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(dollars in thousands, except per share amounts.)
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In fiscal year 1999, the Company adopted SFAS No. 131, “Disclosures about Segments of an Enterprise and Related Information.” The accounting policies of the segments are the same as those described in the “Summary of Significant Accounting Policies.” The Company evaluates the performance of its segments and allocates resources to them based on gross profit.
The Company’s operations are product-based and geographically-based. As such, the Company’s primary reportable operating segments presented in the following table are based on products and services and include funeral and cemetery operations.
The Company’s funeral homes offer a complete range of funeral services and products both at the time of need and on a prearranged basis. The Company’s services and products include family consultation, removal and preparation of remains, the use of funeral home facilities for visitation, worship and funeral services, transportation services, flowers and caskets. In addition to traditional funeral services, all of the Company’s funeral homes offer cremation products and services.
The Company’s cemetery operations involve the sale of cemetery property and related merchandise, including lots, lawn crypts, family and community mausoleums, monuments, memorials and burial vaults, along with the sale of burial site openings and closings and inscriptions. Cemetery property and merchandise sales are made both at the time of need and on a prearranged basis.
As of October 31, 2001, the Company conducted both funeral and cemetery operations domestically including the United States and Puerto Rico, and in Southern Europe (France, Spain and Portugal), Canada and Argentina. The Company sold its operations in Mexico, Australia, New Zealand, Belgium and the Netherlands during the fourth quarter of fiscal year 2001. The Company’s remaining foreign operations are held for sale.
The table below presents information about reported segments for fiscal years ended October 31, 2001, 2000 and 1999:
A reconciliation of total segment gross profit to total earnings (loss) before income taxes, extraordinary item and cumulative effect of change in accounting principles for fiscal years ended October 31, 2001, 2000 and 1999, is as follows:
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