Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 20, 2015 | Jun. 30, 2014 | |
Entity Information [Line Items] | |||
Entity Registrant Name | CORELOGIC, INC. | ||
Entity Central Index Key | 36047 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | FALSE | ||
Entity Well Known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Periods Status | Yes | ||
Common stock, shares outstanding | 89,790,478 | ||
Entity Public Float | $2,745,030,000 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $104,677 | $134,419 |
Marketable securities | 22,264 | 22,220 |
Accounts receivable (less allowance for doubtful accounts of $10,826 and $13,045 in 2014 and 2013, respectively) | 214,344 | 215,020 |
Prepaid expenses and other current assets | 51,375 | 50,829 |
Income tax receivable | 13,357 | 13,516 |
Deferred income tax assets, current | 90,341 | 86,487 |
Assets of discontinued operations | 4,267 | 38,926 |
Total current assets | 500,625 | 561,417 |
Property and equipment, net | 368,614 | 197,542 |
Goodwill, net | 1,780,758 | 1,468,290 |
Other intangible assets, net | 278,270 | 175,808 |
Capitalized data and database costs, net | 333,265 | 330,188 |
Investment in affiliates, net | 103,598 | 95,343 |
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | 0 | 0 |
Restricted cash | 12,360 | 12,050 |
Other assets | 138,872 | 162,493 |
Total assets | 3,516,362 | 3,003,131 |
Liabilities and Equity | ||
Accounts payable and accrued expenses | 170,418 | 156,937 |
Accrued salaries and benefits | 99,786 | 104,781 |
Deferred revenue, current | 255,330 | 223,603 |
Current portion of long-term debt | 11,352 | 28,154 |
Liabilities of discontinued operations | 13,704 | 20,616 |
Total current liabilities | 550,590 | 534,091 |
Long-term debt, net of current | 1,319,211 | 811,776 |
Deferred revenue, net of current | 389,308 | 377,855 |
Deferred income tax liabilities, long-term | 63,979 | 76,969 |
Other liabilities | 161,084 | 147,865 |
Total liabilities | 2,484,172 | 1,948,556 |
Redeemable noncontrolling interests | 18,023 | 10,202 |
CoreLogic, Inc.'s (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; 89,343 and 91,254 shares issued and outstanding as of December 31, 2014 and 2013, respectively | 1 | 1 |
Additional paid-in capital | 605,511 | 672,165 |
Retained earnings | 492,441 | 425,796 |
Accumulated other comprehensive loss | -83,786 | -53,589 |
Total CoreLogic stockholders' equity | 1,014,167 | 1,044,373 |
Total liabilities and equity | $3,516,362 | $3,003,131 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Current assets: | ||
Allowance for doubtful accounts | $10,826 | $13,045 |
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) | 89,343 | 91,254 |
Common stock, shares outstanding (in shares) | 89,343 | 91,254 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating revenue | $1,405,040 | $1,404,401 | $1,333,479 |
Cost of services (exclusive of depreciation and amortization below) | 740,301 | 717,205 | 669,484 |
Selling, general and administrative expenses | 351,617 | 374,289 | 356,605 |
Depreciation and amortization | 138,394 | 126,332 | 117,108 |
Asset Impairment Charges | 4,970 | 44,433 | 19,880 |
Total operating expenses | 1,235,282 | 1,262,259 | 1,163,077 |
Operating income | 169,758 | 142,142 | 170,402 |
Interest expense: | |||
Interest income | 4,110 | 4,748 | 3,051 |
Interest expense | 71,092 | 52,350 | 55,524 |
Total interest expense, net | -66,982 | -47,602 | -52,473 |
Gain on investments and other, net | 3,882 | 12,032 | 4,996 |
Income from continuing operations before equity in earnings of affiliates and income taxes | 106,658 | 106,572 | 122,925 |
Provision for income taxes | 29,770 | 33,673 | 63,488 |
Income from continuing operations before equity in earnings of affiliates | 76,888 | 72,899 | 59,437 |
Equity in earnings/(loss) of affiliates, net of tax | 14,120 | 27,361 | 35,983 |
Net income from continuing operations | 91,008 | 100,260 | 95,420 |
(Loss)/income from discontinued operations, net of tax | -16,653 | 14,423 | 12,387 |
Gain/(loss) from sale of discontinued operations, net of tax | 112 | -7,008 | 3,841 |
Net income | 74,467 | 107,675 | 111,648 |
Less: Net income/(loss) attributable to noncontrolling interests | 1,267 | -53 | -645 |
Net income attributable to CoreLogic | 73,200 | 107,728 | 112,293 |
Amounts attributable to CoreLogic: | |||
Income from continuing operations, net of tax | 89,741 | 100,313 | 96,065 |
(Loss)/income from discontinued operations, net of tax | -16,653 | 14,423 | 12,387 |
Gain/(loss) from sale of discontinued operations, net of tax | 112 | -7,008 | 3,841 |
Net income attributable to CoreLogic | $73,200 | $107,728 | $112,293 |
Basic income/(loss) per share: | |||
Income from continuing operations, net of tax (in dollars per share) | $0.99 | $1.05 | $0.93 |
(Loss)/income from discontinued operations, net of tax (in dollars per share) | ($0.18) | $0.15 | $0.12 |
Gain/(loss) from sale of discontinued operations, net of tax (in dollars per share) | $0 | ($0.07) | $0.04 |
Net income/(loss) attributable to CoreLogic (in dollars per share) | $0.81 | $1.13 | $1.09 |
Diluted income/(loss) per share: | |||
Income from continuing operations, net of tax (in dollars per share) | $0.97 | $1.03 | $0.92 |
Loss from discontinued operations, net of tax (in dollars per share) | ($0.18) | $0.15 | $0.12 |
Gain/(loss) from sale of discontinued operations, net of tax (in dollars per share) | $0 | ($0.07) | $0.04 |
Net income/(loss) attributable to CoreLogic (in dollars per share) | $0.79 | $1.11 | $1.08 |
Weighted-average common shares outstanding: | |||
Basic (in shares) | 90,825 | 95,088 | 102,913 |
Diluted (in shares) | 92,429 | 97,109 | 104,050 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income/(Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net income | $74,467 | $107,675 | $111,648 |
Other comprehensive (loss)/income: | |||
Market value adjustments to marketable securities, net of tax | 27 | 32 | 742 |
Foreign currency translation adjustments | -26,673 | -43,337 | 5,921 |
Supplemental benefit plans adjustments, net of tax | -3,698 | 3,704 | -956 |
Total other comprehensive (loss)/income | -30,197 | -38,075 | 4,802 |
Comprehensive income | 44,270 | 69,600 | 116,450 |
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 1,267 | -53 | -645 |
Comprehensive income attributable to CoreLogic | 43,003 | 69,653 | 117,095 |
Swap [Member] | |||
Other comprehensive (loss)/income: | |||
Market value adjustments on interest rate swap, net of tax | -2,408 | 1,526 | -905 |
Reclassification adjustments for gains on terminated interest rate swap included in net income | $2,555 | $0 | $0 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] | |
In Thousands, except Share data, unless otherwise specified | |||||||
Balance at Dec. 31, 2011 | $1,244,821 | $1 | $1,053,447 | $209,389 | ($20,316) | $2,300 | |
Balance (in shares) at Dec. 31, 2011 | 106,544,000 | ||||||
Consolidated Statement Of Equity | |||||||
Net income (loss) attributable to CoreLogic | 112,293 | 112,293 | |||||
Less: Net income attributable to noncontrolling interests | 645 | -645 | [1] | ||||
Net income/(loss) | 111,648 | ||||||
Purchase of CoreLogic shares (in shares) | -10,029,000 | ||||||
Purchase of CoreLogic shares | -226,629 | -226,629 | |||||
Shares issued in connection with share-based compensation (in shares) | 1,183,000 | ||||||
Shares issued in connection with share-based compensation | 13,497 | 13,497 | |||||
Minimum tax withholdings related to net share settlements of restricted stock units | -3,466 | -3,466 | |||||
Share-based compensation | 20,939 | 20,939 | |||||
Distributions to noncontrolling interests | -10 | -10 | [1] | ||||
Additional Separation distribution of FAFC | 5,344 | -3,588 | |||||
Other comprehensive income (loss) | 4,802 | 4,802 | 0 | [1] | |||
Balance at Dec. 31, 2012 | 1,170,946 | 1 | 866,720 | 318,094 | -15,514 | 1,645 | [1] |
Balance (in shares) at Dec. 31, 2012 | 97,698,000 | ||||||
Total CoreLogic stockholders' equity | 1,044,373 | ||||||
Consolidated Statement Of Equity | |||||||
Net income (loss) attributable to CoreLogic | 107,728 | 107,728 | |||||
Less: Net income attributable to noncontrolling interests | 53 | -26 | [1] | ||||
Net income/(loss) | 107,702 | ||||||
Purchase of CoreLogic shares (in shares) | -8,121,000 | ||||||
Purchase of CoreLogic shares | -241,161 | -241,161 | |||||
Shares issued in connection with share-based compensation (in shares) | 1,677,000 | ||||||
Shares issued in connection with share-based compensation | 28,232 | 28,232 | |||||
Minimum tax withholdings related to net share settlements of restricted stock units | -8,665 | -8,665 | |||||
Share-based compensation | 27,039 | 27,039 | |||||
Sale Of Subsidiary Shares To And Other Increases In Noncontrolling Interests | -1,619 | -1,619 | |||||
Adjustment of carrying value of mandatorily redeemable noncontrolling interest | -26 | ||||||
Adjust redeemable noncontrolling interests to redemption value | -26 | ||||||
Other comprehensive income (loss) | -38,075 | -38,075 | 0 | ||||
Balance at Dec. 31, 2013 | 1,044,373 | 1 | 672,165 | 425,796 | -53,589 | 0 | [1] |
Balance (in shares) at Dec. 31, 2013 | 91,254,000 | 91,254,000 | |||||
Total CoreLogic stockholders' equity | 1,014,167 | ||||||
Consolidated Statement Of Equity | |||||||
Net income (loss) attributable to CoreLogic | 73,200 | 73,200 | |||||
Less: Net income attributable to noncontrolling interests | -1,267 | 0 | [1] | ||||
Net income/(loss) | 73,200 | ||||||
Purchase of CoreLogic shares (in shares) | -3,125,000 | ||||||
Purchase of CoreLogic shares | -91,475 | -91,475 | |||||
Shares issued in connection with share-based compensation (in shares) | 1,214,000 | ||||||
Shares issued in connection with share-based compensation | 15,213 | 15,213 | |||||
Minimum tax withholdings related to net share settlements of restricted stock units | -15,980 | -15,980 | |||||
Share-based compensation | 25,588 | 25,588 | |||||
Adjustment of carrying value of mandatorily redeemable noncontrolling interest | -6,555 | ||||||
Other comprehensive income (loss) | -30,197 | -30,197 | 0 | ||||
Balance at Dec. 31, 2014 | $1 | $605,511 | $492,441 | ($83,786) | $0 | [1] | |
Balance (in shares) at Dec. 31, 2014 | 89,343,000 | 89,343,000 | |||||
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjlmNzlmMTYyODgwZjQ5ODI5ZTE0OTI0NDQwOTdhZGQ4fFRleHRTZWxlY3Rpb246N0Y5MUM0RkY0Q0NBQ0QyODAxQzU2MzQ2RTk1OTJCNDcM} |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income/(loss) | $74,467 | $107,675 | $111,648 |
Less: (Loss)/income from discontinued operations, net of tax | -16,653 | 14,423 | 12,387 |
Less: Gain/(loss) from sale of discontinued operations, net of tax | 112 | -7,008 | 3,841 |
Income from continuing operations, net of tax | 91,008 | 100,260 | 95,420 |
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities: | |||
Depreciation and amortization | 138,394 | 126,332 | 117,108 |
Asset Impairment Charges | 4,970 | 44,433 | 19,880 |
Provision for bad debts and claim losses | 11,825 | 13,345 | 20,027 |
Share-based compensation | 25,379 | 26,901 | 20,752 |
Tax benefit related to stock options | -6,791 | -5,146 | -935 |
Equity in earnings of investee, net of taxes | -14,120 | -27,361 | -35,983 |
(Gain)/loss on sale of property and equipment | -13,866 | 0 | 951 |
Loss on early extinguishment of debt | 763 | 0 | 326 |
Deferred income tax | 20,986 | 8,120 | 34,476 |
Gain on investments and other, net | -3,882 | -12,032 | -4,996 |
Change in operating assets and liabilities, net of acquisitions: | |||
Accounts receivable | 13,151 | 24,553 | -35,032 |
Prepaid expenses and other assets | 1,231 | 113 | 3,017 |
Accounts payable and accrued expenses | -5,000 | -9,330 | 61,073 |
Deferred revenue | 16,010 | 48,125 | 10,830 |
Income taxes | -11,380 | -27,543 | -15,707 |
Dividends received from investments in affiliates | 38,655 | 36,680 | 70,666 |
Other assets and other liabilities | 28,260 | -19,230 | -25,222 |
Net cash provided by operating activities - continuing operations | 335,593 | 328,220 | 336,651 |
Net cash (used in)/provided by operating activities - discontinued operations | -13,717 | 25,600 | 26,494 |
Total cash provided by operating activities | 321,876 | 353,820 | 363,145 |
Cash flows from investing activities: | |||
Purchases of property and equipment | -52,025 | -68,745 | -51,545 |
Purchases of capitalized data and other intangible assets | -35,129 | -37,841 | -32,189 |
Cash paid for acquisitions, net of cash acquired | -694,871 | -92,049 | -78,354 |
Cash Received From Sale Of Subsidiary | 25,366 | 2,263 | 10,000 |
Purchases of investments | 0 | -2,351 | 0 |
Proceeds from sale of property and equipment | 13,937 | 0 | 1,863 |
Proceeds from sale of investments | 0 | 0 | 8,000 |
Change in restricted cash | -310 | 10,068 | 86 |
Net cash used in investing activities - continuing operations | -743,032 | -188,655 | -142,139 |
Net cash provided by/(used in) investing activities - discontinued operations | 1,536 | 1,862 | -5,203 |
Total cash used in investing activities | -741,496 | -186,793 | -147,342 |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 690,017 | 51,647 | 50,000 |
Debt issuance costs | -14,042 | -10,436 | 0 |
Repayments of long-term debt | -200,006 | -4,666 | -166,715 |
Shares repurchased and retired | -91,475 | -241,161 | -226,629 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 15,213 | 28,232 | 13,497 |
Minimum tax withholding paid on behalf of employees for restricted stock units | -15,980 | -8,665 | -3,466 |
Distribution to noncontrolling interests | 0 | 0 | -10 |
Tax benefit related to stock options | 6,791 | 5,146 | 935 |
Net cash provided by/(used in) financing activities - continuing operations | 390,518 | -179,903 | -332,388 |
Net cash used in financing activities - discontinued operations | 0 | 0 | -79 |
Total cash provided by/(used in) financing activities | 390,518 | -179,903 | -332,467 |
Effect of Exchange Rate on cash | -625 | -2,116 | -153 |
Net decrease in cash and cash equivalents | -29,727 | -14,992 | -116,817 |
Cash and cash equivalents at beginning of year | 134,419 | 149,568 | 258,116 |
Less: Change in cash and cash equivalents of discontinued operations | -12,181 | 27,462 | 21,212 |
Plus: Cash swept (to)/from discontinued operations | -12,196 | 27,305 | 29,481 |
Cash and cash equivalents at end of year | 104,677 | 134,419 | 149,568 |
Supplemental disclosures of cash flow information: | |||
Cash paid for interest | 59,376 | 46,432 | 51,828 |
Cash paid for income taxes | 5,436 | 71,055 | 71,283 |
Cash refunds from income taxes | 27,545 | 14,096 | 18,330 |
Distribution Of Subsidiary | 4,492 | 2,339 | 2,287 |
Non-cash investing and financing activities: | |||
Adjustment of carrying value of mandatorily redeemable noncontrolling interest | ($26) |
Description_of_the_Company
Description of the Company | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||
Description of the Company | Description of the Company | |||||||
We are a leading global property information, analytics and data-enabled services provider operating 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 under which we share control of the management of the operations with the other partner. | ||||||||
We were originally incorporated in California in 1894, and were reincorporated in Delaware on June 1, 2010 immediately following a transaction that spun-off our financial services businesses, which we refer to as "the Separation" as more fully described below. Before June 1, 2010, we operated as The First American Corporation (“First American” or “FAC”). In connection with the Separation, we changed our name to CoreLogic, Inc. and began trading on the New York Stock Exchange under the symbol “CLGX.” As used herein, the terms "CoreLogic," the Company," "we," "our" and "us" refer to CoreLogic, Inc. and our consolidated subsidiaries, except where it is clear that the terms mean only CoreLogic, Inc. and not our subsidiaries. | ||||||||
Divestiture of Non-Core Businesses | ||||||||
As of December 31, 2013, we concluded that we would actively pursue the sale of our Asset Management and Processing Solutions ("AMPS") reporting segment, which was comprised of collateral solutions, field services, technology solutions, solutions express and outsourcing services. As a result, these businesses were reflected in our consolidated financial statement as discontinued operations. | ||||||||
On September 30, 2014, we completed the sale of our collateral solutions and field services businesses, which were previously included in our AMPS reporting segment, for consideration of $29.1 million, subject to working capital adjustments, as well as contingent consideration of up to $20.0 million, which will be recognized when realized. Further, we concluded to cease pursuing the sale of our remaining product lines, previously included in our AMPS reporting segment. These remaining product lines included our technology solutions, solutions express and outsourcing services product lines and were previously reflected as discontinued operations and are now reflected as part of continuing operations within our Technology Processing Solutions ("TPS") segment reporting disclosures for all periods presented. The impact of the reclassification to our consolidated statements of operations includes goodwill impairment of $3.9 million and $42.2 million for the years ended December 31, 2014 and 2013, respectively, and is as follows: | ||||||||
2014 | 2013 | |||||||
Operating revenues | $ | 66,560 | $ | 73,775 | ||||
Net income from continuing operations | $ | 4,584 | $ | (19,022 | ) | |||
Basic income per share from continuing operations | $ | 0.05 | $ | (0.20 | ) | |||
Diluted income per share from continuing operations | $ | 0.05 | $ | (0.20 | ) | |||
Reporting Segments | ||||||||
In September 2014, we transferred our under-banked credit services business from our Data & Analytics ("D&A") segment to our TPS segment to combine this operation within our credit and income verification services and leverage the core business capabilities of the TPS segment. All segment reporting disclosures presented herein reflect this transfer. | ||||||||
Separation Transaction | ||||||||
On June 1, 2010, we completed the Separation under which we spun-off our financial services businesses into a new, publicly-traded, New York Stock Exchange-listed company called First American Financial Corporation (“FAFC”) through a distribution (the “Distribution”) of all of the outstanding shares of FAFC to the holders of our common shares, par value $1.00 per share, as of May 26, 2010. After the Distribution, we retained the information solutions businesses which we renamed CoreLogic Inc. as noted above. | ||||||||
To effect the Separation, we entered into a Separation and Distribution Agreement (the “Separation and Distribution Agreement”) that governs the rights and obligations of the Company and FAFC regarding the Distribution. It also governs the on-going relationship between the Company and FAFC subsequent to the completion of the Separation and provides for the allocation of assets and liabilities between FAFC and the Company. In addition, we also entered into a Tax Sharing Agreement (the “Tax Sharing Agreement”) as described in Note 9 – Income Taxes. | ||||||||
While we are a party to the Separation and Distribution Agreement and various other agreements relating to the Separation, we have determined that we have no material continuing involvement in the operations of FAFC. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Accounting Policies [Abstract] | ||||||||
Significant Accounting Policies | Significant Accounting Policies | |||||||
Principles of Consolidation | ||||||||
The consolidated financial statements include the accounts of the Company and all controlled subsidiaries. All significant intercompany transactions and balances have been eliminated. Equity investments in which we exercise significant influence, do not control, and are not the primary beneficiary, are accounted for using the equity method. Investments in which we do not exercise significant influence over the investee are accounted for under the cost method. | ||||||||
Out-of-Period Adjustment | ||||||||
During the second quarter of 2014, we identified an error which understated a 2013 goodwill impairment charge by $3.9 million ($3.3 million, net of tax) see Note 6 – Goodwill, Net for further discussion. We recorded an out-of-period adjustment to correct the error in the quarter ended June 30, 2014 and reduced basic and diluted net income per share by $0.04 for the year ended December 31, 2014. We assessed the materiality of this error in accordance with the SEC’s Staff Accounting Bulletin (“SAB”) No. 99 and SAB No. 108, and concluded the error was not material to the results of operations or financial condition for the prior annual, interim periods or the full year results for fiscal year 2014. | ||||||||
Use of Estimates | ||||||||
The preparation of financial statements in accordance with general accepted accounting policies ("GAAP") requires management to make estimates and assumptions that affect the financial statements. Actual results could differ from the estimates and assumptions used. | ||||||||
Cash Equivalents | ||||||||
We consider cash equivalents to be all short-term investments that have an initial maturity of 90 days or less and are not restricted. | ||||||||
Accounts Receivable | ||||||||
Accounts receivable are generally due from mortgage originators and servicers, financial institutions, insurers, and other businesses, government and government-sponsored enterprises located throughout the United States and abroad. Credit is extended based on an evaluation of the client’s financial condition, and generally, collateral is not required. | ||||||||
The allowance for doubtful accounts for all probable uncollectible receivables is based on a combination of historical data, cash payment trends, specific client issues, write-off trends, general economic conditions and other factors. These factors are continuously monitored by management to arrive at the estimate for the amount of accounts receivable that may be ultimately uncollectible. In circumstances where we are aware of a specific client’s inability to meet its financial obligations, we record a specific allowance for doubtful accounts against amounts due to reduce the net recognized receivable to the amount we reasonably believe will be collected. Management believes the balances for allowance for doubtful accounts at December 31, 2014 and 2013 are reasonably stated. | ||||||||
Marketable Securities | ||||||||
Debt securities are carried at fair value and consist primarily of investments in obligations of various corporations and mortgage-backed securities. Equity securities are carried at fair value and consist primarily of investments in marketable common and preferred stock. We classify our publicly traded debt and equity 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/(loss). As of December 31, 2014 and 2013, our marketable securities consist primarily of investments in preferred stock of $22.3 million and $22.2 million, respectively. | ||||||||
Property and Equipment | ||||||||
Property and equipment are recorded at cost. Property and equipment includes computer software acquired or developed for internal use and for use with our products. Software development costs include certain payroll-related costs of employees directly associated with developing software and payments to third parties for completed or developing software. We begin capitalizing qualifying software development costs on a project when the preliminary project stage is completed and management has authorized further funding for completion. Capitalization ends once a project is substantially complete and the software is ready for its intended use. Costs incurred in the planning and post-implementation phases of software developing are expensed as incurred. | ||||||||
Depreciation on buildings and on furniture and equipment is computed using the straight-line method over estimated useful lives of 25 to 40, and 3 to 10 years, respectively. Capitalized software costs are amortized using the straight-line method over estimated useful lives of 3 to 10 years. Leasehold improvements are amortized over useful lives that are consistent with the lease terms. | ||||||||
Capitalized Data and Database Development Costs, Net | ||||||||
Capitalized data and database development costs represent our cost to acquire or develop the proprietary databases of information for client use. The costs are capitalized from the time the third party data is acquired until the information is ready for use, assuming both the preliminary project stage is complete and management has authorized funding for the completion of the data project. Property and eviction data costs are amortized using the straight-line method over estimated useful lives of 5 to 20 years. | ||||||||
The carrying value for the flood data zone certification is $55.4 million as of December 31, 2014 and 2013. Because properly maintained flood zone databases have indefinite lives and do not diminish in value with the passage of time, no provision has been made for depreciation or amortization. We periodically analyze our assets for impairment. This analysis includes, but is not limited to, the effects of obsolescence, duplication, demand and other economic factors. See further discussion in Note 4 – Capitalized Data and Database Development Costs, Net. | ||||||||
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. | ||||||||
Purchase Accounting | ||||||||
The purchase method of accounting requires companies to assign values to assets and liabilities acquired based upon their fair values at the acquisition date. In most instances, there are not readily defined or listed market prices for individual assets and liabilities acquired in connection with a business, including intangible assets. The determination of fair value for assets and liabilities in many instances requires a high degree of estimation. The valuation of intangible assets, in particular, is very subjective. We generally obtain third-party valuations to assist us in estimating fair values. The use of different valuation techniques and assumptions could change the amounts and useful lives assigned to the assets and liabilities acquired and related amortization expense. | ||||||||
Goodwill | ||||||||
We perform an annual impairment test for goodwill and other indefinite-lived intangible assets for each reporting unit every fourth quarter. In addition, we periodically assess whether events or circumstances have occurred that potentially indicate the carrying amounts of these assets may not be recoverable. In assessing the overall carrying value of our goodwill and other intangibles, we first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Examples of such events or circumstances include the following: cost factors, financial performance, legal and regulatory factors, entity specific events, industry and market factors, macroeconomic conditions and other considerations. | ||||||||
If, after assessing the totality of events or circumstances, we determine that it is more likely than not the fair value of a reporting unit is less than its carrying value, then our impairment testing process may include two additional steps. The first step (“Step 1”) compares the fair value of each reporting unit to its book value. The fair value of each reporting unit is determined by using discounted cash flow analysis and market approach valuations. If the fair value of the reporting unit exceeds its book value, then goodwill is not considered impaired and no additional analysis is required. However, if the book value is greater than the fair value, a second step (“Step 2”) must be completed to determine if the implied fair value of the goodwill exceeds the book value of the goodwill. | ||||||||
Step 2 involves calculating an implied fair value of goodwill for each reporting unit for which Step 1 indicated impairment. The implied fair value of goodwill is determined in a manner similar to the amount of goodwill calculated in a business combination, by measuring the excess of the estimated fair value of the reporting unit, as determined in Step 1, over the aggregate estimated fair values of the individual assets, liabilities and identifiable intangibles as if the reporting unit was being acquired in a business combination. If the implied fair value of goodwill exceeds the carrying value of goodwill assigned to the reporting unit, there is no impairment. If the carrying value of goodwill assigned to a reporting unit exceeds the implied fair value of the goodwill, an impairment loss is recorded for the excess. An impairment loss cannot exceed the carrying value of goodwill assigned to a reporting unit, and the loss establishes a new basis in the goodwill. Subsequent reversal of goodwill impairment losses is not permitted. The valuation of goodwill requires assumptions and estimates of many critical factors including revenue growth, cash flows, market multiples and discount rates. Forecasts of future operations are based, in part, on operating results and our expectations as to future market conditions. These types of analysis contain uncertainties because they require us to make assumptions and to apply judgments to estimate industry economic factors and the profitability of future business strategies. However, if actual results are not consistent with our estimates and assumptions, we may be exposed to an additional impairment loss that could be material. | ||||||||
These tests utilize a variety of valuation techniques, all of which require us to make estimates and judgments. Fair value is determined by employing an expected present value technique, which utilizes multiple cash flow scenarios that reflect a range of possible outcomes and an appropriate discount rate. The use of comparative market multiples compares the reporting unit to other comparable companies (if such comparables are present in the marketplace) based on valuation multiples to arrive at a fair value. We also use certain of these valuation techniques in accounting for business combinations, primarily in the determination of the fair value of acquired assets and liabilities. In assessing the fair value, we utilize the results of the valuations and consider the range of fair values determined under all methods and the extent to which the fair value exceeds the book value of the equity. See further discussion in Note 6 – Goodwill, Net. | ||||||||
Other Intangible Assets | ||||||||
Our intangible assets consist of covenants not to compete, client lists and trade names. Each of these intangible assets is amortized on a straight-line basis over its useful life ranging from 2 to 20 years and is subject to impairment tests on a periodic basis. | ||||||||
Long-Lived Assets | ||||||||
Long-lived assets held and used include investment in affiliates, property and equipment, capitalized software and other intangible assets. Management uses estimated future cash flows (undiscounted and excluding interest) to measure the recoverability of long-lived assets held and used, at the asset group level, whenever events or changes in circumstances indicate that the carrying value of an asset may not be fully recoverable. If the undiscounted cash flow analysis indicates a long-lived asset is not recoverable, the impairment loss recorded is the excess of the carrying amount of the asset over its fair value. | ||||||||
In addition, we carry long-lived assets held for sale at the lower of cost or market as of the date that certain criteria have been met. | ||||||||
