Stewart information services corp (STC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Reconciliation of net income (loss) to cash used by operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

90,272

59,022

60,146

68,421

4,043

38,309

72,584

118,977

8,678

-5,150

-42,431

Add (deduct):
Depreciation, Depletion and Amortization, Nonproduction

22,526

24,932

25,878

30,044

30,298

24,226

17,920

17,783

19,542

21,422

28,064

Provision for bad debt

1,672

519

207

3,349

3,396

1,977

2,170

3,201

1,318

4,186

6,526

Net realized and unrealized losses (gains)

-7,240

53

2,207

-666

-1,369

6,744

-1,066

7,578

2,302

21,782

7,366

Amortization of net premium on debt securities investments

-4,939

-6,083

-6,806

-7,215

-6,540

-

-

-

-

-

-

Payments for title losses in excess of provisions

-6,585

-11,192

13,694

-1,056

-17,154

-18,803

-11,280

15,248

2,383

-14,694

31,276

Adjustment for insurance recoveries of title losses

181

1,039

-654

-173

213

17,181

1,914

706

5,082

8,260

2,174

Impairment of goodwill

-

-

-

-

35,749

0

0

-

-

-

-

Decrease (increase) in receivables – net

2,917

-5,280

7,667

-7,759

-12,894

-8,791

5,796

16,133

6,748

-46,642

24,833

Increase in other assets – net

-6,865

-4,469

4,512

-391

-3,073

1,878

1,467

2,779

189

-308

-540

Decrease in accounts payable and other liabilities – net

31,471

-12,002

1,933

-3,888

2,088

-6,854

-8,100

29,278

-5,602

-11,871

-13,203

Change in net deferred income taxes

-8,669

-256

-8,328

-7,446

5,800

-3,176

-16,260

39,780

1,212

-10,544

1,230

Net income from equity investees

3,044

1,940

2,163

2,834

3,579

3,442

4,137

4,253

1,710

2,427

3,134

Dividends received from equity investees

2,721

2,551

2,493

2,640

3,811

3,582

4,766

3,426

2,524

2,996

2,916

Stock-based compensation expense

2,097

4,809

5,303

2,982

4,445

4,020

1,006

2,132

-

-

-

Other – net

-252

-404

-483

0

872

-448

-281

-294

-1,645

-2,760

-3,385

Cash used by operating activities

166,359

84,177

108,068

122,962

80,514

63,989

87,187

120,522

23,409

41,194

-16,952

Investing activities:
Proceeds from Sale of Debt Securities, Available-for-sale

50,605

49,442

76,942

81,091

69,280

58,132

81,999

-

-

-

-

Proceeds from matured investments in debt securities

48,716

29,631

33,912

27,125

42,195

48,427

11,849

-

-

-

-

Purchases of investments in securities

77,489

43,057

179,732

166,444

147,697

147,372

148,512

207,690

336,118

303,517

369,366

Proceeds from investments available-for-sale matured and sold

-

-

-

-

-

-

-

181,938

339,697

328,460

477,089

Net sales (purchases) of short-term investments

639

-392

1,362

-17,468

14,664

-13,294

1,311

-

-

-

-

Proceeds from redemptions of investments - pledged

-

-

-

-

-

-

-

-

-

217,225

24,300

Purchases of property and equipment, and real estate – net

17,075

10,675

16,396

18,155

19,658

19,537

17,282

16,752

17,704

16,339

11,032

Proceeds from the sale of land, buildings, property and equipment, and real estate

1,349

82

502

692

4,214

3,520

2,168

4,713

-

6,425

-

Increases in notes receivable

-

-

-

-

-

-

1,002

463

291

1,109

1,214

Collections on notes receivable

-

-

-

-

-

-

2,666

959

721

1,001

654

Change in cash and cash equivalents due to sale and deconsolidation of subsidiaries

-

-

-

-

-

-

-

1,566

-

-1,873

-

Cash paid for acquisition of businesses

0

18,739

17,359

-

3,958

39,990

14,921

1,183

8,262

-

-

Net cash (paid for acquisition) received from disposal of subsidiaries and other assets

-

-

-

1,268

-

-

-

-

-

-

-

Proceeds from the sale of equity investees and other assets

-

-

-

-

-

-

3,090

0

-

-

-

Proceeds from the sale of real estate

-

-

-

-

-

-

0

0

-

-

-

Cash paid for loan guarantee obligation

-

-

-

-

-

-

-

-

4,318

-

-

Other – net

1,573

2,303

458

181

1,497

4,969

2,893

384

-2,944

-

-

Cash received (paid) for other assets, cost-basis investments, equity investees and other - net

