Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | Apr. 25, 2014 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'CORELOGIC, INC. | ' |
Entity Central Index Key | '0000036047 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well Known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Periods Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 91,839,844 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $122,906 | $134,741 |
Marketable securities | 22,334 | 22,220 |
Accounts receivable (less allowance for doubtful accounts of $12,062 and $12,930 as of March 31, 2014 and December 31, 2013, respectively) | 194,024 | 196,282 |
Prepaid expenses and other current assets | 49,864 | 50,674 |
Income tax receivable | 19,977 | 13,516 |
Deferred income tax assets, current | 89,041 | 86,158 |
Assets of discontinued operations | 134,315 | 138,023 |
Total current assets | 632,461 | 641,614 |
Property and equipment, net | 375,175 | 195,645 |
Goodwill, net | 1,765,932 | 1,390,674 |
Other intangible assets, net | 305,935 | 175,808 |
Capitalized data and database costs, net | 338,983 | 330,188 |
Investment in affiliates, net | 112,885 | 95,343 |
Restricted cash | 12,630 | 12,050 |
Other assets | 176,017 | 162,033 |
Total assets | 3,720,018 | 3,003,355 |
Current liabilities: | ' | ' |
Accounts payable and accrued expenses | 158,368 | 154,526 |
Accrued salaries and benefits | 72,549 | 101,715 |
Deferred revenue, current | 253,888 | 223,323 |
Current portion of long-term debt | 43,874 | 28,154 |
Liabilities of discontinued operations | 29,419 | 30,309 |
Total current liabilities | 558,098 | 538,027 |
Long-term debt, net of current | 1,480,675 | 811,776 |
Deferred revenue, net of current | 363,852 | 377,086 |
Deferred income tax liabilities, long term | 100,105 | 74,308 |
Other liabilities | 162,656 | 147,583 |
Total liabilities | 2,665,386 | 1,948,780 |
Redeemable noncontrolling interests | 10,439 | 10,202 |
CoreLogic stockholders' equity: | ' | ' |
Preferred stock, $0.00001 par value; 500 shares authorized, no shares issued or outstanding | 0 | 0 |
Common stock, $0.00001 par value; 180,000 shares authorized; 91,814 and 91,254 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively | 1 | 1 |
Additional paid-in capital | 661,762 | 672,165 |
Retained earnings | 423,030 | 425,796 |
Accumulated other comprehensive loss | -40,600 | -53,589 |
Total equity | 1,044,193 | 1,044,373 |
Total liabilities and equity | 3,720,018 | 3,003,355 |
Total [Member] | ' | ' |
Current assets: | ' | ' |
Cash and cash equivalents | 122,906 | 134,741 |
Accounts receivable (less allowance for doubtful accounts of $12,062 and $12,930 as of March 31, 2014 and December 31, 2013, respectively) | 194,024 | 196,282 |
Property and equipment, net | 375,175 | 195,645 |
Goodwill, net | 1,765,932 | 1,390,674 |
Other intangible assets, net | 305,935 | 175,808 |
Investment in affiliates, net | 112,885 | 95,343 |
Restricted cash | 12,630 | 12,050 |
Other assets | 176,017 | 162,033 |
Total assets | 3,720,018 | 3,003,355 |
Current liabilities: | ' | ' |
Total current liabilities | 558,098 | 538,027 |
Long-term debt, net of current | 1,480,675 | 811,776 |
Deferred revenue, net of current | 363,852 | 377,086 |
Deferred income tax liabilities, long term | 100,105 | 74,308 |
Other liabilities | 162,656 | 147,583 |
Redeemable noncontrolling interests | 10,439 | 10,202 |
CoreLogic stockholders' equity: | ' | ' |
Total liabilities and equity | $3,720,018 | $3,003,355 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Current assets: | ' | ' |
Allowance for doubtful accounts | $12,062 | $19,930 |
Equity: | ' | ' |
Preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized (in shares) | 500 | 500 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized (in shares) | 180,000 | 180,000 |
Common stock, shares issued (in shares) | 91,814 | 91,254 |
Common stock, shares outstanding (in shares) | 91,814 | 91,254 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating revenues | $310,417 | $331,301 |
Cost of services (excluding depreciation and amortization shown below) | 177,381 | 167,629 |
Selling, General and Administrative Expense | 89,944 | 82,196 |
Depreciation and amortization | 29,439 | 34,141 |
Total operating expenses | 296,764 | 283,966 |
Income from continuing operations | 13,653 | 47,335 |
Interest expense: | ' | ' |
Interest income | 1,171 | 724 |
Interest expense | 16,828 | 12,375 |
Total interest expense, net | -15,657 | -11,651 |
(Loss)/gain on investments and other, net | -4,351 | 1,339 |
(Loss)/income from continuing operations before equity in earnings of affiliates and income taxes | -6,355 | 37,023 |
Provision for income taxes | -362 | 14,222 |
(Loss)/income from continuing operations before equity in earnings of affiliates | -5,993 | 22,801 |
Equity in earnings of affiliates, net of tax | 2,382 | 8,788 |
Net (loss)/income from continuing operations | -3,611 | 31,589 |
Income from discontinued operations, net of tax | 1,083 | 3,697 |
Less: Loss from sale of discontinued operations, net of tax | 0 | -1,744 |
Net income/(loss) | -2,528 | 33,542 |
Less: Net income/(loss) attributable to noncontrolling interests | 264 | -26 |
Net (loss)/income attributable to CoreLogic | -2,792 | 33,568 |
Amounts attributable to Corelogic stockholders: | ' | ' |
Net income/(loss) from continuing operations | -3,875 | 31,615 |
Loss from discontinued operations, net of tax | 1,083 | 3,697 |
Net income/(loss) attributable to CoreLogic | ($2,792) | $33,568 |
Basic income/(loss) per share: | ' | ' |
Net income/(loss) from continuing operations | ($0.04) | $0.33 |
Loss from discontinued operations, net of tax | $0.01 | $0.04 |
Gain from sale of discontinued operations, net of tax | $0 | ($0.02) |
Net income/(loss) attributable to Corelogic | ($0.03) | $0.35 |
Diluted income/(loss) per share: | ' | ' |
Net income/(loss) from continuing operations | ($0.04) | $0.32 |
Loss from discontinued operations, net of tax | $0.01 | $0.04 |
Gain from sale of discontinued operations, net of tax | $0 | ($0.02) |
Net income/(loss) attributable to Corelogic | ($0.03) | $0.34 |
Weighted-average common shares outstanding: | ' | ' |
Basic | 91,433 | 97,113 |
Diluted | 91,433 | 99,056 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($2,528) | $33,542 |
Other comprehensive income/(loss): | ' | ' |
Market value adjustments to marketable securities, net of tax | 70 | -184 |
Market value adjustments on interest rate swap, net of tax | 100 | ' |
Foreign currency translation adjustments | 10,502 | -933 |
Supplemental benefit plans adjustments, net of tax | -65 | 25 |
Total other comprehensive income/(loss) | 12,989 | -538 |
Comprehensive income | 10,461 | 33,004 |
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 264 | -26 |
Comprehensive income attributable to CoreLogic | 10,197 | 33,030 |
Interest Rate Swap [Member] | ' | ' |
Other comprehensive income/(loss): | ' | ' |
Market value adjustments on interest rate swap, net of tax | -73 | 554 |
Reclassification adjustment for loss on terminated interest rate swap included in net income | ($2,555) | $0 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities: | ' | ' |
Net income/(loss) | ($2,528) | $33,542 |
Less: Income from discontinued operations, net of tax | 1,083 | 3,697 |
Less: (Loss)/gain from sale of discontinued operations, net of tax | 0 | -1,744 |
Net (loss)/income from continuing operations | -3,611 | 31,589 |
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 29,439 | 34,141 |
Provision for bad debt and claim losses | 3,688 | 4,928 |
Share-based compensation | 7,924 | 8,103 |
Tax benefit related to stock options | -5,942 | -2,321 |
Equity in earnings of affiliates, net of taxes | -2,382 | -8,788 |
Loss on early extinguishment of debt | 593 | 0 |
Deferred income tax | 44 | 3,342 |
Loss/(gain) on investments and other, net | 4,351 | -1,339 |
Change in operating assets and liabilities, net of acquisitions: | ' | ' |
Accounts receivable | 13,252 | -6,262 |
Prepaid expenses and other current assets | 2,913 | 4,027 |
Accounts payable and accrued expenses | -31,044 | -22,181 |
Deferred revenue | -9,537 | 15,572 |
Income taxes | -7,856 | 26,138 |
Dividends received from investments in affiliates | 4,258 | 11,236 |
Other assets and other liabilities | 6,581 | -16,113 |
Net cash provided by operating activities - continuing operations | 12,671 | 82,072 |
Net cash provided by operating activities - discontinued operations | 3,982 | 9,003 |
Total cash provided by operating activities | 16,653 | 91,075 |
Cash flows from investing activities: | ' | ' |
Purchases of capitalized data and other intangible assets | -7,185 | -9,489 |
Purchases of property and equipment | -13,427 | -18,050 |
Cash paid for acquisitions, net of cash acquired | -665,758 | -7,027 |
Purchases of investments | 0 | -2,351 |
Proceeds from sale of subsidiary and other decreases in noncontrolling interest, net | 0 | 2,263 |
Change in restricted cash | -580 | -40 |
Net cash used in investing activities - continuing operations | -686,950 | -34,694 |
Net cash used in investing activities - discontinued operations | -6 | -87 |
Total cash used in investing activities | -686,956 | -34,781 |
Cash flows from financing activities: | ' | ' |
Proceeds from long-term debt | 689,641 | 0 |
Debt issuance costs | -14,042 | 0 |
Repayment of long-term debt | -5,154 | -4,400 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 2,730 | 4,621 |
Minimum tax withholding paid on behalf of employees for restricted stock units | -14,314 | -6,437 |
Shares repurchased and retired | -6,850 | -75,676 |
Tax benefit related to stock options | 5,942 | 2,321 |
Net cash used in financing activities - continuing operations | 657,953 | -79,571 |
Net cash provided by financing activities - discontinued operations | 0 | 0 |
Total cash used in financing activities | 657,953 | -79,571 |
Effect of exchange rate on cash | 482 | -26 |
Net decrease in cash and cash equivalents | -11,868 | -23,303 |
Cash and cash equivalents at beginning of period | 134,741 | 151,986 |
Less: Change in cash and cash equivalents - discontinued operations | 3,976 | 8,916 |
Plus: Cash swept from discontinued operations | 4,009 | 8,866 |
Cash and cash equivalents at end of period | 122,906 | 128,633 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid for interest | 6,845 | 2,800 |
Cash paid for income taxes | 1,103 | 1,355 |
Cash refunds from income taxes | $0 | $13,756 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statement of Equity (Unaudited) (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income [Member] |
In Thousands, unless otherwise specified | |||||
Beginning Balance at Dec. 31, 2013 | $1,044,373 | $1 | $672,165 | $425,796 | ($53,589) |
Beginning Balance, Shares at Dec. 31, 2013 | 91,254 | 91,254 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net Income Sse | -2,792 | ' | ' | ' | ' |
Shares issued in connection with share-based compensation (shares) | ' | 776 | ' | ' | ' |
Shares issued in connection with share-based compensation (value) | 2,730 | ' | 2,730 | ' | ' |
Tax withholdings related to net share settlements of restricted stock units | -14,314 | ' | -14,314 | ' | ' |
Share-based compensation | 8,031 | ' | 8,031 | ' | ' |
Shares repurchased and retired (shares) | ' | -216 | ' | ' | ' |
Shares repurchased and retired (value) | -6,850 | ' | -6,850 | ' | ' |
Purchase of subsidiary shares from noncontrolling interests | 26 | ' | ' | ' | ' |
Other comprehensive income | 12,989 | ' | ' | ' | 12,989 |
Ending Balance at Mar. 31, 2014 | $1,044,193 | $1 | $661,762 | $423,030 | ($40,600) |
Ending Balance, Shares at Mar. 31, 2014 | 91,814 | 91,814 | ' | ' | ' |
Basis_of_Condensed_Consolidate
Basis of Condensed Consolidated Financial Statements | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||
Basis of Condensed Consolidated Financial Statements | ' | |||||||
Basis of Condensed Consolidated Financial Statements | ||||||||
CoreLogic, Inc., together with its subsidiaries (collectively "we", "us" or "our"), is a leading global property information, analytics and data-enabled services provider operation in North America, Western Europe and Asia Pacific. Our combined data from public, contributory and proprietary sources provides detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets we serve include real estate and mortgage finance, insurance, capital markets, and the public sector. We deliver value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on us to help identify and manage growth opportunities, improve performance and mitigate risk. We are also a party to several joint ventures that provide products used in connection with loan originations, including appraisal management services, title insurance and other settlement services. These joint ventures are reflected as investments in affiliates on our consolidated balance sheets and our share of the income is reflected as equity in earnings of affiliates in our consolidated statements of income. | ||||||||
Our condensed consolidated financial information included in this report has been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) including the instructions to Form 10-Q and Article 10 of SEC Regulation S-X. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the condensed consolidated financial statements and accompanying notes. Actual amounts may differ from these estimated amounts. Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The 2013 year-end condensed consolidated balance sheet was derived from the Company's audited financial statements for the year ended December 31, 2013. The principles for interim financial information do not require the inclusion of all the information and footnotes required by GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2013, as amended. | ||||||||
The accompanying unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of only normal recurring items which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for the full year or for any future periods. | ||||||||
Comprehensive Income/(Loss) | ||||||||
Comprehensive income/(loss) includes all changes in equity except those resulting from investments by owners and distributions to owners. Specifically, foreign currency translation adjustments, amounts related to supplemental benefit plans, unrealized gains and losses on interest rate swap transactions and unrealized gains and losses on investment are recorded in other comprehensive income/(loss). | ||||||||
The following table shows the components of accumulated other comprehensive loss, net of taxes as of March 31, 2014 and December 31, 2013: | ||||||||
2014 | 2013 | |||||||
Cumulative foreign currency translation | $ | (40,285 | ) | $ | (50,787 | ) | ||
Cumulative supplemental benefit plans | (633 | ) | (568 | ) | ||||
Net unrecognized losses on interest rate swap | — | (2,482 | ) | |||||
Net unrealized gains on marketable securities | 318 | 248 | ||||||
Accumulated other comprehensive loss | $ | (40,600 | ) | $ | (53,589 | ) | ||
Escrow Administration Arrangements | ||||||||
We administer escrow deposits as a service to our customers in connection with our tax services business. These deposits are maintained in segregated accounts for the benefit of our customers. Escrow deposits totaled $4.1 billion as of March 31, 2014 and $317.2 million as of December 31, 2013. Because these deposits are held on behalf of our customers, they are not our funds and, therefore, are not included in the accompanying consolidated balance sheets. | ||||||||
Escrow deposits are generally held by the Company for a period of two to five business days and we typically either receive earnings credits or earn interest income from these funds through a highly-rated, liquid investment, such as bank deposit products. We bear the risk of any losses on any such investment. However, we have not historically incurred any investment losses and do not anticipate incurring any future investment losses. As a result, we do not maintain any reserves for losses in value of these investments. | ||||||||
Recent Accounting Pronouncements | ||||||||
In April 2014, the Financial Accounting Standards Board (“FASB”) issued updated guidance on reporting discontinued operations and disclosures of disposals of components of an entity. Under the amendment only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results will be reported as discontinued operations in the financial statements. Next, the elimination of the component's operations, cash flows and significant continuing involvement conditions have been removed. Lastly, an equity method investment could be reported as discontinued operations. The updated guidance is effective prospectively for all disposals or classifications as held for sale that occur within annual periods beginning after December 15, 2014. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. | ||||||||
In July 2013, the FASB issued updated guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”), a similar tax loss, or a tax credit carryforward exists. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset (“DTA”) for a NOL carryforward, a similar tax loss, or a tax credit carryforward. However, to the extent a NOL carryforward, similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction and the entity does not intend to use the DTA for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability. The updated guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2013. Adoption of this guidance did not have a material impact on our consolidated financial statements. | ||||||||
In March 2013, the FASB issued updated guidance related to release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. This update clarifies that the release of cumulative translation adjustments into net income is required for both an entity ceasing to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity and when there is a loss of a controlling financial interest in a foreign entity or a step acquisition involving an equity method investment that is a foreign entity. The updated guidance is effective for annual and interim periods beginning after December 15, 2013. Adoption of this guidance did not have a material impact on our consolidated financial statements. |
Investments_in_Affiliates
Investments in Affiliates | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||
Investments in Affiliates | ' | |||||||
Investment in Affiliates, net | ||||||||
Investments in affiliates are accounted for under the equity method of accounting as we are deemed to have significant influence over the affiliate but do not control or have a majority voting interest in the affiliate. Investments are carried at the cost of acquisition, including subsequent capital contributions and loans from us, plus our equity in undistributed earnings or losses since inception of the investment. We recorded equity in earnings of affiliates, net of tax of $2.4 million and $8.8 million for the three months ended March 31, 2014 and 2013, respectively. Income tax expense of $1.5 million and $5.4 million was recorded on these earnings for the three months ended March 31, 2014 and 2013, respectively. | ||||||||
One of our subsidiaries owns a 50.1% interest in RELS LLC ("RELS"), a joint venture that provides products and services used in connection with loan originations. This investment in affiliate contributed 87.6% and 69.8% of our total equity in earnings of affiliates, net of tax, for the three months ended March 31, 2014 and 2013, respectively. Based on the terms and conditions of the RELS joint venture agreement, we have significant influence over but do not have control of, nor a majority voting interest in, the joint venture. | ||||||||
The following summarized financial information for this investment (assuming 100% ownership interest), has been revised to correct an error in the financial statements prepared by RELS related to the presentation of expenses and other from a net basis to a gross basis for certain costs. The effect of the change is an increase to previously reported revenue and an increase to previously reported expenses and other of $1.8 million for the three months ended March 31, 2013. There is no net income impact and therefore no impact on the total equity in earnings of affiliates recorded by the Company for this investment. Accordingly, this investment is accounted for under the equity method. The summarized information is as follows: | ||||||||
For the Three Months Ended | ||||||||
March 31, | ||||||||
(in thousands) | 2014 | 2013 | ||||||
Statements of income | ||||||||
Total revenues | $ | 47,523 | $ | 93,184 | ||||
Expenses and other | 40,808 | 72,772 | ||||||
Net income attributable to RELS LLC | $ | 6,715 | $ | 20,412 | ||||
CoreLogic equity in earnings of affiliate, pre-tax | $ | 3,364 | $ | 10,226 | ||||
In March 2014, we acquired certain equity interests, assets and intellectual property; which we collectively refer to as "MSB/DataQuick." See Note 13 - Acquisitions for additional information. The acquisition included a 29.4% interest in Symbility Solutions Inc. ("Symbility"). In connection with the purchase price allocation, we preliminarily recorded $18.3 million to reflect our basis in Symbility, which we account for under the equity method of accounting as we have significant influence over but do not have control of, or a majority voting interest in, Symbility. | ||||||||
See Note 10 - Fair Value of Financial Instruments for further discussion on investment in affiliates, net measured at fair value on a nonrecurring basis. |
Marketable_Securities
Marketable Securities | 3 Months Ended | |||
Mar. 31, 2014 | ||||
Investments, Debt and Equity Securities [Abstract] | ' | |||
Marketable Securities | ' | |||
Marketable Securities | ||||
Our marketable securities consist primarily of investments in preferred stock of $22.3 million and $22.2 million as of March 31, 2014 and December 31, 2013, respectively. We classify our marketable securities as available-for-sale and carry them at fair value with unrealized gains or losses classified as a component of accumulated other comprehensive income. There were no gains or losses recognized on sales of marketable securities for the three months ended March 31, 2014 and 2013. |
Property_and_Equipment_Net
Property and Equipment, Net | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property and Equipment, Net | ' | |||||||
Property and Equipment, Net | ||||||||
Property and equipment, net as of March 31, 2014 and December 31, 2013 consists of the following: | ||||||||
(in thousands) | 2014 | 2013 | ||||||
Land | $ | 4,000 | $ | 4,000 | ||||
Buildings | 11,010 | 10,780 | ||||||
Furniture and equipment | 99,352 | 88,794 | ||||||
Capitalized software | 667,369 | 481,662 | ||||||
Leasehold improvements | 51,554 | 50,001 | ||||||
833,285 | 635,237 | |||||||
Less accumulated depreciation | (458,110 | ) | (439,592 | ) | ||||
Property and equipment, net | $ | 375,175 | $ | 195,645 | ||||
Depreciation expense for property and equipment was approximately $13.8 million and $18.3 million for the three months ended March 31, 2014 and 2013, respectively. See Note 10 - Fair Value of Financial Instruments for further discussion on property and equipment, net measured at fair value on a nonrecurring basis. |
Goodwill
Goodwill | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Goodwill | ' | |||||||||||
Goodwill, net | ||||||||||||
A reconciliation of the changes in the carrying amount of goodwill and accumulated impairment losses, by reporting unit, for the three months ended March 31, 2014, is as follows: | ||||||||||||
(in thousands) | D&A | TPS | Consolidated | |||||||||
Balance as of January 1, 2014 | ||||||||||||
Goodwill | $ | 689,442 | $ | 708,757 | $ | 1,398,199 | ||||||
Accumulated impairment losses | (600 | ) | (6,925 | ) | (7,525 | ) | ||||||
Goodwill, net | 688,842 | 701,832 | 1,390,674 | |||||||||
