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Guarantor Subsidiaries (Tables)
6 Months Ended
Jun. 30, 2012
Guarantor Subsidiaries [Abstract]  
Schedule of Guarantor Obligations
The following condensed consolidating financial information reflects CoreLogic, Inc.'s (the "Parent's") separate accounts, the combined accounts of the guarantor subsidiaries, the combined accounts of the non-guarantor subsidiaries, the combined consolidating adjustments and eliminations and the Parent's consolidated accounts for the dates and periods indicated.

 
 
Condensed Balance Sheet
 
 
As of June 30, 2012
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
Current assets
 
$
284,717

 
$
322,528

 
$
40,422

 
$

 
$
647,667

Property and equipment, net
 
7,215

 
163,856

 
32,115

 

 
203,186

Goodwill
 

 
1,288,328

 
184,818

 

 
1,473,146

Other identifiable intangible assets, net
 

 
98,233

 
52,941

 

 
151,174

Capitalized data and database cost, net
 

 
222,391

 
83,857

 

 
306,248

Investments in affiliates
 

 
104,506

 
5,572

 

 
110,078

Deferred income tax assets, long-term
 
51,452

 
(17,866
)
 
2,967

 

 
36,553

Restricted cash
 
18,299

 
305

 
3,430

 

 
22,034

Investment in subsidiaries
 
1,770,565

 

 

 
(1,770,565
)
 

Other assets
 
98,356

 
28,412

 
2,063

 

 
128,831

Total assets
 
$
2,230,604

 
$
2,210,693

 
$
408,185

 
$
(1,770,565
)
 
$
3,078,917

 
 
 
 
 
 
 
 
 
 
 
Liabilities and equity:
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
$
71,496

 
$
380,550

 
$
44,142

 
$

 
$
496,188

Long-term debt, net
 
733,820

 
8,650

 
51,190

 

 
793,660

Deferred revenue
 

 
314,579

 

 

 
314,579

Deferred income taxes, long term
 

 
(5,239
)
 
23,000

 

 
17,761

Other liabilities
 
135,717

 
27,343

 
4,098

 

 
167,158

Total equity
 
1,289,571

 
1,484,810

 
285,755

 
(1,770,565
)
 
1,289,571

Total liabilities and equity
 
$
2,230,604

 
$
2,210,693

 
$
408,185

 
$
(1,770,565
)
 
$
3,078,917


 
 
Condensed Balance Sheet
 
 
As of December 31, 2011
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
Current assets
 
$
284,329

 
$
339,098

 
$
32,552

 
$

 
$
655,979

Property and equipment, net
 
8,500

 
175,129

 
30,608

 

 
214,237

Goodwill
 

 
1,288,328

 
183,878

 

 
1,472,206

Other identifiable intangible assets, net
 

 
107,994

 
56,371

 

 
164,365

Capitalized data and database cost, net
 

 
218,534

 
85,472

 

 
304,006

Investments in affiliates
 

 
108,323

 
5,486

 

 
113,809

Deferred income tax assets, long-term
 
53,724

 
(15,419
)
 

 

 
38,305

Restricted cash
 
18,298

 
122

 
3,624

 

 
22,044

Investment in subsidiaries
 
1,799,365

 

 

 
(1,799,365
)
 

Other assets
 
92,910

 
30,151

 
2,059

 

 
125,120

Total assets
 
$
2,257,126

 
$
2,252,260

 
$
400,050

 
$
(1,799,365
)
 
$
3,110,071

 
 
 
 
 
 
 
 
 
 
 
Liabilities and equity:
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
$
95,237

 
$
369,631

 
$
35,791

 
$

 
$
500,659

Long-term debt, net
 
784,570

 
10,412

 
51,045

 

 
846,027

Deferred revenue
 

 
338,799

 

 

 
338,799

Deferred income taxes, long term
 

 

 
18,383

 

 
18,383

Other liabilities
 
132,498

 
24,333

 
4,551

 

 
161,382

Total equity
 
1,244,821

 
1,509,085

 
290,280

 
(1,799,365
)
 
1,244,821

Total liabilities and equity
 
$
2,257,126

 
$
2,252,260

 
$
400,050

 
$
(1,799,365
)
 
$
3,110,071


 
 
Condensed Statement of Operations
 
 
For the three months ended June 30, 2012
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Operating revenues
 
$

 
$
367,018

 
$
22,343

 
$

 
$
389,361

External cost of revenues
 

 
89,513

 
3,703

 

 
93,216

Salaries and benefits
 
19,054

 
102,513

 
12,943

 

 
134,510

Other operating expenses
 
(5,785
)
 
