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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Reconciliation of net income to cash provided by operating activities:    
Net income $ 105,339 $ 87,209
Add (deduct):    
Depreciation and amortization 13,436 17,458
Provision for bad debt 363 889
Net realized and unrealized losses (gains) 6,035 (730)
Amortization of net premium on debt securities investments 3,280 3,790
Payments for title losses less than (in excess of) provisions 9,615 (11,266)
Adjustment for insurance recoveries of title losses (73) 175
Increase in receivables – net (4,290) (8,838)
(Increase) decrease in other assets – net (1,702) 2,910
Decrease in accounts payable and other liabilities – net 1,301 6,753
Change in net deferred income taxes 3,576 5,563
Net income from equity investees (2,385) (1,996)
Dividends received from equity investees 2,499 1,964
Stock-based compensation expense 4,234 3,380
Other – net (367) 28
Cash provided by operating activities 140,861 107,289
Investing activities:    
Proceeds from sales of investments in securities 25,772 20,899
Proceeds from matured investments in debt securities 46,677 44,685
Purchases of investments in securities (75,487) (2,187)
Net sales (purchases) of short-term investments 2,431 (193)
Purchases of property and equipment, and real estate – net (10,492) (11,957)
Cash paid for acquisition of businesses (146,518) 0
Other – net 1,524 2,111
Cash (used) provided by investing activities (156,093) 53,358
Financing activities:    
Proceeds from notes payable 2,361 23,514
Payments on notes payable (11,737) (26,179)
Distributions to noncontrolling interests (9,572) (8,578)
Issuance of new Common Stock 108,961 0
Repurchases of Common Stock (826) (481)
Cash dividends paid (22,214) (21,257)
Other - net (311) 25
Cash provided (used) by financing activities 66,662 (32,956)
Effects of changes in foreign currency exchange rates (479) 1,202
Increase in cash and cash equivalents 50,951 128,893
Cash and cash equivalents at beginning of period 330,609 192,067
Cash and cash equivalents at end of period $ 381,560 $ 320,960