Document_and_Entity_Informatio
Document and Entity Information Document | 3 Months Ended | |
Mar. 31, 2014 | Apr. 23, 2014 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'Service Corporation International | ' |
Entity Central Index Key | '0000089089 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 212,532,818 |
Unaudited_Condensed_Consolidat
Unaudited Condensed Consolidated Statement of Operations Statement (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenues | $747,123 | $652,352 |
Costs and expenses | -580,741 | -492,695 |
Gross profits | 166,382 | 159,657 |
General and administrative expenses | -56,010 | -30,923 |
Losses on divestitures and impairment charges, net | -2,812 | -969 |
Operating income | 107,560 | 127,765 |
Interest expense | -44,996 | -32,769 |
Other income (expense), net | 1,534 | -984 |
Income before income taxes | 64,098 | 94,012 |
Provision for income taxes | -22,707 | -35,290 |
Net income | 41,391 | 58,722 |
Net income attributable to noncontrolling interests | -289 | -1,102 |
Net income attributable to common stockholders | $41,102 | $57,620 |
Basic earnings per share: | ' | ' |
Net income attributable to common stockholders | $0.19 | $0.27 |
Basic weighted average number of shares | 212,838 | 211,380 |
Diluted earnings per share: | ' | ' |
Net income attributable to common stockholders | $0.19 | $0.27 |
Diluted weighted average number of shares | 217,231 | 215,208 |
Dividends declared per share | $0.08 | $0.06 |
Unaudited_Condensed_Consolidat1
Unaudited Condensed Consolidated Statement of Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net income | $41,391 | $58,722 |
Other comprehensive income: | ' | ' |
Foreign currency translation adjustments | -11,200 | -5,516 |
Total comprehensive income | 30,191 | 53,206 |
Total comprehensive income attributable to noncontrolling interests | -315 | -1,098 |
Total comprehensive income attributable to common stockholders | $29,876 | $52,108 |
Unaudited_Condensed_Consolidat2
Unaudited Condensed Consolidated Balance Sheet Statement (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $148,619 | $144,873 |
Receivables, net | 105,813 | 105,899 |
Deferred tax assets | 39,476 | 39,074 |
Inventories, net | 34,508 | 34,668 |
Current assets held for sale | 5,740 | 4,569 |
Other | 41,848 | 65,524 |
Total current assets | 376,004 | 394,607 |
Preneed funeral receivables, net and trust investments | 1,871,539 | 1,870,874 |
Preneed cemetery receivables, net and trust investments | 2,301,633 | 2,300,911 |
Cemetery property, at cost | 1,721,446 | 1,747,125 |
Property and equipment, net | 1,887,019 | 1,920,868 |
Non-current assets held for sale | 795,001 | 746,474 |
Goodwill, net | 1,978,621 | 1,968,235 |
Deferred charges and other assets | 631,759 | 632,088 |
Cemetery perpetual care trust investments | 1,342,589 | 1,347,622 |
Total assets | 12,905,611 | 12,928,804 |
Current liabilities: | ' | ' |
Accounts payable and accrued liabilities | 477,368 | 486,648 |
Current maturities of long-term debt | 105,705 | 176,362 |
Current liabilities held for sale | 4,850 | 3,183 |
Income taxes | 3,301 | 6,391 |
Total current liabilities | 591,224 | 672,584 |
Long-term debt | 3,133,925 | 3,125,548 |
Deferred preneed funeral revenues | 672,631 | 686,160 |
Deferred preneed cemetery revenues | 986,538 | 974,757 |
Deferred tax liability | 586,991 | 581,440 |
Non-current liabilities held for sale | 504,423 | 437,084 |
Other liabilities | 404,693 | 430,393 |
Deferred preneed funeral and cemetery receipts held in trust | 3,245,629 | 3,250,586 |
Care trusts’ corpus | 1,340,361 | 1,345,874 |
Commitments and contingencies (Note 15) | ' | ' |
Stockholders' Equity: | ' | ' |
Common stock, $1 per share par value, 500,000,000 shares authorized, 213,605,552 and 212,326,642 shares issued, respectively, and 213,531,666 and 212,316,642 shares outstanding, respectively | 213,532 | 212,317 |
Capital in excess of par value | 1,251,573 | 1,259,348 |
Accumulated deficit | -105,893 | -145,876 |
Accumulated other comprehensive income | 77,215 | 88,441 |
Total common stockholders’ equity | 1,436,427 | 1,414,230 |
Noncontrolling interests | 2,769 | 10,148 |
Total equity | 1,439,196 | 1,424,378 |
Total liabilities and equity | 12,905,611 | 12,928,804 |
Cemetery Perpetual Care [Member] | ' | ' |
Current assets: | ' | ' |
Cemetery perpetual care trust investments | 1,342,589 | 1,347,622 |
Current liabilities: | ' | ' |
Care trusts’ corpus | $1,340,361 | $1,345,874 |
Unaudited_Condensed_Consolidat3
Unaudited Condensed Consolidated Balance Sheet (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Common stock, par value | $1 | $1 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 213,605,552 | 212,326,642 |
Common stock, shares outstanding | 213,531,666 | 212,316,642 |
Unaudited_Condensed_Consolidat4
Unaudited Condensed Consolidated Statement of Cash Flows Statement (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $41,391 | $58,722 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 36,120 | 30,447 |
Amortization of intangible assets | 10,080 | 5,808 |
Amortization of cemetery property | 11,339 | 8,975 |
Amortization of loan costs | 1,844 | 1,235 |
Provision for doubtful accounts | 2,155 | 1,720 |
Provision for deferred income taxes | 10,124 | 26,134 |
Losses on divestitures and impairment charges, net | 2,812 | 969 |
Share-based compensation | 3,130 | 2,830 |
Excess tax benefits from share based awards | -6,744 | -772 |
Change in assets and liabilities, net of effects from acquisitions and divestitures: | ' | ' |
(Increase) decrease in receivables | -3,761 | 5,962 |
Increase in other assets | -931 | -5,882 |
Increase in payables and other liabilities | 5,966 | 12,215 |
Effect of preneed funeral production and maturities: | ' | ' |
Decrease in preneed funeral receivables, net and trust investments | 12,852 | 13,738 |
Decrease in deferred preneed funeral revenue | -531 | -4,000 |
Decrease in deferred preneed funeral receipts held in trust | -14,768 | -14,176 |
Effect of cemetery production and deliveries: | ' | ' |
Decrease (increase) in preneed cemetery receivables, net and trust investments | 2,160 | -6,359 |
Increase in deferred preneed cemetery revenue | 19,421 | 15,912 |
Decrease in deferred preneed cemetery receipts held in trust | -6,262 | -3,419 |
Other | 1,490 | 1,065 |
Net cash provided by operating activities | 127,887 | 151,124 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -25,222 | -22,569 |
Acquisitions | -779 | 0 |
Proceeds from divestitures and sales of property and equipment | 2,639 | 1,816 |
Net (deposits) withdrawals of restricted funds and other | -12,225 | 339 |
Net cash used in investing activities | -35,587 | -20,414 |
Cash flows from financing activities: | ' | ' |
Proceeds from issuance of long-term debt | 110,000 | 0 |
Payments of debt | -7,579 | -4,948 |
Principal payments on capital leases | -7,231 | -6,468 |
Proceeds from exercise of stock options | 7,915 | 3,094 |
Early extinguishment of debt | -167,093 | 0 |
Excess tax benefits from share based awards | 6,744 | 772 |
Purchase of Company common stock | -1,053 | -1,708 |
Payments of dividends | -17,080 | -12,698 |
Purchase of noncontrolling interest | -15,000 | -8,333 |
Bank overdrafts and other | 3,762 | -4,004 |
Net cash used in financing activities | -86,615 | -34,293 |
Effect of foreign currency on cash and cash equivalents | -1,939 | -579 |
Net increase in cash and cash equivalents | 3,746 | 95,838 |
Cash and cash equivalents at beginning of period | 144,873 | 92,708 |
Cash and cash equivalents at end of period | $148,619 | $188,546 |
Unaudited_Condensed_Consolidat5
Unaudited Condensed Consolidated Statement of Equity Statement (USD $) | Total | Common Stock | Treasury Stock | Capital in Excess of Par Value | Accumulated Deficit | Accumulated Other Comprehensive Income | Noncontrolling Interests |
In Thousands, unless otherwise specified | |||||||
Balance at beginning of period at Dec. 31, 2012 | $1,362,827 | $211,057 | ($10) | $1,307,058 | ($286,795) | $111,717 | $19,800 |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income | 53,206 | 0 | 0 | 0 | 57,620 | -5,512 | 1,098 |
Dividends declared on common stock | -12,698 | 0 | 0 | -12,698 | 0 | 0 | 0 |
Employee share-based compensation earned | 2,830 | 0 | 0 | 2,830 | 0 | 0 | 0 |
Stock option exercises | 3,094 | 350 | 0 | 2,744 | 0 | 0 | 0 |
Tax Benefits Related to Share-Based Awards | 772 | 0 | 0 | 772 | 0 | 0 | 0 |
Restricted stock awards, net of forfeitures | 0 | 378 | -3 | -375 | 0 | 0 | 0 |
Purchase of Company common stock | -1,708 | 0 | -109 | -676 | -923 | 0 | 0 |
Purchase of noncontrolling interest | -8,333 | 0 | 0 | -1,696 | 0 | 0 | -6,637 |
Noncontrolling interest payment | -900 | 0 | 0 | 0 | 0 | 0 | -900 |
Other | -9 | 1 | 0 | -10 | 0 | 0 | 0 |
Balance at end of period at Mar. 31, 2013 | 1,399,081 | 211,786 | -122 | 1,297,949 | -230,098 | 106,205 | 13,361 |
Balance at beginning of period at Dec. 31, 2013 | 1,424,378 | 212,327 | -10 | 1,259,348 | -145,876 | 88,441 | 10,148 |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income | 30,191 | 0 | 0 | 0 | 41,102 | -11,226 | 315 |
Dividends declared on common stock | -17,080 | 0 | 0 | -17,080 | 0 | 0 | 0 |
Employee share-based compensation earned | 3,130 | 0 | 0 | 3,130 | 0 | 0 | 0 |
Stock option exercises | 8,676 | 964 | 0 | 7,712 | 0 | 0 | 0 |
Tax Benefits Related to Share-Based Awards | 6,743 | 0 | 0 | 6,743 | 0 | 0 | 0 |
Restricted stock awards, net of forfeitures | 0 | 344 | 0 | -344 | 0 | 0 | 0 |
Purchase of Company common stock | -1,814 | 0 | -106 | -589 | -1,119 | 0 | 0 |
Purchase of noncontrolling interest | -15,000 | 0 | 0 | -7,441 | 0 | 0 | -7,559 |
Noncontrolling interest payment | -135 | 0 | 0 | 0 | 0 | 0 | -135 |
Retirement of treasury shares | 0 | -42 | -42 | 0 | 0 | 0 | 0 |
Other | 107 | 13 | 0 | 94 | 0 | 0 | 0 |
Balance at end of period at Mar. 31, 2014 | $1,439,196 | $213,606 | ($74) | $1,251,573 | ($105,893) | $77,215 | $2,769 |
Unaudited_Condensed_Consolidat6
Unaudited Condensed Consolidated Statement of Equity (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Dividends declared per share | $0.08 | $0.06 |
Nature_of_Operations_Notes
Nature of Operations (Notes) | 3 Months Ended |
Mar. 31, 2014 | |
Nature of Operations [Abstract] | ' |
Nature of Operations [Text Block] | ' |
Nature of Operations | |
We are North America’s largest provider of deathcare products and services, with a network of funeral service locations and cemeteries primarily operating in the United States and Canada. Our operations consist of funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and related businesses. | |
Funeral service locations provide all professional services relating to funerals and cremations, including the use of funeral facilities and motor vehicles and preparation and embalming services. Funeral-related merchandise, including caskets, casket memorialization products, burial vaults, cremation receptacles, cremation memorial products, flowers, and other ancillary products and services, is sold at funeral service locations. Cemeteries provide cemetery property interment rights, including developed lots, lawn crypts, and mausoleum spaces and sell cemetery-related merchandise and services, including stone and bronze memorials, markers, merchandise installations, and burial openings and closings. We also sell preneed funeral and cemetery merchandise and services whereby a customer contractually agrees to the terms of certain merchandise and services to be provided in the future. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Notes) | 3 Months Ended |
Mar. 31, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Significant Accounting Policies [Text Block] | ' |
Summary of Significant Accounting Policies | |
Principles of Consolidation and Basis of Presentation | |
Our unaudited condensed consolidated financial statements include the accounts of Service Corporation International (SCI) and all subsidiaries in which we hold a controlling financial interest. Our financial statements also include the accounts of the funeral merchandise and service trusts, cemetery merchandise and service trusts, and cemetery perpetual care trusts in which we have a variable interest and are the primary beneficiary. Our interim condensed consolidated financial statements are unaudited but include all adjustments, consisting of normal recurring accruals and any other adjustments, which management considers necessary for a fair statement of our results for these periods. Our unaudited condensed consolidated financial statements have been prepared in a manner consistent with the accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2013, unless otherwise disclosed herein, and should be read in conjunction therewith. The accompanying year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year period. | |
Reclassifications | |
Certain reclassifications have been made to prior period amounts to conform to the current period financial statement presentation with no effect on our previously reported results of operations, consolidated financial position, or cash flows. In this filing we revised our consolidated balance sheet as of December 31, 2013 to reclassify $30.0 million from Long-term debt to Current maturities of long-term debt. The original misclassification relates to amounts payable in 2014 for our Term Loan due July 2018. Our previously issued December 31, 2013 financial statements are not materially misstated by this misclassification. | |
Use of Estimates in the Preparation of Financial Statements | |
The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions as described in our Annual Report on Form 10-K for the year ended December 31, 2013. These estimates and assumptions may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. As a result, actual results could differ from these estimates. | |
Preneed Funeral and Cemetery Receivables | |
We sell preneed funeral and cemetery contracts whereby the customer enters into arrangements for future merchandise and services prior to the time of need. As these contracts are entered into prior to the delivery of the related goods and services, the preneed funeral and cemetery receivables are offset by a comparable deferred revenue amount. These receivables generally have an interest component for which interest income is recorded when the interest amount is considered collectible and realizable, which typically coincides with cash payment. We do not accrue interest on financing receivables that are not paid in accordance with the contractual payment date given the nature of our goods and services, the nature of our contracts with customers, and the timing of the delivery of our services. We do not consider receivables to be past due until the service or goods are required to be delivered at which time the preneed receivable is paid or reclassified as a trade receivable with payment terms of less than 30 days. As the preneed funeral and cemetery receivables are offset by comparable deferred revenue amounts, we have no risk of loss related to these receivables. | |
If a preneed contract is canceled prior to delivery, state or provincial law governs the amount of the refund owed to the customer, if any, including the amount of the attributed investment earnings. Upon cancellation, we receive the amount of principal deposited to the trust and previously undistributed net investment earnings and, where required, issue a refund to the customer. We retain excess funds, if any, and recognize the attributed investment earnings (net of any investment earnings payable to the customer) as revenue in the consolidated statement of operations. In certain jurisdictions, we may be obligated to fund any shortfall if the amount deposited by the customers exceed the funds in trust. Based on our historical experience, we have provided an allowance for cancellation of these receivables, which is recorded as a reduction in receivables with a corresponding offset to deferred revenue. | |
Income Taxes | |
In July 2013, the Financial Accounting Standards Board (FASB) amended the Income Taxes Topic of the Accounting Standards Codification (ASC) to eliminate a diversity in practice for the presentation of unrecognized tax benefits when net operating loss carryforwards, similar tax losses, or tax credit carryforwards exist. The amendment requires that the unrecognized tax benefit be presented as a reduction of the deferred tax assets associated with the carryforwards except in certain circumstances when it would be reflected as a liability. We adopted this amendment effective January 1, 2014 with no impact on our consolidated results of operations, consolidated financial position, or cash flows. | |
Foreign Currency | |
In March 2013, the FASB amended the Foreign Currency Matters Topic of the ASC to clarify the appropriate accounting when a parent ceases to have a controlling interest in a subsidiary or group of assets that is a business within a foreign entity. This clarification provides that the cumulative translation adjustment should only be released into net income if the loss of controlling interest represents complete or substantially complete liquidation of the foreign entity in which the subsidiary or asset group had resided. We adopted this amendment effective January 1, 2014 with no impact on our consolidated results of operations, consolidated financial position, or cash flows. |
Recently_Issued_Accounting_Sta
Recently Issued Accounting Standards (Notes) | 3 Months Ended |
Mar. 31, 2014 | |
Recently Issued Accounting Standards [Abstract] | ' |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | ' |
Recently Issued Accounting Standards | |
Discontinued Operations | |
In April 2014, the FASB amended the Presentation of Financial Statements and Property, Plant and Equipment Topics of the ASC to change the requirement for reporting discontinued operations. Under the new guidance, a disposal of a component of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Fewer disposals are expected to qualify as discontinued operations under the new guidance. It also requires the disclosure of pretax income of disposals that do not qualify as discontinued operations. The new guidance is effective for us with disposals that occur after January 1, 2015. |
Preneed_Funeral_Activities_Not
Preneed Funeral Activities (Notes) (Funeral [Member]) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Funeral [Member] | ' | |||||||||||||||||||||||
Preneed Funeral Activities Text Block | ' | |||||||||||||||||||||||
Preneed Funeral Activities | ||||||||||||||||||||||||
Preneed funeral receivables, net and trust investments represent trust investments, including investment earnings, and customer receivables, net of unearned finance charges, related to unperformed, price-guaranteed preneed funeral contracts. Our funeral merchandise and service trusts are variable interest entities as defined in the Consolidation Topic of the ASC. In accordance with this guidance, we have determined that we are the primary beneficiary of these trusts, as we absorb a majority of the losses and returns associated with these trusts. Our cemetery trust investments detailed in Notes 5 and 6 are also accounted for as variable interest entities. When we receive payments from the customer, we deposit the amount required by law into the trust and reclassify the corresponding amount from Deferred preneed funeral revenues into Deferred preneed funeral and cemetery receipts held in trust. Amounts are withdrawn from the trusts after the contract obligations are performed. Cash flows from preneed funeral contracts are presented as operating cash flows in our unaudited condensed consolidated statement of cash flows. | ||||||||||||||||||||||||
Preneed funeral receivables, net and trust investments are reduced by the trust investment earnings (realized and unrealized) that we have been allowed to withdraw in certain states prior to maturity. These earnings are recorded in Deferred preneed funeral revenues until the service is performed or the merchandise is delivered. | ||||||||||||||||||||||||
The table below sets forth certain investment-related activities associated with our preneed funeral merchandise and service trusts: | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Deposits | $ | 27,923 | $ | 22,199 | ||||||||||||||||||||
Withdrawals | 43,737 | 32,705 | ||||||||||||||||||||||
Purchases of available-for-sale securities | 61,485 | 60,979 | ||||||||||||||||||||||
Sales of available-for-sale securities | 64,051 | 96,704 | ||||||||||||||||||||||
Realized gains from sales of available-for-sale securities | 16,101 | 11,371 | ||||||||||||||||||||||
Realized losses from sales of available-for-sale securities | (1,474 | ) | (1,721 | ) | ||||||||||||||||||||
The components of Preneed funeral receivables, net and trust investments in our unaudited condensed consolidated balance sheet at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Trust investments, at fair value | $ | 1,415,235 | $ | 1,422,942 | ||||||||||||||||||||
Cash and cash equivalents | 132,471 | 128,216 | ||||||||||||||||||||||
Assets associated with businesses held for sale | (159,808 | ) | (163,436 | ) | ||||||||||||||||||||
Insurance-backed fixed income securities | 279,236 | 280,969 | ||||||||||||||||||||||
Trust investments | 1,667,134 | 1,668,691 | ||||||||||||||||||||||
Receivables from customers | 255,606 | 254,294 | ||||||||||||||||||||||
Unearned finance charge | (6,826 | ) | (6,772 | ) | ||||||||||||||||||||
1,915,914 | 1,916,213 | |||||||||||||||||||||||
Allowance for cancellation | (44,375 | ) | (45,339 | ) | ||||||||||||||||||||
Preneed funeral receivables, net and trust investments | $ | 1,871,539 | $ | 1,870,874 | ||||||||||||||||||||
The cost and fair values associated with our funeral merchandise and service trust investments recorded at fair value at March 31, 2014 and December 31, 2013 are detailed below. Cost reflects the investment (net of redemptions) of control holders in common trust funds, mutual funds, and private equity investments. Fair value represents the market value of the underlying securities held by the common trust funds, mutual funds at published values, and the estimated fair value of private equity investments (including debt as well as the estimated fair value related to the contract holder’s equity in majority-owned real estate investments). | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 99,924 | $ | 1,435 | $ | (4,221 | ) | $ | 97,138 | ||||||||||||||
Canadian government | 2 | 94,793 | 151 | (1,066 | ) | 93,878 | ||||||||||||||||||
Corporate | 2 | 56,892 | 3,965 | (361 | ) | 60,496 | ||||||||||||||||||
Residential mortgage-backed | 2 | 2,424 | 26 | (33 | ) | 2,417 | ||||||||||||||||||
Asset-backed | 2 | 3,358 | 65 | — | 3,423 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 29,322 | 1,921 | (45 | ) | 31,198 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 369,338 | 75,887 | (6,397 | ) | 438,828 | ||||||||||||||||||
Canada | 1 | 25,182 | 4,721 | (970 | ) | 28,933 | ||||||||||||||||||
Other international | 1 | 34,811 | 4,904 | (480 | ) | 39,235 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 262,636 | 23,887 | (2,132 | ) | 284,391 | ||||||||||||||||||
Fixed income | 1 | 313,960 | 5,785 | (15,800 | ) | 303,945 | ||||||||||||||||||
Private equity | 3 | 32,568 | 3,069 | (8,123 | ) | 27,514 | ||||||||||||||||||
Other | 3 | 3,455 | 384 | — | 3,839 | |||||||||||||||||||
Trust investments | $ | 1,328,663 | $ | 126,200 | $ | (39,628 | ) | $ | 1,415,235 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 110,511 | $ | 1,299 | $ | (5,599 | ) | $ | 106,211 | ||||||||||||||
Canadian government | 2 | 100,263 | 81 | (1,113 | ) | 99,231 | ||||||||||||||||||
Corporate | 2 | 64,042 | 3,515 | (691 | ) | 66,866 | ||||||||||||||||||
Residential mortgage-backed | 2 | 2,408 | 23 | (33 | ) | 2,398 | ||||||||||||||||||
Asset-backed | 2 | 3,366 | — | (10 | ) | 3,356 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 30,107 | 754 | (235 | ) | 30,626 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 364,721 | 77,963 | (2,928 | ) | 439,756 | ||||||||||||||||||
Canada | 1 | 27,634 | 4,346 | (1,216 | ) | 30,764 | ||||||||||||||||||
Other international | 1 | 35,519 | 4,986 | (199 | ) | 40,306 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 257,256 | 22,530 | (2,303 | ) | 277,483 | ||||||||||||||||||
Fixed income | 1 | 313,606 | 3,228 | (19,577 | ) | 297,257 | ||||||||||||||||||
Private equity | 3 | 32,909 | 2,702 | (8,726 | ) | 26,885 | ||||||||||||||||||
Other | 3 | 1,545 | 291 | (33 | ) | 1,803 | ||||||||||||||||||
Trust investments | $ | 1,343,887 | $ | 121,718 | $ | (42,663 | ) | $ | 1,422,942 | |||||||||||||||
Where quoted prices are available in an active market, securities held by the common trust funds and mutual funds are classified as Level 1 investments pursuant to the three-level valuation hierarchy as required by the Fair Value Measurements and Disclosure (FVM&D) Topic of the ASC. | ||||||||||||||||||||||||
Where quoted market prices are not available for the specific security, fair values are estimated by using either quoted prices of securities with similar characteristics or an income approach fair value model with observable inputs that include a combination of interest rates, yield curves, credit risks, prepayment speeds, rating, and tax-exempt status. These funds are classified as Level 2 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | ||||||||||||||||||||||||
The valuation of private equity and other alternative investments requires management judgment due to the absence of quoted market prices, inherent lack of liquidity, and the long-term nature of such assets. The fair value of these investments is estimated based on the market value of the underlying real estate and private equity investments. The underlying real estate value is determined using the most recent available appraisals. Private equity instruments are valued based on reported net asset values discounted by 0% to 20% for risk and 0% to 10% for liquidity. A significant increase (decrease) in the discounts results in a directionally opposite change in the fair value of the instruments. Valuation policies and procedures are determined by our Trust Services department, which reports to our Chief Financial Officer. Additionally, valuations are reviewed by our investment committee quarterly. These funds are classified as Level 3 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | ||||||||||||||||||||||||
As of March 31, 2014, our unfunded commitment for our private equity and other investments was $7.5 million which, if called, would be funded by the assets of the trusts. Our private equity and other investments include several funds that invest in limited partnerships, distressed debt, real estate, and mezzanine financing. These investments can never be redeemed by the funds. Instead, the nature of the investments in this category is that the distributions are received through the liquidation of the underlying assets of the funds. We estimate that the underlying assets will be liquidated over the next 2 to 10 years. | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | |||||||||||||||||||||||
Private Equity | Other | Private Equity | Other | |||||||||||||||||||||
Fair value, beginning balance | $ | 26,885 | $ | 1,803 | $ | 17,879 | $ | 744 | ||||||||||||||||
Net unrealized gains (losses) included in Accumulated other comprehensive income(1) | (470 | ) | 2,036 | 10,850 | 509 | |||||||||||||||||||
Net realized losses included in Other income (expense), net(2) | (8 | ) | — | (5 | ) | (1 | ) | |||||||||||||||||
Purchases | 1,887 | — | — | — | ||||||||||||||||||||
Contributions | 467 | — | 637 | — | ||||||||||||||||||||
Distributions | (1,247 | ) | — | (3,630 | ) | — | ||||||||||||||||||
Fair value, ending balance | $ | 27,514 | $ | 3,839 | $ | 25,731 | $ | 1,252 | ||||||||||||||||
-1 | All unrealized gains (losses) recognized in Accumulated other comprehensive income for our funeral merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Accumulated other comprehensive income to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. | |||||||||||||||||||||||
-2 | All losses recognized in Other income (expense), net for our funeral merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Other income (expense), net to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. | |||||||||||||||||||||||
Maturity dates of our fixed income securities range from 2014 to 2043. Maturities of fixed income securities, excluding mutual funds, at March 31, 2014 are estimated as follows: | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Due in one year or less | $ | 132,873 | ||||||||||||||||||||||
Due in one to five years | 54,732 | |||||||||||||||||||||||
Due in five to ten years | 40,276 | |||||||||||||||||||||||
Thereafter | 29,471 | |||||||||||||||||||||||
$ | 257,352 | |||||||||||||||||||||||
Earnings from all our funeral merchandise and service trust investments are recognized in funeral revenues when a service is performed or merchandise is delivered. Fees charged by our wholly-owned registered investment advisor are also included in current revenues in the period in which they are earned. In addition, we are entitled to retain, in certain jurisdictions, a portion of collected customer payments when a customer cancels a preneed contract; these amounts are also recognized in current revenues. Recognized trust fund income (realized and unrealized) related to these trust investments were $16.1 million and $12.3 million for the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||||||||||||||
We assess our trust investments for other-than-temporary declines in fair value on a quarterly basis. Impairment charges resulting from this assessment are recognized as investment losses in Other income (expense), net and a decrease to Preneed funeral receivables, net and trust investments. These investment losses, if any, are offset by the corresponding reclassification in Other income (expense), net, which reduces Deferred preneed funeral receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral receipts held in trust. For the three months ended March 31, 2014 and 2013, we recorded a $0.3 million and a $0.2 million impairment charge, respectively, for other-than-temporary declines in fair value related to unrealized losses on certain investments. | ||||||||||||||||||||||||
We have determined that the remaining unrealized losses in our funeral merchandise and service trust investments are considered temporary in nature, as the unrealized losses were due to temporary fluctuations in interest rates and equity prices. The investments are diversified across multiple industry segments using a balanced allocation strategy to minimize long-term risk. We believe that none of the remaining securities are other-than-temporarily impaired based on our analysis of the investments. Our analysis included a review of the portfolio holdings and discussions with the individual money managers as to the sector exposures, credit ratings and the severity and duration of the unrealized losses. Our funeral merchandise and service trust investment unrealized losses, their associated fair values, and the duration of unrealized losses as of March 31, 2014 and December 31, 2013, respectively, are shown in the following tables: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 22,414 | $ | (2,141 | ) | $ | 19,008 | $ | (2,080 | ) | $ | 41,422 | $ | (4,221 | ) | |||||||||
Canadian government | 4,831 | (44 | ) | 16,869 | (1,022 | ) | 21,700 | (1,066 | ) | |||||||||||||||
Corporate | 17,003 | (288 | ) | 1,182 | (73 | ) | 18,185 | (361 | ) | |||||||||||||||
Residential mortgage-backed | 1,250 | (24 | ) | 138 | (9 | ) | 1,388 | (33 | ) | |||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 1,395 | (45 | ) | — | — | 1,395 | (45 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 87,310 | (5,886 | ) | 2,539 | (511 | ) | 89,849 | (6,397 | ) | |||||||||||||||
Canada | 7,257 | (349 | ) | 1,720 | (621 | ) | 8,977 | (970 | ) | |||||||||||||||
Other international | 4,373 | (450 | ) | 307 | (30 | ) | 4,680 | (480 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 19,712 | (400 | ) | 12,319 | (1,732 | ) | 32,031 | (2,132 | ) | |||||||||||||||
Fixed income | 52,303 | (1,978 | ) | 54,279 | (13,822 | ) | 106,582 | (15,800 | ) | |||||||||||||||
Private equity | — | — | 13,265 | (8,123 | ) | 13,265 | (8,123 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 217,848 | $ | (11,605 | ) | $ | 121,626 | $ | (28,023 | ) | $ | 339,474 | $ | (39,628 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 28,693 | $ | (3,595 | ) | $ | 19,351 | $ | (2,004 | ) | $ | 48,044 | $ | (5,599 | ) | |||||||||
Canadian government | 9,546 | (120 | ) | 18,981 | (993 | ) | 28,527 | (1,113 | ) | |||||||||||||||
Corporate | 21,357 | (346 | ) | 5,654 | (345 | ) | 27,011 | (691 | ) | |||||||||||||||
Residential mortgage-backed | 1,381 | (25 | ) | 172 | (8 | ) | 1,553 | (33 | ) | |||||||||||||||
Asset-backed | 3,275 | (10 | ) | — | — | 3,275 | (10 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 14,028 | (235 | ) | — | — | 14,028 | (235 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 46,544 | (2,153 | ) | 3,327 | (775 | ) | 49,871 | (2,928 | ) | |||||||||||||||
Canada | 2,433 | (576 | ) | 1,992 | (641 | ) | 4,425 | (1,217 | ) | |||||||||||||||
Other international | 3,396 | (138 | ) | 369 | (60 | ) | 3,765 | (198 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 16,206 | (337 | ) | 12,456 | (1,966 | ) | 28,662 | (2,303 | ) | |||||||||||||||
Fixed income | 143,846 | (4,984 | ) | 38,217 | (14,593 | ) | 182,063 | (19,577 | ) | |||||||||||||||
Private equity | — | — | 13,002 | (8,726 | ) | 13,002 | (8,726 | ) | ||||||||||||||||
Other | — | — | 527 | (33 | ) | 527 | (33 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 290,705 | $ | (12,519 | ) | $ | 114,048 | $ | (30,144 | ) | $ | 404,753 | $ | (42,663 | ) | |||||||||
Preneed_Cemetery_Activities_No
Preneed Cemetery Activities (Notes) (Cemetery [Member]) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Cemetery [Member] | ' | |||||||||||||||||||||||
Preneed Cemetery Activities Text Block | ' | |||||||||||||||||||||||
Preneed Cemetery Activities | ||||||||||||||||||||||||
Preneed cemetery receivables, net and trust investments represent trust investments, including investment earnings, and customer receivables, net of unearned finance charges, for contracts sold in advance of when the property interment rights, merchandise, or services are needed. Our cemetery merchandise and service trusts are variable interest entities as defined in the Consolidation Topic of the ASC. In accordance with this guidance, we have determined that we are the primary beneficiary of these trusts, as we absorb a majority of the losses and returns associated with these trusts. The trust investments detailed in Notes 4 and 6 are also accounted for as variable interest entities. When we receive payments from the customer, we deposit the amount required by law into the trust and reclassify the corresponding amount from Deferred preneed cemetery revenues into Deferred preneed funeral and cemetery receipts held in trust. Amounts are withdrawn from the trusts when the contract obligations are performed. Cash flows from preneed cemetery contracts are presented as operating cash flows in our unaudited condensed consolidated statement of cash flows. | ||||||||||||||||||||||||
Preneed cemetery receivables, net and trust investments are reduced by the trust investment earnings (realized and unrealized) that we have been allowed to withdraw in certain states prior to maturity. These earnings are recorded in Deferred preneed cemetery revenues until the service is performed or the merchandise is delivered. | ||||||||||||||||||||||||
The table below sets forth certain investment-related activities associated with our preneed cemetery merchandise and service trusts: | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Deposits | $ | 28,271 | $ | 25,268 | ||||||||||||||||||||
Withdrawals | 34,348 | 29,881 | ||||||||||||||||||||||
Purchases of available-for-sale securities | 98,758 | 105,722 | ||||||||||||||||||||||
Sales of available-for-sale securities | 92,317 | 125,743 | ||||||||||||||||||||||
Realized gains from sales of available-for-sale securities | 25,532 | 16,576 | ||||||||||||||||||||||
Realized losses from sales of available-for-sale securities | (2,299 | ) | (2,170 | ) | ||||||||||||||||||||
The components of Preneed cemetery receivables, net and trust investments in our unaudited condensed consolidated balance sheet at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Trust investments, at fair value | $ | 1,551,178 | $ | 1,553,719 | ||||||||||||||||||||
Cash and cash equivalents | 144,265 | 138,459 | ||||||||||||||||||||||
Assets associated with businesses held for sale | (112,275 | ) | (107,481 | ) | ||||||||||||||||||||
Insurance-backed fixed income securities | 4 | 4 | ||||||||||||||||||||||
Trust investments | 1,583,172 | 1,584,701 | ||||||||||||||||||||||
Receivables from customers | 799,992 | 800,005 | ||||||||||||||||||||||
Unearned finance charges | (28,163 | ) | (27,873 | ) | ||||||||||||||||||||
2,355,001 | 2,356,833 | |||||||||||||||||||||||
Allowance for cancellation | (53,368 | ) | (55,922 | ) | ||||||||||||||||||||
Preneed cemetery receivables, net and trust investments | $ | 2,301,633 | $ | 2,300,911 | ||||||||||||||||||||
The cost and fair values associated with our cemetery merchandise and service trust investments recorded at fair value at March 31, 2014 and December 31, 2013 are detailed below. Cost reflects the investment (net of redemptions) of control holders in common trust funds, mutual funds, and private equity investments. Fair value represents the market value of the underlying securities held by the common trust funds, mutual funds at published values, and the estimated fair value of private equity investments. | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 95,784 | $ | 1,889 | $ | (6,555 | ) | $ | 91,118 | ||||||||||||||
Canadian government | 2 | 17,872 | 197 | (115 | ) | 17,954 | ||||||||||||||||||
Corporate | 2 | 45,148 | 6,188 | (401 | ) | 50,935 | ||||||||||||||||||
Residential mortgage-backed | 2 | 395 | 3 | (3 | ) | 395 | ||||||||||||||||||
Asset-backed | 2 | 3,317 | 81 | — | 3,398 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 14,871 | 1,216 | (45 | ) | 16,042 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 434,792 | 138,660 | (5,770 | ) | 567,682 | ||||||||||||||||||
Canada | 1 | 14,972 | 4,235 | (891 | ) | 18,316 | ||||||||||||||||||
Other international | 1 | 42,993 | 9,336 | (779 | ) | 51,550 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 333,407 | 51,731 | (1,485 | ) | 383,653 | ||||||||||||||||||
Fixed income | 1 | 341,016 | 7,690 | (27,343 | ) | 321,363 | ||||||||||||||||||
Private equity | 3 | 28,281 | 3,924 | (4,686 | ) | 27,519 | ||||||||||||||||||
Other | 3 | 1,043 | 216 | (6 | ) | 1,253 | ||||||||||||||||||
Trust investments | $ | 1,373,891 | $ | 225,366 | $ | (48,079 | ) | $ | 1,551,178 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 113,621 | $ | 1,714 | $ | (8,876 | ) | $ | 106,459 | ||||||||||||||
Canadian government | 2 | 17,073 | 170 | (261 | ) | 16,982 | ||||||||||||||||||
Corporate | 2 | 48,970 | 5,262 | (646 | ) | 53,586 | ||||||||||||||||||