Acquisitions | 337,378 | 29,900 | 367,278 | |||||||||
Translation adjustments | 5,665 | — | 5,665 | |||||||||
Other | 2,315 | — | 2,315 | |||||||||
Balance as of March 31, 2014 | ||||||||||||
Goodwill, net | $ | 1,034,200 | $ | 731,732 | $ | 1,765,932 | ||||||
In connection with our acquisition of MSB/DataQuick, we preliminarily recorded $333.5 million of goodwill within our Data & Analytics ("D&A") reporting unit and $29.9 million of goodwill within our Technology and Processing Solutions ("TPS") reporting unit for the three months ended March 31, 2014. Further, we preliminarily recorded $2.1 million of goodwill in connection with our acquisition of Terralink International Limited ("Terralink") and $1.7 million of goodwill in connection with an acquisition that was not significant, both within our D&A reporting unit, for the three months ended March 31, 2014. See Note 13 - Acquisitions for additional information. |
Other_Intangible_Assets_Net
Other Intangible Assets, Net | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Other Intangible Assets, Net | ' | |||||||||||||||||||||||
Other Intangible Assets, net | ||||||||||||||||||||||||
Other intangible assets consist of the following: | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in thousands) | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | ||||||||||||||||||
Customer lists | $ | 390,566 | $ | (169,292 | ) | $ | 221,274 | $ | 315,639 | $ | (162,278 | ) | $ | 153,361 | ||||||||||
Non-compete agreements | 9,142 | (6,869 | ) | 2,273 | 9,150 | (6,659 | ) | 2,491 | ||||||||||||||||
Trade names and licenses | 94,611 | (12,223 | ) | 82,388 | 31,108 | (11,152 | ) | 19,956 | ||||||||||||||||
$ | 494,319 | $ | (188,384 | ) | $ | 305,935 | $ | 355,897 | $ | (180,089 | ) | $ | 175,808 | |||||||||||
Amortization expense for other intangible assets was $7.6 million and $8.5 million for the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||||||||||||||
Estimated amortization expense for other intangible assets anticipated for the next five years is as follows: | ||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Remainder of 2014 | $ | 33,653 | ||||||||||||||||||||||
2015 | 40,083 | |||||||||||||||||||||||
2016 | 33,666 | |||||||||||||||||||||||
2017 | 32,792 | |||||||||||||||||||||||
2018 | 31,728 | |||||||||||||||||||||||
Thereafter | 134,013 | |||||||||||||||||||||||
$ | 305,935 | |||||||||||||||||||||||
LongTerm_Debt
Long-Term Debt | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
Long-Term Debt | |||||||||
Our long-term debt consists of the following: | |||||||||
March 31, | December 31, | ||||||||
(in thousands) | 2014 | 2013 | |||||||
Acquisition-related note: | |||||||||
Non-interest bearing acquisition note due in $5.0 million installment on March 2016 | $ | 4,408 | $ | 9,276 | |||||
Notes: | |||||||||
7.25% senior notes due June 2021 | 393,000 | 393,000 | |||||||
5.7% senior debentures due August 2014 | 825 | 825 | |||||||
7.55% senior debentures due April 2028 | 59,645 | 59,645 | |||||||
Bank debt: | |||||||||
Revolving line of credit borrowings due March 2019, weighted-average interest rate of 3.35% at March 31, 2014 | 215,000 | — | |||||||
Term loan facility borrowings due March 2019, weighted-average interest rate of 2.80% at March 31, 2014 | 850,000 | — | |||||||
Revolving line of credit borrowings due May 2016, weighted-average interest rate of 1.9% at December 31, 2013, extinguished in March 2014 | — | 100,000 | |||||||
Term loan facility borrowings through May 2016, weighted-average interest rate of 2.9% at December 31, 2013, extinguished in March 2014 | — | 275,625 | |||||||
Other debt: | |||||||||
Various interest rates with maturities through 2017 | 1,671 | 1,559 | |||||||
Total long-term debt | 1,524,549 | 839,930 | |||||||
Less current portion of long-term debt | 43,874 | 28,154 | |||||||
Long-term debt, net of current portion | $ | 1,480,675 | $ | 811,776 | |||||
Senior Notes | |||||||||
On May 20, 2011, we issued $400.0 million aggregate principal amount of 7.25% senior notes due 2021 (the "Notes"). 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 (defined below). Separate financial statements for each guarantor subsidiary are not included in this filing because each guarantor subsidiary is 100% owned and the guarantees of the Notes are joint and several and full and unconditional. The combined accounts of the guarantor subsidiaries, the combined accounts of the non-guarantor subsidiaries, the combined consolidating adjustments and eliminations and the consolidated accounts for CoreLogic, Inc. (the "Parent") for the dates and periods indicated are included in Note 17 - Guarantor Subsidiaries. The guarantees are subject to release under certain customary circumstances. The indenture governing the Notes provides that the guarantees may be automatically and unconditionally released only 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. There are no significant restrictions on the ability of the Parent or any guarantor subsidiary to obtain funds from its subsidiaries by dividend or loan. The Notes bear interest at 7.25% per annum and mature on June 1, 2021. Interest is payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2011. As of March 31, 2014, we were in compliance with all of our covenants under the indenture. | |||||||||
Credit Agreement | |||||||||
On March 25, 2014, we entered into a senior secured credit facility (the "Credit Agreement") with Bank of America, N.A. as administrative agent and other financial institutions, which replaced our previous senior secured credit facility that was entered into on May 23, 2011 ("Terminated Credit Agreement"). The Credit Agreement provides for a $850.0 million five-year term loan facility (the "Term Facility") and a $550.0 million revolving credit facility (the "Revolving Facility"). The Revolving Facility includes a $100.0 million multicurrency revolving sub-facility and a $50.0 million letter of credit sub-facility. The Credit Agreement also provides for the ability to increase the Term Facility and Revolving Facility by up to $500.0 million in the aggregate. As of March 31, 2014, we were in compliance with all of our covenants under the Credit Agreement. | |||||||||
As of March 31, 2014 and December 31, 2013, we have recorded $12.6 million and $4.6 million, respectively, of accrued interest expense. | |||||||||
Debt Issuance Costs | |||||||||
In connection with entering into the Credit Agreement, we incurred approximately $14.0 million of debt issuance costs of which $0.3 million was recorded as interest expense in the accompanying condensed consolidated statements of operations for the three months ended March 31, 2014. We capitalized the remaining $13.7 million of debt issuance costs, within other assets in the accompanying condensed consolidated balance sheet as of March 31, 2014 and will amortize these costs over the term of the Credit Agreement. As of March 31, 2014, we had unamortized costs of $5.4 million related to previously recorded debt issuance costs, which we will amortize over the term of the Credit Agreement. In connection with entering into the Credit Agreement, during the three months ended March 31, 2014, we wrote-off $0.6 million of unamortized debt issuance costs. | |||||||||
Acquisition-Related Notes | |||||||||
In March 2011, we entered into a settlement services joint venture with Speedy Title & Appraisal Review Services LLC ("STARS"). Our initial investment in STARS was $20.0 million and we also issued a note payable for an additional $15.0 million of consideration, which is non-interest bearing and due in three equal installments. As of March 31, 2014, the discounted balance outstanding under the note was $4.4 million. | |||||||||
Interest Rate Swaps | |||||||||
In March 2014, the amortizing interest rate swap transactions ("Swaps") previously entered in June 2011 were terminated with a realized loss of $4.1 million for the three months ended March 31, 2014 upon full repayment of the underlying debt associated with the Terminated Credit Agreement. | |||||||||
Unrealized losses of less than $0.1 million (net of less than $0.1 million in deferred taxes) and unrealized gains of $0.6 million (net of $0.3 million in deferred taxes) were recognized in other comprehensive income/(loss) related to the Swaps for the three months ended March 31, 2014 and 2013, respectively. |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
The effective income tax rate (provision or benefit) for income taxes as a percentage of income from continuing operations before equity in earnings of affiliates and income taxes) was a 5.7% benefit and a 38.4% expense for the three months ended March 31, 2014 and 2013, respectively. The change in the effective income tax rates was primarily attributable to foreign rate differentials in jurisdictions with tax rates lower than the US as well as valuation allowance recorded against certain foreign losses. | |
Income taxes included in equity in earnings of affiliates were $1.5 million and $5.4 million for the three months ended March 31, 2014 and 2013, respectively. For the purpose of segment reporting, these amounts are not reflected at the segment level but are recorded within corporate. | |
During the three months ended March 31, 2014, the Company effectively settled its 2007-2010 CoreLogic US, Inc. and Subsidiaries Internal Revenue Service ("IRS") exam, which resulted in a reversal of approximately $0.3 million of unrecognized tax benefit. It is reasonably possible that the amount of the unrecognized benefit with respect to certain unrecognized tax positions could significantly increase or decrease within the next 12 months. These changes may be the result of items such as ongoing audits, competent authority proceedings related to transfer pricing, or the expiration of federal and state statutes of limitation for the assessment of taxes. The Company is currently under examination for tax years 2006 through 2011 by the U.S. and various state taxing authorities. |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Earnings Per Share | ' | |||||||
Earnings Per Share | ||||||||
The following is a reconciliation of net income per share, using the treasury-stock method: | ||||||||
For the Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands, except per share amounts) | ||||||||
Numerator for basic and diluted net income/(loss) per share: | ||||||||
Net (loss)/income from continuing operations | $ | (3,875 | ) | $ | 31,615 | |||
Income from discontinued operations, net of tax | 1,083 | 3,697 | ||||||
Loss from sale of discontinued operations, net of tax | — | (1,744 | ) | |||||
Net (loss)/income attributable to CoreLogic | $ | (2,792 | ) | $ | 33,568 | |||
Denominator: | ||||||||
Weighted-average shares for basic income/(loss) per share | 91,433 | 97,113 | ||||||
Dilutive effect of stock options and restricted stock units | — | 1,943 | ||||||
Weighted-average shares for diluted income/(loss) per share | 91,433 | 99,056 | ||||||
Income/(loss) per share | ||||||||
Basic: | ||||||||
Net (loss)/income from continuing operations | $ | (0.04 | ) | $ | 0.33 | |||
Income from discontinued operations, net of tax | 0.01 | 0.04 | ||||||
Loss from sale of discontinued operations, net of tax | — | (0.02 | ) | |||||
Net (loss)/income attributable to CoreLogic | $ | (0.03 | ) | $ | 0.35 | |||
Diluted: | ||||||||
Net (loss)/income from continuing operations | $ | (0.04 | ) | $ | 0.32 | |||
Income from discontinued operations, net of tax | 0.01 | 0.04 | ||||||
Loss from sale of discontinued operations, net of tax | — | (0.02 | ) | |||||
Net (loss)/income attributable to CoreLogic | $ | (0.03 | ) | $ | 0.34 | |||
For the three months ended March 31, 2013, 0.3 million stock options were excluded from the weighted-average diluted common shares outstanding due to their antidilutive effect. There was no dilutive effect for the three months ended March 31, 2014. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
Fair value is the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We utilize market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable. | |||||||||||||||||
The market approach is applied for recurring fair value measurements and endeavors to utilize the best available information. Accordingly, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Fair value balances are classified based on the observability of those inputs. | |||||||||||||||||
A fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). Level 2 measurements utilize observable inputs in markets other than active markets. | |||||||||||||||||
In estimating the fair value of the financial instruments presented, we used the following methods and assumptions: | |||||||||||||||||
Cash and cash equivalents | |||||||||||||||||
For cash and cash equivalents, we believe that the carrying value is a reasonable estimate of fair value due to the short-term nature of the instruments. | |||||||||||||||||
Restricted cash | |||||||||||||||||
Restricted cash is comprised of certificates of deposit that are pledged for various letters of credit secured by the Company. We deem the carrying value to be a reasonable estimate of fair value due to the nature of these instruments. | |||||||||||||||||
Marketable securities | |||||||||||||||||
Equity securities are classified as available-for-sale securities and are valued using quoted prices in active markets. | |||||||||||||||||
Long-term debt | |||||||||||||||||
The fair value of long-term debt was estimated based on the current rates available to us for similar debt of the same remaining maturities and consideration of our default and credit risk. | |||||||||||||||||
Interest rate swap agreements | |||||||||||||||||
The fair value of the interest rate swap agreements were estimated based on market value quotes received from the counter parties to the agreements. | |||||||||||||||||
The fair values of our financial instruments as of March 31, 2014 are presented in the following table: | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
(in thousands) | Level 1 | Level 2 | Fair Value | ||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 122,906 | $ | — | $ | 122,906 | |||||||||||
Restricted cash | — | 12,630 | 12,630 | ||||||||||||||
Equity securities | 22,334 | — | 22,334 | ||||||||||||||
Total Financial Assets | $ | 145,240 | $ | 12,630 | $ | 157,870 | |||||||||||
Financial Liabilities: | |||||||||||||||||
Total debt | — | 1,544,009 | 1,544,009 | ||||||||||||||
Total Financial Liabilities | $ | — | $ | 1,544,009 | $ | 1,544,009 | |||||||||||
The fair values of our financial instruments as of December 31, 2013 are presented in the following table: | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
(in thousands) | Level 1 | Level 2 | Fair Value | ||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 134,741 | $ | — | $ | 134,741 | |||||||||||
Restricted cash | — | 12,050 | 12,050 | ||||||||||||||
Equity securities | 22,220 | — | 22,220 | ||||||||||||||
Total Financial Assets | $ | 156,961 | $ | 12,050 | $ | 169,011 | |||||||||||
Financial Liabilities: | |||||||||||||||||
Total debt | — | 869,232 | 869,232 | ||||||||||||||
Total Financial Liabilities | $ | — | $ | 869,232 | $ | 869,232 | |||||||||||
Derivatives: | |||||||||||||||||
Liability for interest rate swap agreements | $ | — | $ | 4,020 | $ | 4,020 | |||||||||||
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of March 31, 2014 and impairment losses for the three months ended March 31, 2014: | |||||||||||||||||
As of March 31, 2014 | |||||||||||||||||
Fair Value Measurements Using | Impairment Losses | ||||||||||||||||
Level 1 | Level 2 | Level 3 | For the three months ended March 31, 2014 | ||||||||||||||
Property and equipment, net | $ | — | $ | — | $ | — | $ | 148 | |||||||||
Investment in affiliates, net | — | — | 30 | 360 | |||||||||||||
$ | — | $ | — | $ | 30 | $ | 508 | ||||||||||
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of March 31, 2013 and impairment losses for the three months ended March 31, 2013: | |||||||||||||||||
As of March 31, 2013 | |||||||||||||||||
Fair Value Measurements Using | Impairment Losses | ||||||||||||||||
Level 1 | Level 2 | Level 3 | For the three months ended March 31, 2013 | ||||||||||||||
Property and equipment, net | $ | — | $ | — | $ | — | $ | 844 | |||||||||
We recorded non-cash impairment charges of $0.1 million and $0.8 million for the three months ended March 31, 2014 and 2013, respectively, in our property and equipment, net primarily related to internally developed software. Finally, we recorded non-cash impairment charges of $0.4 million for the three months ended March 31, 2014 in our investment in affiliates, net due to other than temporary loss in value from the absence of an ability to recover the carrying amount of the investment. |
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Stock-Based Compensation | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
We currently issue equity awards under the CoreLogic, Inc. 2011 Performance Incentive Plan (the “Plan”) which was approved by our stockholders at our Annual Meeting held on May 19, 2011. The Plan permits the grant of restricted stock units ("RSUs"), performance-based restricted stock units ("PBRSUs"), stock options, stock appreciation rights, stock bonuses and other forms of awards granted or denominated in our common stock, as well as cash bonus awards. The Plan was adopted, in part, to make an additional 18,000,000 shares of the Company's common stock available for award grants, so we have sufficient authority and flexibility to adequately provide for future incentives. Prior to the approval of the Plan, we issued share-based awards under the CoreLogic, Inc. 2006 Incentive Plan (the “2006 Plan”). | |||||||||||||
We primarily utilize RSUs, PBRSUs and stock options as our share-based compensation instruments for employees and directors. The fair value of any share-based compensation instrument grant is based on the market value of our shares on the date of grant and is recognized as compensation expense over its vesting period. | |||||||||||||
Restricted Stock Units | |||||||||||||
For the three months ended March 31, 2014 and 2013, we awarded 657,932 and 593,164 RSUs, respectively, with an estimated grant date fair value of $20.2 million and $15.5 million, respectively. The RSU awards will vest ratably over three years. | |||||||||||||
RSU activity for the three months ended March 31, 2014 is as follows: | |||||||||||||
Number of | Weighted-Average | ||||||||||||
Grant-Date | |||||||||||||
(in thousands, except weighted-average fair value prices) | Shares | Fair Value | |||||||||||
Unvested RSUs outstanding at December 31, 2013 | 1,466 | $ | 22.13 | ||||||||||
RSUs granted | 658 | $ | 30.72 | ||||||||||
RSUs vested | (497 | ) | $ | 20.11 | |||||||||
RSUs forfeited | (29 | ) | $ | 22.45 | |||||||||
Unvested RSUs outstanding at March 31, 2014 | 1,598 | $ | 26.28 | ||||||||||
As of March 31, 2014, there was $33.1 million of total unrecognized compensation cost related to unvested RSUs that is expected to be recognized over a weighted-average period of 2.4 years. The fair value of RSUs is based on the market value of the Company’s common stock on the date of grant. | |||||||||||||
Performance-Based Restricted Stock Units | |||||||||||||
For the three months ended March 31, 2014 and 2013, we awarded 330,075 and 390,091 PBRSUs, respectively, with an estimated grant date fair value of $10.4 million and $10.2 million, respectively. These awards are subject to service-based, performance-based and market-based vesting. The performance period for the PBRSUs awarded during the three months ended March 31, 2014 is from January 1, 2014 to December 31, 2016 and the performance metric is adjusted earnings per share and market-based conditions. Subject to satisfaction of the performance criteria, the 2014 awards will vest on December 31, 2016. | |||||||||||||
The performance period for the PBRSUs awarded during the three months ended March 31, 2013 is from January 1, 2013 to December 31, 2015 and the performance metric is adjusted earnings per share and market-based conditions. Subject to satisfaction of the performance criteria, the 2013 awards will vest on December 31, 2015. The fair values of the 2013 awards were estimated using Monte-Carlo simulation with the following weighted-average assumptions. | |||||||||||||
The fair values of the 2014 and 2013 awards were estimated using Monte-Carlo simulation with the following weighted-average assumptions. | |||||||||||||
For the Three Months Ended March 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Expected dividend yield | — | % | — | % | |||||||||
Risk-free interest rate (1) | 0.7 | % | 0.35 | % | |||||||||
Expected volatility (2) | 27.87 | % | 30.59 | % | |||||||||
Average total shareholder return (2) | (0.84 | )% | 8.21 | % | |||||||||
-1 | The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. | ||||||||||||
-2 | The expected volatility and average total shareholder return is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate based primarily on our and our peers' historical data. | ||||||||||||
PBRSU activity for the three months ended March 31, 2014, is as follows: | |||||||||||||
Number of | Weighted-Average | ||||||||||||
Grant-Date | |||||||||||||
(in thousands, except weighted-average fair value prices) | Shares | Fair Value | |||||||||||
Unvested PBRSUs outstanding at December 31, 2013 | 1,247 | $ | 18.52 | ||||||||||
PBRSUs granted | 330 | $ | 31.57 | ||||||||||
PBRSUs vested | (612 | ) | $ | 16.92 | |||||||||
PBRSUs forfeited | (11 | ) | $ | 19.81 | |||||||||
Unvested PBRSUs outstanding at March 31, 2014 | 954 | $ | 22.02 | ||||||||||
As of March 31, 2014, there was $16.4 million of total unrecognized compensation cost related to unvested PBRSUs that is expected to be recognized over a weighted-average period of 2.3 years. The fair value of PBRSUs is based on the market value of the Company's common stock on the date of grant. | |||||||||||||
Stock Options | |||||||||||||
In 2014 and 2013, we issued stock options as incentive compensation for certain key employees. The exercise price of each stock option is the closing market price of our common stock on the date of grant. The 2014 and 2013 options will vest in three equal annual installments on the first, second and third anniversaries of grant and expire ten years after the grant date. The fair values of these stock options were estimated using the Black-Scholes valuation model with the following weighted-average assumptions: | |||||||||||||
For the Three Months Ended | |||||||||||||
March 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Expected dividend yield | — | % | — | % | |||||||||
Risk-free interest rate (1) | 1.74 | % | 0.9 | % | |||||||||
Expected volatility (2) | 37.92 | % | 41.65 | % | |||||||||
Expected life (3) | 5.5 | 5.5 | |||||||||||
-1 | The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. | ||||||||||||
-2 | The expected volatility is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate based primarily on our and our peers' historical data. | ||||||||||||
-3 | The expected life is the period of time, on average, that participants are expected to hold their options before exercise based primarily on our historical data. | ||||||||||||
For the three months ended March 31, 2014 and 2013, we awarded 242,687 and 402,511 options, respectively, with an estimated fair value of $7.7 million and $10.5 million, respectively. Option activity for the three months ended March 31, 2014 is as follows: | |||||||||||||
(in thousands, except weighted-average price) | Number of | Weighted-Average | Weighted-Average | Aggregate | |||||||||
Shares | Exercise Price | Remaining | Intrinsic | ||||||||||
Contractual Term | Value | ||||||||||||
Options outstanding at December 31, 2013 | 2,663 | $ | 21.12 | ||||||||||
