Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 84,984 $ 189,584
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (700) 15,275
Depreciation, depletion and amortization 7,013 2,655
Land sale revenue recognized on exchanges and sales with basis (123) 0
Changes in operating assets and liabilities:    
Operating assets, excluding income taxes 14,310 (21,518)
Prepaid income taxes 0 9,398
Operating liabilities, excluding income taxes (1,365) 18,855
Income taxes payable (3,286) 5,722
Cash provided by operating activities 100,833 219,971
Cash flows from investing activities:    
Proceeds from sale of fixed assets 0 30
Proceeds from land sales with basis 2,814 0
Acquisition of land (3,912) (74,410)
Acquisition of royalty interests (16,945) (5,017)
Purchase of fixed assets (3,973) (22,600)
Cash used in investing activities (22,016) (101,997)
Cash flows from financing activities:    
Purchase of Sub-share Certificates in Certificates of Proprietary Interest 0 (4,353)
Dividends paid (124,098) (46,546)
Cash used in financing activities (124,098) (50,899)
Net (decrease) increase in cash, cash equivalents and restricted cash (45,281) 67,075
Cash, cash equivalents and restricted cash, beginning of period 303,645 123,446
Cash, cash equivalents, and restricted cash, end of period 258,364 190,521
Supplemental disclosure of cash flow information:    
Income taxes paid 25,300 18,451
Supplemental non-cash investing information:    
Operating lease right-of-use assets 0 3,712
Land exchange $ 15 $ 0