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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

The following table summarizes the breakdown of the purchase price allocation for the businesses described above (in thousands):



	Purchase Price Allocation
Current assets	$	1,482
Preneed trust assets	15,891
Property, plant & equipment	21,680
Cemetery property	11,994
Goodwill	99,344
Intangible and other non-current assets	8,269
Assumed liabilities	(657		)
Preneed trust liabilities	(15,463		)
Deferred revenue	(1,633		)
Purchase price	$	140,907

The intangible and other non-current assets relate to the fair value of tradenames and agreements not-to-compete. The assumed liabilities primarily relate to the obligations associated with accounts payable and payroll related liabilities of the Fairfax, Virginia acquisition.

The following table summarizes the fair value of the assets acquired for these businesses (in

Effect of acquisitions on Consolidated Balance Sheets

in cash.

The following table summarizes the breakdown of the purchase price allocation for the businesses acquired during 2018 (in thousands):



	Purchase Price Allocation
Current assets	$	166
Property, plant & equipment	17,543
Goodwill	16,777
Intangible and other non-current assets	3,863
Assumed liabilities	(399		)
Purchase price	$	37,950

The intangible and other non-current assets relate to the fair value of tradenames and agreements not

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 716	$ 644
Accounts receivable, net	21,478	18,897
Inventories	6,989	6,751
Prepaid and other current assets	1,596	1,456
Prepaid Expense and Other	10,667	3,011
Total current assets	39,850	29,303
Preneed cemetery trust investments	72,382	62,432
Preneed funeral trust investments	96,335	82,074
Preneed cemetery receivables, net	20,173	18,441
Receivables from preneed trusts	18,024	17,073
Property, plant and equipment, net	279,200	260,838
Cemetery property, net	87,032	74,958
Goodwill	398,292	303,887
Intangible and other non-current assets, net	32,116	24,425
Operating lease right-of-use assets	22,304	0
Cemetery perpetual care trust investments	64,047	44,071
Total assets	1,129,755	917,502
Current liabilities:
Current portion of long-term debt	1,306	2,015
Current portion of finance lease obligations	290	312
Current portion of operating lease obligations	1,554	0
Accounts payable	8,413	9,987
Accrued and other liabilities	24,026	22,644
Total current liabilities	35,589	34,958
Long-term debt, net of current portion	5,658	6,925
Credit facility	82,182	26,145
Convertible subordinated notes due 2021	5,971	5,732
Principal amount	90,764
Obligations under finance leases, net of current portion	5,854	6,143
Obligations under operating leases, net of current portion	21,533	0
Deferred preneed cemetery revenue	46,569	45,997
Deferred preneed funeral revenue	29,145	28,606
Deferred tax liability	41,368	31,263
Other long-term liabilities	1,737	3,133
Deferred preneed cemetery receipts held in trust	72,382	62,432
Deferred preneed funeral receipts held in trust	96,335	82,074
Care trusts’ corpus	63,416	43,494
Total liabilities	903,186	696,010
Commitments and contingencies
Stockholders’ equity:
Common stock, $.01 par value; 80,000,000 shares authorized; 25,703,490 and 25,880,362 issued as of December 31, 2018 and 2019, respectively	259	257
Additional paid-in capital	242,147	243,849
Retained earnings	86,213	71,680
Treasury stock, at cost; 7,625,339 and 8,025,339 shares at December 31, 2018 and 2019, respectively	(102,050)	(94,294)
Total stockholders’ equity	226,569	221,492
Total liabilities and stockholders’ equity	1,129,755	917,502
Senior Notes [Member]
Current liabilities:
Principal amount	$ 395,447	$ 319,108

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock
Beginning balance, shares outstanding at Dec. 31, 2016		16,641,000
Beginning Balance at Dec. 31, 2016	$ 175,734	$ 225	$ 215,064	$ 20,711	$ (60,266)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	37,193			37,193
Isuuance of common stock, shares		68,000
Issuance of common stock	$ 1,638	$ 1	1,637
Exercise of stock options, shares	159,000	61,000
Exercise of stock options	$ 514	$ 0	514
Issuance of restricted common stock, shares		27,000
Issuance of restricted common stock	0	$ 0	0
Cancellation and retirement of restricted common stock, shares		(25,000)
Cancellation and retirement of restricted common stock	(551)	$ 0	(551)
Stock-based compensation expense	3,203		3,203
Dividends on common stock	$ (3,709)		(3,709)
Treasury stock acquired, shares	(574,054)	(674,000)
Dividends on common stock	$ (16,366)				(16,366)
Ending balance, shares outstanding at Dec. 31, 2017		16,098,000
Ending balance, shares outstanding (Accounting Standards Update 2014-09 [Member]) at Dec. 31, 2017		16,098,000
Ending Balance at Dec. 31, 2017	197,656	$ 226	216,158	57,904	(76,632)
Ending Balance (Accounting Standards Update 2014-09 [Member]) at Dec. 31, 2017	199,787	$ 226	216,158	60,035	(76,632)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	11,645			11,645
Isuuance of common stock, shares		62,000
Issuance of common stock	$ 1,200	$ 1	1,199
Exercise of stock options, shares	459,000	140,000
Exercise of stock options	$ (33)	$ 1	(34)
Issuance of restricted common stock, shares		87,000
Issuance of restricted common stock	25	$ 1	24
Cancellation and retirement of restricted common stock, shares		(30,000)
Cancellation and retirement of restricted common stock	(398)	$ 0	(398)
Stock-based compensation expense	6,531		6,531
Dividends on common stock	(5,514)		(5,514)
Stock Issued During Period, Shares, Conversion of Convertible Securities		2,823,000
Stock Issued During Period, Value, Conversion of Convertible Securities	$ 25,911	$ 28	25,883
Treasury stock acquired, shares	(1,101,969)	(1,102,000)
Dividends on common stock	$ (17,662)				(17,662)
Ending balance, shares outstanding at Dec. 31, 2018		18,078,000
Ending Balance at Dec. 31, 2018	221,492	$ 257	243,849	71,680	(94,294)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	14,533			14,533
Isuuance of common stock, shares		81,000
Issuance of common stock	$ 972	$ 1	971
Exercise of stock options, shares	247,000	76,000
Exercise of stock options	$ 472	$ 1	471
Issuance of restricted common stock, shares		26,000
Issuance of restricted common stock	0	$ 0	0
Cancellation and retirement of restricted common stock, shares		(21,000)
Cancellation and retirement of restricted common stock	(194)	$ 0	(194)
Stock-based compensation expense	2,153		2,153
Dividends on common stock	$ (5,398)		(5,398)
Treasury stock acquired, shares	(400,000)	(400,000)
Dividends on common stock	$ (7,756)				(7,756)
Other (in share)		15,000
Other	295		295
Ending balance, shares outstanding at Dec. 31, 2019		17,855,000
Ending Balance at Dec. 31, 2019	$ 226,569	$ 259	$ 242,147	$ 86,213	$ (102,050)

Stockholders' Equity Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Status of Stock Based Compensation Plans

December 31, 2019 is as follows (shares in thousands):



	Shares Reserved		Shares Available to Issue	Options Outstanding	Performance Awards Outstanding ⁽²⁾
Amended and Restated 2006 Plan	—		—	844	—
2017 Plan	2,801	(1)	1,848	234	569
Total	2,801		1,848	1,078	569




(1)	Amount includes approximately 1,246,000 shares granted from the Amended and Restated 2006 Plan that were returned to the Company due to cancellations, to pay taxes on restricted stock vestings and to pay option price and taxes on option exercises.
(2)	Performance Awards are reserved at 200% of shares granted which is equal to the maximum payout in shares.

Schedule of Share-based Compensation, Stock Options, Activity

A summary of the stock options at December 31, 2017, 2018 and 2019 and changes during the three years ended December 31, 2019 is presented in the table and narrative below (shares in thousands):



	Years Ended December 31,
	2017				2018				2019
	Shares		Wtd. Avg. Ex. Price		Shares		Wtd. Avg. Ex. Price		Shares		Wtd. Avg. Ex. Price
Outstanding at beginning of period	1,650		$	19.18	1,934		$	20.85	1,523		$	21.95
Granted	462		$	26.56	213		$	25.43	100		$	24.35
Exercised	(159	)	$	19.81	(459	)	$	17.73	(247	)	$	17.37
Canceled or expired	(19	)	$	23.17	(165	)	$	25.34	(298	)	$	21.96
Outstanding at end of year	1,934		$	20.85	1,523		$	21.95	1,078		$	23.22
Exercisable at end of year	1,225		$	18.68	1,001		$	20.29	643		$	22.02

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table further describes our outstanding stock options at December 31, 2019:



	Options Outstanding				Options Exercisable
Actual Ranges of Exercise Prices	Number Outstanding at 12/31/19	Weighted-Average Remaining Contractual Life	Weighted-Average Exercise Price		Number Exercisable at 12/31/19	Weighted-Average Exercise Price
$5.70 - $5.94	43,871	1.69	$	5.82	43,871	$	5.82
$20.06 - $22.58	495,320	3.25	$	21.89	84,240	$	20.06
$24.35 - $26.93	538,944	7.95	$	25.86	514,612	$	23.72
$5.70 - $26.93	1,078,135	5.54	$	23.22	642,723	$	22.02

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

In 2018, a total of 86,260 shares of restricted stock were awarded with a grant date market value of $2.2 million. In 2017, a total of 27,250 shares of restricted stock were awarded with a grant date market value of $0.8 million.

A summary of the status of unvested restricted stock as of December 31, 2019, and changes during 2019, is presented below (shares in thousands):



Unvested stock awards	Shares		Weighted Average Grant Date Fair Value
Unvested at January 1, 2019	89		$	25.38
Awards	26		19.94
Vestings	(33	)	25.19
Cancellations	(12	)	24.84
Unvested at December 31, 2019	70		$	23.56

Schedule of Accumulated Other Comprehensive Income (Loss)

Our components of Accumulated other comprehensive income are as follows (in thousands):



	Accumulated Other Comprehensive Income
Balance at December 31, 2018	$	—
Decrease in net unrealized gains associated with available-for-sale securities of the trusts	5
Reclassification of net unrealized gain activity attributable to the Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus’	(5		)
Balance at December 31, 2019	$	—

Schedule of Dividends Payable

For the years ended December 31, 2018 and 2019, our Board declared the following dividends payable on the dates below (in thousands, except per share amounts):



2019	Per Share		Dollar Value
March 1st	$	0.075	$	1,360
June 1st	$	0.075	$	1,365
September 1st	$	0.075	$	1,336
December 1st	$	0.075	$	1,337

2018	Per Share		Dollar Value
March 1st	$	0.075	$	1,207
June 1st	$	0.075	$	1,433
September 1st	$	0.075	$	1,436
December 1st	$	0.075	$	1,437

Employee Stock Option

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair values of our stock options were calculated using the following weighted average assumptions, based on the methods described above for the years ended December 31, 2017, 2018 and 2019:



	2017		2018		2019
Dividend yield	0.75	%	1.18	%	1.23	%
Expected volatility	29.29	%	27.08	%	27.45	%
Risk-free interest rate	1.95	%	2.65	%	1.65	%
Expected holding period (years)	5.0		5.0		5.0

Employee Stock Purchase Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair values of the right (option) to purchase shares under the ESPP are estimated at the date of purchase with the four quarterly purchase dates using the following assumptions:



	2017		2018		2019
Dividend yield	0.9	%	1.4	%	1.4	%
Expected volatility	19	%	21	%	36	%
Risk-free interest rate	0.53%, 0.65%, 0.77%, 0.89%		1.44%, 1.61%, 1.72%, 1.83%		2.42%, 2.51%, 2.56%, 2.60%
Expected life (years)	.25, .50, .75, 1.00		.25, .50, .75, 1.00		.25, .50, .75, 1.00

Preneed Trust Investments (Estimated maturities of fixed preneed cemetery trust income securities) (Details) - Preneed Cemetery Trust Investments $ in Thousands	Dec. 31, 2019 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Due in one year or less	$ 0
Due in one to five years	4,518
Due in five to ten years	10,395
Thereafter	23,425
Total	$ 38,338

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company

Carriage Services, Inc. (“Carriage,” the “Company,” “we,” “us,” or “our”) is a leading provider of funeral and cemetery services and merchandise in the United States. At December 31, 2019, we operated 186 funeral homes in 29 states and 31 cemeteries in 11 states. Our operations are reported in two business segments: Funeral Home Operations, which currently accounts for approximately 80% of our revenue and Cemetery Operations, which currently accounts for approximately 20% of our revenue.

Our funeral homes offer a complete range of high value personal services to meet a family's funeral needs, including consultation, the removal and preparation of remains, the sale of caskets and related funeral merchandise, the use of funeral home facilities for visitation and remembrance services and transportation services. Our cemeteries provide interment rights (grave sites and mausoleum spaces) and related merchandise, such as markers and outer burial containers. We provide funeral and cemetery services and products on both an “atneed” (time of death) and “preneed” (planned prior to death) basis.

Principles of Consolidation

The accompanying Consolidated Financial Statements include the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated.

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.

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Use of Estimates

The preparation of our Consolidated Financial Statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses. On an on-going basis, we evaluate our estimates and judgments, including those related to revenue recognition, realization of accounts receivable, goodwill, intangible assets, property and equipment and deferred tax assets and liabilities. We base our estimates on historical experience, third party data and assumptions that we believe to be reasonable under the circumstances. The results of these considerations form the basis for making judgments about the amount and timing of revenue and expenses, the carrying value of assets and the recorded amounts of liabilities. Actual results may differ from these estimates and such estimates may change if the underlying conditions or assumptions change. Historical performance should not be viewed as indicative of future performance, as there can be no assurance that our results of operations will be consistent from year to year.

Inventory

Inventory consists primarily of caskets, outer burial containers and cemetery monuments and markers and is recorded at the lower of its cost basis (determined by the specific identification method) or net realizable value.

Revenue Recognition - Funeral Home Operations

Our funeral home operations are principally service businesses that generate revenue from sales of burial and cremation services and related merchandise, such as caskets and urns. Funeral services include consultation, the removal and preparation of remains, the use of funeral home facilities for visitation and remembrance services and transportation services. We provide funeral services and products on both an atneed and preneed basis.

Funeral arrangements sold at the time of death are referred to as atneed funeral contracts. The performance obligation on these atneed contracts for both merchandise and services are bundled as a single performance obligation, as the performance of these obligations occur within a short time frame (usually within a few days) from the time of death to the funeral service. Although our performance activities are transferred in sequence such as, embalming the body, delivering the casket, obtaining service related items like flowers and performing the service, these are all essential to satisfy our contractual obligation to the customer, thus, bundled into a single performance obligation. Revenue is recognized on the date of funeral service, as all performance obligations have been satisfied. Payment is due at or before time of transfer. Outstanding balances due from customers, if any, on atneed funeral contracts are included in Accounts receivable on our Consolidated Balance Sheet.

The performance obligation is satisfied at the date of the service or the delivery of the merchandise as control has transferred to the customer and the benefit has concluded in the following manner:


•	we have the right to payment;


•	the customer has title to merchandise;


•	the deceased has used the merchandise or has been a part of the service; and


•	the customer directed the use of the merchandise or the plan of the service.

Funeral arrangements sold prior to death occurring are referred to as preneed funeral contracts. In many instances, the customer pays for the preneed contract over a period of time. For preneed funeral merchandise and service contracts, the performance obligation occurs at the time of need (when death occurs) and revenue is recognized on the date of delivery of merchandise or performance of service. We do not deliver merchandise on preneed contracts or provide service prior to the time of death. The performance obligation for preneed funeral contracts is similar to the elements of the performance obligation of atneed funeral contracts. For preneed funeral services, all preneed funeral contracts are re-written upon the date of death as an atneed contract. The performance obligation is satisfied at the date of the service.

The performance of a preneed funeral contract is secured by placing the funds collected, less amounts that we may retain under state regulations, in trust for the benefit of the customer or by the customer's purchase of a life insurance policy, the proceeds of which will pay for such services at the time of need. These methods are intended to fund preneed funeral contracts, cover the original contract price and generally include an element of growth (earnings) designed to offset future inflationary cost increases.

Revenue from preneed funeral contracts, along with accumulated earnings, is deferred until the time the merchandise is delivered or the service is performed. The principal and accumulated earnings of the trusts are withdrawn at maturity (death) or cancellation. The cumulative trust income earned and the increases in insurance benefits on the insurance products are recognized when the service is performed. The amounts deposited in trusts that we control are included in the non-current asset section of our Consolidated Balance Sheet. Balances due on undelivered preneed funeral trust contracts have been reclassified to reduce Deferred preneed funeral revenue on our Consolidated Balance Sheet of $8.3 million and $8.9 million at December 31, 2018 and December 31, 2019, respectively. As these performance obligations are to be completed after the date of death, we cannot quantify the recognition of revenue in future periods. However, we estimate an average maturity period of ten years for preneed funeral contracts.

The earnings from our preneed funeral trust investments, as well as trust management fees charged by our wholly-owned registered investment advisory firm (“CSV RIA”) are recorded as Other revenue, as noted in our table of disaggregated revenue in Note 6 to the Consolidated Financial Statements included herein. As of December 31, 2019, CSV RIA provided investment management and advisory services to approximately 71% of our trust assets, for a fee based on the market value of trust assets. Under state trust laws, we are allowed to charge the trust a fee for advising on the investment of the trust assets and these fees are recognized as income in the period in which services are provided.

When preneed funeral contracts are funded through third-party insurance policies, we earn a commission on the sale of the policies. Insurance commissions are subject to refund (charge-back) if the preneed policy is cancelled within a year or if there is an imminent death of beneficiary before the first year anniversary of the policy. We record these insurance commissions as Other revenue, as noted in our table of disaggregated revenue in Note 6 to the Consolidated Financial Statements included herein, when the commission is no longer subject to refund, which is typically one year after the policy is issued. All selling costs incurred pursuant to the sale of the insurance funded preneed contracts are expensed as incurred. Preneed funeral contracts to be funded at maturity by third-party insurance policies are not recorded as assets or liabilities on our Consolidated Balance Sheet. See Note 10 to the Consolidated Financial Statements included herein for additional information regarding estimated revenue associated with preneed funeral contracts funded by third-party insurance policies.

Generally, at the time of the sale of either the preneed insurance or preneed trust contract, the intent is that the beneficiary has made a commitment to assign the proceeds to us for the fulfillment of the service and merchandise obligations on the preneed contract at the time of need. However, this commitment is revocable and the proceeds from the policy are portable, so the customer can choose to use an alternative provider at the time of need.

The earnings from our ancillary service businesses, which consist of a flower shop, a pet cremation business and an online cremation business are recorded as Other revenue, as noted in our table of disaggregated revenue in Note 6 to the Consolidated Financial Statements included herein.

The comparative information for years prior to 2018 has not been adjusted to reflect the adoption of the revised revenue recognition standard and is reported in accordance with Accounting Standards Codification 605 (“ASC 605”). See Note 2 “Recently Issued Accounting Standards” of our Annual Report on Form 10-K for the year ended December 31, 2018 for additional information related to our adoption of the revised revenue recognition standard (“ASC 606”).

Revenue Recognition - Cemetery Operations

Our cemetery operations generate revenue primarily through sales of cemetery interment rights (primarily grave sites, lawn crypts, mausoleum spaces and niches), related cemetery merchandise (such as outer burial containers, memorial markers and floral placements) and services (interments, inurnments and installation of cemetery merchandise). We provide cemetery services and products on both an atneed and preneed basis.

Cemetery arrangements sold at the time of death are referred to as atneed cemetery contracts. The performance obligation on these atneed contracts for cemetery property, merchandise and services are distinct. The performance obligations from the time of death to the disposition of the remains, include delivering cemetery property, unearthing the ground, interring remains and installing merchandise on the cemetery grounds. Each item on the contract is recognized as a distinct good or service. The performance obligation is satisfied and revenue is recognized on the purchase date of the interment right, on the date of the cemetery service, and on the date of delivery of the merchandise (set on cemetery grounds). Payment is due at or before time of transfer. Outstanding balances due from customers, if any, on completed atneed contracts are included in Accounts receivable on our Consolidated Balance Sheet.

The performance obligation is satisfied at the date of the service, the purchase of the interment right or the delivery of the merchandise as control has transferred to the customer and the benefit has concluded in the following manner:


•	we have the right to payment;


•	the customer has title to merchandise;


•	the deceased has used the merchandise or has been a part of the service; and


•	the customer directed the use of the merchandise or the plan of the service.

Cemetery arrangements sold prior to death occurring are referred to as preneed cemetery contracts. For preneed cemetery interment rights, the performance obligation is the sale of the interment right and revenue is recognized at the time the contract is signed. Control of cemetery interment rights is transferred to the customer upon execution of the contract as customers select a specific location and space for their interment right, thus, restricting us from other use or transfer of the contracted cemetery property. The interment right is deeded to the customer when the contract is paid in full.

For preneed cemetery merchandise and service, the performance obligation occurs at the time of need (when death occurs) and revenue is recognized on the date of delivery of merchandise or performance of service. We do not deliver merchandise on preneed contracts or provide service prior to the time of death. The performance obligation for preneed cemetery merchandise and service is similar to the elements of the performance obligation of atneed cemetery merchandise and service.

Preneed cemetery contracts are usually financed through interest-bearing installment sales contracts, generally with terms of up to five years. In substantially all cases, we receive an initial down payment at the time the contract is signed. Earnings on these installment contracts are not recognized until the time the merchandise is transferred or the service is performed and are recorded as Other revenue, as noted in our table of disaggregated revenue in Note 6 to the Consolidated Financial Statements included herein.

The performance of the preneed cemetery contracts is secured by placing the funds collected, less amounts that we may retain under state regulations, in trust for the benefit of the customer, the proceeds of which will pay for such services at the time of need. This method is intended to fund preneed contracts, cover the original contract price and generally include an element of growth (earnings) designed to offset future inflationary cost increases. The amounts deposited in trusts that we control are included in the non-current asset section of our Consolidated Balance Sheet. The earnings from preneed cemetery contracts placed in trust, as well as the trust management fees charged by our CSV RIA are recorded as Other revenue, as noted in our table of disaggregated revenue in Note 6 to the Consolidated Financial Statements included herein.

Our merchandise and service performance obligations related to our preneed contracts are considered fulfilled at the point in time the merchandise is delivered or the burial, cremation or interment service is performed. Balances due from customers on delivered preneed cemetery contracts are included in Accounts receivable and Preneed receivables on our Consolidated Balance Sheet. Balances due on undelivered preneed cemetery contracts have been reclassified to reduce Deferred preneed cemetery revenue on our Consolidated Balance Sheet. The transaction price allocated to preneed merchandise and service performance obligations that were unfulfilled were $4.4 million and $4.8 million at December 31, 2018 and December 31, 2019, respectively. As these performance obligations are to be completed after the date of death, we cannot quantify the recognition of revenue in future periods. However, we estimate an average maturity period of eight years for preneed cemetery contracts.

We sell memorialization merchandise and personalized marker merchandise, such as urns and markers that are supplied by a small number of national providers. We order the memorialized merchandise through a third-party on behalf of our customer. The merchandise and its memorialization is provided by the third-party. We deliver the merchandise after the time of death to the customer upon completion of the memorialization or we set the merchandise on our cemetery grounds.

Cemetery property was $75.0 million and $87.0 million, net of accumulated amortization of $37.7 million and $41.7 million at December 31, 2018 and December 31, 2019, respectively. Interment right costs, which include real property and other costs related to cemetery development, are expensed using the specific identification method in the period in which the sale of the interment right is recognized as revenue. We recorded amortization expense for cemetery interment rights of $3.3 million, $3.6 million and $4.0 million for the years ended December 31, 2017, 2018 and 2019, respectively.

See Note 6 to the Consolidated Financial Statements included herein for additional information related to our revenue.

Arrangements with Multiple Performance Obligations

Some of our contracts with customers include multiple performance obligations. For these contracts, we allocate transaction price to each performance obligation based on its relative standalone selling price, which is based on prices charged to customers per our general price list. Packages for service and ancillary items are offered to help the customer make decisions during emotional/stressful times. Package discounts are reflected net in Revenue. We recognize revenue when the merchandise is transferred or the service is performed, in satisfaction of the corresponding performance obligation. Sales taxes collected are recognized on a net basis in our Consolidated Financial Statements.

Preneed Funeral and Cemetery Trust Funds

Our preneed and perpetual care trust funds are reported in accordance with the principles of consolidating Variable Interest Entities (“VIE’s”). In the case of preneed trusts, the customers are the legal beneficiaries. In the case of perpetual care trusts, we do not have a right to access the corpus in the perpetual care trusts. We have recognized financial interests of third parties in the trust funds in our financial statements as Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus. The investments of such trust funds are classified as available-for-sale and are reported at fair market value; therefore, the unrealized gains and losses, as well as accumulated and undistributed income and realized gains and losses are recorded to Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus on our Consolidated Balance Sheet. Our future obligations to deliver merchandise and services are reported at estimated settlement amounts. Preneed funeral and cemetery trust investments are reduced by the trust investment earnings that we have been allowed to withdraw in certain states prior to maturity. These earnings, along with preneed contract collections not required to be placed in trust, are recorded in Deferred preneed funeral revenue and Deferred preneed cemetery revenue until the service is performed or the merchandise is delivered.

In accordance with respective state laws, we are required to deposit a specified amount into perpetual and memorial care trust funds for each interment right and certain memorials sold. Income from the trust funds is distributed to us and used to provide for the care and maintenance of the cemeteries and mausoleums. Such trust fund income is recognized as revenue when realized by the trust and distributable to us. We are restricted from withdrawing any of the principal balances of these funds.

An enterprise is required to perform an analysis to determine whether the enterprise’s variable interest(s) give it a controlling financial interest in a VIE. This analysis identifies the primary beneficiary of a VIE as the enterprise that has both the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Our analysis continues to support our position as the primary beneficiary in the majority of our funeral and cemetery trust funds.

We determine whether or not the assets in the preneed trusts have an other-than-temporary impairment on a security-by-security basis. This assessment is made based upon a number of criteria including the length of time a security has been in a loss position, changes in market conditions and concerns related to the specific issuer. If a loss is considered to be other-than-temporary, the cost basis of the security is adjusted downward to its fair market value. Any reduction in the cost basis of the investment due to an other-than-temporary impairment is likewise recorded as a reduction to Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus on our Consolidated Balance Sheet. There will be no impact on earnings unless and until such time that the investment is withdrawn from the trust in accordance with state regulations at an amount that is less than its original basis.

See Notes 7, 9 and 11 to the Consolidated Financial Statements herein for additional information related to our trust funds.

Allowance for bad debts and customer cancellations

Our funeral receivables recorded in Accounts Receivable, net primarily consist of amounts due for funeral services already performed which were $8.5 million and $9.9 million for December 31, 2018 and December 31, 2019, respectively. We estimate an allowance for doubtful accounts on these receivables based on our historical experience, which amounted to 2.2% of funeral receivables at both December 31, 2018 and December 31, 2019. In addition, our funeral receivables not related to funeral services performed were $0.7 million and $1.1 million at December 31, 2018 and December 31, 2019, respectively. Other receivables not related to our funeral home and cemetery operations were $0.2 million and $0.7 million at December 31, 2018 and December 31, 2019, respectively.

Our cemetery financed receivables totaled $37.2 million and $41.3 million at December 31, 2018 and December 31, 2019, respectively. The unearned finance charges associated with these receivables were $4.6 million and $4.5 million at December 31, 2018 and December 31, 2019, respectively. If a preneed contract is canceled prior to delivery, state law determines the amount of the refund owed to the customer. Allowances for bad debts and customer cancellations on cemetery financed receivables are recorded at the date that the sale is recognized as revenue and are based on our historical experience. We also monitor changes in delinquency rates and provide additional bad debt and cancellation reserves when warranted. We have a collections policy where past due notifications are sent to the customer beginning at 15 days past due and periodically thereafter until the contract is cancelled or payment is received. We reserve 100% of the receivables on contracts in which the revenue has been recognized and payments are 90 days past due or more, which was approximately 4.6% and 4.4% of the total receivables at December 31, 2018 and December 31, 2019, respectively. See Note 8 to the Consolidated Financial Statements included herein for additional information on cemetery financed receivables.

Our cemetery receivables recorded in Accounts Receivable, net also include $1.8 million and $0.1 million related to perpetual care income receivables at December 31, 2018 and December 31, 2019, respectively. See Note 11 to the Consolidated Financial Statements included herein for additional information on our perpetual care trust investments.

Accounts receivable is comprised of the following at December 31, 2018 and December 31, 2019 (in thousands):



	December 31, 2018		December 31, 2019
Funeral receivables, net of allowance for bad debt of $189 and $223, respectively	$	9,002	$	10,758
Cemetery receivables, net of allowance for bad debt of $580 and $626, respectively	9,688		10,039
Other receivables	207		681
Accounts receivable, net	$	18,897	$	21,478

Preneed cemetery receivables represent payments expected to be received beyond one year from the balance sheet date. Preneed cemetery receivables, net are comprised of the following at December 31, 2018 and December 31, 2019 (in thousands):



	December 31, 2018			December 31, 2019
Preneed cemetery receivables	$	25,568		$	27,411
Less: unearned finance charges	(2,821		)	(2,690		)
Less: allowance for bad debt and contract cancellation	(1,228		)	(1,290		)
Less: balances due on undelivered cemetery preneed contracts	(3,078		)	(3,258		)
Preneed cemetery receivables, net	$	18,441		$	20,173

Bad debt expense totaled $2.2 million, $1.8 million and $1.6 million for the years ended December 31, 2017, 2018 and 2019, respectively.

Capitalized Commissions on Preneed Contracts

We capitalize sales commissions and other direct selling costs related to preneed cemetery merchandise and services and preneed funeral trust contracts as these costs are incremental and recoverable costs of obtaining a contract with a customer. Our capitalized commissions on preneed contracts are amortized on a straight-line basis over the average maturity period for our preneed cemetery merchandise and services contracts and preneed funeral trust contracts, of eight and ten years, respectively. Amortization expense totaled $0.6 million for both the years ended December 31, 2018 and 2019. Prior to our adoption of ASC 606 on January 1, 2018, these costs were expensed in the period incurred.

On September 30, 2018, our management agreement with a Florida municipality expired and as a result, we ceased to operate three of our cemetery businesses. We recorded a loss of approximately $125,000 in Other, net, for the write-off of capitalized commissions related to these three cemetery businesses. See Note 5 to the Consolidated Financial Statements included herein for additional information regarding the expired management agreement for these three cemetery businesses. There were no impairment losses recognized for the year ended December 31, 2019.

The selling costs related to the sales of cemetery interment rights, which include real property and other costs related to cemetery development activities, continue to be expensed using the specific identification method in the period in which the sale of the cemetery interment right is recognized as revenue. The selling costs related to preneed funeral insurance contracts continue to be expensed in the period incurred as these contracts are not included on our Consolidated Balance Sheet.

See Note 13 to the Consolidated Financial Statements herein for additional information related to our capitalized commissions on preneed contracts.

Leases

We have operating and finance leases. We lease certain office facilities, certain funeral homes and equipment under operating leases with original terms ranging from one to nineteen years. Many leases include one or more options to renew, some of which include options to extend the leases for up to 26 years. We lease certain funeral homes under finance leases with original terms ranging from ten to forty years. We do not have lease agreements with residual value guarantees, sale-leaseback terms, material restrictive covenants or related parties. We do not have any material sublease arrangements.

We determine if an arrangement is a lease at inception based on the facts and circumstances of the agreement. A right-of-use (“ROU”) asset represents our right to use the underlying asset for the lease term and the lease liability represents our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized on our Consolidated Balance Sheet at the lease commencement date based on the present value of lease payments over the lease term. As our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The lease terms used to calculate the ROU asset and related lease liability include options to extend the lease when it is reasonably certain that we will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense, while the expense for finance leases (formerly capital leases) is recognized as depreciation expense and interest expense using the accelerated interest method of recognition. Variable lease payment amounts that cannot be determined at the commencement of the lease such as increases in lease payments based on changes in index rates or usage, are not included in the ROU assets or liabilities. These are expensed as incurred and recorded as variable lease expense. We have real estate lease agreements which require payments for lease and non-lease components and account for these as a single lease component. Leases with an initial term of 12 months or less, that do not include an option to renew the underlying asset, are not recorded on our Consolidated Balance Sheet and expense is recognized on a straight-line basis over the lease term. Operating lease ROU assets are included in Operating lease right-of-use assets and operating lease liabilities are included in Current portion of operating lease obligations and Obligations under operating leases, net of current portion on our Consolidated Balance Sheet. Finance lease ROU assets are included in Property, plant and equipment, net and finance lease liabilities are included in Current portion of finance lease obligations and Obligations under finance leases, net of current portion on our Consolidated Balance Sheet.

See Notes 2 and 17 to the Consolidated Financial Statements included herein for additional information related to our leases.

Property, Plant and Equipment

Property, plant and equipment (including equipment under finance leases) are stated at cost. The costs of ordinary maintenance and repairs are charged to operations as incurred, while renewals and major replacements that extend the useful economic life of the asset are capitalized. Depreciation of property, plant and equipment (including equipment under finance leases) is computed based on the straight-line method over the following estimated useful lives of the assets:



	Years
Buildings and improvements	15 to 40
Furniture and fixtures	5 to 10
Machinery and equipment	3 to 15
Automobiles	5 to 70

Property, plant and equipment is comprised of the following at December 31, 2018 and 2019 (in thousands):



	December 31, 2018			December 31, 2019
Land	$	81,012		$	84,608
Buildings and improvements	223,646			242,641
Furniture, equipment and automobiles	81,125			88,046
Property, plant and equipment, at cost	385,783			415,295
Less: accumulated depreciation	(124,945		)	(136,095		)
Property, plant and equipment, net	$	260,838		$	279,200

During 2019, we acquired $21.7 million of property, plant and equipment in connection with the funeral home and cemetery businesses we acquired during 2019, as further discussed in Note 3 to the Consolidated Financial Statements included herein. During 2018, we acquired $17.5 million of property, plant and equipment in connection with the funeral home businesses we acquired during 2018. We recorded depreciation expense of $12.6 million, $13.8 million and $13.8 million for the years ended December 31, 2017, 2018 and 2019, respectively.

