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Preneed Activities Level 3 (Tables) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2024
Dec. 31, 2023
Preneed Activities [Abstract]      
Investment related activities [Table Text Block]  
Three months ended June 30,Six months ended June 30,
2024202320242023
 (In thousands)
Deposits$159,741 $153,817 $315,860 $291,062 
Withdrawals$139,587 $144,550 $270,194 $268,795 
Purchases of securities$740,525 $536,674 $1,082,592 $1,144,462 
Sales of securities$724,333 $537,531 $1,059,059 $1,167,889 
Realized gains from sales of securities(1)
$173,045 $71,551 $278,490 $153,881 
Realized losses from sales of securities(1)
$(25,736)$(52,336)$(57,551)$(102,246)
  
Long-term receivable and investment components [Table Text Block]  
June 30, 2024December 31, 2023
 (In thousands)
Preneed receivables, net$1,526,962 $1,513,933 
Trust investments, at market6,745,118 6,394,796 
Insurance-backed fixed income securities and other237,807 222,424 
Trust investments6,982,925 6,617,220 
Less: Cemetery perpetual care trust investments(2,039,659)(1,939,241)
Preneed trust investments4,943,266 4,677,979 
Preneed receivables, net and trust investments$6,470,228 $6,191,912 
Preneed receivables, net comprised the following:
June 30, 2024
FuneralCemeteryTotal
 (In thousands)
Preneed receivables$190,283 $1,390,965 $1,581,248 
Unearned finance charges(10,445)(7,927)(18,372)
Preneed receivables, at amortized cost179,838 1,383,038 1,562,876 
Reserve for credit losses (18,781)(17,133)(35,914)
Preneed receivables, net$161,057 $1,365,905 $1,526,962 
December 31, 2023
FuneralCemeteryTotal
 (In thousands)
Preneed receivables$190,514 $1,371,804 $1,562,318 
Unearned finance charges(10,100)(5,810)(15,910)
Preneed receivables, at amortized cost180,414 1,365,994 1,546,408 
Reserve for credit losses(17,026)(15,449)(32,475)
Preneed receivables, net$163,388 $1,350,545 $1,513,933 
  
Preneed Funeral Receivables, Net and Trust Investments [Table Text Block]  
The components of Preneed receivables, net and trust investments in our unaudited Condensed Consolidated Balance Sheet were as follows:
June 30, 2024December 31, 2023
 (In thousands)
Preneed receivables, net$1,526,962 $1,513,933 
Trust investments, at market6,745,118 6,394,796 
Insurance-backed fixed income securities and other237,807 222,424 
Trust investments6,982,925 6,617,220 
Less: Cemetery perpetual care trust investments(2,039,659)(1,939,241)
Preneed trust investments4,943,266 4,677,979 
Preneed receivables, net and trust investments$6,470,228 $6,191,912 
  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 December 31, 2023
Fair Value Hierarchy LevelCostUnrealized
Gains		Unrealized
Losses		Value
  (In thousands) 
Fixed income securities:    
U.S. Treasury2$45,645 $145 $(1,376)$44,414 
Canadian government231,896 — — 31,896 
Corporate210,642 138 (17)10,763 
Residential mortgage-backed25,452 29 (104)5,377 
Asset-backed2291 — (51)240 
Equity securities: 
Preferred stock2417 — (97)320 
Common stock: 
United States11,744,919 478,226 (78,630)2,144,515 
Canada142,721 20,251 (676)62,296 
Other international1108,106 19,580 (11,088)116,598 
Mutual funds: 
Equity1876,620 118,476 (9,540)985,556 
Fixed income1998,767 5,727 (109,231)895,263 
Trust investments, at fair value3,865,476 642,572 (210,810)4,297,238 
Commingled funds
Fixed income827,600 2,432 (63,021)767,011 
Equity337,500 71,819 (642)408,677 
Money market funds346,672 — — 346,672 
Alternative investments412,482 169,825 (7,109)575,198 
Trust investments, at net asset value1,924,254 244,076 (70,772)2,097,558 
Trust investments, at market$5,789,730 $886,648 $(281,582)$6,394,796 
 June 30, 2024
Fair Value Hierarchy LevelCostUnrealized
Gains		Unrealized
Losses		Value
  (In thousands) 
Fixed income securities:    
U.S. Treasury2$41,008 $92 $(1,174)$39,926 
Canadian government228,139 — — 28,139 
Corporate210,496 77 (16)10,557 
Residential mortgage-backed25,306 23 (93)5,236 
Asset-backed2287 — (56)231 
Equity securities: 
Preferred stock2411 — (47)364 
Common stock: 
United States11,866,686 540,987 (78,600)2,329,073 
Canada141,053 13,951 (1,497)53,507 
Other international195,201 36,524 (9,399)122,326 
Mutual funds: 
Equity1905,990 138,661 (4,619)1,040,032 
Fixed income11,072,323 3,529 (122,570)953,282 
Trust investments, at fair value4,066,900 733,844 (218,071)4,582,673 
Commingled funds
Fixed income826,695 1,375 (67,867)760,203 
Equity337,136 88,786 (228)425,694 
Money market funds385,415 — — 385,415 
Alternative investments432,745 167,342 (8,954)591,133 
Trust investments, at net asset value1,981,991 257,503 (77,049)2,162,445 
Trust investments, at market$6,048,891 $991,347 $(295,120)$6,745,118 
  
