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Recently Issued Accounting Standards	6 Months Ended
Recently Issued Accounting Standards	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS Segment Reporting In November 2023, the FASB issued ASU, Segment Reporting - Improvements to Reportable Segment Disclosures (“Topic 280”) to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update require that a public entity disclose, on an annual and interim basis (1) significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss; and (2) an amount for other segment items, as described in the amendments, by reportable segment and a description of its composition. Additionally, the amendments require that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and therefore were effective for us for our fiscal year beginning January 1, 2024 and for interim periods within our fiscal year beginning January 1, 2025. We expect the adoption will have no impact on our Consolidated Financial Statements. Accounting Pronouncements Not Yet Adopted Income Taxes In December 2023, the FASB issued ASU, Income Taxes - Improvements to Income Tax Disclosures (“Topic 740”) to enhance the transparency about income tax information through improvements to income tax disclosures primarily related to rate reconciliation and income taxes paid information. The amendments in this update require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation; and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than five percent of the amount computed by multiplying pretax income (loss) by the applicable statutory income tax rate). The amendments in this update also require that all entities disclose on an annual basis (1) the amount of net income taxes paid disaggregated by federal and state taxes; and (2) the amount of net income taxes paid disaggregated by individual jurisdictions in which net income taxes paid is equal to or greater than five percent of total net income taxes paid. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. We plan to adopt the amendments of Topic 740 for our fiscal year beginning January 1, 2025. We expect the adoption will have no impact on our Consolidated Financial Statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Credit Facility and Acquisition Debt

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Credit Facility and Acquisition Debt

CREDIT FACILITY AND ACQUISITION DEBT

At June 30, 2024, our senior secured revolving credit facility (the “Credit Facility”) was comprised of: (i) a $250.0 million revolving credit facility, including 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 aggregate in the form of increased revolving commitments or incremental term loans. The final maturity of the Credit Facility will occur on May 13, 2026. See Note 18 to the Consolidated Financial Statements for more information on the Credit Facility.

Our 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 12) and certain of our subsequently acquired or organized domestic subsidiaries (collectively, the “Subsidiary Guarantors”).

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, and the maintenance of property and insurance, among 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 Subsidiary Guarantors to incur indebtedness, grant liens, make investments, engage in mergers and acquisitions, pay dividends and make other restricted payments, and certain financial maintenance covenants. At June 30, 2024, we were subject to the following financial covenants under our Credit Facility: (A) a Total Leverage Ratio not to exceed 5.50 to 1.00 and (B) 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. These financial maintenance covenants are calculated for the Company and its subsidiaries on a consolidated basis. We were in compliance with all of the covenants contained in our Credit Facility at June 30, 2024.

Our Credit Facility and acquisition debt consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Credit Facility	$	155,000	$	179,100
Debt issuance costs, net of accumulated amortization of $2,754 and $2,478, respectively	(1,030)		(1,306)
Total Credit Facility	$	153,970	$	177,794

Acquisition debt	$	5,959	$	5,998
Less: current portion	(571)		(537)
Total acquisition debt, net of current portion	$	5,388	$	5,461

At June 30, 2024, we had outstanding borrowings under the Credit Facility of $155.0 million. We also had one letter of credit for $2.6 million under the Credit Facility. The letter of credit will expire on November 25, 2024 and is expected to

automatically renew annually and secures our obligations under our various self-insured policies. At June 30, 2024, we had $92.4 million of availability under the Credit Facility.

The interest expense and amortization of debt issuance costs related to our Credit Facility are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Credit Facility interest expense	$	3,523	$	4,668	$	7,439	$	8,479
Credit Facility amortization of debt issuance costs	138		138		276		276

At June 30, 2024, our outstanding borrowings under our Credit Facility bore interest at a prime rate or the Bloomberg Short-Term Bank Yield Index (“BSBY”) rate, plus an applicable margin based on our leverage ratio. At June 30, 2024, the prime rate margin was equivalent to 2.125% and the BSBY rate margin was 3.125%. The weighted average interest rate on our Credit Facility was 8.7% and 8.6% for the three months ended June 30, 2024 and 2023, respectively, and 8.8% and 8.3% for the six months ended June 30, 2024 and 2023, 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 6.5% to 7.3%. Original maturities range from nine to twenty years.

The imputed interest expense related to our acquisition debt is as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Acquisition debt imputed interest expense	$	103	$	71	$	207	$	142

Receivables Amortized cost basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
2024	$ 27,655
2023	27,698
2022	16,244
2021	7,837
2020	3,062
Prior	1,884
Receivables From Preneed Funeral Trust Gross	$ 84,380	$ 72,086

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Disaggregation of Revenue

Revenue, disaggregated by major source for each of our reportable segments was as follows (in thousands):


Three months ended June 30, 2024
	Funeral		Cemetery		Total
Services	$	39,589	$	4,844	$	44,433
Merchandise	19,664		4,483		24,147
Cemetery property	—		25,443		25,443
Other revenue	4,342		3,953		8,295
Total	$	63,595	$	38,723	$	102,318


Three months ended June 30, 2023
	Funeral		Cemetery		Total
Services	$	39,799	$	4,723	$	44,522
Merchandise	21,211		4,244		25,455
Cemetery property	—		20,175		20,175
Other revenue	3,495		4,031		7,526
Total	$	64,505	$	33,173	$	97,678


Six months ended June 30, 2024
	Funeral		Cemetery		Total
Services	$	84,396	$	9,736	$	94,132
Merchandise	42,323		8,623		50,946
Cemetery property	—		44,146		44,146
Other revenue	8,707		7,880		16,587
Total	$	135,426	$	70,385	$	205,811


Six months ended June 30, 2023
	Funeral		Cemetery		Total
Services	$	83,401	$	9,328	$	92,729
Merchandise	44,180		8,178		52,358
Cemetery property	—		33,283		33,283
Other revenue	7,009		7,813		14,822
Total	$	134,590	$	58,602	$	193,192

Revenue, pre-tax income and total and total assets by segments

The following table presents operating income (loss), income (loss) before income taxes and total assets (in thousands):


	Funeral		Cemetery		Corporate		Consolidated



Operating income (loss):
Three months ended June 30, 2024	$	20,759	$	16,203	$	(18,593)	$	18,369
Three months ended June 30, 2023	17,898		13,039		(10,199)		20,738

Six months ended June 30, 2024	$	43,833	$	28,845	$	(34,832)	$	37,846
Six months ended June 30, 2023	40,091		21,651		(20,370)		41,372

Income (loss) before income taxes:
Three months ended June 30, 2024	$	21,024	$	16,303	$	(26,868)	$	10,459
Three months ended June 30, 2023	18,112		13,183		(19,593)		11,702

Six months ended June 30, 2024	$	43,892	$	29,013	$	(51,724)	$	21,181
Six months ended June 30, 2023	40,446		21,854		(38,252)		24,048

Total assets:
June 30, 2024	$	787,166	$	463,205	$	18,895	$	1,269,266
December 31, 2023	802,368		448,018		17,666		1,268,052

Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

18. SUBSEQUENT EVENTS

Credit Facility Amendment

On July 31, 2024, the Company entered into a fourth amendment, (the “Credit Facility Amendment”), to our Credit Facility, with the financial institutions party thereto, as lenders, and Bank of America, N.A., as administrative agent. The Credit Facility Amendment provided, among other things, for (i) the extension of the maturity date of the Credit Facility to July 31, 2029, provided that, if the Senior Notes (as defined in the Credit Facility) have a stated maturity date that is prior to July 31, 2029, then the maturity date shall instead be the date that is 91 days prior to the stated maturity date of the Senior Notes; (ii) the establishment of Term Secured Overnight Financing Rate (“SOFR”) as a benchmark rate and the removal of BSBY from the Credit Facility, including conforming revisions to certain defined terms under the Credit Facility; (iii) the conversion of each existing BSBY Rate Loan (as defined in the Credit Facility prior to giving effect to the Credit Facility Amendment) to a Term SOFR Loan (as defined in the Credit Facility); (iv) modifications to the definitions of “Applicable Rate” and “Applicable Fee

Rate” to change the applicable rates and pricing levels set forth in each pricing grid; (v) the removal of certain mandatory prepayments arising from the issuance of either Equity Interests or Debt (as both are defined by the Credit Facility); and (vi) modifications to the permitted investments covenant, relating to the Company’s ability to make certain acquisitions, subject to the satisfaction of certain conditions therein.

As of the effective date of the Credit Facility, as amended, and through and including the date the Company’s compliance certificate is delivered for the fiscal quarter ending June 30, 2024, interest accrues on amounts outstanding under the Credit Facility based on Pricing Level 4 set forth below, and thereafter based on the Company’s Total Leverage Ratio (as defined in the Credit Facility), in accordance with the following pricing grid:


Applicable Rate
Pricing Level	Total Leverage Ratio	Term SOFR / Letter of Credit Fees	Base Rate
1	< 3.00:1.00	1.625%	0.625%
2	< 3.50:1.00 but ≥ 3.00:1.00	1.875%	0.875%
3	< 4.25:1.00 but ≥ 3.50:1.00	2.125%	1.125%
4	≥ 4.25:1.00	2.500%	1.500%

Immediately after giving effect to the amended Credit Facility on July 31, 2024, the Company had borrowings of approximately $151.0 million in principal amount outstanding and had approximately $96.4 million available for additional borrowing under the Credit Facility after giving effect to approximately $2.6 million of outstanding letters of credit.

Stockholders' Equity (Weighted Average Assumptions) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield				1.84%
Expected volatility				41.15%
Risk-free interest rate	5.02%	5.24%	5.46%
Expected holding period (years)	9 months	6 months	3 months
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield				1.79%
Expected volatility				43.59%
Risk-free interest rate				4.31%
Expected holding period (years)				6 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				370,590
Stock options \| Black-Scholes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				370,590	214,191
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Options, Grants in Period, Aggregate Grant Date Market Value				$ 3,830	$ 2,506

Trust Investments (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Preneed Cemetery Trust Investments
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 107,696	$ 102,879
Preneed Funeral Trust Investments
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 116,501	$ 113,499

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Credit Facility and Acquisition Debt - Credit Facility (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Amortization of Debt Issuance Costs			$ 352	$ 349
Credit Agreement
Debt Instrument [Line Items]
Acquisition debt imputed interest expense	$ 3,523	$ 4,668	7,439	8,479
Line of Credit
Debt Instrument [Line Items]
Amortization of Debt Issuance Costs	$ 138	$ 138
Credit Agreement 2018 \| Revolving Credit Facility
Debt Instrument [Line Items]
Amortization of Debt Issuance Costs			$ 276	$ 276

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 69B
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1B
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Subparagraph (c)
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Reference 11: http://www.xbrl.org/2003/role/exampleRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
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-Section 50
-Paragraph 1B
-Subparagraph (e)
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Trust Investments (Cost and fair market values associated with preneed cemetery trust investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Preneed Cemetery Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Total	$ 107,696	$ 102,879
Unrealized Gains	5,582	11,679
Unrealized Losses	(10,518)	(16,031)
Fair Market Value	102,760	98,527
Preneed cemetery trust investments	$ 103,516	$ 99,461
Preneed cemetery trust investments, fair market value as a percentage of cost (in Percent)	95.40%	95.80%
Preneed Cemetery Trust Investments \| Accrued investment income
Debt and Equity Securities, FV-NI [Line Items]
Total	$ 756	$ 934
Fair Market Value	756	934
Preneed Funeral Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Total	116,501	113,499
Unrealized Gains	4,956	10,938
Unrealized Losses	(8,931)	(14,042)
Fair Market Value	112,526	110,395
Preneed cemetery trust investments	$ 113,196	$ 111,247
Preneed cemetery trust investments, fair market value as a percentage of cost (in Percent)	96.60%	97.30%
Preneed Funeral Trust Investments \| Accrued investment income
Debt and Equity Securities, FV-NI [Line Items]
Total	$ 670	$ 852
Fair Market Value	670	852
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Cash and money market accounts
Debt and Equity Securities, FV-NI [Line Items]
Total	20,809	9,643
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	20,809	9,643
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Common stock
Debt and Equity Securities, FV-NI [Line Items]
Total	32,774	43,057
Unrealized Gains	2,868	9,466
Unrealized Losses	(3,265)	(7,935)
Fair Market Value	32,377	44,588
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Limited partnership fund
Debt and Equity Securities, FV-NI [Line Items]
Total	3,675	3,575
Unrealized Gains	410	0
Unrealized Losses	0	(3)
Fair Market Value	4,085	3,572
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Total		553
Unrealized Gains		10
Unrealized Losses		(30)
Fair Market Value		533
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Cash and money market accounts
Debt and Equity Securities, FV-NI [Line Items]
Total	38,395	26,707
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	38,395	26,707
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Common stock
Debt and Equity Securities, FV-NI [Line Items]
Total	28,205	38,600
Unrealized Gains	2,505	8,858
Unrealized Losses	(2,624)	(6,855)
Fair Market Value	28,086	40,603
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Limited partnership fund
Debt and Equity Securities, FV-NI [Line Items]
Total	3,365	3,383
Unrealized Gains	375	0
Unrealized Losses	0	(2)
Fair Market Value	3,740	3,381
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Total		401
Unrealized Gains		3
Unrealized Losses		(29)
Fair Market Value		375
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| U.S. agency obligations
Debt and Equity Securities, FV-NI [Line Items]
Total	665	803
Unrealized Gains	0	1
Unrealized Losses	(55)	(51)
Fair Market Value	610	753
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Foreign debt
Debt and Equity Securities, FV-NI [Line Items]
Total	8,914	7,764
Unrealized Gains	1,464	1,371
Unrealized Losses	(11)	(17)
Fair Market Value	10,367	9,118
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Corporate debt
Debt and Equity Securities, FV-NI [Line Items]
Total	14,280	15,071
Unrealized Gains	210	342
Unrealized Losses	(2,897)	(3,657)
Fair Market Value	11,593	11,756
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Total	11,477	10,965
Unrealized Gains	503	473
Unrealized Losses	(1,788)	(1,572)
Fair Market Value	10,192	9,866
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Total	79	79
Unrealized Gains	0	0
Unrealized Losses	(7)	(7)
Fair Market Value	72	72
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Total	944
Unrealized Gains	71
Unrealized Losses	(5)
Fair Market Value	1,010
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Fixed income
Debt and Equity Securities, FV-NI [Line Items]
Total	14,079	11,369
Unrealized Gains	56	16
Unrealized Losses	(2,490)	(2,759)
Fair Market Value	11,645	8,626
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Foreign debt
Debt and Equity Securities, FV-NI [Line Items]
Total	8,115	7,300
Unrealized Gains	1,340	1,297
Unrealized Losses	(10)	(16)
Fair Market Value	9,445	8,581
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Corporate debt
Debt and Equity Securities, FV-NI [Line Items]
Total	12,857	13,848
Unrealized Gains	192	323
Unrealized Losses	(2,545)	(3,255)
Fair Market Value	10,504	10,916
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Total	10,144	9,786
Unrealized Gains	461	442
Unrealized Losses	(1,611)	(1,468)
Fair Market Value	8,994	$ 8,760
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Total	757
Unrealized Gains	35
Unrealized Losses	(5)
Fair Market Value	$ 787

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

LEASES

Our lease obligations consist of operating and finance leases related to real estate, vehicles and equipment. The components of lease cost are as follows (in thousands):


		Three months ended June 30,				Six months ended June 30,
	Income Statement Classification	2024		2023		2024		2023
Operating lease cost	Facilities and grounds expense(1)	$	999	$	917	$	1,977	$	1,792
Short-term lease cost	Facilities and grounds expense(1)	76		92		94		186
Variable lease cost	Facilities and grounds expense(1)	88		56		192		114

Finance lease cost:
Depreciation of leased assets	Depreciation and amortization(2)	$	126	$	109	$	252	$	217
Interest on lease liabilities	Interest expense	122		103		247		208
Total finance lease cost		248		212		499		425
Total lease cost		$	1,411	$	1,277	$	2,762	$	2,517



(1)			Facilities and grounds expense is included within Cost of service and General, administrative and other on our Consolidated Statements of Operations.
(2)			Depreciation and amortization expense is included within Field depreciation expense and General, administrative and other on our Consolidated Statements of Operations.

Supplemental cash flow information related to our leases is as follows (in thousands):


	Six months ended June 30,
	2024		2023
Cash paid for operating leases included in operating activities	$	2,149	$	1,934
Cash paid for finance leases included in financing activities	546		447

Right-of-use assets obtained in exchange for new leases is as follows (in thousands):


	Six months ended June 30,
	2024		2023
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,023	$	1,067
Right-of-use assets obtained in exchange for new finance lease liabilities	—		—

Supplemental balance sheet information related to leases is as follows (in thousands):


Lease Type	Balance Sheet Classification	June 30, 2024		December 31, 2023
Operating lease right-of-use assets	Operating lease right-of-use assets	$	16,058	$	16,295

Finance lease right-of-use assets	Property, plant and equipment, net	$	7,870	$	8,249
Accumulated depreciation	Property, plant and equipment, net	(3,288)		(3,059)
Finance lease right-of-use assets, net		$	4,582	$	5,190

Operating lease current liabilities	Current portion of operating lease obligations	$	2,843	$	2,713
Finance lease current liabilities	Current portion of finance lease obligations	510		592
Total current lease liabilities		$	3,353	$	3,305

Operating lease non-current liabilities	Obligations under operating leases, net of current portion	$	15,263	$	15,797
Finance lease non-current liabilities	Obligations under finance leases, net of current portion	5,304		5,831
Total non-current lease liabilities		$	20,567	$	21,628

Total lease liabilities		$	23,920	$	24,933

The average lease terms and discount rates at June 30, 2024 are as follows:


	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	7.5	8.1	%
Finance leases	10.2	8.3	%

The aggregate future lease payments for non-cancelable operating and finance leases at June 30, 2024 are as follows (in thousands):


	Operating		Finance
Lease payments due:
Remainder of 2024	$	2,158	$	506
2025	4,006		964
2026	3,870		974
2027	3,627		974
2028	3,344		723
Thereafter	6,867		4,512
Total lease payments	23,872		8,653
Less: Interest	(5,766)		(2,839)
Present value of lease liabilities	$	18,106	$	5,814

At June 30, 2024, we had no significant operating or finance leases that had not yet commenced.

Leases

LEASES

Our lease obligations consist of operating and finance leases related to real estate, vehicles and equipment. The components of lease cost are as follows (in thousands):


		Three months ended June 30,				Six months ended June 30,
	Income Statement Classification	2024		2023		2024		2023
Operating lease cost	Facilities and grounds expense(1)	$	999	$	917	$	1,977	$	1,792
Short-term lease cost	Facilities and grounds expense(1)	76		92		94		186
Variable lease cost	Facilities and grounds expense(1)	88		56		192		114

Finance lease cost:
Depreciation of leased assets	Depreciation and amortization(2)	$	126	$	109	$	252	$	217
Interest on lease liabilities	Interest expense	122		103		247		208
Total finance lease cost		248		212		499		425
Total lease cost		$	1,411	$	1,277	$	2,762	$	2,517



(1)			Facilities and grounds expense is included within Cost of service and General, administrative and other on our Consolidated Statements of Operations.
(2)			Depreciation and amortization expense is included within Field depreciation expense and General, administrative and other on our Consolidated Statements of Operations.

Supplemental cash flow information related to our leases is as follows (in thousands):


	Six months ended June 30,
	2024		2023
Cash paid for operating leases included in operating activities	$	2,149	$	1,934
Cash paid for finance leases included in financing activities	546		447

Right-of-use assets obtained in exchange for new leases is as follows (in thousands):


	Six months ended June 30,
	2024		2023
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,023	$	1,067
Right-of-use assets obtained in exchange for new finance lease liabilities	—		—

Supplemental balance sheet information related to leases is as follows (in thousands):


Lease Type	Balance Sheet Classification	June 30, 2024		December 31, 2023
Operating lease right-of-use assets	Operating lease right-of-use assets	$	16,058	$	16,295

Finance lease right-of-use assets	Property, plant and equipment, net	$	7,870	$	8,249
Accumulated depreciation	Property, plant and equipment, net	(3,288)		(3,059)
Finance lease right-of-use assets, net		$	4,582	$	5,190

Operating lease current liabilities	Current portion of operating lease obligations	$	2,843	$	2,713
Finance lease current liabilities	Current portion of finance lease obligations	510		592
Total current lease liabilities		$	3,353	$	3,305

Operating lease non-current liabilities	Obligations under operating leases, net of current portion	$	15,263	$	15,797
Finance lease non-current liabilities	Obligations under finance leases, net of current portion	5,304		5,831
Total non-current lease liabilities		$	20,567	$	21,628

Total lease liabilities		$	23,920	$	24,933

The average lease terms and discount rates at June 30, 2024 are as follows:


	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	7.5	8.1	%
Finance leases	10.2	8.3	%

The aggregate future lease payments for non-cancelable operating and finance leases at June 30, 2024 are as follows (in thousands):


	Operating		Finance
Lease payments due:
Remainder of 2024	$	2,158	$	506
2025	4,006		964
2026	3,870		974
2027	3,627		974
2028	3,344		723
Thereafter	6,867		4,512
Total lease payments	23,872		8,653
Less: Interest	(5,766)		(2,839)
Present value of lease liabilities	$	18,106	$	5,814

At June 30, 2024, we had no significant operating or finance leases that had not yet commenced.

Trust Investments (Purchases and sales of investments in the perpetual care trusts) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gain (Loss) on Securities [Line Items]
Purchases	$ 2,310	$ 5,464	$ 6,711	$ 9,113
Sales	$ 8,694	$ 4,469	$ 10,904	$ 19,130

Trust Investments (Components of preneed funeral trust investments) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Preneed funeral trust investments, at market value	$ 113,196	$ 111,247
Less: allowance for contract cancellation	(3,495)	(3,405)
Preneed funeral trust investments	$ 109,701	$ 107,842

Business Combinations

6 Months Ended

Jun. 30, 2024

Business Combinations [Abstract]

Business Combinations

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 measurement period, we may adjust goodwill, intangible assets, assets or liabilities associated with the acquisition.

We did not acquire any businesses during the three and six months ended June 30, 2024. On March 22, 2023, we acquired a business consisting of three funeral homes, two cemeteries and one cremation focused business in the Bakersfield, CA area for $44.0 million in cash. We acquired substantially all of the assets and assumed certain operating liabilities of this business.

The pro forma impact of this acquisition on prior periods is not presented, as the impact is not significant to our reported results. The results of the acquired business are reflected in our Consolidated Statements of Operations from the date of acquisition.