Revenue Recognition | ||||||||
We derive our revenues principally from U.S. mortgage originators and servicers with good creditworthiness. Our product and service deliverables are generally comprised of data or other related services. Our revenue arrangements with our clients generally include a work order or written agreement specifying the data products or services to be delivered and related terms of sale including payment amounts and terms. The primary revenue recognition-related judgments we exercise are to determine when all of the following criteria have been met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) our price to the buyer is fixed or determinable; and (4) collectability is reasonably assured. | ||||||||
For products or services where delivery occurs at a point in time, we recognize revenue upon delivery. These products or services include sales of tenancy data and analytics, credit solutions for mortgage and automotive industries, under-banked credit services, flood data and services, claims management and default services. | ||||||||
For products or services where delivery occurs over time, we recognize revenue ratably on a subscription basis over the contractual service period once initial delivery has occurred. Generally these service periods range from one to three years. Products or services recognized on a license or subscription basis include information and analytic products, flood database licenses, realtors solutions and lending solutions. For certain of our products or services, clients may also pay us upfront set-up fees, which we defer and recognize into revenue over the longer of the contractual term or expected client relationship period. | ||||||||
Tax service revenues are comprised of periodic loan fees and life-of-loan fees. For periodic loans, we generate monthly fees at a contracted fixed rate for as long as we service the loan. Loans serviced with a one-time, life-of-loan fee are billed once the loan is boarded to our tax servicing system in accordance with a client tax servicing agreement. Life-of-loan fees are then deferred and recognized ratably over the expected service period. The rates applied to recognize revenues assume a 10-year expected life and are adjusted to reflect prepayments. We review the tax service contract portfolio quarterly to determine if there have been material changes in the expected lives, deferred on-boarding costs, expected service period and/or changes in the number and/or timing of prepayments. Accordingly, we may adjust the rates to reflect current trends. | ||||||||
Cost of Services | ||||||||
Cost of services represents direct costs incurred in the creation and delivery of our products and services. Cost of services consists primarily of data acquisition costs, royalty fees, hardware and software expense associated with transaction processing systems, telecommunication and computer network expense and occupancy costs associated with facilities where these functions are performed by employees. Cost of services also includes client service costs, which include personnel costs to collect, maintain and update our proprietary databases, to develop and maintain software application platforms and to provide consumer and client call center support. | ||||||||
Selling, General and Administrative Expenses | ||||||||
Selling, general and administrative expenses consist primarily of personnel-related costs, selling costs, restructuring costs, corporate costs, fees for professional and consulting services, advertising costs, uncollectible accounts and other costs of administration such as marketing, human resources, finance, legal and administrative roles. | ||||||||
Income Taxes | ||||||||
We account for income taxes under the asset and liability method, whereby we recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as expected benefits of utilizing net operating loss and credit carryforwards. We measure deferred tax assets and liabilities using enacted tax rates we expect to apply in the years in which we expect to recover or settle those temporary differences. We recognize in income the effect of a change in tax rates on deferred tax assets and liabilities in the period that includes the enactment date. | ||||||||
We recognize the effect of income tax positions only if sustaining those positions is more likely than not. We reflect changes in recognition or measurement of uncertain tax positions in the period in which a change in judgment occurs. We recognize interest and penalties, if any, related to uncertain tax positions within income tax expense. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheet. | ||||||||
We evaluate the need to establish a valuation allowance based upon expected levels of taxable income, future reversals of existing temporary differences, tax planning strategies and recent financial operations. We establish a valuation allowance to reduce deferred tax assets to the extent we believe it is more-likely-than-not that some or all of the deferred tax assets will not be realized. | ||||||||
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 December 31, 2014 and 2013: | ||||||||
2014 | 2013 | |||||||
Cumulative foreign currency translation | $ | (77,460 | ) | $ | (50,787 | ) | ||
Cumulative supplemental benefit plans | (4,266 | ) | (568 | ) | ||||
Net unrecognized losses on interest rate swap | (2,335 | ) | (2,482 | ) | ||||
Net unrealized gains on marketable securities | 275 | 248 | ||||||
Accumulative other comprehensive loss | $ | (83,786 | ) | $ | (53,589 | ) | ||
Share-based Compensation | ||||||||
We measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The cost is recognized over the period during which an employee is required to provide services in exchange for the award. We used the binomial lattice option-pricing model to estimate the fair value for any options granted after December 31, 2005 through December 31, 2009. For the options granted subsequent to December 31, 2009, we used the Black-Scholes model to estimate the fair value. We utilize the Monte-Carlo simulation to estimate the fair value for any performance-based restricted stock units (“PBRSUs”) granted. We utilize the straight-line single option method of attributing the value of stock-based compensation expense unless another expense attribution model is required. As stock-based compensation expense recognized in results of operations is based on awards ultimately expected to vest, stock-based compensation expense has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. We apply the long-form method for determining the pool of windfall tax benefits. | ||||||||
Currently, our primary means of providing stock-based compensation is granting restricted stock units (“RSUs”), PBRSUs and stock options. The fair value of any grant is based on the market value of our shares on the date of grant and is generally recognized as compensation expense over the vesting period. Shares granted to certain key employees have graded vesting and have a service and performance requirement and are therefore expensed using the accelerated multiple-option method to record stock-based compensation expense. All other awards have graded vesting and service is the only requirement to vest in the award and are therefore generally expensed using the straight-line single option method to record stock-based compensation expense. | ||||||||
In addition, we have an employee stock purchase plan that allows eligible employees to purchase common stock of the Company at 85.0% of the closing price on the first or last day of each quarter, whichever is lower (which was updated for 2014 from the closing price on the last day of each quarter). We recognize an expense in the amount equal to the estimated fair value of the discount. The 2001 employee stock purchase plan expired in September 2011. Our 2012 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. | ||||||||
See Note 13 –Share-based Compensation Plans for additional information related to stock options and restricted stock units. | ||||||||
Foreign Currency | ||||||||
The functional currencies of our foreign subsidiaries are their respective local currencies. The financial statements of the foreign subsidiaries are translated into U.S. dollars for consolidation as follows: assets and liabilities at the exchange rate as of the balance sheet date, stockholders’ equity at the historical rates of exchange and income and expense amounts at average rates prevailing throughout the period. Translation adjustments resulting from the translation of the subsidiaries’ accounts are included in “Accumulated other comprehensive income/(loss),” a separate component of stockholders’ equity. Gains and losses resulting from foreign currency transactions are included within “Selling, general and administrative expenses” and are not material to the results of operations. | ||||||||
Earnings/(loss) Per Share | ||||||||
Basic earnings/(loss) per share is computed by dividing net income/(loss) available to our stockholders by the weighted-average number of common shares outstanding. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the weighted-average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if dilutive stock options had been exercised and RSUs and PBRSUs were vested. The dilutive effect of stock options and unvested RSUs and PBRSUs is computed using the treasury stock method, which assumes any proceeds that could be obtained upon the exercise of stock options and vesting of RSUs and PBRSUs would be used to purchase shares of common stock at the average market price for the period. The assumed proceeds include the purchase price the grantee pays, the hypothetical windfall tax benefit that we receive upon assumed exercise or vesting and the hypothetical average unrecognized compensation expense for the period. We calculate the assumed proceeds from excess tax benefits based on the “as-if” deferred tax assets calculated under stock-based compensation standards. | ||||||||
Tax Escrow Disbursement Arrangements | ||||||||
We administer tax escrow disbursements as a service to our clients in connection with our tax services business. These deposits are maintained in segregated accounts for the benefit of our clients. These deposits totaled $265.6 million and $317.2 million at December 31, 2014 and 2013, respectively. Because these deposits are held on behalf of our clients, they are not our funds and, therefore, are not included in the accompanying consolidated balance sheets. | ||||||||
These deposits generally remain in the accounts for a period of two to five business days, and we invest the funds in highly-rated, liquid investments, such as bank deposit products or AAA-rated money market funds. We earn interest income from these investments and bear the risk of any losses. 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. | ||||||||
Under our contracts with our clients, if we make a payment in error or fail to pay a taxing authority when a payment is due, we could be held liable to our clients for all or part of the financial loss they suffer as a result of our act or omission. We maintained claim reserves relating to incorrect disposition of assets of $20.2 million and $21.4 million as of December 31, 2014 and 2013, respectively. | ||||||||
Recent Accounting Pronouncements | ||||||||
In August 2014, the Financial Accounting Standards Board (“FASB”) issued updated guidance related to determining whether substantial doubt exists about an entity's ability to continue as a going concern. The amendment provides guidance for determining whether conditions or events give rise to substantial doubt that an entity has the ability to continue as a going concern within one year following issuance of the financial statements, and requires specific disclosures regarding the conditions or events leading to substantial doubt. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning after December 15, 2016. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. | ||||||||
In June 2014, the FASB issued updated guidance related to stock compensation. The amendment requires that a performance target that affects vesting and that could be achieved after the requisite period, be treated as a performance condition. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. | ||||||||
In May 2014, the FASB issued updated guidance on revenue recognition in order to 1) remove inconsistencies in revenue requirements, 2) provide a better framework for addressing revenue issues, 3) improve comparability across entities, industries, etc., 4) provide more useful information through improved disclosures, and 5) simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. Under the amendment, an entity should recognize revenue to depict the transfer of promised goods or services to clients in the amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also specifies the accounting treatment for the incremental costs of obtaining a contract, which would not have been incurred had the contract not been obtained. Further, an entity is required to disclose sufficient information to enable the user of the financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows from contracts with clients. The updated guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. | ||||||||
In April 2014, the 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. Additionally, the elimination of the component's operations, cash flows and significant continuing involvement conditions have been removed. Further, 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 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 deferred tax asset 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 the 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. |
Property_and_Equipment_Net
Property and Equipment, Net | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property and Equipment, Net | Property and Equipment, Net | |||||||
Property and equipment, net as of December 31, 2014 and 2013 consists of the following: | ||||||||
(in thousands) | 2014 | 2013 | ||||||
Land | $ | 4,000 | $ | 4,000 | ||||
Buildings | 230 | 10,780 | ||||||
Furniture and equipment | 91,397 | 90,420 | ||||||
Capitalized software | 701,482 | 498,522 | ||||||
Leasehold improvements | 30,001 | 50,369 | ||||||
827,110 | 654,091 | |||||||
Less: accumulated depreciation | (458,496 | ) | (456,549 | ) | ||||
Property and equipment, net | $ | 368,614 | $ | 197,542 | ||||
Depreciation expense for property and equipment was approximately $68.3 million, $60.8 million and $62.4 million for the years ended December 31, 2014, 2013 and 2012, respectively. We have reclassified $1.7 million of property and equipment, net, to assets of discontinued operations as of December 31, 2013. Further, we recognized a gain of $13.9 million and a loss of $1.0 million on sale of property and equipment for the years ended December 31, 2014 and 2012, respectively. See Note 12 - Fair Value of Financial Instruments for further discussion on property and equipment, net measured at fair value on a nonrecurring basis. |
Capitalized_Data_and_Database_
Capitalized Data and Database Development Costs, Net | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Research and Development [Abstract] | ||||||||
Capitalized Data and Database Developement Costs, Net | Capitalized Data and Database Development Costs, Net | |||||||
Capitalized data and database development costs, net as of December 31, 2014 and 2013 consists of the following: | ||||||||
(in thousands) | 2014 | 2013 | ||||||
Property data | $ | 477,221 | $ | 446,991 | ||||
Flood data | 55,416 | 55,416 | ||||||
Eviction data | 18,068 | 16,559 | ||||||
550,705 | 518,966 | |||||||
Less accumulated amortization | (217,440 | ) | (188,778 | ) | ||||
Capitalized data and database costs, net | $ | 333,265 | $ | 330,188 | ||||
Amortization expense for capitalized data and database development costs was approximately $32.6 million, $30.1 million and $27.3 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Investment_in_Affiliates_Net
Investment in Affiliates, Net | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||
Investment in Affiliates, Net | Investment in Affiliates, Net | |||||||||||
Investment in affiliates, net is 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. The investment is carried at the cost of acquisition, including subsequent capital contributions and loans from us, plus our equity in undistributed earnings or losses since acquisition. Income tax expense of $8.9 million, $16.5 million and $22.1 million was recorded on those earnings for the years ended December 31, 2014, 2013 and 2012, respectively. Dividends from equity method investments were $38.7 million, $36.7 million and $70.7 million for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||
One of our subsidiaries owns a 50.1% interest in RELS LLC, a joint venture that provides products and services used in connection with loan originations. This investment in an affiliate contributed 80.0%, 70.7% and 73.8% of our total equity in earnings of affiliates, net of tax, for the years ended December 31, 2014, 2013 and 2012, respectively. For the year ended December 31, 2014, 2013 and 2012 we recorded $6.4 million, $8.7 million and $14.2 million, respectively, of operating revenues related to RELS LLC. Based on the terms and conditions of the joint venture agreement, we have significant influence but do not have control of, or a majority voting interest in, the joint venture. Accordingly, this investment is also accounted for under the equity method. The following summarized financial information for this investment (assuming 100.0% ownership interest) is as follows: | ||||||||||||
(in thousands) | 2014 | 2013 | ||||||||||
Balance sheets | ||||||||||||
Total assets | $ | 44,536 | $ | 56,925 | ||||||||
Total liabilities | $ | 15,977 | $ | 28,562 | ||||||||
(in thousands) | 2014 | 2013 | 2012 | |||||||||
Statements of operations | ||||||||||||
Total revenues | $ | 221,328 | $ | 347,070 | $ | 451,876 | ||||||
Expenses and other | 183,761 | 282,686 | 370,533 | |||||||||
Net income from continuing operations | $ | 37,567 | $ | 64,384 | $ | 81,343 | ||||||
Income from discontinued operations | — | — | 7,050 | |||||||||
Net income attributable to RELS LLC | $ | 37,567 | $ | 64,384 | $ | 88,393 | ||||||
CoreLogic equity in earnings of affiliate, pre-tax | $ | 18,821 | $ | 32,256 | 44,285 | |||||||
In March 2014, we acquired certain equity interests, assets and intellectual property; which we collectively refer to as "MSB/DataQuick." See Note 16 - Acquisitions for additional information. The acquisition included a 29.4% interest in Symbility Solutions Inc. ("Symbility"). In connection with the purchase price allocation, we recorded $18.3 million to reflect our basis in Symbility. The purchase allocation included $11.3 million of basis difference between the purchase price and our interest in the net assets of Symbility, which is comprised of an indefinite-lived component of $2.0 million and a finite-lived component of $9.4 million with an estimated weighted-average life of 15 years. | ||||||||||||
In September 2013, we acquired an additional 10% interest in PropertyIQ Ltd. ("PIQ") for NZD$3.3 million, or $2.6 million, a New Zealand joint venture, resulting in a 60% controlling interest. As we previously held a noncontrolling interest in PIQ, we recorded a gain of approximately $6.6 million during the third quarter of 2013, which is included in gain on investments and other, net in the accompanying consolidated statement of operations. Prior to our acquisition of the controlling interest, we accounted for the investment in PIQ using the equity method. See Note 16 - Acquisitions for additional information. | ||||||||||||
In August 2012, we completed the disposition of our remaining 29.8% interest in Lone Wolf Real Estate Technologies, Inc. for $8.0 million. The disposition resulted in a gain of $2.2 million, net for the year ended December 31, 2013. This gain is included in gain on investments and other, net in the accompanying consolidated statements of operations. | ||||||||||||
See Note 12 - Fair Value of Financial Instruments for further discussion on investment in affiliates, net measured at fair value on a nonrecurring basis. |
Goodwill_Net
Goodwill, Net | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||
Goodwill | Goodwill, Net | |||||||||||
A reconciliation of the changes in the carrying amount of goodwill, net, by reporting unit, for the years ended December 31, 2014 and 2013 is as follows: | ||||||||||||
(in thousands) | D&A | TPS | Consolidated | |||||||||
Balance at January 1, 2013 | ||||||||||||
Goodwill | $ | 708,577 | $ | 653,771 | $ | 1,362,348 | ||||||
Accumulated impairment losses | (600 | ) | (6,925 | ) | (7,525 | ) | ||||||
Goodwill, net | 707,977 | 646,846 | 1,354,823 | |||||||||
Acquisitions | 26,846 | 28,942 | 55,788 | |||||||||
Translation adjustments | (20,262 | ) | — | (20,262 | ) | |||||||
Document solutions reclassification | (26,044 | ) | 26,044 | — | ||||||||
Other | 325 | — | 325 | |||||||||
Balance at December 31, 2013 | ||||||||||||
Goodwill, net | 688,842 | 701,832 | 1,390,674 | |||||||||
Acquisitions | 285,801 | 39,140 | 324,941 | |||||||||
Transfer from assets of discontinued operations | — | 77,616 | 77,616 | |||||||||
Impairment loss on transferred assets of discontinued operations | — | (3,900 | ) | (3,900 | ) | |||||||
Translation adjustments | (12,527 | ) | (303 | ) | (12,830 | ) | ||||||
Under-banked credit services reclassification | (9,044 | ) | 9,044 | — | ||||||||
Other | 4,257 | — | 4,257 | |||||||||
Balance at December 31, 2014 | ||||||||||||
Goodwill, net | $ | 957,329 | $ | 823,429 | $ | 1,780,758 | ||||||
As of December 31, 2013, we concluded that we would actively pursue the sale of our Asset Management and Processing Solutions ("AMPS") reporting segment, which was comprised of collateral solutions, field services, technology solutions, solutions express and outsourcing services. As a result, these businesses were reflected in our consolidated financial statement as discontinued operations. On September 30, 2014, we completed the sale of our collateral solutions and field services businesses, which were previously included in our AMPS reporting segment, for consideration of $29.1 million, subject to working capital adjustments, as well as contingent consideration of up to $20.0 million. Further, we concluded to cease pursuing the sale of our remaining product lines, previously included in our AMPS reporting segment. These remaining product lines included our technology solutions, solutions express and outsourcing services product lines. These product lines were previously reflected as discontinued operations and are now reflected as part of continuing operations within our TPS segment reporting disclosures for all periods presented. See Note 1 - Description of the Company and Note 18 - Discontinued Operations for further discussion. | ||||||||||||
During 2013, as part of the process of marketing the sale of the AMPS businesses, we developed 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 of $42.2 million related to our retained product lines, which is currently within continuing operations, and a pre-tax non-cash impairment of $9.6 million related to the businesses sold within discontinued operations. During the second quarter of 2014, we identified and corrected an error which understated the 2013 goodwill impairment charge by $3.9 million related to the retained product lines within continuing operations. | ||||||||||||
At September 30, 2014, we allocated the former AMPS reporting unit goodwill between the businesses sold and the retained product lines based on their relative fair value and also evaluated the retained goodwill of $73.7 million at the TPS reporting unit level noting no additional impairment indicators. Additionally, we reclassified $20.0 million of goodwill, net, to assets of discontinued operations as of the year ended December 31, 2013, in connection with the sale of our collateral solutions and field services businesses. Further, in September 2014, we transferred our under-banked credit services business from our D&A segment to our TPS segment due to changes in our management structure and internal reporting, see Note 1 - Description of the Company. As a result of the transfer, we revised our reporting for segment disclosure purposes, see Note 19 - Segment Financial Information and reassessed our reporting units for purposes of evaluating the carrying value of our goodwill. This assessment required us to perform a third quarter reassignment of our goodwill to each reporting unit impacted using the relative fair value approach, based on the fair values of the reporting units as of August 31, 2014. As of December 31, 2014 and December 31, 2013, the assessment resulted in $8.7 million and $9.0 million, respectively, of goodwill allocated to our TPS reporting unit previously from D&A. | ||||||||||||
In connection with our acquisition of MSB/DataQuick, we recorded $277.8 million of goodwill within our D&A reporting unit and $29.9 million of goodwill within our TPS reporting unit for the year ended December 31, 2014. Further, for the year ended December 31, 2014, we recorded $2.3 million of goodwill in connection with our acquisition of Terralink International Limited ("Terralink") within our D&A segment, $9.2 million of goodwill in connection with our acquisition of Bank of America's mortgage-related credit reporting operations within our TPS segment and $5.7 million of goodwill in connection with acquisitions that were not significant, all of which were within our D&A reporting unit. See Note 16 - Acquisitions for additional information. For the year ended December 31, 2013, we recorded $12.7 million of goodwill in connection with our acquisition of EQECAT, Inc. and EQECAT Sarl ("EQECAT") in December 2013, $14.9 million of goodwill in connection with our acquisition of an additional 10% interest in PIQ in September 2013, $28.9 million of goodwill in connection with our acquisition of Bank of America's flood zone determination and tax processing services operations in July 2013 and $0.5 million of goodwill in connection with an acquisition that was not significant. | ||||||||||||
Our policy is to perform an annual goodwill impairment test for each reporting unit in the fourth quarter. In addition to our annual impairment test, we periodically assess whether events or circumstances occurred that potentially indicate that the carrying amounts of these assets may not be recoverable. Determining the fair value of a reporting unit is judgmental in nature and requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates and future market conditions, among others. Key assumptions used to determine the fair value of our reporting units in our testing were: (a) expected cash flow for the period from 2015 to 2020; and (b) a discount rate ranging from 9.0% to 9.5%, which was based on management's best estimate of the after-tax weighted average cost of capital. Based on the results of our fourth quarter goodwill impairment test, the goodwill attributable to our reporting units is not impaired as of December 31, 2014. It is reasonably possible that changes in the facts, judgments, assumptions and estimates used in assessing the fair value of the goodwill could cause a reporting unit to become impaired. |
Other_Identifiable_Intangible_
Other Identifiable Intangible Assets | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||
Other Identifiable Intangible Assets | Other Identifiable Intangible Assets, Net | |||||||||||||||||||||||
Other identifiable intangible assets, net as of December 31, 2014 and 2013 consist of the following: | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in thousands) | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | ||||||||||||||||||
Client lists | $ | 394,070 | $ | (192,612 | ) | $ | 201,458 | $ | 318,939 | $ | (165,578 | ) | $ | 153,361 | ||||||||||
Non-compete agreements | 9,332 | (7,351 | ) | 1,981 | 9,150 | (6,659 | ) | 2,491 | ||||||||||||||||
Trade names and licenses | 93,497 | (18,666 | ) | 74,831 | 31,108 | (11,152 | ) | 19,956 | ||||||||||||||||
$ | 496,899 | $ | (218,629 | ) | $ | 278,270 | $ | 359,197 | $ | (183,389 | ) | $ | 175,808 | |||||||||||
Amortization expense for other identifiable intangible assets, net was $37.5 million, $35.1 million and $27.1 million for the years ended December 31, 2014, 2013 and 2012, respectively. See Note 12 - Fair Value of Financial Instruments for further discussion on other identifiable intangible assets measured at fair value on a nonrecurring basis. | ||||||||||||||||||||||||
Estimated amortization expense for other identifiable intangible assets anticipated for the next five years is as follows: | ||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
2015 | $ | 39,795 | ||||||||||||||||||||||
2016 | 33,650 | |||||||||||||||||||||||
2017 | 31,702 | |||||||||||||||||||||||
2018 | 30,898 | |||||||||||||||||||||||
2019 | 28,139 | |||||||||||||||||||||||
Thereafter | 114,086 | |||||||||||||||||||||||
$ | 278,270 | |||||||||||||||||||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Long-term Debt | Long-Term Debt | ||||||||
Long-term debt as of December 31, 2014 and 2013 consist of the following: | |||||||||
(in thousands) | 2014 | 2013 | |||||||
Acquisition-related notes: | |||||||||
Non-interest bearing acquisition note, $5.0 million installment due March 2016 | $ | 4,623 | $ | 9,276 | |||||
Notes: | |||||||||
7.25% senior notes due June 2021 | 393,000 | 393,000 | |||||||
5.7% senior debentures due August 2014 | — | 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 3.92% at December 31, 2014 | 85,000 | — | |||||||
Term loan facility borrowings due March 2019, weighted-average interest rate of 2.41% at December 31, 2014 | 786,250 | — | |||||||
Revolving line of credit borrowings due May 2016, weighted-average interest rate of 1.9% at December 31, 2013, extinguished March 2014 | — | 100,000 | |||||||
Term loan facility borrowings due 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 | 2,045 | 1,559 | |||||||
Total long-term debt | 1,330,563 | 839,930 | |||||||
Less current portion of long-term debt | 11,352 | 28,154 | |||||||
Long-term debt, net of current portion | $ | 1,319,211 | $ | 811,776 | |||||
7.25% Senior Notes | |||||||||
On May 20, 2011, CoreLogic, Inc. 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. Separate financial statements for each guarantor subsidiary are not included in this filing because each guarantor subsidiary is 100% owned and the guarantees are full and unconditional, as well as joint and several. There were no significant restrictions on the ability of the parent company 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. We repurchased $7.0 million of the Notes during 2012. | |||||||||
The Notes are senior unsecured obligations and: (i) rank equally with any of our existing and future senior unsecured indebtedness; (ii) rank senior to all our existing and future subordinated indebtedness; (iii) are subordinated to any of our secured indebtedness (including indebtedness under our credit facility) to the extent of the value of the assets securing such indebtedness; and (iv) are structurally subordinated to all of the existing and future liabilities (including trade payables) of each of our subsidiaries that do not guarantee the Notes. The guarantees will: (i) rank equally with any existing and future senior unsecured indebtedness of the guarantors; (ii) rank senior to all existing and future subordinated indebtedness of the guarantors; and (iii) are subordinated in right of payment to any secured indebtedness of the guarantors (including the guarantee of our credit facility) to the extent of the value of the assets securing such indebtedness. | |||||||||