Options granted | 243 | $ | 31.59 | ||||||||||
Options exercised | (70 | ) | $ | 17.5 | |||||||||
Options canceled | (16 | ) | $ | 20.66 | |||||||||
Options outstanding at March 31, 2014 | 2,820 | $ | 22.11 | 5.5 | $ | 22,775 | |||||||
Options vested and expected to vest at March 31, 2014 | 2,771 | $ | 22.02 | 5.4 | $ | 22,600 | |||||||
Options exercisable at March 31, 2014 | 1,914 | $ | 21.37 | 4.2 | $ | 16,590 | |||||||
As of March 31, 2014, there was $6.2 million of total unrecognized compensation cost related to unvested stock options that is expected to be recognized over a weighted-average period of 2.2 years. | |||||||||||||
The intrinsic value of options exercised was $1.0 million and $1.5 million for the three months ended March 31, 2014 and 2013, respectively. This intrinsic value represents the difference between the fair market value of the Company’s common stock on the date of exercise and the exercise price of each option. | |||||||||||||
Employee Stock Purchase Plan | |||||||||||||
The employee stock purchase plan allows eligible employees to purchase our common stock at 85.0% of the lesser of the closing price on the first day or the last day of each quarter. Our employee stock purchase plan was approved by our stockholders at our 2012 annual meeting of stockholders and the first offering period commenced in October 2012. We recognized an expense for the amount equal to the discount during the last offering period. | |||||||||||||
The following table sets forth the stock-based compensation expense recognized for the three months ended March 31, 2014 and 2013. | |||||||||||||
For the Three Months Ended | |||||||||||||
March 31, | |||||||||||||
(in thousands) | 2014 | 2013 | |||||||||||
RSUs | $ | 5,473 | $ | 5,100 | |||||||||
PBRSUs | 1,243 | 2,155 | |||||||||||
Stock options | 1,105 | 683 | |||||||||||
Employee stock purchase plan | 265 | 204 | |||||||||||
$ | 8,086 | $ | 8,142 | ||||||||||
The above share-based compensation expense includes $0.3 million and $0.1 million within cost of services in the accompanying condensed consolidated statements of operations for the three months ended March 31, 2014 and 2013, respectively. It also includes $0.1 million and less than $0.1 million of share-based compensation expense for the three months ended March 31, 2014 and 2013, respectively, reported within income from discontinued operations in the accompanying condensed consolidated statements of operations. |
Litigation_and_Regulatory_Cont
Litigation and Regulatory Contingencies | 3 Months Ended |
Mar. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Litigation and Regulatory Contingencies | ' |
Litigation and Regulatory Contingencies | |
We have been named in various lawsuits. Also, we may from time to time be subject to audit or investigation by governmental agencies. Currently, governmental agencies are auditing or investigating certain of our operations. | |
With respect to matters where we have determined that a loss is both probable and reasonably estimable, we have recorded a liability representing our best estimate of the financial exposure based on known facts. While the ultimate disposition of each such audit, investigation or lawsuit is not yet determinable, we do not believe that the ultimate resolution of these matters, either individually or in the aggregate, will have a material adverse effect on our financial condition, results of operations or cash flows. In addition, we do not believe there is a reasonable possibility that a material loss exceeding amounts already accrued may have been incurred. We record expenses for legal fees as incurred. | |
FDIC | |
On May 9, 2011, the Federal Deposit Insurance Corporation (the “FDIC”), as Receiver of Washington Mutual Bank (“WaMu”), filed a complaint in the United States District Court for the Central District of California (the “Court”) against CoreLogic Valuation Services, LLC (“CVS”), as successor to eAppraiseIT, LLC (“eAppraiseIT”) and several of its current and former affiliates. | |
The FDIC complaint alleged that eAppraiseIT was grossly negligent and breached its contract with WaMu in the provision of appraisal services in 2006 and 2007 relating to 194 residential mortgage loans. On November 14, 2011, the Court granted the defendants' motion to dismiss the FDIC's gross negligence, alter ego, single business enterprise and joint venture claims, and a portion of the breach of contract claim. On November 30, 2011, the FDIC filed its first amended complaint, alleging only breach of contract claims and naming only CVS and its parent CoreLogic Real Estate Solutions, LLC f/k/a First American Real Estate Solutions, LLC as defendants. The amended complaint sought to recover losses of at least $129.0 million that the FDIC alleges WaMu suffered on loans allegedly related to these appraisal services. On February 6, 2012, the Court granted the defendants' motion to dismiss the FDIC's $16.0 million breach of contract claim related to 26 appraisal services allegedly provided before the effective date of the WaMu - eAppraiseIT Agreement. On February 16, 2012, the FDIC filed a second amended complaint reasserting that claim. On April 25, 2012, the court granted the defendants' motion to dismiss that $16.0 million claim with prejudice. On December 4, 2012, the FDIC filed its third amended complaint further reducing the total number of transactions at issue to 160 and reducing the amount of its purported losses to at least $108.0 million. On June 20, 2013, the court dismissed 14 additional transactions with prejudice pursuant to a stipulation between the parties. As a result, the number of transactions at issue has been reduced to 146 and the amount of the FDIC's purported losses has been reduced to at least $98.9 million. | |
The defendants intend to defend against the remaining claims vigorously; however, they may not be successful. At this time, we cannot predict the ultimate outcome of this claim or the potential range of damages, if any. | |
RESPA Class Action | |
On February 8, 2008, a purported class action was filed in the United States District Court for the Northern District of California, San Jose Division, against WaMu and eAppraiseIT alleging breach of contract, unjust enrichment, and violations of the Real Estate Settlement Procedures Act (“RESPA”), the California Unfair Competition Law and the California Consumers Legal Remedies Act. The complaint alleged a conspiracy between WaMu and eAppraiseIT to allow WaMu to direct appraisers to artificially inflate appraisals in order to qualify higher value loans that WaMu could then sell in the secondary market. Plaintiffs subsequently voluntarily dismissed WaMu on March 9, 2009. On August 30, 2009, the court dismissed all claims against eAppraiseIT except the RESPA claim. | |
On July 2, 2010, the court denied plaintiff's first motion for class certification. On November 19, 2010, the plaintiffs filed a renewed motion for class certification. On April 25, 2012, the court granted plaintiffs' renewed motion and certified a nationwide class of all persons who, on or after June 1, 2006, received home loans from WaMu in connection with appraisals that were obtained through eAppraiseIT. On July 12, 2012, the Ninth Circuit Court of Appeals declined to review the class certification order. | |
CVS, as the successor to eAppraiseIT, intends to defend against this claim vigorously; however, it may not be successful. At this time we cannot predict the ultimate outcome of this claim or the potential range of damages, if any. | |
Separation | |
Following the spin-off of our financial services businesses into a new, publicly-traded, New York Stock Exchange-listed company called First American Financial Corporation (“FAFC”) in June 2010 (the “Separation”), we are responsible for a portion of FAFC's contingent and other corporate liabilities. In the Separation and Distribution Agreement we entered into in connection with the Separation, we agreed with FAFC to share equally in the cost of resolution of a small number of corporate-level lawsuits, including certain consolidated securities litigation matters from which we have since been dropped. There were no liabilities incurred in connection with the consolidated securities matters. Responsibility to manage each case has been assigned to either FAFC or us, with the managing party required to update the other party regularly and consult with the other party prior to certain important decisions, such as settlement. The managing party will also have primary responsibility for determining the ultimate total liability, if any, related to the applicable case. We will record our share of any such liability when the responsible party determines a reserve is necessary in accordance with GAAP. At March 31, 2014, no reserves were considered necessary. | |
In addition, the Separation and Distribution Agreement provides for cross-indemnities principally designed to place financial responsibility for the obligations and liabilities of our predecessor, The First American Corporation's ("FAC") financial services business with FAFC and financial responsibility for the obligations and liabilities of FAC's information solutions business with us. Specifically, each party will, and will cause its subsidiaries and affiliates to, indemnify, defend and hold harmless the other party, its respective affiliates and subsidiaries and each of its respective officers, directors, employees and agents for any losses arising out of or otherwise in connection with the liabilities each such party assumed or retained pursuant to the Separation and Distribution Agreement; and any breach by such party of the Separation and Distribution Agreement. |
Acquisitions
Acquisitions | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Acquisitions | ' | |||||||
Acquisitions | ||||||||
In March 2014, we completed the acquisition of Marshall & Swift/Boeckh ("MSB") and DataQuick Information Systems ("DataQuick"). In addition, we acquired the assets of the credit, flood services and automated valuation model operations of DataQuick Lending Solutions and certain intellectual property assets of Decision Insight Information Group S.à r.l. The total consideration paid in connection with the MSB/DataQuick acquisition was approximately $650.1 million in cash, which was funded through borrowings. The acquisition of MSB/DataQuick significantly expands our footprint in property and casualty insurance and adds additional scale to our existing property data and analytics business, which is a contributing factor to the recording of goodwill. The operations of MSB's and DataQuick's data licensing and analytics units are reported within our D&A segment and DataQuick's flood zone determination and credit servicing operations are reported within our TPS segment. The purchase price was allocated to the assets acquired and liabilities assumed using a variety of valuation techniques including discounted cash flow analysis, which included significant unobservable inputs. Any excess of the purchase price over the fair value of identified assets acquired and liabilities assumed is recognized as goodwill. The purchase price allocation is subject to change based on our final determination of fair value. The preliminary allocation of the purchase price is as follows: | ||||||||
Purchase Price | ||||||||
Cash and cash equivalents | $ | 36 | ||||||
Accounts receivable | 9,227 | |||||||
Prepaid expenses and other current assets | 2,047 | |||||||
Deferred income tax assets, current | 1,848 | |||||||
Property and equipment | 177,311 | |||||||
Goodwill (1) | 363,295 | |||||||
Other intangible assets | 129,400 | |||||||
Investment in affiliates | 18,300 | |||||||
Total assets acquired | $ | 701,464 | ||||||
Accounts payable and accrued expenses | 3,446 | |||||||
Income taxes payable | 31 | |||||||
Deferred revenue, current | 22,403 | |||||||
Deferred revenue, net of current | 1,663 | |||||||
Deferred income tax liabilities, long term | 23,821 | |||||||
Net assets acquired | $ | 650,100 | ||||||
-1 | Goodwill of $363.3 million includes $133.6 million of deductible basis for tax purposes. | |||||||
We reported revenues totaling approximately $1.5 million from the MSB/DataQuick acquisition from the acquisition date of March 25, 2014 through March 31, 2014. The financial information in the table below summarizes the combined results of operations of MSB/DataQuick and us on a pro forma basis as though the companies had been combined as of the beginning of the period presented. The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of each of the periods presented. The pro forma financial information for all periods presented also includes elimination of intercompany revenue, the impact of fair value adjustments to deferred revenue, amortization expense from acquired intangible assets, adjustments to interest expense and related tax effects. | ||||||||
The pro forma financial information for the three months ended March 31, 2014 and 2013 combines our results of operations for the periods presented. | ||||||||
Pro Forma | ||||||||
2014 | 2013 | |||||||
Net revenues | $ | 332,801 | $ | 356,925 | ||||
Net income | $ | 6,325 | $ | 23,815 | ||||
In January 2014, we completed our acquisition of Terralink for NZD$14.5 million, or $11.9 million, which is included as a component of our D&A reporting segment. The purchase price was allocated to the assets acquired and liabilities assumed using a variety of valuation techniques including discounted cash flow analysis, which included significant unobservables. We recorded preliminary property and equipment of $2.1 million with an estimated average life of 5 years, preliminary customer lists of $1.6 million with an estimated average life of 15 years, preliminary trade names of $0.2 million with an estimated average life of 12 years, preliminary capitalized data and database costs of $6.0 million with an estimated average life of 15 years and preliminary goodwill of $2.1 million, which is fully deductible for tax purposes. The allocation of purchase price is subject to change based on our final determination of fair value. The business combination did not have a material impact on our consolidated financial statements. | ||||||||
In December 2013, we completed our acquisition of EQECAT for $22.2 million, including working capital adjustments. EQECAT is included as a component of the D&A segment. The purchase price was allocated to the assets acquired and liabilities assumed using a variety of valuation techniques including discounted cash flow analysis, which included significant unobservables. We recorded $3.9 million of customer lists with an estimated average life of 14 years, $0.6 million of trade names with an estimated average life of 10 years and goodwill of $15.3 million. The business combination did not have a material impact on our consolidated financial statements. | ||||||||
For the three months ended March 31, 2014, we incurred $8.3 million of acquisition-related costs within selling, general and administrative expenses on our condensed consolidated statements of operations. |
Redeemable_Noncontrolling_Inte
Redeemable Noncontrolling Interest Redeemable Noncontrolling Interest (Notes) | 3 Months Ended |
Mar. 31, 2014 | |
Noncontrolling Interest [Abstract] | ' |
Redeemable Noncontrolling Interest [Text Block] | ' |
Redeemable Noncontrolling Interest | |
Noncontrolling interests that are redeemable at the option of the holder are classified as redeemable noncontrolling interests in the mezzanine section of our condensed consolidated balance sheet between liabilities and stockholders’ equity. Redeemable noncontrolling interests are reported at their estimated redemption value in each reporting period, but not less than their initial fair value. Any adjustments to the redemption value impacts retained earnings. | |
In September 2013, we acquired an additional 10% interest in Property IQ Ltd. ("PIQ") for NZD$3.3 million, or $2.6 million, resulting in a 60.0% controlling interest. In connection with the acquisition, the seller has the right to sell their remaining noncontrolling shares in PIQ to us (the "put") and we have the right to purchase the remaining noncontrolling interest in PIQ at fair value (the "call"). As the call and put do not represent separate assets or liabilities and the exercise of the put is outside of our control, the noncontrolling interest of NZD$13.2 million, or $10.2 million, was recorded on the date of acquisition as redeemable noncontrolling interest in the accompanying condensed consolidated balance sheet. For the three months ended March 31, 2014, we recognized less than $0.3 million of net income in connection with the redeemable noncontrolling interest. |
Discontinued_Operations
Discontinued Operations | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||||||||||
Discontinued Operations | ' | ||||||||||||||||||||
Discontinued Operations | |||||||||||||||||||||
For the three months ended March 31, 2013, we recorded a $1.7 million loss from the sale of discontinued operations, net, which was primarily related to the sale and exit of a product line within the Asset Management and Processing Solutions ("AMPS") businesses in the prior year. | |||||||||||||||||||||
In December 2013, we concluded the businesses comprising the AMPS segment were not core to our long term strategy and thus we would actively pursue the sale of the AMPS reporting segment. As part of the process of marketing the sale of these businesses, we developed our long-term projections and obtained indicative fair market values from potential participants. The level of indicative values was below the net book value of the businesses being marketed; therefore, we recorded a pre-tax non-cash impairment charge related to goodwill of $51.8 million for the year ended December 31, 2013. During the three months ended March 31, 2014, we updated our long-term projections and assessed whether events or circumstances occurred that potentially indicate that the carrying amounts of these assets may not be recoverable. The marketing process for AMPS is on-going and there were no indicators of additional impairment as of March 31, 2014. In the future, there could be triggering events that could require future fair value assessments and could lead to additional impairments. | |||||||||||||||||||||
Summarized below are certain assets and liabilities classified as discontinued operations as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||
(in thousands) | D&A | TPS | |||||||||||||||||||
As of March 31, 2014 | Marketing | Consumer | Appraisal | AMPS | Total | ||||||||||||||||
Accounts receivable | $ | — | $ | — | $ | — | $ | 29,460 | $ | 29,460 | |||||||||||
Other current assets | 177 | 149 | 200 | 3,082 | 3,608 | ||||||||||||||||
Property and equipment, net | — | — | — | 3,160 | 3,160 | ||||||||||||||||
Goodwill and other identifiable intangible assets, net | — | — | — | 97,577 | 97,577 | ||||||||||||||||
Other assets | — | — | — | 510 | 510 | ||||||||||||||||
Total assets | $ | 177 | $ | 149 | $ | 200 | $ | 133,789 | $ | 134,315 | |||||||||||
Accounts payable and accrued expenses | $ | 397 | $ | — | $ | 3,519 | $ | 9,290 | $ | 13,206 | |||||||||||
Other liabilities | 222 | 88 | 559 | 15,344 | 16,213 | ||||||||||||||||
Total liabilities | $ | 619 | $ | 88 | $ | 4,078 | $ | 24,634 | $ | 29,419 | |||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Accounts receivable | $ | — | $ | — | $ | — | $ | 32,811 | $ | 32,811 | |||||||||||
Other current assets | 177 | 149 | 200 | 3,052 | 3,578 | ||||||||||||||||
Property and equipment, net | — | — | — | 3,594 | 3,594 | ||||||||||||||||
Goodwill and other identifiable intangible assets, net | — | — | — | 97,577 | 97,577 | ||||||||||||||||
Other assets | — | — | — | 463 | 463 | ||||||||||||||||
Total assets | $ | 177 | $ | 149 | $ | 200 | $ | 137,497 | $ | 138,023 | |||||||||||
Accounts payable and accrued expenses | $ | 676 | $ | — | $ | 3,127 | $ | 9,693 | $ | 13,496 | |||||||||||
Other liabilities | 259 | 88 | 568 | 15,898 | 16,813 | ||||||||||||||||
Total liabilities | $ | 935 | $ | 88 | $ | 3,695 | $ | 25,591 | $ | 30,309 | |||||||||||
Summarized below are the components of our income/(loss) from discontinued operations for three months ended March 31, 2014 and 2013: | |||||||||||||||||||||
(in thousands) | D&A | TPS | |||||||||||||||||||
For the three months ended March 31, 2014 | Marketing | Consumer | Appraisal | AMPS | Total | ||||||||||||||||
Operating revenue | $ | — | $ | — | $ | — | $ | 42,792 | $ | 42,792 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (250 | ) | — | (600 | ) | 2,617 | 1,767 | ||||||||||||||
Income tax (benefit)/expense | (96 | ) | — | (229 | ) | 1,009 | 684 | ||||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (154 | ) | $ | — | $ | (371 | ) | $ | 1,608 | $ | 1,083 | |||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||
Operating revenue | $ | — | $ | — | $ | — | $ | 65,868 | $ | 65,868 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (110 | ) | 196 | (1,148 | ) | 7,981 | 6,919 | ||||||||||||||
Income tax (benefit)/expense | (42 | ) | 75 | (439 | ) | 3,628 | 3,222 | ||||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (68 | ) | $ | 121 | $ | (709 | ) | $ | 4,353 | $ | 3,697 | |||||||||
Segment_Information
Segment Information | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||||
Segment Information | |||||||||||||||||||||||||
We have organized our reportable segments into the following two segments: D&A and TPS. | |||||||||||||||||||||||||
Data & Analytics. Our D&A segment owns or licenses data assets including loan information, criminal and eviction records, employment verification, property characteristic information, property risk and replacement cost, and information on mortgage-backed securities. We both license our data directly to our customers and provide our customers with analytical products for risk management, insurance underwriting, collateral assessment, loan quality reviews and fraud assessment. We are also a provider of geospatial proprietary software and databases combining geographic mapping and data. Our primary customers are commercial banks, mortgage lenders and brokers, investment banks, fixed-income investors, real estate agents, property and casualty insurance companies, title insurance companies and government-sponsored enterprises. | |||||||||||||||||||||||||
Our D&A segment includes intercompany revenues of $0.8 million and $3.5 million for the three months ended March 31, 2014 and 2013, respectively. The segment also includes intercompany expenses of $0.2 million and $1.4 million for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||
Technology and Processing Solutions. Our TPS segment provides property tax monitoring, flood zone certification and monitoring, credit services, mortgage loan administration and production services, lending solutions and mortgage-related business process outsourcing. The segment’s primary customers are large, national mortgage lenders and servicers, but we also serve regional mortgage lenders and brokers, credit unions, commercial banks, and government agencies. | |||||||||||||||||||||||||
Our TPS segment includes intercompany revenues of $0.7 million and $0.7 million for the three months ended March 31, 2014 and 2013, respectively. The segment also includes intercompany expenses of $0.7 million and $3.3 million for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||
Corporate consists primarily of investment gains and losses, corporate personnel and other expenses associated with our corporate functions and facilities, equity in earnings of affiliates, net of tax, and interest expense. | |||||||||||||||||||||||||
It is impracticable to disclose revenues from external customers for each product and service offered. | |||||||||||||||||||||||||
