Guarantor Subsidiaries

As discussed in Note 6 - Long-Term Debt, the Notes are guaranteed on a senior unsecured basis by each of our existing and future direct and indirect subsidiaries that guarantee our Credit Agreement. These guarantees are required in support of the Notes, are coterminous with the terms of the Notes and would require performance upon certain events of default referred to in the respective guarantees. The indenture governing the Notes provides that the guarantees may be automatically and unconditionally released upon the following circumstances: 1) the guarantor is sold or sells all of its assets in compliance with the terms of the indenture; 2) the guarantor is released from its guarantee obligations under the Credit Agreement; 3) the guarantor is properly designated as an “unrestricted subsidiary;” or 4) the requirements for legal or covenant defeasance or satisfaction and discharge have been satisfied.

The maximum potential amounts that could be required to be paid under the guarantees are essentially equal to the outstanding principal and interest under the Notes. The following condensed consolidating financial information reflects the separate accounts of 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 March 31, 2016
	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating/Eliminating Adjustments			Total
Assets:
Cash and cash equivalents	$	78,600	$	19,702	$	34,802	$	—		$	133,104
Accounts receivable	—		215,710		29,400		—			245,110
Other current assets	55,028		38,534		4,817		—			98,379
Property and equipment, net	16,861		316,934		36,230		—			370,025
Goodwill, net	—		1,700,102		190,079		—			1,890,181
Other intangible assets, net	219		309,706		31,915		—			341,840
Capitalized data and database cost, net	—		259,097		72,285		—			331,382
Investments in affiliates, net	—		63,330		1,233		—			64,563
Deferred income tax assets, long-term	69,499		—		2,240		(59,284		)	12,455
Restricted cash	9,780		—		1,263		—			11,043
Investment in subsidiaries	2,550,226		—		—		(2,550,226		)	—
Intercompany receivable	146,818		363,317		—		(510,135		)	—
Other assets	74,522		32,632		1,409		—			108,563
Total assets	$	3,001,553	$	3,319,064	$	405,673	$	(3,119,645	)	$	3,606,645

Liabilities and equity:
Current liabilities	$	132,628	$	403,752	$	49,410	$	—		$	585,790
Long-term debt, net of current	1,277,422		1,519		—		—			1,278,941
Deferred revenue, net of current	—		452,286		163		—			452,449
Deferred income taxes, long term	—		60,557		24,035		(59,284		)	25,308
Intercompany payable	363,317		22,325		124,493		(510,135		)	—
Other liabilities	133,272		34,149		1,822		—			169,243
Total CoreLogic stockholders' equity	1,094,914		2,344,476		205,750		(2,550,226		)	1,094,914
Total liabilities and equity	$	3,001,553	$	3,319,064	$	405,673	$	(3,119,645	)	$	3,606,645



	Condensed Balance Sheet
	As of December 31, 2015
	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating/Eliminating Adjustments			Total
Assets:
Cash and cash equivalents	$	28,259	$	33,186		$	37,645	$	—		$	99,090
Accounts receivable	—		211,943			29,045		—			240,988
Other current assets	80,110		117,008			5,070		—			202,188
Property and equipment, net	17,806		322,109			35,739		—			375,654
Goodwill, net	—		1,700,102			181,445		—			1,881,547
Other intangible assets, net	233		319,756			32,159		—			352,148
Capitalized data and database cost, net	—		258,425			69,416		—			327,841
Investments in affiliates, net	—		68,112			1,093		—			69,205
Deferred income tax assets, long-term	51,763		—			2,219		(51,763		)	2,219
Restricted cash	9,777		—			1,149		—			10,926
Investment in subsidiaries	2,539,614		—			—		(2,539,614		)	—
Intercompany receivable	128,222		329,847			—		(458,069		)	—
Other assets	102,148		8,420			1,342		—			111,910
Total assets	$	2,957,932	$	3,368,908		$	396,322	$	(3,049,446	)	$	3,673,716

Liabilities and equity:
Current liabilities	$	136,863	$	410,538		$	67,075	$	—		$	614,476
Long-term debt, net of current	1,313,895		(25,718		)	—		—			1,288,177
Deferred revenue, net of current	—		448,654			165		—			448,819
Deferred income taxes, long term	—		132,228			26,784		(51,763		)	107,249
Intercompany payable	329,847		22,325			105,897		(458,069		)	—
Other liabilities	127,837		35,982			1,686		—			165,505
Total CoreLogic stockholders' equity	1,049,490		2,344,899			194,715		(2,539,614		)	1,049,490
Total liabilities and equity	$	2,957,932	$	3,368,908		$	396,322	$	(3,049,446	)	$	3,673,716