Long-lived assets, such as property, plant and equipment subject to depreciation and amortization, are reviewed for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with the Property, Plant and Equipment topic of the Accounting Standards Codification (“ASC”) 360. This guidance requires that long-lived assets to be held and used are reported at the lower of their carrying amount or fair value. We assess long-lived assets for impairment whenever events or circumstances indicate that the carrying value may be greater than the fair value. We evaluate our long-lived assets for impairment when a funeral home or cemetery business has negative earnings before interest, taxes, depreciation and amortization (“EBITDA”) for four consecutive years and if there has been a decline in EBITDA in that same period. We review our long-lived assets deemed held-for-sale to the point of recoverability. Assets to be disposed of and assets not expected to provide any future service potential are recorded at the lower of their carrying amount or fair value less estimated cost to sell. If we determine that the carrying value is not recoverable from the proceeds of the sale, we record an impairment at that time.

For the year ended December 31, 2018, we recorded an impairment of $0.2 million related to the real property of a funeral home business held for sale, as the carrying value exceeded fair value. For the years ended December 31, 2017 and 2019, no impairment was identified on our long-lived assets.

Business Combinations

Tangible and intangible assets acquired and liabilities assumed are recorded at fair value and goodwill is recognized for any difference between the price of the acquisition and fair value. We recognize the assets acquired, the liabilities assumed and any non-controlling interest in the acquiree at the acquisition date, measured at the fair value as of that date. Acquisition related costs are recognized separately from the acquisition and are expensed as incurred. We customarily estimate related transaction costs known at closing. To the extent that information not available to us at the closing date subsequently becomes available during the allocation period, we may adjust goodwill, intangible assets, assets or liabilities associated with the acquisition.

During 2019, we acquired, in three separate transactions, two funeral home and cemetery combination businesses, seven funeral home businesses and three ancillary businesses. In October 2019, we acquired the following: (i) four funeral home business in Buffalo, New York; and (ii) one funeral home and cemetery combination business, three funeral home businesses and three ancillary businesses, which consist of a flower shop, a pet cremation business and an online cremation business.in the Dallas, Texas area. In December 2019, we acquired one funeral home and cemetery combination business in Fairfax, Virginia.

During 2018, we acquired four funeral home businesses. In July 2018, we acquired one funeral home business in Fredericksburg, Virginia and one funeral home business in Stafford, Virginia. In August 2018, we acquired one funeral home business in Cookeville, Tennessee and one funeral home business in Knightdale, North Carolina.

The pro forma impact of the acquisitions on prior periods is not presented as the impact is not material to our reported results. The results of the acquired businesses are included in our results of operations from the date of acquisition.

See Note 3 to the Consolidated Financial Statements herein for further information related to our acquisitions.

Goodwill

The excess of the purchase price over the fair value of identifiable net assets of funeral home businesses and cemeteries acquired is recorded as goodwill. Goodwill has an indefinite life and is not subject to amortization. As such, we test goodwill for impairment on an annual basis. Our intent is to perform a quantitative impairment test at least once every three years unless certain indicators or events suggest otherwise and perform a qualitative assessment during the remaining two years.

We perform our annual goodwill impairment test as of August 31^steach year. Under current guidance, we are permitted to first assess qualitative factors to determine whether it is more-likely-than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative goodwill impairment test. We conducted qualitative assessments in 2017 and 2018; however, we performed a quantitative assessment in 2019. In addition to our annual test, we assess the impairment of goodwill whenever events or changes in circumstances indicate that the carrying value of a reporting unit may be greater than fair value. Factors that could trigger an interim impairment review include, but are not limited to, significant adverse changes in the business climate, which may be indicated by a decline in our market capitalization or decline in operating results.

Our quantitative goodwill impairment test involves estimates and management judgment. In the quantitative analysis, we compare the fair value of each reporting unit to its carrying value, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, the goodwill of that reporting unit is not considered impaired. We determine fair value for each reporting unit using both an income approach, weighted 90%, and a market approach, weighted 10%. Our methodology for determining an income-based fair value is based on discounting projected future cash flows. The projected future cash flows include assumptions concerning future operating performance and economic conditions that may differ from actual future cash flows discounted at our weighted average cost of capital based on market participant assumptions. Our methodology for determining a market approach fair value utilizes the guideline public company method, in which we rely on market multiples of comparable companies operating in the same industry as the individual reporting units. In accordance with the guidance, if the fair value of the reporting unit is less than its carrying amount an impairment charge is recorded in an amount equal to the difference.

For our 2019 quantitative assessment, there was no impairment to goodwill as the fair value of our reporting units was greater than the carrying value. However, we recorded a goodwill impairment of $0.5 million during 2019 related to a funeral home business that we divested in the fourth quarter of 2019. We also recorded a $0.2 million goodwill impairment during the year ended December 31, 2019 related to a funeral home business that is under a letter of intent to sell during 2020, as the carrying value exceeded fair value at December 31, 2019.

For our 2018 annual impairment test, we performed a qualitative assessment and concluded that the fair value of our reporting units was greater than their carrying value and thus there was no impairment to goodwill. However, we recorded a goodwill impairment of $0.8 million during 2018 related to a funeral home business that we divested during the third quarter of 2019. No impairments were recorded to our goodwill during the year ended December 31, 2017.

See Note 4 to the Consolidated Financial Statements herein for additional information related to our goodwill.

Intangible Assets

Our intangible assets include tradenames resulting from acquisitions and are included in Intangible and other non-current assets, net on our Consolidated Balance Sheet. Our tradenames are considered to have an indefinite life and are not subject to amortization. As such, we test our intangible assets for impairment on an annual basis. Our intent is to perform a quantitative impairment test at least once every three years unless certain indicators or events suggest otherwise and perform a qualitative assessment during the remaining two years.

We perform our annual intangible assets impairment test as of August 31^steach year. Under current guidance, we are permitted to first assess qualitative factors to determine whether it is more-likely-than not that the fair value of the tradename is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative impairment test. We conducted qualitative assessments in 2017 and 2018; however, we performed a quantitative assessment in 2019. In addition to our annual test, we assess the impairment of intangible assets whenever certain events or changes in circumstances indicate that the carrying value of the intangible asset may be greater than the fair value. Factors that could trigger an interim impairment review include, but are not limited to, significant under-performance relative to historical or projected future operating results and significant negative industry or economic trends.

Our quantitative intangible asset impairment test involves estimates and management judgment. Our quantitative analysis is performed using the relief from royalty method, which measures the tradenames by determining the value of the royalties that we are relieved from paying due to our ownership of the asset. We determine the fair value of the asset by discounting the cash flows that represent a savings in lieu of paying a royalty fee for use of the tradename. The discounted cash flow valuation uses projections of future cash flows and includes assumptions concerning future operating performance and economic conditions that may differ from actual future cash flows and the determination and application of an appropriate royalty rate and discount rate. To estimate the royalty rates for the individual tradename, we mainly rely on the profit split method, but also consider the comparable third-party license agreements and the return on asset method. A scorecard is used to assess the relative strength of the individual tradename to further adjust the royalty rates selected under the profit-split method for qualitative factors. In accordance with the guidance, if the fair value of the tradename is less than its carrying amount, then an impairment charge is recorded in an amount equal to the difference.

For our 2019 quantitative assessment, we recorded an impairment for tradenames of $0.2 million during the year ended December 31, 2019 as the carrying amount of certain tradenames exceeded the fair value. No impairments were recorded to our intangible assets during the years ended December 31, 2017 and 2018.

See Note 13 to the Consolidated Financial Statements included herein for additional information related to our intangible assets.

Divested Operations

During 2019, we divested three funeral home businesses whose building leases expired and sold a funeral home business for $0.9 million. In addition, we merged a funeral home business with a business in an existing market. During 2018, our management agreement with a Florida municipality expired and as a result, we divested three of our cemetery businesses. During 2017, we sold a funeral home business in Kentucky for $0.6 million. The operating results of these divested businesses are reflected in our Consolidated Statements of Operations.

See Note 5 to the Consolidated Financial Statements herein for additional information related to our divested businesses.

Fair Value Measurements

We measure the available-for-sale securities held by our funeral merchandise and service, cemetery merchandise and service, and cemetery perpetual care trusts at fair value on a recurring basis in accordance with the Fair Value Measurements Topic of the ASC. This guidance defines fair value as the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date for items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). The guidance establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:

• Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets;

• Level 2 — inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and

• Level 3 — inputs to the valuation methodology are unobservable and significant to the fair value measurement.

We disclose the extent to which fair value is used to measure financial assets and liabilities, the inputs utilized in calculating valuation measurements, and the effect of the measurement of significant unobservable inputs on earnings, or changes in net assets, as of the measurement date. The fair value disclosures of transfers in and out of Levels 1 and 2 and the gross presentation of purchases, sales, issuances and settlements in the Level 3 reconciliation of the three-tier fair value hierarchy are also presented in Notes 7 and 11 to the Consolidated Financial Statements included herein. We currently do not have any assets that have fair values determined by Level 3 inputs and no liabilities measured at fair value. We have not elected to measure any additional financial instruments and certain other items at fair value that are not currently required to be measured at fair value.

To determine the fair value of assets and liabilities in an environment where the volume and level of activity for the asset or liability have significantly decreased, the exit price is used as the fair value measurement. For the year ended December 31, 2019, we did not incur significant decreases in the volume or level of activity of any asset or liability. We consider an impairment of debt and equity securities other-than-temporary unless (a) we have the ability and intent to hold an investment and (b) evidence indicating the cost of the investment is recoverable before we are more likely than not required to sell the investment. If an impairment is indicated, then an adjustment is made to reduce the carrying amount to fair value which is recorded as a reduction to either Deferred preneed cemetery receipts held in trust, Deferred preneed funeral receipts held in trust or Care trusts’ corpus on our Consolidated Balance Sheet. We did not record any impairments during the years ended December 31, 2018 and 2019.

In the ordinary course of business, we are typically exposed to a variety of market risks. Currently, these are primarily related to changes in fair market values related to outstanding debts and changes in the values of securities associated with the preneed and perpetual care trusts. Management is actively involved in monitoring exposure to market risk and developing and utilizing risk management techniques when appropriate and when available for a reasonable price.

See Notes 7, 11 and 12 to the Consolidated Financial Statements herein for additional required disclosures related to our fair value measurement of our financial assets and liabilities.

Income Taxes

We and our subsidiaries file a consolidated U. S. federal income tax return, separate income tax returns in 15 states in which we operate and combined or unitary income tax returns in 14 states in which we operate. We record deferred taxes for temporary differences between the tax basis and financial reporting basis of assets and liabilities. We classify our deferred tax liabilities and assets as non-current on our Consolidated Balance Sheet.

We record a valuation allowance to reflect the estimated amount of deferred tax assets for which realization is uncertain. Management reviews the valuation allowance at the end of each quarter and makes adjustments if it is determined that it is more likely than not that the tax benefits will be realized.

We analyze tax benefits for uncertain tax positions and how they are to be recognized, measured, and derecognized in the financial statements; provide certain disclosures of uncertain tax matters; and specify how reserves for uncertain tax positions should be classified on our Consolidated Balance Sheet.

The Company’s unrecognized tax benefits reserve for uncertain tax positions primarily relates to pending accounting method changes filed for the tax year ended December 31, 2018. The amount of the reserve recorded as of December 31, 2019 was $3.2 million. No reserve is recorded at December 31, 2018.

See Note 19 to the Consolidated Financial Statements included herein for additional information related to our income taxes.

Stock Plans and Stock-Based Compensation

We have stock-based employee and director compensation plans under which we grant stock, restricted stock, stock options and performance awards. We also have an employee stock purchase plan (“ESPP”). We recognize compensation expense in an amount equal to the fair value of the stock-based awards expected to vest or to be purchased over the requisite service period.

Fair value is determined on the date of the grant. The fair value of restricted stock is determined using the stock price on the grant date. The fair value of options or awards containing options is determined using the Black-Scholes valuation model. The fair value of the performance awards related to market performance is determined using a Monte-Carlo simulation pricing model. The fair value of the performance awards related to internal performance metrics is determined using the stock price on the grant date. The fair value of the ESPP is determined based on the discount element offered to employees and the embedded option element, which is determined using an option calculation model.

We recognize all excess tax benefits and tax deficiencies (including tax benefits of dividends on share-based payment awards) as income tax benefit or expense in the income statement. We treat the tax effects of exercised or vested awards as discrete items in the reporting period in which they occur. For the years ended December 31, 2018 and 2019, the excess tax deficiency related to share-based payments was approximately $0.8 million and $0.4 million, respectively, recorded within Tax adjustment related to certain discrete items on our Consolidated Statements of Operations. Excess tax benefits or deficiencies related to share-based payments are included in operating cash flows on the Consolidated Statements of Cash Flows.

See Note 20 to the Consolidated Financial Statements included herein for additional information related to our stock-based compensation plans.

Computation of Earnings Per Common Share

Basic earnings per share is computed using the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the period. Dilutive common equivalent shares consist of stock options and our Convertible Notes (as defined in Note 15).

Share-based awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are recognized as participating securities and included in the computation of both basic and diluted earnings per share. Our grants of restricted stock awards to our employees and directors are considered participating securities, and we have prepared our earnings per share calculations attributable to common stockholders to exclude outstanding unvested restricted stock awards, using the two-class method, in both the basic and diluted weighted average shares outstanding calculation.

The fully diluted weighted average shares outstanding for the years ended December 31, 2017, 2018 and 2019, and the corresponding calculation of fully diluted earnings per share, included 941,000, 337,000 and 10,000 shares that would have been issued upon the conversion of our Convertible Notes as a result of the application of the if-converted method prescribed by the FASB ASC 260.

See Note 22 to the Consolidated Financial Statements included herein for the computation of per share earnings for the years ended December 31, 2017, 2018 and 2019.

Subsequent Events

We have evaluated events and transactions during the period subsequent to December 31, 2019 through the date the financial statements were issued for potential recognition or disclosure in the accompanying financial statements covered by this report.

Assets Held for Sale and Discontinued Operations (Narrative) (Details) $ in Millions	Dec. 31, 2019 business	Dec. 31, 2018 USD ($) business	Sep. 30, 2018 business	Dec. 31, 2016 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number Of Business Closed \| business	3	3	3
Discontinued Operations, Disposed of by Sale [Member] \| KENTUCKY
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration		$ 0.9
Discontinued Operations, Disposed of by Sale [Member] \| Tennessee
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration				$ 0.6

Preneed Trust Investments (Cost and fair market values associated with preneed funeral trust investments) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 97,047	$ 90,993
Unrealized Gains	5,672	1,450
Unrealized Losses	(4,173)	(8,177)
Fair Market Value	98,546	84,266
Preneed cemetery trust investments, at market value	$ 99,246	$ 84,803
Market value as a percentage of cost	101.50%	92.60%
Accrued investment income
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 700	$ 537
Fair Market Value	700	537
Fair Value, Level 1 \| Cash and money market accounts
Debt and Equity Securities, FV-NI [Line Items]
Cost	24,160	31,375
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	24,160	31,375
Fair Value, Level 1 \| U.S. treasury debt
Debt and Equity Securities, FV-NI [Line Items]
Cost		1,319
Unrealized Gains		3
Unrealized Losses		(19)
Fair Market Value		1,303
Fair Value, Level 1 \| Common stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	27,652	24,803
Unrealized Gains	2,773	887
Unrealized Losses	(2,869)	(5,389)
Fair Market Value	27,556	20,301
Fair Value, Level 2 \| Municipal bonds
Debt and Equity Securities, FV-NI [Line Items]
Cost	822
Unrealized Gains	0
Unrealized Losses	0
Fair Market Value	822
Fair Value, Level 2 \| Foreign Debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	5,587	3,748
Unrealized Gains	309	44
Unrealized Losses	(232)	(503)
Fair Market Value	5,664	3,289
Fair Value, Level 2 \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	16,109	14,195
Unrealized Gains	992	294
Unrealized Losses	(646)	(1,025)
Fair Market Value	16,455	13,464
Fair Value, Level 2 \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	14,094	11,500
Unrealized Gains	874	54
Unrealized Losses	(198)	(1,194)
Fair Market Value	14,770	10,360
Fair Value, Level 2 \| Collateralized Mortgage Backed Securities [Member]
Debt and Equity Securities, FV-NI [Line Items]
Cost	585	772
Unrealized Gains	0	168
Unrealized Losses	(117)	(18)
Fair Market Value	468	922
Fair Value, Level 2 \| Equity Securities [Member]
Debt and Equity Securities, FV-NI [Line Items]
Cost	772
Unrealized Gains	617
Unrealized Losses	(4)
Fair Market Value	1,385
Fair Value, Level 2 \| Fixed Income Securities
Debt and Equity Securities, FV-NI [Line Items]
Cost	4,364	275
Unrealized Gains	107	0
Unrealized Losses	(107)	(29)
Fair Market Value	4,364	246
Fair Value, Level 2 \| Other investments
Debt and Equity Securities, FV-NI [Line Items]
Cost	2,902	3,006
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	$ 2,902	$ 3,006

Senior Notes (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Carrying Values

The carrying value of the Senior Notes at December 31, 2018 and December 31, 2019 are reflected in our Consolidated Balance Sheet as follows (in thousands):



	December 31, 2018			December 31, 2019
Long-term liabilities:
Principal amount	$	325,000		$	400,000
Debt premium	—			1,688
Debt discount, net of accumulated amortization of $273 and $492, respectively	(4,602		)	(4,110		)
Debt issuance costs, net of accumulated amortization of $77 and $216, respectively	(1,290		)	(2,131		)
Carrying value of the Senior Notes	$	319,108		$	395,447

Schedule of Maturities of Long-term Debt

The aggregate maturities of our long-term debt for the next five years subsequent to December 31, 2019 and thereafter are as follows (in thousands):



Years ending December 31,
2020	$	1,289
2021	1,023
2022	523
2023	84,363
2024	550
Thereafter	3,016
Total	$	90,764

The aggregate maturities of our Convertible Notes for the five years subsequent to December 31, 2019 are as follows (in thousands):



	Principal Maturity		Discount Amortization			Present Value
Years ending December 31,
2020	$	—	$	(270	)	$	(270	)
2021	6,319		(49		)	6,270
2022	—		—			—
2023	—		—			—
2024	—		—			—
Thereafter	—		—			—
Total	$	6,319	$	(319	)	$	6,000

The aggregate maturities of our Senior Notes for the five years subsequent to December 31, 2019 are as follows (in thousands):



	Principal Maturity		Discount Amortization			Premium Amortization		Present Value
Years ending December 31,
2020	$	—	$	(528	)	$	221	$	(307	)
2021	—		(565		)	235		(330		)
2022	—		(605		)	250		(355		)
2023	—		(648		)	266		(382		)
2024	—		(694		)	283		(411		)
Thereafter	400,000		(1,070		)	433		399,363
Total	$	400,000	$	(4,110	)	$	1,688	$	397,578

Receivables from Preneed Trusts

12 Months Ended

Dec. 31, 2019

Receivables From Preneed Trusts [Abstract]

RECEIVABLES FROM PRENEED FUNERAL TRUSTS

RECEIVABLES FROM PRENEED TRUSTS

Our Receivables from preneed trusts represent assets in trusts which are controlled and operated by third parties in which we do not have a controlling financial interest (less than 50%) in the trust assets. We account for these investments at cost. As of December 31, 2018 and 2019, receivables from preneed trusts are as follows (in thousands):



	December 31, 2018			December 31, 2019
Preneed trust funds, at cost	$	17,601		$	18,581
Less: allowance for contract cancellation	(528		)	(557		)
Receivables from preneed trusts, net	$	17,073		$	18,024

The following summary reflects the composition of the assets held in trust and controlled by third parties to satisfy our future obligations under preneed arrangements related to the preceding contracts at December 31, 2018 and 2019. The cost basis includes reinvested interest and dividends that have been earned on the trust assets. Fair value includes unrealized gains and losses on trust assets.

The composition of the preneed trust funds at December 31, 2019 is as follows (in thousands):



	Historical Cost Basis		Fair Value
As of December 31, 2019
Cash and cash equivalents	$	4,533	$	4,533
Fixed income investments	11,603		11,603
Mutual funds and common stocks	2,440		2,518
Annuities	5		5
Total	$	18,581	$	18,659

The composition of the preneed trust funds at December 31, 2018 is as follows (in thousands):



	Historical Cost Basis		Fair Value
As of December 31, 2018
Cash and cash equivalents	$	4,172	$	4,172
Fixed income investments	10,668		10,668
Mutual funds and common stocks	2,755		2,709
Annuities	6		6
Total	$	17,601	$	17,555

Basis of Presentation and Summary of Significant Accounting Policies Correction of Immaterial Error (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Liabilities	$ 903,186	$ 696,010
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(226,569)	(221,492)	$ (197,656)	$ (175,734)
Accumulated Deficit
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (86,213)	$ (71,680)	$ (57,904)	$ (20,711)

Preneed Cemetery Receivables (Preneed cemetery receivables) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Allowance for amount of receivables for preneed cemetery interment rights and related products and services presented in accounts receivables	$ 2,458	$ 2,405
Cemetery interment rights	31,366	27,728
Cemetery merchandise and services	9,950	9,516
Accounts receivable, including unearned finance charges and allowance for contract cancellations of $2,405 and $2,458, respectively	13,905	11,676
Preneed receivables, including unearned finance charges and allowance for contract cancellations of $4,049 and $3,980, respectively	27,411	25,568
Cemetery financed receivables	41,316	37,244
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Provision for losses on accounts receivable	1,618	1,841	$ 2,198
Allowance for amount of receivables for preneed cemetery interment rights and related products and services presented in preneed receivables	3,980	4,049
Receivables from Preneed Funeral Trusts	(18,024)	(17,073)
Preneed Cemetery Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,808		$ 2,019
Write-offs and cancellations	(733)	(1,357)
Provision for losses on accounts receivable	841	1,146
Ending balance	$ 1,916	$ 1,808

Stockholders' Equity Performance Awards (Details) - Performance Shares [Member] - shares					12 Months Ended
	Dec. 02, 2019	Nov. 04, 2019	Aug. 01, 2019	Feb. 20, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	35,000	9,123	14,000	248,500	306,623	113,320	105,540
Expected life (years)	4 years 29 days	4 years 1 month 28 days	4 years 5 months 1 day	4 years 10 months 10 days
Expected volatility	28.47%	28.39%	27.01%	25.70%
Risk-free interest rate	1.64%	1.60%	1.68%	2.47%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Forfeiture rate	7.17%	7.17%	7.17%	7.17%

Cemetery Perpetual Care Trust Investments (The Components of Care trusts' corpus) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Care trusts’ corpus	$ 63,416	$ 43,494
Perpetual Care Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Trust assets, at market value	64,047	44,071
Obligations due from trust	(631)	(577)
Care trusts’ corpus	$ 63,416	$ 43,494

Preneed Trust Investments (Preneed funeral trust investment security transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Investment income	$ 4,500	$ 5,934	$ 5,949
Net change in deferred preneed cemetery receipts held in trust	(4,123)	(4,579)	(5,111)
Preneed Funeral Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Investment income	1,753	1,623	2,420
Realized gains	6,214	6,662	2,386
Realized losses	(4,612)	(5,882)	(2,396)
Expenses and taxes	(1,129)	(885)	(1,290)
Net change in deferred preneed cemetery receipts held in trust	$ (2,226)	$ (1,518)	$ (1,120)

Share Repurchase Program Share Repurchase Program (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jul. 31, 2019	Oct. 25, 2017	Feb. 25, 2016
Related Party Transaction [Line Items]
Authorized amount				$ 25,000,000	$ 40,000,000.0	$ 25,000,000.0
Authorized amount, additional					$ 15,000,000.0
Treasury stock acquired, shares	400,000	1,101,969	574,054
Payments for repurchase of equity	$ 7,800,000	$ 17,700,000	$ 14,000,000
Average cost per share (in usd per share)	$ 19.39	$ 16.03	$ 24.35
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 25,600,000

Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit at beginning of year	$ 0	$ 0	$ 0
Gross increases - tax positions in prior period	691	0	0
Unrecognized tax benefit, reductions for tax year 2011 federal audit	0	0	0
Gross increases - tax positions in current period	0	0	0
Settlement	0	0	0
Unrecognized tax benefit at end of year	$ 691	$ 0	$ 0

Stockholders' Equity Stockholders' Equity (Assumptions using the Black-Scholes option pricing model) (Details) - Employee Stock Option	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	1.23%	1.18%	0.75%
Expected volatility	27.45%	27.08%	29.29%
Risk-free interest rate	1.65%	2.65%	1.95%
Expected life (years)	5 years	5 years	5 years

Quarterly Financial Data (Unaudited) Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 71,149	$ 66,125	$ 67,752	$ 69,081	$ 66,517	$ 64,241	$ 63,847	$ 73,387	$ 274,107	$ 267,992	$ 258,139
Gross profit	20,679	18,056	19,250	21,600	17,820	17,114	16,825	24,188	79,585	75,947	76,799
Net income from continuing operations	$ 2,569	$ 577	$ 4,862	$ 6,525	$ (2,658)	$ 2,200	$ 2,747	$ 9,356	$ 14,533	$ 11,645	$ 37,193
Basic earnings per common share (in dollars per share)	$ 0.14	$ 0.03	$ 0.27	$ 0.36	$ (0.14)	$ 0.11	$ 0.15	$ 0.58	$ 0.81	$ 0.64	$ 2.25
Diluted earnings per common share (in dollars per share)	$ 0.14	$ 0.03	$ 0.27	$ 0.36	$ (0.14)	$ 0.11	$ 0.15	$ 0.52	$ 0.80	$ 0.63	$ 2.09

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Earnings Per Share Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of the basic and diluted earnings per share for the years ended December 31, 2017, 2018 and 2019 (in thousands, except per share data):



	Years Ended December 31,
	2017			2018			2019
Numerator for basic and diluted earnings per share:
Net income	$	37,193		$	11,645		$	14,533
Less: Earnings allocated to unvested restricted stock	(135		)	(57		)	(62		)
Income attributable to common stockholders	$	37,058		$	11,588		$	14,471

Denominator:
Denominator for basic earnings per common share - weighted average shares outstanding	16,438			17,971			17,877
Effect of dilutive securities:
Stock options	336			66			118
Convertible subordinated notes	941			337			10
Denominator for diluted earnings per common share - weighted average shares outstanding	17,715			18,374			18,005

Basic earnings per common share	$	2.25		$	0.64		$	0.81
Diluted earnings per common share	$	2.09		$	0.63		$	0.80

Revenue From Contracts With Customers (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Number of business segments \| segment									2
Revenue from contracts with customers	$ 71,149	$ 66,125	$ 67,752	$ 69,081	$ 66,517	$ 64,241	$ 63,847	$ 73,387	$ 274,107	$ 267,992	$ 258,139
Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									142,554	138,604	132,592
Merchandise
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									83,347	82,802	79,760
Cemetery interment rights
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									31,167	29,451	28,286
Other revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									17,039	17,135	17,501
Funeral
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									216,868	210,725	200,886
Funeral \| Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									131,636	127,262	120,827
Funeral \| Merchandise
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									75,682	74,644	71,573
Funeral \| Cemetery interment rights
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									0	0	0
Funeral \| Other revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									9,550	8,819	8,486
Cemetery
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									57,239	57,267	57,253
Cemetery \| Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									10,918	11,342	11,765
Cemetery \| Merchandise
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									7,665	8,158	8,187
Cemetery \| Cemetery interment rights
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									31,167	29,451	28,286
Cemetery \| Other revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers									$ 7,489	$ 8,316	$ 9,015

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Tax Disclosure

INCOME TAXES

The provision (benefit) for income taxes for the years ended December 31, 2017, 2018 and 2019 consisted of the following (in thousands):



	Years Ended December 31,
	2017			2018		2019
Current:
U. S. federal provision (benefit)	$	6,425		$	1,489	$	(2,039	)
State provision (benefit)	815			1,309		(195		)
Total current provision (benefit)	$	7,240		$	2,798	$	(2,234	)
Deferred:
U. S. federal provision (benefit)	$	(12,881	)	$	2,831	$	8,056
State provision	1,230			992		2,061
Total deferred provision (benefit)	$	(11,651	)	$	3,823	$	10,117
Total income tax provision (benefit)	$	(4,411	)	$	6,621	$	7,883

A reconciliation of taxes calculated at the U.S. federal statutory rate to those reflected in the Consolidated Statements of Operations for the years ended December 31, 2017, 2018 and 2019 is as follows (dollars in thousands):



	Years Ended December 31,
	2017						2018						2019
	Amount			Percent			Amount			Percent			Amount			Percent
Federal statutory rate	$	11,474		35.0		%	$	3,834		21.0		%	$	4,707		21.0		%
Effect of state income taxes, net of federal benefit	1,304			4.0			1,776			9.7			1,352			6.0
Effect of non-deductible expenses and other, net	(36		)	(0.1	)		1,451			7.9			947			4.2
Effect of divestiture and impairment of business	—			—			—			—			911			4.1
Change in valuation allowance	23			0.1			26			0.1			(34		)	(0.2	)
Re-measurement of deferred taxes due to tax reform	(17,176		)	(52.4	)		(466		)	(2.5	)		—			—
Total	$	(4,411	)	(13.5	)	%	$	6,621		36.2		%	$	7,883		35.1		%

On May 10, 2017, we filed amended federal returns for the tax years ending December 31, 2013, 2014 and 2015, which generated significant refunds. As a result, on July 18, 2017, we received notification that the IRS selected our tax years ended December 31, 2013, 2014 and 2015 for a limited scope examination to verify the refunds due. The examination was still ongoing as of December 31, 2019. The federal statute of limitations remains open for our tax years from 2015 through 2018.

The tax effects of temporary differences from total operations that give rise to significant deferred tax assets and liabilities at December 31, 2018 and 2019 are as follows (in thousands):



	Years Ended December 31,
	2018			2019
Deferred income tax assets:
Net operating loss carryforwards	$	1,569		$	3,602
Interest expense limitation	996			4,190
Tax credit carryforwards	133			100
State bonus depreciation	970			1,124
Accrued liabilities and other	5,493			5,124
Amortization of non-compete agreements	1,135			1,104
Preneed liabilities	4,242			—
Total deferred income tax assets	14,538			15,244
Less valuation allowance	(276		)	(234		)
Total deferred income tax assets	$	14,262		$	15,010
Deferred income tax liabilities:
Depreciation and amortization	$	(45,150	)	$	(49,568	)
Preneed liabilities	—			(6,446		)
Convertible subordinated notes due 2021	(131		)	(75		)
Prepaids and other	(244		)	(289		)
Total deferred income tax liabilities	(45,525		)	(56,378		)
Total net deferred tax liabilities	$	(31,263	)	$	(41,368	)

Our deferred tax assets and liabilities, along with related valuation allowances are classified as non-current on our Consolidated Balance Sheet at December 31, 2018 and 2019.

For federal income tax reporting purposes, we have net operating loss carryforwards of $7.2 million with an indefinite life that will not expire. For state reporting purposes, we have $45.8 million of net operating loss carryforwards that will expire between 2020 and 2038, if not utilized. Based on management’s assessment of the various state net operating losses, it was determined that it is more likely than not that we will be able to realize tax benefits on some portion of the amount of the state losses. The valuation allowance at December 31, 2019 was attributable to the deferred tax asset related to a portion of the state operating losses.

The federal and state net operating loss (NOL) carryforwards in the income tax returns filed included unrecognized tax benefits.

We analyze tax benefits for uncertain tax positions and how they are to be recognized, measured, and derecognized in financial statements; provide certain disclosures of uncertain tax matters; and specify how reserves for uncertain tax positions should be classified on our Consolidated Balance Sheet. The deferred tax assets recognized for those NOLs are presented net of these unrecognized tax benefits.

At December 31, 2019, the Company’s unrecognized tax benefits reserve for uncertain tax positions primarily relates to pending accounting method changes filed for the tax year ending December 31, 2018. In 2018, we filed two Form 3115s, Application for Change in Accounting Method, and associated statements to request consent to change the method of accounting for deferred revenue for our cemetery property and cemetery merchandise and service operations for the tax year beginning January 1, 2018. These method changes are still under review. The amount of the reserve recorded as of December 31, 2019 was $0.7 million. No reserve was recorded at December 31, 2018.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):



	Years Ended December 31,
	2017		2018		2019
Unrecognized tax benefit at beginning of year	$	—	$	—	$	—
Gross increases - tax positions in prior period	—		—		691
Gross decreases - tax positions in prior period	—		—		—
Gross increases - tax positions in current period	—		—		—
Settlement	—		—		—
Unrecognized tax benefit at end of year	$	—	$	—	$	691

There are no balances included in unrecognized tax benefits that, if recognized, would affect the effective tax rate. We believe that it is reasonably possible that a decrease of the entire unrecognized tax benefit may be recognized within the next 12 months.

See Note 3 to the Consolidated Financial Statements included herein, for a additional information regarding the Fairfax, Virginia acquisition.

