Guarantor Subsidiaries | 12 Months Ended |
Dec. 31, 2014 |
Guarantor Subsidiaries [Abstract] | |
Guarantor Subsidiaries | Guarantor Subsidiaries |
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As discussed in Note 8 - 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 full and unconditional, as well as joint and several, and 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”, and 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 domestic guarantees are essentially equal to the outstanding principal and interest under the Notes. The following condensed consolidating financial information reflects CoreLogic, Inc.'s (the "Parent's") separate accounts, the combined accounts of the guarantor subsidiaries, the combined accounts of the non-guarantor subsidiaries, the combined consolidating adjustments and eliminations and the Parent's consolidated accounts for the dates and periods indicated. |
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| | | | | | | | | | | | | | | | | | | | |
| | Condensed Balance Sheet |
| | As of December 31, 2014 |
| | Parent | | Guarantor | | Non-Guarantor | | Consolidating/Eliminating Adjustments | | Total |
Subsidiaries | Subsidiaries |
Assets: | | | | | | | | | | |
Cash and cash equivalents | | $ | 61,602 | | | $ | 8,733 | | | $ | 34,342 | | | $ | — | | | $ | 104,677 | |
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Accounts receivable | | — | | | 189,138 | | | 25,206 | | | — | | | 214,344 | |
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Other current assets | | 55,867 | | | 120,531 | | | 5,206 | | | — | | | 181,604 | |
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Property and equipment, net | | 17,261 | | | 325,638 | | | 25,715 | | | — | | | 368,614 | |
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Goodwill, net | | — | | | 1,612,388 | | | 168,370 | | | — | | | 1,780,758 | |
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Other intangible assets, net | | 290 | | | 242,170 | | | 35,810 | | | — | | | 278,270 | |
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Capitalized data and database cost, net | | — | | | 254,236 | | | 79,029 | | | — | | | 333,265 | |
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Investment in affiliates, net | | — | | | 103,598 | | | — | | | — | | | 103,598 | |
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Deferred income tax assets, long-term | | 49,365 | | | — | | | — | | | (49,365 | ) | | — | |
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Restricted cash | | 11,035 | | | — | | | 1,325 | | | — | | | 12,360 | |
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Investment in subsidiaries | | 2,350,467 | | | — | | | — | | | (2,350,467 | ) | | — | |
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Intercompany receivable | | 89,780 | | | 158,939 | | | — | | | (248,719 | ) | | — | |
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Other assets | | 105,262 | | | 31,925 | | | 1,685 | | | — | | | 138,872 | |
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Total assets | | $ | 2,740,929 | | | $ | 3,047,296 | | | $ | 376,688 | | | $ | (2,648,551 | ) | | $ | 3,516,362 | |
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Liabilities and equity: | | | | | | | | | | |
Current liabilities | | $ | 123,196 | | | $ | 389,170 | | | $ | 38,224 | | | $ | — | | | $ | 550,590 | |
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Long-term debt, net of current | | 1,313,270 | | | 5,941 | | | — | | | — | | | 1,319,211 | |
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Deferred revenue, net of current | | — | | | 389,302 | | | 6 | | | — | | | 389,308 | |
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Deferred income tax liabilities, long term | | — | | | 91,197 | | | 22,147 | | | (49,365 | ) | | 63,979 | |
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Intercompany payable | | 158,939 | | | 22,325 | | | 67,455 | | | (248,719 | ) | | — | |
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Other liabilities | | 131,357 | | | 27,930 | | | 1,797 | | | — | | | 161,084 | |