Selected financial information by reportable segment is as follows: | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
For the three months ended March 31, 2014 | Operating Revenues | Depreciation and Amortization | Operating Income/(Loss) | Equity in Earnings/(Loss) of Affiliates, Net of Tax | Net Income/(Loss) From Continuing Operations | Capital Expenditures | |||||||||||||||||||
D&A | $ | 142,533 | $ | 20,537 | $ | 16,674 | $ | (13 | ) | $ | 16,638 | $ | 12,622 | ||||||||||||
TPS | 169,309 | 5,968 | 23,730 | 3,976 | 27,572 | 2,654 | |||||||||||||||||||
Corporate | 58 | 2,934 | (26,751 | ) | (1,581 | ) | (47,821 | ) | 5,336 | ||||||||||||||||
Eliminations | (1,483 | ) | — | — | — | — | — | ||||||||||||||||||
Consolidated (excluding discontinued operations) | $ | 310,417 | $ | 29,439 | $ | 13,653 | $ | 2,382 | $ | (3,611 | ) | $ | 20,612 | ||||||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||||||
D&A | $ | 145,515 | $ | 19,519 | $ | 25,252 | $ | 637 | $ | 26,046 | $ | 13,160 | |||||||||||||
TPS | 189,901 | 6,703 | 49,856 | 13,447 | 63,173 | 4,248 | |||||||||||||||||||
Corporate | 167 | 7,919 | (27,773 | ) | (5,296 | ) | (57,630 | ) | 10,131 | ||||||||||||||||
Eliminations | (4,282 | ) | — | — | — | — | — | ||||||||||||||||||
Consolidated (excluding discontinued operations) | $ | 331,301 | $ | 34,141 | $ | 47,335 | $ | 8,788 | $ | 31,589 | $ | 27,539 | |||||||||||||
(in thousands) | As of | As of | |||||||||||||||||||||||
Assets | March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
D&A | $ | 2,013,302 | $ | 1,325,253 | |||||||||||||||||||||
TPS | 1,172,696 | 1,139,420 | |||||||||||||||||||||||
Corporate | 5,149,431 | 4,498,940 | |||||||||||||||||||||||
Eliminations | (4,749,726 | ) | (4,098,281 | ) | |||||||||||||||||||||
Consolidated (excluding discontinued operations) | $ | 3,585,703 | $ | 2,865,332 | |||||||||||||||||||||
Guarantor_Subsidiaries
Guarantor Subsidiaries | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Guarantor Subsidiaries [Abstract] | ' | ||||||||||||||||||||
Guarantor Subsidiaries | ' | ||||||||||||||||||||
Guarantor Subsidiaries | |||||||||||||||||||||
As discussed in Note 7 - 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 guarantees are subject to release under certain customary circumstances. The indenture governing the notes provides that the guarantees may be automatically and unconditionally released only 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 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 March 31, 2014 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 82,476 | $ | 8,794 | $ | 31,636 | $ | — | $ | 122,906 | |||||||||||
Accounts receivable | — | 167,842 | 26,182 | — | 194,024 | ||||||||||||||||
Other current assets | 64,902 | 248,677 | 4,183 | (2,231 | ) | 315,531 | |||||||||||||||
Property and equipment, net | 19,766 | 324,679 | 30,730 | — | 375,175 | ||||||||||||||||
Goodwill, net | — | 1,579,527 | 186,405 | — | 1,765,932 | ||||||||||||||||
Other identifiable intangible assets, net | 333 | 260,072 | 45,530 | — | 305,935 | ||||||||||||||||
Capitalized data and database cost, net | — | 250,294 | 88,689 | — | 338,983 | ||||||||||||||||
Investments in affiliates, net | — | 112,885 | — | — | 112,885 | ||||||||||||||||
Deferred income tax assets, long-term | 58,998 | — | — | (58,998 | ) | — | |||||||||||||||
Restricted cash | 11,035 | 121 | 1,474 | — | 12,630 | ||||||||||||||||
Investment in subsidiaries | 2,239,138 | — | — | (2,239,138 | ) | — | |||||||||||||||
Intercompany receivable | 164,495 | — | — | (164,495 | ) | — | |||||||||||||||
Other assets | 135,748 | 38,009 | 2,260 | — | 176,017 | ||||||||||||||||
Total assets | $ | 2,776,891 | $ | 2,990,900 | $ | 417,089 | $ | (2,464,862 | ) | $ | 3,720,018 | ||||||||||
Liabilities and equity: | |||||||||||||||||||||
Current liabilities | $ | 129,838 | $ | 388,407 | $ | 42,084 | $ | (2,231 | ) | $ | 558,098 | ||||||||||
Long-term debt, net of current | 1,475,145 | 5,530 | — | — | 1,480,675 | ||||||||||||||||
Deferred revenue, net of current | — | 363,844 | 8 | — | 363,852 | ||||||||||||||||
Deferred income taxes, long term | — | 134,800 | 24,303 | (58,998 | ) | 100,105 | |||||||||||||||
Intercompany payable | — | 87,936 | 76,559 | (164,495 | ) | — | |||||||||||||||
Other liabilities | 127,715 | 31,404 | 3,537 | — | 162,656 | ||||||||||||||||
Redeemable noncontrolling interest | — | — | 10,439 | — | 10,439 | ||||||||||||||||
Total CoreLogic stockholders' equity | 1,044,193 | 1,978,979 | 260,159 | (2,239,138 | ) | 1,044,193 | |||||||||||||||
Total liabilities and equity | $ | 2,776,891 | $ | 2,990,900 | $ | 417,089 | $ | (2,464,862 | ) | $ | 3,720,018 | ||||||||||
Condensed Balance Sheet | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 104,632 | $ | — | $ | 30,109 | $ | — | $ | 134,741 | |||||||||||
Accounts receivable | — | 174,518 | 21,764 | — | 196,282 | ||||||||||||||||
Other current assets | 57,368 | 249,680 | 3,543 | — | 310,591 | ||||||||||||||||
Property and equipment, net | 20,076 | 147,951 | 27,618 | — | 195,645 | ||||||||||||||||
Goodwill, net | — | 1,228,855 | 161,819 | — | 1,390,674 | ||||||||||||||||
Other identifiable intangible assets, net | 348 | 135,326 | 40,134 | — | 175,808 | ||||||||||||||||
Capitalized data and database cost, net | — | 249,472 | 80,716 | — | 330,188 | ||||||||||||||||
Investments in affiliates, net | — | 95,343 | — | — | 95,343 | ||||||||||||||||
Deferred income tax assets, long-term | 58,998 | — | — | (58,998 | ) | — | |||||||||||||||
Restricted cash | 10,335 | 306 | 1,409 | — | 12,050 | ||||||||||||||||
Investment in subsidiaries | 2,209,926 | — | — | (2,209,926 | ) | — | |||||||||||||||
Intercompany receivable | 63,647 | 555,216 | 9,170 | (628,033 | ) | — | |||||||||||||||
Other assets | 118,708 | 41,221 | 2,104 | — | 162,033 | ||||||||||||||||
Total assets | $ | 2,644,038 | $ | 2,877,888 | $ | 378,386 | $ | (2,896,957 | ) | $ | 3,003,355 | ||||||||||
Liabilities and equity: | |||||||||||||||||||||
Current liabilities | $ | 107,340 | $ | 397,481 | $ | 33,206 | $ | — | $ | 538,027 | |||||||||||
Long-term debt, net of current | 806,395 | 5,381 | — | — | 811,776 | ||||||||||||||||
Deferred revenue, net of current | — | 377,077 | 9 | — | 377,086 | ||||||||||||||||
Deferred income taxes, long term | — | 109,003 | 24,303 | (58,998 | ) | 74,308 | |||||||||||||||
Intercompany payable | 564,386 | — | 63,647 | (628,033 | ) | — | |||||||||||||||
Other liabilities | 121,544 | 22,768 | 3,271 | — | 147,583 | ||||||||||||||||
Redeemable noncontrolling interest | — | — | 10,202 | — | 10,202 | ||||||||||||||||
Total CoreLogic stockholders' equity | 1,044,373 | 1,966,178 | 243,748 | (2,209,926 | ) | 1,044,373 | |||||||||||||||
Total liabilities and equity | $ | 2,644,038 | $ | 2,877,888 | $ | 378,386 | $ | (2,896,957 | ) | $ | 3,003,355 | ||||||||||
Condensed Statement of Operations | |||||||||||||||||||||
For the three months ended March 31, 2014 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Operating revenues | $ | — | $ | 279,074 | $ | 31,343 | $ | — | $ | 310,417 | |||||||||||
Intercompany revenues | — | — | 58 | (58 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 163,968 | 13,327 | 86 | 177,381 | ||||||||||||||||
Selling, general and administrative expenses | 18,592 | 62,766 | 8,730 | (144 | ) | 89,944 | |||||||||||||||
Depreciation and amortization | 1,147 | 21,936 | 6,356 | — | 29,439 | ||||||||||||||||
Operating (loss)/income | (19,739 | ) | 30,404 | 2,988 | — | 13,653 | |||||||||||||||
Total interest (expense)/income, net | (14,987 | ) | (95 | ) | (575 | ) | — | (15,657 | ) | ||||||||||||
Loss on investments and other, net | (3,991 | ) | (360 | ) | — | — | (4,351 | ) | |||||||||||||
(Benefit)/provision for income taxes | (13,740 | ) | 10,259 | 3,119 | — | (362 | ) | ||||||||||||||
Equity in earnings of affiliates, net of tax | — | 2,382 | — | — | 2,382 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 22,185 | — | — | (22,185 | ) | — | |||||||||||||||
Net (loss)/income from continuing operations, net of tax | (2,792 | ) | 22,072 | (706 | ) | (22,185 | ) | (3,611 | ) | ||||||||||||
Income from discontinued operations, net of tax | — | 1,083 | — | — | 1,083 | ||||||||||||||||
Net (loss)/income | (2,792 | ) | 23,155 | (706 | ) | (22,185 | ) | (2,528 | ) | ||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | 264 | — | 264 | ||||||||||||||||
Net (loss)/income attributable to CoreLogic | $ | (2,792 | ) | $ | 23,155 | $ | (970 | ) | $ | (22,185 | ) | $ | (2,792 | ) | |||||||
Net (loss)/income | $ | (2,792 | ) | $ | 23,155 | $ | (706 | ) | $ | (22,185 | ) | $ | (2,528 | ) | |||||||
Total other comprehensive income/(loss) | 12,989 | — | 10,502 | (10,502 | ) | 12,989 | |||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | — | — | 264 | — | 264 | ||||||||||||||||
Comprehensive income attributable to CoreLogic | $ | 10,197 | $ | 23,155 | $ | 9,532 | $ | (32,687 | ) | $ | 10,197 | ||||||||||
Condensed Statement of Operations | |||||||||||||||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Operating revenues | $ | — | $ | 308,336 | $ | 22,965 | $ | — | $ | 331,301 | |||||||||||
Intercompany revenues | — | — | 167 | (167 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 158,206 | 9,590 | (167 | ) | 167,629 | |||||||||||||||
Selling, general and administrative expenses | 16,532 | 57,567 | 8,097 | — | 82,196 | ||||||||||||||||
Depreciation and amortization | 850 | 27,522 | 5,769 | — | 34,141 | ||||||||||||||||
Operating (loss)/income | (17,382 | ) | 65,041 | (324 | ) | — | 47,335 | ||||||||||||||
Total interest expense, net | (11,695 | ) | (122 | ) | 166 | — | (11,651 | ) | |||||||||||||
Gain on investment and other, net | 1,339 | — | — | — | 1,339 | ||||||||||||||||
(Benefit)/provision for income taxes | (11,038 | ) | 24,737 | 523 | — | 14,222 | |||||||||||||||
Equity in earnings of affiliates, net of tax | — | 8,453 | 335 | — | 8,788 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 50,268 | — | — | (50,268 | ) | — | |||||||||||||||
Net income/(loss) from continuing operations, net of tax | 33,568 | 48,635 | (346 | ) | (50,268 | ) | 31,589 | ||||||||||||||
Income/(loss) from discontinued operations, net of tax | — | 3,868 | (171 | ) | — | 3,697 | |||||||||||||||
Loss from sale of discontinued operations, net of tax | — | (1,744 | ) | — | — | (1,744 | ) | ||||||||||||||
Net income/(loss) | 33,568 | 50,759 | (517 | ) | (50,268 | ) | 33,542 | ||||||||||||||
Less: Net loss attributable to noncontrolling interest | — | — | (26 | ) | — | (26 | ) | ||||||||||||||
Net income/(loss) attributable to CoreLogic | $ | 33,568 | $ | 50,759 | $ | (491 | ) | $ | (50,268 | ) | $ | 33,568 | |||||||||
Net income/(loss) | $ | 33,568 | $ | 50,759 | $ | (517 | ) | $ | (50,268 | ) | $ | 33,542 | |||||||||
Total other comprehensive (loss)/income | (538 | ) | — | (933 | ) | 933 | (538 | ) | |||||||||||||
Less: Comprehensive loss attributable to noncontrolling interests | — | — | (26 | ) | — | (26 | ) | ||||||||||||||
Comprehensive income/(loss) attributable to CoreLogic | $ | 33,030 | $ | 50,759 | $ | (1,424 | ) | $ | (49,335 | ) | $ | 33,030 | |||||||||
Condensed Statement of Cash Flows | |||||||||||||||||||||
For the three months ended March 31, 2014 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net cash (used in)/provided by operating activities - continuing operations | $ | (21,816 | ) | $ | 29,798 | $ | 4,689 | $ | — | $ | 12,671 | ||||||||||
Net cash provided by operating activities - discontinued operations | — | 3,982 | — | — | 3,982 | ||||||||||||||||
Total cash (used in)/provided by operating activities | $ | (21,816 | ) | $ | 33,780 | $ | 4,689 | $ | — | $ | 16,653 | ||||||||||
Cash flow from investing activities: | |||||||||||||||||||||
Purchases of property and equipment | $ | (824 | ) | $ | (9,557 | ) | $ | (3,046 | ) | $ | — | $ | (13,427 | ) | |||||||
Purchases of capitalized data and other intangible assets | — | (6,841 | ) | (344 | ) | — | (7,185 | ) | |||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (636,640 | ) | (29,118 | ) | — | (665,758 | ) | |||||||||||||
Change in restricted cash | (700 | ) | 185 | (65 | ) | — | (580 | ) | |||||||||||||
Net cash used in investing activities - continuing operations | (1,524 | ) | (652,853 | ) | (32,573 | ) | — | (686,950 | ) | ||||||||||||
Net cash used in investing activities - discontinued operations | — | (6 | ) | — | — | (6 | ) | ||||||||||||||
Total cash used in investing activities | $ | (1,524 | ) | $ | (652,859 | ) | $ | (32,573 | ) | $ | — | $ | (686,956 | ) | |||||||
Cash flow from financing activities: | |||||||||||||||||||||
Proceeds from long-term debt | $ | 689,641 | $ | — | $ | — | $ | — | $ | 689,641 | |||||||||||
Debt issuance costs | (14,042 | ) | — | — | — | (14,042 | ) | ||||||||||||||
Repayments of long-term debt | (266 | ) | (4,888 | ) | — | — | (5,154 | ) | |||||||||||||
Share repurchased and retired | (6,850 | ) | — | — | — | (6,850 | ) | ||||||||||||||
Proceeds from issuance of stock related to stock options and employee benefit plans | 2,730 | — | — | — | 2,730 | ||||||||||||||||
Minimum tax withholding paid on behalf of employees for restricted stock units | (14,314 | ) | — | — | — | (14,314 | ) | ||||||||||||||
Excess tax benefit related to stock options | 5,942 | — | — | — | 5,942 | ||||||||||||||||
Intercompany payments | (665,666 | ) | 665,666 | — | |||||||||||||||||
Intercompany proceeds | — | 636,737 | 28,929 | (665,666 | ) | — | |||||||||||||||
Net cash (used in)/provided by financing activities - continuing operations | (2,825 | ) | 631,849 | 28,929 | — | 657,953 | |||||||||||||||
Net cash provided by financing activities - discontinued operations | — | — | — | — | — | ||||||||||||||||
Total cash (used in)/provided by financing activities | $ | (2,825 | ) | $ | 631,849 | $ | 28,929 | $ | — | $ | 657,953 | ||||||||||
Effect of exchange rate on cash | — | — | 482 | — | 482 | ||||||||||||||||
Net (decrease)/increase in cash and cash equivalents | (26,165 | ) | 12,770 | 1,527 | — | (11,868 | ) | ||||||||||||||
Cash and cash equivalents at beginning of period | 104,632 | — | 30,109 | — | 134,741 | ||||||||||||||||
Less: Change in cash and cash equivalents - discontinued operations | — | 3,976 | — | — | 3,976 | ||||||||||||||||
Plus: Cash swept to discontinued operations | 4,009 | — | — | — | 4,009 | ||||||||||||||||
Cash and cash equivalents at end of period | $ | 82,476 | $ | 8,794 | $ | 31,636 | $ | — | $ | 122,906 | |||||||||||
Condensed Statement of Cash Flows | |||||||||||||||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net cash provided by/(used in) operating activities - continuing operations | $ | 32,508 | $ | 54,908 | $ | (5,344 | ) | $ | — | $ | 82,072 | ||||||||||
Net cash provided by operating activities - discontinued operations | — | 9,003 | — | — | 9,003 | ||||||||||||||||
Total cash provided by/(used in) operating activities | $ | 32,508 | $ | 63,911 | $ | (5,344 | ) | $ | — | $ | 91,075 | ||||||||||
Cash flow from investing activities: | |||||||||||||||||||||
Purchases of property and equipment | $ | (871 | ) | $ | (15,025 | ) | $ | (2,154 | ) | $ | — | $ | (18,050 | ) | |||||||
Purchases of capitalized data and other intangible assets | (390 | ) | (8,051 | ) | (1,048 | ) | — | (9,489 | ) | ||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (7,027 | ) | — | — | (7,027 | ) | ||||||||||||||
Cash received from sale of discontinued operations | — | 2,263 | — | — | 2,263 | ||||||||||||||||
Purchases of investments | — | (2,351 | ) | — | — | (2,351 | ) | ||||||||||||||
Change in restricted cash | (4 | ) | 1 | (37 | ) | — | (40 | ) | |||||||||||||
Net cash used in investing activities - continuing operations | (1,265 | ) | (30,190 | ) | (3,239 | ) | — | (34,694 | ) | ||||||||||||
Net cash used in by investing activities - discontinued operations | — | (87 | ) | — | — | (87 | ) | ||||||||||||||
Total cash used in investing activities | $ | (1,265 | ) | $ | (30,277 | ) | $ | (3,239 | ) | $ | — | $ | (34,781 | ) | |||||||
Cash flow from financing activities: | |||||||||||||||||||||
Repayments of long-term debt | $ | (4,375 | ) | $ | (25 | ) | $ | — | $ | — | $ | (4,400 | ) | ||||||||
Share repurchased and retired | (75,676 | ) | — | — | — | (75,676 | ) | ||||||||||||||
Proceeds from issuance of stock related to stock options and employee benefit plans | 4,621 | — | — | — | 4,621 | ||||||||||||||||
Minimum tax withholding paid on behalf of employees for restricted stock units | (6,437 | ) | — | — | — | (6,437 | ) | ||||||||||||||
Excess tax benefit related to stock options | 2,321 | — | — | — | 2,321 | ||||||||||||||||
Intercompany payments | — | (41,854 | ) | (5,604 | ) | 47,458 | — | ||||||||||||||
Intercompany proceeds | 47,458 | — | — | (47,458 | ) | — | |||||||||||||||
Net cash used in financing activities - continuing operations | (32,088 | ) | (41,879 | ) | (5,604 | ) | — | (79,571 | ) | ||||||||||||
Net cash provided by financing activities - discontinued operations | — | — | — | — | — | ||||||||||||||||
Total cash used in financing activities | $ | (32,088 | ) | $ | (41,879 | ) | $ | (5,604 | ) | $ | — | $ | (79,571 | ) | |||||||
Effect of exchange rate on cash | — | — | (26 | ) | — | (26 | ) | ||||||||||||||
Net decrease in cash and cash equivalents | (845 | ) | (8,245 | ) | (14,213 | ) | — | (23,303 | ) | ||||||||||||
Cash and cash equivalents at beginning of period | 111,305 | 5,889 | 34,792 | — | 151,986 | ||||||||||||||||
Less: Change in cash and cash equivalents - discontinued operations | — | 8,916 | — | — | 8,916 | ||||||||||||||||
Plus: Cash swept to discontinued operations | (2,408 | ) | 11,274 | — | — | 8,866 | |||||||||||||||
Cash and cash equivalents at end of period | $ | 108,052 | $ | 2 | $ | 20,579 | $ | — | $ | 128,633 | |||||||||||
Basis_of_Condensed_Consolidate1
Basis of Condensed Consolidated Financial Statements Comprehensive Income (Loss) Table (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Comprehensive Income (Loss) [Abstract] | ' | |||||||
Comprehensive Income (Loss) [Policy Text Block] | ' | |||||||
The following table shows the components of accumulated other comprehensive loss, net of taxes as of March 31, 2014 and December 31, 2013: | ||||||||
2014 | 2013 | |||||||
Cumulative foreign currency translation | $ | (40,285 | ) | $ | (50,787 | ) | ||
Cumulative supplemental benefit plans | (633 | ) | (568 | ) | ||||
Net unrecognized losses on interest rate swap | — | (2,482 | ) | |||||
Net unrealized gains on marketable securities | 318 | 248 | ||||||
Accumulated other comprehensive loss | $ | (40,600 | ) | $ | (53,589 | ) |
Investments_in_Affiliates_Tabl
Investments in Affiliates (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||
Schedule of Equity Method Investments | ' | |||||||
summarized information is as follows: | ||||||||
For the Three Months Ended | ||||||||
March 31, | ||||||||
(in thousands) | 2014 | 2013 | ||||||
Statements of income | ||||||||
Total revenues | $ | 47,523 | $ | 93,184 | ||||
Expenses and other | 40,808 | 72,772 | ||||||
Net income attributable to RELS LLC | $ | 6,715 | $ | 20,412 | ||||
CoreLogic equity in earnings of affiliate, pre-tax | $ | 3,364 | $ | 10,226 | ||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Schedule of Property and Equipment | ' | |||||||
Property and equipment, net as of March 31, 2014 and December 31, 2013 consists of the following: | ||||||||
(in thousands) | 2014 | 2013 | ||||||
Land | $ | 4,000 | $ | 4,000 | ||||
Buildings | 11,010 | 10,780 | ||||||
Furniture and equipment | 99,352 | 88,794 | ||||||
Capitalized software | 667,369 | 481,662 | ||||||
Leasehold improvements | 51,554 | 50,001 | ||||||
833,285 | 635,237 | |||||||
Less accumulated depreciation | (458,110 | ) | (439,592 | ) | ||||
Property and equipment, net | $ | 375,175 | $ | 195,645 | ||||
Goodwill_Tables
Goodwill (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Schedule of Goodwill | ' | |||||||||||
A reconciliation of the changes in the carrying amount of goodwill and accumulated impairment losses, by reporting unit, for the three months ended March 31, 2014, is as follows: | ||||||||||||
(in thousands) | D&A | TPS | Consolidated | |||||||||
Balance as of January 1, 2014 | ||||||||||||
Goodwill | $ | 689,442 | $ | 708,757 | $ | 1,398,199 | ||||||
Accumulated impairment losses | (600 | ) | (6,925 | ) | (7,525 | ) | ||||||
Goodwill, net | 688,842 | 701,832 | 1,390,674 | |||||||||
Acquisitions | 337,378 | 29,900 | 367,278 | |||||||||
Translation adjustments | 5,665 | — | 5,665 | |||||||||
Other | 2,315 | — | 2,315 | |||||||||
Balance as of March 31, 2014 | ||||||||||||
Goodwill, net | $ | 1,034,200 | $ | 731,732 | $ | 1,765,932 | ||||||
Other_Intangible_Assets_Net_Ta
Other Intangible Assets, Net (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets by Major Class | ' | |||||||||||||||||||||||
Other intangible assets consist of the following: | ||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in thousands) | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | ||||||||||||||||||
Customer lists | $ | 390,566 | $ | (169,292 | ) | $ | 221,274 | $ | 315,639 | $ | (162,278 | ) | $ | 153,361 | ||||||||||
Non-compete agreements | 9,142 | (6,869 | ) | 2,273 | 9,150 | (6,659 | ) | 2,491 | ||||||||||||||||
Trade names and licenses | 94,611 | (12,223 | ) | 82,388 | 31,108 | (11,152 | ) | 19,956 | ||||||||||||||||
$ | 494,319 | $ | (188,384 | ) | $ | 305,935 | $ | 355,897 | $ | (180,089 | ) | $ | 175,808 | |||||||||||
Schedule of Expected Amortization Expense | ' | |||||||||||||||||||||||
Estimated amortization expense for other intangible assets anticipated for the next five years is as follows: | ||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Remainder of 2014 | $ | 33,653 | ||||||||||||||||||||||
2015 | 40,083 | |||||||||||||||||||||||
2016 | 33,666 | |||||||||||||||||||||||
2017 | 32,792 | |||||||||||||||||||||||
2018 | 31,728 | |||||||||||||||||||||||
Thereafter | 134,013 | |||||||||||||||||||||||
$ | 305,935 | |||||||||||||||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Long-term Debt Instruments | ' | ||||||||
Our long-term debt consists of the following: | |||||||||
March 31, | December 31, | ||||||||
(in thousands) | 2014 | 2013 | |||||||
Acquisition-related note: | |||||||||
Non-interest bearing acquisition note due in $5.0 million installment on March 2016 | $ | 4,408 | $ | 9,276 | |||||
Notes: | |||||||||
7.25% senior notes due June 2021 | 393,000 | 393,000 | |||||||
5.7% senior debentures due August 2014 | 825 | 825 | |||||||
7.55% senior debentures due April 2028 | 59,645 | 59,645 | |||||||
Bank debt: | |||||||||
Revolving line of credit borrowings due March 2019, weighted-average interest rate of 3.35% at March 31, 2014 | 215,000 | — | |||||||
Term loan facility borrowings due March 2019, weighted-average interest rate of 2.80% at March 31, 2014 | 850,000 | — | |||||||
Revolving line of credit borrowings due May 2016, weighted-average interest rate of 1.9% at December 31, 2013, extinguished in March 2014 | — | 100,000 | |||||||
Term loan facility borrowings through May 2016, weighted-average interest rate of 2.9% at December 31, 2013, extinguished in March 2014 | — | 275,625 | |||||||
Other debt: | |||||||||
Various interest rates with maturities through 2017 | 1,671 | 1,559 | |||||||
Total long-term debt | 1,524,549 | 839,930 | |||||||
Less current portion of long-term debt | 43,874 | 28,154 | |||||||
Long-term debt, net of current portion | $ | 1,480,675 | $ | 811,776 | |||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Schedule of Earnings Per Share Reconciliation | ' | |||||||
The following is a reconciliation of net income per share, using the treasury-stock method: | ||||||||
For the Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands, except per share amounts) | ||||||||
Numerator for basic and diluted net income/(loss) per share: | ||||||||
Net (loss)/income from continuing operations | $ | (3,875 | ) | $ | 31,615 | |||
Income from discontinued operations, net of tax | 1,083 | 3,697 | ||||||
