Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 107,098 $ 84,984
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (382) (700)
Depreciation, depletion and amortization 7,696 7,013
Land sales revenue recognized on land exchanges 0 (15)
Changes in operating assets and liabilities:    
Operating assets, excluding income taxes (18,126) 17,028
Operating liabilities, excluding income taxes 814 (896)
Income taxes payable (611) (3,286)
Cash provided by operating activities 96,489 104,128
Cash flows from investing activities:    
Acquisition of real estate (10) (3,912)
Acquisition of royalty interests 0 (16,945)
Purchase of fixed assets (4,461) (4,454)
Cash used in investing activities (4,471) (25,311)
Cash flows from financing activities:    
Repurchases of common stock (2,504) 0
Dividends paid (42,658) (124,098)
Cash used in financing activities (45,162) (124,098)
Net increase (decrease) in cash, cash equivalents and restricted cash 46,856 (45,281)
Cash, cash equivalents and restricted cash, beginning of period 283,024 303,645
Cash, cash equivalents, and restricted cash, end of period 329,880 258,364
Supplemental disclosure of cash flow information:    
Income taxes paid 27,613 25,300
Fixed asset additions in accounts payable 451 471
Issuance of common stock 78 0
Land exchange $ 0 $ 15