The following table summarizes the breakdown of the purchase price allocation for our Bakersfield, CA business acquisition (in thousands):


	Initial Purchase Price Allocation		Adjustments		Adjusted Purchase Price Allocation
Current assets	$	7,087	$	131	$	7,218
Preneed trust assets	—		11,428		11,428
Property, plant & equipment	12,577		245		12,822
Cemetery property	9,035		—		9,035
Goodwill	13,612		(106)		13,506
Intangible and other non-current assets	3,763		—		3,763
Assumed liabilities	(300)		(66)		(366)

Preneed trust liabilities	—		(11,428)		(11,428)
Deferred revenue	(1,774)		(204)		(1,978)
Purchase price	$	44,000	$	—	$	44,000

The current assets relate to accounts receivable and inventory. The intangible and other non-current assets relate to the fair value of tradenames and right-of-use operating lease assets. The assumed liabilities relate to operating lease obligations and commissions payable. As of December 31, 2023, our accounting for this acquisition was complete.

The following table summarizes the fair value of the assets acquired and liabilities assumed for this business (in thousands):


Acquisition Date	Type of Business	Market	Assets Acquired (Excluding Goodwill)		Goodwill Recorded		Liabilities and Debt Assumed
March 22, 2023	Three Funeral Homes, Two Cemeteries and One Cremation Focused Business	Bakersfield, CA	$	44,266	$	13,506	$	(13,772)

Earnings Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

The following table sets forth the computation of the basic and diluted earnings per share (in thousands, except per share data):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Numerator for basic and diluted earnings per share:
Net income	$	6,259	$	8,286	$	13,232	$	17,130
Less: Earnings allocated to unvested restricted stock	(93)		(79)		(194)		(150)
Income attributable to common stockholders	$	6,166	$	8,207	$	13,038	$	16,980

Denominator:
Denominator for basic earnings per common share – weighted average shares outstanding	14,965		14,793		14,920		14,776
Effect of dilutive securities:
Stock options	22		50		20		74

Performance awards	416		611		416		611
Denominator for diluted earnings per common share – weighted average shares outstanding	15,403		15,454		15,356		15,461

Basic earnings per common share:	$	0.41	$	0.55	$	0.87	$	1.14
Diluted earnings per common share:	$	0.40	$	0.53	$	0.85	$	1.10

Stock options excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect are as follows (in thousands):


	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
Antidilutive stock options	1,433	1,236	1,456	1,183

Our performance awards are considered to be contingently issuable shares because their issuance is contingent upon the satisfaction of certain performance and service conditions. At June 30, 2024, we had satisfied certain performance criteria for the first, second and third predetermined growth targets of our performance awards to be considered outstanding. Therefore, we included these awards in the computation of diluted earnings per share as of the beginning of the reporting period.

Leases - Maturities of Operating and Financing Lease Liabilities (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Operating
Remainder of 2024	$ 2,158
2025	4,006
2026	3,870
2027	3,627
2028	3,344
Thereafter	6,867
Total lease payments	23,872
Less: Interest	(5,766)
Present value of lease liabilities	18,106
Finance
Remainder of 2024	506
2025	964
2026	974
2027	974
2028	723
Thereafter	4,512
Total lease payments	8,653
Less: Interest	(2,839)
Present value of lease liabilities	$ 5,814

Trust Investments (Purchases and sales of investments in preneed cemetery trusts) (Details) - Preneed Cemetery Trust Investments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt and Equity Securities, FV-NI [Line Items]
Purchases	$ (2,784)	$ (6,784)	$ (9,138)	$ (11,110)
Sales	$ 2,817	$ 5,177	$ 5,862	$ 21,737

Segment Reporting Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenues	$ 102,318	$ 97,678	$ 205,811	$ 193,192
Services
Segment Reporting Information [Line Items]
Revenues	44,433	44,522	94,132	92,729
Merchandise
Segment Reporting Information [Line Items]
Revenues	24,147	25,455	50,946	52,358
Cemetery property
Segment Reporting Information [Line Items]
Revenues	25,443	20,175	44,146	33,283
Other revenue
Segment Reporting Information [Line Items]
Revenues	8,295	7,526	16,587	14,822
Funeral
Segment Reporting Information [Line Items]
Revenues	63,595	64,505	135,426	134,590
Funeral \| Services
Segment Reporting Information [Line Items]
Revenues	39,589	39,799	84,396	83,401
Funeral \| Merchandise
Segment Reporting Information [Line Items]
Revenues	19,664	21,211	42,323	44,180
Funeral \| Cemetery property
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Funeral \| Other revenue
Segment Reporting Information [Line Items]
Revenues	4,342	3,495	8,707	7,009
Cemetery
Segment Reporting Information [Line Items]
Revenues	38,723	33,173	70,385	58,602
Cemetery \| Services
Segment Reporting Information [Line Items]
Revenues	4,844	4,723	9,736	9,328
Cemetery \| Merchandise
Segment Reporting Information [Line Items]
Revenues	4,483	4,244	8,623	8,178
Cemetery \| Cemetery property
Segment Reporting Information [Line Items]
Revenues	25,443	20,175	44,146	33,283
Cemetery \| Other revenue
Segment Reporting Information [Line Items]
Revenues	$ 3,953	$ 4,031	$ 7,880	$ 7,813

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Subsequent Events (Details) - Subsequent Event - Line of Credit - Revolving Credit Facility, Secured, Floating Rate	Jul. 31, 2024
Level One
Subsequent Event [Line Items]
Ratio of indebtedness to net capital (in Ratio) (below at March 31, 2015)	3.00
Level Two \| Minimum
Subsequent Event [Line Items]
Ratio of indebtedness to net capital (in Ratio) (below at March 31, 2015)	3.00
Level Two \| Maximum
Subsequent Event [Line Items]
Ratio of indebtedness to net capital (in Ratio) (below at March 31, 2015)	3.50
Level Three \| Minimum
Subsequent Event [Line Items]
Ratio of indebtedness to net capital (in Ratio) (below at March 31, 2015)	3.50
Level Three \| Maximum
Subsequent Event [Line Items]
Ratio of indebtedness to net capital (in Ratio) (below at March 31, 2015)	4.25
Level Four
Subsequent Event [Line Items]
Ratio of indebtedness to net capital (in Ratio) (below at March 31, 2015)	4.25
Term SOFR / Letter Of Credit Fees \| Level One
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	162.50%
Term SOFR / Letter Of Credit Fees \| Level Two
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	187.50%
Term SOFR / Letter Of Credit Fees \| Level Three
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	212.50%
Term SOFR / Letter Of Credit Fees \| Level Four
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	250.00%
Base Rate \| Level One
Subsequent Event [Line Items]
Stated interest rate percentage	62.50%
Base Rate \| Level Two
Subsequent Event [Line Items]
Stated interest rate percentage	87.50%
Base Rate \| Level Three
Subsequent Event [Line Items]
Stated interest rate percentage	112.50%
Base Rate \| Level Four
Subsequent Event [Line Items]
Stated interest rate percentage	150.00%

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Director	Former Director	Common stock	Common stock Director	Common stock Former Director	Additional Paid-in Capital	Additional Paid-in Capital Director	Additional Paid-in Capital Former Director	Retained Earnings	Treasury Stock, Common
Beginning balance, shares outstanding at Dec. 31, 2022				14,732,000
Stockholders' equity, beginning balance at Dec. 31, 2022	$ 137,134			$ 264			$ 238,780			$ 176,843	$ (278,753)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 17,130									17,130
Issuance of common stock from employee stock purchase plan, shares	38,042			38,000
Issuance of common stock from employee stock purchase plan	$ 923						923
Isuuance of common stock, shares					6,000
Issuance of common stock	826	$ 177					826	$ 177
Issuance of restricted common stock, shares				142,000
Issuance of restricted common stock	0			$ 2			(2)
Exercise of stock options, shares				5,000
Exercise of stock options	(41)						(41)
Cancellation and retirement of restricted common stock, shares				(3,000)
Cancellation and surrender of restricted common stock	(78)						(78)
Stock-based compensation expense	3,160						3,160
Dividends on common stock	(3,340)						(3,340)
Other, shares				8,000
Other	276						276
Ending balance, shares outstanding at Jun. 30, 2023				14,958,000
Stockholders' equity, ending balance at Jun. 30, 2023	156,167			$ 266			240,681			193,973	(278,753)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares				30,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	147,162			$ 266			239,962			185,687	(278,753)
Beginning balance, shares outstanding at Mar. 31, 2023				14,935,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 8,286
Issuance of common stock from employee stock purchase plan, shares	16,386
Isuuance of common stock, shares				16,000	2,000
Issuance of common stock	$ 397	65					397	65
Exercise of stock options, shares				4,000
Exercise of stock options	(20)						(20)
Cancellation and retirement of restricted common stock, shares				1,000
Cancellation and surrender of restricted common stock	(1)						(1)
Stock-based compensation expense	1,957						1,957
Dividends on common stock	(1,679)						(1,679)
Ending balance, shares outstanding at Jun. 30, 2023				14,958,000
Stockholders' equity, ending balance at Jun. 30, 2023	156,167			$ 266			240,681			193,973	(278,753)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	8,286									8,286
Beginning balance, shares outstanding at Dec. 31, 2023				15,000,000
Stockholders' equity, beginning balance at Dec. 31, 2023	173,060			$ 266			241,291			210,256	(278,753)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 13,232									13,232
Issuance of common stock from employee stock purchase plan, shares	31,566			31,000
Issuance of common stock from employee stock purchase plan	$ 671						671
Isuuance of common stock, shares					10,000	0
Issuance of common stock		264	$ 0					264	$ 0
Issuance of restricted common stock, shares				157,000
Issuance of restricted common stock	0			$ 2			(2)
Exercise of stock options, shares				50,000
Exercise of stock options	1,272			$ 1			1,271
Cancellation and retirement of restricted common stock, shares				(43,000)
Cancellation and surrender of restricted common stock	(419)						(419)
Stock-based compensation expense	2,407						2,407
Dividends on common stock	(3,390)						(3,390)
Other, shares				31,000
Other	790						790
Ending balance, shares outstanding at Jun. 30, 2024				15,236,000
Stockholders' equity, ending balance at Jun. 30, 2024	187,887			$ 269			242,883			223,488	(278,753)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	179,555			$ 268			240,811			217,229	(278,753)
Beginning balance, shares outstanding at Mar. 31, 2024				15,165,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 6,259
Issuance of common stock from employee stock purchase plan, shares	15,270
Isuuance of common stock, shares				15,000	6,000
Issuance of common stock	$ 324	$ 151					324	$ 151
Exercise of stock options, shares				50,000
Exercise of stock options	1,272			$ 1			1,271
Cancellation and surrender of restricted common stock	(1)						(1)
Stock-based compensation expense	2,031						2,031
Dividends on common stock	(1,704)						(1,704)
Ending balance, shares outstanding at Jun. 30, 2024				15,236,000
Stockholders' equity, ending balance at Jun. 30, 2024	187,887			$ 269			$ 242,883			223,488	$ (278,753)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 6,259									$ 6,259

Receivables (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
Receivables (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 1,589		$ 1,506
Unearned finance charges associated with receivables	6,466		5,669
Provision for credit losses	$ 1,447	$ 1,344
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Service Contract, Term	8 years
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Service Contract, Term	10 years
Preneed Cemetery Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 2,257		2,255
Provision for credit losses	513
Funeral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	355		266
Balances due on undelivered cemetery preneed contracts	10,800		10,700
Cemetery
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	1,234		1,240
Balances due on undelivered cemetery preneed contracts	$ 14,600		$ 15,800

Divested Operations

6 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Divested Operations

DIVESTED OPERATIONS

During the three months ended June 30, 2024, we merged one funeral home with another business we own in an existing market. During the six months ended June 30, 2024, we sold six funeral homes and one cemetery for an aggregate of $10.9 million and merged one funeral home with another business we own in an existing market.

During the three months ended June 30, 2023, we merged one funeral home with another business we own in an existing market. During the six months ended June 30, 2023, we sold one funeral home and two cemeteries for an aggregate of $0.8 million and merged one funeral home with another business we own in an existing market .

The operating results of these divested funeral homes and cemeteries are reflected on our Consolidated Statements of Operations as shown in the table below (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Revenue	$	121	$	—	$	1,272	$	66

Operating income (loss)	33		(2)		151		24
Loss on divestitures(1)	(8)		—		(1,509)		(82)
Income tax (expense) benefit	(8)		1		451		17
Net gain (loss) from divested operations, after tax	$	17	$	(1)	$	(907)	$	(41)

(1)

Loss on divestitures is recorded in Net loss on divestitures, disposals and impairments charges on our Consolidated Statements of Operations.

Stockholders' Equity Cash Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended		6 Months Ended
	Jun. 01, 2024	Mar. 01, 2024	Jun. 01, 2023	Mar. 01, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Equity [Abstract]
Dividends declared per common share (in dollars per Share)	$ 0.1125	$ 0.1125	$ 0.1125	$ 0.1125	$ 0.1125	$ 0.1125	$ 0.2250	$ 0.2250
Dividends	$ 1,704	$ 1,686	$ 1,679	$ 1,661

Trust Investments (Estimated maturities of the fixed income securities) (Details) - Perpetual Care Trust Invesments $ in Thousands	Jun. 30, 2024 USD ($)
Gain (Loss) on Securities [Line Items]
Due in one year or less	$ 0
Due in one to five years	10,739
Due in five to ten years	881
Thereafter	15,594
Total	$ 27,214

Trust Investments (Components of preneed cemetery trust investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Preneed cemetery trust investments	$ 100,285	$ 96,374
Preneed Cemetery Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Preneed cemetery trust investments, at market value	103,516	99,461
Less: allowance for contract cancellation	(3,231)	(3,087)
Preneed cemetery trust investments	$ 100,285	$ 96,374

Business Combinations (Assets Acquired) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Mar. 22, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill Recorded	$ 414,895	$ 423,643		$ 410,137
Series of Individually Immaterial Business Acquisitions \| Bakersfield, California
Business Acquisition [Line Items]
Assets Acquired (Excluding Goodwill)			$ 44,266,000
Goodwill Recorded			13,506,000
Liabilities and Debt Assumed			$ (13,772,000)

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Subsequent Events - Narrative (Details) - USD ($) $ in Thousands	Jul. 07, 2023	Jul. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Deferred payments	$ 2,600
Revolving Credit Facility \| Credit Agreement 2018
Subsequent Event [Line Items]
Long-term Debt			$ 155,000	$ 179,100
Revolving Credit Facility \| Credit Agreement 2018 \| Subsequent Event
Subsequent Event [Line Items]
Long-term Debt		$ 151,000
Revolving Credit Facility, Secured, Floating Rate \| Line of Credit \| Revolving Credit Facility
Subsequent Event [Line Items]
Remaining borrowing capacity			$ 92,400
Revolving Credit Facility, Secured, Floating Rate \| Line of Credit \| Revolving Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Remaining borrowing capacity		$ 96,400

Supplementary Data (Details) - USD ($) $ in Thousands	6 Months Ended
Supplementary Data (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Other current assets:
Prepaid expenses	$ 3,135		$ 3,779
Other current assets	136		137
Total other current assets	3,965		4,791
Acquisition debt	571		537
Finance lease obligations	510		592
Operating lease obligations	2,843		2,713
Total current portion of debt and lease obligations	3,924		3,842
Accrued liabilities:
Accrued incentive compensation	7,075		13,156
Accrued insurance	3,186		3,017
Unrecognized tax benefit	3,427		3,382
Accrued vacation	3,702		3,647
Accrued interest	2,362		2,409
Accrued salaries and wages	5,226		2,285
Employee meetings and award trips	870		1,185
Accrued commissions	1,195		1,144
Accrued ad valorem and franchise taxes	1,785		2,395
Other accrued liabilities	361		1,358
Federal income taxes payable	1,466		1,384
Total accrued liabilities	30,655		35,362
Other long-term liabilities:
Incentive compensation	1,162		1,855
Other long-term liabilities	695		0
Total other long-term liabilities	1,857		1,855
Cash paid for interest	16,258	$ 17,056
Cash paid for taxes	9,200	$ 7,329
Federal income taxes receivable
Other current assets:
Income taxes receivable	316		454
State income taxes receivable
Other current assets:
Income taxes receivable	$ 378		$ 421

Trust Investments (Estimated maturities of fixed preneed cemetery trust income securities) (Details) - Preneed Cemetery Trust Investments $ in Thousands	Jun. 30, 2024 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Due in one year or less	$ 137
Due in one to five years	13,451
Due in five to ten years	939
Thereafter	18,307
Total	$ 32,834

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS We evaluated our financial assets and liabilities for those that met the criteria of the disclosure requirements and fair value framework. The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate the fair values of those instruments due to the short-term nature of the instruments. The fair values of our receivables on preneed 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 acquisition debt and Credit Facility (as defined in Note 11) and Senior Notes (as defined in Note 12) are classified within Level 2 of the Fair Value Measurements hierarchy. At June 30, 2024, the carrying value and fair value of our Credit Facility was $155.0 million. We believe that our Credit Facility bears interest at a rate that approximates prevailing market rates for instruments with similar characteristics and therefore, the carrying value of our Credit Facility approximates fair value. We estimate the fair value of our acquisition debt utilizing an income approach, which uses a present value calculation to discount payments based on current market rates as of the reporting date. At June 30, 2024, the carrying value of our acquisition debt was $6.0 million, which approximated its fair value. The fair value of our Senior Notes was $357.0 million at June 30, 2024 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. 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 inputs other than quoted prices that can corroborate observable market data. These investments are fixed income securities, including U.S. agency obligations, foreign debt, corporate debt, preferred stocks, certificates of deposit and fixed income mutual funds and other investments, all of which are classified within Level 2 of the valuation hierarchy. In addition, we have an investment in a limited partnership fund, whose fair value has been estimated using the net asset value per share practical expedient described in ASC 820-10-35-59, Fair Value Measurement of Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) and therefore, has not been classified in the fair value hierarchy. The investment strategy of this fund is to generate attractive, risk-adjusted returns over a multi-year performance period through the construction of a concentrated portfolio of investments possessing certain distinct business attributes that suggest the potential for long-term value creation. Beginning March 31, 2024, the agreement permits us to withdraw a percentage of the value of the investments in this fund through quarterly withdrawals with the intention to permit withdrawal of the entire investment over twelve successive withdrawal dates. Our unfunded commitment for this investment at June 30, 2024 was $10.0 million. Our receivables from preneed funeral 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. See Notes 8 and 9 to our Consolidated Financial Statements 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

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Jul. 26, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-11961
Entity Registrant Name	CARRIAGE SERVICES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0423828
Entity Address, Address Line One	3040 Post Oak Boulevard
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	713
Local Phone Number	332-8400
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	CSV
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,208,587
Entity Central Index Key	0001016281
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Basis of Presentation and Summary of Significant Accounting Policies Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Total benefit for income taxes	$ 4,200	$ 3,416	$ 7,949	$ 6,918
Income taxes before discrete items	33.60%	28.00%	33.20%	28.50%

Divested Operations - Divested Business (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Revenue	$ 121	$ 0	$ 1,272	$ 66
Operating income (loss)	33	(2)	151	24
Net loss on divestitures	(8)	0	(1,509)	(82)
Income tax (expense) benefit	(8)	1	451	17
Net gain (loss) from divested operations, after tax	$ 17	$ (1)	$ (907)	$ (41)

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(12))
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Trust Investments (Estimated maturities of fixed preneed funeral trust income securities) (Details) - Preneed Funeral Trust Investments $ in Thousands	Jun. 30, 2024 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Due in one year or less	$ 81
Due in one to five years	12,046
Due in five to ten years	767
Thereafter	16,418
Total fixed income securities	$ 29,312

Stockholders' Equity (Narrative) (Details) - USD ($)		3 Months Ended		6 Months Ended
Stockholders' Equity (Narrative) (Details) - USD ($)	Apr. 02, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Directors compensation expense		$ 200,000		$ 700,000	$ 400,000
Remaining authorized repurchase amount		48,900,000		48,900,000
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		100,000	$ 200,000	300,000	400,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		600,000	400,000	1,100,000	600,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		800,000	700,000	$ 1,000,000.0	1,400,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				33.00%
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense				$ 800,000
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly installment of annual cash retainer	$ 37,500
Admission grant	25,000
Officers and Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Directors compensation expense		$ 500,000	$ 700,000	$ 100,000	$ 700,000
Lead Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly installment of annual cash retainer	5,000
Additional installment of annual cash retainer	20,000
Chairman of Audit Committee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly installment of annual cash retainer	5,000
Additional installment of annual cash retainer	20,000
Chairman of Compensation Commitee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly installment of annual cash retainer	3,750
Additional installment of annual cash retainer	15,000
Chairman of Corporate Governance
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly installment of annual cash retainer	2,500
Additional installment of annual cash retainer	$ 10,000

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenues	$ 102,318	$ 97,678	$ 205,811	$ 193,192
Field costs and expenses:
Cemetery property amortization	2,560	1,892	4,316	3,093
Field depreciation expense	3,405	3,555	6,872	6,912
Regional and unallocated funeral and cemetery costs	4,245	4,131	8,087	9,568
Other expenses	1,462	1,604	2,970	2,857
Total field costs and expenses	65,325	66,476	131,556	130,935
Gross profit	36,993	31,202	74,255	62,257
Corporate costs and expenses:
General, administrative and other	18,601	10,199	34,841	20,379
Net loss on divestitures, disposals and impairments charges	23	265	1,568	506
Operating income	18,369	20,738	37,846	41,372
Interest expense	8,324	9,396	17,036	17,935
(Gain) loss on property damage, net of insurance claims	(417)	(235)	(417)	36
Other, net	3	(125)	46	(647)
Income before income taxes	10,459	11,702	21,181	24,048
Expense for income taxes	3,513	3,273	7,032	6,841
Expense related to discrete income tax items	687	143	917	77
Total expense for income taxes	4,200	3,416	7,949	6,918
Net income	$ 6,259	$ 8,286	$ 13,232	$ 17,130
Earnings Per Share, Basic and Diluted [Abstract]
Continuing operations (in dollars per Share)	$ 0.41	$ 0.55	$ 0.87	$ 1.14
Continuing operations (in dollars per Share)	0.40	0.53	0.85	1.10
Dividends declared per common share (in dollars per Share)	$ 0.1125	$ 0.1125	$ 0.2250	$ 0.2250
Weighted average number of common and common equivalent shares outstanding:
Basic (in Shares)	14,965	14,793	14,920	14,776
Diluted (in Shares)	15,403	15,454	15,356	15,461
Service
Segment Reporting Information [Line Items]
Revenues	$ 44,433	$ 44,522	$ 94,132	$ 92,729
Field costs and expenses:
Cost of service and merchandise	21,672	23,075	45,380	46,552
Property and Merchandise
Segment Reporting Information [Line Items]
Revenues	49,590	45,630	95,092	85,641
Field costs and expenses:
Cost of service and merchandise	31,981	32,219	63,931	61,953
Other revenue
Segment Reporting Information [Line Items]
Revenues	$ 8,295	$ 7,526	$ 16,587	$ 14,822

Trust Investments (Preneed cemetery trust investment security transactions) (Details) - Preneed Cemetery Trust Investments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt and Equity Securities, FV-NI [Line Items]
Unrealized gains (losses), net	$ 3,439	$ 2,023	$ (8,714)	$ (4,936)
Total	0	0	0	0
Interest Income and Other, Net
Debt and Equity Securities, FV-NI [Line Items]
Investment income	689	844	1,279	1,383
Expenses and taxes	(316)	(705)	(622)	(1,339)
Increase (decrease) in deferred preneed cemetery receipts held in trust	(4,271)	1,661	7,202	1,903
Realized gains	728	924	2,001	11,500
Realized losses	$ (269)	$ (4,747)	$ (1,146)	$ (8,511)

Leases - Carrying Values of Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 16,058	$ 16,295
Finance lease right-of-use assets	7,870	8,249
Accumulated depreciation	(3,288)	(3,059)
Finance lease right-of-use assets, net	4,582	5,190
Operating lease obligations	2,843	2,713
Finance lease obligations	510	592
Total current lease liabilities	3,353	3,305
Obligations under operating leases, net of current portion	15,263	15,797
Finance lease non-current liabilities	5,304	5,831
Total non-current lease liabilities	20,567	21,628
Total lease liabilities	$ 23,920	$ 24,933

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Senior Notes (Notes)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Senior Notes

SENIOR NOTES

The carrying value of our 4.25% senior notes due 2029 (the “Senior Notes”) is reflected on our Consolidated Balance Sheet as follows (in thousands):


	June 30, 2024		December 31, 2023
Long-term liabilities:
Principal amount	$	400,000	$	400,000

Debt discount, net of accumulated amortization of $1,575 and $1,309, respectively	(2,925)		(3,191)
Debt issuance costs, net of accumulated amortization of $449 and $373, respectively	(828)		(904)
Carrying value of the Senior Notes	$	396,247	$	395,905

At June 30, 2024, the fair value of the Senior Notes, which are Level 2 measurements, was $357.0 million.

