← CARRIAGE SERVICES INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $19.6m $37.2m $11.6m $14.5m $16.1m $33.2m $41.4m $33.4m $33.0m $51.5m
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $19.6m $37.2m $11.6m $14.5m $16.1m $33.2m $41.4m $33.4m $33.0m —
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent $19.6m $37.2m $11.6m $14.5m $16.1m $33.2m $41.4m $33.4m $33.0m $51.5m
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest $0 — — — — — — — — —
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent $0 — — — — — — — — —
Depreciation, Depletion and Amortization $15.4m $16.0m $17.4m $17.8m $19.4m $20.5m $19.8m $21.1m $22.9m $24.5m
Amortization of Debt Issuance Costs $824k $820k $532k $392k $782k $576k $552k $699k $622k $512k
Amortization of Intangible Assets — — — — $1.3m $1.3m $1.3m $1.4m $1.4m $1.2m
Depreciation $11.5m $11.0m $12.0m $12.4m $13.0m $12.6m $13.3m $14.2m $13.7m $13.2m
Depreciation, Nonproduction — $12.6m $13.8m $13.8m $14.4m $13.8m $13.7m $14.7m $14.3m —
Other Depreciation and Amortization $15.4m $16.0m $17.4m $17.8m $19.4m $20.5m $19.8m $21.1m $22.9m $24.5m
Amortization of intangibles — — $1.2m $1.2m $1.3m $1.3m $1.3m $1.4m $1.4m $1.2m
Amortization and accretion of debt $3.9m $4.3m $2.2m $241k $216k $439k $493k $515k $539k $563k
Deferred Income Tax Expense (Benefit) $4.9m ($11.7m) $3.8m $10.1m $4.6m ($692k) $3.0m $3.3m ($698k) $4.0m
Share-based Payment Arrangement, Noncash Expense $3.2m $3.2m $6.6m $2.2m $3.4m $5.5m $6.0m $7.7m $6.5m $7.8m
Payment, Tax Withholding, Share-based Payment Arrangement — $509k $651k $194k $348k $2.6m $327k $252k $593k $8.3m
Goodwill and Intangible Asset Impairment — — $800k $500k $5.7m $1.0m $900k $900k — —
Goodwill, Impairment Loss $145k $0 $1.0m $963k — — $400k — $0 $0
Impairment of Intangible Assets (Excluding Goodwill) — — — — — — — $200k — —
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) — — — — — — — — — $0
Net loss on divestitures and impairment charges — — $1.2m $4.8m $21.4m $847k $2.0m $1.2m $2.6m $371k
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property — — — — — ($847k) ($2.0m) ($1.2m) ($2.6m) ($371k)
Gain (Loss) on Disposition of Assets — — — — — — — — — ($61k)
Gain (Loss) on Disposition of Business ($2.1m) $710k ($1.1m) ($4.1m) ($21.4m) ($666k) ($2.0m) ($1.2m) ($2.6m) ($371k)
Gain (Loss) on Disposition of Other Assets — — — — ($251k) — — — — —
Gain (Loss) on Extinguishment of Debt ($567k) $0 — — ($6k) ($23.8m) ($190k) $0 $0 —
Income Tax Expense (Benefit) $12.7m $13.1m $5.8m $7.4m $8.0m $12.3m $16.2m $13.2m $16.1m $18.8m
Interest Expense Nonoperating — — — — — — — — $32.1m $28.4m
Other Nonoperating Income (Expense) ($1.8m) $1.1m ($1.2m) ($4.1m) $152k ($84k) $82k $1.4m ($61k) $971k
Net gain on property damage, net of insurance claims — $0 $0 ($879k) ($97k) $0 ($3.5m) ($343k) ($417k) $0
Net gain on sale of excess real property — $0 $0 $121k $19k $0 ($155k) ($1.4m) $0 ($993k)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Inventories ($2.0m) ($1.4m) $159k $2.8m ($3.5m) $4.4m ($2.3m) $72k ($1.1m) $1.7m
Accretion Expense — $4.3m $2.2m $241k $216k $439k $493k $515k $539k $563k
Debt and Equity Securities, Gain (Loss) — ($838k) ($1.4m) ($377k) ($387k) ($118k) ($2.4m) ($1.6m) ($2.4m) —
Gain (Loss) on Sale of Properties — — — — — $900k $1.4m $1.4m $300k —
General and Administrative Expense $27.9m $26.3m $30.8m $25.9m $25.8m $33.9m $37.5m $42.1m $59.0m $48.6m
Goodwill $275.5m $288.0m $303.9m $398.3m $393.0m $392.0m $410.1m $423.6m $414.9m $427.9m
Nonoperating Income (Expense) ($18.0m) — — — — — — — — —
Operating Expenses $29.4m $27.9m $32.6m $27.3m — — — — — —
Realized Investment Gains (Losses) — — — — — — — $8.6m — —
