Service Corp Intl Files 2024 Annual Report

Ticker: SCI · Form: 10-K · Filed: Feb 13, 2025 · CIK: 89089

Sentiment: neutral

Topics: annual-report, sec-filing, financials

Related Tickers: SCI

TL;DR

SCI filed its 2024 10-K. All good on filings.

AI Summary

Service Corporation International (SCI) filed its annual report for the fiscal year ended December 31, 2024. The company is registered with the SEC under file number 1-6402-1 and its common stock is traded on the New York Stock Exchange under the symbol SCI. SCI is a well-known seasoned issuer and has met all filing requirements for the preceding 12 months and the past 90 days.

Why It Matters

This filing provides a comprehensive overview of Service Corporation International's financial performance and operational status for the fiscal year 2024, crucial for investors assessing the company's health and future prospects.

Risk Assessment

Risk Level: low — The filing indicates that Service Corporation International has met all its reporting requirements, suggesting a stable and compliant company.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this 10-K filing?

This 10-K filing serves as an annual report for Service Corporation International, providing a comprehensive overview of its business and financial condition for the fiscal year ended December 31, 2024.

On which stock exchange is Service Corporation International's common stock traded?

Service Corporation International's common stock is traded on the New York Stock Exchange.

What is the trading symbol for Service Corporation International's common stock?

The trading symbol for Service Corporation International's common stock is SCI.

Has Service Corporation International met its filing requirements for the past 90 days?

Yes, the filing indicates that Service Corporation International has been subject to the filing requirements for the past 90 days.

What is the principal executive office address of Service Corporation International?

The principal executive offices of Service Corporation International are located at 1929 Allen Parkway, Houston, Texas 77019.

Filing Stats: 4,465 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2025-02-13 16:58:05

Key Financial Figures

Filing Documents

Business

Business 5 Item 1A. Risk Factor s 14 Item 1B. Unresolved Staff Comments 20 Item 1C. Cybersecurity 20 Item 2.

Properties

Properties 21 Item 3.

Legal Proceedings

Legal Proceedings 21 Item 4. Mine Safety Disclosures 22 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 23 Item 6. [Reserved] 24 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 36 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 38 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 84 Item 9A.

Controls and Procedures

Controls and Procedures 84 Item 9B. Other Information 85 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 85 PART III Item 10. Directors, Executive Officers, and Corporate Governance 86 Item 11.

Executive Compensation

Executive Compensation 86 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 86 Item 13. Certain Relationships and Related Transactions and Director Independence 86 Item 14. Principal Accountant Fees and Services 86 PART IV Item 15. Exhibits and Financial Statement Schedules 87 Item 16. Form 10-K Summary 89

Signatures

Signatures 90 2 Service Corporation International Glossary The following terms are common to the deathcare industry, are used throughout this report, and have the following meanings: Atneed — Funeral, including cremation, and cemetery arrangements sold once death has occurred. Average Revenue per Service — Average revenue per funeral service performed, excluding the impact of non-funeral home preneed sales revenue, core general agency revenue, and certain other revenue. Cancellation — Termination of a preneed contract, which relieves us of the obligation to provide the goods and services included in the contract. Cancellations may be requested by the customer or be initiated by us for failure to comply with the contractual terms of payment. State or provincial laws govern the amount of refund, if any, owed to the customer. Care Trusts' Corpus — The deposits and net realized capital gains included in the cemetery perpetual care trusts that may not be withdrawable. In certain states, some or all of the net realized capital gains can be distributed to us. Additionally, some states allow a total return distribution that may contain elements of income, capital appreciation, and principal. Cemetery Marker — An item used to identify the deceased person in a particular burial space, crypt, niche, or cremation memorialization property. Permanent burial and cremation memorialization cemetery markers are usually made of bronze or stone. Cemetery Merchandise and Services — Merchandise and services used in connection with a cemetery interment, including stone and bronze memorials, cemetery markers, outer burial containers, floral placement, graveside services, merchandise installations, urns, and interments. Cemetery Perpetual Care Trust or Endowment Care Fund (ECF) — A trust fund established for the purpose of maintaining cemetery grounds and property into perpetuity. For these trusts, the corpus generally remains in the trust in perpetuity and the investment earni

Business

Item 1. Business General We are North America's largest provider of deathcare products and services, with a network of funeral service locations and cemeteries unequaled in geographic scale and reach. At December 31, 2024, we operated 1,493 funeral service locations and 496 cemeteries (including 308 funeral service/cemetery combination locations), which are geographically diversified across 44 states, eight Canadian provinces, the District of Columbia, and Puerto Rico. We are well known for our Dignity Memorial brand, North America's first transcontinental brand of deathcare products and services. Our other brands include Dignity Planning , National Cremation Society , Advantage Funeral and Cremation Services, Funeraria del Angel , Making Everlasting Memories , Neptune Society and Trident Society . Our funeral service and cemetery operations consist of funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other related businesses, which enable us to serve a wide array of customer needs. We sell cemetery property and funeral and cemetery merchandise and services at the time of need and on a preneed basis. Human Capital Management At December 31, 2024, we employed 17,685 full-time individuals and 7,268 part-time individuals. Of the full-time associates, 14,946 were employed in the funeral and cemetery operations and 2,739 were employed in corporate or other overhead areas of our business. Approximately 2.4% of our associates are represented by unions. Although labor disputes occur from time to time, relations with associates are generally considered favorable. We reach out to our associates for feedback throughout their employment at SCI using a variety o f voluntary surveys in an effort to determine if we are meeting the needs and expectations of our workforce. As a result, we have been certified as a Great Place To Work since 2017 in the U.S. and since 2020 in Canada. Associate Benefits Eligible associates in

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