	Condensed Statement of Operations
	For the Three Months Ended March 31, 2016
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating/Eliminating Adjustments			Total
Operating revenues	$	—		$	421,602		$	31,941		$	—		$	453,543
Intercompany revenues	—			—			188			(188		)	—
Cost of services (exclusive of depreciation and amortization below)	—			235,338			10,035			4			245,377
Selling, general and administrative expenses	4,791			88,975			17,637			(192		)	111,211
Depreciation and amortization	1,117			32,275			6,252			—			39,644
Operating (loss)/income	(5,908		)	65,014			(1,795		)	—			57,311
Total interest expense, net	(12,307		)	(294		)	(1,052		)	—			(13,653		)
Loss on investments and other, net	(251		)	—			—			—			(251		)
(Benefit)/provision for income taxes	(6,087		)	23,015			(1,149		)	—			15,779
Equity in earnings/(losses) of affiliates, net of tax	—			248			(338		)	—			(90		)
Equity in earnings of subsidiary, net of tax	39,859			—			—			(39,859		)	—
Net income from continuing operations, net of tax	27,480			41,953			(2,036		)	(39,859		)	27,538
Loss from discontinued operations, net of tax	—			(58		)	—			—			(58		)
Net income/(loss) attributable to CoreLogic	$	27,480		$	41,895		$	(2,036	)	$	(39,859	)	$	27,480

Net income/(loss)	$	27,480		$	41,895		$	(2,036	)	$	(39,859	)	$	27,480
Total other comprehensive income/(loss)	9,283			—			11,595			(11,595		)	9,283
Comprehensive income attributable to CoreLogic	$	36,763		$	41,895		$	9,559		$	(51,454	)	$	36,763



	Condensed Statement of Operations
	For the Three Months Ended March 31, 2015
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating/Eliminating Adjustments			Total
Operating revenues	$	—		$	331,904		$	32,868		$	—		$	364,772
Intercompany revenues	—			—			198			(198		)	—
Cost of services (exclusive of depreciation and amortization below)	—			173,720			11,841			(18		)	185,543
Selling, general and administrative expenses	18,998			68,419			6,749			(180		)	93,986
Depreciation and amortization	1,253			28,648			6,077			—			35,978
Operating (loss)/income	(20,251		)	61,117			8,399			—			49,265
Total interest expense, net	(11,400		)	(463		)	(514		)	—			(12,377		)
Gain on investment and other, net	309			—			—			—			309
(Benefit)/provision for income taxes	(13,346		)	22,159			2,652			—			11,465
Equity in earnings/(losses) of affiliates, net of tax	—			3,855			(89		)	—			3,766
Equity in earnings of subsidiary, net of tax	47,175			—			—			(47,175		)	—
Net income from continuing operations, net of tax	29,179			42,350			5,144			(47,175		)	29,498
Loss from discontinued operations, net of tax	—			(111		)	—			—			(111		)
Net income	29,179			42,239			5,144			(47,175		)	29,387
Less: Net income attributable to noncontrolling interest	—			—			208			—			208
Net income attributable to CoreLogic	$	29,179		$	42,239		$	4,936		$	(47,175	)	$	29,179

Net income	$	29,179		$	42,239		$	5,144		$	(47,175	)	$	29,387
Total other comprehensive loss	(24,248		)	—			(21,776		)	21,776			(24,248		)
Less: Comprehensive income attributable to noncontrolling interests	—			—			208			—			208
Comprehensive income/(loss) attributable to CoreLogic	$	4,931		$	42,239		$	(16,840	)	$	(25,399	)	$	4,931



