v3.26.1
Business Combinations
 6 Months Ended
Jun. 30, 2026
Business Combination [Abstract]  
Business Combinations BUSINESS COMBINATIONS
On May 27, 2026, we acquired a business consisting of one funeral home for approximately $4.5 million. We acquired substantially all of the assets and assumed certain operating liabilities of this business.
The following table summarizes the breakdown of the preliminary purchase price allocation for the business described above (in thousands):
Preliminary Purchase Price Allocation
Current assets$58 
Property, plant, and equipment3,024 
Goodwill1,096 
Intangible and other non-current assets322 
Purchase price$4,500 
The purchase accounting is preliminary as we have not finalized our assessment of the fair value because there has been insufficient time between the acquisition date and the issuance of these financial statements to complete our review and the final determination of fair value.
The primary reasons for the acquisition that contributed to the recognition of goodwill include the expansion of our footprint in strategic markets.
The pro forma impact of this acquisition on prior periods is not presented, as the impact is not significant to our reported results. The results of the acquired business is reflected in our Condensed Consolidated Statements of Operations from the date of acquisition.
On September 9, 2025, we acquired a business consisting of six funeral homes, one cemetery, and one cremation focused business in the Orlando, FL area for approximately $49.0 million. The purchase price consisted of $47.0 million in cash at closing and $2.0 million of deferred purchase price payments. The net present value of such future deferred purchase price payments was $1.3 million. We acquired substantially all of the assets and assumed certain operating liabilities of these businesses.
On September 17, 2025, we acquired a business consisting of two funeral homes in the Pensacola, FL area for $9.5 million in cash. We acquired substantially all of the assets and assumed certain operating liabilities of this business.
The primary reasons for the acquisitions that contributed to the recognition of goodwill include enhancement of our footprint in strategic markets and the addition of deferred revenue that will enhance our long-term stability.
The pro forma impact of these acquisitions on prior periods is not presented, as the impact is not significant to our reported results. The results of the acquired businesses are reflected in our Condensed Consolidated Statements of Operations from the date of acquisition.
The following table summarizes the breakdown of the preliminary purchase price allocation for the businesses described above (in thousands):
Preliminary Purchase Price Allocation
Current assets$3,302 
Preneed trust assets4,068 
Property, plant, and equipment23,315 
Cemetery property2,733 
Goodwill37,746 
Intangible and other non-current assets3,222 
Assumed liabilities(1,293)
Preneed trust liabilities(4,068)
Deferred revenue(12,526)
Purchase price$56,499 
The purchase price allocation was updated for immaterial measurement-period adjustments; no other material changes to the acquisition accounting were identified. The purchase accounting is preliminary as we have not finalized our assessment of the fair value because there has been insufficient time between the acquisition date and the issuance of these financial statements to complete our review and the final determination of fair value. We are also currently reviewing the allocation of goodwill between segments.