Cemetery Perpetual Care Trust Investments (Tables)

12 Months Ended

Dec. 31, 2019

Debt Securities, Available-for-sale [Line Items]

Components of Care Trusts' Corpus

The components of Care trusts’ corpus as of December 31, 2018 and 2019 are as follows (in thousands):



	December 31, 2018			December 31, 2019
Cemetery perpetual care trust investments, at market value	$	44,071		$	64,047
Obligations due from trust	(577		)	(631		)
Care trusts’ corpus	$	43,494		$	63,416

Cost and fair market values associated with the trust investments held in perpetual care trust funds

The following table reflects the cost and fair market values associated with the trust investments held in perpetual care trust funds at December 31, 2019 (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	4,624	$	—	$	—		$	4,624
Fixed income securities:
Foreign debt	2	4,200		238		(175		)	4,263
Corporate debt	2	11,658		802		(534		)	11,926
Preferred stock	2	10,782		666		(106		)	11,342
Mortgage-backed securities	2	324		—		(71		)	253
Common stock	1	21,594		3,399		(1,911		)	23,082
Mutual funds:
Equity	1	233		146		(1		)	378
Fixed income	2	7,156		618		(107		)	7,667
Trust securities		$	60,571	$	5,869	$	(2,905	)	$	63,535
Accrued investment income		$	512						$	512
Cemetery perpetual care investments									$	64,047
Market value as a percentage of cost									104.9		%

The following table reflects the cost and market values associated with the trust investments held in perpetual care trust funds at December 31, 2018 (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	11,144	$	—	$	—		$	11,144
Fixed income securities:
Foreign debt	2	2,872		27		(385		)	2,514
Corporate debt	2	9,956		227		(730		)	9,453
Preferred stock	2	8,141		37		(820		)	7,358
Mortgage-backed securities	2	417		101		(9		)	509
Common stock	1	15,562		542		(3,395		)	12,709
Trust securities		$	48,092	$	934	$	(5,339	)	$	43,687
Accrued investment income		$	384						$	384
Cemetery perpetual care investments									$	44,071
Market value as a percentage of cost									90.8		%

Estimated maturities of fixed perpetual care trust income securities

The estimated maturities of the fixed income securities included above are as follows (in thousands):



Due in one year or less	$	—
Due in one to five years	3,130
Due in five to ten years	6,786
Thereafter	17,868
Total fixed income securities	$	27,784

Perpetual care trust investment security transactions recorded in interest income and other, net

Perpetual care trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Realized gains	$	926		$	1,364		$	1,663
Realized losses	(1,195		)	(1,896		)	(1,258		)
Net change in Care trusts’ corpus	269			532			(405		)
Total	$	—		$	—		$	—

Perpetual care trust investment security transactions recorded in cemetery revenue

Perpetual care trust investment security transactions recorded in Other revenue for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Investment income	$	5,949		$	5,934		$	4,500
Realized losses, net	(838		)	(1,355		)	(377		)
Total	$	5,111		$	4,579		$	4,123

Purchases and sales of investments in perpetual care trusts

Purchases and sales of investments in the perpetual care trusts for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Purchases	$	(13,923	)	$	(17,313	)	$	(26,573	)
Sales	8,899			25,786			17,588

Perpetual Care Trust Investments

Debt Securities, Available-for-sale [Line Items]

Schedule of unrealized loss position, fair value

Our perpetual care trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses for the year ended December 31, 2019 are shown in the following tables (in thousands):



	December 31, 2019
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	168	$	(26	)	$	549	$	(149	)	$	717	$	(175	)
Corporate debt	1,057		(196		)	3,253		(338		)	4,310		(534		)
Preferred stock	2,989		(106		)	—		—			2,989		(106		)
Mortgage-backed securities	—		—			252		(71		)	252		(71		)
Common stock	3,299		(463		)	2,657		(1,448		)	5,956		(1,911		)
Mutual funds:
Equity and Other	2		—			18		(1		)	20		(1		)
Fixed income	732		(94		)	360		(13		)	1,092		(107		)
Total temporary impaired securities	$	8,247	$	(885	)	$	7,089	$	(2,020	)	$	15,336	$	(2,905	)

Our perpetual care trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses for the year ended December 31, 2018 are shown in the following tables (in thousands):



	December 31, 2018
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	1,619	$	(189	)	$	639	$	(196	)	$	2,258	$	(385	)
Corporate debt	7,006		(587		)	301		(143		)	7,307		(730		)
Preferred stock	3,586		(279		)	2,787		(541		)	6,373		(820		)
Mortgage-backed securities	—		—			32		(9		)	32		(9		)
Common stock	9,010		(2,557		)	733		(838		)	9,743		(3,395		)
Total temporary impaired securities	$	21,221	$	(3,612	)	$	4,492	$	(1,727	)	$	25,713	$	(5,339	)

Goodwill (Changes in Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill at the beginning of year	$ 303,887
Increase in goodwill related to acquisitions	99,344	$ 16,777
Decrease in goodwill related to divestitures	(4,197)	0
Decrease in goodwill related to impairments	(742)	(846)
Goodwill at the end of the year	398,292	303,887
Goodwill and Intangible Asset Impairment	500	$ 800
Goodwill, Other Increase (Decrease)	200
Cemetery
Goodwill [Roll Forward]
Increase in goodwill related to acquisitions	36,900
Funeral
Goodwill [Roll Forward]
Increase in goodwill related to acquisitions	$ 62,400

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Non-Compete, Consulting and Employment Agreements

We have various non-compete agreements with former owners and employees. These agreements are generally for one to ten years and provide for periodic future payments over the term of the agreements.

We have various consulting agreements with former owners of businesses we have acquired. Payments for such agreements are generally not made in advance. These agreements are generally for one to five years and provide for bi-weekly or monthly payments.

We have employment agreements with certain of our executive officers and senior leadership. These agreements are generally for three to five years and provide for participation in various incentive compensation arrangements. These agreements generally renew automatically on an annual basis after their initial term has expired.

At December 31, 2019, the maximum estimated future cash commitments under these agreements with remaining commitment terms, and with original terms of more than one year, are as follows (in thousands):



	Non-Compete		Consulting		Employment^(a)		Total
Years ending December 31,
2020	$	2,135	$	869	$	3,482	$	6,486
2021	1,905		663		3,482		6,050
2022	1,465		404		3,077		4,946
2023	993		162		777		1,932
2024	665		20		648		1,333
Thereafter	927		—		—		927
Total	$	8,090	$	2,118	$	11,466	$	21,674




(a)	Melvin C. Payne, our Chairman of the Board and Chief Executive Officer, has an employment agreement that does not renew after the initial term of five years.

401(K) Plan

We sponsor a defined contribution plan (401K) for the benefit of our employees. Matching contributions and plan administrative expenses totaled $1.9 million, $2.1 million and $2.0 million during the years ended December 31, 2017, 2018 and 2019, respectively. We do not offer any post-retirement or post-employment benefits.

Litigation

We are a party to various litigation matters 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. 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.

Faria, et al. v. Carriage Funeral Holdings, Inc., Superior Court of California, Contra Costa County, Case No. MSC18-00606. On March 26, 2018, six Plaintiffs filed a putative class action against Carriage Funeral Holdings, Inc., our subsidiary, their alleged employer, on behalf of themselves and all similarly situated current and former employees. Plaintiffs seek monetary damages and claim that Carriage Funeral Holdings, Inc. failed to pay minimum wages, provide meal and rest breaks, provide accurately itemized wage statements, reimburse employees for required expenses, and provide wages when due. Plaintiffs also claim that Carriage Funeral Holdings, Inc. violated California Business and Professions Code §17200 et seq. On June 5, 2018, Plaintiffs filed a First Amended Complaint to add a claim under the California Private Attorney General Act. On October 23, 2018, the parties mediated this matter and executed a Memorandum of Understanding for class settlement. In February 2019, a Class Action Settlement Agreement was fully executed and was approved by the Court in October 2019. We paid $0.7 million under the settlement agreement in November 2019.

Commitments and Contingencies Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Other Commitments [Table Text Block]



	Non-Compete		Consulting		Employment^(a)		Total
Years ending December 31,
2020	$	2,135	$	869	$	3,482	$	6,486
2021	1,905		663		3,482		6,050
2022	1,465		404		3,077		4,946
2023	993		162		777		1,932
2024	665		20		648		1,333
Thereafter	927		—		—		927
Total	$	8,090	$	2,118	$	11,466	$	21,674

Supplementary Information (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Income Statement Elements [Abstract]

Supplementary Balance Sheet Disclosures

The detail of certain balance sheet accounts as of December 31, 2018 and 2019 is as follows (in thousands):



	December 31,
	2018		2019
Prepaids and other current assets:
Prepaid expenses	$	1,456	$	1,596
Deposit on pending acquisition	—		5,000
Federal income tax receivable	923		2,973
State income tax receivable	422		986
Other current assets	210		112
Total other current assets	$	3,011	$	10,667

Accrued and other liabilities:
Accrued salaries and wages	$	4,088	$	4,323
Accrued incentive compensation	7,395		9,199
Accrued vacation	2,358		2,880
Accrued insurance	3,188		2,329
Accrued interest	1,856		2,299
Accrued ad valorem and franchise taxes	904		678
Accrued commissions	441		560
Perpetual care trust taxes payable	962		401
Deferred rent	274		—
Other accrued liabilities	1,178		1,357
Total accrued and other liabilities	$	22,644	$	24,026

Other long-term liabilities:
Deferred rent	$	692	$	—
Incentive compensation	1,563		1,267
Contingent consideration	878		470
Total other long-term liabilities	$	3,133	$	1,737

Cemetery Perpetual Care Trust Investments (Perpetual care trust investment security transactions recorded in Cemetery revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cemetery Perpetual Care Trust Investments [Abstract]
Investment income	$ 4,500	$ 5,934	$ 5,949
Realized losses, net	(377)	(1,355)	(838)
Increase in Care trusts’ corpus	$ 4,123	$ 4,579	$ 5,111

Quarterly Financial Data (Unaudited) Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The tables below set forth consolidated operating results by fiscal quarter for the years ended December 31, 2018 and 2019 (in thousands, except earnings per share):



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2019
Revenue	$	69,081	$	67,752	$	66,125	$	71,149
Gross profit	21,600		19,250		18,056		20,679
Net income	$	6,525	$	4,862	$	577	$	2,569
Basic earnings per common share: (a)	$	0.36	$	0.27	$	0.03	$	0.14
Diluted earnings per common share: (a)	$	0.36	$	0.27	$	0.03	$	0.14

2018
Revenue	$	73,387	$	63,847	$	64,241	$	66,517
Gross profit	24,188		16,825		17,114		17,820
Net income (loss)	$	9,356	$	2,747	$	2,200	$	(2,658	)
Basic earnings per common share: (a)	$	0.58	$	0.15	$	0.11	$	(0.14	)
Diluted earnings per common share: (a)	$	0.52	$	0.15	$	0.11	$	(0.14	)




(a)	Earnings per share are computed independently for each of the quarters presented. Therefore, the sum of the quarterly per share amounts may not equal the total computed for 2018 and 2019 due to rounding.

Long-Term Debt Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Our long-term debt consisted of the following at December 31, 2018 and 2019 (in thousands):



	December 31, 2018			December 31, 2019
Credit Facility	$	27,100		$	83,800
Acquisition debt	8,940			6,964
Debt issuance costs, net of accumulated amortization of $108 and $337	(955		)	(1,618		)
Less: current portion	(2,015		)	(1,306		)
Total long-term debt	$	33,070		$	87,840

Schedule of Maturities of Long-term Debt

The aggregate maturities of our long-term debt for the next five years subsequent to December 31, 2019 and thereafter are as follows (in thousands):



Years ending December 31,
2020	$	1,289
2021	1,023
2022	523
2023	84,363
2024	550
Thereafter	3,016
Total	$	90,764

The aggregate maturities of our Convertible Notes for the five years subsequent to December 31, 2019 are as follows (in thousands):



	Principal Maturity		Discount Amortization			Present Value
Years ending December 31,
2020	$	—	$	(270	)	$	(270	)
2021	6,319		(49		)	6,270
2022	—		—			—
2023	—		—			—
2024	—		—			—
Thereafter	—		—			—
Total	$	6,319	$	(319	)	$	6,000

The aggregate maturities of our Senior Notes for the five years subsequent to December 31, 2019 are as follows (in thousands):



	Principal Maturity		Discount Amortization			Premium Amortization		Present Value
Years ending December 31,
2020	$	—	$	(528	)	$	221	$	(307	)
2021	—		(565		)	235		(330		)
2022	—		(605		)	250		(355		)
2023	—		(648		)	266		(382		)
2024	—		(694		)	283		(411		)
Thereafter	400,000		(1,070		)	433		399,363
Total	$	400,000	$	(4,110	)	$	1,688	$	397,578

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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-Name Accounting Standards Codification
-Topic 835
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Recently Issued Accounting Standards Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Number of days past due contractual payments are when they are provided for with a one hundred percent allowance (in Days)	90 days
Operating lease right-of-use assets	$ 22,304	$ 16,470	$ 0
Operating Lease, Liability		$ 17,300

Preneed Trust Investments (Cost and fair market values associated with preneed cemetery trust investments) (Details) - Preneed Cemetery Trust Investments - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Preneed cemetery trust investments	$ 74,572	$ 64,549
Market value as a percentage of cost	101.10%	90.60%
Foreign Debt
Debt and Equity Securities, FV-NI [Line Items]
Cost		$ 3,802
Unrealized Gains		43
Unrealized Losses		(511)
Fair Market Value		3,334
Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost		13,987
Unrealized Gains		362
Unrealized Losses		(1,026)
Fair Market Value		13,323
Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost		11,068
Unrealized Gains		54
Unrealized Losses		(1,146)
Fair Market Value		9,976
Mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Cost		666
Unrealized Gains		161
Unrealized Losses		(14)
Fair Market Value		813
Trust securities
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 73,009	70,584
Unrealized Gains	5,098	1,523
Unrealized Losses	(4,272)	(8,133)
Fair Market Value	73,835	63,974
Accrued investment income
Debt and Equity Securities, FV-NI [Line Items]
Cost	737	575
Fair Market Value	737	575
Fair Value, Level 1 \| Cash and money market accounts
Debt and Equity Securities, FV-NI [Line Items]
Cost	5,729	16,194
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	5,729	16,194
Fair Value, Level 1 \| Common stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	28,569	24,867
Unrealized Gains	2,766	903
Unrealized Losses	(3,017)	(5,436)
Fair Market Value	28,318	$ 20,334
Fair Value, Level 2 \| Foreign Debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	5,609
Unrealized Gains	312
Unrealized Losses	(243)
Fair Market Value	5,678
Fair Value, Level 2 \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	16,916
Unrealized Gains	1,044
Unrealized Losses	(649)
Fair Market Value	17,311
Fair Value, Level 2 \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	14,206
Unrealized Gains	904
Unrealized Losses	(164)
Fair Market Value	14,946
Fair Value, Level 2 \| Mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Cost	517
Unrealized Gains	0
Unrealized Losses	(114)
Fair Market Value	403
Fair Value, Level 2 \| Fixed income
Debt and Equity Securities, FV-NI [Line Items]
Cost	1,463
Unrealized Gains	72
Unrealized Losses	(85)
Fair Market Value	$ 1,450

Convertible Subordinated Notes Convertible Subordinated Notes (Liability and Equity Components) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Accumulated Amortization, Debt Issuance Costs	$ 4,442	$ 4,138
Principal amount	90,764
Unamortized discount of liability component	(319)
Debt Issuance Costs, Net	1,618	955
Convertible subordinated notes due 2021	5,971	5,732
Convertible subordinated notes
Debt Instrument [Line Items]
Accumulated Amortization, Debt Issuance Costs	130	106
Principal amount	6,319	6,346
Unamortized discount of liability component	(319)	(560)
Debt Issuance Costs, Net	29	54
Convertible subordinated notes due 2021	5,971	5,732
Carrying value of the equity component	$ 789	$ 789

Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date applicable for items that are recognized or disclosed at fair value in the financial statements on a recurring basis. We disclose the extent to which fair value is used to measure financial assets and liabilities, the inputs utilized in calculating valuation measurements, and the effect of the measurement of significant unobservable inputs on earnings, or changes in net assets, as of the measurement date.

We evaluated our financial assets and liabilities for those financial assets and liabilities that met the criteria of the disclosure requirements and fair value framework. 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. Our long-term debt and Credit Facility (as defined in Note 14) are classified within Level 2 of the Fair Value Measurements hierarchy. The fair values of the long-term debt and Credit Facility approximate the carrying values of these instruments based on the index yields of similar securities compared to U.S. Treasury yield curves. The fair value of the Convertible Notes (as defined in Note 15) was approximately $7.8 million at December 31, 2019 based on the last traded or broker quoted price. The fair value of the Senior Notes (as defined in Note 16) was approximately $426.4 million at December 31, 2019 based on the last traded or broker quoted price. We identified investments in fixed income securities, common stock and mutual funds presented within the preneed and perpetual care trust investments categories on our Consolidated Balance Sheet as having met the criteria for fair value measurement.

The following three-level valuation hierarchy based upon the transparency of inputs is utilized in the measurement and valuation of financial assets or liabilities as of the measurement date:


•	Level 1—Fair value of securities based on unadjusted quoted prices for identical assets or liabilities in active markets. Our investments classified as Level 1 securities include cash, common stock and U.S. treasury debt;

•

Level 2—Fair value of securities estimated based on quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted market prices that are observable or that can be corroborated by observable market data by correlation. These inputs include interest rates, yield curves, credit risk, prepayment speeds, rating and tax-exempt status. Our investments classified as Level 2 securities include municipal bonds, corporate debt, preferred stocks, foreign debt, mortgage-backed securities, fixed income mutual funds and other investments.


•	Level 3—Unobservable inputs based upon the reporting entity’s internally developed assumptions, which market participants would use in pricing the asset or liability. As of December 31, 2018 and 2019, we did not have any assets that had fair values determined by Level 3 inputs and no liabilities measured at fair value.

We account for our investments as available-for-sale and measure them at fair value under standards of financial accounting and reporting for investments in equity instruments that have readily determinable fair values and for all investments in debt securities. See Notes 7 and 11 to our Consolidated Financial Statements herein for the fair value hierarchy levels of our trust investments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Preneed Trust Investments (Purchases and sales of investments in preneed funeral trusts) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Purchases	$ (38,984)	$ (28,264)	$ (21,954)
Sales	$ 29,983	$ 39,955	$ 14,463

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets:
Net operating loss carryforwards	$ 3,602	$ 1,569
Deferred Tax Asset, Interest Carryforward	4,190	996
Tax credit carryforwards	100	133
State bonus depreciation	1,124	970
Accrued liabilities and other	5,124	5,493
Amortization of non-compete agreements	1,104	1,135
Preneed liabilities, net	0	4,242
Total deferred income tax assets	15,244	14,538
Less valuation allowance	(234)	(276)
Total deferred income tax assets	15,010	14,262
Deferred income tax liabilities:
Depreciation and amortization	(49,568)	(45,150)
Convertible subordinated notes due 2021	(75)	(131)
Prepaids and other	(289)	(244)
Total deferred income tax liabilities	(56,378)	(45,525)
Deferred Tax Liabilities, Net	$ (41,368)	$ (31,263)

Senior Notes Aggregate Maturities (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	May 31, 2018
Principal Maturity
2020	$ 1,289,000
2021	1,023,000
2022	523,000
2023	84,363,000
2024	550,000
Thereafter	3,016,000
Senior Notes [Member]
Principal Maturity
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	400,000,000
Principal Maturity	400,000,000		$ 325,000,000
Discount Amortization
2020	(528,000)
2021	(565,000)
2022	(605,000)
2023	648,000
2024	(694,000)
Thereafter	(1,070,000)
Discount Amortization	4,110,000	$ 4,602,000
Debt Instrument, Unamortized Premium	1,688,000
Debt Instrument, Premium Amortized After Year Five	433,000
Debt Instrument, Premium Amortized in Year Five	283,000
Debt Instrument, Premium Amortized in Year Four	266,000
Debt Instrument, Premium Amortized in Year Three	250,000
Debt Instrument, Premium Amortized in Year Two	235,000
Debt Instrument, Premium Amortized in Next Twelve Months	221,000
Present Value
2020	(307,000)
2021	(330,000)
2022	(355,000)
2023	(382,000)
2024	(411,000)
Thereafter	399,363,000
Present Value	$ 397,578,000

Stockholders' Equity (Accumulated Other Comprehensive Income) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Equity [Abstract]
Decrease in net unrealized gains associated with available-for-sale securities of the trusts	$ 5
Reclassification of net unrealized gain activity attributable to the Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus’	(5)
Balance at December 31, 2019	$ 0

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 2,131,000

Convertible Subordinated Notes (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Convertible Subordinated Notes, Carrying Values of Liability and Equity Components

as $0.1 million.

The carrying values of the liability and equity components of the Convertible Notes at December 31, 2018 and 2019 are reflected on our Consolidated Balance Sheet as follows (in thousan

Schedule of Maturities of Long-term Debt

The aggregate maturities of our long-term debt for the next five years subsequent to December 31, 2019 and thereafter are as follows (in thousands):



Years ending December 31,
2020	$	1,289
2021	1,023
2022	523
2023	84,363
2024	550
Thereafter	3,016
Total	$	90,764

The aggregate maturities of our Convertible Notes for the five years subsequent to December 31, 2019 are as follows (in thousands):



	Principal Maturity		Discount Amortization			Present Value
Years ending December 31,
2020	$	—	$	(270	)	$	(270	)
2021	6,319		(49		)	6,270
2022	—		—			—
2023	—		—			—
2024	—		—			—
Thereafter	—		—			—
Total	$	6,319	$	(319	)	$	6,000

The aggregate maturities of our Senior Notes for the five years subsequent to December 31, 2019 are as follows (in thousands):



	Principal Maturity		Discount Amortization			Premium Amortization		Present Value
Years ending December 31,
2020	$	—	$	(528	)	$	221	$	(307	)
2021	—		(565		)	235		(330		)
2022	—		(605		)	250		(355		)
2023	—		(648		)	266		(382		)
2024	—		(694		)	283		(411		)
Thereafter	400,000		(1,070		)	433		399,363
Total	$	400,000	$	(4,110	)	$	1,688	$	397,578

Receivables from Preneed Trusts (Receivables from preneed funeral trust funds) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Receivables From Preneed Trusts [Abstract]
Preneed trust funds, at cost	$ 18,581	$ 17,601
Less: allowance for contract cancellation	(557)	(528)
Receivables from preneed funeral trusts	$ 18,024	$ 17,073

Supplementary Information Supplementary Information (Balance Sheet Disclosures) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Prepaids and other current assets:
Prepaid and other current assets	$ 1,596	$ 1,308	$ 1,456
Escrow Deposit	5,000		0
Other current assets	112		210
Total other current assets	10,667		3,011
Long-term Debt, Current Maturities	1,306		2,015
Long-term Debt and Lease Obligation, Current	1,306		2,015
Deferred Rent Credit, Current	0		274
Accrued and other liabilities:
Accrued salaries and wages	4,323		4,088
Accrued incentive compensation	9,199		7,395
Accrued vacation	2,880		2,358
Accrued insurance	2,329		3,188
Accrued interest	2,299		1,856
Accrued ad valorem and franchise taxes	678		904
Accrued commissions	560		441
Other accrued liabilities	1,357		1,178
Total accrued and other liabilities	24,026		22,644
Perpetual Care Trust Taxes Payable	401		962
Deferred Rent Credit, Noncurrent	0		692
Accrued Bonuses	1,267		1,563
Business Combination, Contingent Consideration, Liability, Noncurrent	470		878
Other long-term liabilities	1,737	$ 2,441	3,133
Domestic Tax Authority [Member]
Prepaids and other current assets:
State income tax receivable	2,973		923
State
Prepaids and other current assets:
State income tax receivable	$ 986		$ 422

Cemetery Perpetual Care Trust Investments (Perpetual care trust investment security transactions recorded in interest income and other, net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Net change in deferred preneed cemetery receipts held in trust	$ (4,123)	$ (4,579)	$ (5,111)
Perpetual Care Trust Investments \| Other Interest Income
Debt and Equity Securities, FV-NI [Line Items]
Realized gains	1,663	1,364	926
Realized losses	(1,258)	(1,896)	(1,195)
Net change in deferred preneed cemetery receipts held in trust	$ (405)	$ 532	$ 269

Preneed Trust Investments

12 Months Ended

Dec. 31, 2019

Preneed Trust Investments [Abstract]

PRENEED TRUST INVESTMENTS

Preneed Cemetery Trust Investments

Preneed cemetery trust investments represent trust fund assets that we are generally permitted to withdraw as the services and merchandise are provided to customers. Preneed cemetery contracts are secured by payments from customers, less amounts not required by law to be deposited into trust. Preneed cemetery trust investments are reduced by the trust earnings we have been allowed to withdraw in certain states prior to our performance.

The components of Preneed cemetery trust investments on our Consolidated Balance Sheet at December 31, 2018 and 2019 are as follows (in thousands):



	December 31, 2018			December 31, 2019
Preneed cemetery trust investments, at market value	$	64,549		$	74,572
Less: allowance for contract cancellation	(2,117		)	(2,190		)
Preneed cemetery trust investments, net	$	62,432		$	72,382

Upon cancellation of a preneed cemetery contract, a customer is generally entitled to receive a refund of the corpus, and in some instances, a portion of all of the earnings held in trust. In certain jurisdictions, we may be obligated to fund any shortfall if the amounts deposited by the customer exceed the funds in trust, including investment income. As a result, when realized or unrealized losses of a trust result in the trust being underfunded, we assess whether we are responsible for replenishing the corpus of the trust, in which case a loss provision is recorded. At December 31, 2019, none of our preneed cemetery trust investments were underfunded.

Earnings from our preneed cemetery trust investments are recognized in revenue when a service is performed or merchandise is delivered. Trust management fees charged by CSV RIA are included as revenue in the period in which they are earned.

Where quoted prices are available in an active market, investments held by the trusts are classified as Level 1 investments pursuant to the three-level valuation hierarchy. Our Level 1 investments include cash and common stock. Where quoted market prices are not available for the specific security, fair values are estimated by using quoted prices of similar securities in active markets or other inputs other than quoted prices that can corroborate observable market data. These investments are fixed income securities, including foreign debt, corporate debt, preferred stock, mortgage-backed securities and fixed income mutual funds, all of which are classified within Level 2 of the valuation hierarchy. We review and update our fair value hierarchy classifications quarterly. There were no transfers between Levels 1 and 2 in the year ended December 31, 2019. There are no Level 3 investments in the preneed cemetery trust investment portfolio. See Note 12 to the Consolidated Financial Statements included herein for further information of the fair value measurement and the three-level valuation hierarchy.

The cost and fair market values associated with preneed cemetery trust investments at December 31, 2019 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	5,729	$	—	$	—		$	5,729
Fixed income securities:
Foreign debt	2	5,609		312		(243		)	5,678
Corporate debt	2	16,916		1,044		(649		)	17,311
Preferred stock	2	14,206		904		(164		)	14,946
Mortgage-backed securities	2	517		—		(114		)	403
Common stock	1	28,569		2,766		(3,017		)	28,318
Mutual funds:
Fixed Income	2	1,463		72		(85		)	1,450
Trust securities		$	73,009	$	5,098	$	(4,272	)	$	73,835
Accrued investment income		$	737						$	737
Preneed cemetery trust investments									$	74,572
Market value as a percentage of cost									101.1		%

The estimated maturities of the fixed income securities included above are as follows (in thousands):



Due in one year or less	$	—
Due in one to five years	4,518
Due in five to ten years	10,395
Thereafter	23,425
Total fixed income securities	$	38,338

The cost and market values associated with preneed cemetery trust investments at December 31, 2018 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	16,194	$	—	$	—		$	16,194
Fixed income securities:
Foreign debt	2	3,802		43		(511		)	3,334
Corporate debt	2	13,987		362		(1,026		)	13,323
Preferred stock	2	11,068		54		(1,146		)	9,976
Mortgage-backed securities	2	666		161		(14		)	813
Common stock	1	24,867		903		(5,436		)	20,334
Trust Securities		$	70,584	$	1,523	$	(8,133	)	$	63,974
Accrued investment income		$	575						$	575
Preneed cemetery trust investments									$	64,549
Market value as a percentage of cost									90.6		%

We determine whether or not the assets in the preneed cemetery trust investments have an other-than-temporary impairment on a security-by-security basis. This assessment is made based upon a number of criteria, including the length of time a security has been in a loss position, changes in market conditions and concerns related to the specific issuer. If a loss is considered to be other-than-temporary, the cost basis of the security is adjusted downward to its fair market value. Any reduction in the cost basis of the investment due to an other-than-temporary impairment is likewise recorded as a reduction in Deferred preneed cemetery receipts held in trust on our Consolidated Balance Sheet. We did not record any impairments in the year ended December 31, 2018 and 2019. There is no impact on earnings until such time that the loss is realized in the trusts, allocated to the preneed contracts and the services are performed or the merchandise is delivered causing the contract to be withdrawn from the trust in accordance with state regulations.

At December 31, 2019, we had certain investments within our preneed cemetery trust investments that had tax lots in loss positions for more than one year. Based on our analyses of these securities, the companies’ businesses and current market conditions, we determined that these investment losses were temporary in nature.

Our preneed cemetery trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of December 31, 2019 are shown in the following tables (in thousands):



	December 31, 2019
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	268	$	(42	)	$	758	$	(201	)	$	1,026	$	(243	)
Corporate debt	1,368		(168		)	4,520		(481		)	5,888		(649		)
Preferred stock	4,135		(164		)	—		—			4,135		(164		)
Mortgage-backed securities	—		—			402		(114		)	402		(114		)
Common stock	5,079		(652		)	4,178		(2,365		)	9,257		(3,017		)
Mutual funds:
Fixed Income	532		(85		)	—		—			532		(85		)
Total temporary impaired securities	$	11,382	$	(1,111	)	$	9,858	$	(3,161	)	$	21,240	$	(4,272	)

Our preneed cemetery trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of December 31, 2018 are shown in the following tables (in thousands):



	December 31, 2018
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	2,140	$	(245	)	$	895	$	(266	)	$	3,035	$	(511	)
Corporate debt	9,918		(813		)	443		(213		)	10,361		(1,026		)
Preferred stock	5,253		(399		)	3,767		(747		)	9,020		(1,146		)
Mortgage-backed securities	—		—			51		(14		)	51		(14		)
Common stock	14,191		(4,012		)	1,190		(1,424		)	15,381		(5,436		)
Total temporary impaired securities	$	31,502	$	(5,469	)	$	6,346	$	(2,664	)	$	37,848	$	(8,133	)

Preneed cemetery trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Investment income	$	2,250		$	1,596		$	1,743
Realized gains	2,218			4,546			6,353
Realized losses	(2,384		)	(5,817		)	(4,677		)
Expenses and taxes	(1,308		)	(907		)	(1,313		)
Net change in deferred preneed cemetery receipts held in trust	(776		)	582			(2,106		)
	$	—		$	—		$	—

Purchases and sales of investments in the preneed cemetery trusts for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Purchases	$	(21,966	)	$	(27,006	)	$	(40,984	)
Sales	14,002			39,180			29,635

Preneed Funeral Trust Investments

Preneed funeral trust investments represent trust fund assets that we are permitted to withdraw as services and merchandise are provided to customers. Preneed funeral contracts are secured by payments from customers, less retained amounts not required to be deposited into trust. Preneed funeral trust investments are reduced by the trust earnings we have been allowed to withdraw in certain states prior to our performance.

The components of Preneed funeral trust investments on our Consolidated Balance Sheet at December 31, 2018 and 2019 are as follows (in thousands):



	December 31, 2018			December 31, 2019
Preneed funeral trust investments, at market value	$	84,803		$	99,246
Less: allowance for contract cancellation	(2,729		)	(2,911		)
Preneed funeral trust investments	$	82,074		$	96,335

Upon cancellation of a preneed funeral contract, a customer is generally entitled to receive a refund of the corpus and in some instances, a portion of all earnings held in trust. In certain jurisdictions, we may be obligated to fund any shortfall if the amounts deposited by the customer exceed the funds in trust, including investment income. As a result, when realized or unrealized losses of a trust result in the trust being underfunded, we assess whether we are responsible for replenishing the corpus of the trust, in which case a loss provision is recorded. At December 31, 2019, none of our preneed funeral trust investments were underfunded.

Earnings from our preneed funeral trust investments are recognized in revenue when a service is performed or merchandise is delivered. Trust management fees charged by CSV RIA are included in revenue in the period in which they are earned.

Where quoted prices are available in an active market, investments held by the trusts are classified as Level 1 investments pursuant to the three-level valuation hierarchy. Our Level 1 investments include cash, U.S. treasury debt, common stock and equity mutual funds. Where quoted market prices are not available for the specific security, then fair values are estimated by using quoted prices of similar securities in active markets or other inputs other than quoted prices that can corroborate observable market data. These investments are fixed income securities, including foreign debt, corporate debt, preferred stocks, mortgage-backed securities and fixed income mutual funds and other investments, all of which are classified within Level 2 of the valuation hierarchy. We review and update our fair value hierarchy classifications quarterly. There were no transfers between Levels 1 and 2 for the year ended December 31, 2019. There are no Level 3 investments in the preneed funeral trust investment portfolio. See Note 12 to the Consolidated Financial Statements included herein for further information of the fair value measurement and the three-level valuation hierarchy.

The cost and fair market values associated with preneed funeral trust investments at December 31, 2019 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	24,160	$	—	$	—		$	24,160
Fixed income securities:
U. S. treasury debt	1	822		—		—			822
Foreign debt	2	5,587		309		(232		)	5,664
Corporate debt	2	16,109		992		(646		)	16,455
Preferred stock	2	14,094		874		(198		)	14,770
Mortgage-backed securities	2	585		—		(117		)	468
Common stock	1	27,652		2,773		(2,869		)	27,556
Mutual funds:
Equity	1	772		617		(4		)	1,385
Fixed income	2	4,364		107		(107		)	4,364
Other investments	2	2,902		—		—			2,902
Trust securities		$	97,047	$	5,672	$	(4,173	)	$	98,546
Accrued investment income		$	700						$	700
Preneed funeral trust investments									$	99,246
Market value as a percentage of cost									101.5		%

The estimated maturities of the fixed income securities included above are as follows (in thousands):



Due in one year or less	$	—
Due in one to five years	5,456
Due in five to ten years	9,656
Thereafter	23,067
Total fixed income securities	$	38,179

The cost and market values associated with preneed funeral trust investments at December 31, 2018 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	31,375	$	—	$	—		$	31,375
Fixed income securities:
U.S. treasury debt	1	1,319		3		(19		)	1,303
Foreign debt	2	3,748		44		(503		)	3,289
Corporate debt	2	14,195		294		(1,025		)	13,464
Preferred stock	2	11,500		54		(1,194		)	10,360
Mortgage-backed securities	2	772		168		(18		)	922
Common stock	1	24,803		887		(5,389		)	20,301
Mutual funds:
Fixed income	2	275		—		(29		)	246
Other investments	2	3,006		—		—			3,006
Trust securities		$	90,993	$	1,450	$	(8,177	)	$	84,266
Accrued investment income		$	537						$	537
Preneed funeral trust investments									$	84,803
Market value as a percentage of cost									92.6		%

We determine whether or not the assets in the preneed funeral trust investments have other-than-temporary impairments on a security-by-security basis. This assessment is made based upon a number of criteria including the length of time a security has been in a loss position, changes in market conditions and concerns related to the specific issuer. If a loss is considered to be other-than-temporary, the cost basis of the security is adjusted downward to its fair market value. Any reduction in the cost basis of the investment due to an other-than-temporary impairment is likewise recorded as a reduction to Deferred preneed funeral receipts held in trust on our Consolidated Balance Sheet. We did not record any impairments in the year ended December 31, 2018 and 2019. There is no impact on earnings until such time that the loss is realized in the trusts, allocated to preneed contracts and the services are performed or the merchandise is delivered causing the contract to be withdrawn from the trust in accordance with state regulations.