The Notes are redeemable by us, in whole or in part on or after June 1, 2016 at a price up to 103.63% of the aggregate principal amount of the Notes, plus accrued and unpaid interest, if any, to the applicable redemption date, subject to other limitations. We may also redeem up to 35.0% of the original aggregate principal amount of the Notes at any time prior to June 1, 2014 with the proceeds from certain equity offerings at a price equal to 107.25% of the aggregate principal amount of the Notes, together with accrued and unpaid interest, if any, to the applicable redemption date, subject to certain other limitations. We may also redeem some or all of the Notes before June 1, 2016 at a redemption price equal to 100.0% of the aggregate principal amount of the Notes, plus a "make-whole premium," plus accrued and unpaid interest, if any, to the redemption date. | |||||||||
Upon the occurrence of specific kinds of change of control events, holders of the Notes have the right to cause us to purchase some or all of the Notes at 101.0% of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase. | |||||||||
The indenture governing the Notes contains restrictive covenants that limit, among other things, our ability and that of our restricted subsidiaries to incur additional indebtedness or issue certain preferred equity, pay dividends or make other distributions or other restricted payments, make certain investments, create restrictions on distributions from restricted subsidiaries, create liens on properties and certain assets to secure debt, sell certain assets, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets, enter into certain transactions with affiliates and designate our subsidiaries as unrestricted subsidiaries. The indenture also contains customary events of default, including upon the failure to make timely payments on the Notes or other material indebtedness, the failure to satisfy certain covenants and specified events of bankruptcy and insolvency. If we have a significant increase in our outstanding debt or if our EBITDA decreases significantly, we may be unable to incur additional amounts of indebtedness, and the holders of the notes may be unwilling to permit us to amend the restrictive covenants to provide additional flexibility. In addition, the indenture contains a financial covenant for the incurrence of additional indebtedness that requires that the interest coverage ratio be at least 2.00 to 1.00 on a pro forma basis after giving effect to any new indebtedness. There are carve-outs that permit us to incur certain indebtedness notwithstanding satisfaction of this ratio, but they are limited. Based on our EBITDA and interest charges as of December 31, 2014, we would be able to incur additional indebtedness without breaching the limitation on indebtedness covenant contained in the indenture and we are in compliance with all of our covenants under the indenture. | |||||||||
Credit Agreement | |||||||||
On March 25, 2014, the Company, CoreLogic Australia Pty Limited and the guarantors named therein entered into a senior secured credit facility agreement (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 (the "Terminated Credit Agreement"). The Credit Agreement provides for an $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. | |||||||||
The loans under the Credit Agreement bear interest, at our election, at (i) the Alternate Base Rate (as defined in the Credit Agreement) plus the Applicable Rate (as defined in the Credit Agreement) or (ii) the London interbank offering rate for Eurocurrency borrowings, or the LIBO Rate, adjusted for statutory reserves, or the Adjusted LIBO Rate plus the Applicable Rate. The initial Applicable Rate for Alternate Base Rate borrowings is 1.00% and for Adjusted LIBO Rate borrowings is 2.00%. Starting with the full fiscal quarter after the closing date, the Applicable Rate will vary depending on our leverage ratio. The minimum Applicable Rate for Alternate Base Rate borrowings will be 0.25% and the maximum will be 1.50%. The minimum Applicable Rate for Adjusted LIBO Rate borrowings will be 1.25% and the maximum will be 2.50%. The Credit Agreement also requires us to pay commitment fees for the unused portion of the Revolving Facility, which will be a minimum of 0.25% and a maximum of 0.50%, depending on our leverage ratio. | |||||||||
The obligations under the Credit Agreement are our and the guarantors' senior secured obligations, collateralized by a lien on substantially all of our and the guarantors' personal property assets and mortgages or deeds of trust on our and the guarantors' real property with a fair market value of $10.0 million or more (collectively, the "Collateral") and rank senior to any of our and the guarantors' unsecured indebtedness (including the Notes) to the extent of the value of the Collateral. | |||||||||
The Credit Agreement provides that loans under the Term Facility shall be repaid in quarterly installments, commencing on June 30, 2014 and continuing on each three-month anniversary thereafter until and including December 31, 2018 in an amount equal to $10.6 million on each repayment date from June 30, 2014 through March 31, 2016, $21.3 million on each repayment date from June 30, 2016 through March 31, 2017 and $31.9 million on each repayment date from June 30, 2017 through December 31, 2018. The outstanding balance of the term loan will be due on the fifth anniversary of the closing date of the Credit Agreement. The Term Facility is also subject to prepayment from (i) the net cash proceeds of certain debt incurred or issued by us and the guarantors and (ii) the net cash proceeds received by us or the guarantors from certain assets sales and recovery events, subject to certain reinvestment rights. | |||||||||
The Credit Agreement contains financial maintenance covenants, including a (i) maximum total leverage ratio not to exceed 4.25 to 1.00 (stepped down to 4.00 to 1.00 starting with the fiscal quarter ending June 30, 2014, with a further step down to 3.50 to 1.00 starting with the fiscal quarter ending June 30, 2015) and (ii) a minimum interest coverage ratio of not less than 3.00 to 1.00. The Credit Agreement also contains restrictive covenants that limit, among other things, our ability and that of our subsidiaries, to incur additional indebtedness or issue certain preferred equity, pay dividends or make other distributions or other restricted payments, make certain investments, create restrictions on distributions from subsidiaries, to enter into sale leaseback transactions, amend the terms of certain other indebtedness, create liens on certain assets to secure debt, sell certain assets, consolidate, merge, sell or otherwise dispose of all or substantially all of our assets and enter into certain transactions with affiliates. The Credit Agreement also contains customary events of default, including upon the failure to make timely payments under the Term Facility and the Revolving Facility or other material indebtedness, the failure to satisfy certain covenants, the occurrence of a change of control and specified events of bankruptcy and insolvency. If we have a significant increase in our outstanding debt or if our earnings decrease significantly, we may be unable to incur additional amounts of indebtedness, and the lenders under the Credit Agreement may be unwilling to permit us to amend the financial or restrictive covenants described above to provide additional flexibility. | |||||||||
For the year ended December 31, 2014, we prepaid $31.9 million of outstanding indebtedness under the Term Facility. This prepayment was applied to the most current portion of the term loan amortization schedule. At December 31, 2014, we had borrowing capacity under the revolving lines of credit of $465.0 million, and were in compliance with the financial and restrictive covenants of our Credit Agreement. As of December 31, 2014 and 2013, we have recorded $9.2 million and $4.6 million, respectively, of accrued interest expense. | |||||||||
7.55% Senior Debentures | |||||||||
In April 1998, we issued $100.0 million in aggregate principal amount of 7.55% senior debentures due 2028. In April 2010, in anticipation of the Separation, we commenced a cash tender offer for these debentures and also solicited consent from the holders thereof to expressly affirm that the Separation would not conflict with the terms of the debentures. In April 2010, we announced that valid consents were tendered representing over 50.0% of the outstanding debentures. Accordingly, we received the requisite approvals from debenture holders and amended the related indentures. The indentures governing these debentures, as amended, contain limited restrictions on the Company. | |||||||||
Acquisition-Related Notes | |||||||||
In March 2011, we acquired a joint venture interest in 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 payable in three equal installments of $5.0 million. The remaining note payable is for $5.0 million and is non-interest bearing and was discounted to $4.6 million as of December 31, 2014. | |||||||||
Debt Issuance Costs | |||||||||
In connection with entering into the Credit Agreement, we incurred approximately $14.0 million of debt issuance costs of which $0.5 million was recorded as interest expense in the accompanying consolidated statements of operations for the year ended December 31, 2014. We capitalized the remaining $13.5 million of debt issuance costs, within other assets in the accompanying consolidated balance sheet as of December 31, 2014, and will amortize these costs over the term of the Credit Agreement. When we entered into the Credit Agreement, 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 and we wrote-off $0.8 million of unamortized debt issuance costs during the year ended December 31, 2014. | |||||||||
Interest Rate Swaps | |||||||||
In May 2014, we entered into amortizing interest rate swap transactions ("Swaps"). The Swaps became effective on December 31, 2014 and terminate in March 2019. The Swaps are for an initial notional balance of $500.0 million, with a fixed interest rate of 1.57%, and amortize quarterly by $12.5 million through December 31, 2017 and $25.0 million through December 31, 2018, with a remaining notional amount of $250.0 million. Previous amortizing interest rate swap transactions, entered into in June 2011, were terminated with a realized loss of $4.1 million for the year ended December 31, 2014 upon full repayment of the underlying debt associated with the Terminated Credit Agreement. | |||||||||
We entered into the Swaps in order to convert a portion of our interest rate exposure on the Term Facility floating rate borrowings from variable to fixed. We have designated the Swaps as cash flow hedges. The estimated fair value of these cash flow hedges resulted in a liability of $3.8 million and $4.0 million at December 31, 2014 and 2013, respectively, which is included in the accompanying consolidated balance sheets as a component of other liabilities. | |||||||||
For the years ended December 31, 2014, 2013 and 2012, an unrealized loss of $2.4 million (net of $1.5 million in deferred taxes), an unrealized gain of $1.5 million (net of $0.9 million in deferred taxes) and an unrealized loss of $0.9 million (net of $0.6 million in deferred taxes), respectively, were recognized in other comprehensive loss related to these Swaps. | |||||||||
The aggregate annual maturities for long-term debt are as follows: | |||||||||
(in thousands) | |||||||||
Year ending December 31, | |||||||||
2015 | $ | 11,352 | |||||||
2016 | 80,080 | ||||||||
2017 | 117,386 | ||||||||
2018 | 127,601 | ||||||||
2019 | 541,875 | ||||||||
Thereafter | 452,645 | ||||||||
Total (1) | $ | 1,330,939 | |||||||
-1 | Includes the acquisition related remaining note payable of $5.0 million, which is non-interest bearing and discounted to $4.6 million as of December 31, 2014. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||
Income Taxes | Income Taxes | ||||||||||||||||||||
Income before income taxes from continuing operations is as follows for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | ||||||||||||||||
United States | $ | 86,195 | $ | 22,988 | $ | 94,744 | $ | 43,022 | $ | 125,644 | $ | 56,928 | |||||||||
Foreign | 19,196 | — | 11,881 | 795 | (2,074 | ) | 1,153 | ||||||||||||||
Total | $ | 105,391 | $ | 22,988 | $ | 106,625 | $ | 43,817 | $ | 123,570 | $ | 58,081 | |||||||||
For the years ended December 31, 2014, 2013 and 2012, income on continuing operations attributable to Corelogic includes income of certain incorporated noncontrolling interests. | |||||||||||||||||||||
Provision for Income Taxes | |||||||||||||||||||||
The provision for taxes consists of the following for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||
Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | ||||||||||||||||
Current: | |||||||||||||||||||||
Federal | $ | 186 | $ | 7,603 | $ | 19,294 | $ | 14,083 | $ | 23,574 | $ | 18,929 | |||||||||
State | 2,137 | 1,265 | (1,596 | ) | 2,151 | 5,389 | 2,846 | ||||||||||||||
Foreign | 3,249 | — | 2,006 | 222 | (3,358 | ) | 323 | ||||||||||||||
5,572 | 8,868 | 19,704 | 16,456 | 25,605 | 22,098 | ||||||||||||||||
Deferred: | |||||||||||||||||||||
Federal | 26,769 | — | 14,568 | — | 25,530 | — | |||||||||||||||
State | 1,299 | — | (273 | ) | — | 2,658 | — | ||||||||||||||
Foreign | (3,870 | ) | — | (326 | ) | — | 9,695 | — | |||||||||||||
24,198 | — | 13,969 | — | 37,883 | — | ||||||||||||||||
Total income tax provision | $ | 29,770 | $ | 8,868 | $ | 33,673 | $ | 16,456 | $ | 63,488 | $ | 22,098 | |||||||||
A reconciliation of the provision for taxes based on the federal statutory income tax rate on income from continuing operations to our effective income tax rate is as follows for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||
Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | ||||||||||||||||
Federal statutory income tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | |||||||||
State taxes, net of federal benefit | 6.2 | 3.6 | 4 | 3.2 | 6.1 | 3.2 | |||||||||||||||
Foreign taxes (less than) in excess of federal rate | (5.6 | ) | — | 1 | (0.6 | ) | 5 | (0.1 | ) | ||||||||||||
Non-deductible expenses, including Separation-related | 1.7 | — | 4.9 | — | 0.3 | — | |||||||||||||||
Gain on disposition of subsidiary | — | — | — | — | — | — | |||||||||||||||
Change from investee to subsidiary | — | — | (2.3 | ) | — | — | — | ||||||||||||||
Change in uncertain tax positions | 1.3 | — | 2.7 | — | 0.1 | — | |||||||||||||||
Research and development credits | (7.9 | ) | — | (10.2 | ) | — | — | — | |||||||||||||
Other items, net | (2.5 | ) | — | (3.5 | ) | — | 4.9 | — | |||||||||||||
Effective income tax rate | 28.2 | % | 38.6 | % | 31.6 | % | 37.6 | % | 51.4 | % | 38.1 | % | |||||||||
During the year ended December 31, 2014, we recorded income tax benefits of $8.4 million related to domestic research and development credits related to tax years 2013 and 2014. | |||||||||||||||||||||
As of December 31, 2014, we had an estimated $13.2 million of undistributed earnings from foreign subsidiaries that are intended to be indefinitely reinvested in foreign operations. No incremental U.S. tax has been provided for these earnings. If in the future these earnings are repatriated to the U.S., or if we determine that the earnings will be remitted in the foreseeable future, additional tax provisions may be required. It is not practicable to calculate the deferred taxes associated with those earnings because of the variability of multiple factors that would need to be assessed at the time of assumed repatriation; however, foreign tax credits may be available to reduce federal income taxes in the event of distribution. | |||||||||||||||||||||
Deferred Tax Assets and Liabilities | |||||||||||||||||||||
Deferred income taxes arise from temporary differences between financial reporting and tax reporting bases of assets and liabilities, and operating loss and tax credit carryforwards for tax purposes. The components of the deferred income tax assets and liabilities as of December 31, 2014 and 2013 are as follows: | |||||||||||||||||||||
(in thousands) | 2014 | 2013 | |||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||
Net losses and credit carryforwards | $ | 98,633 | $ | 41,582 | |||||||||||||||||
Deferred revenue | 137,090 | 115,850 | |||||||||||||||||||
Bad debt reserves | 2,962 | 5,205 | |||||||||||||||||||
Employee benefits | 47,414 | 48,646 | |||||||||||||||||||
Accrued expenses and loss reserves | 29,791 | 29,976 | |||||||||||||||||||
Other | (989 | ) | 324 | ||||||||||||||||||
Less: valuation allowance | (21,912 | ) | (24,173 | ) | |||||||||||||||||
$ | 292,989 | $ | 217,410 | ||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||
Depreciable and amortizable assets | 247,458 | 190,905 | |||||||||||||||||||
Investment in affiliates | 19,169 | 16,985 | |||||||||||||||||||
$ | 266,627 | $ | 207,890 | ||||||||||||||||||
Net deferred tax asset | $ | 26,362 | $ | 9,520 | |||||||||||||||||
As of December 31, 2014 and 2013, we had federal net operating losses (“NOLS”) of $195.5 million and $55.0 million, respectively, which begin to expire in 2021. The state NOLS were $289.4 million and $94.8 million as December 31, 2014 and 2013, respectively, which begin to expire in 2015. The foreign NOLS were $15.3 million and $25.4 million as of December 31, 2014 and 2013, respectively, of which approximately $2.2 million have an indefinite expiration and the remainder begin to expire in 2015. The increase in the federal and state NOLS was primarily due to the acquisition of MSB/DataQuick. As of December 31, 2014 we had available federal capital losses of $19.4 million expiring in 2017. As of December 31, 2014 we had available state capital losses of $87.2 million expiring at various times beginning in 2015. The change of ownership provisions of the Tax Reform Act of 1986 may limit utilization of a portion of our domestic NOL and tax credit carryforwards to future periods. Further, a portion of the carryforwards may expire before being applied to reduce future income tax liabilities. | |||||||||||||||||||||
As of December 31, 2014 and 2013, we had valuation allowances of approximately $21.9 million and $24.2 million, respectively, against certain U.S. and foreign deferred tax assets to reflect the deferred tax asset at the net amount that is more likely than not to be realized. The decrease in the valuation allowance recorded of approximately $2.3 million is primarily an offset to foreign deferred tax assets, which we believe is more likely than not that future taxable income will be sufficient to realize. | |||||||||||||||||||||
Unrecognized Tax Benefits | |||||||||||||||||||||
A reconciliation of the unrecognized tax benefits for the years ended December 31, 2014, 2013 and 2012 are as follows: | |||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||
Unrecognized tax benefits - opening balance | $ | 55,325 | $ | 52,654 | $ | 19,302 | |||||||||||||||
Gross increases - tax positions in prior period | 2,950 | — | 33,787 | ||||||||||||||||||
Gross decreases - tax positions in prior period | (22,698 | ) | — | (21 | ) | ||||||||||||||||
Gross increases - current-period tax positions | 651 | 2,671 | — | ||||||||||||||||||
Settlements with taxing authorities | (565 | ) | — | (163 | ) | ||||||||||||||||
Expiration of the statute of limitations for the assessment of taxes | — | — | (251 | ) | |||||||||||||||||
Unrecognized tax benefits - ending balance | $ | 35,663 | $ | 55,325 | $ | 52,654 | |||||||||||||||
Included in the December 31, 2014 and 2013 balances are $12.7 million and $11.2 million, respectively, of unrecognized tax benefits that, if recognized, would have an impact on the effective tax rate. The remaining $21.5 million and $44.1 million for the years ended December 31, 2014 and 2013, respectively, would be offset against FAFC receivable pursuant to the Tax Sharing Agreement entered in connection with the Separation. In addition, our reserves increased by $1.9 million due to our acquisition of MSB/DataQuick, which were presented as a reduction to deferred tax assets for net operating loss carry forwards. | |||||||||||||||||||||
We recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2014 and 2013, we had $16.0 million and $9.1 million, respectively, accrued for the payment of interest and penalties. These balances are gross amounts before any tax benefits and are included in other liabilities in the accompanying consolidated balance sheets. For the years ended December 31, 2014, 2013 and 2012, we recognized approximately $0.6 million, $0.8 million and $0.6 million, respectively in interest and penalties, in the accompanying consolidated statements of income. Our material tax jurisdiction is the U.S. With a few minor exceptions, we are no longer subject to U.S. federal, state, local, or foreign income tax examinations by tax authorities for years prior to December 31, 2006. Our income tax returns, in several jurisdictions, are being examined by various tax authorities. Management believes that adequate amounts of tax and related interest and penalties, if any, have been provided for any adjustments that may result from these examinations. | |||||||||||||||||||||
During the year ended December 31, 2014, we effectively settled our 2007-2010 Internal Revenue Service ("IRS") exam, which resulted in a reversal of approximately $0.3 million in unrecognized tax benefits. The decrease in our reserves for uncertain tax positions relates primarily to the settlement of the claim, on our behalf by FAFC, for an uncertain tax position on a prior year tax return. The claim is for FAFC losses reported and is subject to indemnification from FAFC under the Tax Sharing Agreement. As of December 31, 2014, the liability was reduced by approximately $29.6 million of which the impact to net income was zero. | |||||||||||||||||||||
We are currently under examination for the tax years 2005 through 2011 by the U.S. and various taxing authorities. It is reasonably possible the amount of the unrecognized benefit with respect to certain unrecognized positions could significantly increase or decrease within the next twelve months. We estimate that unrecognized tax benefits could decrease by up to $21.6 million within the next twelve months. The estimated change is primarily related to IRS audits, subject to the FAFC indemnification, and will have no impact to net income. |
EarningsLoss_Per_Share
Earnings/(Loss) Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Earnings/(Loss) Per Share | Earnings/(Loss) Per Share | |||||||||||
The following is a reconciliation of net income per share attributable to CoreLogic for the years ended December 31, 2014, 2013 and 2012, using the treasury-stock method: | ||||||||||||
(in thousands, except per share amounts) | 2014 | 2013 | 2012 | |||||||||
Numerator for basic and diluted net income/(loss) per share: | ||||||||||||
Income from continuing operations, net of tax | $ | 89,741 | $ | 100,313 | $ | 96,065 | ||||||
(Loss)/income from discontinued operations, net of tax | (16,653 | ) | 14,423 | 12,387 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | 112 | (7,008 | ) | 3,841 | ||||||||
Net income attributable to CoreLogic | $ | 73,200 | $ | 107,728 | $ | 112,293 | ||||||
Denominator: | ||||||||||||
Weighted-average shares for basic income/(loss) per share | 90,825 | 95,088 | 102,913 | |||||||||
Dilutive effect of stock options and restricted stock units | 1,604 | 2,021 | 1,137 | |||||||||
Weighted-average shares for diluted income/(loss) per share | 92,429 | 97,109 | 104,050 | |||||||||
Income/(loss) per share | ||||||||||||
Basic: | ||||||||||||
Income from continuing operations, net of tax | $ | 0.99 | $ | 1.05 | $ | 0.93 | ||||||
(Loss)/income from discontinued operations, net of tax | (0.18 | ) | 0.15 | 0.12 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | — | (0.07 | ) | 0.04 | ||||||||
Net income attributable to CoreLogic | $ | 0.81 | $ | 1.13 | $ | 1.09 | ||||||
Diluted: | ||||||||||||
Income from continuing operations, net of tax | $ | 0.97 | $ | 1.03 | $ | 0.92 | ||||||
(Loss)/income from discontinued operations, net of tax | (0.18 | ) | 0.15 | 0.12 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | — | (0.07 | ) | 0.04 | ||||||||
Net income attributable to CoreLogic | $ | 0.79 | $ | 1.11 | $ | 1.08 | ||||||
For the year ended December 31, 2014, 2013 and 2012, RSUs, PBRSUs and stock options of 0.3 million, 0.4 million and 2.6 million, respectively, were excluded from the weighted average diluted common shares outstanding due to their antidilutive effect. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||
Employee Benefit Plans | Employee Benefit Plans | |||||||||||
We currently offer a variety of employee benefit plans, including a 401(k) savings plan and non-qualified plans, including our frozen unfunded supplemental management and executive benefit plans (collectively, the “SERPs”), a frozen pension restoration plan (“Restoration”) and a deferred compensation plan. | ||||||||||||
The non-qualified plans are exempt from most provisions of the Employee Retirement Income Security Act because they are only available to a select group of management and highly compensated employees and are therefore not qualified employee benefit plans. To preserve the tax-deferred savings advantages of a non-qualified plan, federal law requires that it be an unfunded or informally funded future promise to pay. | ||||||||||||
As part of our acquisition of CDS Mapping in December 2012, we recorded a liability related to the pension obligation and an asset related to the fair value of plan assets. The CDS Mapping plan was terminated, effective December 31, 2012. Refer below for details of the amounts recorded. In addition refer to Note 16 - Acquisitions, for further details of the CDS Mapping acquisition. | ||||||||||||
The following table summarizes the balance sheet impact, including benefit obligations, assets and funded status associated with the SERPs and Restoration plan as of December 31, 2014 and 2013: | ||||||||||||
(in thousands) | 2014 | 2013 | ||||||||||
Change in projected benefit obligation: | ||||||||||||
Benefit obligation at beginning of period | $ | 27,059 | $ | 34,102 | ||||||||
Service costs | 282 | 637 | ||||||||||
Interest costs | 1,233 | 1,293 | ||||||||||
Actuarial losses/(gains) | 5,564 | (5,826 | ) | |||||||||
Benefits paid | (1,879 | ) | (3,147 | ) | ||||||||
Projected benefit obligation at end of period | $ | 32,259 | $ | 27,059 | ||||||||
Change in plan assets: | ||||||||||||
Plan assets at fair value at beginning of period | $ | — | $ | 1,432 | ||||||||
Actual return on plan assets | — | (53 | ) | |||||||||
Company contributions | 1,879 | 1,770 | ||||||||||
Benefits paid | (1,879 | ) | (3,149 | ) | ||||||||
Plan assets at fair value at end of the period | — | — | ||||||||||
Reconciliation of funded status: | ||||||||||||
Unfunded status of the plans | $ | (32,259 | ) | $ | (27,059 | ) | ||||||
Amounts recognized in the consolidated balance sheet consist of: | ||||||||||||
Accrued benefit liability | $ | (32,259 | ) | $ | (27,059 | ) | ||||||
Pension plan asset | $ | — | $ | — | ||||||||
$ | (32,259 | ) | $ | (27,059 | ) | |||||||
Amounts recognized in accumulated other comprehensive income/(loss): | ||||||||||||
Unrecognized net actuarial loss | $ | 13,685 | $ | 8,840 | ||||||||
Unrecognized prior service credit | (6,775 | ) | (7,920 | ) | ||||||||
$ | 6,910 | $ | 920 | |||||||||
The net periodic pension cost for the years ended December 31, 2014, 2013 and 2012, for the FAC defined benefit pension plan, SERPs, Restoration plan and CDS Mapping cash balance plan includes the following components: | ||||||||||||
(in thousands) | 2014 | 2013 | 2012 | |||||||||
Expenses: | ||||||||||||
Service costs | $ | 282 | $ | 637 | $ | 932 | ||||||
Interest costs | 1,231 | 1,293 | 1,386 | |||||||||
Expected return on plan assets | — | (57 | ) | (41 | ) | |||||||
Amortization of net (gain)/loss | (424 | ) | 179 | 80 | ||||||||
Net periodic benefit cost | $ | 1,089 | $ | 2,052 | $ | 2,357 | ||||||
Weighted-average discount rate used to determine costs for the plans were as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
SERP Plans | 4.72 | % | 3.89 | % | 4.52 | % | ||||||
Restoration Plan | 4.82 | % | 4.02 | % | 4.57 | % | ||||||
CDS Mapping | N/A | N/A | 4 | % | ||||||||
Weighted-average actuarial assumptions used to determine benefit obligations for the plans were as follows: | ||||||||||||
2014 | 2013 | |||||||||||
SERP Plans | ||||||||||||
Discount rate | 3.85 | % | 4.72 | % | ||||||||
Salary increase rate | N/A | N/A | ||||||||||
Restoration Plan | ||||||||||||
Discount rate | 3.98 | % | 4.82 | % | ||||||||
CDS Mapping | ||||||||||||
Discount rate | N/A | N/A | ||||||||||
Salary increase rate | N/A | N/A | ||||||||||
The discount-rate assumption used for pension plan accounting reflects the yield available on high-quality, fixed-income debt securities that match the expected timing of the benefit obligation payments. | ||||||||||||
The following table provides the funded status in the defined SERPs as of December 31, 2014, 2013 and 2012: | ||||||||||||
(in thousands) | 2014 | 2013 | 2012 | |||||||||
Projected benefit obligation | $ | 32,259 | $ | 27,059 | $ | 34,102 | ||||||
Accumulated benefit obligation | $ | 32,259 | $ | 27,059 | $ | 34,102 | ||||||
Plan assets at fair value at end of year | $ | — | $ | — | $ | — | ||||||
The following benefit payments for all plans, which reflect expected future turnover, as appropriate, are expected to be paid as follows: | ||||||||||||
(in thousands) | ||||||||||||
2015 | $ | 1,955 | ||||||||||
2016 | 1,414 | |||||||||||
2017 | 1,397 | |||||||||||
2018 | 1,379 | |||||||||||
2019 | 1,361 | |||||||||||
2020-2024 | 8,358 | |||||||||||
$ | 15,864 | |||||||||||
The Corelogic, Inc. 401(k) Savings Plan (the "Savings Plan") allows for employee-elective contributions up to the maximum deductible amount as determined by the Internal Revenue Code. We make discretionary matching contributions to the Savings Plan based on participant contributions as well as discretionary contributions based on profitability. The expense within continuing operations for the years ended December 31, 2014, 2013 and 2012 related to the Savings Plan were $5.7 million, $7.6 million and $6.0 million, respectively. The Savings Plan allows the participants to purchase shares of our common stock as one of the investment options, subject to certain limitations. The Savings Plan held 866,559 and 951,704 shares of our common stock, representing 1.0% of the total shares outstanding at December 31, 2014 and 2013. | ||||||||||||
We have a deferred compensation plan that allows participants to defer up to 80% of their salary, commissions and bonus. Participants allocate their deferrals among a variety of investment crediting options (known as “deemed investments”). Deemed investments mean that the participant has no ownership interest in the funds they select; the funds are only used to measure the gains or losses that will be attributed to their deferral account over time. Participants can elect to have their deferral balance paid out in a future year while they are still employed or after their employment ends. The participants’ deferrals and any earnings on those deferrals are general unsecured obligations of the Company. The Company is informally funding the deferred compensation plan through a tax-advantaged investment known as variable universal life insurance. Deferred compensation plan assets are held as a Company asset within a special trust, called a “rabbi trust.” | ||||||||||||
