CARRIAGE SERVICES INC
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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Jun 30, 2025 · Filed Aug 7, 2025
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8. Receivables from Preneed 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, 2025 | December 31, 2024 | |
|---|---|---|
| Preneed funeral trust funds, at cost | $22,733 | $23,063 |
| Less: allowance for contract cancellation | (682) | (691) |
| Receivables from preneed funeral trusts, net including HFS | $22,051 | $22,372 |
| Less: Held for sale | (27) | — |
| Receivables from preneed funeral trusts, net | $22,024 | $22,372 |
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, 2025 and December 31, 2024. The cost basis includes reinvested interest and dividends that have been earned on the trust assets. Fair value includes unrealized gains and losses on trust assets.
The composition of the preneed trust funds at June 30, 2025, is as follows (in thousands):
| Historical Cost Basis | Fair Value | |
|---|---|---|
| Cash and cash equivalents | $6,964 | $6,964 |
| Fixed income investments | 12,530 | 12,530 |
| Mutual funds and common stocks | 3,235 | 3,082 |
| Annuities | 4 | 4 |
| Total | $22,733 | $22,580 |
The composition of the preneed trust funds at December 31, 2024, is as follows (in thousands):
| Historical Cost Basis | Fair Value | |
|---|---|---|
| Cash and cash equivalents | $6,826 | $6,826 |
| Fixed income investments | 12,998 | 12,998 |
| Mutual funds and common stocks | 3,235 | 2,999 |
| Annuities | 4 | 4 |
| Total | $23,063 | $22,827 |
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