XML 17 R5.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Reconciliation of net (loss) income to cash (used) provided by operating activities:    
Net (loss) income $ (5,218) $ 61,912
Add (deduct):    
Depreciation and amortization 14,906 13,748
Adjustments for bad debt provisions 590 14
Net realized and unrealized losses (gains) 1,778 (4,085)
Amortization of net premium on debt securities investments 230 690
Payments for title losses (higher) less than provisions (15,797) 8,959
Adjustments for insurance recoveries of title losses 0 220
(Increase) decrease in receivables – net (13,724) 6,226
Increase in other assets – net (4,506) (5,046)
Decrease in accounts payable and other liabilities – net (34,656) (50,808)
Change in net deferred income taxes 1,724 265
Net income from equity method investments (28) (736)
Dividends received from equity method investments 680 1,167
Stock-based compensation expense 2,759 2,239
Other – net 200 110
Cash (used) provided by operating activities (51,062) 34,875
Investing activities:    
Proceeds from sales of investments in securities 26,772 17,650
Proceeds from matured investments in debt securities 25,338 15,923
Purchases of investments in securities (23,965) (66,882)
Net purchases of short-term investments (2,541) (60)
Purchases of property and equipment, and real estate (8,894) (12,291)
Proceeds from sale of property and equipment and other assets 49 829
Cash paid for acquisition of businesses (21,500) (17,904)
Other – net (71) (2,481)
Cash used by investing activities (4,812) (65,216)
Financing activities:    
Proceeds from notes payable 3,521 140
Payments on notes payable (5,589) (37,819)
Distributions to noncontrolling interests (3,775) (4,568)
Repurchases of Common Stock (1,271) (2,462)
Proceeds from stock option and employee stock purchase plan exercises 1,991 2,492
Cash dividends paid (12,260) (10,119)
Payment of contingent consideration related to acquisitions 0 (6,262)
Other - net 0 36
Cash used by financing activities (17,383) (58,562)
Effects of changes in foreign currency exchange rates (295) (367)
Change in cash and cash equivalents (73,552) (89,270)
Cash and cash equivalents at beginning of period 248,367 485,919
Cash and cash equivalents at end of period $ 174,815 $ 396,649