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Conference call on Wednesday, August 3, 2022, at 8:00 a.m. Central Time. 
HOUSTON, Aug. 2, 2022 /PRNewswire/ — Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, today reported results for the second quarter of 2022.
Tom Ryan, the Company’s Chairman and CEO, commented on second quarter results:
"Today we are very pleased to report solid adjusted earnings per share of $0.84 and net cash provided by operating activities of $141 million for the second quarter of 2022. While our earnings per share is slightly below the prior year quarter that was materially impacted by the effects of COVID-19, we are still performing notably more services, generating significantly more preneed cemetery sales, and delivering a compelling increase in earnings per share as compared to 2020 and pre-pandemic levels.
We are also pleased to confirm our full year 2022 guidance for adjusted earnings guidance and adjusted operating cash flow. Looking forward, we believe that our operating platform and healthy financial condition will allow us to continue to grow revenue, leverage our scale, and deploy capital wisely to enhance shareholder value.
These results would not be possible without the hard work of our 24,000 associates. I would like to thank our entire SCI family for helping our client families gain closure and healing through remembrance and celebration."
Second Quarter Highlights:
Details of our second quarter of 2022 financial results and the unaudited consolidated financial statements can be found in the Appendix at the end of this press release. The table below summarizes our key financial results.
(Dollars in millions, except for per share amounts)
Three months ended June 30,
Six months ended June 30,
2022
2021
2022
2021
Revenue
$          990.9
$          987.5
$       2,103.3
$       2,065.5
Operating income
$          221.2
$          245.8
$          556.9
$          587.9
Net income attributable to common stockholders
$          132.7
$          157.7
$          352.2
$          386.6
Diluted earnings per share
$            0.82
$            0.92
$            2.17
$            2.25
Earnings excluding special items ⁽¹⁾
$          135.1
$          157.4
$          354.7
$          385.3
Diluted earnings per share excluding special items ⁽¹⁾
$            0.84
$            0.92
$            2.18
$            2.25
Diluted weighted average shares outstanding
161.3
170.9
162.6
171.6
Net cash provided by operating activities
$          140.7
$          192.2
$          472.9
$          489.8
(1)
Earnings excluding special items and diluted earnings per share excluding special items are non-GAAP financial measures. These items are also referred to as "adjusted earnings" and "adjusted earnings per share." A reconciliation from net income attributable to common stockholders and diluted earnings per share in accordance with generally accepted accounting principles in the United States (GAAP) can be found later in this press release under the heading "Non-GAAP Financial Measures" in the Appendix at the end of this press release.
CONFIRMED OUTLOOK FOR 2022
The guidance provided below continues to have a wider range than usual due to the uncertainty around the impact of the COVID-19 pandemic. Our outlook for net cash provided by operating activities excluding special items reflects an estimated $20 million of payroll tax payments in 2022 that were deferred from 2020 as allowed under the CARES Act.
(Dollars in millions, except per share amounts)
 2022 Outlook
Diluted earnings per share excluding special items ⁽¹⁾
$3.30 – $3.70
Net cash provided by operating activities excluding special items and cash taxes ⁽¹⁾
$940 – $980
Cash taxes expected in 2022
$180 – $190
Net cash provided by operating activities excluding special items ⁽¹⁾
$750 – $800
Capital improvements at existing locations and cemetery development expenditures
$270 – $290
(1)
Diluted earnings per share excluding special items and net cash provided by operating activities excluding special items are non-GAAP financial measures. We normally reconcile these non-GAAP financial measures from diluted earnings per share and net cash provided by operating activities; however, diluted earnings per share and net cash provided by operating activities calculated in accordance with GAAP are not currently accessible on a forward-looking basis. Our outlook for 2022 excludes the following because this information is not currently available for 2022: Expenses net of insurance recoveries related to weather events and hurricanes, gains or losses associated with asset divestitures, gains or losses associated with the early extinguishment of debt, potential tax reserve adjustments and IRS payments and/or refunds, acquisition and integration costs, system implementation and transition costs, and potential costs associated with settlements of litigation or the recognition of receivables for insurance recoveries associated with litigation, or deferred tax payments. The foregoing items could materially impact our forward-looking diluted earnings per share and/or our net cash provided by operating activities calculated in accordance with GAAP, consistent with the historical disclosures found in the Appendix at the end of this press release under the headings "Cash Flow and Capital Spending" and "Non-GAAP Financial Measures".