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Redeemable noncontrolling interest | | — | | | — | | | 18,023 | | | — | | | 18,023 | |
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Total CoreLogic stockholders' equity | | 1,014,167 | | | 2,121,431 | | | 229,036 | | | (2,350,467 | ) | | 1,014,167 | |
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Total liabilities and equity | | $ | 2,740,929 | | | $ | 3,047,296 | | | $ | 376,688 | | | $ | (2,648,551 | ) | | $ | 3,516,362 | |
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| | | | | | | | | | | | | | | | | | | | |
| | Condensed Balance Sheet |
| | As of December 31, 2013 |
| | Parent | | Guarantor | | Non-Guarantor | | Consolidating/Eliminating Adjustments | | Total |
Subsidiaries | Subsidiaries |
Assets: | | | | | | | | | | |
Cash and cash equivalents | | $ | 104,310 | | | $ | — | | | $ | 30,109 | | | $ | — | | | $ | 134,419 | |
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Accounts receivable | | — | | | 193,256 | | | 21,764 | | | — | | | 215,020 | |
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Other current assets | | 56,877 | | | 151,066 | | | 4,228 | | | (193 | ) | | 211,978 | |
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Property and equipment, net | | 20,076 | | | 149,848 | | | 27,618 | | | — | | | 197,542 | |
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Goodwill, net | | — | | | 1,306,471 | | | 161,819 | | | — | | | 1,468,290 | |
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Other intangible assets, net | | 348 | | | 135,326 | | | 40,134 | | | — | | | 175,808 | |
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Capitalized data and database cost, net | | — | | | 249,472 | | | 80,716 | | | — | | | 330,188 | |
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Investment in affiliates, net | | — | | | 95,343 | | | — | | | — | | | 95,343 | |
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Deferred income tax assets, long-term | | 58,998 | | | — | | | — | | | (58,998 | ) | | — | |
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Restricted cash | | 10,335 | | | 306 | | | 1,409 | | | — | | | 12,050 | |
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Investment in subsidiaries | | 2,210,416 | | | — | | | — | | | (2,210,416 | ) | | — | |
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Intercompany receivable | | 63,647 | | | 554,894 | | | 9,170 | | | (627,711 | ) | | — | |
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Other assets | | 118,709 | | | 41,680 | | | 2,104 | | | — | | | 162,493 | |
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Total assets | | $ | 2,643,716 | | | $ | 2,877,662 | | | $ | 379,071 | | | $ | (2,897,318 | ) | | $ | 3,003,131 | |
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Liabilities and equity: | | | | | | | | | | |
Current liabilities | | $ | 107,340 | | | $ | 393,738 | | | $ | 33,206 | | | $ | (193 | ) | | $ | 534,091 | |
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Long-term debt, net of current | | 806,395 | | | 5,381 | | | — | | | — | | | 811,776 | |
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Deferred revenue, net of current | | — | | | 377,846 | | | 9 | | | — | | | 377,855 | |
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Deferred income taxes liabilities, long term | | — | | | 111,664 | | | 24,303 | | | (58,998 | ) | | 76,969 | |
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Intercompany payable | | 564,064 | | | — | | | 63,647 | | | (627,711 | ) | | — | |
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Other liabilities | | 121,544 | | | 23,050 | | | 3,271 | | | — | | | 147,865 | |
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Redeemable noncontrolling interest | | — | | | — | | | 10,202 | | | — | | | 10,202 | |
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Total CoreLogic stockholders' equity | | 1,044,373 | | | 1,965,983 | | | 244,433 | | | (2,210,416 | ) | | 1,044,373 | |
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Total liabilities and equity | | $ | 2,643,716 | | | $ | 2,877,662 | | | $ | 379,071 | | | $ | (2,897,318 | ) | | $ | 3,003,131 | |
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| | | | | | | | | | | | | | | | | | | | |
