XML 57 R5.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Reconciliation of net (loss) income to cash provided by operating activities:    
Net (loss) income $ (1,146) $ 24,179
Add (deduct):    
Depreciation and amortization 22,013 16,070
Provision for bad debt 1,672 749
Investment and other gains – net (1,595) (1,143)
Payments for title losses in excess of provisions (5,049) (24,797)
Insurance recoveries of title losses 763 2,707
Impairment of goodwill and other intangible assets 35,867 0
Decrease in receivables – net 8,634 3,307
Increase in other assets – net (1,446) (2,366)
Decrease in payables and accrued liabilities – net (3,147) (9,198)
(Decrease) increase in net deferred income taxes (453) 4,996
Net income from equity investees (2,904) (2,720)
Dividends received from equity investees 3,111 2,742
Stock based compensation expense 4,626 1,102
Other – net 4,651 (291)
Cash provided by operating activities 65,597 15,337
Investing activities:    
Proceeds from investments available-for-sale sold 60,314 51,068
Proceeds from investments available-for-sale matured 40,270 40,305
Purchases of investments available-for-sale (101,503) (112,724)
Net sales of short-term investments 3,160 1,321
Purchases of property and equipment, title plants and real estate – net (13,373) (15,482)
Cash paid for acquisition of subsidiaries (3,958) (39,359)
Other – net 1,904 4,046
Cash used by investing activities (13,186) (70,825)
Financing activities:    
Payments on notes payable (19,325) (54,437)
Proceeds from notes payable 30,196 112,149
Distributions to noncontrolling interests (6,861) (7,044)
Repurchases of common stock (27,815) (16,287)
Cash dividends paid (11,280) 0
Other – net 23 3
Cash (used) provided by financing activities (35,062) 34,384
Effects of changes in foreign currency exchange rates (6,592) (4,740)
Increase (decrease) in cash and cash equivalents 10,757 (25,844)
Cash and cash equivalents at beginning of period 200,558 194,289
Cash and cash equivalents at end of period 211,315 168,445
Changes in financial statement amounts due to the acquisition of a subsidiary:    
Goodwill acquired 7,220 16,148
Receivables and other assets acquired 38 12,536
Intangible assets acquired 0 21,510
Liabilities assumed (3,300) (10,835)
Cash paid for acquisition of a subsidiary $ 3,958 $ 39,359