The value of the assets underlying our deferred compensation plan was $30.3 million and $30.5 million as of December 31, 2014 and 2013, respectively, and is included in other assets in the consolidated balance sheets. The unfunded liability for our deferred compensation plan was $34.2 million and $34.3 million as of December 31, 2014 and 2013, respectively, and is included in other liabilities in the accompanying consolidated balance sheets. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | |||||||||||||||||||
Dec. 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 and debt 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 and foreign currency purchase agreements | ||||||||||||||||||||
The fair value of the interest rate swap agreements and forward currency purchase 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 December 31, 2014 are presented in the following table: | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 104,677 | $ | — | $ | — | $ | 104,677 | ||||||||||||
Restricted cash | — | 12,360 | — | 12,360 | ||||||||||||||||
Equity securities | 22,264 | — | — | 22,264 | ||||||||||||||||
Total Financial Assets | $ | 126,941 | $ | 12,360 | $ | — | $ | 139,301 | ||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Total debt | $ | — | $ | 1,323,201 | $ | — | $ | 1,323,201 | ||||||||||||
Total Financial Liabilities | $ | — | $ | 1,323,201 | $ | — | $ | 1,323,201 | ||||||||||||
Derivatives: | ||||||||||||||||||||
Liability for interest rate swap agreements | $ | — | $ | 3,781 | $ | — | $ | 3,781 | ||||||||||||
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 | Level 3 | Fair Value | ||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 134,419 | $ | — | $ | — | $ | 134,419 | ||||||||||||
Restricted cash | — | 12,050 | — | 12,050 | ||||||||||||||||
Equity securities | 22,220 | — | — | 22,220 | ||||||||||||||||
Total Financial Assets | $ | 156,639 | $ | 12,050 | $ | — | $ | 168,689 | ||||||||||||
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 and for the year ended December 31, 2014: | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Impairment Losses | |||||||||||||||||
Property and equipment, net | $ | — | $ | — | $ | — | $ | — | $ | 1,070 | ||||||||||
Goodwill, net | — | — | — | — | 3,900 | |||||||||||||||
Investment in affiliates, net | — | — | — | — | 360 | |||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | 5,330 | |||||||||||
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of and for the year ended December 31, 2013: | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Impairment Losses | |||||||||||||||||
Assets of discontinued operations | $ | 19,961 | $ | — | $ | — | $ | 19,961 | $ | 9,614 | ||||||||||
Property and equipment, net | — | — | — | — | 1,969 | |||||||||||||||
Goodwill, net | 77,616 | — | — | 77,616 | 42,216 | |||||||||||||||
Other intangible assets, net | — | — | — | — | 248 | |||||||||||||||
$ | 97,577 | $ | — | $ | — | $ | 97,577 | $ | 54,047 | |||||||||||
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of and for the year ended December 31, 2012: | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Impairment Losses | |||||||||||||||||
Assets of discontinued operations | $ | — | $ | — | $ | — | $ | — | $ | 18,741 | ||||||||||
Property and equipment, net | — | — | — | — | 19,880 | |||||||||||||||
Investment in affiliates, net | — | — | — | — | 1,246 | |||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | 39,867 | |||||||||||
We recorded non-cash impairment charges of $9.6 million and $18.7 million for the years ended December 31, 2013 and 2012, respectively, in our assets of discontinued operations primarily due to the disposition or wind down of our discontinued operations. See Note 18 - Discontinued Operations for further discussion. We recorded non-cash impairment charges of $1.1 million, $2.0 million and $19.9 million for the years ended December 31, 2014, 2013 and 2012, respectively, in our property and equipment, net primarily due to land and internally developed software. Further, we recorded non-cash impairment charges of $3.9 million and $42.2 million for the years ended December 31, 2014 and 2013, respectively, in our goodwill, net related to our technology solutions, solutions express and outsourcing services product lines. See Note 6 - Goodwill, Net for further discussion. In addition, we recorded a non-cash impairment charge of $0.2 million for the year ended December 31, 2013 in our other intangible assets, net related to client lists. Finally, we recorded non-cash impairment charges of $0.4 million and $1.2 million for the years ended December 31, 2014 and 2012, respectively, 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 investments. These non-cash impairment charges relate to investments for which there is no material income/loss included in equity in earnings of affiliates, net of tax. Therefore, they are included in gain on investments and other, net in the accompanying consolidated statements of operations. |
ShareBased_Compensation_Plans
Share-Based Compensation Plans | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||
Stock-Based Compensation | Share-Based Compensation Plans | ||||||||||||
We 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 and amended on July 29, 2014. The amended Plan permits the grant of RSUs, PBRSUs and stock options. Prior to the approval of the Plan, we issued share-based awards under the CoreLogic, Inc. 2006 Incentive Plan (the “2006 Plan”). The amended Plan was adopted, in part, to make an aggregate of 21,930,000 shares of the Company's common stock available for award grants, so that the Company will have sufficient authority and flexibility to adequately provide for future incentives. | |||||||||||||
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 the vesting period. | |||||||||||||
Restricted Stock Units | |||||||||||||
For the years ended December 31, 2014, 2013 and 2012, we awarded 807,890, 788,680 and 780,682 RSUs, respectively, with an estimated value of $24.7 million, $20.8 million and $13.6 million, respectively. The RSU awards will vest ratably over 3 years. RSU activity for the year ended December 31, 2014 is as follows: | |||||||||||||
(in thousands, except weighted average fair value prices) | Number of Shares | Weighted Average Grant-Date Fair Value | |||||||||||
Unvested RSUs outstanding at December 31, 2013 | 1,466 | $ | 22.13 | ||||||||||
RSUs granted | 808 | $ | 30.62 | ||||||||||
RSUs vested | (697 | ) | $ | 20.89 | |||||||||
RSUs forfeited | (197 | ) | $ | 26.02 | |||||||||
Unvested RSUs outstanding at December 31, 2014 | 1,380 | $ | 27.17 | ||||||||||
As of December 31, 2014, there was $19.7 million of total unrecognized compensation cost related to unvested RSUs that is expected to be recognized over a weighted-average period of 1.9 years. The fair value of RSUs is based on the market value of the Company’s shares on the date of grant. | |||||||||||||
Performance-Based Restricted Stock Units | |||||||||||||
For the years ended December 31, 2014, 2013 and 2012, we awarded 367,558, 410,497 and 347,572 PBRSUs, respectively, with an estimated value of $11.6 million, $10.7 million and $5.6 million, respectively. These awards could be subject to service-based, performance-based and market-based vesting. The performance period for the PBRSUs awarded during 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 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 2014 and 2013 awards were estimated using Monte-Carlo simulation with the following weighted-average assumptions: | |||||||||||||
2014 | 2013 | ||||||||||||
Expected dividend yield | — | % | — | % | |||||||||
Risk-free interest rate (1) | 0.74 | % | 0.41 | % | |||||||||
Expected volatility (2) | 27.88 | % | 29.87 | % | |||||||||
Average total shareholder return (2) | (0.90 | )% | 17.87 | % | |||||||||
-1 | The risk-free interest rate for the periods within the contractual term of the PBRSUs 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. | ||||||||||||
The performance period for the PBRSUs awarded during 2012 was from January 1, 2012 to December 31, 2012 and the performance metric was adjusted earnings per share. Based on achievement of the performance criteria, the 2012 awards were earned at 150% of target and will vest subject to continuation of employment until December 31, 2014. The fair value of the 2012 awards were based on the market value of the Company's common stock on the date of grant. | |||||||||||||
PBRSU activity for the year ended December 31, 2014 is as follows: | |||||||||||||
(in thousands, except weighted average fair value prices) | Number of Shares | Weighted Average Grant-Date Fair Value | |||||||||||
Unvested PBRSUs outstanding at December 31, 2013 | 1,247 | $ | 18.52 | ||||||||||
PBRSUs granted | 368 | $ | 31.46 | ||||||||||
PBRSUs vested | (612 | ) | $ | 16.92 | |||||||||
PBRSUs forfeited | (99 | ) | $ | 23.52 | |||||||||
Unvested PBRSUs outstanding at December 31, 2014 | 904 | $ | 22.19 | ||||||||||
As of December 31, 2014, there was $1.1 million of total unrecognized compensation cost related to unvested PBRSUs that is expected to be recognized over a weighted-average period of 1.3 years. The fair value of PBRSUs is based on the market value of the Company’s shares 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 3 equal annual installments on the first, second and third anniversaries of grant and expire 10 years after the grant date. The fair values of these stock options were estimated using a Black-Scholes model with the following weighted-average assumptions: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected dividend yield | — | % | — | % | — | % | |||||||
Risk-free interest rate (1) | 1.74 | % | 0.9 | % | 1 | % | |||||||
Expected volatility (2) | 37.92 | % | 41.65 | % | 42.81 | % | |||||||
Expected life (3) | 5.5 | 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 years ended December 31, 2014, 2013 and 2012 we awarded 290,737, 445,705 and 581,265 options, respectively, with an estimated value of $9.1 million, $11.7 million and $9.3 million, respectively. Option activity for the year ended December 31, 2014 is as follows: | |||||||||||||
(in thousands, except weighted average prices) | Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value | |||||||||
Options outstanding at December 31, 2013 | 2,663 | $ | 21.12 | ||||||||||
Options granted | 291 | $ | 31.46 | ||||||||||
Options exercised | (303 | ) | $ | 19.77 | |||||||||
Options canceled | (88 | ) | $ | 25.02 | |||||||||
Options outstanding at December 31, 2014 | 2,563 | $ | 22.32 | 4.9 | $ | 23,903 | |||||||
Options vested and expected to vest at December 31, 2014 | 2,539 | $ | 22.26 | 4.9 | $ | 23,834 | |||||||
Options exercisable at December 31, 2014 | 1,953 | $ | 21.18 | 3.9 | $ | 20,344 | |||||||
As of December 31, 2014, there was $3.5 million of total unrecognized compensation cost related to unvested stock options that is expected to be recognized over a weighted-average period of 1.8 years. | |||||||||||||
The intrinsic value of options exercised was $3.5 million, $13.8 million and $3.7 million for the years ended December 31, 2014, 2013 and 2012, 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 estimated fair value of the discount during the last offering period. | |||||||||||||
The following table sets forth the share-based compensation expense recognized for the years ended December 31, 2014, 2013 and 2012. | |||||||||||||
(in thousands) | 2014 | 2013 | 2012 | ||||||||||
Restricted stock units | $ | 19,078 | $ | 12,754 | $ | 9,988 | |||||||
Performance-based restricted stock units | 1,750 | 9,746 | 7,050 | ||||||||||
Stock options | 3,730 | 3,982 | 3,664 | ||||||||||
Employee stock purchase plan | 1,030 | 557 | 107 | ||||||||||
$ | 25,588 | $ | 27,039 | $ | 20,809 | ||||||||
The above share-based compensation expense has $1.7 million, $1.0 million and $2.6 million included within cost of services for the years ended December 31, 2014, 2013 and 2012, respectively. It also includes $0.2 million, $0.1 million and $0.2 million of share-based compensation expense for the years ended December 31, 2014, 2013 and 2012, respectively, reported within (loss)/income from discontinued operations, net of tax. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Commitments and Contingencies | Commitments and Contingencies | |||
Lease Commitments | ||||
We lease certain office facilities, automobiles and equipment under operating leases, which, for the most part, are renewable. The majority of these leases also provide that the Company will pay insurance and taxes. | ||||
Future minimum rental payments under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of December 31, 2014 are as follows: | ||||
(in thousands) | ||||
2015 | $ | 32,280 | ||
2016 | 27,795 | |||
2017 | 16,654 | |||
2018 | 12,814 | |||
2019 | 10,910 | |||
Thereafter | 13,483 | |||
$ | 113,936 | |||
Total rental expenses for all operating leases and month-to-month rentals were $35.6 million, $39.8 million, $42.4 million for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||
Operational Commitments | ||||
In August 2011, an affiliate of Cognizant Technology Solutions Corporation ("Cognizant"), acquired CoreLogic India Global Services Private Limited, our India-based captive operations ("CoreLogic India"). The purchase price for CoreLogic India was $50.0 million in cash before working capital adjustments. As part of the transaction, we entered into a Master Professional Services Agreement ("Services Agreement") and supplement ("Supplement") with Cognizant under which Cognizant will provide a range of business process and information technology services to us. The Supplement has an initial term of seven years and we have the unilateral right to extend the term for up to three one-year periods. During the first five years of the agreement, we are subject to a net total minimum commitment of approximately $303.5 million, plus applicable inflation adjustments. In connection with the sale, we recorded $27.1 million of deferred gain on sale which is being recognized to income over the commitment period of five years. As of December 31, 2014, the remaining minimum commitment totaled $93.5 million. |
Litigation_and_Regulatory_Cont
Litigation and Regulatory Contingencies | 12 Months Ended |
Dec. 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. The ability to predict the ultimate outcome of such matters involves judgments, estimates and inherent uncertainties. The actual outcome of such matters could differ materially from management’s estimates. We record expenses for legal fees as incurred. | |
Federal Deposit Insurance Corporation | |
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 was reduced to 146 and the amount of the FDIC's purported losses was reduced to at least $98.9 million. On May 28, 2014 the parties settled the case with the defendants agreeing to pay a total of $12.0 million; which was recorded within loss from discontinued operations, net of tax for the three months ended June 30, 2014. Following payment of the settlement amount on July 2, 2014, the case was dismissed with prejudice on July 7, 2014. | |
Real Estate Settlement Procedures Act 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. Following discovery, on July 1, 2014 the defendant filed motions for summary judgment and to decertify the class. On September 16, 2014 the trial court granted summary judgment against one named plaintiff but denied it as to the other, denied the motion to decertify the class, and bifurcated trial into two phases with the first phase to begin November 24, 2014. The parties thereafter conducted a court-ordered mediation and subsequently reached agreement, subject to court approval, to settle the case for a total of $9.9 million inclusive of attorney fees. This amount has been reserved and recorded within loss from discontinued operations, net of tax for the year ended December 31, 2014. | |
On December 12, 2014 the court preliminarily approved the settlement. Notice to the class is underway and the final fairness hearing is set for April 24, 2015. | |
Separation | |
Following the spin off of our financial services businesses into a new, publicly-traded, New York Stock Exchange-listed company called FAFC in June 2010, we became 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. At December 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 FAC's 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_Note
Acquisitions Acquisitions (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Business Combinations [Abstract] | ||||||||
Business Combination Disclosure [Text Block] | Acquisitions | |||||||
In November 2014, we completed our acquisition of Bank of America's mortgage-related credit reporting operation for approximately $19.6 million, which is included as a component of our TPS 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. The purchase price allocation is subject to change based on our final determination of fair value in connection with certain tax and working capital matters. We preliminarily recorded property and equipment of $4.3 million with an estimated average life of 3 years, client lists of $6.1 million with an estimated average life of 10 years and goodwill of $9.2 million, which is fully deductible for tax purposes. The business combination did not have a material impact on our consolidated financial statements. | ||||||||
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 $652.5 million in cash, which was funded through borrowings. The acquisition of MSB/DataQuick significantly expands our footprint in property and casualty insurance and adds 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 in connection with certain tax and working capital matters. The preliminary allocation of the purchase price is as follows: | ||||||||
(in thousands) | ||||||||
Cash and cash equivalents | $ | 36 | ||||||
Accounts receivable | 9,227 | |||||||
Prepaid expenses and other current assets | 2,190 | |||||||
Deferred income tax assets, current | 6,658 | |||||||
Property and equipment | 177,311 | |||||||
Goodwill (1) | 307,773 | |||||||
Other intangible assets | 129,400 | |||||||
Deferred income tax, net of current | 29,760 | |||||||
Investment in affiliates | 18,300 | |||||||
Total assets acquired | $ | 680,655 | ||||||
Accounts payable and accrued expenses | 3,911 | |||||||
Income taxes payable | 31 | |||||||
Deferred revenue, current | 22,371 | |||||||
Deferred revenue, net of current | 1,823 | |||||||
Net assets acquired | $ | 652,519 | ||||||
-1 | Goodwill of $307.8 million includes $167.8 million of deductible basis for tax purposes. Goodwill was reduced by approximately $55.5 million from the initial amount recorded in the first quarter of 2014, as a result of a change in the purchase price allocation for certain working capital and tax adjustments. | |||||||
We reported revenues and net loss of approximately $67.5 million and $5.8 million, respectively, from the MSB/DataQuick acquisition from the acquisition date of March 25, 2014 through December 31, 2014. The net loss includes $18.6 million of depreciation and amortization from acquired property and equipment and other intangible assets. 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 January 1, 2013. 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 unaudited pro forma financial information for the years ended December 31, 2014 and 2013 combines our results of operations for the periods presented. | ||||||||
(in thousands) | 2014 | 2013 | ||||||
Net revenues | $ | 1,427,424 | $ | 1,506,660 | ||||
Net income | $ | 82,724 | $ | 103,997 | ||||
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 property and equipment of $2.1 million with an estimated average life of 5 years, client lists of $1.4 million with an estimated average life of 15 years, trade names of $0.2 million with an estimated average life of 12 years, capitalized data and database costs of $6.0 million with an estimated average life of 15 years and goodwill of $2.3 million, which is fully deductible for tax purposes. 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, 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 $3.9 million of client lists with an estimated average life of 10 years, $0.6 million of tradenames with an estimated average life of 10 years and goodwill of $16.9 million. The business combination did not have a material impact on our consolidated financial statements. | ||||||||
In September 2013, we acquired an additional 10% interest in PIQ for NZD$3.3 million or $2.6 million, resulting in a 60% controlling interest. We previously held a noncontrolling interest in the entity and as a result of the purchase of the controlling interest, we recognized a gain of approximately $6.6 million, to reflect our existing ownership interest at fair value, which is included in gain on investments and other, net in the accompanying consolidated statements of operations. PIQ 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 $1.1 million of property and equipment with an estimated average life of 5 years, $9.0 million of capitalized data and database costs with an average estimated life of 15 years, $3.5 million of client lists with an estimated average life of 15 years, $0.7 million of tradenames with an estimated average life of 10 years and goodwill of $14.9 million. The business combination did not have a material impact on our consolidated financial statements. | ||||||||
In July 2013, we completed our acquisition of Bank of America's flood zone determination and tax processing services operations for $62.5 million, which is included as a component of the 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 unobservables. We recorded $31.1 million of client lists with an estimated average life of 10 years, indefinite life capitalized data and database costs of $2.5 million and goodwill of $28.9 million, which is fully deductible for tax purposes. The business combination did not have a material impact on our consolidated financial statements. | ||||||||
In December 2012, we completed our acquisition of CDS Mapping, a digital mapping sales and consulting company, for a cash price of $78.8 million, which 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 unobservable inputs. We recorded $33.9 million of goodwill, which is fully deductible for tax purposes, $24.5 million of client lists with an estimated average life of 13 years, $4.2 million of tradenames with an estimated average life of 14 years and $2.9 million of noncompete agreements with an estimated average life of 5 years. The business combination did not have a material impact on our consolidated financial statements. | ||||||||
For the year ended December 31, 2014, we incurred $9.0 million of acquisition-related costs within selling, general and administrative expenses on our consolidated statements of operations. Acquisition related costs were not significant for the years ended December 31, 2013 and 2012. |
Redeemable_NonControlling_Inte
Redeemable NonControlling Interest Redeemable NonControlling Interest | 12 Months Ended |
Dec. 31, 2014 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interest Disclosure [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 consolidated balance sheet between liabilities and stockholders’ equity. Redeemable noncontrolling interests are reported at their estimated redemption value in each reporting period, but contractually not less than their initial fair value. Any adjustments to the redemption value impacts retained earnings. As of December 31, 2014, we recorded a $6.6 million adjustment to redeemable noncontrolling interests and retained earnings to account for changes in its estimated redemption value. | |
In September 2013, we acquired an additional 10% interest in PIQ for NZD$3.3 million, or $2.6 million, resulting in a 60% controlling interest. In connection with the acquisition, effective August 2015, 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 a redeemable noncontrolling interest in the accompanying consolidated balance sheet. For the year ended December 31, 2014, we recorded $1.3 million of net income attributable to redeemable noncontrolling interest. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||
Discontinued Operations | Discontinued Operations | ||||||||||||||||||||
On September 30, 2014, we completed the sale of our collateral solutions and field services businesses, which were previously included in our AMPS reporting segment, for total consideration of $29.1 million, subject to working capital adjustments, as well as potential earn-outs of up to $20.0 million, which will be recognized when realized. Further, we determined to cease pursuing the sale of our remaining product lines, previously included in our AMPS reporting segment. These remaining product lines included our technology solutions, solutions express and outsourcing services product lines. These product lines were previously reflected as discontinued operations and are now reflected as part of continuing operations within our TPS segment. See Note 1 - Description of the Company for further discussion. | |||||||||||||||||||||
For the year ended December 31, 2014, we recorded a $0.1 million gain on the sale of discontinued operations, net of tax, primarily related to $1.5 million of earn-out payments, net of tax, from previously disposed discontinued operations, partially offset by an after-tax loss of $1.4 million related to the sale of our collateral solutions and field services businesses. For the year ended December 31, 2013, we recorded a $7.0 million loss on the sale of discontinued operations, net of tax primarily related to estimated liabilities associated with audits of previously disposed subsidiaries. As of August 31, 2012, we completed the disposition of our transportation services business (American Driving Records) for $11.0 million, which resulted in a pre-tax gain of $3.9 million for the year ended December 31, 2012. This gain is included in gain/(loss) from sale of discontinued operations, net of tax in the accompanying consolidated statements of operations. We completed the wind down of our consumer services business and our appraisal management company business in lieu of a sale as of September 2012. In connection with the wind down of our 100% owned appraisal management company business, we incurred a pre-tax write-down of the remaining goodwill of $13.9 million in the first quarter of 2012. | |||||||||||||||||||||
Each of these businesses is reflected in our accompanying consolidated financial statements as discontinued operations and the results of these businesses in the prior years have been recast to conform to the 2014 presentation. | |||||||||||||||||||||
Summarized below are certain assets and liabilities classified as discontinued operations as of December 31, 2014, 2013 and 2012: | |||||||||||||||||||||
(in thousands) | D&A | TPS | |||||||||||||||||||
As of December 31, 2014 | Marketing | Consumer | Appraisal | AMPS | Total | ||||||||||||||||
Deferred income tax asset and other current assets | $ | 177 | $ | 149 | $ | 3,808 | $ | 133 | $ | 4,267 | |||||||||||
Total assets | $ | 177 | $ | 149 | $ | 3,808 | $ | 133 | $ | 4,267 | |||||||||||
Total liabilities | $ | 194 | $ | 88 | $ | 10,941 | $ | 2,481 | $ | 13,704 | |||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Accounts receivable | $ | — | $ | — | $ | — | $ | 14,073 | $ | 14,073 | |||||||||||
Other current assets | 177 | 149 | 200 | 2,668 | 3,194 | ||||||||||||||||
Property and equipment, net | — | — | — | 1,698 | 1,698 | ||||||||||||||||
Goodwill and other identifiable intangible assets, net | — | — | — | 19,961 | 19,961 | ||||||||||||||||
Total assets | $ | 177 | $ | 149 | $ | 200 | $ | 38,400 | $ | 38,926 | |||||||||||
Accounts payable | $ | 676 | $ | — | $ | 3,127 | $ | 7,282 | $ | 11,085 | |||||||||||
Other liabilities | 259 | 88 | 568 | 8,616 | 9,531 | ||||||||||||||||
Total liabilities | $ | 935 | $ | 88 | $ | 3,695 | $ | 15,898 | $ | 20,616 | |||||||||||
Summarized below are the components of our (loss)/income from discontinued operations, net of tax for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||||
(in thousands) | D&A | TPS | |||||||||||||||||||
For the Year Ended December 31, 2014 | Marketing | Consumer | Appraisal | AMPS | Total | ||||||||||||||||
Operating revenue | $ | — | $ | — | $ | — | $ | 94,039 | $ | 94,039 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (717 | ) | — | (30,739 | ) | 7,188 | (24,268 | ) | |||||||||||||
(Benefit)/provision for income taxes | (350 | ) | — | (11,785 | ) | 4,520 | (7,615 | ) | |||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (367 | ) | $ | — | $ | (18,954 | ) | $ | 2,668 | $ | (16,653 | ) | ||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||
Operating revenue | $ | — | $ | — | $ | — | $ | 193,117 | $ | 193,117 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (2,129 | ) | 196 | (6,194 | ) | 32,928 | 24,801 | ||||||||||||||
(Benefit)/provision for income taxes | (814 | ) | 75 | (2,369 | ) | 13,486 | 10,378 | ||||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (1,315 | ) | $ | 121 | $ | (3,825 | ) | $ | 19,442 | $ | 14,423 | |||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||
Operating revenue | $ | — | $ | 55,773 | $ | 25,138 | $ | 280,589 | $ | 361,500 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (122 | ) | 5,026 | (21,375 | ) | 42,566 | 26,095 | ||||||||||||||
Provision/(benefit) for income taxes | 4,891 | 15 | (5,186 | ) | 13,988 | 13,708 | |||||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (5,013 | ) | $ | 5,011 | $ | (16,189 | ) | $ | 28,578 | $ | 12,387 | |||||||||
Segment_Financial_Information
Segment Financial Information | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||
Segment Financial Information | Segment Financial Information | |||||||||||||||||||||||
We have organized our reportable segments into the following two segments: D&A and TPS. In September 2014, we concluded that we would cease pursuing the sale of the remaining AMPS related product lines. As a result, our technology solutions, solutions express and outsourcing services product lines are now reported within our TPS segment. Also, in September 2014, we transferred our under-banked credit services business from our D&A segment to our TPS segment. All segment reporting disclosures presented herein reflect these transfers. See Note 1 - Description of the Company for further discussion. | ||||||||||||||||||||||||
Data & Analytics. Our D&A segment owns or licenses data assets including loan information, criminal and eviction records, employment verification, property sales and characteristic information, property risk and replacement cost, and information on mortgage-backed securities. We both license our data directly to our clients and provide our clients with analytical products and workflow solutions for risk management, multiple listing services ("MLS"), 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 our data assets. Our primary clients are commercial banks, mortgage lenders and brokers, investment banks, fixed-income investors, real estate agents, MLS companies property and casualty insurance companies, title insurance companies and government agencies and sponsored enterprises. | ||||||||||||||||||||||||