At December 31, 2019, we had certain investments within our preneed funeral trust investments that had tax lots in loss positions for more than one year. Based on our analyses of these securities, the companies’ businesses and current market conditions, we determined that these investment losses were temporary in nature.

Our preneed funeral trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of December 31, 2019 are shown the the following tables (in thousands):



	December 31, 2019
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	274	$	(43	)	$	723	$	(189	)	$	997	$	(232	)
Corporate debt	1,403		(172		)	4,433		(474		)	5,836		(646		)
Preferred stock	4,412		(198		)	—		—			4,412		(198		)
Mortgage-backed securities	—		—			439		(117		)	439		(117		)
Common Stock	4,732		(625		)	4,068		(2,244		)	8,800		(2,869		)
Mutual funds:
Equity and Other	—		—			48		(4		)	48		(4		)
Fixed income	668		(56		)	1,021		(51		)	1,689		(107		)
Total temporary impaired securities	$	11,489	$	(1,094	)	$	10,732	$	(3,079	)	$	22,221	$	(4,173	)

Our preneed funeral trust investment unrealized losses, their associated fair market values, and the duration of unrealized losses as of December 31, 2018 are shown the the following tables (in thousands):



	December 31, 2018
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
U.S. treasury debt	$	—	$	—		$	1,181	$	(19	)	$	1,181	$	(19	)
Foreign debt	2,180		(251		)	850		(252		)	3,030		(503		)
Corporate debt	9,990		(814		)	434		(211		)	10,424		(1,025		)
Preferred stock	5,967		(460		)	3,673		(734		)	9,640		(1,194		)
Mortgage-backed securities	11		—			120		(18		)	131		(18		)
Common Stock	14,327		(4,035		)	1,155		(1,354		)	15,482		(5,389		)
Mutual funds:
Fixed income	—		—			246		(29		)	246		(29		)
Total temporary impaired securities	$	32,475	$	(5,560	)	$	7,659	$	(2,617	)	$	40,134	$	(8,177	)

Preneed funeral trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Investment income	$	2,420		$	1,623		$	1,753
Realized gains	2,386			6,662			6,214
Realized losses	(2,396		)	(5,882		)	(4,612		)
Expenses and taxes	(1,290		)	(885		)	(1,129		)
Net change in deferred preneed funeral receipts held in trust	(1,120		)	(1,518		)	(2,226		)
	$	—		$	—		$	—

Purchases and sales of investments in the preneed funeral trusts for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Purchases	$	(21,954	)	$	(28,264	)	$	(38,984	)
Sales	14,463			39,955			29,983

Receivables from Preneed Trusts Receivables from Preneed Trusts (Composition of Asset Held in Trusts) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Historical Cost Basis
Investment Holdings [Line Items]
Assets Held-in-trust	$ 18,581	$ 17,601
Historical Cost Basis \| Cash and Cash Equivalents
Investment Holdings [Line Items]
Assets Held-in-trust	4,533	4,172
Historical Cost Basis \| Fixed Income Investments
Investment Holdings [Line Items]
Assets Held-in-trust	11,603	10,668
Historical Cost Basis \| Mutual Funds And Common Stocks
Investment Holdings [Line Items]
Assets Held-in-trust	2,440	2,755
Historical Cost Basis \| Annuities
Investment Holdings [Line Items]
Assets Held-in-trust	5	6
Fair Value
Investment Holdings [Line Items]
Assets Held-in-trust	18,659	17,555
Fair Value \| Cash and Cash Equivalents
Investment Holdings [Line Items]
Assets Held-in-trust	4,533	4,172
Fair Value \| Fixed Income Investments
Investment Holdings [Line Items]
Assets Held-in-trust	11,603	10,668
Fair Value \| Mutual Funds And Common Stocks
Investment Holdings [Line Items]
Assets Held-in-trust	2,518	2,709
Fair Value \| Annuities
Investment Holdings [Line Items]
Assets Held-in-trust	$ 5	$ 6

Preneed Trust Investments Preneed Trust Investments (Unrealized losses on preneed funeral trust investments) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	$ 11,489	$ 32,475
Unrealized Losses, In Loss Position Less than12 months	(1,094)	(5,560)
Fair market value, In Loss Position Greater than12 months	10,732	7,659
Unrealized Losses, In Loss Position Greater than12 months	(3,079)	(2,617)
Fair market value, Total	22,221	40,134
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(4,173)	(8,177)
U.S. treasury debt
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months		0
Unrealized Losses, In Loss Position Less than12 months		0
Fair market value, In Loss Position Greater than12 months		1,181
Unrealized Losses, In Loss Position Greater than12 months		(19)
Fair market value, Total		1,181
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		(19)
Corporate debt
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	274	2,180
Unrealized Losses, In Loss Position Less than12 months	(43)	(251)
Fair market value, In Loss Position Greater than12 months	723	850
Unrealized Losses, In Loss Position Greater than12 months	(189)	(252)
Fair market value, Total	997	3,030
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(232)	(503)
Preferred stock
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	1,403	9,990
Unrealized Losses, In Loss Position Less than12 months	(172)	(814)
Fair market value, In Loss Position Greater than12 months	4,433	434
Unrealized Losses, In Loss Position Greater than12 months	(474)	(211)
Fair market value, Total	5,836	10,424
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(646)	(1,025)
Mortgage-backed securities
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	4,412	5,967
Unrealized Losses, In Loss Position Less than12 months	(198)	(460)
Fair market value, In Loss Position Greater than12 months	0	3,673
Unrealized Losses, In Loss Position Greater than12 months	0	(734)
Fair market value, Total	4,412	9,640
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(198)	(1,194)
Mortgage-backed securities
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	0	11
Unrealized Losses, In Loss Position Less than12 months	0	0
Fair market value, In Loss Position Greater than12 months	439	120
Unrealized Losses, In Loss Position Greater than12 months	(117)	(18)
Fair market value, Total	439	131
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(117)	(18)
Fixed Income
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	4,732	14,327
Unrealized Losses, In Loss Position Less than12 months	(625)	(4,035)
Fair market value, In Loss Position Greater than12 months	4,068	1,155
Unrealized Losses, In Loss Position Greater than12 months	(2,244)	(1,354)
Fair market value, Total	8,800	15,482
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(2,869)	(5,389)
Equity and Other Securities [Member]
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	0
Unrealized Losses, In Loss Position Less than12 months	0
Fair market value, In Loss Position Greater than12 months	48
Unrealized Losses, In Loss Position Greater than12 months	(4)
Fair market value, Total	48
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(4)
Fixed income
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	668	0
Unrealized Losses, In Loss Position Less than12 months	(56)	0
Fair market value, In Loss Position Greater than12 months	1,021	246
Unrealized Losses, In Loss Position Greater than12 months	(51)	(29)
Fair market value, Total	1,689	246
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ (107)	$ (29)

Convertible Subordinated Notes

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Convertible Subordinated Notes

CONVERTIBLE SUBORDINATED NOTES

On March 19, 2014, we issued $143.75 million aggregate principal amount of our 2.75% convertible subordinated notes due 2021 (“Convertible Notes”). The Convertible Notes bear interest at 2.75% per year. Interest on the Convertible Notes began to accrue on March 19, 2014 and is payable semi-annually in arrears on March 15 and September 15 of each year.

On May 7, 2018, we completed our exchange (the “Exchange”) of approximately $115.0 million in aggregate principal amount of Convertible Notes in privately-negotiated exchange agreements with a limited number of convertible noteholders, for $74.8 million in cash (plus accrued interest of $0.4 million totaling $75.2 million) and 2,822,859 newly issued shares of our common stock, par value $.01 per share, pursuant to a private placement in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).

On December 24, 2018, we completed privately-negotiated repurchases of an additional $22.4 million in aggregate principal amount of Convertible Notes for $22.9 million in cash (plus accrued interest of approximately $0.2 million totaling $23.0 million). Following the Exchange and the December 2018 repurchases, the aggregate principal amount of our Convertible Notes outstanding was reduced to $6.3 million.

For the year ended December 31, 2018, we recognized a net gain of $1.7 million, recorded in Net loss on early extinguishment of debt, related to the Exchange and December 2018 repurchases of our Convertible Notes, which consisted of a gain of $3.1 million on the difference between the fair value and the carrying amount of the liability component of our Convertible Notes immediately preceding each exchange and repurchase, and a loss of $1.4 million related to the write-off of unamortized debt issuance costs due to the exchange and repurchase of our Convertible Notes.

We incurred $0.9 million in transactions costs related to the Exchange and December 2018 repurchases of our Convertible Notes, of which $0.6 million was expensed and recorded in Net loss on early extinguishment of debt and $0.3 million was allocated to the equity component and recorded in Additional paid-in capital.

On April 4, 2019, we completed a privately-negotiated repurchase of an additional $25,000 in aggregate principal amount of Convertible Notes then outstanding for $27,163.

The Convertible Notes are general unsecured obligations and are subordinated in the right of payment to all of our existing and future senior indebtedness and equal in right of payment with our other existing and future subordinated indebtedness. The initial conversion rate of the Convertible Notes as of March 19, 2014, was 44.3169 shares of our common stock per $1,000 principal amount of Convertible Notes, equivalent to an initial conversion price of $22.56 per share of common stock. The conversion rate is subject to adjustment upon the occurrence of certain events, as described in the indenture governing the Convertible Notes. During 2018, an adjustment to the conversion rate of the Convertible Notes was triggered when our Board increased the dividends declared per common share from $0.05 per share to $0.075 per share. At December 31, 2019, the adjusted conversion rate of the Convertible Notes is 45.4615 shares of our common stock per $1,000 principal amount of Convertible Notes, equivalent to an adjusted conversion price of $22.00 per share of common stock.

Equity issuance costs are included in Additional paid-in capital on our Consolidated Balance Sheet and are not amortized. Additionally, the recognition of the Convertible Notes as two separate components results in a basis difference associated with the liability component which represents a temporary tax difference. As a result, we recognized a deferred tax liability of $12.7 million related to this temporary difference which was recorded as a reduction to Additional paid-in capital and an increase to our deferred tax liability. The deferred tax liability is being amortized over the seven year term of the Convertible Notes. At December 31, 2019, the balance of our deferred tax liability related to our Convertible Notes was $0.1 million.

The carrying values of the liability and equity components of the Convertible Notes at December 31, 2018 and 2019 are reflected on our Consolidated Balance Sheet as follows (in thousands):



	December 31, 2018			December 31, 2019
Long-term liabilities:
Principal amount	$	6,346		$	6,319
Unamortized discount of liability component	(560		)	(319		)
Convertible Notes issuance costs, net of accumulated amortization of $106 and $130, respectively	(54		)	(29		)
Carrying value of the liability component	$	5,732		$	5,971

Carrying value of the equity component	$	789		$	789

The Carrying value of the liability component and the Carrying value of the equity component are recorded in Convertible subordinated notes due 2021 and Additional paid-in capital, respectively, on our Consolidated Balance Sheet at December 31, 2018 and 2019.

The fair value of the Convertible Notes, which are Level 2 measurements, was $7.8 million at December 31, 2019.

Interest expense on the Convertible Notes included contractual coupon interest expense of $4.0 million, $1.9 million and $0.2 million for the years ended December 31, 2017, 2018 and 2019, respectively. Accretion of the discount on the Convertible Notes was $4.3 million, $2.2 million and $0.2 million for the years ended December 31, 2017, 2018 and 2019, respectively. Amortization of debt issuance costs related to our Convertible Notes was $517,000, $245,000 and $24,000 for the years ended December 31, 2017, 2018 and 2019, respectively.

The remaining unamortized debt discount and the remaining unamortized debt issuance costs are being amortized using the effective interest method over the remaining term of approximately 14 month of the Convertible Notes. The effective interest rate on the unamortized debt discount for the years ended December 31, 2018 and 2019 was 11.3% and 11.4%, respectively. The effective interest rate on the debt issuance costs for both years ended December 31, 2018 and 2019 was 3.2%.

The aggregate maturities of our Convertible Notes for the five years subsequent to December 31, 2019 are as follows (in thousands):



	Principal Maturity		Discount Amortization			Present Value
Years ending December 31,
2020	$	—	$	(270	)	$	(270	)
2021	6,319		(49		)	6,270
2022	—		—			—
2023	—		—			—
2024	—		—			—
Thereafter	—		—			—
Total	$	6,319	$	(319	)	$	6,000

Cemetery Perpetual Care Trust Investments (Cost and fair market values associated with the trust investments held in perpetual care trust funds) (Details) - Perpetual Care Trust Investments - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Cemetery perpetual care investments	$ (64,047)	$ (44,071)
Market value as a percentage of cost	104.90%	90.80%
Cash and money market accounts \| Fair Value, Level 1
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 4,624	$ 11,144
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	4,624	11,144
Foreign debt \| Fair Value, Level 2
Debt and Equity Securities, FV-NI [Line Items]
Cost	4,200	2,872
Unrealized Gains	238	27
Unrealized Losses	(175)	(385)
Fair Market Value	4,263	2,514
Preferred stock \| Fair Value, Level 2
Debt and Equity Securities, FV-NI [Line Items]
Cost	11,658	9,956
Unrealized Gains	802	227
Unrealized Losses	(534)	(730)
Fair Market Value	11,926	9,453
Preferred stock \| Fair Value, Level 2
Debt and Equity Securities, FV-NI [Line Items]
Cost	10,782	8,141
Unrealized Gains	666	37
Unrealized Losses	(106)	(820)
Fair Market Value	11,342	7,358
Mortgage-backed securities \| Fair Value, Level 2
Debt and Equity Securities, FV-NI [Line Items]
Cost	324	417
Unrealized Gains	0	101
Unrealized Losses	(71)	(9)
Fair Market Value	253	509
Common stock \| Fair Value, Level 1
Debt and Equity Securities, FV-NI [Line Items]
Cost	21,594	15,562
Unrealized Gains	3,399	542
Unrealized Losses	(1,911)	(3,395)
Fair Market Value	23,082	12,709
Equity Securities [Member] \| Fair Value, Level 2
Debt and Equity Securities, FV-NI [Line Items]
Cost	233
Unrealized Gains	146
Unrealized Losses	(1)
Fair Market Value	378
Fixed income \| Fair Value, Level 2
Debt and Equity Securities, FV-NI [Line Items]
Cost	7,156
Unrealized Gains	618
Unrealized Losses	(107)
Fair Market Value	7,667
Trust securities
Debt and Equity Securities, FV-NI [Line Items]
Cost	60,571	48,092
Unrealized Gains	5,869	934
Unrealized Losses	(2,905)	(5,339)
Fair Market Value	63,535	43,687
Accrued investment income
Debt and Equity Securities, FV-NI [Line Items]
Cost	512	384
Fair Market Value	$ 512	$ 384

Preneed Cemetery Receivables

12 Months Ended

Dec. 31, 2019

Preneed Cemetery Receivables [Abstract]

PRENEED CEMETERY RECEIVABLES

Preneed sales of cemetery interment rights and related products and services are usually financed through interest-bearing installment sales contracts, generally with terms of up to five years with such interest income reflected as Other revenue. In substantially all cases, we receive an initial down payment at the time the contract is signed.

Our cemetery financed receivables are comprised of the following at December 31, 2018 and December 31, 2019 (in thousands):



	December 31, 2018		December 31, 2019
Cemetery interment rights	$	27,728	$	31,366
Cemetery merchandise and services	9,516		9,950
Cemetery financed receivables	$	37,244	$	41,316

Our cemetery financed receivables presented on our Consolidated Balance Sheet at December 31, 2018 and December 31, 2019 are as follows (in thousands):



	December 31, 2018		December 31, 2019
Accounts receivable, including unearned finance charges and allowance for contract cancellations of $2,405 and $2,458, respectively	$	11,676	$	13,905
Preneed receivables, including unearned finance charges and allowance for contract cancellations of $4,049 and $3,980, respectively	25,568		27,411
Cemetery financed receivables	$	37,244	$	41,316

The unearned finance charges associated with these receivables were $4.6 million and $4.5 million at December 31, 2018 and 2019, respectively.

We determine an allowance for customer cancellations and refunds on contracts in which revenue has been recognized on sales of cemetery interment rights. We have a collections policy where past due notifications are sent to the customer beginning at 15 days past due and periodically thereafter until the contract is cancelled or payment is received. We reserve 100% of the receivables on contracts in which the revenue has been recognized and payments are 90 days past due or more, which was approximately 4.4% of the total receivables on recognized sales at December 31, 2019. An allowance is recorded at the date that the contract is executed and periodically adjusted thereafter based upon actual collection experience at the business level.

For the years ending December 31, 2018 and 2019, the change in the allowance for contract cancellations is as follows (in thousands):



	As of December 31,
	2018			2019
Beginning balance	$	2,019		$	1,808
Write-offs and cancellations	(1,357		)	(733		)
Provision	1,146			841
Ending balance	$	1,808		$	1,916

The aging of past due financing receivables as of December 31, 2019 is as follows (in thousands):



	31-60 Past Due		61-90 Past Due		91-120 Past Due		>120 Past Due		Total Past Due		Current		Total Financing Receivables
Recognized revenue	$	745	$	392	$	148	$	1,209	$	2,494	$	28,382	$	30,876
Deferred revenue	219		121		147		302		789		9,651		10,440
Total contracts	$	964	$	513	$	295	$	1,511	$	3,283	$	38,033	$	41,316

The aging of past due financing receivables as of December 31, 2018 is as follows (in thousands):



	31-60 Past Due		61-90 Past Due		91-120 Past Due		>120 Past Due		Total Past Due		Current		Total Financing Receivables
Recognized revenue	$	642	$	395	$	143	$	1,139	$	2,319	$	25,289	$	27,608
Deferred revenue	274		165		53		289		781		8,855		9,636
Total contracts	$	916	$	560	$	196	$	1,428	$	3,100	$	34,144	$	37,244

Preneed Trust Investments (Purchases and sales of investments in preneed cemetery trusts) (Details) - Preneed Cemetery Trust Investments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Purchases	$ (40,984)	$ (27,006)	$ (21,966)
Sales	$ 29,635	$ 39,180	$ 14,002

Commitments and Contingencies Commitments and Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Long-term obligations under capital leases	$ 5,854	$ 6,143

Major Segments of Business (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Revenue, pre-tax income and total assets by segments

The following table presents revenue, operating income (loss), income (loss) before income taxes, depreciation and amortization, interest expense, income tax expense (benefit), total assets, long-lived assets, capital expenditures and number of operating locations by segment (in thousands, except number of operating locations):



	Funeral			Cemetery			Corporate			Consolidated
Revenue:
2019	$	216,868		$	57,239		$	—		$	274,107
2018	210,725			57,267			—			267,992
2017	200,886			57,253			—			258,139
Operating income (loss):
2019	$	63,602		$	15,983		$	(27,296	)	$	52,289
2018	60,881			15,066			(32,640		)	43,307
2017	61,369			15,430			(27,858		)	48,941
Income (loss) before income taxes:
2019	$	58,844		$	16,025		$	(52,453	)	$	22,416
2018	59,912			15,349			(56,995		)	18,266
2017	60,634			15,852			(43,704		)	32,782
Depreciation and amortization:
2019	$	11,128		$	5,227		$	1,416		$	17,771
2018	10,726			4,891			1,813			17,430
2017	9,785			4,589			1,605			15,979
Interest expense:
2019	$	1,142		$	—		$	24,380		$	25,522
2018	1,339			—			19,770			21,109
2017	1,170			2			11,776			12,948
Income tax expense (benefit):
2019	$	20,694		$	5,635		$	(18,446	)	$	7,883
2018	21,717			5,564			(20,660		)	6,621
2017	(8,159		)	(2,133		)	5,881			(4,411		)
Total assets:
2019	$	790,459		$	314,413		$	24,883		$	1,129,755
2018	686,470			226,475			4,557			917,502
2017	665,483			251,243			4,807			921,533
Long-lived assets:
2019	$	650,179		$	145,158		$	1,303		$	796,640
2018	572,916			89,654			1,538			664,108
2017	537,282			90,292			2,124			629,698
Capital expenditures:
2019	$	8,403		$	5,772		$	1,204		$	15,379
2018	8,296			3,989			1,241			13,526
2017	9,835			5,283			1,277			16,395
Number of operating locations at year end:
2019	186			31			—			217
2018	182			29			—			211
2017	178			32			—			210

Divested Operations Assets Held for Sale and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Operating Results and Gain on Discontinued Operations

The operating results of these divested businesses are reflected in our Consolidated Statements of Operations as shown in the table below (in thousands):



	Year Ended December 31,
	2017			2018			2019
Revenue	$	605		$	4,712		$	805

Operating income (loss)	277			1,130			(569		)
Other, net⁽¹⁾	191			(349		)	(3,883		)
Income tax benefit (provision)	(187		)	(246		)	1,288
Net income (loss) from divested operations	$	281		$	535		$	(3,164	)




(1)	Reflects the net gain (loss) on disposal.

Convertible Subordinated Notes (Narrative) (Details)							3 Months Ended				12 Months Ended
Convertible Subordinated Notes (Narrative) (Details)	Apr. 04, 2019 USD ($)	Dec. 24, 2018 USD ($)	May 07, 2018 USD ($) shares	Oct. 25, 2017 $ / shares	Oct. 24, 2017 $ / shares	Mar. 19, 2014 component $ / shares	Dec. 31, 2019 USD ($) $ / shares	Sep. 30, 2019 $ / shares	Jun. 30, 2019 $ / shares	Mar. 31, 2019 $ / shares	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares
Debt Instrument [Line Items]
Common Stock, Dividends, Per Share, Declared \| $ / shares				$ 0.075	$ 0.05		$ 0.075	$ 0.075	$ 0.075	$ 0.075	$ 0.300	$ 0.300	$ 0.225
Debt instrument, term											77 months
Deferred tax liability							$ 289,000				$ 289,000	$ 244,000
Amortization of debt issuance costs											392,000	532,000	$ 820,000
Deferred Tax Liabilities, Convertible Subordinated Notes							$ 75,000				75,000	131,000
Interest expense											25,522,000	21,109,000	12,948,000
Payments for Repurchase of Redeemable Convertible Preferred Stock											$ 27,000	$ 98,266,000	0
Common Stock, Par or Stated Value Per Share \| $ / shares							$ 0.01				$ 0.01	$ 0.01
Principal amount							$ 90,764,000				$ 90,764,000
Net loss on early extinguishment of debt											0	$ 502,000	0
Payment of Debt Conversion, Transaction Costs											$ 0	885,000	0
Convertible subordinated notes
Debt Instrument [Line Items]
Interest Rate, Unamortized Debt Discount and Debt Issuance Costs, Effective Percentage							3.20%				3.20%
Principal amount							$ 143,750,000.00				$ 143,750,000.00
Debt instrument interest rate (in percent)						2.75%
Debt conversion (in dollars per share) \| $ / shares						$ 22.56	$ 22.00				$ 22.00
Debt instrument, term											7 years
Number of recognition components, convertible debt \| component						2
Deferred tax liability							$ 12,700,000				$ 12,700,000
Conversion ratio						44.3169					45.4615
Long-term debt, fair value							$ 7,800,000				$ 7,800,000
Interest expense											200,000	1,900,000	4,000,000
Amortization of debt issuance costs											24,000	245,000	517,000
Accretion of discount											$ 200,000	$ 2,200,000	$ 4,300,000
Interest Rate, Unamortized Debt Discount, Effective Percentage							11.40%				11.40%	11.30%
Convertible Subordinated Debt	$ 25,000	$ 22,418,000.16	$ 115,000,000
Payments for Repurchase of Redeemable Convertible Preferred Stock, Principle	$ 27,163	22,900,000	74,800,000
Interest expense		200,000	400,000
Payments for Repurchase of Redeemable Convertible Preferred Stock		23,000,000	$ 75,200,000
Convertible Preferred Stock, Shares Issued upon Conversion \| shares			2,822,859
Principal amount							$ 6,319,000				$ 6,319,000	$ 6,346,000
Gain (Loss) On Repurchase Of Convertible Junior Subordinated Debentures		1,700,000
Gain (Loss) on Extinguishment of Debt, before Write off of Debt Issuance Cost		3,100,000
Net loss on early extinguishment of debt		$ 1,400,000
Payment of Debt Conversion, Transaction Costs											900,000
Component of Convertible Debt, Transaction Expense, Early Extinguishment											600,000
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt											$ 300,000

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

Accounting Pronouncements Not Yet Adopted

Financial Instruments - Credit Losses

In June 2016, the FASB issued ASU, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments and subsequent amendments collectively known as (Topic 326). This ASU applies to all entities holding financial assets measured at amortized cost, including loans, trade and financed receivables and other financial instruments. The guidance introduces a new credit reserving model known as Current Expected Credit Loss (“CECL”), which requires earlier recognition of credit losses, while also providing additional transparency about credit risk. The CECL model utilizes a lifetime expected credit loss measurement objective for the recognition of credit losses at the time the financial asset is originated or acquired. The CECL model requires all expected credit losses to be measured based on historical experience, current conditions and reasonable and supportable forecasts about collectability.

This ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with earlier application permitted for all entities. We plan to adopt the provisions of this ASU for our fiscal year beginning January 1, 2020 using the modified retrospective approach.

We believe that our current process of analyzing and calculating our allowance for doubtful accounts on trade receivables and the allowance for contract cancellations on financed receivables considers the credit risk of our customers and accounts for the recognition of credit losses at inception. Our customer base is generally a homogeneous pool of consumers based in the United States that, as a group, have a similar level of credit risk that are less subject to material economic and demographic changes. Additionally, our trade receivables are short term in nature (outstanding less than 90 days). Therefore, due to the similar level of credit risk of our customer base and the short-term nature of our receivables, we use our historical loss experience to forecast future collectability of our trade receivables and record an allowance at each reporting period. Our current contract cancellation policy on cemetery financed receivables requires that we record an allowance at the date that the sale is recognized as revenue. Additionally, we reserve 100% of the receivable on contracts in which the revenue has been recognized and payments are 90 days past due or more. Because we believe our current processes already consider credit risk and recognize credit losses at inception, we do not expect the adoption of this ASU to have a material impact on our consolidated financial statements.

In addition, the new guidance prospectively replaces the other-than-temporary impairment model for available-for-sale debt securities and requires the recognition of an allowance for reductions in a security's fair value attributable to declines in credit quality, instead of a direct write-down of the security, when a valuation decline is determined to be other-than-temporary. We are currently establishing a policy where we review our available-for-sale securities at each reporting period and perform an analysis on securities whose fair value is less than amortized cost to determine if impairment is appropriate. If the analysis of the security reflects impairment, we will perform a present value calculation of the future cash flows on the respective security using the effective interest rate implicit in the security at the date of acquisition. The impairment recognized will be the greater of the current fair market value or the present value of the future cash flows of the security. We do not expect the impact of the new guidance on available-for-sale securities to be material to our consolidated financial statements upon adoption.

Income Taxes

In December 2019, the FASB issued ASU, Income Taxes (Topic 740), to simplify the accounting for income taxes. The amendments in this update are effective for fiscal years beginning after December 15, 2020, with early adoption permitted. We plan to adopt the provisions of this ASU for our fiscal year beginning January 1, 2021 and are currently evaluating the impact of adoption on our consolidated financial statements.

Goodwill and Intangible Assets, Intangible Assets, Indefinite-Lived, Policy [Policy Text Block]

Intangible Assets

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill

Business Combinations Policy [Policy Text Block]

Business Combinations

Principles of Consolidation, Policy

Principles of Consolidation

The accompanying Consolidated Financial Statements include the Company and its subsidiaries. All significant intercompany balances and transactions have been elimin

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Revenue Recognition, Sales of Services, Policy

Cash and Cash Equivalents, Policy

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Inventory, Policy

Inventory

Property, Plant and Equipment, Policy

Property, Plant and Equipment



	Years
Buildings and improvements	15 to 40
Furniture and fixtures	5 to 10
Machinery and equipment	3 to 15
Automobiles	5 to 70

Property, plant and equipment is comprised of the following at December 31, 2018 and 2019 (in thousands):



	December 31, 2018			December 31, 2019
Land	$	81,012		$	84,608
Buildings and improvements	223,646			242,641
Furniture, equipment and automobiles	81,125			88,046
Property, plant and equipment, at cost	385,783			415,295
Less: accumulated depreciation	(124,945		)	(136,095		)
Property, plant and equipment, net	$	260,838		$	279,200

Income Taxes, Policy

Income Taxes

Stock Plans and Stock-Based Compensation, Policy

Stock Plans and Stock-Based Compensation

Computation of Earnings Per Common Share, Policy

Computation of Earnings Per Common Share

Fair Value Measurements, Policy

Fair Value Measurements

• Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets;

• Level 3 — inputs to the valuation methodology are unobservable and significant to the fair value measurement.

