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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Reconciliation of net income to cash provided by operating activities:      
Net income $ 169,672 $ 90,272 $ 59,022
Add (deduct):      
Depreciation and amortization 19,216 22,526 24,932
Provision for bad debt 649 1,672 519
Net realized and unrealized losses (gains) 1,678 7,240 (53)
Amortization of net premium on debt securities investments 4,261 4,939 6,083
Payments for title losses less than (in excess of) provisions 33,229 (6,585) (11,192)
Adjustments for insurance recoveries of title losses 228 181 1,039
(Increase) decrease in receivables – net (6,598) (2,917) 5,280
(Increase) decrease in other assets – net (5,380) 6,865 4,469
Decrease (increase) in payables and accrued liabilities – net 62,738 31,471 (12,002)
Change in net deferred income taxes (9,747) 8,669 256
Net income from equity investees (3,504) (3,044) (1,940)
Dividends received from equity investees 3,704 2,721 2,551
Stock-based compensation expense 5,751 2,097 4,809
Other – net (91) 252 404
Cash (used) provided by operating activities 275,806 166,359 84,177
Investing activities:      
Proceeds from sales of investments in securities 37,240 50,605 49,442
Proceeds from matured investments in debt securities 58,729 48,716 29,631
Purchases of investments in securities (118,301) (77,489) (43,057)
Net sales (purchases) of short-term investments 3,894 (639) 392
Purchases of property and equipment, net (14,992) (17,075) (10,675)
Proceeds from the sale of land, buildings, property and equipment, and real estate 230 1,349 82
Net cash paid for acquisition of businesses (199,537) 0 (18,739)
Other – net 1,367 1,573 2,303
Cash (used) provided by investing activities (231,370) 7,040 9,379
Financing activities:      
Proceeds from notes payable 16,456 30,464 14,530
Payments on notes payable (25,581) (27,868) (20,118)
Purchase of remaining interest of consolidated subsidiaries 0 0 (1,101)
Cash dividends paid (30,226) (28,345) (28,263)
Distributions to noncontrolling interests (13,944) (11,506) (11,631)
Issuance of Common Stock 108,961 0 0
Repurchases of Common Stock (1,054) (532) (1,175)
Other - net (311) 25 0
Cash provided (used) by financing activities 54,301 (37,762) (47,758)
Effects of changes in foreign currency exchange rates 3,337 2,905 (3,810)
Increase in cash and cash equivalents 102,074 138,542 41,988
Cash and cash equivalents at beginning of year 330,609 192,067 150,079
Cash and cash equivalents at end of year 432,683 330,609 192,067
Net changes in financial statement amounts due to purchase of subsidiaries and other assets:      
Goodwill acquired 182,587 0 17,462
Intangible assets acquired 37,835 0 4,570
Receivables and other assets acquired 13,677 0 1,209
Liabilities recognized (34,562) 0 (4,294)
Net realized gains on the transactions 0 0 (208)
Net cash paid for acquisition of subsidiaries and other assets 199,537 0 18,739
Assets purchased through capital lease obligations 0 0 4,312
Income taxes paid, net 44,756 11,992 12,854
Interest paid $ 2,604 $ 4,241 $ 4,214