Our D&A segment includes intercompany revenues of $4.3 million, $8.5 million, and $10.1 million for the years ended December 31, 2014, 2013 and 2012, respectively; and intercompany expenses of $5.6 million, $0.9 million and $1.8 million for the years ended December 31, 2014, 2013 and 2012, 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, mortgage-related business process outsourcing, technology solutions and compliance-related services. The segment’s primary clients are large, national mortgage lenders and servicers, but we also serve regional mortgage lenders and brokers, credit unions, commercial banks, government agencies and casualty insurance companies. | ||||||||||||||||||||||||
Our TPS segment includes intercompany revenues of $5.5 million, $3.3 million, and $1.2 million for the years ended December 31, 2014, 2013 and 2012, respectively; and intercompany expenses of $4.3 million, $7.8 million and $9.4 million for the years ended December 31, 2014, 2013 and 2012, 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. | ||||||||||||||||||||||||
Due to the number of clients we service and the number of products and services we offer, it is impracticable to disclose revenues from external clients for each product and service offered. | ||||||||||||||||||||||||
Selected segment financial information is as follows: | ||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
For the Year Ended December 31, 2014 | D&A | TPS | Corporate | Eliminations | Consolidated (Excluding Discontinued Operations) | |||||||||||||||||||
Operating revenue | $ | 647,264 | $ | 767,567 | $ | 30 | $ | (9,821 | ) | $ | 1,405,040 | |||||||||||||
Depreciation and amortization | $ | 98,313 | $ | 26,019 | $ | 14,062 | $ | — | $ | 138,394 | ||||||||||||||
Operating income/(loss) | $ | 97,654 | $ | 139,168 | $ | (67,064 | ) | $ | — | $ | 169,758 | |||||||||||||
Equity in earnings/(loss) of affiliates, net of tax | $ | 49 | $ | 22,900 | $ | (8,829 | ) | $ | — | $ | 14,120 | |||||||||||||
Net income/(loss) from continuing operations | $ | 98,975 | $ | 167,726 | $ | (163,728 | ) | $ | (11,965 | ) | $ | 91,008 | ||||||||||||
Capital expenditures | $ | 56,383 | $ | 8,336 | $ | 22,435 | $ | — | $ | 87,154 | ||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||||||
Operating revenue | $ | 572,169 | $ | 843,887 | $ | 631 | $ | (12,286 | ) | $ | 1,404,401 | |||||||||||||
Depreciation and amortization | $ | 74,186 | $ | 30,780 | $ | 21,366 | $ | — | $ | 126,332 | ||||||||||||||
Operating income/(loss) | $ | 100,963 | $ | 137,225 | $ | (96,046 | ) | $ | — | $ | 142,142 | |||||||||||||
Equity in earnings/(loss) of affiliates, net of tax | $ | 1,631 | $ | 41,638 | $ | (15,908 | ) | $ | — | $ | 27,361 | |||||||||||||
Net income/(loss) from continuing operations | $ | 110,143 | $ | 179,622 | $ | (189,505 | ) | $ | — | $ | 100,260 | |||||||||||||
Capital expenditures | $ | 54,085 | $ | 20,048 | $ | 32,453 | $ | — | $ | 106,586 | ||||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||||||
Operating revenue | $ | 544,753 | $ | 800,890 | $ | 640 | $ | (12,804 | ) | $ | 1,333,479 | |||||||||||||
Depreciation and amortization | $ | 69,567 | $ | 24,161 | $ | 23,515 | $ | (135 | ) | $ | 117,108 | |||||||||||||
Operating income/(loss) | $ | 96,519 | $ | 189,700 | $ | (115,952 | ) | $ | 135 | $ | 170,402 | |||||||||||||
Equity in earnings/(loss) of affiliates, net of tax | $ | 2,197 | $ | 55,570 | $ | (21,784 | ) | $ | — | $ | 35,983 | |||||||||||||
Net income/(loss) from continuing operations | $ | 99,188 | $ | 245,686 | $ | (249,589 | ) | $ | 135 | $ | 95,420 | |||||||||||||
Capital expenditures | $ | 54,147 | $ | 18,738 | $ | 10,849 | $ | — | $ | 83,734 | ||||||||||||||
(in thousands) | ||||||||||||||||||||||||
As of December 31, 2014 | D&A | TPS | Corporate | Eliminations | Consolidated (Excluding Discontinued Operations) | |||||||||||||||||||
Investment in affiliates, net | $ | 27,809 | $ | 68,547 | $ | 7,242 | $ | — | $ | 103,598 | ||||||||||||||
Long-lived assets | $ | 1,739,715 | $ | 1,161,873 | $ | 4,888,730 | $ | (4,774,581 | ) | $ | 3,015,737 | |||||||||||||
Total assets | $ | 1,886,478 | $ | 1,297,903 | $ | 5,102,328 | $ | (4,774,614 | ) | $ | 3,512,095 | |||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Investment in affiliates, net | $ | 9,460 | $ | 78,290 | $ | 7,593 | $ | — | $ | 95,343 | ||||||||||||||
Long-lived assets | $ | 1,176,994 | $ | 1,130,237 | $ | 4,232,718 | $ | (4,098,235 | ) | $ | 2,441,714 | |||||||||||||
Total assets | $ | 1,306,023 | $ | 1,257,195 | $ | 4,499,268 | $ | (4,098,281 | ) | $ | 2,964,205 | |||||||||||||
Operating revenue is attributed to countries based on location of the revenue-generating business. Operating revenue separated between domestic and foreign operations and by segment is as follows: | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Domestic | Foreign | Domestic | Foreign | Domestic | Foreign | |||||||||||||||||||
D&A | $ | 509,521 | $ | 137,743 | $ | 476,048 | $ | 96,121 | $ | 460,401 | $ | 84,352 | ||||||||||||
TPS | 764,251 | 3,316 | 838,721 | 5,166 | 794,584 | 6,306 | ||||||||||||||||||
Corporate | — | 30 | — | 631 | — | 640 | ||||||||||||||||||
Eliminations | (9,821 | ) | — | (12,286 | ) | — | (12,804 | ) | — | |||||||||||||||
Consolidated | $ | 1,263,951 | $ | 141,089 | $ | 1,302,483 | $ | 101,918 | $ | 1,242,181 | $ | 91,298 | ||||||||||||
Long-lived assets separated between domestic and foreign operations and by segment is as follows: | ||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | ||||||||||||||||||||||
Domestic | Foreign | Domestic | Foreign | |||||||||||||||||||||
D&A | $ | 1,429,305 | $ | 310,410 | $ | 856,111 | $ | 320,883 | ||||||||||||||||
TPS | 1,161,853 | 20 | 1,130,234 | 3 | ||||||||||||||||||||
Corporate | 4,142,791 | 745,939 | 3,486,778 | 745,940 | ||||||||||||||||||||
Eliminations | (4,028,642 | ) | (745,939 | ) | (3,352,295 | ) | (745,940 | ) | ||||||||||||||||
Consolidated (excluding assets for discontinued operations) | $ | 2,705,307 | $ | 310,430 | $ | 2,120,828 | $ | 320,886 | ||||||||||||||||
Guarantor_Subsidiaries
Guarantor Subsidiaries | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Guarantor Subsidiaries [Abstract] | |||||||||||||||||||||
Guarantor Subsidiaries | Guarantor Subsidiaries | ||||||||||||||||||||
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. | |||||||||||||||||||||
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 | |||||||||||
Accounts receivable | — | 189,138 | 25,206 | — | 214,344 | ||||||||||||||||
Other current assets | 55,867 | 120,531 | 5,206 | — | 181,604 | ||||||||||||||||
Property and equipment, net | 17,261 | 325,638 | 25,715 | — | 368,614 | ||||||||||||||||
Goodwill, net | — | 1,612,388 | 168,370 | — | 1,780,758 | ||||||||||||||||
Other intangible assets, net | 290 | 242,170 | 35,810 | — | 278,270 | ||||||||||||||||
Capitalized data and database cost, net | — | 254,236 | 79,029 | — | 333,265 | ||||||||||||||||
Investment in affiliates, net | — | 103,598 | — | — | 103,598 | ||||||||||||||||
Deferred income tax assets, long-term | 49,365 | — | — | (49,365 | ) | — | |||||||||||||||
Restricted cash | 11,035 | — | 1,325 | — | 12,360 | ||||||||||||||||
Investment in subsidiaries | 2,350,467 | — | — | (2,350,467 | ) | — | |||||||||||||||
Intercompany receivable | 89,780 | 158,939 | — | (248,719 | ) | — | |||||||||||||||
Other assets | 105,262 | 31,925 | 1,685 | — | 138,872 | ||||||||||||||||
Total assets | $ | 2,740,929 | $ | 3,047,296 | $ | 376,688 | $ | (2,648,551 | ) | $ | 3,516,362 | ||||||||||
Liabilities and equity: | |||||||||||||||||||||
Current liabilities | $ | 123,196 | $ | 389,170 | $ | 38,224 | $ | — | $ | 550,590 | |||||||||||
Long-term debt, net of current | 1,313,270 | 5,941 | — | — | 1,319,211 | ||||||||||||||||
Deferred revenue, net of current | — | 389,302 | 6 | — | 389,308 | ||||||||||||||||
Deferred income tax liabilities, long term | — | 91,197 | 22,147 | (49,365 | ) | 63,979 | |||||||||||||||
Intercompany payable | 158,939 | 22,325 | 67,455 | (248,719 | ) | — | |||||||||||||||
Other liabilities | 131,357 | 27,930 | 1,797 | — | 161,084 | ||||||||||||||||
Redeemable noncontrolling interest | — | — | 18,023 | — | 18,023 | ||||||||||||||||
Total CoreLogic stockholders' equity | 1,014,167 | 2,121,431 | 229,036 | (2,350,467 | ) | 1,014,167 | |||||||||||||||
Total liabilities and equity | $ | 2,740,929 | $ | 3,047,296 | $ | 376,688 | $ | (2,648,551 | ) | $ | 3,516,362 | ||||||||||
Condensed 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 | |||||||||||
Accounts receivable | — | 193,256 | 21,764 | — | 215,020 | ||||||||||||||||
Other current assets | 56,877 | 151,066 | 4,228 | (193 | ) | 211,978 | |||||||||||||||
Property and equipment, net | 20,076 | 149,848 | 27,618 | — | 197,542 | ||||||||||||||||
Goodwill, net | — | 1,306,471 | 161,819 | — | 1,468,290 | ||||||||||||||||
Other intangible assets, net | 348 | 135,326 | 40,134 | — | 175,808 | ||||||||||||||||
Capitalized data and database cost, net | — | 249,472 | 80,716 | — | 330,188 | ||||||||||||||||
Investment 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 | 2,210,416 | — | — | (2,210,416 | ) | — | |||||||||||||||
Intercompany receivable | 63,647 | 554,894 | 9,170 | (627,711 | ) | — | |||||||||||||||
Other assets | 118,709 | 41,680 | 2,104 | — | 162,493 | ||||||||||||||||
Total assets | $ | 2,643,716 | $ | 2,877,662 | $ | 379,071 | $ | (2,897,318 | ) | $ | 3,003,131 | ||||||||||
Liabilities and equity: | |||||||||||||||||||||
Current liabilities | $ | 107,340 | $ | 393,738 | $ | 33,206 | $ | (193 | ) | $ | 534,091 | ||||||||||
Long-term debt, net of current | 806,395 | 5,381 | — | — | 811,776 | ||||||||||||||||
Deferred revenue, net of current | — | 377,846 | 9 | — | 377,855 | ||||||||||||||||
Deferred income taxes liabilities, long term | — | 111,664 | 24,303 | (58,998 | ) | 76,969 | |||||||||||||||
Intercompany payable | 564,064 | — | 63,647 | (627,711 | ) | — | |||||||||||||||
Other liabilities | 121,544 | 23,050 | 3,271 | — | 147,865 | ||||||||||||||||
Redeemable noncontrolling interest | — | — | 10,202 | — | 10,202 | ||||||||||||||||
Total CoreLogic stockholders' equity | 1,044,373 | 1,965,983 | 244,433 | (2,210,416 | ) | 1,044,373 | |||||||||||||||
Total liabilities and equity | $ | 2,643,716 | $ | 2,877,662 | $ | 379,071 | $ | (2,897,318 | ) | $ | 3,003,131 | ||||||||||
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 | |||||||||||
Intercompany revenue | — | — | 637 | (637 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 686,630 | 53,696 | (25 | ) | 740,301 | |||||||||||||||
Selling, general and administrative expenses | 58,176 | 252,879 | 41,174 | (612 | ) | 351,617 | |||||||||||||||
Depreciation and amortization | 4,836 | 107,002 | 26,556 | — | 138,394 | ||||||||||||||||
Impairment loss | — | 4,970 | — | — | 4,970 | ||||||||||||||||
Operating (loss)/income | (63,012 | ) | 212,499 | 20,271 | — | 169,758 | |||||||||||||||
Total interest expense, net | (65,299 | ) | (627 | ) | (1,056 | ) | — | (66,982 | ) | ||||||||||||
Gain on investments and other, net | 5,070 | (6,278 | ) | 5,090 | — | 3,882 | |||||||||||||||
(Benefit)/Provision for income taxes | (43,448 | ) | 73,179 | 39 | — | 29,770 | |||||||||||||||
Equity in earnings of affiliates, net of tax | — | 14,120 | — | — | 14,120 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 152,993 | — | — | (152,993 | ) | — | |||||||||||||||
Net income/(loss) from continuing operations | 73,200 | 146,535 | 24,266 | (152,993 | ) | 91,008 | |||||||||||||||
Loss from discontinued operations, net of tax | — | (16,653 | ) | — | — | (16,653 | ) | ||||||||||||||
(Loss)/gain from sale of discontinued operations, net of tax | — | (1,424 | ) | 1,536 | — | 112 | |||||||||||||||
Net income/(loss) | 73,200 | 128,458 | 25,802 | (152,993 | ) | 74,467 | |||||||||||||||
Less: Net loss attributable to noncontrolling interests | — | — | 1,267 | — | 1,267 | ||||||||||||||||
Net income/(loss) attributable to CoreLogic | $ | 73,200 | $ | 128,458 | $ | 24,535 | $ | (152,993 | ) | $ | 73,200 | ||||||||||
Net income | $ | 73,200 | $ | 128,458 | $ | 25,802 | $ | (152,993 | ) | $ | 74,467 | ||||||||||
Total other comprehensive (loss)/income | (30,197 | ) | — | (26,673 | ) | 26,673 | (30,197 | ) | |||||||||||||
Less: Comprehensive loss attributable to noncontrolling interests | — | — | 1,267 | — | 1,267 | ||||||||||||||||
Comprehensive income/(loss) attributable to CoreLogic | $ | 43,003 | $ | 128,458 | $ | (2,138 | ) | $ | (126,320 | ) | $ | 43,003 | |||||||||
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 | |||||||||||
Intercompany revenue | — | — | 631 | (631 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 679,032 | 38,804 | (631 | ) | 717,205 | |||||||||||||||
Selling, general and administrative expenses | 63,205 | 276,236 | 34,848 | — | 374,289 | ||||||||||||||||
Depreciation and amortization | 3,767 | 98,670 | 23,895 | — | 126,332 | ||||||||||||||||
Impairment loss | — | 44,433 | — | — | 44,433 | ||||||||||||||||
Operating (loss)/income | (66,972 | ) | 204,744 | 4,370 | — | 142,142 | |||||||||||||||
Total interest expense, net | (45,270 | ) | (2 | ) | (2,330 | ) | — | (47,602 | ) | ||||||||||||
Gain on investments and other, net | 3,785 | 1,250 | 6,997 | — | 12,032 | ||||||||||||||||
(Benefit)/provision for income taxes | (40,392 | ) | 72,385 | 1,680 | — | 33,673 | |||||||||||||||
Equity in earnings of affiliates, net of tax | — | 26,566 | 795 | — | 27,361 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 175,793 | — | — | (175,793 | ) | — | |||||||||||||||
Net income from continuing operations | 107,728 | 160,173 | 8,152 | (175,793 | ) | 100,260 | |||||||||||||||
Income/(loss) from discontinued operations, net of tax | — | 14,595 | (172 | ) | — | 14,423 | |||||||||||||||
(Loss)/gain on sale of discontinued operations, net of tax | — | (8,514 | ) | 1,506 | — | (7,008 | ) | ||||||||||||||
Net income | 107,728 | 166,254 | 9,486 | (175,793 | ) | 107,675 | |||||||||||||||
Less: Net loss attributable to noncontrolling interests | — | — | (53 | ) | — | (53 | ) | ||||||||||||||
Net income attributable to CoreLogic | $ | 107,728 | $ | 166,254 | $ | 9,539 | $ | (175,793 | ) | $ | 107,728 | ||||||||||
Net income | $ | 107,728 | $ | 166,254 | $ | 9,486 | $ | (175,793 | ) | $ | 107,675 | ||||||||||
Total other comprehensive loss | (38,075 | ) | — | (43,337 | ) | 43,337 | (38,075 | ) | |||||||||||||
Less: Comprehensive loss attributable to noncontrolling interests | — | — | (53 | ) | — | (53 | ) | ||||||||||||||
Comprehensive income/(loss) attributable to CoreLogic | $ | 69,653 | $ | 166,254 | $ | (33,798 | ) | $ | (132,456 | ) | $ | 69,653 | |||||||||
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 | |||||||||||
Intercompany revenue | — | — | 1,955 | (1,955 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 636,707 | 34,732 | (1,955 | ) | 669,484 | |||||||||||||||
Selling, general and administrative expenses | 65,637 | 257,650 | 33,318 | — | 356,605 | ||||||||||||||||
Depreciation and amortization | 2,937 | 91,173 | 22,998 | — | 117,108 | ||||||||||||||||
Impairment loss | — | 19,880 | — | — | 19,880 | ||||||||||||||||
Operating (loss)/income | (68,574 | ) | 238,726 | 250 | — | 170,402 | |||||||||||||||
Total interest (expense)/income, net | (50,222 | ) | 88 | (2,339 | ) | — | (52,473 | ) | |||||||||||||
Gain on investments and other, net | 3,492 | 1,504 | — | — | 4,996 | ||||||||||||||||
(Benefit)/provision for income taxes | (44,908 | ) | 102,058 | 6,338 | — | 63,488 | |||||||||||||||
Equity in earnings of affiliates, net of tax | — | 35,153 | 830 | — | 35,983 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 182,689 | — | — | (182,689 | ) | — | |||||||||||||||
Net income/(loss) from continuing operations | 112,293 | 173,413 | (7,597 | ) | (182,689 | ) | 95,420 | ||||||||||||||
Income/(loss) from discontinued operations, net of tax | — | 15,298 | (2,911 | ) | — | 12,387 | |||||||||||||||
Loss from sale of discontinued operations, net of tax | — | 3,841 | — | — | 3,841 | ||||||||||||||||
Net income/(loss) | 112,293 | 192,552 | (10,508 | ) | (182,689 | ) | 111,648 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | — | — | (645 | ) | — | (645 | ) | ||||||||||||||
Net income/(loss) attributable to CoreLogic | $ | 112,293 | $ | 192,552 | $ | (9,863 | ) | $ | (182,689 | ) | $ | 112,293 | |||||||||
Net income/(loss) | $ | 112,293 | $ | 192,552 | $ | (10,508 | ) | $ | (182,689 | ) | $ | 111,648 | |||||||||
Total other comprehensive income | 4,802 | — | 5,921 | (5,921 | ) | 4,802 | |||||||||||||||
Less: Comprehensive loss attributable to noncontrolling interests | — | — | (645 | ) | — | (645 | ) | ||||||||||||||
Comprehensive income/(loss) attributable to CoreLogic | $ | 117,095 | $ | 192,552 | $ | (3,942 | ) | $ | (188,610 | ) | $ | 117,095 | |||||||||
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 | |||||||||||
Net cash used in operating activities - discontinued operations | — | (13,717 | ) | — | — | (13,717 | ) | ||||||||||||||
Total cash provided by operating activities | $ | 9,433 | $ | 269,599 | $ | 42,844 | $ | — | $ | 321,876 | |||||||||||
Cash flow from investing activities: | |||||||||||||||||||||
Purchases of property and equipment | $ | (1,964 | ) | $ | (40,598 | ) | $ | (9,463 | ) | $ | — | $ | (52,025 | ) | |||||||
Purchases of capitalized data and other intangible assets | — | (30,077 | ) | (5,052 | ) | — | (35,129 | ) | |||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (665,753 | ) | (29,118 | ) | — | (694,871 | ) | |||||||||||||
Cash received from sale of subsidiary, net | — | 25,366 | — | — | 25,366 | ||||||||||||||||
Proceeds from sale of property and equipment | — | 13,937 | — | — | 13,937 | ||||||||||||||||
Change in restricted cash | (700 | ) | 306 | 84 | — | (310 | ) | ||||||||||||||
Net cash used in investing activities - continuing operations | (2,664 | ) | (696,819 | ) | (43,549 | ) | — | (743,032 | ) | ||||||||||||
Net cash provided by investing activities - continuing operations | — | — | 1,536 | — | 1,536 | ||||||||||||||||
Total cash used in by investing activities | $ | (2,664 | ) | $ | (696,819 | ) | $ | (42,013 | ) | $ | — | $ | (741,496 | ) | |||||||
Cash flow from financing activities: | |||||||||||||||||||||
Proceeds from long-term debt | $ | 690,017 | $ | — | $ | — | $ | — | $ | 690,017 | |||||||||||
Debt issuance costs | (14,042 | ) | — | — | — | (14,042 | ) | ||||||||||||||
Repayments of long-term debt | (195,217 | ) | (4,789 | ) | — | — | (200,006 | ) | |||||||||||||
Shares repurchased and retired | (91,475 | ) | — | — | — | (91,475 | ) | ||||||||||||||
Proceeds from issuance of stock related to stock options and employee benefit plans | 15,213 | — | — | — | 15,213 | ||||||||||||||||
Minimum tax withholding paid on behalf of employees for restricted stock units | (15,980 | ) | — | — | — | (15,980 | ) | ||||||||||||||
Tax benefit related to stock options | 6,791 | — | — | — | 6,791 | ||||||||||||||||
Intercompany loan payments | (610,239 | ) | (179,187 | ) | — | 789,426 | — | ||||||||||||||
Intercompany loan proceeds | 179,187 | 606,212 | 4,027 | (789,426 | ) | — | |||||||||||||||
Net cash (used in)/provided by financing activities - continuing operations | (35,745 | ) | 422,236 | 4,027 | — | 390,518 | |||||||||||||||
Net cash provided by financing activities - discontinued operations | — | — | — | — | — | ||||||||||||||||
Total cash (used in)/provided by financing activities | $ | (35,745 | ) | $ | 422,236 | $ | 4,027 | $ | — | $ | 390,518 | ||||||||||
Effect of Exchange Rate on cash | — | — | (625 | ) | — | (625 | ) | ||||||||||||||
Net decrease in cash and cash equivalents | $ | (28,976 | ) | $ | (4,984 | ) | $ | 4,233 | $ | — | $ | (29,727 | ) | ||||||||
Cash and cash equivalents at beginning of period | 104,310 | — | 30,109 | — | 134,419 | ||||||||||||||||
Less: Change in cash and cash equivalents - discontinued operations | — | (13,717 | ) | 1,536 | — | (12,181 | ) | ||||||||||||||
Plus: Cash swept (to)/from discontinued operations | (13,732 | ) | — | 1,536 | — | (12,196 | ) | ||||||||||||||
Cash and cash equivalents at end of year | $ | 61,602 | $ | 8,733 | $ | 34,342 | $ | — | $ | 104,677 | |||||||||||
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 | ||||||||||
Net cash provided by operating activities - discontinued operations | — | 24,094 | 1,506 | — | 25,600 | ||||||||||||||||
Total cash (used in)/provided by operating activities | $ | (51,864 | ) | $ | 378,098 | $ | 27,586 | $ | — | $ | 353,820 | ||||||||||
Cash flow from investing activities: | |||||||||||||||||||||
Purchases of property and equipment | $ | (8,870 | ) | $ | (51,660 | ) | $ | (8,215 | ) | $ | — | $ | (68,745 | ) | |||||||
Purchases of capitalized data and other intangible assets | (348 | ) | (23,171 | ) | (14,322 | ) | — | (37,841 | ) | ||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (92,591 | ) | 542 | — | (92,049 | ) | ||||||||||||||
Cash received from sale of discontinued operations | — | 2,263 | — | — | 2,263 | ||||||||||||||||
Purchases of investments | — | (2,351 | ) | — | — | (2,351 | ) | ||||||||||||||
Change in restricted cash | 7,964 | — | 2,104 | — | 10,068 | ||||||||||||||||
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 | ||||||||||||||||
Total cash used in investing activities | $ | (1,254 | ) | $ | (165,648 | ) | $ | (19,891 | ) | $ | — | $ | (186,793 | ) | |||||||
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 | |||||||||||
Unaudited_Quarterly_Financial_
Unaudited Quarterly Financial Data | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||
Unaudited Quarterly Financial Data | Unaudited Quarterly Financial Data | |||||||||||||||
The following table sets forth certain unaudited consolidated quarterly financial data for years ended 2014 and 2013: | ||||||||||||||||
For the Quarters Ended | ||||||||||||||||
(in thousands, except per share amounts) | 3/31/14 | 6/30/14 | 9/30/14 | 12/31/14 | ||||||||||||
Operating revenue | $ | 326,104 | $ | 365,970 | $ | 367,454 | $ | 345,512 | ||||||||
Operating income | $ | 14,825 | $ | 41,020 | $ | 77,755 | $ | 36,158 | ||||||||
Equity in earnings of affiliates, net of tax | $ | 2,382 | $ | 3,875 | $ | 4,032 | $ | 3,831 | ||||||||
Amounts attributable to CoreLogic: | ||||||||||||||||
(Loss)/income from continuing operations, net of tax | $ | (3,179 | ) | $ | 26,740 | $ | 49,719 | $ | 16,461 | |||||||
Income/(loss) from discontinued operations, net of tax | 387 | (10,752 | ) | (4,856 | ) | (1,432 | ) | |||||||||
Income/(loss) from sale of discontinued operations, net of tax | — | — | 476 | (364 | ) | |||||||||||
Net (loss)/income attributable to CoreLogic stockholders | $ | (2,792 | ) | $ | 15,988 | $ | 45,339 | $ | 14,665 | |||||||
Basic income/(loss) per share: | ||||||||||||||||
(Loss)/income from continuing operations, net of tax | $ | (0.03 | ) | $ | 0.29 | $ | 0.55 | $ | 0.18 | |||||||
Income/(loss) from discontinued operations, net of tax | — | (0.12 | ) | (0.05 | ) | (0.02 | ) | |||||||||
Income/(loss) from sale of discontinued operations, net of tax | — | — | 0.01 | — | ||||||||||||
Net income | $ | (0.03 | ) | $ | 0.17 | $ | 0.51 | $ | 0.16 | |||||||
Diluted income/(loss) per share: | ||||||||||||||||
(Loss)/income from continuing operations, net of tax | $ | (0.03 | ) | $ | 0.29 | $ | 0.54 | $ | 0.18 | |||||||
Income/(loss) from discontinued operations, net of tax | — | (0.12 | ) | (0.05 | ) | (0.02 | ) | |||||||||
Income/(loss) from sale of discontinued operations, net of tax | — | — | 0.01 | — | ||||||||||||
Net income | $ | (0.03 | ) | $ | 0.17 | $ | 0.5 | $ | 0.16 | |||||||
Weighted-average common shares outstanding: | ||||||||||||||||
Basic | 91,433 | 91,750 | 90,518 | 89,597 | ||||||||||||
Diluted | 91,433 | 93,062 | 91,987 | 91,245 | ||||||||||||
For the Quarters Ended | ||||||||||||||||
(in thousands, except per share amounts) | 3/31/13 | 6/30/13 | 9/30/13 | 12/31/13 | ||||||||||||
Operating revenue | $ | 350,861 | $ | 368,437 | $ | 356,581 | $ | 328,522 | ||||||||
Operating income/(loss) | $ | 47,065 | $ | 52,980 | $ | 61,361 | $ | (19,264 | ) | |||||||
Equity in earnings of affiliates, net of tax | $ | 8,788 | $ | 9,347 | $ | 5,716 | $ | 3,510 | ||||||||
Amounts attributable to CoreLogic: | ||||||||||||||||
Income/(loss) from continuing operations, net of tax | $ | 30,907 | $ | 35,352 | $ | 43,382 | $ | (9,328 | ) | |||||||
Income/(loss) from discontinued operations, net of tax | 4,405 | 8,198 | 5,332 | (3,512 | ) | |||||||||||
Loss on sale of discontinued operations, net of tax | (1,744 | ) | — | (5,052 | ) | (212 | ) | |||||||||
Net income | $ | 33,568 | $ | 43,550 | $ | 43,662 | $ | (13,052 | ) | |||||||
Basic income/(loss) per share: | ||||||||||||||||
Income/(loss) from continuing operations, net of tax | $ | 0.32 | $ | 0.37 | $ | 0.46 | $ | (0.10 | ) | |||||||
Income/(loss) from discontinued operations, net of tax | 0.05 | 0.09 | 0.06 | (0.04 | ) | |||||||||||
Loss on sale of discontinued operations, net of tax | (0.02 | ) | — | (0.05 | ) | — | ||||||||||
Net income | $ | 0.35 | $ | 0.46 | $ | 0.47 | $ | (0.14 | ) | |||||||
Diluted income/(loss) per share: | ||||||||||||||||
Income/(loss) from continuing operations, net of tax | $ | 0.31 | $ | 0.36 | $ | 0.45 | $ | (0.10 | ) | |||||||
Income/(loss) from discontinued operations, net of tax | 0.04 | 0.08 | 0.06 | (0.04 | ) | |||||||||||
Loss on sale of discontinued operations, net of tax | (0.02 | ) | — | (0.05 | ) | — | ||||||||||
Net income | $ | 0.33 | $ | 0.44 | $ | 0.46 | $ | (0.14 | ) | |||||||
Weighted-average common shares outstanding: | ||||||||||||||||
Basic | 97,113 | 95,516 | 94,773 | 92,946 | ||||||||||||
Diluted | 99,056 | 97,180 | 96,793 | 92,946 | ||||||||||||
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||
Schedule II - Valuation and Qualifying Accounts | CORELOGIC AND SUBSIDIARY COMPANIES | ||||||||||||||||||||
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||||||
December 31, 2014, 2013 and 2012 | |||||||||||||||||||||
(in thousands) | Balance at Beginning of Period | Charged to Costs & Expenses | Charged to Other Accounts | Deductions | Balance at End of Period | ||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||
Allowance for doubtful accounts | $ | 13,045 | $ | 3,228 | $ | — | $ | (5,447 | ) | -1 | $ | 10,826 | |||||||||
Claim losses | $ | 26,128 | $ | 11,138 | $ | — | $ | (12,395 | ) | -2 | $ | 24,871 | |||||||||
Tax valuation allowance | $ | 24,173 | $ | (5,506 | ) | $ | 3,244 | (3 | ) | $ | — | $ | 21,911 | ||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||
Allowance for doubtful accounts | $ | 19,511 | $ | 5,782 | $ | — | $ | (12,248 | ) | -1 | $ | 13,045 | |||||||||
Claim losses | $ | 26,106 | $ | 13,998 | $ | — | $ | (13,976 | ) | -2 | $ | 26,128 | |||||||||
Tax valuation allowance | $ | 30,955 | $ | (5,295 | ) | $ | (1,487 | ) | (3 | ) | $ | — | $ | 24,173 | |||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||
Allowance for doubtful accounts | $ | 15,634 | $ | 11,109 | $ | — | $ | (7,232 | ) | -1 | $ | 19,511 | |||||||||
Claim losses | $ | 22,819 | $ | 19,216 | $ | — | $ | (15,929 | ) | -2 | $ | 26,106 | |||||||||
Tax valuation allowance | $ | 29,389 | $ | 13,134 | $ | (11,568 | ) | (3 | ) | $ | — | $ | 30,955 | ||||||||
-1 | Amount represents accounts written off, net of recoveries. | ||||||||||||||||||||
-2 | Amount represents claim payments, net of recoveries. | ||||||||||||||||||||
-3 | Amount represents adjustments for acquired net operating loss and credit carryforwards. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Accounting Policies [Abstract] | ||||||||
Principles of Consolidation | Principles of Consolidation | |||||||
The consolidated financial statements include the accounts of the Company and all controlled subsidiaries. All significant intercompany transactions and balances have been eliminated. Equity investments in which we exercise significant influence, do not control, and are not the primary beneficiary, are accounted for using the equity method. Investments in which we do not exercise significant influence over the investee are accounted for under the cost method. | ||||||||
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | Out-of-Period Adjustment | |||||||
During the second quarter of 2014, we identified an error which understated a 2013 goodwill impairment charge by $3.9 million ($3.3 million, net of tax) see Note 6 – Goodwill, Net for further discussion. We recorded an out-of-period adjustment to correct the error in the quarter ended June 30, 2014 and reduced basic and diluted net income per share by $0.04 for the year ended December 31, 2014. We assessed the materiality of this error in accordance with the SEC’s Staff Accounting Bulletin (“SAB”) No. 99 and SAB No. 108, and concluded the error was not material to the results of operations or financial condition for the prior annual, interim periods or the full year results for fiscal year 2014. | ||||||||
Use of Estimates | Use of Estimates | |||||||
The preparation of financial statements in accordance with general accepted accounting policies ("GAAP") requires management to make estimates and assumptions that affect the financial statements. Actual results could differ from the estimates and assumptions used. | ||||||||
Cash Equivalents | Cash Equivalents | |||||||
We consider cash equivalents to be all short-term investments that have an initial maturity of 90 days or less and are not restricted. | ||||||||
Accounts Receivable | Accounts Receivable | |||||||
Accounts receivable are generally due from mortgage originators and servicers, financial institutions, insurers, and other businesses, government and government-sponsored enterprises located throughout the United States and abroad. Credit is extended based on an evaluation of the client’s financial condition, and generally, collateral is not required. | ||||||||
The allowance for doubtful accounts for all probable uncollectible receivables is based on a combination of historical data, cash payment trends, specific client issues, write-off trends, general economic conditions and other factors. These factors are continuously monitored by management to arrive at the estimate for the amount of accounts receivable that may be ultimately uncollectible. In circumstances where we are aware of a specific client’s inability to meet its financial obligations, we record a specific allowance for doubtful accounts against amounts due to reduce the net recognized receivable to the amount we reasonably believe will be collected. Management believes the balances for allowance for doubtful accounts at December 31, 2014 and 2013 are reasonably stated. | ||||||||
Marketable Securities | Marketable Securities | |||||||
Debt securities are carried at fair value and consist primarily of investments in obligations of various corporations and mortgage-backed securities. Equity securities are carried at fair value and consist primarily of investments in marketable common and preferred stock. We classify our publicly traded debt and equity 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/(loss). As of December 31, 2014 and 2013, our marketable securities consist primarily of investments in preferred stock of $22.3 million and $22.2 million, respectively. | ||||||||
Property and Equipment | Property and Equipment | |||||||
Property and equipment are recorded at cost. Property and equipment includes computer software acquired or developed for internal use and for use with our products. Software development costs include certain payroll-related costs of employees directly associated with developing software and payments to third parties for completed or developing software. We begin capitalizing qualifying software development costs on a project when the preliminary project stage is completed and management has authorized further funding for completion. Capitalization ends once a project is substantially complete and the software is ready for its intended use. Costs incurred in the planning and post-implementation phases of software developing are expensed as incurred. | ||||||||