Discontinued Operations, Policy

Divested Operations

Subsequent Events, Policy

Subsequent Events

Convertible Subordinated Notes (5 Year Maturity For Convertible Subordinated Notes) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
2020	$ 1,289
2021	1,023
2022	523
2023	84,363
2024	550
Thereafter	3,016
Total	90,764
Discount Amortization, 2018	(270)
Discount Amortization, 2019	(49)
Discount Amortization, 2022	0
Subordinated Notes, Discount Accretion, Year Four	0
Subordinated Notes, Discount Accretion, Year Five	0
Subordinated Notes, Discount Accretion, After Year Five	0
Discount Amortization, Total	(319)
Convertible subordinated notes
Debt Instrument [Line Items]
2020	0
2021	6,319
2022	0
2023	0
2024	0
Thereafter	0
Total	6,319	$ 6,346
Convertible Subordinated Notes Aggregate Maturity, After Year Five	0
Discount Amortization, Total	(319)	$ (560)
Present Value, 2018	(270)
Present Value, 2019	6,270
Present Value, 2022	0
Convertible Subordinated Notes Aggregate Maturity, Year Four	0
Convertible Subordinated Notes Aggregate Maturity, Year Five	0
Carrying value of the liability component	$ 6,000

Preneed Cemetery Receivables (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Preneed Cemetery Receivables [Abstract]
Term of sales contract for cemetery interment rights, maximum (in years)	5 years
Unearned Finance Charges Included In Receivables	$ 4.5	$ 4.6
Past due notifications starting date (in days)	15 days
Accounts receivable allowance percentage on contracts past due 120 days or more (in percent)	100.00%
Number of days past due contractual payments are when they are provided for with a one hundred percent allowance (in Days)	90 days
Percent of total receivables which are 120 days or more past due (in percent)	4.40%	4.60%

Long-Term Debt Long-Term Debt (Aggregate Maturities) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Debt Disclosure [Abstract]
2020	$ 1,289
2021	1,023
2022	523
2023	84,363
2024	550
Thereafter	3,016
Total	$ 90,764

Long-Term Debt Long-Term Debt (Senior long-term debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Accumulated Amortization, Debt Issuance Costs	$ 4,442	$ 4,138
Principal amount	90,764
Debt Issuance Costs, Net	1,618	955
Less: current portion	(1,306)	(2,015)
Total long-term debt	87,840	33,070
Notes payable, other \| Acquisition Debt
Debt Instrument [Line Items]
Principal amount	6,964	8,940
Revolving Credit Facility \| Line of Credit \| Revolving Credit Facility, Secured, Floating Rate
Debt Instrument [Line Items]
Principal amount	$ 83,800	$ 27,100

Preneed Trust Investments (Tables)

12 Months Ended

Dec. 31, 2019

Debt Securities, Available-for-sale [Line Items]

Components of Preneed Cemetery Trust Investments

The components of Preneed cemetery trust investments on our Consolidated Balance Sheet at December 31, 2018 and 2019 are as follows (in thousands):



	December 31, 2018			December 31, 2019
Preneed cemetery trust investments, at market value	$	64,549		$	74,572
Less: allowance for contract cancellation	(2,117		)	(2,190		)
Preneed cemetery trust investments, net	$	62,432		$	72,382

Cost and fair market values associated with preneed cemetery trust investments

The cost and fair market values associated with preneed cemetery trust investments at December 31, 2019 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	5,729	$	—	$	—		$	5,729
Fixed income securities:
Foreign debt	2	5,609		312		(243		)	5,678
Corporate debt	2	16,916		1,044		(649		)	17,311
Preferred stock	2	14,206		904		(164		)	14,946
Mortgage-backed securities	2	517		—		(114		)	403
Common stock	1	28,569		2,766		(3,017		)	28,318
Mutual funds:
Fixed Income	2	1,463		72		(85		)	1,450
Trust securities		$	73,009	$	5,098	$	(4,272	)	$	73,835
Accrued investment income		$	737						$	737
Preneed cemetery trust investments									$	74,572
Market value as a percentage of cost									101.1		%

The cost and market values associated with preneed cemetery trust investments at December 31, 2018 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	16,194	$	—	$	—		$	16,194
Fixed income securities:
Foreign debt	2	3,802		43		(511		)	3,334
Corporate debt	2	13,987		362		(1,026		)	13,323
Preferred stock	2	11,068		54		(1,146		)	9,976
Mortgage-backed securities	2	666		161		(14		)	813
Common stock	1	24,867		903		(5,436		)	20,334
Trust Securities		$	70,584	$	1,523	$	(8,133	)	$	63,974
Accrued investment income		$	575						$	575
Preneed cemetery trust investments									$	64,549
Market value as a percentage of cost									90.6		%

Estimated maturities of fixed preneed cemetery trust income securities

The estimated maturities of the fixed income securities included above are as follows (in thousands):



Due in one year or less	$	—
Due in one to five years	4,518
Due in five to ten years	10,395
Thereafter	23,425
Total fixed income securities	$	38,338

Preneed cemetery trust investment security transactions



	Years ended December 31,
	2017			2018			2019
Investment income	$	2,250		$	1,596		$	1,743
Realized gains	2,218			4,546			6,353
Realized losses	(2,384		)	(5,817		)	(4,677		)
Expenses and taxes	(1,308		)	(907		)	(1,313		)
Net change in deferred preneed cemetery receipts held in trust	(776		)	582			(2,106		)
	$	—		$	—		$	—

Purchases and sales of investments in preneed cemetary trusts

Purchases and sales of investments in the preneed cemetery trusts for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Purchases	$	(21,966	)	$	(27,006	)	$	(40,984	)
Sales	14,002			39,180			29,635

Components of preneed funeral trust investments

The components of Preneed funeral trust investments on our Consolidated Balance Sheet at December 31, 2018 and 2019 are as follows (in thousands):



	December 31, 2018			December 31, 2019
Preneed funeral trust investments, at market value	$	84,803		$	99,246
Less: allowance for contract cancellation	(2,729		)	(2,911		)
Preneed funeral trust investments	$	82,074		$	96,335

Cost and fair market values associated with preneed funeral trust investments

The cost and fair market values associated with preneed funeral trust investments at December 31, 2019 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	24,160	$	—	$	—		$	24,160
Fixed income securities:
U. S. treasury debt	1	822		—		—			822
Foreign debt	2	5,587		309		(232		)	5,664
Corporate debt	2	16,109		992		(646		)	16,455
Preferred stock	2	14,094		874		(198		)	14,770
Mortgage-backed securities	2	585		—		(117		)	468
Common stock	1	27,652		2,773		(2,869		)	27,556
Mutual funds:
Equity	1	772		617		(4		)	1,385
Fixed income	2	4,364		107		(107		)	4,364
Other investments	2	2,902		—		—			2,902
Trust securities		$	97,047	$	5,672	$	(4,173	)	$	98,546
Accrued investment income		$	700						$	700
Preneed funeral trust investments									$	99,246
Market value as a percentage of cost									101.5		%

The cost and market values associated with preneed funeral trust investments at December 31, 2018 are detailed below (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	31,375	$	—	$	—		$	31,375
Fixed income securities:
U.S. treasury debt	1	1,319		3		(19		)	1,303
Foreign debt	2	3,748		44		(503		)	3,289
Corporate debt	2	14,195		294		(1,025		)	13,464
Preferred stock	2	11,500		54		(1,194		)	10,360
Mortgage-backed securities	2	772		168		(18		)	922
Common stock	1	24,803		887		(5,389		)	20,301
Mutual funds:
Fixed income	2	275		—		(29		)	246
Other investments	2	3,006		—		—			3,006
Trust securities		$	90,993	$	1,450	$	(8,177	)	$	84,266
Accrued investment income		$	537						$	537
Preneed funeral trust investments									$	84,803
Market value as a percentage of cost									92.6		%

Estimated maturities of fixed preneed funeral trust income securities

The estimated maturities of the fixed income securities included above are as follows (in thousands):



Due in one year or less	$	—
Due in one to five years	5,456
Due in five to ten years	9,656
Thereafter	23,067
Total fixed income securities	$	38,179

Preneed funereal trust investment security transactions



	Years ended December 31,
	2017			2018			2019
Investment income	$	2,420		$	1,623		$	1,753
Realized gains	2,386			6,662			6,214
Realized losses	(2,396		)	(5,882		)	(4,612		)
Expenses and taxes	(1,290		)	(885		)	(1,129		)
Net change in deferred preneed funeral receipts held in trust	(1,120		)	(1,518		)	(2,226		)
	$	—		$	—		$	—

Purchases and sales of investments in preneed funeral trusts

Purchases and sales of investments in the preneed funeral trusts for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Purchases	$	(21,954	)	$	(28,264	)	$	(38,984	)
Sales	14,463			39,955			29,983

Preneed Cemetery Trust Investments

Debt Securities, Available-for-sale [Line Items]

Schedule of unrealized loss position, fair value



	December 31, 2019
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	268	$	(42	)	$	758	$	(201	)	$	1,026	$	(243	)
Corporate debt	1,368		(168		)	4,520		(481		)	5,888		(649		)
Preferred stock	4,135		(164		)	—		—			4,135		(164		)
Mortgage-backed securities	—		—			402		(114		)	402		(114		)
Common stock	5,079		(652		)	4,178		(2,365		)	9,257		(3,017		)
Mutual funds:
Fixed Income	532		(85		)	—		—			532		(85		)
Total temporary impaired securities	$	11,382	$	(1,111	)	$	9,858	$	(3,161	)	$	21,240	$	(4,272	)



	December 31, 2018
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	2,140	$	(245	)	$	895	$	(266	)	$	3,035	$	(511	)
Corporate debt	9,918		(813		)	443		(213		)	10,361		(1,026		)
Preferred stock	5,253		(399		)	3,767		(747		)	9,020		(1,146		)
Mortgage-backed securities	—		—			51		(14		)	51		(14		)
Common stock	14,191		(4,012		)	1,190		(1,424		)	15,381		(5,436		)
Total temporary impaired securities	$	31,502	$	(5,469	)	$	6,346	$	(2,664	)	$	37,848	$	(8,133	)

Preneed Funeral Trust Investments

Debt Securities, Available-for-sale [Line Items]

Schedule of unrealized loss position, fair value



	December 31, 2019
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	274	$	(43	)	$	723	$	(189	)	$	997	$	(232	)
Corporate debt	1,403		(172		)	4,433		(474		)	5,836		(646		)
Preferred stock	4,412		(198		)	—		—			4,412		(198		)
Mortgage-backed securities	—		—			439		(117		)	439		(117		)
Common Stock	4,732		(625		)	4,068		(2,244		)	8,800		(2,869		)
Mutual funds:
Equity and Other	—		—			48		(4		)	48		(4		)
Fixed income	668		(56		)	1,021		(51		)	1,689		(107		)
Total temporary impaired securities	$	11,489	$	(1,094	)	$	10,732	$	(3,079	)	$	22,221	$	(4,173	)



	December 31, 2018
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
U.S. treasury debt	$	—	$	—		$	1,181	$	(19	)	$	1,181	$	(19	)
Foreign debt	2,180		(251		)	850		(252		)	3,030		(503		)
Corporate debt	9,990		(814		)	434		(211		)	10,424		(1,025		)
Preferred stock	5,967		(460		)	3,673		(734		)	9,640		(1,194		)
Mortgage-backed securities	11		—			120		(18		)	131		(18		)
Common Stock	14,327		(4,035		)	1,155		(1,354		)	15,482		(5,389		)
Mutual funds:
Fixed income	—		—			246		(29		)	246		(29		)
Total temporary impaired securities	$	32,475	$	(5,560	)	$	7,659	$	(2,617	)	$	40,134	$	(8,177	)

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2019	Feb. 21, 2020	Jun. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	CARRIAGE SERVICES INC
Entity Central Index Key	0001016281
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Small Business	false
Entity Interactive Data Current	Yes
Entity Public Float			$ 308.0
Entity Common Stock, Shares Outstanding		17,873,388

Supplemental Disclosure of Cash Flow Information

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

The following information is supplemental disclosure for the Consolidated Statements of Cash Flows (in thousands):



	Years Ended December 31,
	2017		2018		2019
Cash paid for interest and financing costs	$	11,092	$	18,858	$	23,870
Cash paid for taxes	$	5,902	$	3,543	$	378
Fair value of stock, stock options and performance awards issued to directors, officers, and certain other employees	$	6,854	$	6,563	$	2,855

Long-Term Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Long-term Debt

LONG-TERM DEBT

On May 31, 2018, we completed the issuance of $325.0 million in aggregate principal amount of our 6.625% senior notes due (the “Initial Senior Notes”). See Note 16 to the Consolidated Financial Statements included herein for further discussion of the sale of the Initial Senior Notes.

We used $291.4 million of the net proceeds from the sale of the Initial Senior Notes to repay all amounts outstanding under our former credit agreement. In connection with the repayment in full of all amounts due thereunder, the former credit agreement was retired and $2.0 million of letters of credit previously issued under the former credit agreement were deemed issued under (and remain outstanding under) the senior secured revolving credit facility (as defined below).

On May 31, 2018, we entered into a $150.0 million senior secured revolving credit facility with the financial institutions party thereto, as lenders, and Bank of America, N.A., as administrative agent, which we subsequently amend in November 2018 and July 2019.

For the year ended December 31, 2018, we recognized a loss of $1.6 million, recorded in Net loss on early extinguishment of debt, related to the termination of our former credit agreement, which consisted of a write-off of $0.7 million of transaction costs and a write-off of $0.9 million of unamortized debt issuance costs. Additionally, we incurred $1.1 million in transaction costs related to our senior secured revolving credit facility, which were capitalized and will be amortized over the remaining term of the related debt using the straight-line method.

On December 19, 2019, we entered into a third amendment and commitment increase (“Credit Facility”) to our $150.0 million senior secured revolving credit facility with the financial institutions party thereto, as lenders, and Bank of America, N.A., as administrative agent (in such capacity, the “Administrative Agent”) to increase our commitment to $190.0 million. The Credit Facility is comprised of :

(i) a $190.0 million revolving credit facility, which includes a $15.0 million subfacility for letters of credit and a $10.0 million swingline, and

(ii) an accordion or incremental option allowing for future increases in the facility size by an additional amount of up to $75.0 million in the form of increased revolving commitments or incremental term loans.

The final maturity of the Credit Facility will occur on May 31, 2023.

For the year ended December 31, 2019, we incurred $0.9 million in transactions costs related to our Credit Facility, which were capitalized and will be amortized over the remaining term of the related debt using the straight-line method.

The Company’s obligations under the Credit Facility are unconditionally guaranteed on a joint and several basis by the same subsidiaries which guarantee the Senior Notes (as defined in Note 16) and certain of the Company’s Credit Facility Guarantors.

The Credit Facility is secured by a first-priority perfected security interest in and lien on substantially all of the Company’s personal property assets and those of the Credit Facility Guarantors. In the event the Company’s actual Total Leverage Ratio is not at least 0.25 less than the required Total Leverage Ratio covenant level, at the discretion of the Administrative Agent, the Administrative Agent may unilaterally compel the Company and the Credit Facility Guarantors to grant and perfect first-priority mortgage liens on fee-owned real property assets which account for no less than 50% of funeral operations EBITDA.

The Credit Facility contains customary affirmative covenants, including, but not limited to, covenants with respect to the use of proceeds, payment of taxes and other obligations, continuation of the Company’s business and the maintenance of existing rights and privileges, the maintenance of property and insurance, amongst others.

In addition, the Credit Facility also contains customary negative covenants, including, but not limited to, covenants that restrict (subject to certain exceptions) the ability of the Company and the Credit Facility Guarantors to incur indebtedness, grant liens, make investments, engage in acquisitions, mergers or consolidations, and pay dividends and other restricted payments, and the following financial maintenance covenants: (A) a Total Leverage Ratio not to exceed (i) 6.00 to 1.00 for the quarter ended December 31, 2019, (ii) 5.75 to 1.00 for the quarters ended March 31, 2020,June 30, 2020 and September 30, 2020 and (iii) 5.50 to 1.00 for the quarter ended December 31, 2020 and each quarter ended thereafter, (B) a Senior Secured Leverage Ratio (as defined in the Credit Facility) not to exceed 2.00 to 1.00 as of the end of any period of four consecutive fiscal quarters, and (C) a Fixed Charge Coverage Ratio (as defined in the Credit Facility) of not less than 1.20 to 1.00 as of the end of any period of four consecutive fiscal quarters. Effective with the Credit Facility, an applicable rate premium shall be set forth in reference to the Total Leverage Ratio and increases by 0.500% whenever the most recent compliance certificate delivered indicates that the Total Leverage Ratio is greater than 5.00 to 1.00. The financial maintenance covenants will be calculated for the Company and its subsidiaries on a consolidated basis.

Our long-term debt consisted of the following at December 31, 2018 and 2019 (in thousands):



	December 31, 2018			December 31, 2019
Credit Facility	$	27,100		$	83,800
Acquisition debt	8,940			6,964
Debt issuance costs, net of accumulated amortization of $108 and $337	(955		)	(1,618		)
Less: current portion	(2,015		)	(1,306		)
Total long-term debt	$	33,070		$	87,840

As of December 31, 2019, we had outstanding borrowings under the Credit Facility of $83.8 million. We had one letter of credit issued on November 30, 2018 and outstanding under the Credit Facility for approximately $2.0 million, which bears interest at 2.125% and will expire on November 25, 2020. The letter of credit automatically renews annually and secures our obligations under our various self-insured policies. Outstanding borrowings under our Credit Facility bear interest at either a prime rate or a LIBOR rate, plus an applicable margin based upon our leverage ratio. As of December 31, 2019, the prime rate margin was equivalent to 1.5% and the LIBOR rate margin was 2.5%. The weighted average interest rate on our Credit Facility for the years ended December 31, 2018 and 2019 was 4.0% and 2.9%, respectively.

We have no material assets or operations independent of our subsidiaries. All assets and operations are held and conducted by subsidiaries, each of which have fully and unconditionally guaranteed our obligations under the Credit Facility. Additionally, we do not currently have any significant restrictions on our ability to receive dividends or loans from any Credit Facility Guarantors.

We are in compliance with the covenants contained in our Credit Facility as of December 31, 2019, with a leverage ratio of 5.66 to 1.00, a fixed charge coverage ratio of 2.70 to 1.00 and a senior secured leverage ratio of 0.94 to 1.00.

Interest expense related to our Credit Facility was $6.9 million, $4.3 million and $1.6 million for the years ended December 31, 2017, 2018 and 2019, respectively. Amortization of debt issuance costs related to our Credit Facility was $0.3 million, $0.2 million and $0.2 million for the years ended December 31, 2017, 2018 and 2019, respectively.

Acquisition debt consists of deferred purchase price and promissory notes payable to sellers. A majority of the deferred purchase price and notes bear no interest and are discounted at imputed interest rates ranging from 7.3% to 10.0%. Original maturities range from five to twenty years. Imputed interest expense related to our acquisition debt was $0.9 million, $0.8 million and $0.6 million for the years ended December 31, 2017, 2018 and 2019, respectively.

The aggregate maturities of our long-term debt for the next five years subsequent to December 31, 2019 and thereafter are as follows (in thousands):



Years ending December 31,
2020	$	1,289
2021	1,023
2022	523
2023	84,363
2024	550
Thereafter	3,016
Total	$	90,764

Subsequent Events SUBSEQUENT EVENTS (Details) $ in Millions	Jan. 03, 2020 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Consideration transferred	$ 33.0

Major Segments of Business (Revenue, pre-tax income and total assets by segments) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($) locations	Dec. 31, 2018 USD ($) locations	Dec. 31, 2017 USD ($) locations	Dec. 31, 2016 USD ($)
Segment Reporting Information [Line Items]
Revenues	$ 71,149	$ 66,125	$ 67,752	$ 69,081	$ 66,517	$ 64,241	$ 63,847	$ 73,387	$ 274,107	$ 267,992	$ 258,139
Gross Profit (loss)									52,289	43,307	48,941
Income (loss) from continuing operations before income taxes									22,416	18,266	32,782
Total assets	1,129,755				917,502				1,129,755	917,502		$ 921,533
Long-lived assets	796,640				664,108				796,640	664,108		629,698
Depreciation and amortization									17,771	17,430	15,979
Payments to Acquire Productive Assets									$ 15,379	$ 13,526	$ 16,395
Number of operating locations at year end \| locations									217	211	210
Interest expense									$ 25,522	$ 21,109	$ 12,948
Income tax expense (benefit) from continuing operations									7,883	6,621	(4,411)
Funeral
Segment Reporting Information [Line Items]
Revenues									216,868	210,725	200,886
Gross Profit (loss)									63,602	60,881	61,369
Income (loss) from continuing operations before income taxes									58,844	59,912	60,634
Total assets	790,459				686,470				790,459	686,470		665,483
Long-lived assets	650,179				572,916				650,179	572,916		537,282
Depreciation and amortization									11,128	10,726	9,785
Payments to Acquire Productive Assets									$ 8,403	$ 8,296	$ 9,835
Number of operating locations at year end \| locations									186	182	178
Interest expense									$ 1,142	$ 1,339	$ 1,170
Income tax expense (benefit) from continuing operations									20,694	21,717	(8,159)
Cemetery
Segment Reporting Information [Line Items]
Revenues									57,239	57,267	57,253
Gross Profit (loss)									15,983	15,066	15,430
Income (loss) from continuing operations before income taxes									16,025	15,349	15,852
Total assets	314,413				226,475				314,413	226,475		251,243
Long-lived assets	145,158				89,654				145,158	89,654		90,292
Depreciation and amortization									5,227	4,891	4,589
Payments to Acquire Productive Assets									$ 5,772	$ 3,989	$ 5,283
Number of operating locations at year end \| locations									31	29	32
Interest expense									$ 0	$ 0	$ 2
Income tax expense (benefit) from continuing operations									5,635	5,564	(2,133)
Corporate
Segment Reporting Information [Line Items]
Revenues									0	0	0
Gross Profit (loss)									(27,296)	(32,640)	(27,858)
Income (loss) from continuing operations before income taxes									(52,453)	(56,995)	(43,704)
Total assets	24,883				4,557				24,883	4,557		4,807
Long-lived assets	$ 1,303				$ 1,538				1,303	1,538		$ 2,124
Depreciation and amortization									1,416	1,813	1,605
Payments to Acquire Productive Assets									$ 1,204	$ 1,241	$ 1,277
Number of operating locations at year end \| locations									0	0	0
Interest expense									$ 24,380	$ 19,770	$ 11,776
Income tax expense (benefit) from continuing operations									$ (18,446)	$ (20,660)	$ 5,881

Stockholders' Equity Stockholders' Equity (Outstanding stock options) (Details)	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Range Of Exercise Prices, $4.78-5.94
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in usd per share)	$ 4.78
Exercise price range, upper range limit (in usd per share)	$ 5.94
Number of outstanding options at end of year (in shares) \| shares	43,871
Weighted-average remaining contractual life, options outstanding	1 year 8 months 9 days
Weighted average exercise price, options outstanding (in usd per share)	$ 5.82
Number of exercisable options at end of year (in shares) \| shares	43,871,000
Weighted average exercise price, options exercisable (in usd per share)	$ 5.82
Range Of Exercise Prices, $16.73-17.21
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in usd per share)	16.73
Exercise price range, upper range limit (in usd per share)	$ 20.49
Number of outstanding options at end of year (in shares) \| shares	495,320
Weighted-average remaining contractual life, options outstanding	3 years 3 months
Weighted average exercise price, options outstanding (in usd per share)	$ 21.89
Number of exercisable options at end of year (in shares) \| shares	84,240,000
Weighted average exercise price, options exercisable (in usd per share)	$ 20.06
Range of Exercise Prices, $18.86-20.49
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in usd per share)	22.58
Exercise price range, upper range limit (in usd per share)	$ 26.93
Number of outstanding options at end of year (in shares) \| shares	538,944
Weighted-average remaining contractual life, options outstanding	7 years 11 months 12 days
Weighted average exercise price, options outstanding (in usd per share)	$ 25.86
Number of exercisable options at end of year (in shares) \| shares	514,612,000
Weighted average exercise price, options exercisable (in usd per share)	$ 23.72
Range of Exercise Prices, $4.78-20.49
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in usd per share)	4.78
Exercise price range, upper range limit (in usd per share)	$ 26.93
Number of outstanding options at end of year (in shares) \| shares	1,078,135
Weighted-average remaining contractual life, options outstanding	5 years 6 months 15 days
Weighted average exercise price, options outstanding (in usd per share)	$ 23.22
Number of exercisable options at end of year (in shares) \| shares	642,723,000
Weighted average exercise price, options exercisable (in usd per share)	$ 22.02

Preneed Trust Investments (Components of preneed funeral trust investments) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Preneed cemetery trust investments, at market value	$ 99,246	$ 84,803
Less: allowance for contract cancellation	(2,911)	(2,729)
Available-for-sale securities, current	$ 96,335	$ 82,074

Long-Term Debt Long-Term Debt (Narrative) (Details)			6 Months Ended	12 Months Ended
Long-Term Debt Long-Term Debt (Narrative) (Details)	Dec. 24, 2018 USD ($)	May 31, 2018 USD ($)	Jun. 30, 2018	Dec. 31, 2019 USD ($) letter_of_credit	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2020	Mar. 31, 2020	Dec. 19, 2019 USD ($)	Sep. 30, 2019 USD ($)	Nov. 08, 2018 USD ($)	Mar. 19, 2014
Debt Instrument [Line Items]
Debt Instrument, Debt Compliance, EBITDA				$ 0.50
Principal amount				$ 90,764,000
Letters of Credit \| letter_of_credit				1
Repayments of Long-term Lines of Credit				$ 118,261,000	$ 189,400,000	$ 82,600,000
Debt instrument, term				77 months
Net loss on early extinguishment of debt				$ 0	502,000	0
Amortization of debt issuance costs				392,000	532,000	820,000
Convertible subordinated notes
Debt Instrument [Line Items]
Principal amount				$ 6,319,000	6,346,000
Debt instrument interest rate (in percent)												2.75%
Debt instrument, term				7 years
Interest expense				$ 200,000	1,900,000	4,000,000
Net loss on early extinguishment of debt	$ 1,400,000
Amortization of debt issuance costs				24,000	245,000	517,000
Gain (Loss) On Repurchase Of Convertible Junior Subordinated Debentures	$ 1,700,000
Component of Convertible Debt, Transaction Expense, Early Extinguishment				600,000
Principal amount				143,750,000.00
Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount				395,447,000	319,108,000
Interest expense				21,700,000	12,600,000
Amortization of debt issuance costs				100,000
Principal amount		$ 325,000,000		$ 400,000,000
Deferred Purchase Price Notes
Debt Instrument [Line Items]
Debt instrument interest rate (in percent)				0.00%
Interest expense				$ 600,000	800,000	900,000
Deferred Purchase Price Notes \| Minimum
Debt Instrument [Line Items]
Deferred purchase price notes payable to sellers of acquired entities, discounted imputed interest rate (in Percent)				7.30%
Debt instrument, term				5 years
Deferred Purchase Price Notes \| Maximum
Debt Instrument [Line Items]
Deferred purchase price notes payable to sellers of acquired entities, discounted imputed interest rate (in Percent)				10.00%
Debt instrument, term				20 years
Credit Agreement [Member]
Debt Instrument [Line Items]
Interest expense				$ 1,600,000	4,300,000	6,900,000
Amortization of debt issuance costs						300,000
Term Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				190,000,000						$ 150,000,000
Gain (Loss) on Extinguishment of Debt				1,600,000
Extinguishment of Debt, Transaction Costs				700,000
Line of Credit Facility, Maximum Borrowing Capacity Additional Borrowing Capacity				75,000,000
Net loss on early extinguishment of debt				900,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				15.0
Repayments of Long-term Lines of Credit		2,000,000
Swingline [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 10.0
Loans Payable [Member]
Debt Instrument [Line Items]
Amortization of debt issuance costs					200,000	$ 200,000
Revolving Credit Facility, Secured, Floating Rate
Debt Instrument [Line Items]
Present value of future deferred payments		$ 2,000,000
Debt compliance, required maximum leverage ratio				5.66
Ratio of indebtedness to net capital (in ratio)				0.94
Ratio of earnings to fixed cost obligations (in ratio)				2.70
Revolving Credit Facility, Secured, Floating Rate \| Line of Credit \| Prime Rate Option
Debt Instrument [Line Items]
Debt instrument interest rate (in percent)				1.50%
Revolving Credit Facility, Secured, Floating Rate \| Line of Credit \| LIBOR Margin Option
Debt Instrument [Line Items]
Debt instrument interest rate (in percent)				2.50%
Revolving Credit Facility, Secured, Floating Rate \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Principal amount				$ 83,800,000	$ 27,100,000
Revolving Credit Facility, Secured, Floating Rate \| Revolving Credit Facility \| Credit Agreement [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period			4.00%	2.90%
Revolving Credit Facility, Secured, Floating Rate \| Loans Payable [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Gross									$ 900,000		$ 1,100,000
Revolving Credit Facility, Secured, Floating Rate \| Loans Payable [Member] \| Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument interest rate (in percent)				2.125%
Ratio Actual [Member]
Debt Instrument [Line Items]
Ratio of indebtedness to net capital (in ratio)				5.00
Rate Premium Increase				0.50%
Ratio Actual [Member] \| Minimum
Debt Instrument [Line Items]
Ratio of indebtedness to net capital (in ratio)				0.25
Ratio Actual [Member] \| Maximum
Debt Instrument [Line Items]
Ratio of indebtedness to net capital (in ratio)				6.00
Ratio Actual [Member] \| Revolving Credit Facility, Secured, Floating Rate \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Ratio of indebtedness to net capital (in ratio)				2.00
Ratio of earnings to fixed cost obligations (in ratio)				1.20
Ratio Actual [Member] \| Forecast [Member]
Debt Instrument [Line Items]
Ratio of indebtedness to net capital (in ratio)							5.50	5.75

Stockholders' Equity Stockholders' Equity (Narrative) (Details)									3 Months Ended									12 Months Ended
	Dec. 02, 2019 shares	Nov. 04, 2019 shares	Aug. 01, 2019 shares	Feb. 20, 2019 shares	Nov. 29, 2018 USD ($)	May 15, 2018	Oct. 25, 2017 $ / shares	Oct. 24, 2017 $ / shares	Dec. 31, 2019 USD ($) director plan $ / shares shares	Sep. 30, 2019 USD ($) $ / shares	Jun. 30, 2019 USD ($) $ / shares	Mar. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares shares	Sep. 30, 2018 USD ($) $ / shares	Jun. 30, 2018 USD ($) $ / shares	Mar. 31, 2018 USD ($) $ / shares	Mar. 31, 2016	Dec. 31, 2019 USD ($) director plan $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2017 USD ($) $ / shares shares	May 16, 2018 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares) \| shares									80,000,000				80,000,000					80,000,000	80,000,000
Common stock, par value (in dollars per share) \| $ / shares									$ 0.01				$ 0.01					$ 0.01	$ 0.01
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value																					$ 25,000
Common stock, shares issued (in shares) \| shares									25,880,362				25,703,490					25,880,362	25,703,490
Treasury Stock, Shares \| shares									8,025,339				7,625,339					8,025,339	7,625,339
Stock options awarded (in shares) \| shares																		100,000	213,000	462,000
Number Of Directors \| director									2									2
Grants, weighted average exercise price (in usd per share) \| $ / shares																		$ 24.35	$ 25.43	$ 26.56
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period \| shares																		298,000	165,000	19,000
Unrecognized share based compensation cost									$ 1,600,000									$ 1,600,000
Unrecognized share based compensation, expected term (in years)																		1 year 4 months 24 days
Shares purchased through Employee Stock Purchase Plan (in shares) \| shares																		73,731	49,938	43,808
Weighted average purchase price of ESPP shares purchased during the period (in dollars per share) \| $ / shares																		$ 13.18	$ 18.56	$ 22.43
Dividends declared per share (in dollars per share) \| $ / shares							$ 0.075	$ 0.05	$ 0.075	$ 0.075	$ 0.075	$ 0.075						$ 0.300	$ 0.300	$ 0.225
Dividends declared, common stock, amount									$ 1,337,000	$ 1,336,000	$ 1,365,000	$ 1,360,000	$ 1,437,000	$ 1,436,000	$ 1,433,000	$ 1,207,000
Common Stock, Dividends, Per Share, Cash Paid \| $ / shares													$ 0.075	$ 0.075	$ 0.075	$ 0.075
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance Period																		5 years
Number of Stock Benefit Plans \| plan									2									2
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value									$ 2,900,000									$ 2,900,000
Contractual term of all options granted																		7 years
Stock options awarded (in shares) \| shares																		100,000	212,940	461,700
Grants, weighted average exercise price (in usd per share) \| $ / shares																		$ 24.35	$ 25.43	$ 26.56
Incremental award vesting percentage																	20.00%
Award vesting period (in years)																		5 years
Stock option, contracted term																		10 years
Value of stock options granted																		$ 600,000	$ 1,400,000	$ 3,300,000
Total intrinsic value of options exercised																		1,200,000	3,900,000	1,000,000
Total fair value of stock options vested																		900,000	1,500,000	1,500,000
Share based compensation expense																		700,000	1,000,000	1,500,000
Unrecognized share based compensation cost									$ 1,900,000									$ 1,900,000
Unrecognized share based compensation, expected term (in years)																		3 years 7 days
Employee Stock Option \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of all options granted																		10 years
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense																		$ 300,000	200,000	200,000
Purchase price percentage of grant date price per share (as a percent)																		85.00%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cancellations ( in usd per share) \| $ / shares																		$ 24.84
Share based compensation expense																		$ 800,000	$ 800,000	$ 700,000
Cancellations (in shares) \| shares																		(12,000)
Awards (in shares) \| shares																		26,000
Awards ( in usd per share) \| $ / shares																		$ 19.94
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)																		3 years
Awards (in shares) \| shares																		25,550	86,260	27,250
Awards granted, aggregate grant date market value																		$ 500,000	$ 2,200,000	$ 800,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense					$ 3,300,000
Awards (in shares) \| shares	35,000	9,123	14,000	248,500														306,623	113,320	105,540
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Granted In Period, Fair Value																		$ 1,600,000	$ 2,900,000	$ 2,800,000
Officers And Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Directors compensation expense																		200,000	4,400,000	700,000
Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Director compensation, annual cash retainer																		75,000
Director Compensation, Quarterly Installment Of Annual Cash Retainer																		18,750
Directors compensation expense																		$ 500,000	$ 500,000	$ 400,000
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options awarded (in shares) \| shares																		7,458
Value of stock options granted																		$ 200,000
Cancellations ( in usd per share) \| $ / shares																		$ 20.78
Director compensation, annual cash retainer																		$ 10,000
Director Compensation, Quarterly Installment Of Annual Cash Retainer																		2,500
Corporate Governance Committee Chairman [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Director compensation, annual cash retainer																		5,000
Director Compensation, Quarterly Installment Of Annual Cash Retainer																		1,250
New Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Director Compensation, Quarterly Installment Of Annual Cash Retainer																		$ 25,000
Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage per period						50.00%
Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage per period						25.00%

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	80,000,000	80,000,000
Common stock, shares issued (in shares)	25,880,362	25,703,490
Treasury stock, shares (in shares)	8,025,339	7,625,339

Stockholders' Equity Stockholders' Equity (Summary of Options) (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,848
Common Stock, Capital Shares Reserved for Future Issuance	2,801
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)	1,523	1,934	1,650
Granted (in shares)	100	213	462
Exercised (in shares)	(247)	(459)	(159)
Canceled or expired (in shares)	(298)	(165)	(19)
Outstanding at end of year (in shares)	1,078	1,523	1,934
Exercisable at end of year (in shares)	643	1,001	1,225
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding at beginning of period (in usd per share)	$ 21.95	$ 20.85	$ 19.18
Granted (in usd per share)	24.35	25.43	26.56
Exercised (in usd per share)	17.37	17.73	19.81
Canceled or expired (in usd per share)	21.96	25.34	23.17
Outstanding at end of year (in usd per share)	23.22	21.95	20.85
Exercisable at end of year (in usd per share)	$ 22.02	$ 20.29	$ 18.68
Amended And Restated 2006 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	0
Common Stock, Capital Shares Reserved for Future Issuance	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at end of year (in shares)	844

Acquisitions

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

ACQUISITIONS

On October 9, 2019, we acquired four funeral home businesses in Buffalo, New York for $15.3 million in cash. On October 28, 2019, we acquired one funeral home and cemetery combination business, three funeral home businesses and three ancillary service businesses, which consist of a flower shop, a pet cremation business and an online cremation business, in the Dallas, Texas area for $23.6 million in cash. We acquired substantially all the assets and assumed certain operating liabilities of these businesses.

On December 31, 2019, pursuant to the Transactions Agreement dated November 25, 2019 with Calvary Memorial Park, Inc. and Fairfax Memorial Funeral Home, LLC (“the Agreement“), all of the outstanding equity interests of the Fairfax, Virginia funeral and cemetery combination businesses were acquired for $102.0 million in cash. The funeral home business was operated by a limited liability company that was treated as a partnership for federal tax purposes prior to the acquisition date, and therefore, the acquisition of all of the outstanding membership units of the partnership were treated as an asset acquisition. The cemetery business was operated by an S corporation prior to the acquisition date, and therefore, consent was obtained from the selling S corporation shareholders to make a 338(h)(10) election under the Internal Revenue Code (“the Election”), which allowed us to treat the acquisition of the stock of the cemetery business as an asset acquisition and allowed us to record the assets and liabilities at fair value. Pursuant to the Agreement, a portion of the purchase price is being held in escrow to reimburse the sellers for certain incremental taxes resulting from the Election. These funds must be distributed by December 31, 2020, and if they are not fully utilized, the remaining portion of such funds will be returned to us and the purchase price and goodwill will be reduced by that amount. A portion of the purchase price is also being held in escrow as an indemnity obligation holdback to cover potential indemnification obligations of the sellers, which will be released pursuant to the terms of the Agreement.

The pro forma impact of these acquisitions on prior periods is not presented, as the impact is not significant to our reported results. The results of the acquired businesses are reflected in our Consolidated Statements of Operations from the date of acquisition. As of December 31, 2019, our accounting for our 2019 acquisitions was not complete.

The following table summarizes the breakdown of the purchase price allocation for the businesses described above (in thousands):



	Purchase Price Allocation
Current assets	$	1,482
Preneed trust assets	15,891
Property, plant & equipment	21,680
Cemetery property	11,994
Goodwill	99,344
Intangible and other non-current assets	8,269
Assumed liabilities	(657		)
Preneed trust liabilities	(15,463		)
Deferred revenue	(1,633		)
Purchase price	$	140,907

The following table summarizes the fair value of the assets acquired for these businesses (in thousands):



Acquisition Date	Type of Business	Market	Assets Acquired (Excluding Goodwill)		Goodwill Recorded		Liabilities and Debt Assumed
October 9, 2019	Four Funeral Homes	Buffalo, NY	$	8,147	$	7,135	$	—
October 28, 2019	One Funeral Home and Cemetery Combination, Three Funeral Homes and Three Ancillary Businesses	Dallas, TX	$	16,148	$	13,956	$	(6,479	)
December 31, 2019	One Funeral Home and Cemetery Combination	Fairfax, VA	$	35,021	$	78,253	$	(11,274	)

During 2018, we acquired two funeral home businesses in Fredericksburg, Virginia and one in Stafford, Virginia for $29.2 million in cash. We acquired a funeral home business in Cookeville, Tennessee for $2.8 million in cash. We also acquired one funeral home business on Knightdale, North Carolina for $6.0 million in cash.

