STEWART INFORMATION SERVICES CORP STC Cash Flow

Stewart information services corp (STC)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Reconciliation of net income (loss) to cash used by operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
102,430	90,272	102,068	52,804	56,199	59,022	62,233	55,740	52,176	60,146	62,269	78,124	83,494	68,421	53,417	13,224	6,323	4,043	12,984	49,472	37,593	38,309	44,089	36,045	57,198	72,584	117,267	136,347	134,490	118,977	58,629	27,841	7,447	8,678	0	0	0
Add (deduct):
Depreciation, Depletion and Amortization, Nonproduction
20,767	22,526	23,781	24,308	24,688	24,932	25,090	25,447	25,734	25,878	26,713	27,217	28,116	30,044	31,013	31,565	31,499	30,298	30,169	29,155	26,936	24,226	21,269	18,792	17,957	17,920	17,081	17,273	17,617	17,783	18,622	19,038	19,236	19,542	0	0	0
Provision for bad debt
1,380	1,672	898	912	1,108	519	20	-358	-302	207	2,857	2,885	3,004	3,349	2,913	3,233	3,658	3,396	2,900	3,014	2,608	1,977	1,101	1,117	897	2,170	2,009	2,240	3,588	3,201	3,078	2,412	1,026	1,318	0	0	0
Net realized and unrealized losses (gains)
-21,734	-7,240	-3,562	3,157	5,127	53	7,988	3,318	249	2,207	0	0	0	-	-	-	-2,032	-1,369	6,329	8,808	7,755	6,744	2,404	1,594	2,381	-1,066	-515	1,861	2,826	7,578	10,183	5,936	3,615	2,302	0	0	0
Amortization of net premium on debt securities investments
-4,730	-4,939	-5,256	-5,595	-5,849	-6,083	-6,309	-6,501	-6,675	-6,806	-6,933	-7,077	-7,191	-7,215	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for title losses in excess of provisions
-1,613	-6,585	-21,352	-21,195	-19,683	-11,192	5,891	12,986	18,009	13,694	10,667	2,167	-4,138	-1,056	-17,131	-11,627	-30,331	-17,154	945	-17,160	1,195	-18,803	-26,464	-6,267	-8,505	-11,280	-5,096	-8,623	8,407	15,248	19,615	11,353	4,204	2,383	0	0	0
Adjustment for insurance recoveries of title losses
-26	181	191	-95	221	1,039	-388	1	135	-654	294	82	-76	-173	-260	438	262	213	15,237	15,054	14,737	17,181	0	0	0	-	-	-	-	706	2,086	2,737	6,108	5,082	0	0	0
Decrease (increase) in receivables – net
-14,311	2,917	5,578	7,222	-2,915	-5,280	-7,385	2,238	7,092	7,667	10,239	4,184	-7,485	-7,759	-9,226	-15,608	-22,748	-12,894	-14,118	-7,942	-570	-8,791	3,176	19,290	24,476	5,796	-5,815	-10,614	1,165	16,133	21,383	24,645	-386	6,748	0	0	0
Increase in other assets – net
-3,867	-6,865	-7,785	-5,984	-8,507	-4,469	-715	612	8,699	4,512	3,853	3,199	-2,308	-391	-3,130	-2,291	-6,017	-3,073	958	-1,719	3,422	1,878	192	5,646	4,605	1,467	2,011	942	482	2,779	4,032	248	830	189	0	0	0
Decrease in accounts payable and other liabilities – net
14,518	31,471	18,231	2,736	-7,956	-12,002	-1,065	-5,525	-970	1,933	-8,343	-1,988	-4,703	-3,888	-10,792	-8,137	-9,951	2,088	-803	1,197	1,462	-6,854	-5,299	-10,830	-10,227	-8,100	14,356	14,260	18,980	29,278	12,943	11,232	7,748	-5,602	0	0	0
Change in net deferred income taxes
-10,416	-8,669	-7,512	-1,898	-165	-256	2,114	-5,542	-8,031	-8,328	-13,036	-7,758	-9,535	-7,446	2,188	4,439	5,531	5,800	2,273	-12,545	-7,292	-3,176	2,787	6,655	-8,646	-16,260	18,262	26,794	40,256	39,780	-4,182	-4,297	1,490	1,212	0	0	0
Net income from equity investees
3,315	3,044	2,592	2,219	2,071	1,940	1,694	1,954	2,209	2,163	2,714	2,742	2,690	2,834	2,608	2,534	3,332	3,579	3,626	3,981	3,671	3,442	3,309	3,213	3,021	4,137	4,537	4,906	5,297	4,253	3,931	2,903	2,072	1,710	0	0	0
Dividends received from equity investees
3,603	2,721	2,328	2,786	2,473	2,551	2,627	2,241	2,354	2,493	2,781	2,705	2,629	2,640	2,612	2,884	3,698	3,811	3,951	4,245	3,692	3,582	3,679	3,700	3,793	4,766	4,546	4,218	4,309	3,426	3,344	3,124	2,481	2,524	0	0	0
Stock-based compensation expense