Residential mortgage-backed | 2 | 408 | 2 | (2 | ) | 408 | ||||||||||||||||||
Asset-backed | 2 | 3,346 | — | (13 | ) | 3,333 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 16,708 | 1,106 | (123 | ) | 17,691 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 425,246 | 147,258 | (3,231 | ) | 569,273 | ||||||||||||||||||
Canada | 1 | 15,368 | 4,063 | (935 | ) | 18,496 | ||||||||||||||||||
Other international | 1 | 44,184 | 10,079 | (200 | ) | 54,063 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 327,084 | 49,428 | (1,704 | ) | 374,808 | ||||||||||||||||||
Fixed income | 1 | 338,944 | 5,236 | (33,649 | ) | 310,531 | ||||||||||||||||||
Private equity | 3 | 28,625 | 3,372 | (5,153 | ) | 26,844 | ||||||||||||||||||
Other | 3 | 1,078 | 200 | (33 | ) | 1,245 | ||||||||||||||||||
Trust investments | $ | 1,380,655 | $ | 227,890 | $ | (54,826 | ) | $ | 1,553,719 | |||||||||||||||
Where quoted prices are available in an active market, securities held by the common trust funds and mutual funds are classified as Level 1 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | ||||||||||||||||||||||||
Where quoted market prices are not available for the specific security, fair values are estimated by using either quoted prices of securities with similar characteristics or an income approach fair value model with observable inputs that include a combination of interest rates, yield curves, credit risks, prepayment speeds, rating, and tax-exempt status. These funds are classified as Level 2 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | ||||||||||||||||||||||||
The valuation of private equity and other alternative investments requires management judgment due to the absence of quoted market prices, inherent lack of liquidity, and the long-term nature of such assets. The fair value of these investments is estimated based on the market value of the underlying real estate and private equity investments. The underlying real estate value is determined using the most recent available appraisals. Private equity instruments are valued based on reported net asset values discounted by 0% to 20% for risk and 0% to 10% for liquidity. A significant increase (decrease) in the discounts results in a directionally opposite change in the fair value of the instruments. Valuation policies and procedures are determined by our Trust Services department, which reports to our Chief Financial Officer. Additionally, valuations are reviewed by our investment committee quarterly. These funds are classified as Level 3 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | ||||||||||||||||||||||||
As of March 31, 2014, our unfunded commitment for our private equity and other investments was $7.8 million which, if called, would be funded by the assets of the trusts. Our private equity and other investments include several funds that invest in limited partnerships, distressed debt, real estate, and mezzanine financing. These investments can never be redeemed by the funds. Instead, the nature of the investments in this category is that the distributions are received through the liquidation of the underlying assets of the funds. We estimate that the underlying assets will be liquidated over the next 2 to 10 years. | ||||||||||||||||||||||||
The change in our market-based cemetery merchandise and service trust investments with significant unobservable inputs (Level 3) is as follows (in thousands): | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
March 31, 2014 | 31-Mar-13 | |||||||||||||||||||||||
Private Equity | Other | Private Equity | Other | |||||||||||||||||||||
Fair value, beginning balance | $ | 26,844 | $ | 1,245 | $ | 17,687 | $ | 450 | ||||||||||||||||
Net unrealized gains included in Accumulated other comprehensive income(1) | 1,487 | 9 | 11,400 | 587 | ||||||||||||||||||||
Net realized losses included in Other income (expense), net(2) | (8 | ) | (1 | ) | (7 | ) | (2 | ) | ||||||||||||||||
Contributions | 499 | — | 662 | — | ||||||||||||||||||||
Distributions | (1,303 | ) | — | (3,785 | ) | — | ||||||||||||||||||
Fair value, ending balance | $ | 27,519 | $ | 1,253 | $ | 25,957 | $ | 1,035 | ||||||||||||||||
-1 | All unrealized gains (losses) recognized in Accumulated other comprehensive income for our cemetery merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Accumulated other comprehensive income to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. | |||||||||||||||||||||||
-2 | All losses recognized in Other income (expense), net for our cemetery merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Other income (expense), net to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. | |||||||||||||||||||||||
Maturity dates of our fixed income securities range from 2014 to 2043. Maturities of fixed income securities, excluding mutual funds, at March 31, 2014 are estimated as follows: | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Due in one year or less | $ | 8,842 | ||||||||||||||||||||||
Due in one to five years | 71,928 | |||||||||||||||||||||||
Due in five to ten years | 36,756 | |||||||||||||||||||||||
Thereafter | 46,274 | |||||||||||||||||||||||
$ | 163,800 | |||||||||||||||||||||||
Earnings from all our cemetery merchandise and service trust investments are recognized in current cemetery revenues when a service is performed or merchandise is delivered. Fees charged by our wholly-owned registered investment advisor are also included in current revenues in the period in which they are earned. In addition, we are entitled to retain, in certain jurisdictions, a portion of collected customer payments when a customer cancels a preneed contract; these amounts are also recognized in current revenues. Recognized trust fund income (realized and unrealized) related to these trust investments were $11.5 million and $9.2 million for the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||||||||||||||
We assess our trust investments for other-than-temporary declines in fair value on a quarterly basis. Impairment charges resulting from this assessment are recognized as investment losses in Other income (expense), net and a decrease to Preneed cemetery receivables, net and trust investments. These investment losses, if any, are offset by the corresponding reclassification in Other income (expense), net, which reduces Deferred preneed cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed cemetery receipts held in trust. For the three months ended March 31, 2014 and 2013, we recorded a $0.3 million and a $0.4 million impairment charge, respectively, for other-than-temporary declines in fair value related to unrealized losses on certain investments. | ||||||||||||||||||||||||
We have determined that the remaining unrealized losses in our cemetery merchandise and service trust investments are considered temporary in nature, as the unrealized losses were due to temporary fluctuations in interest rates and equity prices. The investments are diversified across multiple industry segments using a balanced allocation strategy to minimize long-term risk. We believe that none of the remaining securities are other-than-temporarily impaired based on our analysis of the investments. Our analysis included a review of the portfolio holdings and discussions with the individual money managers as to the sector exposures, credit ratings, and the severity and duration of the unrealized losses. Our cemetery merchandise and service trust investment unrealized losses, their associated fair values and the duration of unrealized losses as of March 31, 2014 are shown in the following tables: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 38,848 | $ | (4,286 | ) | $ | 19,559 | $ | (2,269 | ) | 58,407 | (6,555 | ) | |||||||||||
Canadian government | 11,259 | (82 | ) | 1,113 | (33 | ) | 12,372 | (115 | ) | |||||||||||||||
Corporate | 10,154 | (271 | ) | 2,718 | (130 | ) | 12,872 | (401 | ) | |||||||||||||||
Residential mortgage-backed | 169 | (3 | ) | 4 | — | 173 | (3 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2,260 | (45 | ) | — | — | 2,260 | (45 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 82,419 | (5,575 | ) | 2,909 | (195 | ) | 85,328 | (5,770 | ) | |||||||||||||||
Canada | 1,843 | (123 | ) | 2,395 | (768 | ) | 4,238 | (891 | ) | |||||||||||||||
Other international | 8,190 | (699 | ) | 625 | (80 | ) | 8,815 | (779 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 2,199 | (27 | ) | 14,643 | (1,458 | ) | 16,842 | (1,485 | ) | |||||||||||||||
Fixed income | 84,375 | (2,637 | ) | 69,182 | (24,706 | ) | 153,557 | (27,343 | ) | |||||||||||||||
Private equity | — | — | 6,707 | (4,686 | ) | 6,707 | (4,686 | ) | ||||||||||||||||
Other | — | — | 279 | (6 | ) | 279 | (6 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 241,716 | $ | (13,748 | ) | $ | 120,134 | $ | (34,331 | ) | $ | 361,850 | $ | (48,079 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 45,120 | $ | (6,040 | ) | $ | 25,043 | $ | (2,836 | ) | $ | 70,163 | $ | (8,876 | ) | |||||||||
Canadian government | 9,424 | (120 | ) | 3,066 | (141 | ) | 12,490 | (261 | ) | |||||||||||||||
Corporate | 15,050 | (424 | ) | 3,073 | (222 | ) | 18,123 | (646 | ) | |||||||||||||||
Residential mortgage-backed | 145 | (2 | ) | 2 | — | 147 | (2 | ) | ||||||||||||||||
Asset-backed | 3,257 | (13 | ) | — | — | 3,257 | (13 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 5,604 | (123 | ) | — | — | 5,604 | (123 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 46,317 | (2,648 | ) | 3,489 | (583 | ) | 49,806 | (3,231 | ) | |||||||||||||||
Canada | 1,569 | (502 | ) | 1,935 | (433 | ) | 3,504 | (935 | ) | |||||||||||||||
Other international | 4,344 | (124 | ) | 702 | (76 | ) | 5,046 | (200 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 3,858 | (54 | ) | 14,477 | (1,650 | ) | 18,335 | (1,704 | ) | |||||||||||||||
Fixed income | 134,669 | (5,527 | ) | 64,009 | (28,122 | ) | 198,678 | (33,649 | ) | |||||||||||||||
Private equity | — | — | 6,589 | (5,153 | ) | 6,589 | (5,153 | ) | ||||||||||||||||
Other | — | — | 282 | (33 | ) | 282 | (33 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 269,357 | $ | (15,577 | ) | $ | 122,667 | $ | (39,249 | ) | $ | 392,024 | $ | (54,826 | ) | |||||||||
Cemetery_Perpetual_Care_Trusts
Cemetery Perpetual Care Trusts (Notes) (Cemetery Perpetual Care [Member]) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Cemetery Perpetual Care [Member] | ' | |||||||||||||||||||||||
Cemetery Perpetual Care Trusts Text Block | ' | |||||||||||||||||||||||
Cemetery Perpetual Care Trusts | ||||||||||||||||||||||||
We are required by state and provincial law to pay into cemetery perpetual care trusts a portion of the proceeds from the sale of cemetery property interment rights. Our cemetery perpetual care trusts are variable interest entities as defined in the Consolidation Topic of the ASC. In accordance with this guidance, we have determined that we are the primary beneficiary of these trusts, as we absorb a majority of the losses and returns associated with these trusts. The merchandise and service trust investments detailed in Notes 4 and 5 are also accounted for as variable interest entities. We consolidate our cemetery perpetual care trust investments with a corresponding amount recorded as Care trusts’ corpus. Cash flows from cemetery perpetual care trusts are presented as operating cash flows in our unaudited condensed consolidated statement of cash flows. | ||||||||||||||||||||||||
The table below sets forth certain investment-related activities associated with our cemetery perpetual care trusts: | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Deposits | $ | 11,837 | $ | 8,228 | ||||||||||||||||||||
Withdrawals | 5,885 | 9,569 | ||||||||||||||||||||||
Purchases of available-for-sale securities | 38,895 | 35,052 | ||||||||||||||||||||||
Sales of available-for-sale securities | 30,072 | 27,490 | ||||||||||||||||||||||
Realized gains from sales of available-for-sale securities | 5,045 | 3,782 | ||||||||||||||||||||||
Realized losses from sales of available-for-sale securities | (337 | ) | (322 | ) | ||||||||||||||||||||
The components of Cemetery perpetual care trust investments in our unaudited condensed consolidated balance sheet at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Trust investments, at fair value | $ | 1,373,613 | $ | 1,352,539 | ||||||||||||||||||||
Cash and cash equivalents | 81,773 | 78,509 | ||||||||||||||||||||||
Assets associated with businesses held for sale | (112,797 | ) | (83,426 | ) | ||||||||||||||||||||
Cemetery perpetual care trust investments | $ | 1,342,589 | $ | 1,347,622 | ||||||||||||||||||||
The cost and fair values associated with our cemetery perpetual care trust investments recorded at fair value at March 31, 2014 and December 31, 2013 are detailed below. Cost reflects the investment (net of redemptions) of control holders in common trust funds, mutual funds, and private equity investments. Fair value represents the value of the underlying securities or cash held by the common trust funds, mutual funds at published values, and the estimated fair value of private equity investments. | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 1,675 | $ | 18 | $ | (11 | ) | $ | 1,682 | ||||||||||||||
Canadian government | 2 | 29,208 | 346 | (204 | ) | 29,350 | ||||||||||||||||||
Corporate | 2 | 41,561 | 733 | (309 | ) | 41,985 | ||||||||||||||||||
Residential mortgage-backed | 2 | 4,280 | 34 | (15 | ) | 4,299 | ||||||||||||||||||
Asset-backed | 2 | 3,001 | 67 | (4 | ) | 3,064 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 26,495 | 1,431 | (62 | ) | 27,864 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 232,619 | 54,271 | (2,301 | ) | 284,589 | ||||||||||||||||||
Canada | 1 | 8,446 | 2,389 | (579 | ) | 10,256 | ||||||||||||||||||
Other international | 1 | 21,341 | 1,863 | (166 | ) | 23,038 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 40,452 | 7,385 | (27 | ) | 47,810 | ||||||||||||||||||
Fixed income | 1 | 822,406 | 45,882 | (1,130 | ) | 867,158 | ||||||||||||||||||
Private equity | 3 | 29,074 | 485 | (8,753 | ) | 20,806 | ||||||||||||||||||
Other | 3 | 10,571 | 1,151 | (10 | ) | 11,712 | ||||||||||||||||||
Cemetery perpetual care trust investments | $ | 1,271,129 | $ | 116,055 | $ | (13,571 | ) | $ | 1,373,613 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 1,588 | $ | 9 | $ | (14 | ) | $ | 1,583 | ||||||||||||||
Canadian government | 2 | 28,487 | 301 | (459 | ) | 28,329 | ||||||||||||||||||
Corporate | 2 | 43,196 | 312 | (263 | ) | 43,245 | ||||||||||||||||||
Residential mortgage-backed | 2 | 4,258 | 14 | (19 | ) | 4,253 | ||||||||||||||||||
Asset-backed | 2 | 3,006 | 5 | (11 | ) | 3,000 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 25,952 | 192 | (252 | ) | 25,892 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 231,156 | 53,782 | (2,087 | ) | 282,851 | ||||||||||||||||||
Canada | 1 | 8,846 | 2,222 | (623 | ) | 10,445 | ||||||||||||||||||
Other international | 1 | 20,676 | 1,319 | (167 | ) | 21,828 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 41,282 | 5,693 | (35 | ) | 46,940 | ||||||||||||||||||
Fixed income | 1 | 819,439 | 35,963 | (2,598 | ) | 852,804 | ||||||||||||||||||
Private equity | 3 | 28,309 | 472 | (9,002 | ) | 19,779 | ||||||||||||||||||
Other | 3 | 10,521 | 1,153 | (84 | ) | 11,590 | ||||||||||||||||||
Cemetery perpetual care trust investments | $ | 1,266,716 | $ | 101,437 | $ | (15,614 | ) | $ | 1,352,539 | |||||||||||||||
Where quoted prices are available in an active market, securities held by the common trust funds and mutual funds are classified as Level 1 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | ||||||||||||||||||||||||
Where quoted market prices are not available for the specific security, fair values are estimated by using either quoted prices of securities with similar characteristics or an income approach fair value model with observable inputs that include a combination of interest rates, yield curves, credit risks, prepayment speeds, rating, and tax-exempt status. These funds are classified as Level 2 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | ||||||||||||||||||||||||
The valuation of private equity and other alternative investments requires management judgment due to the absence of quoted market prices, inherent lack of liquidity, and the long-term nature of such assets. The fair value of these investments is estimated based on the market value of the underlying real estate and private equity investments. The underlying real estate value is determined using the most recent available appraisals. Private equity instruments are valued based on reported net asset values discounted by 0% to 20% for risk and 0% to 10% for liquidity. A significant increase (decrease) in the discounts results in a directionally opposite change in the fair value of the instruments.Valuation policies and procedures are determined by our Trust Services department, which reports to our Chief Financial Officer. Additionally, valuations are reviewed by our investment committee quarterly. These funds are classified as Level 3 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | ||||||||||||||||||||||||
As of March 31, 2014, our unfunded commitment for our private equity and other investments was $0.7 million which, if called, would be funded by the assets of the trusts. Our private equity and other investments include several funds that invest in limited partnerships, distressed debt, real estate, and mezzanine financing. These investments can never be redeemed by the funds. Instead, the nature of the investments in this category is that the distributions are received through the liquidation of the underlying assets of the funds. We estimate that the underlying assets will be liquidated over the next 2 to 10 years. | ||||||||||||||||||||||||
The change in our market-based cemetery perpetual care trust investments with significant unobservable inputs (Level 3) is as follows (in thousands): | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | |||||||||||||||||||||||
Private Equity | Other | Private Equity | Other | |||||||||||||||||||||
Fair value, beginning balance | $ | 19,779 | $ | 11,590 | $ | 11,122 | $ | 7,659 | ||||||||||||||||
Net unrealized gains included in Accumulated other comprehensive income(1) | 727 | 128 | 6,069 | 2,729 | ||||||||||||||||||||
Net realized losses included in Other income (expense), net(2) | (12 | ) | (6 | ) | (82 | ) | (46 | ) | ||||||||||||||||
Sales | (17 | ) | — | — | — | |||||||||||||||||||
Contributions | 694 | — | 1 | — | ||||||||||||||||||||
Distributions | (365 | ) | — | (656 | ) | — | ||||||||||||||||||
Fair value, ending balance | $ | 20,806 | $ | 11,712 | $ | 16,454 | $ | 10,342 | ||||||||||||||||
-1 | All unrealized gains recognized in Accumulated other comprehensive income for our cemetery perpetual care trust investments are offset by a corresponding reclassification in Accumulated other comprehensive income to Care trusts’ corpus. See Note 7 for further information related to our Care trusts’ corpus. | |||||||||||||||||||||||
-2 | All losses recognized in Other income (expense), net for our cemetery perpetual care trust investments are offset by a corresponding reclassification in Other income (expense), net to Care trusts’ corpus. See Note 7 for further information related to our Care trusts’ corpus. | |||||||||||||||||||||||
Maturity dates of our fixed income securities range from 2014 to 2043. Maturities of fixed income securities at March 31, 2014 are estimated as follows: | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Due in one year or less | $ | 15,236 | ||||||||||||||||||||||
Due in one to five years | 35,515 | |||||||||||||||||||||||
Due in five to ten years | 24,753 | |||||||||||||||||||||||
Thereafter | 4,876 | |||||||||||||||||||||||
$ | 80,380 | |||||||||||||||||||||||
Distributable earnings from these cemetery perpetual care trust investments are recognized in current cemetery revenues to the extent we incur qualifying cemetery maintenance costs. Fees charged by our wholly-owned registered investment advisor are also included in current revenues in the period in which they are earned. Recognized trust fund income related to these trust investments were $13.3 million and $10.0 million for the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||||||||||||||
We assess our trust investments for other-than-temporary declines in fair value on a quarterly basis. Impairment charges resulting from this assessment are recognized as investment losses in Other income (expense), net and a decrease to Cemetery perpetual care trust investments. These investment losses, if any, are offset by the corresponding reclassification in Other income (expense), net, which reduces Care trusts’ corpus. See Note 7 for further information related to our Care trusts’ corpus. For the three months ended March 31, 2014 there was no impairment charge for other-than-temporary declines in fair value related to unrealized losses on certain investments. For the three months ended March 31, 2013, we recorded a $0.1 million impairment charge for other-than-temporary declines in fair value related to unrealized losses on certain investments. | ||||||||||||||||||||||||
We have determined that the remaining unrealized losses in our cemetery perpetual care trust investments are considered temporary in nature, as the unrealized losses were due to temporary fluctuations in interest rates and equity prices. The investments are diversified across multiple industry segments using a balanced allocation strategy to minimize long-term risk. We believe that none of the remaining securities are other-than-temporarily impaired based on our analysis of the investments. Our analysis included a review of the portfolio holdings, and discussions with the individual money managers as to the sector exposures, credit ratings, and the severity and duration of the unrealized losses. Our cemetery perpetual care trust investment unrealized losses, their associated fair values and the duration of unrealized losses, are shown in the following tables. | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 1,247 | $ | (11 | ) | $ | 2 | $ | — | $ | 1,249 | $ | (11 | ) | ||||||||||
Canadian government | 18,422 | (146 | ) | 1,818 | (58 | ) | 20,240 | (204 | ) | |||||||||||||||
Corporate | 15,687 | (148 | ) | 3,204 | (161 | ) | 18,891 | (309 | ) | |||||||||||||||
Residential mortgage-backed | 685 | (14 | ) | 11 | (1 | ) | 696 | (15 | ) | |||||||||||||||
Asset-backed | 391 | (4 | ) | 15 | — | 406 | (4 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 3,362 | (57 | ) | 46 | (5 | ) | 3,408 | (62 | ) | |||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 25,383 | (1,519 | ) | 2,755 | (782 | ) | 28,138 | (2,301 | ) | |||||||||||||||
Canada | 1,233 | (35 | ) | 1,664 | (544 | ) | 2,897 | (579 | ) | |||||||||||||||
Other international | 1,847 | (21 | ) | 1,020 | (145 | ) | 2,867 | (166 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 397 | (15 | ) | 118 | (12 | ) | 515 | (27 | ) | |||||||||||||||
Fixed income | 49,171 | (893 | ) | 9,632 | (237 | ) | 58,803 | (1,130 | ) | |||||||||||||||
Private equity | — | — | 20,256 | (8,753 | ) | 20,256 | (8,753 | ) | ||||||||||||||||
Other | 14 | (10 | ) | 9,891 | — | 9,905 | (10 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 117,839 | $ | (2,873 | ) | $ | 50,432 | $ | (10,698 | ) | $ | 168,271 | $ | (13,571 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 1,339 | $ | (14 | ) | $ | 20 | $ | — | $ | 1,359 | $ | (14 | ) | ||||||||||
Canadian government | 15,777 | (214 | ) | 5,131 | (245 | ) | 20,908 | (459 | ) | |||||||||||||||
Corporate | 22,534 | (129 | ) | 3,299 | (134 | ) | 25,833 | (263 | ) | |||||||||||||||
Residential mortgage-backed | 2,960 | (18 | ) | 10 | (1 | ) | 2,970 | (19 | ) | |||||||||||||||
Asset-backed | 2,835 | (10 | ) | 15 | (1 | ) | 2,850 | (11 | ) | |||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 14,650 | (245 | ) | 44 | (7 | ) | 14,694 | (252 | ) | |||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 23,825 | (1,561 | ) | 3,254 | (526 | ) | 27,079 | (2,087 | ) | |||||||||||||||
Canada | 667 | (129 | ) | 1,794 | (494 | ) | 2,461 | (623 | ) | |||||||||||||||
Other international | 1,540 | (54 | ) | 525 | (113 | ) | 2,065 | (167 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 391 | (14 | ) | 163 | (21 | ) | 554 | (35 | ) | |||||||||||||||
Fixed income | 181,701 | (2,090 | ) | 28,507 | (508 | ) | 210,208 | (2,598 | ) | |||||||||||||||
Private equity | — | — | 19,242 | (9,002 | ) | 19,242 | (9,002 | ) | ||||||||||||||||
Other | — | — | 9,738 | (84 | ) | 9,738 | (84 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 268,219 | $ | (4,478 | ) | $ | 71,742 | $ | (11,136 | ) | $ | 339,961 | $ | (15,614 | ) | |||||||||
Deferred_Preneed_Funeral_and_C
Deferred Preneed Funeral and Cemetery Receipts Held in Trust and Care Trusts' Corpus (Notes) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Deferred Preneed Funeral and Cemetery Receipts Held in Trust and Care Trusts' Corpus [Abstract] | ' | |||||||||||||||||||||||
Deferred Preneed Funeral And Cemetery Receipts Held In Trust And Care Trusts Corpus Text Block | ' | |||||||||||||||||||||||
Deferred Preneed Funeral and Cemetery Receipts Held in Trust and Care Trusts’ Corpus | ||||||||||||||||||||||||
Deferred Preneed Funeral and Cemetery Receipts Held in Trust | ||||||||||||||||||||||||
We consolidate the merchandise and service trusts associated with our preneed funeral and cemetery activities in accordance with the Consolidation Topic of the ASC. Although the guidance requires the consolidation of the merchandise and service trusts, it does not change the legal relationships among the trusts, us, or our customers. The customers are the legal beneficiaries of these merchandise and service trusts, and therefore their interests in these trusts represent a liability to us. | ||||||||||||||||||||||||
The components of Deferred preneed funeral and cemetery receipts held in trust in our unaudited condensed consolidated balance sheet at March 31, 2014 and December 31, 2013 are detailed below. | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Preneed | Preneed | Total | Preneed | Preneed | Total | |||||||||||||||||||
Funeral | Cemetery | Funeral | Cemetery | |||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
Trust investments | $ | 1,667,134 | $ | 1,583,172 | $ | 3,250,306 | $ | 1,668,691 | $ | 1,584,701 | $ | 3,253,392 | ||||||||||||
Accrued trust operating payables and other | (1,934 | ) | (2,743 | ) | (4,677 | ) | (1,108 | ) | (1,698 | ) | (2,806 | ) | ||||||||||||
Deferred preneed funeral and cemetery receipts held in trust | $ | 1,665,200 | $ | 1,580,429 | $ | 3,245,629 | $ | 1,667,583 | $ | 1,583,003 | $ | 3,250,586 | ||||||||||||
Care Trusts’ Corpus | ||||||||||||||||||||||||
The Care trusts’ corpus reflected in our unaudited condensed consolidated balance sheet represents the cemetery perpetual care trusts, including the related accrued expenses. | ||||||||||||||||||||||||
The components of Care trusts’ corpus in our unaudited condensed consolidated balance sheet at March 31, 2014 and December 31, 2013 are detailed below. | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Cemetery perpetual care trust investments | $ | 1,342,589 | $ | 1,347,622 | ||||||||||||||||||||
Accrued trust operating payables and other | (2,228 | ) | (1,748 | ) | ||||||||||||||||||||
Care trusts’ corpus | $ | 1,340,361 | $ | 1,345,874 | ||||||||||||||||||||
Other Income (Expense), Net | ||||||||||||||||||||||||
The components of Other income (expense), net in our unaudited condensed consolidated statement of operations for the three months ended March 31, 2014 and 2013 are detailed below. See Notes 4, 5, and 6 for further discussion of the amounts related to the funeral, cemetery, and cemetery perpetual care trusts. | ||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Funeral | Cemetery | Cemetery Perpetual | Other, Net | Total | ||||||||||||||||||||
Trusts | Trusts | Care Trusts | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Realized gains | $ | 16,101 | $ | 25,532 | $ | 5,045 | $ | — | $ | 46,678 | ||||||||||||||
Realized losses | (1,474 | ) | (2,299 | ) | (337 | ) | — | (4,110 | ) | |||||||||||||||
Impairment charges | (251 | ) | (339 | ) | (40 | ) | — | (630 | ) | |||||||||||||||
Interest, dividend, and other ordinary income | 5,574 | 2,495 | 9,586 | — | 17,655 | |||||||||||||||||||
Trust expenses and income taxes | (4,467 | ) | (4,815 | ) | (1,547 | ) | — | (10,829 | ) | |||||||||||||||
Net trust investment income | 15,483 | 20,574 | 12,707 | — | 48,764 | |||||||||||||||||||
Reclassification to deferred preneed funeral and cemetery receipts held in trust and care trusts’ corpus | (15,483 | ) | (20,574 | ) | (12,707 | ) | — | (48,764 | ) | |||||||||||||||
Other income (expense), net | — | — | — | 1,534 | 1,534 | |||||||||||||||||||
Total other income, net | $ | — | $ | — | $ | — | $ | 1,534 | $ | 1,534 | ||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||
Funeral | Cemetery | Cemetery Perpetual | Other, Net | Total | ||||||||||||||||||||
Trusts | Trusts | Care Trusts | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Realized gains | $ | 11,371 | $ | 16,576 | $ | 3,782 | $ | — | $ | 31,729 | ||||||||||||||
Realized losses | (1,721 | ) | (2,170 | ) | (322 | ) | — | (4,213 | ) | |||||||||||||||
Impairment charges | (200 | ) | (357 | ) | (63 | ) | — | (620 | ) | |||||||||||||||
Interest, dividend, and other ordinary income | 1,817 | 1,529 | 6,089 | — | 9,435 | |||||||||||||||||||
Trust expenses and income taxes | (2,381 | ) | (3,669 | ) | (575 | ) | — | (6,625 | ) | |||||||||||||||
Net trust investment income | 8,886 | 11,909 | 8,911 | — | 29,706 | |||||||||||||||||||
Reclassification to deferred preneed funeral and cemetery receipts held in trust and care trusts’ corpus | (8,886 | ) | (11,909 | ) | (8,911 | ) | — | (29,706 | ) | |||||||||||||||
Other income (expense), net | — | — | — | (984 | ) | (984 | ) | |||||||||||||||||
Total other income, net | $ | — | $ | — | $ | — | $ | (984 | ) | $ | (984 | ) | ||||||||||||
Income_Taxes_Notes
Income Taxes (Notes) | 3 Months Ended |
Mar. 31, 2014 | |
Income Taxes [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
Income Taxes | |
Income tax expense during interim periods is based on our estimated annual effective income tax rate plus any discrete items which are recorded in the period in which they occur. Discrete items include, among others, such events as changes in estimates due to the finalization of tax returns, tax audit settlements, expiration of statute of limitations, and increases or decreases in valuation allowances on deferred tax assets. Our effective tax rate was 35.4% and 37.5% for the three months ended March 31, 2014 and 2013, respectively. The lower effective tax rate for the three months ended March 31, 2014 is primarily due to the benefits associated with the Stewart acquisition coupled with state legislative changes partially offset by an increase in our liability related to unrecognized tax benefits. The effective tax rate for the first quarter of 2014 is above the 35% federal statutory tax rate due to state tax expense which is partially offset by state legislative changes and foreign earnings taxed at lower rates. | |
Unrecognized Tax Benefits | |
As of March 31, 2014, the gross amount of our unrecognized tax benefits was $136.9 million and the gross amount of our accrued interest was $45.3 million. Additional interest expense of $0.7 million was accrued. | |
A number of years may elapse before particular tax matters, for which we have unrecognized tax benefits, are settled. While we have effectively concluded our 2003 through 2005 tax years with respect to our affiliate the COOP, SCI and Subsidiaries' tax years 1999 through 2005 remain under review at the IRS Appeals level. SCI and Subsidiaries received a letter of no change to its tax liability for the years 2008 through 2010. Furthermore, SCI and its affiliates are under audit by various state and foreign jurisdictions for years through 2012. The outcome of each of these audits cannot be predicted at this time. It is reasonably possible that the amount of our unrecognized tax benefits could significantly increase or decrease over the next twelve months either because we prevail on positions or because the tax authorities prevail. Due to the uncertainty regarding the timing of completion of audits and possible outcomes, a current estimate of the range of increases or decreases that may occur within the next twelve months cannot be made. |
Debt_Notes
Debt (Notes) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt [Abstract] | ' | |||||||
Debt Disclosure [Text Block] | ' | |||||||
Debt | ||||||||
Debt as of March 31, 2014 and December 31, 2013 was as follows: | ||||||||
March 31, 2014 | December 31, 2013 | |||||||
(In thousands) | ||||||||
3.125% Senior Convertible Notes due July 2014 | $ | 95 | $ | 85,256 | ||||
6.75% Senior Notes due April 2015 | 136,465 | 136,465 | ||||||
6.75% Senior Notes due April 2016 | 197,377 | 197,377 | ||||||
3.375% Senior Convertible Notes due July 2016 | 154 | 46,279 | ||||||
7.0% Senior Notes due June 2017 | 295,000 | 295,000 | ||||||
7.625% Senior Notes due October 2018 | 250,000 | 250,000 | ||||||
6.5% Senior Notes due April 2019 | 200,000 | 200,000 | ||||||
7.0% Senior Notes due May 2019 | 250,000 | 250,000 | ||||||
4.5% Senior Notes due November 2020 | 200,000 | 200,000 | ||||||
8.0% Senior Notes due November 2021 | 150,000 | 150,000 | ||||||
5.375% Senior Notes due January 2022 | 425,000 | 425,000 | ||||||
7.5% Senior Notes due April 2027 | 200,000 | 200,000 | ||||||
Term Loan due July 2018 | 592,500 | 600,000 | ||||||
Bank credit facility due July 2018 | 140,000 | 30,000 | ||||||
Obligations under capital leases | 192,528 | 189,697 | ||||||
Mortgage notes and other debt, maturities through 2050 | 4,672 | 4,752 | ||||||
Unamortized premiums and other, net | 5,839 | 42,084 | ||||||
Total debt | 3,239,630 | 3,301,910 | ||||||
Less: | ||||||||
Current maturities of debt, capital lease obligations, and mortgage notes | (104,284 | ) | (153,738 | ) | ||||
Current maturities of unamortized premiums and other, net | (1,421 | ) | (22,624 | ) | ||||
Total current maturities | (105,705 | ) | (176,362 | ) | ||||
Total long-term debt | $ | 3,133,925 | $ | 3,125,548 | ||||
Current maturities of debt at March 31, 2014 primarily comprise our capital leases and amounts due under our term loan. Our consolidated debt had a weighted average interest rate of 5.38% and 5.25% at March 31, 2014 and December 31, 2013, respectively. Approximately 72% and 76% of our total debt had a fixed interest rate at March 31, 2014 and December 31, 2013, respectively. | ||||||||
Bank Credit Facility | ||||||||
The Company has a $500 million bank credit facility due July 2018 with a syndicate of banks, including a sublimit of $175 million for letters of credit. | ||||||||
As of March 31, 2014, we have $140.0 million outstanding under our Bank credit facility and $31.6 million of letters of credit. The bank credit facility provides us with flexibility for working capital, if needed, and is guaranteed by a majority of our domestic subsidiaries. The subsidiary guaranty is a guaranty of payment of the outstanding amount of the total lending commitment, including letters of credit. The bank credit facility contains certain financial covenants, including a minimum interest coverage ratio, a maximum leverage ratio, and certain dividend and share repurchase restrictions. We pay a quarterly fee on the unused commitment, which was 0.40% at March 31, 2014. As of March 31, 2014, we have $328.4 million in borrowing capacity under the bank credit facility. | ||||||||
Debt Extinguishments and Reductions | ||||||||
During the three months ended March 31, 2014, we made debt payments of $181.9 million, including the following scheduled payments and convertible debt payments: | ||||||||
• | $86.3 million aggregate principal amount of our 3.125% Senior Convertible Notes due July 2014; | |||||||
• | $45.0 million aggregate principal amount of our 3.375% Senior Convertible Notes due July 2016; | |||||||
• | $21.7 million aggregate unamortized premiums associated with our 3.125% Senior Convertible Notes due July 2014; | |||||||
• | $14.2 million aggregate unamortized premiums associated with our 3.375% Senior Convertible Notes due July 2016; | |||||||
• | $7.5 million aggregate principal amount of our Term Loan due July 2018; and | |||||||
• | $7.2 million in scheduled payments for our capital lease obligations. | |||||||
We did not incur any gains or losses as a result of these transactions. | ||||||||
During the three months ended March 31, 2013, we paid an aggregate of $11.4 million, to repay our remaining 7.875% Debentures due February 2013 and our capital lease obligations. | ||||||||
Capital Leases | ||||||||
During the three months ended March 31, 2014 and 2013, we acquired $10.7 million and $14.9 million, respectively, of primarily transportation equipment capital leases. |
Credit_Risk_and_Fair_Value_of_
Credit Risk and Fair Value of Financial Instruments (Notes) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Credit Risk and Fair Value of Financial Instruments [Abstract] | ' | |||||||
Credit Risk and Fair Value of Financial Instruments [Text Block] | ' | |||||||
Credit Risk and Fair Value of Financial Instruments | ||||||||
Fair Value Estimates | ||||||||
The fair value estimates of the following financial instruments have been determined using available market information and appropriate valuation methodologies. The carrying values of cash and cash equivalents, trade receivables, and trade payables approximate the fair values of those instruments due to the short-term nature of the instruments. The fair values of receivables on preneed funeral and cemetery contracts are impracticable to estimate because of the lack of a trading market and the diverse number of individual contracts with varying terms. | ||||||||
The fair value of our debt instruments at March 31, 2014 and December 31, 2013 was as follows: | ||||||||
March 31, 2014 | December 31, 2013 | |||||||
(In thousands) | ||||||||
3.125% Senior Convertible Notes due July 2014 | $ | 121 | $ | 106,939 | ||||
6.75% Senior Notes due April 2015 | 143,179 | 144,653 | ||||||
6.75% Senior Notes due April 2016 | 214,647 | 214,904 | ||||||
3.375% Senior Convertible Notes due July 2016 | 185 | 60,487 | ||||||
7.0% Senior Notes due June 2017 | 331,285 | 333,259 | ||||||
7.625% Senior Notes due October 2018 | 288,438 | 288,875 | ||||||
6.5% Senior Notes due April 2019 | 210,000 | 210,000 | ||||||
7.0% Senior Notes due May 2019 | 266,250 | 270,000 | ||||||
4.5% Senior Notes due November 2020 | 196,000 | 192,610 | ||||||
8.0% Senior Notes due November 2021 | 173,625 | 173,625 | ||||||
5.375% Senior Notes due January 2022 | 434,563 | 431,588 | ||||||
7.5% Senior Notes due April 2027 | 216,500 | 215,750 | ||||||
Term Loan due July 2018 | 592,500 | 600,000 | ||||||
Bank credit facility due July 2018 | 140,000 | 30,000 | ||||||
Mortgage notes and other debt, maturities through 2050 | 4,672 | 4,752 | ||||||
Total fair value of debt instruments | $ | 3,211,965 | $ | 3,277,442 | ||||