Loss from sale of discontinued operations, net of tax | — | (1,744 | ) | |||||
Net (loss)/income attributable to CoreLogic | $ | (2,792 | ) | $ | 33,568 | |||
Denominator: | ||||||||
Weighted-average shares for basic income/(loss) per share | 91,433 | 97,113 | ||||||
Dilutive effect of stock options and restricted stock units | — | 1,943 | ||||||
Weighted-average shares for diluted income/(loss) per share | 91,433 | 99,056 | ||||||
Income/(loss) per share | ||||||||
Basic: | ||||||||
Net (loss)/income from continuing operations | $ | (0.04 | ) | $ | 0.33 | |||
Income from discontinued operations, net of tax | 0.01 | 0.04 | ||||||
Loss from sale of discontinued operations, net of tax | — | (0.02 | ) | |||||
Net (loss)/income attributable to CoreLogic | $ | (0.03 | ) | $ | 0.35 | |||
Diluted: | ||||||||
Net (loss)/income from continuing operations | $ | (0.04 | ) | $ | 0.32 | |||
Income from discontinued operations, net of tax | 0.01 | 0.04 | ||||||
Loss from sale of discontinued operations, net of tax | — | (0.02 | ) | |||||
Net (loss)/income attributable to CoreLogic | $ | (0.03 | ) | $ | 0.34 | |||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of Fair Value of Assets and Liabilities measured on a recurring basis | ' | ||||||||||||||||
The fair values of our financial instruments as of March 31, 2014 are presented in the following table: | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
(in thousands) | Level 1 | Level 2 | Fair Value | ||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 122,906 | $ | — | $ | 122,906 | |||||||||||
Restricted cash | — | 12,630 | 12,630 | ||||||||||||||
Equity securities | 22,334 | — | 22,334 | ||||||||||||||
Total Financial Assets | $ | 145,240 | $ | 12,630 | $ | 157,870 | |||||||||||
Financial Liabilities: | |||||||||||||||||
Total debt | — | 1,544,009 | 1,544,009 | ||||||||||||||
Total Financial Liabilities | $ | — | $ | 1,544,009 | $ | 1,544,009 | |||||||||||
The fair values of our financial instruments as of December 31, 2013 are presented in the following table: | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
(in thousands) | Level 1 | Level 2 | Fair Value | ||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 134,741 | $ | — | $ | 134,741 | |||||||||||
Restricted cash | — | 12,050 | 12,050 | ||||||||||||||
Equity securities | 22,220 | — | 22,220 | ||||||||||||||
Total Financial Assets | $ | 156,961 | $ | 12,050 | $ | 169,011 | |||||||||||
Financial Liabilities: | |||||||||||||||||
Total debt | — | 869,232 | 869,232 | ||||||||||||||
Total Financial Liabilities | $ | — | $ | 869,232 | $ | 869,232 | |||||||||||
Derivatives: | |||||||||||||||||
Liability for interest rate swap agreements | $ | — | $ | 4,020 | $ | 4,020 | |||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] | ' | ||||||||||||||||
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of March 31, 2014 and impairment losses for the three months ended March 31, 2014: | |||||||||||||||||
As of March 31, 2014 | |||||||||||||||||
Fair Value Measurements Using | Impairment Losses | ||||||||||||||||
Level 1 | Level 2 | Level 3 | For the three months ended March 31, 2014 | ||||||||||||||
Property and equipment, net | $ | — | $ | — | $ | — | $ | 148 | |||||||||
Investment in affiliates, net | — | — | 30 | 360 | |||||||||||||
$ | — | $ | — | $ | 30 | $ | 508 | ||||||||||
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of March 31, 2013 and impairment losses for the three months ended March 31, 2013: | |||||||||||||||||
As of March 31, 2013 | |||||||||||||||||
Fair Value Measurements Using | Impairment Losses | ||||||||||||||||
Level 1 | Level 2 | Level 3 | For the three months ended March 31, 2013 | ||||||||||||||
Property and equipment, net | $ | — | $ | — | $ | — | $ | 844 | |||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | ' | ||||||||||||
RSU activity for the three months ended March 31, 2014 is as follows: | |||||||||||||
Number of | Weighted-Average | ||||||||||||
Grant-Date | |||||||||||||
(in thousands, except weighted-average fair value prices) | Shares | Fair Value | |||||||||||
Unvested RSUs outstanding at December 31, 2013 | 1,466 | $ | 22.13 | ||||||||||
RSUs granted | 658 | $ | 30.72 | ||||||||||
RSUs vested | (497 | ) | $ | 20.11 | |||||||||
RSUs forfeited | (29 | ) | $ | 22.45 | |||||||||
Unvested RSUs outstanding at March 31, 2014 | 1,598 | $ | 26.28 | ||||||||||
Schedule of Other Share-Based Compensation, Valuation Assumptions [Table Text Block] | ' | ||||||||||||
The fair values of the 2014 and 2013 awards were estimated using Monte-Carlo simulation with the following weighted-average assumptions. | |||||||||||||
For the Three Months Ended March 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Expected dividend yield | — | % | — | % | |||||||||
Risk-free interest rate (1) | 0.7 | % | 0.35 | % | |||||||||
Expected volatility (2) | 27.87 | % | 30.59 | % | |||||||||
Average total shareholder return (2) | (0.84 | )% | 8.21 | % | |||||||||
-1 | The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. | ||||||||||||
-2 | The expected volatility and average total shareholder return is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate based primarily on our and our peers' historical data. | ||||||||||||
Schedule of Other Share-based Compensation, Activity | ' | ||||||||||||
PBRSU activity for the three months ended March 31, 2014, is as follows: | |||||||||||||
Number of | Weighted-Average | ||||||||||||
Grant-Date | |||||||||||||
(in thousands, except weighted-average fair value prices) | Shares | Fair Value | |||||||||||
Unvested PBRSUs outstanding at December 31, 2013 | 1,247 | $ | 18.52 | ||||||||||
PBRSUs granted | 330 | $ | 31.57 | ||||||||||
PBRSUs vested | (612 | ) | $ | 16.92 | |||||||||
PBRSUs forfeited | (11 | ) | $ | 19.81 | |||||||||
Unvested PBRSUs outstanding at March 31, 2014 | 954 | $ | 22.02 | ||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||
The fair values of these stock options were estimated using the Black-Scholes valuation model with the following weighted-average assumptions: | |||||||||||||
For the Three Months Ended | |||||||||||||
March 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Expected dividend yield | — | % | — | % | |||||||||
Risk-free interest rate (1) | 1.74 | % | 0.9 | % | |||||||||
Expected volatility (2) | 37.92 | % | 41.65 | % | |||||||||
Expected life (3) | 5.5 | 5.5 | |||||||||||
-1 | The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. | ||||||||||||
-2 | The expected volatility is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate based primarily on our and our peers' historical data. | ||||||||||||
-3 | The expected life is the period of time, on average, that participants are expected to hold their options before exercise based primarily on our historical data. | ||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity | ' | ||||||||||||
Option activity for the three months ended March 31, 2014 is as follows: | |||||||||||||
(in thousands, except weighted-average price) | Number of | Weighted-Average | Weighted-Average | Aggregate | |||||||||
Shares | Exercise Price | Remaining | Intrinsic | ||||||||||
Contractual Term | Value | ||||||||||||
Options outstanding at December 31, 2013 | 2,663 | $ | 21.12 | ||||||||||
Options granted | 243 | $ | 31.59 | ||||||||||
Options exercised | (70 | ) | $ | 17.5 | |||||||||
Options canceled | (16 | ) | $ | 20.66 | |||||||||
Options outstanding at March 31, 2014 | 2,820 | $ | 22.11 | 5.5 | $ | 22,775 | |||||||
Options vested and expected to vest at March 31, 2014 | 2,771 | $ | 22.02 | 5.4 | $ | 22,600 | |||||||
Options exercisable at March 31, 2014 | 1,914 | $ | 21.37 | 4.2 | $ | 16,590 | |||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | ' | ||||||||||||
The following table sets forth the stock-based compensation expense recognized for the three months ended March 31, 2014 and 2013. | |||||||||||||
For the Three Months Ended | |||||||||||||
March 31, | |||||||||||||
(in thousands) | 2014 | 2013 | |||||||||||
RSUs | $ | 5,473 | $ | 5,100 | |||||||||
PBRSUs | 1,243 | 2,155 | |||||||||||
Stock options | 1,105 | 683 | |||||||||||
Employee stock purchase plan | 265 | 204 | |||||||||||
$ | 8,086 | $ | 8,142 | ||||||||||
The above share-based compensation expense includes $0.3 million and $0.1 million within cost of services in the accompanying condensed consolidated statements of operations for the three months ended March 31, 2014 and 2013, respectively. It also includes $0.1 million and less than $0.1 million of share-based compensation expense for the three months ended March 31, 2014 and 2013, respectively, reported within income from discontinued operations in the accompanying condensed consolidated statements of operations. |
Acquisitions_Purchase_Price_Al
Acquisitions Purchase Price Allocation (Tables) | 3 Months Ended | |||
Mar. 31, 2014 | ||||
Purchase Price Allocation [Abstract] | ' | |||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | |||
The preliminary allocation of the purchase price is as follows: | ||||
Purchase Price | ||||
Cash and cash equivalents | $ | 36 | ||
Accounts receivable | 9,227 | |||
Prepaid expenses and other current assets | 2,047 | |||
Deferred income tax assets, current | 1,848 | |||
Property and equipment | 177,311 | |||
Goodwill (1) | 363,295 | |||
Other intangible assets | 129,400 | |||
Investment in affiliates | 18,300 | |||
Total assets acquired | $ | 701,464 | ||
Accounts payable and accrued expenses | 3,446 | |||
Income taxes payable | 31 | |||
Deferred revenue, current | 22,403 | |||
Deferred revenue, net of current | 1,663 | |||
Deferred income tax liabilities, long term | 23,821 | |||
Net assets acquired | $ | 650,100 | ||
Acquisitions_Pro_Forma_Informa
Acquisitions Pro Forma Information (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | |||||||
The pro forma financial information for the three months ended March 31, 2014 and 2013 combines our results of operations for the periods presented. | ||||||||
Pro Forma | ||||||||
2014 | 2013 | |||||||
Net revenues | $ | 332,801 | $ | 356,925 | ||||
Net income | $ | 6,325 | $ | 23,815 | ||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ||||||||||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | ' | ||||||||||||||||||||
Summarized below are certain assets and liabilities classified as discontinued operations as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||
(in thousands) | D&A | TPS | |||||||||||||||||||
As of March 31, 2014 | Marketing | Consumer | Appraisal | AMPS | Total | ||||||||||||||||
Accounts receivable | $ | — | $ | — | $ | — | $ | 29,460 | $ | 29,460 | |||||||||||
Other current assets | 177 | 149 | 200 | 3,082 | 3,608 | ||||||||||||||||
Property and equipment, net | — | — | — | 3,160 | 3,160 | ||||||||||||||||
Goodwill and other identifiable intangible assets, net | — | — | — | 97,577 | 97,577 | ||||||||||||||||
Other assets | — | — | — | 510 | 510 | ||||||||||||||||
Total assets | $ | 177 | $ | 149 | $ | 200 | $ | 133,789 | $ | 134,315 | |||||||||||
Accounts payable and accrued expenses | $ | 397 | $ | — | $ | 3,519 | $ | 9,290 | $ | 13,206 | |||||||||||
Other liabilities | 222 | 88 | 559 | 15,344 | 16,213 | ||||||||||||||||
Total liabilities | $ | 619 | $ | 88 | $ | 4,078 | $ | 24,634 | $ | 29,419 | |||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Accounts receivable | $ | — | $ | — | $ | — | $ | 32,811 | $ | 32,811 | |||||||||||
Other current assets | 177 | 149 | 200 | 3,052 | 3,578 | ||||||||||||||||
Property and equipment, net | — | — | — | 3,594 | 3,594 | ||||||||||||||||
Goodwill and other identifiable intangible assets, net | — | — | — | 97,577 | 97,577 | ||||||||||||||||
Other assets | — | — | — | 463 | 463 | ||||||||||||||||
Total assets | $ | 177 | $ | 149 | $ | 200 | $ | 137,497 | $ | 138,023 | |||||||||||
Accounts payable and accrued expenses | $ | 676 | $ | — | $ | 3,127 | $ | 9,693 | $ | 13,496 | |||||||||||
Other liabilities | 259 | 88 | 568 | 15,898 | 16,813 | ||||||||||||||||
Total liabilities | $ | 935 | $ | 88 | $ | 3,695 | $ | 25,591 | $ | 30,309 | |||||||||||
Summarized below are the components of our income/(loss) from discontinued operations for three months ended March 31, 2014 and 2013: | |||||||||||||||||||||
(in thousands) | D&A | TPS | |||||||||||||||||||
For the three months ended March 31, 2014 | Marketing | Consumer | Appraisal | AMPS | Total | ||||||||||||||||
Operating revenue | $ | — | $ | — | $ | — | $ | 42,792 | $ | 42,792 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (250 | ) | — | (600 | ) | 2,617 | 1,767 | ||||||||||||||
Income tax (benefit)/expense | (96 | ) | — | (229 | ) | 1,009 | 684 | ||||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (154 | ) | $ | — | $ | (371 | ) | $ | 1,608 | $ | 1,083 | |||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||
Operating revenue | $ | — | $ | — | $ | — | $ | 65,868 | $ | 65,868 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (110 | ) | 196 | (1,148 | ) | 7,981 | 6,919 | ||||||||||||||
Income tax (benefit)/expense | (42 | ) | 75 | (439 | ) | 3,628 | 3,222 | ||||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (68 | ) | $ | 121 | $ | (709 | ) | $ | 4,353 | $ | 3,697 | |||||||||
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | ||||||||||||||||||||||||
Selected financial information by reportable segment is as follows: | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
For the three months ended March 31, 2014 | Operating Revenues | Depreciation and Amortization | Operating Income/(Loss) | Equity in Earnings/(Loss) of Affiliates, Net of Tax | Net Income/(Loss) From Continuing Operations | Capital Expenditures | |||||||||||||||||||
D&A | $ | 142,533 | $ | 20,537 | $ | 16,674 | $ | (13 | ) | $ | 16,638 | $ | 12,622 | ||||||||||||
TPS | 169,309 | 5,968 | 23,730 | 3,976 | 27,572 | 2,654 | |||||||||||||||||||
Corporate | 58 | 2,934 | (26,751 | ) | (1,581 | ) | (47,821 | ) | 5,336 | ||||||||||||||||
Eliminations | (1,483 | ) | — | — | — | — | — | ||||||||||||||||||
Consolidated (excluding discontinued operations) | $ | 310,417 | $ | 29,439 | $ | 13,653 | $ | 2,382 | $ | (3,611 | ) | $ | 20,612 | ||||||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||||||
D&A | $ | 145,515 | $ | 19,519 | $ | 25,252 | $ | 637 | $ | 26,046 | $ | 13,160 | |||||||||||||
TPS | 189,901 | 6,703 | 49,856 | 13,447 | 63,173 | 4,248 | |||||||||||||||||||
Corporate | 167 | 7,919 | (27,773 | ) | (5,296 | ) | (57,630 | ) | 10,131 | ||||||||||||||||
Eliminations | (4,282 | ) | — | — | — | — | — | ||||||||||||||||||
Consolidated (excluding discontinued operations) | $ | 331,301 | $ | 34,141 | $ | 47,335 | $ | 8,788 | $ | 31,589 | $ | 27,539 | |||||||||||||
(in thousands) | As of | As of | |||||||||||||||||||||||
Assets | March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
D&A | $ | 2,013,302 | $ | 1,325,253 | |||||||||||||||||||||
TPS | 1,172,696 | 1,139,420 | |||||||||||||||||||||||
Corporate | 5,149,431 | 4,498,940 | |||||||||||||||||||||||
Eliminations | (4,749,726 | ) | (4,098,281 | ) | |||||||||||||||||||||
Consolidated (excluding discontinued operations) | $ | 3,585,703 | $ | 2,865,332 | |||||||||||||||||||||
Guarantor_Subsidiaries_Tables
Guarantor Subsidiaries (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
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 March 31, 2014 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 82,476 | $ | 8,794 | $ | 31,636 | $ | — | $ | 122,906 | |||||||||||
Accounts receivable | — | 167,842 | 26,182 | — | 194,024 | ||||||||||||||||
Other current assets | 64,902 | 248,677 | 4,183 | (2,231 | ) | 315,531 | |||||||||||||||
Property and equipment, net | 19,766 | 324,679 | 30,730 | — | 375,175 | ||||||||||||||||
Goodwill, net | — | 1,579,527 | 186,405 | — | 1,765,932 | ||||||||||||||||
Other identifiable intangible assets, net | 333 | 260,072 | 45,530 | — | 305,935 | ||||||||||||||||
Capitalized data and database cost, net | — | 250,294 | 88,689 | — | 338,983 | ||||||||||||||||
Investments in affiliates, net | — | 112,885 | — | — | 112,885 | ||||||||||||||||
Deferred income tax assets, long-term | 58,998 | — | — | (58,998 | ) | — | |||||||||||||||
Restricted cash | 11,035 | 121 | 1,474 | — | 12,630 | ||||||||||||||||
Investment in subsidiaries | 2,239,138 | — | — | (2,239,138 | ) | — | |||||||||||||||
Intercompany receivable | 164,495 | — | — | (164,495 | ) | — | |||||||||||||||
Other assets | 135,748 | 38,009 | 2,260 | — | 176,017 | ||||||||||||||||
Total assets | $ | 2,776,891 | $ | 2,990,900 | $ | 417,089 | $ | (2,464,862 | ) | $ | 3,720,018 | ||||||||||
Liabilities and equity: | |||||||||||||||||||||
Current liabilities | $ | 129,838 | $ | 388,407 | $ | 42,084 | $ | (2,231 | ) | $ | 558,098 | ||||||||||
Long-term debt, net of current | 1,475,145 | 5,530 | — | — | 1,480,675 | ||||||||||||||||
Deferred revenue, net of current | — | 363,844 | 8 | — | 363,852 | ||||||||||||||||
Deferred income taxes, long term | — | 134,800 | 24,303 | (58,998 | ) | 100,105 | |||||||||||||||
Intercompany payable | — | 87,936 | 76,559 | (164,495 | ) | — | |||||||||||||||
Other liabilities | 127,715 | 31,404 | 3,537 | — | 162,656 | ||||||||||||||||
Redeemable noncontrolling interest | — | — | 10,439 | — | 10,439 | ||||||||||||||||
Total CoreLogic stockholders' equity | 1,044,193 | 1,978,979 | 260,159 | (2,239,138 | ) | 1,044,193 | |||||||||||||||
Total liabilities and equity | $ | 2,776,891 | $ | 2,990,900 | $ | 417,089 | $ | (2,464,862 | ) | $ | 3,720,018 | ||||||||||
Condensed Balance Sheet | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 104,632 | $ | — | $ | 30,109 | $ | — | $ | 134,741 | |||||||||||
Accounts receivable | — | 174,518 | 21,764 | — | 196,282 | ||||||||||||||||
Other current assets | 57,368 | 249,680 | 3,543 | — | 310,591 | ||||||||||||||||
Property and equipment, net | 20,076 | 147,951 | 27,618 | — | 195,645 | ||||||||||||||||
Goodwill, net | — | 1,228,855 | 161,819 | — | 1,390,674 | ||||||||||||||||
Other identifiable intangible assets, net | 348 | 135,326 | 40,134 | — | 175,808 | ||||||||||||||||
Capitalized data and database cost, net | — | 249,472 | 80,716 | — | 330,188 | ||||||||||||||||
Investments in affiliates, net | — | 95,343 | — | — | 95,343 | ||||||||||||||||
Deferred income tax assets, long-term | 58,998 | — | — | (58,998 | ) | — | |||||||||||||||
Restricted cash | 10,335 | 306 | 1,409 | — | 12,050 | ||||||||||||||||
Investment in subsidiaries | 2,209,926 | — | — | (2,209,926 | ) | — | |||||||||||||||
Intercompany receivable | 63,647 | 555,216 | 9,170 | (628,033 | ) | — | |||||||||||||||
Other assets | 118,708 | 41,221 | 2,104 | — | 162,033 | ||||||||||||||||
Total assets | $ | 2,644,038 | $ | 2,877,888 | $ | 378,386 | $ | (2,896,957 | ) | $ | 3,003,355 | ||||||||||
Liabilities and equity: | |||||||||||||||||||||
Current liabilities | $ | 107,340 | $ | 397,481 | $ | 33,206 | $ | — | $ | 538,027 | |||||||||||
Long-term debt, net of current | 806,395 | 5,381 | — | — | 811,776 | ||||||||||||||||
Deferred revenue, net of current | — | 377,077 | 9 | — | 377,086 | ||||||||||||||||
Deferred income taxes, long term | — | 109,003 | 24,303 | (58,998 | ) | 74,308 | |||||||||||||||
Intercompany payable | 564,386 | — | 63,647 | (628,033 | ) | — | |||||||||||||||
Other liabilities | 121,544 | 22,768 | 3,271 | — | 147,583 | ||||||||||||||||
Redeemable noncontrolling interest | — | — | 10,202 | — | 10,202 | ||||||||||||||||
Total CoreLogic stockholders' equity | 1,044,373 | 1,966,178 | 243,748 | (2,209,926 | ) | 1,044,373 | |||||||||||||||
Total liabilities and equity | $ | 2,644,038 | $ | 2,877,888 | $ | 378,386 | $ | (2,896,957 | ) | $ | 3,003,355 | ||||||||||
Condensed Statement of Operations | |||||||||||||||||||||
For the three months ended March 31, 2014 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Operating revenues | $ | — | $ | 279,074 | $ | 31,343 | $ | — | $ | 310,417 | |||||||||||
Intercompany revenues | — | — | 58 | (58 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 163,968 | 13,327 | 86 | 177,381 | ||||||||||||||||
Selling, general and administrative expenses | 18,592 | 62,766 | 8,730 | (144 | ) | 89,944 | |||||||||||||||
Depreciation and amortization | 1,147 | 21,936 | 6,356 | — | 29,439 | ||||||||||||||||
Operating (loss)/income | (19,739 | ) | 30,404 | 2,988 | — | 13,653 | |||||||||||||||
Total interest (expense)/income, net | (14,987 | ) | (95 | ) | (575 | ) | — | (15,657 | ) | ||||||||||||
Loss on investments and other, net | (3,991 | ) | (360 | ) | — | — | (4,351 | ) | |||||||||||||
(Benefit)/provision for income taxes | (13,740 | ) | 10,259 | 3,119 | — | (362 | ) | ||||||||||||||
Equity in earnings of affiliates, net of tax | — | 2,382 | — | — | 2,382 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 22,185 | — | — | (22,185 | ) | — | |||||||||||||||
Net (loss)/income from continuing operations, net of tax | (2,792 | ) | 22,072 | (706 | ) | (22,185 | ) | (3,611 | ) | ||||||||||||
Income from discontinued operations, net of tax | — | 1,083 | — | — | 1,083 | ||||||||||||||||
Net (loss)/income | (2,792 | ) | 23,155 | (706 | ) | (22,185 | ) | (2,528 | ) | ||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | 264 | — | 264 | ||||||||||||||||
Net (loss)/income attributable to CoreLogic | $ | (2,792 | ) | $ | 23,155 | $ | (970 | ) | $ | (22,185 | ) | $ | (2,792 | ) | |||||||
Net (loss)/income | $ | (2,792 | ) | $ | 23,155 | $ | (706 | ) | $ | (22,185 | ) | $ | (2,528 | ) | |||||||
Total other comprehensive income/(loss) | 12,989 | — | 10,502 | (10,502 | ) | 12,989 | |||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | — | — | 264 | — | 264 | ||||||||||||||||
Comprehensive income attributable to CoreLogic | $ | 10,197 | $ | 23,155 | $ | 9,532 | $ | (32,687 | ) | $ | 10,197 | ||||||||||
Condensed Statement of Operations | |||||||||||||||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Operating revenues | $ | — | $ | 308,336 | $ | 22,965 | $ | — | $ | 331,301 | |||||||||||
Intercompany revenues | — | — | 167 | (167 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 158,206 | 9,590 | (167 | ) | 167,629 | |||||||||||||||
Selling, general and administrative expenses | 16,532 | 57,567 | 8,097 | — | 82,196 | ||||||||||||||||
Depreciation and amortization | 850 | 27,522 | 5,769 | — | 34,141 | ||||||||||||||||
Operating (loss)/income | (17,382 | ) | 65,041 | (324 | ) | — | 47,335 | ||||||||||||||
Total interest expense, net | (11,695 | ) | (122 | ) | 166 | — | (11,651 | ) | |||||||||||||
Gain on investment and other, net | 1,339 | — | — | — | 1,339 | ||||||||||||||||
(Benefit)/provision for income taxes | (11,038 | ) | 24,737 | 523 | — | 14,222 | |||||||||||||||
Equity in earnings of affiliates, net of tax | — | 8,453 | 335 | — | 8,788 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 50,268 | — | — | (50,268 | ) | — | |||||||||||||||
Net income/(loss) from continuing operations, net of tax | 33,568 | 48,635 | (346 | ) | (50,268 | ) | 31,589 | ||||||||||||||
Income/(loss) from discontinued operations, net of tax | — | 3,868 | (171 | ) | — | 3,697 | |||||||||||||||
Loss from sale of discontinued operations, net of tax | — | (1,744 | ) | — | — | (1,744 | ) | ||||||||||||||
Net income/(loss) | 33,568 | 50,759 | (517 | ) | (50,268 | ) | 33,542 | ||||||||||||||
Less: Net loss attributable to noncontrolling interest | — | — | (26 | ) | — | (26 | ) | ||||||||||||||
Net income/(loss) attributable to CoreLogic | $ | 33,568 | $ | 50,759 | $ | (491 | ) | $ | (50,268 | ) | $ | 33,568 | |||||||||
Net income/(loss) | $ | 33,568 | $ | 50,759 | $ | (517 | ) | $ | (50,268 | ) | $ | 33,542 | |||||||||
Total other comprehensive (loss)/income | (538 | ) | — | (933 | ) | 933 | (538 | ) | |||||||||||||
Less: Comprehensive loss attributable to noncontrolling interests | — | — | (26 | ) | — | (26 | ) | ||||||||||||||
Comprehensive income/(loss) attributable to CoreLogic | $ | 33,030 | $ | 50,759 | $ | (1,424 | ) | $ | (49,335 | ) | $ | 33,030 | |||||||||
