| RECEIVABLES |
RECEIVABLES Accounts Receivable Our funeral receivables are recorded in Accounts receivable, net and primarily consist of amounts due for funeral services already performed. Atneed cemetery receivables and preneed cemetery receivables with payments expected to be received within one year from the balance sheet date are also recorded in Accounts receivable, net. Preneed cemetery receivables with payments expected to be received beyond one year from the balance sheet date are recorded in Preneed cemetery receivables, net. Accounts receivable is comprised of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Column1 | Funeral | | Cemetery | | Corporate | | Held for Sale | | Total | | Trade and financed receivables | $ | 6,972 | | | $ | 26,292 | | | $ | — | | | $ | (1) | | | $ | 33,263 | | | Other receivables | 969 | | | 1,425 | | | 713 | | | — | | | 3,107 | | | Allowance for credit losses | (358) | | | (1,182) | | | — | | | — | | | (1,540) | | | Accounts receivable, net | $ | 7,583 | | | $ | 26,535 | | | $ | 713 | | | $ | (1) | | | $ | 34,830 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Column1 | Funeral | | Cemetery | | Corporate | | Held for Sale | | Total | | Trade and financed receivables | $ | 7,085 | | | $ | 24,355 | | | $ | — | | | $ | (833) | | | $ | 30,607 | | | Other receivables | 557 | | | 345 | | | — | | | — | | | 902 | | | Allowance for credit losses | (302) | | | (1,014) | | | — | | | — | | | (1,316) | | | Accounts receivable, net | $ | 7,340 | | | $ | 23,686 | | | $ | — | | | $ | (833) | | | $ | 30,193 | |
Other receivables include supplier rebates, commissions due from third-party insurance companies and perpetual care income receivables. The following table summarizes the activity in our allowance for credit losses by portfolio segment for the six months ended June 30, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | January 1, 2025 | | Provision for Credit Losses | | Write Offs | | Recoveries | | June 30, 2025 | | Trade and financed receivables: | | | | | | | | | | | Funeral | $ | 302 | | | $ | (518) | | | $ | 232 | | | $ | (374) | | | $ | (358) | | | Cemetery | (1,014) | | | (577) | | | 1,591 | | | — | | | — | | | Total allowance for credit losses on trade and financed receivables | $ | (712) | | | $ | (1,095) | | | $ | 1,823 | | | $ | (374) | | | $ | (358) | |
Balances due on undelivered preneed funeral trust contracts have been reclassified to reduce Deferred preneed funeral revenue on our Consolidated Balance Sheets of $8.9 million and $10.2 million at June 30, 2025 and December 31, 2024, respectively. As these performance obligations are to be completed after the date of death, we cannot quantify the recognition of revenue in future periods. However, we estimate an average maturity period of ten years for preneed funeral contracts. Cemetery Receivables Our cemetery receivables are comprised of the following (in thousands): | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Interment rights | $ | 87,512 | | | $ | 79,436 | | | Merchandise and services | 13,614 | | | 13,128 | | | Unearned finance charges | 4,787 | | | 4,983 | | | Cemetery receivables | $ | 105,913 | | | $ | 97,547 | |
The components of our cemetery receivables are as follows (in thousands): | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Cemetery receivables | $ | 105,913 | | | $ | 97,547 | | | Less: unearned finance charges | (4,787) | | | (4,983) | | | Cemetery receivables, at amortized cost | $ | 101,126 | | | $ | 92,564 | | | Less: allowance for contract cancellation and credit losses | (3,544) | | | (3,018) | | | Less: balances due on undelivered cemetery preneed contracts | (15,750) | | | (13,576) | | | Less: amounts in accounts receivable | (25,110) | | | (23,341) | | | Preneed cemetery receivables, net including HFS | $ | 56,722 | | | $ | 52,629 | | | Less: Held for sale | (5) | | | (1,671) | | | Preneed cemetery receivables, net | $ | 56,717 | | | $ | 50,958 | |
The following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net for the six months ended June 30, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | January 1, 2025 | | Provision for Credit Losses | | Write Offs | | | | June 30, 2025 | Total allowance for credit losses on Preneed cemetery receivables, net | $ | (2,004) | | | $ | (878) | | | $ | 520 | | | | | $ | (2,362) | |
The amortized cost basis of our cemetery receivables by year of origination as of June 30, 2025 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Total | | Total cemetery receivables, at amortized cost | $ | 30,003 | | | $ | 39,497 | | | $ | 17,377 | | | $ | 9,396 | | | $ | 3,431 | | | $ | 1,422 | | | $ | 101,126 | |
The aging of past due cemetery receivables as of June 30, 2025 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 31-60 Past Due | | 61-90 Past Due | | 91-120 Past Due | | >120 Past Due | | Total Past Due | | Current | | Total | | Recognized revenue | $ | 1,857 | | | $ | 1,142 | | | $ | 668 | | | $ | 3,263 | | | $ | 6,930 | | | $ | 78,446 | | | $ | 85,376 | | | Deferred revenue | 515 | | | 168 | | | 184 | | | 626 | | | 1,493 | | | 19,044 | | | 20,537 | | | Total contracts | $ | 2,372 | | | $ | 1,310 | | | $ | 852 | | | $ | 3,889 | | | $ | 8,423 | | | $ | 97,490 | | | $ | 105,913 | |
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