The following table summarizes the breakdown of the purchase price allocation for the businesses acquired during 2018 (in thousands):



	Purchase Price Allocation
Current assets	$	166
Property, plant & equipment	17,543
Goodwill	16,777
Intangible and other non-current assets	3,863
Assumed liabilities	(399		)
Purchase price	$	37,950

The intangible and other non-current assets relate to the fair value of tradenames and agreements not-to-compete and the assumed liabilities relate to the obligations associated with certain financed automobiles we acquired.

The following table summarizes the fair value of the assets acquired for the businesses acquired during 2018 (in thousands):



Acquisition Date	Type of Business	Market	Assets Acquired (Excluding Goodwill)		Goodwill Recorded		Liabilities and Debt Assumed
July 10, 2018	Two Funeral Homes	Fredericksburg/Stafford, VA	$	13,210	$	15,990	$	—
August 21, 2018	One Funeral Home	Cookeville, TN	$	2,412	$	527	$	(189	)
August 28, 2018	One Funeral Home	Knightdale, NC	$	5,950	$	260	$	(210	)

Goodwill (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Goodwill

The following table presents changes in goodwill in the accompanying Consolidated Balance Sheet for the years ended December 31, 2018 and 2019 (in thousands):



	December 31, 2018			December 31, 2019
Goodwill at the beginning of year	$	287,956		$	303,887
Increase in goodwill related to acquisitions	16,777			99,344
Decrease in goodwill related to divestitures	—			(4,197		)
Decrease in goodwill related to impairments	(846		)	(742		)
Goodwill at the end of the year	$	303,887		$	398,292

Stockholders' Equity

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Share Authorization

We are authorized to issue 80,000,000 shares of common stock, $0.01 per share par value. We had 25,703,490 and 25,880,362 shares issued and outstanding, net of 7,625,339 and 8,025,339 shares held in treasury at par, at December 31, 2018 and 2019, respectively.

Stock Based Compensation Plans

During the year ended December 31, 2019, we had two stock benefits plans in effect under which stock, restricted stock, stock options and performance awards have been granted or remain outstanding: the Second Amended and Restated 2006 Long-Term Incentive Plan (the “Amended and Restated 2006 Plan”) and the 2017 Omnibus Incentive Plan (the “2017 Plan”). The Amended and Restated 2006 Plan was terminated upon the approval of the 2017 Plan at the annual shareholders meeting on May 17, 2017. The termination of the Amended and Restated 2006 Plan does not affect the awards previously issued and outstanding.

All stock-based plans are administered by the Compensation Committee appointed by our Board of Directors (the “Board”). The 2017 Plan provides for grants of options as non-qualified options or incentive stock options, restricted stock and performance awards. The 2017 Plan expires on May 17, 2027.

The status of each of the plans at December 31, 2019 is as follows (shares in thousands):



	Shares Reserved		Shares Available to Issue	Options Outstanding	Performance Awards Outstanding ⁽²⁾
Amended and Restated 2006 Plan	—		—	844	—
2017 Plan	2,801	(1)	1,848	234	569
Total	2,801		1,848	1,078	569




(1)	Amount includes approximately 1,246,000 shares granted from the Amended and Restated 2006 Plan that were returned to the Company due to cancellations, to pay taxes on restricted stock vestings and to pay option price and taxes on option exercises.
(2)	Performance Awards are reserved at 200% of shares granted which is equal to the maximum payout in shares.

Restricted Stock

During 2019, we issued restricted stock to certain employees totaling 25,550 shares that vest over a three year period and had an aggregate grant date market value of $0.5 million. In 2018, a total of 86,260 shares of restricted stock were awarded with a grant date market value of $2.2 million. In 2017, a total of 27,250 shares of restricted stock were awarded with a grant date market value of $0.8 million.

A summary of the status of unvested restricted stock as of December 31, 2019, and changes during 2019, is presented below (shares in thousands):



Unvested stock awards	Shares		Weighted Average Grant Date Fair Value
Unvested at January 1, 2019	89		$	25.38
Awards	26		19.94
Vestings	(33	)	25.19
Cancellations	(12	)	24.84
Unvested at December 31, 2019	70		$	23.56

We recorded stock-based compensation expense, which is included in General, administrative and other expenses, for restricted stock awards of $0.7 million, $0.8 million and $0.8 million the years ended December 31, 2017, 2018 and 2019, respectively.

As of December 31, 2019, we had $1.6 million of total unrecognized compensation costs related to unvested restricted stock awards, which are expected to be recognized over a weighted average period of approximately 1.4 years.

Stock Options

During 2019, we granted 100,000 options to a certain key employee at a weighted average exercise price of $24.35. These options will vest in one-fifth increments over a five-year period and have a ten-year term. The fair value of these options was $0.6 million. In 2018, a total of 212,940 stock options were awarded, the fair value of which was $1.4 million. In 2017, a total of 461,700 stock options were awarded, the fair value of which was $3.3 million.

Options are granted with an exercise price equal to the closing price of our common stock on the date of grant. All of the options granted and outstanding under this plan have either a seven or ten-year term. We utilize the Black-Scholes option valuation model for estimating the fair value of our stock options. This model allows the use of a range of assumptions related to volatility, risk-free interest rate, expected holding period and dividend yield. The expected volatility utilized in the valuation model is based on the historical volatility of our stock price. The dividend yield and expected holding period are based on historical experience and management's estimate of future events. The risk-free interest rate is derived from the U.S. Treasury yield curve based on the expected life of the option in effect at the time of grant. The fair values of our stock options were calculated using the following weighted average assumptions, based on the methods described above for the years ended December 31, 2017, 2018 and 2019:



	2017		2018		2019
Dividend yield	0.75	%	1.18	%	1.23	%
Expected volatility	29.29	%	27.08	%	27.45	%
Risk-free interest rate	1.95	%	2.65	%	1.65	%
Expected holding period (years)	5.0		5.0		5.0

A summary of the stock options at December 31, 2017, 2018 and 2019 and changes during the three years ended December 31, 2019 is presented in the table and narrative below (shares in thousands):



	Years Ended December 31,
	2017				2018				2019
	Shares		Wtd. Avg. Ex. Price		Shares		Wtd. Avg. Ex. Price		Shares		Wtd. Avg. Ex. Price
Outstanding at beginning of period	1,650		$	19.18	1,934		$	20.85	1,523		$	21.95
Granted	462		$	26.56	213		$	25.43	100		$	24.35
Exercised	(159	)	$	19.81	(459	)	$	17.73	(247	)	$	17.37
Canceled or expired	(19	)	$	23.17	(165	)	$	25.34	(298	)	$	21.96
Outstanding at end of year	1,934		$	20.85	1,523		$	21.95	1,078		$	23.22
Exercisable at end of year	1,225		$	18.68	1,001		$	20.29	643		$	22.02

The aggregate intrinsic value of the outstanding and exercisable stock options was $2.9 million and $2.4 million at December 31, 2019. The total intrinsic value of options exercised during the years ended December 31, 2017, 2018 and 2019 totaled $1.0 million, $3.9 million and $1.2 million, respectively.

The total fair value of stock options vested during 2017, 2018 and 2019 totaled $1.5 million, $1.5 million and $0.9 million, respectively. We recorded stock-based compensation expense, which is included in General, administrative and other expenses, for stock options of $1.5 million, $1.0 million and $0.7 million for the years ended December 31, 2017, 2018 and 2019, respectively.

As of December 31, 2019, there was $1.9 million of unrecognized compensation cost, net of estimated forfeitures, related to unvested stock options expected to be recognized over a weighted average period of approximately 3.02 years.

The following table further describes our outstanding stock options at December 31, 2019:



	Options Outstanding				Options Exercisable
Actual Ranges of Exercise Prices	Number Outstanding at 12/31/19	Weighted-Average Remaining Contractual Life	Weighted-Average Exercise Price		Number Exercisable at 12/31/19	Weighted-Average Exercise Price
$5.70 - $5.94	43,871	1.69	$	5.82	43,871	$	5.82
$20.06 - $22.58	495,320	3.25	$	21.89	84,240	$	20.06
$24.35 - $26.93	538,944	7.95	$	25.86	514,612	$	23.72
$5.70 - $26.93	1,078,135	5.54	$	23.22	642,723	$	22.02

Performance Awards

During 2019, we granted 306,623 performance awards to our leadership team and certain key employees, payable in shares. These awards will vest (if at all) in December 2023, provided that certain criteria surrounding our common stock price is achieved. The fair value of these performance awards was $1.6 million and was determined by using the Monte-Carlo simulation pricing model with the following assumptions:



Grant date	February 20, 2019		August 1, 2019		November 4, 2019		December 2, 2019
Performance period	February 20, 2019 - December 31, 2023		August 1, 2019 - December 31, 2023		November 4, 2019 - December 31, 2023		December 2, 2019 - December 31, 2023
Shares granted	248,500		14,000		9,123		35,000
Simulation period (years)	4.86		4.42		4.16		4.08
Expected volatility	25.7	%	27.01	%	28.39	%	28.47	%
Risk-free interest rate	2.47	%	1.68	%	1.6	%	1.64	%
Forfeiture rate	7.17	%	7.17	%	7.17	%	7.17	%

During 2018, we granted 113,320 performance awards to our leadership team and certain key employees, payable in shares. The fair value of these performance awards was $2.9 million and was determined by using the weighted average stock price on the grant date of $25.43. During 2017, we granted 105,540 performance awards to our leadership team and certain key employees, payable in shares. The fair value of these performance awards was approximately $2.8 million and was determined by using the weighted average stock price on the grant date of $26.56.

On November 29, 2018, we cancelled all the Performance Award Agreements previously awarded to all individuals in 2016, 2017 and 2018, which resulted in a write-off of $3.3 million. Prior to such cancellation, each of the Agreements provided for contingent compensation, which was payable to such individuals in shares of common stock, based on our performance over a five-year period from the date of grant.

We recorded stock-based compensation expense, which is included in General, administrative and other expenses, for performance awards of $0.7 million, $4.4 million and $0.2 million during the years ended December 31, 2017, 2018 and 2019, respectively. The 2018 expense includes the write-off due to the cancellation of the performance awards.

Employee Stock Purchase Plan

We provide all employees the opportunity to purchase common stock through payroll deductions in our ESPP. Purchases are made quarterly; the price being 85% of the lower of the price on the first day of the plan entry date (beginning of the fiscal year) or the actual date of purchase (end of quarter). In 2019, employees purchased a total of 73,731 shares at a weighted average price of $13.18 per share. In 2018, employees purchased a total of 49,938 shares at a weighted average price of $18.56 per share. In 2017, employees purchased a total of 43,808 shares at a weighted average price of $22.43 per share.

We recorded stock-based compensation expense, which is included in General, administrative and other expenses, for our ESPP of approximately $0.2 million, $0.2 million and $0.3 million during the years ended December 31, 2017, 2018 and 2019, respectively.

The fair values of the right (option) to purchase shares under the ESPP are estimated at the date of purchase with the four quarterly purchase dates using the following assumptions:



	2017		2018		2019
Dividend yield	0.9	%	1.4	%	1.4	%
Expected volatility	19	%	21	%	36	%
Risk-free interest rate	0.53%, 0.65%, 0.77%, 0.89%		1.44%, 1.61%, 1.72%, 1.83%		2.42%, 2.51%, 2.56%, 2.60%
Expected life (years)	.25, .50, .75, 1.00		.25, .50, .75, 1.00		.25, .50, .75, 1.00

Expected volatilities are based on the historical volatility during the previous twelve months of the underlying common stock. The risk-free rate for the quarterly purchase periods is based on the U.S. Treasury yields in effect at the time of purchase. The expected life of the ESPP grants represents the calendar quarters from the beginning of the year to the purchase date (end of each quarter).

Director Compensation Plans

Our Director Compensation Policy provides for the following: (i) each independent director is entitled to an annual retainer of $75,000, payable in quarterly installments of $18,750 each at the end of the quarter; and (ii) the Lead Director and chairman of our Audit Committee are entitled to an additional annual retainer of $10,000, payable in quarterly installments of $2,500 each at the end of each quarter, and the chairman of our Corporate Governance and Compensation Committees are entitled to an additional annual retainer of $5,000, payable in quarterly installments of $1,250 each at the end of each quarter. Any new independent director will receive upon admission to the Board a grant of $25,000 (in addition to the independent director annual retainer prorated at the time the new director is admitted to the Board) which can be taken in cash or restricted shares of our common stock. The number of shares of such common stock will be determined by dividing the cash amount by the closing price of our common stock on the date of grant, which will be the date of admission to the Board.

Effective May 16, 2018, our Board revised the Director Compensation Policy such that any Director may elect to receive their annual retainer, which is paid in quarterly installments, in unrestricted shares of our common stock, $0.01 par value by providing written notice as set forth in the Director Compensation Policy. The number of shares of such common stock shall be determined by dividing the cash amount of the retainer by the closing price of our common stock on the date of grant, which shall be the last business day of each quarter. Such common stock shall vest immediately upon grant. Any written notice to receive the retainer in common stock shall remain effective until notice otherwise is made in writing. Our Board also revised the Director Compensation Policy such that the new Director grant of $25,000 shall vest immediately. Prior to this change, the stock grant vested 50% immediately and 25% on each of the first and second anniversaries of admission.

Pursuant to the revised Director Compensation Policy described above, for the year ended December 31, 2019, we granted 7,458 shares of our common stock to two Directors, which were valued at $0.2 million at a weighted average stock price of $20.78.

We recorded compensation expense, which is included in General, administrative and other expenses, related to annual retainers and restricted stock awards of $0.4 million, $0.5 million and $0.5 million during the years ended December 31, 2017, 2018 and 2019, respectively.

Cash Dividends

For the years ended December 31, 2018 and 2019, our Board declared the following dividends payable on the dates below (in thousands, except per share amounts):



2019	Per Share		Dollar Value
March 1st	$	0.075	$	1,360
June 1st	$	0.075	$	1,365
September 1st	$	0.075	$	1,336
December 1st	$	0.075	$	1,337

2018	Per Share		Dollar Value
March 1st	$	0.075	$	1,207
June 1st	$	0.075	$	1,433
September 1st	$	0.075	$	1,436
December 1st	$	0.075	$	1,437

Accumulated other comprehensive income

Our components of Accumulated other comprehensive income are as follows (in thousands):



	Accumulated Other Comprehensive Income
Balance at December 31, 2018	$	—
Decrease in net unrealized gains associated with available-for-sale securities of the trusts	5
Reclassification of net unrealized gain activity attributable to the Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus’	(5		)
Balance at December 31, 2019	$	—

Subsequent Events Subsequent Events	12 Months Ended
Subsequent Events Subsequent Events	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 3, 2020, we acquired a funeral home and cemetery combination business in Lafayette, California for $33.0 million in cash. The consideration for this acquisition was funded through borrowings under our Credit Facility.

Cemetery Perpetual Care Trust Investments

12 Months Ended

Dec. 31, 2019

Cemetery Perpetual Care Trust Investments [Abstract]

CEMETERY PERPETUAL CARE TRUST INVESTMENTS

Care trusts’ corpus on our Consolidated Balance Sheet represent the corpus of those trusts plus undistributed income. The components of Care trusts’ corpus as of December 31, 2018 and 2019 are as follows (in thousands):



	December 31, 2018			December 31, 2019
Cemetery perpetual care trust investments, at market value	$	44,071		$	64,047
Obligations due from trust	(577		)	(631		)
Care trusts’ corpus	$	43,494		$	63,416

We are required by various state laws to pay a portion of the proceeds from the sale of cemetery property interment rights into perpetual care trust funds. The income earned from these perpetual care trusts offsets maintenance expenses for cemetery property and memorials. This trust fund income is recognized, as earned, in Other revenue. Trust management fees charged by CSV RIA are included in revenue in the period in which they are earned. At December 31, 2019, none of our cemetery perpetual care trust investments were underfunded.

Where quoted prices are available in an active market, investments held by the trusts are classified as Level 1 investments pursuant to the three-level valuation hierarchy. Our Level 1 investments include cash, common stock and equity mutual funds. Where quoted market prices are not available for the specific security, then fair values are estimated by using quoted prices of similar securities in active markets or other inputs other than quoted prices that can corroborate observable market data. These investments are fixed income securities, including foreign debt, corporate debt, preferred stock, mortgage-backed securities and fixed income mutual funds, all of which are classified within Level 2 of the valuation hierarchy. There were no transfers between Levels 1 and 2 for the year ended December 31, 2019. There are no Level 3 investments in the cemetery perpetual care trust investment portfolio. See Note 12 to the Consolidated Financial Statements included herein for further information of the fair value measurement and the three-level valuation hierarchy.

The following table reflects the cost and fair market values associated with the trust investments held in perpetual care trust funds at December 31, 2019 (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	4,624	$	—	$	—		$	4,624
Fixed income securities:
Foreign debt	2	4,200		238		(175		)	4,263
Corporate debt	2	11,658		802		(534		)	11,926
Preferred stock	2	10,782		666		(106		)	11,342
Mortgage-backed securities	2	324		—		(71		)	253
Common stock	1	21,594		3,399		(1,911		)	23,082
Mutual funds:
Equity	1	233		146		(1		)	378
Fixed income	2	7,156		618		(107		)	7,667
Trust securities		$	60,571	$	5,869	$	(2,905	)	$	63,535
Accrued investment income		$	512						$	512
Cemetery perpetual care investments									$	64,047
Market value as a percentage of cost									104.9		%

The estimated maturities of the fixed income securities included above are as follows (in thousands):



Due in one year or less	$	—
Due in one to five years	3,130
Due in five to ten years	6,786
Thereafter	17,868
Total fixed income securities	$	27,784

The following table reflects the cost and market values associated with the trust investments held in perpetual care trust funds at December 31, 2018 (in thousands):



	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses			Fair Market Value
Cash and money market accounts	1	$	11,144	$	—	$	—		$	11,144
Fixed income securities:
Foreign debt	2	2,872		27		(385		)	2,514
Corporate debt	2	9,956		227		(730		)	9,453
Preferred stock	2	8,141		37		(820		)	7,358
Mortgage-backed securities	2	417		101		(9		)	509
Common stock	1	15,562		542		(3,395		)	12,709
Trust securities		$	48,092	$	934	$	(5,339	)	$	43,687
Accrued investment income		$	384						$	384
Cemetery perpetual care investments									$	44,071
Market value as a percentage of cost									90.8		%

We determine whether or not the assets in the cemetery perpetual care trusts have an other-than-temporary impairment on a security-by-security basis. This assessment is made based upon a number of criteria including the length of time a security has been in a loss position, changes in market conditions and concerns related to the specific issuer. If a loss is considered to be other-than-temporary, the cost basis of the security is adjusted downward to its fair market value. Any reduction in the cost basis due to an other-than-temporary impairment is also recorded as a reduction to Care trusts’ corpus. We did not record any impairments in the years ended December 31, 2018 and 2019.

At December 31, 2019, we had certain investments within our perpetual care trust investments that had tax lots in loss positions for more than one year. Based on our analyses of these securities, the companies’ businesses and current market conditions, we determined that these investments losses were temporary in nature.



	December 31, 2019
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	168	$	(26	)	$	549	$	(149	)	$	717	$	(175	)
Corporate debt	1,057		(196		)	3,253		(338		)	4,310		(534		)
Preferred stock	2,989		(106		)	—		—			2,989		(106		)
Mortgage-backed securities	—		—			252		(71		)	252		(71		)
Common stock	3,299		(463		)	2,657		(1,448		)	5,956		(1,911		)
Mutual funds:
Equity and Other	2		—			18		(1		)	20		(1		)
Fixed income	732		(94		)	360		(13		)	1,092		(107		)
Total temporary impaired securities	$	8,247	$	(885	)	$	7,089	$	(2,020	)	$	15,336	$	(2,905	)



	December 31, 2018
	In Loss Position Less than 12 months					In Loss Position Greater than 12 months					Total
	Fair market value		Unrealized Losses			Fair market value		Unrealized Losses			Fair market value		Unrealized Losses
Fixed income securities:
Foreign debt	$	1,619	$	(189	)	$	639	$	(196	)	$	2,258	$	(385	)
Corporate debt	7,006		(587		)	301		(143		)	7,307		(730		)
Preferred stock	3,586		(279		)	2,787		(541		)	6,373		(820		)
Mortgage-backed securities	—		—			32		(9		)	32		(9		)
Common stock	9,010		(2,557		)	733		(838		)	9,743		(3,395		)
Total temporary impaired securities	$	21,221	$	(3,612	)	$	4,492	$	(1,727	)	$	25,713	$	(5,339	)



	Years ended December 31,
	2017			2018			2019
Realized gains	$	926		$	1,364		$	1,663
Realized losses	(1,195		)	(1,896		)	(1,258		)
Net change in Care trusts’ corpus	269			532			(405		)
Total	$	—		$	—		$	—

Perpetual care trust investment security transactions recorded in Other revenue for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Investment income	$	5,949		$	5,934		$	4,500
Realized losses, net	(838		)	(1,355		)	(377		)
Total	$	5,111		$	4,579		$	4,123

Purchases and sales of investments in the perpetual care trusts for the years ended December 31, 2017, 2018 and 2019 are as follows (in thousands):



	Years ended December 31,
	2017			2018			2019
Purchases	$	(13,923	)	$	(17,313	)	$	(26,573	)
Sales	8,899			25,786			17,588

Share Repurchase Program	12 Months Ended
Share Repurchase Program	Dec. 31, 2019
Class of Stock Disclosures [Abstract]
Share Repurchase Program	SHARE REPURCHASE PROGRAM On February 25, 2016, our Board approved a share repurchase program authorizing us to purchase up to an aggregate of $25.0 million of our common stock in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). On October 25, 2017, our Board approved a $15.0 million increase in its authorization for repurchases bringing the total authorized repurchase amount to $40.0 million. On July 31, 2019, our Board approved an additional $25.0 million for repurchases of our common stock in accordance with the Exchange Act. During the year ended December 31, 2019, we repurchased 400,000 shares of common stock for a total cost of $7.8 million at an average cost of $19.39 per share pursuant to our share repurchase program. During the year ended December 31, 2018, we repurchased 1,101,969 shares of common stock for a total cost of $17.7 million at an average cost of $16.03 per share pursuant to our share repurchase program. During the year ended December 31, 2017, we repurchased 574,054 shares of common stock for a total cost of $14.0 million at an average cost of $24.35 per share pursuant to our share repurchase program. Our shares were purchased in the open market at times and in amounts as management determined appropriate based on factors such as market conditions, legal requirements and other business considerations. Shares purchased pursuant to the repurchase program are currently held as treasury shares. At December 31, 2019, we had approximately $25.6 million available for repurchase under our share repurchase program.

Valuation and Qualifying Accounts Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee severance accruals
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ 1,141	$ 0	$ 1,517
Charged to costs and expenses	1,265	1,649	571
Deduction	1,569	508	2,088
Balance at end of year	837	1,141	0
Valuation allowance of the deferred tax asset
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	276	244	209
Charged to costs and expenses	0	32	35
Deduction	43	0	0
Balance at end of year	233	276	244
SEC Schedule, 12-09, Valuation Allowance, Current [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	769	835	746
Charged to costs and expenses	1,088	1,111	1,248
Deduction	1,008	1,177	1,159
Balance at end of year	849	769	835
SEC Schedule, 12-09, Valuation Allowance, Noncurrent [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	2,151	2,278	2,166
Charged to costs and expenses	532	730	950
Deduction	457	857	838
Balance at end of year	$ 2,226	$ 2,151	$ 2,278

Contracts Secured by Insurance	12 Months Ended
Contracts Secured by Insurance	Dec. 31, 2019
Contracts Secured by Insurance [Abstract]
CONTRACTS SECURED BY INSURANCE	CONTRACTS FUNDED BY INSURANCE When preneed funeral contracts are funded through third-party insurance policies, we earn a commission on the sale of the policies. Insurance commissions are subject to refund (charge-back) if the preneed policy is cancelled within a year or if there is an imminent death of beneficiary before the first year anniversary of the policy. We record these insurance commissions as Other revenue, as noted in our table of disaggregated revenue in Note 6 to the Consolidated Financial Statements included herein, when the commission is no longer subject to refund, which is typically one year after the policy is issued. All selling costs incurred pursuant to the sale of the insurance funded preneed contracts are expensed as incurred. Preneed funeral contracts to be funded at maturity by third-party insurance policies totaled $388.2 million and $408.8 million at December 31, 2018 and 2019, respectively, and are not recorded as assets or liabilities on our Consolidated Balance Sheet. Generally, at the time of the sale of either the preneed insurance or preneed trust contract, the intent is that the beneficiary has made a commitment to assign the proceeds to us for the fulfillment of the service and merchandise obligations on the preneed contract at the time of need. However, this commitment is revocable and the proceeds from the policy are portable, so the customer can choose to use an alternative provider at the time of need.

Senior Notes (Notes)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

SENIOR NOTES

On May 31, 2018, we issued $325.0 million in aggregate principal amount of our Initial Senior Notes and related guarantees in a private offering under Rule 144A and Regulation S under the Securities Act.

We received proceeds of $320.1 million, net of a 1.5% debt discount of $4.9 million, of which we used $291.4 million to repay our existing indebtedness under our former credit agreement. We incurred $1.4 million in debt issuance costs related to the Initial Senior Notes.

The Initial Senior Notes were issued under an indenture, dated as of May 31, 2018 (the “Indenture”), among us, certain of our existing subsidiaries (collectively, the “Subsidiary Guarantors”), as guarantors, and Wilmington Trust, National Association., as trustee.

On December 19, 2019, we issued an additional $75.0 million in aggregate principal amount of our Initial Senior Notes (the “Additional Senior Notes” and, together with the Initial Senior Notes, the “Senior Notes”) and related guarantees by the Subsidiary Guarantors in a private offering under Rule 144A and Regulation S of the Securities Act. The Additional Senior Notes were issued as additional securities under the Indenture.

We received proceeds of $76.9 million, net of a debt premium of $1.7 million (plus accrued interest of $0.2 million). We incurred $1.0 million in debt issuance costs related to the Additional Senior Notes. The additional issuance brings the total principal amount of the Senior Notes outstanding to $400.0 million. The Senior Notes are treated as a single class of securities under the Indenture, and the Additional Senior Notes have identical terms to the Initial Senior Notes, except with respect to the date of issuance, the issue price, the initial interest accrual date and the initial interest payment date.

The Senior Notes bear interest at 6.625% per year. Interest on the Senior Notes began to accrue on May 31, 2018 and is payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2018 with respect to the Initial Senior Notes and June 1, 2020 with respect to the Additional Senior Notes to holders of record on each May 15 and November 15 preceding an interest payment date. The Senior Notes mature on June 1, 2026, unless earlier redeemed or repurchased. The Senior Notes are unsecured, senior obligations and are fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each of the Subsidiary Guarantors.

We may redeem all or part of the Senior Notes at any time prior to June 1, 2021 at a redemption price equal to 100% of the principal amount of Senior Notes redeemed, plus a “make whole” premium, and accrued and unpaid interest, if any, to the date of redemption. We have the right to redeem the Senior Notes at any time on or after June 1, 2021 at the redemption prices described in the Indenture, plus accrued and unpaid interest, if any, to the date of redemption. Additionally, at any time before June 1, 2021, we may redeem up to 40% of the aggregate principal amount of the Senior Notes issued with an amount equal to the net proceeds of certain equity offerings, at a price equal to 106.625% of the principal amount of the Senior Notes, plus accrued and unpaid interest, if any, to the date of redemption; provided that (1) at least 60% of the aggregate principal amount of the Senior Notes (including any additional Senior Notes ) originally issued under the Indenture remain outstanding immediately after the occurrence of such redemption (excluding Senior Notes held by us); and (2) each such redemption must occur within 180 days of the date of the closing of each such equity offering.

If a “change of control” occurs, holders of the Senior Notes will have the option to require us to purchase for cash all or a

portion of their Senior Notes at a price equal to 101% of the principal amount of the Senior Notes, plus accrued and unpaid interest. In addition, if we make certain asset sales and do not reinvest the proceeds thereof or use such proceeds to repay certain debt, we will be required to use the proceeds of such asset sales to make an offer to purchase the Senior Notes at a price equal to 100% of the principal amount of the Senior Notes, plus accrued and unpaid interest.

The Indenture contains restrictive covenants limiting our ability and our Restricted Subsidiaries (as defined in the Indenture) to, among other things, incur additional indebtedness or issue certain preferred shares, create liens on certain assets to secure debt, pay dividends or make other equity distributions, purchase or redeem capital stock, make certain investments, sell assets, agree to certain restrictions on the ability of Restricted Subsidiaries to make payments to us, consolidate, merge, sell or otherwise dispose of all or substantially all assets, or engage in transactions with affiliates. The Indenture also contains customary events of default.

The carrying value of the Senior Notes at December 31, 2018 and December 31, 2019 are reflected in our Consolidated Balance Sheet as follows (in thousands):



	December 31, 2018			December 31, 2019
Long-term liabilities:
Principal amount	$	325,000		$	400,000
Debt premium	—			1,688
Debt discount, net of accumulated amortization of $273 and $492, respectively	(4,602		)	(4,110		)
Debt issuance costs, net of accumulated amortization of $77 and $216, respectively	(1,290		)	(2,131		)
Carrying value of the Senior Notes	$	319,108		$	395,447

The fair value of the Senior Notes, which are Level 2 measurements, was $426.4 million at December 31, 2019.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue:
Revenues	$ 274,107	$ 267,992	$ 258,139
Field costs and expenses:
Cemetery property amortization	3,985	3,602	3,350
Field depreciation expense	12,370	12,015	11,024
Regional and unallocated funeral and cemetery costs	13,827	12,749	13,339
Other expenses	2,055	1,548	1,321
Total field costs and expenses	194,522	192,045	181,340
Gross profit	79,585	75,947	76,799
Corporate costs and expenses:
General, administrative and other	25,880	30,827	26,253
Home office depreciation and amortization	1,416	1,813	1,605
Total corporate costs and expenses	27,296	32,640	27,858
Operating income	52,289	43,307	48,941
Interest expense	(25,522)	(21,109)	(12,948)
Accretion of discount on convertible subordinated notes	(241)	(2,192)	(4,329)
Loss on early extinguishment of debt, net	0	(502)	0
Other, net	(4,110)	(1,238)	1,118
Income before income taxes	22,416	18,266	32,782
Provision for income taxes	(7,395)	(5,754)	(13,100)
Tax adjustment related to certain discrete items	(488)	(867)	17,511
Total benefit (provision) for income taxes	(7,883)	(6,621)	4,411
Net income	$ 14,533	$ 11,645	$ 37,193
Basic earnings per common share (in dollars per share)	$ 0.81	$ 0.64	$ 2.25
Diluted earnings per common share (in dollars per share)	0.80	0.63	2.09
Dividends declared per share (in dollars per share)	$ 0.300	$ 0.300	$ 0.225
Weighted average number of common and common equivalent shares outstanding:
Basic (in shares)	17,877	17,971	16,438
Diluted (in shares)	18,005	18,374	17,715
Service revenue
Revenue:
Revenues	$ 142,554	$ 138,604	$ 132,592
Field costs and expenses:
Cost of goods and services	72,991	72,123	66,884
Property and merchandise revenue
Revenue:
Revenues	114,514	112,253	108,046
Field costs and expenses:
Cost of goods and services	89,294	90,008	85,422
Other revenue
Revenue:
Revenues	$ 17,039	$ 17,135	$ 17,501

Acquisitions (Narrative) (Details) $ in Millions						12 Months Ended
Acquisitions (Narrative) (Details) $ in Millions	Oct. 28, 2019 USD ($)	Oct. 09, 2019 USD ($)	Aug. 28, 2018 USD ($)	Aug. 21, 2018 acquisitions	Jul. 10, 2018 acquisitions	Dec. 31, 2019 funeral_homes	Dec. 31, 2019 acquisitions	Dec. 31, 2018 USD ($) business
Business Acquisition [Line Items]
Number Of Funeral Homes \| business								2
Number of Businesses Acquired \| acquisitions							2
Number of funeral homes acquired				1		4	7
Buffalo, New York [Member]
Business Acquisition [Line Items]
Consideration transferred		$ 15.3
Dallas, Texas [Member]
Business Acquisition [Line Items]
Consideration transferred	$ 23.6
Longmont, Colorado [Member]
Business Acquisition [Line Items]
Payments to acquire businesses								$ 2.8
Loveland, Colorado [Member]
Business Acquisition [Line Items]
Payments to acquire businesses								29.2
Long Island, New York [Member]
Business Acquisition [Line Items]
Payments to acquire businesses								$ 6.0
Fairfax, Virginia [Member]
Business Acquisition [Line Items]
Consideration transferred			$ 102.0
Fredericksburg, Virginia [Member]
Business Acquisition [Line Items]
Number of funeral homes acquired \| acquisitions					1

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Aug. 28, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration		$ 7,200
Unrecognized tax benefits		691	$ 0	$ 0	$ 0
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration		45,800
Gross increases - tax positions in prior period		$ 691	$ 0	$ 0
Fairfax, Virginia [Member]
Operating Loss Carryforwards [Line Items]
Consideration transferred	$ 102,000

Preneed Trust Investments (Preneed cemetery trust investment security transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Investment income	$ 4,500	$ 5,934	$ 5,949
Net change in deferred preneed cemetery receipts held in trust	(4,123)	(4,579)	(5,111)
Preneed Cemetery Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Investment income	1,743	1,596	2,250
Realized gains	6,353	4,546	2,218
Realized losses	(4,677)	(5,817)	(2,384)
Expenses and taxes	(1,313)	(907)	(1,308)
Net change in deferred preneed cemetery receipts held in trust	$ (2,106)	$ 582	$ (776)

Related Party Transactions (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Treasury stock acquired, shares	400,000	1,101,969	574,054
Average cost per share (in usd per share)	$ 19.39	$ 16.03	$ 24.35
Payments for repurchase of equity	$ 7.8	$ 17.7	$ 14.0

Revenue From Contracts With Customers Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Debt Instrument, Unamortized Discount	$ 319
Number of business segments \| segment	2
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Service Contract, Term	8 years
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Service Contract, Term	10 years
Cemetery
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 4,800	$ 4,400
Funeral
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 8,900	$ 8,300

Intangible and Other Non-Current Assets

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets Disclosure

INTANGIBLE AND OTHER NON-CURRENT ASSETS

Intangible and other non-current assets at December 31, 2018 and 2019 are as follows (in thousands):



	December 31, 2018		December 31, 2019
Prepaid agreements not-to-compete, net of accumulated amortization of $6,672 and $7,195, respectively	$	4,048	$	3,915
Tradenames	17,635		25,233
Capitalized commissions on preneed contracts, net of accumulated amortization of $599 and $1,127, respectively	2,717		2,818
Other	25		150
Intangible and other non-current assets	$	24,425	$	32,116

Prepaid agreements not-to-compete are amortized over the term of the respective agreements, ranging generally from one to ten years. Amortization expense was approximately $0.6 million, $0.6 million and $0.7 million for the years ended December 31, 2017, 2018 and 2019, respectively. During the years ended December 31, 2018 and 2019, we increased prepaid agreements not-to-compete by $0.8 million and $0.4 million related to our 2018 and 2019 acquisitions described in Note 3 to the Consolidated Financial Statements included herein.