The fair values of our long-term, fixed rate loans were estimated using market prices for those loans, and therefore they are classified within Level 1 of the Fair Value Measurements hierarchy as required by the FVM&D Topic of the ASC. The bank credit agreement and the mortgage and other debt are classified within Level 3 of the Fair Value Measurements hierarchy. The fair values of these instruments have been estimated using discounted cash flow analysis based on our incremental borrowing rate for similar borrowing arrangements. A significant increase (decrease) in the inputs results in a directionally opposite change in the fair value of the instruments. |
ShareBased_Compensation_Notes
Share-Based Compensation (Notes) | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Share-based Compensation [Abstract] | ' | ||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||
Share-Based Compensation | |||||||
Stock Benefit Plans | |||||||
We utilize the Black-Scholes option valuation model for estimating the fair value of our stock options. This model uses a range of assumptions related to volatility, the risk-free interest rate, the expected life, and the dividend yield. The fair values of our stock options are calculated using the following weighted average assumptions for the three months ended March 31, 2014: | |||||||
Three Months Ended | |||||||
Assumptions | March 31, 2014 | ||||||
Dividend yield | 1.8 | % | |||||
Expected volatility | 27.1 | % | |||||
Risk-free interest rate | 1.1 | % | |||||
Expected holding period (in years) | 4 | ||||||
Stock Options | |||||||
The following table sets forth stock option activity for the three months ended March 31, 2014: | |||||||
Options | Weighted-Average | ||||||
Exercise Price | |||||||
Outstanding at December 31, 2013 | 13,319,750 | $ | 9.84 | ||||
Granted | 2,495,850 | $ | 17.41 | ||||
Exercised | (964,403 | ) | $ | 8.82 | |||
Outstanding at March 31, 2014 | 14,851,197 | $ | 11.18 | ||||
Exercisable at March 31, 2014 | 10,339,379 | $ | 9.14 | ||||
As of March 31, 2014, the unrecognized compensation expense related to stock options of $14.6 million is expected to be recognized over a weighted average period of 1.6 years. | |||||||
Restricted Shares | |||||||
Restricted share activity for the three months ended March 31, 2014 was as follows: | |||||||
Restricted | Weighted-Average | ||||||
shares | Grant-Date | ||||||
Fair Value | |||||||
Nonvested restricted shares at December 31, 2013 | 1,183,229 | $ | 11.81 | ||||
Granted | 344,570 | $ | 17.41 | ||||
Vested | (187,549 | ) | $ | 11.44 | |||
Nonvested restricted shares at March 31, 2014 | 1,340,250 | $ | 13.3 | ||||
As of March 31, 2014, the unrecognized compensation expense related to restricted shares of $10.8 million is expected to be recognized over a weighted average period of 1.6 years. |
Equity_Notes
Equity (Notes) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Equity [Abstract] | ' | |||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | |||||||||||
Equity | ||||||||||||
(All shares reported in whole numbers) | ||||||||||||
Our components of Accumulated other comprehensive income are as follows: | ||||||||||||
Foreign | Unrealized | Accumulated | ||||||||||
Currency | Gains and | Other | ||||||||||
Translation | Losses | Comprehensive | ||||||||||
Adjustment | Income | |||||||||||
(In thousands) | ||||||||||||
Balance at December 31, 2013 | $ | 88,441 | $ | — | $ | 88,441 | ||||||
Activity in 2014 | (11,226 | ) | — | (11,226 | ) | |||||||
Reduction in net unrealized gains associated with available-for-sale securities of the trusts, net of taxes | — | 17,039 | 17,039 | |||||||||
Reclassification of net unrealized losses activity attributable to the Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus, net of taxes | — | (17,039 | ) | (17,039 | ) | |||||||
Balance at March 31, 2014 | $ | 77,215 | $ | — | $ | 77,215 | ||||||
The assets and liabilities of foreign operations are translated into U.S. dollars using the current exchange rate. The U.S. dollar amount that arises from such translation, as well as exchange gains and losses on intercompany balances of a long-term investment nature, are included in the foreign currency translation adjustment in Accumulated other comprehensive income. | ||||||||||||
Cash Dividends | ||||||||||||
On February 12, 2014, our Board of Directors approved a cash dividend of $.08 per common share. This dividend, totaling $17.1 million, was paid on March 28, 2014. | ||||||||||||
Share Repurchases | ||||||||||||
Subject to market conditions, normal trading restrictions, and limitations in our debt covenants, we may make purchases in the open market or through privately negotiated transactions under our stock repurchase program. During the three months ended March 31, 2014, there were no share repurchases under our share repurchase program. The remaining dollar value of shares authorized to be purchased under our share repurchase program was approximately $190.1 million at March 31, 2014. | ||||||||||||
During the three months ended March 31, 2014, we made $1.1 million of share repurchases that were not part of the publicly announced programs. These shares represent restricted stock that was redeemed by certain employees in lieu of tax liability withholdings and stock option exercises by attestation, which do not affect our share repurchase program. |
Segment_Reporting_Notes
Segment Reporting (Notes) | 3 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||||
Segment Reporting | ||||||||||||||||
Our operations are both product based and geographically based, and the reportable operating segments presented below include our funeral and cemetery operations. Our geographic areas include United States, Canada, and Germany. We conduct both funeral and cemetery operations in the United States and Canada and funeral operations in Germany. | ||||||||||||||||
Our reportable segment information is as follows: | ||||||||||||||||
Funeral | Cemetery | Reportable | ||||||||||||||
Segments | ||||||||||||||||
(In thousands) | ||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
Revenues from external customers: | ||||||||||||||||
2014 | $ | 510,668 | $ | 236,455 | $ | 747,123 | ||||||||||
2013 | $ | 462,019 | $ | 190,333 | $ | 652,352 | ||||||||||
Gross profits: | ||||||||||||||||
2014 | $ | 119,389 | $ | 46,993 | $ | 166,382 | ||||||||||
2013 | $ | 120,131 | $ | 39,526 | $ | 159,657 | ||||||||||
The following table reconciles gross profits from reportable segments to our consolidated income before income taxes: | ||||||||||||||||
Three Months Ended | ||||||||||||||||
March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(In thousands) | ||||||||||||||||
Gross profits from reportable segments | $ | 166,382 | $ | 159,657 | ||||||||||||
General and administrative expenses | (56,010 | ) | (30,923 | ) | ||||||||||||
Losses on divestitures and impairment charges, net | (2,812 | ) | (969 | ) | ||||||||||||
Operating income | 107,560 | 127,765 | ||||||||||||||
Interest expense | (44,996 | ) | (32,769 | ) | ||||||||||||
Other income (expense), net | 1,534 | (984 | ) | |||||||||||||
Income before income taxes | $ | 64,098 | $ | 94,012 | ||||||||||||
Our geographic area information is as follows: | ||||||||||||||||
United | Canada | Germany | Total | |||||||||||||
States | ||||||||||||||||
(In thousands) | ||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
Revenues from external customers: | ||||||||||||||||
2014 | $ | 694,383 | $ | 51,126 | $ | 1,614 | $ | 747,123 | ||||||||
2013 | $ | 595,437 | $ | 54,981 | $ | 1,934 | $ | 652,352 | ||||||||
Supplementary_Information_Note
Supplementary Information (Notes) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Supplementary Information [Abstract] | ' | |||||||
Additional Financial Information Disclosure [Text Block] | ' | |||||||
Supplementary Information | ||||||||
The detail of certain income statement accounts as presented in the unaudited condensed consolidated statement of operations is as follows: | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Merchandise revenues: | ||||||||
Funeral | $ | 164,735 | $ | 160,329 | ||||
Cemetery | 155,392 | 129,476 | ||||||
Total merchandise revenues | 320,127 | 289,805 | ||||||
Services revenues: | ||||||||
Funeral | 311,160 | 273,830 | ||||||
Cemetery | 71,383 | 54,568 | ||||||
Total services revenues | 382,543 | 328,398 | ||||||
Other revenues | 44,453 | 34,149 | ||||||
Total revenues | $ | 747,123 | $ | 652,352 | ||||
Merchandise costs and expenses: | ||||||||
Funeral | $ | 81,954 | $ | 75,781 | ||||
Cemetery | 69,537 | 56,553 | ||||||
Total cost of merchandise | 151,491 | 132,334 | ||||||
Services costs and expenses: | ||||||||
Funeral | 159,505 | 136,124 | ||||||
Cemetery | 37,038 | 26,331 | ||||||
Total cost of services | 196,543 | 162,455 | ||||||
Overhead and other expenses | 232,707 | 197,906 | ||||||
Total costs and expenses | $ | 580,741 | $ | 492,695 | ||||
Certain Non-Cash Financing Transactions | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Options exercised by attestation | $ | 761 | $ | — | ||||
Shares repurchased | $ | (761 | ) | $ | — | |||
Commitments_and_Contingencies_
Commitments and Contingencies (Notes) | 3 Months Ended |
Mar. 31, 2014 | |
Commitments and Contingencies [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
Commitments and Contingencies | |
Insurance Loss Reserves | |
We purchase comprehensive general liability, morticians’ and cemetery professional liability, automobile liability, and workers’ compensation insurance coverage structured with high deductibles. The high-deductible insurance program means we are primarily self-insured for claims and associated costs and losses covered by these policies. As of March 31, 2014 and December 31, 2013, we have self-insurance reserves of $80.0 million and $78.0 million, respectively. | |
Litigation | |
We are a party to various litigation matters, investigations, and proceedings. For each of our outstanding legal matters, we evaluate the merits of the case, our exposure to the matter, possible legal or settlement strategies, and the likelihood of an unfavorable outcome. We intend to vigorously defend ourselves in the lawsuits described herein; however, if we determine that an unfavorable outcome is probable and can be reasonably estimated, we establish the necessary accruals. We hold certain insurance policies that may reduce cash outflows with respect to an adverse outcome of certain of these litigation matters. We accrue such insurance recoveries when they become probable of being paid and can be reasonably estimated. | |
Burial Practices Claims. We are named as a defendant in various lawsuits alleging improper burial practices at certain of our cemetery locations. These lawsuits include but are not limited to the Scott and Schwartz lawsuits described in the following paragraphs. | |
Robert Scott, individually and on behalf of all others similarly situated, v. Eden Memorial Park, et al. (previously styled F. Charles Sands, et al. v. Eden Memorial Park, et al.) Case No. BC421528; in the Superior Court of the State of California for the County of Los Angeles - Central District. This case was filed in September 2009 against SCI and certain subsidiaries regarding our Eden Memorial Park cemetery in Mission Hills, California. The plaintiff seeks compensatory, consequential, and punitive damages as well as the appointment of a receiver to oversee cemetery operations. The plaintiff alleges the cemetery engaged in wrongful burial practices and did not disclose them to customers. After a hearing in February 2012, the court in May 2012 issued an order certifying classes of cemetery plot owners and their families based on alleged Company misrepresentation, concealment or nondisclosure of material facts regarding alleged improper burial practices pertaining to the period from February 1985 to September 2009. Trial proceedings commenced in January 2014. On February 27, 2014, the Company announced a settlement of the lawsuit and the trial court preliminarily approved the settlement agreement. All claims under the lawsuit will be released if final court approval of the settlement is obtained. The terms of the settlement call for the establishment of a settlement fund of $35,250,000, to which various SCI insurance carriers will contribute $25,250,000 and the Company will contribute the balance. Other provisions call for, among other things, the Company to contribute up to $250,000 toward claims administration costs and take certain actions in performing future burials. In addition, the Company reserves the right to cancel the settlement in the event a certain number of class members opt out of the settlement. The trial court is scheduled to conduct a hearing on May 15, 2014 to consider the final approval of the settlement. We cannot quantify our ultimate liability, if any, for the payment of any damages. | |
Barbara Schwartz & Carol Neitlich, Individually and on behalf of all others similarly situated v. SCI Funeral Services of Florida, Inc., et al.; Case No. 2012CA015954, In the Circuit Court of the 15th Judicial District in and for Palm Beach County, Florida. This lawsuit has been removed to the U.S. District Court for the Southern District of Florida and is now Case No. 9:12-CV-80180-DMM. This case was filed by counsel for plaintiffs in the Sands case regarding our Star of David Memorial Gardens Cemetery and Funeral Chapel and Bailey Memorial Gardens located in North Lauderdale, Florida. Plaintiffs seek to certify a class of cemetery plot owners and their families. Plaintiffs allege the cemetery engaged in wrongful burial practices and did not disclose them to customers. Plaintiffs seek compensatory, consequential, and punitive damages as well as the appointment of a receiver to oversee the cemetery operations. On our motion, the court dismissed the plaintiffs' claims in March 2013. The plaintiffs appealed the dismissal. On February 5, 2014, the 11th Circuit Court of Appeals affirmed the dismissal of the plaintiffs’ claims. We cannot quantify our ultimate liability, if any, for the payment of any damages. | |
Wage and Hour Claims. We are named a defendant in various lawsuits alleging violations of federal and state laws regulating wage and hour overtime pay, including but not limited to the Bryant and Helm lawsuits described below. | |
Bryant, et al. v. Service Corporation International, et al.; Case No. RG-07359593; and Helm, et al. v. AWGI & SCI; Case No. RG-07359602; in the Superior Court of the State of California, County of Alameda. These cases were filed on December 5, 2007. These cases were removed to federal court in the U.S. District Court for the Northern District of California, San Francisco/Oakland Division. The Bryant case is now Case No. 3:08-CV-01190-SI and the Helm case is now Case No. C 08-01184-SI. On December 29, 2009, the court in the Helm case denied the plaintiffs’ motion to certify the case as a class action. The plaintiffs modified and refiled their motion for certification. On March 9, 2011, the court denied plaintiffs’ renewed motions to certify a class in both of the Bryant and Helm cases and dismissed the Helm case. The Helm plaintiff is appealing the court's order decertifying her claims. The individual claims in the Bryant case are still pending. The plaintiffs have also (i) filed additional lawsuits with similar allegations seeking class certification of state law claims in different states, and (ii) made a large number of demands for arbitration. We cannot quantify our ultimate liability, if any, in these lawsuits. | |
Claims Regarding Acquisition of Stewart Enterprises. We are named as a defendant in the following lawsuit. | |
Karen Moulton, Individually and on behalf of all others similarly situated v. Stewart Enterprises, Inc., Service Corporation International and others ; Case No. 2013-5636; in the Civil District Court Parish of New Orleans. This case was filed as a class action in June 2013 against SCI and our subsidiary in connection with SCI's acquisition of Stewart Enterprises, Inc. The plaintiffs allege that SCI aided and abetted breaches of fiduciary duties by Stewart Enterprises and its board of directors in negotiating the combination of Stewart Enterprises with a subsidiary of SCI. The plaintiffs seek damages concerning the combination. We have filed exceptions to the plaintiffs’ complaint that are set for oral hearing on June 12, 2014. We cannot quantify our ultimate liability, if any, for the payment of damages. | |
The ultimate outcome of the matters described above cannot be determined at this time. We intend to vigorously defend all of the above lawsuits; however, an adverse decision in one or more of such matters could have a material effect on us, our financial condition, results of operations, and cash flows. |
Earnings_Per_Share_Notes
Earnings Per Share (Notes) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Earnings Per Share [Text Block] | ' | |||||||
Earnings Per Share | ||||||||
Basic earnings per common share (EPS) excludes dilution and is computed by dividing Net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common shares that then shared in our earnings. | ||||||||
A reconciliation of the numerators and denominators of the basic and diluted EPS computations is presented below: | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
(In thousands, except per | ||||||||
share amounts) | ||||||||
Amounts attributable to common stockholders: | ||||||||
Net income: | ||||||||
Net income — basic | $ | 41,102 | $ | 57,620 | ||||
After tax interest on convertible debt | 13 | 13 | ||||||
Net income — diluted | $ | 41,115 | $ | 57,633 | ||||
Weighted average shares (denominator): | ||||||||
Weighted average shares — basic | 212,838 | 211,380 | ||||||
Stock options | 4,272 | 3,707 | ||||||
Convertible debt | 121 | 121 | ||||||
Weighted average shares — diluted | 217,231 | 215,208 | ||||||
Net income per share: | ||||||||
Basic | $ | 0.19 | $ | 0.27 | ||||
Diluted | $ | 0.19 | $ | 0.27 | ||||
The computation of diluted EPS excludes outstanding stock options and convertible debt in certain periods in which the inclusion of such options and debt would be anti-dilutive in the periods presented. For the three months ended March 31, 2014 and March 31, 2013, total options not currently included in the computation of dilutive EPS were 2.7 million and 1.1 million, respectively. |
Acquisition_Notes
Acquisition (Notes) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Business Combination Disclosure [Text Block] | ' | |||||||
Acquisition | ||||||||
Stewart | ||||||||
On December 23, 2013, pursuant to a tender offer, we acquired Stewart Enterprises, Inc. (Stewart) for 13.25 per share in cash, resulting in a purchase price of $1.5 billion, which includes the assumption of $331.5 million of Stewart’s debt. | ||||||||
The primary reasons for the merger and the principal factors that contributed to the recognition of goodwill in this acquisition were: | ||||||||
• | the acquisition of Stewart enhances our network footprint, enabling us to serve a number of new, complementary areas; | |||||||
• | combining the two companies’ operations provides synergies and related cost savings through the elimination of duplicate home office functions and economies of scale; and | |||||||
• | the acquisition of Stewart’s preneed backlog of deferred revenues enhances our long-term stability. | |||||||
The following table summarizes the adjusted fair values of the assets acquired and liabilities assumed as of December 23, 2013: | ||||||||
(In thousands) | ||||||||
Accounts receivable | $ | 14,638 | ||||||
Other current assets | 198,760 | |||||||
Cemetery property | 282,524 | |||||||
Property and equipment, net | 338,363 | |||||||
Preneed funeral and cemetery receivables and trust investments | 654,805 | |||||||
Finite-lived intangible assets | 77,134 | |||||||
Indefinite-lived intangible assets | 79,400 | |||||||
Acquired assets held for sale | 443,169 | |||||||
Deferred charges and other assets | 278,319 | |||||||
Goodwill | 625,295 | |||||||
Total assets acquired | 2,992,407 | |||||||
Current liabilities | 217,175 | |||||||
Long-term debt | 270,668 | |||||||
Deferred preneed funeral and cemetery revenues and deferred receipts held in trusts | 834,320 | |||||||
Assumed liabilities held for sale | 162,668 | |||||||
Deferred income taxes | 62,409 | |||||||
Other liabilities | 279,694 | |||||||
Total liabilities assumed | 1,826,934 | |||||||
Noncontrolling interest | 118 | |||||||
Net assets acquired | $ | 1,165,355 | ||||||
We have not finalized our assessment of the fair values as there has been insufficient time between the acquisition date and the issuance of these financial statements to complete our review and final determination of fair value. We made the following adjustments to our estimates of the fair value of assets and liabilities in the first quarter of 2014 and revised the consolidated balance sheet for the year-ended December 31, 2013 included in this filing to reflect these adjustments: | ||||||||
(In thousands) | ||||||||
Decrease in the fair value of cemetery property | 1,942 | |||||||
Decrease in the fair value of property and equipment, net | 2,093 | |||||||
Decrease in the fair value of finite-lived intangible assets | 29,146 | |||||||
Increase in the fair value of deferred preneed funeral and cemetery revenues and deferred receipts held in trust | 51,463 | |||||||
Decrease in the fair value of deferred income taxes | (37,760 | ) | ||||||
Other | (751 | ) | ||||||
Total adjustment to goodwill | 46,133 | |||||||
Goodwill, land, and certain identifiable intangible assets recorded in the acquisition are not subject to amortization; however, the goodwill and intangible assets will be tested periodically for impairment as required by the Intangible Assets Topic of the ASC. Of the $625.3 million in goodwill recognized, $281.4 million was allocated to our cemetery segment and $343.9 million was allocated to our funeral segment. As a result of the carryover of Stewart’s tax basis, $3.0 million of this goodwill is deductible for tax purposes. The identified intangible assets comprise the following: | ||||||||
Useful life | ||||||||
Minimum | Maximum | Fair Value | ||||||
(Years) | (In thousands) | |||||||
Preneed customer relationships related to insurance claims | 10 | 20 | $ | 28,500 | ||||
Other preneed customer relationships | 10 | 14 | 21,960 | |||||
Selling and management agreements | 20 | 40 | 5,900 | |||||
Covenants-not-to-compete | 5 | 15 | 5,480 | |||||
Operating leases | 26 | 34 | 6,144 | |||||
Tradenames | 5 | 5 | 9,150 | |||||
Tradenames | Indefinite | 77,900 | ||||||
Licenses and permits | Indefinite | 1,500 | ||||||
Total intangible assets | $ | 156,534 | ||||||
The condensed statement of operations for the three months ended March 31, 2014 includes the results of operations of Stewart. For the three months ended March 31, 2013, the following unaudited pro forma information presents information as if the merger occurred on January 1, 2013: | ||||||||
2013 | ||||||||
(In thousands) | ||||||||
(unaudited) | ||||||||
Revenue | $ | 750,105 | ||||||
Net income | $ | 64,218 | ||||||
SCI Direct | ||||||||
During 2013, we acquired an additional 20% of the outstanding shares of The Neptune Society, Inc. increasing our ownership from 70% to 90%. On January 1, 2014 The Neptune Society, Inc. changed its legal name to SCI Direct, Inc. During 2014, the Company acquired the remaining 10% of the outstanding shares of SCI Direct (formerly The Neptune Society, Inc.). SCI Direct is our direct cremation business and manages operations under various brand names, including Neptune Society, National Cremation Service, Trident Society, and Cremation Society of Virginia. This activity expands our footprint into a sector of the market that will continue to grow and that we do not currently target through our traditional funeral service and cemetery network. |
DivestitureRelated_Activities_
Divestiture-Related Activities (Notes) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Divestiture-Related Activities [Abstract] | ' | |||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ' | |||||||
Divestiture-Related Activities | ||||||||
As divestitures occur in the normal course of business, gains or losses on the sale of such locations are recognized in the income statement line item (Losses) gains on divestitures and impairment charges, net, which consist of the following for the three months ended March 31, : | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
2014 | 2013 | |||||||
(Losses) gains on divestitures, net | $ | 1,927 | $ | (891 | ) | |||
Impairment losses | (4,739 | ) | (78 | ) | ||||
$ | (2,812 | ) | $ | (969 | ) | |||
Assets Held for Sale | ||||||||
In connection with the acquisition of Stewart, we have agreed to a consent order with the staff of the Federal Trade Commission (FTC) that identifies certain properties the FTC will require us to divest as a result of the acquisition. The consent order has been approved by the FTC commissioners. As a result, these properties have been classified as assets held for sale in our condensed consolidated balance sheet. | ||||||||
Net assets held for sale at March 31, 2014 and December 31, 2013 were as follows: | ||||||||
31-Mar | 31-Dec | |||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Current assets | $ | 5,740 | $ | 4,569 | ||||
Preneed funeral and cemetery receivables and trust investments | 346,690 | 342,728 | ||||||
Cemetery property | 103,391 | 83,115 | ||||||
Property and equipment, net | 82,631 | 63,356 | ||||||
Goodwill | 127,138 | 140,860 | ||||||
Deferred charges and other assets | 22,954 | 32,989 | ||||||
Cemetery perpetual care trust investments | 112,197 | 83,426 | ||||||
Total assets | $ | 800,741 | $ | 751,043 | ||||
Accounts payable and accrued liabilities | 4,850 | 3,183 | ||||||
Deferred preneed funeral and cemetery revenues and deferred receipts held in trusts | 387,620 | 349,449 | ||||||
Care trusts' corpus | 112,197 | 83,426 | ||||||
Other long term liabilities | 4,606 | 4,209 | ||||||
Total liabilities | 509,273 | 440,267 | ||||||
Net assets held for sale | $ | 291,468 | $ | 310,776 | ||||
Guarantor_Notes
Guarantor (Notes) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | |||||||||||||||||||||||
Condensed Consolidating Financial Statements of Guarantors of Senior Notes | ||||||||||||||||||||||||
In conjunction with the Stewart acquisition, we assumed $200.0 million in aggregate principal amount of 6.5% senior notes due 2019 that were originally issued by Stewart Enterprises, Inc. ('Subsidiary Issuer') and issued a parent guarantee of the notes. | ||||||||||||||||||||||||
The following tables present the condensed consolidating historical financial statements as of March 31, 2014 and December 31, 2013 and for the three months ended March 31, 2014 and 2013, for SCI ('Parent') on a parent only basis; the Subsidiary Issuer on a parent only basis; the Guarantor subsidiaries, which serve as guarantors for all three notes, on a combined basis; all other non-guarantor subsidiaries on a combined basis; the eliminations necessary to arrive at the information for the Company on a consolidated basis; and the Company on a consolidated basis. | ||||||||||||||||||||||||
Non-guarantor subsidiaries of the three notes include the Puerto Rican subsidiaries of the Subsidiary Issuer; Investors Trust, Inc.; certain immaterial domestic subsidiaries of the Subsidiary Issuer, which are not 100 percent-owned, or are prohibited by law from guaranteeing the notes; and all subsidiaries of the Parent that are not subsidiaries of Stewart Enterprises, Inc. The guarantor subsidiaries of the notes are 100 percent-owned directly or indirectly by the Parent and the Subsidiary Issuer. The guarantees are full and unconditional and joint and several. The Issuer and Guarantor amounts are not reflected in the Statement of Operations, Comprehensive Income, and Cash Flows information for the three months ended March 31, 2013 as they were not owned by the Company during that period. | ||||||||||||||||||||||||
Condensed Consolidating Statements of Operations | ||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Revenues | $ | — | $ | — | $ | 110,165 | $ | 636,958 | $ | — | $ | 747,123 | ||||||||||||
Costs and expenses | — | — | (78,197 | ) | (502,544 | ) | — | (580,741 | ) | |||||||||||||||
Gross profits | — | — | 31,968 | 134,414 | — | 166,382 | ||||||||||||||||||
General and administrative expenses | (267 | ) | (8,979 | ) | — | (46,764 | ) | — | (56,010 | ) | ||||||||||||||
Losses on divestitures and impairment charges, net | — | — | (66 | ) | (2,746 | ) | — | (2,812 | ) | |||||||||||||||
Operating income | $ | (267 | ) | $ | (8,979 | ) | $ | 31,902 | $ | 84,904 | $ | — | $ | 107,560 | ||||||||||
Interest expense | (40,593 | ) | (2,652 | ) | — | (1,751 | ) | — | (44,996 | ) | ||||||||||||||
Equity in subsidiaries | 66,917 | 19,394 | 384 | — | (86,695 | ) | — | |||||||||||||||||
Other (expense) income, net | — | (2 | ) | 1 | 1,535 | — | 1,534 | |||||||||||||||||
Income from continuing operations before income taxes | $ | 26,057 | $ | 7,761 | $ | 32,287 | $ | 84,688 | $ | (86,695 | ) | $ | 64,098 | |||||||||||
Benefit (provision) for income taxes | 15,045 | 4,691 | (12,863 | ) | (29,580 | ) | — | (22,707 | ) | |||||||||||||||
Net income | 41,102 | 12,452 | 19,424 | 55,108 | (86,695 | ) | 41,391 | |||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | (289 | ) | $ | (289 | ) | |||||||||||||||
Net income attributable to common stockholders | $ | 41,102 | $ | 12,452 | $ | 19,424 | $ | 55,108 | $ | (86,984 | ) | $ | 41,102 | |||||||||||
Condensed Consolidating Statements of Operations | ||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||
Parent | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||||
Revenues | $ | — | $ | 652,352 | $ | — | $ | 652,352 | ||||||||||||||||
Costs and expenses | — | (492,695 | ) | — | (492,695 | ) | ||||||||||||||||||
Gross profits | — | 159,657 | — | 159,657 | ||||||||||||||||||||
General and administrative expenses | (262 | ) | (30,661 | ) | — | (30,923 | ) | |||||||||||||||||
Losses on divestitures and impairment charges, net | — | (969 | ) | — | (969 | ) | ||||||||||||||||||
Operating income | (262 | ) | 128,027 | — | 127,765 | |||||||||||||||||||
Interest expense | (31,035 | ) | (1,734 | ) | — | (32,769 | ) | |||||||||||||||||
Equity in subsidiaries | 77,420 | — | (77,420 | ) | — | |||||||||||||||||||
Other (expense) income, net | — | (984 | ) | — | (984 | ) | ||||||||||||||||||
Income from continuing operations before income taxes | 46,123 | 125,309 | (77,420 | ) | 94,012 | |||||||||||||||||||
Benefit (provision) for income taxes | 11,497 | (46,787 | ) | — | (35,290 | ) | ||||||||||||||||||
Net income | 57,620 | 78,522 | (77,420 | ) | 58,722 | |||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | (1,102 | ) | (1,102 | ) | ||||||||||||||||||
Net income attributable to common stockholders | $ | 57,620 | $ | 78,522 | $ | (78,522 | ) | $ | 57,620 | |||||||||||||||
Condensed Consolidating Statements of Comprehensive Income | ||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Net income | $ | 41,102 | $ | 12,452 | $ | 19,424 | $ | 55,108 | $ | (86,695 | ) | $ | 41,391 | |||||||||||
Other comprehensive income | (11,226 | ) | — | — | (11,226 | ) | 10,937 | (11,515 | ) | |||||||||||||||
Total comprehensive income attributable to common stockholders | $ | 29,876 | $ | 12,452 | $ | 19,424 | $ | 43,882 | $ | (75,758 | ) | $ | 29,876 | |||||||||||
Condensed Consolidating Statements of Comprehensive Income | ||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||
Parent | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||||
Net income | $ | 57,620 | $ | 78,522 | $ | (77,420 | ) | $ | 58,722 | |||||||||||||||
Other comprehensive income | (5,512 | ) | (5,512 | ) | 4,410 | (6,614 | ) | |||||||||||||||||
Total comprehensive income attributable to common stockholders | $ | 52,108 | $ | 73,010 | $ | (73,010 | ) | $ | 52,108 | |||||||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
ASSETS | ||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 21,341 | $ | 753 | $ | 126,525 | $ | — | $ | 148,619 | ||||||||||||
Receivables, net | — | 909 | 5,536 | 99,368 | — | 105,813 | ||||||||||||||||||
Inventories, net | — | — | 10,194 | 24,314 | — | 34,508 | ||||||||||||||||||
Current assets held for sale | — | — | 4,164 | 1,576 | — | 5,740 | ||||||||||||||||||
Other | 9,176 | 7,668 | 34,403 | 30,077 | — | 81,324 | ||||||||||||||||||
Total current assets | $ | 9,176 | $ | 29,918 | $ | 55,050 | $ | 281,860 | $ | — | $ | 376,004 | ||||||||||||
Equity in subsidiaries | 4,280,493 | 657,543 | 4,546 | — | (4,942,582 | ) | — | |||||||||||||||||
Preneed funeral receivables, net and trust investments | — | — | 376,292 | 1,495,247 | — | 1,871,539 | ||||||||||||||||||
Preneed cemetery receivables, net and trust investments | — | — | 255,305 | 2,046,328 | — | 2,301,633 | ||||||||||||||||||
Cemetery property, at cost | — | — | 233,661 | 1,487,785 | — | 1,721,446 | ||||||||||||||||||
Property and equipment, net | — | 13,900 | 294,574 | 1,578,545 | — | 1,887,019 | ||||||||||||||||||
Non-current assets held for sale | — | — | 451,409 | 343,592 | — | 795,001 | ||||||||||||||||||
Deferred charges and other assets | 39,887 | 17,684 | 171,703 | 402,485 | — | 631,759 | ||||||||||||||||||
Goodwill, net | — | 647,890 | — | 1,330,731 | — | 1,978,621 | ||||||||||||||||||
Cemetery perpetual care trust investments | — | — | 206,859 | 1,135,730 | — | 1,342,589 | ||||||||||||||||||
Total assets | $ | 4,329,556 | $ | 1,366,935 | $ | 2,049,399 | $ | 10,102,303 | $ | (4,942,582 | ) | $ | 12,905,611 | |||||||||||
LIABILITIES & EQUITY | ||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 54,039 | $ | 25,723 | $ | 25,955 | $ | 371,651 | $ | — | $ | 477,368 | ||||||||||||
Current maturities of long-term debt | — | 95 | 291 | 105,319 | — | 105,705 | ||||||||||||||||||
Current liabilities held for sale | — | — | 3,484 | 1,366 | — | 4,850 | ||||||||||||||||||
Income taxes | — | 74 | 90 | 3,137 | — | 3,301 | ||||||||||||||||||
Total current liabilities | $ | 54,039 | $ | 25,892 | $ | 29,820 | $ | 481,473 | $ | — | $ | 591,224 | ||||||||||||
Long-term debt | 2,833,690 | 209,418 | 172 | 90,645 | — | 3,133,925 | ||||||||||||||||||
Deferred preneed funeral revenues | — | — | 177,046 | 495,585 | — | 672,631 | ||||||||||||||||||
Deferred preneed cemetery revenues | — | — | 106,168 | 880,370 | — | 986,538 | ||||||||||||||||||
Deferred tax liability | 1,082 | — | 152,608 | 433,301 | — | 586,991 | ||||||||||||||||||
Non-current liabilities held for sale | — | — | 208,029 | 296,394 | — | 504,423 | ||||||||||||||||||
Other liabilities | 4,318 | 14,779 | 7,168 | 378,428 | — | 404,693 | ||||||||||||||||||
Deferred preneed funeral and cemetery receipts held in trust | — | — | 473,606 | 2,772,023 | — | 3,245,629 | ||||||||||||||||||
Care trusts’ corpus | — | — | 207,309 | 1,133,052 | — | 1,340,361 | ||||||||||||||||||
Equity: | ||||||||||||||||||||||||
Common stock | 213,532 | 85,175 | 102 | 25 | (85,302 | ) | 213,532 | |||||||||||||||||
Other equity | 1,145,680 | 1,031,671 | 687,371 | 3,141,007 | (4,860,049 | ) | 1,145,680 | |||||||||||||||||
Accumulated other comprehensive income | 77,215 | — | — | — | — | 77,215 | ||||||||||||||||||
Total common stockholders’ equity | 1,436,427 | 1,116,846 | 687,473 | 3,141,032 | (4,945,351 | ) | 1,436,427 | |||||||||||||||||
Noncontrolling interests | — | — | — | — | 2,769 | 2,769 | ||||||||||||||||||
Total equity | 1,436,427 | 1,116,846 | 687,473 | 3,141,032 | (4,942,582 | ) | 1,439,196 | |||||||||||||||||
Total liabilities and equity | $ | 4,329,556 | $ | 1,366,935 | $ | 2,049,399 | $ | 10,102,303 | $ | (4,942,582 | ) | $ | 12,905,611 | |||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
ASSETS | ||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 53,543 | $ | 1,898 | $ | 89,432 | $ | — | $ | 144,873 | ||||||||||||
Receivables, net | — | 442 | 23,908 | 81,549 | — | 105,899 | ||||||||||||||||||
Inventories, net | — | — | 10,925 | 23,743 | — | 34,668 | ||||||||||||||||||
Current assets held for sale | — | — | 3,333 | 1,236 | — | 4,569 | ||||||||||||||||||
Other | 9,083 | 29,133 | 35,368 | 31,014 | — | 104,598 | ||||||||||||||||||
Total current assets | 9,083 | 83,118 | 75,432 | 226,974 | — | 394,607 | ||||||||||||||||||
Equity in subsidiaries | 4,132,098 | 828,457 | 4,546 | — | (4,965,101 | ) | — | |||||||||||||||||
Preneed funeral receivables, net and trust investments | — | — | 358,567 | 1,512,307 | — | 1,870,874 | ||||||||||||||||||
Preneed cemetery receivables, net and trust investments | — | — | 265,346 | 2,035,565 | — | 2,300,911 | ||||||||||||||||||
Cemetery property, at cost | — | — | 264,226 | 1,482,899 | — | 1,747,125 | ||||||||||||||||||
Property and equipment, net | — | 15,243 | 306,174 | 1,599,451 | — | 1,920,868 | ||||||||||||||||||
Non-current assets held for sale | — | — | 443,170 | 303,304 | — | 746,474 | ||||||||||||||||||
Deferred charges and other assets | 42,068 | 31,807 | 150,665 | 407,548 | — | 632,088 | ||||||||||||||||||
Goodwill, net | — | 624,711 | — | 1,343,524 | — | 1,968,235 | ||||||||||||||||||
Cemetery perpetual care trust investments | — | — | 223,903 | 1,123,719 | — | 1,347,622 | ||||||||||||||||||
Total assets | $ | 4,183,249 | $ | 1,583,336 | $ | 2,092,029 | $ | 10,035,291 | $ | (4,965,101 | ) | $ | 12,928,804 | |||||||||||
LIABILITIES & EQUITY | ||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 31,914 | $ | 46,020 | $ | 43,706 | $ | 365,008 | $ | — | $ | 486,648 | ||||||||||||
Current maturities of long-term debt | 30,000 | 106,939 | — | 39,423 | — | 176,362 | ||||||||||||||||||
Current liabilities held for sale | — | — | 1,647 | 1,536 | — | 3,183 | ||||||||||||||||||
Income taxes | — | 560 | 1,427 | 4,404 | — | 6,391 | ||||||||||||||||||
Total current liabilities | 61,914 | 153,519 | 46,780 | 410,371 | — | 672,584 | ||||||||||||||||||
Long-term debt | 2,701,611 | 270,578 | 89 | 153,270 | — | 3,125,548 | ||||||||||||||||||
Deferred preneed funeral revenues | — | — | 176,958 | 509,202 | — | 686,160 | ||||||||||||||||||
Deferred preneed cemetery revenues | — | — | 85,163 | 889,594 | — | 974,757 | ||||||||||||||||||
Deferred tax liability | 1,092 | — | 61,835 | 518,513 | — | 581,440 | ||||||||||||||||||
Non-current liabilities held for sale | — | — | 162,668 | 274,416 | — | 437,084 | ||||||||||||||||||
Other liabilities | 4,402 | 29,944 | 11,116 | 384,931 | — | 430,393 | ||||||||||||||||||
Deferred preneed funeral and cemetery receipts held in trust | — | — | 503,667 | 2,746,919 | — | 3,250,586 | ||||||||||||||||||
Care trusts’ corpus | — | — | 223,903 | 1,121,971 | — | 1,345,874 | ||||||||||||||||||
Equity: | ||||||||||||||||||||||||
Common stock | 212,317 | 85,175 | 102 | 25 | (85,302 | ) | 212,317 | |||||||||||||||||
Other equity | 1,113,472 | 1,044,120 | 819,748 | 2,937,638 | (4,801,506 | ) | 1,113,472 | |||||||||||||||||
Accumulated other comprehensive income | 88,441 | — | — | 88,441 | (88,441 | ) | 88,441 | |||||||||||||||||
Total common stockholders’ equity | 1,414,230 | 1,129,295 | 819,850 | 3,026,104 | (4,975,249 | ) | 1,414,230 | |||||||||||||||||
Noncontrolling interests | — | — | — | — | 10,148 | 10,148 | ||||||||||||||||||
Total equity | 1,414,230 | 1,129,295 | 819,850 | 3,026,104 | (4,965,101 | ) | 1,424,378 | |||||||||||||||||
