v3.25.2
Summary of Significant Accounting Policies Level 2 (Policies)
 6 Months Ended
Jun. 30, 2025
Consolidation, Policy [Policy Text Block]
Principles of Consolidation and Basis of Presentation
Our unaudited condensed consolidated financial statements include the accounts of Service Corporation International and all subsidiaries in which we hold a controlling financial interest. Intercompany balances and transactions have been eliminated in consolidation.
Our unaudited condensed consolidated financial statements also include the accounts of the merchandise, service, and cemetery perpetual care trusts in which we have a variable interest and are the primary beneficiary. We have retained the specialized industry accounting principles when consolidating the trusts. Although we consolidate the trusts, it does not change the legal relationships among the trusts, us, or our customers. The customers are the legal beneficiaries of these trusts; therefore, their interests in these trusts represent a liability to us.
Our interim condensed consolidated financial statements are unaudited but include all adjustments, consisting of normal recurring accruals and any other adjustments, which management considers necessary for a fair statement of our results for these periods. Our unaudited condensed consolidated financial statements have been prepared in a manner consistent with the accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2024, unless otherwise disclosed herein, and should be read in conjunction therewith. The accompanying year-end Condensed Consolidated Balance Sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year period.
Certain reclassifications have been made to prior period amounts to conform to the current period disclosure presentation with no effect on our consolidated net income or cash flows.
Use of Estimates, Policy [Policy Text Block]
Use of Estimates in the Preparation of Financial Statements
The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. As a result, actual results could differ from these estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]
Cash, Cash Equivalents, and Restricted Cash
We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. The carrying amounts of our cash and cash equivalents approximate fair value due to the short-term nature of these instruments.
The components of cash, cash equivalents, and restricted cash were as follows:
June 30, 2025December 31, 2024
 (In thousands)
Cash and cash equivalents$255,386 $218,766 
Restricted cash(1):
Included in Other current assets
14,477 2,000 
Included in Deferred charges and other assets, net
656 633 
Total restricted cash15,133 2,633 
Total cash, cash equivalents, and restricted cash$270,519 $221,399 
(1)    Restricted cash in both periods primarily consists of proceeds from divestitures deposited into escrow accounts under IRS code section 1031 and collateralized obligations under certain insurance policies.
Accounts Receivable [Policy Text Block]
Receivables, net
The components of Receivables, net in our unaudited Condensed Consolidated Balance Sheet were as follows:
June 30, 2025
Atneed FuneralAtneed CemeteryMiscellaneousCurrent Portion of NotesTotal
 (In thousands)
Receivables$28,529 $20,992 $39,244 $204 $88,969 
Reserve for credit losses(1,364)(2,036)(370)(114)(3,884)
Receivables, net$27,165 $18,956 $38,874 $90 $85,085 
December 31, 2024
Atneed FuneralAtneed CemeteryMiscellaneousCurrent Portion of NotesTotal
 (In thousands)
Receivables$35,950 $21,703 $40,559 $169 $98,381 
Reserve for credit losses(1,558)(2,048)(320)(114)(4,040)
Receivables, net$34,392 $19,655 $40,239 $55 $94,341 
Fair Value of Financial Instruments, Policy [Policy Text Block] The fair values of our long-term, fixed rate loans were estimated using market prices for those loans, and therefore they are classified within Level 2 of the fair value measurements hierarchy. The Term Loan, Bank Credit Facility, Corporate Headquarters Debt Facility, and the mortgage and other debt are classified within Level 3 of the fair value measurements hierarchy. The fair values of these instruments have been estimated using discounted cash flow analysis based on our incremental borrowing rate for similar borrowing arrangements. An increase (decrease) in the inputs results in a directionally opposite change in the fair value of the instruments.
New Accounting Pronouncements, Policy [Policy Text Block]
Recently Issued Accounting Standards
Income Tax
In December 2023, the FASB amended guidance that requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The new guidance is effective for us for the 2025 annual period. We are currently assessing the impact of this guidance on our disclosures, and upon adoption, we will include the required disclosures in our financial statements and related notes. We do not anticipate that the guidance will have a material effect on our financial position or results of operations.
Disaggregation of Income Statement Expenses
In November 2024, the FASB issued guidance that requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. The guidance is effective for annual reporting periods beginning after December 15, 2026, with early adoption permitted, and it can be adopted either on a prospective or retrospective basis. Upon adoption, we will include the additional disclosures in our financial statements and related notes; however, the guidance will not have a material effect on our financial position or results of operations.