CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands |
12 Months Ended |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
| Revenues: |
|
|
|
| Revenues |
$ 258,139
|
$ 248,200
|
$ 242,502
|
| Field costs and expenses: |
|
|
|
| Total field costs and expenses |
181,340
|
168,550
|
164,994
|
| Depreciation and amortization |
14,374
|
13,919
|
12,034
|
| Regional and unallocated funeral and cemetery costs |
13,339
|
10,844
|
11,997
|
| Gross profit |
76,799
|
79,650
|
77,508
|
| Corporate costs and expenses: |
|
|
|
| General, administrative and other |
26,253
|
27,944
|
27,114
|
| Home office depreciation and amortization |
1,605
|
1,502
|
1,746
|
| Total corporate costs and expenses |
27,858
|
29,446
|
28,860
|
| Operating income |
48,941
|
50,204
|
48,648
|
| Interest expense |
(12,948)
|
(11,738)
|
(10,559)
|
| Accretion of discount on convertible subordinated notes |
(4,329)
|
(3,870)
|
(3,454)
|
| Loss on early extinguishment of debt |
0
|
(567)
|
0
|
| Other, net |
1,118
|
(1,788)
|
(45)
|
| Income before income taxes |
32,782
|
32,241
|
34,590
|
| Provision for income taxes |
(13,100)
|
(12,682)
|
(13,737)
|
| Tax adjustment related to certain discrete items |
17,511
|
22
|
0
|
| Total (provision) benefit for income taxes |
4,411
|
(12,660)
|
(13,737)
|
| Net income |
$ 37,193
|
$ 19,581
|
$ 20,853
|
| Basic earnings per common share (in dollars per share) |
$ 2.25
|
$ 1.18
|
$ 1.16
|
| Diluted earnings per common share (in dollars per share) |
2.09
|
1.12
|
1.12
|
| Dividends declared per share (in dollars per share) |
$ 0.225
|
$ 0.15
|
$ 0.10
|
| Weighted average number of common and common equivalent shares outstanding: |
|
|
|
| Basic (in shares) |
16,438
|
16,515
|
17,791
|
| Diluted (in shares) |
17,715
|
17,460
|
18,313
|
| Funeral |
|
|
|
| Revenues: |
|
|
|
| Revenues |
$ 200,886
|
$ 189,401
|
$ 185,818
|
| Other Cost of Operating Revenue |
118,905
|
110,218
|
109,166
|
| Corporate costs and expenses: |
|
|
|
| Operating income |
61,369
|
61,620
|
59,434
|
| Interest expense |
(1,170)
|
(826)
|
(577)
|
| Income before income taxes |
60,634
|
61,163
|
58,404
|
| Cemetery |
|
|
|
| Revenues: |
|
|
|
| Revenues |
57,253
|
58,799
|
56,684
|
| Other Cost of Operating Revenue |
34,722
|
33,569
|
31,797
|
| Corporate costs and expenses: |
|
|
|
| Operating income |
15,430
|
18,030
|
18,074
|
| Interest expense |
(2)
|
(3)
|
(8)
|
| Income before income taxes |
$ 15,852
|
$ 18,400
|
$ 17,492
|