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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Reconciliation of net income to cash provided by operating activities:    
Net income $ 249,357 $ 105,339
Add (deduct):    
Depreciation and amortization 22,394 13,436
Provision for bad debt 1,871 363
Net realized and unrealized (gains) losses (17,816) 6,035
Amortization of net premium on debt securities investments 2,794 3,280
Payments for title losses less than provisions 39,761 9,615
Adjustments for insurance recoveries of title losses 0 (73)
Increase in receivables – net (20,771) (4,290)
Increase in other assets – net (3,725) (1,702)
Decrease (increase) in accounts payable and other liabilities – net (30,385) 1,301
Change in net deferred income taxes 7,024 3,576
Net income from equity method investments (6,852) (2,385)
Dividends received from equity method investments 5,496 2,499
Stock-based compensation expense 8,494 4,234
Other – net (325) (367)
Cash provided by operating activities 257,317 140,861
Investing activities:    
Proceeds from sales of investments in securities 19,726 25,772
Proceeds from matured investments in debt securities 68,653 46,677
Purchases of investments in securities (111,107) (75,487)
Net sales of short-term investments 2,734 2,431
Purchases of property and equipment, and real estate (26,213) (10,492)
Proceeds from sale of buildings 10,552 0
Cash paid for acquisition of businesses (149,921) (146,518)
Cash paid for acquisition of equity method investment (16,080) 0
Other – net 988 1,524
Cash used by investing activities (200,668) (156,093)
Financing activities:    
Proceeds from notes payable 331,755 2,361
Payments on notes payable (158,031) (11,737)
Distributions to noncontrolling interests (11,683) (9,572)
Issuance of new Common Stock 0 108,961
Repurchases of Common Stock (2,145) (826)
Proceeds from stock option and employee stock purchase plan exercises 2,715 0
Cash dividends paid (26,558) (22,214)
Payment of contingent consideration related to an acquisition (9,489) 0
Purchase of remaining interest in consolidated subsidiaries (5,616) 0
Other - net (777) (311)
Cash used by financing activities 120,171 66,662
Effects of changes in foreign currency exchange rates (1,898) (479)
Change in cash and cash equivalents 174,922 50,951
Cash and cash equivalents at beginning of period 432,683 330,609
Cash and cash equivalents at end of period $ 607,605 $ 381,560