CONFERENCE CALL AND WEBCAST
We will host a conference call on Wednesday, August 3, 2022, at 8:00 a.m. Central Time. A question and answer session will follow a brief presentation made by management. The conference call dial-in numbers are (888) 317-6003 (US) or (412) 317-6061 (International) with the passcode of 8489167. The conference call will also be broadcast live via the Internet and can be accessed through our website at www.sci-corp.com. A replay of the conference call will be available through August 10, 2022 and can be accessed at (877) 344-7529 (US) or (412) 317-0088  (International) with the passcode of 3658741. Additionally, a replay of the conference call will be available on our website for approximately three months.
ABOUT SERVICE CORPORATION INTERNATIONAL
Service Corporation International (NYSE: SCI), headquartered in Houston, Texas, is North America’s leading provider of funeral, cemetery and cremation services, as well as final-arrangement planning in advance, serving more than 600,000 families each year. Our diversified portfolio of brands provides families and individuals a full range of choices to meet their needs, from simple cremations to full life celebrations and personalized remembrances. Our Dignity Memorial® brand is the name families turn to for professionalism, compassion, and attention to detail that is second to none. At June 30, 2022, we owned and operated 1,459 funeral service locations and 488 cemeteries (of which 300 are combination locations) in 44 states, eight Canadian provinces, the District of Columbia, and Puerto Rico. For more information about Service Corporation International, please visit our website at www.sci-corp.com. For more information about Dignity Memorial®, please visit www.dignitymemorial.com.
For additional information contact:
Investors:
Debbie Young – Director / Investor Relations
(713) 525-9088
Media:
Jay Andrew – Assistant Vice President / Corporate Communications
(713) 525-3468
CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS  
The statements in this press release that are not historical facts are forward-looking statements made in reliance on the "safe harbor" protections provided under the Private Securities Litigation Reform Act of 1995. These statements may be accompanied by words such as "believe," "estimate," "project," "expect," "anticipate," "predict," or other similar words that convey the uncertainty of future events or outcomes. The absence of these words, however, does not mean that the statements are not forward-looking. These statements are based on assumptions that we believe are reasonable; however, many important factors could cause our actual results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by us, or on our behalf. Important factors, which could cause actual results to differ materially from those in forward-looking statements include, among others, the following:
For further information on these and other risks and uncertainties, see our Securities and Exchange Commission filings, including our 2021 Annual Report on Form 10-K. Copies of this document as well as other SEC filings can be obtained from our website at www.sci-corp.com. We assume no obligation and make no undertaking to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by us whether as a result of new information, future events, or otherwise.
SERVICE CORPORATION INTERNATIONAL
APPENDIX: RESULTS FOR THE SECOND QUARTER OF 2022
Consolidated Statement of Operations (Unaudited)
(Dollars in thousands, except per share amounts)
Three months ended
Six months ended
June 30,
June 30,
2022
2021
2022
2021
Revenue
$        990,855
$        987,535
$      2,103,258
$      2,065,516
Cost of revenue
(724,210)
(714,211)
(1,459,700)
(1,409,749)
Gross profit
266,645
273,324
643,558
655,767
Corporate general and administrative expenses
(45,721)
(33,649)
(87,425)
(75,318)
Gains on divestitures and impairment charges, net
294
6,162
783
7,428
Operating income
221,218
245,837
556,916
587,877
Interest expense
(40,571)
(37,435)
(79,599)
(73,247)
Losses on early extinguishment of debt, net
(1,225)
(5,226)
(1,225)
(5,226)
Other (expense) income, net
(1,103)
655
(975)
996
Income before income taxes
178,319
203,831
475,117
510,400
Provision for income taxes
(45,173)
(46,042)
(122,404)
(123,656)
Net income
133,146
157,789
352,713
386,744
Net income attributable to noncontrolling interests
(476)
(84)
(530)
(160)
Net income attributable to common stockholders
$        132,670
$        157,705
$        352,183
$        386,584
Basic earnings per share:
Net income attributable to common stockholders
$              0.84
$              0.94
$              2.20
$              2.29
