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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Reconciliation of net income to cash provided by operating activities:    
Net income $ 155,962 $ 45,054
Add (deduct):    
Depreciation and amortization 13,249 8,292
Provision for bad debt 846 106
Net realized and unrealized (gains) losses (14,929) 6,027
Amortization of net premium on debt securities investments 1,904 2,253
Payments for title losses less than provisions 26,222 1,236
Adjustments for insurance recoveries of title losses 0 228
(Increase) decrease in receivables – net (22,366) 8,792
Increase in other assets – net (3,327) (3,743)
Decrease in accounts payable and other liabilities – net (15,390) (22,817)
Change in net deferred income taxes 4,122 2,277
Net income from equity method investments (3,412) (1,356)
Dividends received from equity method investments 1,739 1,549
Stock-based compensation expense 5,879 2,449
Other – net (47) (237)
Cash provided by operating activities 150,452 50,110
Investing activities:    
Proceeds from sales of investments in securities 14,744 15,499
Proceeds from matured investments in debt securities 51,034 33,096
Purchases of investments in securities (89,198) (50,856)
Net sales of short-term investments 2,747 2,763
Purchases of property and equipment, and real estate (16,430) (6,796)
Proceeds from sale of buildings 10,583 0
Cash paid for acquisition of businesses (131,906) (33,417)
Cash paid for acquisition of equity method investment (16,080) 0
Other – net 855 1,278
Cash used by investing activities (173,651) (38,433)
Financing activities:    
Proceeds from notes payable 181,755 404
Payments on notes payable (157,662) (9,334)
Distributions to noncontrolling interests (7,253) (5,957)
Repurchases of Common Stock (2,002) (468)
Proceeds from stock option exercises 181 0
Cash dividends paid (17,688) (14,198)
Payment of contingent consideration related to an acquisition (75) 0
Purchase of remaining interest in consolidated subsidiaries (5,616) 0
Other - net (777) 0
Cash used by financing activities (9,137) (29,553)
Effects of changes in foreign currency exchange rates 195 (1,927)
Change in cash and cash equivalents (32,141) (19,803)
Cash and cash equivalents at beginning of period 432,683 330,609
Cash and cash equivalents at end of period $ 400,542 $ 310,806