Total liabilities and equity | $ | 4,183,249 | $ | 1,583,336 | $ | 2,092,029 | $ | 10,035,291 | $ | (4,965,101 | ) | $ | 12,928,804 | |||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (28,168 | ) | $ | (32,202 | ) | $ | 47,998 | $ | 140,259 | $ | — | $ | 127,887 | ||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Capital expenditures | — | — | (4,120 | ) | (21,102 | ) | — | (25,222 | ) | |||||||||||||||
Acquisitions, net of cash acquired | — | — | — | (779 | ) | — | (779 | ) | ||||||||||||||||
Proceeds from divestitures and sales of property and equipment | — | — | — | 2,639 | — | 2,639 | ||||||||||||||||||
Net withdrawals (deposits) of restricted funds and other | — | 2,035 | (14,260 | ) | — | — | (12,225 | ) | ||||||||||||||||
Contributions to subsidiaries | (70,858 | ) | — | — | — | 70,858 | — | |||||||||||||||||
Net cash (used in) provided by investing activities | (70,858 | ) | 2,035 | (18,380 | ) | (19,242 | ) | 70,858 | (35,587 | ) | ||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Proceeds from issuance of long-term debt | 110,000 | — | — | — | — | 110,000 | ||||||||||||||||||
Payments of debt | (7,500 | ) | — | — | (79 | ) | — | (7,579 | ) | |||||||||||||||
Early extinguishment of debt | — | (167,093 | ) | — | — | — | (167,093 | ) | ||||||||||||||||
Principal payments on capital leases | — | — | (23 | ) | (7,208 | ) | — | (7,231 | ) | |||||||||||||||
Proceeds from exercise of stock options | 7,915 | — | — | — | — | 7,915 | ||||||||||||||||||
Excess tax benefits from share based awards | 6,744 | — | — | — | — | 6,744 | ||||||||||||||||||
Purchase of Company common stock | (1,053 | ) | — | — | — | — | (1,053 | ) | ||||||||||||||||
Payments of dividends | (17,080 | ) | — | — | — | — | (17,080 | ) | ||||||||||||||||
Purchase of noncontrolling interest | — | — | — | (15,000 | ) | — | (15,000 | ) | ||||||||||||||||
Bank overdrafts and other | — | — | — | 3,762 | — | 3,762 | ||||||||||||||||||
Contributions from (distributions to) parent | — | 165,058 | (30,740 | ) | (63,460 | ) | (70,858 | ) | — | |||||||||||||||
Net cash provided by (used in) financing activities | 99,026 | (2,035 | ) | (30,763 | ) | (81,985 | ) | (70,858 | ) | (86,615 | ) | |||||||||||||
Effect of foreign currency | — | — | — | (1,939 | ) | — | (1,939 | ) | ||||||||||||||||
Net decrease (increase) in cash and cash equivalents | — | (32,202 | ) | (1,145 | ) | 37,093 | — | 3,746 | ||||||||||||||||
Cash and cash equivalents at beginning of period | — | 53,543 | 1,898 | 89,432 | — | 144,873 | ||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 21,341 | $ | 753 | $ | 126,525 | $ | — | $ | 148,619 | ||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||
Parent | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (1,261 | ) | $ | 152,385 | $ | — | $ | 151,124 | |||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Capital expenditures | — | (22,569 | ) | — | (22,569 | ) | ||||||||||||||||||
Proceeds from divestitures and sales of property and equipment | — | 1,816 | — | 1,816 | ||||||||||||||||||||
Net withdrawals (deposits) of restricted funds and other | — | 339 | — | 339 | ||||||||||||||||||||
Distributions from subsidiaries | 16,558 | — | (16,558 | ) | — | |||||||||||||||||||
Net cash provided by (used in) investing activities | 16,558 | (20,414 | ) | (16,558 | ) | (20,414 | ) | |||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Payments of debt | (4,757 | ) | (191 | ) | — | (4,948 | ) | |||||||||||||||||
Principal payments on capital leases | — | (6,468 | ) | — | (6,468 | ) | ||||||||||||||||||
Proceeds from exercise of stock options | 3,094 | — | — | 3,094 | ||||||||||||||||||||
Excess tax benefits from share based awards | 772 | — | — | 772 | ||||||||||||||||||||
Purchase of Company common stock | (1,708 | ) | — | — | (1,708 | ) | ||||||||||||||||||
Payments of dividends | (12,698 | ) | — | — | (12,698 | ) | ||||||||||||||||||
Distributions to parent | — | (16,558 | ) | 16,558 | — | |||||||||||||||||||
Purchase of noncontrolling interest | — | (8,333 | ) | — | (8,333 | ) | ||||||||||||||||||
Bank overdrafts and other | — | (4,004 | ) | — | (4,004 | ) | ||||||||||||||||||
Net cash (used in) provided by financing activities | (15,297 | ) | (35,554 | ) | 16,558 | (34,293 | ) | |||||||||||||||||
Effect of foreign currency | — | (579 | ) | — | (579 | ) | ||||||||||||||||||
Net increase in cash and cash equivalents | — | 95,838 | — | 95,838 | ||||||||||||||||||||
Cash and cash equivalents at beginning of period | — | 92,708 | — | 92,708 | ||||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 188,546 | $ | — | $ | 188,546 | ||||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Consolidation, Policy [Policy Text Block] | ' |
Principles of Consolidation and Basis of Presentation | |
Our unaudited condensed consolidated financial statements include the accounts of Service Corporation International (SCI) and all subsidiaries in which we hold a controlling financial interest. Our financial statements also include the accounts of the funeral merchandise and service trusts, cemetery merchandise and service trusts, and cemetery perpetual care trusts in which we have a variable interest and are the primary beneficiary. Our interim condensed consolidated financial statements are unaudited but include all adjustments, consisting of normal recurring accruals and any other adjustments, which management considers necessary for a fair statement of our results for these periods. Our unaudited condensed consolidated financial statements have been prepared in a manner consistent with the accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2013, unless otherwise disclosed herein, and should be read in conjunction therewith. The accompanying year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year period. | |
Reclassifications | |
Certain reclassifications have been made to prior period amounts to conform to the current period financial statement presentation with no effect on our previously reported results of operations, consolidated financial position, or cash flows. | |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates in the Preparation of Financial Statements | |
The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions as described in our Annual Report on Form 10-K for the year ended December 31, 2013. These estimates and assumptions may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. As a result, actual results could differ from these estimates. | |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' |
Preneed Funeral and Cemetery Receivables | |
We sell preneed funeral and cemetery contracts whereby the customer enters into arrangements for future merchandise and services prior to the time of need. As these contracts are entered into prior to the delivery of the related goods and services, the preneed funeral and cemetery receivables are offset by a comparable deferred revenue amount. These receivables generally have an interest component for which interest income is recorded when the interest amount is considered collectible and realizable, which typically coincides with cash payment. We do not accrue interest on financing receivables that are not paid in accordance with the contractual payment date given the nature of our goods and services, the nature of our contracts with customers, and the timing of the delivery of our services. We do not consider receivables to be past due until the service or goods are required to be delivered at which time the preneed receivable is paid or reclassified as a trade receivable with payment terms of less than 30 days. As the preneed funeral and cemetery receivables are offset by comparable deferred revenue amounts, we have no risk of loss related to these receivables. | |
If a preneed contract is canceled prior to delivery, state or provincial law governs the amount of the refund owed to the customer, if any, including the amount of the attributed investment earnings. Upon cancellation, we receive the amount of principal deposited to the trust and previously undistributed net investment earnings and, where required, issue a refund to the customer. We retain excess funds, if any, and recognize the attributed investment earnings (net of any investment earnings payable to the customer) as revenue in the consolidated statement of operations. In certain jurisdictions, we may be obligated to fund any shortfall if the amount deposited by the customers exceed the funds in trust. Based on our historical experience, we have provided an allowance for cancellation of these receivables, which is recorded as a reduction in receivables with a corresponding offset to deferred revenue. | |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | ' |
Our funeral merchandise and service trusts are variable interest entities as defined in the Consolidation Topic of the ASC. In accordance with this guidance, we have determined that we are the primary beneficiary of these trusts, as we absorb a majority of the losses and returns associated with these trusts. Our cemetery trust investments detailed in Notes 5 and 6 are also accounted for as variable interest entities. | |
Our cemetery merchandise and service trusts are variable interest entities as defined in the Consolidation Topic of the ASC. In accordance with this guidance, we have determined that we are the primary beneficiary of these trusts, as we absorb a majority of the losses and returns associated with these trusts. The trust investments detailed in Notes 4 and 6 are also accounted for as variable interest entities. | |
Our cemetery perpetual care trusts are variable interest entities as defined in the Consolidation Topic of the ASC. In accordance with this guidance, we have determined that we are the primary beneficiary of these trusts, as we absorb a majority of the losses and returns associated with these trusts. The merchandise and service trust investments detailed in Notes 4 and 5 are also accounted for as variable interest entities. | |
Funeral and Cemetery cash flow [Policy Text Block] | ' |
Cash flows from preneed funeral contracts are presented as operating cash flows in our unaudited condensed consolidated statement of cash flows. | |
Cash flows from preneed cemetery contracts are presented as operating cash flows in our unaudited condensed consolidated statement of cash flows. | |
Cash flows from cemetery perpetual care trusts are presented as operating cash flows in our unaudited condensed consolidated statement of cash flows. | |
Revenue Recognition, Deferred Revenue [Policy Text Block] | ' |
These earnings are recorded in Deferred preneed funeral revenues until the service is performed or the merchandise is delivered. | |
These earnings are recorded in Deferred preneed cemetery revenues until the service is performed or the merchandise is delivered. | |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
Where quoted prices are available in an active market, securities held by the common trust funds and mutual funds are classified as Level 1 investments pursuant to the three-level valuation hierarchy as required by the Fair Value Measurements and Disclosure (FVM&D) Topic of the ASC. | |
Where quoted market prices are not available for the specific security, fair values are estimated by using either quoted prices of securities with similar characteristics or an income approach fair value model with observable inputs that include a combination of interest rates, yield curves, credit risks, prepayment speeds, rating, and tax-exempt status. These funds are classified as Level 2 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | |
The valuation of private equity and other alternative investments requires management judgment due to the absence of quoted market prices, inherent lack of liquidity, and the long-term nature of such assets. The fair value of these investments is estimated based on the market value of the underlying real estate and private equity investments. The underlying real estate value is determined using the most recent available appraisals. Private equity instruments are valued based on reported net asset values discounted by 0% to 20% for risk and 0% to 10% for liquidity. A significant increase (decrease) in the discounts results in a directionally opposite change in the fair value of the instruments. Valuation policies and procedures are determined by our Trust Services department, which reports to our Chief Financial Officer. Additionally, valuations are reviewed by our investment committee quarterly. These funds are classified as Level 3 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | |
Where quoted prices are available in an active market, securities held by the common trust funds and mutual funds are classified as Level 1 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | |
Where quoted market prices are not available for the specific security, fair values are estimated by using either quoted prices of securities with similar characteristics or an income approach fair value model with observable inputs that include a combination of interest rates, yield curves, credit risks, prepayment speeds, rating, and tax-exempt status. These funds are classified as Level 2 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | |
The valuation of private equity and other alternative investments requires management judgment due to the absence of quoted market prices, inherent lack of liquidity, and the long-term nature of such assets. The fair value of these investments is estimated based on the market value of the underlying real estate and private equity investments. The underlying real estate value is determined using the most recent available appraisals. Private equity instruments are valued based on reported net asset values discounted by 0% to 20% for risk and 0% to 10% for liquidity. A significant increase (decrease) in the discounts results in a directionally opposite change in the fair value of the instruments. Valuation policies and procedures are determined by our Trust Services department, which reports to our Chief Financial Officer. Additionally, valuations are reviewed by our investment committee quarterly. These funds are classified as Level 3 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | |
Where quoted prices are available in an active market, securities held by the common trust funds and mutual funds are classified as Level 1 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | |
Where quoted market prices are not available for the specific security, fair values are estimated by using either quoted prices of securities with similar characteristics or an income approach fair value model with observable inputs that include a combination of interest rates, yield curves, credit risks, prepayment speeds, rating, and tax-exempt status. These funds are classified as Level 2 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | |
The valuation of private equity and other alternative investments requires management judgment due to the absence of quoted market prices, inherent lack of liquidity, and the long-term nature of such assets. The fair value of these investments is estimated based on the market value of the underlying real estate and private equity investments. The underlying real estate value is determined using the most recent available appraisals. Private equity instruments are valued based on reported net asset values discounted by 0% to 20% for risk and 0% to 10% for liquidity. A significant increase (decrease) in the discounts results in a directionally opposite change in the fair value of the instruments.Valuation policies and procedures are determined by our Trust Services department, which reports to our Chief Financial Officer. Additionally, valuations are reviewed by our investment committee quarterly. These funds are classified as Level 3 investments pursuant to the three-level valuation hierarchy as required by the FVM&D Topic of the ASC. | |
The fair values of our long-term, fixed rate loans were estimated using market prices for those loans, and therefore they are classified within Level 1 of the Fair Value Measurements hierarchy as required by the FVM&D Topic of the ASC. The bank credit agreement and the mortgage and other debt are classified within Level 3 of the Fair Value Measurements hierarchy. The fair values of these instruments have been estimated using discounted cash flow analysis based on our incremental borrowing rate for similar borrowing arrangements. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
Earnings from all our funeral merchandise and service trust investments are recognized in funeral revenues when a service is performed or merchandise is delivered. Fees charged by our wholly-owned registered investment advisor are also included in current revenues in the period in which they are earned. In addition, we are entitled to retain, in certain jurisdictions, a portion of collected customer payments when a customer cancels a preneed contract; these amounts are also recognized in current revenues. | |
Earnings from all our cemetery merchandise and service trust investments are recognized in current cemetery revenues when a service is performed or merchandise is delivered. Fees charged by our wholly-owned registered investment advisor are also included in current revenues in the period in which they are earned. In addition, we are entitled to retain, in certain jurisdictions, a portion of collected customer payments when a customer cancels a preneed contract; these amounts are also recognized in current revenues. | |
Distributable earnings from these cemetery perpetual care trust investments are recognized in current cemetery revenues to the extent we incur qualifying cemetery maintenance costs. Fees charged by our wholly-owned registered investment advisor are also included in current revenues in the period in which they are earned. | |
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block] | ' |
We assess our trust investments for other-than-temporary declines in fair value on a quarterly basis. Impairment charges resulting from this assessment are recognized as investment losses in Other income (expense), net and a decrease to Preneed funeral receivables, net and trust investments. These investment losses, if any, are offset by the corresponding reclassification in Other income (expense), net, which reduces Deferred preneed funeral receipts held in trust. | |
We assess our trust investments for other-than-temporary declines in fair value on a quarterly basis. Impairment charges resulting from this assessment are recognized as investment losses in Other income (expense), net and a decrease to Preneed cemetery receivables, net and trust investments. These investment losses, if any, are offset by the corresponding reclassification in Other income (expense), net, which reduces Deferred preneed cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed cemetery receipts held in trust | |
We assess our trust investments for other-than-temporary declines in fair value on a quarterly basis. Impairment charges resulting from this assessment are recognized as investment losses in Other income (expense), net and a decrease to Cemetery perpetual care trust investments. These investment losses, if any, are offset by the corresponding reclassification in Other income (expense), net, which reduces Care trusts’ corpus. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' |
We utilize the Black-Scholes option valuation model for estimating the fair value of our stock options. | |
Segment Reporting, Policy [Policy Text Block] | ' |
Our operations are both product based and geographically based, and the reportable operating segments presented below include our funeral and cemetery operations. | |
Earnings Per Share, Policy [Policy Text Block] | ' |
Basic earnings per common share (EPS) excludes dilution and is computed by dividing Net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common shares that then shared in our earnings. | |
The computation of diluted EPS excludes outstanding stock options and convertible debt in certain periods in which the inclusion of such options and debt would be anti-dilutive in the periods presented. |
Preneed_Funeral_Activities_Tab
Preneed Funeral Activities (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
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 values and the duration of unrealized losses as of March 31, 2014 are shown in the following tables: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 38,848 | $ | (4,286 | ) | $ | 19,559 | $ | (2,269 | ) | 58,407 | (6,555 | ) | |||||||||||
Canadian government | 11,259 | (82 | ) | 1,113 | (33 | ) | 12,372 | (115 | ) | |||||||||||||||
Corporate | 10,154 | (271 | ) | 2,718 | (130 | ) | 12,872 | (401 | ) | |||||||||||||||
Residential mortgage-backed | 169 | (3 | ) | 4 | — | 173 | (3 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2,260 | (45 | ) | — | — | 2,260 | (45 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 82,419 | (5,575 | ) | 2,909 | (195 | ) | 85,328 | (5,770 | ) | |||||||||||||||
Canada | 1,843 | (123 | ) | 2,395 | (768 | ) | 4,238 | (891 | ) | |||||||||||||||
Other international | 8,190 | (699 | ) | 625 | (80 | ) | 8,815 | (779 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 2,199 | (27 | ) | 14,643 | (1,458 | ) | 16,842 | (1,485 | ) | |||||||||||||||
Fixed income | 84,375 | (2,637 | ) | 69,182 | (24,706 | ) | 153,557 | (27,343 | ) | |||||||||||||||
Private equity | — | — | 6,707 | (4,686 | ) | 6,707 | (4,686 | ) | ||||||||||||||||
Other | — | — | 279 | (6 | ) | 279 | (6 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 241,716 | $ | (13,748 | ) | $ | 120,134 | $ | (34,331 | ) | $ | 361,850 | $ | (48,079 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 45,120 | $ | (6,040 | ) | $ | 25,043 | $ | (2,836 | ) | $ | 70,163 | $ | (8,876 | ) | |||||||||
Canadian government | 9,424 | (120 | ) | 3,066 | (141 | ) | 12,490 | (261 | ) | |||||||||||||||
Corporate | 15,050 | (424 | ) | 3,073 | (222 | ) | 18,123 | (646 | ) | |||||||||||||||
Residential mortgage-backed | 145 | (2 | ) | 2 | — | 147 | (2 | ) | ||||||||||||||||
Asset-backed | 3,257 | (13 | ) | — | — | 3,257 | (13 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 5,604 | (123 | ) | — | — | 5,604 | (123 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 46,317 | (2,648 | ) | 3,489 | (583 | ) | 49,806 | (3,231 | ) | |||||||||||||||
Canada | 1,569 | (502 | ) | 1,935 | (433 | ) | 3,504 | (935 | ) | |||||||||||||||
Other international | 4,344 | (124 | ) | 702 | (76 | ) | 5,046 | (200 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 3,858 | (54 | ) | 14,477 | (1,650 | ) | 18,335 | (1,704 | ) | |||||||||||||||
Fixed income | 134,669 | (5,527 | ) | 64,009 | (28,122 | ) | 198,678 | (33,649 | ) | |||||||||||||||
Private equity | — | — | 6,589 | (5,153 | ) | 6,589 | (5,153 | ) | ||||||||||||||||
Other | — | — | 282 | (33 | ) | 282 | (33 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 269,357 | $ | (15,577 | ) | $ | 122,667 | $ | (39,249 | ) | $ | 392,024 | $ | (54,826 | ) | |||||||||
Our cemetery perpetual care trust investment unrealized losses, their associated fair values and the duration of unrealized losses, are shown in the following tables. | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 1,247 | $ | (11 | ) | $ | 2 | $ | — | $ | 1,249 | $ | (11 | ) | ||||||||||
Canadian government | 18,422 | (146 | ) | 1,818 | (58 | ) | 20,240 | (204 | ) | |||||||||||||||
Corporate | 15,687 | (148 | ) | 3,204 | (161 | ) | 18,891 | (309 | ) | |||||||||||||||
Residential mortgage-backed | 685 | (14 | ) | 11 | (1 | ) | 696 | (15 | ) | |||||||||||||||
Asset-backed | 391 | (4 | ) | 15 | — | 406 | (4 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 3,362 | (57 | ) | 46 | (5 | ) | 3,408 | (62 | ) | |||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 25,383 | (1,519 | ) | 2,755 | (782 | ) | 28,138 | (2,301 | ) | |||||||||||||||
Canada | 1,233 | (35 | ) | 1,664 | (544 | ) | 2,897 | (579 | ) | |||||||||||||||
Other international | 1,847 | (21 | ) | 1,020 | (145 | ) | 2,867 | (166 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 397 | (15 | ) | 118 | (12 | ) | 515 | (27 | ) | |||||||||||||||
Fixed income | 49,171 | (893 | ) | 9,632 | (237 | ) | 58,803 | (1,130 | ) | |||||||||||||||
Private equity | — | — | 20,256 | (8,753 | ) | 20,256 | (8,753 | ) | ||||||||||||||||
Other | 14 | (10 | ) | 9,891 | — | 9,905 | (10 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 117,839 | $ | (2,873 | ) | $ | 50,432 | $ | (10,698 | ) | $ | 168,271 | $ | (13,571 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 1,339 | $ | (14 | ) | $ | 20 | $ | — | $ | 1,359 | $ | (14 | ) | ||||||||||
Canadian government | 15,777 | (214 | ) | 5,131 | (245 | ) | 20,908 | (459 | ) | |||||||||||||||
Corporate | 22,534 | (129 | ) | 3,299 | (134 | ) | 25,833 | (263 | ) | |||||||||||||||
Residential mortgage-backed | 2,960 | (18 | ) | 10 | (1 | ) | 2,970 | (19 | ) | |||||||||||||||
Asset-backed | 2,835 | (10 | ) | 15 | (1 | ) | 2,850 | (11 | ) | |||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 14,650 | (245 | ) | 44 | (7 | ) | 14,694 | (252 | ) | |||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 23,825 | (1,561 | ) | 3,254 | (526 | ) | 27,079 | (2,087 | ) | |||||||||||||||
Canada | 667 | (129 | ) | 1,794 | (494 | ) | 2,461 | (623 | ) | |||||||||||||||
Other international | 1,540 | (54 | ) | 525 | (113 | ) | 2,065 | (167 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 391 | (14 | ) | 163 | (21 | ) | 554 | (35 | ) | |||||||||||||||
Fixed income | 181,701 | (2,090 | ) | 28,507 | (508 | ) | 210,208 | (2,598 | ) | |||||||||||||||
Private equity | — | — | 19,242 | (9,002 | ) | 19,242 | (9,002 | ) | ||||||||||||||||
Other | — | — | 9,738 | (84 | ) | 9,738 | (84 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 268,219 | $ | (4,478 | ) | $ | 71,742 | $ | (11,136 | ) | $ | 339,961 | $ | (15,614 | ) | |||||||||
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 | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Deposits | $ | 27,923 | $ | 22,199 | ||||||||||||||||||||
Withdrawals | 43,737 | 32,705 | ||||||||||||||||||||||
Purchases of available-for-sale securities | 61,485 | 60,979 | ||||||||||||||||||||||
Sales of available-for-sale securities | 64,051 | 96,704 | ||||||||||||||||||||||
Realized gains from sales of available-for-sale securities | 16,101 | 11,371 | ||||||||||||||||||||||
Realized losses from sales of available-for-sale securities | (1,474 | ) | (1,721 | ) | ||||||||||||||||||||
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 March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Trust investments, at fair value | $ | 1,415,235 | $ | 1,422,942 | ||||||||||||||||||||
Cash and cash equivalents | 132,471 | 128,216 | ||||||||||||||||||||||
Assets associated with businesses held for sale | (159,808 | ) | (163,436 | ) | ||||||||||||||||||||
Insurance-backed fixed income securities | 279,236 | 280,969 | ||||||||||||||||||||||
Trust investments | 1,667,134 | 1,668,691 | ||||||||||||||||||||||
Receivables from customers | 255,606 | 254,294 | ||||||||||||||||||||||
Unearned finance charge | (6,826 | ) | (6,772 | ) | ||||||||||||||||||||
1,915,914 | 1,916,213 | |||||||||||||||||||||||
Allowance for cancellation | (44,375 | ) | (45,339 | ) | ||||||||||||||||||||
Preneed funeral receivables, net and trust investments | $ | 1,871,539 | $ | 1,870,874 | ||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | |||||||||||||||||||||||
The cost and fair values associated with our funeral merchandise and service trust investments recorded at fair value at March 31, 2014 and December 31, 2013 are detailed below. Cost reflects the investment (net of redemptions) of control holders in common trust funds, mutual funds, and private equity investments. Fair value represents the market value of the underlying securities held by the common trust funds, mutual funds at published values, and the estimated fair value of private equity investments (including debt as well as the estimated fair value related to the contract holder’s equity in majority-owned real estate investments). | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 99,924 | $ | 1,435 | $ | (4,221 | ) | $ | 97,138 | ||||||||||||||
Canadian government | 2 | 94,793 | 151 | (1,066 | ) | 93,878 | ||||||||||||||||||
Corporate | 2 | 56,892 | 3,965 | (361 | ) | 60,496 | ||||||||||||||||||
Residential mortgage-backed | 2 | 2,424 | 26 | (33 | ) | 2,417 | ||||||||||||||||||
Asset-backed | 2 | 3,358 | 65 | — | 3,423 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 29,322 | 1,921 | (45 | ) | 31,198 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 369,338 | 75,887 | (6,397 | ) | 438,828 | ||||||||||||||||||
Canada | 1 | 25,182 | 4,721 | (970 | ) | 28,933 | ||||||||||||||||||
Other international | 1 | 34,811 | 4,904 | (480 | ) | 39,235 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 262,636 | 23,887 | (2,132 | ) | 284,391 | ||||||||||||||||||
Fixed income | 1 | 313,960 | 5,785 | (15,800 | ) | 303,945 | ||||||||||||||||||
Private equity | 3 | 32,568 | 3,069 | (8,123 | ) | 27,514 | ||||||||||||||||||
Other | 3 | 3,455 | 384 | — | 3,839 | |||||||||||||||||||
Trust investments | $ | 1,328,663 | $ | 126,200 | $ | (39,628 | ) | $ | 1,415,235 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 110,511 | $ | 1,299 | $ | (5,599 | ) | $ | 106,211 | ||||||||||||||
Canadian government | 2 | 100,263 | 81 | (1,113 | ) | 99,231 | ||||||||||||||||||
Corporate | 2 | 64,042 | 3,515 | (691 | ) | 66,866 | ||||||||||||||||||
Residential mortgage-backed | 2 | 2,408 | 23 | (33 | ) | 2,398 | ||||||||||||||||||
Asset-backed | 2 | 3,366 | — | (10 | ) | 3,356 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 30,107 | 754 | (235 | ) | 30,626 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 364,721 | 77,963 | (2,928 | ) | 439,756 | ||||||||||||||||||
Canada | 1 | 27,634 | 4,346 | (1,216 | ) | 30,764 | ||||||||||||||||||
Other international | 1 | 35,519 | 4,986 | (199 | ) | 40,306 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 257,256 | 22,530 | (2,303 | ) | 277,483 | ||||||||||||||||||
Fixed income | 1 | 313,606 | 3,228 | (19,577 | ) | 297,257 | ||||||||||||||||||
Private equity | 3 | 32,909 | 2,702 | (8,726 | ) | 26,885 | ||||||||||||||||||
Other | 3 | 1,545 | 291 | (33 | ) | 1,803 | ||||||||||||||||||
Trust investments | $ | 1,343,887 | $ | 121,718 | $ | (42,663 | ) | $ | 1,422,942 | |||||||||||||||
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 | ||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | |||||||||||||||||||||||
Private Equity | Other | Private Equity | Other | |||||||||||||||||||||
Fair value, beginning balance | $ | 26,885 | $ | 1,803 | $ | 17,879 | $ | 744 | ||||||||||||||||
Net unrealized gains (losses) included in Accumulated other comprehensive income(1) | (470 | ) | 2,036 | 10,850 | 509 | |||||||||||||||||||
Net realized losses included in Other income (expense), net(2) | (8 | ) | — | (5 | ) | (1 | ) | |||||||||||||||||
Purchases | 1,887 | — | — | — | ||||||||||||||||||||
Contributions | 467 | — | 637 | — | ||||||||||||||||||||
Distributions | (1,247 | ) | — | (3,630 | ) | — | ||||||||||||||||||
Fair value, ending balance | $ | 27,514 | $ | 3,839 | $ | 25,731 | $ | 1,252 | ||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||||||
Maturity dates of our fixed income securities range from 2014 to 2043. Maturities of fixed income securities, excluding mutual funds, at March 31, 2014 are estimated as follows: | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Due in one year or less | $ | 132,873 | ||||||||||||||||||||||
Due in one to five years | 54,732 | |||||||||||||||||||||||
Due in five to ten years | 40,276 | |||||||||||||||||||||||
Thereafter | 29,471 | |||||||||||||||||||||||
$ | 257,352 | |||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | |||||||||||||||||||||||
Our funeral merchandise and service trust investment unrealized losses, their associated fair values, and the duration of unrealized losses as of March 31, 2014 and December 31, 2013, respectively, are shown in the following tables: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 22,414 | $ | (2,141 | ) | $ | 19,008 | $ | (2,080 | ) | $ | 41,422 | $ | (4,221 | ) | |||||||||
Canadian government | 4,831 | (44 | ) | 16,869 | (1,022 | ) | 21,700 | (1,066 | ) | |||||||||||||||
Corporate | 17,003 | (288 | ) | 1,182 | (73 | ) | 18,185 | (361 | ) | |||||||||||||||
Residential mortgage-backed | 1,250 | (24 | ) | 138 | (9 | ) | 1,388 | (33 | ) | |||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 1,395 | (45 | ) | — | — | 1,395 | (45 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 87,310 | (5,886 | ) | 2,539 | (511 | ) | 89,849 | (6,397 | ) | |||||||||||||||
Canada | 7,257 | (349 | ) | 1,720 | (621 | ) | 8,977 | (970 | ) | |||||||||||||||
Other international | 4,373 | (450 | ) | 307 | (30 | ) | 4,680 | (480 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 19,712 | (400 | ) | 12,319 | (1,732 | ) | 32,031 | (2,132 | ) | |||||||||||||||
Fixed income | 52,303 | (1,978 | ) | 54,279 | (13,822 | ) | 106,582 | (15,800 | ) | |||||||||||||||
Private equity | — | — | 13,265 | (8,123 | ) | 13,265 | (8,123 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 217,848 | $ | (11,605 | ) | $ | 121,626 | $ | (28,023 | ) | $ | 339,474 | $ | (39,628 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 28,693 | $ | (3,595 | ) | $ | 19,351 | $ | (2,004 | ) | $ | 48,044 | $ | (5,599 | ) | |||||||||
Canadian government | 9,546 | (120 | ) | 18,981 | (993 | ) | 28,527 | (1,113 | ) | |||||||||||||||
Corporate | 21,357 | (346 | ) | 5,654 | (345 | ) | 27,011 | (691 | ) | |||||||||||||||
Residential mortgage-backed | 1,381 | (25 | ) | 172 | (8 | ) | 1,553 | (33 | ) | |||||||||||||||
Asset-backed | 3,275 | (10 | ) | — | — | 3,275 | (10 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 14,028 | (235 | ) | — | — | 14,028 | (235 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 46,544 | (2,153 | ) | 3,327 | (775 | ) | 49,871 | (2,928 | ) | |||||||||||||||
Canada | 2,433 | (576 | ) | 1,992 | (641 | ) | 4,425 | (1,217 | ) | |||||||||||||||
Other international | 3,396 | (138 | ) | 369 | (60 | ) | 3,765 | (198 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 16,206 | (337 | ) | 12,456 | (1,966 | ) | 28,662 | (2,303 | ) | |||||||||||||||
Fixed income | 143,846 | (4,984 | ) | 38,217 | (14,593 | ) | 182,063 | (19,577 | ) | |||||||||||||||
Private equity | — | — | 13,002 | (8,726 | ) | 13,002 | (8,726 | ) | ||||||||||||||||
Other | — | — | 527 | (33 | ) | 527 | (33 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 290,705 | $ | (12,519 | ) | $ | 114,048 | $ | (30,144 | ) | $ | 404,753 | $ | (42,663 | ) | |||||||||
Preneed_Cemetery_Activities_Ta
Preneed Cemetery Activities (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Preneed Cemetery 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 values and the duration of unrealized losses as of March 31, 2014 are shown in the following tables: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 38,848 | $ | (4,286 | ) | $ | 19,559 | $ | (2,269 | ) | 58,407 | (6,555 | ) | |||||||||||
Canadian government | 11,259 | (82 | ) | 1,113 | (33 | ) | 12,372 | (115 | ) | |||||||||||||||
Corporate | 10,154 | (271 | ) | 2,718 | (130 | ) | 12,872 | (401 | ) | |||||||||||||||
Residential mortgage-backed | 169 | (3 | ) | 4 | — | 173 | (3 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2,260 | (45 | ) | — | — | 2,260 | (45 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 82,419 | (5,575 | ) | 2,909 | (195 | ) | 85,328 | (5,770 | ) | |||||||||||||||
Canada | 1,843 | (123 | ) | 2,395 | (768 | ) | 4,238 | (891 | ) | |||||||||||||||
Other international | 8,190 | (699 | ) | 625 | (80 | ) | 8,815 | (779 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 2,199 | (27 | ) | 14,643 | (1,458 | ) | 16,842 | (1,485 | ) | |||||||||||||||
Fixed income | 84,375 | (2,637 | ) | 69,182 | (24,706 | ) | 153,557 | (27,343 | ) | |||||||||||||||
Private equity | — | — | 6,707 | (4,686 | ) | 6,707 | (4,686 | ) | ||||||||||||||||
Other | — | — | 279 | (6 | ) | 279 | (6 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 241,716 | $ | (13,748 | ) | $ | 120,134 | $ | (34,331 | ) | $ | 361,850 | $ | (48,079 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 45,120 | $ | (6,040 | ) | $ | 25,043 | $ | (2,836 | ) | $ | 70,163 | $ | (8,876 | ) | |||||||||
Canadian government | 9,424 | (120 | ) | 3,066 | (141 | ) | 12,490 | (261 | ) | |||||||||||||||
Corporate | 15,050 | (424 | ) | 3,073 | (222 | ) | 18,123 | (646 | ) | |||||||||||||||
Residential mortgage-backed | 145 | (2 | ) | 2 | — | 147 | (2 | ) | ||||||||||||||||
Asset-backed | 3,257 | (13 | ) | — | — | 3,257 | (13 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 5,604 | (123 | ) | — | — | 5,604 | (123 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 46,317 | (2,648 | ) | 3,489 | (583 | ) | 49,806 | (3,231 | ) | |||||||||||||||
Canada | 1,569 | (502 | ) | 1,935 | (433 | ) | 3,504 | (935 | ) | |||||||||||||||
Other international | 4,344 | (124 | ) | 702 | (76 | ) | 5,046 | (200 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 3,858 | (54 | ) | 14,477 | (1,650 | ) | 18,335 | (1,704 | ) | |||||||||||||||
Fixed income | 134,669 | (5,527 | ) | 64,009 | (28,122 | ) | 198,678 | (33,649 | ) | |||||||||||||||
Private equity | — | — | 6,589 | (5,153 | ) | 6,589 | (5,153 | ) | ||||||||||||||||
Other | — | — | 282 | (33 | ) | 282 | (33 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 269,357 | $ | (15,577 | ) | $ | 122,667 | $ | (39,249 | ) | $ | 392,024 | $ | (54,826 | ) | |||||||||
Our cemetery perpetual care trust investment unrealized losses, their associated fair values and the duration of unrealized losses, are shown in the following tables. | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 1,247 | $ | (11 | ) | $ | 2 | $ | — | $ | 1,249 | $ | (11 | ) | ||||||||||
Canadian government | 18,422 | (146 | ) | 1,818 | (58 | ) | 20,240 | (204 | ) | |||||||||||||||
Corporate | 15,687 | (148 | ) | 3,204 | (161 | ) | 18,891 | (309 | ) | |||||||||||||||
Residential mortgage-backed | 685 | (14 | ) | 11 | (1 | ) | 696 | (15 | ) | |||||||||||||||
Asset-backed | 391 | (4 | ) | 15 | — | 406 | (4 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 3,362 | (57 | ) | 46 | (5 | ) | 3,408 | (62 | ) | |||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 25,383 | (1,519 | ) | 2,755 | (782 | ) | 28,138 | (2,301 | ) | |||||||||||||||
Canada | 1,233 | (35 | ) | 1,664 | (544 | ) | 2,897 | (579 | ) | |||||||||||||||
Other international | 1,847 | (21 | ) | 1,020 | (145 | ) | 2,867 | (166 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 397 | (15 | ) | 118 | (12 | ) | 515 | (27 | ) | |||||||||||||||
Fixed income | 49,171 | (893 | ) | 9,632 | (237 | ) | 58,803 | (1,130 | ) | |||||||||||||||
Private equity | — | — | 20,256 | (8,753 | ) | 20,256 | (8,753 | ) | ||||||||||||||||
Other | 14 | (10 | ) | 9,891 | — | 9,905 | (10 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 117,839 | $ | (2,873 | ) | $ | 50,432 | $ | (10,698 | ) | $ | 168,271 | $ | (13,571 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 1,339 | $ | (14 | ) | $ | 20 | $ | — | $ | 1,359 | $ | (14 | ) | ||||||||||
Canadian government | 15,777 | (214 | ) | 5,131 | (245 | ) | 20,908 | (459 | ) | |||||||||||||||
Corporate | 22,534 | (129 | ) | 3,299 | (134 | ) | 25,833 | (263 | ) | |||||||||||||||