Our tradenames have indefinite lives and therefore are not amortized. During the years ended December 31, 2018 and 2019, we increased tradenames by $3.3 million and $7.8 million related to our 2018 and 2019 acquisitions described in Note 3 to the Consolidated Financial Statements included herein. During 2019, we recorded an impairment to tradenames of $0.2 million as a result of our 2019 annual impairment test as the carrying amount of certain tradenames exceeded the fair value. We did not record an impairment to tradenames in the year ended December 31, 2018. See Note 1 to the Consolidated Financial Statements included herein, for a discussion of the methodology used for our annual indefinite-lived intangible asset impairment test.

We capitalize our selling costs related to preneed cemetery merchandise and services and preneed funeral trust contracts. These costs are amortized on a straight-line basis over the average maturity period for our preneed cemetery merchandise and services contracts and preneed funeral trust contracts, of eight and ten years, respectively. Prior to our adoption of ASC 606 on January 1, 2018, these costs were expensed in the period incurred. Amortization expense totaled $0.6 million for both the years ended December 31, 2018 and 2019.

On September 30, 2018, our management agreement with a Florida municipality expired and as a result, we ceased to operate three of our cemetery businesses. We recorded a loss of approximately $125,000 in Other, net, for the write-off of capitalized commissions related to these three cemetery businesses. There were no impairment losses recognized for the year ended December 31, 2019. See Note 5 to the Consolidated Financial Statements included herein for additional information regarding the expired management agreement for these three cemetery businesses.

Acquisitions Acquisitions (Purchase Price Breakdown) (Details) - USD ($) $ in Thousands				12 Months Ended
	Oct. 28, 2019	Oct. 09, 2019	Aug. 28, 2018	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill				$ 303,887	$ 398,292	$ 287,956
Buffalo, New York [Member]
Business Acquisition [Line Items]
Assets Acquired (Excluding Goodwill)		$ 8,147
Consideration transferred		15,300
Goodwill		7,135
Liabilities and Debt Assumed		$ 0
Dallas, Texas [Member]
Business Acquisition [Line Items]
Assets Acquired (Excluding Goodwill)	$ 16,148
Consideration transferred	23,600
Goodwill	13,956
Liabilities and Debt Assumed	$ 6,479
Fairfax, Virginia [Member]
Business Acquisition [Line Items]
Assets Acquired (Excluding Goodwill)					35,021
Consideration transferred			$ 102,000
Goodwill					78,253
Liabilities and Debt Assumed					$ 11,274
Longmont, Colorado [Member]
Business Acquisition [Line Items]
Payments to acquire businesses				2,800
Loveland, Colorado [Member]
Business Acquisition [Line Items]
Payments to acquire businesses				29,200
Long Island, New York [Member]
Business Acquisition [Line Items]
Payments to acquire businesses				$ 6,000

Major Segments of Business

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

MAJOR SEGMENTS OF BUSINESS

We conduct funeral and cemetery operations only in the United States. The following table presents revenue, operating income (loss), income (loss) before income taxes, depreciation and amortization, interest expense, income tax expense (benefit), total assets, long-lived assets, capital expenditures and number of operating locations by segment (in thousands, except number of operating locations):



	Funeral			Cemetery			Corporate			Consolidated
Revenue:
2019	$	216,868		$	57,239		$	—		$	274,107
2018	210,725			57,267			—			267,992
2017	200,886			57,253			—			258,139
Operating income (loss):
2019	$	63,602		$	15,983		$	(27,296	)	$	52,289
2018	60,881			15,066			(32,640		)	43,307
2017	61,369			15,430			(27,858		)	48,941
Income (loss) before income taxes:
2019	$	58,844		$	16,025		$	(52,453	)	$	22,416
2018	59,912			15,349			(56,995		)	18,266
2017	60,634			15,852			(43,704		)	32,782
Depreciation and amortization:
2019	$	11,128		$	5,227		$	1,416		$	17,771
2018	10,726			4,891			1,813			17,430
2017	9,785			4,589			1,605			15,979
Interest expense:
2019	$	1,142		$	—		$	24,380		$	25,522
2018	1,339			—			19,770			21,109
2017	1,170			2			11,776			12,948
Income tax expense (benefit):
2019	$	20,694		$	5,635		$	(18,446	)	$	7,883
2018	21,717			5,564			(20,660		)	6,621
2017	(8,159		)	(2,133		)	5,881			(4,411		)
Total assets:
2019	$	790,459		$	314,413		$	24,883		$	1,129,755
2018	686,470			226,475			4,557			917,502
2017	665,483			251,243			4,807			921,533
Long-lived assets:
2019	$	650,179		$	145,158		$	1,303		$	796,640
2018	572,916			89,654			1,538			664,108
2017	537,282			90,292			2,124			629,698
Capital expenditures:
2019	$	8,403		$	5,772		$	1,204		$	15,379
2018	8,296			3,989			1,241			13,526
2017	9,835			5,283			1,277			16,395
Number of operating locations at year end:
2019	186			31			—			217
2018	182			29			—			211
2017	178			32			—			210

Recently Issued Accounting Standards

12 Months Ended

Dec. 31, 2019

Accounting Changes and Error Corrections [Abstract]

RECENTLY ISSUED ACCOUNTING STANDARDS

Leases

In February 2016, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) related to Leases (Topic 842) and subsequent amendments, collectively referred to as (“Topic 842”) to increase transparency and comparability among organizations by requiring the recognition of ROU assets and lease liabilities on the balance sheet for all leases, including operating leases. The ROU asset represents the right to use the underlying asset for the lease term and the lease liability represents the obligation to make lease payments arising from the lease. Finance leases were not impacted by Topic 842, as finance lease liabilities and the corresponding ROU assets were already recorded on the balance sheet under the previous guidance Topic 840, Leases.

On January 1, 2019, we adopted Topic 842 using the modified retrospective method for all lease arrangements at the beginning of the period of adoption. Results for reporting periods beginning January 1, 2019, are presented under Topic 842, while prior period amounts have not been adjusted and continue to be reported in accordance with Topic 840. While Topic 842 had a material impact on our Consolidated Balance Sheet, it did not have a material impact on our Consolidated Statements of Operations or Cash Flows, or liquidity measures, such as debt covenant ratios. It also did not have a material impact on our effective tax rate for the reporting period. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases. For leases that commenced before the effective date of Topic 842, we elected the permitted practical expedients to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. We also elected to exclude leases with a term of 12 months or less in the recognized ROU assets and lease liabilities. We have real estate lease agreements which require payments for lease and non-lease components and have elected to account for these as a single lease component. We have elected the short-term lease recognition exemption for all applicable classes of underlying assets.

On January 1, 2019, we recorded operating lease ROU assets of $16.5 million and operating lease liabilities of $17.3 million, related to our real estate and equipment leases, based on the present value of the future lease payments on the date of adoption. Our opening operating lease ROU asset balance included prepaid lease expense and lease incentives on our Consolidated Balance Sheet at December 31, 2018. The cumulative effect of changes made to our opening Consolidated Balance Sheet on January 1, 2019, for the adoption of Topic 842 is as follows (in thousands):



	December 31, 2018		Effect of Adoption of Topic 842			January 1, 2019
Assets
Prepaid expenses	$	1,456	$	(148	)	$	1,308
Operating lease right-of-use assets	—		16,470			16,470
			$	16,322
Liabilities
Accrued and other liabilities	$	22,644	$	(274	)	$	22,370
Other long-term liabilities	3,133		(692		)	2,441
Current portion of operating lease obligations	—		$	2,633		2,633
Obligations under operating leases, net of current portion	—		14,655			14,655
			$	16,322

See Note 17 to the Consolidated Financial Statements included herein for the additional disclosures required by Topic 842.

We have no material leases in which we are the lessor.

Accounting Pronouncements Not Yet Adopted

Financial Instruments - Credit Losses

Income Taxes

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loss Contingencies [Line Items]
Agreements, Future Payments, Due in One Year		$ 6,486
Agreements, Future Payments, Due in Two Years		6,050
Agreements, Future Payments, Due in Three Years		4,946
Agreements, Future Payments, Due in Four Years		1,932
Agreements, Future Payments, Due in Five Years		1,333
Agreements, Future Payments, Due Thereafter		927
Matching contributions and plan administrative expenses		2,000	$ 2,100	$ 1,900
Payments for Legal Settlements	$ 700
Noncompete Agreements
Loss Contingencies [Line Items]
Agreements, Future Payments, Due in One Year		2,135
Agreements, Future Payments, Due in Two Years		1,905
Agreements, Future Payments, Due in Three Years		1,465
Agreements, Future Payments, Due in Four Years		993
Agreements, Future Payments, Due in Five Years		665
Agreements, Future Payments, Due Thereafter		927
Consulting Agreement
Loss Contingencies [Line Items]
Agreements, Future Payments, Due in One Year		869
Agreements, Future Payments, Due in Two Years		663
Agreements, Future Payments, Due in Three Years		404
Agreements, Future Payments, Due in Four Years		162
Agreements, Future Payments, Due in Five Years		20
Agreements, Future Payments, Due Thereafter		0
Employment Agreement
Loss Contingencies [Line Items]
Agreements, Future Payments, Due in One Year		3,482
Agreements, Future Payments, Due in Two Years		3,482
Agreements, Future Payments, Due in Three Years		3,077
Agreements, Future Payments, Due in Four Years		777
Agreements, Future Payments, Due in Five Years		648
Agreements, Future Payments, Due Thereafter		$ 0
Minimum \| Noncompete Agreements
Loss Contingencies [Line Items]
Agreements, Term of Contract		1 year
Minimum \| Consulting Agreement
Loss Contingencies [Line Items]
Agreements, Term of Contract		1 year
Minimum \| Employment Agreement
Loss Contingencies [Line Items]
Agreements, Term of Contract		3 years
Maximum \| Noncompete Agreements
Loss Contingencies [Line Items]
Agreements, Term of Contract		10 years
Maximum \| Consulting Agreement
Loss Contingencies [Line Items]
Agreements, Term of Contract		5 years
Maximum \| Employment Agreement
Loss Contingencies [Line Items]
Agreements, Term of Contract		5 years

Divested Operations

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Divested Operations

DIVESTED OPERATIONS

The operating results of these divested businesses are reflected in our Consolidated Statements of Operations as shown in the table below (in thousands):



	Year Ended December 31,
	2017			2018			2019
Revenue	$	605		$	4,712		$	805

Operating income (loss)	277			1,130			(569		)
Other, net⁽¹⁾	191			(349		)	(3,883		)
Income tax benefit (provision)	(187		)	(246		)	1,288
Net income (loss) from divested operations	$	281		$	535		$	(3,164	)




(1)	Reflects the net gain (loss) on disposal.

Recently Issued Accounting Standards Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid and other current assets	$ 1,596	$ 1,308	$ 1,456
Operating lease right-of-use assets	22,304	16,470	0
Assets	1,129,755		917,502	$ 921,533
Accrued and other liabilities		22,370	22,644
Other long-term liabilities	1,737	2,441	3,133
Current portion of operating lease obligations	1,554	2,633	0
Obligations under operating leases, net of current portion	21,533	14,655	0
Liabilities	$ 903,186		$ 696,010
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid and other current assets		(148)
Operating lease right-of-use assets		16,470
Assets		16,322
Accrued and other liabilities		(274)
Other long-term liabilities		(692)
Current portion of operating lease obligations		2,633
Obligations under operating leases, net of current portion		14,655
Liabilities		$ 16,322

Cemetery Perpetual Care Trust Investments Cemetery Perpetual Care Trust Investments (Unrealized losses on perpetual care trust investments) (Details) - Perpetual Care Trust Investments - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	$ 8,247	$ 21,221
Unrealized Losses, In Loss Position Less than12 months	(885)	(3,612)
Fair market value, In Loss Position Greater than12 months	7,089	4,492
Unrealized Losses, In Loss Position Greater than12 months	(2,020)	(1,727)
Fair market value, Total	15,336	25,713
Unrealized Losses, Total	(2,905)	(5,339)
Corporate debt
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	168	1,619
Unrealized Losses, In Loss Position Less than12 months	(26)	(189)
Fair market value, In Loss Position Greater than12 months	549	639
Unrealized Losses, In Loss Position Greater than12 months	(149)	(196)
Fair market value, Total	717	2,258
Unrealized Losses, Total	(175)	(385)
Preferred stock
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	1,057	7,006
Unrealized Losses, In Loss Position Less than12 months	(196)	(587)
Fair market value, In Loss Position Greater than12 months	3,253	301
Unrealized Losses, In Loss Position Greater than12 months	(338)	(143)
Fair market value, Total	4,310	7,307
Unrealized Losses, Total	(534)	(730)
Preferred stock
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months		3,586
Unrealized Losses, In Loss Position Less than12 months		(279)
Fair market value, In Loss Position Greater than12 months		2,787
Unrealized Losses, In Loss Position Greater than12 months		(541)
Fair market value, Total		6,373
Unrealized Losses, Total		(820)
Mortgage-backed securities
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	2,989
Unrealized Losses, In Loss Position Less than12 months	(106)
Fair market value, In Loss Position Greater than12 months	0
Unrealized Losses, In Loss Position Greater than12 months	0
Fair market value, Total	2,989
Unrealized Losses, Total	(106)
Mortgage-backed securities
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	0	0
Unrealized Losses, In Loss Position Less than12 months	0	0
Fair market value, In Loss Position Greater than12 months	252	32
Unrealized Losses, In Loss Position Greater than12 months	(71)	(9)
Fair market value, Total	252	32
Unrealized Losses, Total	(71)	(9)
Fixed Income
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	3,299	9,010
Unrealized Losses, In Loss Position Less than12 months	(463)	(2,557)
Fair market value, In Loss Position Greater than12 months	2,657	733
Unrealized Losses, In Loss Position Greater than12 months	(1,448)	(838)
Fair market value, Total	5,956	9,743
Unrealized Losses, Total	(1,911)	$ (3,395)
Equity and Other Securities [Member]
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	2
Unrealized Losses, In Loss Position Less than12 months	0
Fair market value, In Loss Position Greater than12 months	18
Unrealized Losses, In Loss Position Greater than12 months	(1)
Fair market value, Total	20
Unrealized Losses, Total	(1)
Fixed Income Securities
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	732
Unrealized Losses, In Loss Position Less than12 months	94
Fair market value, In Loss Position Greater than12 months	360
Unrealized Losses, In Loss Position Greater than12 months	13
Fair market value, Total	1,092
Unrealized Losses, Total	$ 107

Intangible and Other Non-Current Assets Intangible and Other Non-Current Assets (Tables)

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure

and other non-current assets at December 31, 2018 and 2019 are as follows (in thousands):



	December 31, 2018		December 31, 2019
Prepaid agreements not-to-compete, net of accumulated amortization of $6,672 and $7,195, respectively	$	4,048	$	3,915
Tradenames	17,635		25,233
Capitalized commissions on preneed contracts, net of accumulated amortization of $599 and $1,127, respectively	2,717		2,818
Other	25		150
Intangible and other non-current assets	$	24,425	$	32,116

Earnings Per Share Earnings Per Share (Narrative) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Incremental common shares attributable to dilutive effect of conversion of debt securities	10	337	941
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	338	1,661	354

Supplementary Information

12 Months Ended

Dec. 31, 2019

Supplemental Income Statement Elements [Abstract]

SUPPLEMENTAL DISCLOSURE OF STATEMENT OF OPERATIONS INFORMATION

SUPPLEMENTARY DATA

Balance Sheet

The detail of certain balance sheet accounts as of December 31, 2018 and 2019 is as follows (in thousands):



	December 31,
	2018		2019
Prepaids and other current assets:
Prepaid expenses	$	1,456	$	1,596
Deposit on pending acquisition	—		5,000
Federal income tax receivable	923		2,973
State income tax receivable	422		986
Other current assets	210		112
Total other current assets	$	3,011	$	10,667

Accrued and other liabilities:
Accrued salaries and wages	$	4,088	$	4,323
Accrued incentive compensation	7,395		9,199
Accrued vacation	2,358		2,880
Accrued insurance	3,188		2,329
Accrued interest	1,856		2,299
Accrued ad valorem and franchise taxes	904		678
Accrued commissions	441		560
Perpetual care trust taxes payable	962		401
Deferred rent	274		—
Other accrued liabilities	1,178		1,357
Total accrued and other liabilities	$	22,644	$	24,026

Other long-term liabilities:
Deferred rent	$	692	$	—
Incentive compensation	1,563		1,267
Contingent consideration	878		470
Total other long-term liabilities	$	3,133	$	1,737

Senior Notes Carrying value of the Senior Notes (Details) - USD ($)	Dec. 31, 2019	Dec. 19, 2019	Dec. 31, 2018	May 31, 2018
Debt Instrument [Line Items]
Debt issuance costs, net of accumulated amortization of $44	$ (1,618,000)		$ (955,000)
Accumulated Amortization, Debt Issuance Costs	4,442,000		4,138,000
Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount	400,000,000			$ 325,000,000
Debt premium	1,688,000
Debt discount, net of accumulated amortization of $154	(4,110,000)		(4,602,000)
Debt issuance costs, net of accumulated amortization of $44	(2,131,000)		(1,290,000)
Carrying value of the Senior Notes	395,447,000		319,108,000
Senior Notes [Member] \| Senior Note Two [Member]
Debt Instrument [Line Items]
Principal amount	400,000,000	$ 75,000,000	325,000,000
Debt premium	$ 1,688,000		$ 0

Supplementary Information (Supplemental Disclosure for the Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 71,149	$ 66,125	$ 67,752	$ 69,081	$ 66,517	$ 64,241	$ 63,847	$ 73,387	$ 274,107	$ 267,992	$ 258,139
Cost of Revenue									194,522	192,045	181,340
Funeral
Segment Reporting Information [Line Items]
Revenues									216,868	210,725	200,886
Cemetery
Segment Reporting Information [Line Items]
Revenues									$ 57,239	$ 57,267	$ 57,253

Supplemental Disclosure of Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Information [Abstract]

Supplemental Disclosure for the Consolidated Statements of Cash Flows

The following information is supplemental disclosure for the Consolidated Statements of Cash Flows (in thousands):



	Years Ended December 31,
	2017		2018		2019
Cash paid for interest and financing costs	$	11,092	$	18,858	$	23,870
Cash paid for taxes	$	5,902	$	3,543	$	378
Fair value of stock, stock options and performance awards issued to directors, officers, and certain other employees	$	6,854	$	6,563	$	2,855

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Share-based awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and included in the computation of both basic and diluted earnings per share. Our grants of restricted stock awards to our employees and directors are considered participating securities and we have prepared our earnings per share calculations to exclude outstanding unvested restricted stock awards, using the two-class method, in the basic and diluted weighted average shares outstanding calculation.

The following table sets forth the computation of the basic and diluted earnings per share for the years ended December 31, 2017, 2018 and 2019 (in thousands, except per share data):



	Years Ended December 31,
	2017			2018			2019
Numerator for basic and diluted earnings per share:
Net income	$	37,193		$	11,645		$	14,533
Less: Earnings allocated to unvested restricted stock	(135		)	(57		)	(62		)
Income attributable to common stockholders	$	37,058		$	11,588		$	14,471

Denominator:
Denominator for basic earnings per common share - weighted average shares outstanding	16,438			17,971			17,877
Effect of dilutive securities:
Stock options	336			66			118
Convertible subordinated notes	941			337			10
Denominator for diluted earnings per common share - weighted average shares outstanding	17,715			18,374			18,005

Basic earnings per common share	$	2.25		$	0.64		$	0.81
Diluted earnings per common share	$	2.09		$	0.63		$	0.80

The fully diluted weighted average shares outstanding for the years ended December 31, 2017, 2018 and 2019, and the corresponding calculation of fully diluted earnings per share, included 941,000, 337,000 and 10,000 shares that would have been issued upon the conversion of our convertible subordinated notes as a result of the application of the if-converted method prescribed by the FASB ASC 260.

For the years ended December 31, 2017, 2018 and 2019, there were 354,000, 1,661,000 and 338,000 stock options excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect.

Fair Value Measurements Fair Value Measurements (Narrative) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Convertible subordinated notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 7.8
Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 426.4

Earnings Per Share Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Income (Loss) from Continuing Operations Attributable to Parent	$ 2,569	$ 577	$ 4,862	$ 6,525	$ (2,658)	$ 2,200	$ 2,747	$ 9,356	$ 14,533	$ 11,645	$ 37,193
Earnings Allocated to Unvested Restricted Stock									(62)	(57)	(135)
Income from Continuing Operations Less Earnings Allocated to Unvested Restricted Stock									$ 14,471	$ 11,588	$ 37,058
Weighted Average Number of Shares Outstanding, Basic									17,877	17,971	16,438
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units									$ 118	$ 66	$ 336
Incremental common shares attributable to dilutive effect of conversion of debt securities									10	337	941
Weighted average number of common and common equivalent shares outstanding for diluted EPS computation									18,005	18,374	17,715
Basic earnings per common share (in dollars per share)	$ 0.14	$ 0.03	$ 0.27	$ 0.36	$ (0.14)	$ 0.11	$ 0.15	$ 0.58	$ 0.81	$ 0.64	$ 2.25
Diluted earnings per common share (in dollars per share)	$ 0.14	$ 0.03	$ 0.27	$ 0.36	$ (0.14)	$ 0.11	$ 0.15	$ 0.52	$ 0.80	$ 0.63	$ 2.09

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 14,533	$ 11,645	$ 37,193
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,771	17,430	15,979
Provision for losses on accounts receivable	1,618	1,841	2,198
Stock-based compensation expense	2,153	6,583	3,162
Deferred income tax expense (benefit)	10,117	3,823	(11,651)
Amortization of deferred financing costs	392	532	820
Amortization of capitalized commissions on preneed contracts	558	599	0
Accretion of discount on convertible subordinated notes	241	2,192	4,329
Accretion of discount on senior notes	492	272	0
Net loss on early extinguishment of debt	0	502	0
Net loss (gain) on sale of businesses and disposal of other assets	4,096	1,052	(710)
Goodwill and other impairments	963	1,019	0
Gain on insurance reimbursements	(879)	0	0
Other	121	0	0
Changes in operating assets and liabilities that provided (required) cash:
Accounts and preneed receivables	(5,801)	(5,061)	(4,254)
Inventories, prepaid and other current assets	(2,762)	(159)	1,446
Intangible and other non-current assets	(251)	(390)	149
Preneed funeral and cemetery trust investments	(6,500)	488	2,373
Accounts payable	(580)	2,044	(3,649)
Accrued and other liabilities	1,271	3,990	(385)
Deferred preneed funeral and cemetery revenue	168	6,546	1,446
Deferred preneed funeral and cemetery receipts held in trust	5,495	(5,954)	(3,216)
Net cash provided by operating activities	43,216	48,994	45,230
Cash flows from investing activities:
Acquisitions and land for new construction	(140,907)	(37,970)	(28,799)
Deposit on pending acquisition	(5,000)	0	0
Proceeds from insurance reimbursements	1,433	0	0
Net proceeds from sale of businesses and other assets	967	0	5,731
Capital expenditures	(15,379)	(13,526)	(16,395)
Net cash used in investing activities	(158,886)	(51,496)	(39,463)
Cash flows from financing activities:
Payments against the term loan	0	(127,500)	(11,250)
Borrowings from the credit facility	174,961	124,500	106,900
Payments against the credit facility	(118,261)	(189,400)	(82,600)
Payment of debt issuance costs related to the credit facility	891	1,751	0
Redemption of the 2.75% convertible subordinated notes	(27)	(98,266)	0
Payment of transaction costs related to the redemption of the 2.75% convertible subordinated notes	0	(885)	0
Proceeds from the issuance of the 6.625% senior notes	76,688	320,125	0
Payment of debt issuance costs related to the 6.625% senior notes	(980)	(1,367)	0
Payments on long-term debt and obligations under finance leases	(2,287)	(1,940)	(1,962)
Payments on contingent consideration recorded at acquisition date	(162)	(138)	(101)
Proceeds from the exercise of stock options and employee stock purchase plan contributions	1,445	1,246	1,496
Taxes paid on restricted stock vestings and exercise of non-qualified options	(194)	(651)	(509)
Dividends paid on common stock	(5,398)	(5,513)	(3,709)
Purchase of treasury stock	(9,152)	(16,266)	(16,366)
Net cash provided by (used in) financing activities	115,742	2,194	(8,101)
Net increase (decrease) in cash and cash equivalents	72	(308)	(2,334)
Cash and cash equivalents at beginning of year	644		$ 952
Cash and cash equivalents at end of year	716	644
Senior Notes [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred financing costs	100
Accretion of discount on senior notes	$ 500	$ 300

Supplemental Disclosure of Cash Flow Information (Supplemental disclosure for the Consolidated Statements of Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Segment [Line Items]
Cash paid for interest and financing costs	$ 23,870	$ 18,858	$ 11,092
Cash paid for taxes	378	3,543	5,902
Fair value of stock, stock options and performance awards issued to directors, officers, and certain other employees	$ 2,855	$ 6,563	$ 6,854

Revenue From Contracts With Customers (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Our operations are reported in two business segments: Funeral Home Operations and Cemetery Operations. Revenue, disaggregated by major source for each of our reportable segments was as follows (in thousands):



For The Year Ended, December 31, 2019
	Funeral		Cemetery		Total
Services	$	131,636	$	10,918	$	142,554
Merchandise	75,682		7,665		83,347
Cemetery property	—		31,167		31,167
Other revenue	9,550		7,489		17,039
Total	$	216,868	$	57,239	$	274,107



For The Year Ended, December 31, 2018
	Funeral		Cemetery		Total
Services	$	127,262	$	11,342	$	138,604
Merchandise	74,644		8,158		82,802
Cemetery property	—		29,451		29,451
Other revenue	8,819		8,316		17,135
Total	$	210,725	$	57,267	$	267,992



For The Year Ended, December 31, 2017 ^(a)
	Funeral		Cemetery		Total
Services	$	120,827	$	11,765	$	132,592
Merchandise	71,573		8,187		79,760
Cemetery property	—		28,286		28,286
Other revenue	8,486		9,015		17,501
Total	$	200,886	$	57,253	$	258,139

Commitments and Contingencies Commitments and Contingencies (Non-Compete, Consulting and Employment Agreements) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Other Commitments [Line Items]
2020	$ 6,486
2021	6,050
2022	4,946
2023	1,932
2024	1,333
Thereafter	927
Total	21,674
Noncompete Agreements
Other Commitments [Line Items]
2020	2,135
2021	1,905
2022	1,465
2023	993
2024	665
Thereafter	927
Total	8,090
Consulting Agreement [Member]
Other Commitments [Line Items]
2020	869
2021	663
2022	404
2023	162
2024	20
Thereafter	0
Total	2,118
Employment Agreement [Member]
Other Commitments [Line Items]
2020	3,482
2021	3,482
2022	3,077
2023	777
2024	648
Thereafter	0
Total	$ 11,466
Minimum \| Noncompete Agreements
Other Commitments [Line Items]
Other Commitment, Term of Contract	1 year
Minimum \| Consulting Agreement [Member]
Other Commitments [Line Items]
Other Commitment, Term of Contract	1 year
Minimum \| Employment Agreement [Member]
Other Commitments [Line Items]
Other Commitment, Term of Contract	3 years
Maximum \| Noncompete Agreements
Other Commitments [Line Items]
Other Commitment, Term of Contract	10 years
Maximum \| Consulting Agreement [Member]
Other Commitments [Line Items]
Other Commitment, Term of Contract	5 years
Maximum \| Employment Agreement [Member]
Other Commitments [Line Items]
Other Commitment, Term of Contract	5 years

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule of Valuation and Qualifying Accounts Disclosure

CARRIAGE SERVICES, INC.

