Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 96,294 $ 39,609
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes 0 (259)
Depreciation and amortization 813 104
Gain on disposal of fixed assets 0 (4)
Changes in operating assets and liabilities:    
Accrued receivables and other assets (18,109) (5,776)
Prepaid income taxes 1,202 0
Accounts payable, accrued expenses and other liabilities 6,958 2,039
Income taxes payable 2,071 (751)
Cash provided by operating activities 89,229 34,962
Cash flows from investing activities:    
Proceeds from sale of fixed assets 0 28
Acquisition of land (2,663) 0
Purchase of fixed assets (31,564) (3,610)
Cash used in investing activities (34,227) (3,582)
Cash flows from financing activities:    
Purchase of Sub-share Certificates in Certificates of Proprietary Interest (17,035) (20,014)
Dividends paid (31,652) (10,681)
Cash used in financing activities (48,687) (30,695)
Net increase in cash and cash equivalents 6,315 685
Cash and cash equivalents, beginning of period 79,580 49,418
Cash and cash equivalents, end of period 85,895 50,103
Supplemental disclosure of cash flow information:    
Income taxes paid $ 21,951 $ 20,702