2,180	2,097	5,150	4,887	5,473	4,809	6,264	3,910	4,213	5,303	-33	2,631	2,817	2,982	4,912	4,562	4,796	4,445	7,544	6,544	4,678	4,020	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other – net
100	-252	-493	-359	-459	-404	-468	-541	-525	-483	152	8	225	0	5,417	970	376	872	-5,390	-410	-654	-448	893	109	162	-281	434	350	128	-294	-2,204	-993	-1,076	-1,645	0	0	0
Cash used by operating activities
194,882	166,359	147,733	68,381	73,220	84,177	103,753	98,904	98,331	108,068	107,024	121,034	135,614	122,962	78,903	93,401	75,543	80,514	114,249	101,348	86,569	63,989	31,678	12,306	41,127	87,187	134,538	144,240	137,468	120,522	85,174	49,295	41,705	23,409	0	0	0
Investing activities:
Proceeds from Sale of Debt Securities, Available-for-sale
55,443	50,605	37,841	33,672	41,034	49,442	53,909	53,009	76,465	76,942	86,958	97,919	85,607	81,091	58,632	56,171	56,706	69,280	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from matured investments in debt securities
47,436	48,716	49,058	55,160	45,122	29,631	25,303	21,433	23,559	33,912	35,430	42,177	41,821	27,125	27,487	37,508	32,653	42,195	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of investments in securities
107,631	77,489	9,561	18,100	35,576	43,057	90,000	117,571	135,793	179,732	169,710	179,054	174,171	166,444	168,343	163,875	158,483	147,697	136,151	97,213	101,832	147,372	145,111	195,100	191,241	148,512	185,159	199,567	205,301	207,690	304,757	258,998	353,255	336,118	0	0	0
Proceeds from investments available-for-sale matured and sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	117,484	141,275	157,554	181,938	301,448	281,015	357,069	339,697	0	0	0
Net sales (purchases) of short-term investments
-2,799	639	-565	-113	127	-392	1,401	959	702	1,362	-17,502	-19,611	-19,173	-17,468	18,185	19,366	16,719	14,664	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment, and real estate – net
19,121	17,075	14,154	12,874	11,417	10,675	12,463	12,758	12,803	16,396	16,951	15,989	18,247	18,155	19,900	19,380	20,173	19,658	17,428	22,203	20,233	19,537	19,742	18,706	17,306	17,282	15,670	15,371	16,349	16,752	18,020	15,659	18,117	17,704	0	0	0
Proceeds from the sale of land, buildings, property and equipment, and real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,713	0	0	0	-	-	-	-
Increases in notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	291	0	0	0
Collections on notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	721	0	0	0
Cash paid for acquisition of businesses
1,449	0	1,100	6,761	6,761	18,739	17,214	11,257	29,337	17,359	0	0	0	-	-	-	-	3,958	4,589	5,034	43,948	39,990	38,978	53,539	14,625	14,921	16,407	1,433	1,433	1,183	0	0	0	-	-	-	-
Other – net
0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other – net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,341	1,497	2,827	4,172	5,207	4,969	2,576	3,040	2,858	2,893	2,020	390	913	384	0	0	0	-	-	-	-
Cash received (paid) for other assets, cost-basis investments, equity investees and other - net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Cash (used) provided by investing activities
-20,850	7,040	66,818	54,842	35,483	9,379	-41,539	-67,095	-77,636	-103,035	-62,098	-51,457	-43,614	-56,774	-115,858	-103,862	-100,461	-68,791	-20,918	-29,385	-69,770	-78,557	-82,272	-115,890	-70,317	-78,363	-92,858	-68,159	-61,229	-36,528	-16,842	-121	-26,660	-29,219	0	0	0
Financing activities:
Payments on notes payable
28,645	27,868	29,530	37,264	22,535	20,118	54,386	44,543	53,114	56,467	48,977	63,155	67,414	60,339	33,379	19,859	17,850	22,494	25,726	75,207	64,538	60,838	65,189	14,577	13,995	12,199	1,904	1,907	1,846	5,692	6,535	9,123	9,146	5,988	0	0	0