Depreciation on buildings and on furniture and equipment is computed using the straight-line method over estimated useful lives of 25 to 40, and 3 to 10 years, respectively. Capitalized software costs are amortized using the straight-line method over estimated useful lives of 3 to 10 years. Leasehold improvements are amortized over useful lives that are consistent with the lease terms. | ||||||||
Capitalized Data and Database Developement Costs, Net | Capitalized Data and Database Development Costs, Net | |||||||
Capitalized data and database development costs represent our cost to acquire or develop the proprietary databases of information for client use. The costs are capitalized from the time the third party data is acquired until the information is ready for use, assuming both the preliminary project stage is complete and management has authorized funding for the completion of the data project. Property and eviction data costs are amortized using the straight-line method over estimated useful lives of 5 to 20 years. | ||||||||
The carrying value for the flood data zone certification is $55.4 million as of December 31, 2014 and 2013. Because properly maintained flood zone databases have indefinite lives and do not diminish in value with the passage of time, no provision has been made for depreciation or amortization. We periodically analyze our assets for impairment. This analysis includes, but is not limited to, the effects of obsolescence, duplication, demand and other economic factors. See further discussion in Note 4 – Capitalized Data and Database Development Costs, Net. | ||||||||
Restricted Cash | 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. | ||||||||
Purchase Accounting | Purchase Accounting | |||||||
The purchase method of accounting requires companies to assign values to assets and liabilities acquired based upon their fair values at the acquisition date. In most instances, there are not readily defined or listed market prices for individual assets and liabilities acquired in connection with a business, including intangible assets. The determination of fair value for assets and liabilities in many instances requires a high degree of estimation. The valuation of intangible assets, in particular, is very subjective. We generally obtain third-party valuations to assist us in estimating fair values. The use of different valuation techniques and assumptions could change the amounts and useful lives assigned to the assets and liabilities acquired and related amortization expense. | ||||||||
Goodwill | Goodwill | |||||||
We perform an annual impairment test for goodwill and other indefinite-lived intangible assets for each reporting unit every fourth quarter. In addition, we periodically assess whether events or circumstances have occurred that potentially indicate the carrying amounts of these assets may not be recoverable. In assessing the overall carrying value of our goodwill and other intangibles, we first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Examples of such events or circumstances include the following: cost factors, financial performance, legal and regulatory factors, entity specific events, industry and market factors, macroeconomic conditions and other considerations. | ||||||||
If, after assessing the totality of events or circumstances, we determine that it is more likely than not the fair value of a reporting unit is less than its carrying value, then our impairment testing process may include two additional steps. The first step (“Step 1”) compares the fair value of each reporting unit to its book value. The fair value of each reporting unit is determined by using discounted cash flow analysis and market approach valuations. If the fair value of the reporting unit exceeds its book value, then goodwill is not considered impaired and no additional analysis is required. However, if the book value is greater than the fair value, a second step (“Step 2”) must be completed to determine if the implied fair value of the goodwill exceeds the book value of the goodwill. | ||||||||
Step 2 involves calculating an implied fair value of goodwill for each reporting unit for which Step 1 indicated impairment. The implied fair value of goodwill is determined in a manner similar to the amount of goodwill calculated in a business combination, by measuring the excess of the estimated fair value of the reporting unit, as determined in Step 1, over the aggregate estimated fair values of the individual assets, liabilities and identifiable intangibles as if the reporting unit was being acquired in a business combination. If the implied fair value of goodwill exceeds the carrying value of goodwill assigned to the reporting unit, there is no impairment. If the carrying value of goodwill assigned to a reporting unit exceeds the implied fair value of the goodwill, an impairment loss is recorded for the excess. An impairment loss cannot exceed the carrying value of goodwill assigned to a reporting unit, and the loss establishes a new basis in the goodwill. Subsequent reversal of goodwill impairment losses is not permitted. The valuation of goodwill requires assumptions and estimates of many critical factors including revenue growth, cash flows, market multiples and discount rates. Forecasts of future operations are based, in part, on operating results and our expectations as to future market conditions. These types of analysis contain uncertainties because they require us to make assumptions and to apply judgments to estimate industry economic factors and the profitability of future business strategies. However, if actual results are not consistent with our estimates and assumptions, we may be exposed to an additional impairment loss that could be material. | ||||||||
These tests utilize a variety of valuation techniques, all of which require us to make estimates and judgments. Fair value is determined by employing an expected present value technique, which utilizes multiple cash flow scenarios that reflect a range of possible outcomes and an appropriate discount rate. The use of comparative market multiples compares the reporting unit to other comparable companies (if such comparables are present in the marketplace) based on valuation multiples to arrive at a fair value. We also use certain of these valuation techniques in accounting for business combinations, primarily in the determination of the fair value of acquired assets and liabilities. In assessing the fair value, we utilize the results of the valuations and consider the range of fair values determined under all methods and the extent to which the fair value exceeds the book value of the equity. See further discussion in Note 6 – Goodwill, Net. | ||||||||
Other Intangible Assets | Other Intangible Assets | |||||||
Our intangible assets consist of covenants not to compete, client lists and trade names. Each of these intangible assets is amortized on a straight-line basis over its useful life ranging from 2 to 20 years and is subject to impairment tests on a periodic basis. | ||||||||
Long-Lived Assets | Long-Lived Assets | |||||||
Long-lived assets held and used include investment in affiliates, property and equipment, capitalized software and other intangible assets. Management uses estimated future cash flows (undiscounted and excluding interest) to measure the recoverability of long-lived assets held and used, at the asset group level, whenever events or changes in circumstances indicate that the carrying value of an asset may not be fully recoverable. If the undiscounted cash flow analysis indicates a long-lived asset is not recoverable, the impairment loss recorded is the excess of the carrying amount of the asset over its fair value. | ||||||||
In addition, we carry long-lived assets held for sale at the lower of cost or market as of the date that certain criteria have been met. | ||||||||
Revenue Recognition | Revenue Recognition | |||||||
We derive our revenues principally from U.S. mortgage originators and servicers with good creditworthiness. Our product and service deliverables are generally comprised of data or other related services. Our revenue arrangements with our clients generally include a work order or written agreement specifying the data products or services to be delivered and related terms of sale including payment amounts and terms. The primary revenue recognition-related judgments we exercise are to determine when all of the following criteria have been met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) our price to the buyer is fixed or determinable; and (4) collectability is reasonably assured. | ||||||||
For products or services where delivery occurs at a point in time, we recognize revenue upon delivery. These products or services include sales of tenancy data and analytics, credit solutions for mortgage and automotive industries, under-banked credit services, flood data and services, claims management and default services. | ||||||||
For products or services where delivery occurs over time, we recognize revenue ratably on a subscription basis over the contractual service period once initial delivery has occurred. Generally these service periods range from one to three years. Products or services recognized on a license or subscription basis include information and analytic products, flood database licenses, realtors solutions and lending solutions. For certain of our products or services, clients may also pay us upfront set-up fees, which we defer and recognize into revenue over the longer of the contractual term or expected client relationship period. | ||||||||
Tax service revenues are comprised of periodic loan fees and life-of-loan fees. For periodic loans, we generate monthly fees at a contracted fixed rate for as long as we service the loan. Loans serviced with a one-time, life-of-loan fee are billed once the loan is boarded to our tax servicing system in accordance with a client tax servicing agreement. Life-of-loan fees are then deferred and recognized ratably over the expected service period. The rates applied to recognize revenues assume a 10-year expected life and are adjusted to reflect prepayments. We review the tax service contract portfolio quarterly to determine if there have been material changes in the expected lives, deferred on-boarding costs, expected service period and/or changes in the number and/or timing of prepayments. Accordingly, we may adjust the rates to reflect current trends. | ||||||||
Cost of Services | Cost of Services | |||||||
Cost of services represents direct costs incurred in the creation and delivery of our products and services. Cost of services consists primarily of data acquisition costs, royalty fees, hardware and software expense associated with transaction processing systems, telecommunication and computer network expense and occupancy costs associated with facilities where these functions are performed by employees. Cost of services also includes client service costs, which include personnel costs to collect, maintain and update our proprietary databases, to develop and maintain software application platforms and to provide consumer and client call center support. | ||||||||
Selling, General and Administrative Expenses | Selling, General and Administrative Expenses | |||||||
Selling, general and administrative expenses consist primarily of personnel-related costs, selling costs, restructuring costs, corporate costs, fees for professional and consulting services, advertising costs, uncollectible accounts and other costs of administration such as marketing, human resources, finance, legal and administrative roles. | ||||||||
Income Taxes | Income Taxes | |||||||
We account for income taxes under the asset and liability method, whereby we recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as expected benefits of utilizing net operating loss and credit carryforwards. We measure deferred tax assets and liabilities using enacted tax rates we expect to apply in the years in which we expect to recover or settle those temporary differences. We recognize in income the effect of a change in tax rates on deferred tax assets and liabilities in the period that includes the enactment date. | ||||||||
We recognize the effect of income tax positions only if sustaining those positions is more likely than not. We reflect changes in recognition or measurement of uncertain tax positions in the period in which a change in judgment occurs. We recognize interest and penalties, if any, related to uncertain tax positions within income tax expense. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheet. | ||||||||
We evaluate the need to establish a valuation allowance based upon expected levels of taxable income, future reversals of existing temporary differences, tax planning strategies and recent financial operations. We establish a valuation allowance to reduce deferred tax assets to the extent we believe it is more-likely-than-not that some or all of the deferred tax assets will not be realized. | ||||||||
Comprehensive Income (Loss) | 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 December 31, 2014 and 2013: | ||||||||
2014 | 2013 | |||||||
Cumulative foreign currency translation | $ | (77,460 | ) | $ | (50,787 | ) | ||
Cumulative supplemental benefit plans | (4,266 | ) | (568 | ) | ||||
Net unrecognized losses on interest rate swap | (2,335 | ) | (2,482 | ) | ||||
Net unrealized gains on marketable securities | 275 | 248 | ||||||
Accumulative other comprehensive loss | $ | (83,786 | ) | $ | (53,589 | ) | ||
Share-based Compensation | Share-based Compensation | |||||||
We measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The cost is recognized over the period during which an employee is required to provide services in exchange for the award. We used the binomial lattice option-pricing model to estimate the fair value for any options granted after December 31, 2005 through December 31, 2009. For the options granted subsequent to December 31, 2009, we used the Black-Scholes model to estimate the fair value. We utilize the Monte-Carlo simulation to estimate the fair value for any performance-based restricted stock units (“PBRSUs”) granted. We utilize the straight-line single option method of attributing the value of stock-based compensation expense unless another expense attribution model is required. As stock-based compensation expense recognized in results of operations is based on awards ultimately expected to vest, stock-based compensation expense has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. We apply the long-form method for determining the pool of windfall tax benefits. | ||||||||
Currently, our primary means of providing stock-based compensation is granting restricted stock units (“RSUs”), PBRSUs and stock options. The fair value of any grant is based on the market value of our shares on the date of grant and is generally recognized as compensation expense over the vesting period. Shares granted to certain key employees have graded vesting and have a service and performance requirement and are therefore expensed using the accelerated multiple-option method to record stock-based compensation expense. All other awards have graded vesting and service is the only requirement to vest in the award and are therefore generally expensed using the straight-line single option method to record stock-based compensation expense. | ||||||||
In addition, we have an employee stock purchase plan that allows eligible employees to purchase common stock of the Company at 85.0% of the closing price on the first or last day of each quarter, whichever is lower (which was updated for 2014 from the closing price on the last day of each quarter). We recognize an expense in the amount equal to the estimated fair value of the discount. The 2001 employee stock purchase plan expired in September 2011. Our 2012 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. | ||||||||
See Note 13 –Share-based Compensation Plans for additional information related to stock options and restricted stock units. | ||||||||
Foreign Currency | Foreign Currency | |||||||
The functional currencies of our foreign subsidiaries are their respective local currencies. The financial statements of the foreign subsidiaries are translated into U.S. dollars for consolidation as follows: assets and liabilities at the exchange rate as of the balance sheet date, stockholders’ equity at the historical rates of exchange and income and expense amounts at average rates prevailing throughout the period. Translation adjustments resulting from the translation of the subsidiaries’ accounts are included in “Accumulated other comprehensive income/(loss),” a separate component of stockholders’ equity. Gains and losses resulting from foreign currency transactions are included within “Selling, general and administrative expenses” and are not material to the results of operations. | ||||||||
Earnings (loss) Per Share | Earnings/(loss) Per Share | |||||||
Basic earnings/(loss) per share is computed by dividing net income/(loss) available to our stockholders by the weighted-average number of common shares outstanding. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the weighted-average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if dilutive stock options had been exercised and RSUs and PBRSUs were vested. The dilutive effect of stock options and unvested RSUs and PBRSUs is computed using the treasury stock method, which assumes any proceeds that could be obtained upon the exercise of stock options and vesting of RSUs and PBRSUs would be used to purchase shares of common stock at the average market price for the period. The assumed proceeds include the purchase price the grantee pays, the hypothetical windfall tax benefit that we receive upon assumed exercise or vesting and the hypothetical average unrecognized compensation expense for the period. We calculate the assumed proceeds from excess tax benefits based on the “as-if” deferred tax assets calculated under stock-based compensation standards. | ||||||||
Escrow Administration Arrangements | Tax Escrow Disbursement Arrangements | |||||||
We administer tax escrow disbursements as a service to our clients in connection with our tax services business. These deposits are maintained in segregated accounts for the benefit of our clients. These deposits totaled $265.6 million and $317.2 million at December 31, 2014 and 2013, respectively. Because these deposits are held on behalf of our clients, they are not our funds and, therefore, are not included in the accompanying consolidated balance sheets. | ||||||||
These deposits generally remain in the accounts for a period of two to five business days, and we invest the funds in highly-rated, liquid investments, such as bank deposit products or AAA-rated money market funds. We earn interest income from these investments and bear the risk of any losses. 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. | ||||||||
Under our contracts with our clients, if we make a payment in error or fail to pay a taxing authority when a payment is due, we could be held liable to our clients for all or part of the financial loss they suffer as a result of our act or omission. We maintained claim reserves relating to incorrect disposition of assets of $20.2 million and $21.4 million as of December 31, 2014 and 2013, respectively. |
Description_of_the_Company_Tab
Description of the Company (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||
Reclassifications [Text Block] | The impact of the reclassification to our consolidated statements of operations includes goodwill impairment of $3.9 million and $42.2 million for the years ended December 31, 2014 and 2013, respectively, and is as follows: | |||||||
2014 | 2013 | |||||||
Operating revenues | $ | 66,560 | $ | 73,775 | ||||
Net income from continuing operations | $ | 4,584 | $ | (19,022 | ) | |||
Basic income per share from continuing operations | $ | 0.05 | $ | (0.20 | ) | |||
Diluted income per share from continuing operations | $ | 0.05 | $ | (0.20 | ) | |||
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Accounting Policies [Abstract] | ||||||||
Comprehensive Income (Loss) [Table Text Block] | The following table shows the components of accumulated other comprehensive loss, net of taxes as of December 31, 2014 and 2013: | |||||||
2014 | 2013 | |||||||
Cumulative foreign currency translation | $ | (77,460 | ) | $ | (50,787 | ) | ||
Cumulative supplemental benefit plans | (4,266 | ) | (568 | ) | ||||
Net unrecognized losses on interest rate swap | (2,335 | ) | (2,482 | ) | ||||
Net unrealized gains on marketable securities | 275 | 248 | ||||||
Accumulative other comprehensive loss | $ | (83,786 | ) | $ | (53,589 | ) |
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment [Table Text Block] | Property and equipment, net as of December 31, 2014 and 2013 consists of the following: | |||||||
(in thousands) | 2014 | 2013 | ||||||
Land | $ | 4,000 | $ | 4,000 | ||||
Buildings | 230 | 10,780 | ||||||
Furniture and equipment | 91,397 | 90,420 | ||||||
Capitalized software | 701,482 | 498,522 | ||||||
Leasehold improvements | 30,001 | 50,369 | ||||||
827,110 | 654,091 | |||||||
Less: accumulated depreciation | (458,496 | ) | (456,549 | ) | ||||
Property and equipment, net | $ | 368,614 | $ | 197,542 | ||||
Capitalized_Data_and_Database_1
Capitalized Data and Database Development Costs, Net (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Research and Development [Abstract] | ||||||||
Schedule Of Capitalized Database Developement Costs | Capitalized data and database development costs, net as of December 31, 2014 and 2013 consists of the following: | |||||||
(in thousands) | 2014 | 2013 | ||||||
Property data | $ | 477,221 | $ | 446,991 | ||||
Flood data | 55,416 | 55,416 | ||||||
Eviction data | 18,068 | 16,559 | ||||||
550,705 | 518,966 | |||||||
Less accumulated amortization | (217,440 | ) | (188,778 | ) | ||||
Capitalized data and database costs, net | $ | 333,265 | $ | 330,188 | ||||
Investment_in_Affiliates_Net_T
Investment in Affiliates, Net (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||
Summarized Financial Information Of Joint Venture [Table Text Block] | The following summarized financial information for this investment (assuming 100.0% ownership interest) is as follows: | |||||||||||
(in thousands) | 2014 | 2013 | ||||||||||
Balance sheets | ||||||||||||
Total assets | $ | 44,536 | $ | 56,925 | ||||||||
Total liabilities | $ | 15,977 | $ | 28,562 | ||||||||
(in thousands) | 2014 | 2013 | 2012 | |||||||||
Statements of operations | ||||||||||||
Total revenues | $ | 221,328 | $ | 347,070 | $ | 451,876 | ||||||
Expenses and other | 183,761 | 282,686 | 370,533 | |||||||||
Net income from continuing operations | $ | 37,567 | $ | 64,384 | $ | 81,343 | ||||||
Income from discontinued operations | — | — | 7,050 | |||||||||
Net income attributable to RELS LLC | $ | 37,567 | $ | 64,384 | $ | 88,393 | ||||||
CoreLogic equity in earnings of affiliate, pre-tax | $ | 18,821 | $ | 32,256 | 44,285 | |||||||
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||
Schedule of Goodwill | A reconciliation of the changes in the carrying amount of goodwill, net, by reporting unit, for the years ended December 31, 2014 and 2013 is as follows: | |||||||||||
(in thousands) | D&A | TPS | Consolidated | |||||||||
Balance at January 1, 2013 | ||||||||||||
Goodwill | $ | 708,577 | $ | 653,771 | $ | 1,362,348 | ||||||
Accumulated impairment losses | (600 | ) | (6,925 | ) | (7,525 | ) | ||||||
Goodwill, net | 707,977 | 646,846 | 1,354,823 | |||||||||
Acquisitions | 26,846 | 28,942 | 55,788 | |||||||||
Translation adjustments | (20,262 | ) | — | (20,262 | ) | |||||||
Document solutions reclassification | (26,044 | ) | 26,044 | — | ||||||||
Other | 325 | — | 325 | |||||||||
Balance at December 31, 2013 | ||||||||||||
Goodwill, net | 688,842 | 701,832 | 1,390,674 | |||||||||
Acquisitions | 285,801 | 39,140 | 324,941 | |||||||||
Transfer from assets of discontinued operations | — | 77,616 | 77,616 | |||||||||
Impairment loss on transferred assets of discontinued operations | — | (3,900 | ) | (3,900 | ) | |||||||
Translation adjustments | (12,527 | ) | (303 | ) | (12,830 | ) | ||||||
Under-banked credit services reclassification | (9,044 | ) | 9,044 | — | ||||||||
Other | 4,257 | — | 4,257 | |||||||||
Balance at December 31, 2014 | ||||||||||||
Goodwill, net | $ | 957,329 | $ | 823,429 | $ | 1,780,758 | ||||||
Other_Identifiable_Intangible_1
Other Identifiable Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets by Major Class | Other identifiable intangible assets, net as of December 31, 2014 and 2013 consist of the following: | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in thousands) | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | ||||||||||||||||||
Client lists | $ | 394,070 | $ | (192,612 | ) | $ | 201,458 | $ | 318,939 | $ | (165,578 | ) | $ | 153,361 | ||||||||||
Non-compete agreements | 9,332 | (7,351 | ) | 1,981 | 9,150 | (6,659 | ) | 2,491 | ||||||||||||||||
Trade names and licenses | 93,497 | (18,666 | ) | 74,831 | 31,108 | (11,152 | ) | 19,956 | ||||||||||||||||
$ | 496,899 | $ | (218,629 | ) | $ | 278,270 | $ | 359,197 | $ | (183,389 | ) | $ | 175,808 | |||||||||||
Schedule of Expected Amortization Expense | Estimated amortization expense for other identifiable intangible assets anticipated for the next five years is as follows: | |||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
2015 | $ | 39,795 | ||||||||||||||||||||||
2016 | 33,650 | |||||||||||||||||||||||
2017 | 31,702 | |||||||||||||||||||||||
2018 | 30,898 | |||||||||||||||||||||||
2019 | 28,139 | |||||||||||||||||||||||
Thereafter | 114,086 | |||||||||||||||||||||||
$ | 278,270 | |||||||||||||||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Schedule of Long-term Debt Instruments | Long-term debt as of December 31, 2014 and 2013 consist of the following: | ||||||||
(in thousands) | 2014 | 2013 | |||||||
Acquisition-related notes: | |||||||||
Non-interest bearing acquisition note, $5.0 million installment due March 2016 | $ | 4,623 | $ | 9,276 | |||||
Notes: | |||||||||
7.25% senior notes due June 2021 | 393,000 | 393,000 | |||||||
5.7% senior debentures due August 2014 | — | 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 3.92% at December 31, 2014 | 85,000 | — | |||||||
Term loan facility borrowings due March 2019, weighted-average interest rate of 2.41% at December 31, 2014 | 786,250 | — | |||||||
Revolving line of credit borrowings due May 2016, weighted-average interest rate of 1.9% at December 31, 2013, extinguished March 2014 | — | 100,000 | |||||||
Term loan facility borrowings due 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 | 2,045 | 1,559 | |||||||
Total long-term debt | 1,330,563 | 839,930 | |||||||
Less current portion of long-term debt | 11,352 | 28,154 | |||||||
Long-term debt, net of current portion | $ | 1,319,211 | $ | 811,776 | |||||
Schedule of Maturities of Long-term Debt | The aggregate annual maturities for long-term debt are as follows: | ||||||||
(in thousands) | |||||||||
Year ending December 31, | |||||||||
2015 | $ | 11,352 | |||||||
2016 | 80,080 | ||||||||
2017 | 117,386 | ||||||||
2018 | 127,601 | ||||||||
2019 | 541,875 | ||||||||
Thereafter | 452,645 | ||||||||
Total (1) | $ | 1,330,939 | |||||||
-1 | Includes the acquisition related remaining note payable of $5.0 million, which is non-interest bearing and discounted to $4.6 million as of December 31, 2014. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign | Income before income taxes from continuing operations is as follows for the years ended December 31, 2014, 2013 and 2012: | ||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | ||||||||||||||||
United States | $ | 86,195 | $ | 22,988 | $ | 94,744 | $ | 43,022 | $ | 125,644 | $ | 56,928 | |||||||||
Foreign | 19,196 | — | 11,881 | 795 | (2,074 | ) | 1,153 | ||||||||||||||
Total | $ | 105,391 | $ | 22,988 | $ | 106,625 | $ | 43,817 | $ | 123,570 | $ | 58,081 | |||||||||
Schedule of Components of Income Tax Expense (Benefit) | The provision for taxes consists of the following for the years ended December 31, 2014, 2013 and 2012: | ||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||
Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | ||||||||||||||||
Current: | |||||||||||||||||||||
Federal | $ | 186 | $ | 7,603 | $ | 19,294 | $ | 14,083 | $ | 23,574 | $ | 18,929 | |||||||||
State | 2,137 | 1,265 | (1,596 | ) | 2,151 | 5,389 | 2,846 | ||||||||||||||
Foreign | 3,249 | — | 2,006 | 222 | (3,358 | ) | 323 | ||||||||||||||
5,572 | 8,868 | 19,704 | 16,456 | 25,605 | 22,098 | ||||||||||||||||
Deferred: | |||||||||||||||||||||
Federal | 26,769 | — | 14,568 | — | 25,530 | — | |||||||||||||||
State | 1,299 | — | (273 | ) | — | 2,658 | — | ||||||||||||||
Foreign | (3,870 | ) | — | (326 | ) | — | 9,695 | — | |||||||||||||
24,198 | — | 13,969 | — | 37,883 | — | ||||||||||||||||
Total income tax provision | $ | 29,770 | $ | 8,868 | $ | 33,673 | $ | 16,456 | $ | 63,488 | $ | 22,098 | |||||||||
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the provision for taxes based on the federal statutory income tax rate on income from continuing operations to our effective income tax rate is as follows for the years ended December 31, 2014, 2013 and 2012: | ||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||
Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | Continuing Operations Attributable to CoreLogic | Equity In Earnings of Affiliates | ||||||||||||||||
Federal statutory income tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | |||||||||
State taxes, net of federal benefit | 6.2 | 3.6 | 4 | 3.2 | 6.1 | 3.2 | |||||||||||||||
Foreign taxes (less than) in excess of federal rate | (5.6 | ) | — | 1 | (0.6 | ) | 5 | (0.1 | ) | ||||||||||||
Non-deductible expenses, including Separation-related | 1.7 | — | 4.9 | — | 0.3 | — | |||||||||||||||
Gain on disposition of subsidiary | — | — | — | — | — | — | |||||||||||||||
Change from investee to subsidiary | — | — | (2.3 | ) | — | — | — | ||||||||||||||
Change in uncertain tax positions | 1.3 | — | 2.7 | — | 0.1 | — | |||||||||||||||
Research and development credits | (7.9 | ) | — | (10.2 | ) | — | — | — | |||||||||||||
Other items, net | (2.5 | ) | — | (3.5 | ) | — | 4.9 | — | |||||||||||||
Effective income tax rate | 28.2 | % | 38.6 | % | 31.6 | % | 37.6 | % | 51.4 | % | 38.1 | % | |||||||||
Schedule of Deferred Tax Assets and Liabilities | The components of the deferred income tax assets and liabilities as of December 31, 2014 and 2013 are as follows: | ||||||||||||||||||||
(in thousands) | 2014 | 2013 | |||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||
Net losses and credit carryforwards | $ | 98,633 | $ | 41,582 | |||||||||||||||||
Deferred revenue | 137,090 | 115,850 | |||||||||||||||||||
Bad debt reserves | 2,962 | 5,205 | |||||||||||||||||||
Employee benefits | 47,414 | 48,646 | |||||||||||||||||||
Accrued expenses and loss reserves | 29,791 | 29,976 | |||||||||||||||||||
Other | (989 | ) | 324 | ||||||||||||||||||
Less: valuation allowance | (21,912 | ) | (24,173 | ) | |||||||||||||||||
$ | 292,989 | $ | 217,410 | ||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||
Depreciable and amortizable assets | 247,458 | 190,905 | |||||||||||||||||||
Investment in affiliates | 19,169 | 16,985 | |||||||||||||||||||