Residential mortgage-backed | 2,960 | (18 | ) | 10 | (1 | ) | 2,970 | (19 | ) | |||||||||||||||
Asset-backed | 2,835 | (10 | ) | 15 | (1 | ) | 2,850 | (11 | ) | |||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 14,650 | (245 | ) | 44 | (7 | ) | 14,694 | (252 | ) | |||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 23,825 | (1,561 | ) | 3,254 | (526 | ) | 27,079 | (2,087 | ) | |||||||||||||||
Canada | 667 | (129 | ) | 1,794 | (494 | ) | 2,461 | (623 | ) | |||||||||||||||
Other international | 1,540 | (54 | ) | 525 | (113 | ) | 2,065 | (167 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 391 | (14 | ) | 163 | (21 | ) | 554 | (35 | ) | |||||||||||||||
Fixed income | 181,701 | (2,090 | ) | 28,507 | (508 | ) | 210,208 | (2,598 | ) | |||||||||||||||
Private equity | — | — | 19,242 | (9,002 | ) | 19,242 | (9,002 | ) | ||||||||||||||||
Other | — | — | 9,738 | (84 | ) | 9,738 | (84 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 268,219 | $ | (4,478 | ) | $ | 71,742 | $ | (11,136 | ) | $ | 339,961 | $ | (15,614 | ) | |||||||||
Cemetery [Member] | ' | |||||||||||||||||||||||
Preneed Cemetery 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 cemetery merchandise and service trusts: | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Deposits | $ | 28,271 | $ | 25,268 | ||||||||||||||||||||
Withdrawals | 34,348 | 29,881 | ||||||||||||||||||||||
Purchases of available-for-sale securities | 98,758 | 105,722 | ||||||||||||||||||||||
Sales of available-for-sale securities | 92,317 | 125,743 | ||||||||||||||||||||||
Realized gains from sales of available-for-sale securities | 25,532 | 16,576 | ||||||||||||||||||||||
Realized losses from sales of available-for-sale securities | (2,299 | ) | (2,170 | ) | ||||||||||||||||||||
Long-term receivable and investment components [Table Text Block] | ' | |||||||||||||||||||||||
The components of Preneed cemetery receivables, net and trust investments in our unaudited condensed consolidated balance sheet at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Trust investments, at fair value | $ | 1,551,178 | $ | 1,553,719 | ||||||||||||||||||||
Cash and cash equivalents | 144,265 | 138,459 | ||||||||||||||||||||||
Assets associated with businesses held for sale | (112,275 | ) | (107,481 | ) | ||||||||||||||||||||
Insurance-backed fixed income securities | 4 | 4 | ||||||||||||||||||||||
Trust investments | 1,583,172 | 1,584,701 | ||||||||||||||||||||||
Receivables from customers | 799,992 | 800,005 | ||||||||||||||||||||||
Unearned finance charges | (28,163 | ) | (27,873 | ) | ||||||||||||||||||||
2,355,001 | 2,356,833 | |||||||||||||||||||||||
Allowance for cancellation | (53,368 | ) | (55,922 | ) | ||||||||||||||||||||
Preneed cemetery receivables, net and trust investments | $ | 2,301,633 | $ | 2,300,911 | ||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | |||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 95,784 | $ | 1,889 | $ | (6,555 | ) | $ | 91,118 | ||||||||||||||
Canadian government | 2 | 17,872 | 197 | (115 | ) | 17,954 | ||||||||||||||||||
Corporate | 2 | 45,148 | 6,188 | (401 | ) | 50,935 | ||||||||||||||||||
Residential mortgage-backed | 2 | 395 | 3 | (3 | ) | 395 | ||||||||||||||||||
Asset-backed | 2 | 3,317 | 81 | — | 3,398 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 14,871 | 1,216 | (45 | ) | 16,042 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 434,792 | 138,660 | (5,770 | ) | 567,682 | ||||||||||||||||||
Canada | 1 | 14,972 | 4,235 | (891 | ) | 18,316 | ||||||||||||||||||
Other international | 1 | 42,993 | 9,336 | (779 | ) | 51,550 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 333,407 | 51,731 | (1,485 | ) | 383,653 | ||||||||||||||||||
Fixed income | 1 | 341,016 | 7,690 | (27,343 | ) | 321,363 | ||||||||||||||||||
Private equity | 3 | 28,281 | 3,924 | (4,686 | ) | 27,519 | ||||||||||||||||||
Other | 3 | 1,043 | 216 | (6 | ) | 1,253 | ||||||||||||||||||
Trust investments | $ | 1,373,891 | $ | 225,366 | $ | (48,079 | ) | $ | 1,551,178 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 113,621 | $ | 1,714 | $ | (8,876 | ) | $ | 106,459 | ||||||||||||||
Canadian government | 2 | 17,073 | 170 | (261 | ) | 16,982 | ||||||||||||||||||
Corporate | 2 | 48,970 | 5,262 | (646 | ) | 53,586 | ||||||||||||||||||
Residential mortgage-backed | 2 | 408 | 2 | (2 | ) | 408 | ||||||||||||||||||
Asset-backed | 2 | 3,346 | — | (13 | ) | 3,333 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 16,708 | 1,106 | (123 | ) | 17,691 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 425,246 | 147,258 | (3,231 | ) | 569,273 | ||||||||||||||||||
Canada | 1 | 15,368 | 4,063 | (935 | ) | 18,496 | ||||||||||||||||||
Other international | 1 | 44,184 | 10,079 | (200 | ) | 54,063 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 327,084 | 49,428 | (1,704 | ) | 374,808 | ||||||||||||||||||
Fixed income | 1 | 338,944 | 5,236 | (33,649 | ) | 310,531 | ||||||||||||||||||
Private equity | 3 | 28,625 | 3,372 | (5,153 | ) | 26,844 | ||||||||||||||||||
Other | 3 | 1,078 | 200 | (33 | ) | 1,245 | ||||||||||||||||||
Trust investments | $ | 1,380,655 | $ | 227,890 | $ | (54,826 | ) | $ | 1,553,719 | |||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||||||||||
The change in our market-based cemetery merchandise and service trust investments with significant unobservable inputs (Level 3) is as follows (in thousands): | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
March 31, 2014 | 31-Mar-13 | |||||||||||||||||||||||
Private Equity | Other | Private Equity | Other | |||||||||||||||||||||
Fair value, beginning balance | $ | 26,844 | $ | 1,245 | $ | 17,687 | $ | 450 | ||||||||||||||||
Net unrealized gains included in Accumulated other comprehensive income(1) | 1,487 | 9 | 11,400 | 587 | ||||||||||||||||||||
Net realized losses included in Other income (expense), net(2) | (8 | ) | (1 | ) | (7 | ) | (2 | ) | ||||||||||||||||
Contributions | 499 | — | 662 | — | ||||||||||||||||||||
Distributions | (1,303 | ) | — | (3,785 | ) | — | ||||||||||||||||||
Fair value, ending balance | $ | 27,519 | $ | 1,253 | $ | 25,957 | $ | 1,035 | ||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||||||
Maturity dates of our fixed income securities range from 2014 to 2043. Maturities of fixed income securities, excluding mutual funds, at March 31, 2014 are estimated as follows: | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Due in one year or less | $ | 8,842 | ||||||||||||||||||||||
Due in one to five years | 71,928 | |||||||||||||||||||||||
Due in five to ten years | 36,756 | |||||||||||||||||||||||
Thereafter | 46,274 | |||||||||||||||||||||||
$ | 163,800 | |||||||||||||||||||||||
Cemetery_Perpetual_Care_Trusts1
Cemetery Perpetual Care Trusts (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Cemetery Perpetual Care 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 values and the duration of unrealized losses as of March 31, 2014 are shown in the following tables: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 38,848 | $ | (4,286 | ) | $ | 19,559 | $ | (2,269 | ) | 58,407 | (6,555 | ) | |||||||||||
Canadian government | 11,259 | (82 | ) | 1,113 | (33 | ) | 12,372 | (115 | ) | |||||||||||||||
Corporate | 10,154 | (271 | ) | 2,718 | (130 | ) | 12,872 | (401 | ) | |||||||||||||||
Residential mortgage-backed | 169 | (3 | ) | 4 | — | 173 | (3 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2,260 | (45 | ) | — | — | 2,260 | (45 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 82,419 | (5,575 | ) | 2,909 | (195 | ) | 85,328 | (5,770 | ) | |||||||||||||||
Canada | 1,843 | (123 | ) | 2,395 | (768 | ) | 4,238 | (891 | ) | |||||||||||||||
Other international | 8,190 | (699 | ) | 625 | (80 | ) | 8,815 | (779 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 2,199 | (27 | ) | 14,643 | (1,458 | ) | 16,842 | (1,485 | ) | |||||||||||||||
Fixed income | 84,375 | (2,637 | ) | 69,182 | (24,706 | ) | 153,557 | (27,343 | ) | |||||||||||||||
Private equity | — | — | 6,707 | (4,686 | ) | 6,707 | (4,686 | ) | ||||||||||||||||
Other | — | — | 279 | (6 | ) | 279 | (6 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 241,716 | $ | (13,748 | ) | $ | 120,134 | $ | (34,331 | ) | $ | 361,850 | $ | (48,079 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 45,120 | $ | (6,040 | ) | $ | 25,043 | $ | (2,836 | ) | $ | 70,163 | $ | (8,876 | ) | |||||||||
Canadian government | 9,424 | (120 | ) | 3,066 | (141 | ) | 12,490 | (261 | ) | |||||||||||||||
Corporate | 15,050 | (424 | ) | 3,073 | (222 | ) | 18,123 | (646 | ) | |||||||||||||||
Residential mortgage-backed | 145 | (2 | ) | 2 | — | 147 | (2 | ) | ||||||||||||||||
Asset-backed | 3,257 | (13 | ) | — | — | 3,257 | (13 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 5,604 | (123 | ) | — | — | 5,604 | (123 | ) | ||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 46,317 | (2,648 | ) | 3,489 | (583 | ) | 49,806 | (3,231 | ) | |||||||||||||||
Canada | 1,569 | (502 | ) | 1,935 | (433 | ) | 3,504 | (935 | ) | |||||||||||||||
Other international | 4,344 | (124 | ) | 702 | (76 | ) | 5,046 | (200 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 3,858 | (54 | ) | 14,477 | (1,650 | ) | 18,335 | (1,704 | ) | |||||||||||||||
Fixed income | 134,669 | (5,527 | ) | 64,009 | (28,122 | ) | 198,678 | (33,649 | ) | |||||||||||||||
Private equity | — | — | 6,589 | (5,153 | ) | 6,589 | (5,153 | ) | ||||||||||||||||
Other | — | — | 282 | (33 | ) | 282 | (33 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 269,357 | $ | (15,577 | ) | $ | 122,667 | $ | (39,249 | ) | $ | 392,024 | $ | (54,826 | ) | |||||||||
Our cemetery perpetual care trust investment unrealized losses, their associated fair values and the duration of unrealized losses, are shown in the following tables. | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 1,247 | $ | (11 | ) | $ | 2 | $ | — | $ | 1,249 | $ | (11 | ) | ||||||||||
Canadian government | 18,422 | (146 | ) | 1,818 | (58 | ) | 20,240 | (204 | ) | |||||||||||||||
Corporate | 15,687 | (148 | ) | 3,204 | (161 | ) | 18,891 | (309 | ) | |||||||||||||||
Residential mortgage-backed | 685 | (14 | ) | 11 | (1 | ) | 696 | (15 | ) | |||||||||||||||
Asset-backed | 391 | (4 | ) | 15 | — | 406 | (4 | ) | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 3,362 | (57 | ) | 46 | (5 | ) | 3,408 | (62 | ) | |||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 25,383 | (1,519 | ) | 2,755 | (782 | ) | 28,138 | (2,301 | ) | |||||||||||||||
Canada | 1,233 | (35 | ) | 1,664 | (544 | ) | 2,897 | (579 | ) | |||||||||||||||
Other international | 1,847 | (21 | ) | 1,020 | (145 | ) | 2,867 | (166 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 397 | (15 | ) | 118 | (12 | ) | 515 | (27 | ) | |||||||||||||||
Fixed income | 49,171 | (893 | ) | 9,632 | (237 | ) | 58,803 | (1,130 | ) | |||||||||||||||
Private equity | — | — | 20,256 | (8,753 | ) | 20,256 | (8,753 | ) | ||||||||||||||||
Other | 14 | (10 | ) | 9,891 | — | 9,905 | (10 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 117,839 | $ | (2,873 | ) | $ | 50,432 | $ | (10,698 | ) | $ | 168,271 | $ | (13,571 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
In Loss Position | In Loss Position | Total | ||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | $ | 1,339 | $ | (14 | ) | $ | 20 | $ | — | $ | 1,359 | $ | (14 | ) | ||||||||||
Canadian government | 15,777 | (214 | ) | 5,131 | (245 | ) | 20,908 | (459 | ) | |||||||||||||||
Corporate | 22,534 | (129 | ) | 3,299 | (134 | ) | 25,833 | (263 | ) | |||||||||||||||
Residential mortgage-backed | 2,960 | (18 | ) | 10 | (1 | ) | 2,970 | (19 | ) | |||||||||||||||
Asset-backed | 2,835 | (10 | ) | 15 | (1 | ) | 2,850 | (11 | ) | |||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 14,650 | (245 | ) | 44 | (7 | ) | 14,694 | (252 | ) | |||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 23,825 | (1,561 | ) | 3,254 | (526 | ) | 27,079 | (2,087 | ) | |||||||||||||||
Canada | 667 | (129 | ) | 1,794 | (494 | ) | 2,461 | (623 | ) | |||||||||||||||
Other international | 1,540 | (54 | ) | 525 | (113 | ) | 2,065 | (167 | ) | |||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 391 | (14 | ) | 163 | (21 | ) | 554 | (35 | ) | |||||||||||||||
Fixed income | 181,701 | (2,090 | ) | 28,507 | (508 | ) | 210,208 | (2,598 | ) | |||||||||||||||
Private equity | — | — | 19,242 | (9,002 | ) | 19,242 | (9,002 | ) | ||||||||||||||||
Other | — | — | 9,738 | (84 | ) | 9,738 | (84 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 268,219 | $ | (4,478 | ) | $ | 71,742 | $ | (11,136 | ) | $ | 339,961 | $ | (15,614 | ) | |||||||||
Cemetery Perpetual Care [Member] | ' | |||||||||||||||||||||||
Cemetery Perpetual Care Trust Investments [Line Items] | ' | |||||||||||||||||||||||
Investment related activities [Table Text Block] | ' | |||||||||||||||||||||||
The table below sets forth certain investment-related activities associated with our cemetery perpetual care trusts: | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Deposits | $ | 11,837 | $ | 8,228 | ||||||||||||||||||||
Withdrawals | 5,885 | 9,569 | ||||||||||||||||||||||
Purchases of available-for-sale securities | 38,895 | 35,052 | ||||||||||||||||||||||
Sales of available-for-sale securities | 30,072 | 27,490 | ||||||||||||||||||||||
Realized gains from sales of available-for-sale securities | 5,045 | 3,782 | ||||||||||||||||||||||
Realized losses from sales of available-for-sale securities | (337 | ) | (322 | ) | ||||||||||||||||||||
Long-term receivable and investment components [Table Text Block] | ' | |||||||||||||||||||||||
The components of Cemetery perpetual care trust investments in our unaudited condensed consolidated balance sheet at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Trust investments, at fair value | $ | 1,373,613 | $ | 1,352,539 | ||||||||||||||||||||
Cash and cash equivalents | 81,773 | 78,509 | ||||||||||||||||||||||
Assets associated with businesses held for sale | (112,797 | ) | (83,426 | ) | ||||||||||||||||||||
Cemetery perpetual care trust investments | $ | 1,342,589 | $ | 1,347,622 | ||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | |||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 1,675 | $ | 18 | $ | (11 | ) | $ | 1,682 | ||||||||||||||
Canadian government | 2 | 29,208 | 346 | (204 | ) | 29,350 | ||||||||||||||||||
Corporate | 2 | 41,561 | 733 | (309 | ) | 41,985 | ||||||||||||||||||
Residential mortgage-backed | 2 | 4,280 | 34 | (15 | ) | 4,299 | ||||||||||||||||||
Asset-backed | 2 | 3,001 | 67 | (4 | ) | 3,064 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 26,495 | 1,431 | (62 | ) | 27,864 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 232,619 | 54,271 | (2,301 | ) | 284,589 | ||||||||||||||||||
Canada | 1 | 8,446 | 2,389 | (579 | ) | 10,256 | ||||||||||||||||||
Other international | 1 | 21,341 | 1,863 | (166 | ) | 23,038 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 40,452 | 7,385 | (27 | ) | 47,810 | ||||||||||||||||||
Fixed income | 1 | 822,406 | 45,882 | (1,130 | ) | 867,158 | ||||||||||||||||||
Private equity | 3 | 29,074 | 485 | (8,753 | ) | 20,806 | ||||||||||||||||||
Other | 3 | 10,571 | 1,151 | (10 | ) | 11,712 | ||||||||||||||||||
Cemetery perpetual care trust investments | $ | 1,271,129 | $ | 116,055 | $ | (13,571 | ) | $ | 1,373,613 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Fair Value Hierarchy Level | Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. Treasury | 2 | $ | 1,588 | $ | 9 | $ | (14 | ) | $ | 1,583 | ||||||||||||||
Canadian government | 2 | 28,487 | 301 | (459 | ) | 28,329 | ||||||||||||||||||
Corporate | 2 | 43,196 | 312 | (263 | ) | 43,245 | ||||||||||||||||||
Residential mortgage-backed | 2 | 4,258 | 14 | (19 | ) | 4,253 | ||||||||||||||||||
Asset-backed | 2 | 3,006 | 5 | (11 | ) | 3,000 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Preferred stock | 2 | 25,952 | 192 | (252 | ) | 25,892 | ||||||||||||||||||
Common stock: | ||||||||||||||||||||||||
United States | 1 | 231,156 | 53,782 | (2,087 | ) | 282,851 | ||||||||||||||||||
Canada | 1 | 8,846 | 2,222 | (623 | ) | 10,445 | ||||||||||||||||||
Other international | 1 | 20,676 | 1,319 | (167 | ) | 21,828 | ||||||||||||||||||
Mutual funds: | ||||||||||||||||||||||||
Equity | 1 | 41,282 | 5,693 | (35 | ) | 46,940 | ||||||||||||||||||
Fixed income | 1 | 819,439 | 35,963 | (2,598 | ) | 852,804 | ||||||||||||||||||
Private equity | 3 | 28,309 | 472 | (9,002 | ) | 19,779 | ||||||||||||||||||
Other | 3 | 10,521 | 1,153 | (84 | ) | 11,590 | ||||||||||||||||||
Cemetery perpetual care trust investments | $ | 1,266,716 | $ | 101,437 | $ | (15,614 | ) | $ | 1,352,539 | |||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||||||||||
The change in our market-based cemetery perpetual care trust investments with significant unobservable inputs (Level 3) is as follows (in thousands): | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | |||||||||||||||||||||||
Private Equity | Other | Private Equity | Other | |||||||||||||||||||||
Fair value, beginning balance | $ | 19,779 | $ | 11,590 | $ | 11,122 | $ | 7,659 | ||||||||||||||||
Net unrealized gains included in Accumulated other comprehensive income(1) | 727 | 128 | 6,069 | 2,729 | ||||||||||||||||||||
Net realized losses included in Other income (expense), net(2) | (12 | ) | (6 | ) | (82 | ) | (46 | ) | ||||||||||||||||
Sales | (17 | ) | — | — | — | |||||||||||||||||||
Contributions | 694 | — | 1 | — | ||||||||||||||||||||
Distributions | (365 | ) | — | (656 | ) | — | ||||||||||||||||||
Fair value, ending balance | $ | 20,806 | $ | 11,712 | $ | 16,454 | $ | 10,342 | ||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||||||
Maturity dates of our fixed income securities range from 2014 to 2043. Maturities of fixed income securities at March 31, 2014 are estimated as follows: | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Due in one year or less | $ | 15,236 | ||||||||||||||||||||||
Due in one to five years | 35,515 | |||||||||||||||||||||||
Due in five to ten years | 24,753 | |||||||||||||||||||||||
Thereafter | 4,876 | |||||||||||||||||||||||
$ | 80,380 | |||||||||||||||||||||||
Deferred_Preneed_Funeral_and_C1
Deferred Preneed Funeral and Cemetery Receipts Held in Trust and Care Trusts' Corpus (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Deferred Preneed Funeral and Cemetery Receipts Held in Trust and Care Trusts' Corpus [Abstract] | ' | |||||||||||||||||||||||
Schedule of Deferred Preneed Funeral and Cemetery Receitps Held in Trust Components [Table Text Block] | ' | |||||||||||||||||||||||
The components of Deferred preneed funeral and cemetery receipts held in trust in our unaudited condensed consolidated balance sheet at March 31, 2014 and December 31, 2013 are detailed below. | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Preneed | Preneed | Total | Preneed | Preneed | Total | |||||||||||||||||||
Funeral | Cemetery | Funeral | Cemetery | |||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
Trust investments | $ | 1,667,134 | $ | 1,583,172 | $ | 3,250,306 | $ | 1,668,691 | $ | 1,584,701 | $ | 3,253,392 | ||||||||||||
Accrued trust operating payables and other | (1,934 | ) | (2,743 | ) | (4,677 | ) | (1,108 | ) | (1,698 | ) | (2,806 | ) | ||||||||||||
Deferred preneed funeral and cemetery receipts held in trust | $ | 1,665,200 | $ | 1,580,429 | $ | 3,245,629 | $ | 1,667,583 | $ | 1,583,003 | $ | 3,250,586 | ||||||||||||
Schedule of Care Trust Corpus' Components [Table Text Block] | ' | |||||||||||||||||||||||
The components of Care trusts’ corpus in our unaudited condensed consolidated balance sheet at March 31, 2014 and December 31, 2013 are detailed below. | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Cemetery perpetual care trust investments | $ | 1,342,589 | $ | 1,347,622 | ||||||||||||||||||||
Accrued trust operating payables and other | (2,228 | ) | (1,748 | ) | ||||||||||||||||||||
Care trusts’ corpus | $ | 1,340,361 | $ | 1,345,874 | ||||||||||||||||||||
Schedule of Other Nonoperating Income, by Component [Table Text Block] | ' | |||||||||||||||||||||||
The components of Other income (expense), net in our unaudited condensed consolidated statement of operations for the three months ended March 31, 2014 and 2013 are detailed below. See Notes 4, 5, and 6 for further discussion of the amounts related to the funeral, cemetery, and cemetery perpetual care trusts. | ||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Funeral | Cemetery | Cemetery Perpetual | Other, Net | Total | ||||||||||||||||||||
Trusts | Trusts | Care Trusts | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Realized gains | $ | 16,101 | $ | 25,532 | $ | 5,045 | $ | — | $ | 46,678 | ||||||||||||||
Realized losses | (1,474 | ) | (2,299 | ) | (337 | ) | — | (4,110 | ) | |||||||||||||||
Impairment charges | (251 | ) | (339 | ) | (40 | ) | — | (630 | ) | |||||||||||||||
Interest, dividend, and other ordinary income | 5,574 | 2,495 | 9,586 | — | 17,655 | |||||||||||||||||||
Trust expenses and income taxes | (4,467 | ) | (4,815 | ) | (1,547 | ) | — | (10,829 | ) | |||||||||||||||
Net trust investment income | 15,483 | 20,574 | 12,707 | — | 48,764 | |||||||||||||||||||
Reclassification to deferred preneed funeral and cemetery receipts held in trust and care trusts’ corpus | (15,483 | ) | (20,574 | ) | (12,707 | ) | — | (48,764 | ) | |||||||||||||||
Other income (expense), net | — | — | — | 1,534 | 1,534 | |||||||||||||||||||
Total other income, net | $ | — | $ | — | $ | — | $ | 1,534 | $ | 1,534 | ||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||
Funeral | Cemetery | Cemetery Perpetual | Other, Net | Total | ||||||||||||||||||||
Trusts | Trusts | Care Trusts | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Realized gains | $ | 11,371 | $ | 16,576 | $ | 3,782 | $ | — | $ | 31,729 | ||||||||||||||
Realized losses | (1,721 | ) | (2,170 | ) | (322 | ) | — | (4,213 | ) | |||||||||||||||
Impairment charges | (200 | ) | (357 | ) | (63 | ) | — | (620 | ) | |||||||||||||||
Interest, dividend, and other ordinary income | 1,817 | 1,529 | 6,089 | — | 9,435 | |||||||||||||||||||
Trust expenses and income taxes | (2,381 | ) | (3,669 | ) | (575 | ) | — | (6,625 | ) | |||||||||||||||
Net trust investment income | 8,886 | 11,909 | 8,911 | — | 29,706 | |||||||||||||||||||
Reclassification to deferred preneed funeral and cemetery receipts held in trust and care trusts’ corpus | (8,886 | ) | (11,909 | ) | (8,911 | ) | — | (29,706 | ) | |||||||||||||||
Other income (expense), net | — | — | — | (984 | ) | (984 | ) | |||||||||||||||||
Total other income, net | $ | — | $ | — | $ | — | $ | (984 | ) | $ | (984 | ) | ||||||||||||
Debt_Tables
Debt (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt Instrument [Line Items] | ' | |||||||
Schedule of Debt [Table Text Block] | ' | |||||||
Debt as of March 31, 2014 and December 31, 2013 was as follows: | ||||||||
March 31, 2014 | December 31, 2013 | |||||||
(In thousands) | ||||||||
3.125% Senior Convertible Notes due July 2014 | $ | 95 | $ | 85,256 | ||||
6.75% Senior Notes due April 2015 | 136,465 | 136,465 | ||||||
6.75% Senior Notes due April 2016 | 197,377 | 197,377 | ||||||
3.375% Senior Convertible Notes due July 2016 | 154 | 46,279 | ||||||
7.0% Senior Notes due June 2017 | 295,000 | 295,000 | ||||||
7.625% Senior Notes due October 2018 | 250,000 | 250,000 | ||||||
6.5% Senior Notes due April 2019 | 200,000 | 200,000 | ||||||
7.0% Senior Notes due May 2019 | 250,000 | 250,000 | ||||||
4.5% Senior Notes due November 2020 | 200,000 | 200,000 | ||||||
8.0% Senior Notes due November 2021 | 150,000 | 150,000 | ||||||
5.375% Senior Notes due January 2022 | 425,000 | 425,000 | ||||||
7.5% Senior Notes due April 2027 | 200,000 | 200,000 | ||||||
Term Loan due July 2018 | 592,500 | 600,000 | ||||||
Bank credit facility due July 2018 | 140,000 | 30,000 | ||||||
Obligations under capital leases | 192,528 | 189,697 | ||||||
Mortgage notes and other debt, maturities through 2050 | 4,672 | 4,752 | ||||||
Unamortized premiums and other, net | 5,839 | 42,084 | ||||||
Total debt | 3,239,630 | 3,301,910 | ||||||
Less: | ||||||||
Current maturities of debt, capital lease obligations, and mortgage notes | (104,284 | ) | (153,738 | ) | ||||
Current maturities of unamortized premiums and other, net | (1,421 | ) | (22,624 | ) | ||||
Total current maturities | (105,705 | ) | (176,362 | ) | ||||
Total long-term debt | $ | 3,133,925 | $ | 3,125,548 | ||||
Credit_Risk_and_Fair_Value_of_1
Credit Risk and Fair Value of Financial Instruments (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Credit Risk and Fair Value of Financial Instruments [Abstract] | ' | |||||||
Fair Value, Measurement Inputs, Disclosure [Table Text Block] | ' | |||||||
The fair value of our debt instruments at March 31, 2014 and December 31, 2013 was as follows: | ||||||||
March 31, 2014 | December 31, 2013 | |||||||
(In thousands) | ||||||||
3.125% Senior Convertible Notes due July 2014 | $ | 121 | $ | 106,939 | ||||
6.75% Senior Notes due April 2015 | 143,179 | 144,653 | ||||||
6.75% Senior Notes due April 2016 | 214,647 | 214,904 | ||||||
3.375% Senior Convertible Notes due July 2016 | 185 | 60,487 | ||||||
7.0% Senior Notes due June 2017 | 331,285 | 333,259 | ||||||
7.625% Senior Notes due October 2018 | 288,438 | 288,875 | ||||||
6.5% Senior Notes due April 2019 | 210,000 | 210,000 | ||||||
7.0% Senior Notes due May 2019 | 266,250 | 270,000 | ||||||
4.5% Senior Notes due November 2020 | 196,000 | 192,610 | ||||||
8.0% Senior Notes due November 2021 | 173,625 | 173,625 | ||||||
5.375% Senior Notes due January 2022 | 434,563 | 431,588 | ||||||
7.5% Senior Notes due April 2027 | 216,500 | 215,750 | ||||||
Term Loan due July 2018 | 592,500 | 600,000 | ||||||
Bank credit facility due July 2018 | 140,000 | 30,000 | ||||||
Mortgage notes and other debt, maturities through 2050 | 4,672 | 4,752 | ||||||
Total fair value of debt instruments | $ | 3,211,965 | $ | 3,277,442 | ||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Share-based Compensation [Abstract] | ' | ||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||
The fair values of our stock options are calculated using the following weighted average assumptions for the three months ended March 31, 2014: | |||||||
Three Months Ended | |||||||
Assumptions | March 31, 2014 | ||||||
Dividend yield | 1.8 | % | |||||
Expected volatility | 27.1 | % | |||||
Risk-free interest rate | 1.1 | % | |||||
Expected holding period (in years) | 4 | ||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||
The following table sets forth stock option activity for the three months ended March 31, 2014: | |||||||
Options | Weighted-Average | ||||||
Exercise Price | |||||||
Outstanding at December 31, 2013 | 13,319,750 | $ | 9.84 | ||||
Granted | 2,495,850 | $ | 17.41 | ||||
Exercised | (964,403 | ) | $ | 8.82 | |||
Outstanding at March 31, 2014 | 14,851,197 | $ | 11.18 | ||||
Exercisable at March 31, 2014 | 10,339,379 | $ | 9.14 | ||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||
Restricted share activity for the three months ended March 31, 2014 was as follows: | |||||||
Restricted | Weighted-Average | ||||||
shares | Grant-Date | ||||||
Fair Value | |||||||
Nonvested restricted shares at December 31, 2013 | 1,183,229 | $ | 11.81 | ||||
Granted | 344,570 | $ | 17.41 | ||||
Vested | (187,549 | ) | $ | 11.44 | |||
Nonvested restricted shares at March 31, 2014 | 1,340,250 | $ | 13.3 | ||||
Equity_Tables
Equity (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Equity [Abstract] | ' | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||
Our components of Accumulated other comprehensive income are as follows: | ||||||||||||
Foreign | Unrealized | Accumulated | ||||||||||
Currency | Gains and | Other | ||||||||||
Translation | Losses | Comprehensive | ||||||||||
Adjustment | Income | |||||||||||
(In thousands) | ||||||||||||
Balance at December 31, 2013 | $ | 88,441 | $ | — | $ | 88,441 | ||||||
Activity in 2014 | (11,226 | ) | — | (11,226 | ) | |||||||
Reduction in net unrealized gains associated with available-for-sale securities of the trusts, net of taxes | — | 17,039 | 17,039 | |||||||||
Reclassification of net unrealized losses activity attributable to the Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus, net of taxes | — | (17,039 | ) | (17,039 | ) | |||||||
Balance at March 31, 2014 | $ | 77,215 | $ | — | $ | 77,215 | ||||||
Tables
(Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | |||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||
Our reportable segment information is as follows: | ||||||||||||||||
Funeral | Cemetery | Reportable | ||||||||||||||
Segments | ||||||||||||||||
(In thousands) | ||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
Revenues from external customers: | ||||||||||||||||
2014 | $ | 510,668 | $ | 236,455 | $ | 747,123 | ||||||||||
2013 | $ | 462,019 | $ | 190,333 | $ | 652,352 | ||||||||||
Gross profits: | ||||||||||||||||
2014 | $ | 119,389 | $ | 46,993 | $ | 166,382 | ||||||||||
2013 | $ | 120,131 | $ | 39,526 | $ | 159,657 | ||||||||||
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | ' | |||||||||||||||
The following table reconciles gross profits from reportable segments to our consolidated income before income taxes: | ||||||||||||||||
Three Months Ended | ||||||||||||||||
March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(In thousands) | ||||||||||||||||
Gross profits from reportable segments | $ | 166,382 | $ | 159,657 | ||||||||||||
General and administrative expenses | (56,010 | ) | (30,923 | ) | ||||||||||||
Losses on divestitures and impairment charges, net | (2,812 | ) | (969 | ) | ||||||||||||
Operating income | 107,560 | 127,765 | ||||||||||||||
Interest expense | (44,996 | ) | (32,769 | ) | ||||||||||||
Other income (expense), net | 1,534 | (984 | ) | |||||||||||||
Income before income taxes | $ | 64,098 | $ | 94,012 | ||||||||||||
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | ' | |||||||||||||||
Our geographic area information is as follows: | ||||||||||||||||
United | Canada | Germany | Total | |||||||||||||
States | ||||||||||||||||
(In thousands) | ||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
Revenues from external customers: | ||||||||||||||||
2014 | $ | 694,383 | $ | 51,126 | $ | 1,614 | $ | 747,123 | ||||||||
2013 | $ | 595,437 | $ | 54,981 | $ | 1,934 | $ | 652,352 | ||||||||
Supplementary_Information_Tabl
Supplementary Information (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Supplementary Information [Abstract] | ' | |||||||
Schedule of Product Information [Table Text Block] | ' | |||||||
The detail of certain income statement accounts as presented in the unaudited condensed consolidated statement of operations is as follows: | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Merchandise revenues: | ||||||||
Funeral | $ | 164,735 | $ | 160,329 | ||||
Cemetery | 155,392 | 129,476 | ||||||
Total merchandise revenues | 320,127 | 289,805 | ||||||
Services revenues: | ||||||||
Funeral | 311,160 | 273,830 | ||||||
Cemetery | 71,383 | 54,568 | ||||||
Total services revenues | 382,543 | 328,398 | ||||||
Other revenues | 44,453 | 34,149 | ||||||
Total revenues | $ | 747,123 | $ | 652,352 | ||||
Merchandise costs and expenses: | ||||||||
Funeral | $ | 81,954 | $ | 75,781 | ||||
Cemetery | 69,537 | 56,553 | ||||||
Total cost of merchandise | 151,491 | 132,334 | ||||||
Services costs and expenses: | ||||||||
Funeral | 159,505 | 136,124 | ||||||
Cemetery | 37,038 | 26,331 | ||||||
Total cost of services | 196,543 | 162,455 | ||||||
Overhead and other expenses | 232,707 | 197,906 | ||||||
Total costs and expenses | $ | 580,741 | $ | 492,695 | ||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | |||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||
A reconciliation of the numerators and denominators of the basic and diluted EPS computations is presented below: | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
(In thousands, except per | ||||||||
share amounts) | ||||||||
Amounts attributable to common stockholders: | ||||||||
Net income: | ||||||||
Net income — basic | $ | 41,102 | $ | 57,620 | ||||
After tax interest on convertible debt | 13 | 13 | ||||||
Net income — diluted | $ | 41,115 | $ | 57,633 | ||||
Weighted average shares (denominator): | ||||||||
Weighted average shares — basic | 212,838 | 211,380 | ||||||
Stock options | 4,272 | 3,707 | ||||||
Convertible debt | 121 | 121 | ||||||
Weighted average shares — diluted | 217,231 | 215,208 | ||||||
Net income per share: | ||||||||
Basic | $ | 0.19 | $ | 0.27 | ||||
Diluted | $ | 0.19 | $ | 0.27 | ||||
Acquisition_Tables
Acquisition (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | |||||||||||
Acquisition [Abstract] | ' | ' | ||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ' | ||||||||||
(In thousands) | ||||||||||||
Accounts receivable | $ | 14,638 | ||||||||||
Other current assets | 198,760 | |||||||||||
Cemetery property | 282,524 | |||||||||||
Property and equipment, net | 338,363 | |||||||||||
Preneed funeral and cemetery receivables and trust investments | 654,805 | |||||||||||
Finite-lived intangible assets | 77,134 | |||||||||||
Indefinite-lived intangible assets | 79,400 | |||||||||||
Acquired assets held for sale | 443,169 | |||||||||||
Deferred charges and other assets | 278,319 | |||||||||||
Goodwill | 625,295 | |||||||||||
Total assets acquired | 2,992,407 | |||||||||||
Current liabilities | 217,175 | |||||||||||
Long-term debt | 270,668 | |||||||||||
Deferred preneed funeral and cemetery revenues and deferred receipts held in trusts | 834,320 | |||||||||||
Assumed liabilities held for sale | 162,668 | |||||||||||
Deferred income taxes | 62,409 | |||||||||||
Other liabilities | 279,694 | |||||||||||
Total liabilities assumed | 1,826,934 | |||||||||||
Noncontrolling interest | 118 | |||||||||||
Net assets acquired | $ | 1,165,355 | ||||||||||
Schedule of Finite and Indefinte-lived Intangible Assets Acquired as Part of a Business Comination [Table Text Block] | ' | ' | ||||||||||
Useful life | ||||||||||||
Minimum | Maximum | Fair Value | ||||||||||
(Years) | (In thousands) | |||||||||||
Preneed customer relationships related to insurance claims | 10 | 20 | $ | 28,500 | ||||||||
Other preneed customer relationships | 10 | 14 | 21,960 | |||||||||
Selling and management agreements | 20 | 40 | 5,900 | |||||||||
Covenants-not-to-compete | 5 | 15 | 5,480 | |||||||||
Operating leases | 26 | 34 | 6,144 | |||||||||
Tradenames | 5 | 5 | 9,150 | |||||||||
Tradenames | Indefinite | 77,900 | ||||||||||
Licenses and permits | Indefinite | 1,500 | ||||||||||
Total intangible assets | $ | 156,534 | ||||||||||
Adjustments to Fair Value [Table Text Block] | ' | ' | ||||||||||
(In thousands) | ||||||||||||
Decrease in the fair value of cemetery property | 1,942 | |||||||||||
Decrease in the fair value of property and equipment, net | 2,093 | |||||||||||
Decrease in the fair value of finite-lived intangible assets | 29,146 | |||||||||||
Increase in the fair value of deferred preneed funeral and cemetery revenues and deferred receipts held in trust | 51,463 | |||||||||||
Decrease in the fair value of deferred income taxes | (37,760 | ) | ||||||||||
Other | (751 | ) | ||||||||||
Total adjustment to goodwill | 46,133 | |||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ' | ||||||||||
2013 | ||||||||||||
(In thousands) | ||||||||||||
(unaudited) | ||||||||||||
Revenue | $ | 750,105 | ||||||||||
Net income | $ | 64,218 | ||||||||||
DivestitureRelated_Activities_1
Divestiture-Related Activities Divestiture-Related Activities (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||
Gains (Losses) on Divestitures and Impairment Charges [Table Text Block] | ' | |||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
2014 | 2013 | |||||||
(Losses) gains on divestitures, net | $ | 1,927 | $ | (891 | ) | |||
Impairment losses | (4,739 | ) | (78 | ) | ||||
$ | (2,812 | ) | $ | (969 | ) |
Guarantor_Tables
Guarantor (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Condensed Consolidating Financial Statements of Guarantors of Senior Notes [Abstract] | ' | |||||||||||||||||||||||
Condensed Income Statement [Table Text Block] | ' | |||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Revenues | $ | — | $ | — | $ | 110,165 | $ | 636,958 | $ | — | $ | 747,123 | ||||||||||||
Costs and expenses | — | — | (78,197 | ) | (502,544 | ) | — | (580,741 | ) | |||||||||||||||
Gross profits | — | — | 31,968 | 134,414 | — | 166,382 | ||||||||||||||||||
General and administrative expenses | (267 | ) | (8,979 | ) | — | (46,764 | ) | — | (56,010 | ) | ||||||||||||||
Losses on divestitures and impairment charges, net | — | — | (66 | ) | (2,746 | ) | — | (2,812 | ) | |||||||||||||||
Operating income | $ | (267 | ) | $ | (8,979 | ) | $ | 31,902 | $ | 84,904 | $ | — | $ | 107,560 | ||||||||||
Interest expense | (40,593 | ) | (2,652 | ) | — | (1,751 | ) | — | (44,996 | ) | ||||||||||||||
Equity in subsidiaries | 66,917 | 19,394 | 384 | — | (86,695 | ) | — | |||||||||||||||||
Other (expense) income, net | — | (2 | ) | 1 | 1,535 | — | 1,534 | |||||||||||||||||
Income from continuing operations before income taxes | $ | 26,057 | $ | 7,761 | $ | 32,287 | $ | 84,688 | $ | (86,695 | ) | $ | 64,098 | |||||||||||
Benefit (provision) for income taxes | 15,045 | 4,691 | (12,863 | ) | (29,580 | ) | — | (22,707 | ) | |||||||||||||||
Net income | 41,102 | 12,452 | 19,424 | 55,108 | (86,695 | ) | 41,391 | |||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | (289 | ) | $ | (289 | ) | |||||||||||||||
Net income attributable to common stockholders | $ | 41,102 | $ | 12,452 | $ | 19,424 | $ | 55,108 | $ | (86,984 | ) | $ | 41,102 | |||||||||||
Condensed Consolidating Statements of Operations | ||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||
Parent | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||||
Revenues | $ | — | $ | 652,352 | $ | — | $ | 652,352 | ||||||||||||||||
Costs and expenses | — | (492,695 | ) | — | (492,695 | ) | ||||||||||||||||||
Gross profits | — | 159,657 | — | 159,657 | ||||||||||||||||||||
General and administrative expenses | (262 | ) | (30,661 | ) | — | (30,923 | ) | |||||||||||||||||
Losses on divestitures and impairment charges, net | — | (969 | ) | — | (969 | ) | ||||||||||||||||||
Operating income | (262 | ) | 128,027 | — | 127,765 | |||||||||||||||||||
Interest expense | (31,035 | ) | (1,734 | ) | — | (32,769 | ) | |||||||||||||||||
Equity in subsidiaries | 77,420 | — | (77,420 | ) | — | |||||||||||||||||||
Other (expense) income, net | — | (984 | ) | — | (984 | ) | ||||||||||||||||||
Income from continuing operations before income taxes | 46,123 | 125,309 | (77,420 | ) | 94,012 | |||||||||||||||||||
Benefit (provision) for income taxes | 11,497 | (46,787 | ) | — | (35,290 | ) | ||||||||||||||||||
Net income | 57,620 | 78,522 | (77,420 | ) | 58,722 | |||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | (1,102 | ) | (1,102 | ) | ||||||||||||||||||
Net income attributable to common stockholders | $ | 57,620 | $ | 78,522 | $ | (78,522 | ) | $ | 57,620 | |||||||||||||||
Condensed Statement of Comprehensive Income [Table Text Block] | ' | |||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Net income | $ | 41,102 | $ | 12,452 | $ | 19,424 | $ | 55,108 | $ | (86,695 | ) | $ | 41,391 | |||||||||||
Other comprehensive income | (11,226 | ) | — | — | (11,226 | ) | 10,937 | (11,515 | ) | |||||||||||||||
