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Trust Investments (Tables)
 9 Months Ended
Sep. 30, 2026
Preneed Trust Investments [Abstract]  
Components of preneed cemetery trust investments
The components of Preneed cemetery trust investments on our Condensed Consolidated Balance Sheets are as follows (in thousands):
September 30, 2026December 31, 2025
Preneed cemetery trust investments, at market value$116,504 $112,531 
Less: allowance for contract cancellation(3,519)(3,379)
Preneed cemetery trust investments$112,985 $109,152 
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, 2026, are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$14,683 $— $— $14,683
Common stock111,904 2,047 (1,667)12,284
Limited partnership fund3,532 285 — 3,817
Mutual funds:
Equity110,280 90 (1,066)9,304
Fixed income241,777 — (1,468)40,309
Alternative investments35,121 455 (144)35,432
Trust securities$117,297 $2,877 $(4,345)$115,829
Accrued investment income$675 $675
Preneed cemetery trust investments$116,504
Market value as a percentage of cost98.7 %
The cost and market values associated with preneed cemetery trust investments at December 31, 2025 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$15,653 $— $— $15,653
Common stock111,599 768 (1,709)10,658
Limited partnership fund3,496 — (93)3,403
Mutual funds:
Equity19,483 — (279)9,204
Fixed income243,013 353 (50)43,316
Alternative investments29,380 374 (68)29,686
Trust securities$112,624 $1,495 $(2,199)$111,920
Accrued investment income$611 $611
Preneed cemetery trust investments$112,531
Market value as a percentage of cost99.4 %
Preneed cemetery trust investment security transactions
Preneed cemetery trust investment security transactions recorded in Other, net on our Condensed Consolidated Statements of Operations are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2026202520262025
Investment income$658 $626 $1,814 $2,043 
Realized gains— 1,807 402 10,009 
Realized losses(20)(656)(118)(7,753)
Unrealized gains (losses), net(1,434)(437)(1,468)(468)
Expenses and taxes(693)(557)(1,616)(1,366)
Net change in deferred preneed cemetery receipts held in trust1,489 (783)986 (2,465)
$— $— $— $— 
Purchases and sales of investments in preneed cemetary trusts
Purchases and sales of investments in the preneed cemetery trusts are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2026202520262025
Purchases$(3,114)$(19,372)$(15,512)$(61,050)
Sales2,007 19,955 12,108 67,957 
Components of preneed funeral trust investments
The components of Preneed funeral trust investments on our Condensed Consolidated Balance Sheets are as follows (in thousands):
September 30, 2026December 31, 2025
Preneed funeral trust investments, at market value$113,890 $118,993 
Less: allowance for contract cancellation(3,439)(3,577)
Preneed funeral trust investments$110,451 $115,416 
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$99 
Due in one to five years90 
Due in five to ten years95 
Thereafter— 
Total fixed income securities$284 
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, 2026 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$19,610 $— $— $19,610
Fixed income securities:
U.S agency obligations2307 — (23)284
Common stock111,299 1,942 (1,582)11,659
Limited partnership fund3,352 271 — 3,623
Mutual funds:
Equity19,235 19 (1,012)8,242
Fixed income235,805 — (1,251)34,554
Other investments21,692 — — 1,692
Alternative investments33,336 432 (136)33,632
Trust securities$114,636 $2,664 $(4,004)$113,296
Accrued investment income$594 $594
Preneed funeral trust investments$113,890
Market value as a percentage of cost98.8 %
The cost and market values associated with preneed funeral trust investments at December 31, 2025 are detailed below (in thousands):
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$20,985 $— $— $20,985
Fixed income securities:
U.S agency obligations2306 — (18)288
Common stock111,981 793 (1,765)11,009
Limited partnership fund3,611 — (97)3,514
Mutual funds:
Equity19,226 — (276)8,950
Fixed income241,059 331 (48)41,342
Other investments21,724 — — 1,724
Alternative investments30,344 386 (70)30,660
Trust securities$119,236 $1,510 $— $(2,274)$118,472
Accrued investment income$521 $521
Preneed funeral trust investments$118,993
Market value as a percentage of cost99.4 %
Schedule of fair market value and unrealized loss on preneed funeral trust investments
