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Service Corporation International Announces First Quarter 2009 Financial Results
Date:5/6/2009

March 31, ------------------- 2009 2008 ------- -------- Cash flows from operating activities: Net income $34,380 $41,519 Adjustments to reconcile net income to net cash provided by operating activities: Income from discontinued operations, net of tax - (15) Gain on early extinguishment of debt (1,610) - Depreciation and amortization 29,115 27,077 Amortization of intangible assets 5,484 6,124 Amortization of cemetery property 5,911 7,385 Amortization of loan costs 898 995 Provision for doubtful accounts 3,091 1,948 Provision for deferred income taxes 18,577 19,231 (Gain) loss on divestitures and impairment charges, net (7,230) 12,046 Share-based compensation 2,408 2,197 Excess tax benefits from share-based awards - (1,324) Change in assets and liabilities, net of effects from acquisitions and divestitures: Decrease in receivables 12,269 581 Decrease (increase) in other assets 5,083 (7,719) Increase (decrease) in payables and other liabilities 21,954 (80,877) Effect of preneed funeral production and maturities: Decrease in preneed funeral receivables and trust investments 4,558 10,760 (Decr
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