The Senior Notes were issued under an indenture, dated as of May 13, 2021 (the “Indenture”), among the Company, the Subsidiary Guarantors and Wilmington Trust, National Association, as trustee. 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. The Senior Notes mature on May 15, 2029, unless earlier redeemed or purchased and bear interest at 4.25% per year, which is payable semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2021.

The Indenture contains restrictive covenants limiting our ability and the ability of 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 interest expense and amortization of debt discount and debt issuance costs related to our Senior Notes are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Senior Notes interest expense	$	4,250	$	4,250	$	8,500	$	8,500
Senior Notes amortization of debt discount	134		128		266		255

Senior Notes amortization of debt issuance costs	38		37		76		73

The debt discount and the debt issuance costs are being amortized using the effective interest method over the remaining term of approximately 59 months of the Senior Notes. The effective interest rate on the unamortized debt discount and the unamortized debt issuance costs for the Senior Notes for both the three and six months ended June 30, 2024 and 2023 was 4.42% and 4.30%, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents changes in goodwill in the accompanying Consolidated Balance Sheet (in thousands):


	June 30, 2024		December 31, 2023
Goodwill at the beginning of the period	$	423,643	$	410,137
Increase in goodwill related to acquisitions	—		13,506
Decrease in goodwill related to divestitures	(8,748)		—

Goodwill at the end of the period	$	414,895	$	423,643

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Credit Facility and Acquisition Debt - Imputed Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Series of Individually Immaterial Business Acquisitions
Debt Instrument [Line Items]
Acquisition debt imputed interest expense	$ 103	$ 71	$ 207	$ 142

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Leases - Lease Term and Discount Rate (Details)	Jun. 30, 2024
Weighted-average remaining lease term (years)
Operating leases	7 years 6 months
Finance leases	10 years 2 months 12 days
Weighted-average discount rate
Operating leases	8.10%
Finance leases	8.30%

Leases - Cash flow (Details) - USD ($) $ in Thousands	6 Months Ended
Leases - Cash flow (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Cash paid for operating leases included in operating activities	$ 2,149	$ 1,934
Cash paid for finance leases included in financing activities	$ 546	$ 447

Trust Investments (Cost and fair market values associated with preneed funeral trust investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Preneed Cemetery Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 107,696	$ 102,879
Unrealized Gains	5,582	11,679
Unrealized Losses	(10,518)	(16,031)
Fair Market Value	102,760	98,527
Preneed cemetery trust investments	$ 103,516	$ 99,461
Preneed cemetery trust investments, fair market value as a percentage of cost (in Percent)	95.40%	95.80%
Preneed Cemetery Trust Investments \| Accrued investment income
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 756	$ 934
Fair Market Value	756	934
Preneed Funeral Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Cost	116,501	113,499
Unrealized Gains	4,956	10,938
Unrealized Losses	(8,931)	(14,042)
Fair Market Value	112,526	110,395
Preneed cemetery trust investments	$ 113,196	$ 111,247
Preneed cemetery trust investments, fair market value as a percentage of cost (in Percent)	96.60%	97.30%
Preneed Funeral Trust Investments \| Accrued investment income
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 670	$ 852
Fair Market Value	670	852
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Cash and money market accounts
Debt and Equity Securities, FV-NI [Line Items]
Cost	20,809	9,643
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	20,809	9,643
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Common stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	32,774	43,057
Unrealized Gains	2,868	9,466
Unrealized Losses	(3,265)	(7,935)
Fair Market Value	32,377	44,588
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Limited partnership fund
Debt and Equity Securities, FV-NI [Line Items]
Cost	3,675	3,575
Unrealized Gains	410	0
Unrealized Losses	0	(3)
Fair Market Value	4,085	3,572
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Cost		553
Unrealized Gains		10
Unrealized Losses		(30)
Fair Market Value		533
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Cash and money market accounts
Debt and Equity Securities, FV-NI [Line Items]
Cost	38,395	26,707
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	38,395	26,707
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Common stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	28,205	38,600
Unrealized Gains	2,505	8,858
Unrealized Losses	(2,624)	(6,855)
Fair Market Value	28,086	40,603
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Limited partnership fund
Debt and Equity Securities, FV-NI [Line Items]
Cost	3,365	3,383
Unrealized Gains	375	0
Unrealized Losses	0	(2)
Fair Market Value	3,740	3,381
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Cost		401
Unrealized Gains		3
Unrealized Losses		(29)
Fair Market Value		375
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| U.S. Treasury Debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	406	451
Unrealized Gains	0	0
Unrealized Losses	(37)	(34)
Fair Market Value	369	417
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| U.S. agency obligations
Debt and Equity Securities, FV-NI [Line Items]
Cost	665	803
Unrealized Gains	0	1
Unrealized Losses	(55)	(51)
Fair Market Value	610	753
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Foreign debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	8,914	7,764
Unrealized Gains	1,464	1,371
Unrealized Losses	(11)	(17)
Fair Market Value	10,367	9,118
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Corporate debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	14,280	15,071
Unrealized Gains	210	342
Unrealized Losses	(2,897)	(3,657)
Fair Market Value	11,593	11,756
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	11,477	10,965
Unrealized Gains	503	473
Unrealized Losses	(1,788)	(1,572)
Fair Market Value	10,192	9,866
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Cost	79	79
Unrealized Gains	0	0
Unrealized Losses	(7)	(7)
Fair Market Value	72	72
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Cost	944
Unrealized Gains	71
Unrealized Losses	(5)
Fair Market Value	1,010
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Fixed income
Debt and Equity Securities, FV-NI [Line Items]
Cost	14,079	11,369
Unrealized Gains	56	16
Unrealized Losses	(2,490)	(2,759)
Fair Market Value	11,645	8,626
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Foreign debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	8,115	7,300
Unrealized Gains	1,340	1,297
Unrealized Losses	(10)	(16)
Fair Market Value	9,445	8,581
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Corporate debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	12,857	13,848
Unrealized Gains	192	323
Unrealized Losses	(2,545)	(3,255)
Fair Market Value	10,504	10,916
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	10,144	9,786
Unrealized Gains	461	442
Unrealized Losses	(1,611)	(1,468)
Fair Market Value	8,994	8,760
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Cost	757
Unrealized Gains	35
Unrealized Losses	(5)
Fair Market Value	787
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Fixed Income Securities
Debt and Equity Securities, FV-NI [Line Items]
Cost	11,697	9,513
Unrealized Gains	48	15
Unrealized Losses	(2,099)	(2,383)
Fair Market Value	9,646	7,145
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Other Investments
Debt and Equity Securities, FV-NI [Line Items]
Cost	2,560	3,510
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	$ 2,560	$ 3,510

Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles of Consolidation and Interim Condensed Disclosures, Policy

Principles of Consolidation and Interim Condensed Disclosures

Our unaudited Consolidated Financial Statements include the Company and its subsidiaries. All intercompany balances and transactions have been eliminated. Our interim Consolidated Financial Statements are unaudited, but include all adjustments, which consist of normal, recurring accruals, that are necessary for a fair presentation of our financial position and results of operations as of and for the interim periods presented.

There have been no material changes in our accounting policies previously disclosed in Part II, Item 8 “Financial Statements and Supplementary Data” in Note 1 in our Annual Report on Form 10-K for the year ended December 31, 2023. In addition, our unaudited Consolidated Financial Statements have been prepared in a manner consistent with the accounting principles described in our Annual Report on Form 10-K for the year ended December 31, 2023 unless otherwise disclosed herein, and should be read in conjunction therewith.

Use of Estimates, Policy

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 ongoing basis, we evaluate our critical estimates and judgments, which include those related to the impairment of goodwill and the fair value measurements used in business combinations. These policies are considered critical because they may result in fluctuations in our reported results from period to period due to the significant judgments, estimates and assumptions about complex and inherently uncertain matters and because the use of different judgments, assumptions or estimates could have a material impact on our financial condition or results of operations. 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 because there can be no assurance the margins, operating income and net earnings, as a percentage of revenue, will be consistent from period to period.

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.

Subsequent Events, Policy

Subsequent Events

We have evaluated events and transactions during the period subsequent to June 30, 2024 through the date the financial statements were issued for potential recognition or disclosure in the accompanying financial statements covered by this report.

New Accounting Pronouncements Not Yet Adopted

Segment Reporting

In November 2023, the FASB issued ASU, Segment Reporting - Improvements to Reportable Segment Disclosures (“Topic 280”) to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update require that a public entity disclose, on an annual and interim basis (1) significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss; and (2) an amount for other segment items, as described in the amendments, by reportable segment and a description of its composition. Additionally, the amendments require that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and therefore were effective for us for our fiscal year beginning January 1, 2024 and for interim periods within our fiscal year beginning January 1, 2025. We expect the adoption will have no impact on our Consolidated Financial Statements.

Accounting Pronouncements Not Yet Adopted

Income Taxes

In December 2023, the FASB issued ASU, Income Taxes - Improvements to Income Tax Disclosures (“Topic 740”) to enhance the transparency about income tax information through improvements to income tax disclosures primarily related to rate reconciliation and income taxes paid information. The amendments in this update require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation; and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than five percent of the amount computed by multiplying pretax income (loss) by the applicable statutory income tax rate). The amendments in this update also require that all entities disclose on an annual basis (1) the amount of net income taxes paid disaggregated by federal and state taxes; and (2) the amount of net income taxes paid disaggregated by individual jurisdictions in which net income taxes paid is equal to or greater than five percent of total net income taxes paid. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. We plan to adopt the amendments of Topic 740 for our fiscal year beginning January 1, 2025. We expect the adoption will have no impact on our Consolidated Financial Statements.

Property, Plant and Equipment, Policy

Property, Plant and Equipment

Property, plant and equipment is comprised of the following (in thousands):


	June 30, 2024		December 31, 2023
Land	$	86,829	$	87,635
Buildings and improvements	262,353		263,522
Furniture, equipment and vehicles	73,139		74,372
Property, plant and equipment, at cost	422,321		425,529
Less: accumulated depreciation	(141,966)		(138,045)
Property, plant and equipment, net	$	280,355	$	287,484

Senior Notes (Narrative) (Details) $ in Millions	6 Months Ended
Senior Notes (Narrative) (Details) $ in Millions	Jun. 30, 2024 USD ($)
Senior Notes 4.25%
Debt Instrument [Line Items]
Debt Instrument, Term	59 months
Senior Notes
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 357.0
Senior Note Two \| Senior Notes 4.25%
Debt Instrument [Line Items]
Stated interest rate percentage	4.25%
Senior Note Two \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Unamortized Debt Issuance Costs	4.30%
Senior Note One \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Discount Rate	4.42%

Senior Notes (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying value of our 4.25% senior notes due 2029 (the “Senior Notes”) is reflected on our Consolidated Balance Sheet as follows (in thousands):


	June 30, 2024		December 31, 2023
Long-term liabilities:
Principal amount	$	400,000	$	400,000

Debt discount, net of accumulated amortization of $1,575 and $1,309, respectively	(2,925)		(3,191)
Debt issuance costs, net of accumulated amortization of $449 and $373, respectively	(828)		(904)
Carrying value of the Senior Notes	$	396,247	$	395,905

Schedule of Long-term Debt

Our Credit Facility and acquisition debt consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Credit Facility	$	155,000	$	179,100
Debt issuance costs, net of accumulated amortization of $2,754 and $2,478, respectively	(1,030)		(1,306)
Total Credit Facility	$	153,970	$	177,794

Acquisition debt	$	5,959	$	5,998
Less: current portion	(571)		(537)
Total acquisition debt, net of current portion	$	5,388	$	5,461

The imputed interest expense related to our acquisition debt is as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Acquisition debt imputed interest expense	$	103	$	71	$	207	$	142

The interest expense and amortization of debt discount and debt issuance costs related to our Senior Notes are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Senior Notes interest expense	$	4,250	$	4,250	$	8,500	$	8,500
Senior Notes amortization of debt discount	134		128		266		255

Senior Notes amortization of debt issuance costs	38		37		76		73


Applicable Rate
Pricing Level	Total Leverage Ratio	Term SOFR / Letter of Credit Fees	Base Rate
1	< 3.00:1.00	1.625%	0.625%
2	< 3.50:1.00 but ≥ 3.00:1.00	1.875%	0.875%
3	< 4.25:1.00 but ≥ 3.50:1.00	2.125%	1.125%
4	≥ 4.25:1.00	2.500%	1.500%

- 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://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 45
-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 30
-Section 45
-Paragraph 1A
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-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

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-SubTopic 10
-Section S99
-Paragraph 1
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

Senior Notes (Carrying Value of Senior Notes) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Accumulated amortization, debt issuance costs	$ 2,754,000	$ 2,478,000
Senior Notes
Debt Instrument [Line Items]
Principal amount	400,000,000	400,000,000
Debt discount, net of accumulated amortization of $1,575 and $1,309, respectively	(2,925,000)	(3,191,000)
Debt issuance costs, net of accumulated amortization of $449 and $373, respectively	(828,000)	(904,000)
Carrying value of the Senior Notes	396,247,000	395,905,000
Accumulated amortization, debt discount	1,575,000	1,309,000
Accumulated amortization, debt issuance costs	$ 373,000	$ 449,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Dividends Declared

Our Board declared the following dividends payable on the dates below (in thousands, except per share amounts):


2024	Per Share		Dollar Value
March 1st	$	0.1125	$	1,686
June 1st	$	0.1125	$	1,704


2023	Per Share		Dollar Value
March 1st	$	0.1125	$	1,661
June 1st	$	0.1125	$	1,679

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

Restricted stock activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Granted(1)	—	$	—	—	$	—	156,630	$	3,834	142,020	$	4,634
Returned for payroll taxes	39	$	1	39	$	1	16,354	$	419	1,473	$	50
Cancelled	—	$	—	776	$	27	26,240	$	841	1,826	$	61

(1)

Restricted stock granted during the six months ended June 30 2024 and 2023 vests over a three-year period, if the employee has remained continuously employed by us during the vesting period, at a weighted average stock price of $24.48 and $32.63, respectively.

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

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


			2024
Dividend yield			1.84%
Expected volatility			41.15%
Risk-free interest rate			5.46%, 5.24%, 5.02%, 4.80%
Expected life (years)			0.25, 0.50, 0.75, 1.00

Share-based Payment Arrangement, Performance Shares, Outstanding Activity

Non-Employee Director and Board Advisor common stock activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Board of Directors(1)	5,427	$	146	1,077	$	35	9,426	$	254	4,595	$	142
Advisor to the Board(1)	186	$	5	153	$	5	370	$	10	316	$	10

(1)

Common stock granted during the three months ended June 30, 2024 and 2023 had a weighted average price of $26.84 and $32.47, respectively, and $26.93 and $31.01 for the six months ended June 30, 2024 and 2023, respectively.

Share-based Payment Arrangement, Option, Activity

Stock option grants and cancellations are as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Granted(1)	—	$	—	—	$	—	370,590	$	3,830	214,191	$	2,506


Cancelled	193,048	$	2,095	13,810	$	152	487,776	$	5,852	101,850	$	1,334

(1)

Stock options granted during the six months ended June 30, 2024 and 2023 had a weighted average price of $24.48 and $32.69, respectively. The fair value of these options was calculated using the Black-Scholes option pricing model. The options granted in 2024 and 2023 vest over a three-year period and have a ten-year term. These options will vest if the employee has remained continuously employed by us through the vesting period.

The fair value of the options granted during the six months ended June 30, 2024 was estimated using the Black-Scholes option pricing model with the following assumptions:


Grant Date												February 21, 2024
Expected holding period (years)												6.00
Awards granted												370,590
Dividend yield												1.79%
Expected volatility												43.59%
Risk-free interest rate												4.31%
Black-Scholes value												$10.34

Additional stock option activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Cash		Shares	Cash		Shares	Cash		Shares	Cash
Exercised(1)	50,000	$	1,271	17,300	N/A		50,000	$	1,271	29,300	N/A
Returned for option price(2)	—	$	—	12,652	$	—	—	$	—	22,797	$	—
Returned for payroll taxes(3)	—	$	—	736	$	20	—	$	—	1,465	$	41



(1)			Stock options exercised during the three months ended June 30, 2024 and 2023 had a weighted average exercise price of $25.43 and $20.06 with an aggregate intrinsic value of $0.1 million and $0.2 million, respectively. Stock options exercised during the six months ended June 30, 2024 and 2023 had a weighted average exercise price of $25.43 and $22.26 with an aggregate intrinsic value of $0.1 million and $0.3 million, respectively.
(2)			Represents shares withheld/cash received for the payment of the option price.
(3)			Represents shares withheld/cash paid for the payment of payroll taxes.

Share-based Payment Arrangement, Activity

Performance award activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value

Cancelled	—	$	—	2,795	$	27	80,276	$	871	40,181	$	1,012

Common stock activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Granted(1)	—	$	—	—	$	—	—	$	—	30,000	$	826
Returned for payroll taxes	—	$	—	—	$	—	—	$	—	1,001	$	28

(1)

During the six months ended June 30, 2023, we issued 30,000 shares of common stock to a former executive at a stock price of $27.54, in accordance with his Separation and Release agreement pertaining to his resignation from his position as the Company’s Executive Vice President, Chief Financial Officer & Treasurer effective January 2, 2023.

Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity

ESPP activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Price		Shares	Price		Shares	Price		Shares	Price
ESPP	15,270	$	21.26	16,386	$	24.28	31,566	$	21.26	38,042	$	24.28

Receivables (Tables)

6 Months Ended

Jun. 30, 2024

Preneed Cemetery Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Accounts receivable is comprised of the following (in thousands):


	June 30, 2024
	Funeral		Cemetery		Corporate		Total
Trade and financed receivables	$	8,138	$	21,915	$	—	$	30,053
Other receivables	307		293		334		934
Allowance for credit losses	(355)		(1,234)		—		(1,589)
Accounts receivable, net	$	8,090	$	20,974	$	334	$	29,398


	December 31, 2023
	Funeral		Cemetery		Corporate		Total
Trade and financed receivables	$	8,822	$	18,459	$	—	$	27,281
Other receivables	404		595		286		1,285
Allowance for credit losses	(266)		(1,240)		—		(1,506)
Accounts receivable, net	$	8,960	$	17,814	$	286	$	27,060

Cemetery Receivables

Our cemetery receivables are comprised of the following (in thousands):


	June 30, 2024		December 31, 2023
Interment rights	$	71,864	$	60,863
Merchandise and services	12,516		11,223
Unearned finance charges	6,466		5,669
Cemetery receivables	$	90,846	$	77,755

The components of our cemetery receivables are as follows (in thousands):


	June 30, 2024		December 31, 2023
Cemetery receivables	$	90,846	$	77,755
Less: unearned finance charges	(6,466)		(5,669)
Cemetery receivables, at amortized cost	$	84,380	$	72,086
Less: allowance for credit losses	(3,491)		(3,495)
Less: balances due on undelivered cemetery preneed contracts	(14,639)		(15,797)
Less: amounts in accounts receivable	(20,681)		(17,219)
Preneed cemetery receivables, net	$	45,569	$	35,575

The amortized cost basis of our cemetery receivables by year of origination at June 30, 2024 is as follows (in thousands):


	2024		2023		2022		2021		2020		Prior		Total
Total preneed cemetery receivables, at amortized cost	$	27,655	$	27,698	$	16,244	$	7,837	$	3,062	$	1,884	$	84,380

Preneed Cemetery Receivables

The following table summarizes the activity in our allowance for credit losses by segment (in thousands):


	January 1, 2024		Provision for Credit Losses		Write Offs		Recoveries		June 30, 2024
Trade and financed receivables:
Funeral	$	(266)	$	(591)	$	975	$	(473)	$	(355)
Cemetery	(1,240)		(343)		349		—		(1,234)
Total allowance for credit losses on trade and financed receivables	$	(1,506)	$	(934)	$	1,324	$	(473)	$	(1,589)

The following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net (in thousands):


	January 1, 2024		Provision for Credit Losses		Write Offs		June 30, 2024
Total allowance for credit losses on Preneed cemetery receivables, net	$	(2,255)	$	(513)	$	511	$	(2,257)

Aging of Past Due Financing Receivables

The aging of past due cemetery receivables at June 30, 2024 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
Recognized revenue	$	2,379	$	782	$	277	$	3,339	$	6,777	$	62,964	$	69,741
Deferred revenue	582		179		76		1,197		2,034		19,071		21,105
Total contracts	$	2,961	$	961	$	353	$	4,536	$	8,811	$	82,035	$	90,846

Trust Investments (Preneed funeral trust investment security transactions) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt and Equity Securities, FV-NI [Line Items]
Unrealized gains (losses), net	$ 3,380	$ 1,873	$ (7,205)	$ (3,975)
Total	0	0	0	0
Interest Income and Other, Net
Debt and Equity Securities, FV-NI [Line Items]
Investment income	577	675	1,063	1,111
Expenses and taxes	(202)	(296)	(394)	(667)
Total	(4,198)	1,197	5,690	409
Realized gains	703	846	1,943	10,626
Realized losses	$ (260)	$ (4,295)	$ (1,097)	$ (7,504)

Receivables from Preneed Funeral Trusts

6 Months Ended

Jun. 30, 2024

Receivables From Preneed Trusts [Abstract]

Receivables from Preneed Funeral Trusts

RECEIVABLES FROM PRENEED FUNERAL TRUSTS

Our receivables from preneed funeral 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. Receivables from preneed funeral trusts are as follows (in thousands):


	June 30, 2024		December 31, 2023
Preneed funeral trust funds, at cost	$	22,757	$	22,196
Less: allowance for contract cancellation	(683)		(666)
Receivables from preneed funeral trusts, net	$	22,074	$	21,530

The following summary reflects the composition of the assets held in trust and controlled by third parties to satisfy our future obligations related to the underlying preneed funeral contracts at June 30, 2024 and December 31, 2023. 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 funeral trust funds at June 30, 2024 is as follows (in thousands):


	Historical Cost Basis		Fair Value
Cash and cash equivalents	$	6,704	$	6,704
Fixed income investments	12,886		12,886
Mutual funds and common stocks	3,163		2,897
Annuities	4		4
Total	$	22,757	$	22,491

The composition of the preneed funeral trust funds at December 31, 2023 is as follows (in thousands):


	Historical Cost Basis		Fair Value
Cash and cash equivalents	$	6,547	$	6,547
Fixed income investments	12,732		12,732
Mutual funds and common stocks	2,913		2,695
Annuities	4		4
Total	$	22,196	$	21,978

Receivables Allowance for credit losses by portfolio segment (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ (1,506)
Provision for Credit Losses	(934)
Write Offs	1,324
Recoveries	(473)
Balance at end of period	(1,589)
Funeral
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	(266)
Provision for Credit Losses	(591)
Write Offs	975
Recoveries	(473)
Balance at end of period	(355)
Cemetery
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	(1,240)
Provision for Credit Losses	(343)
Write Offs	349
Recoveries	0
Balance at end of period	$ (1,234)

Segment Reporting

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

SEGMENT REPORTING

Revenue, disaggregated by major source for each of our reportable segments was as follows (in thousands):


Three months ended June 30, 2024
	Funeral		Cemetery		Total
Services	$	39,589	$	4,844	$	44,433
Merchandise	19,664		4,483		24,147
Cemetery property	—		25,443		25,443
Other revenue	4,342		3,953		8,295
Total	$	63,595	$	38,723	$	102,318


Three months ended June 30, 2023
	Funeral		Cemetery		Total
Services	$	39,799	$	4,723	$	44,522
Merchandise	21,211		4,244		25,455
Cemetery property	—		20,175		20,175
Other revenue	3,495		4,031		7,526
Total	$	64,505	$	33,173	$	97,678


Six months ended June 30, 2024
	Funeral		Cemetery		Total
Services	$	84,396	$	9,736	$	94,132
Merchandise	42,323		8,623		50,946
Cemetery property	—		44,146		44,146
Other revenue	8,707		7,880		16,587
Total	$	135,426	$	70,385	$	205,811


Six months ended June 30, 2023
	Funeral		Cemetery		Total
Services	$	83,401	$	9,328	$	92,729
Merchandise	44,180		8,178		52,358
Cemetery property	—		33,283		33,283
Other revenue	7,009		7,813		14,822
Total	$	134,590	$	58,602	$	193,192

The following table presents operating income (loss), income (loss) before income taxes and total assets (in thousands):


	Funeral		Cemetery		Corporate		Consolidated



Operating income (loss):
Three months ended June 30, 2024	$	20,759	$	16,203	$	(18,593)	$	18,369
Three months ended June 30, 2023	17,898		13,039		(10,199)		20,738

Six months ended June 30, 2024	$	43,833	$	28,845	$	(34,832)	$	37,846
Six months ended June 30, 2023	40,091		21,651		(20,370)		41,372

Income (loss) before income taxes:
Three months ended June 30, 2024	$	21,024	$	16,303	$	(26,868)	$	10,459
Three months ended June 30, 2023	18,112		13,183		(19,593)		11,702

Six months ended June 30, 2024	$	43,892	$	29,013	$	(51,724)	$	21,181
Six months ended June 30, 2023	40,446		21,854		(38,252)		24,048

Total assets:
June 30, 2024	$	787,166	$	463,205	$	18,895	$	1,269,266
December 31, 2023	802,368		448,018		17,666		1,268,052

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Receivables from Preneed Trusts Receivables from Preneed Funeral Trusts (Composition of Assets Held in Trusts) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Historical Cost Basis
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	$ 22,757	$ 22,196
Historical Cost Basis \| Cash and cash equivalents
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	6,704	6,547
Historical Cost Basis \| Fixed income investments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	12,886	12,732
Historical Cost Basis \| Mutual funds and common stocks
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	3,163	2,913
Historical Cost Basis \| Annuities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	4	4
Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	22,491	21,978
Fair Value \| Cash and cash equivalents
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	6,704	6,547
Fair Value \| Fixed income investments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	12,886	12,732
Fair Value \| Mutual funds and common stocks
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	2,897	2,695
Fair Value \| Annuities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held-in-trust	$ 4	$ 4

Earnings Per Share (EPS Computations) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Less: Earnings allocated to unvested restricted stock	$ 6,259	$ 8,286	$ 13,232	$ 17,130
Income attributable to common stockholders	(93)	(79)	(194)	(150)
Income attributable to common stockholders	$ 6,166	$ 8,207	$ 13,038	$ 16,980
Denominator [Abstract]
Denominator for basic earnings per common share – weighted average shares outstanding	14,965,000	14,793,000	14,920,000	14,776,000
Weighted average number of common and common equivalent shares outstanding for diluted EPS computation	15,403,000	15,454,000	15,356,000	15,461,000
Basic and Diluted earnings per common share:
Continuing operations (in dollars per Share)	$ 0.41	$ 0.55	$ 0.87	$ 1.14
Continuing operations (in dollars per Share)	$ 0.40	$ 0.53	$ 0.85	$ 1.10
Antidilutive securities excluded from computation of diluted EPS	1,433,000	1,236,000	1,456,000	1,183,000
Stock options
Denominator [Abstract]
Effect of dilutive securities, share options (in shares)	22,000	50,000	20,000	74,000
Performance awards
Denominator [Abstract]
Effect of dilutive securities, share options (in shares)	416,000	611,000	416,000	611,000

Basis of Presentation and Summary of Significant Accounting Policies (Operations) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) funeral_home state cemeteries divestiture	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) segment funeral_home state cemeteries divestiture	Jun. 30, 2023 USD ($) divestiture	Dec. 31, 2023 USD ($)
Organization Description and Operations [Line Items]
Number of business segments \| segment			2
Contingent liability accrual	$ 5,000		$ 5,000
Realized capital gains			8,600
Incentive payment from vendor			0	$ (6,000)
Carrying value of divestitures			300	600
Proceeds from sale of property			300	1,200
Assets held for sale	500		500
Payments to acquire real estate			12,800
Gain on sale of excess land				600
Growth and maintenance capital expenditures	(1,900)	$ (2,600)	(3,500)	(5,500)
Depreciation expense	3,500	3,700	7,200
Property, plant and equipment, gross	113,300		113,300		$ 114,600
Accumulated amortization	68,700		68,700		$ 64,600
Growth capital expenditures	(1,600)	(1,400)	(3,600)	(3,500)
Amortization of cemetery interment rights	2,600	1,900	4,300	3,100
Total benefit for income taxes	$ 4,200	$ 3,416	$ 7,949	$ 6,918
Income taxes before discrete items	33.60%	28.00%	33.20%	28.50%
Revenue Benchmark \| Product Concentration Risk \| Funeral
Organization Description and Operations [Line Items]
Concentration risk, percentage			65.00%
Revenue Benchmark \| Product Concentration Risk \| Cemetery
Organization Description and Operations [Line Items]
Concentration risk, percentage			35.00%
Funeral homes
Organization Description and Operations [Line Items]
Carrying value of divestitures			$ 3,100
Funeral homes
Organization Description and Operations [Line Items]
Number of owned and operated funeral homes (in Funeral Homes) \| funeral_home	164		164
Number of states in which Company operates \| state	26		26
Cemeteries
Organization Description and Operations [Line Items]
Number of states in which Company operates \| state	11		11
Number of owned and operated cemeteries (in Cemetaries) \| cemeteries	31		31
Carrying value of divestitures			$ 800
Payments to acquire real estate			$ 9,000
Number of businesses sold \| divestiture			2
Cemetery
Organization Description and Operations [Line Items]
Number of businesses sold \| divestiture			1	2
Funeral
Organization Description and Operations [Line Items]
Number of assets held for sale \| divestiture	1		1
Number of businesses sold \| divestiture			6	1

Trust Investments (Unrealized losses on preneed funeral trust investments) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	$ 4,303	$ 899
In Loss Position Less than 12 months, Unrealized Losses	(232)	(64)
In Loss Position Greater than 12 months, Fair Market Value	9,343	11,449
In Loss Position Greater than 12 months, Unrealized Losses	(3,971)	(4,709)
Total, Fair Market Value	13,646	12,348
Total, Unrealized Losses	(4,203)	(4,773)
US agency securities
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	0	0
In Loss Position Less than 12 months, Unrealized Losses	0	0
In Loss Position Greater than 12 months, Fair Market Value	369	371
In Loss Position Greater than 12 months, Unrealized Losses	37	34
Total, Fair Market Value	369	371
Total, Unrealized Losses	37	34
Foreign debt
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	0	269
In Loss Position Less than 12 months, Unrealized Losses	0	(5)
In Loss Position Greater than 12 months, Fair Market Value	199	198
In Loss Position Greater than 12 months, Unrealized Losses	(10)	(11)
Total, Fair Market Value	199	467
Total, Unrealized Losses	(10)	(16)
Corporate debt
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	3,633	630
In Loss Position Less than 12 months, Unrealized Losses	(230)	(59)
In Loss Position Greater than 12 months, Fair Market Value	1,880	3,802
In Loss Position Greater than 12 months, Unrealized Losses	(2,315)	(3,196)
Total, Fair Market Value	5,513	4,432
Total, Unrealized Losses	(2,545)	(3,255)
Preferred stock
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	670	0
In Loss Position Less than 12 months, Unrealized Losses	(2)	0
In Loss Position Greater than 12 months, Fair Market Value	6,895	7,078
In Loss Position Greater than 12 months, Unrealized Losses	(1,609)	(1,468)
Total, Fair Market Value	7,565	7,078
Total, Unrealized Losses	$ (1,611)	$ (1,468)

Supplementary Data

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplementary Data

SUPPLEMENTARY DATA

Balance Sheet

The following table presents the detail of certain balance sheet accounts (in thousands):


	June 30, 2024		December 31, 2023
Prepaid and other current assets:
Prepaid expenses	$	3,135	$	3,779

Federal income tax receivable	316		454
State income tax receivable	378		421
Other current assets	136		137
Total prepaid and other current assets	$	3,965	$	4,791

Current portion of debt and lease obligations:
Acquisition debt	$	571	$	537
Finance lease obligations	510		592
Operating lease obligations	2,843		2,713
Total current portion of debt and lease obligations	$	3,924	$	3,842

Accrued and other liabilities:
Incentive compensation	$	7,075	$	13,156
Salaries and wages	5,226		2,285
Vacation	3,702		3,647
Unrecognized tax benefit	3,427		3,382
Insurance	3,186		3,017

Interest	2,362		2,409
Ad valorem and franchise taxes	1,785		2,395
Commissions	1,195		1,144

Employee meetings and award trips	870		1,185
Perpetual care trust payable	361		1,358

Other accrued liabilities	1,466		1,384
Total accrued and other liabilities	$	30,655	$	35,362

Other long-term liabilities:
Incentive compensation	$	1,162	$	1,855

Other long-term liabilities	695		—
Total other long-term liabilities	$	1,857	$	1,855

Cash Flow

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


	Six months ended June 30,
	2024		2023
Cash paid for interest	$	16,258	$	17,056
Cash paid for taxes	9,200		7,329

Receivables (Preneed cemetery receivables) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Preneed cemetery receivables	$ 90,846		$ 77,755
Unearned finance charges associated with receivables	6,466		5,669
Receivables From Preneed Funeral Trust Gross	84,380		72,086
Preneed Funeral Trust Funds Allowance For Contract Cancellation And Credit Loss	(3,491)		(3,495)
Less: balances due on undelivered cemetery preneed contracts	(14,639)		(15,797)
Accounts Receivable, after Allowance for Credit Loss	(20,681)		(17,219)
Preneed cemetery receivables, net	45,569		35,575
Allowance for Contract Cancellations [Roll Forward]
Beginning balance	1,506
Provision	(1,447)	$ (1,344)
Ending balance	1,589
Cemetery
Allowance for Contract Cancellations [Roll Forward]
Beginning balance	1,240
Ending balance	1,234
Preneed Cemetery Receivables
Allowance for Contract Cancellations [Roll Forward]
Beginning balance	2,255
Provision	(513)
Write-offs and cancellations	511
Ending balance	2,257
Interment rights
Debt and Equity Securities, FV-NI [Line Items]
Preneed cemetery receivables	71,864		60,863
Merchandise and services
Debt and Equity Securities, FV-NI [Line Items]
Preneed cemetery receivables	$ 12,516		$ 11,223

Intangible and Other Non-Current Assets (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Other assets, noncurrent	$ 306	$ 306		$ 380
Intangible and other non-current assets, net	39,099	39,099		37,677
Amortization of intangibles		669	$ 647
Amortization of intangibles	200	400
Accumulated amortization of other deferred costs	3,788	$ 3,788		4,199
Minimum
Finite-Lived Intangible Assets [Line Items]
Service Contract, Term		8 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Service Contract, Term		10 years
Trade Names
Finite-Lived Intangible Assets [Line Items]
Other assets, noncurrent	28,713	$ 28,713		28,862
Trade Names \| Disposal Group, Not Discontinued Operations
Finite-Lived Intangible Assets [Line Items]
Disposal group, intangible assets	200	200
Capitalized Commissions
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	4,869	4,869		4,678
Prepaid Agreements
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	1,154	1,154		1,335
Finite-lived intangible assets, accumulated amortization	3,158	3,158		3,309
Amortization of intangibles	100	$ 200	300
Prepaid Agreements \| Minimum
Finite-Lived Intangible Assets [Line Items]
Service Contract, Term		1 year
Prepaid Agreements \| Maximum
Finite-Lived Intangible Assets [Line Items]
Service Contract, Term		10 years
Internal-use Software
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	4,057	$ 4,057		2,422
Finite-lived intangible assets, accumulated amortization	444	444		$ 612
Amortization of intangibles	$ 100	$ 200	$ 100
Internal-use Software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	3 years	3 years
Internal-use Software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life	5 years	5 years

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Components of Lease Expense

The components of lease cost are as follows (in thousands):


		Three months ended June 30,				Six months ended June 30,
	Income Statement Classification	2024		2023		2024		2023
Operating lease cost	Facilities and grounds expense(1)	$	999	$	917	$	1,977	$	1,792
Short-term lease cost	Facilities and grounds expense(1)	76		92		94		186
Variable lease cost	Facilities and grounds expense(1)	88		56		192		114

Finance lease cost:
Depreciation of leased assets	Depreciation and amortization(2)	$	126	$	109	$	252	$	217
Interest on lease liabilities	Interest expense	122		103		247		208
Total finance lease cost		248		212		499		425
Total lease cost		$	1,411	$	1,277	$	2,762	$	2,517



(1)			Facilities and grounds expense is included within Cost of service and General, administrative and other on our Consolidated Statements of Operations.
(2)			Depreciation and amortization expense is included within Field depreciation expense and General, administrative and other on our Consolidated Statements of Operations.

Supplemental cash flow information related to our leases is as follows (in thousands):


	Six months ended June 30,
	2024		2023
Cash paid for operating leases included in operating activities	$	2,149	$	1,934
Cash paid for finance leases included in financing activities	546		447

Right-of-use assets obtained in exchange for new leases is as follows (in thousands):


	Six months ended June 30,
	2024		2023
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,023	$	1,067
Right-of-use assets obtained in exchange for new finance lease liabilities	—		—

Supplemental balance sheet information related to leases is as follows (in thousands):


Lease Type	Balance Sheet Classification	June 30, 2024		December 31, 2023
Operating lease right-of-use assets	Operating lease right-of-use assets	$	16,058	$	16,295

Finance lease right-of-use assets	Property, plant and equipment, net	$	7,870	$	8,249
Accumulated depreciation	Property, plant and equipment, net	(3,288)		(3,059)
Finance lease right-of-use assets, net		$	4,582	$	5,190

Operating lease current liabilities	Current portion of operating lease obligations	$	2,843	$	2,713
Finance lease current liabilities	Current portion of finance lease obligations	510		592
Total current lease liabilities		$	3,353	$	3,305

Operating lease non-current liabilities	Obligations under operating leases, net of current portion	$	15,263	$	15,797
Finance lease non-current liabilities	Obligations under finance leases, net of current portion	5,304		5,831
Total non-current lease liabilities		$	20,567	$	21,628

Total lease liabilities		$	23,920	$	24,933

The average lease terms and discount rates at June 30, 2024 are as follows:


	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	7.5	8.1	%
Finance leases	10.2	8.3	%

Maturities of Operating Lease Liabilities

The aggregate future lease payments for non-cancelable operating and finance leases at June 30, 2024 are as follows (in thousands):


	Operating		Finance
Lease payments due:
Remainder of 2024	$	2,158	$	506
2025	4,006		964
2026	3,870		974
2027	3,627		974
2028	3,344		723
Thereafter	6,867		4,512
Total lease payments	23,872		8,653
Less: Interest	(5,766)		(2,839)
Present value of lease liabilities	$	18,106	$	5,814

Maturities of Financing Lease Liabilities

The aggregate future lease payments for non-cancelable operating and finance leases at June 30, 2024 are as follows (in thousands):


	Operating		Finance
Lease payments due:
Remainder of 2024	$	2,158	$	506
2025	4,006		964
2026	3,870		974
2027	3,627		974
2028	3,344		723
Thereafter	6,867		4,512
Total lease payments	23,872		8,653
Less: Interest	(5,766)		(2,839)
Present value of lease liabilities	$	18,106	$	5,814

Receivables

6 Months Ended

Jun. 30, 2024

Preneed Cemetery Receivables [Abstract]

Receivables

RECEIVABLES

Accounts Receivable

Our funeral receivables are recorded in Accounts receivable, net and primarily consist of amounts due for funeral services already performed.

Atneed cemetery receivables and preneed cemetery receivables with payments expected to be received within one year from the balance sheet date are also recorded in Accounts receivable, net. Preneed cemetery receivables with payments expected to be received beyond one year from the balance sheet date are recorded in Preneed cemetery receivables, net.

Accounts receivable is comprised of the following (in thousands):


	June 30, 2024
	Funeral		Cemetery		Corporate		Total
Trade and financed receivables	$	8,138	$	21,915	$	—	$	30,053
Other receivables	307		293		334		934
Allowance for credit losses	(355)		(1,234)		—		(1,589)
Accounts receivable, net	$	8,090	$	20,974	$	334	$	29,398


	December 31, 2023
	Funeral		Cemetery		Corporate		Total
Trade and financed receivables	$	8,822	$	18,459	$	—	$	27,281
Other receivables	404		595		286		1,285
Allowance for credit losses	(266)		(1,240)		—		(1,506)
Accounts receivable, net	$	8,960	$	17,814	$	286	$	27,060

Other receivables include supplier rebates, commissions due from third party insurance companies and perpetual care income receivables. We do not provide an allowance for credit losses for these receivables as we have historically not had any collectability issues nor do we expect any in the foreseeable future.

The following table summarizes the activity in our allowance for credit losses by segment (in thousands):


	January 1, 2024		Provision for Credit Losses		Write Offs		Recoveries		June 30, 2024
Trade and financed receivables:
Funeral	$	(266)	$	(591)	$	975	$	(473)	$	(355)
Cemetery	(1,240)		(343)		349		—		(1,234)
Total allowance for credit losses on trade and financed receivables	$	(1,506)	$	(934)	$	1,324	$	(473)	$	(1,589)

Balances due on undelivered preneed funeral trust contracts have been reclassified to reduce Deferred preneed funeral revenue on our Consolidated Balance Sheet of $10.8 million and $10.7 million at June 30, 2024 and December 31, 2023, 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.

Cemetery Receivables

Our cemetery receivables are comprised of the following (in thousands):


	June 30, 2024		December 31, 2023
Interment rights	$	71,864	$	60,863
Merchandise and services	12,516		11,223
Unearned finance charges	6,466		5,669
Cemetery receivables	$	90,846	$	77,755

The components of our cemetery receivables are as follows (in thousands):


	June 30, 2024		December 31, 2023
Cemetery receivables	$	90,846	$	77,755
Less: unearned finance charges	(6,466)		(5,669)
Cemetery receivables, at amortized cost	$	84,380	$	72,086
Less: allowance for credit losses	(3,491)		(3,495)
Less: balances due on undelivered cemetery preneed contracts	(14,639)		(15,797)
Less: amounts in accounts receivable	(20,681)		(17,219)
Preneed cemetery receivables, net	$	45,569	$	35,575

The following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net (in thousands):


	January 1, 2024		Provision for Credit Losses		Write Offs		June 30, 2024
Total allowance for credit losses on Preneed cemetery receivables, net	$	(2,255)	$	(513)	$	511	$	(2,257)

The amortized cost basis of our cemetery receivables by year of origination at June 30, 2024 is as follows (in thousands):


	2024		2023		2022		2021		2020		Prior		Total
Total preneed cemetery receivables, at amortized cost	$	27,655	$	27,698	$	16,244	$	7,837	$	3,062	$	1,884	$	84,380

The aging of past due cemetery receivables at June 30, 2024 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
Recognized revenue	$	2,379	$	782	$	277	$	3,339	$	6,777	$	62,964	$	69,741
Deferred revenue	582		179		76		1,197		2,034		19,071		21,105
Total contracts	$	2,961	$	961	$	353	$	4,536	$	8,811	$	82,035	$	90,846

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 $14.6 million and $15.8 million at June 30, 2024 and December 31, 2023, 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.

