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
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 114,417 $ 86,568
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 3,840 3,404
Share-based compensation 3,354 2,473
Deferred taxes (331) (306)
Changes in operating assets and liabilities:    
Operating assets, excluding income taxes 5,602 (2,076)
Operating liabilities, excluding income taxes (11,446) 640
Income taxes payable 31,808 19,263
Prepaid income taxes 0 4,809
Cash provided by operating activities 147,244 114,775
Cash flows from investing activities:    
Purchase of fixed assets (2,238) (1,749)
Proceeds from sale of fixed assets 0 5
Cash used in investing activities (2,238) (1,744)
Cash flows from financing activities:    
Dividends paid (26,907) (25,061)
Settlement of common stock repurchases (10,341) (6,837)
Shares exchanged for tax withholdings (1,207) (939)
Cash used in financing activities (38,455) (32,837)
Net increase in cash, cash equivalents and restricted cash 106,551 80,194
Cash, cash equivalents and restricted cash, beginning of period 730,549 517,182
Cash, cash equivalents and restricted cash, end of period 837,100 597,376
Supplemental disclosure of cash flow information:    
Income taxes paid 0 0
Supplemental non-cash investing and financing information:    
Increase in accounts payable related to capital expenditures $ 3,424 $ 2,024