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Guarantor Subsidiaries (Tables)
9 Months Ended
Sep. 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 September 30, 2015
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
75,319

 
$
6,194

 
$
78,744

 
$

 
$
160,257

Accounts receivable
 

 
217,698

 
22,240

 

 
239,938

Other current assets
 
50,670

 
113,512

 
4,588

 
(3,333
)
 
165,437

Property and equipment, net
 
16,027

 
303,376

 
21,590

 

 
340,993

Goodwill, net
 

 
1,676,954

 
144,868

 

 
1,821,822

Other intangible assets, net
 
248

 
275,531

 
26,411

 

 
302,190

Capitalized data and database cost, net
 

 
257,923

 
66,945

 

 
324,868

Investments in affiliates, net
 

 
99,178

 
1,378

 

 
100,556

Deferred income tax assets, long-term
 
49,365

 

 

 
(49,365
)
 

Restricted cash
 
9,776

 

 
1,088

 

 
10,864

Investment in subsidiaries
 
2,462,393

 

 

 
(2,462,393
)
 

Intercompany receivable
 
124,791

 
283,538

 

 
(408,329
)
 

Other assets
 
103,809

 
30,300

 
1,536

 

 
135,645

Total assets
 
$
2,892,398

 
$
3,264,204

 
$
369,388

 
$
(2,923,420
)
 
$
3,602,570

 
 
 
 
 
 
 
 
 
 
 
Liabilities and equity:
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
$
136,152

 
$
410,289

 
$
39,221

 
$
(3,333
)
 
$
582,329

Long-term debt, net of current
 
1,349,520

 
1,378

 

 

 
1,350,898

Deferred revenue, net of current
 

 
436,399

 
174

 

 
436,573

Deferred income taxes, long term
 

 
95,381

 
14,487

 
(49,365
)
 
60,503

Intercompany payable
 
283,539

 
22,325

 
102,465

 
(408,329
)
 

Other liabilities
 
133,676

 
28,139

 
1,450

 

 
163,265

Redeemable noncontrolling interest
 

 

 
19,491

 

 
19,491

Total CoreLogic stockholders' equity
 
989,511

 
2,270,293

 
192,100

 
(2,462,393
)
 
989,511

Total liabilities and equity
 
$
2,892,398

 
$
3,264,204

 
$
369,388

 
$
(2,923,420
)
 
$
3,602,570


 
 
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 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 September 30, 2015
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating/Eliminating Adjustments
 
Total
Operating revenues
 
$

 
$
355,304

 
$
31,135

 
$

 
$
386,439

Intercompany revenues
 

 

 
158

 
(158
)
 

Cost of services (exclusive of depreciation and amortization below)
 

 
180,987

 
11,855

 
(4
)
 
192,838

Selling, general and administrative expenses
 
18,738

 
66,753

 
5,904

 
(154
)
 
91,241

Depreciation and amortization
 
1,326

 
29,652

 
5,462

 

 
36,440

Operating (loss)/income
 
(20,064
)
 
77,912

 
8,072

 

 
65,920

Total interest expense, net
 
(15,748
)
 
(313
)
 
(501
)
 

 
(16,562
)
Loss on investments and other, net
 
(2,448
)
 

 

 

 
(2,448
)
(Benefit)/provision for income taxes
 
(14,206
)
 
32,910

 
3,061

 

 
21,765

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

 
3,712

 
(215
)
 

 
3,497

Equity in earnings of subsidiary, net of tax
 
52,222

 

 

 
(52,222
)
 

Net income from continuing operations, net of tax
 
28,168

 
48,401

 
4,295

 
(52,222
)
 
28,642

Loss from discontinued operations, net of tax
 

 
(117
)
 

 

 
(117
)
Net income
 
28,168

 
48,284

 
4,295

 
(52,222
)
 
28,525

Less: Net income attributable to noncontrolling interest
 

 

 
357

 

 
357

Net income/(loss) attributable to CoreLogic
 
$
28,168

 
$
48,284

 
$
3,938

 
$
(52,222
)
 
$
28,168

 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
28,168

 
$
48,284

 
$
4,295

 
$
(52,222
)
 
$
28,525

Total other comprehensive income
 
(26,808
)
 

 
(23,934
)
 
23,934

 
(26,808
)
Less: Comprehensive income attributable to noncontrolling interests
 

 

 
357

 

