Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Disclosure [Text Block]

Goodwill and Intangible Assets

The changes in the carrying amounts of goodwill for our funeral and cemetery reporting units are as follows:

	Years Ended December 31,
	2024						2023
	Funeral		Cemetery		Total		Funeral		Cemetery		Total
	(In thousands)
Beginning balance — Goodwill	$	1,618,370	$	358,816	$	1,977,186	$	1,603,600	$	341,988	$	1,945,588
Increase in goodwill related to acquisitions	75,734		37,167		112,901		13,994		17,053		31,047
Reduction of goodwill related to divestitures (1)	(996)		—		(996)		(1,502)		(225)		(1,727)
Effect of foreign currency	(8,075)		(1)		(8,076)		2,278		—		2,278
Total activity	66,663		37,166		103,829		14,770		16,828		31,598
Ending balance — Goodwill	$	1,685,033	$	395,982	$	2,081,015	$	1,618,370	$	358,816	$	1,977,186

(1) Also includes reductions for businesses held for sale.

The components of intangible assets at December 31 were as follows:

	Useful Life
	Minimum		Maximum	2024		2023
	(Years)			(In thousands)
Amortizing intangibles:
Covenants-not-to-compete	1	-	15	$	226,292	$	222,930
Customer relationships	10	-	20	136,675		137,130
Tradenames	5	-	89	7,000		7,000
Other	5	-	89	26,927		26,927
				396,894		393,987
Less accumulated amortization:
Covenants-not-to-compete				208,589		207,301
Customer relationships				94,087		88,929
Tradenames				516		437
Other				11,764		11,025
				314,956		307,692
Amortizing intangibles, net				81,938		86,295
Non-amortizing intangibles:
Tradenames			Indefinite	419,679		388,049
Other			Indefinite	10,765		10,765
Non-amortizing intangibles				430,444		398,814
Intangible assets, net — included in Deferred charges and other assets, net				$	512,382	$	485,109

As part of our recoverability testing process during 2024, we reported $3.7 million of impairment on tradenames. Amortization expense for intangible assets was $17.2 million, $18.7 million, and $18.4 million for the years ended December 31, 2024, 2023, and 2022, respectively. The following is estimated amortization expense, excluding certain intangibles for which we are unable to provide an estimate because they are amortized based on specific identification in the fulfillment of performance obligations on our preneed contracts, for the five years subsequent to December 31, 2024 (in thousands):

2025	$	6,727
2026	5,285
2027	3,118
2028	2,526
2029	2,455
Total estimated amortization expense	$	20,111