Provision for credit losses $2.1m $2.2m $1.8m $1.6m $2.3m $1.8m $2.8m $3.0m $3.4m $3.6m
Stock-based compensation expense $3.2m $3.2m $6.6m $2.2m $3.4m $5.5m $6.0m $7.7m $6.5m $7.8m
Accounts and preneed receivables ($5.2m) ($4.3m) ($5.1m) ($5.8m) ($4.3m) ($4.1m) ($5.4m) ($8.1m) ($24.6m) ($28.2m)
Inventories, prepaid, and other current assets $2.0m $1.4m ($159k) ($2.8m) $3.5m ($4.4m) $2.3m ($72k) $1.1m ($1.7m)
Intangible and other non-current assets ($1.2m) $149k ($390k) ($251k) ($1.0m) ($1.2m) ($1.9m) ($3.2m) ($4.4m) ($3.5m)
Preneed funeral and cemetery trust investments ($14.5m) ($10.0m) $24.4m ($6.5m) ($5.0m) ($31.3m) ($17.7m) ($775k) $1.4m ($17.7m)
Accounts payable $2.1m ($3.6m) $2.0m ($580k) $2.7m $522k ($101k) $169k $1.6m ($369k)
Accrued and other liabilities $202k ($385k) $4.0m $1.3m $10.8m $3.5m ($9.1m) $3.0m $3.6m ($1.8m)
Deferred preneed funeral and cemetery revenue ($640k) $1.4m $6.5m $168k $528k $5.0m $1.3m $15.0m $6.9m ($1.8m)
Deferred preneed funeral and cemetery receipts held in trust $14.0m $9.2m ($29.9m) $5.5m $5.7m $29.1m $17.7m ($966k) ($3.2m) $22.7m
Acquisitions of businesses and real property ($26.6m) ($28.8m) ($38.0m) ($140.9m) ($28.0m) ($3.3m) ($33.9m) ($44.5m) $0 $59.0m
Proceeds from divestitures and sale of other assets $4.4m $5.7m $0 $967k $8.5m $7.9m $5.0m $4.1m $12.1m $44.5m
Proceeds from insurance claims — $0 $0 $1.4m $248k $7.8m $2.4m $1.4m $403k $0
Borrowings from the credit facility $71.2m $106.9m $124.5m $175.0m $109.5m $266.2m $155.4m $86.1m $54.9m $137.5m
Payments against the credit facility ($96.1m) ($82.6m) ($189.4m) ($118.3m) ($146.1m) ($158.0m) ($120.1m) ($97.7m) ($97.0m) ($147.8m)
Proceeds from the exercise of stock options and employee stock purchase plan contributions $870k $1.5m $1.2m $1.4m $1.2m $2.6m $1.7m $1.5m $2.6m $1.7m
Land purchased in exchange for debt — — — — — — — $2.5m $0 $0
Gain (Loss) on Derivative Instruments, Net, Pretax — — — — — — — — — $1.5m
Net Cash Provided by (Used in) Operating Activities $49.5m $45.2m $49.0m $43.2m $82.9m $84.2m $61.0m $75.6m $52.0m $60.7m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $16.8m $16.4m $13.5m $15.4m $15.2m $24.9m $26.1m $18.0m $16.1m $20.6m
Payments to Acquire Businesses, Net of Cash Acquired $26.6m $28.8m $38.0m $140.9m $28.0m $3.3m $33.9m $44.5m $0 $59.0m
Net Cash Provided by (Used in) Investing Activities ($45.3m) ($39.5m) ($51.5m) ($158.9m) ($34.4m) ($12.5m) ($52.5m) ($57.0m) ($3.6m) ($35.2m)
Cash flows from financing activities:
Payment of debt issuance costs for the credit facility $0 $0 $1.8m $891k $0 $2.2m ($922k) $0 ($781k) $0
Repayments of Long-term Debt $11.2m $11.2m $127.5m $0 — — — — — —
Payments on acquisition debt and obligations under finance leases — — $1.9m $2.3m $1.7m $1.3m ($882k) ($1.2m) ($1.1m) ($1.1m)
Payments for Repurchase of Common Stock $0 $16.4m $16.3m $9.2m $0 $140.0m $36.7m $0 $0 —
Payments of Ordinary Dividends, Common Stock $2 $4 $6 $5 $6 $7 $7 $7 $7 $7
Dividends paid on common stock ($2) ($4) ($6) ($5) ($6) ($7) ($7) ($7) ($7) ($7)
Net Cash Provided by (Used in) Financing Activities ($1.4m) ($8.1m) $2.2m $115.7m ($48.3m) ($71.5m) ($8.5m) ($18.2m) ($48.7m) ($25.0m)
Net increase (decrease) in cash and cash equivalents $2.8m ($2.3m) ($308k) $72k $173k $259k $22k $353k ($358k) $523k
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — — $889k $1.1m $1.2m $1.5m $1.2m $1.7m
Cash and cash equivalents at beginning of period — — $644k $716k $889k $1.1m $1.2m $1.5m $1.2m $1.7m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities — — — — — — — $34.7m $30.6m $26.8m
Income Taxes Paid, Net ($578k) ($509k) ($651k) ($194k) ($348k) ($2.6m) ($327k) ($252k) ($593k) $17.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.