| | Condensed Statement of Operations |
| | For the Year Ended December 31, 2014 |
| | Parent | | Guarantor | | Non-Guarantor | | Consolidating/Eliminating Adjustments | | Total |
Subsidiaries | Subsidiaries |
Operating revenue | | $ | — | | | $ | 1,263,980 | | | $ | 141,060 | | | $ | — | | | $ | 1,405,040 | |
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Intercompany revenue | | — | | | — | | | 637 | | | (637 | ) | | — | |
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Cost of services (exclusive of depreciation and amortization below) | | — | | | 686,630 | | | 53,696 | | | (25 | ) | | 740,301 | |
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Selling, general and administrative expenses | | 58,176 | | | 252,879 | | | 41,174 | | | (612 | ) | | 351,617 | |
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Depreciation and amortization | | 4,836 | | | 107,002 | | | 26,556 | | | — | | | 138,394 | |
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Impairment loss | | — | | | 4,970 | | | — | | | — | | | 4,970 | |
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Operating (loss)/income | | (63,012 | ) | | 212,499 | | | 20,271 | | | — | | | 169,758 | |
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Total interest expense, net | | (65,299 | ) | | (627 | ) | | (1,056 | ) | | — | | | (66,982 | ) |
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Gain on investments and other, net | | 5,070 | | | (6,278 | ) | | 5,090 | | | — | | | 3,882 | |
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(Benefit)/Provision for income taxes | | (43,448 | ) | | 73,179 | | | 39 | | | — | | | 29,770 | |
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Equity in earnings of affiliates, net of tax | | — | | | 14,120 | | | — | | | — | | | 14,120 | |
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Equity in earnings of subsidiary, net of tax | | 152,993 | | | — | | | — | | | (152,993 | ) | | — | |
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Net income/(loss) from continuing operations | | 73,200 | | | 146,535 | | | 24,266 | | | (152,993 | ) | | 91,008 | |
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Loss from discontinued operations, net of tax | | — | | | (16,653 | ) | | — | | | — | | | (16,653 | ) |
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(Loss)/gain from sale of discontinued operations, net of tax | | — | | | (1,424 | ) | | 1,536 | | | — | | | 112 | |
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Net income/(loss) | | 73,200 | | | 128,458 | | | 25,802 | | | (152,993 | ) | | 74,467 | |
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Less: Net loss attributable to noncontrolling interests | | — | | | — | | | 1,267 | | | — | | | 1,267 | |
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Net income/(loss) attributable to CoreLogic | | $ | 73,200 | | | $ | 128,458 | | | $ | 24,535 | | | $ | (152,993 | ) | | $ | 73,200 | |
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Net income | | $ | 73,200 | | | $ | 128,458 | | | $ | 25,802 | | | $ | (152,993 | ) | | $ | 74,467 | |
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Total other comprehensive (loss)/income | | (30,197 | ) | | — | | | (26,673 | ) | | 26,673 | | | (30,197 | ) |
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Less: Comprehensive loss attributable to noncontrolling interests | | — | | | — | | | 1,267 | | | — | | | 1,267 | |
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Comprehensive income/(loss) attributable to CoreLogic | | $ | 43,003 | | | $ | 128,458 | | | $ | (2,138 | ) | | $ | (126,320 | ) | | $ | 43,003 | |
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| | | | | | | | | | | | | | | | | | | | |
| | Condensed Statement of Operations |
| | For the Year Ended December 31, 2013 |
| | Parent | | Guarantor | | Non-Guarantor | | Consolidating/Eliminating Adjustments | | Total |
Subsidiaries | Subsidiaries |
Operating revenue | | $ | — | | | $ | 1,303,115 | | | $ | 101,286 | | | $ | — | | | $ | 1,404,401 | |
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Intercompany revenue | | — | | | — | | | 631 | | | (631 | ) | | — | |
