| Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] |
The following table presents the impact of the adoption of Topic 606 on our Consolidated Balance Sheet (in thousands): | | | | | | | | | | | | | | As of June 30, 2018 | | As Reported | | Balances Without Adoption of Topic 606 | | Effect of Change | Assets | | | | | | Accounts receivable, net of allowance for bad debts | $ | 17,026 |
| | $ | 18,450 |
| | $ | (1,424 | ) | Preneed receivables, net of allowance for bad debts | $ | 21,327 |
| | $ | 32,746 |
| | $ | (11,419 | ) | Intangible and other non-current assets | $ | 2,816 |
| | $ | — |
| | $ | 2,816 |
| Liabilities | | | | | | Deferred preneed cemetery revenue, net | $ | 50,699 |
| | $ | 55,264 |
| | $ | (4,565 | ) | Deferred preneed funeral revenue, net | $ | 27,740 |
| | $ | 36,018 |
| | $ | (8,278 | ) | Deferred tax liability | $ | 30,293 |
| | $ | 29,636 |
| | $ | 657 |
| Stockholders’ equity: | | | | | | Retained earnings | $ | 72,138 |
| | $ | 69,979 |
| | $ | 2,159 |
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The following table presents the impact of the adoption of Topic 606 on our Consolidated Statement of Operations (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2018 | | Six Months Ended June 30, 2018 | | As Reported | | Balances Without Adoption of Topic 606 | | Effect of Change | | As Reported | | Balances Without Adoption of Topic 606 | | Effect of Change | Field costs and expenses: | | | | | | | | | | | | Funeral | $ | 33,238 |
| | $ | 33,267 |
| | $ | (29 | ) | | $ | 69,604 |
| | $ | 69,672 |
| | $ | (68 | ) | Cemetery | $ | 9,880 |
| | $ | 9,869 |
| | $ | 11 |
| | $ | 18,940 |
| | $ | 18,910 |
| | $ | 30 |
| Income before income taxes | $ | 3,747 |
| | $ | 3,729 |
| | $ | 18 |
| | $ | 15,981 |
| | $ | 15,943 |
| | $ | 38 |
| Net income | $ | 2,747 |
| | $ | 2,734 |
| | $ | 13 |
| | $ | 12,103 |
| | $ | 12,075 |
| | $ | 28 |
| | | | | | | | | | | | | Basic earnings per common share: | $ | 0.15 |
| | $ | 0.15 |
| | $ | — |
| | $ | 0.71 |
| | $ | 0.71 |
| | $ | — |
| Diluted earnings per common share: | $ | 0.15 |
| | $ | 0.15 |
| | $ | — |
| | $ | 0.67 |
| | $ | 0.67 |
| | $ | — |
| | | | | | | | | | | | | Dividends declared per common share | $ | 0.075 |
| | $ | 0.075 |
| | $ | — |
| | $ | 0.075 |
| | $ | 0.075 |
| | $ | — |
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The following table presents the impact of the adoption of Topic 606 on our Consolidated Statement of Cash Flows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2018 | | Six Months Ended June 30, 2018 | | As Reported | | Balances Without Adoption of Topic 606 | | Effect of Change | | As Reported | | Balances Without Adoption of Topic 606 | | Effect of Change | Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | | | | Amortization of capitalized commissions on preneed contracts | $ | 144 |
| | $ | — |
| | $ | 144 |
| | $ | 293 |
| | $ | — |
| | $ | 293 |
| Changes in operating assets and liabilities that provided (required) cash: | | | | | | | | | | | | Intangible and other non-current assets | $ | (162 | ) | | $ | — |
| | $ | (162 | ) | | $ | (331 | ) | | $ | — |
| | $ | (331 | ) |
The cumulative effect of changes made to our opening Consolidated Balance Sheet on January 1, 2018 for the adoption of Topic 606 was as follows (in thousands): | | | | | | | | | | | | | | December 31, 2017 | | Effect of Adoption of
Topic 606 | | January 1, 2018 | Assets | | | | | | Accounts receivable, net of allowance for bad debts(1) | $ | 19,655 |
| | $ | (1,399 | ) | | $ | 18,256 |
| Preneed receivables, net of allowance for bad debts(2)(3) | $ | 31,644 |
| | $ | (11,129 | ) | | $ | 20,515 |
| Intangible and other non-current assets(4) | $ | — |
| | $ | 2,778 |
| | $ | 2,778 |
| | | | $ | (9,750 | ) | | | Liabilities | | | | | | Deferred preneed cemetery revenue(1)(2) | $ | 54,690 |
| | $ | (4,594 | ) | | $ | 50,096 |
| Deferred preneed funeral revenue(3) | $ | 34,585 |
| | $ | (7,934 | ) | | $ | 26,651 |
| Deferred tax liability(4) | $ | 31,159 |
| | $ | 647 |
| | $ | 31,806 |
| Stockholders’ equity: | | | | | | Retained earnings(4) | $ | 57,904 |
| | $ | 2,131 |
| | $ | 60,035 |
| | | | $ | (9,750 | ) | | |
| | | | | | | | | | | (1) | Under Topic 606, receivables represent an entity’s unconditional right to consideration, billed or unbilled. Our balance of accounts receivable, net of allowance for bad debts, of $19.7 million at December 31, 2017, included the current portion of receivables for preneed cemetery merchandise and service contracts totaling $1.4 million. As these amounts represent undelivered performance obligations, they have been reclassified to reduce deferred preneed cemetery revenue on January 1, 2018.
| (2) | Under Topic 606, receivables represent an entity’s unconditional right to consideration, billed or unbilled. Our balance of preneed receivables, net of allowance for bad debts, of $31.6 million at December 31, 2017, included the non-current portion of receivables for preneed cemetery merchandise and service contracts totaling $4.6 million. As these amounts represent undelivered performance obligations, they have been reclassified to reduce deferred preneed cemetery revenue on January 1, 2018. | (3) | Under Topic 606, receivables represent an entity’s unconditional right to consideration, billed or unbilled. Our balance of preneed receivables, net of allowance for bad debts, $31.6 million at December 31, 2017, included the non-current portion of receivables for preneed funeral trust contracts totaling $7.9 million. As these amounts represent undelivered performance obligations, they have been reclassified to reduce deferred preneed funeral revenue on January 1, 2018. | (4) | Under Topic 606, certain costs incurred to obtain or fulfill a contract with a customer are capitalized. Beginning January 1, 2018, we capitalize selling costs related to undelivered preneed cemetery merchandise and services and preneed funeral trust contracts. Previously, these costs were expensed in the period incurred. We recorded a cumulative adjustment of approximately $2.1 million to our opening Retained earnings, which consisted of a $2.8 million adjustment to our Intangible and other non-current assets and a $0.6 million adjustment to our Deferred tax liability on our Consolidated Balance Sheets on January 1, 2018. |
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