-

-

-

-

-

-

-

-

-

4,887

9,759

Cash (used) provided by investing activities

7,040

9,379

-103,035

-56,774

-68,791

-78,557

-78,363

-36,528

-29,219

235,160

130,190

Financing activities:
Payments on notes payable

27,868

20,118

56,467

60,339

22,494

60,838

12,199

5,692

5,988

16,294

117,190

Proceeds from notes payable

30,464

14,530

56,493

57,758

52,651

120,273

11,146

450

6,000

5,834

433

Cash paid on Class B Common Shares conversion

-

-

-

12,000

0

0

-

-

-

-

-

Distributions to noncontrolling interests

0

1,101

1,810

12,961

9,706

8,986

9,239

9,512

6,142

7,122

7,775

Distributions to noncontrolling interests

11,506

11,631

11,651

-

-

-

-

-

-

-

-

Repurchases of common stock

532

1,175

727

1,053

27,950

22,048

0

0

-

-

-

Payments on line of credit

-

-

-

-

-

-

-

-

-

216,141

24,962

Proceeds from issuance of convertible senior notes

-

-

-

-

-

-

-

-

-

-

65,000

Payments for debt issuance costs related to convertible senior notes

-

-

-

-

-

-

-

-

-

-

3,299

Cash dividends paid

28,345

28,263

28,135

27,840

18,010

2,334

2,159

1,832

917

868

861

Purchase of remaining interest in consolidated subsidiary

-

-

-

991

209

20

5,051

1,621

-

4,199

-

Payment of contingent consideration related to an acquisition

-

-

-

2,002

0

0

742

0

-

-

-

Proceeds from (Payments for) Other Financing Activities

25

0

-1,298

86

168

-21

48

87

13

-

57

Cash used by financing activities

-37,762

-47,758

-43,595

-59,342

-25,550

26,026

-18,196

-18,120

-7,034

-238,790

-88,597

Effects of changes in foreign currency exchange rates

2,905

-3,810

2,869

-141

-7,664

-5,189

-4,877

1,821

-803

826

5,213

Decrease in cash and cash equivalents

138,542

41,988

-35,693

6,705

-21,491

6,269

-14,249

67,695

-13,647

38,390

29,854

Supplemental information:
Retirement of Convertible Senior Notes with issuance of Common Stock

-

-

-

-

-

27,190

37,810

0

-

-

-

Receipt of partial building ownership in exchange for debt forgiveness

-

-

-

-

-

-

-

1,255

-

-

-

Settlement of wage and hour litigation through issuance of Common Stock

-

-

-

-

-

-

-

-

7,582

-

-

Settlement of note payable through issuance of Common Stock held in treasury

-

-

-

-

-

-

-

-

1,299

-

-

Net changes in financial statement amounts due to purchase of subsidiaries and other assets:
Goodwill acquired

0

17,462

14,334

-628

7,220

21,440

10,883

4,183

7,631

-

-

Intangible assets acquired

0

4,570

2,598

-1,730

38

-

-

-

-

-

-

Receivables and other assets acquired (disposed)

0

-1,209

60

1,272

0

12,620

6,918

-1,675

5,672

-

-

Liabilities (recognized) disposed

0

4,294

-327

499

3,300

-

-

-

-

-

-

Changes in financial statement amounts due to the acquisition of a subsidiary:
Intangible assets disposed (acquired)

-

-

-

-

-

21,110

8,519

0

1,988

-

-

Liabilities recognized or acquired

-

-

-

-

-

15,180

11,399

1,325

3,779

-

-

Net realized (gains) losses on the transactions

0

208

-160

-2,861

0

0

-

-

-

-

-

Debt assumed

-

-

-

-

-

-

-

-

3,250

-

-

Net cash paid for acquisition of subsidiaries and other assets

0

18,739

17,359

-1,268

3,958

39,990

14,921

1,183

8,262

-

-

Assets purchased through capital lease obligations

0

4,312

2,477

6,990

1,062

2,003

4,769

-

-

-

-

Note receivable

-

-

-

-

-

-

-

-

-

2,433

-

Investments in investees, on an equity method basis

-

-

-

-

-

-

-

-

-

5,315

-

Goodwill

-

-

-

-

-

-

-

-

-

5,902

-

Title plants

-

-

-

-

-

-

-

-

-

1,048

-

Property and equipment, net of accumulated depreciation

-

-

-

-

-

-

-

-

-

1,564

-

Intangible asset, net of amortization

-

-

-

-

-

-

-

-

0

2,928

-

Other - net

-

-

-

-

-

-

-

-

-

814

-

Noncontrolling interests

-

-

-

-

-

-

-

-

-

336

-

Investment and other gains - net

-

-

-

-

-

-

-

-

-

1,201

-

Change in cash and cash equivalents due to sale and deconsolidation of subsidiaries

-

-

-

-

-

-

-

-

-

1,873

-

Income Taxes Paid, Net

11,992

12,854

-1,642

15,265

14,982

-106

18,032

6,747

19,259

-41,528

-16,831

Interest paid

4,241

4,214

3,466

3,020

1,873

2,616

2,202

4,427

4,557

4,775

2,576

Cash paid for acquisition of subsidiary

0

18,739

17,359

-

3,958

-

-

-

-

-

-