Eric Tanzberger
Executive VP & CFO at Service Corporation International
So in total, we finished 2024 very strong with adjusted operating cash flow of just over $975,000,000 which is above the high end of our most recent annual guidance range, which again was $940,000,000 to $960,000,000 So continuing on in the fourth quarter, we invested $140,000,000 into our current locations, new growth opportunities, business acquisitions and real estate. We invested $102,000,000 of maintenance capital back into our current businesses with $42,000,000 allocated to valuable cemetery development projects, $43,000,000 out the same amount into our funeral and cemetery locations and $16,000,000 into our digital strategy and other corporate investments. For the full year, we invested a total of $348,000,000 of maintenance CapEx, which was up $23,000,000 from both the prior year and the high end of our guidance range as we dedicated a portion of the strong cash flow during this quarter toward reinvestment into the maintenance of our funeral and cemetery businesses. We also invested about $19,000,000 of growth capital in the quarter towards the purchase of real estate, construction of new funeral homes and the expansion of existing funeral homes and cemeteries. For the full year, this brought the total growth capital spend to just over $100,000,000 which was up about $9,000,000 from 2023 as we identified meaningful opportunities to invest in Greenfield Cemetery and funeral projects.