XML 21 R26.htm IDEA: XBRL DOCUMENT v2.3.0.15
Preneed Funeral Activities Level 3 (Tables)
9 Months Ended
Sep. 30, 2011
Preneed funeral receivables net and trust investments [Line Items] 
Schedule of Unrealized Loss on Investments [Table Text Block]
Our cemetery merchandise and service trust investment unrealized losses, their associated fair market values and the duration of unrealized losses as of September 30, 2011 are shown in the following tables:
 
September 30, 2011
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
1,817

 
$
(41
)
 
$
3,042

 
$
(264
)
 
$
4,859

 
$
(305
)
Canadian government
3,307

 
(10
)
 
—

 
—

 
3,307

 
(10
)
Corporate
18,660

 
(1,628
)
 
—

 
—

 
18,660

 
(1,628
)
Residential mortgage-backed
—

 
—

 
15

 
(1
)
 
15

 
(1
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
2,428

 
(462
)
 
—

 
—

 
2,428

 
(462
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
172,584

 
(43,555
)
 
19,470

 
(4,684
)
 
192,054

 
(48,239
)
Canada
5,448

 
(966
)
 
457

 
(561
)
 
5,905

 
(1,527
)
Other international
14,670

 
(2,454
)
 
3,426

 
(1,574
)
 
18,096

 
(4,028
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
83,652

 
(13,461
)
 
58,659

 
(10,571
)
 
142,311

 
(24,032
)
Fixed income
49,081

 
(4,293
)
 
10,872

 
(11,539
)
 
59,953

 
(15,832
)
Private equity
426

 
(275
)
 
12,776

 
(15,983
)
 
13,202

 
(16,258
)
Total temporarily impaired securities
$
352,073

 
$
(67,145
)
 
$
108,717

 
$
(45,177
)
 
$
460,790

 
$
(112,322
)


 
December 31, 2010
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
6,057

 
$
(295
)
 
$
315

 
$
(12
)
 
$
6,372

 
$
(307
)
Canadian government
2,908

 
(4
)
 
—

 
—

 
2,908

 
(4
)
Corporate
8,577

 
(402
)
 
—

 
—

 
8,577

 
(402
)
Residential mortgage-backed
—

 
—

 
20

 
(1
)
 
20

 
(1
)
Asset-backed
766

 
(4
)
 
56

 
(1
)
 
822

 
(5
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,749

 
(124
)
 
—

 
—

 
1,749

 
(124
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
63,027

 
(4,450
)
 
31,108

 
(6,371
)
 
94,135

 
(10,821
)
Canada
3,131

 
(181
)
 
1,475

 
(669
)
 
4,606

 
(850
)
Other international
8,542

 
(1,403
)
 
5,259

 
(2,242
)
 
13,801

 
(3,645
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
5,107

 
(112
)
 
92,630

 
(18,457
)
 
97,737

 
(18,569
)
Fixed income
25,887

 
(354
)
 
14,600

 
(9,605
)
 
40,487

 
(9,959
)
Private equity
—

 
—

 
5,557

 
(13,890
)
 
5,557

 
(13,890
)
Other
7

 
(1
)
 
303

 
(384
)
 
310

 
(385
)
Total temporarily impaired securities
$
125,758

 
$
(7,330
)
 
$
151,323

 
$
(51,632
)
 
$
277,081

 
$
(58,962
)
Our cemetery perpetual care trust investment unrealized losses, their associated fair market values and the duration of unrealized losses, are shown in the following tables.