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Cost of services (exclusive of depreciation and amortization below) | | — | | | 679,032 | | | 38,804 | | | (631 | ) | | 717,205 | |
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Selling, general and administrative expenses | | 63,205 | | | 276,236 | | | 34,848 | | | — | | | 374,289 | |
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Depreciation and amortization | | 3,767 | | | 98,670 | | | 23,895 | | | — | | | 126,332 | |
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Impairment loss | | — | | | 44,433 | | | — | | | — | | | 44,433 | |
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Operating (loss)/income | | (66,972 | ) | | 204,744 | | | 4,370 | | | — | | | 142,142 | |
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Total interest expense, net | | (45,270 | ) | | (2 | ) | | (2,330 | ) | | — | | | (47,602 | ) |
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Gain on investments and other, net | | 3,785 | | | 1,250 | | | 6,997 | | | — | | | 12,032 | |
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(Benefit)/provision for income taxes | | (40,392 | ) | | 72,385 | | | 1,680 | | | — | | | 33,673 | |
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Equity in earnings of affiliates, net of tax | | — | | | 26,566 | | | 795 | | | — | | | 27,361 | |
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Equity in earnings of subsidiary, net of tax | | 175,793 | | | — | | | — | | | (175,793 | ) | | — | |
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Net income from continuing operations | | 107,728 | | | 160,173 | | | 8,152 | | | (175,793 | ) | | 100,260 | |
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Income/(loss) from discontinued operations, net of tax | | — | | | 14,595 | | | (172 | ) | | — | | | 14,423 | |
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(Loss)/gain on sale of discontinued operations, net of tax | | — | | | (8,514 | ) | | 1,506 | | | — | | | (7,008 | ) |
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Net income | | 107,728 | | | 166,254 | | | 9,486 | | | (175,793 | ) | | 107,675 | |
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Less: Net loss attributable to noncontrolling interests | | — | | | — | | | (53 | ) | | — | | | (53 | ) |
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Net income attributable to CoreLogic | | $ | 107,728 | | | $ | 166,254 | | | $ | 9,539 | | | $ | (175,793 | ) | | $ | 107,728 | |
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Net income | | $ | 107,728 | | | $ | 166,254 | | | $ | 9,486 | | | $ | (175,793 | ) | | $ | 107,675 | |
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Total other comprehensive loss | | (38,075 | ) | | — | | | (43,337 | ) | | 43,337 | | | (38,075 | ) |
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Less: Comprehensive loss attributable to noncontrolling interests | | — | | | — | | | (53 | ) | | — | | | (53 | ) |
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Comprehensive income/(loss) attributable to CoreLogic | | $ | 69,653 | | | $ | 166,254 | | | $ | (33,798 | ) | | $ | (132,456 | ) | | $ | 69,653 | |
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| | Condensed Statement of Operations |
| | For the Year Ended December 31, 2012 |
| | Parent | | Guarantor | | Non-Guarantor | | Consolidating/Eliminating Adjustments | | Total |
Subsidiaries | Subsidiaries |
Operating revenue | | $ | — | | | $ | 1,244,136 | | | $ | 89,343 | | | $ | — | | | $ | 1,333,479 | |
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Intercompany revenue | | — | | | — | | | 1,955 | | | (1,955 | ) | | — | |
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Cost of services (exclusive of depreciation and amortization below) | | — | | | 636,707 | | | 34,732 | | | (1,955 | ) | | 669,484 | |
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Selling, general and administrative expenses | | 65,637 | | | 257,650 | | | 33,318 | | | — | | | 356,605 | |
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Depreciation and amortization | | 2,937 | | | 91,173 | | | 22,998 | | | — | | | 117,108 | |