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed funeral trust investment in an unrealized loss position at September 30, 2026, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
September 30, 2026
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
U.S agency obligations$— $— $284 $(23)$284 $(23)
Total fixed income securities with an unrealized loss$— $— $284 $(23)$284 $(23)
The following table summarizes our fixed income securities (excluding mutual funds) within our preneed funeral trust investment in an unrealized loss position at December 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):
December 31, 2025
In Loss Position Less than 12 monthsIn Loss Position Greater than 12 monthsTotal
Fair market valueUnrealized LossesFair market valueUnrealized LossesFair market valueUnrealized Losses
Fixed income securities:
U.S agency obligations$— $— $288 $(18)$288 $(18)
Total fixed income securities with an unrealized loss$— $— $288 $(18)$288 $(18)
Purchases and sales of investments in preneed funeral trusts
Purchases and sales of investments in the preneed funeral trusts are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2026202520262025
Purchases$(2,956)$(16,839)(14,363)(53,294)
Sales1,905 18,013 11,839 60,470 
Cemetery Perpetual Care Trust Investments
Care trusts’ corpus on our Condensed Consolidated Balance Sheets represent the corpus of those trusts plus undistributed income. The components of Care trusts’ corpus are as follows (in thousands): 
September 30, 2026December 31, 2025
Cemetery perpetual care trust investments, at market value$99,094 $95,625 
Obligations due to (due from) trust(322)(2,200)
Care trusts' corpus$98,772 $93,425 
The following table reflects the cost and market values associated with the trust investments held in perpetual care trust funds at September 30, 2026 (in thousands):
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$6,001 $— $— $6,001
Fixed income securities:
Common stock110,503 1,806 (1,471)10,838
Limited partnership fund3,116 252 — 3,368
Mutual funds:
Equity19,485 132 (941)8,676
Fixed income239,703 — (1,397)38,306
Alternative investments30,991 401 (127)31,265
Trust securities$99,799 $2,591 $(3,936)$98,454
Accrued investment income$640 $640
Cemetery perpetual care trust investments$99,094
Market value as a percentage of cost98.7 %
The following table reflects the cost and market values associated with the trust investments held in perpetual care trust funds at December 31, 2025 (in thousands): 
Fair Value Hierarchy LevelCostUnrealized GainsUnrealized LossesFair Market Value
Cash and money market accounts1$8,800 $— $— $8,800
Fixed income securities:
Corporate debt294 2 — 96
Common stock110,527 1,028 (1,451)10,104
Limited partnership fund2,892 — (77)2,815
Mutual funds:
Equity19,271 216 (257)9,230
Fixed income239,229 319 (145)39,403
Alternative investments24,308 310 (57)24,561
Trust securities$95,121 $1,875 $(1,987)$95,009
Accrued investment income$616 $616
Cemetery perpetual care trust investments$95,625
Market value as a percentage of cost99.9 %
Perpetual care trust investment security transactions recorded in Other, net on our Condensed Consolidated Statements of Operations are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2026202520262025
Realized gains$— $298 700 1,577 
Realized losses(3)(533)$(176)$(1,962)
Unrealized gains (losses), net(1,361)325 (1,345)112 
Net change in care trusts’ corpus1,364 (90)821 273 
$— $— $— $— 
Perpetual care trust investment security transactions recorded in Other revenue are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2026202520262025
Investment income$2,174 $2,549 $6,002 $7,456 
Realized losses(2,820)87 (3,711)(1,172)
Total$(646)$2,636 $2,291 $6,284 
Purchases and sales of investments in the perpetual care trusts are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2026202520262025
Purchases$(2,748)$(17,798)$(13,980)$(56,694)
Sales1,771 18,109 $14,103 $61,040 
Preneed funereal trust investment security transactions
Preneed funeral trust investment security transactions recorded in Other, net on our Condensed Consolidated Statements of Operations are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2026202520262025
Investment income$487 $491 1,384 1,485 
Realized gains— 1,652 406 9,100 
Realized losses(19)(383)(117)(6,611)
Unrealized gains (losses), net(1,235)2,415 (1,340)2,626 
Expenses and taxes(545)(347)(1,250)(817)
Net change in deferred preneed funeral receipts held in trust1,312 (3,827)917 (5,782)
$— $— $— $—