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, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 57,401 $ 139,998
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (55) 21,000
Depreciation, depletion and amortization 3,335 1,204
Changes in operating assets and liabilities:    
Operating assets, excluding income taxes (5,377) (19,331)
Prepaid income taxes 0 9,398
Operating liabilities, excluding income taxes 3,909 4,579
Income taxes payable 9,426 5,153
Cash provided by operating activities 68,639 162,001
Cash flows from investing activities:    
Proceeds from sale of fixed assets 0 30
Acquisition of land (3,890) (47,189)
Acquisition of royalty interests (16,936) (3,418)
Purchase of fixed assets (3,617) (9,247)
Cash used in investing activities (24,443) (59,824)
Cash flows from financing activities:    
Purchase of Sub-share Certificates in Certificates of Proprietary Interest 0 (4,353)
Dividends paid (124,098) (46,546)
Cash used in financing activities (124,098) (50,899)
Net (decrease) increase in cash, cash equivalents and restricted cash (79,902) 51,278
Cash, cash equivalents and restricted cash, beginning of period 303,645 123,446
Cash, cash equivalents, and restricted cash, end of period 223,743 174,724
Supplemental disclosure of cash flow information:    
Income taxes paid 4,600 0
Supplemental non-cash investing information:    
Operating lease right-of-use assets $ 0 $ 3,712