SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

14. SEGMENT INFORMATION

Management operates the Company in two reportable operating segments: Cemetery Operations and Funeral Home Operations. These operating segments reflect the way the Company manages its operations and makes business decisions. Management evaluates the performance of these operating segments based on interments performed, interment rights sold, pre-need cemetery and at-need cemetery contracts written, revenue and segment profit (loss). As a percentage of revenue and assets, the Company’s major operations consist of its cemetery operations.

The following tables present financial information with respect to the Company’s segments (in thousands). Corporate costs represent those not directly associated with an operating segment, such as corporate overhead, interest expense and income taxes. Corporate assets primarily consist of cash and cash equivalents and restricted cash.

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
STATEMENT OF OPERATIONS DATA:
Cemetery Operations:
Revenues	$	72,128		$	56,863		$	139,108		$	111,660
Operating costs and expenses		(55,951	)		(47,834	)		(109,696	)		(95,762	)
Depreciation and amortization		(1,505	)		(1,606	)		(3,081	)		(3,259	)
Segment operating profit	$	14,672		$	7,423		$	26,331		$	12,639
Funeral Home Operations:
Revenues	$	10,853		$	9,738		$	22,186		$	20,043
Operating costs and expenses		(9,194	)		(8,279	)		(18,535	)		(16,769	)
Depreciation and amortization		(423	)		(461	)		(854	)		(906	)
Segment operating profit	$	1,236		$	998		$	2,797		$	2,368
Reconciliation of segment operating profit to net loss from continuing operations:
Cemetery Operations	$	14,672		$	7,423		$	26,331		$	12,639
Funeral Home Operations		1,236			998			2,797			2,368
Total segment profit		15,908			8,421			29,128			15,007
Corporate overhead		(9,534	)		(8,756	)		(19,075	)		(17,257	)
Corporate depreciation and amortization		(99	)		(226	)		(194	)		(442	)
Loss on sale of business and other impairments		(2,220	)		—			(2,220	)		—
Other gains		69			—			69			—
Interest expense		(9,977	)		(11,729	)		(20,450	)		(23,082	)
Loss on debt extinguishment		(40,128	)		—			(40,128	)		—
Income tax benefit		9,736			3,492			11,412			2,204
Net loss from continuing operations	$	(36,245	)	$	(8,798	)	$	(41,458	)	$	(23,570	)
CASH FLOW DATA:
Capital expenditures:
Cemetery Operations	$	1,345		$	1,357		$	3,058		$	2,545
Funeral Home Operations		35			7			96			17
Corporate		207			354			207			1,229
Total capital expenditures	$	1,587		$	1,718		$	3,361		$	3,791

	June 30, 2021		December 31, 2020
BALANCE SHEET DATA:
Assets:
Cemetery Operations	$	1,472,646	$	1,445,217
Funeral Home Operations		127,126		130,687
Corporate		112,416		59,059
Total assets	$	1,712,188	$	1,634,963
Assets held for sale:
Cemetery Operations	$	—	$	23,500
Funeral Home Operations		—		5,075
Total assets held for sale	$	—	$	28,575