 
357

Comprehensive income attributable to CoreLogic
 
$
1,360

 
$
48,284

 
$
(19,996
)
 
$
(28,288
)
 
$
1,360


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

 
$
329,057

 
$
38,397

 
$

 
$
367,454

Intercompany revenues
 

 

 
182

 
(182
)
 

Cost of services (exclusive of depreciation and amortization below)
 

 
171,419

 
13,768

 
(19
)
 
185,168

Selling, general and administrative expenses
 
9,289

 
47,112

 
11,861

 
(163
)
 
68,099

Depreciation and amortization
 
1,212

 
27,846

 
6,707

 

 
35,765

Impairment loss
 

 
667

 

 

 
667

Operating (loss)/income
 
(10,501
)
 
82,013

 
6,243

 

 
77,755

Total interest expense, net
 
(17,321
)
 
(80
)
 
(127
)
 

 
(17,528
)
(Loss)/gain on investment and other, net
 
(398
)
 
31

 
550

 

 
183

Provision/(benefit) for income taxes
 
(16,279
)
 
30,786

 
(188
)
 

 
14,319

Equity in earnings of affiliates, net of tax
 

 
4,032

 

 

 
4,032

Equity in earnings of subsidiary, net of tax
 
57,280

 

 

 
(57,280
)
 

Net income from continuing operations, net of tax
 
45,339


55,210


6,854


(57,280
)

50,123

Loss from discontinued operations, net of tax
 

 
(4,856
)
 

 

 
(4,856
)
(Loss)/gain from sale of discontinued operations, net of tax
 

 
(1,060
)
 
1,536

 

 
476

Net income
 
45,339

 
49,294

 
8,390

 
(57,280
)
 
45,743

Less: Net income attributable to noncontrolling interest
 

 

 
404

 

 
404

Net income attributable to CoreLogic
 
$
45,339

 
$
49,294

 
$
7,986

 
$
(57,280
)
 
$
45,339

 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
45,339

 
$
49,294

 
$
8,390

 
$
(57,280
)
 
$
45,743

Total other comprehensive loss
 
(25,637
)
 

 
(26,251
)
 
26,251

 
(25,637
)
Less: Comprehensive income attributable to noncontrolling interests
 

 

 
404

 

 
404

Comprehensive income/(loss) attributable to CoreLogic
 
$
19,702

 
$
49,294

 
$
(18,265
)
 
$
(31,029
)
 
$
19,702


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

 
$
1,041,209

 
$
96,015

 
$

 
$
1,137,224

Intercompany revenues
 

 

 
537

 
(537
)
 

Cost of services (exclusive of depreciation and amortization below)
 

 
532,377

 
35,784

 
(36
)
 
568,125

Selling, general and administrative expenses
 
51,417

 
207,798

 
24,803

 
(501
)
 
283,517

Depreciation and amortization
 
3,802

 
88,354

 
17,475

 

 
109,631

Impairment loss
 

 
58

 

 

 
58

Operating (loss)/income
 
(55,219
)

212,622

 
18,490

 

 
175,893

Total interest expense, net
 
(42,892
)
 
(1,109
)
 
(1,536
)
 

 
(45,537
)
Loss on investments and other, net
 
(3,416
)
 

 
(78
)
 

 
(3,494
)
(Benefit)/provision for income taxes
 
(42,777
)
 
83,454

 
6,710

 

 
47,387

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

 
12,567

 
(636
)
 

 
11,931

Equity in earnings of subsidiary, net of tax
 
148,888

 

 

 
(148,888
)
 

Net income from continuing operations, net of tax
 
90,138

 
140,626

 
9,530

 
(148,888
)
 
91,406

Loss from discontinued operations, net of tax
 

 
(445
)
 

 

 
(445
)
Net income
 
90,138

 
140,181

 
9,530

 
(148,888
)
 
90,961

Less: Net income attributable to noncontrolling interest
 

 

 
823

 

 
823

Net income attributable to CoreLogic
 
$
90,138

 
$
140,181

 
$
8,707

 
$
(148,888
)
 
$
90,138

 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
90,138

 
$
140,181

 
$
9,530

 
$
(148,888
)
 
$
90,961

Total other comprehensive loss
 
(48,267
)
 

 
(45,080
)
 
45,080

 
(48,267
)
Less: Comprehensive income attributable to noncontrolling interests
 

 

 
823

 

