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, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 292,535 $ 346,631
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (1,034) (840)
Depreciation, depletion and amortization 10,881 12,223
Share-based compensation 8,112 5,616
Changes in operating assets and liabilities:    
Operating assets, excluding income taxes (19,554) (45,065)
Operating liabilities, excluding income taxes 9,995 16,901
Income taxes payable 1,114 (20,821)
Prepaid income taxes 4,809 0
Cash provided by operating activities 306,858 314,645
Cash flows from investing activities:    
Acquisition of intangible assets (21,403) 0
Acquisition of real estate (20,320) (12)
Acquisition of royalty interests (3,566) (1,662)
Purchase of fixed assets (10,630) (13,023)
Proceeds from sale of fixed assets 5 106
Cash used in investing activities (55,914) (14,591)
Cash flows from financing activities:    
Dividends paid (74,979) (224,130)
Repurchases of common stock (32,325) (57,578)
Shares exchanged for tax withholdings (1,284) 0
Cash used in financing activities (108,588) (281,708)
Net increase in cash, cash equivalents and restricted cash 142,356 18,346
Cash, cash equivalents and restricted cash, beginning of period 517,182 428,242
Cash, cash equivalents and restricted cash, end of period 659,538 446,588
Supplemental disclosure of cash flow information:    
Income taxes paid 74,984 115,609
Supplemental non-cash investing and financing information:    
Nonmonetary exchange of assets 0 4,174
Increase in accounts payable related to capital expenditures (243) (868)
Share repurchases and associated excise taxes not settled at the end of the period 481 1,090
Operating lease right-of-use assets $ 0 $ 1,364