 
September 30, 2011
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
564

 
$
(2
)
 
$
—

 
$
—

 
$
564

 
$
(2
)
Canadian government
5,590

 
(18
)
 
—

 
—

 
5,590

 
(18
)
Corporate
2,876

 
(79
)
 
231

 
(13
)
 
3,107

 
(92
)
Residential mortgage-backed
27

 
(1
)
 
110

 
(10
)
 
137

 
(11
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
4,720

 
(1,188
)
 
22

 
(28
)
 
4,742

 
(1,216
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
64,616

 
(11,145
)
 
9,435

 
(5,835
)
 
74,051

 
(16,980
)
Canada
3,300

 
(663
)
 
618

 
(574
)
 
3,918

 
(1,237
)
Other international
10,925

 
(1,852
)
 
347

 
(407
)
 
11,272

 
(2,259
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
11,439

 
(1,573
)
 
2,814

 
(763
)
 
14,253

 
(2,336
)
Fixed income
180,580

 
(11,196
)
 
39,050

 
(5,003
)
 
219,630

 
(16,199
)
Private equity
258

 
(362
)
 
10,315

 
(13,869
)
 
10,573

 
(14,231
)
Other
134

 
(190
)
 
5,390

 
(2,134
)
 
5,524

 
(2,324
)
Total temporarily impaired securities
$
285,029

 
$
(28,269
)
 
$
68,332

 
$
(28,636
)
 
$
353,361

 
$
(56,905
)


 
December 31, 2010
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
1,669

 
$
(31
)
 
$
—

 
$
—

 
$
1,669

 
$
(31
)
Canadian government
4,966

 
(7
)
 
—

 
—

 
4,966

 
(7
)
Corporate
9,181

 
(221
)
 
675

 
(28
)
 
9,856

 
(249
)
Residential mortgage-backed
137

 
(2
)
 
92

 
(4
)
 
229

 
(6
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,561

 
(90
)
 
29

 
(22
)
 
1,590

 
(112
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
15,419

 
(1,464
)
 
16,419

 
(5,176
)
 
31,838

 
(6,640
)
Canada
1,545

 
(82
)
 
1,454

 
(676
)
 
2,999

 
(758
)
Other international
3,175

 
(242
)
 
2,383

 
(1,603
)
 
5,558

 
(1,845
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
866

 
(10
)
 
29,974

 
(7,229
)
 
30,840

 
(7,239
)
Fixed income
18,166

 
(134
)
 
53,553

 
(2,200
)
 
71,719

 
(2,334
)
Private equity
1

 
(1
)
 
10,060

 
(13,343
)
 
10,061

 
(13,344
)
Other
1

 
(2
)
 
5,568

 
(2,655
)
 
5,569

 
(2,657
)
Total temporarily impaired securities
$
56,687

 
$
(2,286
)
 
$
120,207

 
$
(32,936
)
 
$
176,894

 
$
(35,222
)
Funeral [Member]
 
Preneed funeral receivables net and trust investments [Line Items] 
Investment related activities [Table Text Block]
The table below sets forth certain investment-related activities associated with our preneed funeral merchandise and service trusts:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2011
 
2010
 
2011
 
2010
 
(In thousands)
Deposits
$
18,960

 
$
18,771

 
$
55,189

 
$
61,294

Withdrawals
26,789

 
25,546

 
79,734

 
85,284

Purchases of available-for-sale securities
140,554

 
77,042

 
387,545

 
390,345

Sales of available-for-sale securities
114,476

 
86,754

 
448,988

 
401,253

Realized gains from sales of available-for-sale securities
11,353

 
5,963

 
49,618

 
26,461

Realized losses from sales of available-for-sale securities
(6,586
)
 
(8,360
)
 
(18,215
)
 
(42,017
)
Long-term receivable and investment components [Table Text Block]
The components of Preneed funeral receivables, net and trust investments in our unaudited condensed consolidated balance sheet at September 30, 2011 and December 31, 2010 are as follows:
 
September 30, 2011
 
December 31, 2010
 
(In thousands)
Trust investments, at market
$
875,770

 
$
875,043

Cash and cash equivalents
100,911

 
121,212

Insurance-backed fixed income securities
267,603

 
220,287

Trust investments
1,244,284

 
1,216,542

Receivables from customers
251,788

 
247,434

Unearned finance charge
(5,461
)
 