Preneed Activities Text Block   Preneed Activities
Preneed Receivables, Net and Trust Investments
The components of Preneed receivables, net and trust investments in our unaudited Condensed Consolidated Balance Sheet were as follows:
June 30, 2024December 31, 2023
 (In thousands)
Preneed receivables, net$1,526,962 $1,513,933 
Trust investments, at market6,745,118 6,394,796 
Insurance-backed fixed income securities and other237,807 222,424 
Trust investments6,982,925 6,617,220 
Less: Cemetery perpetual care trust investments(2,039,659)(1,939,241)
Preneed trust investments4,943,266 4,677,979 
Preneed receivables, net and trust investments$6,470,228 $6,191,912 
Preneed receivables, net comprised the following:
June 30, 2024
FuneralCemeteryTotal
 (In thousands)
Preneed receivables$190,283 $1,390,965 $1,581,248 
Unearned finance charges(10,445)(7,927)(18,372)
Preneed receivables, at amortized cost179,838 1,383,038 1,562,876 
Reserve for credit losses (18,781)(17,133)(35,914)
Preneed receivables, net$161,057 $1,365,905 $1,526,962 
December 31, 2023
FuneralCemeteryTotal
 (In thousands)
Preneed receivables$190,514 $1,371,804 $1,562,318 
Unearned finance charges(10,100)(5,810)(15,910)
Preneed receivables, at amortized cost180,414 1,365,994 1,546,408 
Reserve for credit losses(17,026)(15,449)(32,475)
Preneed receivables, net$163,388 $1,350,545 $1,513,933 

At June 30, 2024, the amortized cost basis of our preneed receivables by year of origination was as follows:
20242023202220212020PriorTotal
 (In thousands)
Preneed receivables, at amortized cost:
Funeral$38,850 $60,243 $37,051 $17,827 $8,613 $17,254 $179,838 
Cemetery285,460 467,467 321,327 180,408 86,230 42,146 1,383,038 
Total preneed receivables, at amortized cost$324,310 $527,710 $358,378 $198,235 $94,843 $59,400 $1,562,876 

At June 30, 2024, the payment status of our preneed receivables was as follows:
Past Due
<30 Days30-90 Days90-180 Days>180 DaysTotalCurrentTotal
 (In thousands)
Preneed receivables, at amortized cost:
Funeral$6,002 $3,972 $2,334 $28,618 $40,926 $138,912 $179,838 
Cemetery41,888 37,518 9,637 6,918 95,961 1,287,077 1,383,038 
Total preneed receivables, at amortized cost$47,890 $41,490 $11,971 $35,536 $136,887 $1,425,989 $1,562,876 
The following table summarizes the activity for the reserve for credit losses on preneed receivables for the six months ended June 30, 2024:
December 31, 2023Provision for Expected Credit LossesWrite
Offs		Effect of Foreign Currency and OtherJune 30, 2024
 (In thousands)
Funeral$(17,026)$(3,061)$1,264 $42 $(18,781)
Cemetery(15,449)(2,027)333 10 (17,133)
Total reserve for credit losses on preneed receivables$(32,475)$(5,088)$1,597 $52 $(35,914)