68,623

 
330

 

 
63,168

Depreciation and amortization
 
603

 
24,059

 
6,243

 

 
30,905

(Loss)/income from continuing operations
 
(13,872
)
 
82,310

 
(876
)
 

 
67,562

Total interest expense, net
 
(12,508
)
 
(2
)
 
(824
)
 

 
(13,334
)
(Loss)/gain on investment and other, net
 
(296
)
 
(1,547
)
 
591

 

 
(1,252
)
(Benefit)/provision for income taxes
 
(6,944
)
 
27,960

 
2,562

 

 
23,578

Equity in earnings of affiliates, net of tax
 

 
11,405

 
340

 

 
11,745

Equity in earnings of subsidiary, net of tax
 
62,323

 

 

 
(62,323
)
 

Net income/(loss) from continuing operations, net of tax
 
42,591

 
64,206

 
(3,331
)
 
(62,323
)
 
41,143

Gain from discontinued operations, net of tax
 

 
983

 

 

 
983

Gain on sale of discontinued operations, net of tax
 

 
466

 

 

 
466

Net income/(loss)
 
42,591

 
65,655

 
(3,331
)
 
(62,323
)
 
42,592

Less: Net loss attributable to noncontrolling interest
 
(65
)
 

 

 

 
(65
)
Net income/(loss) attributable to CoreLogic
 
$
42,656

 
$
65,655

 
$
(3,331
)
 
$
(62,323
)
 
$
42,657

Total other comprehensive income/(loss)
 
(2,762
)
 

 
(3,152
)
 
3,152

 
(2,762
)
Comprehensive income/(loss) attributable to CoreLogic
 
$
39,894

 
$
65,655

 
$
(6,483
)
 
$
(59,171
)
 
$
39,895


 
 
Condensed Statement of Operations
 
 
For the three months ended June 30, 2011
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Operating revenues
 
$

 
$
295,767

 
$
32,654

 
$

 
$
328,421

External cost of revenues
 
538

 
67,522

 
1,277

 

 
69,337

Salaries and benefits
 
16,885

 
107,159

 
17,983

 

 
142,027

Other operating expenses
 
6,635

 
59,325

 
5,986

 

 
71,946

Depreciation and amortization
 
931

 
22,249

 
3,098

 

 
26,278

(Loss)/income from continuing operations
 
(24,989
)
 
39,512

 
4,310

 

 
18,833

Total interest expense, net
 
(21,457
)
 
(186
)
 
(166
)
 

 
(21,809
)
Gain on investment and other, net
 
59,952

 
7

 
82

 

 
60,041

Provision for income taxes
 
5,700

 
15,628

 
1,167

 

 
22,495

Equity in earnings/(loss) of affiliates, net of tax
 

 
5,797

 
(78
)
 

 
5,719

Equity in earnings of subsidiary, net of tax
 
23,927

 

 

 
(23,927
)
 

Net income from continuing operations, net of tax
 
31,733


29,502


2,981


(23,927
)

40,289

Loss from discontinued operations, net of tax
 

 
(8,556
)
 

 

 
(8,556
)
Net income/(loss)
 
31,733

 
20,946

 
2,981

 
(23,927
)
 
31,733

Less: Net income attributable to noncontrolling interest
 
248

 

 

 

 
248

Net income attributable to CoreLogic
 
$
31,485

 
$
20,946

 
$
2,981

 
$
(23,927
)
 
$
31,485

Total other comprehensive (loss)/income
 
(2,509
)
 
120

 
1,023

 
(1,143
)
 
(2,509
)
Comprehensive income attributable to CoreLogic
 
$
28,976

 
$
21,066

 
$
4,004

 
$
(25,070
)
 
$
28,976


 
 
Condensed Statement of Operations
 
 
For the six months ended June 30 2012
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Operating revenues
 
$

 
$
702,802

 
$
44,660

 
$

 
$
747,462

External cost of revenues
 

 
167,067

 
6,530

 

 
173,597

Salaries and benefits
 
41,432

 
207,172

 
23,648

 

 
272,252

Other operating expenses
 
(10,264
)
 
133,015

 
5,677

 

 
128,428

Depreciation and amortization
 
1,528

 
46,826

 
12,042

 

 
60,396

(Loss)/income from continuing operations
 
(32,696
)
 
148,722

 
(3,237
)
 

 
112,789

Total interest (expense)/income, net
 
(25,999
)
 
188

 
(1,665
)
 

 
(27,476
)
Gain/(loss) on investment and other, net
 
1,345

 
(1,547
)
 
591

 

 
389

(Benefit)/provision for income taxes
 
(21,470
)
 
