Thanks, Tom, morning, good and everybody.
your think to hope it's all your and your safe SCI family, that of et us appropriate during remaining cetera, friends, this time. I are healthy loved First, at that say just ones, you,
I provide members am communities care members. as and Secondly, team would team hard work discussing results like our in that we we that support to proud quarterly they and want of to reiterate vital of today the I of without be not all those grateful our serve. to we all for positive how as I'd here XX,XXX to dedication that the say continue well our
our So to thank of at here I SCI, team all you. say, members
year. I an results well shift storm, color this as give first our our I allowing for at the provide on of strength pandemic remainder some of cash quarter update us now the business let's the So today. will weather the flow and to for hand the financial position, to to as discuss plan then
of entered very we be strength, positioned. a we and well from crisis this continue So position to
opportunities. a have and liquidity growth to in amount significant continue as the as needs of We our flexibility to meet of businesses all well invest
liquidity at We available facility. on $XXX hand of just to XX $XXX range to Our credit consisting remained bank well million is X.XXx within on end long-term of robust, X.X million leverage from Xx. $XXX our of June, at our cash over million, targeted net has X.XXx of today to March debt-to-EBITDA reduced plus of growing our which about the
next no XXXX. year, very with notes of that due having well clear small maturity May until November profile in series debt Additionally, about are also let me million, which you significant debt of than remind we're that a a other maturities positioned of are $XXX
So a a quarter. our billion experienced loss $X portfolios XX, the with March funds, net return we respect of At million. in unrealized $XXX of for approximately to our XX% trust combined we had
EBITDA combined affect funds then, Now Since experienced near that recall, period. that on significant overall us along At unrealized effect in of our muted a $XX have of cash recovery, funds on those the term of June a trust approximately those as and this only gain with XX, the degradation our mature will end our flows course. has contracts had trust in earnings given the in these we market, million. net any a
quarter, shift So the to talk now and cash about let's specifically, let's flow.
performed as the business well our flows cash and challenges significant despite at a SCI. our of result resiliency the faced So of pandemic supporting during with quarter, being complexities
taxes of experienced to meaningfully million in operating flow adjusted $XXX strong $XXX With million, own we results, with increase our cash operating the the deferral expectations. in coupled cash exceeding certain quarter
So the let's talk could details behind main into buckets. and we $XXX split really million, this this X about
of by quarter moved and income of temporary the $XX allowed by due the the $XX about million payments. gets deferral We during of federal IRS, deferred the million tax about state as quarter into certain benefited we and First, payments third XXXX. this tax to
million this operations XXXX. cash year is end paid to is million year, $X.XX deferred were allowed over the for this is sales earnings the in our on collections which flow year, by CARES So quarter. And increase this atneed tax will But grow taxes $XX of of full Act. working by remaining deferral during strength related And additionally, really improved XXXX. to is prior to equally primarily the payroll to million of payroll the during timing based the growth this XXXX of on quarter. expected and capital then the related growth of just higher about we $XX per be as of the million attributable $XX which within $XX cash to Also, the approximately of benefits, share back
quarter, of the million the $X late spend maintenance actions $XX is for at quarter. and about in our the development So cemetery prior quarter, CapEx than lower decrease maintenance spending in year This totaled taken the million which the our is first which reflects onset pandemic.
at all of flow flow normalized of generated cash As than that $XX for which free the second $XXX for a free still in of about million, million, result calculates million. at last the I what When of higher came just cash taxes about quarter though, this, million quarter $XX $XX mentioned, in we the year. total is deferred
$XX in by Again, in the we've million grown prior the out million, through quarter million XX% from the and kind the $XX $XXX talk Midyear year cash the prior adjusted a solid XXXX, taxes, for year. Now million of over of of has remainder flow operations grown year. let's today. about adjusted but $XXX million shift to from $XX deferred
seen impact our a this in degree cash obviously there situation. we the a as economic fluid this half all have the operating communities we'll beginning pandemic, negatively improvement flows of year. still is we remains remains, back uncertainty lockdowns, whether pandemic see the any in unclear of serve, know, of we While it still and Therefore, high again, the could which mandated since
geographies generally operate, in locations do occur. to where suite a communities limited and the products are our could While be open of serve services outbreaks full in ability offer our we to certain
as to on though, me few these you back a comments, With of the let flows the compared half cash backdrop, XXXX. for XXXX provide as thoughts a with
half pay, of will significant mentioned, I've XXXX. the cash a taxes amount second in as of We
XXXX the half million deferrals half estimated in will the I second additional from this of will was Our pandemic of and second the and of tax that as state mentioned, the cash from benefited quarter. Benefiting quarter third again year deferral relief payroll and be federal in of $XX be million that associated an year. the the this with IRS, also the of paid back tax $XX
million, flow which interest is associated debt already us completed part together, compared past in $XXX the deferrals discussed cash guidance we've million with as to well of floating all being around is also the the to Finally, year and stability cemetery we to payroll the strong expect you in capital million. release, and we the our that's as over is position year. the to rate of XXXX. expectations taxes, which lower capital spending in CARES and the our The our saw to cash the lower business $XXX is our with for This debt sources. normalized interest to updated rates for as of release, us $XXX operating million And same Furthermore, expected lower year $XXX guidance press as in as adjusted opportunistic along Act, now maintenance activities million cash as putting $XX as EPS refinancing financial look year. back really remainder flexibility gives primarily full this funeral cash before cash our press of working range capital redemption midpoint of benefited and development guidance, other $XXX year continue reflected from the from the the on of the for underlying providing million with we're tax to lower the XXXX, be confidence for deploying we've the well flows that cemetery of of from
million in business a acquisitions. up normally seek year, We range $XX will believe million opportunities. acquisition continue I value-enhancing the for we $XXX to that end spend we to target for
based on the could lower However, be range activity. this recent we end at of
homes towards funeral other further target deploying expect expansion to new also grow business our capital in our to We opportunities and markets. continue
I'd to and these through in for our times. closing, dedication again thank challenging members perseverance So like XX,XXX their team nearly
We as in the again, the into stakeholders. half, half best continue associates needs navigate excited We will of by of is year. putting that has all the long-term our approach believe first pandemic. our this been and have our the to, safely interest in reflected, we our about and the of our needs of businesses this of going And teams back company first this all we the accomplished momentum we're
So with call ahead prepared Q&A. up the we'll remarks, open that, that for concludes operator, and go and now our