Service Corporation International (SCI) is North America's leading provider of deathcare products and services. We have more than 22,000 dedicated employees who provide the finest funeral, cremation, and cemetery services to hundreds of thousands of families each year. Operating from a network of more than 2,000 funeral homes and cemeteries, the people of SCI assist families with compassion and guidance at difficult times, helping them celebrate the significance of lives that have been lived, and preserving memories that transcend generations, with dignity and honor.
Strengthening and Modernization
As it refined its network and introduced name brand funeral services in the early years of the new century, the Company also made significant improvements to its financial condition and infrastructure. Between 2002 and 2006, SCI reduced its net debt(total debt minus cash) by more than $1.0 billion, increased operating cash flow, and simplified its field management organization to enhance efficiency, performance, and accountability. It also improved business and sales processes, tightened internal controls, strengthened corporate governance standards, and established the finest training and development system in its industry. For its shareholders, SCI returned value through more than $335 million in share repurchases, and it resumed payment of a regular quarterly dividend in early 2005, the first since 1999. By the beginning of 2006, SCI was a noticeably different organization than that of five years earlier. The Company was operating at a profit, with robust cash flows and resources and the most efficient infrastructure in its history. It was from this new position of strength that SCI took a giant step toward future success by acquiring its biggest competitor, Alderwoods Group, in November 2006. As SCI looks to the future, the addition of more than 600 funeral homes and cemeteries in the Alderwoods network provide an expanded geographic footprint that will enable SCI to serve families in 46 states, eight Canadian provinces, the District of Columbia and Puerto Rico.
A Company for its Time
With solid financials, exclusive products and customer benefits, favorable demographics, and “best in class” policies, training and professional standards, SCI is in an excellent position to provide North America’s finest death care services for generations to come.