Credit Facility and Acquisition Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Our Credit Facility and acquisition debt consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Credit Facility	$	155,000	$	179,100
Debt issuance costs, net of accumulated amortization of $2,754 and $2,478, respectively	(1,030)		(1,306)
Total Credit Facility	$	153,970	$	177,794

Acquisition debt	$	5,959	$	5,998
Less: current portion	(571)		(537)
Total acquisition debt, net of current portion	$	5,388	$	5,461

The imputed interest expense related to our acquisition debt is as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Acquisition debt imputed interest expense	$	103	$	71	$	207	$	142

The interest expense and amortization of debt discount and debt issuance costs related to our Senior Notes are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Senior Notes interest expense	$	4,250	$	4,250	$	8,500	$	8,500
Senior Notes amortization of debt discount	134		128		266		255

Senior Notes amortization of debt issuance costs	38		37		76		73


Applicable Rate
Pricing Level	Total Leverage Ratio	Term SOFR / Letter of Credit Fees	Base Rate
1	< 3.00:1.00	1.625%	0.625%
2	< 3.50:1.00 but ≥ 3.00:1.00	1.875%	0.875%
3	< 4.25:1.00 but ≥ 3.50:1.00	2.125%	1.125%
4	≥ 4.25:1.00	2.500%	1.500%

Schedule of Line of Credit Facilities

The interest expense and amortization of debt issuance costs related to our Credit Facility are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Credit Facility interest expense	$	3,523	$	4,668	$	7,439	$	8,479
Credit Facility amortization of debt issuance costs	138		138		276		276

- Definition

+ References

+ Details

Senior Notes (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Amortization of debt issuance costs			$ 352	$ 349
Senior Notes
Debt Instrument [Line Items]
Acquisition debt imputed interest expense	$ 4,250	$ 4,250	8,500	8,500
Accretion of debt discount, net of debt premium on senior notes	134	128	266	255
Amortization of debt issuance costs	$ 38	$ 37	$ 76	$ 73

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Trust Investments (Purchases and sales of investments in preneed funeral trusts) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt and Equity Securities, FV-NI [Line Items]
Purchases	$ (2,687)	$ (6,211)	$ (8,750)	$ (10,214)
Sales	$ 2,742	$ 4,608	$ 5,685	$ 19,726

Intangible and Other Non-Current Assets (Tables)

6 Months Ended

Jun. 30, 2024

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

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure

Intangible and other non-current assets are as follows (in thousands):


	June 30, 2024		December 31, 2023
Tradenames	$	28,713	$	28,862
Capitalized commissions on preneed contracts, net of accumulated amortization of $4,199 and $3,788, respectively	4,869		4,678
Internal-use software, net of accumulated amortization of $612 and $444, respectively	4,057		2,422
Prepaid agreements not-to-compete, net of accumulated amortization of $3,309 and $3,158, respectively	1,154		1,335
Other	306		380
Intangible and other non-current assets, net	$	39,099	$	37,677

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The aggregate amortization expense for our capitalized commissions, internal-use software and prepaid agreements as of June 30, 2024 is as follows (in thousands):


	Capitalized Commissions		Internal-use Software		Prepaid Agreements
Years ending December 31,
Remainder of 2024	$	447	$	220	$	230
2025	847		864		390
2026	780		854		262
2027	715		849		142
2028	633		708		78
Thereafter	1,447		562		52
Total amortization expense	$	4,869	$	4,057	$	1,154

Leases - Right-of-use Assets Obtained in Exchange for New Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,023	$ 1,067
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 0	$ 0

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Lease Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease cost	$ 999	$ 917	$ 1,977	$ 1,792
Short-term lease cost	76	92	94	186
Variable lease cost	88	56	192	114
Depreciation of leased assets	126	109	252	217
Interest on lease liabilities	122	103	247	208
Total finance lease cost	248	212	499	425
Total lease cost	$ 1,411	$ 1,277	$ 2,762	$ 2,517

Business Combinations (Narrative) (Details) - Bakersfield, California $ in Millions	Mar. 22, 2023 USD ($) funeral_home cemetary crematory
Business Acquisition [Line Items]
Number of owned and operated funeral homes (in Funeral Homes) \| funeral_home	3
Number of owned and operated cemeteries (in Cemetaries) \| cemetary	2
Number of cremation focused businesses (in crematories) \| crematory	1
Purchase price \| $	$ 44.0

Receivables from Preneed Funeral Trusts (Receivables from preneed funeral trust funds) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Receivables From Preneed Trusts [Abstract]
Preneed trust funds, at cost	$ 22,757	$ 22,196
Less: Allowance for contract cancellation	(683)	(666)
Receivables from preneed trusts, net	$ 22,074	$ 21,530

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,503	$ 1,523
Accounts receivable, net	29,398	27,060
Inventories	8,257	8,347
Prepaid and other current assets	3,965	4,791
Total current assets	43,123	41,721
Preneed cemetery trust investments	100,285	96,374
Preneed funeral trust investments	109,701	107,842
Preneed cemetery receivables, net	45,569	35,575
Receivables from preneed funeral trusts, net	22,074	21,530
Property, plant and equipment, net	280,355	287,484
Cemetery property, net	113,327	114,580
Goodwill	414,895	423,643
Intangible and other non-current assets, net	39,099	37,677
Operating lease right-of-use assets	16,058	16,295
Cemetery perpetual care trust investments	84,780	85,331
Total assets	1,269,266	1,268,052
Current liabilities:
Current portion of debt and lease obligations	3,924	3,842
Accounts payable	16,180	11,866
Accrued and other liabilities	30,655	35,362
Total current liabilities	50,759	51,070
Acquisition debt, net of current portion	5,388	5,461
Credit facility	153,970	177,794
Senior notes	396,247	395,905
Obligations under finance leases, net of current portion	5,304	5,831
Obligations under operating leases, net of current portion	15,263	15,797
Deferred preneed cemetery revenue	65,375	61,048
Deferred preneed funeral revenue	40,386	39,537
Deferred tax liability	50,650	52,127
Other long-term liabilities	1,857	1,855
Deferred preneed cemetery receipts held in trust	100,285	96,374
Deferred preneed funeral receipts held in trust	109,701	107,842
Care trusts’ corpus	86,194	84,351
Total liabilities	1,081,379	1,094,992
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value; 80,000,000 shares authorized and 26,864,187 and 26,627,319 shares issued, respectively and 15,236,369 and 14,999,501 shares outstanding, respectively	269	266
Additional paid-in capital	242,883	241,291
Retained earnings	223,488	210,256
Treasury stock, at cost; 11,627,818 shares	(278,753)	(278,753)
Total stockholders’ equity	187,887	173,060
Total liabilities and stockholders’ equity	$ 1,269,266	$ 1,268,052

Credit Facility and Acquisition Debt (Narrative) (Details)		3 Months Ended		6 Months Ended
	Jul. 07, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023	Jun. 30, 2024 USD ($)	Jun. 30, 2023	Dec. 31, 2023 USD ($)
Debt Covenant To Actual Ratios [Line Items]
Revolving credit facility present accordion provisions		$ 75,000,000.0		$ 75,000,000.0
Deferred payments	$ 2,600,000
Line of Credit \| Prime Rate Option
Debt Covenant To Actual Ratios [Line Items]
Debt instrument, basis spread on variable rate				2.125%
Line of Credit \| Libor Margin Option
Debt Covenant To Actual Ratios [Line Items]
Debt instrument, basis spread on variable rate				3.125%
Revolving Credit Facility \| Credit Agreement 2018
Debt Covenant To Actual Ratios [Line Items]
Long-term Debt		$ 155,000,000.0		$ 155,000,000.0		$ 179,100,000
Minimum \| Deferred Purchase Price Notes
Debt Covenant To Actual Ratios [Line Items]
Debt Instrument, Imputed Interest Rate		6.50%		6.50%
Debt Instrument, Term		9 years
Maximum \| Deferred Purchase Price Notes
Debt Covenant To Actual Ratios [Line Items]
Debt Instrument, Imputed Interest Rate		7.30%		7.30%
Debt Instrument, Term		20 years
Ratio Actual
Debt Covenant To Actual Ratios [Line Items]
Ratio of indebtedness to net capital (in Ratio) (below at March 31, 2015)		5.50		5.50
Term Loan
Debt Covenant To Actual Ratios [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 250,000,000.0		$ 250,000,000.0
Letter of Credit
Debt Covenant To Actual Ratios [Line Items]
Revolving credit facility, maximum borrowing capacity		15,000,000.0		15,000,000.0
Swingline
Debt Covenant To Actual Ratios [Line Items]
Revolving credit facility, maximum borrowing capacity		10,000,000.0		10,000,000.0
Revolving Credit Facility \| Revolving Credit Facility, Secured, Floating Rate \| Line of Credit
Debt Covenant To Actual Ratios [Line Items]
Remaining borrowing capacity		$ 92,400,000		$ 92,400,000
Revolving Credit Facility \| Revolving Credit Facility, Secured, Floating Rate \| Credit Agreement
Debt Covenant To Actual Ratios [Line Items]
Debt Instrument, Interest Rate During Period		8.70%	8.60%	8.80%	8.30%
Revolving Credit Facility \| Ratio Actual \| Revolving Credit Facility, Secured, Floating Rate \| Line of Credit
Debt Covenant To Actual Ratios [Line Items]
Ratio of earnings to fixed cost obligations (in Ratio)		1.20		1.20

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 13,232	$ 17,130
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,664	10,437
Provision for credit losses	1,447	1,344
Stock-based compensation expense	2,671	4,163
Deferred income tax (benefit) expense	(1,477)	7
Amortization of intangibles	669	647
Amortization of debt issuance costs	352	349
Amortization and accretion of debt	266	255
Net loss on divestitures, disposals and impairment charges	1,568	506
(Gain) loss on property damage, net of insurance claims	(417)	36
Gain on sale of excess land	0	(658)
Changes in operating assets and liabilities that provided (used) cash:
Accounts and preneed receivables	(13,939)	(1,694)
Inventories, prepaid and other current assets	1,224	1,011
Intangible and other non-current assets	(2,339)	(1,767)
Preneed funeral and cemetery trust investments	(9,523)	5,341
Accounts payable	3,084	(2,272)
Accrued and other liabilities	(3,999)	(3,328)
Incentive payment from vendor	0	(6,000)
Deferred preneed funeral and cemetery revenue	7,064	8,106
Deferred preneed funeral and cemetery receipts held in trust	10,313	(6,426)
Net cash provided by operating activities	21,860	39,187
Cash flows from investing activities:
Acquisitions of businesses	0	(44,000)
Proceeds from divestitures and sale of other assets	11,174	1,973
Proceeds from insurance claims	314	1,092
Capital expenditures	(7,096)	(8,960)
Net cash provided by (used in) investing activities	4,392	(49,895)
Cash flows from financing activities:
Borrowings from the credit facility	24,800	64,700
Payments against the credit facility	(48,900)	(51,400)
Payments on acquisition debt and obligations under finance leases	(305)	(256)
Proceeds from the exercise of stock options and employee stock purchase plan contributions	1,942	923
Taxes paid on restricted stock vestings and exercise of stock options	(419)	(119)
Dividends paid on common stock	(3,390)	(3,340)
Net cash (used in) provided by financing activities	(26,272)	10,508
Net decrease in cash and cash equivalents	(20)	(200)
Cash and cash equivalents at beginning of period	1,523	1,170
Cash and cash equivalents at end of period	$ 1,503	$ 970

Goodwill

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

GOODWILL

The following table presents changes in goodwill in the accompanying Consolidated Balance Sheet (in thousands):


	June 30, 2024		December 31, 2023
Goodwill at the beginning of the period	$	423,643	$	410,137
Increase in goodwill related to acquisitions	—		13,506
Decrease in goodwill related to divestitures	(8,748)		—

Goodwill at the end of the period	$	414,895	$	423,643

During the six months ended June 30, 2024, we allocated $8.7 million of goodwill to the sale of six funeral homes and one cemetery for a loss recorded in Net loss on divestitures, disposals and impairments charges, of which $7.8 million was allocated to our funeral homes segment and $1.0 million was allocated to our cemetery segment.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 6,259	$ 8,286	$ 13,232	$ 17,130

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Trust Investments (Tables)

6 Months Ended

Jun. 30, 2024

Preneed Trust Investments [Abstract]

Components of preneed cemetery trust investments

The components of Preneed cemetery trust investments on our Consolidated Balance Sheet are as follows (in thousands):


	June 30, 2024		December 31, 2023
Preneed cemetery trust investments, at market value	$	103,516	$	99,461
Less: allowance for contract cancellation	(3,231)		(3,087)
Preneed cemetery trust investments	$	100,285	$	96,374

Cost and fair market values associated with preneed cemetery trust investments

The cost and market values associated with preneed cemetery trust investments at June 30, 2024 are detailed below (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	20,809	$	—	$	—	$	20,809
Fixed income securities:

U.S. agency obligations	2	665		—		(55)		610
Foreign debt	2	8,914		1,464		(11)		10,367
Corporate debt	2	14,280		210		(2,897)		11,593
Preferred stock	2	11,477		503		(1,788)		10,192
Certificates of deposit	2	79		—		(7)		72
Common stock	1	32,774		2,868		(3,265)		32,377
Limited partnership fund		3,675		410		—		4,085
Mutual funds:
Equity	1	944		71		(5)		1,010
Fixed income	2	14,079		56		(2,490)		11,645
Trust securities		$	107,696	$	5,582	$	(10,518)	$	102,760
Accrued investment income		$	756					$	756
Preneed cemetery trust investments								$	103,516
Market value as a percentage of cost								95.4%

The cost and market values associated with preneed cemetery trust investments at December 31, 2023 are detailed below (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	9,643	$	—	$	—	$	9,643
Fixed income securities:
U.S. agency obligations	2	803		1		(51)		753
Foreign debt	2	7,764		1,371		(17)		9,118
Corporate debt	2	15,071		342		(3,657)		11,756
Preferred stock	2	10,965		473		(1,572)		9,866
Certificate of deposit	2	79		—		(7)		72

Common stock	1	43,057		9,466		(7,935)		44,588
Limited partnership fund		3,575		—		(3)		3,572
Mutual funds:
Equity	1	553		10		(30)		533
Fixed income	2	11,369		16		(2,759)		8,626
Trust Securities		$	102,879	$	11,679	$	(16,031)	$	98,527
Accrued investment income		$	934					$	934
Preneed cemetery trust investments								$	99,461
Market value as a percentage of cost								95.8%

Estimated maturities of fixed preneed cemetery trust income securities

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


Due in one year or less	$	137
Due in one to five years	13,451
Due in five to ten years	939
Thereafter	18,307
Total fixed income securities	$	32,834

Schedule of fair market value and unrealized loss on cemetery merchandise and service trust investments

The following table summarizes our fixed income securities (excluding mutual funds) within our preneed cemetery trust investments in an unrealized loss position at June 30, 2024, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):


	June 30, 2024
	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. agency obligations	$	—	$	—	$	610	$	(55)	$	610	$	(55)
Foreign debt	—		—		217		(11)		217		(11)
Corporate debt	3,994		(251)		2,148		(2,646)		6,142		(2,897)
Preferred stock	775		(3)		7,856		(1,785)		8,631		(1,788)
Certificates of deposit	—		—		72		(7)		72		(7)
Total fixed income securities with an unrealized loss	$	4,769	$	(254)	$	10,903	$	(4,504)	$	15,672	$	(4,758)

The following table summarizes our fixed income securities (excluding mutual funds) within our preneed cemetery trust investments in an unrealized loss position at December 31, 2023, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):


	December 31, 2023
	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. agency obligations	$	—	$	—	$	613	$	(51)	$	613	$	(51)
Foreign debt	284		(5)		209		(12)		493		(17)
Corporate debt	666		(62)		4,239		(3,595)		4,905		(3,657)
Preferred stock	45		—		7,821		(1,572)		7,866		(1,572)
Certificates of deposit	—		—		72		(7)		72		(7)
Total fixed income securities with an unrealized loss	$	995	$	(67)	$	12,954	$	(5,237)	$	13,949	$	(5,304)

The following table summarizes our fixed income securities (excluding mutual funds) within our cemetery perpetual care trust investment in an unrealized loss position at June 30, 2024, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):


	June 30, 2024
	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	$	—	$	—	$	175	$	(9)	$	175	$	(9)
Corporate debt	3,196		(202)		1,969		(2,318)		5,165		(2,520)
Preferred stock	589		(2)		6,979		(1,555)		7,568		(1,557)

Total fixed income securities with an unrealized loss	$	3,785	$	(204)	$	9,123	$	(3,882)	$	12,908	$	(4,086)

The following table summarizes our fixed income securities (excluding mutual funds) within our perpetual care trust investment in an unrealized loss position at December 31, 2023, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):


	December 31, 2023
	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	$	440	$	(8)	$	178	$	(10)	$	618	$	(18)
Corporate debt	567		(53)		3,879		(3,314)		4,446		(3,367)
Preferred stock	—		—		7,301		(1,435)		7,301		(1,435)

Total fixed income securities with an unrealized loss	$	1,007	$	(61)	$	11,358	$	(4,759)	$	12,365	$	(4,820)

Preneed cemetery trust investment security transactions

Preneed cemetery trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Investment income	$	844	$	689	$	1,383	$	1,279
Realized gains	924		728		11,500		2,001
Realized losses	(4,747)		(269)		(8,511)		(1,146)
Unrealized gains (losses), net	2,023		3,439		(4,936)		(8,714)
Expenses and taxes	(705)		(316)		(1,339)		(622)
Net change in deferred preneed cemetery receipts held in trust	1,661		(4,271)		1,903		7,202
	$	—	$	—	$	—	$	—

Purchases and sales of investments in preneed cemetary trusts

Purchases and sales of investments in the preneed cemetery trusts are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Purchases	$	(6,784)	$	(2,784)	$	(11,110)	$	(9,138)
Sales	5,177		2,817		21,737		5,862

Components of preneed funeral trust investments

The components of Preneed funeral trust investments on our Consolidated Balance Sheet are as follows (in thousands):


	June 30, 2024		December 31, 2023
Preneed funeral trust investments, at market value	$	113,196	$	111,247
Less: allowance for contract cancellation	(3,495)		(3,405)
Preneed funeral trust investments	$	109,701	$	107,842

Estimated maturities of fixed preneed funeral trust income securities

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


Due in one year or less	$	81
Due in one to five years	12,046
Due in five to ten years	767
Thereafter	16,418
Total fixed income securities	$	29,312

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


Due in one year or less	$	—
Due in one to five years	10,739
Due in five to ten years	881
Thereafter	15,594
Total fixed income securities	$	27,214

Cost and fair market values associated with preneed funeral trust investments

The cost and market values associated with preneed funeral trust investments at June 30, 2024 are detailed below (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	38,395	$	—	$	—	$	38,395
Fixed income securities:
U.S. treasury debt	1	406		—		(37)		369

Foreign debt	2	8,115		1,340		(10)		9,445
Corporate debt	2	12,857		192		(2,545)		10,504
Preferred stock	2	10,144		461		(1,611)		8,994

Common stock	1	28,205		2,505		(2,624)		28,086
Limited partnership fund		3,365		375		—		3,740
Mutual funds:
Equity	1	757		35		(5)		787
Fixed income	2	11,697		48		(2,099)		9,646
Other investments	2	2,560		—		—		2,560
Trust securities		$	116,501	$	4,956	$	(8,931)	$	112,526
Accrued investment income		$	670					$	670
Preneed funeral trust investments								$	113,196
Market value as a percentage of cost								96.6%

The cost and market values associated with preneed funeral trust investments at December 31, 2023 are detailed below (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	26,707	$	—	$	—	$	26,707
Fixed income securities:
U.S. treasury debt	1	451		—		(34)		417
Foreign debt	2	7,300		1,297		(16)		8,581
Corporate debt	2	13,848		323		(3,255)		10,916
Preferred stock	2	9,786		442		(1,468)		8,760

Common stock	1	38,600		8,858		(6,855)		40,603
Limited partnership fund		3,383		—		(2)		3,381
Mutual funds:
Equity	1	401		3		(29)		375
Fixed income	2	9,513		15		(2,383)		7,145
Other investments	2	3,510		—		—		3,510
Trust securities		$	113,499	$	10,938	$	(14,042)	$	110,395
Accrued investment income		$	852					$	852
Preneed funeral trust investments								$	111,247
Market value as a percentage of cost								97.3%

The following table reflects the cost and market values associated with the trust investments held in cemetery perpetual care trust funds at June 30, 2024 (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	16,604	$	—	$	—	$	16,604
Fixed income securities:

Foreign debt	2	7,473		1,191		(9)		8,655
Corporate debt	2	12,044		210		(2,520)		9,734
Preferred stock	2	9,977		405		(1,557)		8,825

Common stock	1	26,513		2,367		(2,727)		26,153
Limited partnership fund		2,960		330		—		3,290
Mutual funds:
Equity	1	762		54		(4)		812
Fixed income	2	12,019		76		(2,045)		10,050

Trust securities		$	88,352	$	4,633	$	(8,862)	$	84,123
Accrued investment income		$	657					$	657
Cemetery perpetual care investments								$	84,780
Market value as a percentage of cost								95.2%

The following table reflects the cost and market values associated with the trust investments held in cemetery perpetual care trust funds at December 31, 2023 (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	6,688	$	—	$	—	$	6,688
Fixed income securities:
Foreign debt	2	7,101		1,177		(18)		8,260
Corporate debt	2	13,491		334		(3,367)		10,458
Preferred stock	2	10,723		415		(1,435)		9,703

Common stock	1	36,413		8,098		(6,580)		37,931
Limited partnership fund		3,042		—		(2)		3,040
Mutual funds:
Equity	1	467		5		(26)		446
Fixed income	2	10,326		14		(2,382)		7,958
Trust securities		$	88,251	$	10,043	$	(13,810)	$	84,484
Accrued investment income		$	847					$	847
Cemetery perpetual care investments								$	85,331
Market value as a percentage of cost								95.7%

Schedule of fair market value and unrealized loss on preneed funeral trust investments

The following table summarizes our fixed income securities (excluding mutual funds) within our preneed funeral trust investment in an unrealized loss position at June 30, 2024, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):


	June 30, 2024
	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	$	—	$	—	$	369	$	(37)	$	369	$	(37)
Foreign debt	—		—		199		(10)		199		(10)
Corporate debt	3,633		(230)		1,880		(2,315)		5,513		(2,545)
Preferred stock	670		(2)		6,895		(1,609)		7,565		(1,611)

Total fixed income securities with an unrealized loss	$	4,303	$	(232)	$	9,343	$	(3,971)	$	13,646	$	(4,203)

The following table summarizes our fixed income securities (excluding mutual funds) within our preneed funeral trust investment in an unrealized loss position at December 31, 2023, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):