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS

(in thousands)



Description	Balance at beginning of year		Charged to costs and expenses		Deduction		Balance at end of year
Year ended December 31, 2017:
Allowance for bad debts, current portion	$	746	$	1,248	$	1,159	$	835
Allowance for receivables from preneed funeral and cemetery trusts and contract cancellations, non-current portion	$	2,166	$	950	$	838	$	2,278
Employee severance accruals	$	1,517	$	571	$	2,088	$	—
Valuation allowance of the deferred tax asset	$	209	$	35	$	—	$	244

Year ended December 31, 2018:
Allowance for bad debts, current portion	$	835	$	1,111	$	1,177	$	769
Allowance for receivables from preneed funeral and cemetery trusts and contract cancellations, non-current portion	$	2,278	$	730	$	857	$	2,151
Employee severance accruals	$	—	$	1,649	$	508	$	1,141
Valuation allowance of the deferred tax asset	$	244	$	32	$	—	$	276

Year ended December 31, 2019:
Allowance for bad debts, current portion	$	769	$	1,088	$	1,008	$	849
Allowance for receivables from preneed funeral and cemetery trusts and contract cancellations, non-current portion	$	2,151	$	532	$	457	$	2,226
Employee severance accruals	$	1,141	$	1,265	$	1,569	$	837
Valuation allowance of the deferred tax asset	$	276	$	—	$	43	$	233

Senior Notes (Details) - USD ($)			12 Months Ended
Senior Notes (Details) - USD ($)	Dec. 19, 2019	May 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Repayments of Long-term Lines of Credit			$ 118,261,000	$ 189,400,000	$ 82,600,000
Debt instrument, term			77 months
Proceeds from the issuance of the 6.625% senior notes			$ 76,688,000	320,125,000	0
Debt Instrument, Unamortized Discount			319,000
Accretion of discount on senior notes			492,000	272,000	0
Amortization of debt issuance costs			$ 392,000	532,000	$ 820,000
Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Debt redemption price (percent)			100.00%
Debt Instrument, Redemption Price, Percentage, Change Of Control			101.00%
Senior Note Two [Member] \| Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Debt redemption price (percent)			100.00%
Senior Note Two [Member] \| Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt redemption price (percent)			106.625%
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed			40.00%
Senior Note Two [Member] \| Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed			60.00%
Debt Instrument, Redemption Period Within Close Date			180 days
Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount		$ 325,000,000	$ 400,000,000
Debt premium			1,688,000
Long-term debt, fair value			426,400,000
Interest expense			21,700,000	12,600,000
Accretion of discount on senior notes			500,000	$ 300,000
Amortization of debt issuance costs			$ 100,000
Senior Notes [Member] \| Senior Note One [Member]
Debt Instrument [Line Items]
Repayments of Long-term Lines of Credit		291,400,000
Debt Issuance Costs, Gross		1,400,000
Principal amount		325,000,000
Proceeds from the issuance of the 6.625% senior notes		$ 320,100,000
Debt Instrument, Discount Rate		1.50%	6.87%
Debt Instrument, Unamortized Debt Issuance Costs				6.69%
Debt Instrument, Unamortized Discount			$ 4,900,000
Senior Notes [Member] \| Senior Note Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Increase, Accrued Interest	$ 200,000
Debt Issuance Costs, Gross	1,000,000
Debt instrument interest rate (in percent)			6.625%
Principal amount	75,000,000		$ 400,000,000	$ 325,000,000
Proceeds from the issuance of the 6.625% senior notes	$ 76,900,000
Debt premium			$ 1,688,000	$ 0
Debt Instrument, Discount Rate			6.20%
Debt Instrument, Unamortized Debt Issuance Costs				6.88%

Preneed Cemetery Receivables (Aging of past due financing receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	$ 3,283	$ 3,100
Current	38,033	34,144
Total Financing Receivables	41,316	37,244
Recognized Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	2,494	2,319
Current	28,382	25,289
Total Financing Receivables	30,876	27,608
Deferred Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	789	781
Current	9,651	8,855
Total Financing Receivables	10,440	9,636
31-60 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	964	916
31-60 Days Past Due \| Recognized Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	745	642
31-60 Days Past Due \| Deferred Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	219	274
61-90 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	513	560
61-90 Days Past Due \| Recognized Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	392	395
61-90 Days Past Due \| Deferred Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	121	165
91-120 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	295	196
91-120 Days Past Due \| Recognized Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	148	143
91-120 Days Past Due \| Deferred Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	147	53
Greater than 120 Day Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,511	1,428
Greater than 120 Day Past Due \| Recognized Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,209	1,139
Greater than 120 Day Past Due \| Deferred Revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	$ 302	$ 289

Stockholders' Equity Stockholders' Equity (Four quarterly assumptions for fair value of the right (option) to purchase shares under ESPP) (Details) - Employee Stock Purchase Plan	3 Months Ended												12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield													1.40%	1.40%	0.90%
Expected volatility													36.00%	21.00%	19.00%
Risk-free interest rate	2.60%	2.56%	2.51%	2.42%	1.83%	1.72%	1.65%	1.44%	0.89%	0.77%	0.65%	0.53%
Expected life (years)	1 year	9 months	6 months	3 months	1 year	9 months	6 months	3 months	1 year	9 months	6 months	3 months

Preneed Cemetery Receivables (Tables)

12 Months Ended

Dec. 31, 2019

Preneed Cemetery Receivables [Abstract]

Schedule of Financing Receivables

cemetery financed receivables are comprised of the following at December 31, 2018 and December 31, 2019 (in thousands):



	December 31, 2018		December 31, 2019
Cemetery interment rights	$	27,728	$	31,366
Cemetery merchandise and services	9,516		9,950
Cemetery financed receivables	$	37,244	$	41,316

Our cemetery financed receivables presented on our Consolidated Balance Sheet at December 31, 2018 and December 31, 2019 are as follows (in thousands):



	December 31, 2018		December 31, 2019
Accounts receivable, including unearned finance charges and allowance for contract cancellations of $2,405 and $2,458, respectively	$	11,676	$	13,905
Preneed receivables, including unearned finance charges and allowance for contract cancellations of $4,049 and $3,980, respectively	25,568		27,411
Cemetery financed receivables	$	37,244	$	41,316

Preneed Cemetery Receivables

For the years ending December 31, 2018 and 2019, the change in the allowance for contract cancellations is as follows (in thousands):



	As of December 31,
	2018			2019
Beginning balance	$	2,019		$	1,808
Write-offs and cancellations	(1,357		)	(733		)
Provision	1,146			841
Ending balance	$	1,808		$	1,916

Aging of Past Due Financing Receivables

The aging of past due financing receivables as of December 31, 2019 is as follows (in thousands):



	31-60 Past Due		61-90 Past Due		91-120 Past Due		>120 Past Due		Total Past Due		Current		Total Financing Receivables
Recognized revenue	$	745	$	392	$	148	$	1,209	$	2,494	$	28,382	$	30,876
Deferred revenue	219		121		147		302		789		9,651		10,440
Total contracts	$	964	$	513	$	295	$	1,511	$	3,283	$	38,033	$	41,316

The aging of past due financing receivables as of December 31, 2018 is as follows (in thousands):



	31-60 Past Due		61-90 Past Due		91-120 Past Due		>120 Past Due		Total Past Due		Current		Total Financing Receivables
Recognized revenue	$	642	$	395	$	143	$	1,139	$	2,319	$	25,289	$	27,608
Deferred revenue	274		165		53		289		781		8,855		9,636
Total contracts	$	916	$	560	$	196	$	1,428	$	3,100	$	34,144	$	37,244

Preneed Trust Investments Preneed Trust Investments (Estimated maturities of fixed preneed funeral trust income securities) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Preneed Cemetery Trust Investments
Debt Securities, Available-for-sale [Line Items]
Due in one year or less	$ 0
Due in one to five years	4,518
Due in five to ten years	10,395
Thereafter	23,425
Total	38,338
Preneed Funeral Trust Investments
Debt Securities, Available-for-sale [Line Items]
Due in one year or less	0
Due in one to five years	5,456
Due in five to ten years	9,656
Thereafter	23,067
Total	$ 38,179

Cemetery Perpetual Care Trust Investments (Purchases and sales of investments in perpetual care trusts) (Details) - Perpetual Care Trust Investments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Purchases	$ (26,573)	$ (17,313)	$ (13,923)
Sales	$ 17,588	$ 25,786	$ 8,899

Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Preneed receivables	$ 20,173	$ 18,441
Accounts receivable, net of allowance for bad debts	21,478	18,897
Property, Plant and Equipment, Gross	415,295	385,783
Less: accumulated depreciation	(136,095)	(124,945)
Property, plant and equipment, net	279,200	260,838
Other Receivables	681	200
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	84,608	81,012
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 242,641	223,646
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Automobiles \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Automobiles \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	7 years
Furniture, equipment and automobiles
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 88,046	81,125
Funeral
Property, Plant and Equipment [Line Items]
Accounts receivable, net of allowance for bad debts	10,758	9,002
Other Receivables	1,100	700
Cemetery
Property, Plant and Equipment [Line Items]
Preneed Receivables, Gross	27,411	25,568
Unearned Finance Charges	(2,690)	(2,821)
Accounts Receivable, Allowance for Credit Loss, Noncurrent	(1,290)	(1,228)
Preneed Receivables, Balances Due on Undelivered Contracts	(3,258)	(3,078)
Preneed receivables	20,173	18,441
Accounts receivable, net of allowance for bad debts	$ 10,039	$ 9,688

Intangible and Other Non-Current Assets Intangible and Other Non-Current Assets (Details)		3 Months Ended	12 Months Ended
	Sep. 30, 2018 USD ($) business	Sep. 30, 2018 USD ($) business	Dec. 31, 2019 USD ($) business	Dec. 31, 2018 USD ($) business	Dec. 31, 2017 USD ($)
Deferred Costs and Other Noncurrent Assets [Abstract]
Tradenames			$ 25,233,000	$ 17,635,000
Capitalized commissions on preneed contracts, net			2,818,000	2,717,000
Other			150,000	25,000
Intangible and other non-current assets			32,116,000	24,425,000
Amortization of capitalized commissions on preneed contracts			$ 558,000	$ 599,000	$ 0
Number Of Business Closed \| business	3	3	3	3
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down	$ 125,000	$ 125,000
Accumulated Amortization of Other Deferred Costs			$ 599,000
Minimum
Deferred Costs and Other Noncurrent Assets [Abstract]
Service Contract, Term			8 years
Maximum
Deferred Costs and Other Noncurrent Assets [Abstract]
Service Contract, Term			10 years
Noncompete Agreements
Deferred Costs and Other Noncurrent Assets [Abstract]
Prepaid agreements not-to-compete, net of accumulated amortization of $6,672 and $7,195, respectively			$ 3,915,000	$ 4,048,000
Accumulated amortization			6,672,000	6,051,000
Amortization of intangible assets			$ 700,000	600,000	600,000
Noncompete Agreements \| Minimum
Deferred Costs and Other Noncurrent Assets [Abstract]
Term of agreements not to compete			1 year
Noncompete Agreements \| Maximum
Deferred Costs and Other Noncurrent Assets [Abstract]
Term of agreements not to compete			10 years
Noncompete Agreements
Deferred Costs and Other Noncurrent Assets [Abstract]
Increase (Decrease) in Deferred Charges			$ 400,000	800,000
Trade Names
Deferred Costs and Other Noncurrent Assets [Abstract]
Tradenames acquired			7,800,000	$ 3,300,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 0		$ 200,000

Recently Issued Accounting Standards (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Changes and Error Corrections [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The cumulative effect of changes made to our opening Consolidated Balance Sheet on January 1, 2019, for the adoption of Topic 842 is as follows (in thousands):



	December 31, 2018		Effect of Adoption of Topic 842			January 1, 2019
Assets
Prepaid expenses	$	1,456	$	(148	)	$	1,308
Operating lease right-of-use assets	—		16,470			16,470
			$	16,322
Liabilities
Accrued and other liabilities	$	22,644	$	(274	)	$	22,370
Other long-term liabilities	3,133		(692		)	2,441
Current portion of operating lease obligations	—		$	2,633		2,633
Obligations under operating leases, net of current portion	—		14,655			14,655
			$	16,322

See Note 17 to the Consolidated Financial Statements included herein for the additional disclosures required by Topic 842.

We have no material leases in which we are the lessor.

Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes for the years ended December 31, 2017, 2018 and 2019 consisted of the following (in thousands):



	Years Ended December 31,
	2017			2018		2019
Current:
U. S. federal provision (benefit)	$	6,425		$	1,489	$	(2,039	)
State provision (benefit)	815			1,309		(195		)
Total current provision (benefit)	$	7,240		$	2,798	$	(2,234	)
Deferred:
U. S. federal provision (benefit)	$	(12,881	)	$	2,831	$	8,056
State provision	1,230			992		2,061
Total deferred provision (benefit)	$	(11,651	)	$	3,823	$	10,117
Total income tax provision (benefit)	$	(4,411	)	$	6,621	$	7,883

Schedule of Effective Income Tax Rate Reconciliation



	Years Ended December 31,
	2017						2018						2019
	Amount			Percent			Amount			Percent			Amount			Percent
Federal statutory rate	$	11,474		35.0		%	$	3,834		21.0		%	$	4,707		21.0		%
Effect of state income taxes, net of federal benefit	1,304			4.0			1,776			9.7			1,352			6.0
Effect of non-deductible expenses and other, net	(36		)	(0.1	)		1,451			7.9			947			4.2
Effect of divestiture and impairment of business	—			—			—			—			911			4.1
Change in valuation allowance	23			0.1			26			0.1			(34		)	(0.2	)
Re-measurement of deferred taxes due to tax reform	(17,176		)	(52.4	)		(466		)	(2.5	)		—			—
Total	$	(4,411	)	(13.5	)	%	$	6,621		36.2		%	$	7,883		35.1		%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences from total operations that give rise to significant deferred tax assets and liabilities at December 31, 2018 and 2019 are as follows (in thousands):



	Years Ended December 31,
	2018			2019
Deferred income tax assets:
Net operating loss carryforwards	$	1,569		$	3,602
Interest expense limitation	996			4,190
Tax credit carryforwards	133			100
State bonus depreciation	970			1,124
Accrued liabilities and other	5,493			5,124
Amortization of non-compete agreements	1,135			1,104
Preneed liabilities	4,242			—
Total deferred income tax assets	14,538			15,244
Less valuation allowance	(276		)	(234		)
Total deferred income tax assets	$	14,262		$	15,010
Deferred income tax liabilities:
Depreciation and amortization	$	(45,150	)	$	(49,568	)
Preneed liabilities	—			(6,446		)
Convertible subordinated notes due 2021	(131		)	(75		)
Prepaids and other	(244		)	(289		)
Total deferred income tax liabilities	(45,525		)	(56,378		)
Total net deferred tax liabilities	$	(31,263	)	$	(41,368	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):



	Years Ended December 31,
	2017		2018		2019
Unrecognized tax benefit at beginning of year	$	—	$	—	$	—
Gross increases - tax positions in prior period	—		—		691
Gross decreases - tax positions in prior period	—		—		—
Gross increases - tax positions in current period	—		—		—
Settlement	—		—		—
Unrecognized tax benefit at end of year	$	—	$	—	$	691

Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) shares in Thousands				1 Months Ended		3 Months Ended			12 Months Ended
	Sep. 30, 2018 USD ($) business	Aug. 21, 2018 acquisitions	Jul. 10, 2018 acquisitions	Dec. 24, 2019 acquisitions	Oct. 31, 2019 acquisitions business	Mar. 31, 2019 USD ($)	Sep. 30, 2018 USD ($) business	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($) states business	Dec. 31, 2019 USD ($) locations states business	Dec. 31, 2019 USD ($) transaction states business	Dec. 31, 2019 USD ($) funeral_homes states business	Dec. 31, 2019 USD ($) acquisitions states business	Dec. 31, 2019 USD ($) states business shares	Dec. 31, 2019 USD ($) states business	Dec. 31, 2019 USD ($) states business	Dec. 31, 2019 USD ($) states business segment	Dec. 31, 2018 USD ($) locations business shares	Dec. 31, 2017 USD ($) locations shares	Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Number Of Transactions \| transaction											3
Number of Businesses Acquired \| acquisitions													2
Number Of Ancillary Services Acquired In Acquisitions \| acquisitions													3
Retained earnings									$ 86,213,000	$ 86,213,000	$ 86,213,000	$ 86,213,000	$ 86,213,000	$ 86,213,000	$ 86,213,000	$ 86,213,000	$ 86,213,000	$ 71,680,000
Financing Receivable, before Allowance for Credit Loss									41,316,000	41,316,000	41,316,000	41,316,000	41,316,000	41,316,000	41,316,000	41,316,000	41,316,000	37,244,000
Unearned Finance Charges Included In Receivables									$ 4,500,000	$ 4,500,000	$ 4,500,000	$ 4,500,000	$ 4,500,000	$ 4,500,000	$ 4,500,000	$ 4,500,000	$ 4,500,000	$ 4,600,000
Percent of total receivables which are 120 days or more past due (in percent)									4.40%	4.40%	4.40%	4.40%	4.40%	4.40%	4.40%	4.40%	4.40%	4.60%
Number of operating locations at year end \| locations										217								211	210
Share-based Payment Arrangement, Expense, Tax Benefit																$ 400,000		$ 800,000
Taxes paid on restricted stock vestings and exercise of non-qualified options																(194,000)		(651,000)	$ (509,000)
Debt Issuance Costs, Net									$ 1,618,000	$ 1,618,000	$ 1,618,000	$ 1,618,000	$ 1,618,000	$ 1,618,000	$ 1,618,000	$ 1,618,000	$ 1,618,000	955,000
Number of states in which the entity operated funeral homes (in States) \| states									29	29	29	29	29	29	29	29	29
Number of states in which the entity operated cemeteries (in States) \| states									11	11	11	11	11	11	11	11	11
Number of business segments \| segment																	2
Amortization Of Cemetery Property						$ 4,000,000		$ 3,600,000											3,300,000
Accounts receivable, net of allowance for bad debts									$ 21,478,000	$ 21,478,000	$ 21,478,000	$ 21,478,000	$ 21,478,000	$ 21,478,000	$ 21,478,000	$ 21,478,000	$ 21,478,000	18,897,000
Bad debt																$ 1,618,000		1,841,000	2,198,000
The percentage of trust assets in custody of institution receiving trust management services									71.00%	71.00%	71.00%	71.00%	71.00%	71.00%	71.00%	71.00%	71.00%
Preneed Cemetery Contracts, Term						5 years
Field depreciation expense																$ 13,800,000		13,800,000	$ 12,600,000
Impairment of long lived assets																$ 173,000		$ 0
Number of funeral homes acquired		1										4	7
Incremental common shares attributable to dilutive effect of conversion of debt securities \| shares														10				337	941
Allowance for Doubtful Accounts, Percentage of Accounts Receivable									2.20%	2.20%	2.20%	2.20%	2.20%	2.20%	2.20%	2.20%	2.20%
Other Receivables									$ 681,000	$ 681,000	$ 681,000	$ 681,000	$ 681,000	$ 681,000	$ 681,000	$ 681,000	$ 681,000	$ 200,000
Cemetery Property, Net									$ 87,032,000	$ 87,032,000	$ 87,032,000	$ 87,032,000	$ 87,032,000	$ 87,032,000	$ 87,032,000	87,032,000	$ 87,032,000	74,958,000
Amortization of capitalized commissions on preneed contracts																$ 558,000		$ 599,000	$ 0
Number Of Business Closed \| business	3						3		3	3	3	3	3	3	3	3	3	3
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down	$ 125,000						$ 125,000
Goodwill and Intangible Asset Impairment																$ 500,000		$ 800,000
Goodwill, Other Increase (Decrease)																(200,000)
Goodwill, Written off Related to Sale of Business Unit																4,197,000		0
Goodwill and other impairments																963,000		1,019,000	$ 0
Past due notifications starting date (in days)									15 days
Number of days past due contractual payments are when they are provided for with a one hundred percent allowance (in Days)									90 days
Accumulated amortization of cemetery property									$ 37,700,000	$ 37,700,000	$ 37,700,000	$ 37,700,000	$ 37,700,000	$ 37,700,000	$ 37,700,000	37,700,000	$ 37,700,000	41,700,000
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Reserves									3,200,000	3,200,000	3,200,000	3,200,000	3,200,000	3,200,000	$ 3,200,000	3,200,000	3,200,000
Separate Income Tax Return
Debt Instrument [Line Items]
Number of States in Which Entity Files Separate State Income Tax Returns \| states															15
Combined or unitary income tax return
Debt Instrument [Line Items]
Number of States in Which Entity Files Unitary Tax Returns \| states															14
Funeral
Debt Instrument [Line Items]
Revenue, Remaining Performance Obligation, Amount									8,900,000	$ 8,900,000	8,900,000	8,900,000	8,900,000	8,900,000	$ 8,900,000	8,900,000	8,900,000	$ 8,300,000
Number of operating locations at year end \| locations										186								182	178
Cemetery
Debt Instrument [Line Items]
Revenue, Remaining Performance Obligation, Amount									$ 4,800,000	$ 4,800,000	$ 4,800,000	$ 4,800,000	$ 4,800,000	$ 4,800,000	$ 4,800,000	$ 4,800,000	$ 4,800,000	$ 4,400,000
Number of operating locations at year end \| locations										31								29	32
Funeral Homes [Member]
Debt Instrument [Line Items]
Revenue, Percentage									80.00%	80.00%	80.00%	80.00%	80.00%	80.00%	80.00%	80.00%	80.00%
Cemeteries [Member]
Debt Instrument [Line Items]
Revenue, Percentage									20.00%	20.00%	20.00%	20.00%	20.00%	20.00%	20.00%	20.00%	20.00%
Perpetual Care Trust Investments
Debt Instrument [Line Items]
Accounts receivable, net of allowance for bad debts									$ 100,000	$ 100,000	$ 100,000	$ 100,000	$ 100,000	$ 100,000	$ 100,000	$ 100,000	$ 100,000	$ 1,800,000
Buffalo, New York [Member]
Debt Instrument [Line Items]
Number of funeral homes acquired \| acquisitions					4
Dallas, Texas [Member]
Debt Instrument [Line Items]
Number of Businesses Acquired \| acquisitions					1
Number Of Ancillary Services Acquired In Acquisitions \| business					3
Number of funeral homes acquired \| acquisitions					3
Fairfax, Virginia [Member]
Debt Instrument [Line Items]
Number of Businesses Acquired \| acquisitions				1
Fredericksburg, Virginia [Member]
Debt Instrument [Line Items]
Number of funeral homes acquired \| acquisitions			1
NORTH CAROLINA
Debt Instrument [Line Items]
Number of funeral homes acquired \| acquisitions		1
Trade Names
Debt Instrument [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)																0			$ 200,000
Convertible subordinated notes
Debt Instrument [Line Items]
Debt Issuance Costs, Net									29,000	29,000	29,000	29,000	29,000	29,000	29,000	29,000	29,000	54,000
Discontinued Operations, Disposed of by Sale [Member] \| KENTUCKY
Debt Instrument [Line Items]
Disposal Group, Including Discontinued Operation, Consideration																		900,000
Discontinued Operations, Disposed of by Sale [Member] \| Tennessee
Debt Instrument [Line Items]
Disposal Group, Including Discontinued Operation, Consideration																				$ 600,000
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest																(3,164,000)		535,000	$ 281,000
Cemetery
Debt Instrument [Line Items]
Accounts Receivable, Allowance for Credit Loss, Current									580,000	580,000	580,000	580,000	580,000	580,000	580,000	580,000	580,000	622,000
Accounts receivable, net of allowance for bad debts									10,039,000	10,039,000	10,039,000	10,039,000	10,039,000	10,039,000	10,039,000	10,039,000	10,039,000	9,688,000
Accounts Receivable, Allowance for Credit Loss, Noncurrent									1,290,000	1,290,000	1,290,000	1,290,000	1,290,000	1,290,000	1,290,000	1,290,000	1,290,000	1,228,000
Funeral
Debt Instrument [Line Items]
Accounts Receivable, Allowance for Credit Loss, Current									189,000	189,000	189,000	189,000	189,000	189,000	189,000	189,000	189,000	213,000
Accounts Receivable, before Allowance for Credit Loss									9,900,000	9,900,000	9,900,000	9,900,000	9,900,000	9,900,000	9,900,000	9,900,000	9,900,000	8,500,000
Accounts receivable, net of allowance for bad debts									10,758,000	10,758,000	10,758,000	10,758,000	10,758,000	10,758,000	10,758,000	10,758,000	10,758,000	9,002,000
Other Receivables									$ 1,100,000	$ 1,100,000	$ 1,100,000	$ 1,100,000	$ 1,100,000	$ 1,100,000	$ 1,100,000	$ 1,100,000	$ 1,100,000	$ 700,000
Minimum
Debt Instrument [Line Items]
Service Contract, Term									8 years
Lease Term									1 year
Maximum
Debt Instrument [Line Items]
Service Contract, Term									10 years
Lease Term									19 years
Lease Term, Options To Extend									26 years

Income Taxes Income Taxes (Provision of Income Taxes from Continuing Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
U. S. federal provision (benefit)	$ (2,039)	$ 1,489	$ 6,425
State provision (benefit)	(195)	1,309	815
Total current provision (benefit)	(2,234)	2,798	7,240
Deferred:
U. S. federal provision (benefit)	8,056	2,831	(12,881)
State provision	2,061	992	1,230
Total deferred provision (benefit)	10,117	3,823	(11,651)
Total income tax provision (benefit)	$ 7,883	$ 6,621	$ (4,411)

Goodwill

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

Many of the former owners and staff of our acquired funeral homes and certain cemeteries have provided high quality service to families for generations, which often represents a substantial portion of the value of a business. The excess of the purchase price over the fair value of identifiable net assets of funeral home businesses and cemeteries acquired is recorded as goodwill.

Our goodwill has an indefinite life and is not subject to amortization. As such, we test goodwill for impairment on an annual basis. Our intent is to perform a quantitative impairment test at least once every three years unless certain indicators or events suggest otherwise and perform a qualitative assessment during the remaining two years. Under current guidance, we are permitted to first assess qualitative factors to determine whether it is more-likely-than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative goodwill impairment test. For our 2019 annual impairment test, we performed a quantitative assessment and determined that there was no impairment to goodwill as the fair value of our reporting units was greater than the carrying value.

See Note 1 to the Consolidated Financial Statements included herein, for a discussion of the methodology used for our annual goodwill impairment test.

The following table presents changes in goodwill in the accompanying Consolidated Balance Sheet for the years ended December 31, 2018 and 2019 (in thousands):



	December 31, 2018			December 31, 2019
Goodwill at the beginning of year	$	287,956		$	303,887
Increase in goodwill related to acquisitions	16,777			99,344
Decrease in goodwill related to divestitures	—			(4,197		)
Decrease in goodwill related to impairments	(846		)	(742		)
Goodwill at the end of the year	$	303,887		$	398,292

During year ended December 31, 2019, we recognized $99.3 million in goodwill related to our acquisitions; $36.9 million was allocated to our cemetery segment and $62.4 million was allocated to our funeral home segment.

During year ended December 31, 2019, we sold a funeral home business with a $4.2 million carrying value of goodwill for a loss recorded in Other, net. See Note 5 to the Consolidated Financial Statements included herein, for a discussion of our divested businesses.

During year ended December 31, 2019, we also recorded a goodwill impairment of $0.5 million in Other, net, related to a funeral home business that we divested in the fourth quarter of 2019 and a $0.2 million goodwill impairment related to a funeral home business that is under a letter of intent to sell during 2020, as the carrying value exceeded fair value at December 31, 2019.

During the year ended December 31, 2018, we recorded an impairment of $0.8 million related to a funeral home business that we divested during the third quarter of 2019.

Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Cash and Cash Equivalents, Policy

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Property, Plant and Equipment

Depreciation of property, plant and equipment (including equipment under finance leases) is computed based on the straight-line method over the following estimated useful lives of the assets:



	Years
Buildings and improvements	15 to 40
Furniture and fixtures	5 to 10
Machinery and equipment	3 to 15
Automobiles	5 to 70

Property, plant and equipment is comprised of the following at December 31, 2018 and 2019 (in thousands):



	December 31, 2018			December 31, 2019
Land	$	81,012		$	84,608
Buildings and improvements	223,646			242,641
Furniture, equipment and automobiles	81,125			88,046
Property, plant and equipment, at cost	385,783			415,295
Less: accumulated depreciation	(124,945		)	(136,095		)
Property, plant and equipment, net	$	260,838		$	279,200

Divested Operations Assets Held for Sale and Discontinued Operations (Assets held for sale and discontinued operations) (Details) - Tennessee - Discontinued Operations, Disposed of by Sale [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 805	$ 4,712	$ 605
Operating income	(569)	1,130	277
Net gain on disposal	(3,883)	(349)	191
Income tax provision	1,288	(246)	(187)
Income from discontinued operations, net of tax	$ (3,164)	$ 535	$ 281

- Definition

Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

Acquisitions (Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Nov. 08, 2016	Sep. 20, 2016	May 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 398,292	$ 303,887	$ 287,956
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Current assets	1,482	166
Preneed trust assets	15,891
Property, plant & equipment	21,680	17,543
Cemetery property	11,994
Goodwill	99,344	16,777
Intangible and other non-current assets	8,269	3,863
Assumed liabilities	(657)	(399)
Preneed trust liabilities	(15,463)
Deferred revenue	(1,633)
Purchase price	$ 140,907	$ 37,950
Stafford, Virginia [Member]
Business Acquisition [Line Items]
Assets Acquired (Excluding Goodwill)						$ 13,210
Goodwill						15,990
Assumed liabilities						$ 0
Cookeville, Tennessee [Member]
Business Acquisition [Line Items]
Assets Acquired (Excluding Goodwill)					$ 2,412
Goodwill					527
Assumed liabilities					$ (189)
Knightdale, North Carolina [Member]
Business Acquisition [Line Items]
Assets Acquired (Excluding Goodwill)				$ 5,950
Goodwill				260
Assumed liabilities				$ (210)

Stockholders' Equity Stockholders' Equity (Summary of unvested restricted stock awards) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Awards (in shares)	25,550	86,260	27,250
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at beginning of year (in shares)	89,000
Awards (in shares)	26,000
Vestings (in shares)	(33,000)
Cancellations (in shares)	(12,000)
Unvested at end of year (in shares)	70,000	89,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Unvested at beginning of year ( in usd per share)	$ 25.38
Awards ( in usd per share)	19.94
Vestings ( in usd per share)	25.19
Cancellations ( in usd per share)	24.84
Unvested at beginning of year ( in usd per share)	$ 23.56	$ 25.38

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

QUARTERLY FINANCIAL DATA (UNAUDITED)

The tables below set forth consolidated operating results by fiscal quarter for the years ended December 31, 2018 and 2019 (in thousands, except earnings per share):



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2019
Revenue	$	69,081	$	67,752	$	66,125	$	71,149
Gross profit	21,600		19,250		18,056		20,679
Net income	$	6,525	$	4,862	$	577	$	2,569
Basic earnings per common share: (a)	$	0.36	$	0.27	$	0.03	$	0.14
Diluted earnings per common share: (a)	$	0.36	$	0.27	$	0.03	$	0.14

2018
Revenue	$	73,387	$	63,847	$	64,241	$	66,517
Gross profit	24,188		16,825		17,114		17,820
Net income (loss)	$	9,356	$	2,747	$	2,200	$	(2,658	)
Basic earnings per common share: (a)	$	0.58	$	0.15	$	0.11	$	(0.14	)
Diluted earnings per common share: (a)	$	0.52	$	0.15	$	0.11	$	(0.14	)




(a)	Earnings per share are computed independently for each of the quarters presented. Therefore, the sum of the quarterly per share amounts may not equal the total computed for 2018 and 2019 due to rounding.

Income Taxes Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal statutory rate	$ 4,707	$ 3,834	$ 11,474
Federal statutory rate (as a percent)	21.00%	21.00%	35.00%
Effect of state income taxes, net of federal benefit	$ 1,352	$ 1,776	$ 1,304
Effect of state income taxes, net of federal benefit (as a percent)	6.00%	9.70%	4.00%
Effect of non-deductible expenses and other, net	$ 947	$ 1,451	$ (36)
Effectof non-deductible expenses and other, net (as a percent)	4.20%	7.90%	(0.10%)
Effective Income Tax Rate Reconciliation, Disposition of Business, Amount	$ 911	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Disposition of Business, Percent	4.10%	0.00%	0.00%
Change in valuation allowance	$ (34)	$ 26	$ 23
Change in valuation allowance (as a percent)	(0.20%)	0.10%	0.10%
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	$ 0	$ (466)	$ (17,176)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent	0.00%	(2.50%)	(52.40%)
Total income tax provision (benefit)	$ 7,883	$ 6,621	$ (4,411)
Income tax expense (benefit) (as a percent)	35.10%	36.20%	(13.50%)

Revenue From Contracts With Customers (Notes)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue From Contracts With Customers

REVENUE FROM CONTRACTS WITH CUSTOMERS

Revenue



For The Year Ended, December 31, 2019
	Funeral		Cemetery		Total
Services	$	131,636	$	10,918	$	142,554
Merchandise	75,682		7,665		83,347
Cemetery property	—		31,167		31,167
Other revenue	9,550		7,489		17,039
Total	$	216,868	$	57,239	$	274,107



For The Year Ended, December 31, 2018
	Funeral		Cemetery		Total
Services	$	127,262	$	11,342	$	138,604
Merchandise	74,644		8,158		82,802
Cemetery property	—		29,451		29,451
Other revenue	8,819		8,316		17,135
Total	$	210,725	$	57,267	$	267,992



For The Year Ended, December 31, 2017 ^(a)
	Funeral		Cemetery		Total
Services	$	120,827	$	11,765	$	132,592
Merchandise	71,573		8,187		79,760
Cemetery property	—		28,286		28,286
Other revenue	8,486		9,015		17,501
Total	$	200,886	$	57,253	$	258,139




(a)	The comparative information for year ended December 31, 2017 has not been adjusted to reflect the adoption of the revised revenue recognition standard and is reported in accordance with Accounting Standards Codification 605 (“ASC 605”).

Receivables from Preneed Trusts (Tables)

12 Months Ended

Dec. 31, 2019

Receivables From Preneed Trusts [Abstract]

Receivables from Preneed Funeral Trust Funds

As of December 31, 2018 and 2019, receivables from preneed trusts are as follows (in thousands):



	December 31, 2018			December 31, 2019
Preneed trust funds, at cost	$	17,601		$	18,581
Less: allowance for contract cancellation	(528		)	(557		)
Receivables from preneed trusts, net	$	17,073		$	18,024

Composition of Assets Held in Trust

Fair value includes unrealized gains and losses on trust assets.

The composition of the preneed trust funds at December 31, 2019 is as follows (in thousands):



	Historical Cost Basis		Fair Value
As of December 31, 2019
Cash and cash equivalents	$	4,533	$	4,533
Fixed income investments	11,603		11,603
Mutual funds and common stocks	2,440		2,518
Annuities	5		5
Total	$	18,581	$	18,659

The composition of the preneed trust funds at December 31, 2018 is as follows (in thousands):



	Historical Cost Basis		Fair Value
As of December 31, 2018
Cash and cash equivalents	$	4,172	$	4,172
Fixed income investments	10,668		10,668
Mutual funds and common stocks	2,755		2,709
Annuities	6		6
Total	$	17,601	$	17,555

Cemetery Perpetual Care Trust Investments (Estimated maturities of fixed perpetual care trust income securities) (Details) - Perpetual Care Trust Investments $ in Thousands	Dec. 31, 2019 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Due in one year or less	$ 0
Due in one to five years	3,130
Due in five to ten years	6,786
Thereafter	17,868
Total	$ 27,784

Preneed Trust Investments Preneed Trust Investments (Unrealized losses on cemetery merchandise and service trust investments) (Details) - Preneed Cemetery Trust Investments - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	$ 11,382	$ 31,502
Unrealized Losses, In Loss Position Less than12 months	(1,111)	(5,469)
Fair market value, In Loss Position Greater than12 months	9,858	6,346
Unrealized Losses, In Loss Position Greater than12 months	(3,161)	(2,664)
Fair market value, Total	21,240	37,848
Unrealized Losses, Total	(4,272)	(8,133)
Corporate debt
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	268	2,140
Unrealized Losses, In Loss Position Less than12 months	(42)	(245)
Fair market value, In Loss Position Greater than12 months	758	895
Unrealized Losses, In Loss Position Greater than12 months	(201)	(266)
Fair market value, Total	1,026	3,035
Unrealized Losses, Total	(243)	(511)
Preferred stock
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	1,368	9,918
Unrealized Losses, In Loss Position Less than12 months	(168)	(813)
Fair market value, In Loss Position Greater than12 months	4,520	443
Unrealized Losses, In Loss Position Greater than12 months	(481)	(213)
Fair market value, Total	5,888	10,361
Unrealized Losses, Total	(649)	(1,026)
Mortgage-backed securities
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	4,135	5,253
Unrealized Losses, In Loss Position Less than12 months	(164)	(399)
Fair market value, In Loss Position Greater than12 months	0	3,767
Unrealized Losses, In Loss Position Greater than12 months	0	(747)
Fair market value, Total	4,135	9,020
Unrealized Losses, Total	(164)	(1,146)
Mortgage-backed securities
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	0	0
Unrealized Losses, In Loss Position Less than12 months	0	0
Fair market value, In Loss Position Greater than12 months	402	51
Unrealized Losses, In Loss Position Greater than12 months	(114)	(14)
Fair market value, Total	402	51
Unrealized Losses, Total	(114)	(14)
Fixed Income
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	5,079	14,191
Unrealized Losses, In Loss Position Less than12 months	(652)	(4,012)
Fair market value, In Loss Position Greater than12 months	4,178	1,190
Unrealized Losses, In Loss Position Greater than12 months	(2,365)	(1,424)
Fair market value, Total	9,257	15,381
Unrealized Losses, Total	(3,017)	$ (5,436)
Mutual Fund [Member]
Gain (Loss) on Securities [Line Items]
Fair market value, In Loss Position Less than12 months	532
Unrealized Losses, In Loss Position Less than12 months	(85)
Fair market value, In Loss Position Greater than12 months	0
Unrealized Losses, In Loss Position Greater than12 months	0
Fair market value, Total	532
Unrealized Losses, Total	$ (85)

Contracts Secured by Insurance (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Contracts Secured by Insurance [Abstract]
Preneed funeral contracts secured by insurance	$ 408.8	$ 388.2

Stockholders' Equity Stockholders' Equity (Status of stock based compensation plans) (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance	2,801,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,848,000
Options Outstanding (in shares)	1,078,000	1,523,000	1,934,000	1,650,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	569,000
Amended And Restated 2006 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance	0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	0
Options Outstanding (in shares)	844,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	0
Cancellations (in shares)	1,246,000
2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance	2,801,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,848,000
Options Outstanding (in shares)	234,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	569,000

Preneed Trust Investments (Components of preneed cemetery trust investments) (Details) - Preneed Cemetery Trust Investments - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Preneed cemetery trust investments, at market value	$ 74,572	$ 64,549
Less: allowance for contract cancellation	(2,190)	(2,117)
Available-for-sale securities, current	$ 72,382	$ 62,432