PROTECTIVE INSURANCE CORPORATION AND SUBSIDIARIES CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF CASH FLOWS - PARENT COMPANY ONLY (in thousands) Note to Condensed Financial Statements -- Basis of Presentation 92 The Company's investment in subsidiaries is stated at cost plus equity in the undistributed earnings of subsidiaries since the date of acquisition. The Company's share of net income of its subsidiaries is included in income using the equity method. These financial statements should be read in conjunction with the Company's consolidated financial statements. SCHEDULE II Year Ended December 31 2020 2019 2018 Net cash provided by operating activities $ 12,350 $ 10,643 $ 14,019 Investing activities: Purchases of investments (7,795) (4,967) (11,435) Sales or maturities of investments 8,777 3,935 11,213 Distributions from limited partnerships – 1 –  Net purchases of property and equipment – (380 ) (3,677 ) Net cash provided by (used in) investing activities 982 (1,411) (3,899) Financing activities: Dividends paid to shareholders (5,692 ) (5,857 ) (16,835 ) Repurchase of common shares (1,782) (11,501) (4,596) Net cash used in financing activities (7,474 ) (17,358 ) (21,431 ) Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 5,858 (8,126 ) (11,311 ) Cash, cash equivalents and restricted cash and cash equivalents at beginning of year 7,059 15,185 26,496  Cash, cash equivalents and restricted cash and cash equivalents at end of year $ 12,917 $ 7,059 $ 15,185