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Impairment loss | | — | | | 19,880 | | | — | | | — | | | 19,880 | |
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Operating (loss)/income | | (68,574 | ) | | 238,726 | | | 250 | | | — | | | 170,402 | |
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Total interest (expense)/income, net | | (50,222 | ) | | 88 | | | (2,339 | ) | | — | | | (52,473 | ) |
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Gain on investments and other, net | | 3,492 | | | 1,504 | | | — | | | — | | | 4,996 | |
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(Benefit)/provision for income taxes | | (44,908 | ) | | 102,058 | | | 6,338 | | | — | | | 63,488 | |
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Equity in earnings of affiliates, net of tax | | — | | | 35,153 | | | 830 | | | — | | | 35,983 | |
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Equity in earnings of subsidiary, net of tax | | 182,689 | | | — | | | — | | | (182,689 | ) | | — | |
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Net income/(loss) from continuing operations | | 112,293 | | | 173,413 | | | (7,597 | ) | | (182,689 | ) | | 95,420 | |
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Income/(loss) from discontinued operations, net of tax | | — | | | 15,298 | | | (2,911 | ) | | — | | | 12,387 | |
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Loss from sale of discontinued operations, net of tax | | — | | | 3,841 | | | — | | | — | | | 3,841 | |
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Net income/(loss) | | 112,293 | | | 192,552 | | | (10,508 | ) | | (182,689 | ) | | 111,648 | |
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Less: Net loss attributable to noncontrolling interests | | — | | | — | | | (645 | ) | | — | | | (645 | ) |
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Net income/(loss) attributable to CoreLogic | | $ | 112,293 | | | $ | 192,552 | | | $ | (9,863 | ) | | $ | (182,689 | ) | | $ | 112,293 | |
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Net income/(loss) | | $ | 112,293 | | | $ | 192,552 | | | $ | (10,508 | ) | | $ | (182,689 | ) | | $ | 111,648 | |
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Total other comprehensive income | | 4,802 | | | — | | | 5,921 | | | (5,921 | ) | | 4,802 | |
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Less: Comprehensive loss attributable to noncontrolling interests | | — | | | — | | | (645 | ) | | — | | | (645 | ) |
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Comprehensive income/(loss) attributable to CoreLogic | | $ | 117,095 | | | $ | 192,552 | | | $ | (3,942 | ) | | $ | (188,610 | ) | | $ | 117,095 | |
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| | Condensed Statement of Cash Flows |
| | For the Year Ended December 31, 2014 |
| | Parent | | Guarantor | | Non-Guarantor | | Consolidating/Eliminating Adjustments | | Total |
Subsidiaries | Subsidiaries |
Cash flows from operating activities: | | | | | | | | | | |
Net cash provided by operating activities - continuing operations | | $ | 9,433 | | | $ | 283,316 | | | $ | 42,844 | | | $ | — | | | $ | 335,593 | |
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Net cash used in operating activities - discontinued operations | | — | | | (13,717 | ) | | — | | | — | | | (13,717 | ) |
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Total cash provided by operating activities | | $ | 9,433 | | | $ | 269,599 | | | $ | 42,844 | | | $ | — | | | $ | 321,876 | |
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Cash flow from investing activities: | | | | | | | | | | | |
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Purchases of property and equipment | | $ | (1,964 | ) | | $ | (40,598 | ) | | $ | (9,463 | ) | | $ | — | | | $ | (52,025 | ) |
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Purchases of capitalized data and other intangible assets | | — | | | (30,077 | ) | | (5,052 | ) | | — | | | (35,129 | ) |
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Cash paid for acquisitions, net of cash acquired | | — | | | (665,753 | ) | | (29,118 | ) | | — | | | (694,871 | ) |