Basic weighted average number of shares
158,705
168,450
160,009
169,180
Diluted earnings per share:
Net income attributable to common stockholders
$              0.82
$              0.92
$              2.17
$              2.25
Diluted weighted average number of shares
161,290
170,863
162,568
171,616
Consolidated Balance Sheet (Unaudited)
(Dollars in thousands, except share amounts)
June 30, 2022
December 31, 2021
ASSETS
Current assets:
Cash and cash equivalents
$              206,242
$             268,626
Receivables, net
93,479
106,051
Inventories
30,070
25,935
Other
31,979
40,448
Total current assets
361,770
441,060
Preneed receivables, net and trust investments
5,418,621
6,015,323
Cemetery property
1,899,554
1,900,844
Property and equipment, net
2,268,215
2,252,158
Goodwill
1,913,448
1,915,082
Deferred charges and other assets, net
1,158,650
1,169,813
Cemetery perpetual care trust investments
1,681,703
1,996,898
Total assets
$          14,701,961
$        15,691,178
LIABILITIES & EQUITY
Current liabilities:
Accounts payable and accrued liabilities
$              635,536
$             659,494
Current maturities of long-term debt
63,240
65,016
Income taxes payable
16,335
3,751
Total current liabilities
715,111
728,261
Long-term debt
3,954,475
3,901,304
Deferred revenue, net
1,583,394
1,532,749
Deferred tax liability
437,010
437,902
Other liabilities
410,597
438,903
Deferred receipts held in trust
4,085,657
4,766,492
Care trusts’ corpus
1,676,134
1,976,118
Equity:
Common stock, $1 per share par value, 500,000,000 shares authorized,
167,575,348 and 166,821,502 shares issued, respectively, and 158,219,257 and
163,114,202 shares outstanding, respectively
158,219
163,114
Capital in excess of par value
968,455
979,096
Retained earnings
679,052
727,021
Accumulated other comprehensive income
33,627
40,214
Total common stockholders’ equity
1,839,353
1,909,445
Noncontrolling interests
230
4
Total equity
1,839,583
1,909,449
Total liabilities and equity
$          14,701,961
$        15,691,178
Consolidated Statement of Cash Flows (Unaudited)
(Dollars in thousands)
Six months ended June 30,
2022
2021
Cash flows from operating activities:
Net income
$         352,713
$         386,744
Adjustments to reconcile net income to net cash provided by operating activities:
Losses on early extinguishment of debt, net
1,225
5,226
Depreciation and amortization
86,234
79,552
Amortization of intangibles
9,478
10,127
Amortization of cemetery property
47,327
52,362
Amortization of loan costs
3,526
3,118
Provision for expected credit losses
6,756
6,389
(Benefit from) provision for deferred income taxes
(3,723)
1,986
Gains on divestitures and impairment charges, net
(783)
(7,428)
Gain on sale of investments
(1,169)
—
Share-based compensation
7,400
7,096
Change in assets and liabilities, net of effects from acquisitions and divestitures:
Decrease (increase) in receivables
11,878
(1,002)
Decrease (increase) in other assets
1,680
(31,340)
(Decrease) increase in payables and other liabilities
(8,582)
56,891
Effect of preneed sales production and maturities:
Increase in preneed receivables, net and trust investments
(178,619)
(160,465)
Increase in deferred revenue, net
123,450
66,107
Increase in deferred receipts held in trust
14,094
14,401
Net cash provided by operating activities
472,885
489,764
Cash flows from investing activities:
Capital expenditures
(152,445)
(103,161)
Business acquisitions, net of cash acquired
(2,000)
(3,591)
Real estate acquisitions
(3,912)
(10,498)
Proceeds from divestitures and sales of property and equipment
6,968
12,232
Proceeds from sale of investments
1,169
—
Payments for Company-owned life insurance policies
(1,690)
(3,534)
Net cash used in investing activities
(151,910)
(108,552)
Cash flows from financing activities:
Proceeds from issuance of long-term debt
143,000
820,000
Debt issuance costs
—
(13,618)
Scheduled payments of debt
(18,142)
(18,070)
Early payments and extinguishment of debt
(65,591)
(699,837)
Principal payments on finance leases
(17,920)
(16,091)
Proceeds from exercise of stock options
16,197
16,254
Purchase of Company common stock
(360,114)
(187,183)
Payments of dividends
(79,627)
(70,920)
Bank overdrafts and other
(5,759)
(7,030)
Net cash used in financing activities
(387,956)
(176,495)
Effect of foreign currency
(1,897)
3,311
Net (decrease) increase in cash, cash equivalents, and restricted cash
(68,878)
208,028
Cash, cash equivalents, and restricted cash at beginning of period
278,555
238,610
Cash, cash equivalents, and restricted cash at end of period
$         209,677
$         446,638
Consolidated Segment Results
(See definitions of revenue line items later in this appendix.)
