v3.26.1
Segment Reporting Level 1 (Notes)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Our operations are both product-based and geographically-based, and the reportable operating segments presented below include our funeral and cemetery operations. Our geographic areas include the United States and Canada, where we conduct both funeral and cemetery operations.
Our Chief Operating Decision Maker (CODM) is our Chief Executive Officer, who is responsible for making key operating, finance, and capital allocation decisions and specifically uses segment gross profit to aid in the decision making and to assess the performance of the operating segments.
Our reportable segment information, including disaggregated revenue, was as follows and includes a reconciliation of gross profit to our consolidated income before income taxes.
Three months ended June 30,Six months ended June 30,
2026202520262025
(In thousands)
Revenue from customers:
Funeral revenue:
Atneed revenue$298,669 $296,114 $618,874 $625,185 
Matured preneed revenue196,495 183,503 401,880 389,345 
Core funeral revenue495,164 479,617 1,020,754 1,014,530 
Non-funeral home revenue27,582 25,749 56,436 53,357 
Non-funeral home preneed sales revenue21,334 26,421 43,473 48,621 
Core general agency and other revenue60,758 59,578 114,725 114,351 
Total funeral revenue604,838 591,365 1,235,388 1,230,859 
Direct cost(85,179)(85,005)(175,469)(177,783)
Selling compensation(52,447)(47,759)(102,760)(92,921)
Salaries & fringe expense(172,400)(167,465)(342,985)(335,315)
Facility expenses(70,358)(66,314)(142,436)(134,618)
Other costs and overhead(114,163)(108,845)(227,474)(220,267)
Total funeral expense(494,547)(475,388)(991,124)(960,904)
Funeral gross profit$110,291 $115,977 $244,264 $269,955 
Cemetery revenue:
Atneed revenue$110,638 $111,018 $219,809 $223,320 
Recognized preneed property revenue225,441 220,421 435,040 409,081 
Recognized preneed merchandise and services revenue116,246 105,848 222,527 204,318 
Core cemetery revenue452,325 437,287 877,376 836,719 
Other revenue46,125 36,792 86,978 72,033 
Total cemetery revenue498,450 474,079 964,354 908,752 
Direct cost(65,668)(66,265)(124,368)(125,022)
Selling compensation(93,905)(86,402)(180,692)(167,070)
Maintenance expense(69,146)(67,882)(135,872)(130,938)
Other costs and overhead(106,521)(98,069)(207,734)(192,822)
Total cemetery expense(335,240)(318,618)(648,666)(615,852)
Cemetery gross profit$163,210 $155,461 $315,688 $292,900 
Total revenue from customers$1,103,288 $1,065,444 $2,199,742 $2,139,611 
Total segment expenses(829,787)(794,006)(1,639,790)(1,576,756)
Gross profit from reportable segments$273,501 $271,438 $559,952 $562,855 
Corporate general and administrative expenses(41,775)(49,466)(85,686)(94,167)
Restructuring charge— (1,575)— (1,575)
(Losses) gains on divestitures and impairment charges, net(138)4,062 1,136 9,033 
Operating income$231,588 $224,459 $475,402 $476,146 
Interest expense(64,711)(64,071)(128,717)(125,554)
Other (expense) income, net(57)3,914 1,341 7,066 
Income before income taxes$166,820 $164,302 $348,026 $357,658 
Our geographic area information was as follows:
United StatesCanadaTotal
 (In thousands)
Three months ended June 30,
Revenue from external customers:
2026$1,048,537 $54,751 $1,103,288 
20251,009,446 55,998 1,065,444 
Six months ended June 30,   
Revenue from external customers:
2026$2,089,257 $110,485 $2,199,742 
20252,029,853 109,758 2,139,611