CARRIAGE SERVICES INC 10-K

ITEM 2. PROPERTIES. At December 31, 2020, we operated 178 funeral homes in 26 states and 32 cemeteries in 12 states. We own the real estate and buildings for 157 of our funeral homes and lease 21 facilities. We own 31 cemeteries and operate one cemetery under a long-term contract with a municipality, which we refer to as a managed property. We operate 19 funeral homes in combination with cemeteries as these locations are physically located on the same property or in very close proximity and are under the same leadership. The 32 cemeteries that we operate have developed cemetery property of approximately 152,000 and 155,000 units available-for-sale at December 31, 2019 and 2020, respectively. In addition, we own approximately 500 acres that are available for future development or sale. We anticipate having a sufficient inventory of lots to maintain our property sales for the foreseeable future. The following table sets forth certain information as of December 31, 2020, regarding our properties used by the funeral home segment and by the cemetery segment identified by state: Number of Funeral Homes Number of Cemeteries State Owned Leased (1) Owned Managed California 23 5 5 — Connecticut 7 2 — — Florida 10 5 5 — Georgia 3 — — — Idaho 4 1 3 — Illinois 2 — 1 — Kansas 2 — — — Kentucky 7 1 1 — Louisiana 3 1 1 — Massachusetts 12 — — — Michigan 2 — — — Montana 2 1 1 — Nevada 2 — 2 1 New Jersey 4 1 — — New Mexico 1 — — — New York 10 1 — — North Carolina 7 1 1 — Ohio 5 — — — Oklahoma 6 — 2 — Pennsylvania 2 — — — Rhode Island 4 — — — Tennessee 4 — — — Texas 24 1 8 — Virginia 8 1 1 — Washington 2 — — — Wisconsin 1 — — — Total 157 21 31 1 (1) The leases, with respect to these funeral homes, generally have remaining terms ranging from one to fifteen years, and generally, we have the right to renew past the initial terms and have a right of first refusal on any proposed sale of the property where these funeral homes are located. Our support center occupies approximately 48,000 square feet of leased office space in Houston, Texas. At December 31, 2020, we owned and operated 788 vehicles. 20 Table of Contents The following table sets forth the number of funeral homes and cemeteries owned and operated by us for the periods presented: Years Ended December 31, 2018 2019 2020 Funeral homes at beginning of period 178 182 186 Acquisitions 4 9 1 Divestitures — (4) (8) Mergers of funeral homes — (1) (1) Funeral homes at end of period 182 186 178 Cemeteries at beginning of period 32 29 31 Acquisitions — 2 1 Divestitures (3) — — Cemeteries at end of period 29 31 32 ITEM 3. LEGAL PROCEEDINGS. For more information regarding legal proceedings see Part II, Item 8, Financial Statements and Supplementary Data, Note 16. ITEM 4. MINE SAFETY DISCLOSURES. Not applicable. PART II