SERVICE CORP INTERNATIONAL
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
SCI$74.36+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statement of Cash Flows -
PART I
Condensed Consolidated Statement of Cash Flows (Unaudited)
| Three months ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands) | ||
| Cash flows from operating activities: | ||
| Net income | $131,274 | $144,829 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Loss on early extinguishment of debt | — | 1,060 |
| Depreciation and amortization | 50,219 | 46,114 |
| Amortization of intangibles | 4,321 | 4,731 |
| Amortization of cemetery property | 21,713 | 20,338 |
| Amortization of loan costs | 1,752 | 1,697 |
| Provision for expected credit losses | 4,185 | 1,906 |
| Provision for (benefit from) deferred income taxes | 2,412 | (492) |
| Losses (gains) on divestitures and impairment charges, net | 684 | (691) |
| Share-based compensation | 3,926 | 4,478 |
| Change in assets and liabilities, net of effects from acquisitions and divestitures: | ||
| Decrease in receivables | 6,043 | 8,329 |
| Decrease (increase) in other assets | 5,167 | (17,421) |
| (Decrease) increase in payables and other liabilities | (10,446) | 1,977 |
| Effect of preneed sales production and maturities: | ||
| Increase in preneed receivables, net and trust investments | (61,527) | (39,923) |
| Increase in deferred revenue, net | 34,170 | 41,030 |
| Increase in deferred receipts held in trust | 26,230 | 1,610 |
| Net cash provided by operating activities | 220,123 | 219,572 |
| Cash flows from investing activities: | ||
| Capital expenditures | (79,787) | (77,903) |
| Business acquisitions, net of cash acquired | (15,839) | (8,700) |
| Real estate acquisitions | (6,948) | (16,666) |
| Proceeds from divestitures and sales of property and equipment | 8,508 | 9,741 |
| Payments for Company-owned life insurance policies | (2,739) | (1,366) |
| Net cash used in investing activities | (96,805) | (94,894) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of long-term debt | 115,000 | 408,383 |
| Debt issuance costs | — | (7,471) |
| Scheduled payments of debt | (5,828) | (5,287) |
| Early payments and extinguishment of debt | (150,000) | (345,073) |
| Principal payments on finance leases | (9,019) | (8,537) |
| Proceeds from exercise of stock options | 17,237 | 8,763 |
| Purchase of Company common stock | (49,461) | (165,950) |
| Payments of dividends | (43,944) | (41,207) |
| Bank overdrafts and other | (7,973) | (6,729) |
| Net cash used in financing activities | (133,988) | (163,108) |
| Effect of foreign currency | (1,826) | 20 |
| Net decrease in cash, cash equivalents, and restricted cash | (12,496) | (38,410) |
| Cash, cash equivalents, and restricted cash at beginning of period | 224,761 | 204,524 |
| Cash, cash equivalents, and restricted cash at end of period | $212,265 | $166,114 |
8 Service Corporation International
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