(Dollars in millions, except average revenue per service)
Three months ended June 30,
Six months ended June 30,
2022
2021
2022
2021
Consolidated funeral:
Atneed revenue
$       286.0
$       282.3
$       639.4
$       620.4
Matured preneed revenue
165.8
159.5
360.7
349.6
Core revenue
451.8
441.8
1,000.1
970.0
Non-funeral home revenue
17.7
16.9
38.5
36.6
Recognized preneed revenue
42.6
33.1
85.7
74.9
Other revenue
36.7
39.9
73.6
69.6
Total revenue
$       548.8
$       531.7
$     1,197.9
$     1,151.1
Gross profit
$       116.6
$        111.8
$        312.6
$        306.2
Gross profit percentage
21.2 %
21.0 %
26.1 %
26.6 %
Funeral services performed
86,518
85,682
191,948
192,092
Average revenue per service
$       5,427
$       5,354
$        5,411
$        5,240
(Dollars in millions)
Three months ended June 30,
Six months ended June 30,
2022
2021
2022
2021
Consolidated cemetery:
Atneed property revenue
$         34.7
$         35.1
$         79.4
$         79.4
Atneed merchandise and service revenue
74.7
73.9
153.4
154.2
Total atneed revenue
109.4
109.0
232.8
233.6
Recognized preneed property revenue
218.0
222.9
439.6
441.1
Recognized preneed merchandise and service revenue
84.8
87.7
169.8
173.5
Total recognized preneed revenue
302.8
310.6
609.4
614.6
Core revenue
412.2
419.6
842.2
848.2
Other cemetery revenue
29.8
36.2
63.1
66.2
Total revenue
$       442.0
$       455.8
$       905.3
$       914.4
Gross profit
$       150.0
$       161.5
$       330.9
$       349.6
Gross profit percentage
33.9 %
35.4 %
36.6 %
38.2 %
Comparable Funeral Results
The table below details comparable funeral results of operations ("same store") for the three months ended June 30, 2022 and 2021. We consider comparable funeral operations to be those businesses owned for the entire period beginning January 1, 2021 and ending June 30, 2022.
(Dollars in millions, except average revenue per service and average revenue per contract sold)
Three months ended June 30,
2022
2021
Var
%
Comparable funeral revenue:
Atneed revenue ⁽¹⁾
$  279.6
$  281.3
$    (1.7)
(0.6) %
Matured preneed revenue ⁽²⁾
164.0
158.9
5.1
3.2 %
Core revenue ⁽³⁾
443.6
440.2
3.4
0.8 %
Non-funeral home revenue ⁽⁴⁾
17.6
16.9
0.7
4.1 %
Recognized preneed revenue ⁽⁵⁾
42.2
33.1
9.1
27.5 %
Other revenue ⁽⁶⁾
36.3
39.8
(3.5)
(8.8) %
Total comparable revenue
$  539.7
$  530.0
$      9.7
1.8 %
Comparable gross profit
$  116.5
$  113.0
$      3.5
3.1 %
Comparable gross profit percentage
21.6 %
21.3 %
0.3 %
Comparable funeral services performed:
Atneed
46,721
48,439
(1,718)
(3.5) %
Matured preneed
25,163
24,907
256
1.0 %
Total core
71,884
73,346
(1,462)
(2.0) %
Non-funeral home
12,637
11,950
687
5.7 %
Total comparable funeral services performed
84,521
85,296
(775)
(0.9) %
Comparable core cremation rate
54.5 %
52.8 %
1.7 %
Total comparable cremation rate ⁽⁷⁾
61.2 %
59.2 %
2.0 %
Comparable funeral average revenue per service:
Atneed
$  5,984
$  5,807
$     177
3.0 %
Matured preneed
6,518
6,380
138
2.2 %
Total core
6,171
6,002
169
2.8 %
Non-funeral home
1,393
1,414
(21)
(1.5) %
Total comparable average revenue per service
$  5,457
$  5,359
$       98
1.8 %
Comparable funeral preneed sales production:
Total preneed sales
$  299.9
$  292.6
$      7.3
2.5 %
Core contracts sold
36,470
38,995
(2,525)
(6.5) %
Non-funeral home contracts sold
23,593
20,239
3,354
16.6 %
Core average revenue per contract sold
$  6,322
$  6,017
$     305
5.1 %
Non-funeral home average revenue per contract sold
$  2,940
$  2,862
$       78
2.7 %
(1)
Atneed revenue represents merchandise and services sold and delivered or performed once death has occurred.