Total comprehensive income attributable to common stockholders | $ | 29,876 | $ | 12,452 | $ | 19,424 | $ | 43,882 | $ | (75,758 | ) | $ | 29,876 | |||||||||||
Condensed Consolidating Statements of Comprehensive Income | ||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||
Parent | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||||
Net income | $ | 57,620 | $ | 78,522 | $ | (77,420 | ) | $ | 58,722 | |||||||||||||||
Other comprehensive income | (5,512 | ) | (5,512 | ) | 4,410 | (6,614 | ) | |||||||||||||||||
Total comprehensive income attributable to common stockholders | $ | 52,108 | $ | 73,010 | $ | (73,010 | ) | $ | 52,108 | |||||||||||||||
Condensed Balance Sheet [Table Text Block] | ' | |||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
ASSETS | ||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 21,341 | $ | 753 | $ | 126,525 | $ | — | $ | 148,619 | ||||||||||||
Receivables, net | — | 909 | 5,536 | 99,368 | — | 105,813 | ||||||||||||||||||
Inventories, net | — | — | 10,194 | 24,314 | — | 34,508 | ||||||||||||||||||
Current assets held for sale | — | — | 4,164 | 1,576 | — | 5,740 | ||||||||||||||||||
Other | 9,176 | 7,668 | 34,403 | 30,077 | — | 81,324 | ||||||||||||||||||
Total current assets | $ | 9,176 | $ | 29,918 | $ | 55,050 | $ | 281,860 | $ | — | $ | 376,004 | ||||||||||||
Equity in subsidiaries | 4,280,493 | 657,543 | 4,546 | — | (4,942,582 | ) | — | |||||||||||||||||
Preneed funeral receivables, net and trust investments | — | — | 376,292 | 1,495,247 | — | 1,871,539 | ||||||||||||||||||
Preneed cemetery receivables, net and trust investments | — | — | 255,305 | 2,046,328 | — | 2,301,633 | ||||||||||||||||||
Cemetery property, at cost | — | — | 233,661 | 1,487,785 | — | 1,721,446 | ||||||||||||||||||
Property and equipment, net | — | 13,900 | 294,574 | 1,578,545 | — | 1,887,019 | ||||||||||||||||||
Non-current assets held for sale | — | — | 451,409 | 343,592 | — | 795,001 | ||||||||||||||||||
Deferred charges and other assets | 39,887 | 17,684 | 171,703 | 402,485 | — | 631,759 | ||||||||||||||||||
Goodwill, net | — | 647,890 | — | 1,330,731 | — | 1,978,621 | ||||||||||||||||||
Cemetery perpetual care trust investments | — | — | 206,859 | 1,135,730 | — | 1,342,589 | ||||||||||||||||||
Total assets | $ | 4,329,556 | $ | 1,366,935 | $ | 2,049,399 | $ | 10,102,303 | $ | (4,942,582 | ) | $ | 12,905,611 | |||||||||||
LIABILITIES & EQUITY | ||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 54,039 | $ | 25,723 | $ | 25,955 | $ | 371,651 | $ | — | $ | 477,368 | ||||||||||||
Current maturities of long-term debt | — | 95 | 291 | 105,319 | — | 105,705 | ||||||||||||||||||
Current liabilities held for sale | — | — | 3,484 | 1,366 | — | 4,850 | ||||||||||||||||||
Income taxes | — | 74 | 90 | 3,137 | — | 3,301 | ||||||||||||||||||
Total current liabilities | $ | 54,039 | $ | 25,892 | $ | 29,820 | $ | 481,473 | $ | — | $ | 591,224 | ||||||||||||
Long-term debt | 2,833,690 | 209,418 | 172 | 90,645 | — | 3,133,925 | ||||||||||||||||||
Deferred preneed funeral revenues | — | — | 177,046 | 495,585 | — | 672,631 | ||||||||||||||||||
Deferred preneed cemetery revenues | — | — | 106,168 | 880,370 | — | 986,538 | ||||||||||||||||||
Deferred tax liability | 1,082 | — | 152,608 | 433,301 | — | 586,991 | ||||||||||||||||||
Non-current liabilities held for sale | — | — | 208,029 | 296,394 | — | 504,423 | ||||||||||||||||||
Other liabilities | 4,318 | 14,779 | 7,168 | 378,428 | — | 404,693 | ||||||||||||||||||
Deferred preneed funeral and cemetery receipts held in trust | — | — | 473,606 | 2,772,023 | — | 3,245,629 | ||||||||||||||||||
Care trusts’ corpus | — | — | 207,309 | 1,133,052 | — | 1,340,361 | ||||||||||||||||||
Equity: | ||||||||||||||||||||||||
Common stock | 213,532 | 85,175 | 102 | 25 | (85,302 | ) | 213,532 | |||||||||||||||||
Other equity | 1,145,680 | 1,031,671 | 687,371 | 3,141,007 | (4,860,049 | ) | 1,145,680 | |||||||||||||||||
Accumulated other comprehensive income | 77,215 | — | — | — | — | 77,215 | ||||||||||||||||||
Total common stockholders’ equity | 1,436,427 | 1,116,846 | 687,473 | 3,141,032 | (4,945,351 | ) | 1,436,427 | |||||||||||||||||
Noncontrolling interests | — | — | — | — | 2,769 | 2,769 | ||||||||||||||||||
Total equity | 1,436,427 | 1,116,846 | 687,473 | 3,141,032 | (4,942,582 | ) | 1,439,196 | |||||||||||||||||
Total liabilities and equity | $ | 4,329,556 | $ | 1,366,935 | $ | 2,049,399 | $ | 10,102,303 | $ | (4,942,582 | ) | $ | 12,905,611 | |||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
ASSETS | ||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 53,543 | $ | 1,898 | $ | 89,432 | $ | — | $ | 144,873 | ||||||||||||
Receivables, net | — | 442 | 23,908 | 81,549 | — | 105,899 | ||||||||||||||||||
Inventories, net | — | — | 10,925 | 23,743 | — | 34,668 | ||||||||||||||||||
Current assets held for sale | — | — | 3,333 | 1,236 | — | 4,569 | ||||||||||||||||||
Other | 9,083 | 29,133 | 35,368 | 31,014 | — | 104,598 | ||||||||||||||||||
Total current assets | 9,083 | 83,118 | 75,432 | 226,974 | — | 394,607 | ||||||||||||||||||
Equity in subsidiaries | 4,132,098 | 828,457 | 4,546 | — | (4,965,101 | ) | — | |||||||||||||||||
Preneed funeral receivables, net and trust investments | — | — | 358,567 | 1,512,307 | — | 1,870,874 | ||||||||||||||||||
Preneed cemetery receivables, net and trust investments | — | — | 265,346 | 2,035,565 | — | 2,300,911 | ||||||||||||||||||
Cemetery property, at cost | — | — | 264,226 | 1,482,899 | — | 1,747,125 | ||||||||||||||||||
Property and equipment, net | — | 15,243 | 306,174 | 1,599,451 | — | 1,920,868 | ||||||||||||||||||
Non-current assets held for sale | — | — | 443,170 | 303,304 | — | 746,474 | ||||||||||||||||||
Deferred charges and other assets | 42,068 | 31,807 | 150,665 | 407,548 | — | 632,088 | ||||||||||||||||||
Goodwill, net | — | 624,711 | — | 1,343,524 | — | 1,968,235 | ||||||||||||||||||
Cemetery perpetual care trust investments | — | — | 223,903 | 1,123,719 | — | 1,347,622 | ||||||||||||||||||
Total assets | $ | 4,183,249 | $ | 1,583,336 | $ | 2,092,029 | $ | 10,035,291 | $ | (4,965,101 | ) | $ | 12,928,804 | |||||||||||
LIABILITIES & EQUITY | ||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 31,914 | $ | 46,020 | $ | 43,706 | $ | 365,008 | $ | — | $ | 486,648 | ||||||||||||
Current maturities of long-term debt | 30,000 | 106,939 | — | 39,423 | — | 176,362 | ||||||||||||||||||
Current liabilities held for sale | — | — | 1,647 | 1,536 | — | 3,183 | ||||||||||||||||||
Income taxes | — | 560 | 1,427 | 4,404 | — | 6,391 | ||||||||||||||||||
Total current liabilities | 61,914 | 153,519 | 46,780 | 410,371 | — | 672,584 | ||||||||||||||||||
Long-term debt | 2,701,611 | 270,578 | 89 | 153,270 | — | 3,125,548 | ||||||||||||||||||
Deferred preneed funeral revenues | — | — | 176,958 | 509,202 | — | 686,160 | ||||||||||||||||||
Deferred preneed cemetery revenues | — | — | 85,163 | 889,594 | — | 974,757 | ||||||||||||||||||
Deferred tax liability | 1,092 | — | 61,835 | 518,513 | — | 581,440 | ||||||||||||||||||
Non-current liabilities held for sale | — | — | 162,668 | 274,416 | — | 437,084 | ||||||||||||||||||
Other liabilities | 4,402 | 29,944 | 11,116 | 384,931 | — | 430,393 | ||||||||||||||||||
Deferred preneed funeral and cemetery receipts held in trust | — | — | 503,667 | 2,746,919 | — | 3,250,586 | ||||||||||||||||||
Care trusts’ corpus | — | — | 223,903 | 1,121,971 | — | 1,345,874 | ||||||||||||||||||
Equity: | ||||||||||||||||||||||||
Common stock | 212,317 | 85,175 | 102 | 25 | (85,302 | ) | 212,317 | |||||||||||||||||
Other equity | 1,113,472 | 1,044,120 | 819,748 | 2,937,638 | (4,801,506 | ) | 1,113,472 | |||||||||||||||||
Accumulated other comprehensive income | 88,441 | — | — | 88,441 | (88,441 | ) | 88,441 | |||||||||||||||||
Total common stockholders’ equity | 1,414,230 | 1,129,295 | 819,850 | 3,026,104 | (4,975,249 | ) | 1,414,230 | |||||||||||||||||
Noncontrolling interests | — | — | — | — | 10,148 | 10,148 | ||||||||||||||||||
Total equity | 1,414,230 | 1,129,295 | 819,850 | 3,026,104 | (4,965,101 | ) | 1,424,378 | |||||||||||||||||
Total liabilities and equity | $ | 4,183,249 | $ | 1,583,336 | $ | 2,092,029 | $ | 10,035,291 | $ | (4,965,101 | ) | $ | 12,928,804 | |||||||||||
Condensed Cash Flow Statement [Table Text Block] | ' | |||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Parent | Subsidiary Issuer | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (28,168 | ) | $ | (32,202 | ) | $ | 47,998 | $ | 140,259 | $ | — | $ | 127,887 | ||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Capital expenditures | — | — | (4,120 | ) | (21,102 | ) | — | (25,222 | ) | |||||||||||||||
Acquisitions, net of cash acquired | — | — | — | (779 | ) | — | (779 | ) | ||||||||||||||||
Proceeds from divestitures and sales of property and equipment | — | — | — | 2,639 | — | 2,639 | ||||||||||||||||||
Net withdrawals (deposits) of restricted funds and other | — | 2,035 | (14,260 | ) | — | — | (12,225 | ) | ||||||||||||||||
Contributions to subsidiaries | (70,858 | ) | — | — | — | 70,858 | — | |||||||||||||||||
Net cash (used in) provided by investing activities | (70,858 | ) | 2,035 | (18,380 | ) | (19,242 | ) | 70,858 | (35,587 | ) | ||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Proceeds from issuance of long-term debt | 110,000 | — | — | — | — | 110,000 | ||||||||||||||||||
Payments of debt | (7,500 | ) | — | — | (79 | ) | — | (7,579 | ) | |||||||||||||||
Early extinguishment of debt | — | (167,093 | ) | — | — | — | (167,093 | ) | ||||||||||||||||
Principal payments on capital leases | — | — | (23 | ) | (7,208 | ) | — | (7,231 | ) | |||||||||||||||
Proceeds from exercise of stock options | 7,915 | — | — | — | — | 7,915 | ||||||||||||||||||
Excess tax benefits from share based awards | 6,744 | — | — | — | — | 6,744 | ||||||||||||||||||
Purchase of Company common stock | (1,053 | ) | — | — | — | — | (1,053 | ) | ||||||||||||||||
Payments of dividends | (17,080 | ) | — | — | — | — | (17,080 | ) | ||||||||||||||||
Purchase of noncontrolling interest | — | — | — | (15,000 | ) | — | (15,000 | ) | ||||||||||||||||
Bank overdrafts and other | — | — | — | 3,762 | — | 3,762 | ||||||||||||||||||
Contributions from (distributions to) parent | — | 165,058 | (30,740 | ) | (63,460 | ) | (70,858 | ) | — | |||||||||||||||
Net cash provided by (used in) financing activities | 99,026 | (2,035 | ) | (30,763 | ) | (81,985 | ) | (70,858 | ) | (86,615 | ) | |||||||||||||
Effect of foreign currency | — | — | — | (1,939 | ) | — | (1,939 | ) | ||||||||||||||||
Net decrease (increase) in cash and cash equivalents | — | (32,202 | ) | (1,145 | ) | 37,093 | — | 3,746 | ||||||||||||||||
Cash and cash equivalents at beginning of period | — | 53,543 | 1,898 | 89,432 | — | 144,873 | ||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 21,341 | $ | 753 | $ | 126,525 | $ | — | $ | 148,619 | ||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||
Parent | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (1,261 | ) | $ | 152,385 | $ | — | $ | 151,124 | |||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Capital expenditures | — | (22,569 | ) | — | (22,569 | ) | ||||||||||||||||||
Proceeds from divestitures and sales of property and equipment | — | 1,816 | — | 1,816 | ||||||||||||||||||||
Net withdrawals (deposits) of restricted funds and other | — | 339 | — | 339 | ||||||||||||||||||||
Distributions from subsidiaries | 16,558 | — | (16,558 | ) | — | |||||||||||||||||||
Net cash provided by (used in) investing activities | 16,558 | (20,414 | ) | (16,558 | ) | (20,414 | ) | |||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Payments of debt | (4,757 | ) | (191 | ) | — | (4,948 | ) | |||||||||||||||||
Principal payments on capital leases | — | (6,468 | ) | — | (6,468 | ) | ||||||||||||||||||
Proceeds from exercise of stock options | 3,094 | — | — | 3,094 | ||||||||||||||||||||
Excess tax benefits from share based awards | 772 | — | — | 772 | ||||||||||||||||||||
Purchase of Company common stock | (1,708 | ) | — | — | (1,708 | ) | ||||||||||||||||||
Payments of dividends | (12,698 | ) | — | — | (12,698 | ) | ||||||||||||||||||
Distributions to parent | — | (16,558 | ) | 16,558 | — | |||||||||||||||||||
Purchase of noncontrolling interest | — | (8,333 | ) | — | (8,333 | ) | ||||||||||||||||||
Bank overdrafts and other | — | (4,004 | ) | — | (4,004 | ) | ||||||||||||||||||
Net cash (used in) provided by financing activities | (15,297 | ) | (35,554 | ) | 16,558 | (34,293 | ) | |||||||||||||||||
Effect of foreign currency | — | (579 | ) | — | (579 | ) | ||||||||||||||||||
Net increase in cash and cash equivalents | — | 95,838 | — | 95,838 | ||||||||||||||||||||
Cash and cash equivalents at beginning of period | — | 92,708 | — | 92,708 | ||||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 188,546 | $ | — | $ | 188,546 | ||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Reclassifications (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Accounting Policies [Abstract] | ' |
Reclassification of debt | $30 |
Preneed_Funeral_Activities_Inv
Preneed Funeral Activities Investment Related Activities (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Investment related activities [Line Items] | ' | ' | ' |
Realized gains from sales of available-for-sale securities | $46,678 | $31,729 | ' |
Realized losses from sales of available-for-sale securities | -4,110 | -4,213 | ' |
Funeral [Member] | ' | ' | ' |
Investment related activities [Line Items] | ' | ' | ' |
Assets of Disposal Group, Including Discontinued Operation, Current | -159,808 | ' | -163,436 |
Deposits | 27,923 | 22,199 | ' |
Withdrawals | 43,737 | 32,705 | ' |
Purchases of available-for-sale securities | 61,485 | 60,979 | ' |
Sales of available-for-sale securities | 64,051 | 96,704 | ' |
Realized gains from sales of available-for-sale securities | 16,101 | 11,371 | ' |
Realized losses from sales of available-for-sale securities | ($1,474) | ($1,721) | ' |
Preneed_Funeral_Activities_Lon
Preneed Funeral Activities Long-term Receivable and Investment (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Long-term receivable and investment components [Line Items] | ' | ' |
Preneed funeral receivables and trust investments | $1,871,539 | $1,870,874 |
Funeral [Member] | ' | ' |
Long-term receivable and investment components [Line Items] | ' | ' |
Trust investments, at market | 1,415,235 | 1,422,942 |
Cash and cash equivalents | 132,471 | 128,216 |
Insurance-backed fixed income securities | 279,236 | 280,969 |
Trust investments | 1,667,134 | 1,668,691 |
Receivables from customers | 255,606 | 254,294 |
Unearned finance charges | -6,826 | -6,772 |
Preneed funeral receivables, net and trust investments, excluding allowance for cancellation | 1,915,914 | 1,916,213 |
Allowance for cancellation | -44,375 | -45,339 |
Preneed funeral receivables and trust investments | $1,871,539 | $1,870,874 |
Preneed_Funeral_Activities_Sch
Preneed Funeral Activities Schedule of Available-for-sale Securities (Details) (Funeral [Member], USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | $1,328,663 | $1,343,887 |
Available-for-sale Securities, Gross Unrealized Gains | 126,200 | 121,718 |
Available-for-sale Securities, Gross Unrealized Losses | -39,628 | -42,663 |
Available-for-sale Securities, Fair Value | 1,415,235 | 1,422,942 |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 99,924 | 110,511 |
Available-for-sale Securities, Gross Unrealized Gains | 1,435 | 1,299 |
Available-for-sale Securities, Gross Unrealized Losses | -4,221 | -5,599 |
Available-for-sale Securities, Fair Value | 97,138 | 106,211 |
Fair Value, Inputs, Level 2 [Member] | Foreign Government Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 94,793 | 100,263 |
Available-for-sale Securities, Gross Unrealized Gains | 151 | 81 |
Available-for-sale Securities, Gross Unrealized Losses | -1,066 | -1,113 |
Available-for-sale Securities, Fair Value | 93,878 | 99,231 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 56,892 | 64,042 |
Available-for-sale Securities, Gross Unrealized Gains | 3,965 | 3,515 |
Available-for-sale Securities, Gross Unrealized Losses | -361 | -691 |
Available-for-sale Securities, Fair Value | 60,496 | 66,866 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 2,424 | 2,408 |
Available-for-sale Securities, Gross Unrealized Gains | 26 | 23 |
Available-for-sale Securities, Gross Unrealized Losses | -33 | -33 |
Available-for-sale Securities, Fair Value | 2,417 | 2,398 |
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,358 | 3,366 |
Available-for-sale Securities, Gross Unrealized Gains | 65 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | -10 |
Available-for-sale Securities, Fair Value | 3,423 | 3,356 |
Fair Value, Inputs, Level 2 [Member] | Preferred Stock securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 29,322 | 30,107 |
Available-for-sale Securities, Gross Unrealized Gains | 1,921 | 754 |
Available-for-sale Securities, Gross Unrealized Losses | -45 | -235 |
Available-for-sale Securities, Fair Value | 31,198 | 30,626 |
Fair Value, Inputs, Level 1 [Member] | US Common Stock Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 369,338 | 364,721 |
Available-for-sale Securities, Gross Unrealized Gains | 75,887 | 77,963 |
Available-for-sale Securities, Gross Unrealized Losses | -6,397 | -2,928 |
Available-for-sale Securities, Fair Value | 438,828 | 439,756 |
Fair Value, Inputs, Level 1 [Member] | Canada Common Stock Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 25,182 | 27,634 |
Available-for-sale Securities, Gross Unrealized Gains | 4,721 | 4,346 |
Available-for-sale Securities, Gross Unrealized Losses | -970 | -1,216 |
Available-for-sale Securities, Fair Value | 28,933 | 30,764 |
Fair Value, Inputs, Level 1 [Member] | Other International Common Stock Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 34,811 | 35,519 |
Available-for-sale Securities, Gross Unrealized Gains | 4,904 | 4,986 |
Available-for-sale Securities, Gross Unrealized Losses | -480 | -199 |
Available-for-sale Securities, Fair Value | 39,235 | 40,306 |
Fair Value, Inputs, Level 1 [Member] | Equity Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 262,636 | 257,256 |
Available-for-sale Securities, Gross Unrealized Gains | 23,887 | 22,530 |
Available-for-sale Securities, Gross Unrealized Losses | -2,132 | -2,303 |
Available-for-sale Securities, Fair Value | 284,391 | 277,483 |
Fair Value, Inputs, Level 1 [Member] | Fixed Income Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 313,960 | 313,606 |
Available-for-sale Securities, Gross Unrealized Gains | 5,785 | 3,228 |
Available-for-sale Securities, Gross Unrealized Losses | -15,800 | -19,577 |
Available-for-sale Securities, Fair Value | 303,945 | 297,257 |
Fair Value, Inputs, Level 3 [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 32,568 | 32,909 |
Available-for-sale Securities, Gross Unrealized Gains | 3,069 | 2,702 |
Available-for-sale Securities, Gross Unrealized Losses | -8,123 | -8,726 |
Available-for-sale Securities, Fair Value | 27,514 | 26,885 |
Fair Value, Inputs, Level 3 [Member] | Other Investments [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,455 | 1,545 |
Available-for-sale Securities, Gross Unrealized Gains | 384 | 291 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | -33 |
Available-for-sale Securities, Fair Value | $3,839 | $1,803 |
Preneed_Funeral_Activities_Lev
Preneed Funeral Activities Level 3 Activities (Details) (Funeral [Member], USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Private Equity Funds [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair market value, beginning balance | $26,885 | $17,879 | ||
Net unrealized (losses) gains included in Accumulated other comprehensive income | -470 | [1] | 10,850 | [1] |
Net realized losses included in Other income, net(2) | -8 | [2] | -5 | [2] |
Payments to Acquire Other Investments | 1,887 | 0 | ||
Contributions | 467 | 637 | ||
Distributions and other | -1,247 | -3,630 | ||
Fair market value, ending balance | 27,514 | 25,731 | ||
Other Investments [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair market value, beginning balance | 1,803 | 744 | ||
Net unrealized (losses) gains included in Accumulated other comprehensive income | 2,036 | [1] | 509 | [1] |
Net realized losses included in Other income, net(2) | 0 | [2] | -1 | [2] |
Payments to Acquire Other Investments | 0 | 0 | ||
Contributions | 0 | 0 | ||
Distributions and other | 0 | 0 | ||
Fair market value, ending balance | $3,839 | $1,252 | ||
[1] | All unrealized gains (losses)Â recognized in Accumulated other comprehensive income for our funeral merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Accumulated other comprehensive income to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. | |||
[2] | All losses recognized in Other income (expense), net for our funeral merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Other income (expense), net to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. |
Preneed_Funeral_Activities_Inv1
Preneed Funeral Activities Investments Classified by Contractual Maturity Date (Details) (Funeral [Member], USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Funeral [Member] | ' |
Investments Classified By Contractual Maturity Date [Line Items] | ' |
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value | $132,873 |
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value | 54,732 |
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value | 40,276 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 29,471 |
Available-for-sale Securities, Debt Maturities, Total, Fair Value | $257,352 |
Preneed_Funeral_Activities_Sch1
Preneed Funeral Activities Schedule of Unrealized Loss on Investments (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $217,848 | $290,705 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -11,605 | -12,519 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 121,626 | 114,048 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -28,023 | -30,144 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 339,474 | 404,753 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -39,628 | -42,663 |
US Treasury Securities [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 22,414 | 28,693 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -2,141 | -3,595 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 19,008 | 19,351 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -2,080 | -2,004 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 41,422 | 48,044 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -4,221 | -5,599 |
Foreign Government Debt Securities [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 4,831 | 9,546 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -44 | -120 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 16,869 | 18,981 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -1,022 | -993 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 21,700 | 28,527 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -1,066 | -1,113 |
Corporate Debt Securities [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 17,003 | 21,357 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -288 | -346 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,182 | 5,654 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -73 | -345 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 18,185 | 27,011 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -361 | -691 |
Residential Mortgage Backed Securities [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,250 | 1,381 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -24 | -25 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 138 | 172 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -9 | -8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,388 | 1,553 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -33 | -33 |
Asset-backed Securities [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 3,275 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | -10 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 3,275 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | -10 |
Preferred Stock securities [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,395 | 14,028 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -45 | -235 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,395 | 14,028 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -45 | -235 |
US Common Stock Securities [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 87,310 | 46,544 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -5,886 | -2,153 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,539 | 3,327 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -511 | -775 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 89,849 | 49,871 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -6,397 | -2,928 |
Canada Common Stock Securities [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 7,257 | 2,433 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -349 | -576 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,720 | 1,992 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -621 | -641 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 8,977 | 4,425 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -970 | -1,217 |
Other International Common Stock Securities [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 4,373 | 3,396 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -450 | -138 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 307 | 369 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -30 | -60 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 4,680 | 3,765 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -480 | -198 |
Equity Funds [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 19,712 | 16,206 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -400 | -337 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 12,319 | 12,456 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -1,732 | -1,966 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 32,031 | 28,662 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -2,132 | -2,303 |
Fixed Income Funds [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 52,303 | 143,846 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -1,978 | -4,984 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 54,279 | 38,217 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -13,822 | -14,593 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 106,582 | 182,063 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -15,800 | -19,577 |
Private Equity Funds [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 13,265 | 13,002 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -8,123 | -8,726 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 13,265 | 13,002 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -8,123 | -8,726 |
Other Investments [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 279 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -6 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 279 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -6 | ' |
Other Investments [Member] | Funeral [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | 527 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | -33 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 527 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | ($33) |
Preneed_Funeral_Activities_Pre
Preneed Funeral Activities Preneed Funeral Activities, Textuals (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $630,000 | $620,000 |
Funeral [Member] | ' | ' |
Available-for-sale securities, estimated maturity date, minimum | '2014 | ' |
Underlying assets liquidation range, minimum | '2 years | ' |
Fair Value, Measurement with unobservable inputs, risk discount, low end of the range | 0.00% | ' |
Fair Value, Measurement with unobservable inputs, risk discount, high end of the range | 20.00% | ' |
Fair Value, Measurement with unobservable inputs, liquidity discount, low end of the range | 0.00% | ' |
Fair Value, Measurement with unobservable inputs, liquidity discount, high end of the range | 10.00% | ' |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 7,500,000 | ' |
Investment Earnings, Net | 16,100,000 | 12,300,000 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $251,000 | $200,000 |
Underlying assets liquidation range, maximum | '10 years | ' |
Available-for-sale securities, estimated maturity date, maximum | '2043 | ' |
Preneed_Cemetery_Activities_In
Preneed Cemetery Activities Investment Related Activities (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Investment related activities [Line Items] | ' | ' | ' |
Realized gains from sales of available-for-sale securities | $46,678 | $31,729 | ' |
Realized losses from sales of available-for-sale securities | -4,110 | -4,213 | ' |
Cemetery [Member] | ' | ' | ' |
Investment related activities [Line Items] | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 241,716 | ' | 269,357 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -13,748 | ' | 15,577 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 120,134 | ' | 122,667 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -34,331 | ' | 39,249 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 361,850 | ' | 392,024 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -48,079 | ' | -54,826 |
Deposits | 28,271 | 25,268 | ' |
Withdrawals | 34,348 | 29,881 | ' |
Purchases of available-for-sale securities | 98,758 | 105,722 | ' |
Sales of available-for-sale securities | 92,317 | 125,743 | ' |
Realized gains from sales of available-for-sale securities | 25,532 | 16,576 | ' |
Realized losses from sales of available-for-sale securities | -2,299 | -2,170 | ' |
Residential Mortgage Backed Securities [Member] | Cemetery [Member] | ' | ' | ' |
Investment related activities [Line Items] | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 169 | ' | 145 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -3 | ' | -2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 4 | ' | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 173 | ' | 147 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -3 | ' | -2 |
Private Equity Funds [Member] | Cemetery [Member] | ' | ' | ' |
Investment related activities [Line Items] | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 6,707 | ' | 6,589 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -4,686 | ' | -5,153 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 6,707 | ' | 6,589 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -4,686 | ' | -5,153 |
Other Investments [Member] | ' | ' | ' |
Investment related activities [Line Items] | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 279 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -6 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 279 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -6 | ' | ' |
Other Investments [Member] | Cemetery [Member] | ' | ' | ' |
Investment related activities [Line Items] | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | ' | 282 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | ' | -33 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | ' | 282 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | ' | -33 |
Asset-backed Securities [Member] | Cemetery [Member] | ' | ' | ' |
Investment related activities [Line Items] | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 391 | ' | 3,257 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -4 | ' | -13 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 15 | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 406 | ' | 3,257 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ($4) | ' | ($13) |
Preneed_Cemetery_Activities_Lo
Preneed Cemetery Activities Long-term Receivable and Investment (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Long-term receivable and investment components [Line Items] | ' | ' |
Preneed cemetery receivables, net and trust investments | $2,301,633 | $2,300,911 |
Cemetery [Member] | ' | ' |
Long-term receivable and investment components [Line Items] | ' | ' |
Trust investments, at market | 1,551,178 | 1,553,719 |
Cash and cash equivalents | 144,265 | 138,459 |
Assets of Disposal Group, Including Discontinued Operation, Current | -112,275 | -107,481 |
Insurance-backed fixed income securities | 4 | 4 |
Trust investments | 1,583,172 | 1,584,701 |
Receivables from customers | 799,992 | 800,005 |
Unearned finance charges | -28,163 | -27,873 |
Preneed cemetery receivables, net and trust investments, excluding allowance for cancellation | 2,355,001 | 2,356,833 |
Allowance for cancellation | -53,368 | -55,922 |
Preneed cemetery receivables, net and trust investments | $2,301,633 | $2,300,911 |
Preneed_Cemetery_Activities_Sc
Preneed Cemetery Activities Schedule of Available-for-sale Securities (Details) (Cemetery [Member], USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | $1,373,891 | $1,380,655 |
Available-for-sale Securities, Gross Unrealized Gains | 225,366 | 227,890 |
Available-for-sale Securities, Gross Unrealized Losses | -48,079 | -54,826 |
Available-for-sale Securities, Fair Value | 1,551,178 | 1,553,719 |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 95,784 | 113,621 |
Available-for-sale Securities, Gross Unrealized Gains | 1,889 | 1,714 |
Available-for-sale Securities, Gross Unrealized Losses | -6,555 | -8,876 |
Available-for-sale Securities, Fair Value | 91,118 | 106,459 |
Fair Value, Inputs, Level 2 [Member] | Foreign Government Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 17,872 | 17,073 |
Available-for-sale Securities, Gross Unrealized Gains | 197 | 170 |
Available-for-sale Securities, Gross Unrealized Losses | -115 | -261 |
Available-for-sale Securities, Fair Value | 17,954 | 16,982 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 45,148 | 48,970 |
Available-for-sale Securities, Gross Unrealized Gains | 6,188 | 5,262 |
Available-for-sale Securities, Gross Unrealized Losses | -401 | -646 |
Available-for-sale Securities, Fair Value | 50,935 | 53,586 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 395 | 408 |
Available-for-sale Securities, Gross Unrealized Gains | 3 | 2 |
Available-for-sale Securities, Gross Unrealized Losses | -3 | -2 |
Available-for-sale Securities, Fair Value | 395 | 408 |
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,317 | 3,346 |
Available-for-sale Securities, Gross Unrealized Gains | 81 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | -13 |
Available-for-sale Securities, Fair Value | 3,398 | 3,333 |
Fair Value, Inputs, Level 2 [Member] | Preferred Stock securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 14,871 | 16,708 |
Available-for-sale Securities, Gross Unrealized Gains | 1,216 | 1,106 |
Available-for-sale Securities, Gross Unrealized Losses | -45 | -123 |
Available-for-sale Securities, Fair Value | 16,042 | 17,691 |
Fair Value, Inputs, Level 1 [Member] | US Common Stock Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 434,792 | 425,246 |
Available-for-sale Securities, Gross Unrealized Gains | 138,660 | 147,258 |
Available-for-sale Securities, Gross Unrealized Losses | -5,770 | -3,231 |
Available-for-sale Securities, Fair Value | 567,682 | 569,273 |
Fair Value, Inputs, Level 1 [Member] | Canada Common Stock Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 14,972 | 15,368 |
Available-for-sale Securities, Gross Unrealized Gains | 4,235 | 4,063 |
Available-for-sale Securities, Gross Unrealized Losses | -891 | -935 |
Available-for-sale Securities, Fair Value | 18,316 | 18,496 |
Fair Value, Inputs, Level 1 [Member] | Other International Common Stock Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 42,993 | 44,184 |
Available-for-sale Securities, Gross Unrealized Gains | 9,336 | 10,079 |
Available-for-sale Securities, Gross Unrealized Losses | -779 | -200 |
Available-for-sale Securities, Fair Value | 51,550 | 54,063 |
Fair Value, Inputs, Level 1 [Member] | Equity Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 333,407 | 327,084 |
Available-for-sale Securities, Gross Unrealized Gains | 51,731 | 49,428 |
Available-for-sale Securities, Gross Unrealized Losses | -1,485 | -1,704 |
Available-for-sale Securities, Fair Value | 383,653 | 374,808 |
Fair Value, Inputs, Level 1 [Member] | Fixed Income Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 341,016 | 338,944 |
Available-for-sale Securities, Gross Unrealized Gains | 7,690 | 5,236 |
Available-for-sale Securities, Gross Unrealized Losses | -27,343 | -33,649 |
Available-for-sale Securities, Fair Value | 321,363 | 310,531 |
Fair Value, Inputs, Level 3 [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 28,281 | 28,625 |
Available-for-sale Securities, Gross Unrealized Gains | 3,924 | 3,372 |
Available-for-sale Securities, Gross Unrealized Losses | -4,686 | -5,153 |
Available-for-sale Securities, Fair Value | 27,519 | 26,844 |
Fair Value, Inputs, Level 3 [Member] | Other Investments [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 1,043 | 1,078 |
Available-for-sale Securities, Gross Unrealized Gains | 216 | 200 |
Available-for-sale Securities, Gross Unrealized Losses | -6 | -33 |
Available-for-sale Securities, Fair Value | $1,253 | $1,245 |
Preneed_Cemetery_Activities_Le
Preneed Cemetery Activities Level 3 Activities (Details) (Cemetery [Member], USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Private Equity Funds [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair market value, beginning balance | $26,844 | $17,687 | ||
Net unrealized losses included in Accumulated other comprehensive income | 1,487 | [1] | 11,400 | [1] |
Net realized losses included in Other income, net(2) | -8 | [2] | -7 | [2] |
Contributions | 499 | 662 | ||
Distributions and other | -1,303 | -3,785 | ||
Fair market value, ending balance | 27,519 | 25,957 | ||
Other Investments [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair market value, beginning balance | 1,245 | 450 | ||
Net unrealized losses included in Accumulated other comprehensive income | 9 | [1] | 587 | [1] |
Net realized losses included in Other income, net(2) | -1 | [2] | -2 | [2] |
Contributions | 0 | 0 | ||
Distributions and other | 0 | 0 | ||
Fair market value, ending balance | $1,253 | $1,035 | ||
[1] | All unrealized gains (losses)Â recognized in Accumulated other comprehensive income for our funeral merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Accumulated other comprehensive income to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. | |||
[2] | All losses recognized in Other income (expense), net for our funeral merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Other income (expense), net to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. |
Preneed_Cemetery_Activities_In1
Preneed Cemetery Activities Investments Classified by Contractual Maturity Date (Details) (Cemetery [Member], USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Cemetery [Member] | ' |
Investments Classified By Contractual Maturity Date [Line Items] | ' |
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value | $8,842 |
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value | 71,928 |
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value | 36,756 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 46,274 |
Available-for-sale Securities, Debt Maturities, Total, Fair Value | $163,800 |
Preneed_Cemetery_Activities_Sc1