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Cash received from sale of subsidiary, net | | — | | | 25,366 | | | — | | | — | | | 25,366 | |
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Proceeds from sale of property and equipment | | — | | | 13,937 | | | — | | | — | | | 13,937 | |
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Change in restricted cash | | (700 | ) | | 306 | | | 84 | | | — | | | (310 | ) |
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Net cash used in investing activities - continuing operations | | (2,664 | ) | | (696,819 | ) | | (43,549 | ) | | — | | | (743,032 | ) |
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Net cash provided by investing activities - continuing operations | | — | | | — | | | 1,536 | | | — | | | 1,536 | |
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Total cash used in by investing activities | | $ | (2,664 | ) | | $ | (696,819 | ) | | $ | (42,013 | ) | | $ | — | | | $ | (741,496 | ) |
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Cash flow from financing activities: | | | | | | | | | | | |
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Proceeds from long-term debt | | $ | 690,017 | | | $ | — | | | $ | — | | | $ | — | | | $ | 690,017 | |
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Debt issuance costs | | (14,042 | ) | | — | | | — | | | — | | | (14,042 | ) |
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Repayments of long-term debt | | (195,217 | ) | | (4,789 | ) | | — | | | — | | | (200,006 | ) |
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Shares repurchased and retired | | (91,475 | ) | | — | | | — | | | — | | | (91,475 | ) |
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Proceeds from issuance of stock related to stock options and employee benefit plans | | 15,213 | | | — | | | — | | | — | | | 15,213 | |
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Minimum tax withholding paid on behalf of employees for restricted stock units | | (15,980 | ) | | — | | | — | | | — | | | (15,980 | ) |
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Tax benefit related to stock options | | 6,791 | | | — | | | — | | | — | | | 6,791 | |
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Intercompany loan payments | | (610,239 | ) | | (179,187 | ) | | — | | | 789,426 | | | — | |
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Intercompany loan proceeds | | 179,187 | | | 606,212 | | | 4,027 | | | (789,426 | ) | | — | |
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Net cash (used in)/provided by financing activities - continuing operations | | (35,745 | ) | | 422,236 | | | 4,027 | | | — | | | 390,518 | |
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Net cash provided by financing activities - discontinued operations | | — | | | — | | | — | | | — | | | — | |
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Total cash (used in)/provided by financing activities | | $ | (35,745 | ) | | $ | 422,236 | | | $ | 4,027 | | | $ | — | | | $ | 390,518 | |
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Effect of Exchange Rate on cash | | — | | | — | | | (625 | ) | | — | | | (625 | ) |
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Net decrease in cash and cash equivalents | | $ | (28,976 | ) | | $ | (4,984 | ) | | $ | 4,233 | | | $ | — | | | $ | (29,727 | ) |
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Cash and cash equivalents at beginning of period | | 104,310 | | | — | | | 30,109 | | | — | | | 134,419 | |
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Less: Change in cash and cash equivalents - discontinued operations | | — | | | (13,717 | ) | | 1,536 | | | — | | | (12,181 | ) |
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Plus: Cash swept (to)/from discontinued operations | | (13,732 | ) | | — | | | 1,536 | | | — | | | (12,196 | ) |
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Cash and cash equivalents at end of year | | $ | 61,602 | | | $ | 8,733 | | | $ | 34,342 | | | $ | — | | | $ | 104,677 | |
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| | | | | | | | | | | | | | | | | | | | |