	December 31, 2023
	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	$	—	$	—	$	371	$	(34)	$	371	$	(34)
Foreign debt	269		(5)		198		(11)		467		(16)
Corporate debt	630		(59)		3,802		(3,196)		4,432		(3,255)
Preferred stock	—		—		7,078		(1,468)		7,078		(1,468)

Total fixed income securities with an unrealized loss	$	899	$	(64)	$	11,449	$	(4,709)	$	12,348	$	(4,773)

Preneed funeral trust investment security transactions

Preneed funeral trust investment security transactions recorded in Other, net on the Consolidated Statements of Operations are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Investment income	$	675	$	577	$	1,111	$	1,063
Realized gains	846		703		10,626		1,943
Realized losses	(4,295)		(260)		(7,504)		(1,097)
Unrealized gains (losses), net	1,873		3,380		(3,975)		(7,205)
Expenses and taxes	(296)		(202)		(667)		(394)
Net change in deferred preneed funeral receipts held in trust	1,197		(4,198)		409		5,690
	$	—	$	—	$	—	$	—

Purchases and sales of investments in preneed funeral trusts

Purchases and sales of investments in the preneed funeral trusts are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Purchases	$	(6,211)	$	(2,687)	$	(10,214)	$	(8,750)
Sales	4,608		2,742		19,726		5,685

Purchases and sales of investments in the cemetery perpetual care trusts are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Purchases	$	(5,464)	$	(2,310)	$	(9,113)	$	(6,711)
Sales	4,469		8,694		19,130		10,904

Components of care trusts' corpus

Care trusts’ corpus on our Consolidated Balance Sheet represents the corpus of those trusts plus undistributed income. The components of Care trusts’ corpus are as follows (in thousands):


	June 30, 2024		December 31, 2023
Cemetery perpetual care trust investments, at market value	$	84,780	$	85,331
Obligations due to (due from) trust	1,414		(980)
Care trusts’ corpus	$	86,194	$	84,351

Cemetery perpetual care trust investment security transactions recorded on Consolidated Statements of Operations

Cemetery perpetual care trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Realized gains	$	113	$	671	$	1,419	$	831
Realized losses	(663)		(293)		(1,089)		(470)
Unrealized gains (losses), net	1,840		1,746		(4,229)		(7,327)
Net change in care trusts’ corpus	(1,290)		(2,124)		3,899		6,966
Total	$	—	$	—	$	—	$	—

Cemetery perpetual care trust investment security transactions recorded in Other revenue are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Investment income	$	3,495	$	2,881	$	6,624	$	6,078
Realized losses, net	(751)		(18)		(1,125)		(474)
Total	$	2,744	$	2,863	$	5,499	$	5,604

Supplementary Data (Tables)

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplementary Balance Sheet Disclosures

The following table presents the detail of certain balance sheet accounts (in thousands):


	June 30, 2024		December 31, 2023
Prepaid and other current assets:
Prepaid expenses	$	3,135	$	3,779

Federal income tax receivable	316		454
State income tax receivable	378		421
Other current assets	136		137
Total prepaid and other current assets	$	3,965	$	4,791

Current portion of debt and lease obligations:
Acquisition debt	$	571	$	537
Finance lease obligations	510		592
Operating lease obligations	2,843		2,713
Total current portion of debt and lease obligations	$	3,924	$	3,842

Accrued and other liabilities:
Incentive compensation	$	7,075	$	13,156
Salaries and wages	5,226		2,285
Vacation	3,702		3,647
Unrecognized tax benefit	3,427		3,382
Insurance	3,186		3,017

Interest	2,362		2,409
Ad valorem and franchise taxes	1,785		2,395
Commissions	1,195		1,144

Employee meetings and award trips	870		1,185
Perpetual care trust payable	361		1,358

Other accrued liabilities	1,466		1,384
Total accrued and other liabilities	$	30,655	$	35,362

Other long-term liabilities:
Incentive compensation	$	1,162	$	1,855

Other long-term liabilities	695		—
Total other long-term liabilities	$	1,857	$	1,855

Supplemental Disclosure of the Consolidated Statements of Cash Flows

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


	Six months ended June 30,
	2024		2023
Cash paid for interest	$	16,258	$	17,056
Cash paid for taxes	9,200		7,329

Trust Investments

6 Months Ended

Jun. 30, 2024

Preneed Trust Investments [Abstract]

Trust Investments

TRUST INVESTMENTS

Preneed trust investments represent trust fund assets that we are generally permitted to withdraw as the services and merchandise are provided to customers. Preneed funeral and cemetery contracts are secured by payments from customers, less amounts not required by law to be deposited into trust. These earnings are recognized in Other revenue on our Consolidated Statements of Operations, when a service is performed or merchandise is delivered. Trust management fees charged by our wholly-owned registered investment advisory firm are included as revenue in the period in which they are earned. Our investments are diversified across multiple industry segments using a balanced allocation strategy to minimize long-term risk. We do not intend to sell and it is likely that we will not be required to sell the securities prior to their anticipated recovery.

Cemetery perpetual care trust investments represent a portion of the proceeds from the sale of cemetery property interment rights that we are required by various state laws to deposit 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 in Other revenue.

Changes in the fair value of our trust fund assets (Preneed funeral, cemetery and perpetual care trust investments) are offset by changes in the fair value of our trust fund liabilities (Deferred preneed funeral and cemetery receipts held in trust and Care trusts’ corpus) and reflected in Other, net. There is no impact on earnings until such time the services are performed or the

merchandise is delivered, causing the contract to be withdrawn from the trust in accordance with state regulations and the gain or loss is allocated to the contract.

We rely on our trust investments to provide funding for the various contractual obligations that arise upon maturity of the underlying preneed contracts. Because of the long-term relationship between the establishment of trust investments and the required performance of the underlying contractual obligations, the impact of current market conditions that may exist at any given time is not necessarily indicative of our ability to generate profit on our future performance obligations.

Preneed Cemetery Trust Investments

The components of Preneed cemetery trust investments on our Consolidated Balance Sheet are as follows (in thousands):


	June 30, 2024		December 31, 2023
Preneed cemetery trust investments, at market value	$	103,516	$	99,461
Less: allowance for contract cancellation	(3,231)		(3,087)
Preneed cemetery trust investments	$	100,285	$	96,374

The cost and market values associated with preneed cemetery trust investments at June 30, 2024 are detailed below (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	20,809	$	—	$	—	$	20,809
Fixed income securities:

U.S. agency obligations	2	665		—		(55)		610
Foreign debt	2	8,914		1,464		(11)		10,367
Corporate debt	2	14,280		210		(2,897)		11,593
Preferred stock	2	11,477		503		(1,788)		10,192
Certificates of deposit	2	79		—		(7)		72
Common stock	1	32,774		2,868		(3,265)		32,377
Limited partnership fund		3,675		410		—		4,085
Mutual funds:
Equity	1	944		71		(5)		1,010
Fixed income	2	14,079		56		(2,490)		11,645
Trust securities		$	107,696	$	5,582	$	(10,518)	$	102,760
Accrued investment income		$	756					$	756
Preneed cemetery trust investments								$	103,516
Market value as a percentage of cost								95.4%

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


Due in one year or less	$	137
Due in one to five years	13,451
Due in five to ten years	939
Thereafter	18,307
Total fixed income securities	$	32,834

The cost and market values associated with preneed cemetery trust investments at December 31, 2023 are detailed below (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	9,643	$	—	$	—	$	9,643
Fixed income securities:
U.S. agency obligations	2	803		1		(51)		753
Foreign debt	2	7,764		1,371		(17)		9,118
Corporate debt	2	15,071		342		(3,657)		11,756
Preferred stock	2	10,965		473		(1,572)		9,866
Certificate of deposit	2	79		—		(7)		72

Common stock	1	43,057		9,466		(7,935)		44,588
Limited partnership fund		3,575		—		(3)		3,572
Mutual funds:
Equity	1	553		10		(30)		533
Fixed income	2	11,369		16		(2,759)		8,626
Trust Securities		$	102,879	$	11,679	$	(16,031)	$	98,527
Accrued investment income		$	934					$	934
Preneed cemetery trust investments								$	99,461
Market value as a percentage of cost								95.8%


	June 30, 2024
	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. agency obligations	$	—	$	—	$	610	$	(55)	$	610	$	(55)
Foreign debt	—		—		217		(11)		217		(11)
Corporate debt	3,994		(251)		2,148		(2,646)		6,142		(2,897)
Preferred stock	775		(3)		7,856		(1,785)		8,631		(1,788)
Certificates of deposit	—		—		72		(7)		72		(7)
Total fixed income securities with an unrealized loss	$	4,769	$	(254)	$	10,903	$	(4,504)	$	15,672	$	(4,758)


	December 31, 2023
	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. agency obligations	$	—	$	—	$	613	$	(51)	$	613	$	(51)
Foreign debt	284		(5)		209		(12)		493		(17)
Corporate debt	666		(62)		4,239		(3,595)		4,905		(3,657)
Preferred stock	45		—		7,821		(1,572)		7,866		(1,572)
Certificates of deposit	—		—		72		(7)		72		(7)
Total fixed income securities with an unrealized loss	$	995	$	(67)	$	12,954	$	(5,237)	$	13,949	$	(5,304)

Preneed cemetery trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Investment income	$	844	$	689	$	1,383	$	1,279
Realized gains	924		728		11,500		2,001
Realized losses	(4,747)		(269)		(8,511)		(1,146)
Unrealized gains (losses), net	2,023		3,439		(4,936)		(8,714)
Expenses and taxes	(705)		(316)		(1,339)		(622)
Net change in deferred preneed cemetery receipts held in trust	1,661		(4,271)		1,903		7,202
	$	—	$	—	$	—	$	—

Purchases and sales of investments in the preneed cemetery trusts are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Purchases	$	(6,784)	$	(2,784)	$	(11,110)	$	(9,138)
Sales	5,177		2,817		21,737		5,862

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.

The components of Preneed funeral trust investments on our Consolidated Balance Sheet are as follows (in thousands):


	June 30, 2024		December 31, 2023
Preneed funeral trust investments, at market value	$	113,196	$	111,247
Less: allowance for contract cancellation	(3,495)		(3,405)
Preneed funeral trust investments	$	109,701	$	107,842

The cost and market values associated with preneed funeral trust investments at June 30, 2024 are detailed below (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	38,395	$	—	$	—	$	38,395
Fixed income securities:
U.S. treasury debt	1	406		—		(37)		369

Foreign debt	2	8,115		1,340		(10)		9,445
Corporate debt	2	12,857		192		(2,545)		10,504
Preferred stock	2	10,144		461		(1,611)		8,994

Common stock	1	28,205		2,505		(2,624)		28,086
Limited partnership fund		3,365		375		—		3,740
Mutual funds:
Equity	1	757		35		(5)		787
Fixed income	2	11,697		48		(2,099)		9,646
Other investments	2	2,560		—		—		2,560
Trust securities		$	116,501	$	4,956	$	(8,931)	$	112,526
Accrued investment income		$	670					$	670
Preneed funeral trust investments								$	113,196
Market value as a percentage of cost								96.6%

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


Due in one year or less	$	81
Due in one to five years	12,046
Due in five to ten years	767
Thereafter	16,418
Total fixed income securities	$	29,312

The cost and market values associated with preneed funeral trust investments at December 31, 2023 are detailed below (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	26,707	$	—	$	—	$	26,707
Fixed income securities:
U.S. treasury debt	1	451		—		(34)		417
Foreign debt	2	7,300		1,297		(16)		8,581
Corporate debt	2	13,848		323		(3,255)		10,916
Preferred stock	2	9,786		442		(1,468)		8,760

Common stock	1	38,600		8,858		(6,855)		40,603
Limited partnership fund		3,383		—		(2)		3,381
Mutual funds:
Equity	1	401		3		(29)		375
Fixed income	2	9,513		15		(2,383)		7,145
Other investments	2	3,510		—		—		3,510
Trust securities		$	113,499	$	10,938	$	(14,042)	$	110,395
Accrued investment income		$	852					$	852
Preneed funeral trust investments								$	111,247
Market value as a percentage of cost								97.3%


	June 30, 2024
	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	$	—	$	—	$	369	$	(37)	$	369	$	(37)
Foreign debt	—		—		199		(10)		199		(10)
Corporate debt	3,633		(230)		1,880		(2,315)		5,513		(2,545)
Preferred stock	670		(2)		6,895		(1,609)		7,565		(1,611)

Total fixed income securities with an unrealized loss	$	4,303	$	(232)	$	9,343	$	(3,971)	$	13,646	$	(4,203)


	December 31, 2023
	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	$	—	$	—	$	371	$	(34)	$	371	$	(34)
Foreign debt	269		(5)		198		(11)		467		(16)
Corporate debt	630		(59)		3,802		(3,196)		4,432		(3,255)
Preferred stock	—		—		7,078		(1,468)		7,078		(1,468)

Total fixed income securities with an unrealized loss	$	899	$	(64)	$	11,449	$	(4,709)	$	12,348	$	(4,773)

Preneed funeral trust investment security transactions recorded in Other, net on the Consolidated Statements of Operations are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Investment income	$	675	$	577	$	1,111	$	1,063
Realized gains	846		703		10,626		1,943
Realized losses	(4,295)		(260)		(7,504)		(1,097)
Unrealized gains (losses), net	1,873		3,380		(3,975)		(7,205)
Expenses and taxes	(296)		(202)		(667)		(394)
Net change in deferred preneed funeral receipts held in trust	1,197		(4,198)		409		5,690
	$	—	$	—	$	—	$	—

Purchases and sales of investments in the preneed funeral trusts are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Purchases	$	(6,211)	$	(2,687)	$	(10,214)	$	(8,750)
Sales	4,608		2,742		19,726		5,685

Cemetery Perpetual Care Trust Investments

Care trusts’ corpus on our Consolidated Balance Sheet represents the corpus of those trusts plus undistributed income. The components of Care trusts’ corpus are as follows (in thousands):


	June 30, 2024		December 31, 2023
Cemetery perpetual care trust investments, at market value	$	84,780	$	85,331
Obligations due to (due from) trust	1,414		(980)
Care trusts’ corpus	$	86,194	$	84,351

The following table reflects the cost and market values associated with the trust investments held in cemetery perpetual care trust funds at June 30, 2024 (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	16,604	$	—	$	—	$	16,604
Fixed income securities:

Foreign debt	2	7,473		1,191		(9)		8,655
Corporate debt	2	12,044		210		(2,520)		9,734
Preferred stock	2	9,977		405		(1,557)		8,825

Common stock	1	26,513		2,367		(2,727)		26,153
Limited partnership fund		2,960		330		—		3,290
Mutual funds:
Equity	1	762		54		(4)		812
Fixed income	2	12,019		76		(2,045)		10,050

Trust securities		$	88,352	$	4,633	$	(8,862)	$	84,123
Accrued investment income		$	657					$	657
Cemetery perpetual care investments								$	84,780
Market value as a percentage of cost								95.2%

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


Due in one year or less	$	—
Due in one to five years	10,739
Due in five to ten years	881
Thereafter	15,594
Total fixed income securities	$	27,214

The following table reflects the cost and market values associated with the trust investments held in cemetery perpetual care trust funds at December 31, 2023 (in thousands):


	Fair Value Hierarchy Level	Cost		Unrealized Gains		Unrealized Losses		Fair Market Value
Cash and money market accounts	1	$	6,688	$	—	$	—	$	6,688
Fixed income securities:
Foreign debt	2	7,101		1,177		(18)		8,260
Corporate debt	2	13,491		334		(3,367)		10,458
Preferred stock	2	10,723		415		(1,435)		9,703

Common stock	1	36,413		8,098		(6,580)		37,931
Limited partnership fund		3,042		—		(2)		3,040
Mutual funds:
Equity	1	467		5		(26)		446
Fixed income	2	10,326		14		(2,382)		7,958
Trust securities		$	88,251	$	10,043	$	(13,810)	$	84,484
Accrued investment income		$	847					$	847
Cemetery perpetual care investments								$	85,331
Market value as a percentage of cost								95.7%


	June 30, 2024
	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	$	—	$	—	$	175	$	(9)	$	175	$	(9)
Corporate debt	3,196		(202)		1,969		(2,318)		5,165		(2,520)
Preferred stock	589		(2)		6,979		(1,555)		7,568		(1,557)

Total fixed income securities with an unrealized loss	$	3,785	$	(204)	$	9,123	$	(3,882)	$	12,908	$	(4,086)


	December 31, 2023
	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	$	440	$	(8)	$	178	$	(10)	$	618	$	(18)
Corporate debt	567		(53)		3,879		(3,314)		4,446		(3,367)
Preferred stock	—		—		7,301		(1,435)		7,301		(1,435)

Total fixed income securities with an unrealized loss	$	1,007	$	(61)	$	11,358	$	(4,759)	$	12,365	$	(4,820)

Cemetery perpetual care trust investment security transactions recorded in Other, net on our Consolidated Statements of Operations are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Realized gains	$	113	$	671	$	1,419	$	831
Realized losses	(663)		(293)		(1,089)		(470)
Unrealized gains (losses), net	1,840		1,746		(4,229)		(7,327)
Net change in care trusts’ corpus	(1,290)		(2,124)		3,899		6,966
Total	$	—	$	—	$	—	$	—

Cemetery perpetual care trust investment security transactions recorded in Other revenue are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Investment income	$	3,495	$	2,881	$	6,624	$	6,078
Realized losses, net	(751)		(18)		(1,125)		(474)
Total	$	2,744	$	2,863	$	5,499	$	5,604

Purchases and sales of investments in the cemetery perpetual care trusts are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Purchases	$	(5,464)	$	(2,310)	$	(9,113)	$	(6,711)
Sales	4,469		8,694		19,130		10,904

Intangible and Other Non-Current Assets - Aggregate amortization expense for our intangible assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Capitalized Commissions
Finite-Lived Intangible Assets [Line Items]
Remainder of 2024	$ 447
2025	847
2026	780
2027	715
2028	633
Thereafter	1,447
Total amortization expense	4,869	$ 4,678
Prepaid Agreements
Finite-Lived Intangible Assets [Line Items]
Remainder of 2024	230
2025	390
2026	262
2027	142
2028	78
Thereafter	52
Total amortization expense	1,154	1,335
Internal-use Software
Finite-Lived Intangible Assets [Line Items]
Remainder of 2024	220
2025	864
2026	854
2027	849
2028	708
Thereafter	562
Total amortization expense	$ 4,057	$ 2,422

Receivables (Aging of past due financing receivables) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Financing Receivable Recorded Investment Past Due [Line Items]
Total Financing Receivables	$ 90,846
Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,961
Financial Asset, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	961
Financing Receivables, 90 to 120 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	353
Financing Receivables, Greater Than 120 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,536
Financial Asset, Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	8,811
Financial Asset, Not Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	82,035
Recognized revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Financing Receivables	69,741
Recognized revenue \| Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,379
Recognized revenue \| Financial Asset, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	782
Recognized revenue \| Financing Receivables, 90 to 120 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	277
Recognized revenue \| Financing Receivables, Greater Than 120 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	3,339
Recognized revenue \| Financial Asset, Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	6,777
Recognized revenue \| Financial Asset, Not Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	62,964
Deferred revenue
Financing Receivable Recorded Investment Past Due [Line Items]
Total Financing Receivables	21,105
Deferred revenue \| Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	582
Deferred revenue \| Financial Asset, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	179
Deferred revenue \| Financing Receivables, 90 to 120 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	76
Deferred revenue \| Financing Receivables, Greater Than 120 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,197
Deferred revenue \| Financial Asset, Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,034
Deferred revenue \| Financial Asset, Not Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 19,071

Stockholders' Equity

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Restricted Stock

Restricted stock activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Granted(1)	—	$	—	—	$	—	156,630	$	3,834	142,020	$	4,634
Returned for payroll taxes	39	$	1	39	$	1	16,354	$	419	1,473	$	50
Cancelled	—	$	—	776	$	27	26,240	$	841	1,826	$	61

(1)

We recorded stock-based compensation expense, which is included in General, administrative and other expenses, for restricted stock awards of $0.6 million and $0.4 million, for the three months ended June 30, 2024 and 2023, respectively, and $1.1 million and $0.6 million for the six months ended June 30, 2024 and 2023, respectively.

Stock Options

Stock option grants and cancellations are as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Granted(1)	—	$	—	—	$	—	370,590	$	3,830	214,191	$	2,506


Cancelled	193,048	$	2,095	13,810	$	152	487,776	$	5,852	101,850	$	1,334

(1)

The fair value of the options granted during the six months ended June 30, 2024 was estimated using the Black-Scholes option pricing model with the following assumptions:


Grant Date												February 21, 2024
Expected holding period (years)												6.00
Awards granted												370,590
Dividend yield												1.79%
Expected volatility												43.59%
Risk-free interest rate												4.31%
Black-Scholes value												$10.34

Additional stock option activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Cash		Shares	Cash		Shares	Cash		Shares	Cash
Exercised(1)	50,000	$	1,271	17,300	N/A		50,000	$	1,271	29,300	N/A
Returned for option price(2)	—	$	—	12,652	$	—	—	$	—	22,797	$	—
Returned for payroll taxes(3)	—	$	—	736	$	20	—	$	—	1,465	$	41



(1)			Stock options exercised during the three months ended June 30, 2024 and 2023 had a weighted average exercise price of $25.43 and $20.06 with an aggregate intrinsic value of $0.1 million and $0.2 million, respectively. Stock options exercised during the six months ended June 30, 2024 and 2023 had a weighted average exercise price of $25.43 and $22.26 with an aggregate intrinsic value of $0.1 million and $0.3 million, respectively.
(2)			Represents shares withheld/cash received for the payment of the option price.
(3)			Represents shares withheld/cash paid for the payment of payroll taxes.

We recorded stock-based compensation expense, which is included in General, administrative and other expenses, for stock options of $0.8 million and $0.7 million, for the three months ended June 30, 2024 and 2023, respectively, and $1.0 million and $1.4 million for the six months ended June 30, 2024 and 2023, respectively.

Performance Awards

Performance award activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value

Cancelled	—	$	—	2,795	$	27	80,276	$	871	40,181	$	1,012

We recorded stock-based compensation expense, which is included in General, administrative and other expenses, for performance awards of $0.5 million and $0.7 million, for the three months ended June 30, 2024 and 2023, respectively, and $0.1 million and $0.7 million for six months ended June 30, 2024 and 2023, respectively.