 
823

Comprehensive income/(loss) attributable to CoreLogic
 
$
41,871

 
$
140,181

 
$
(36,373
)
 
$
(103,808
)
 
$
41,871

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

 
$
954,224

 
$
105,304

 
$

 
$
1,059,528

Intercompany revenues
 

 

 
475

 
(475
)
 

Cost of services (exclusive of depreciation and amortization below)
 

 
523,455

 
41,478

 
(17
)
 
564,916

Selling, general and administrative expenses
 
40,975

 
184,277

 
30,694

 
(458
)
 
255,488

Depreciation and amortization
 
3,606

 
77,271

 
19,759

 

 
100,636

Impairment loss
 

 
4,888

 

 

 
4,888

Operating (loss)/income
 
(44,581
)
 
164,333

 
13,848

 

 
133,600

Total interest expense, net
 
(48,029
)
 
(194
)
 
(1,241
)
 

 
(49,464
)
(Loss)/gain on investments and other, net
 
(3,413
)
 
5,688

 
550

 

 
2,825

(Benefit)/provision for income taxes
 
(41,306
)
 
59,657

 
4,719

 

 
23,070

Equity in earnings of affiliates, net of tax
 

 
10,289

 

 

 
10,289

Equity in earnings of subsidiary, net of tax
 
113,255

 

 

 
(113,255
)
 

Net income from continuing operations, net of tax
 
58,538

 
120,459

 
8,438

 
(113,255
)
 
74,180

Loss from discontinued operations, net of tax
 

 
(15,219
)
 

 

 
(15,219
)
(Loss)/gain on sale of discontinued operations, net of tax
 

 
(1,060
)
 
1,536

 

 
476

Net income
 
58,538

 
104,180

 
9,974

 
(113,255
)
 
59,437

Less: Net income attributable to noncontrolling interest
 

 

 
899

 

 
899

Net income attributable to CoreLogic
 
$
58,538

 
$
104,180

 
$
9,075

 
$
(113,255
)
 
$
58,538

 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
58,538

 
$
104,180

 
$
9,974

 
$
(113,255
)
 
$
59,437

Total other comprehensive loss
 
(6,305
)
 

 
(8,709
)
 
8,709

 
(6,305
)
Less: Comprehensive income attributable to noncontrolling interests
 

 

 
899

 

 
899

Comprehensive income attributable to CoreLogic
 
$
52,233

 
$
104,180

 
$
366

 
$
(104,546
)
 
$
52,233


 
 
Condensed Statement of Cash Flows
 
 
For the Nine Months Ended September 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
 
$
(41,922
)
 
$
280,039

 
$
23,136

 
$

 
$
261,253

Net cash used in operating activities - discontinued operations
 

 
(7,584
)
 

 

 
(7,584
)
Total cash (used in)/provided by operating activities
 
$
(41,922
)
 
$
272,455

 
$
23,136

 
$

 
$
253,669

Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
 
Purchases of property and equipment
 
$
(2,525
)
 
$
(20,381
)
 
$
(7,103
)
 
$

 
$
(30,009
)
Purchases of capitalized data and other intangible assets
 

 
(23,706
)
 
(4,000
)
 

 
(27,706
)
Cash paid for acquisitions, net of cash acquired
 

 
(119,346
)
 

 

 
(119,346
)
Purchases of investments
 

 
(1,746
)
 
(2,002
)
 

 
(3,748
)
Proceeds from sale of property and equipment
 

 
94

 

 

 
94

Proceeds from sale of investments
 

 

 

 

 

Change in restricted cash
 
1,259

 

 
237

 

 
1,496

Net cash used in investing activities - continuing operations
 
(1,266
)
 
(165,085
)
 
(12,868
)
 

 
(179,219
)
Net cash provided by investing activities - discontinued operations
 

 

 

 

 

Total cash used in investing activities
 
$
(1,266
)
 
$
(165,085
)
 
$
(12,868
)
 
$

 
$
(179,219
)
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
 
Proceeds from long-term debt
 
$
114,375

 
$

 
$

 
$

 
$
114,375

Debt issuance costs
 
(6,452
)
 

 

 

 
(6,452
)
Repayments of long-term debt
 
(46,474
)
 
(525
)
 

 

 
(46,999
)
Proceeds from issuance of shares in connection with share-based compensation
 
19,554

 

 

 

