Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 335,600 $ 292,535
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 13,695 10,881
Share-based compensation 8,989 8,112
Deferred taxes 2,163 (1,034)
Changes in operating assets and liabilities:    
Operating assets, excluding income taxes 5,806 (19,554)
Operating liabilities, excluding income taxes 4,423 9,995
Income taxes payable (2,578) 1,114
Prepaid income taxes (4,002) 4,809
Cash provided by operating activities 364,096 306,858
Cash flows from investing activities:    
Acquisition of royalty interests, net of post-close adjustments (120,334) (3,566)
Acquisition of a business (45,000) 0
Deposit for acquisition (42,952) 0
Acquisition of intangible assets 0 (21,403)
Acquisition of real estate (1,026) (20,320)
Purchase of fixed assets (16,451) (10,630)
Proceeds from sale of fixed assets 0 5
Cash used in investing activities (225,763) (55,914)
Cash flows from financing activities:    
Dividends paid (310,550) (74,979)
Settlement of common stock repurchases (22,795) (32,325)
Shares exchanged for tax withholdings (1,623) (1,284)
Cash used in financing activities (334,968) (108,588)
Net increase in cash, cash equivalents and restricted cash (196,635) 142,356
Cash, cash equivalents and restricted cash, beginning of period 730,549 517,182
Cash, cash equivalents and restricted cash, end of period 533,914 659,538
Supplemental disclosure of cash flow information:    
Income taxes paid 96,648 74,984
Supplemental non-cash investing and financing information:    
Increase in accounts payable related to capital expenditures $ 5,543 $ (243)