Condensed Statement of Cash Flows | |||||||||||||||||||||
For the three months ended March 31, 2014 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net cash (used in)/provided by operating activities - continuing operations | $ | (21,816 | ) | $ | 29,798 | $ | 4,689 | $ | — | $ | 12,671 | ||||||||||
Net cash provided by operating activities - discontinued operations | — | 3,982 | — | — | 3,982 | ||||||||||||||||
Total cash (used in)/provided by operating activities | $ | (21,816 | ) | $ | 33,780 | $ | 4,689 | $ | — | $ | 16,653 | ||||||||||
Cash flow from investing activities: | |||||||||||||||||||||
Purchases of property and equipment | $ | (824 | ) | $ | (9,557 | ) | $ | (3,046 | ) | $ | — | $ | (13,427 | ) | |||||||
Purchases of capitalized data and other intangible assets | — | (6,841 | ) | (344 | ) | — | (7,185 | ) | |||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (636,640 | ) | (29,118 | ) | — | (665,758 | ) | |||||||||||||
Change in restricted cash | (700 | ) | 185 | (65 | ) | — | (580 | ) | |||||||||||||
Net cash used in investing activities - continuing operations | (1,524 | ) | (652,853 | ) | (32,573 | ) | — | (686,950 | ) | ||||||||||||
Net cash used in investing activities - discontinued operations | — | (6 | ) | — | — | (6 | ) | ||||||||||||||
Total cash used in investing activities | $ | (1,524 | ) | $ | (652,859 | ) | $ | (32,573 | ) | $ | — | $ | (686,956 | ) | |||||||
Cash flow from financing activities: | |||||||||||||||||||||
Proceeds from long-term debt | $ | 689,641 | $ | — | $ | — | $ | — | $ | 689,641 | |||||||||||
Debt issuance costs | (14,042 | ) | — | — | — | (14,042 | ) | ||||||||||||||
Repayments of long-term debt | (266 | ) | (4,888 | ) | — | — | (5,154 | ) | |||||||||||||
Share repurchased and retired | (6,850 | ) | — | — | — | (6,850 | ) | ||||||||||||||
Proceeds from issuance of stock related to stock options and employee benefit plans | 2,730 | — | — | — | 2,730 | ||||||||||||||||
Minimum tax withholding paid on behalf of employees for restricted stock units | (14,314 | ) | — | — | — | (14,314 | ) | ||||||||||||||
Excess tax benefit related to stock options | 5,942 | — | — | — | 5,942 | ||||||||||||||||
Intercompany payments | (665,666 | ) | 665,666 | — | |||||||||||||||||
Intercompany proceeds | — | 636,737 | 28,929 | (665,666 | ) | — | |||||||||||||||
Net cash (used in)/provided by financing activities - continuing operations | (2,825 | ) | 631,849 | 28,929 | — | 657,953 | |||||||||||||||
Net cash provided by financing activities - discontinued operations | — | — | — | — | — | ||||||||||||||||
Total cash (used in)/provided by financing activities | $ | (2,825 | ) | $ | 631,849 | $ | 28,929 | $ | — | $ | 657,953 | ||||||||||
Effect of exchange rate on cash | — | — | 482 | — | 482 | ||||||||||||||||
Net (decrease)/increase in cash and cash equivalents | (26,165 | ) | 12,770 | 1,527 | — | (11,868 | ) | ||||||||||||||
Cash and cash equivalents at beginning of period | 104,632 | — | 30,109 | — | 134,741 | ||||||||||||||||
Less: Change in cash and cash equivalents - discontinued operations | — | 3,976 | — | — | 3,976 | ||||||||||||||||
Plus: Cash swept to discontinued operations | 4,009 | — | — | — | 4,009 | ||||||||||||||||
Cash and cash equivalents at end of period | $ | 82,476 | $ | 8,794 | $ | 31,636 | $ | — | $ | 122,906 | |||||||||||
Condensed Statement of Cash Flows | |||||||||||||||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidating/Eliminating Adjustments | Total | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net cash provided by/(used in) operating activities - continuing operations | $ | 32,508 | $ | 54,908 | $ | (5,344 | ) | $ | — | $ | 82,072 | ||||||||||
Net cash provided by operating activities - discontinued operations | — | 9,003 | — | — | 9,003 | ||||||||||||||||
Total cash provided by/(used in) operating activities | $ | 32,508 | $ | 63,911 | $ | (5,344 | ) | $ | — | $ | 91,075 | ||||||||||
Cash flow from investing activities: | |||||||||||||||||||||
Purchases of property and equipment | $ | (871 | ) | $ | (15,025 | ) | $ | (2,154 | ) | $ | — | $ | (18,050 | ) | |||||||
Purchases of capitalized data and other intangible assets | (390 | ) | (8,051 | ) | (1,048 | ) | — | (9,489 | ) | ||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (7,027 | ) | — | — | (7,027 | ) | ||||||||||||||
Cash received from sale of discontinued operations | — | 2,263 | — | — | 2,263 | ||||||||||||||||
Purchases of investments | — | (2,351 | ) | — | — | (2,351 | ) | ||||||||||||||
Change in restricted cash | (4 | ) | 1 | (37 | ) | — | (40 | ) | |||||||||||||
Net cash used in investing activities - continuing operations | (1,265 | ) | (30,190 | ) | (3,239 | ) | — | (34,694 | ) | ||||||||||||
Net cash used in by investing activities - discontinued operations | — | (87 | ) | — | — | (87 | ) | ||||||||||||||
Total cash used in investing activities | $ | (1,265 | ) | $ | (30,277 | ) | $ | (3,239 | ) | $ | — | $ | (34,781 | ) | |||||||
Cash flow from financing activities: | |||||||||||||||||||||
Repayments of long-term debt | $ | (4,375 | ) | $ | (25 | ) | $ | — | $ | — | $ | (4,400 | ) | ||||||||
Share repurchased and retired | (75,676 | ) | — | — | — | (75,676 | ) | ||||||||||||||
Proceeds from issuance of stock related to stock options and employee benefit plans | 4,621 | — | — | — | 4,621 | ||||||||||||||||
Minimum tax withholding paid on behalf of employees for restricted stock units | (6,437 | ) | — | — | — | (6,437 | ) | ||||||||||||||
Excess tax benefit related to stock options | 2,321 | — | — | — | 2,321 | ||||||||||||||||
Intercompany payments | — | (41,854 | ) | (5,604 | ) | 47,458 | — | ||||||||||||||
Intercompany proceeds | 47,458 | — | — | (47,458 | ) | — | |||||||||||||||
Net cash used in financing activities - continuing operations | (32,088 | ) | (41,879 | ) | (5,604 | ) | — | (79,571 | ) | ||||||||||||
Net cash provided by financing activities - discontinued operations | — | — | — | — | — | ||||||||||||||||
Total cash used in financing activities | $ | (32,088 | ) | $ | (41,879 | ) | $ | (5,604 | ) | $ | — | $ | (79,571 | ) | |||||||
Effect of exchange rate on cash | — | — | (26 | ) | — | (26 | ) | ||||||||||||||
Net decrease in cash and cash equivalents | (845 | ) | (8,245 | ) | (14,213 | ) | — | (23,303 | ) | ||||||||||||
Cash and cash equivalents at beginning of period | 111,305 | 5,889 | 34,792 | — | 151,986 | ||||||||||||||||
Less: Change in cash and cash equivalents - discontinued operations | — | 8,916 | — | — | 8,916 | ||||||||||||||||
Plus: Cash swept to discontinued operations | (2,408 | ) | 11,274 | — | — | 8,866 | |||||||||||||||
Cash and cash equivalents at end of period | $ | 108,052 | $ | 2 | $ | 20,579 | $ | — | $ | 128,633 | |||||||||||
Basis_of_Condensed_Consolidate2
Basis of Condensed Consolidated Financial Statements (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 |
Minimum [Member] | Maximum [Member] | |||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | ($40,285,000) | ($50,787,000) | ' | ' |
Escrow deposit | 4,100,000,000 | 317,200,000 | ' | ' |
Escrow deposits, period held by the Company (in business days) | ' | ' | '2 days | '5 days |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -633,000 | -568,000 | ' | ' |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | 0 | -2,482,000 | ' | ' |
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 318,000 | 248,000 | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ($40,600,000) | ($53,589,000) | ' | ' |
Investments_in_Affiliates_Deta
Investments in Affiliates (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Schedule of Investments [Line Items] | ' | ' | ' |
Equity in (losses)/earnings of affiliates, net of tax | $2,382,000 | $8,788,000 | ' |
Income tax of equity in earnings of affiliates | 1,500,000 | 5,400,000 | ' |
Ownership percentage in joint venture | 0.00% | ' | ' |
Assumed ownership percentage for affiliate | 100.00% | ' | ' |
Equity Method Investment, Summarized Financial Information, Gross Profit (Loss) [Abstract] | ' | ' | ' |
Equity Method Investments | 112,885,000 | ' | 95,343,000 |
Joint Venture Loan Originations Products and Services [Member] | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' |
Ownership percentage in joint venture | 50.10% | ' | ' |
Joint venture investment percentage of income in equity earnings of affiliates | 87.60% | 69.80% | ' |
Equity Method Investment, Summarized Financial Information, Gross Profit (Loss) [Abstract] | ' | ' | ' |
Net revenues | 47,523,000 | 93,184,000 | ' |
Expenses | 40,808,000 | 72,772,000 | ' |
Net Income | 6,715,000 | 20,412,000 | ' |
CoreLogic equity in earnings of affiliate, pre-tax | 3,364,000 | 10,226,000 | ' |
RELS Reporting Services, LLC [Member] | ' | ' | ' |
Equity Method Investment, Summarized Financial Information, Gross Profit (Loss) [Abstract] | ' | ' | ' |
Prior Period Reclassification Adjustment | ' | 1,800,000 | ' |
Symbility [Domain] | ' | ' | ' |
Equity Method Investment, Summarized Financial Information, Gross Profit (Loss) [Abstract] | ' | ' | ' |
Equity Method Investments | $18,300,000 | ' | ' |
Marketable_Securities_Investme
Marketable Securities (Investments) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Marketable securities | $22,334 | $22,220 |
Property_and_Equipment_Net_Det
Property and Equipment, Net (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | $833,285,000 | ' | $635,237,000 |
Less: accumulated depreciation | -458,110,000 | ' | -439,592,000 |
Property and equipment, net | 375,175,000 | ' | 195,645,000 |
Depreciation and amortization | 13,800,000 | 18,300,000 | ' |
Land [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 4,000,000 | ' | 4,000,000 |
Buildings [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 11,010,000 | ' | 10,780,000 |
Furniture and equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 99,352,000 | ' | 88,794,000 |
Capitalized software [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 667,369,000 | ' | 481,662,000 |
Leasehold improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | $51,554,000 | ' | $50,001,000 |
Goodwill_Details
Goodwill (Details) (USD $) | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||
Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Sep. 30, 2012 | |
Data and analytics [Member] | Data and analytics [Member] | Mortgage origination services [Member] | Mortgage origination services [Member] | MSB/DQ Member [Domain] | MSB/DQ Member [Domain] | Terralink [Domain] | Insignificant Acquisition [Domain] | Swap [Member] | Swap [Member] | |||
Data and analytics [Member] | Data and analytics [Member] | Data and analytics [Member] | ||||||||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($100,000) | ($300,000) |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | 1,398,199,000 | ' | 689,442,000 | ' | 708,757,000 | ' | ' | ' | ' | ' | ' |
Accumulated impairment losses | ' | -7,525,000 | ' | -600,000 | ' | -6,925,000 | ' | ' | ' | ' | ' | ' |
Goodwill, net | 1,765,932,000 | 1,390,674,000 | 1,034,200,000 | 688,842,000 | 731,732,000 | 701,832,000 | ' | ' | ' | ' | ' | ' |
Acquisitions | 367,278,000 | ' | 337,378,000 | ' | 29,900,000 | ' | 363,295,000 | 333,500,000 | 2,100,000 | 1,700,000 | ' | ' |
Translation adjustments | 5,665,000 | ' | 5,665,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Other Changes | 2,315,000 | ' | -2,315,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Goodwill, net | $1,765,932,000 | $1,390,674,000 | $1,034,200,000 | $688,842,000 | $731,732,000 | $701,832,000 | ' | ' | ' | ' | ' | ' |
Other_Intangible_Assets_Net_Sc
Other Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets by Major Class) (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Other intangible assets, gross | $494,319,000 | ' | $355,897,000 |
Less accumulated amortization | -188,384,000 | ' | -180,089,000 |
Total | 305,935,000 | ' | 175,808,000 |
Amortization expense for finite-lived intangible assets | 7,600,000 | 8,500,000 | ' |
Customer Lists [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Other intangible assets, gross | 390,566,000 | ' | 315,639,000 |
Less accumulated amortization | -169,292,000 | ' | -162,278,000 |
Total | 221,274,000 | ' | 153,361,000 |
Noncompete Agreements [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Other intangible assets, gross | 9,142,000 | ' | 9,150,000 |
Less accumulated amortization | -6,869,000 | ' | -6,659,000 |
Total | 2,273,000 | ' | 2,491,000 |
Trade Names [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Other intangible assets, gross | 94,611,000 | ' | 31,108,000 |
Less accumulated amortization | -12,223,000 | ' | -11,152,000 |
Total | $82,388,000 | ' | $19,956,000 |
Other_Intangible_Assets_Net_Fi
Other Intangible Assets, Net (Finite Lived Intangible Asset Future Amortization Expense) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | ' | ' |
2014 | $33,653 | ' |
2015 | 40,083 | ' |
2016 | 33,666 | ' |
2017 | 32,792 | ' |
2018 | 31,728 | ' |
Thereafter | 134,013 | ' |
Total | $305,935 | $175,808 |
LongTerm_Debt_Details
Long-Term Debt (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | 21-May-11 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2016 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2011 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
STARS [Member] | Senior Note June 2021 [Member] | Multi Currency Sub Facility [Member] | Letter Of Credit Sub Facility [Member] | Contingent Credit Agreement Term Loan Facility [Member] | Contingent Credit Agreement Revolving Facility [Domain] | Term Loan due March 2019 [Member] [Domain] | Acquisition Notes [Member] | Acquisition Notes [Member] | Acquisition Notes [Member] | Acquisition Notes [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Bank Loans [Member] | Bank Loans [Member] | Bank Loans [Member] | Bank Loans [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Other Current Assets [Member] | ||||
Non Interest Bearing Acquisition Note [Member] | Non Interest Bearing Acquisition Note [Member] | Non Interest Bearing Acquisition Note [Member] | Non Interest Bearing Acquisition Note [Member] | Senior Note June 2021 [Member] | Senior Note June 2021 [Member] | Senior Debentures August 2014 [Member] | Senior Debentures August 2014 [Member] | Senior Debentures April 2028 [Member] | Senior Debentures April 2028 [Member] | Revolving Line of Credit March 2019 [Domain] | Revolving Line of Credit March 2019 [Domain] | Revolving Line of Credit March 2016 [Member] | Revolving Line of Credit March 2016 [Member] | Term Loan due March 2019 [Member] [Domain] | Term Loan due March 2019 [Member] [Domain] | Term Loan due March 2016 [Member] | Term Loan due March 2016 [Member] | Various Interest Rate Loans [Member] | Various Interest Rate Loans [Member] | ||||||||||||
STARS [Member] | |||||||||||||||||||||||||||||||
Long-Term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term Debt | $1,524,549,000 | ' | $839,930,000 | ' | ' | ' | ' | ' | ' | ' | ' | $4,408,000 | $9,276,000 | ' | $393,000,000 | $393,000,000 | $825,000 | $825,000 | $59,645,000 | $59,645,000 | $215,000,000 | $0 | $0 | $100,000,000 | $850,000,000 | $0 | $0 | $275,625,000 | $1,671,000 | $1,559,000 | ' |
Less current portion of long-term debt | 43,874,000 | ' | 28,154,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, net of current portion | 1,480,675,000 | ' | 811,776,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate Swap realized Gain Loss | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, amount of installment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, stated interest rate percentage | ' | ' | ' | ' | 7.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.25% | ' | 5.70% | ' | 7.55% | ' | 3.35% | ' | 1.90% | ' | 2.80% | ' | ' | 2.90% | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term facility, maximum borrowing capacity | ' | ' | ' | ' | ' | 100,000,000 | 50,000,000 | 850,000,000 | 550,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential Increase to Term Loan and Line of Credit | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest expense | 12,600,000 | ' | 4,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Issuance Cost | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense, Debt | 16,828,000 | 12,375,000 | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Debt Issuance Costs | 14,042,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,700,000 |
Deferred Costs, Current | 5,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of Deferred Debt Issuance Cost | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to acquire interest in joint venture | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate Swap Unrealized Gain Loss | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Interest_Rate_Sw
Long-Term Debt (Interest Rate Swaps) (Details) (USD $) | 3 Months Ended | 3 Months Ended | |||
Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Sep. 30, 2012 | |
Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | ||
Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Inputs, Level 2 [Member] | |||||
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | ' | ($4,020,000) | ' | ' | ' |
Market value adjustments on interest rate swap, net of tax | 100,000 | ' | -73,000 | 554,000 | ' |
Deferred Taxes Pertaining To Other Comprehensive Income Relating to Swaps | ' | ' | $100,000 | ' | $300,000 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Effective Income Tax Rate [Abstract] | ' | ' |
Effective income tax rate, continuing operations | 5.70% | 38.40% |
Income tax of equity in earnings of affiliates | $1.50 | $5.40 |
Unrecognized Tax Benefits | $0.30 | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Numerator for basic and diluted net (loss)/income per share: | ' | ' |
Net income/(loss) from continuing operations | ($3,875) | $31,615 |
Income from discontinued operations, net of tax | 1,083 | 3,697 |
Less: (Loss)/gain from sale of discontinued operations, net of tax | 0 | -1,744 |
Net (loss)/income attributable to CoreLogic | ($2,792) | $33,568 |
Denominator for basic and diluted net (loss)/income per share: | ' | ' |
Weighted-average shares for basic income/(loss) per share | 91,433 | 97,113 |
Diluted effect of stock options and restricted stock units | 0 | 1,943 |
Weighted-average shares for diluted income/(loss) per share | 91,433 | 99,056 |
Earnings Per Share, Basic | ' | ' |
Net income/(loss) from continuing operations | ($0.04) | $0.33 |
Gain/(loss) from discontinued operations, net of tax | $0.01 | $0.04 |
Gain from sale of discontinued operations, net of tax | $0 | ($0.02) |
Net income/(loss) attributable to Corelogic | ($0.03) | $0.35 |
Earnings Per Share, Diluted | ' | ' |
Net income/(loss) from continuing operations | ($0.04) | $0.32 |
Gain/(loss) from discontinued operations, net of tax | $0.01 | $0.04 |
Gain from sale of discontinued operations, net of tax | $0 | ($0.02) |
Net income/(loss) attributable to Corelogic | ($0.03) | $0.34 |
Earnings_Per_Share_Antidilutiv
Earnings Per Share (Antidilutive Shares) (Details) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2013 |
Earnings Per Share [Abstract] | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0.3 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Property and equipment [Member] | Property and equipment [Member] | Equity Method Investments [Member] | Total [Member] | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets of Disposal Group, Including Discontinued Operation, Current | $134,315 | $138,023 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Nonrecurring Basis, Asset, Gain (Loss) Included in Earnings | ' | ' | 508 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 148 | 844 | 360 | ' |
Equity Method Investments | 112,885 | 95,343 | ' | 0 | ' | 0 | ' | 30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 |
Finite-Lived Intangible Assets, Net | 305,935 | 175,808 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, net | 375,175 | 195,645 | ' | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial Assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | 122,906 | 134,741 | 0 | 0 | 122,906 | 134,741 | ' | ' | ' | ' | ' | ' | ' |
Restricted cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 12,630 | 12,050 | 12,630 | 12,050 | ' | ' | ' | ' | ' | ' | ' |
Equity securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,334 | 22,220 | 0 | 0 | 22,334 | 22,220 | ' | ' | ' | ' | ' | ' | ' |
Total Financial Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 145,240 | 156,961 | 12,630 | 12,050 | 157,870 | 169,011 | ' | ' | ' | ' | ' | ' | ' |
Financial Liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 1,544,009 | 869,232 | 1,544,009 | 869,232 | ' | ' | ' | ' | ' | ' | ' |
Total Financial Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 1,544,009 | 869,232 | 1,544,009 | 869,232 | ' | ' | ' | ' | ' | ' | ' |
Interest rate swap agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ($4,020) | $4,020 | ' | ' | ' | ' |
StockBased_Compensation_Restri
Stock-Based Compensation (Restricted Stock Units and PBRSU) (Details) (USD $) | 3 Months Ended | |||||||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | 19-May-11 | ||
Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock [Member] | PBRSU [Member] | PBRSU [Member] | CoreLogic 2011 Performance Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ||
Number of additional shares available in award pool | ' | ' | ' | ' | ' | 18,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | ' | ' | 0.00% | 0.00% | ' | ||
Number of Shares | ' | ' | ' | ' | ' | ' | ||
Outstanding, Beginning of Period | 1,466,000 | ' | ' | 1,247,000 | ' | ' | ||
Granted | 657,932 | 593,164 | ' | 330,075 | 390,091 | ' | ||
Vested | -497,000 | ' | ' | -612,000 | ' | ' | ||
Forfeited | -29,000 | ' | ' | -11,000 | ' | ' | ||
Outstanding, End of Period | 1,598,000 | ' | ' | 954,000 | ' | ' | ||
Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ||
Weighted Average Grant Date Fair Value, Beginning Balance | $22.13 | ' | ' | $18.52 | ' | ' | ||
Granted, Weighted Average Grant Date Fair Value | $30.72 | ' | ' | $31.57 | ' | ' | ||
Vested, Weighted Average Grant Date Fair Value | $20.11 | ' | ' | $16.92 | ' | ' | ||
Forfeited, Weighted Average Exercise Price | $22.45 | ' | ' | $19.81 | ' | ' | ||
Weighted Average Grant Date Fair Value, Ending Balance | $26.28 | ' | ' | $22.02 | ' | ' | ||
Restricted stock units, estimated grant date fair value | $20.20 | $15.50 | ' | $10.40 | $10.20 | ' | ||
Total unrecognized compensation cost related to unvested awards | ' | ' | $33.10 | $16.40 | ' | ' | ||
Nonvested awards, weighted average remaining period (in years) | ' | ' | '2 years 5 months 0 days | '2 years 3 months 4 days | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | ' | ' | 0.70% | [1] | 0.35% | [1] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | ' | ' | 27.87% | [2] | 30.59% | [2] | ' |
Share-based Compensation Arrangement, Fair Value, Average Shareholder Return [Abstract] | ' | ' | ' | -0.84% | [2] | 8.21% | [2] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' | ' | ' | ' | ||
[1] | The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. | |||||||
[2] | The expected volatility and average total shareholder return is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate based primarily on our and our peers' historical data. |
StockBased_Compensation_Weight
Stock-Based Compensation (Weighted Average Assumptions) (Details) (Stock Options [Member]) | 3 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | |||
Stock Options [Member] | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ||
Expected dividend yield | 0.00% | 0.00% | ||
Risk-free interest rate | 1.74% | [1] | 0.90% | [1] |
Expected volatility | 37.92% | [2] | 41.65% | [2] |
Expected life | '5 years 5 months 19 days | [3] | '5 years 6 months | [3] |
[1] | The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. | |||