$ | 266,627 | $ | 207,890 | ||||||||||||||||||
Net deferred tax asset | $ | 26,362 | $ | 9,520 | |||||||||||||||||
Summary of Income Tax Contingencies | A reconciliation of the unrecognized tax benefits for the years ended December 31, 2014, 2013 and 2012 are as follows: | ||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||
Unrecognized tax benefits - opening balance | $ | 55,325 | $ | 52,654 | $ | 19,302 | |||||||||||||||
Gross increases - tax positions in prior period | 2,950 | — | 33,787 | ||||||||||||||||||
Gross decreases - tax positions in prior period | (22,698 | ) | — | (21 | ) | ||||||||||||||||
Gross increases - current-period tax positions | 651 | 2,671 | — | ||||||||||||||||||
Settlements with taxing authorities | (565 | ) | — | (163 | ) | ||||||||||||||||
Expiration of the statute of limitations for the assessment of taxes | — | — | (251 | ) | |||||||||||||||||
Unrecognized tax benefits - ending balance | $ | 35,663 | $ | 55,325 | $ | 52,654 | |||||||||||||||
EarningsLoss_Per_Share_Tables
Earnings/(Loss) Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Schedule of Earnings Per Share Reconciliation | The following is a reconciliation of net income per share attributable to CoreLogic for the years ended December 31, 2014, 2013 and 2012, using the treasury-stock method: | |||||||||||
(in thousands, except per share amounts) | 2014 | 2013 | 2012 | |||||||||
Numerator for basic and diluted net income/(loss) per share: | ||||||||||||
Income from continuing operations, net of tax | $ | 89,741 | $ | 100,313 | $ | 96,065 | ||||||
(Loss)/income from discontinued operations, net of tax | (16,653 | ) | 14,423 | 12,387 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | 112 | (7,008 | ) | 3,841 | ||||||||
Net income attributable to CoreLogic | $ | 73,200 | $ | 107,728 | $ | 112,293 | ||||||
Denominator: | ||||||||||||
Weighted-average shares for basic income/(loss) per share | 90,825 | 95,088 | 102,913 | |||||||||
Dilutive effect of stock options and restricted stock units | 1,604 | 2,021 | 1,137 | |||||||||
Weighted-average shares for diluted income/(loss) per share | 92,429 | 97,109 | 104,050 | |||||||||
Income/(loss) per share | ||||||||||||
Basic: | ||||||||||||
Income from continuing operations, net of tax | $ | 0.99 | $ | 1.05 | $ | 0.93 | ||||||
(Loss)/income from discontinued operations, net of tax | (0.18 | ) | 0.15 | 0.12 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | — | (0.07 | ) | 0.04 | ||||||||
Net income attributable to CoreLogic | $ | 0.81 | $ | 1.13 | $ | 1.09 | ||||||
Diluted: | ||||||||||||
Income from continuing operations, net of tax | $ | 0.97 | $ | 1.03 | $ | 0.92 | ||||||
(Loss)/income from discontinued operations, net of tax | (0.18 | ) | 0.15 | 0.12 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | — | (0.07 | ) | 0.04 | ||||||||
Net income attributable to CoreLogic | $ | 0.79 | $ | 1.11 | $ | 1.08 | ||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||
Schedule of Changes in Projected Benefit Obligations | The following table summarizes the balance sheet impact, including benefit obligations, assets and funded status associated with the SERPs and Restoration plan as of December 31, 2014 and 2013: | |||||||||||
(in thousands) | 2014 | 2013 | ||||||||||
Change in projected benefit obligation: | ||||||||||||
Benefit obligation at beginning of period | $ | 27,059 | $ | 34,102 | ||||||||
Service costs | 282 | 637 | ||||||||||
Interest costs | 1,233 | 1,293 | ||||||||||
Actuarial losses/(gains) | 5,564 | (5,826 | ) | |||||||||
Benefits paid | (1,879 | ) | (3,147 | ) | ||||||||
Projected benefit obligation at end of period | $ | 32,259 | $ | 27,059 | ||||||||
Change in plan assets: | ||||||||||||
Plan assets at fair value at beginning of period | $ | — | $ | 1,432 | ||||||||
Actual return on plan assets | — | (53 | ) | |||||||||
Company contributions | 1,879 | 1,770 | ||||||||||
Benefits paid | (1,879 | ) | (3,149 | ) | ||||||||
Plan assets at fair value at end of the period | — | — | ||||||||||
Reconciliation of funded status: | ||||||||||||
Unfunded status of the plans | $ | (32,259 | ) | $ | (27,059 | ) | ||||||
Amounts recognized in the consolidated balance sheet consist of: | ||||||||||||
Accrued benefit liability | $ | (32,259 | ) | $ | (27,059 | ) | ||||||
Pension plan asset | $ | — | $ | — | ||||||||
$ | (32,259 | ) | $ | (27,059 | ) | |||||||
Amounts recognized in accumulated other comprehensive income/(loss): | ||||||||||||
Unrecognized net actuarial loss | $ | 13,685 | $ | 8,840 | ||||||||
Unrecognized prior service credit | (6,775 | ) | (7,920 | ) | ||||||||
$ | 6,910 | $ | 920 | |||||||||
Schedule of Net Periodic Pension Costs | The net periodic pension cost for the years ended December 31, 2014, 2013 and 2012, for the FAC defined benefit pension plan, SERPs, Restoration plan and CDS Mapping cash balance plan includes the following components: | |||||||||||
(in thousands) | 2014 | 2013 | 2012 | |||||||||
Expenses: | ||||||||||||
Service costs | $ | 282 | $ | 637 | $ | 932 | ||||||
Interest costs | 1,231 | 1,293 | 1,386 | |||||||||
Expected return on plan assets | — | (57 | ) | (41 | ) | |||||||
Amortization of net (gain)/loss | (424 | ) | 179 | 80 | ||||||||
Net periodic benefit cost | $ | 1,089 | $ | 2,052 | $ | 2,357 | ||||||
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations | Weighted-average discount rate used to determine costs for the plans were as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
SERP Plans | 4.72 | % | 3.89 | % | 4.52 | % | ||||||
Restoration Plan | 4.82 | % | 4.02 | % | 4.57 | % | ||||||
CDS Mapping | N/A | N/A | 4 | % | ||||||||
Weighted-average actuarial assumptions used to determine benefit obligations for the plans were as follows: | ||||||||||||
2014 | 2013 | |||||||||||
SERP Plans | ||||||||||||
Discount rate | 3.85 | % | 4.72 | % | ||||||||
Salary increase rate | N/A | N/A | ||||||||||
Restoration Plan | ||||||||||||
Discount rate | 3.98 | % | 4.82 | % | ||||||||
CDS Mapping | ||||||||||||
Discount rate | N/A | N/A | ||||||||||
Salary increase rate | N/A | N/A | ||||||||||
Schedule of Net Funded Status | The following table provides the funded status in the defined SERPs as of December 31, 2014, 2013 and 2012: | |||||||||||
(in thousands) | 2014 | 2013 | 2012 | |||||||||
Projected benefit obligation | $ | 32,259 | $ | 27,059 | $ | 34,102 | ||||||
Accumulated benefit obligation | $ | 32,259 | $ | 27,059 | $ | 34,102 | ||||||
Plan assets at fair value at end of year | $ | — | $ | — | $ | — | ||||||
Schedule of Expected Benefit Payments | The following benefit payments for all plans, which reflect expected future turnover, as appropriate, are expected to be paid as follows: | |||||||||||
(in thousands) | ||||||||||||
2015 | $ | 1,955 | ||||||||||
2016 | 1,414 | |||||||||||
2017 | 1,397 | |||||||||||
2018 | 1,379 | |||||||||||
2019 | 1,361 | |||||||||||
2020-2024 | 8,358 | |||||||||||
$ | 15,864 | |||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||
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 December 31, 2014 are presented in the following table: | |||||||||||||||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||||||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 104,677 | $ | — | $ | — | $ | 104,677 | ||||||||||||||||||||||||||||
Restricted cash | — | 12,360 | — | 12,360 | ||||||||||||||||||||||||||||||||
Equity securities | 22,264 | — | — | 22,264 | ||||||||||||||||||||||||||||||||
Total Financial Assets | $ | 126,941 | $ | 12,360 | $ | — | $ | 139,301 | ||||||||||||||||||||||||||||
Financial Liabilities: | ||||||||||||||||||||||||||||||||||||
Total debt | $ | — | $ | 1,323,201 | $ | — | $ | 1,323,201 | ||||||||||||||||||||||||||||
Total Financial Liabilities | $ | — | $ | 1,323,201 | $ | — | $ | 1,323,201 | ||||||||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||||||||||||||
Liability for interest rate swap agreements | $ | — | $ | 3,781 | $ | — | $ | 3,781 | ||||||||||||||||||||||||||||
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 | Level 3 | Fair Value | ||||||||||||||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 134,419 | $ | — | $ | — | $ | 134,419 | ||||||||||||||||||||||||||||
Restricted cash | — | 12,050 | — | 12,050 | ||||||||||||||||||||||||||||||||
Equity securities | 22,220 | — | — | 22,220 | ||||||||||||||||||||||||||||||||
Total Financial Assets | $ | 156,639 | $ | 12,050 | $ | — | $ | 168,689 | ||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||
Schedule of Assets Measured on a Nonrecurring Basis | The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of and for the year ended December 31, 2014: | |||||||||||||||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Impairment Losses | |||||||||||||||||||||||||||||||||
Property and equipment, net | $ | — | $ | — | $ | — | $ | — | $ | 1,070 | ||||||||||||||||||||||||||
Goodwill, net | — | — | — | — | 3,900 | |||||||||||||||||||||||||||||||
Investment in affiliates, net | — | — | — | — | 360 | |||||||||||||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | 5,330 | |||||||||||||||||||||||||||
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of and for the year ended December 31, 2013: | ||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Impairment Losses | |||||||||||||||||||||||||||||||||
Assets of discontinued operations | $ | 19,961 | $ | — | $ | — | $ | 19,961 | $ | 9,614 | ||||||||||||||||||||||||||
Property and equipment, net | — | — | — | — | 1,969 | |||||||||||||||||||||||||||||||
Goodwill, net | 77,616 | — | — | 77,616 | 42,216 | |||||||||||||||||||||||||||||||
Other intangible assets, net | — | — | — | — | 248 | |||||||||||||||||||||||||||||||
$ | 97,577 | $ | — | $ | — | $ | 97,577 | $ | 54,047 | |||||||||||||||||||||||||||
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of and for the year ended December 31, 2012: | ||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Impairment Losses | |||||||||||||||||||||||||||||||||
Assets of discontinued operations | $ | — | $ | — | $ | — | $ | — | $ | 18,741 | ||||||||||||||||||||||||||
Property and equipment, net | — | — | — | — | 19,880 | |||||||||||||||||||||||||||||||
Investment in affiliates, net | — | — | — | — | 1,246 | |||||||||||||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | 39,867 | |||||||||||||||||||||||||||
ShareBased_Compensation_Plans_
Share-Based Compensation Plans (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | The RSU awards will vest ratably over 3 years. RSU activity for the year ended December 31, 2014 is as follows: | ||||||||||||
(in thousands, except weighted average fair value prices) | Number of Shares | Weighted Average Grant-Date Fair Value | |||||||||||
Unvested RSUs outstanding at December 31, 2013 | 1,466 | $ | 22.13 | ||||||||||
RSUs granted | 808 | $ | 30.62 | ||||||||||
RSUs vested | (697 | ) | $ | 20.89 | |||||||||
RSUs forfeited | (197 | ) | $ | 26.02 | |||||||||
Unvested RSUs outstanding at December 31, 2014 | 1,380 | $ | 27.17 | ||||||||||
Schedule of Share-based Payment Award, Performance-Based Units, 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: | ||||||||||||
2014 | 2013 | ||||||||||||
Expected dividend yield | — | % | — | % | |||||||||
Risk-free interest rate (1) | 0.74 | % | 0.41 | % | |||||||||
Expected volatility (2) | 27.88 | % | 29.87 | % | |||||||||
Average total shareholder return (2) | (0.90 | )% | 17.87 | % | |||||||||
-1 | The risk-free interest rate for the periods within the contractual term of the PBRSUs 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 Share-based Compensation, Performance Based Restricted Stock Units Award Activity | PBRSU activity for the year ended December 31, 2014 is as follows: | ||||||||||||
(in thousands, except weighted average fair value prices) | Number of Shares | Weighted Average Grant-Date Fair Value | |||||||||||
Unvested PBRSUs outstanding at December 31, 2013 | 1,247 | $ | 18.52 | ||||||||||
PBRSUs granted | 368 | $ | 31.46 | ||||||||||
PBRSUs vested | (612 | ) | $ | 16.92 | |||||||||
PBRSUs forfeited | (99 | ) | $ | 23.52 | |||||||||
Unvested PBRSUs outstanding at December 31, 2014 | 904 | $ | 22.19 | ||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair values of these stock options were estimated using a Black-Scholes model with the following weighted-average assumptions: | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected dividend yield | — | % | — | % | — | % | |||||||
Risk-free interest rate (1) | 1.74 | % | 0.9 | % | 1 | % | |||||||
Expected volatility (2) | 37.92 | % | 41.65 | % | 42.81 | % | |||||||
Expected life (3) | 5.5 | 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 year ended December 31, 2014 is as follows: | ||||||||||||
(in thousands, except weighted average prices) | Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value | |||||||||
Options outstanding at December 31, 2013 | 2,663 | $ | 21.12 | ||||||||||
Options granted | 291 | $ | 31.46 | ||||||||||
Options exercised | (303 | ) | $ | 19.77 | |||||||||
Options canceled | (88 | ) | $ | 25.02 | |||||||||
Options outstanding at December 31, 2014 | 2,563 | $ | 22.32 | 4.9 | $ | 23,903 | |||||||
Options vested and expected to vest at December 31, 2014 | 2,539 | $ | 22.26 | 4.9 | $ | 23,834 | |||||||
Options exercisable at December 31, 2014 | 1,953 | $ | 21.18 | 3.9 | $ | 20,344 | |||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | The following table sets forth the share-based compensation expense recognized for the years ended December 31, 2014, 2013 and 2012. | ||||||||||||
(in thousands) | 2014 | 2013 | 2012 | ||||||||||
Restricted stock units | $ | 19,078 | $ | 12,754 | $ | 9,988 | |||||||
Performance-based restricted stock units | 1,750 | 9,746 | 7,050 | ||||||||||
Stock options | 3,730 | 3,982 | 3,664 | ||||||||||
Employee stock purchase plan | 1,030 | 557 | 107 | ||||||||||
$ | 25,588 | $ | 27,039 | $ | 20,809 | ||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum rental payments under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of December 31, 2014 are as follows: | |||
(in thousands) | ||||
2015 | $ | 32,280 | ||
2016 | 27,795 | |||
2017 | 16,654 | |||
2018 | 12,814 | |||
2019 | 10,910 | |||
Thereafter | 13,483 | |||
$ | 113,936 | |||
Acquisitions_Acquisitions_Tabl
Acquisitions Acquisitions (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Business Combinations [Abstract] | ||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | The unaudited pro forma financial information for the years ended December 31, 2014 and 2013 combines our results of operations for the periods presented. | |||||||
(in thousands) | 2014 | 2013 | ||||||
Net revenues | $ | 1,427,424 | $ | 1,506,660 | ||||
Net income | $ | 82,724 | $ | 103,997 | ||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The preliminary allocation of the purchase price is as follows: | |||||||
(in thousands) | ||||||||
Cash and cash equivalents | $ | 36 | ||||||
Accounts receivable | 9,227 | |||||||
Prepaid expenses and other current assets | 2,190 | |||||||
Deferred income tax assets, current | 6,658 | |||||||
Property and equipment | 177,311 | |||||||
Goodwill (1) | 307,773 | |||||||
Other intangible assets | 129,400 | |||||||
Deferred income tax, net of current | 29,760 | |||||||
Investment in affiliates | 18,300 | |||||||
Total assets acquired | $ | 680,655 | ||||||
Accounts payable and accrued expenses | 3,911 | |||||||
Income taxes payable | 31 | |||||||
Deferred revenue, current | 22,371 | |||||||
Deferred revenue, net of current | 1,823 | |||||||
Net assets acquired | $ | 652,519 | ||||||
-1 | Goodwill of $307.8 million includes $167.8 million of deductible basis for tax purposes. Goodwill was reduced by approximately $55.5 million from the initial amount recorded in the first quarter of 2014, as a result of a change in the purchase price allocation for certain working capital and tax adjustments. |
Discontinued_Operations_Tables
Discontinued Operations (Tables) (Corelogic [Member]) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Corelogic [Member] | |||||||||||||||||||||
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 December 31, 2014, 2013 and 2012: | ||||||||||||||||||||
(in thousands) | D&A | TPS | |||||||||||||||||||
As of December 31, 2014 | Marketing | Consumer | Appraisal | AMPS | Total | ||||||||||||||||
Deferred income tax asset and other current assets | $ | 177 | $ | 149 | $ | 3,808 | $ | 133 | $ | 4,267 | |||||||||||
Total assets | $ | 177 | $ | 149 | $ | 3,808 | $ | 133 | $ | 4,267 | |||||||||||
Total liabilities | $ | 194 | $ | 88 | $ | 10,941 | $ | 2,481 | $ | 13,704 | |||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Accounts receivable | $ | — | $ | — | $ | — | $ | 14,073 | $ | 14,073 | |||||||||||
Other current assets | 177 | 149 | 200 | 2,668 | 3,194 | ||||||||||||||||
Property and equipment, net | — | — | — | 1,698 | 1,698 | ||||||||||||||||
Goodwill and other identifiable intangible assets, net | — | — | — | 19,961 | 19,961 | ||||||||||||||||
Total assets | $ | 177 | $ | 149 | $ | 200 | $ | 38,400 | $ | 38,926 | |||||||||||
Accounts payable | $ | 676 | $ | — | $ | 3,127 | $ | 7,282 | $ | 11,085 | |||||||||||
Other liabilities | 259 | 88 | 568 | 8,616 | 9,531 | ||||||||||||||||
Total liabilities | $ | 935 | $ | 88 | $ | 3,695 | $ | 15,898 | $ | 20,616 | |||||||||||
Summarized below are the components of our (loss)/income from discontinued operations, net of tax for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||||
(in thousands) | D&A | TPS | |||||||||||||||||||
For the Year Ended December 31, 2014 | Marketing | Consumer | Appraisal | AMPS | Total | ||||||||||||||||
Operating revenue | $ | — | $ | — | $ | — | $ | 94,039 | $ | 94,039 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (717 | ) | — | (30,739 | ) | 7,188 | (24,268 | ) | |||||||||||||
(Benefit)/provision for income taxes | (350 | ) | — | (11,785 | ) | 4,520 | (7,615 | ) | |||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (367 | ) | $ | — | $ | (18,954 | ) | $ | 2,668 | $ | (16,653 | ) | ||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||
Operating revenue | $ | — | $ | — | $ | — | $ | 193,117 | $ | 193,117 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (2,129 | ) | 196 | (6,194 | ) | 32,928 | 24,801 | ||||||||||||||
(Benefit)/provision for income taxes | (814 | ) | 75 | (2,369 | ) | 13,486 | 10,378 | ||||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (1,315 | ) | $ | 121 | $ | (3,825 | ) | $ | 19,442 | $ | 14,423 | |||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||
Operating revenue | $ | — | $ | 55,773 | $ | 25,138 | $ | 280,589 | $ | 361,500 | |||||||||||
(Loss)/income from discontinued operations before income taxes | (122 | ) | 5,026 | (21,375 | ) | 42,566 | 26,095 | ||||||||||||||
Provision/(benefit) for income taxes | 4,891 | 15 | (5,186 | ) | 13,988 | 13,708 | |||||||||||||||
(Loss)/income from discontinued operations, net of tax | $ | (5,013 | ) | $ | 5,011 | $ | (16,189 | ) | $ | 28,578 | $ | 12,387 | |||||||||
Segment_Financial_Information_
Segment Financial Information (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | Selected segment financial information is as follows: | |||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
For the Year Ended December 31, 2014 | D&A | TPS | Corporate | Eliminations | Consolidated (Excluding Discontinued Operations) | |||||||||||||||||||
Operating revenue | $ | 647,264 | $ | 767,567 | $ | 30 | $ | (9,821 | ) | $ | 1,405,040 | |||||||||||||
Depreciation and amortization | $ | 98,313 | $ | 26,019 | $ | 14,062 | $ | — | $ | 138,394 | ||||||||||||||
Operating income/(loss) | $ | 97,654 | $ | 139,168 | $ | (67,064 | ) | $ | — | $ | 169,758 | |||||||||||||
Equity in earnings/(loss) of affiliates, net of tax | $ | 49 | $ | 22,900 | $ | (8,829 | ) | $ | — | $ | 14,120 | |||||||||||||
Net income/(loss) from continuing operations | $ | 98,975 | $ | 167,726 | $ | (163,728 | ) | $ | (11,965 | ) | $ | 91,008 | ||||||||||||
Capital expenditures | $ | 56,383 | $ | 8,336 | $ | 22,435 | $ | — | $ | 87,154 | ||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||||||
Operating revenue | $ | 572,169 | $ | 843,887 | $ | 631 | $ | (12,286 | ) | $ | 1,404,401 | |||||||||||||
Depreciation and amortization | $ | 74,186 | $ | 30,780 | $ | 21,366 | $ | — | $ | 126,332 | ||||||||||||||
Operating income/(loss) | $ | 100,963 | $ | 137,225 | $ | (96,046 | ) | $ | — | $ | 142,142 | |||||||||||||
Equity in earnings/(loss) of affiliates, net of tax | $ | 1,631 | $ | 41,638 | $ | (15,908 | ) | $ | — | $ | 27,361 | |||||||||||||
Net income/(loss) from continuing operations | $ | 110,143 | $ | 179,622 | $ | (189,505 | ) | $ | — | $ | 100,260 | |||||||||||||
Capital expenditures | $ | 54,085 | $ | 20,048 | $ | 32,453 | $ | — | $ | 106,586 | ||||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||||||
Operating revenue | $ | 544,753 | $ | 800,890 | $ | 640 | $ | (12,804 | ) | $ | 1,333,479 | |||||||||||||
Depreciation and amortization | $ | 69,567 | $ | 24,161 | $ | 23,515 | $ | (135 | ) | $ | 117,108 | |||||||||||||
Operating income/(loss) | $ | 96,519 | $ | 189,700 | $ | (115,952 | ) | $ | 135 | $ | 170,402 | |||||||||||||
Equity in earnings/(loss) of affiliates, net of tax | $ | 2,197 | $ | 55,570 | $ | (21,784 | ) | $ | — | $ | 35,983 | |||||||||||||
Net income/(loss) from continuing operations | $ | 99,188 | $ | 245,686 | $ | (249,589 | ) | $ | 135 | $ | 95,420 | |||||||||||||
Capital expenditures | $ | 54,147 | $ | 18,738 | $ | 10,849 | $ | — | $ | 83,734 | ||||||||||||||
(in thousands) | ||||||||||||||||||||||||
As of December 31, 2014 | D&A | TPS | Corporate | Eliminations | Consolidated (Excluding Discontinued Operations) | |||||||||||||||||||
Investment in affiliates, net | $ | 27,809 | $ | 68,547 | $ | 7,242 | $ | — | $ | 103,598 | ||||||||||||||
Long-lived assets | $ | 1,739,715 | $ | 1,161,873 | $ | 4,888,730 | $ | (4,774,581 | ) | $ | 3,015,737 | |||||||||||||
Total assets | $ | 1,886,478 | $ | 1,297,903 | $ | 5,102,328 | $ | (4,774,614 | ) | $ | 3,512,095 | |||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Investment in affiliates, net | $ | 9,460 | $ | 78,290 | $ | 7,593 | $ | — | $ | 95,343 | ||||||||||||||
Long-lived assets | $ | 1,176,994 | $ | 1,130,237 | $ | 4,232,718 | $ | (4,098,235 | ) | $ | 2,441,714 | |||||||||||||
Total assets | $ | 1,306,023 | $ | 1,257,195 | $ | 4,499,268 | $ | (4,098,281 | ) | $ | 2,964,205 | |||||||||||||
Operating revenue is attributed to countries based on location of the revenue-generating business. Operating revenue separated between domestic and foreign operations and by segment is as follows: | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Domestic | Foreign | Domestic | Foreign | Domestic | Foreign | |||||||||||||||||||
D&A | $ | 509,521 | $ | 137,743 | $ | 476,048 | $ | 96,121 | $ | 460,401 | $ | 84,352 | ||||||||||||
TPS | 764,251 | 3,316 | 838,721 | 5,166 | 794,584 | 6,306 | ||||||||||||||||||
Corporate | — | 30 | — | 631 | — | 640 | ||||||||||||||||||
Eliminations | (9,821 | ) | — | (12,286 | ) | — | (12,804 | ) | — | |||||||||||||||
Consolidated | $ | 1,263,951 | $ | 141,089 | $ | 1,302,483 | $ | 101,918 | $ | 1,242,181 | $ | 91,298 | ||||||||||||
Long-lived assets separated between domestic and foreign operations and by segment is as follows: | ||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | ||||||||||||||||||||||
Domestic | Foreign | Domestic | Foreign | |||||||||||||||||||||
D&A | $ | 1,429,305 | $ | 310,410 | $ | 856,111 | $ | 320,883 | ||||||||||||||||
TPS | 1,161,853 | 20 | 1,130,234 | 3 | ||||||||||||||||||||
Corporate | 4,142,791 | 745,939 | 3,486,778 | 745,940 | ||||||||||||||||||||
Eliminations | (4,028,642 | ) | (745,939 | ) | (3,352,295 | ) | (745,940 | ) | ||||||||||||||||
Consolidated (excluding assets for discontinued operations) | $ | 2,705,307 | $ | 310,430 | $ | 2,120,828 | $ | 320,886 | ||||||||||||||||
Guarantor_Subsidiaries_Tables
Guarantor Subsidiaries (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Guarantor Subsidiaries [Abstract] | |||||||||||||||||||||
Schedule Of Guarantor Subsidiaries | 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. | ||||||||||||||||||||
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 | |||||||||||
Accounts receivable | — | 189,138 | 25,206 | — | 214,344 | ||||||||||||||||
Other current assets | 55,867 | 120,531 | 5,206 | — | 181,604 | ||||||||||||||||
Property and equipment, net | 17,261 | 325,638 | 25,715 | — | 368,614 | ||||||||||||||||
Goodwill, net | — | 1,612,388 | 168,370 | — | 1,780,758 | ||||||||||||||||
Other intangible assets, net | 290 | 242,170 | 35,810 | — | 278,270 | ||||||||||||||||
Capitalized data and database cost, net | — | 254,236 | 79,029 | — | 333,265 | ||||||||||||||||
Investment in affiliates, net | — | 103,598 | — | — | 103,598 | ||||||||||||||||
Deferred income tax assets, long-term | 49,365 | — | — | (49,365 | ) | — | |||||||||||||||
Restricted cash | 11,035 | — | 1,325 | — | 12,360 | ||||||||||||||||
Investment in subsidiaries | 2,350,467 | — | — | (2,350,467 | ) | — | |||||||||||||||
Intercompany receivable | 89,780 | 158,939 | — | (248,719 | ) | — | |||||||||||||||
Other assets | 105,262 | 31,925 | 1,685 | — | 138,872 | ||||||||||||||||
Total assets | $ | 2,740,929 | $ | 3,047,296 | $ | 376,688 | $ | (2,648,551 | ) | $ | 3,516,362 | ||||||||||
Liabilities and equity: | |||||||||||||||||||||
Current liabilities | $ | 123,196 | $ | 389,170 | $ | 38,224 | $ | — | $ | 550,590 | |||||||||||
Long-term debt, net of current | 1,313,270 | 5,941 | — | — | 1,319,211 | ||||||||||||||||
Deferred revenue, net of current | — | 389,302 | 6 | — | 389,308 | ||||||||||||||||
Deferred income tax liabilities, long term | — | 91,197 | 22,147 | (49,365 | ) | 63,979 | |||||||||||||||
Intercompany payable | 158,939 | 22,325 | 67,455 | (248,719 | ) | — | |||||||||||||||
Other liabilities | 131,357 | 27,930 | 1,797 | — | 161,084 | ||||||||||||||||
Redeemable noncontrolling interest | — | — | 18,023 | — | 18,023 | ||||||||||||||||
Total CoreLogic stockholders' equity | 1,014,167 | 2,121,431 | 229,036 | (2,350,467 | ) | 1,014,167 | |||||||||||||||
Total liabilities and equity | $ | 2,740,929 | $ | 3,047,296 | $ | 376,688 | $ | (2,648,551 | ) | $ | 3,516,362 | ||||||||||
Condensed 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 | |||||||||||
Accounts receivable | — | 193,256 | 21,764 | — | 215,020 | ||||||||||||||||
Other current assets | 56,877 | 151,066 | 4,228 | (193 | ) | 211,978 | |||||||||||||||
Property and equipment, net | 20,076 | 149,848 | 27,618 | — | 197,542 | ||||||||||||||||
Goodwill, net | — | 1,306,471 | 161,819 | — | 1,468,290 | ||||||||||||||||
Other intangible assets, net | 348 | 135,326 | 40,134 | — | 175,808 | ||||||||||||||||
Capitalized data and database cost, net | — | 249,472 | 80,716 | — | 330,188 | ||||||||||||||||
Investment 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 | 2,210,416 | — | — | (2,210,416 | ) | — | |||||||||||||||
Intercompany receivable | 63,647 | 554,894 | 9,170 | (627,711 | ) | — | |||||||||||||||
Other assets | 118,709 | 41,680 | 2,104 | — | 162,493 | ||||||||||||||||
Total assets | $ | 2,643,716 | $ | 2,877,662 | $ | 379,071 | $ | (2,897,318 | ) | $ | 3,003,131 | ||||||||||
Liabilities and equity: | |||||||||||||||||||||
Current liabilities | $ | 107,340 | $ | 393,738 | $ | 33,206 | $ | (193 | ) | $ | 534,091 | ||||||||||
Long-term debt, net of current | 806,395 | 5,381 | — | — | 811,776 | ||||||||||||||||
Deferred revenue, net of current | — | 377,846 | 9 | — | 377,855 | ||||||||||||||||
Deferred income taxes liabilities, long term | — | 111,664 | 24,303 | (58,998 | ) | 76,969 | |||||||||||||||
Intercompany payable | 564,064 | — | 63,647 | (627,711 | ) | — | |||||||||||||||
Other liabilities | 121,544 | 23,050 | 3,271 | — | 147,865 | ||||||||||||||||
Redeemable noncontrolling interest | — | — | 10,202 | — | 10,202 | ||||||||||||||||
Total CoreLogic stockholders' equity | 1,044,373 | 1,965,983 | 244,433 | (2,210,416 | ) | 1,044,373 | |||||||||||||||
Total liabilities and equity | $ | 2,643,716 | $ | 2,877,662 | $ | 379,071 | $ | (2,897,318 | ) | $ | 3,003,131 | ||||||||||
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 | |||||||||||
Intercompany revenue | — | — | 637 | (637 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 686,630 | 53,696 | (25 | ) | 740,301 | |||||||||||||||
Selling, general and administrative expenses | 58,176 | 252,879 | 41,174 | (612 | ) | 351,617 | |||||||||||||||
Depreciation and amortization | 4,836 | 107,002 | 26,556 | — | 138,394 | ||||||||||||||||
Impairment loss | — | 4,970 | — | — | 4,970 | ||||||||||||||||
Operating (loss)/income | (63,012 | ) | 212,499 | 20,271 | — | 169,758 | |||||||||||||||
Total interest expense, net | (65,299 | ) | (627 | ) | (1,056 | ) | — | (66,982 | ) | ||||||||||||
Gain on investments and other, net | 5,070 | (6,278 | ) | 5,090 | — | 3,882 | |||||||||||||||
(Benefit)/Provision for income taxes | (43,448 | ) | 73,179 | 39 | — | 29,770 | |||||||||||||||
Equity in earnings of affiliates, net of tax | — | 14,120 | — | — | 14,120 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 152,993 | — | — | (152,993 | ) | — | |||||||||||||||
Net income/(loss) from continuing operations | 73,200 | 146,535 | 24,266 | (152,993 | ) | 91,008 | |||||||||||||||
Loss from discontinued operations, net of tax | — | (16,653 | ) | — | — | (16,653 | ) | ||||||||||||||
(Loss)/gain from sale of discontinued operations, net of tax | — | (1,424 | ) | 1,536 | — | 112 | |||||||||||||||
Net income/(loss) | 73,200 | 128,458 | 25,802 | (152,993 | ) | 74,467 | |||||||||||||||
Less: Net loss attributable to noncontrolling interests | — | — | 1,267 | — | 1,267 | ||||||||||||||||
Net income/(loss) attributable to CoreLogic | $ | 73,200 | $ | 128,458 | $ | 24,535 | $ | (152,993 | ) | $ | 73,200 | ||||||||||
Net income | $ | 73,200 | $ | 128,458 | $ | 25,802 | $ | (152,993 | ) | $ | 74,467 | ||||||||||
Total other comprehensive (loss)/income | (30,197 | ) | — | (26,673 | ) | 26,673 | (30,197 | ) | |||||||||||||
Less: Comprehensive loss attributable to noncontrolling interests | — | — | 1,267 | — | 1,267 | ||||||||||||||||
Comprehensive income/(loss) attributable to CoreLogic | $ | 43,003 | $ | 128,458 | $ | (2,138 | ) | $ | (126,320 | ) | $ | 43,003 | |||||||||
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 | |||||||||||
Intercompany revenue | — | — | 631 | (631 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 679,032 | 38,804 | (631 | ) | 717,205 | |||||||||||||||
Selling, general and administrative expenses | 63,205 | 276,236 | 34,848 | — | 374,289 | ||||||||||||||||
Depreciation and amortization | 3,767 | 98,670 | 23,895 | — | 126,332 | ||||||||||||||||
Impairment loss | — | 44,433 | — | — | 44,433 | ||||||||||||||||
Operating (loss)/income | (66,972 | ) | 204,744 | 4,370 | — | 142,142 | |||||||||||||||
Total interest expense, net | (45,270 | ) | (2 | ) | (2,330 | ) | — | (47,602 | ) | ||||||||||||
Gain on investments and other, net | 3,785 | 1,250 | 6,997 | — | 12,032 | ||||||||||||||||
(Benefit)/provision for income taxes | (40,392 | ) | 72,385 | 1,680 | — | 33,673 | |||||||||||||||
Equity in earnings of affiliates, net of tax | — | 26,566 | 795 | — | 27,361 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 175,793 | — | — | (175,793 | ) | — | |||||||||||||||
Net income from continuing operations | 107,728 | 160,173 | 8,152 | (175,793 | ) | 100,260 | |||||||||||||||
Income/(loss) from discontinued operations, net of tax | — | 14,595 | (172 | ) | — | 14,423 | |||||||||||||||
(Loss)/gain on sale of discontinued operations, net of tax | — | (8,514 | ) | 1,506 | — | (7,008 | ) | ||||||||||||||
Net income | 107,728 | 166,254 | 9,486 | (175,793 | ) | 107,675 | |||||||||||||||
