XML 19 R5.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Reconciliation of net income to cash provided by operating activities:      
Net income $ 4,043 $ 38,309 $ 72,584
Add (deduct):      
Depreciation and amortization 30,298 24,226 17,920
Provision for bad debt 3,023 1,371 2,170
Investment and other (gains) losses – net 1,369 (6,744) 1,066
Payments for title losses in excess of provisions (17,154) (18,803) (11,280)
Insurance recoveries of title losses 213 17,181 1,914
Impairment of goodwill 35,749 0 0
Decrease (increase) in receivables – net 13,267 9,397 (5,796)
Decrease (increase) in other assets – net 3,073 (1,878) (1,467)
Increase (decrease) in payables and accrued liabilities – net 2,088 (6,854) (8,100)
Decrease (increase) in net deferred income taxes (5,800) 3,176 16,260
Net income from equity investees (3,579) (3,442) (4,137)
Dividends received from equity investees 3,811 3,582 4,766
Stock based compensation expense 4,445 4,020 1,006
Other – net 5,668 448 281
Cash provided by operating activities 80,514 63,989 87,187
Investing activities:      
Proceeds from investments available-for-sale sold 69,280 58,132 81,999
Proceeds from investments available-for-sale matured 42,195 48,427 11,849
Purchases of investments available-for-sale (147,697) (147,372) (148,512)
Net (purchases) sales of short-term investments (14,664) 13,294 (1,311)
Purchases of property and equipment, title plants and real estate – net (19,658) (19,537) (17,282)
Proceeds from the sale of land, buildings, and furniture and equipment 4,214 1,415 2,168
Increases in notes receivable (915) (307) (1,002)
Collections on notes receivable 1,302 386 2,666
Cash paid for acquisition of subsidiaries and other – net (3,958) (39,990) (14,921)
Proceeds from the sale of equity investees and other assets 0 15 3,090
Proceeds from the sale of real estate 0 2,105 0
Other – net 1,110 4,875 2,893
Cash used by investing activities (68,791) (78,557) (78,363)
Financing activities:      
Proceeds from notes payable 52,651 120,273 11,146
Payments on notes payable (22,494) (60,838) (12,199)
Purchase of remaining interest of consolidated subsidiaries (209) (20) (5,051)
Cash dividends paid (18,010) (2,334) (2,159)
Subsidiary dividends paid to noncontrolling interests (9,706) (8,986) (9,239)
Repurchases of Common Stock (27,950) (22,048) 0
Cash payments for settlement of debt 0 0 (742)
Other—net 168 (21) 48
Cash (used) provided by financing activities (25,550) 26,026 (18,196)
Effects of changes in foreign currency exchange rates (7,664) (5,189) (4,877)
(Decrease) increase in cash and cash equivalents (21,491) 6,269 (14,249)
Cash and cash equivalents at beginning of year 200,558 194,289 208,538
Cash and cash equivalents at end of year 179,067 200,558 194,289
Supplemental information:      
Retirement of Convertible Senior Notes with issuance of Common Stock 0 27,190 37,810
Changes in financial statement amounts due to purchase of subsidiaries:      
Goodwill acquired 7,220 21,440 10,883
Receivables and other assets acquired 38 12,620 6,918
Intangible assets 0 21,110 8,519
Liabilities acquired (3,300) (15,180) (11,399)
Cash paid for acquisitions of subsidiaries and other – net 3,958 39,990 14,921
Assets purchased through capital lease obligations 1,062 2,003 4,769
Income taxes – net paid (refunded) 14,982 (106) 18,032
Interest paid $ 1,873 $ 2,616 $ 2,202