| | Condensed Statement of Cash Flows |
| | For the Year Ended December 31, 2013 |
| | 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 | | $ | (51,864 | ) | | $ | 354,004 | | | $ | 26,080 | | | $ | — | | | $ | 328,220 | |
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Net cash provided by operating activities - discontinued operations | | — | | | 24,094 | | | 1,506 | | | — | | | 25,600 | |
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Total cash (used in)/provided by operating activities | | $ | (51,864 | ) | | $ | 378,098 | | | $ | 27,586 | | | $ | — | | | $ | 353,820 | |
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Cash flow from investing activities: | | | | | | | | | | | |
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Purchases of property and equipment | | $ | (8,870 | ) | | $ | (51,660 | ) | | $ | (8,215 | ) | | $ | — | | | $ | (68,745 | ) |
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Purchases of capitalized data and other intangible assets | | (348 | ) | | (23,171 | ) | | (14,322 | ) | | — | | | (37,841 | ) |
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Cash paid for acquisitions, net of cash acquired | | — | | | (92,591 | ) | | 542 | | | — | | | (92,049 | ) |
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Cash received from sale of discontinued operations | | — | | | 2,263 | | | — | | | — | | | 2,263 | |
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Purchases of investments | | — | | | (2,351 | ) | | — | | | — | | | (2,351 | ) |
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Change in restricted cash | | 7,964 | | | — | | | 2,104 | | | — | | | 10,068 | |
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Net cash used in investing activities - continuing operations | | (1,254 | ) | | (167,510 | ) | | (19,891 | ) | | — | | | (188,655 | ) |
|
Net cash provided by investing activities - discontinued operations | | — | | | 1,862 | | | — | | | — | | | 1,862 | |
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Total cash used in investing activities | | $ | (1,254 | ) | | $ | (165,648 | ) | | $ | (19,891 | ) | | $ | — | | | $ | (186,793 | ) |
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Cash flow from financing activities: | | | | | | | | | | | |
|
Proceeds from long-term debt | | $ | 50,000 | | | $ | 1,647 | | | $ | — | | | $ | — | | | $ | 51,647 | |
|
Debt issuance costs | | — | | | (10,436 | ) | | — | | | — | | | (10,436 | ) |
|
Repayments of long-term debt | | (4,375 | ) | | (291 | ) | | — | | | — | | | (4,666 | ) |
|
Shares repurchased and retired | | (241,161 | ) | | — | | | — | | | — | | | (241,161 | ) |
|
Proceeds from issuance of stock related to stock options and employee benefit plans | | 28,232 | | | — | | | — | | | — | | | 28,232 | |
|
Minimum tax withholding paid on behalf of employees for restricted stock units | | (8,665 | ) | | — | | | — | | | — | | | (8,665 | ) |
|
Tax benefit related to stock options | | 5,146 | | | — | | | — | | | — | | | 5,146 | |
|
Intercompany loan payments | | — | | | (180,885 | ) | | (10,262 | ) | | 191,147 | | | — | |
|
Intercompany loan proceeds | | 191,147 | | | — | | | — | | | (191,147 | ) | | — | |
|
Net cash provided by/(used in) financing activities - continuing operations | | 20,324 | | | (189,965 | ) | | (10,262 | ) | | — | | | (179,903 | ) |
|
Net cash provided by financing activities - discontinued operations | | — | | | — | | | — | | | — | | | — | |
|
Total cash provided by/(used in) financing activities | | $ | 20,324 | | | $ | (189,965 | ) | | $ | (10,262 | ) | | $ | — | | | $ | (179,903 | ) |
|
Effect of Exchange Rate on cash | | — | | | — | | | (2,116 | ) | | — | | | (2,116 | ) |
|
|
| | | | | | | | | | | | | | | | | | | | |
Net (decrease)/increase in cash and cash equivalents | | $ | (32,794 | ) | | $ | 22,485 | | | $ | (4,683 | ) | | $ | — | | | $ | (14,992 | ) |
|
Cash and cash equivalents at beginning of period | | 111,305 | | | 3,471 | | | 34,792 | | | — | | | 149,568 | |
|
Less: Change in cash and cash equivalents - discontinued operations | | — | | | 25,956 | | | 1,506 | | | — | | | 27,462 | |
|
