CARRIAGE SERVICES INC Leases Disclosure
| Years Ended December 31, | ||||||||||||||||||||||||||
| Income Statement Classification | 2025 | 2024 | 2023 | |||||||||||||||||||||||
| Operating lease cost | Facilities and grounds expense(1) | $ | 3,865 | $ | 3,998 | $ | 3,526 | |||||||||||||||||||
| Short-term lease cost | Facilities and grounds expense(1) | 277 | 232 | 372 | ||||||||||||||||||||||
| Variable lease cost | Facilities and grounds expense(1) | 183 | 380 | 234 | ||||||||||||||||||||||
| Finance lease cost: | ||||||||||||||||||||||||||
| Depreciation of leased assets | Depreciation and amortization(2) | $ | 543 | 511 | 541 | |||||||||||||||||||||
| Interest on lease liabilities | Interest expense | 967 | 506 | 500 | ||||||||||||||||||||||
| Total finance lease cost | 1,510 | 1,017 | 1,041 | |||||||||||||||||||||||
| Total lease cost | $ | 5,835 | $ | 5,627 | $ | 5,173 | ||||||||||||||||||||
| (1) | Facilities and grounds expense is included within Cost of service and General, administrative, and other on our Consolidated Statements of Operations. | |||||||||||||
| (2) | Depreciation and amortization expense is included within Field depreciation expense and General, administrative, and other on our Consolidated Statements of Operations. | |||||||||||||
| Year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Cash paid for operating leases included in operating activities | $ | 4,833 | $ | 4,325 | $ | 3,779 | |||||||||||
| Cash paid for finance leases included in financing activities | 642 | 1,083 | 1,153 | ||||||||||||||
| Year ended December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 1,501 | $ | 1,224 | |||||||
| Right-of-use assets obtained in exchange for new finance lease liabilities | 3,761 | 1,027 | |||||||||
| Lease Type | Balance Sheet Classification | December 31, 2025 | December 31, 2024 | |||||||||||||||||
| Operating lease right-of-use assets | Operating lease right-of-use assets | $ | 12,045 | $ | 14,953 | |||||||||||||||
| Finance lease right-of-use assets | $ | 12,174 | $ | 8,564 | ||||||||||||||||
| Accumulated depreciation | Property, plant, and equipment, net | (3,817) | (3,214) | |||||||||||||||||
| Finance lease right-of-use assets, net | $ | 8,357 | $ | 5,350 | ||||||||||||||||
| Operating lease current liabilities | Current portion of operating lease obligations | $ | 3,084 | $ | 2,810 | |||||||||||||||
| Finance lease current liabilities | Current portion of finance lease obligations | 605 | 533 | |||||||||||||||||
| Total current lease liabilities | Total current lease liabilities | $ | 3,689 | $ | 3,343 | |||||||||||||||
| Operating lease non-current liabilities | $ | 10,538 | $ | 14,035 | ||||||||||||||||
| Finance lease non-current liabilities | 9,339 | 6,045 | ||||||||||||||||||
| Total non-current lease liabilities | Total non-current lease liabilities | $ | 19,877 | $ | 20,080 | |||||||||||||||
| Total lease liabilities | $ | 23,566 | $ | 23,423 | ||||||||||||||||
| Weighted-average remaining lease term (years) | Weighted-average discount rate | ||||||||||
| Operating leases | 6.0 | 8.2 | % | ||||||||
| Finance leases | 22.4 | 8.7 | % | ||||||||
| Operating | Finance | ||||||||||
| Lease payments due: | |||||||||||
| 2026 | $ | 4,008 | $ | 1,681 | |||||||
| 2027 | 3,838 | 1,676 | |||||||||
| 2028 | 3,518 | 1,184 | |||||||||
| 2029 | 2,873 | 1,093 | |||||||||
| 2030 | 813 | 1,108 | |||||||||
| Thereafter | 1,831 | 15,663 | |||||||||
| Total lease payments | $ | 16,881 | $ | 22,405 | |||||||
| Less: Interest | (3,259) | (12,461) | |||||||||
| Present value of lease liabilities, including HFS | $ | 13,622 | $ | 9,944 | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Mar 1, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Mar 2, 2022 | |
| 2020 | Mar 2, 2021 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.