[2] | The expected volatility is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate based primarily on our and our peers' historical data. | |||
[3] | The expected life is the period of time, on average, that participants are expected to hold their options before exercise based primarily onB our historical data. |
StockBased_Compensation_Option
Stock-Based Compensation (Options) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Employee Stock Purchase Plan | ' | ' |
Employee Stock Purchase Plan Percent of Stock Price At Closing Date | 85.00% | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | '10 years |
Stock Options [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Estimated Value Granted During Period | $7,700,000 | $10,500,000 |
Number of Shares | ' | ' |
Options outstanding, beginning balance | 2,663,000 | ' |
Options granted | 242,687 | 402,511 |
Options exercised | -70,000 | ' |
Options canceled | -16,000 | ' |
Options outstanding, ending balance | 2,820,000 | ' |
Options vested and expected to vest, outstanding | 2,771,000 | ' |
Options exercisable, end of period | 1,914,000 | ' |
Weighted Average Exercise Price | ' | ' |
Options outstanding, Weighted Average Exercise Price, beginning balance | $21.12 | ' |
Options granted, Weighted Average Exercise Price | $31.59 | ' |
Options exercised, Weighted Average Exercise Price | $17.50 | ' |
Options canceled, Weighted Average Exercise Price | $20.66 | ' |
Options outstanding, Weighted Average Exercise Price, ending balance | $22.11 | ' |
Options vested and expected to vest, Weighted Average Exercise Price | $22.02 | ' |
Options exercisable, Weighted Average Exercise Price, end of period | $21.37 | ' |
Weighted Average Remaining Contractual Term | ' | ' |
Options outstanding, Weighted Average Remaining Contractual Term (in years) | '5 years 6 months 1 day | ' |
Options vested and expected to vest, Weighted Average Remaining Contractual Term (in years) | '5 years 5 months 8 days | ' |
Option exercisable, Weighted Average Remaining Contractual Term (in years) | '4 years 1 month 25 days | ' |
Aggregate Intrinsic Value | ' | ' |
Options outstanding, Aggregate Intrinsic Value | 22,775,000 | ' |
Options vested and expected to vest, Aggregate Intrinsic Value | 22,600,000 | ' |
Options exercisable, Aggregate Intrinsic Value | 16,590,000 | ' |
Unrecognized Compensation Cost | ' | ' |
Total unrecognized compensation cost related to unvested awards | 6,200,000 | ' |
Nonvested awards, weighted average remaining period (in years) | '2 years 2 months 24 days | ' |
Intrinsic value of stock options exercised | $1,000,000 | $1,500,000 |
StockBased_Compensation_Compen
Stock-Based Compensation (Compensation Expense) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | $8,086 | $8,142 |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 5,473 | 5,100 |
PBRSU [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 1,243 | 2,155 |
Stock Options [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 1,105 | 683 |
Employee Stock Purchase Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 265 | 204 |
Cost of Services [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 300 | 100 |
Discontinued Operations [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | $100 | $100 |
Litigation_and_Regulatory_Cont1
Litigation and Regulatory Contingencies (Details) (USD $) | Mar. 31, 2014 | Dec. 04, 2012 | Jun. 20, 2013 | Dec. 31, 2011 | Apr. 25, 2012 | Feb. 06, 2012 | Nov. 01, 2011 |
Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | ||
loans | loans | Claims | loans | ||||
Loss Contingency Accrual, at Carrying Value | $0 | ' | ' | ' | ' | ' | ' |
Number of Residential Mortgage Loans Involved in Breach of Contract in Appraisal Services | ' | 160 | 146 | ' | ' | ' | 194 |
Loss Contingency, Damages Sought, Value | ' | 108,000,000 | 98,900,000 | 129,000,000 | ' | ' | ' |
Number of Mortgage claims dismissed | ' | ' | 14 | ' | ' | ' | ' |
Breach Of Contract Claim | ' | ' | ' | ' | $16,000,000 | ' | ' |
Number Of Breach Of Contract Claims Related To Appraisal Services | ' | ' | ' | ' | ' | 26 | ' |
Acquisitions_Details
Acquisitions (Details) | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||||||||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 01, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | MSB/DQ Member [Domain] | PIQ Acquisition [Domain] | PIQ Acquisition [Domain] | PIQ Acquisition [Domain] | Terralink [Domain] | Terralink [Domain] | Terralink [Domain] | Terralink [Domain] | Terralink [Domain] | Terralink [Domain] | EQECAT Acquisition [Member] | EQECAT Acquisition [Member] | EQECAT Acquisition [Member] | Data and analytics [Member] | Data and analytics [Member] | Data and analytics [Member] | Data and analytics [Member] | Parent [Member] | Parent [Member] | Parent [Member] | Guarantor Subsidiaries [Member] | Guarantor Subsidiaries [Member] | Guarantor Subsidiaries [Member] | Non-Guarantor Subsidiaries [Member] | Non-Guarantor Subsidiaries [Member] | Non-Guarantor Subsidiaries [Member] | Consolidation, Eliminations [Member] | Consolidation, Eliminations [Member] | Consolidation, Eliminations [Member] | |
USD ($) | USD ($) | NZD | USD ($) | NZD | Property, Plant and Equipment [Member] | Capital Data And Database Developement Costs [Domain] | Trade Names [Member] | Customer Lists [Member] | USD ($) | Trade Names [Member] | Customer Lists [Member] | USD ($) | USD ($) | MSB/DQ Member [Domain] | Terralink [Domain] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect of exchange rate on cash | $482,000 | ($26,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | $0 | $0 | ' | $482,000 | ($26,000) | ' | $0 | $0 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquired Receivables, Gross Contractual Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,227,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,047,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Intangible Assets Acquired, Deferred Tax Asset Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,848,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 177,311,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,821,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Pro Forma Revenue | 332,801,000 | 356,925,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | ' | 650,100,000 | 2,600,000 | 3,300,000 | ' | 11,900,000 | 14,500,000 | ' | ' | ' | ' | 22,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired finite-lived ntangible asset, weighted average useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '15 years | '12 years | '15 years | ' | '10 years | '14 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | 2,100,000 | 6,000,000 | 200,000 | ' | 600,000 | ' | ' | ' | ' | 129,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Intangible Assets Acquired, equity method investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,446,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Income Tax Payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,403,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
business acquisition, recognized identifiable assets acquired, deferred revenue non current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,663,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 650,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Goodwill, Expected Tax Deductible Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 701,464,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price allocation, goodwill | 1,765,932,000 | ' | 1,390,674,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,034,200,000 | 688,842,000 | ' | ' | 0 | ' | 0 | 1,579,527,000 | ' | 1,228,855,000 | 186,405,000 | ' | 161,819,000 | 0 | ' | 0 |
Goodwill, Acquired During Period | 367,278,000 | ' | ' | 363,295,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,300,000 | ' | ' | 337,378,000 | ' | 333,500,000 | 2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Goodwill, Expected Tax Deductible Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 133,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Customer Lists, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Pro Forma Net Income (Loss) | 6,325,000 | 23,815,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquisition Related Costs | $8,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable_Noncontrolling_Inte1
Redeemable Noncontrolling Interest (Details) | 3 Months Ended | ||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 01, 2013 | Sep. 01, 2013 |
USD ($) | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | |
USD ($) | NZD | USD ($) | NZD | ||
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | ' | ' | ' | 10.00% | 10.00% |
Payments to Acquire Businesses, Gross | ' | $2.60 | 3.3 | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest | ' | ' | ' | 10.2 | 13.2 |
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | $0.30 | ' | ' | ' | ' |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Income Statement [Abstract] | ' | ' | ' |
(Loss)/income from discontinued operations, net of tax | $1,083,000 | $3,697,000 | ' |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 1,083,000 | 3,697,000 | ' |
Goodwill, Impairment Loss | ' | ' | 51,800,000 |
Components Total [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 29,460,000 | ' | 32,811,000 |
Disposal Group, Including Discontinued Operation, Other Current Assets | 3,608,000 | ' | 3,578,000 |
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | 3,160,000 | ' | 3,594,000 |
Disposal Group, Including Discontinued Operation, Goodwill Intangibles and Other Intangibles | 97,577,000 | ' | 97,577,000 |
Disposal Group, Including Discontinued Operation, Other Assets | 510,000 | ' | 463,000 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Total assets | 134,315,000 | ' | 138,023,000 |
Disposal Group, Including Discontinued Operation, Accounts Payable | 13,206,000 | ' | 13,496,000 |
Disposal Group, Including Discontinued Operation, Other Liabilities | 16,213,000 | ' | 16,813,000 |
Total liabilities | 29,419,000 | ' | 30,309,000 |
Income Statement [Abstract] | ' | ' | ' |
Operating revenue | 42,792,000 | 65,868,000 | ' |
(Loss)/income from discontinued operation before income taxes | 1,767,000 | 6,919,000 | ' |
Income tax expense/(benefit) | 684,000 | 3,222,000 | ' |
(Loss)/income from discontinued operations, net of tax | 1,083,000 | 3,697,000 | ' |
Data and analytics [Member] | Marketing [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Other Current Assets | 177,000 | ' | 177,000 |
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Goodwill Intangibles and Other Intangibles | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Other Assets | 0 | ' | 0 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Total assets | 177,000 | ' | 177,000 |
Disposal Group, Including Discontinued Operation, Accounts Payable | 397,000 | ' | 676,000 |
Disposal Group, Including Discontinued Operation, Other Liabilities | 222,000 | ' | 259,000 |
Total liabilities | 619,000 | ' | 935,000 |
Income Statement [Abstract] | ' | ' | ' |
Operating revenue | 0 | 0 | ' |
(Loss)/income from discontinued operation before income taxes | -250,000 | -110,000 | ' |
Income tax expense/(benefit) | -96,000 | -42,000 | ' |
(Loss)/income from discontinued operations, net of tax | -154,000 | -68,000 | ' |
Data and analytics [Member] | Consumer [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Other Current Assets | 149,000 | ' | 149,000 |
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Goodwill Intangibles and Other Intangibles | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Other Assets | 0 | ' | 0 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Total assets | 149,000 | ' | 149,000 |
Disposal Group, Including Discontinued Operation, Accounts Payable | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Other Liabilities | 88,000 | ' | 88,000 |
Total liabilities | 88,000 | ' | 88,000 |
Income Statement [Abstract] | ' | ' | ' |
Operating revenue | 0 | 0 | ' |
(Loss)/income from discontinued operation before income taxes | 0 | 196,000 | ' |
Income tax expense/(benefit) | 0 | 75,000 | ' |
(Loss)/income from discontinued operations, net of tax | 0 | 121,000 | ' |
Mortgage origination services [Member] | Discontinued Operations Appraisal [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Other Current Assets | 200,000 | ' | 200,000 |
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Goodwill Intangibles and Other Intangibles | 0 | ' | 0 |
Disposal Group, Including Discontinued Operation, Other Assets | 0 | ' | 0 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Total assets | 200,000 | ' | 200,000 |
Disposal Group, Including Discontinued Operation, Accounts Payable | 3,519,000 | ' | 3,127,000 |
Disposal Group, Including Discontinued Operation, Other Liabilities | 559,000 | ' | 568,000 |
Total liabilities | 4,078,000 | ' | 3,695,000 |
Income Statement [Abstract] | ' | ' | ' |
Operating revenue | 0 | 0 | ' |
(Loss)/income from discontinued operation before income taxes | -600,000 | -1,148,000 | ' |
Income tax expense/(benefit) | -229,000 | -439,000 | ' |
(Loss)/income from discontinued operations, net of tax | -371,000 | -709,000 | ' |
Asset Management and Processing Solutions [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 29,460,000 | ' | 32,811,000 |
Disposal Group, Including Discontinued Operation, Other Current Assets | 3,082,000 | ' | 3,052,000 |
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | 3,160,000 | ' | 3,594,000 |
Disposal Group, Including Discontinued Operation, Goodwill Intangibles and Other Intangibles | 97,577,000 | ' | 97,577,000 |
Disposal Group, Including Discontinued Operation, Other Assets | 510,000 | ' | 463,000 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Total assets | 133,789,000 | ' | 137,497,000 |
Disposal Group, Including Discontinued Operation, Accounts Payable | 9,290,000 | ' | 9,693,000 |
Disposal Group, Including Discontinued Operation, Other Liabilities | 15,344,000 | ' | 15,898,000 |
Total liabilities | 24,634,000 | ' | ' |
Income Statement [Abstract] | ' | ' | ' |
Operating revenue | 42,792,000 | 65,868,000 | ' |
(Loss)/income from discontinued operation before income taxes | 2,617,000 | 7,981,000 | ' |
Income tax expense/(benefit) | 1,009,000 | 3,628,000 | ' |
(Loss)/income from discontinued operations, net of tax | 1,608,000 | 4,353,000 | ' |
Asset Management and Processing Solutions [Member] | Asset Management and Processing Solutions [Member] | ' | ' | ' |
Statement of Financial Position [Abstract] | ' | ' | ' |
Total liabilities | ' | ' | $25,591,000 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of reportable segments | 2 | ' | ' |
Operating Revenue | $310,417,000 | $331,301,000 | ' |
Depreciation and amortization | 29,439,000 | 34,141,000 | ' |
Income From Continuing Operations | 13,653,000 | 47,335,000 | ' |
Equity in Earnings of Affiliates, Net of Tax | 2,382,000 | 8,788,000 | ' |
Net Income From Continuing Operations | -3,611,000 | 31,589,000 | ' |
Capital Expenditures | 20,612,000 | 27,539,000 | ' |
Assets | 3,585,703,000 | ' | 2,865,332,000 |
Data and analytics [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Segment reporting intercompany revenue | 800,000 | 3,500,000 | ' |
Segment reporting intercompany expense | -200,000 | -1,400,000 | ' |
Operating Revenue | 142,533,000 | 145,515,000 | ' |
Depreciation and amortization | 20,537,000 | 19,519,000 | ' |
Income From Continuing Operations | 16,674,000 | 25,252,000 | ' |
Equity in Earnings of Affiliates, Net of Tax | -13,000 | 637,000 | ' |
Net Income From Continuing Operations | 16,638,000 | 26,046,000 | ' |
Capital Expenditures | 12,622,000 | 13,160,000 | ' |
Assets | 2,013,302,000 | ' | 1,325,253,000 |
Mortgage origination services [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Segment reporting intercompany revenue | 700,000 | 700,000 | ' |
Segment reporting intercompany expense | 700,000 | 3,300,000 | ' |
Operating Revenue | 169,309,000 | 189,901,000 | ' |
Depreciation and amortization | 5,968,000 | 6,703,000 | ' |
Income From Continuing Operations | 23,730,000 | 49,856,000 | ' |
Equity in Earnings of Affiliates, Net of Tax | 3,976,000 | 13,447,000 | ' |
Net Income From Continuing Operations | 27,572,000 | 63,173,000 | ' |
Capital Expenditures | 2,654,000 | 4,248,000 | ' |
Assets | 1,172,696,000 | ' | 1,139,420,000 |
Corporate Segment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Operating Revenue | 58,000 | 167,000 | ' |
Depreciation and amortization | 2,934,000 | 7,919,000 | ' |
Income From Continuing Operations | -26,751,000 | -27,773,000 | ' |
Equity in Earnings of Affiliates, Net of Tax | -1,581,000 | -5,296,000 | ' |
Net Income From Continuing Operations | -47,821,000 | -57,630,000 | ' |
Capital Expenditures | 5,336,000 | 10,131,000 | ' |
Intersegment Eliminations [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Operating Revenue | -1,483,000 | -4,282,000 | ' |
Depreciation and amortization | 0 | 0 | ' |
Income From Continuing Operations | 0 | 0 | ' |
Equity in Earnings of Affiliates, Net of Tax | 0 | 0 | ' |
Net Income From Continuing Operations | 0 | 0 | ' |
Capital Expenditures | 0 | 0 | ' |
Assets | -4,749,726,000 | ' | -4,098,281,000 |
Corporate Level [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Assets | $5,149,431,000 | ' | $4,498,940,000 |
Guarantor_Subsidiaries_Balance
Guarantor Subsidiaries (Balance Sheet) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $122,906 | $134,741 | $128,633 | $151,986 |
Accounts receivable (less allowance for doubtful accounts of $12,062 and $12,930 as of March 31, 2014 and December 31, 2013, respectively) | 194,024 | 196,282 | ' | ' |
Property and equipment, net | 375,175 | 195,645 | ' | ' |
Goodwill | 1,765,932 | 1,390,674 | ' | ' |
Other intangible assets, net | 305,935 | 175,808 | ' | ' |
Capitalized data and database costs, net | 338,983 | 330,188 | ' | ' |
Investment in affiliates, net | 112,885 | 95,343 | ' | ' |
Restricted cash | 12,630 | 12,050 | ' | ' |
Other assets | 176,017 | 162,033 | ' | ' |
Total assets | 3,720,018 | 3,003,355 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Current liabilities | 558,098 | 538,027 | ' | ' |
Long-term debt, net | 1,480,675 | 811,776 | ' | ' |
Deferred revenue | 363,852 | 377,086 | ' | ' |
Deferred income taxes, long term | 100,105 | 74,308 | ' | ' |
Other liabilities | 162,656 | 147,583 | ' | ' |
Redeemable noncontrolling interests | 10,439 | 10,202 | ' | ' |
Total liabilities and equity | 3,720,018 | 3,003,355 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 82,476 | 104,632 | 108,052 | 111,305 |
Accounts receivable (less allowance for doubtful accounts of $12,062 and $12,930 as of March 31, 2014 and December 31, 2013, respectively) | 0 | 0 | ' | ' |
Other current assets | 64,902 | 57,368 | ' | ' |
Property and equipment, net | 19,766 | 20,076 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Other intangible assets, net | 333 | 348 | ' | ' |
Capitalized data and database developement costs net | 0 | 0 | ' | ' |
Investment in affiliates, net | 0 | 0 | ' | ' |
Deferred income tax assets, long-term | 58,998 | 58,998 | ' | ' |
Restricted cash | 11,035 | 10,335 | ' | ' |
Investments in subsidiaries | 2,239,138 | 2,209,926 | ' | ' |
Intercompany Receivable | 164,495 | 63,647 | ' | ' |
Other assets | 135,748 | 118,708 | ' | ' |
Total assets | 2,776,891 | 2,644,038 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Current liabilities | 129,838 | 107,340 | ' | ' |
Long-term debt, net | 1,475,145 | 806,395 | ' | ' |
Deferred revenue | 0 | 0 | ' | ' |
Deferred income taxes, long term | 0 | 0 | ' | ' |
Intercompany Payable | 0 | 564,386 | ' | ' |
Other liabilities | 127,715 | 121,544 | ' | ' |
Redeemable noncontrolling interests | 0 | 0 | ' | ' |
Total Corelogic's stockholders' equity | 1,044,193 | 1,044,373 | ' | ' |
Total liabilities and equity | 2,776,891 | 2,644,038 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 8,794 | 0 | 2 | 5,889 |
Accounts receivable (less allowance for doubtful accounts of $12,062 and $12,930 as of March 31, 2014 and December 31, 2013, respectively) | 167,842 | 174,518 | ' | ' |
Other current assets | 248,677 | 249,680 | ' | ' |
Property and equipment, net | 324,679 | 147,951 | ' | ' |
Goodwill | 1,579,527 | 1,228,855 | ' | ' |
Other intangible assets, net | 260,072 | 135,326 | ' | ' |
Capitalized data and database developement costs net | 250,294 | 249,472 | ' | ' |
Investment in affiliates, net | 112,885 | 95,343 | ' | ' |
Deferred income tax assets, long-term | 0 | 0 | ' | ' |
Restricted cash | 121 | 306 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Intercompany Receivable | 0 | 555,216 | ' | ' |
Other assets | 38,009 | 41,221 | ' | ' |
Total assets | 2,990,900 | 2,877,888 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Current liabilities | 388,407 | 397,481 | ' | ' |
Long-term debt, net | 5,530 | 5,381 | ' | ' |
Deferred revenue | 363,844 | 377,077 | ' | ' |
Deferred income taxes, long term | 134,800 | 109,003 | ' | ' |
Intercompany Payable | 87,936 | 0 | ' | ' |
Other liabilities | 31,404 | 22,768 | ' | ' |
Redeemable noncontrolling interests | 0 | 0 | ' | ' |
Total Corelogic's stockholders' equity | 1,978,979 | 1,966,178 | ' | ' |
Total liabilities and equity | 2,990,900 | 2,877,888 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 31,636 | 30,109 | 20,579 | 34,792 |
Accounts receivable (less allowance for doubtful accounts of $12,062 and $12,930 as of March 31, 2014 and December 31, 2013, respectively) | 26,182 | 21,764 | ' | ' |
Other current assets | 4,183 | 3,543 | ' | ' |
Property and equipment, net | 30,730 | 27,618 | ' | ' |
Goodwill | 186,405 | 161,819 | ' | ' |
Other intangible assets, net | 45,530 | 40,134 | ' | ' |
Capitalized data and database developement costs net | 88,689 | 80,716 | ' | ' |
Investment in affiliates, net | 0 | 0 | ' | ' |
Deferred income tax assets, long-term | 0 | 0 | ' | ' |
Restricted cash | 1,474 | 1,409 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Intercompany Receivable | 0 | 9,170 | ' | ' |
Other assets | 2,260 | 2,104 | ' | ' |
Total assets | 417,089 | 378,386 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Current liabilities | 42,084 | 33,206 | ' | ' |
Long-term debt, net | 0 | 0 | ' | ' |
Deferred revenue | 8 | 9 | ' | ' |
Deferred income taxes, long term | 24,303 | 24,303 | ' | ' |
Intercompany Payable | 76,559 | 63,647 | ' | ' |
Other liabilities | 3,537 | 3,271 | ' | ' |
Redeemable noncontrolling interests | 10,439 | 10,202 | ' | ' |
Total Corelogic's stockholders' equity | 260,159 | 243,748 | ' | ' |
Total liabilities and equity | 417,089 | 378,386 | ' | ' |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable (less allowance for doubtful accounts of $12,062 and $12,930 as of March 31, 2014 and December 31, 2013, respectively) | 0 | 0 | ' | ' |
Other current assets | -2,231 | 0 | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Other intangible assets, net | 0 | 0 | ' | ' |
Capitalized data and database developement costs net | 0 | 0 | ' | ' |
Investment in affiliates, net | 0 | 0 | ' | ' |
Deferred income tax assets, long-term | -58,998 | -58,998 | ' | ' |
Restricted cash | 0 | 0 | ' | ' |
Investments in subsidiaries | -2,239,138 | -2,209,926 | ' | ' |
Intercompany Receivable | -164,495 | -628,033 | ' | ' |
Other assets | 0 | 0 | ' | ' |
Total assets | -2,464,862 | -2,896,957 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Current liabilities | -2,231 | 0 | ' | ' |
Long-term debt, net | 0 | 0 | ' | ' |
Deferred revenue | 0 | 0 | ' | ' |
Deferred income taxes, long term | -58,998 | -58,998 | ' | ' |
Intercompany Payable | -164,495 | -628,033 | ' | ' |
Other liabilities | 0 | 0 | ' | ' |
Redeemable noncontrolling interests | 0 | 0 | ' | ' |
Total Corelogic's stockholders' equity | -2,239,138 | -2,209,926 | ' | ' |
Total liabilities and equity | -2,464,862 | -2,896,957 | ' | ' |
