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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Reconciliation of net income to cash provided by operating activities:    
Net income $ 57,122 $ 7,374
Add (deduct):    
Depreciation and amortization 6,430 4,231
Provision for bad debt 708 154
Net realized and unrealized (gains) losses (3,274) 11,091
Amortization of net premium on debt securities investments 938 1,144
Payments for title losses less than (in excess of) provisions 12,234 (2,809)
Adjustments for insurance recoveries of title losses (205) 173
(Increase) decrease in receivables – net (3,513) 11,542
Increase in other assets – net (7,869) (3,813)
Decrease in accounts payable and other liabilities – net (20,116) (43,165)
Change in net deferred income taxes 2,007 1,495
Net income from equity method investments (924) (645)
Dividends received from equity method investments 764 1,235
Stock-based compensation expense 3,174 887
Other – net (34) (254)
Cash provided (used) by operating activities 47,442 (11,360)
Investing activities:    
Proceeds from sales of investments in securities 3,051 11,796
Proceeds from matured investments in debt securities 42,836 18,814
Purchases of investments in securities (47,881) (30,703)
Net sales (purchases) of short-term investments 2,648 2,982
Purchases of property and equipment, and real estate – net (5,721) (4,781)
Cash paid for acquisition of businesses (52,575) (1,449)
Cash paid for acquisition of equity method investment (16,080) 0
Other – net 131 38
Cash used by investing activities (73,591) (3,303)
Financing activities:    
Proceeds from notes payable 178,975 204
Payments on notes payable (154,910) (8,223)
Distributions to noncontrolling interests (3,844) (3,326)
Repurchases of Common Stock (1,935) (393)
Cash dividends paid (8,840) (7,099)
Distributions to noncontrolling interests (2,570) 0
Other - net (777) 0
Cash provided (used) by financing activities 6,160 (18,837)
Effects of changes in foreign currency exchange rates 69 (3,510)
Change in cash and cash equivalents (19,920) (37,010)
Cash and cash equivalents at beginning of period 432,683 330,609
Cash and cash equivalents at end of period 412,763 293,599
Proceeds from Stock Options Exercised $ 61 $ 0