CARRIAGE SERVICES INC
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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1. Intangibles and Other Non Current Assets
- INTANGIBLE AND OTHER NON-CURRENT ASSETS
Intangible and other non-current assets are as follows (in thousands):
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Trade names | $29,867 | $28,116 |
| Internally developed software, net of accumulated amortization of $1,898 and $764, respectively | 6,948 | 5,601 |
| Capitalized commissions on preneed contracts, net of accumulated amortizationof $5,288 and $4,653, respectively | 5,151 | 4,991 |
| Prepaid agreements not-to-compete, net of accumulated amortization of $3,875 and $3,543, respectively | 650 | 923 |
| Non-current prepaid and other intangibles, net of accumulated amortization of $478 and $109, respectively | 654 | 1,011 |
| Deferred Compensation | 337 | — |
| Intangible and other non-current assets, net including HFS | $43,607 | $40,642 |
| Less: Held for sale | — | (215) |
| Intangible and other non-current assets, net | $43,607 | $40,427 |
Trade names
During the year ended December 31, 2025, we increased the value of our trade names by $3.1 million, with $2.1 million allocated to our funeral home segment and $1.0 million allocated to our cemetery segment, related to our acquisition of businesses, as more fully described in Note 3 to the Consolidated Financial Statements.
During the year ended December 31, 2025, four of the funeral homes that we sold and one funeral home that was closed and subsequently sold as real property had a carrying value of trade names of $1.3 million, which was included in the loss on sale and recorded in Net loss on divestitures and impairment charges on our Consolidated Statements of Operations.
During the year ended December 31, 2024, two of the funeral homes that we sold had a carrying value of trade names of $0.2 million, which was included in the loss on sale and recorded in Net loss on divestitures and impairment charges on our Consolidated Statements of Operations.
See Notes See Notes 1, 3, and 5 to the Consolidated Financial Statements for additional information related to Tradenames.
Internally Developed Software
Internally developed software is typically amortized on a straight-line basis over five years. Amortization expense was $1.1 million for each of the years ended December 31, 2025, and $0.3 million for each of the years ended December 31, 2024 and 2023.
Capitalized Commissions
Amortization expense was $0.9 million for each of the years ended December 31, 2025 and 2024, and $0.8 million and for the year ended December 31, 2023.
Prepaid Agreements Not-to-Compete
Prepaid agreements not-to-compete are amortized over the term of the respective agreements, generally ranging fromone toten years. Amortization expense was $0.4 million, $0.5 million, and $0.6 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Non-current Prepaid and Other Intangibles
Non-current prepaid agreements are related to software licenses that have been prepaid for multiple years. These agreements are amortized on a straight-line basis over the term of the respective agreements, generally ranging fromtwo tothree years. Other intangible assets relate to intellectual property and are amortized on a straight-line basis, typically over three years. Amortization expense was $0.1 million for each of the years ended December 31, 2025 and 2024 and $37 thousand for the year ended December 31, 2023.
The aggregate amortization expense for our capitalized commissions, prepaid not-to-compete agreements, internal-use software and non-current prepaid and other agreements as of December 31, 2025 is as follows (in thousands):
| Capitalized Commissions · Prepaid Agreements Not-to-compete · Internally Developed Software · Non-current Prepaid and Other Intangibles | ||||
|---|---|---|---|---|
| Years ending December 31, | ||||
| 2026 | $964 | $306 | $1,701 | $85 |
| 2027 | 906 | 182 | 1,704 | 488 |
| 2028 | 830 | 118 | 1,367 | 51 |
| 2029 | 727 | 30 | 1,090 | 30 |
| 2030 | 623 | 5 | 1,086 | — |
| Thereafter | 1,101 | 9 | — | — |
| Total amortization expense | $5,151 | $650 | $6,948 | $654 |
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