(5,620
)
 
1,490,611

 
1,458,356

Allowance for cancellation
(34,481
)
 
(33,799
)
Preneed funeral receivables and trust investments
$
1,456,130

 
$
1,424,557

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
September 30, 2011
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
U.S. Treasury
$
76,987

 
$
4,032

 
$
(336
)
 
$
80,683

Canadian government
113,763

 
628

 
(50
)
 
114,341

Corporate
51,128

 
1,353

 
(1,207
)
 
51,274

Residential mortgage-backed
3,388

 
77

 
(32
)
 
3,433

Asset-backed
127

 
6

 
—

 
133

Equity securities:
 
 
 
 
 
 
 
Preferred stock
2,344

 
19

 
(292
)
 
2,071

Common stock:
 
 
 
 
 
 
 
United States
267,707

 
28,059

 
(36,268
)
 
259,498

Canada
23,638

 
2,824

 
(1,354
)
 
25,108

Other international
19,481

 
460

 
(3,219
)
 
16,722

Mutual funds:
 
 
 
 
 
 
 
Equity
132,562

 
1,685

 
(23,543
)
 
110,704

Fixed income
195,093

 
6,298

 
(9,995
)
 
191,396

Private equity
36,800

 
1,408

 
(18,713
)
 
19,495

Other
518

 
394

 
—

 
912

Trust investments
$
923,536

 
$
47,243

 
$
(95,009
)
 
$
875,770


 
December 31, 2010
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Market
Value
 
 
 
(In thousands)
 
 
Fixed income securities:
 
 
 
 
 
 
 
U.S. Treasury
$
71,948

 
$
2,061

 
$
(334
)
 
$
73,675

Canadian government
121,137

 
1,004

 
(20
)
 
122,121

Corporate
33,627

 
2,751

 
(285
)
 
36,093

Residential mortgage-backed
5,310

 
135

 
(22
)
 
5,423

Asset-backed
2,984

 
97

 
(2
)
 
3,079

Equity securities:
 
 
 
 
 
 
 
Preferred stock
2,835

 
296

 
(78
)
 
3,053

Common stock:
 
 
 
 
 
 
 
United States
268,650

 
63,301

 
(8,391
)
 
323,560

Canada
22,452

 
4,542

 
(798
)
 
26,196

Other international
21,611

 
2,240

 
(2,330
)
 
21,521

Mutual funds:
 
 
 
 
 
 
 
Equity
116,260

 
6,123

 
(18,289
)
 
104,094

Fixed income
134,181

 
6,316

 
(5,628
)
 
134,869

Private equity
27,864

 
1,395

 
(16,890
)
 
12,369

Other
8,833

 
615

 
(458
)
 
8,990

Trust investments
$
837,692

 
$
90,876

 
$
(53,525
)
 
$
875,043

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The inputs into the fair value of our market-based funeral merchandise and service trust investments are categorized as follows:
 
Quoted Market
Prices in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
Fair Market
Value
 
 
 
(In thousands)
 
 
Trust investments at September 30, 2011
$
603,428

 
$
251,935

 
$
20,407

 
$
875,770

Trust investments at December 31, 2010
$
610,240

 
$
243,444

 
$
21,359

 
$
875,043

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The change in our market-based funeral merchandise and service trust investments with significant unobservable inputs (Level 3) is as follows (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2011
 
2010
 
2011
 
2010
Fair market value, beginning balance
$
29,031

 
$
19,707

 
$
21,359

 
$
12,052

Net unrealized (losses) gains included in Accumulated other comprehensive income(1)
(7,757
)
 
501

 
(1,001
)
 
(569
)
Net realized losses included in Other income, net(2)
(8
)
 
(43
)
 
(67
)
 
(66
)
Purchases
18

 
—

 
18

 
7,343

Sales
(7,970
)
 
(10
)
 
(8,156
)
 
