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, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 147,056 $ 72,611
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes 0 (337)
Depreciation and amortization 1,519 313
Gain on disposal of fixed assets (2) (4)
Changes in operating assets and liabilities:    
Accrued receivables and other assets (28,704) (17,040)
Prepaid income taxes 1,202 0
Accounts payable, accrued expenses and other liabilities 7,555 5,067
Income taxes payable 2,208 5,249
Cash provided by operating activities 130,834 65,859
Cash flows from investing activities:    
Proceeds from sale of fixed assets 25 28
Acquisition of land (2,663) 0
Purchase of fixed assets (40,006) (7,970)
Cash used in investing activities (42,644) (7,942)
Cash flows from financing activities:    
Purchase of Sub-share Certificates in Certificates of Proprietary Interest (25,501) (27,158)
Dividends paid (31,652) (10,681)
Cash used in financing activities (57,153) (37,839)
Net increase in cash and cash equivalents 31,037 20,078
Cash and cash equivalents, beginning of period 79,580 49,418
Cash and cash equivalents, end of period 110,617 69,496
Supplemental disclosure of cash flow information:    
Income taxes paid $ 34,251 $ 31,102