Proceeds from notes payable
26,214	30,464	28,461	35,010	18,984	14,530	18,033	30,622	55,618	56,493	53,845	49,077	48,633	57,758	74,411	57,962	62,651	52,651	0	0	0	-	-	-	-	11,146	0	0	0	-	-	-	-	6,000	0	0	0
Distributions to noncontrolling interests
149	0	1,014	837	1,350	1,101	2,099	2,261	2,175	1,810	11,907	12,601	12,496	12,961	12,275	11,728	11,057	9,706	8,803	8,112	9,185	8,986	9,069	9,094	8,491	9,239	10,378	9,948	10,056	9,512	8,033	7,750	6,573	6,142	0	0	0
Repurchases of common stock
546	532	969	974	975	1,175	1,414	1,399	1,306	727	0	0	0	-	-	-	-	27,950	33,576	46,917	23,441	22,048	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid
28,361	28,345	28,325	28,303	28,285	28,263	28,230	28,197	28,165	28,135	28,140	28,145	28,151	27,840	27,530	26,099	24,730	18,010	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of remaining interest in consolidated subsidiary
-	-	-	-	-	-	0	0	2,091	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Payment of contingent consideration related to an acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	742	0	0	0	-	-	-	-	-	-	-	-
Proceeds from (Payments for) Other Financing Activities
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-170	168	-1	37	77	-21	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash used by financing activities
-42,968	-37,762	-41,881	-42,887	-45,511	-47,758	-79,835	-57,528	-41,554	-43,595	-39,148	-58,792	-75,966	-59,342	-13,275	-14,303	-17,922	-25,550	-43,420	-51,261	20,832	26,026	26,100	40,544	-18,179	-18,196	-16,495	-16,158	-15,883	-18,120	-15,939	-12,190	-11,123	-7,034	0	0	0
Effects of changes in foreign currency exchange rates
-1,972	2,905	-1,379	-259	-2,159	-3,810	-1,456	-358	1,758	2,869	1,180	-846	-2,212	-141	703	-2,571	-1,553	-7,664	-7,041	-6,477	-4,827	-5,189	-8,199	-3,173	-7,665	-4,877	-1,867	-917	-91	1,821	2,261	-2,086	-681	-803	0	0	0
Decrease in cash and cash equivalents
129,092	138,542	171,291	80,077	61,033	41,988	-19,077	-26,077	-19,101	-35,693	6,958	9,939	13,822	6,705	-49,527	-27,335	-44,393	-21,491	42,870	14,225	32,804	6,269	-32,693	-66,213	-55,034	-14,249	23,318	59,006	60,265	67,695	54,654	34,898	3,241	-13,647	0	0	0
Supplemental information:
Retirement of Convertible Senior Notes with issuance of Common Stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37,810	0	0	0	-	-	-	-	-	-	-	-
Receipt of partial building ownership in exchange for debt forgiveness
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,255	0	0	0	-	-	-	-
Settlement of wage and hour litigation through issuance of Common Stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,582	0	0	0
Net changes in financial statement amounts due to purchase of subsidiaries and other assets:
Goodwill acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21,440	17,704	52,193	10,855	10,883	10,818	1,661	1,661	4,183	0	0	0	-	-	-	-
Receivables and other assets acquired (disposed)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,620	11,528	11,147	6,874	6,918	8,286	348	436	-1,675	0	0	0	-	-	-	-
Changes in financial statement amounts due to the acquisition of a subsidiary:
Liabilities recognized or acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,399	2,697	576	1,200	1,325	0	0	0	-	-	-	-
Net cash paid for acquisition of subsidiaries and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39,990	38,978	53,539	14,625	14,921	16,407	1,433	1,433	1,183	0	0	0	-	-	-	-
Cash paid for acquisition of subsidiary
1,449	0	1,100	6,761	6,761	18,739	17,214	11,257	29,337	17,359	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-