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
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 190,935 $ 131,258
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (632) (86)
Depreciation, depletion and amortization 11,562 10,773
Land sales revenue recognized on land exchanges 0 (1,415)
Changes in operating assets and liabilities:    
Operating assets, excluding income taxes (35,377) 25,043
Operating liabilities, excluding income taxes 4,961 (1,159)
Income taxes payable 3,063 (2,555)
Cash provided by operating activities 174,512 161,859
Cash flows from investing activities:    
Proceeds from sales of fixed assets 1,079 0
Acquisition of real estate (10) (3,966)
Acquisition of royalty interests 0 (16,945)
Purchase of fixed assets (11,058) (4,736)
Cash used in investing activities (9,989) (25,647)
Cash flows from financing activities:    
Repurchases of common stock (10,816) 0
Dividends paid (63,970) (124,098)
Cash used in financing activities (74,786) (124,098)
Net increase in cash, cash equivalents and restricted cash 89,737 12,114
Cash, cash equivalents and restricted cash, beginning of period 283,024 303,645
Cash, cash equivalents, and restricted cash, end of period 372,761 315,759
Supplemental disclosure of cash flow information:    
Income taxes paid 44,113 35,719
Share repurchases not yet settled 377 0
Fixed asset additions in accounts payable 441 245
Issuance of common stock 78 0
Land exchange $ 0 $ 1,415