 
19,554

Minimum tax withholdings related to net share settlements
 
(14,425
)
 

 

 

 
(14,425
)
Shares repurchased and retired
 
(97,430
)
 

 

 

 
(97,430
)
Excess tax benefit related to stock options
 
6,284

 

 

 

 
6,284

Intercompany payments
 
(27,377
)
 
(116,968
)
 

 
144,345

 

Intercompany proceeds
 
116,968

 

 
27,377

 
(144,345
)
 

Net cash provided by/(used in) financing activities - continuing operations
 
65,023

 
(117,493
)
 
27,377

 

 
(25,093
)
Net cash provided by financing activities - discontinued operations
 

 

 

 

 

Total cash provided by/(used in) financing activities
 
$
65,023

 
$
(117,493
)
 
$
27,377

 
$

 
$
(25,093
)
Effect of exchange rate on cash
 

 

 
6,757

 

 
6,757

Net change in cash and cash equivalents
 
21,835

 
(10,123
)
 
44,402

 

 
56,114

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
 

 
(7,584
)
 

 

 
(7,584
)
Plus: Cash swept to discontinued operations
 
(8,118
)
 

 

 

 
(8,118
)
Cash and cash equivalents at end of period
 
$
75,319

 
$
6,194

 
$
78,744

 
$

 
$
160,257


 
 
Condensed Statement of Cash Flows
 
 
For the Nine Months Ended September 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
 
$
(7,831
)
 
$
190,961

 
$
27,613

 
$

 
$
210,743

Net cash used in operating activities - discontinued operations
 

 
(2,104
)
 

 

 
(2,104
)
Total cash (used in)/provided by operating activities
 
$
(7,831
)
 
$
188,857

 
$
27,613

 
$

 
$
208,639

Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
 
Purchases of property and equipment
 
$
(1,430
)
 
$
(28,016
)
 
$
(7,676
)
 
$

 
$
(37,122
)
Purchases of capitalized data and other intangible assets
 

 
(22,258
)
 
(2,949
)
 

 
(25,207
)
Cash paid for acquisitions, net of cash acquired
 

 
(643,218
)
 
(29,118
)
 

 
(672,336
)
Cash received from sale of discontinued operations
 

 
25,525

 

 

 
25,525

Proceeds from sale of property and equipment
 

 
13,937

 

 

 
13,937

Change in restricted cash
 
(1,750
)
 
307

 

 

 
(1,443
)
Net cash used in investing activities - continuing operations
 
(3,180
)
 
(653,723
)
 
(39,743
)
 

 
(696,646
)
Net cash provided by investing activities - discontinued operations
 

 

 
1,536

 

 
1,536

Total cash used in investing activities
 
$
(3,180
)
 
$
(653,723
)
 
$
(38,207
)
 
$

 
$
(695,110
)
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
 
(113,967
)
 
(4,869
)
 

 

 
(118,836
)
Proceeds from issuance of shares in connection with share-based compensation
 
5,736

 

 

 

 
5,736

Minimum tax withholdings related to net share settlements
 
(15,247
)
 

 

 

 
(15,247
)
Shares repurchased and retired
 
(72,781
)
 

 

 

 
(72,781
)
Excess tax benefit related to stock options
 
6,352

 

 

 

 
6,352

Intercompany payments
 
(665,031
)
 
(179,187
)
 

 
844,218

 

Intercompany proceeds
 
179,187

 
653,885

 
11,146

 
(844,218
)
 

Net cash provided by financing activities - continuing operations
 
224

 
469,829

 
11,146

 

 
481,199

Net cash provided by financing activities - discontinued operations
 

 

 

 

 

Total cash provided by financing activities
 
$
224

 
$
469,829

 
$
11,146

 
$

 
$
481,199

Effect of exchange rate on cash
 

 

 
(144
)
 

 
(144
)
Net change in cash and cash equivalents
 
(10,787
)
 
4,963

 
408

 

 
(5,416
)
Cash and cash equivalents at beginning of period
 
104,310

 

 
30,109

 

 
134,419

Less: Change in cash and cash equivalents - discontinued operations
 

 
(2,104
)
 
1,536

 

 
(568
)
Plus: Cash swept (to)/from discontinued operations
 
(3,489
)
 

 
1,536

 

 
(1,953
)
Cash and cash equivalents at end of period
 
$
90,034

 
$
7,067

 
$
30,517

 
$

 
$
127,618