The table below sets forth certain investment-related activities associated with our trusts:

Three months ended June 30,Six months ended June 30,
2024202320242023
 (In thousands)
Deposits$159,741 $153,817 $315,860 $291,062 
Withdrawals$139,587 $144,550 $270,194 $268,795 
Purchases of securities$740,525 $536,674 $1,082,592 $1,144,462 
Sales of securities$724,333 $537,531 $1,059,059 $1,167,889 
Realized gains from sales of securities(1)
$173,045 $71,551 $278,490 $153,881 
Realized losses from sales of securities(1)
$(25,736)$(52,336)$(57,551)$(102,246)
(1)All realized gains and losses are recognized in Other income, net for our trust investments and are offset by a corresponding reclassification in Other income, net to Deferred receipts held in trust and Care trusts’ corpus.
The cost and market values associated with trust investments recorded at market value are detailed below. Cost reflects the investment (net of redemptions) of control holders in the trusts. Fair value represents the value of the underlying securities held by the trusts.
 June 30, 2024
Fair Value Hierarchy LevelCostUnrealized
Gains		Unrealized
Losses		Value
  (In thousands) 
Fixed income securities:    
U.S. Treasury2$41,008 $92 $(1,174)$39,926 
Canadian government228,139 — — 28,139 
Corporate210,496 77 (16)10,557 
Residential mortgage-backed25,306 23 (93)5,236 
Asset-backed2287 — (56)231 
Equity securities: 
Preferred stock2411 — (47)364 
Common stock: 
United States11,866,686 540,987 (78,600)2,329,073 
Canada141,053 13,951 (1,497)53,507 
Other international195,201 36,524 (9,399)122,326 
Mutual funds: 
Equity1905,990 138,661 (4,619)1,040,032 
Fixed income11,072,323 3,529 (122,570)953,282 
Trust investments, at fair value4,066,900 733,844 (218,071)4,582,673 
Commingled funds
Fixed income826,695 1,375 (67,867)760,203 
Equity337,136 88,786 (228)425,694 
Money market funds385,415 — — 385,415 
Alternative investments432,745 167,342 (8,954)591,133 
Trust investments, at net asset value1,981,991 257,503 (77,049)2,162,445 
Trust investments, at market$6,048,891 $991,347 $(295,120)$6,745,118 
 December 31, 2023
Fair Value Hierarchy LevelCostUnrealized
Gains		Unrealized
Losses		Value
  (In thousands) 
Fixed income securities:    
U.S. Treasury2$45,645 $145 $(1,376)$44,414 
Canadian government231,896 — — 31,896 
Corporate210,642 138 (17)10,763 
Residential mortgage-backed25,452 29 (104)5,377 
Asset-backed2291 — (51)240 
Equity securities: 
Preferred stock2417 — (97)320 
Common stock: 
United States11,744,919 478,226 (78,630)2,144,515 
Canada142,721 20,251 (676)62,296 
Other international1108,106 19,580 (11,088)116,598 
Mutual funds: 
Equity1876,620 118,476 (9,540)985,556 
Fixed income1998,767 5,727 (109,231)895,263 
Trust investments, at fair value3,865,476 642,572 (210,810)4,297,238 
Commingled funds
Fixed income827,600 2,432 (63,021)767,011 
Equity337,500 71,819 (642)408,677 
Money market funds346,672 — — 346,672 
Alternative investments412,482 169,825 (7,109)575,198 
Trust investments, at net asset value1,924,254 244,076 (70,772)2,097,558 
Trust investments, at market$5,789,730 $886,648 $(281,582)$6,394,796 
Our alternative investments include funds invested in limited partnerships with interests in private equity, private market real estate, energy and natural resources, infrastructure, transportation, and private debt including both distressed debt and mezzanine financing. These investments can never be redeemed by the funds. Instead, due to the nature of the investments in this category, distributions are received through the liquidation of the underlying assets of the funds. The funds' managers have not communicated the timing of any liquidations.
Maturity dates of our fixed income securities range from 2024 to 2040. Maturities of fixed income securities (excluding mutual and commingled funds) at June 30, 2024 are estimated as follows:
 Fair Value
 (In thousands)
Due in one year or less$49,573 
Due in one to five years28,421 
Due in five to ten years6,009 
Thereafter86 
Total estimated maturities of fixed income securities$84,089 
Recognized trust fund income (realized and unrealized) related to our preneed trust investments was $45.9 million and $41.3 million for the three months ended June 30, 2024 and 2023, respectively. Recognized trust fund income (realized and unrealized) related to our cemetery perpetual care trust investments was $25.5 million and $21.4 million for the three months ended June 30, 2024 and 2023, respectively.
Recognized trust fund income (realized and unrealized) related to our preneed trust investments was $88.6 million and $77.3 million for the six months ended June 30, 2024 and 2023, respectively. Recognized trust fund income (realized and
unrealized) related to our cemetery perpetual care trust investments was $48.8 million and $43.4 million for the six months ended June 30, 2024 and 2023, respectively.
Deferred Revenue, Net
Deferred revenue, net represents future revenue, including distributed trust investment earnings associated with unperformed trust-funded preneed contracts that are not held in trust accounts. Future revenue and net trust investment earnings that are held in trust accounts are included in Deferred receipts held in trust.
The components of Deferred revenue, net in our unaudited Condensed Consolidated Balance Sheet were as follows:
June 30, 2024December 31, 2023
 (In thousands)
Deferred revenue$2,713,648 $2,649,397 
Amounts due from customers for unfulfilled performance obligations on cancelable preneed contracts(1,001,667)(945,888)
Deferred revenue, net$1,711,981 $1,703,509 
The following table summarizes the activity for our contract liabilities, which are reflected in Deferred revenue, net and Deferred receipts held in trust:
Six months ended June 30,
20242023
 (In thousands)
Beginning balance — Deferred revenue, net and Deferred receipts held in trust
$6,374,393 $5,787,548 
Net preneed contract sales723,286 734,179 
Acquisitions (dispositions) of businesses, net14,955 (1,551)
Net investment gains(1)
213,412 333,249 
Recognized revenue from backlog(2)
(317,427)(321,824)
Recognized revenue from current period sales(294,186)(305,441)
Change in amounts due on unfulfilled performance obligations(53,861)(61,154)
Change in cancellation reserve(223)(177)
Effect of foreign currency and other(8,690)(5,352)
Ending balance — Deferred revenue, net and Deferred receipts held in trust
$6,651,659 $6,159,477 
(1)Includes both realized and unrealized investment gains (losses)
(2)Includes current year trust fund income through the date of performance
  