(10
)
Contributions
7,615

 
255

 
9,397

 
1,691

Distributions and other
(522
)
 
(364
)
 
(1,143
)
 
(395
)
Fair market value, ending balance
$
20,407

 
$
20,046

 
$
20,407

 
$
20,046

Investments Classified by Contractual Maturity Date [Table Text Block]
Maturity dates of our fixed income securities range from 2011 to 2041. Maturities of fixed income securities at September 30, 2011 are estimated as follows:
 
Fair Market Value
 
(In thousands)
Due in one year or less
$
136,116

Due in one to five years
51,838

Due in five to ten years
38,398

Thereafter
23,512

 
$
249,864

Schedule of Unrealized Loss on Investments [Table Text Block]
. Our funeral merchandise and service trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of September 30, 2011 and December 31, 2010, respectively, are shown in the following tables:
 
September 30, 2011
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
8,064

 
$
(80
)
 
$
9,021

 
$
(256
)
 
$
17,085

 
$
(336
)
Canadian government
9,536

 
(48
)
 
105

 
(2
)
 
9,641

 
(50
)
Corporate
20,897

 
(1,171
)
 
979

 
(36
)
 
21,876

 
(1,207
)
Residential mortgage-backed
369

 
(2
)
 
391

 
(30
)
 
760

 
(32
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,645

 
(292
)
 
—

 
—

 
1,645

 
(292
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
122,765

 
(31,623
)
 
17,031

 
(4,645
)
 
139,796

 
(36,268
)
Canada
8,374

 
(1,005
)
 
620

 
(349
)
 
8,994

 
(1,354
)
Other international
9,966

 
(1,867
)
 
2,897

 
(1,352
)
 
12,863

 
(3,219
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
53,310

 
(10,834
)
 
45,439

 
(12,709
)
 
98,749

 
(23,543
)
Fixed income
26,896

 
(3,029
)
 
8,746

 
(6,966
)
 
35,642

 
(9,995
)
Private equity
1,360

 
(1,502
)
 
12,640

 
(17,211
)
 
14,000

 
(18,713
)
Total temporarily impaired securities
$
263,182

 
$
(51,453
)
 
$
97,869

 
$
(43,556
)
 
$
361,051

 
$
(95,009
)

 
December 31, 2010
 
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
 
 
 
 
 
(In thousands)
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
10,433

 
$
(316
)
 
$
393

 
$
(18
)
 
$
10,826

 
$
(334
)
Canadian government
1,632

 
(2
)
 
668

 
(18
)
 
2,300

 
(20
)
Corporate
5,619

 
(285
)
 
—

 
—

 
5,619

 
(285
)
Residential mortgage-backed
836

 
(9
)
 
263

 
(13
)
 
1,099

 
(22
)
Asset-backed
225

 
(1
)
 
53

 
(1
)
 
278

 
(2
)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
1,045

 
(78
)
 
—

 
—

 
1,045

 
(78
)
Common stock:
 
 
 
 
 
 
 
 
 
 
 
United States
41,491

 
(3,019
)
 
24,919

 
(5,372
)
 
66,410

 
(8,391
)
Canada
4,493

 
(324
)
 
1,361

 
(474
)
 
5,854

 
(798
)
Other international
5,251

 
(862
)
 
3,446

 
(1,468
)
 
8,697

 
(2,330
)
Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Equity
3,778

 
(110
)
 
61,844

 
(18,179
)
 
65,622

 
(18,289
)
Fixed income
9,630

 
(156
)
 
8,818

 
(5,472
)
 
18,448

 
(5,628
)
Private equity
214

 
(71
)
 
6,715

 
(16,819
)
 
6,929

 
(16,890
)
Other
8

 
(2
)
 
309

 
(456
)
 
317

 
(458
)
Total temporarily impaired securities
$
84,655

 
$
(5,235
)
 
$
108,789

 
$
(48,290
)
 
$
193,444

 
$
(53,525
)