374)$5,680 $(796)$11,451 $(1,170)
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, 2019 and 2020 are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2019202020192020
Investment income$323 $449 $1,308 $1,421 
Realized gains1,180 2,857 5,001 6,392 
Realized losses(1,527)(918)(3,163)(4,490)
Expenses and taxes(396)(357)(1,081)(982)
Net change in deferred preneed cemetery receipts held in trust420 (2,031)(2,065)(2,341)
$— $— $— $— 
Purchases and sales of investments in preneed cemetary trusts
Purchases and sales of investments in the preneed cemetery trusts for the three and nine months ended September 30, 2019 and 2020 are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2019202020192020
Purchases$(13,488)$(10,297)$(33,299)$(42,750)
Sales11,672 9,200 24,690 34,566 
Components of preneed funeral trust investments
The components of Preneed funeral trust investments on our Consolidated Balance Sheet at December 31, 2019 and September 30, 2020 are as follows (in thousands):
December 31, 2019September 30, 2020
Preneed funeral trust investments, at market value$99,246 $95,730 
Less: allowance for contract cancellation(2,911)(2,907)
Preneed funeral trust investments$96,335 $92,823 
Estimated maturities of fixed preneed funeral trust income securities
The estimated maturities of the fixed income securities (excluding mutual funds) included above are as follows (in thousands):
Due in one year or less$829 
Due in one to five years12,042 
Due in five to ten years8,234 
Thereafter22,046 
Total fixed income securities$43,151 
Cost and fair market values associated with preneed funeral trust investments
The cost and market values associated with preneed funeral trust investments at September 30, 2020 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized
Gains		Unrealized
Losses		Fair Market
Value
Cash and money market accounts1$18,546 $— $— $18,546 
Fixed income securities:
U.S treasury debt1819 10 — 829 
Foreign debt215,132 1,133 (1,083)15,182 
Corporate debt215,258 1,086 (766)15,578 
Preferred stock211,772 484 (858)11,398 
Mortgage-backed securities2351 — (187)164 
Common stock124,925 4,659 (7,171)22,413 
Mutual funds:
Fixed income26,128 678 (173)6,633 
Other investments23,943 — — 3,943 
Trust securities$96,874 $8,050 $(10,238)$94,686 
Accrued investment income$1,044 $1,044 
Preneed funeral trust investments$95,730 
Market value as a percentage of cost97.7 %
The cost and market values associated with preneed funeral trust investments at December 31, 2019 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized
Gains		Unrealized
Losses		Fair Market
Value
Cash and money market accounts1$24,160 $— $— $24,160 
Fixed income securities:
U.S. treasury debt1822 — — 822 
Foreign debt25,587 309 (232)5,664 
Corporate debt216,109 992 (646)16,455 
Preferred stock214,094 874 (198)14,770 
Mortgage-backed securities2585 — (117)468 
Common stock127,652 2,773 (2,869)27,556 
Mutual funds:
Equity1772 617 (4)1,385 
Fixed income24,364 107 (107)4,364 
Other investments22,902 — — 2,902 
Trust securities$97,047 $5,672 $(4,173)$98,546 
Accrued investment income$700 $700 
Preneed funeral trust investments$99,246 
Market value as a percentage of cost101.5 %
Schedule of fair market value and unrealized loss on preneed funeral trust investments
The following table summarized our fixed income securities within our preneed funeral trust investment in an unrealized loss position at September 30, 2020, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
September 30, 2020
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
Foreign debt$2,753 $(302)$133 $(781)$2,886 $(1,083)
Corporate debt4,038 (327)1,298 (439)5,336 (766)
Preferred stock4,716 (644)438 (214)5,154 (858)
Mortgage-backed securities— — 137 (187)137 (187)
Total fixed income securities with an unrealized loss$11,507 $(1,273)$2,006 $(1,621)$13,513 $(2,894)

December 31, 2019
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
Foreign debt$274 $(43)$723 $(189)$997 $(232)
Corporate debt1,403 (172)4,433 (474)5,836 (646)
Preferred stock4,412 (198)— — 4,412 (198)
Mortgage-backed securities— — 439 (117)439 (117)
Total fixed income securities with an unrealized loss$6,089 $(413)$5,595 $(780)$11,684 $(1,193)
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, 2019 and 2020 are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2019202020192020
Investment income$328 $373 $1,310 $1,235 
Realized gains1,114 2,821 4,920 6,978 
Realized losses(1,540)(911)(1,964)(4,093)
Expenses and taxes(226)(296)(511)(646)
Net change in deferred preneed funeral receipts held in trust324 (1,987)(3,755)(3,474)
$— $— $— $— 
Purchases and sales of investments in preneed funeral trusts
Purchases and sales of investments in the preneed funeral trusts for the three and nine months ended September 30, 2019 and 2020 are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2019202020192020
Purchases$(12,129)$(9,869)$(31,325)$(41,560)
Sales11,393 8,975 24,994 36,831 
Purchases and sales of investments in the perpetual care trusts for the three and nine months ended September 30, 2019 and 2020 are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2019202020192020
Purchases$(7,680)$(7,960)$(21,954)$(33,638)
Sales6,599 7,168 14,578 29,319 
Components of care trusts' corpus
Care trusts’ corpus on our Consolidated Balance Sheet represent the corpus of those trusts plus undistributed income. The components of Care trusts’ corpus as of December 31, 2019 and September 30, 2020 are as follows (in thousands):
December 31, 2019September 30, 2020
Cemetery perpetual care trust investments, at market value$64,047 $64,824 
Obligations due to (from) trust(631)(204)
Care trusts’ corpus$63,416 $64,620 
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]
The following table summarized our fixed income securities within our perpetual care trust investment in an unrealized loss position at September 30, 2020, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
September 30, 2020
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
Foreign debt$2,307 $(242)$126 $(745)$2,433 $(987)
Corporate debt3,553 (263)1,299 (354)4,852 (617)
Preferred stock4,639 (780)350 (171)4,989 (951)
Mortgage-backed securities— — 106 (149)106 (149)
Total fixed income securities with an unrealized loss$10,499 $(1,285)$1,881 $(1,419)$12,380 $(2,704)
December 31, 2019
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
Foreign debt$168 $(26)$549 $(149)$717 $(175)
Corporate debt1,057 (196)3,253 (338)4,310 (534)
Preferred stock2,989 (106)— — 2,989 (106)
Mortgage-backed securities— — 252 (71)252 (71)
Total fixed income securities with an unrealized loss$4,214 $(328)$4,054 $(558)$8,268 $(886)
Preneed Funeral Trust Investment Security Transactions [Table Text Block]
Perpetual care trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations for the three and nine months ended September 30, 2019 and 2020 are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2019202020192020
Realized gains$291 $773 $1,315 $1,921 
Realized losses(414)(249)(855)(1,534)
Net change in Care trusts’ corpus123 (524)(460)(387)
Total$— $— $— $— 
Perpetual care trust investment security transactions recorded in Other revenue on our Consolidated Statements of Operations for the three and nine months ended September 30, 2019 and 2020 are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2019202020192020
Investment income$1,220 $2,531 $3,414 $5,879 
Realized gains (losses), net(232)63 (512)53 
Total$988 $2,594 $2,902 $5,932