SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2019

16.	SEGMENT INFORMATION

Management operates the Partnership’s in two reportable operating segments: Cemetery Operations and Funeral Home Operations. These operating segments reflect the way the Partnership manages its operations and makes business decisions. Management evaluates the performance of these operating segments based on interments performed, interment rights sold, pre-need cemetery and at-need cemetery contracts written, revenue and segment profit (loss). As a percentage of revenue and assets, the Partnership’s major operations consist of its cemetery operations.

The following tables present financial information with respect to the Partnership’s segments (in thousands). Corporate costs represent those not directly associated with an operating segment, such as corporate overhead, interest expense and income taxes. Corporate assets primarily consist of cash and cash equivalents and restricted cash.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
STATEMENT OF OPERATIONS DATA:
Cemetery Operations:
Revenues	$	60,750		$	61,405		$	184,288		$	191,328
Operating costs and expenses		(54,681	)		(57,440	)		(166,777	)		(176,925	)
Depreciation and amortization		(1,853	)		(1,858	)		(5,735	)		(6,043	)
Segment operating profit	$	4,216		$	2,107		$	11,776		$	8,360
Funeral Home Operations:
Revenues		12,401			11,780			38,827			41,373
Operating costs and expenses		(10,669	)		(10,148	)		(32,636	)		(33,835	)
Depreciation and amortization		(602	)		(652	)		(1,788	)		(2,066	)
Segment operating profit	$	1,130		$	980		$	4,403		$	5,472
Reconciliation of segment operating profit to net loss:
Cemetery Operations		4,216			2,107			11,776			8,360
Funeral Home Operations		1,130			980			4,403			5,472
Total segment profit		5,346			3,087			16,179			13,832
Corporate overhead		(11,595	)		(12,876	)		(38,145	)		(39,868	)
Corporate depreciation and amortization		(192	)		(227	)		(597	)		(744	)
Other gains (losses), net		(129	)		702			(3,558	)		(4,503	)
Loss on debt extinguishment		—			—			(8,478	)		—
Loss on impairment of goodwill		(24,862	)		—			(24,862	)
Interest expense		(12,765	)		(7,638	)		(35,282	)		(22,858	)
Income tax benefit (expense)		1,545			(273	)		(4,841	)		1,976
Net loss	$	(42,652	)	$	(17,225	)	$	(99,584	)	$	(52,165	)

CASH FLOW DATA:
Capital expenditures:
Cemetery Operations	$	411		$	2,105		$	4,222		$	9,378
Funeral Home Operations		465			246			1,447			465
Corporate		29			187			74			321
Total capital expenditures	$	905		$	2,538		$	5,743		$	10,164

	September 30, 2019		December 31, 2018
BALANCE SHEET DATA:
Assets:
Cemetery Operations	$	1,507,873	$	1,508,667
Funeral Home Operations		146,708		136,064
Corporate		75,942		24,370
Total assets	$	1,730,523	$	1,669,101
Goodwill:
Cemetery Operations	$	—	$	24,862

STONEMOR PARTNERS LP 10-Q