Preneed Cemetery Activities Schedule of Unrealized Loss on Invstments (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $241,716 | $269,357 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -13,748 | 15,577 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 120,134 | 122,667 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -34,331 | 39,249 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 361,850 | 392,024 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -48,079 | -54,826 |
US Treasury Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 38,848 | 45,120 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -4,286 | -6,040 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 19,559 | 25,043 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -2,269 | -2,836 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 58,407 | 70,163 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -6,555 | -8,876 |
Foreign Government Debt Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 11,259 | 9,424 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -82 | -120 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,113 | 3,066 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -33 | -141 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 12,372 | 12,490 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -115 | -261 |
Corporate Debt Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 10,154 | 15,050 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -271 | -424 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,718 | 3,073 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -130 | -222 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 12,872 | 18,123 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -401 | -646 |
Residential Mortgage Backed Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 169 | 145 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -3 | -2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 4 | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 173 | 147 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -3 | -2 |
Preferred Stock securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,260 | 5,604 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -45 | -123 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,260 | 5,604 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -45 | -123 |
US Common Stock Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 82,419 | 46,317 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -5,575 | -2,648 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,909 | 3,489 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -195 | -583 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 85,328 | 49,806 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -5,770 | -3,231 |
Canada Common Stock Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,843 | 1,569 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -123 | -502 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,395 | 1,935 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -768 | -433 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 4,238 | 3,504 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -891 | -935 |
Other International Common Stock Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 8,190 | 4,344 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -699 | -124 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 625 | 702 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -80 | -76 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 8,815 | 5,046 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -779 | -200 |
Equity Funds [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,199 | 3,858 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -27 | -54 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 14,643 | 14,477 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -1,458 | -1,650 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 16,842 | 18,335 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -1,485 | -1,704 |
Fixed Income Funds [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 84,375 | 134,669 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -2,637 | -5,527 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 69,182 | 64,009 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -24,706 | -28,122 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 153,557 | 198,678 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -27,343 | -33,649 |
Private Equity Funds [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 6,707 | 6,589 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -4,686 | -5,153 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 6,707 | 6,589 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -4,686 | -5,153 |
Other Investments [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 279 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -6 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 279 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -6 | ' |
Other Investments [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | 282 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | -33 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 282 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | ($33) |
Preneed_Cemetery_Activities_Pr
Preneed Cemetery Activities Preneed Cemetery Activities, Textuals (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $630,000 | $620,000 |
Cemetery [Member] | ' | ' |
Available-for-sale securities, estimated maturity date, minimum | '2014 | ' |
Fair Value, Measurement with unobservable inputs, risk discount, low end of the range | 0.00% | ' |
Fair Value, Measurement with unobservable inputs, risk discount, high end of the range | 20.00% | ' |
Fair Value, Measurement with unobservable inputs, liquidity discount, low end of the range | 0.00% | ' |
Fair Value, Measurement with unobservable inputs, liquidity discount, high end of the range | 10.00% | ' |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 7,800,000 | ' |
Investment Earnings, Net | 11,500,000 | 9,200,000 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $339,000 | $357,000 |
Underlying assets liquidation range, minimum | '2 years | ' |
Available-for-sale securities, estimated maturity date, maximum | '2043 | ' |
Underlying assets liquidation range, maximum | '10 years | ' |
Cemetery_Perpetual_Care_Trusts2
Cemetery Perpetual Care Trusts Investment Related Activities (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Investment related activities [Line Items] | ' | ' |
Realized gains from sales of available-for-sale securities | $46,678 | $31,729 |
Realized losses from sales of available-for-sale securities | -4,110 | -4,213 |
Cemetery Perpetual Care [Member] | ' | ' |
Investment related activities [Line Items] | ' | ' |
Deposits | 11,837 | 8,228 |
Withdrawals | 5,885 | 9,569 |
Purchases of available-for-sale securities | 38,895 | 35,052 |
Sales of available-for-sale securities | 30,072 | 27,490 |
Realized gains from sales of available-for-sale securities | 5,045 | 3,782 |
Realized losses from sales of available-for-sale securities | ($337) | ($322) |
Cemetery_Perpetual_Care_Trusts3
Cemetery Perpetual Care Trusts Long-term Receivable and Investment (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Long-term receivable and investment components [Line Items] | ' | ' |
Cemetery perpetual care trust investments | $1,342,589 | $1,347,622 |
Cemetery Perpetual Care [Member] | ' | ' |
Long-term receivable and investment components [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 117,839 | 268,219 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -2,873 | -4,478 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 50,432 | 71,742 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -10,698 | -11,136 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 168,271 | 339,961 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -13,571 | -15,614 |
Trust investments, at market | 1,373,613 | 1,352,539 |
Restricted Cash and Cash Equivalents | 81,773 | 78,509 |
Assets of Disposal Group, Including Discontinued Operation, Current | -112,797 | -83,426 |
Cemetery perpetual care trust investments | 1,342,589 | 1,347,622 |
Asset-backed Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Long-term receivable and investment components [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 2,835 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | -10 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | 15 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | -1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 2,850 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | -11 |
US Treasury Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Long-term receivable and investment components [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,247 | 1,339 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -11 | -14 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2 | 20 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,249 | 1,359 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -11 | -14 |
Private Equity Funds [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Long-term receivable and investment components [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 20,256 | 19,242 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -8,753 | -9,002 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 20,256 | 19,242 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -8,753 | -9,002 |
Other Investments [Member] | ' | ' |
Long-term receivable and investment components [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 279 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -6 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 279 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -6 | ' |
Other Investments [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Long-term receivable and investment components [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 14 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -10 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 9,891 | 9,738 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | -84 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 9,905 | 9,738 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ($10) | ($84) |
Cemetery_Perpetual_Care_Trusts4
Cemetery Perpetual Care Trusts Schedule of Available-for-sale Securities (Details) (Cemetery Perpetual Care [Member], USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | $1,271,129 | $1,266,716 |
Available-for-sale Securities, Gross Unrealized Gains | 116,055 | 101,437 |
Available-for-sale Securities, Gross Unrealized Losses | -13,571 | -15,614 |
Available-for-sale Securities, Fair Value | 1,373,613 | 1,352,539 |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 1,675 | 1,588 |
Available-for-sale Securities, Gross Unrealized Gains | 18 | 9 |
Available-for-sale Securities, Gross Unrealized Losses | -11 | -14 |
Available-for-sale Securities, Fair Value | 1,682 | 1,583 |
Fair Value, Inputs, Level 2 [Member] | Foreign Government Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 29,208 | 28,487 |
Available-for-sale Securities, Gross Unrealized Gains | 346 | 301 |
Available-for-sale Securities, Gross Unrealized Losses | -204 | -459 |
Available-for-sale Securities, Fair Value | 29,350 | 28,329 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 41,561 | 43,196 |
Available-for-sale Securities, Gross Unrealized Gains | 733 | 312 |
Available-for-sale Securities, Gross Unrealized Losses | -309 | -263 |
Available-for-sale Securities, Fair Value | 41,985 | 43,245 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 4,280 | 4,258 |
Available-for-sale Securities, Gross Unrealized Gains | 34 | 14 |
Available-for-sale Securities, Gross Unrealized Losses | -15 | -19 |
Available-for-sale Securities, Fair Value | 4,299 | 4,253 |
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,001 | 3,006 |
Available-for-sale Securities, Gross Unrealized Gains | 67 | 5 |
Available-for-sale Securities, Gross Unrealized Losses | -4 | -11 |
Available-for-sale Securities, Fair Value | 3,064 | 3,000 |
Fair Value, Inputs, Level 2 [Member] | Preferred Stock securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 26,495 | 25,952 |
Available-for-sale Securities, Gross Unrealized Gains | 1,431 | 192 |
Available-for-sale Securities, Gross Unrealized Losses | -62 | -252 |
Available-for-sale Securities, Fair Value | 27,864 | 25,892 |
Fair Value, Inputs, Level 1 [Member] | US Common Stock Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 232,619 | 231,156 |
Available-for-sale Securities, Gross Unrealized Gains | 54,271 | 53,782 |
Available-for-sale Securities, Gross Unrealized Losses | -2,301 | -2,087 |
Available-for-sale Securities, Fair Value | 284,589 | 282,851 |
Fair Value, Inputs, Level 1 [Member] | Canada Common Stock Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 8,446 | 8,846 |
Available-for-sale Securities, Gross Unrealized Gains | 2,389 | 2,222 |
Available-for-sale Securities, Gross Unrealized Losses | -579 | -623 |
Available-for-sale Securities, Fair Value | 10,256 | 10,445 |
Fair Value, Inputs, Level 1 [Member] | Other International Common Stock Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 21,341 | 20,676 |
Available-for-sale Securities, Gross Unrealized Gains | 1,863 | 1,319 |
Available-for-sale Securities, Gross Unrealized Losses | -166 | -167 |
Available-for-sale Securities, Fair Value | 23,038 | 21,828 |
Fair Value, Inputs, Level 1 [Member] | Equity Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 40,452 | 41,282 |
Available-for-sale Securities, Gross Unrealized Gains | 7,385 | 5,693 |
Available-for-sale Securities, Gross Unrealized Losses | -27 | -35 |
Available-for-sale Securities, Fair Value | 47,810 | 46,940 |
Fair Value, Inputs, Level 1 [Member] | Fixed Income Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 822,406 | 819,439 |
Available-for-sale Securities, Gross Unrealized Gains | 45,882 | 35,963 |
Available-for-sale Securities, Gross Unrealized Losses | -1,130 | -2,598 |
Available-for-sale Securities, Fair Value | 867,158 | 852,804 |
Fair Value, Inputs, Level 3 [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 29,074 | 28,309 |
Available-for-sale Securities, Gross Unrealized Gains | 485 | 472 |
Available-for-sale Securities, Gross Unrealized Losses | -8,753 | -9,002 |
Available-for-sale Securities, Fair Value | 20,806 | 19,779 |
Fair Value, Inputs, Level 3 [Member] | Other Investments [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 10,571 | 10,521 |
Available-for-sale Securities, Gross Unrealized Gains | 1,151 | 1,153 |
Available-for-sale Securities, Gross Unrealized Losses | -10 | -84 |
Available-for-sale Securities, Fair Value | $11,712 | $11,590 |
Cemetery_Perpetual_Care_Trusts5
Cemetery Perpetual Care Trusts Level 3 Activities (Details) (Cemetery Perpetual Care [Member], USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Private Equity Funds [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair market value, beginning balance | $19,779 | $11,122 | ||
Net unrealized (losses) gains included in Accumulated other comprehensive income | 727 | [1] | 6,069 | [1] |
Net realized gains (losses) included in Other income, net(2) | -12 | [2] | -82 | [2] |
Sales | -17 | 0 | ||
Contributions | 694 | 1 | ||
Distributions and other | -365 | -656 | ||
Fair market value, ending balance | 20,806 | 16,454 | ||
Other Investments [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair market value, beginning balance | 11,590 | 7,659 | ||
Net unrealized (losses) gains included in Accumulated other comprehensive income | 128 | [1] | 2,729 | [1] |
Net realized gains (losses) included in Other income, net(2) | -6 | [2] | -46 | [2] |
Sales | 0 | 0 | ||
Contributions | 0 | 0 | ||
Distributions and other | 0 | 0 | ||
Fair market value, ending balance | $11,712 | ' | ||
[1] | All unrealized gains (losses)Â recognized in Accumulated other comprehensive income for our funeral merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Accumulated other comprehensive income to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. | |||
[2] | All losses recognized in Other income (expense), net for our funeral merchandise and service trust investments are attributable to our preneed customers and are offset by a corresponding reclassification in Other income (expense), net to Deferred preneed funeral and cemetery receipts held in trust. See Note 7 for further information related to our Deferred preneed funeral and cemetery receipts held in trust. |
Cemetery_Perpetual_Care_Trusts6
Cemetery Perpetual Care Trusts Investments Classifed by Contractual Maturity Date (Details) (Cemetery Perpetual Care [Member], USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Cemetery Perpetual Care [Member] | ' |
Investments Classified By Contractual Maturity Date [Line Items] | ' |
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value | $15,236 |
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value | 35,515 |
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value | 24,753 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 4,876 |
Available-for-sale Securities, Debt Maturities, Total, Fair Value | $80,380 |
Cemetery_Perpetual_Care_Trusts7
Cemetery Perpetual Care Trusts Schedule of Unrealized Loss on Investments (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $117,839 | $268,219 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -2,873 | -4,478 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 50,432 | 71,742 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -10,698 | -11,136 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 168,271 | 339,961 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -13,571 | -15,614 |
Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 241,716 | 269,357 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -13,748 | 15,577 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 120,134 | 122,667 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -34,331 | 39,249 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 361,850 | 392,024 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -48,079 | -54,826 |
US Treasury Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,247 | 1,339 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -11 | -14 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2 | 20 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,249 | 1,359 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -11 | -14 |
US Treasury Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 38,848 | 45,120 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -4,286 | -6,040 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 19,559 | 25,043 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -2,269 | -2,836 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 58,407 | 70,163 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -6,555 | -8,876 |
Foreign Government Debt Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 18,422 | 15,777 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -146 | -214 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,818 | 5,131 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -58 | -245 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 20,240 | 20,908 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -204 | -459 |
Foreign Government Debt Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 11,259 | 9,424 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -82 | -120 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,113 | 3,066 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -33 | -141 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 12,372 | 12,490 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -115 | -261 |
Corporate Debt Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 15,687 | 22,534 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -148 | -129 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 3,204 | 3,299 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -161 | -134 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 18,891 | 25,833 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -309 | -263 |
Corporate Debt Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 10,154 | 15,050 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -271 | -424 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,718 | 3,073 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -130 | -222 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 12,872 | 18,123 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -401 | -646 |
Residential Mortgage Backed Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 685 | 2,960 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -14 | -18 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 11 | 10 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -1 | -1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 696 | 2,970 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -15 | -19 |
Residential Mortgage Backed Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 169 | 145 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -3 | -2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 4 | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 173 | 147 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -3 | -2 |
Asset-backed Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 2,835 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | -10 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | 15 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | -1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 2,850 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | -11 |
Asset-backed Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 391 | 3,257 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -4 | -13 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 15 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 406 | 3,257 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -4 | -13 |
Preferred Stock securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 3,362 | 14,650 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -57 | -245 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 46 | 44 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -5 | -7 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 3,408 | 14,694 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -62 | -252 |
Preferred Stock securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,260 | 5,604 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -45 | -123 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,260 | 5,604 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -45 | -123 |
US Common Stock Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 25,383 | 23,825 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -1,519 | -1,561 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,755 | 3,254 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -782 | -526 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 28,138 | 27,079 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -2,301 | -2,087 |
US Common Stock Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 82,419 | 46,317 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -5,575 | -2,648 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,909 | 3,489 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -195 | -583 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 85,328 | 49,806 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -5,770 | -3,231 |
Canada Common Stock Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,233 | 667 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -35 | -129 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,664 | 1,794 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -544 | -494 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,897 | 2,461 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -579 | -623 |
Canada Common Stock Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,843 | 1,569 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -123 | -502 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,395 | 1,935 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -768 | -433 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 4,238 | 3,504 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -891 | -935 |
Other International Common Stock Securities [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,847 | 1,540 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -21 | -54 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,020 | 525 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -145 | -113 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,867 | 2,065 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -166 | -167 |
Other International Common Stock Securities [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 8,190 | 4,344 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -699 | -124 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 625 | 702 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -80 | -76 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 8,815 | 5,046 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -779 | -200 |
Equity Funds [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 397 | 391 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -15 | -14 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 118 | 163 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -12 | -21 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 515 | 554 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -27 | -35 |
Equity Funds [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,199 | 3,858 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -27 | -54 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 14,643 | 14,477 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -1,458 | -1,650 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 16,842 | 18,335 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -1,485 | -1,704 |
Fixed Income Funds [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 49,171 | 181,701 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -893 | -2,090 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 9,632 | 28,507 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -237 | -508 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 58,803 | 210,208 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -1,130 | -2,598 |
Fixed Income Funds [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 84,375 | 134,669 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -2,637 | -5,527 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 69,182 | 64,009 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -24,706 | -28,122 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 153,557 | 198,678 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -27,343 | -33,649 |
Private Equity Funds [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 20,256 | 19,242 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -8,753 | -9,002 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 20,256 | 19,242 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -8,753 | -9,002 |
Private Equity Funds [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 6,707 | 6,589 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -4,686 | -5,153 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 6,707 | 6,589 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -4,686 | -5,153 |
Other Investments [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 279 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -6 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 279 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -6 | ' |
Other Investments [Member] | Cemetery Perpetual Care [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 14 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | -10 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 9,891 | 9,738 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | -84 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 9,905 | 9,738 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | -10 | -84 |
Other Investments [Member] | Cemetery [Member] | ' | ' |
Schedule of unrealized loss on investments [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | 282 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | -33 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 282 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | ($33) |
Cemetery_Perpetual_Care_Trusts8
Cemetery Perpetual Care Trusts Cemetery Perpetual Care Trusts, Textuals (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $630,000 | $620,000 |
Cemetery Perpetual Care [Member] | ' | ' |
Underlying assets liquidation range, maximum | '10 years | ' |
Available-for-sale securities, estimated maturity date, minimum | '2014 | ' |
Fair Value, Measurement with unobservable inputs, risk discount, low end of the range | 0.00% | ' |
Fair Value, Measurement with unobservable inputs, risk discount, high end of the range | 20.00% | ' |
Fair Value, Measurement with unobservable inputs, liquidity discount, low end of the range | 0.00% | ' |
Fair Value, Measurement with unobservable inputs, liquidity discount, high end of the range | 10.00% | ' |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 700,000 | ' |
Underlying assets liquidation range, minimum | '2 years | ' |
Investment Earnings, Net | 13,300,000 | 10,000,000 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $40,000 | $63,000 |
Available-for-sale securities, estimated maturity date, maximum | '2043 | ' |
Deferred_Preneed_Funeral_and_C2
Deferred Preneed Funeral and Cemetery Receipts Held in Trust and Care Trusts' Corpus (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Components of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Deferred preneed funeral and cemetery receipts held in trust, excluding accrued expenses | $3,250,306 | ' | $3,253,392 |
Accrued trust operating payables and other | -4,677 | ' | -2,806 |
Deferred preneed funeral and cemetery receipts held in trust | 3,245,629 | ' | 3,250,586 |
Cemetery perpetual care trust investments | 1,342,589 | ' | 1,347,622 |
Care trusts’ corpus | 1,340,361 | ' | 1,345,874 |
Realized gains from sales of available-for-sale securities | 46,678 | 31,729 | ' |
Realized losses from sales of available-for-sale securities | -4,110 | -4,213 | ' |
Impairment charges | -630 | -620 | ' |
Interest, dividend, and other ordinary income | 17,655 | 9,435 | ' |
Trust expenses and income taxes | -10,829 | -6,625 | ' |
Net trust investment income | 48,764 | 29,706 | ' |
Investment Income, Nonoperating, Effect on Deferred Preneed Receipts Held in Trust and Care Trust Corpus' | -48,764 | -29,706 | ' |
Other income, net | 1,534 | -984 | ' |
Other income (expense), net | 1,534 | -984 | ' |
Funeral [Member] | ' | ' | ' |
Components of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Deferred preneed funeral and cemetery receipts held in trust, excluding accrued expenses | 1,667,134 | ' | 1,668,691 |
Accrued trust operating payables and other | -1,934 | ' | -1,108 |
Deferred preneed funeral and cemetery receipts held in trust | 1,665,200 | ' | 1,667,583 |
Realized gains from sales of available-for-sale securities | 16,101 | 11,371 | ' |
Realized losses from sales of available-for-sale securities | -1,474 | -1,721 | ' |
Impairment charges | -251 | -200 | ' |
Interest, dividend, and other ordinary income | 5,574 | 1,817 | ' |
Trust expenses and income taxes | -4,467 | -2,381 | ' |
Net trust investment income | 15,483 | 8,886 | ' |
Investment Income, Nonoperating, Effect on Deferred Preneed Receipts Held in Trust and Care Trust Corpus' | -15,483 | -8,886 | ' |
Other income, net | 0 | 0 | ' |
Other income (expense), net | 0 | 0 | ' |
Cemetery [Member] | ' | ' | ' |
Components of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Deferred preneed funeral and cemetery receipts held in trust, excluding accrued expenses | 1,583,172 | ' | 1,584,701 |
Accrued trust operating payables and other | -2,743 | ' | -1,698 |
Deferred preneed funeral and cemetery receipts held in trust | 1,580,429 | ' | 1,583,003 |
Realized gains from sales of available-for-sale securities | 25,532 | 16,576 | ' |
Realized losses from sales of available-for-sale securities | -2,299 | -2,170 | ' |
Impairment charges | -339 | -357 | ' |
Interest, dividend, and other ordinary income | 2,495 | 1,529 | ' |
Trust expenses and income taxes | -4,815 | -3,669 | ' |
Net trust investment income | 20,574 | 11,909 | ' |
Investment Income, Nonoperating, Effect on Deferred Preneed Receipts Held in Trust and Care Trust Corpus' | -20,574 | -11,909 | ' |
Other income, net | 0 | 0 | ' |
Other income (expense), net | 0 | 0 | ' |
Cemetery Perpetual Care [Member] | ' | ' | ' |
Components of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Accrued trust operating payables and other | 2,228 | ' | -1,748 |
Care trusts' corpus, excluding accrued expenses | 1,342,589 | ' | ' |
Cemetery perpetual care trust investments | 1,342,589 | ' | 1,347,622 |
Care trusts’ corpus | 1,340,361 | ' | 1,345,874 |
Realized gains from sales of available-for-sale securities | 5,045 | 3,782 | ' |
Realized losses from sales of available-for-sale securities | -337 | -322 | ' |
Impairment charges | -40 | -63 | ' |
Interest, dividend, and other ordinary income | 9,586 | 6,089 | ' |
Trust expenses and income taxes | -1,547 | -575 | ' |
Net trust investment income | 12,707 | 8,911 | ' |
Investment Income, Nonoperating, Effect on Deferred Preneed Receipts Held in Trust and Care Trust Corpus' | -12,707 | -8,911 | ' |
Other income, net | 0 | 0 | ' |
Other income (expense), net | 0 | 0 | ' |
Intersegment Eliminations [Member] | ' | ' | ' |
Components of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Realized gains from sales of available-for-sale securities | 0 | 0 | ' |
Realized losses from sales of available-for-sale securities | 0 | 0 | ' |
Impairment charges | 0 | 0 | ' |
Interest, dividend, and other ordinary income | 0 | 0 | ' |
Trust expenses and income taxes | 0 | 0 | ' |
Net trust investment income | 0 | 0 | ' |
Investment Income, Nonoperating, Effect on Deferred Preneed Receipts Held in Trust and Care Trust Corpus' | 0 | 0 | ' |
Other income, net | 1,534 | -984 | ' |
Other income (expense), net | $1,534 | ($984) | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Income Taxes [Abstract] | ' | ' |
Effective Income Tax Rate, Continuing Operations | 35.40% | 37.50% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 0.00% | ' |
Unrecognized Tax Benefits | $136.90 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 45.3 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $0.70 | ' |
Debt_Details
Debt (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Notes Payable to Bank, Noncurrent | $592,500 | $600,000 |
Line of Credit Facility, Amount Outstanding | 140,000 | ' |
Total debt | 3,239,630 | 3,301,910 |
Long-term Debt and Capital Lease Obligations, Current | -104,284 | -153,738 |
Debt instrument, unamortized discount (premium), net, current portion | -1,421 | -22,624 |
Less current maturities | -105,705 | -176,362 |
Total long-term debt | 3,133,925 | 3,125,548 |
Unsecured Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Unamortized pricing discounts and other | 5,839 | 42,084 |
Unsecured Debt [Member] | July 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible Debt | 95 | 85,256 |
Unsecured Debt [Member] | April 2015 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 136,465 | 136,465 |
Unsecured Debt [Member] | April 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 197,377 | 197,377 |
Unsecured Debt [Member] | July 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible Debt | 154 | 46,279 |
Unsecured Debt [Member] | June 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 295,000 | 295,000 |
Unsecured Debt [Member] | October 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 250,000 | 250,000 |
Unsecured Debt [Member] | April 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 200,000 | 200,000 |
Unsecured Debt [Member] | May 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 250,000 | 250,000 |
Unsecured Debt [Member] | November 2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 200,000 | 200,000 |
Unsecured Debt [Member] | November 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 150,000 | 150,000 |
Unsecured Debt [Member] | January 2022 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 425,000 | 425,000 |
Unsecured Debt [Member] | April 2027 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | 200,000 | 200,000 |
Unsecured Debt [Member] | July 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Line of Credit Facility, Amount Outstanding | 140,000 | 30,000 |
Capital Lease Obligations [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Obligations under capital leases | 192,528 | 189,697 |
Mortgages [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Mortgage notes and other debt, maturities through 2047 | $4,672 | $4,752 |
Debt_Debt_Textuals_Details
Debt Debt, Textuals (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ' | ' | ' |
Debt, Weighted Average Interest Rate | 5.38% | ' | 5.25% |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 72.00% | ' | 76.00% |
Line of Credit Facility, Maximum Borrowing Capacity | $500,000,000 | ' | ' |
Letters of Credit, Maximum Borrowing Capacity | 175,000,000 | ' | ' |
Letters of Credit Outstanding, Amount | 31,600,000 | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.40% | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | 328,400,000 | ' | ' |
Repayments of Debt and Capital Lease Obligations | 181,900,000 | 11,400,000 | ' |
Repayments of Long-term Capital Lease Obligations | 7,231,000 | 6,468,000 | ' |
Repayments of Long-term Debt | 7,579,000 | 4,948,000 | ' |
Capital Lease Obligations Incurred | 10,700,000 | 14,900,000 | ' |
July 2014 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Repayments of Debt | 86,300,000 | ' | ' |
Repayments of Long-term Debt | 21,700,000 | ' | ' |
July 2016 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Repayments of Debt | 45,000,000 | ' | ' |
Repayments of Long-term Debt | 14,200,000 | ' | ' |
July 2018 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Repayments of Debt | $7,500,000 | ' | ' |
February 2013 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 7.88% | ' | ' |
Credit_Risk_and_Fair_Value_of_2
Credit Risk and Fair Value of Financial Instruments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Bank credit facility due March 2016 | $140,000 | ' |
Mortgage notes and other debt, maturities through 2047 | 4,672 | 4,752 |
Total fair value of debt instruments | 3,211,965 | 3,277,442 |
July 2014 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 121 | 106,939 |
April 2015 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 143,179 | 144,653 |
April 2016 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 214,647 | 214,904 |
July 2016 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 185 | 60,487 |
June 2017 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 331,285 | 333,259 |