Plus: Cash swept from discontinued operations | | 25,799 | | | — | | | 1,506 | | | — | | | 27,305 | |
|
Cash and cash equivalents at end of year | | $ | 104,310 | | | $ | — | | | $ | 30,109 | | | $ | — | | | $ | 134,419 | |
|
|
|
| | | | | | | | | | | | | | | | | | | | |
| | Condensed Statement of Cash Flows |
| | For the Year Ended December 31, 2012 |
| | 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 | | $ | (60,340 | ) | | $ | 380,064 | | | $ | 16,927 | | | $ | — | | | $ | 336,651 | |
|
Net cash provided by operating activities - discontinued operations | | — | | | 26,494 | | | — | | | — | | | 26,494 | |
|
Total cash (used in)/provided by operating activities | | $ | (60,340 | ) | | $ | 406,558 | | | $ | 16,927 | | | $ | — | | | $ | 363,145 | |
|
Cash flow from investing activities: | | | | | | | | | | | |
|
Purchases of property and equipment | | $ | (3,195 | ) | | $ | (36,897 | ) | | $ | (11,453 | ) | | $ | — | | | $ | (51,545 | ) |
|
Purchases of capitalized data and other intangible assets | | — | | | (28,792 | ) | | (3,397 | ) | | — | | | (32,189 | ) |
|
Cash paid for acquisitions, net of cash acquired | | — | | | (78,354 | ) | | — | | | — | | | (78,354 | ) |
|
Cash received from sale of subsidiary, net | | — | | | 10,000 | | | — | | | — | | | 10,000 | |
|
Proceeds from sale of property and equipment | | — | | | 1,863 | | | — | | | — | | | 1,863 | |
|
Proceeds from sale of investments | | — | | | 8,000 | | | — | | | — | | | 8,000 | |
|
Change in restricted cash | | (1 | ) | | (184 | ) | | 271 | | | — | | | 86 | |
|
Net cash used in investing activities - continuing operations | | (3,196 | ) | | (124,364 | ) | | (14,579 | ) | | — | | | (142,139 | ) |
|
Net cash used in investing activities - discontinued operations | | — | | | (5,203 | ) | | — | | | — | | | (5,203 | ) |
|
Total cash used in investing activities | | $ | (3,196 | ) | | $ | (129,567 | ) | | $ | (14,579 | ) | | $ | — | | | $ | (147,342 | ) |
|
Cash flow from financing activities: | | | | | | | | | | | |
|
Proceeds from long-term debt | | $ | 50,000 | | | $ | — | | | $ | — | | | $ | — | | | $ | 50,000 | |
|
Repayments of long-term debt | | (103,368 | ) | | (11,020 | ) | | (52,327 | ) | | — | | | (166,715 | ) |
|
Shares repurchased and retired | | (226,629 | ) | | — | | | — | | | — | | | (226,629 | ) |
|
Proceeds from issuance of stock related to stock options and employee benefit plans | | 13,497 | | | — | | | — | | | — | | | 13,497 | |
|
Minimum tax withholding paid on behalf of employees for restricted stock units | | (3,466 | ) | | — | | | — | | | — | | | (3,466 | ) |
|
Distribution to noncontrolling interests | | — | | | — | | | (10 | ) | | — | | | (10 | ) |
|
Tax benefit related to stock options | | 935 | | | — | | | — | | | — | | | 935 | |
|
Intercompany loan payments | | (66,765 | ) | | (278,231 | ) | | — | | | 344,996 | | | — | |
|
Intercompany loan proceeds | | 278,231 | | | — | | | 66,765 | | | (344,996 | ) | | — | |
|
Net cash (used in)/provided by financing activities - continuing operations | | (57,565 | ) | | (289,251 | ) | | 14,428 | | | — | | | (332,388 | ) |
|
Net cash used in financing activities - discontinued operations | | — | | | (79 | ) | | — | | | — | | | (79 | ) |
|
Total cash (used in)/provided by financing activities | | $ | (57,565 | ) | | $ | (289,330 | ) | | $ | 14,428 | | | $ | — | | | $ | (332,467 | ) |
|
|
| | | | | | | | | | | | | | | | | | | | |
Effect of Exchange Rate on cash | | — | | | — | | | (153 | ) | | — | | | (153 | ) |
|
Net (decrease)/increase in cash and cash equivalents | | $ | (121,101 | ) | | $ | (12,339 | ) | | $ | 16,623 | | | $ | — | | | $ | (116,817 | ) |
|
Cash and cash equivalents at beginning of period | | 229,871 | | | 10,076 | | | 18,169 | | | — | | | 258,116 | |
|
Less: Change in cash and cash equivalents - discontinued operations | | — | | | 21,212 | | | — | | | — | | | 21,212 | |
|
Plus: Cash swept from discontinued operations | | 2,535 | | | 26,946 | | | — | | | — | | | 29,481 | |
|
Cash and cash equivalents at end of year | | $ | 111,305 | | | $ | 3,471 | | | $ | 34,792 | | | $ | — | | | $ | 149,568 | |
|
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