56,365

 
1,921

 

 
36,816

Equity in earnings of affiliates, net of tax
 

 
20,571

 
644

 

 
21,215

Equity in earnings of subsidiary, net of tax
 
95,010

 

 

 
(95,010
)
 

Net income/(loss) from continuing operations, net of tax
 
59,130

 
111,569

 
(5,588
)
 
(95,010
)
 
70,101

Loss from discontinued operations, net of tax
 

 
(7,985
)
 

 

 
(7,985
)
Loss on sale of discontinued operations, net of tax
 

 
(2,987
)
 

 

 
(2,987
)
Net income/(loss)
 
59,130

 
100,597

 
(5,588
)
 
(95,010
)
 
59,129

Less: Net loss attributable to noncontrolling interest
 
(158
)
 

 

 

 
(158
)
Net income/(loss) attributable to CoreLogic
 
$
59,288

 
$
100,597

 
$
(5,588
)
 
$
(95,010
)
 
$
59,287

Total other comprehensive income
 
1,373

 

 
1,015

 
(1,015
)
 
1,373

Comprehensive income/(loss) attributable to CoreLogic
 
$
60,661

 
$
100,597

 
$
(4,573
)
 
$
(96,025
)
 
$
60,660

 
 
Condensed Statement of Operations
 
 
For the six months ended June 30, 2011
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Operating revenues
 
$

 
$
590,792

 
$
53,911

 
$

 
$
644,703

External cost of revenues
 
925

 
130,603

 
1,750

 

 
133,278

Salaries and benefits
 
40,358

 
212,230

 
30,435

 

 
283,023

Other operating expenses
 
4,639

 
119,426

 
9,613

 

 
133,678

Depreciation and amortization
 
1,858

 
43,503

 
3,954

 

 
49,315

(Loss)/income from continuing operations
 
(47,780
)
 
85,030

 
8,159

 

 
45,409

Total interest (expense)/income, net
 
(29,433
)
 
41

 
33

 

 
(29,359
)
Gain on investment and other, net
 
66,659

 
24,160

 
82

 

 
90,901

Provision for income taxes
 
10,284

 
43,064

 
2,946

 

 
56,294

Equity in earnings/(loss) of affiliates, net of tax
 

 
12,131

 
(78
)
 

 
12,053

Equity in earnings of subsidiary, net of tax
 
76,644

 

 

 
(76,644
)
 

Net income from continuing operations, net of tax
 
55,806

 
78,298

 
5,250

 
(76,644
)
 
62,710

Loss from discontinued operations, net of tax
 

 
(6,905
)
 

 

 
(6,905
)
Net income/(loss)
 
55,806

 
71,393

 
5,250

 
(76,644
)
 
55,805

Less: Net income attributable to noncontrolling interest
 
1,065

 

 

 

 
1,065

Net income/(loss) attributable to CoreLogic
 
$
54,741

 
$
71,393

 
$
5,250

 
$
(76,644
)
 
$
54,740

Total other comprehensive (loss)/income
 
(16,606
)
 
(13,973
)
 
1,291

 
12,682

 
(16,606
)
Comprehensive income/(loss) attributable to CoreLogic
 
$
38,135

 
$
57,420

 
$
6,541

 
$
(63,962
)
 
$
38,134





 
 
Condensed Statement of Cash Flows
 
 
For the six months ended June 30 2012
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
Net cash provided by/(used in) operating activities - continuing operations
 
$
3,463

 
$
180,827

 
$
(1,223
)
 
$

 
$
183,067

Net cash provided by operating activities - discontinued operations
 

 
9,490

 

 

 
9,490

Total cash provided/(used in) by operating activities
 
$
3,463

 
$
190,317

 
$
(1,223
)
 
$

 
$
192,557

Cash flow from investing activities:
 
 
 
 
 
 
 
 
 

Purchases of property and equipment
 
(244
)
 
(18,146
)
 
(6,549
)
 

 
(24,939
)
Purchases of capitalized data and other intangible assets
 

 
(14,043
)
 
(1,354
)
 

 
(15,397
)
Proceeds from sale of property and equipment
 

 
1,832

 

 

 
1,832

Change in restricted cash
 

 
(184
)
 
307

 

 
123

Net cash used in investing activities - continuing operations
 
(244
)
 
(30,541
)
 
(7,596
)
 

 
(38,381
)
Net cash provided by investing activities - discontinued operations
 

 
(4,745
)
 

 

 
(4,745
)
Total cash used in investing activities
 
$
(244
)
 
$
(35,286
)
 
$
(7,596
)
 
$

 
$
(43,126
)
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
 
Repayments of long-term debt
 
(103,018
)
 
(10,726
)
 
(81
)
 

 
(113,825
)
Share repurchases
 
(28,744
)
 

 

 

 
(28,744
)
Proceeds from issuance of stock related to stock options and employee benefit plans
 
768

 

 

 

 
768

Cash settlement of share-based compensation
 
(2,577
)
 

 

 

 
(2,577
)
Distribution to noncontrolling interests
 
(10
)
 

 

 

 
(10
)
Tax benefit related to stock options
 
109

 

 

 

 
109

Other
 
146,483

 
(151,145
)
 
4,662

 

 

Net cash provided by/(used in) financing activities - continuing operations
 
13,011

 
(161,871
)
 
4,581

 

 
(144,279
)
Net cash provided by financing activities - discontinued operations
 

 
2

 

 

 
2

Total cash provided by/(used in) financing activities
 
$
13,011

 
$
(161,869
)
 
$
4,581

 
$

 
$
(144,277
)
Net increase/(decrease) in cash and cash equivalents
 
16,230

 
(6,838
)
 
(4,238
)
 

 
5,154

Cash and cash equivalents at beginning of period
 
229,871

 
9,106

 
20,289

 

 
259,266

Change in cash and cash equivalents - discontinued operations
 

 
4,747

 

 

 
4,747

Cash and cash equivalents at end of period
 
$
246,101

 
$
(2,479
)
 
$
16,051

 
$

 
$
259,673


 
 
Condensed Statement of Cash Flows
 
 
For the six months ended June 30, 2011
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
Net cash (used in)/provided by operating activities - continuing operations
 
$
(45,325
)
 
$
66,832

 
$
14,397

 
$

 
$
35,904

Net cash provided by operating activities - discontinued operations
 

 
5,557

 

 

 
5,557

Total cash (used in)/provided by operating activities
 
$
(45,325
)
 
$
72,389

 
$
14,397

 
$

 
$
41,461

Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
 
Purchases of redeemable noncontrolling interests
 
(72,000
)
 

 

 

 
(72,000
)
Purchases of property and equipment
 
(296
)
 
(18,954
)
 
(3,424
)
 

 
(22,674
)
Purchases of capitalized data and other intangible assets
 

 
(13,117
)
 
(41
)
 

 
(13,158
)
Cash paid for acquisitions, net of cash acquired
 
(184,593
)
 

 
373

 

 
(184,220
)
Purchases of investments
 

 
(28,721
)
 

 

 
(28,721
)
Proceeds from sale of investments
 

 
53,847

 

 

 
53,847

Net cash used in investing activities - continuing operations
 
(256,889
)
 
(6,945
)
 
(3,092
)
 

 
(266,926
)
Net cash used in investing activities - discontinued operations
 

 
(2,999
)
 

 

 
(2,999
)
Total cash used in investing activities
 
$
(256,889
)
 
$
(9,944
)
 
$
(3,092
)
 
$

 
$
(269,925
)
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
 
Proceeds from long-term debt
 
750,000

 
54,035

 
53,611

 

 
857,646

Debt issuance costs
 
(21,636
)
 

 

 

 
(21,636
)
Repayments of long-term debt
 
(549,990
)
 
(104,213
)
 
(50,416
)
 

 
(704,619
)
Share repurchases
 
(176,512
)
 

 

 

 
(176,512
)
Proceeds from issuance of stock related to stock options and employee benefit plans
 
1,576

 
1,844

 

 

 
3,420

Distribution to noncontrolling interests
 
(4,615
)
 

 

 

 
(4,615
)
Tax benefit related to stock options
 
217

 
150

 

 

 
367

Other
 
23,840

 
(2,851
)
 
(20,989
)
 

 

Net cash (used in)/provided by financing activities - continuing operations
 
22,880

 
(51,035
)
 
(17,794
)
 

 
(45,949
)
Net cash provided by financing activities - discontinued operations
 

 

 

 

 

Total cash (used in)/provided by financing activities
 
$
22,880

 
$
(51,035
)
 
$
(17,794
)
 
$

 
$
(45,949
)
Net (decrease)/increase in cash and cash equivalents
 
(279,334
)
 
11,410

 
(6,489
)
 

 
(274,413
)
Cash and cash equivalents at beginning of period
 
355,974

 
23,013

 
47,225

 

 
426,212

Change in cash and cash equivalents - discontinued operations
 

 
2,558

 

 

 
2,558

Cash and cash equivalents at end of period
 
$
76,640

 
$
31,865

 
$
40,736

 
$

 
$
149,241