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
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 131,258 $ 249,606
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (86) 20,093
Depreciation, depletion and amortization 10,773 5,286
Land sales revenue recognized on land exchanges (1,415) 0
Changes in operating assets and liabilities:    
Operating assets, excluding income taxes 24,878 (18,278)
Prepaid income taxes 0 9,398
Operating liabilities, excluding income taxes (1,404) 15,361
Income taxes payable (2,555) 2,757
Cash provided by operating activities 161,449 284,223
Cash flows from investing activities:    
Proceeds from sale of fixed assets 0 117
Acquisition of land (3,966) (74,410)
Acquisition of royalty interests (16,945) (5,017)
Purchase of fixed assets (4,326) (27,579)
Cash used in investing activities (25,237) (106,889)
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 increase in cash, cash equivalents and restricted cash 12,114 126,435
Cash, cash equivalents and restricted cash, beginning of period 303,645 123,446
Cash, cash equivalents, and restricted cash, end of period 315,759 249,881
Supplemental disclosure of cash flow information:    
Income taxes paid 35,719 31,337
Supplemental non-cash investing information:    
Operating lease right-of-use assets 0 3,712
Land exchange $ 1,415 $ 0