(2)
Matured preneed revenue represents merchandise and services sold on a preneed contract through our core funeral homes, which have been delivered or performed as well as the related merchandise and service trust fund income.
(3)
Core revenue represents the sum of merchandise and services sold on an atneed contract or preneed contract, which were delivered or performed once death has occurred through our core funeral homes.
(4)
Non-funeral home revenue represents services sold on a preneed or atneed contract through one of our non-funeral home sales channels (e.g. SCI Direct) and performed once death has occurred.
(5)
Recognized preneed revenue represents travel protection, net and merchandise sold on a preneed contract and delivered before death has occurred.
(6)
Other revenue primarily comprises general agency revenue, which is commissions we receive from third-party insurance companies for life insurance policies sold to preneed customers for the purpose of funding preneed arrangements.
(7)
Total comparable cremation rate includes the impact of cremation services through our non-funeral sales channel (e.g. SCI Direct).
Comparable Cemetery Results
The table below details comparable cemetery results of operations ("same store") for the three months ended June 30, 2022 and 2021. We consider comparable cemetery operations to be those businesses owned for the entire period beginning January 1, 2021 and ending June 30, 2022.
(Dollars in millions)
Three months ended June 30,
2022
2021
Var
%
Comparable cemetery revenue:
Atneed property revenue
$    34.8
$    35.1
$    (0.3)
(0.9) %
Atneed merchandise and service revenue
74.4
73.9
0.5
0.7 %
Total atneed revenue ⁽¹⁾
109.2
109.0
0.2
0.2 %
Recognized preneed property revenue
213.8
222.9
(9.1)
(4.1) %
Recognized preneed merchandise and service revenue
84.8
87.6
(2.8)
(3.2) %
Total recognized preneed revenue ⁽²⁾
298.6
310.5
(11.9)
(3.8) %
   Core revenue ⁽³⁾
407.8
419.5
(11.7)
(2.8) %
Other revenue ⁽⁴⁾
29.7
36.2
(6.5)
(18.0) %
Total comparable revenue
$  437.5
$  455.7
$  (18.2)
(4.0) %
Comparable gross profit
$  147.4
$  161.5
$  (14.1)
(8.7) %
Comparable gross profit percentage
33.7 %
35.4 %
(1.7) %
Comparable cemetery preneed and atneed sales production:
Property
$  262.9
$  270.7
$    (7.8)
(2.9) %
Merchandise and services
197.0
205.1
(8.1)
(3.9) %
Discounts and other
(4.8)
(4.0)
(0.8)
(20.0) %
Preneed and atneed sales production
$  455.1
$  471.8
$  (16.7)
(3.5) %
 Recognition rate ⁽⁵⁾
89.6 %
88.9 %
(1)
Atneed revenue represents property, merchandise, and services sold and delivered or performed once death has occurred.
(2)
Recognized preneed revenue represents property, merchandise, and services sold on a preneed contract, which were delivered or performed as well as the related merchandise and service trust fund income.
(3)
Core revenue represents the sum of property, merchandise, and services that have been delivered or performed as well as the related merchandise and service trust fund income.
(4)
Other revenue is primarily related to endowment care trust fund income, royalty income, and interest and finance charges earned from customer receivables on preneed installment contracts.
(5)
Represents the ratio of current period core revenue stated as a percentage of current period preneed and atneed sales production.
