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, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 43,791 $ 19,259
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes 0 2,406
Depreciation and amortization 330 19
Gain on disposal of fixed assets 0 (4)
Changes in operating assets and liabilities:    
Accrued receivables and other assets (12,099) (3,758)
Prepaid income taxes 1,202 0
Accounts payable, accrued expenses and other liabilities (172) 846
Income taxes payable 9,622 5,616
Cash provided by operating activities 42,674 24,384
Cash flows from investing activities:    
Proceeds from sale of fixed assets 0 28
Acquisition of land (751) 0
Purchase of fixed assets (11,841) (1,912)
Cash used in investing activities (12,592) (1,884)
Cash flows from financing activities:    
Purchase of Sub-share Certificates in Certificates of Proprietary Interest (6,709) (8,672)
Dividends paid (31,652) (10,682)
Cash used in financing activities (38,361) (19,354)
Net increase in cash and cash equivalents (8,279) 3,146
Cash and cash equivalents, beginning of period 79,580 49,418
Cash and cash equivalents, end of period 71,301 52,564
Supplemental disclosure of cash flow information:    
Income taxes paid $ 0 $ 1,625