Employee Stock Purchase Plan

ESPP activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Price		Shares	Price		Shares	Price		Shares	Price
ESPP	15,270	$	21.26	16,386	$	24.28	31,566	$	21.26	38,042	$	24.28

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


			2024
Dividend yield			1.84%
Expected volatility			41.15%
Risk-free interest rate			5.46%, 5.24%, 5.02%, 4.80%
Expected life (years)			0.25, 0.50, 0.75, 1.00

We recorded stock-based compensation expense, which is included in General, administrative and other expenses and Regional and unallocated funeral and cemetery costs, for the ESPP totaling $0.1 million and $0.2 million for the three months ended June 30, 2024 and 2023, respectively, and $0.3 million and $0.4 million for the six months ended June 30, 2024 and 2023, respectively.

Common Stock

Former Employee

Common stock activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Granted(1)	—	$	—	—	$	—	—	$	—	30,000	$	826
Returned for payroll taxes	—	$	—	—	$	—	—	$	—	1,001	$	28

(1)

We recorded stock-based compensation expense, which is included in General, administrative and other expenses, for common stock awards of $0.8 million, for the six months ended June 30, 2023.

Good To Great Incentive Program

Common stock issued to certain employees under this incentive program is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Granted(1)	—	$	—	—	$	—	31,470	$	790	8,444	$	276

(1)

Common stock granted during the six months ended June 30, 2024 and 2023 had a grant date stock price of $25.08 and $32.69, respectively.

Non-Employee Director and Board Advisor Compensation

On April 2, 2024, the Board of Directors (the “Board”) of the Company revised the Director Compensation Policy to provide that each independent director is entitled to a quarterly retainer of $37,500 payable in cash and/or unrestricted shares of our common stock at the end of each quarter. The chair of the Board, so long as he or she is an independent director, and the chair of our Audit Committee shall be entitled to an additional annual retainer of $20,000, payable in quarterly installments of $5,000 each at the end of each quarter, the chair of our Compensation Committee is entitled to an additional annual retainer of $15,000, payable in quarterly installments of $3,750 at the end of each quarter, and the chair of our Corporate Governance Committee is entitled to an additional annual retainer of $10,000, payable in quarterly installments of $2,500 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 unrestricted 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.

On May 14, 2024, the Board elected Julie Sanders to serve as chair of the Board’s Corporate Governance Committee, effective on that date, which was a result of the previous announcement of Chad Fargason, the prior chair of the Corporate Governance Committee, being elected to serve as the Company’s Non-Executive Chairman of the Board, effective March 7, 2024.

Non-Employee Director and Board Advisor common stock activity is as follows (in thousands, except shares):


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Board of Directors(1)	5,427	$	146	1,077	$	35	9,426	$	254	4,595	$	142
Advisor to the Board(1)	186	$	5	153	$	5	370	$	10	316	$	10

(1)

We recorded compensation expense, which is included in General, administrative and other expenses, related to annual retainers, including the value of stock granted to non-employee directors and an advisor to our Board, of $0.2 million for both the three months ended June 30, 2024, and 2023 and $0.7 million and $0.4 million for the six months ended June 30, 2024 and 2023, respectively.

Share Repurchase

We did not repurchase any shares during the three and six months ended June 30, 2024 and 2023. At June 30, 2024, our share repurchase program had $48.9 million authorized for repurchases.

Cash Dividends

Our Board declared the following dividends payable on the dates below (in thousands, except per share amounts):


2024	Per Share		Dollar Value
March 1st	$	0.1125	$	1,686
June 1st	$	0.1125	$	1,704


2023	Per Share		Dollar Value
March 1st	$	0.1125	$	1,661
June 1st	$	0.1125	$	1,679

Divested Operations (Details) $ in Thousands	3 Months Ended		6 Months Ended
Divested Operations (Details) $ in Thousands	Jun. 30, 2024 divestiture	Jun. 30, 2023 divestiture	Jun. 30, 2024 USD ($) divestiture	Jun. 30, 2023 USD ($) divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestitures and sale of other assets \| $			$ 11,174	$ 1,973
Funeral
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses merged	1	1
Number of businesses sold			6	1
Proceeds from divestitures and sale of other assets \| $			$ 10,900	$ 800
Cemetery
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses sold			1	2

Trust Investments (Cost and fair market values associated with the trust investments held in perpetual care trust) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Perpetual Care Trust Invesments
Gain (Loss) on Securities [Line Items]
Cost	$ 88,352	$ 88,251
Unrealized Gains	4,633	10,043
Unrealized Losses	(8,862)	(13,810)
Fair Market Value	84,123	84,484
Preneed cemetery trust investments	$ 84,780	$ 85,331
Preneed cemetery trust investments, fair market value as a percentage of cost (in Percent)	95.20%	95.70%
Perpetual Care Trust Invesments \| Accrued investment income
Gain (Loss) on Securities [Line Items]
Cost	$ 657	$ 847
Fair Market Value	657	847
Preneed Funeral Trust Investments
Gain (Loss) on Securities [Line Items]
Cost	116,501	113,499
Unrealized Gains	4,956	10,938
Unrealized Losses	(8,931)	(14,042)
Fair Market Value	112,526	110,395
Preneed cemetery trust investments	$ 113,196	$ 111,247
Preneed cemetery trust investments, fair market value as a percentage of cost (in Percent)	96.60%	97.30%
Preneed Funeral Trust Investments \| Accrued investment income
Gain (Loss) on Securities [Line Items]
Cost	$ 670	$ 852
Fair Market Value	670	852
Fair Value, Inputs, Level 1 \| Perpetual Care Trust Invesments \| Cash and money market accounts
Gain (Loss) on Securities [Line Items]
Cost	16,604	6,688
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	16,604	6,688
Fair Value, Inputs, Level 1 \| Perpetual Care Trust Invesments \| Common stock
Gain (Loss) on Securities [Line Items]
Cost	26,513	36,413
Unrealized Gains	2,367	8,098
Unrealized Losses	(2,727)	(6,580)
Fair Market Value	26,153	37,931
Fair Value, Inputs, Level 1 \| Perpetual Care Trust Invesments \| Limited partnership fund
Gain (Loss) on Securities [Line Items]
Cost	2,960	3,042
Unrealized Gains	330	0
Unrealized Losses	0	(2)
Fair Market Value	3,290	3,040
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Cash and money market accounts
Gain (Loss) on Securities [Line Items]
Cost	38,395	26,707
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	38,395	26,707
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Common stock
Gain (Loss) on Securities [Line Items]
Cost	28,205	38,600
Unrealized Gains	2,505	8,858
Unrealized Losses	(2,624)	(6,855)
Fair Market Value	28,086	40,603
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Equity
Gain (Loss) on Securities [Line Items]
Cost		401
Unrealized Gains		3
Unrealized Losses		(29)
Fair Market Value		375
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Limited partnership fund
Gain (Loss) on Securities [Line Items]
Cost	3,365	3,383
Unrealized Gains	375	0
Unrealized Losses	0	(2)
Fair Market Value	3,740	3,381
Fair Value, Inputs, Level 2 \| Perpetual Care Trust Invesments \| Foreign debt
Gain (Loss) on Securities [Line Items]
Cost	7,473	7,101
Unrealized Gains	1,191	1,177
Unrealized Losses	(9)	(18)
Fair Market Value	8,655	8,260
Fair Value, Inputs, Level 2 \| Perpetual Care Trust Invesments \| Corporate debt
Gain (Loss) on Securities [Line Items]
Cost	12,044	13,491
Unrealized Gains	210	334
Unrealized Losses	(2,520)	(3,367)
Fair Market Value	9,734	10,458
Fair Value, Inputs, Level 2 \| Perpetual Care Trust Invesments \| Preferred stock
Gain (Loss) on Securities [Line Items]
Cost	9,977	10,723
Unrealized Gains	405	415
Unrealized Losses	(1,557)	(1,435)
Fair Market Value	8,825	9,703
Fair Value, Inputs, Level 2 \| Perpetual Care Trust Invesments \| Fixed Income Securities
Gain (Loss) on Securities [Line Items]
Cost		467
Unrealized Gains		5
Unrealized Losses		(26)
Fair Market Value		446
Fair Value, Inputs, Level 2 \| Perpetual Care Trust Invesments \| Other Investments
Gain (Loss) on Securities [Line Items]
Cost	12,019	10,326
Unrealized Gains	76	14
Unrealized Losses	(2,045)	(2,382)
Fair Market Value	10,050	7,958
Fair Value, Inputs, Level 2 \| Perpetual Care Trust Invesments \| Equity
Gain (Loss) on Securities [Line Items]
Cost	762
Unrealized Gains	54
Unrealized Losses	(4)
Fair Market Value	812
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Foreign debt
Gain (Loss) on Securities [Line Items]
Cost	8,115	7,300
Unrealized Gains	1,340	1,297
Unrealized Losses	(10)	(16)
Fair Market Value	9,445	8,581
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Corporate debt
Gain (Loss) on Securities [Line Items]
Cost	12,857	13,848
Unrealized Gains	192	323
Unrealized Losses	(2,545)	(3,255)
Fair Market Value	10,504	10,916
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Preferred stock
Gain (Loss) on Securities [Line Items]
Cost	10,144	9,786
Unrealized Gains	461	442
Unrealized Losses	(1,611)	(1,468)
Fair Market Value	8,994	8,760
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Fixed Income Securities
Gain (Loss) on Securities [Line Items]
Cost	11,697	9,513
Unrealized Gains	48	15
Unrealized Losses	(2,099)	(2,383)
Fair Market Value	9,646	7,145
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Other Investments
Gain (Loss) on Securities [Line Items]
Cost	2,560	3,510
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	2,560	$ 3,510
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Equity
Gain (Loss) on Securities [Line Items]
Cost	757
Unrealized Gains	35
Unrealized Losses	(5)
Fair Market Value	$ 787

Divested Operations (Tables)

6 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Operating Results And Gain On Discontinued Operations

The operating results of these divested funeral homes and cemeteries are reflected on our Consolidated Statements of Operations as shown in the table below (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Revenue	$	121	$	—	$	1,272	$	66

Operating income (loss)	33		(2)		151		24
Loss on divestitures(1)	(8)		—		(1,509)		(82)
Income tax (expense) benefit	(8)		1		451		17
Net gain (loss) from divested operations, after tax	$	17	$	(1)	$	(907)	$	(41)

(1)

Loss on divestitures is recorded in Net loss on divestitures, disposals and impairments charges on our Consolidated Statements of Operations.

Subsequent Events (Tables)

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Schedule of Long-term Debt

Our Credit Facility and acquisition debt consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Credit Facility	$	155,000	$	179,100
Debt issuance costs, net of accumulated amortization of $2,754 and $2,478, respectively	(1,030)		(1,306)
Total Credit Facility	$	153,970	$	177,794

Acquisition debt	$	5,959	$	5,998
Less: current portion	(571)		(537)
Total acquisition debt, net of current portion	$	5,388	$	5,461

The imputed interest expense related to our acquisition debt is as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Acquisition debt imputed interest expense	$	103	$	71	$	207	$	142

The interest expense and amortization of debt discount and debt issuance costs related to our Senior Notes are as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Senior Notes interest expense	$	4,250	$	4,250	$	8,500	$	8,500
Senior Notes amortization of debt discount	134		128		266		255

Senior Notes amortization of debt issuance costs	38		37		76		73


Applicable Rate
Pricing Level	Total Leverage Ratio	Term SOFR / Letter of Credit Fees	Base Rate
1	< 3.00:1.00	1.625%	0.625%
2	< 3.50:1.00 but ≥ 3.00:1.00	1.875%	0.875%
3	< 4.25:1.00 but ≥ 3.50:1.00	2.125%	1.125%
4	≥ 4.25:1.00	2.500%	1.500%

- Definition

+ References

+ Details

Stockholders' Equity (ESPP) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended					6 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock from employee stock purchase plan, shares		15,270			16,386	31,566	38,042
Employee Stock Purchase Plan Weighted Average Purchase Price Of Shares Purchased (in USD per share)		$ 21.26			$ 24.28	$ 21.26	$ 24.28
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		5.02%	5.24%	5.46%
Share-based compensation expense		$ 100			$ 200	$ 300	$ 400
Dividend yield						1.84%
Expected volatility						41.15%
Expected holding period (years)		9 months	6 months	3 months
ESPP \| Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.80%
Expected holding period (years)	1 year

Stockholders' Equity Stockholders' Equity (Stock-Based Compensation Plans) (Details) - USD ($)			3 Months Ended		6 Months Ended
	Feb. 19, 2022	Apr. 16, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price			$ 25.43	$ 20.06	$ 25.43	$ 22.26
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			$ 100,000	$ 200,000	$ 100,000	$ 300,000
Payment, Tax Withholding, Share-based Payment Arrangement					$ 419,000	$ 119,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price			$ 10.34		$ 10.34
Advisor
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			186	153	370	316
Director
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			5,427	1,077	9,426	4,595
Stock options
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					370,590
Exercise of stock options, shares			50,000	17,300	50,000	29,300
Proceeds from Stock Options Exercised			$ 1.271		$ 1.271
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Returned For Option Price, Amount			0	$ 0	0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Increases (Decreases) in Period, Description				12,652		22,797
Share-based Compensation Arrangement by Share-based Payment Award, Options, Returned for Payroll Taxes				736		1,465
Share-based Compensation Arrangement by Share-based Payment Award, Options, Returned for Payroll Taxes			$ 0	$ 20,000	$ 0	$ 41,000
Dividend yield					1.79%
Expected volatility					43.59%
Risk-free interest rate					4.31%
Expected holding period (years)					6 years
Stock options \| Black-Scholes
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					370,590	214,191
Share price at grant date						$ 24.48
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Options, Grants in Period, Aggregate Grant Date Market Value					$ 3,830,000	$ 2,506,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period			193,048	13,810	487,776	101,850
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures Fair Valueriod			$ 2,095,000	$ 152,000	$ 5,852,000	$ 1,334,000
Stock options \| Black-Scholes \| Five Year Vesting Period
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			0	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Options, Grants in Period, Aggregate Grant Date Market Value			$ 0	$ 0
Stock options \| Monte-Carlo Pricing Model
Class of Stock [Line Items]
Share price at grant date					$ 32.69
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Grants in period			0	0	156,630	142,020
Forfeited in period, fair value			$ 0	$ 27,000	$ 841,000	$ 61,000
Grants in period, aggregate grant date market value			$ 0	$ 0	$ 3,834,000	$ 4,634,000
Shares withheld for tax withholding obligation (in shares)			39	39	16,354	1,473
Share-based payment arrangement, decrease for tax withholding obligation			$ 1,000	$ 1,000	$ 419,000	$ 50,000
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited			0	776	26,240	1,826
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 24.48	$ 32.63
Performance awards
Class of Stock [Line Items]
Forfeited in period			0	2,795	80,276	40,181
Forfeited in period, fair value			$ 0	$ 27,000	$ 871,000	$ 1,012,000
Good to Great Awards
Class of Stock [Line Items]
Share price at grant date	$ 25.08	$ 32.69
Forfeited in period			0	0	31,470	8,444
Forfeited in period, fair value			$ 0	$ 0	$ 790,000,000	$ 276,000,000

Business Combinations (Tables)

6 Months Ended

Jun. 30, 2024

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the breakdown of the purchase price allocation for our Bakersfield, CA business acquisition (in thousands):


	Initial Purchase Price Allocation		Adjustments		Adjusted Purchase Price Allocation
Current assets	$	7,087	$	131	$	7,218
Preneed trust assets	—		11,428		11,428
Property, plant & equipment	12,577		245		12,822
Cemetery property	9,035		—		9,035
Goodwill	13,612		(106)		13,506
Intangible and other non-current assets	3,763		—		3,763
Assumed liabilities	(300)		(66)		(366)

Preneed trust liabilities	—		(11,428)		(11,428)
Deferred revenue	(1,774)		(204)		(1,978)
Purchase price	$	44,000	$	—	$	44,000

The following table summarizes the fair value of the assets acquired and liabilities assumed for this business (in thousands):


Acquisition Date	Type of Business	Market	Assets Acquired (Excluding Goodwill)		Goodwill Recorded		Liabilities and Debt Assumed
March 22, 2023	Three Funeral Homes, Two Cemeteries and One Cremation Focused Business	Bakersfield, CA	$	44,266	$	13,506	$	(13,772)

Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

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. Our operations are reported in two business segments: Funeral Home Operations, which currently accounts for approximately 65% of our total revenue, and Cemetery Operations, which currently accounts for approximately 35% of our total revenue. At June 30, 2024, we operated 164 funeral homes in 26 states and 31 cemeteries in 11 states.

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 sale of caskets and related funeral merchandise, the use of funeral home facilities for visitation and memorial services and transportation services. We provide funeral services and products on both an “atneed” (time of death) and “preneed” (planned prior to death) basis.

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 memorial markers, outer burial containers and monuments) and services (interments, inurnments and installation of cemetery merchandise). We provide cemetery services and products on both an atneed and preneed basis.

Principles of Consolidation and Interim Condensed Disclosures

Use of Estimates

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

Inventory consists primarily of caskets, outer burial containers and cemetery monuments and markers and is recorded at the lower of its cost basis or net realizable value. Inventory is relieved using specific identification in fulfillment of performance obligations on our contracts.

Contingent Liability

We recognize a contingent liability when both i) it is probable that a loss has been incurred and ii) the amount of the loss is reasonably estimable. In evaluating these two conditions, we consider all relevant information that is available as of the date the financial statements are issued. During the three and six months ended June 30, 2024, we recorded a $5.0 million contingent liability to reflect our agreement to pay our financial advisor in connection with the review of strategic alternatives.

Deferred Revenue

During the six months ended June 30, 2023, we withdrew $8.6 million of realized capital gains and earnings from our preneed funeral and cemetery trust investments. We did not withdraw any realized capital gains and earnings from our preneed trust investments during the six months ended June 30, 2024. In certain states, we are allowed to make these withdrawals prior to the delivery of preneed merchandise and service contracts. The realized capital gains and earnings withdrawn increase our cash flow from operations, but are not recognized as revenue in our Consolidated Statements of Operations, however, they reduce our Preneed funeral trust investments and Preneed cemetery trust investments and increase our Deferred preneed funeral revenue and Deferred preneed cemetery revenue.

Additionally, during the three and six months ended June 30, 2023, we received a $6.0 million incentive payment from a vendor for entering into a strategic partnership agreement to market and sell prearranged funeral services in the future, which increased our cash flow from operations and Deferred preneed funeral revenue. The incentive payment is subject to partial claw-back if certain preneed funeral sales volumes are not met within the ten-year term of the agreement. As such, we will recognize the incentive payment in proportion to our achieved preneed funeral sales volume per the agreement at each reporting period.

Property, Plant and Equipment

Property, plant and equipment is comprised of the following (in thousands):


	June 30, 2024		December 31, 2023
Land	$	86,829	$	87,635
Buildings and improvements	262,353		263,522
Furniture, equipment and vehicles	73,139		74,372
Property, plant and equipment, at cost	422,321		425,529
Less: accumulated depreciation	(141,966)		(138,045)
Property, plant and equipment, net	$	280,355	$	287,484

During the six months ended June 30, 2024, we sold six funeral homes and one cemetery that had a carrying value of property, plant and equipment of $3.1 million, which was included in the loss on sale and recorded in Net loss on divestitures, disposals and impairment charges on our Consolidated Statements of Operations. Additionally, we sold real property for $0.3 million, with a carrying value of $0.3 million.

At June 30, 2024, we had $0.5 million of assets classified as held for sale in Property, plant and equipment, net on our Consolidated Balance Sheet related to one funeral home that we intend to divest within the next six months.

During the six months ended June 30, 2023, we acquired $12.8 million of property, plant and equipment related to our acquisition of a business located in Bakersfield, CA, as more fully described in Note 3 to the Consolidated Financial Statements. Additionally, we sold real property for $1.2 million, with a carrying value of $0.6 million, resulting in a gain on the sale of $0.6 million, which was recorded in Net loss on divestitures, disposals and impairment charges on our Consolidated Statements of Operations.

Our growth and maintenance capital expenditures totaled $1.9 million and $2.6 million for the three months ended June 30, 2024 and 2023, respectively, and $3.5 million and $5.5 million for the six months ended June 30, 2024 and 2023, respectively. In addition, we recorded depreciation expense of $3.5 million and $3.7 million for the three months ended June 30, 2024 and 2023, respectively, and $7.2 million for both the six months ended June 30, 2024 and 2023.

Cemetery Property

Cemetery property was $113.3 million and $114.6 million, net of accumulated amortization of $68.7 million and $64.6 million at June 30, 2024 and December 31, 2023, respectively. When cemetery property is sold, the value of the cemetery property (interment right costs) is expensed as amortization using the specific identification method in the period in which the sale of the interment right is recognized as revenue. Our growth capital expenditures for cemetery property development totaled $1.6 million and $1.4 million for the three months ended June 30, 2024 and 2023, respectively, and $3.6 million and $3.5 million for the six months ended June 30, 2024 and 2023, respectively. We recorded amortization expense for cemetery

interment rights of $2.6 million and $1.9 million for the three months ended June 30, 2024 and 2023, respectively, and $4.3 million and $3.1 million for the six months ended June 30, 2024 and 2023, respectively.

During the six months ended June 30, 2024, we sold one cemetery that had a carrying value of cemetery property of $0.8 million, which was included in the loss on sale and recorded in Net loss on divestitures, disposals and impairment charges on our Consolidated Statements of Operations.

During the six months ended June 30, 2023, we acquired cemetery property for $9.0 million related to our acquisition of a business located in Bakersfield, CA, as more fully described in Note 3 to the Consolidated Financial Statements. We also sold two cemeteries that had a carrying value of cemetery property of $0.8 million, which was included in the loss on sale and recorded in Net loss on divestitures, disposals and impairment charges on our Consolidated Statements of Operations.

Income Taxes

Income tax expense was $4.2 million and $3.4 million for the three months ended June 30, 2024 and 2023, respectively, and $7.9 million and $6.9 million for the six months ended June 30, 2024 and 2023, respectively. Our operating tax rate before discrete items was 33.6% and 28.0% for the three months ended June 30, 2024 and 2023, respectively, and 33.2% and 28.5% for the six months ended June 30, 2024 and 2023, respectively.