Total [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 122,906 | 134,741 | 128,633 | 151,986 |
Accounts receivable (less allowance for doubtful accounts of $12,062 and $12,930 as of March 31, 2014 and December 31, 2013, respectively) | 194,024 | 196,282 | ' | ' |
Other current assets | 315,531 | 310,591 | ' | ' |
Property and equipment, net | 375,175 | 195,645 | ' | ' |
Goodwill | 1,765,932 | 1,390,674 | ' | ' |
Other intangible assets, net | 305,935 | 175,808 | ' | ' |
Capitalized data and database developement costs net | 338,983 | 330,188 | ' | ' |
Investment in affiliates, net | 112,885 | 95,343 | ' | ' |
Deferred income tax assets, long-term | 0 | 0 | ' | ' |
Restricted cash | 12,630 | 12,050 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Intercompany Receivable | 0 | 0 | ' | ' |
Other assets | 176,017 | 162,033 | ' | ' |
Total assets | 3,720,018 | 3,003,355 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Current liabilities | 558,098 | 538,027 | ' | ' |
Long-term debt, net | 1,480,675 | 811,776 | ' | ' |
Deferred revenue | 363,852 | 377,086 | ' | ' |
Deferred income taxes, long term | 100,105 | 74,308 | ' | ' |
Intercompany Payable | 0 | 0 | ' | ' |
Other liabilities | 162,656 | 147,583 | ' | ' |
Redeemable noncontrolling interests | 10,439 | 10,202 | ' | ' |
Total Corelogic's stockholders' equity | 1,044,193 | 1,044,373 | ' | ' |
Total liabilities and equity | $3,720,018 | $3,003,355 | ' | ' |
Guarantor_Subsidiaries_Income_
Guarantor Subsidiaries (Income Statement) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Operating Revenue | $310,417,000 | $331,301,000 |
Cost of services (excluding depreciation and amortization shown below) | 177,381,000 | 167,629,000 |
Selling, General and Administrative Expense | 89,944,000 | 82,196,000 |
Depreciation and amortization | 29,439,000 | 34,141,000 |
(Loss)/income from continuing operations | 13,653,000 | 47,335,000 |
Interest Income (Expense), Net | -15,657,000 | -11,651,000 |
Gain/(loss) on investment and other, net | -4,351,000 | 1,339,000 |
(Benefit)/provision for income taxes | -362,000 | 14,222,000 |
Equity in earnings of affiliates, net of tax | 2,382,000 | 8,788,000 |
Net (loss)/income from continuing operations | -3,611,000 | 31,589,000 |
Income from discontinued operations, net of tax | 1,083,000 | 3,697,000 |
Gain on sale of discontinued operations, net of tax | 0 | -1,744,000 |
Net income/(loss) | -2,528,000 | 33,542,000 |
Less: Net loss attributable to noncontrolling interests | 264,000 | -26,000 |
Net (loss)/income attributable to CoreLogic | -2,792,000 | 33,568,000 |
Total other comprehensive income/(loss) | 12,989,000 | -538,000 |
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 264,000 | -26,000 |
Comprehensive income attributable to CoreLogic | 10,197,000 | 33,030,000 |
Parent [Member] | ' | ' |
Operating Revenue | 0 | 0 |
Intercompany Revenue | 0 | 0 |
Cost of services (excluding depreciation and amortization shown below) | 0 | 0 |
Selling, General and Administrative Expense | 18,592,000 | 16,532,000 |
Depreciation and amortization | 1,147,000 | 850,000 |
(Loss)/income from continuing operations | -19,739,000 | -17,382,000 |
Interest Income (Expense), Net | -14,987,000 | -11,695,000 |
Gain/(loss) on investment and other, net | -3,991,000 | 1,339,000 |
(Benefit)/provision for income taxes | -13,740,000 | -11,038,000 |
Equity in earnings of affiliates, net of tax | 0 | 0 |
Equity in earnings of subsidiary, net of tax | 22,185,000 | 50,268,000 |
Net (loss)/income from continuing operations | -2,792,000 | 33,568,000 |
Income from discontinued operations, net of tax | 0 | 0 |
Gain on sale of discontinued operations, net of tax | ' | 0 |
Net income/(loss) | -2,792,000 | 33,568,000 |
Less: Net loss attributable to noncontrolling interests | 0 | 0 |
Net (loss)/income attributable to CoreLogic | -2,792,000 | 33,568,000 |
Total other comprehensive income/(loss) | 12,989,000 | -538,000 |
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 0 | 0 |
Comprehensive income attributable to CoreLogic | 10,197,000 | 33,030,000 |
Guarantor Subsidiaries [Member] | ' | ' |
Operating Revenue | 279,074,000 | 308,336,000 |
Intercompany Revenue | 0 | 0 |
Cost of services (excluding depreciation and amortization shown below) | 163,968,000 | 158,206,000 |
Selling, General and Administrative Expense | 62,766,000 | 57,567,000 |
Depreciation and amortization | 21,936,000 | 27,522,000 |
(Loss)/income from continuing operations | 30,404,000 | 65,041,000 |
Interest Income (Expense), Net | -95,000 | -122,000 |
Gain/(loss) on investment and other, net | -360,000 | 0 |
(Benefit)/provision for income taxes | 10,259,000 | 24,737,000 |
Equity in earnings of affiliates, net of tax | 2,382,000 | 8,453,000 |
Equity in earnings of subsidiary, net of tax | 0 | 0 |
Net (loss)/income from continuing operations | 22,072,000 | 48,635,000 |
Income from discontinued operations, net of tax | 1,083,000 | 3,868,000 |
Gain on sale of discontinued operations, net of tax | ' | -1,744,000 |
Net income/(loss) | 23,155,000 | 50,759,000 |
Less: Net loss attributable to noncontrolling interests | 0 | 0 |
Net (loss)/income attributable to CoreLogic | 23,155,000 | 50,759,000 |
Total other comprehensive income/(loss) | 0 | 0 |
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 0 | 0 |
Comprehensive income attributable to CoreLogic | 23,155,000 | 50,759,000 |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Operating Revenue | 31,343,000 | 22,965,000 |
Intercompany Revenue | 58,000 | 167,000 |
Cost of services (excluding depreciation and amortization shown below) | 13,327,000 | 9,590,000 |
Selling, General and Administrative Expense | 8,730,000 | 8,097,000 |
Depreciation and amortization | 6,356,000 | 5,769,000 |
(Loss)/income from continuing operations | 2,988,000 | -324,000 |
Interest Income (Expense), Net | -575,000 | 166,000 |
Gain/(loss) on investment and other, net | 0 | 0 |
(Benefit)/provision for income taxes | 3,119,000 | 523,000 |
Equity in earnings of affiliates, net of tax | 0 | 335,000 |
Equity in earnings of subsidiary, net of tax | 0 | 0 |
Net (loss)/income from continuing operations | -706,000 | -346,000 |
Income from discontinued operations, net of tax | 0 | -171,000 |
Gain on sale of discontinued operations, net of tax | ' | 0 |
Net income/(loss) | -706,000 | -517,000 |
Less: Net loss attributable to noncontrolling interests | 264,000 | -26,000 |
Net (loss)/income attributable to CoreLogic | -970,000 | -491,000 |
Total other comprehensive income/(loss) | 10,502,000 | -933,000 |
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 264,000 | -26,000 |
Comprehensive income attributable to CoreLogic | 9,532,000 | -1,424,000 |
Consolidation, Eliminations [Member] | ' | ' |
Operating Revenue | 0 | 0 |
Intercompany Revenue | -58,000 | -167,000 |
Cost of services (excluding depreciation and amortization shown below) | 86,000 | -167,000 |
Selling, General and Administrative Expense | -144,000 | 0 |
Depreciation and amortization | 0 | 0 |
(Loss)/income from continuing operations | 0 | 0 |
Interest Income (Expense), Net | 0 | 0 |
Gain/(loss) on investment and other, net | 0 | 0 |
(Benefit)/provision for income taxes | 0 | 0 |
Equity in earnings of affiliates, net of tax | 0 | 0 |
Equity in earnings of subsidiary, net of tax | -22,185,000 | -50,268,000 |
Net (loss)/income from continuing operations | -22,185,000 | -50,268,000 |
Income from discontinued operations, net of tax | 0 | 0 |
Gain on sale of discontinued operations, net of tax | ' | 0 |
Net income/(loss) | -22,185,000 | -50,268,000 |
Less: Net loss attributable to noncontrolling interests | 0 | 0 |
Net (loss)/income attributable to CoreLogic | -22,185,000 | -50,268,000 |
Total other comprehensive income/(loss) | -10,502,000 | 933,000 |
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 0 | 0 |
Comprehensive income attributable to CoreLogic | -32,687,000 | -49,335,000 |
Total [Member] | ' | ' |
Operating Revenue | 310,417,000 | 331,301,000 |
Intercompany Revenue | 0 | 0 |
Cost of services (excluding depreciation and amortization shown below) | 177,381,000 | 167,629,000 |
Selling, General and Administrative Expense | 89,944,000 | 82,196,000 |
Depreciation and amortization | 29,439,000 | 34,141,000 |
(Loss)/income from continuing operations | 13,653,000 | 47,335,000 |
Interest Income (Expense), Net | -15,657,000 | -11,651,000 |
Gain/(loss) on investment and other, net | -4,351,000 | 1,339,000 |
(Benefit)/provision for income taxes | -362,000 | 14,222,000 |
Equity in earnings of affiliates, net of tax | 2,382,000 | 8,788,000 |
Equity in earnings of subsidiary, net of tax | 0 | 0 |
Net (loss)/income from continuing operations | -3,611,000 | 31,589,000 |
Income from discontinued operations, net of tax | 1,083,000 | 3,697,000 |
Gain on sale of discontinued operations, net of tax | ' | -1,744,000 |
Net income/(loss) | -2,528,000 | 33,542,000 |
Less: Net loss attributable to noncontrolling interests | 264,000 | -26,000 |
Net (loss)/income attributable to CoreLogic | -2,792,000 | 33,568,000 |
Total other comprehensive income/(loss) | 12,989,000 | -538,000 |
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 264,000 | -26,000 |
Comprehensive income attributable to CoreLogic | $10,197,000 | $33,030,000 |
Guarantor_Subsidiaries_Cash_Fl
Guarantor Subsidiaries (Cash Flows) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ' | ' |
Net cash (used in)/provided by operating activities - continuing operations | $12,671 | $82,072 |
Net cash provided by operating activities - discontinued operations | 3,982 | 9,003 |
Total cash (used in)/provided by operating activities | 16,653 | 91,075 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ' | ' |
Purchases of property and equipment | -13,427 | -18,050 |
Purchases of capitalized data and other intangible assets | -7,185 | -9,489 |
Cash paid for acquisitions, net of cash acquired | -665,758 | -7,027 |
Purchases of investments | 0 | -2,351 |
Change in restricted cash | -580 | -40 |
Net cash used in investing activities - continuing operations | -686,950 | -34,694 |
Net cash used in investing activities - discontinued operations | -6 | -87 |
Total cash used in investing activities | -686,956 | -34,781 |
Cash Received From Sale Of Subsidiary | 0 | 2,263 |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ' | ' |
Proceeds from long-term debt | 689,641 | 0 |
Payments of Debt Issuance Costs | -14,042 | 0 |
Repayments of long-term debt | -5,154 | -4,400 |
Share repurchased and retired | -6,850 | -75,676 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 2,730 | 4,621 |
Minimum tax withholding paid on behalf of employees for restricted stock units | -14,314 | -6,437 |
Tax benefit related to stock options | 5,942 | 2,321 |
Net cash used in financing activities - continuing operations | 657,953 | -79,571 |
Net cash provided by financing activities - discontinued operations | 0 | 0 |
Total cash (used in)/provided by financing activities | 657,953 | -79,571 |
Effect of exchange rate on cash | 482 | -26 |
Net (decrease)/increase in cash and cash equivalents | -11,868 | -23,303 |
Cash and cash equivalents at beginning of period | 134,741 | 151,986 |
Less: Change in cash and cash equivalents - discontinued operations | 3,976 | 8,916 |
Plus: Cash swept from discontinued operations | 4,009 | 8,866 |
Cash and cash equivalents at end of period | 122,906 | 128,633 |
Parent [Member] | ' | ' |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ' | ' |
Net cash (used in)/provided by operating activities - continuing operations | -21,816 | 32,508 |
Net cash provided by operating activities - discontinued operations | 0 | 0 |
Total cash (used in)/provided by operating activities | -21,816 | 32,508 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ' | ' |
Purchases of property and equipment | -824 | -871 |
Purchases of capitalized data and other intangible assets | 0 | -390 |
Cash paid for acquisitions, net of cash acquired | 0 | 0 |
Purchases of investments | ' | 0 |
Change in restricted cash | -700 | -4 |
Net cash used in investing activities - continuing operations | -1,524 | -1,265 |
Net cash used in investing activities - discontinued operations | 0 | 0 |
Total cash used in investing activities | -1,524 | -1,265 |
Cash Received From Sale Of Subsidiary | ' | 0 |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ' | ' |
Proceeds from long-term debt | 689,641 | ' |
Payments of Debt Issuance Costs | -14,042 | ' |
Repayments of long-term debt | -266 | -4,375 |
Share repurchased and retired | -6,850 | -75,676 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 2,730 | 4,621 |
Minimum tax withholding paid on behalf of employees for restricted stock units | -14,314 | -6,437 |
Tax benefit related to stock options | 5,942 | 2,321 |
Intercompany Payments | -665,666 | 0 |
Other | 0 | 47,458 |
Net cash used in financing activities - continuing operations | -2,825 | -32,088 |
Net cash provided by financing activities - discontinued operations | 0 | 0 |
Total cash (used in)/provided by financing activities | -2,825 | -32,088 |
Effect of exchange rate on cash | 0 | 0 |
Net (decrease)/increase in cash and cash equivalents | -26,165 | -845 |
Cash and cash equivalents at beginning of period | 104,632 | 111,305 |
Less: Change in cash and cash equivalents - discontinued operations | 0 | 0 |
Plus: Cash swept from discontinued operations | 4,009 | -2,408 |
Cash and cash equivalents at end of period | 82,476 | 108,052 |
Guarantor Subsidiaries [Member] | ' | ' |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ' | ' |
Net cash (used in)/provided by operating activities - continuing operations | 29,798 | 54,908 |
Net cash provided by operating activities - discontinued operations | 3,982 | 9,003 |
Total cash (used in)/provided by operating activities | 33,780 | 63,911 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ' | ' |
Purchases of property and equipment | -9,557 | -15,025 |
Purchases of capitalized data and other intangible assets | -6,841 | -8,051 |
Cash paid for acquisitions, net of cash acquired | -636,640 | -7,027 |
Purchases of investments | ' | -2,351 |
Change in restricted cash | 185 | 1 |
Net cash used in investing activities - continuing operations | -652,853 | -30,190 |
Net cash used in investing activities - discontinued operations | -6 | -87 |
Total cash used in investing activities | -652,859 | -30,277 |
Cash Received From Sale Of Subsidiary | ' | 2,263 |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ' | ' |
Proceeds from long-term debt | 0 | ' |
Payments of Debt Issuance Costs | 0 | ' |
Repayments of long-term debt | -4,888 | -25 |
Share repurchased and retired | 0 | 0 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 0 | 0 |
Minimum tax withholding paid on behalf of employees for restricted stock units | 0 | 0 |
Tax benefit related to stock options | 0 | 0 |
Intercompany Payments | ' | -41,854 |
Other | 636,737 | 0 |
Net cash used in financing activities - continuing operations | 631,849 | -41,879 |
Net cash provided by financing activities - discontinued operations | 0 | 0 |
Total cash (used in)/provided by financing activities | 631,849 | -41,879 |
Effect of exchange rate on cash | 0 | 0 |
Net (decrease)/increase in cash and cash equivalents | 12,770 | -8,245 |
Cash and cash equivalents at beginning of period | 0 | 5,889 |
Less: Change in cash and cash equivalents - discontinued operations | 3,976 | -8,916 |
Plus: Cash swept from discontinued operations | 0 | 11,274 |
Cash and cash equivalents at end of period | 8,794 | 2 |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ' | ' |
Net cash (used in)/provided by operating activities - continuing operations | 4,689 | -5,344 |
Net cash provided by operating activities - discontinued operations | 0 | 0 |
Total cash (used in)/provided by operating activities | 4,689 | -5,344 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ' | ' |
Purchases of property and equipment | -3,046 | -2,154 |
Purchases of capitalized data and other intangible assets | -344 | -1,048 |
Cash paid for acquisitions, net of cash acquired | -29,118 | 0 |
Purchases of investments | ' | 0 |
Change in restricted cash | -65 | -37 |
Net cash used in investing activities - continuing operations | -32,573 | -3,239 |
Net cash used in investing activities - discontinued operations | 0 | 0 |
Total cash used in investing activities | -32,573 | -3,239 |
Cash Received From Sale Of Subsidiary | ' | 0 |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ' | ' |
Proceeds from long-term debt | 0 | ' |
Payments of Debt Issuance Costs | 0 | ' |
Repayments of long-term debt | 0 | 0 |
Share repurchased and retired | 0 | 0 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 0 | 0 |
Minimum tax withholding paid on behalf of employees for restricted stock units | 0 | 0 |
Tax benefit related to stock options | 0 | 0 |
Intercompany Payments | ' | -5,604 |
Other | 28,929 | 0 |
Net cash used in financing activities - continuing operations | 28,929 | -5,604 |
Net cash provided by financing activities - discontinued operations | 0 | 0 |
Total cash (used in)/provided by financing activities | 28,929 | -5,604 |
Effect of exchange rate on cash | 482 | -26 |
Net (decrease)/increase in cash and cash equivalents | 1,527 | -14,213 |
Cash and cash equivalents at beginning of period | 30,109 | 34,792 |
Less: Change in cash and cash equivalents - discontinued operations | 0 | 0 |
Plus: Cash swept from discontinued operations | 0 | 0 |
Cash and cash equivalents at end of period | 31,636 | 20,579 |
Consolidation, Eliminations [Member] | ' | ' |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ' | ' |
Net cash (used in)/provided by operating activities - continuing operations | 0 | 0 |
Net cash provided by operating activities - discontinued operations | 0 | 0 |
Total cash (used in)/provided by operating activities | 0 | 0 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ' | ' |
Purchases of property and equipment | 0 | 0 |
Purchases of capitalized data and other intangible assets | 0 | 0 |
Cash paid for acquisitions, net of cash acquired | 0 | 0 |
Purchases of investments | ' | 0 |
Change in restricted cash | 0 | 0 |
Net cash used in investing activities - continuing operations | 0 | 0 |
Net cash used in investing activities - discontinued operations | 0 | 0 |
Total cash used in investing activities | 0 | 0 |
Cash Received From Sale Of Subsidiary | ' | 0 |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ' | ' |
Proceeds from long-term debt | 0 | ' |
Payments of Debt Issuance Costs | 0 | ' |
Repayments of long-term debt | 0 | 0 |
Share repurchased and retired | 0 | 0 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 0 | 0 |
Minimum tax withholding paid on behalf of employees for restricted stock units | 0 | 0 |
Tax benefit related to stock options | 0 | 0 |
Intercompany Payments | 665,666 | 47,458 |
Other | -665,666 | -47,458 |
Net cash used in financing activities - continuing operations | 0 | 0 |
Net cash provided by financing activities - discontinued operations | 0 | 0 |
Total cash (used in)/provided by financing activities | 0 | 0 |
Effect of exchange rate on cash | 0 | 0 |
Net (decrease)/increase in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 |
Less: Change in cash and cash equivalents - discontinued operations | 0 | 0 |
Plus: Cash swept from discontinued operations | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 |
Total [Member] | ' | ' |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ' | ' |
Net cash (used in)/provided by operating activities - continuing operations | 12,671 | 82,072 |
Net cash provided by operating activities - discontinued operations | 3,982 | 9,003 |
Total cash (used in)/provided by operating activities | 16,653 | 91,075 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ' | ' |
Purchases of property and equipment | -13,427 | -18,050 |
Purchases of capitalized data and other intangible assets | -7,185 | -9,489 |
Cash paid for acquisitions, net of cash acquired | -665,758 | -7,027 |
Purchases of investments | ' | -2,351 |
Change in restricted cash | -580 | -40 |
Net cash used in investing activities - continuing operations | -686,950 | -34,694 |
Net cash used in investing activities - discontinued operations | -6 | -87 |
Total cash used in investing activities | -686,956 | -34,781 |
Cash Received From Sale Of Subsidiary | ' | 2,263 |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ' | ' |
Repayments of long-term debt | -5,154 | -4,400 |
Share repurchased and retired | -6,850 | -75,676 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 2,730 | 4,621 |
Minimum tax withholding paid on behalf of employees for restricted stock units | -14,314 | -6,437 |
Tax benefit related to stock options | 5,942 | 2,321 |
Intercompany Payments | 0 | 0 |
Other | 0 | 0 |
Net cash used in financing activities - continuing operations | 657,953 | -79,571 |
Net cash provided by financing activities - discontinued operations | 0 | 0 |
Total cash (used in)/provided by financing activities | 657,953 | -79,571 |
Effect of exchange rate on cash | 482 | ' |
Net (decrease)/increase in cash and cash equivalents | -11,868 | -23,303 |
Cash and cash equivalents at beginning of period | 134,741 | 151,986 |
Less: Change in cash and cash equivalents - discontinued operations | 3,976 | 8,916 |
Plus: Cash swept from discontinued operations | 4,009 | ' |
Cash and cash equivalents at end of period | $122,906 | $128,633 |
Guarantor_Subsidiaries_Guarant
Guarantor Subsidiaries Guarantor Reclassification (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Guarantor Obligations [Line Items] | ' | ' |
Operating Revenue | $310,417 | $331,301 |
Operating Expenses | 296,764 | 283,966 |
Net (loss)/income attributable to CoreLogic | -2,792 | 33,568 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 10,197 | 33,030 |
Net cash (used in)/provided by operating activities - continuing operations | 12,671 | 82,072 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -686,950 | -34,694 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | 657,953 | -79,571 |
Consolidation, Eliminations [Member] | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Operating Revenue | 0 | 0 |
Net (loss)/income attributable to CoreLogic | -22,185 | -50,268 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -32,687 | -49,335 |
Net cash (used in)/provided by operating activities - continuing operations | 0 | 0 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | 0 | 0 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | 0 | 0 |
Parent [Member] | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Operating Revenue | 0 | 0 |
Net (loss)/income attributable to CoreLogic | -2,792 | 33,568 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 10,197 | 33,030 |
Net cash (used in)/provided by operating activities - continuing operations | -21,816 | 32,508 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -1,524 | -1,265 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | -2,825 | -32,088 |
Guarantor Subsidiaries [Member] | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Operating Revenue | 279,074 | 308,336 |
Net (loss)/income attributable to CoreLogic | 23,155 | 50,759 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 23,155 | 50,759 |
Net cash (used in)/provided by operating activities - continuing operations | 29,798 | 54,908 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -652,853 | -30,190 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | 631,849 | -41,879 |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Operating Revenue | 31,343 | 22,965 |
Net (loss)/income attributable to CoreLogic | -970 | -491 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 9,532 | -1,424 |
Net cash (used in)/provided by operating activities - continuing operations | 4,689 | -5,344 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -32,573 | -3,239 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | $28,929 | ($5,604) |