	Condensed Statement of Cash Flows
	For the Three Months Ended March 31, 2016
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating/Eliminating Adjustments			Total
Cash flows from operating activities:
Net cash provided/(used in) by operating activities - continuing operations	$	5,031		$	84,743		$	(3,074	)	$	—		$	86,700
Net cash provided by operating activities - discontinued operations	—			27			—			—			27
Total cash provided by/(used in) operating activities	$	5,031		$	84,770		$	(3,074	)	$	—		$	86,727
Cash flow from investing activities:
Purchase of subsidiary shares from and other decreases in noncontrolling interests	$	—		$	—		$	(18,023	)	$	—		$	(18,023	)
Purchases of property and equipment	(158		)	(7,659		)	(1,993		)	—			(9,810		)
Purchases of capitalized data and other intangible assets	—			(7,601		)	(1,420		)	—			(9,021		)
Purchases of investments	—			—			(440		)	—			(440		)
Proceeds from sale of property and equipment	—			8			—			—			8
Change in restricted cash	(4		)	—			(113		)	—			(117		)
Net cash used in investing activities - continuing operations	(162		)	(15,252		)	(21,989		)	—			(37,403		)
Net cash provided by investing activities - discontinued operations	—			—			—			—			—
Total cash used in investing activities	$	(162	)	$	(15,252	)	$	(21,989	)	$	—		$	(37,403	)
Cash flow from financing activities:
Repayments of long-term debt	$	(10,625	)	$	(5,205	)	$	—		$	—		$	(15,830	)
Proceeds from issuance of shares in connection with share-based compensation	6,296			—			—			—			6,296
Minimum tax withholdings related to net share settlements	(7,178		)	—			—			—			(7,178		)
Excess tax benefit related to stock options	1,265			—			—			—			1,265
Intercompany payments	(22,083		)	(77,797		)	—			99,880			—
Intercompany proceeds	77,797			—			22,083			(99,880		)	—
Net cash provided by/(used in) financing activities - continuing operations	45,472			(83,002		)	22,083			—			(15,447		)
Net cash provided by financing activities - discontinued operations	—			—			—			—			—
Total cash provided by/(used in) financing activities	$	45,472		$	(83,002	)	$	22,083		$	—		$	(15,447	)
Effect of exchange rate on cash	—			—			137			—			137
Net change in cash and cash equivalents	50,341			(13,484		)	(2,843		)	—			34,014
Cash and cash equivalents at beginning of period	28,259			33,186			37,645			—			99,090
Less: Change in cash and cash equivalents - discontinued operations	—			27			—			—			27
Plus: Cash swept from discontinued operations	—			27			—			—			27
Cash and cash equivalents at end of period	$	78,600		$	19,702		$	34,802		$	—		$	133,104



	Condensed Statement of Cash Flows
	For the Three Months Ended March 31, 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	$	(25,381	)	$	53,933		$	12,692		$	—		$	41,244
Net cash used in operating activities - discontinued operations	—			(1,010		)	—			—			(1,010		)
Total cash (used in)/provided by operating activities	$	(25,381	)	$	52,923		$	12,692		$	—		$	40,234
Cash flow from investing activities:
Purchases of property and equipment	$	(359	)	$	(8,511	)	$	(2,527	)	$	—		$	(11,397	)
Purchases of capitalized data and other intangible assets	—			(7,797		)	(3,447		)	—			(11,244		)
Purchases of investments	—			—			(388		)	—			(388		)
Change in restricted cash	—			—			146			—			146
Net cash used in investing activities - continuing operations	(359		)	(16,308		)	(6,216		)	—			(22,883		)
Net cash provided by investing activities - discontinued operations	—			—			—			—			—
Total cash used in investing activities	$	(359	)	$	(16,308	)	$	(6,216	)	$	—		$	(22,883	)
Cash flow from financing activities:
Proceeds from long-term debt	$	—		$	135		$	—		$	—		$	135
Repayments of long-term debt	(35,551		)	—			—			—			(35,551		)
Proceeds from issuance of shares in connection with share-based compensation	10,701			—			—			—			10,701
Minimum tax withholdings related to net share settlements	(11,792		)	—			—			—			(11,792		)
Excess tax benefit related to stock options	4,575			—			—			—			4,575
Intercompany payments	—			(42,910		)	(3,656		)	46,566			—
Intercompany proceeds	46,566			—			—			(46,566		)	—
Net cash provided by/(used in) financing activities - continuing operations	14,499			(42,775		)	(3,656		)	—			(31,932		)
Net cash provided by financing activities - discontinued operations	—			—			—			—			—
Total cash provided by/(used in) financing activities	$	14,499		$	(42,775	)	$	(3,656	)	$	—		$	(31,932	)
Effect of exchange rate on cash	—			—			67			—			67
Net change in cash and cash equivalents	(11,241		)	(6,160		)	2,887			—			(14,514		)
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	—			(1,010		)	—			—			(1,010		)
Plus: Cash swept to discontinued operations	(1,467		)	—			—			—			(1,467		)
Cash and cash equivalents at end of period	$	48,894		$	3,583		$	37,229		$	—		$	89,706