Subsequent Events

Receivables from Preneed Funeral Trusts (Tables)

6 Months Ended

Jun. 30, 2024

Receivables From Preneed Trusts [Abstract]

Receivables from Preneed Trusts


	June 30, 2024		December 31, 2023
Preneed funeral trust funds, at cost	$	22,757	$	22,196
Less: allowance for contract cancellation	(683)		(666)
Receivables from preneed funeral trusts, net	$	22,074	$	21,530

Composition of Assets Held in Trust

The composition of the preneed funeral trust funds at June 30, 2024 is as follows (in thousands):


	Historical Cost Basis		Fair Value
Cash and cash equivalents	$	6,704	$	6,704
Fixed income investments	12,886		12,886
Mutual funds and common stocks	3,163		2,897
Annuities	4		4
Total	$	22,757	$	22,491

The composition of the preneed funeral trust funds at December 31, 2023 is as follows (in thousands):


	Historical Cost Basis		Fair Value
Cash and cash equivalents	$	6,547	$	6,547
Fixed income investments	12,732		12,732
Mutual funds and common stocks	2,913		2,695
Annuities	4		4
Total	$	22,196	$	21,978

Trust Investments (Perpetual care trust investment security transactions recorded in Other revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gain (Loss) on Securities [Line Items]
Revenues	$ 102,318	$ 97,678	$ 205,811	$ 193,192
Other revenue
Gain (Loss) on Securities [Line Items]
Revenues	8,295	7,526	16,587	14,822
Other revenue \| Preneed Funeral Trust Investments
Gain (Loss) on Securities [Line Items]
Investment income	2,881	3,495	6,078	6,624
Realized losses, net	(18)	(751)	(474)	(1,125)
Total	$ 2,863	$ 2,744	$ 5,604	$ 5,499

- Definition

+ References

+ Details

Intangible and Other Non-Current Assets

6 Months Ended

Jun. 30, 2024

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

Intangible and Other Non-Current Assets

INTANGIBLE AND OTHER NON-CURRENT ASSETS

Intangible and other non-current assets are as follows (in thousands):


	June 30, 2024		December 31, 2023
Tradenames	$	28,713	$	28,862
Capitalized commissions on preneed contracts, net of accumulated amortization of $4,199 and $3,788, respectively	4,869		4,678
Internal-use software, net of accumulated amortization of $612 and $444, respectively	4,057		2,422
Prepaid agreements not-to-compete, net of accumulated amortization of $3,309 and $3,158, respectively	1,154		1,335
Other	306		380
Intangible and other non-current assets, net	$	39,099	$	37,677

Tradenames

Our tradenames have indefinite lives and therefore are not amortized.

During the six months ended June 30, 2024, two of the funeral homes that we sold had a carrying value of tradenames of $0.2 million, which was included in the loss on sale and recorded in Net loss on divestitures, disposals and impairment charges on our Consolidated Statements of Operations.

Capitalized Commissions

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 of ten years for our preneed funeral trust contracts and eight years for our preneed cemetery merchandise and services contracts.

Amortization expense was $0.2 million for both the three months ended June 30, 2024, and 2023 and $0.4 million for both the six months ended June 30, 2024 and 2023.

Internal-use Software

Internal-use software is amortized on a straight-line basis typically over three to five years. Amortization expense was $0.1 million for both the three months ended June 30, 2024 and 2023, and $0.2 million and $0.1 million for the six months ended June 30, 2024 and 2023, respectively.

Prepaid Agreements

Prepaid agreements not-to-compete are amortized over the term of the respective agreements, generally ranging from one to ten years. Amortization expense was $0.1 million for both the three months ended June 30, 2024, and 2023 and $0.2 million and $0.3 million for the six months ended June 30, 2024 and 2023, respectively.

The aggregate amortization expense for our capitalized commissions, internal-use software and prepaid agreements as of June 30, 2024 is as follows (in thousands):


	Capitalized Commissions		Internal-use Software		Prepaid Agreements
Years ending December 31,
Remainder of 2024	$	447	$	220	$	230
2025	847		864		390
2026	780		854		262
2027	715		849		142
2028	633		708		78
Thereafter	1,447		562		52
Total amortization expense	$	4,869	$	4,057	$	1,154

Trust Investments (Unrealized losses on cemetery merchandise and service trust investments) (Details) - Preneed Cemetery Trust Investments - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	$ 4,769	$ 995
In Loss Position Less than 12 months, Unrealized Losses	(254)	(67)
In Loss Position Greater than 12 months, Fair Market Value	10,903	12,954
In Loss Position Greater than 12 months, Unrealized Losses	(4,504)	(5,237)
Total, Fair Market Value	15,672	13,949
Total, Unrealized Losses	(4,758)	(5,304)
U.S. agency obligations
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	0	0
In Loss Position Less than 12 months, Unrealized Losses	0	0
In Loss Position Greater than 12 months, Fair Market Value	610	613
In Loss Position Greater than 12 months, Unrealized Losses	(55)	(51)
Total, Fair Market Value	610	613
Total, Unrealized Losses	(55)	(51)
Foreign debt
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	0	284
In Loss Position Less than 12 months, Unrealized Losses	0	(5)
In Loss Position Greater than 12 months, Fair Market Value	217	209
In Loss Position Greater than 12 months, Unrealized Losses	(11)	(12)
Total, Fair Market Value	217	493
Total, Unrealized Losses	(11)	(17)
Corporate debt
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	3,994	666
In Loss Position Less than 12 months, Unrealized Losses	(251)	(62)
In Loss Position Greater than 12 months, Fair Market Value	2,148	4,239
In Loss Position Greater than 12 months, Unrealized Losses	(2,646)	(3,595)
Total, Fair Market Value	6,142	4,905
Total, Unrealized Losses	(2,897)	(3,657)
Preferred stock
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	775	45
In Loss Position Less than 12 months, Unrealized Losses	(3)	0
In Loss Position Greater than 12 months, Fair Market Value	7,856	7,821
In Loss Position Greater than 12 months, Unrealized Losses	(1,785)	(1,572)
Total, Fair Market Value	8,631	7,866
Total, Unrealized Losses	(1,788)	(1,572)
Mortgage-backed securities
Gain (Loss) on Securities [Line Items]
In Loss Position Less than 12 months, Fair Market Value	0	0
In Loss Position Less than 12 months, Unrealized Losses	0	0
In Loss Position Greater than 12 months, Fair Market Value	72	72
In Loss Position Greater than 12 months, Unrealized Losses	(7)	(7)
Total, Fair Market Value	72	72
Total, Unrealized Losses	$ (7)	$ (7)

Credit Facility and Acquisition Debt (Long-term Debt Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Accumulated amortization, debt issuance costs	$ 2,754	$ 2,478
Current maturities on long-term debt	(571)	(537)
Long-term Debt, Excluding Current Maturities	5,388	5,461
Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs, net of accumulated amortization of $449 and $373, respectively		(1,306)
Revolving Credit Facility \| Credit Agreement 2018
Debt Instrument [Line Items]
Long-term Debt	155,000	179,100
Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Debt issuance costs, net of accumulated amortization of $449 and $373, respectively	(1,030)
Term Loan \| Credit Agreement
Debt Instrument [Line Items]
Long-term Debt	153,970	177,794
Acquisition Debt, Deferred Purchase Price \| Notes Payable, Other Payables
Debt Instrument [Line Items]
Long-term Debt	$ 5,959	$ 5,998

Fair Value Measurements (Narrative) (Details) $ in Millions	Jun. 30, 2024 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	$ 10.0
Notes Payable, Other Payables \| Acquisition Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt	6.0
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt measured at fair value	$ 357.0

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Business Combinations (Purchase Price Allocation) (Details) - USD ($) $ in Thousands			3 Months Ended
	Jun. 30, 2023	Mar. 22, 2023	Jun. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Preneed trust assets, adjustments			$ 11,428
Goodwill				$ 414,895	$ 423,643	$ 410,137
Preneed trust liabilities, adjustments			(11,428)
Purchase price, total adjustments			0
Bakersfield, California
Business Acquisition [Line Items]
Current assets		$ 7,087		7,218
Current assets, adjustments			131
Preneed trust assets		0		11,428
Property, plant & equipment		12,577		12,822
Property, plant & equipment, adjustments			245
Cemetery property		9,035		9,035
Goodwill		13,612		13,506
Goodwill, adjustments			(106)
Intangible and other non-current assets		3,763		3,763
Assumed liabilities	$ (366)	(300)
Assumed liabilities, adjustments			(66)
Preneed trust liabilities		0		(11,428)
Deferred revenue		(1,774)		(1,978)
Deferred revenue, adjustments			$ (204)
Purchase price		$ 44,000		$ 44,000

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2024

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 (in thousands, except per share data):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Numerator for basic and diluted earnings per share:
Net income	$	6,259	$	8,286	$	13,232	$	17,130
Less: Earnings allocated to unvested restricted stock	(93)		(79)		(194)		(150)
Income attributable to common stockholders	$	6,166	$	8,207	$	13,038	$	16,980

Denominator:
Denominator for basic earnings per common share – weighted average shares outstanding	14,965		14,793		14,920		14,776
Effect of dilutive securities:
Stock options	22		50		20		74

Performance awards	416		611		416		611
Denominator for diluted earnings per common share – weighted average shares outstanding	15,403		15,454		15,356		15,461

Basic earnings per common share:	$	0.41	$	0.55	$	0.87	$	1.14
Diluted earnings per common share:	$	0.40	$	0.53	$	0.85	$	1.10

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Stock options excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect are as follows (in thousands):


	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
Antidilutive stock options	1,433	1,236	1,456	1,183

Stockholders' Equity (Common Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
	Feb. 19, 2022	Apr. 16, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Director
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, Forfeitures, Weighted Average Grant Date Fair Value			$ 26.84	$ 32.47	$ 26.93	$ 31.01
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			5,427	1,077	9,426	4,595
Share Based Compensation Arrangement By Share Based Payment Award, Options, Aggregate Grant Date Fair Value			$ 146	$ 35	$ 254	$ 142
Advisor
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			186	153	370	316
Share Based Compensation Arrangement By Share Based Payment Award, Options, Aggregate Grant Date Fair Value			$ 5	$ 5	$ 10	$ 10
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period			0	0	0	30,000
Grants in period, aggregate grant date market value			$ 0	$ 0	$ 0	$ 826
Shares withheld for tax withholding obligation (in shares)			0	0	0	1,001
Share-based payment arrangement, decrease for tax withholding obligation			$ 0	$ 0	$ 0	$ 28
Share price at grant date						$ 27.54
Good to Great Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price at grant date	$ 25.08	$ 32.69
Forfeited in period			0	0	31,470	8,444
Forfeited in period, fair value			$ 0	$ 0	$ 790,000	$ 276,000

Segment Reporting (Revenue, pre-tax income and total and total assets by segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenues	$ 102,318	$ 97,678	$ 205,811	$ 193,192
Operating Income (Loss)	18,369	20,738	37,846	41,372
Income (loss) before income taxes:	10,459	11,702	21,181	24,048
Total assets	1,269,266		1,269,266		$ 1,268,052
Funeral
Segment Reporting Information [Line Items]
Revenues	63,595	64,505	135,426	134,590
Operating Income (Loss)	20,759	17,898	43,833	40,091
Income (loss) before income taxes:	21,024	18,112	43,892	40,446
Total assets	787,166		787,166		802,368
Cemetery
Segment Reporting Information [Line Items]
Revenues	38,723	33,173	70,385	58,602
Operating Income (Loss)	16,203	13,039	28,845	21,651
Income (loss) before income taxes:	16,303	13,183	29,013	21,854
Total assets	463,205		463,205		448,018
Corporate
Segment Reporting Information [Line Items]
Operating Income (Loss)	(18,593)	(10,199)	(34,832)	(20,370)
Income (loss) before income taxes:	(26,868)	(19,593)	(51,724)	(38,252)
Total assets	18,895		18,895		$ 17,666
Services
Segment Reporting Information [Line Items]
Revenues	44,433	44,522	94,132	92,729
Services \| Funeral
Segment Reporting Information [Line Items]
Revenues	39,589	39,799	84,396	83,401
Services \| Cemetery
Segment Reporting Information [Line Items]
Revenues	4,844	4,723	9,736	9,328
Merchandise
Segment Reporting Information [Line Items]
Revenues	24,147	25,455	50,946	52,358
Merchandise \| Funeral
Segment Reporting Information [Line Items]
Revenues	19,664	21,211	42,323	44,180
Merchandise \| Cemetery
Segment Reporting Information [Line Items]
Revenues	4,483	4,244	8,623	8,178
Cemetery property
Segment Reporting Information [Line Items]
Revenues	25,443	20,175	44,146	33,283
Cemetery property \| Funeral
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Cemetery property \| Cemetery
Segment Reporting Information [Line Items]
Revenues	25,443	20,175	44,146	33,283
Other revenue
Segment Reporting Information [Line Items]
Revenues	8,295	7,526	16,587	14,822
Other revenue \| Funeral
Segment Reporting Information [Line Items]
Revenues	4,342	3,495	8,707	7,009
Other revenue \| Cemetery
Segment Reporting Information [Line Items]
Revenues	$ 3,953	$ 4,031	$ 7,880	$ 7,813

Trust Investments (Fixed income securities within our perpetual care trust investment in an unrealized loss position) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Market Value
In Loss Position Less than 12 months, Fair Market Value	$ 3,785	$ 1,007
In Loss Position Greater than 12 months, Fair Market Value	9,123	11,358
Total, Fair Market Value	12,908	12,365
Unrealized Losses
In Loss Position Less than 12 months, Unrealized Losses	(204)	(61)
In Loss Position Greater than 12 months, Unrealized Losses	(3,882)	(4,759)
Total, Unrealized Losses	(4,086)	(4,820)
Foreign debt
Fair Market Value
In Loss Position Less than 12 months, Fair Market Value	0	440
In Loss Position Greater than 12 months, Fair Market Value	175	178
Total, Fair Market Value	175	618
Unrealized Losses
In Loss Position Less than 12 months, Unrealized Losses	0	(8)
In Loss Position Greater than 12 months, Unrealized Losses	(9)	(10)
Total, Unrealized Losses	(9)	(18)
Corporate debt
Fair Market Value
In Loss Position Less than 12 months, Fair Market Value	3,196	567
In Loss Position Greater than 12 months, Fair Market Value	1,969	3,879
Total, Fair Market Value	5,165	4,446
Unrealized Losses
In Loss Position Less than 12 months, Unrealized Losses	(202)	(53)
In Loss Position Greater than 12 months, Unrealized Losses	(2,318)	(3,314)
Total, Unrealized Losses	(2,520)	(3,367)
Preferred stock
Fair Market Value
In Loss Position Less than 12 months, Fair Market Value	589	0
In Loss Position Greater than 12 months, Fair Market Value	6,979	7,301
Total, Fair Market Value	7,568	7,301
Unrealized Losses
In Loss Position Less than 12 months, Unrealized Losses	(2)	0
In Loss Position Greater than 12 months, Unrealized Losses	(1,555)	(1,435)
Total, Unrealized Losses	$ (1,557)	$ (1,435)

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

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property, Plant and Equipment

Property, plant and equipment is comprised of the following (in thousands):


	June 30, 2024		December 31, 2023
Land	$	86,829	$	87,635
Buildings and improvements	262,353		263,522
Furniture, equipment and vehicles	73,139		74,372
Property, plant and equipment, at cost	422,321		425,529
Less: accumulated depreciation	(141,966)		(138,045)
Property, plant and equipment, net	$	280,355	$	287,484

Trust Investments (Perpetual care trust investment security transactions recorded in Other, net) (Details) - Preneed Funeral Trust Investments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gain (Loss) on Securities [Line Items]
Total	$ 0	$ 0	$ 0	$ 0
Interest Expense Net of Other Income
Gain (Loss) on Securities [Line Items]
Realized gains	671	113	831	1,419
Realized losses	(293)	(663)	(470)	(1,089)
Unrealized gains (losses), net	1,746	1,840	(7,327)	(4,229)
Net change in care trusts’ corpus	$ (2,124)	$ (1,290)	$ 6,966	$ 3,899

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	26,627,319	26,864,187
Common stock, shares outstanding	14,999,501	15,236,369
Treasury stock, shares	11,627,818	11,627,818

Basis of Presentation and Summary of Significant Accounting Policies (PPE) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 422,321	$ 425,529
Less: accumulated depreciation	(141,966)	(138,045)
Property, plant and equipment, net	280,355	287,484
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	86,829	87,635
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	262,353	263,522
Furniture, equipment and vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 73,139	$ 74,372

Trust Investments (Cost and fair market value associated with preneed funeral trust investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Preneed Cemetery Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 107,696	$ 102,879
Unrealized Gains	5,582	11,679
Unrealized Losses	(10,518)	(16,031)
Fair Market Value	102,760	98,527
Preneed cemetery trust investments	$ 103,516	$ 99,461
Preneed cemetery trust investments, fair market value as a percentage of cost (in Percent)	95.40%	95.80%
Preneed Cemetery Trust Investments \| Accrued investment income
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 756	$ 934
Fair Market Value	756	934
Preneed Funeral Trust Investments
Debt and Equity Securities, FV-NI [Line Items]
Cost	116,501	113,499
Unrealized Gains	4,956	10,938
Unrealized Losses	(8,931)	(14,042)
Fair Market Value	112,526	110,395
Preneed cemetery trust investments	$ 113,196	$ 111,247
Preneed cemetery trust investments, fair market value as a percentage of cost (in Percent)	96.60%	97.30%
Preneed Funeral Trust Investments \| Accrued investment income
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 670	$ 852
Fair Market Value	670	852
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Cash and money market accounts
Debt and Equity Securities, FV-NI [Line Items]
Cost	20,809	9,643
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	20,809	9,643
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Common stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	32,774	43,057
Unrealized Gains	2,868	9,466
Unrealized Losses	(3,265)	(7,935)
Fair Market Value	32,377	44,588
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Cost		553
Unrealized Gains		10
Unrealized Losses		(30)
Fair Market Value		533
Fair Value, Inputs, Level 1 \| Preneed Cemetery Trust Investments \| Limited partnership fund
Debt and Equity Securities, FV-NI [Line Items]
Cost	3,675	3,575
Unrealized Gains	410	0
Unrealized Losses	0	(3)
Fair Market Value	4,085	3,572
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Cash and money market accounts
Debt and Equity Securities, FV-NI [Line Items]
Cost	38,395	26,707
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	38,395	26,707
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| U.S. Treasury Debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	406	451
Unrealized Gains	0	0
Unrealized Losses	(37)	(34)
Fair Market Value	369	417
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Common stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	28,205	38,600
Unrealized Gains	2,505	8,858
Unrealized Losses	(2,624)	(6,855)
Fair Market Value	28,086	40,603
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Cost		401
Unrealized Gains		3
Unrealized Losses		(29)
Fair Market Value		375
Fair Value, Inputs, Level 1 \| Preneed Funeral Trust Investments \| Limited partnership fund
Debt and Equity Securities, FV-NI [Line Items]
Cost	3,365	3,383
Unrealized Gains	375	0
Unrealized Losses	0	(2)
Fair Market Value	3,740	3,381
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Foreign debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	8,914	7,764
Unrealized Gains	1,464	1,371
Unrealized Losses	(11)	(17)
Fair Market Value	10,367	9,118
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Corporate debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	14,280	15,071
Unrealized Gains	210	342
Unrealized Losses	(2,897)	(3,657)
Fair Market Value	11,593	11,756
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	11,477	10,965
Unrealized Gains	503	473
Unrealized Losses	(1,788)	(1,572)
Fair Market Value	10,192	9,866
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Cost	79	79
Unrealized Gains	0	0
Unrealized Losses	(7)	(7)
Fair Market Value	72	72
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Fixed income
Debt and Equity Securities, FV-NI [Line Items]
Cost	14,079	11,369
Unrealized Gains	56	16
Unrealized Losses	(2,490)	(2,759)
Fair Market Value	11,645	8,626
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Cost	944
Unrealized Gains	71
Unrealized Losses	(5)
Fair Market Value	1,010
Fair Value, Inputs, Level 2 \| Preneed Cemetery Trust Investments \| U.S. agency obligations
Debt and Equity Securities, FV-NI [Line Items]
Cost	665	803
Unrealized Gains	0	1
Unrealized Losses	(55)	(51)
Fair Market Value	610	753
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Foreign debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	8,115	7,300
Unrealized Gains	1,340	1,297
Unrealized Losses	(10)	(16)
Fair Market Value	9,445	8,581
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Corporate debt
Debt and Equity Securities, FV-NI [Line Items]
Cost	12,857	13,848
Unrealized Gains	192	323
Unrealized Losses	(2,545)	(3,255)
Fair Market Value	10,504	10,916
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Cost	10,144	9,786
Unrealized Gains	461	442
Unrealized Losses	(1,611)	(1,468)
Fair Market Value	8,994	8,760
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Fixed Income Securities
Debt and Equity Securities, FV-NI [Line Items]
Cost	11,697	9,513
Unrealized Gains	48	15
Unrealized Losses	(2,099)	(2,383)
Fair Market Value	9,646	7,145
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Other Investments
Debt and Equity Securities, FV-NI [Line Items]
Cost	2,560	3,510
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Market Value	2,560	$ 3,510
Fair Value, Inputs, Level 2 \| Preneed Funeral Trust Investments \| Equity
Debt and Equity Securities, FV-NI [Line Items]
Cost	757
Unrealized Gains	35
Unrealized Losses	(5)
Fair Market Value	$ 787

Receivables Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Trade and financed receivables	$ 30,053	$ 27,281
Other receivables	934	1,285
Allowance for credit losses	(1,589)	(1,506)
Accounts receivable, net	29,398	27,060
Funeral
Segment Reporting Information [Line Items]
Trade and financed receivables	8,138	8,822
Other receivables	307	404
Allowance for credit losses	(355)	(266)
Accounts receivable, net	8,090	8,960
Cemetery
Segment Reporting Information [Line Items]
Trade and financed receivables	21,915	18,459
Other receivables	293	595
Allowance for credit losses	(1,234)	(1,240)
Accounts receivable, net	20,974	17,814
Corporate
Segment Reporting Information [Line Items]
Trade and financed receivables	0	0
Other receivables	334	286
Allowance for credit losses	0	0
Accounts receivable, net	$ 334	$ 286

Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill at the beginning of year	$ 423,643	$ 410,137	$ 410,137
Increase in goodwill related to acquisitions	0	13,500	13,506
Decrease in goodwill related to divestitures	8,748		0
Goodwill at the end of the period	414,895		423,643
Increase in goodwill related to acquisitions	0	13,500	$ 13,506
Cemetery
Goodwill [Roll Forward]
Increase in goodwill related to acquisitions	1,000	4,500
Increase in goodwill related to acquisitions	1,000	4,500
Funeral
Goodwill [Roll Forward]
Increase in goodwill related to acquisitions	7,800	9,000
Increase in goodwill related to acquisitions	$ 7,800	$ 9,000

- Definition

+ References + Details

Trust Investments (Components of Care trusts’ corpus) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Gain (Loss) on Securities [Line Items]
Care trusts’ corpus	$ 86,194	$ 84,351
Perpetual Care Trust Invesments
Gain (Loss) on Securities [Line Items]
Cemetery perpetual care trust investments, at market value	85,331	84,780
Obligations due to (due from) trust	(980)	1,414
Care trusts’ corpus	$ 84,351	$ 86,194