SEC Info - Stonemor Partners LP - ‘10-Q’ for 9/30/13

Stonemor Partners LP – ‘10-Q’ for 9/30/13 – ‘R7’

On: Thursday, 11/7/13, at 1:56pm ET · For: 9/30/13 · Accession #: 1193125-13-432439 · File #: 1-32270

As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 11/07/13 Stonemor Partners LP 10-Q 9/30/13 88:11M Donnelley … Solutions/FA

Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 885K 2: EX-31.1 Certification -- §302 - SOA'02 HTML 30K 3: EX-31.2 Certification -- §302 - SOA'02 HTML 30K 4: EX-32.1 Certification -- §906 - SOA'02 HTML 27K 5: EX-32.2 Certification -- §906 - SOA'02 HTML 27K 85: R1 Document and Entity Information HTML 47K 58: R2 Condensed Consolidated Balance Sheet HTML 127K 53: R3 Condensed Consolidated Statement of Operations HTML 116K 15: R4 Condensed Consolidated Statement of Operations HTML 28K (Parenthetical) 56: R5 Condensed Consolidated Statement of Partners' HTML 42K Capital 37: R6 Condensed Consolidated Statement of Cash Flows HTML 149K 74: R7 Nature of Operations, Basis of Presentation And HTML 36K Summary of Significant Accounting Policies 38: R8 Long-Term Accounts Receivable, Net of Allowance HTML 40K 41: R9 Cemetery Property HTML 31K 16: R10 Property and Equipment HTML 34K 39: R11 Merchandise Trusts HTML 121K 73: R12 Perpetual Care Trusts HTML 115K 68: R13 Goodwill and Intangible Assets HTML 50K 54: R14 Long-Term Debt HTML 52K 81: R15 Income Taxes HTML 34K 72: R16 Deferred Cemetery Revenues, Net HTML 35K 12: R17 Commitments and Contingencies HTML 34K 20: R18 Partners' Capital HTML 37K 80: R19 Acquisitions HTML 126K 84: R20 Segment Information HTML 179K 86: R21 Fair Value Measurements HTML 100K 83: R22 Nature of Operations, Basis of Presentation And HTML 45K Summary of Significant Accounting Policies (Policies) 61: R23 Long-Term Accounts Receivable, Net of Allowance HTML 39K (Tables) 17: R24 Property and Equipment (Tables) HTML 38K 36: R25 Merchandise Trusts (Tables) HTML 204K 25: R26 Goodwill and Intangible Assets (Tables) HTML 48K 24: R27 Long-Term Debt (Tables) HTML 43K 43: R28 Deferred Cemetery Revenues, Net (Tables) HTML 34K 60: R29 Commitments and Contingencies (Tables) HTML 31K 70: R30 Partners' Capital (Tables) HTML 34K 30: R31 Acquisitions (Tables) HTML 102K 44: R32 Segment Information (Tables) HTML 169K 77: R33 Fair Value Measurements (Tables) HTML 93K 27: R34 Nature of Operations Basis of Presentation and HTML 35K Summary of Significant Accounting Policies - 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1.	NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

StoneMor Partners L.P. (“StoneMor”, the “Company” or the “Partnership”) is a provider of funeral and cemetery products and services in the death care industry in the United States. Through its subsidiaries, StoneMor offers a complete range of funeral merchandise and services, along with cemetery property, merchandise and services, both at the time of need and on a pre-need basis. As of September 30, 2013, the Partnership owned 259 and operated 277 cemeteries in 27 states and Puerto Rico and owned and operated 90 funeral homes in 18 states and Puerto Rico.

Basis of Presentation

The unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All interim financial data is unaudited. However, in the opinion of management, the interim financial data as of September 30, 2013 and for the three and nine months ended September 30, 2013 and 2012 includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results of operations to be expected for a full year. The December 31, 2012 condensed consolidated balance sheet data was derived from audited financial statements included in the Company’s 2012 Annual Report on Form 10-K (“2012 Form 10-K”), but does not include all disclosures required by GAAP, which are presented in the Company’s 2012 Form 10-K.

As of September 30, 2013, the Company’s presentation of income tax expense (benefit) within its unaudited condensed consolidated statement of operations has changed. The components of the income tax expense (benefit), “State” and “Federal,” previously presented as two subcaptions, have been collapsed into one caption “Income tax expense (benefit).” This change in the income tax expense (benefit) presentation has no effect on previously reported net income (loss).

Principles of Consolidation

The unaudited condensed consolidated financial statements include the accounts of each of the Company’s subsidiaries. These statements also include the accounts of the merchandise and perpetual care trusts in which the Company has a variable interest and is the primary beneficiary. The Company operates 18 cemeteries under long-term operating or management contracts. The operations of 16 of these managed cemeteries have been consolidated in accordance with the provisions of Accounting Standards Codification (ASC) 810.

The Company operates 2 cemeteries under long-term operating agreements that do not qualify as acquisitions for accounting purposes. As a result, the Company did not consolidate all of the existing assets and liabilities related to these cemeteries. The Company has consolidated the existing assets and liabilities of each of these cemeteries’ merchandise and perpetual care trusts as variable interest entities since the Company controls and receives the benefits and absorbs any losses from operating these trusts. Under these long-term operating agreements, which are subject to certain termination provisions, the Company is the exclusive operator of these cemeteries. The Company earns revenues related to sales of merchandise, services, and interment rights and incurs expenses related to such sales and the maintenance and upkeep of these cemeteries. Upon termination of these contracts, the Company will retain all of the benefits and related contractual obligations incurred from sales generated during the contract period. The Company has also recognized the existing merchandise liabilities that it assumed as part of these agreements.

Use of Estimates

Preparation of these unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expense during the reporting periods. As a result, actual results could differ from those estimates. The most significant estimates in the unaudited condensed consolidated financial statements are the valuation of assets in the merchandise trusts and perpetual care trusts, allowance for cancellations, unit-based compensation, merchandise liability, deferred sales revenue, deferred margin, deferred merchandise trust investment earnings, deferred obtaining costs and income taxes. Deferred sales revenue, deferred margin and deferred merchandise trust investment earnings are included in deferred cemetery revenues, net, on the unaudited condensed consolidated balance sheet.

This ‘10-Q’ Filing

Date

Other Filings

Filed on:

11/7/13

8-K

For Period end:

9/30/13

12/31/12

10-K

9/30/12

10-Q

List all Filings

Stonemor Partners LP – ‘10-Q’ for 9/30/13 – ‘R7’

On: Thursday, 11/7/13, at 1:56pm ET · For: 9/30/13 · Accession #: 1193125-13-432439 · File #: 1-32270

Previous ‘10-Q’: ‘10-Q’ on 8/7/13 for 6/30/13 · Next: ‘10-Q’ on 5/8/14 for 3/31/14 · Latest: ‘10-Q’ on 11/8/19 for 9/30/19

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

‘R7’ — Nature of Operations, Basis of Presentation And Summary of Significant Accounting Policies

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

Stonemor Partners LP – ‘10-Q’ for 9/30/13 – ‘R7’

On: Thursday, 11/7/13, at 1:56pm ET · For: 9/30/13 · Accession #: 1193125-13-432439 · File #: 1-32270

Previous ‘10-Q’: ‘10-Q’ on 8/7/13 for 6/30/13 · Next: ‘10-Q’ on 5/8/14 for 3/31/14 · Latest: ‘10-Q’ on 11/8/19 for 9/30/19

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘R7’ — Nature of Operations, Basis of Presentation And Summary of Significant Accounting Policies

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents