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Guarantor Subsidiaries (Tables)
6 Months Ended
Jun. 30, 2015
Guarantor Subsidiaries [Abstract]  
Schedule of Guarantor Obligations
The following condensed consolidating financial information reflects the separate accounts of CoreLogic, Inc. (the "Parent"), 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, 2015
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
71,505

 
$
4,201

 
$
37,422

 
$

 
$
113,128

Accounts receivable
 

 
243,098

 
23,968

 

 
267,066

Other current assets
 
57,794

 
117,320

 
4,515

 
(327
)
 
179,302

Property and equipment, net
 
16,209

 
310,912

 
23,848

 

 
350,969

Goodwill, net
 

 
1,612,388

 
157,330

 

 
1,769,718

Other identifiable intangible assets, net
 
262

 
225,738

 
30,311

 

 
256,311

Capitalized data and database cost, net
 

 
256,793

 
73,176

 

 
329,969

Investments in affiliates, net
 

 
103,195

 
354

 

 
103,549

Deferred income tax assets, long-term
 
49,365

 

 

 
(49,365
)
 

Restricted cash
 
10,511

 

 
1,195

 

 
11,706

Investment in subsidiaries
 
2,433,862

 

 

 
(2,433,862
)
 

Intercompany receivable
 
88,554

 
283,808

 

 
(372,362
)
 

Other assets
 
107,080

 
30,987

 
1,562

 

 
139,629

Total assets
 
$
2,835,142

 
$
3,188,440

 
$
353,681

 
$
(2,855,916
)
 
$
3,521,347

 
 
 
 
 
 
 
 
 
 
 
Liabilities and equity:
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
$
136,719

 
$
396,088

 
$
39,522

 
$
(327
)
 
$
572,002

Long-term debt, net of current
 
1,260,145

 
1,125

 

 

 
1,261,270

Deferred revenue, net of current
 

 
423,273

 
2

 

 
423,275

Deferred income taxes, long term
 

 
93,590

 
18,532

 
(49,365
)
 
62,757

Intercompany payable
 
283,807

 
22,325

 
66,230

 
(372,362
)
 

Other liabilities
 
134,116

 
28,039

 
1,536

 

 
163,691

Redeemable noncontrolling interest
 

 

 
17,997

 

 
17,997

Total CoreLogic stockholders' equity
 
1,020,355

 
2,224,000

 
209,862

 
(2,433,862
)
 
1,020,355

Total liabilities and equity
 
$
2,835,142

 
$
3,188,440

 
$
353,681

 
$
(2,855,916
)
 
$
3,521,347


 
 
Condensed Balance Sheet
 
 
As of December 31, 2014
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
61,602

 
$
8,733

 
$
34,342

 
$

 
$
104,677

Accounts receivable
 

 
189,138

 
25,206

 

 
214,344

Other current assets
 
55,867

 
120,531

 
5,206

 

 
181,604

Property and equipment, net
 
17,261

 
325,638

 
25,715

 

 
368,614

Goodwill, net
 

 
1,612,388

 
168,370

 

 
1,780,758

Other identifiable intangible assets, net
 
290

 
242,170

 
35,810

 

 
278,270

Capitalized data and database cost, net
 

 
254,236

 
79,029

 

 
333,265

Investments in affiliates, net
 

 
103,598

 

 

 
103,598

Deferred income tax assets, long-term
 
49,365

 

 

 
(49,365
)
 

Restricted cash
 
11,035

 

 
1,325

 

 
12,360

Investment in subsidiaries
 
2,350,467

 

 

 
(2,350,467
)
 

Intercompany receivable
 
89,780

 
158,939

 

 
(248,719
)
 

Other assets
 
105,262

 
31,925

 
1,685

 

 
138,872

Total assets
 
$
2,740,929

 
$
3,047,296

 
$
376,688

 
$
(2,648,551
)
 
$
3,516,362

 
 
 
 
 
 
 
 
 
 
 
Liabilities and equity:
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
$
123,196

 
$
389,170

 
$
38,224

 
$

 
$
550,590

Long-term debt, net of current
 
1,313,270

 
5,941

 

 

 
1,319,211

Deferred revenue, net of current
 

 
389,302

 
6

 

 
389,308

Deferred income taxes, long term
 

 
91,197

 
22,147

 
(49,365
)
 
63,979

Intercompany payable
 
158,939

 
22,325

 
67,455

 
(248,719
)
 

Other liabilities
 
131,357

 
27,930

 
1,797

 

 
161,084

Redeemable noncontrolling interest
 

 

 
18,023

 

 
18,023

Total CoreLogic stockholders' equity
 
1,014,167

 
2,121,431

 
229,036

 
(2,350,467
)
 
1,014,167

Total liabilities and equity
 
$
2,740,929

 
$
3,047,296

 
$
376,688

 
$
(2,648,551
)
 
$
3,516,362


 
 
Condensed Statement of Operations
 
 
For the Three Months Ended June 30, 2015
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Operating revenues
 
$

 
$
354,003

 
$
32,010

 
$

 
$
386,013

Intercompany revenues
 

 

 
180

 
(180
)
 

Cost of services (exclusive of depreciation and amortization below)
 

 
177,668

 
12,089

 
(14
)
 
189,743

Selling, general and administrative expenses
 
13,681

 
72,626

 
12,150

 
(166
)
 
98,291

Depreciation and amortization
 
1,223

 
30,113

 
5,936

 

 
37,272

Impairment loss
 

 

 

 

 

Operating (loss)/income
 
(14,904
)
 
73,596

 
2,015

 

 
60,707

Total interest expense, net
 
(15,744
)
 
(333
)
 
(521
)
 

 
(16,598
)
Loss on investments and other, net
 
(1,278
)
 

 
(78
)
 

 
(1,356
)
(Benefit)/provision for income taxes
 
(15,225
)
 
28,384

 
997

 

 
14,156

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

 
4,999

 
(332
)
 

 
4,667

Equity in earnings of subsidiary, net of tax
 
49,490

 

 

 
(49,490
)
 

Net income from continuing operations, net of tax
 
32,789

 
49,878

 
87

 
(49,490
)
 
33,264

Loss from discontinued operations, net of tax
 

 
(217
)
 

 

 
(217
)
Net income
 
32,789

 
49,661

 
87

 
(49,490
)
 
33,047

Less: Net income attributable to noncontrolling interest
 

 

 
258

 

 
258

Net income/(loss) attributable to CoreLogic
 
$
32,789

 
$
49,661

 
$
(171
)
 
$
(49,490
)
 
$
32,789

 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
32,789

 
$
49,661

 
$
87

 
$
(49,490
)
 
$
33,047

Total other comprehensive income
 
2,788

 

 
630

 
(630
)
 
2,788

Less: Comprehensive income attributable to noncontrolling interests
 

 

 
258

 

 
258

Comprehensive income attributable to CoreLogic
 
$
35,577

 
$
49,661

 
$
459

 
$
(50,120
)
 
$
35,577


 
 
Condensed Statement of Operations
 
 
For the Three Months Ended June 30, 2014
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Operating revenues
 
$

 
$
330,262

 
$
35,708

 
$

 
$
365,970

Intercompany revenues
 

 

 
90

 
(90
)
 

Cost of services (exclusive of depreciation and amortization below)
 

 
177,644

 
14,383

 
61

 
192,088

Selling, general and administrative expenses
 
13,094

 
70,377

 
10,102

 
(151
)
 
93,422

Depreciation and amortization
 
1,245

 
27,426

 
6,695

 

 
35,366

Impairment loss
 

 
4,074

 

 

 
4,074

Operating (loss)/income
 
(14,339
)
 
50,741

 
4,618

 

 
41,020

Total interest expense, net
 
(15,724
)
 
(19
)
 
(537
)
 

 
(16,280
)
Gain on investment and other, net
 
976

 
6,016

 

 

 
6,992

Provision/(benefit) for income taxes
 
1,789

 
15,999

 
(9,151
)
 

 
8,637

Equity in earnings of affiliates, net of tax
 

 
3,874

 

 

 
3,874

Equity in earnings of subsidiary, net of tax
 
46,865

 

 

 
(46,865
)
 

Net income from continuing operations, net of tax
 
15,989


44,613


13,232


(46,865
)

26,969

Loss from discontinued operations, net of tax
 

 
(10,750
)
 

 

 
(10,750
)
Net income
 
15,989

 
33,863

 
13,232

 
(46,865
)
 
16,219

Less: Net income attributable to noncontrolling interest
 

 

 
230

 

 
230

Net income attributable to CoreLogic
 
$
15,989

 
$
33,863

 
$
13,002

 
$
(46,865
)
 
$
15,989

 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
15,989

 
$
33,863

 
$
13,232

 
$
(46,865
)
 
$
16,219

Total other comprehensive income
 
6,342

 

 
7,041

 
(7,041
)
 
6,342

Less: Comprehensive income attributable to noncontrolling interests
 

 

 
230

 

 
230

Comprehensive income attributable to CoreLogic
 
$
22,331

 
$
33,863

 
$
20,043

 
$
(53,906
)
 
$
22,331


 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Statement of Operations
 
 
For the Six Months Ended June 30, 2015
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Operating revenues
 
$

 
$
685,904

 
$
64,880

 
$

 
$
750,784

Intercompany revenues
 

 

 
379

 
(379
)
 

Cost of services (exclusive of depreciation and amortization below)
 

 
351,390

 
23,929

 
(33
)
 
375,286

Selling, general and administrative expenses
 
32,679

 
141,044

 
18,899

 
(346
)
 
192,276

Depreciation and amortization
 
2,476

 
58,703

 
12,013

 

 
73,192

Impairment loss
 

 
58

 

 

 
58

Operating (loss)/income
 
(35,155
)

134,709

 
10,418

 

 
109,972

Total interest expense, net
 
(27,144
)
 
(797
)
 
(1,034
)
 

 
(28,975
)
Loss on investments and other, net
 
(969
)
 

 
(78
)
 

 
(1,047
)
(Benefit)/provision for income taxes
 
(28,571
)
 
50,544

 
3,649

 

 
25,622

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

 
8,855

 
(421
)
 

 
8,434

Equity in earnings of subsidiary, net of tax
 
96,665

 

 

 
(96,665
)
 

Net income from continuing operations, net of tax
 
61,968

 
92,223

 
5,236

 
(96,665
)
 
62,762

Loss from discontinued operations, net of tax
 

 
(329
)
 

 

 
(329
)
Net income
 
61,968

 
91,894

 
5,236

 
(96,665
)
 
62,433

Less: Net income attributable to noncontrolling interest
 

 

 
465

 

 
465

Net income attributable to CoreLogic
 
$
61,968

 
$
91,894

 
$
4,771

 
$
(96,665
)
 
$
61,968

 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
61,968

 
$
91,894

 
$
5,236

 
$
(96,665
)
 
$
62,433

Total other comprehensive loss
 
(21,460
)
 

 
(21,146
)
 
21,146

 
(21,460
)
Less: Comprehensive income attributable to noncontrolling interests
 

 

 
465

 

 
465

Comprehensive income/(loss) attributable to CoreLogic
 
$
40,508

 
$
91,894

 
$
(16,375
)
 
$
(75,519
)
 
$
40,508

 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Statement of Operations
 
 
For the Six Months Ended June 30, 2014
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Operating revenues
 
$

 
$
625,167

 
$
66,907

 
$

 
$
692,074

Intercompany revenues
 

 

 
293

 
(293
)
 

Cost of services (exclusive of depreciation and amortization below)
 

 
352,034

 
27,711

 
3

 
379,748

Selling, general and administrative expenses
 
31,685

 
137,167

 
18,832

 
(296
)
 
187,388

Depreciation and amortization
 
2,394

 
49,427

 
13,051

 

 
64,872

Impairment loss
 

 
4,222

 

 

 
4,222

Operating (loss)/income
 
(34,079
)
 
82,317

 
7,606

 

 
55,844

Total interest expense, net
 
(30,710
)
 
(112
)
 
(1,114
)
 

 
(31,936
)
(Loss)/gain on investments and other, net
 
(3,014
)
 
5,656

 

 

 
2,642

(Benefit)/provision for income taxes
 
(22,891
)
 
26,735

 
4,907

 

 
8,751

Equity in earnings of affiliates, net of tax
 

 
6,257

 

 

 
6,257

Equity in earnings of subsidiary, net of tax
 
58,110

 

 

 
(58,110
)
 

Net income from continuing operations, net of tax
 
13,198

 
67,383

 
1,585

 
(58,110
)
 
24,056

Loss from discontinued operations, net of tax
 

 
(10,363
)
 

 

 
(10,363
)
Net income
 
13,198

 
57,020

 
1,585

 
(58,110
)
 
13,693

Less: Net income attributable to noncontrolling interest
 

 

 
495

 

 
495

Net income attributable to CoreLogic
 
$
13,198

 
$
57,020

 
$
1,090

 
$
(58,110
)
 
$
13,198

 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
13,198

 
$
57,020

 
$
1,585

 
$
(58,110
)
 
$
13,693

Total other comprehensive loss
 
19,332

 

 
17,541

 
(17,541
)
 
19,332

Less: Comprehensive income attributable to noncontrolling interests
 

 

 
495

 

 
495

Comprehensive income attributable to CoreLogic
 
$
32,530

 
$
57,020

 
$
18,631

 
$
(75,651
)
 
$
32,530


 
 
Condensed Statement of Cash Flows
 
 
For the Six Months Ended June 30, 2015
 
 
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
 
$
(31,881
)
 
$
145,821

 
$
19,187

 
$

 
$
133,127

Net cash used in operating activities - discontinued operations
 

 
(7,372
)
 

 

 
(7,372
)
Total cash (used in)/provided by operating activities
 
$
(31,881
)
 
$
138,449

 
$
19,187

 
$

 
$
125,755

Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
 
Purchases of property and equipment
 
$
(1,395
)
 
$
(14,585
)
 
$
(5,516
)
 
$

 
$
(21,496
)
Purchases of capitalized data and other intangible assets
 

 
(15,811
)
 
(2,896
)
 

 
(18,707
)
Purchases of investments
 

 
(1,746
)
 
(770
)
 

 
(2,516
)
Change in restricted cash
 
524

 

 
130

 

 
654

Net cash used in investing activities - continuing operations
 
(871
)
 
(32,142
)
 
(9,052
)
 

 
(42,065
)
Net cash used in investing activities - discontinued operations
 

 

 

 

 

Total cash used in investing activities
 
$
(871
)
 
$
(32,142
)
 
$
(9,052
)
 
$

 
$
(42,065
)
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
 
Proceeds from long-term debt
 
$
14,375

 
$

 
$

 
$

 
$
14,375

Debt issuance costs
 
(6,452
)
 

 

 

 
(6,452
)
Repayments of long-term debt
 
(35,773
)
 
(305
)
 

 

 
(36,078
)
Proceeds from issuance of stock related to stock options and employee benefit plans
 
18,109

 

 

 

 
18,109

Minimum tax withholding paid on behalf of employees for restricted stock units
 
(12,742
)
 

 

 

 
(12,742
)
Shares repurchased and retired
 
(58,720
)
 

 

 

 
(58,720
)
Excess tax benefit related to stock options
 
5,641

 

 

 

 
5,641

Intercompany payments
 

 
(117,906
)
 
(8,187
)
 
126,093

 

Intercompany proceeds
 
126,093

 

 

 
(126,093
)
 

Net cash provided by/(used in) financing activities - continuing operations
 
50,531

 
(118,211
)
 
(8,187
)
 

 
(75,867
)
Net cash provided by financing activities - discontinued operations
 

 

 

 

 

Total cash provided by/(used in) financing activities
 
$
50,531

 
$
(118,211
)
 
$
(8,187
)
 
$

 
$
(75,867
)
Effect of exchange rate on cash
 

 

 
1,132

 

 
1,132

Net increase/(decrease) in cash and cash equivalents
 
17,779

 
(11,904
)
 
3,080

 

 
8,955

Cash and cash equivalents at beginning of period
 
61,602

 
8,733

 
34,342

 

 
104,677

Less: Change in cash and cash equivalents - discontinued operations
 

 
(7,372
)
 

 

 
(7,372
)
Plus: Cash swept to discontinued operations
 
(7,876
)
 

 

 

 
(7,876
)
Cash and cash equivalents at end of period
 
$
71,505

 
$
4,201

 
$
37,422

 
$

 
$
113,128


 
 
Condensed Statement of Cash Flows
 
 
For the Six Months Ended June 30, 2014
 
 
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
 
$
(6,141
)
 
$
116,046

 
$
18,198

 
$

 
$
128,103

Net cash provided by operating activities - discontinued operations
 

 
7,430

 

 

 
7,430

Total cash (used in)/provided by operating activities
 
$
(6,141
)
 
$
123,476

 
$
18,198

 
$

 
$
135,533

Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
 
Purchases of property and equipment
 
$
(1,166
)
 
$
(19,415
)
 
$
(5,715
)
 
$

 
$
(26,296
)
Purchases of capitalized data and other intangible assets
 

 
(14,327
)
 
(2,206
)
 

 
(16,533
)
Cash paid for acquisitions, net of cash acquired
 

 
(640,918
)
 
(29,118
)
 

 
(670,036
)
Proceeds from sale of property and equipment
 

 
36

 

 

 
36

Change in restricted cash
 
(700
)
 
307

 
(101
)
 

 
(494
)
Net cash used in investing activities - continuing operations
 
(1,866
)
 
(674,317
)
 
(37,140
)
 

 
(713,323
)
Net cash used in investing activities - discontinued operations
 

 

 

 

 

Total cash used in investing activities
 
$
(1,866
)
 
$
(674,317
)
 
$
(37,140
)
 
$

 
$
(713,323
)
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
 
Proceeds from long-term debt
 
$
690,017

 
$

 
$

 
$

 
$
690,017

Debt issuance costs
 
(14,042
)
 

 

 

 
(14,042
)
Repayments of long-term debt
 
(51,892
)
 
(4,658
)
 

 

 
(56,550
)
Proceeds from issuance of stock related to stock options and employee benefit plans
 
4,440

 

 

 

 
4,440

Minimum tax withholding paid on behalf of employees for restricted stock units
 
(15,034
)
 

 

 

 
(15,034
)
Shares repurchased and retired
 
(32,041
)
 

 

 

 
(32,041
)
Excess tax benefit related to stock options
 
6,275

 

 

 

 
6,275

Intercompany payments
 
(661,974
)
 
(76,617
)
 

 
738,591

 

Intercompany proceeds
 
76,617

 
644,191

 
17,783

 
(738,591
)
 

Net cash provided by financing activities - continuing operations
 
2,366

 
562,916

 
17,783

 

 
583,065

Net cash provided by financing activities - discontinued operations
 

 

 

 

 

Total cash provided by financing activities
 
$
2,366

 
$
562,916

 
$
17,783

 
$

 
$
583,065

Effect of exchange rate on cash
 

 

 
903

 

 
903

Net (decrease)/increase in cash and cash equivalents
 
(5,641
)
 
12,075

 
(256
)
 

 
6,178

Cash and cash equivalents at beginning of period
 
104,310

 

 
30,109

 

 
134,419

Less: Change in cash and cash equivalents - discontinued operations
 

 
7,430

 

 

 
7,430

Plus: Cash swept from discontinued operations
 
7,057

 

 

 

 
7,057

Cash and cash equivalents at end of period
 
$
105,726

 
$
4,645

 
$
29,853

 
$

 
$
140,224