Deferred Preneed Funeral Revenues [Table Text Block]  
The following table summarizes the activity for our contract liabilities, which are reflected in Deferred revenue, net and Deferred receipts held in trust:
Six months ended June 30,
20242023
 (In thousands)
Beginning balance — Deferred revenue, net and Deferred receipts held in trust
$6,374,393 $5,787,548 
Net preneed contract sales723,286 734,179 
Acquisitions (dispositions) of businesses, net14,955 (1,551)
Net investment gains(1)
213,412 333,249 
Recognized revenue from backlog(2)
(317,427)(321,824)
Recognized revenue from current period sales(294,186)(305,441)
Change in amounts due on unfulfilled performance obligations(53,861)(61,154)
Change in cancellation reserve(223)(177)
Effect of foreign currency and other(8,690)(5,352)
Ending balance — Deferred revenue, net and Deferred receipts held in trust
$6,651,659 $6,159,477 
(1)Includes both realized and unrealized investment gains (losses)
(2)Includes current year trust fund income through the date of performance
  
Accounts Receivable, after Allowance for Credit Loss, Noncurrent   $ 1,526,962 $ 1,513,933
Assets Held-in-trust   6,745,118 6,394,796
Insurance-backed fixed income securities and other [Line Items]   237,807 222,424
Cemetery perpetual care trust investments   $ (2,039,659) $ (1,939,241)
Investments Classified by Contractual Maturity Date [Table Text Block]  
Maturity dates of our fixed income securities range from 2024 to 2040. Maturities of fixed income securities (excluding mutual and commingled funds) at June 30, 2024 are estimated as follows:
 Fair Value
 (In thousands)
Due in one year or less$49,573 
Due in one to five years28,421 
Due in five to ten years6,009 
Thereafter86 
Total estimated maturities of fixed income securities$84,089