Other Financial Results  
Cash Flow and Capital Spending
(Dollars in millions)
Three months ended June 30,
Six months ended June 30,
2022
2021
2022
2021
Net cash provided by operating activities
$        140.7
$        192.2
$        472.9
$        489.8
Cash taxes included in net cash provided by operating activities
$          93.8
$          88.7
$          97.6
$        102.0
Net cash provided by operating activities declined $51.5 million to $140.7 million in the second quarter of 2022 compared to $192.2 million in the second quarter of 2021. This expected decrease in operating cash flow is primarily due to $18.8 million in lower operating income excluding the impact from divestitures, $14.7 million in higher cash interest and taxes combined with increased working capital uses.
A summary of our capital expenditures is set forth below:
 (Dollars in millions)
Three months ended June 30,
Six months ended June 30,
2022
2021
2022
2021
Capital improvements at existing operating locations
$          53.4
$          36.1
$          90.8
$          60.2
Development of cemetery property
30.9
15.1
41.5
24.6
Capital improvements at existing operating locations and
cemetery development expenditures
84.3
51.2
132.3
84.8
Growth capital expenditures/construction of new funeral
service locations
11.4
9.7
20.1
18.4
Total capital expenditures
$          95.7
$          60.9
$        152.4
$        103.2
Total capital expenditures increased in the current quarter by $34.8 million, primarily due to an increase in capital improvements at existing operating locations and the development of cemetery property. The growth in capital spend at existing operation locations is primarily due to increased investments in technology and related infrastructure projects at our funeral and cemetery locations. We also increased spend on cemetery property development as we replenish inventory to meet consumer demand compared to the prior year when construction was impacted by certain weather and COVID-19 related delays.
Trust Fund Returns
Total trust fund returns include realized and unrealized gains and losses and dividends and are shown gross without netting of certain fees. A summary of our consolidated trust fund returns as of June 30, 2022 is set forth below:
Three Months
Six  Months
Preneed funeral
(11.0) %
(14.8) %
Preneed cemetery
(11.5) %
(15.1) %
Cemetery perpetual care
(10.2) %
(13.8) %
Combined trust funds
(10.9) %
(14.6) %
Non-GAAP Financial Measures
Earnings excluding special items and diluted earnings per share excluding special items shown above are non-GAAP financial measures. We believe these non-GAAP financial measures provide a consistent basis for comparison between quarters and years, and better reflect the performance of our core operations, as they are not influenced by certain income or expense items not affecting operations. We also believe these measures help facilitate comparisons to our competitors’ operating results.
Set forth below is a reconciliation of our reported net income attributable to common stockholders to earnings excluding special items and our GAAP diluted earnings per share to diluted earnings per share excluding special items. We do not intend for this information to be considered in isolation or as a substitute for other measures of performance prepared in accordance with GAAP.
(Dollars in millions, except diluted EPS)
Three months ended June 30,
2022
2021
Net
Income
Diluted
EPS
Net
Income
Diluted
EPS
Net income attributable to common stockholders, as reported
$     132.7
$       0.82
$     157.7
$       0.92
Pre-tax reconciling items:
Gains on divestitures and impairment charges, net
(0.3)
—
(6.2)
(0.04)
Loss on early extinguishment of debt, net
1.2
0.01
5.2
0.04
Foreign currency exchange loss
1.5
0.01
—
—
Tax reconciling items:
Tax effect from special items above
(0.5)
—
0.6
—
Change in uncertain tax reserves and other
0.5
—
0.1
—
Earnings excluding special items and diluted earnings per share
excluding special items
$     135.1
$       0.84
$     157.4
$       0.92
Diluted weighted average shares outstanding
161.3
170.9
(Dollars in millions, except diluted EPS)
Six months ended June 30,
2022
2021
Net
Income
Diluted
EPS
Net
Income
Diluted
EPS
Net income attributable to common stockholders, as reported
$     352.2
$       2.17
$     386.6
$       2.25
Pre-tax reconciling items:
Gains on divestitures and impairment charges, net
(0.8)
(0.01)
(7.4)
(0.04)
Losses on early extinguishment of debt, net
1.2
0.01
5.2
0.04
Foreign currency exchange loss
1.5
0.01
—
—
Tax reconciling items:
Tax effect from special items above
(0.3)
—
0.8
—
Change in uncertain tax reserves and other
0.9
—
0.1
—
Earnings excluding special items and diluted earnings per share
excluding special items
$     354.7
$       2.18
$     385.3
$       2.25
Diluted weighted average shares outstanding
162.6
171.6
SOURCE Service Corporation International
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