October 2018 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 288,438 | 288,875 |
April 2019 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 210,000 | 210,000 |
May 2019 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 266,250 | 270,000 |
November 2020 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 196,000 | 192,610 |
November 2021 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 173,625 | 173,625 |
January 2022 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 434,563 | 431,588 |
April 2027 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Senior Notes | 216,500 | 215,750 |
July 2018 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Bank credit facility due March 2016 | 140,000 | 30,000 |
Mortgage notes and other debt, maturities through 2047 | $592,500 | $600,000 |
ShareBased_Compensation_Detail
Share-Based Compensation (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 761,000 | 0 |
Stock Options [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Dividend yield | 1.80% | ' |
Expected volatility | 27.10% | ' |
Risk-free interest rate | 1.10% | ' |
Expected holding period | '4 years | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' |
Options outstanding at beginning of period | 13,319,750 | ' |
Options outstanding at beginning of period, weighted average exercise price | 9.84 | ' |
Granted | 2,495,850 | ' |
Granted, weighted average exercise price | 17.41 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 964,403 | ' |
Exercised, weighted average exercise price | 8.82 | ' |
Options outstanding at end of period | 14,851,197 | ' |
Options outstanding at end of period, weighted average exercise price | 11.18 | ' |
Options exercisable at March 31, 2014 | 10,339,379 | ' |
Options exercisable at March 31, 2014, weighted average exercise price | 9.14 | ' |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' |
Nonvested restricted shares at beginning of period | 1,183,229 | ' |
Nonvested restricted shares at beginning of period, weighted average grant date fair value | 11.81 | ' |
Granted | 344,570 | ' |
Granted, weighted average grant date fair value | 17.41 | ' |
Vested | 187,549 | ' |
Vested, weighted average grant date fair value | 11.44 | ' |
Nonvested restricted shares at end of period | 1,340,250 | ' |
Nonvested restricted shares at end of period, weighted average grant date fair value | 13.3 | ' |
ShareBased_Compensation_ShareB
Share-Based Compensation Share-Based Compensation, Textuals (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Employee Stock Option [Member] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $14.60 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '1 year 7 months 7 days |
Restricted Stock [Member] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $10.80 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '1 year 7 months 7 days |
Equity_Details
Equity (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Accumulated Other Comprehensive Income (Loss) [Member] | Foreign Currency Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||
Accumulated other comprehensive income [Roll Forward] | ' | ' | ' | ' | ' |
Balance at beginning of period | $77,215 | $88,441 | $88,441 | $88,441 | $0 |
Activity in 2014 | ' | ' | -11,226 | ' | 0 |
Reduction in net unrealized gains associated with available-for-sale securities of the trusts, net of taxes | ' | ' | 17,039 | 0 | 17,039 |
Reclassification of net unrealized losses activity attributable to the Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus, net of taxes | ' | ' | -17,039 | 0 | -17,039 |
Balance at end of period | $77,215 | $88,441 | $77,215 | $77,215 | $0 |
Equity_Equity_Textuals_Details
Equity Equity, Textuals (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Dividends declared per share | $0.08 | $0.06 |
Dividends, Common Stock, Cash | $17,100,000 | ' |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 190,100,000 | ' |
Payments for Repurchase of Common Stock | $1,053,000 | $1,708,000 |
Shares repurchases under the share repurchase program | 0 | ' |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' |
Revenue from External Customers | $747,123 | $652,352 |
Gross Profit | 166,382 | 159,657 |
General and administrative expenses | -56,010 | -30,923 |
Losses on divestitures and impairment charges, net | -2,812 | -969 |
Operating Income (Loss) | 107,560 | 127,765 |
Interest expense | -44,996 | -32,769 |
Other income (expense), net | 1,534 | -984 |
Income before income taxes | 64,098 | 94,012 |
UNITED STATES | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue from External Customers | 694,383 | 595,437 |
CANADA | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue from External Customers | 51,126 | 54,981 |
GERMANY | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue from External Customers | 1,614 | 1,934 |
Funeral [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue from External Customers | 510,668 | 462,019 |
Gross Profit | 119,389 | 120,131 |
Other income (expense), net | 0 | 0 |
Cemetery [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenue from External Customers | 236,455 | 190,333 |
Gross Profit | 46,993 | 39,526 |
Other income (expense), net | $0 | $0 |
Supplementary_Information_Deta
Supplementary Information (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Product Information [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 761,000 | 0 |
Total merchandise revenues | $320,127 | $289,805 |
Total services revenues | 382,543 | 328,398 |
Other revenues | 44,453 | 34,149 |
Total revenues | 747,123 | 652,352 |
Total cost of merchandise | 151,491 | 132,334 |
Total cost of services | 196,543 | 162,455 |
Overhead and other expenses | 232,707 | 197,906 |
Total costs and expenses | 580,741 | 492,695 |
Stock Repurchased During Period, Shares | -761,000 | 0 |
Funeral [Member] | ' | ' |
Product Information [Line Items] | ' | ' |
Total merchandise revenues | 164,735 | 160,329 |
Total services revenues | 311,160 | 273,830 |
Total revenues | 510,668 | 462,019 |
Total cost of merchandise | 81,954 | 75,781 |
Total cost of services | 159,505 | 136,124 |
Cemetery [Member] | ' | ' |
Product Information [Line Items] | ' | ' |
Total merchandise revenues | 155,392 | 129,476 |
Total services revenues | 71,383 | 54,568 |
Total revenues | 236,455 | 190,333 |
Total cost of merchandise | 69,537 | 56,553 |
Total cost of services | $37,038 | $26,331 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Commitments and Contingencies [Abstract] | ' | ' |
Self Insurance Reserve | $80 | $78 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net Income (Loss) Attributable to Parent [Abstract] | ' | ' |
Net income — basic | $41,102 | $57,620 |
After tax interest on convertible debt | 13 | 13 |
Net income — diluted | $41,115 | $57,633 |
Weighted average shares (denominator): | ' | ' |
Weighted average shares — basic | -212,838 | -211,380 |
Stock options | 4,272 | 3,707 |
Convertible debt | 121 | 121 |
Weighted average shares — diluted | 217,231 | 215,208 |
Net income attributable to common stockholders | $0.19 | $0.27 |
Net income attributable to common stockholders | $0.19 | $0.27 |
Earnings_Per_Share_Earnings_Pe
Earnings Per Share Earnings Per Share, Textuals (Details) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share [Abstract] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2.7 | 1.1 |
Acquisition_Details
Acquisition (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2014 | Dec. 31, 2013 | Dec. 23, 2013 | Oct. 15, 2013 | Jun. 03, 2011 | |
Change in estimated valued of acquired cemetery property | $1,942,000 | ' | ' | ' | ' |
Business Acquisition, Pro Forma Revenue | 750,105,000 | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | ' | ' | 14,638,000 | ' | ' |
Business Acquisition, Share Price | ' | ' | $13.25 | ' | ' |
Business Combination, Consideration Transferred | ' | 1,500,000,000 | ' | ' | ' |
Business combination, debt assumed | ' | ' | 331,500,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | ' | ' | 198,760,000 | ' | ' |
Business Acquisition, Purchase Price Allocation, Cemetery property | ' | ' | 282,524,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | ' | ' | 338,363,000 | ' | ' |
Business Acquisition, Purchase Price Allocation, Preneed funeral and cemetery receivables and trust investments | ' | ' | 654,805,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | ' | ' | 77,134,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | ' | ' | 79,400,000 | ' | ' |
Business combination, assets to be divested | ' | ' | 443,169,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | ' | ' | 278,319,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | ' | ' | 625,295,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | 2,992,407,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | ' | ' | 217,175,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | ' | ' | 270,668,000 | ' | ' |
Business Acquisition, Purchase Price Allocation, Deferred preneed funeral and cemetery revenues and deferred receipts held in trusts | ' | ' | 834,320,000 | ' | ' |
Business combination, liabilities held for sale | ' | ' | 162,668,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | ' | 62,409,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | ' | ' | 279,694,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | 1,826,934,000 | ' | ' |
Business combination, noncontrolling interest | ' | ' | 118,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | 1,165,355,000 | ' | ' |
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 3,000,000 | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 156,534,000 | ' | ' | ' | ' |
Business Acquisition, Pro Forma Net Income (Loss) | 64,218,000 | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | 10000000.00% | ' | ' | 20.00% | 70.00% |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage | ' | ' | ' | 90.00% | ' |
Change in estimated valued of acquired property and equipment, net | 2,093,000 | ' | ' | ' | ' |
Change in estimated valued of acquired finite lived intangible assets | 29,146,000 | ' | ' | ' | ' |
Change in the estimated fair value of acquired deferred preneed funeral and cemetery revenues and deferred receipts held in trust | 51,463,000 | ' | ' | ' | ' |
Change in the estimated fair value of acquired deferred taxes | -37,760,000 | ' | ' | ' | ' |
Other changes in the estimated fair value of acquired assets and liabilities, net | -751,000 | ' | ' | ' | ' |
Total adjustment to the estimated amount of goodwill in a business combination | 46,133,000 | ' | ' | ' | ' |
Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross | 6,144,000 | ' | ' | ' | ' |
Finite-Lived Noncompete Agreements, Gross | 5,480,000 | ' | ' | ' | ' |
Finite-Lived Contractual Rights, Gross | 5,900,000 | ' | ' | ' | ' |
Finite-Lived Customer Lists, Gross | 21,960,000 | ' | ' | ' | ' |
Finite-Lived Customer Relationships, Gross | 28,500,000 | ' | ' | ' | ' |
Finite-Lived Trade Names, Gross | 9,150,000 | ' | ' | ' | ' |
Indefinite-Lived Trade Names | 77,900,000 | ' | ' | ' | ' |
Indefinite-Lived License Agreements | 1,500,000 | ' | ' | ' | ' |
Cemetery [Member] | Keystone Acquisition [Member] [Member] | ' | ' | ' | ' | ' |
Goodwill, Acquired During Period | 281,400,000 | ' | ' | ' | ' |
Funeral [Member] | Keystone Acquisition [Member] [Member] | ' | ' | ' | ' | ' |
Goodwill, Acquired During Period | $343,900,000 | ' | ' | ' | ' |
Minimum [Member] | Customer Lists [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years | ' | ' | ' | ' |
Minimum [Member] | Licensing Agreements [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '20 years | ' | ' | ' | ' |
Minimum [Member] | Noncompete Agreements [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' | ' | ' |
Minimum [Member] | Leases, Acquired-in-Place, Market Adjustment [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '26 years | ' | ' | ' | ' |
Minimum [Member] | Trade Names [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' | ' | ' |
Minimum [Member] | Customer Relationships [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years | ' | ' | ' | ' |
Maximum [Member] | Customer Lists [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '14 years | ' | ' | ' | ' |
Maximum [Member] | Licensing Agreements [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '40 years | ' | ' | ' | ' |
Maximum [Member] | Noncompete Agreements [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '15 years | ' | ' | ' | ' |
Maximum [Member] | Leases, Acquired-in-Place, Market Adjustment [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '34 years | ' | ' | ' | ' |
Maximum [Member] | Trade Names [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' | ' | ' |
Maximum [Member] | Customer Relationships [Member] | Stewart [Domain] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '20 years | ' | ' | ' | ' |
DivestitureRelated_Activities_2
Divestiture-Related Activities (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Divestiture-Related Activities [Abstract] | ' | ' |
(Losses) gains on divestitures, net | $1,927 | ($891) |
Impairment losses | -4,739 | -78 |
Gains Losses on divestitures and impairment charges, net | ($2,812) | ($969) |
DivestitureRelated_Activities
Divestiture-Related Activities (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Divestiture-Related Activities [Abstract] | ' | ' |
Current assets | $5,740 | $4,569 |
Preneed funeral and cemetery receivables and trust investments, held for sale | 346,690 | 342,728 |
Cemetery property, held for sale | 103,391 | 83,115 |
Assets Held-for-sale, Property, Plant and Equipment | 82,631 | 63,356 |
Goodwill, held for sale | 127,138 | 140,860 |
Deferred charges and other assets, held for sale | 22,954 | 32,989 |
Cemetery perpetual care trust investments, held for sale | 112,197 | 83,426 |
Assets Held-for-sale, at Carrying Value | 800,741 | 751,043 |
Current liabilities held for sale | 4,850 | 3,183 |
Deferred preneed funeral and cemetery revenues and deferred receipts held in trusts, held for sale | 387,620 | 349,449 |
Care trusts' corpus, held for sale | 112,197 | 83,426 |
Other long-term liabilities, held for sale | 4,606 | 4,209 |
Total liabilities, held for sale | 509,273 | 440,267 |
Net assets held for sale | $291,468 | $310,776 |
Guarantor_Narrative_Details
Guarantor Narrative (Details) (Unsecured Debt [Member], April 2019 [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Unsecured Debt [Member] | April 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior Notes | $200,000 | $200,000 |
Guarantor_Condensed_Consolidat
Guarantor Condensed Consolidating Statements of Operations (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Revenues | $747,123 | $652,352 |
Costs and expenses | -580,741 | -492,695 |
Gross profits | 166,382 | 159,657 |
General and administrative expenses | -56,010 | -30,923 |
Losses on divestitures and impairment charges, net | -2,812 | -969 |
Operating income | 107,560 | 127,765 |
Interest expense | -44,996 | -32,769 |
Equity in subsidiaries | 0 | 0 |
Other (expense) income, net | 1,534 | -984 |
Income from continuing operations before income taxes | 64,098 | 94,012 |
Benefit (provision for income taxes | -22,707 | -35,290 |
Net income | 41,391 | 58,722 |
Net income attributable to noncontrolling interests | -289 | -1,102 |
Net income attributable to common stockholders | 41,102 | 57,620 |
Parent Company [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Revenues | 0 | 0 |
Costs and expenses | 0 | 0 |
Gross profits | 0 | 0 |
General and administrative expenses | -267 | -262 |
Losses on divestitures and impairment charges, net | 0 | 0 |
Operating income | -267 | -262 |
Interest expense | -40,593 | -31,035 |
Equity in subsidiaries | 66,917 | 77,420 |
Other (expense) income, net | 0 | 0 |
Income from continuing operations before income taxes | 26,057 | 46,123 |
Benefit (provision for income taxes | 15,045 | 11,497 |
Net income | 41,102 | 57,620 |
Net income attributable to noncontrolling interests | 0 | 0 |
Net income attributable to common stockholders | 41,102 | 57,620 |
Subsidiary Issuer [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Revenues | 0 | ' |
Costs and expenses | 0 | ' |
Gross profits | 0 | ' |
General and administrative expenses | -8,979 | ' |
Losses on divestitures and impairment charges, net | 0 | ' |
Operating income | -8,979 | ' |
Interest expense | -2,652 | ' |
Equity in subsidiaries | 19,394 | ' |
Other (expense) income, net | -2 | ' |
Income from continuing operations before income taxes | 7,761 | ' |
Benefit (provision for income taxes | 4,691 | ' |
Net income | 12,452 | ' |
Net income attributable to noncontrolling interests | 0 | ' |
Net income attributable to common stockholders | 12,452 | ' |
Guarantor Subsidiaries [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Revenues | 110,165 | ' |
Costs and expenses | -78,197 | ' |
Gross profits | 31,968 | ' |
General and administrative expenses | 0 | ' |
Losses on divestitures and impairment charges, net | -66 | ' |
Operating income | 31,902 | ' |
Interest expense | 0 | ' |
Equity in subsidiaries | 384 | ' |
Other (expense) income, net | 1 | ' |
Income from continuing operations before income taxes | 32,287 | ' |
Benefit (provision for income taxes | -12,863 | ' |
Net income | 19,424 | ' |
Net income attributable to noncontrolling interests | 0 | ' |
Net income attributable to common stockholders | 19,424 | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Revenues | 636,958 | 652,352 |
Costs and expenses | -502,544 | -492,695 |
Gross profits | 134,414 | 159,657 |
General and administrative expenses | -46,764 | -30,661 |
Losses on divestitures and impairment charges, net | -2,746 | -969 |
Operating income | 84,904 | 128,027 |
Interest expense | -1,751 | -1,734 |
Equity in subsidiaries | 0 | 0 |
Other (expense) income, net | 1,535 | -984 |
Income from continuing operations before income taxes | 84,688 | 125,309 |
Benefit (provision for income taxes | -29,580 | -46,787 |
Net income | 55,108 | 78,522 |
Net income attributable to noncontrolling interests | 0 | 0 |
Net income attributable to common stockholders | 55,108 | 78,522 |
Consolidation, Eliminations [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Revenues | 0 | 0 |
Costs and expenses | 0 | 0 |
Gross profits | 0 | 0 |
General and administrative expenses | 0 | 0 |
Losses on divestitures and impairment charges, net | 0 | 0 |
Operating income | 0 | 0 |
Interest expense | 0 | 0 |
Equity in subsidiaries | -86,695 | -77,420 |
Other (expense) income, net | 0 | 0 |
Income from continuing operations before income taxes | -86,695 | -77,420 |
Benefit (provision for income taxes | 0 | 0 |
Net income | -86,695 | -77,420 |
Net income attributable to noncontrolling interests | -289 | -1,102 |
Net income attributable to common stockholders | ($86,984) | ($78,522) |
Guarantor_Condensed_Consolidat1
Guarantor Condensed Consolidating Statements of Comprehensive Income (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income | $41,391 | $58,722 |
Other comprehensive income | -11,515 | -6,614 |
Total comprehensive income attributable to common stockholders | 29,876 | 52,108 |
Parent Company [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income | 41,102 | 57,620 |
Other comprehensive income | -11,226 | -5,512 |
Total comprehensive income attributable to common stockholders | 29,876 | 52,108 |
Subsidiary Issuer [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income | 12,452 | ' |
Other comprehensive income | 0 | ' |
Total comprehensive income attributable to common stockholders | 12,452 | ' |
Guarantor Subsidiaries [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income | 19,424 | ' |
Other comprehensive income | 0 | ' |
Total comprehensive income attributable to common stockholders | 19,424 | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income | 55,108 | 78,522 |
Other comprehensive income | -11,226 | -5,512 |
Total comprehensive income attributable to common stockholders | 43,882 | 73,010 |
Consolidation, Eliminations [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income | -86,695 | -77,420 |
Other comprehensive income | 10,937 | 4,410 |
Total comprehensive income attributable to common stockholders | ($75,758) | ($73,010) |
Guarantor_Condensed_Consolidat2
Guarantor Condensed Consolidating Balance Sheets (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $148,619 | $144,873 | $188,546 | $92,708 |
Receivables, net | 105,813 | 105,899 | ' | ' |
Inventories, net | 34,508 | 34,668 | ' | ' |
Current assets held for sale | 5,740 | 4,569 | ' | ' |
Other | 81,324 | 104,598 | ' | ' |
Total current assets | 376,004 | 394,607 | ' | ' |
Equity in subsidiaries | 0 | 0 | ' | ' |
Preneed funeral receivables, net and trust investments | 1,871,539 | 1,870,874 | ' | ' |
Preneed cemetery receivables, net and trust investments | 2,301,633 | 2,300,911 | ' | ' |
Cemetery property, at cost | 1,721,446 | 1,747,125 | ' | ' |
Property and equipment, net | 1,887,019 | 1,920,868 | ' | ' |
Non-current assets held for sale | 795,001 | 746,474 | ' | ' |
Deferred charges and other assets | 631,759 | 632,088 | ' | ' |
Goodwill, net | 1,978,621 | 1,968,235 | ' | ' |
Cemetery perpetual care trust investments | 1,342,589 | 1,347,622 | ' | ' |
Total assets | 12,905,611 | 12,928,804 | ' | ' |
Accounts payable and accrued liabilities | 477,368 | 486,648 | ' | ' |
Current maturities of long-term debt | 105,705 | 176,362 | ' | ' |
Current liabilities held for sale | 4,850 | 3,183 | ' | ' |
Income taxes | 3,301 | 6,391 | ' | ' |
Total current liabilities | 591,224 | 672,584 | ' | ' |
Long-term debt | 3,133,925 | 3,125,548 | ' | ' |
Deferred preneed funeral revenues | 672,631 | 686,160 | ' | ' |
Deferred preneed cemetery revenues | 986,538 | 974,757 | ' | ' |
Deferred tax liability | 586,991 | 581,440 | ' | ' |
Non-current liabilities held for sale | 504,423 | 437,084 | ' | ' |
Other liabilities | 404,693 | 430,393 | ' | ' |
Deferred preneed funeral and cemetery receipts held in trust | 3,245,629 | 3,250,586 | ' | ' |
Care trusts’ corpus | 1,340,361 | 1,345,874 | ' | ' |
Common stock | 213,532 | 212,317 | ' | ' |
Other equity | 1,145,680 | 1,113,472 | ' | ' |
Accumulated other comprehensive income | 77,215 | 88,441 | ' | ' |
Total common stockholders’ equity | 1,436,427 | 1,414,230 | ' | ' |
Noncontrolling interests | 2,769 | 10,148 | ' | ' |
Total equity | 1,439,196 | 1,424,378 | 1,399,081 | 1,362,827 |
Total liabilities and equity | 12,905,611 | 12,928,804 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | 0 | 0 | ' | ' |
Inventories, net | 0 | 0 | ' | ' |
Current assets held for sale | 0 | 0 | ' | ' |
Other | 9,176 | 9,083 | ' | ' |
Total current assets | 9,176 | 9,083 | ' | ' |
Equity in subsidiaries | 4,280,493 | 4,132,098 | ' | ' |
Preneed funeral receivables, net and trust investments | 0 | 0 | ' | ' |
Preneed cemetery receivables, net and trust investments | 0 | 0 | ' | ' |
Cemetery property, at cost | 0 | 0 | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' |
Non-current assets held for sale | 0 | 0 | ' | ' |
Deferred charges and other assets | 39,887 | 42,068 | ' | ' |
Goodwill, net | 0 | 0 | ' | ' |
Cemetery perpetual care trust investments | 0 | 0 | ' | ' |
Total assets | 4,329,556 | 4,183,249 | ' | ' |
Accounts payable and accrued liabilities | 54,039 | 31,914 | ' | ' |
Current maturities of long-term debt | 0 | 30,000 | ' | ' |
Current liabilities held for sale | 0 | 0 | ' | ' |
Income taxes | 0 | 0 | ' | ' |
Total current liabilities | 54,039 | 61,914 | ' | ' |
Long-term debt | 2,833,690 | 2,701,611 | ' | ' |
Deferred preneed funeral revenues | 0 | 0 | ' | ' |
Deferred preneed cemetery revenues | 0 | 0 | ' | ' |
Deferred tax liability | 1,082 | 1,092 | ' | ' |
Non-current liabilities held for sale | 0 | 0 | ' | ' |
Other liabilities | 4,318 | 4,402 | ' | ' |
Deferred preneed funeral and cemetery receipts held in trust | 0 | 0 | ' | ' |
Care trusts’ corpus | 0 | 0 | ' | ' |
Common stock | 213,532 | 212,317 | ' | ' |
Other equity | 1,145,680 | 1,113,472 | ' | ' |
Accumulated other comprehensive income | 77,215 | 88,441 | ' | ' |
Total common stockholders’ equity | 1,436,427 | 1,414,230 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total equity | 1,436,427 | 1,414,230 | ' | ' |
Total liabilities and equity | 4,329,556 | 4,183,249 | ' | ' |
Subsidiary Issuer [Member] | ' | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 21,341 | 53,543 | ' | ' |
Receivables, net | 909 | 442 | ' | ' |
Inventories, net | 0 | 0 | ' | ' |
Current assets held for sale | 0 | 0 | ' | ' |
Other | 7,668 | 29,133 | ' | ' |
Total current assets | 29,918 | 83,118 | ' | ' |
Equity in subsidiaries | 657,543 | 828,457 | ' | ' |
Preneed funeral receivables, net and trust investments | 0 | 0 | ' | ' |
Preneed cemetery receivables, net and trust investments | 0 | 0 | ' | ' |
Cemetery property, at cost | 0 | 0 | ' | ' |
Property and equipment, net | 13,900 | 15,243 | ' | ' |
Non-current assets held for sale | 0 | 0 | ' | ' |
Deferred charges and other assets | 17,684 | 31,807 | ' | ' |
Goodwill, net | 647,890 | 624,711 | ' | ' |
Cemetery perpetual care trust investments | 0 | 0 | ' | ' |
Total assets | 1,366,935 | 1,583,336 | ' | ' |
Accounts payable and accrued liabilities | 25,723 | 46,020 | ' | ' |
Current maturities of long-term debt | 95 | 106,939 | ' | ' |
Current liabilities held for sale | 0 | 0 | ' | ' |
Income taxes | 74 | 560 | ' | ' |
Total current liabilities | 25,892 | 153,519 | ' | ' |
Long-term debt | 209,418 | 270,578 | ' | ' |
Deferred preneed funeral revenues | 0 | 0 | ' | ' |
Deferred preneed cemetery revenues | 0 | 0 | ' | ' |
Deferred tax liability | 0 | 0 | ' | ' |
Non-current liabilities held for sale | 0 | 0 | ' | ' |
Other liabilities | 14,779 | 29,944 | ' | ' |
Deferred preneed funeral and cemetery receipts held in trust | 0 | 0 | ' | ' |
Care trusts’ corpus | 0 | 0 | ' | ' |
Common stock | 85,175 | 85,175 | ' | ' |
Other equity | 1,031,671 | 1,044,120 | ' | ' |
Accumulated other comprehensive income | 0 | 0 | ' | ' |
Total common stockholders’ equity | 1,116,846 | 1,129,295 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total equity | 1,116,846 | 1,129,295 | ' | ' |
Total liabilities and equity | 1,366,935 | 1,583,336 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 753 | 1,898 | ' | ' |
Receivables, net | 5,536 | 23,908 | ' | ' |
Inventories, net | 10,194 | 10,925 | ' | ' |
Current assets held for sale | 4,164 | 3,333 | ' | ' |
Other | 34,403 | 35,368 | ' | ' |
Total current assets | 55,050 | 75,432 | ' | ' |
Equity in subsidiaries | 4,546 | 4,546 | ' | ' |
Preneed funeral receivables, net and trust investments | 376,292 | 358,567 | ' | ' |
Preneed cemetery receivables, net and trust investments | 255,305 | 265,346 | ' | ' |
Cemetery property, at cost | 233,661 | 264,226 | ' | ' |
Property and equipment, net | 294,574 | 306,174 | ' | ' |
Non-current assets held for sale | 451,409 | 443,170 | ' | ' |
Deferred charges and other assets | 171,703 | 150,665 | ' | ' |
Goodwill, net | 0 | 0 | ' | ' |
Cemetery perpetual care trust investments | 206,859 | 223,903 | ' | ' |
Total assets | 2,049,399 | 2,092,029 | ' | ' |
Accounts payable and accrued liabilities | 25,955 | 43,706 | ' | ' |
Current maturities of long-term debt | 291 | 0 | ' | ' |
Current liabilities held for sale | 3,484 | 1,647 | ' | ' |
Income taxes | 90 | 1,427 | ' | ' |
Total current liabilities | 29,820 | 46,780 | ' | ' |
Long-term debt | 172 | 89 | ' | ' |
Deferred preneed funeral revenues | 177,046 | 176,958 | ' | ' |
Deferred preneed cemetery revenues | 106,168 | 85,163 | ' | ' |
Deferred tax liability | 152,608 | 61,835 | ' | ' |
Non-current liabilities held for sale | 208,029 | 162,668 | ' | ' |
Other liabilities | 7,168 | 11,116 | ' | ' |
Deferred preneed funeral and cemetery receipts held in trust | 473,606 | 503,667 | ' | ' |
Care trusts’ corpus | 207,309 | 223,903 | ' | ' |
Common stock | 102 | 102 | ' | ' |
Other equity | 687,371 | 819,748 | ' | ' |
Accumulated other comprehensive income | 0 | 0 | ' | ' |
Total common stockholders’ equity | 687,473 | 819,850 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total equity | 687,473 | 819,850 | ' | ' |
Total liabilities and equity | 2,049,399 | 2,092,029 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 126,525 | 89,432 | 188,546 | 92,708 |
Receivables, net | 99,368 | 81,549 | ' | ' |
Inventories, net | 24,314 | 23,743 | ' | ' |
Current assets held for sale | 1,576 | 1,236 | ' | ' |
Other | 30,077 | 31,014 | ' | ' |
Total current assets | 281,860 | 226,974 | ' | ' |
Equity in subsidiaries | 0 | 0 | ' | ' |
Preneed funeral receivables, net and trust investments | 1,495,247 | 1,512,307 | ' | ' |
Preneed cemetery receivables, net and trust investments | 2,046,328 | 2,035,565 | ' | ' |
Cemetery property, at cost | 1,487,785 | 1,482,899 | ' | ' |
Property and equipment, net | 1,578,545 | 1,599,451 | ' | ' |
Non-current assets held for sale | 343,592 | 303,304 | ' | ' |
Deferred charges and other assets | 402,485 | 407,548 | ' | ' |
Goodwill, net | 1,330,731 | 1,343,524 | ' | ' |
Cemetery perpetual care trust investments | 1,135,730 | 1,123,719 | ' | ' |
Total assets | 10,102,303 | 10,035,291 | ' | ' |
Accounts payable and accrued liabilities | 371,651 | 365,008 | ' | ' |
Current maturities of long-term debt | 105,319 | 39,423 | ' | ' |
Current liabilities held for sale | 1,366 | 1,536 | ' | ' |
Income taxes | 3,137 | 4,404 | ' | ' |
Total current liabilities | 481,473 | 410,371 | ' | ' |
Long-term debt | 90,645 | 153,270 | ' | ' |
Deferred preneed funeral revenues | 495,585 | 509,202 | ' | ' |
Deferred preneed cemetery revenues | 880,370 | 889,594 | ' | ' |
Deferred tax liability | 433,301 | 518,513 | ' | ' |
Non-current liabilities held for sale | 296,394 | 274,416 | ' | ' |
Other liabilities | 378,428 | 384,931 | ' | ' |
Deferred preneed funeral and cemetery receipts held in trust | 2,772,023 | 2,746,919 | ' | ' |
Care trusts’ corpus | 1,133,052 | 1,121,971 | ' | ' |
Common stock | 25 | 25 | ' | ' |
Other equity | 3,141,007 | 2,937,638 | ' | ' |
Accumulated other comprehensive income | 0 | 88,441 | ' | ' |
Total common stockholders’ equity | 3,141,032 | 3,026,104 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total equity | 3,141,032 | 3,026,104 | ' | ' |
Total liabilities and equity | 10,102,303 | 10,035,291 | ' | ' |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | 0 | 0 | ' | ' |
Inventories, net | 0 | 0 | ' | ' |
Current assets held for sale | 0 | 0 | ' | ' |
Other | 0 | 0 | ' | ' |
Total current assets | 0 | 0 | ' | ' |
Equity in subsidiaries | -4,942,582 | -4,965,101 | ' | ' |
Preneed funeral receivables, net and trust investments | 0 | 0 | ' | ' |
Preneed cemetery receivables, net and trust investments | 0 | 0 | ' | ' |
Cemetery property, at cost | 0 | 0 | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' |
Non-current assets held for sale | 0 | 0 | ' | ' |
Deferred charges and other assets | 0 | 0 | ' | ' |
Goodwill, net | 0 | 0 | ' | ' |
Cemetery perpetual care trust investments | 0 | 0 | ' | ' |
Total assets | -4,942,582 | -4,965,101 | ' | ' |
Accounts payable and accrued liabilities | 0 | 0 | ' | ' |
Current maturities of long-term debt | 0 | 0 | ' | ' |
Current liabilities held for sale | 0 | 0 | ' | ' |
Income taxes | 0 | 0 | ' | ' |
Total current liabilities | 0 | 0 | ' | ' |
Long-term debt | 0 | 0 | ' | ' |
Deferred preneed funeral revenues | 0 | 0 | ' | ' |
Deferred preneed cemetery revenues | 0 | 0 | ' | ' |
Deferred tax liability | 0 | 0 | ' | ' |
Non-current liabilities held for sale | 0 | 0 | ' | ' |
Other liabilities | 0 | 0 | ' | ' |
Deferred preneed funeral and cemetery receipts held in trust | 0 | 0 | ' | ' |
Care trusts’ corpus | 0 | 0 | ' | ' |
Common stock | -85,302 | -85,302 | ' | ' |
Other equity | -4,860,049 | -4,801,506 | ' | ' |
Accumulated other comprehensive income | 0 | -88,441 | ' | ' |
Total common stockholders’ equity | -4,945,351 | -4,975,249 | ' | ' |
Noncontrolling interests | 2,769 | 10,148 | ' | ' |
Total equity | -4,942,582 | -4,965,101 | ' | ' |
Total liabilities and equity | ($4,942,582) | ($4,965,101) | ' | ' |
Guarantor_Condensed_Consolidat3
Guarantor Condensed Consolidating Statements of Cash Flows (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | $127,887 | $151,124 |
Capital expenditures | -25,222 | -22,569 |
Acquisitions, net of cash acquired | -779 | 0 |
Proceeds from divestitures and sales of property and equipment | 2,639 | 1,816 |
Net withdrawals (deposits) of restricted funds and other | -12,225 | 339 |
Contributions to subsidiaries | 0 | 0 |
Net cash (used in) provided by investing activities | -35,587 | -20,414 |
Proceeds from issuance of long-term debt | 110,000 | 0 |
Payments of debt | -7,579 | -4,948 |
Early extinguishment of debt | -167,093 | ' |
Principal payments on capital leases | -7,231 | -6,468 |
Proceeds from exercise of stock options | 7,915 | 3,094 |
Excess tax benefits from share based awards | 6,744 | 772 |
Purchase of Company common stock | -1,053 | -1,708 |
Payments of dividends | -17,080 | -12,698 |
Purchase of noncontrolling interest | -15,000 | -8,333 |
Bank overdrafts and other | 3,762 | -4,004 |
Contributions from (distributions to) parent | 0 | 0 |
Net cash provided by (used in) financing activities | -86,615 | -34,293 |
Effect of foreign currency | -1,939 | -579 |
Net increase (decrease) in cash and cash equivalents | 3,746 | 95,838 |
Cash and cash equivalents at beginning of period | 144,873 | 92,708 |
Cash and cash equivalents at end of period | 148,619 | 188,546 |
Parent Company [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | -28,168 | -1,261 |
Capital expenditures | 0 | 0 |
Acquisitions, net of cash acquired | 0 | ' |
Proceeds from divestitures and sales of property and equipment | 0 | 0 |
Net withdrawals (deposits) of restricted funds and other | 0 | 0 |
Contributions to subsidiaries | -70,858 | 16,558 |
Net cash (used in) provided by investing activities | -70,858 | 16,558 |
Proceeds from issuance of long-term debt | 110,000 | ' |
Payments of debt | -7,500 | -4,757 |
Early extinguishment of debt | 0 | ' |
Principal payments on capital leases | 0 | 0 |
Proceeds from exercise of stock options | 7,915 | 3,094 |
Excess tax benefits from share based awards | 6,744 | 772 |
Purchase of Company common stock | -1,053 | -1,708 |
Payments of dividends | -17,080 | -12,698 |
Purchase of noncontrolling interest | ' | ' |
Bank overdrafts and other | 0 | 0 |
Contributions from (distributions to) parent | 0 | 0 |
Net cash provided by (used in) financing activities | 99,026 | -15,297 |
Effect of foreign currency | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 |
Subsidiary Issuer [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | -32,202 | ' |
Capital expenditures | 0 | ' |
Acquisitions, net of cash acquired | 0 | ' |
Proceeds from divestitures and sales of property and equipment | 0 | ' |
Net withdrawals (deposits) of restricted funds and other | 2,035 | ' |
Contributions to subsidiaries | 0 | ' |
Net cash (used in) provided by investing activities | 2,035 | ' |
Proceeds from issuance of long-term debt | 0 | ' |
Payments of debt | 0 | ' |
Early extinguishment of debt | -167,093 | ' |
Principal payments on capital leases | 0 | ' |
Proceeds from exercise of stock options | 0 | ' |
Excess tax benefits from share based awards | 0 | ' |
Purchase of Company common stock | 0 | ' |
Payments of dividends | 0 | ' |
Purchase of noncontrolling interest | ' | ' |
Bank overdrafts and other | 0 | ' |
Contributions from (distributions to) parent | 165,058 | ' |
Net cash provided by (used in) financing activities | -2,035 | ' |
Effect of foreign currency | 0 | ' |
Net increase (decrease) in cash and cash equivalents | -32,202 | ' |
Cash and cash equivalents at beginning of period | 53,543 | ' |
Cash and cash equivalents at end of period | 21,341 | ' |
Guarantor Subsidiaries [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | 47,998 | ' |
Capital expenditures | -4,120 | ' |
Acquisitions, net of cash acquired | 0 | ' |
Proceeds from divestitures and sales of property and equipment | 0 | ' |
Net withdrawals (deposits) of restricted funds and other | -14,260 | ' |
Contributions to subsidiaries | 0 | ' |
Net cash (used in) provided by investing activities | -18,380 | ' |
Proceeds from issuance of long-term debt | 0 | ' |
Payments of debt | 0 | ' |
Early extinguishment of debt | 0 | ' |
Principal payments on capital leases | -23 | ' |
Proceeds from exercise of stock options | 0 | ' |
Excess tax benefits from share based awards | 0 | ' |
Purchase of Company common stock | 0 | ' |
Payments of dividends | 0 | ' |
Purchase of noncontrolling interest | 0 | ' |
Bank overdrafts and other | 0 | ' |
Contributions from (distributions to) parent | -30,740 | ' |
Net cash provided by (used in) financing activities | -30,763 | ' |
Effect of foreign currency | 0 | ' |
Net increase (decrease) in cash and cash equivalents | -1,145 | ' |
Cash and cash equivalents at beginning of period | 1,898 | ' |
Cash and cash equivalents at end of period | 753 | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | 140,259 | 152,385 |
Capital expenditures | -21,102 | -22,569 |
Acquisitions, net of cash acquired | -779 | ' |
Proceeds from divestitures and sales of property and equipment | 2,639 | 1,816 |
Net withdrawals (deposits) of restricted funds and other | 0 | 339 |
Contributions to subsidiaries | 0 | 0 |
Net cash (used in) provided by investing activities | -19,242 | -20,414 |
Proceeds from issuance of long-term debt | 0 | ' |
Payments of debt | -79 | -191 |
Early extinguishment of debt | 0 | ' |
Principal payments on capital leases | -7,208 | -6,468 |
Proceeds from exercise of stock options | 0 | 0 |
Excess tax benefits from share based awards | 0 | 0 |
Purchase of Company common stock | 0 | 0 |
Payments of dividends | 0 | 0 |
Purchase of noncontrolling interest | -15,000 | -8,333 |
Bank overdrafts and other | 3,762 | -4,004 |
Contributions from (distributions to) parent | -63,460 | -16,558 |
Net cash provided by (used in) financing activities | -81,985 | -35,554 |
Effect of foreign currency | -1,939 | -579 |
Net increase (decrease) in cash and cash equivalents | 37,093 | 95,838 |
Cash and cash equivalents at beginning of period | 89,432 | 92,708 |
Cash and cash equivalents at end of period | 126,525 | 188,546 |
Consolidation, Eliminations [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | 0 | 0 |
Capital expenditures | 0 | 0 |
Acquisitions, net of cash acquired | 0 | ' |
Proceeds from divestitures and sales of property and equipment | 0 | 0 |
Net withdrawals (deposits) of restricted funds and other | 0 | 0 |
Contributions to subsidiaries | 70,858 | -16,558 |
Net cash (used in) provided by investing activities | 70,858 | -16,558 |
Proceeds from issuance of long-term debt | 0 | ' |
Payments of debt | 0 | 0 |
Early extinguishment of debt | 0 | ' |
Principal payments on capital leases | 0 | 0 |
Proceeds from exercise of stock options | 0 | 0 |
Excess tax benefits from share based awards | 0 | 0 |
Purchase of Company common stock | 0 | 0 |
Payments of dividends | 0 | 0 |
Purchase of noncontrolling interest | 0 | ' |
Bank overdrafts and other | 0 | 0 |
Contributions from (distributions to) parent | -70,858 | 16,558 |
Net cash provided by (used in) financing activities | -70,858 | 16,558 |
Effect of foreign currency | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 |
Cash and cash equivalents at end of period | $0 | $0 |