Less: Net loss attributable to noncontrolling interests | — | — | (53 | ) | — | (53 | ) | ||||||||||||||
Net income attributable to CoreLogic | $ | 107,728 | $ | 166,254 | $ | 9,539 | $ | (175,793 | ) | $ | 107,728 | ||||||||||
Net income | $ | 107,728 | $ | 166,254 | $ | 9,486 | $ | (175,793 | ) | $ | 107,675 | ||||||||||
Total other comprehensive loss | (38,075 | ) | — | (43,337 | ) | 43,337 | (38,075 | ) | |||||||||||||
Less: Comprehensive loss attributable to noncontrolling interests | — | — | (53 | ) | — | (53 | ) | ||||||||||||||
Comprehensive income/(loss) attributable to CoreLogic | $ | 69,653 | $ | 166,254 | $ | (33,798 | ) | $ | (132,456 | ) | $ | 69,653 | |||||||||
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 | |||||||||||
Intercompany revenue | — | — | 1,955 | (1,955 | ) | — | |||||||||||||||
Cost of services (exclusive of depreciation and amortization below) | — | 636,707 | 34,732 | (1,955 | ) | 669,484 | |||||||||||||||
Selling, general and administrative expenses | 65,637 | 257,650 | 33,318 | — | 356,605 | ||||||||||||||||
Depreciation and amortization | 2,937 | 91,173 | 22,998 | — | 117,108 | ||||||||||||||||
Impairment loss | — | 19,880 | — | — | 19,880 | ||||||||||||||||
Operating (loss)/income | (68,574 | ) | 238,726 | 250 | — | 170,402 | |||||||||||||||
Total interest (expense)/income, net | (50,222 | ) | 88 | (2,339 | ) | — | (52,473 | ) | |||||||||||||
Gain on investments and other, net | 3,492 | 1,504 | — | — | 4,996 | ||||||||||||||||
(Benefit)/provision for income taxes | (44,908 | ) | 102,058 | 6,338 | — | 63,488 | |||||||||||||||
Equity in earnings of affiliates, net of tax | — | 35,153 | 830 | — | 35,983 | ||||||||||||||||
Equity in earnings of subsidiary, net of tax | 182,689 | — | — | (182,689 | ) | — | |||||||||||||||
Net income/(loss) from continuing operations | 112,293 | 173,413 | (7,597 | ) | (182,689 | ) | 95,420 | ||||||||||||||
Income/(loss) from discontinued operations, net of tax | — | 15,298 | (2,911 | ) | — | 12,387 | |||||||||||||||
Loss from sale of discontinued operations, net of tax | — | 3,841 | — | — | 3,841 | ||||||||||||||||
Net income/(loss) | 112,293 | 192,552 | (10,508 | ) | (182,689 | ) | 111,648 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | — | — | (645 | ) | — | (645 | ) | ||||||||||||||
Net income/(loss) attributable to CoreLogic | $ | 112,293 | $ | 192,552 | $ | (9,863 | ) | $ | (182,689 | ) | $ | 112,293 | |||||||||
Net income/(loss) | $ | 112,293 | $ | 192,552 | $ | (10,508 | ) | $ | (182,689 | ) | $ | 111,648 | |||||||||
Total other comprehensive income | 4,802 | — | 5,921 | (5,921 | ) | 4,802 | |||||||||||||||
Less: Comprehensive loss attributable to noncontrolling interests | — | — | (645 | ) | — | (645 | ) | ||||||||||||||
Comprehensive income/(loss) attributable to CoreLogic | $ | 117,095 | $ | 192,552 | $ | (3,942 | ) | $ | (188,610 | ) | $ | 117,095 | |||||||||
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 | |||||||||||
Net cash used in operating activities - discontinued operations | — | (13,717 | ) | — | — | (13,717 | ) | ||||||||||||||
Total cash provided by operating activities | $ | 9,433 | $ | 269,599 | $ | 42,844 | $ | — | $ | 321,876 | |||||||||||
Cash flow from investing activities: | |||||||||||||||||||||
Purchases of property and equipment | $ | (1,964 | ) | $ | (40,598 | ) | $ | (9,463 | ) | $ | — | $ | (52,025 | ) | |||||||
Purchases of capitalized data and other intangible assets | — | (30,077 | ) | (5,052 | ) | — | (35,129 | ) | |||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (665,753 | ) | (29,118 | ) | — | (694,871 | ) | |||||||||||||
Cash received from sale of subsidiary, net | — | 25,366 | — | — | 25,366 | ||||||||||||||||
Proceeds from sale of property and equipment | — | 13,937 | — | — | 13,937 | ||||||||||||||||
Change in restricted cash | (700 | ) | 306 | 84 | — | (310 | ) | ||||||||||||||
Net cash used in investing activities - continuing operations | (2,664 | ) | (696,819 | ) | (43,549 | ) | — | (743,032 | ) | ||||||||||||
Net cash provided by investing activities - continuing operations | — | — | 1,536 | — | 1,536 | ||||||||||||||||
Total cash used in by investing activities | $ | (2,664 | ) | $ | (696,819 | ) | $ | (42,013 | ) | $ | — | $ | (741,496 | ) | |||||||
Cash flow from financing activities: | |||||||||||||||||||||
Proceeds from long-term debt | $ | 690,017 | $ | — | $ | — | $ | — | $ | 690,017 | |||||||||||
Debt issuance costs | (14,042 | ) | — | — | — | (14,042 | ) | ||||||||||||||
Repayments of long-term debt | (195,217 | ) | (4,789 | ) | — | — | (200,006 | ) | |||||||||||||
Shares repurchased and retired | (91,475 | ) | — | — | — | (91,475 | ) | ||||||||||||||
Proceeds from issuance of stock related to stock options and employee benefit plans | 15,213 | — | — | — | 15,213 | ||||||||||||||||
Minimum tax withholding paid on behalf of employees for restricted stock units | (15,980 | ) | — | — | — | (15,980 | ) | ||||||||||||||
Tax benefit related to stock options | 6,791 | — | — | — | 6,791 | ||||||||||||||||
Intercompany loan payments | (610,239 | ) | (179,187 | ) | — | 789,426 | — | ||||||||||||||
Intercompany loan proceeds | 179,187 | 606,212 | 4,027 | (789,426 | ) | — | |||||||||||||||
Net cash (used in)/provided by financing activities - continuing operations | (35,745 | ) | 422,236 | 4,027 | — | 390,518 | |||||||||||||||
Net cash provided by financing activities - discontinued operations | — | — | — | — | — | ||||||||||||||||
Total cash (used in)/provided by financing activities | $ | (35,745 | ) | $ | 422,236 | $ | 4,027 | $ | — | $ | 390,518 | ||||||||||
Effect of Exchange Rate on cash | — | — | (625 | ) | — | (625 | ) | ||||||||||||||
Net decrease in cash and cash equivalents | $ | (28,976 | ) | $ | (4,984 | ) | $ | 4,233 | $ | — | $ | (29,727 | ) | ||||||||
Cash and cash equivalents at beginning of period | 104,310 | — | 30,109 | — | 134,419 | ||||||||||||||||
Less: Change in cash and cash equivalents - discontinued operations | — | (13,717 | ) | 1,536 | — | (12,181 | ) | ||||||||||||||
Plus: Cash swept (to)/from discontinued operations | (13,732 | ) | — | 1,536 | — | (12,196 | ) | ||||||||||||||
Cash and cash equivalents at end of year | $ | 61,602 | $ | 8,733 | $ | 34,342 | $ | — | $ | 104,677 | |||||||||||
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 | ||||||||||
Net cash provided by operating activities - discontinued operations | — | 24,094 | 1,506 | — | 25,600 | ||||||||||||||||
Total cash (used in)/provided by operating activities | $ | (51,864 | ) | $ | 378,098 | $ | 27,586 | $ | — | $ | 353,820 | ||||||||||
Cash flow from investing activities: | |||||||||||||||||||||
Purchases of property and equipment | $ | (8,870 | ) | $ | (51,660 | ) | $ | (8,215 | ) | $ | — | $ | (68,745 | ) | |||||||
Purchases of capitalized data and other intangible assets | (348 | ) | (23,171 | ) | (14,322 | ) | — | (37,841 | ) | ||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (92,591 | ) | 542 | — | (92,049 | ) | ||||||||||||||
Cash received from sale of discontinued operations | — | 2,263 | — | — | 2,263 | ||||||||||||||||
Purchases of investments | — | (2,351 | ) | — | — | (2,351 | ) | ||||||||||||||
Change in restricted cash | 7,964 | — | 2,104 | — | 10,068 | ||||||||||||||||
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 | ||||||||||||||||
Total cash used in investing activities | $ | (1,254 | ) | $ | (165,648 | ) | $ | (19,891 | ) | $ | — | $ | (186,793 | ) | |||||||
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 | |||||||||||
Unaudited_Quarterly_Financial_1
Unaudited Quarterly Financial Data (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||
Schedule of Quarterly Financial Information | The following table sets forth certain unaudited consolidated quarterly financial data for years ended 2014 and 2013: | |||||||||||||||
For the Quarters Ended | ||||||||||||||||
(in thousands, except per share amounts) | 3/31/14 | 6/30/14 | 9/30/14 | 12/31/14 | ||||||||||||
Operating revenue | $ | 326,104 | $ | 365,970 | $ | 367,454 | $ | 345,512 | ||||||||
Operating income | $ | 14,825 | $ | 41,020 | $ | 77,755 | $ | 36,158 | ||||||||
Equity in earnings of affiliates, net of tax | $ | 2,382 | $ | 3,875 | $ | 4,032 | $ | 3,831 | ||||||||
Amounts attributable to CoreLogic: | ||||||||||||||||
(Loss)/income from continuing operations, net of tax | $ | (3,179 | ) | $ | 26,740 | $ | 49,719 | $ | 16,461 | |||||||
Income/(loss) from discontinued operations, net of tax | 387 | (10,752 | ) | (4,856 | ) | (1,432 | ) | |||||||||
Income/(loss) from sale of discontinued operations, net of tax | — | — | 476 | (364 | ) | |||||||||||
Net (loss)/income attributable to CoreLogic stockholders | $ | (2,792 | ) | $ | 15,988 | $ | 45,339 | $ | 14,665 | |||||||
Basic income/(loss) per share: | ||||||||||||||||
(Loss)/income from continuing operations, net of tax | $ | (0.03 | ) | $ | 0.29 | $ | 0.55 | $ | 0.18 | |||||||
Income/(loss) from discontinued operations, net of tax | — | (0.12 | ) | (0.05 | ) | (0.02 | ) | |||||||||
Income/(loss) from sale of discontinued operations, net of tax | — | — | 0.01 | — | ||||||||||||
Net income | $ | (0.03 | ) | $ | 0.17 | $ | 0.51 | $ | 0.16 | |||||||
Diluted income/(loss) per share: | ||||||||||||||||
(Loss)/income from continuing operations, net of tax | $ | (0.03 | ) | $ | 0.29 | $ | 0.54 | $ | 0.18 | |||||||
Income/(loss) from discontinued operations, net of tax | — | (0.12 | ) | (0.05 | ) | (0.02 | ) | |||||||||
Income/(loss) from sale of discontinued operations, net of tax | — | — | 0.01 | — | ||||||||||||
Net income | $ | (0.03 | ) | $ | 0.17 | $ | 0.5 | $ | 0.16 | |||||||
Weighted-average common shares outstanding: | ||||||||||||||||
Basic | 91,433 | 91,750 | 90,518 | 89,597 | ||||||||||||
Diluted | 91,433 | 93,062 | 91,987 | 91,245 | ||||||||||||
For the Quarters Ended | ||||||||||||||||
(in thousands, except per share amounts) | 3/31/13 | 6/30/13 | 9/30/13 | 12/31/13 | ||||||||||||
Operating revenue | $ | 350,861 | $ | 368,437 | $ | 356,581 | $ | 328,522 | ||||||||
Operating income/(loss) | $ | 47,065 | $ | 52,980 | $ | 61,361 | $ | (19,264 | ) | |||||||
Equity in earnings of affiliates, net of tax | $ | 8,788 | $ | 9,347 | $ | 5,716 | $ | 3,510 | ||||||||
Amounts attributable to CoreLogic: | ||||||||||||||||
Income/(loss) from continuing operations, net of tax | $ | 30,907 | $ | 35,352 | $ | 43,382 | $ | (9,328 | ) | |||||||
Income/(loss) from discontinued operations, net of tax | 4,405 | 8,198 | 5,332 | (3,512 | ) | |||||||||||
Loss on sale of discontinued operations, net of tax | (1,744 | ) | — | (5,052 | ) | (212 | ) | |||||||||
Net income | $ | 33,568 | $ | 43,550 | $ | 43,662 | $ | (13,052 | ) | |||||||
Basic income/(loss) per share: | ||||||||||||||||
Income/(loss) from continuing operations, net of tax | $ | 0.32 | $ | 0.37 | $ | 0.46 | $ | (0.10 | ) | |||||||
Income/(loss) from discontinued operations, net of tax | 0.05 | 0.09 | 0.06 | (0.04 | ) | |||||||||||
Loss on sale of discontinued operations, net of tax | (0.02 | ) | — | (0.05 | ) | — | ||||||||||
Net income | $ | 0.35 | $ | 0.46 | $ | 0.47 | $ | (0.14 | ) | |||||||
Diluted income/(loss) per share: | ||||||||||||||||
Income/(loss) from continuing operations, net of tax | $ | 0.31 | $ | 0.36 | $ | 0.45 | $ | (0.10 | ) | |||||||
Income/(loss) from discontinued operations, net of tax | 0.04 | 0.08 | 0.06 | (0.04 | ) | |||||||||||
Loss on sale of discontinued operations, net of tax | (0.02 | ) | — | (0.05 | ) | — | ||||||||||
Net income | $ | 0.33 | $ | 0.44 | $ | 0.46 | $ | (0.14 | ) | |||||||
Weighted-average common shares outstanding: | ||||||||||||||||
Basic | 97,113 | 95,516 | 94,773 | 92,946 | ||||||||||||
Diluted | 99,056 | 97,180 | 96,793 | 92,946 | ||||||||||||
Description_of_the_Company_Det
Description of the Company (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | 26-May-10 | |
Goodwill, Impairment Loss | $3,900,000 | ||
Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
Collateral and Filed [Domain] | |||
Business Combination, Consideration Transferred | 29,100,000 | ||
FAFC [Member] | |||
Common stock, par value (in dollars per share) | $1 | ||
Earn-out [Member] | Collateral and Filed [Domain] | |||
Business Combination, Consideration Transferred | 20,000,000 | ||
Technology and Processing Solutions [Member] | |||
Goodwill, Impairment Loss | $3,900,000 | $42,216,000 |
Description_of_the_Company_Rec
Description of the Company (Reclassification Table) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Reclassification [Line Items] | |||||||||||
Net income/(loss) from continuing operations | $91,008 | $100,260 | $95,420 | ||||||||
Income (Loss) from Continuing Operations, Per Basic Share | $0.18 | $0.55 | $0.29 | ($0.03) | ($0.10) | $0.46 | $0.37 | $0.32 | $0.99 | $1.05 | $0.93 |
Income (Loss) from Continuing Operations, Per Diluted Share | $0.18 | $0.54 | $0.29 | ($0.03) | ($0.10) | $0.45 | $0.36 | $0.31 | $0.97 | $1.03 | $0.92 |
S&S [Member] | Reclassification [Member] | |||||||||||
Reclassification [Line Items] | |||||||||||
Revenues | 66,560 | 73,775 | |||||||||
Net income/(loss) from continuing operations | $4,584 | ($19,022) | |||||||||
Income (Loss) from Continuing Operations, Per Basic Share | $0.05 | ($0.20) | |||||||||
Income (Loss) from Continuing Operations, Per Diluted Share | $0.05 | ($0.20) |
Significant_Accounting_Policie3
Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Significant Accounting Policies [Line Items] | |||||||||||
Goodwill, Impairment Loss | $3,900,000 | ||||||||||
Earnings Per Share, Diluted | $0.16 | $0.50 | $0.17 | ($0.03) | ($0.14) | $0.46 | $0.44 | $0.33 | $0.79 | $1.11 | $1.08 |
Marketable securities | 22,264,000 | 22,220,000 | 22,264,000 | 22,220,000 | |||||||
Capitalized data and database costs carrying value | 550,705,000 | 518,966,000 | 550,705,000 | 518,966,000 | |||||||
Subscription-based Revenues Contractual Term In Years | 10 years | ||||||||||
Employee Stock Purchase Plan Percent of Stock Price At Closing Date | 85.00% | 85.00% | |||||||||
Escrow Deposit | 265,600,000 | 317,200,000 | 265,600,000 | 317,200,000 | |||||||
Reserves Incorrect Disposition Of Assets | 20,200,000 | 21,400,000 | 20,200,000 | 21,400,000 | |||||||
Flood [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Capitalized data and database costs carrying value | 55,416,000 | 55,416,000 | 55,416,000 | 55,416,000 | |||||||
Maximum [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Useful life of other intangible assets, minimum (in years) | 20 years | ||||||||||
Escrow Deposits, Period Held | 5 years | ||||||||||
Maximum [Member] | Buildings [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Property and equipment, estimated useful lives, minimum (in years) | 40 years | ||||||||||
Maximum [Member] | Furniture and Equipment [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Property and equipment, estimated useful lives, minimum (in years) | 10 years | ||||||||||
Maximum [Member] | Capitalized software [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Property and equipment, estimated useful lives, minimum (in years) | 10 years | ||||||||||
Maximum [Member] | Database Development Costs [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Property and equipment, estimated useful lives, minimum (in years) | 20 years | ||||||||||
Minimum [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Useful life of other intangible assets, minimum (in years) | 2 years | ||||||||||
Escrow Deposits, Period Held | 2 years | ||||||||||
Minimum [Member] | Buildings [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Property and equipment, estimated useful lives, minimum (in years) | 25 years | ||||||||||
Minimum [Member] | Furniture and Equipment [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Property and equipment, estimated useful lives, minimum (in years) | 3 years | ||||||||||
Minimum [Member] | Capitalized software [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Property and equipment, estimated useful lives, minimum (in years) | 3 years | ||||||||||
Minimum [Member] | Database Development Costs [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Property and equipment, estimated useful lives, minimum (in years) | 5 years | ||||||||||
Restatement Adjustment [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Earnings Per Share, Diluted | $0.04 | ||||||||||
Discontinued Operations [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Goodwill, Impairment Loss | 9,600,000 | ||||||||||
Technology and Processing Solutions [Member] | |||||||||||
Significant Accounting Policies [Line Items] | |||||||||||
Goodwill, Impairment Loss | 3,900,000 | 42,216,000 | |||||||||
Goodwill, Impairment Loss, Net of Tax | $3,300,000 |
Significant_Accounting_Policie4
Significant Accounting Policies (table) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Significant Accounting Policies (Table) [Abstract] | ||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | ($77,460) | ($50,787) |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -4,266 | -568 |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | -2,335 | -2,482 |
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 275 | 248 |
Accumulated other comprehensive loss | ($83,786) | ($53,589) |
Property_and_Equipment_Net_Det
Property and Equipment, Net (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $68,300,000 | $60,800,000 | $62,400,000 |
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | 1,700,000 | ||
Gain (Loss) on Disposition of Property Plant Equipment | $13,866,000 | $0 | ($951,000) |
Recovered_Sheet1
Property and Equipment, net (Table) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $827,110 | $654,091 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | -458,496 | -456,549 |
Property and equipment, net | 368,614 | 197,542 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 4,000 | 4,000 |
Buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 230 | 10,780 |
Furniture and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 91,397 | 90,420 |
Software and Software Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 701,482 | 498,522 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $30,001 | $50,369 |
Capitalized_Data_and_Database_2
Capitalized Data and Database Development Costs, Net (Table) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Capitalized Costs and Database Development [Line Items] | ||
Capitalized Data And Development Costs Accumulated Amortization | ($217,440) | ($188,778) |
Capitalized Data And Database Development Costs Gross | 550,705 | 518,966 |
Capitalized data and database cost, net | 333,265 | 330,188 |
Property Data [Member] | ||
Capitalized Costs and Database Development [Line Items] | ||
Capitalized Data And Database Development Costs Gross | 477,221 | 446,991 |
Flood [Member] | ||
Capitalized Costs and Database Development [Line Items] | ||
Capitalized Data And Database Development Costs Gross | 55,416 | 55,416 |
Eviction Data [Member] | ||
Capitalized Costs and Database Development [Line Items] | ||
Capitalized Data And Database Development Costs Gross | $18,068 | $16,559 |
Capitalized_Data_and_Database_3
Capitalized Data and Database Development Costs, Net (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Capitalized Data and Database Costs, Net [Abstract] | |||
Amortization | $32.60 | $30.10 | $27.30 |
Investment_in_Affiliates_Net_D
Investment in Affiliates, Net (Details) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 01, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | Joint Venture Loan Originations Products and Services [Member] | Joint Venture Loan Originations Products and Services [Member] | Joint Venture Loan Originations Products and Services [Member] | Lone Wolf Real Estate Technologies, Inc. [Member] | Lone Wolf Real Estate Technologies, Inc. [Member] | Symbility [Member] | |
USD ($) | NZD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||
Schedule of Investments [Line Items] | ||||||||||||||||||||||
Income Tax Of Equity In Earnings Of Affiliates | ($8,900,000) | ($16,500,000) | ($22,100,000) | |||||||||||||||||||
Dividends received from investments in affiliates | 38,655,000 | 36,680,000 | 70,666,000 | |||||||||||||||||||
Equity Method Investment, Ownership Percentage | 29.40% | 29.40% | 50.10% | 29.80% | ||||||||||||||||||
Joint Venture Investment Percentage Of Income In Equity Earnings Of Affiliates, Net Of Tax | 80.00% | 70.70% | 73.80% | |||||||||||||||||||
Investment in affiliates, net | 103,598,000 | 95,343,000 | 103,598,000 | 95,343,000 | 18,300,000 | |||||||||||||||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | 11,300,000 | |||||||||||||||||||||
Goodwill | 1,780,758,000 | 1,468,290,000 | 1,780,758,000 | 1,468,290,000 | 1,354,823,000 | 2,000,000 | ||||||||||||||||
Other intangible assets, net | 278,270,000 | 175,808,000 | 278,270,000 | 175,808,000 | 9,400,000 | |||||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years | 15 years | ||||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 10.00% | |||||||||||||||||||||
Payments to Acquire Businesses, Gross | 2,600,000 | 3,300,000 | ||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | 60.00% | 100.00% | 60.00% | ||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | 6,600,000 | |||||||||||||||||||||
Proceeds from Sale of Equity Method Investments | 8,000,000 | |||||||||||||||||||||
Equity Method Investment, Realized Gain (Loss) on Disposal | 2,200,000 | |||||||||||||||||||||
Operating revenue | $345,512,000 | $367,454,000 | $365,970,000 | $326,104,000 | $328,522,000 | $356,581,000 | $368,437,000 | $350,861,000 | $1,405,040,000 | $1,404,401,000 | $1,333,479,000 | $6,400,000 | $8,700,000 | $14,200,000 |
Investment_in_Affiliates_net_S
Investment in Affiliates, net (Summarized Financial Information Table) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Summarized Financial Information, Assets | $44,536 | $56,925 | |
Equity Method Investment, Summarized Financial Information, Income (Loss) from Continuing Operations before Extraordinary Items | 37,567 | 64,384 | 81,343 |
Equity Method Investment, Summarized Financial Information, Liabilities | 15,977 | 28,562 | |
Joint Venture Loan Originations Products and Services [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Summarized Financial Information, Revenue | 221,328 | 347,070 | 451,876 |
Equity Method Investment Summarized Financial Information Expenses | 183,761 | 282,686 | 370,533 |
Income Loss From Equity Method Investments Gross | 18,821 | 32,256 | 44,285 |
Equity Method Investment Summarized Financial Information Income from Discontinued Operations, net of Tax | 0 | 0 | 7,050 |
Equity Method Investment, Summarized Financial Information, Net Income (Loss) | $37,567 | $64,384 | $88,393 |
Goodwill_Details
Goodwill (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | |||
Goodwill, Gross | $1,362,348 | ||
Goodwill, Impaired, Accumulated Impairment Loss | -7,525 | ||
Goodwill | 1,780,758 | 1,468,290 | 1,354,823 |
Goodwill, Acquired During Period | 324,941 | 55,788 | |
Goodwill, Translation Adjustments | -12,830 | -20,262 | |
Goodwill, Spacial Reclassification | 0 | ||
Goodwill, Transfers | 77,616 | ||
Goodwill, Other Changes | 4,257 | 325 | |
Goodwill, Impairment Loss | -3,900 | ||
Data and Analytics [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Gross | 708,577 | ||
Goodwill, Impaired, Accumulated Impairment Loss | -600 | ||
Goodwill | 957,329 | 688,842 | 707,977 |
Goodwill, Acquired During Period | 285,801 | 26,846 | |
Goodwill, Translation Adjustments | -12,527 | -20,262 | |
Goodwill, Spacial Reclassification | -26,044 | ||
Goodwill, Other Changes | 4,257 | 325 | |
Goodwill, Impairment Loss | 0 | ||
Technology and Processing Solutions [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Gross | 653,771 | ||
Goodwill, Impaired, Accumulated Impairment Loss | -6,925 | ||
Goodwill | 823,429 | 701,832 | 646,846 |
Goodwill, Acquired During Period | 39,140 | 28,942 | |
Goodwill, Translation Adjustments | -303 | 0 | |
Goodwill, Spacial Reclassification | 26,044 | ||
Goodwill, Other Changes | 0 | 0 | |
Goodwill, Impairment Loss | -3,900 | -42,216 | |
Total [Member] | |||
Goodwill [Line Items] | |||
Goodwill | 1,390,674 | ||
Teletrack [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Transfers | 0 | ||
Teletrack [Member] | Data and Analytics [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Transfers | -9,044 | ||
Teletrack [Member] | Technology and Processing Solutions [Member] | |||
Goodwill [Line Items] | |||
Goodwill | 8,700 | 9,000 | |
Goodwill, Transfers | 9,044 | ||
S&S [Member] | Technology and Processing Solutions [Member] | |||
Goodwill [Line Items] | |||
Goodwill | 73,700 | ||
S&S [Member] | Reclassification [Member] | Data and Analytics [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Transfers | 0 | ||
S&S [Member] | Reclassification [Member] | Technology and Processing Solutions [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Transfers | $77,616 |
Goodwill_Net_Goodwill_Net_Deta
Goodwill, Net Goodwill, Net (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Goodwill [Line Items] | ||||
Disposal Group, Including Discontinued Operation, Goodwill | $20,000,000 | $20,000,000 | ||
Goodwill, Impairment Loss | 3,900,000 | |||
Goodwill | 1,780,758,000 | 1,468,290,000 | 1,468,290,000 | 1,354,823,000 |
Goodwill, Acquired During Period | 324,941,000 | 55,788,000 | ||
Minimum [Member] | ||||
Goodwill [Line Items] | ||||
Discount Rate Used In Weighted Average Cost of Capital Calculation | 9.00% | |||
Maximum [Member] | ||||
Goodwill [Line Items] | ||||
Discount Rate Used In Weighted Average Cost of Capital Calculation | 9.50% | |||
Technology and Processing Solutions [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Impairment Loss | 3,900,000 | 42,216,000 | ||
Goodwill | 823,429,000 | 701,832,000 | 701,832,000 | 646,846,000 |
Goodwill, Acquired During Period | 39,140,000 | 28,942,000 | ||
Goodwill, Impairment Loss, Net of Tax | 3,300,000 | |||
Data and Analytics [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Impairment Loss | 0 | |||
Goodwill | 957,329,000 | 688,842,000 | 688,842,000 | 707,977,000 |
Goodwill, Acquired During Period | 285,801,000 | 26,846,000 | ||
Discontinued Operations [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Impairment Loss | 9,600,000 | |||
PIQ Acquisition [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 14,900,000 | |||
BofA's credit services [Member] | Technology and Processing Solutions [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 9,200,000 | |||
BofA Flood and Tax Servicing [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 28,900,000 | |||
EQECAT Acquisition [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 16,900,000 | |||
EQECAT Acquisition [Member] | Data and Analytics [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 12,700,000 | |||
MSB/DQ Member [Domain] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 307,773,000 | |||
MSB/DQ Member [Domain] | Technology and Processing Solutions [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 29,900,000 | |||
MSB/DQ Member [Domain] | Data and Analytics [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 277,800,000 | |||
Terralink [Domain] | Data and Analytics [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 2,300,000 | |||
Insignificant Acquisition [Domain] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 500,000 | |||
Insignificant Acquisition [Domain] | Data and Analytics [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 5,700,000 | |||
Collateral and Filed [Domain] | ||||
Goodwill [Line Items] | ||||
Business Combination, Consideration Transferred | 29,100,000 | |||
S&S [Member] | Technology and Processing Solutions [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill | 73,700,000 | |||
Teletrack [Member] | Technology and Processing Solutions [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill | 8,700,000 | 9,000,000 | 9,000,000 | |
Earn-out [Member] | Collateral and Filed [Domain] | ||||
Goodwill [Line Items] | ||||
Business Combination, Consideration Transferred | $20,000,000 |
Other_Identifiable_Intangible_2
Other Identifiable Intangible Assets ( Table) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross | $496,899 | $359,197 |
Accumulated Amortization | -218,629 | -183,389 |
Net | 278,270 | 175,808 |
Customer Lists [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross | 394,070 | 318,939 |
Accumulated Amortization | -192,612 | -165,578 |
Net | 201,458 | 153,361 |
Noncompete Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross | 9,332 | 9,150 |
Accumulated Amortization | -7,351 | -6,659 |
Net | 1,981 | 2,491 |
Trade names and licenses [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross | 93,497 | 31,108 |
Accumulated Amortization | -18,666 | -11,152 |
Net | $74,831 | $19,956 |
Other_Identifiable_Intangible_3
Other Identifiable Intangible Assets (Future Amortization Expense) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $39,795 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 33,650 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 31,702 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 30,898 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 28,139 | |
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 114,086 | |
Other intangible assets, net | $278,270 | $175,808 |
Other_Identifiable_Intangible_4
Other Identifiable Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization of Intangible Assets | $37.50 | $35.10 | $27.10 |
LongTerm_Debt_Table_Details
Long-Term Debt (Table) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | 21-May-11 | Apr. 30, 1998 | |
Debt Instrument [Line Items] | ||||
Total long-term Debt | $1,330,563,000 | $839,930,000 | ||
Less current portion of long-term debt | 11,352,000 | 28,154,000 | ||
Long-term debt, net of current portion | 1,319,211,000 | 811,776,000 | ||
Guarantor Subsidiaries [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt, net of current portion | 5,941,000 | 5,381,000 | ||
7.25% senior notes due June 2021 | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | |||
Acquisition Notes [Member] | Non-interest bearing acquisition note, $5.0 million installment due March 2016 | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Amount Of Installment | 5,000,000 | |||
Total long-term Debt | 4,623,000 | 9,276,000 | ||
Notes Payable to Banks [Member] | 7.25% senior notes due June 2021 | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | |||
Total long-term Debt | 393,000,000 | 393,000,000 | ||
Notes Payable to Banks [Member] | 5.7% senior debentures due August 2014 | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | |||
Total long-term Debt | 0 | 825,000 | ||
Notes Payable to Banks [Member] | 7.55% senior debentures due April 2028 | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.55% | 7.55% | ||
Total long-term Debt | 59,645,000 | 59,645,000 | ||
Line of Credit [Member] | Revolving Line of Credit March 2019 [Domain] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.92% | |||
Total long-term Debt | 85,000,000 | 0 | ||
Line of Credit [Member] | Revolving line of credit borrowings due May 2016, weighted-average interest rate of 1.9% at December 31, 2013, extinguished March 2014 | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 1.90% | |||
Total long-term Debt | 0 | 100,000,000 | ||
Bank Loans [Member] | Term Loan due March 2019 [Member] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 2.41% | |||
Total long-term Debt | 786,250,000 | 0 | ||
Bank Loans [Member] | Term loan facility borrowings due May 2016, weighted-average interest rate of 2.9% at December 31, 2013, extinguished in March 2014 | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 2.90% | |||
Total long-term Debt | 0 | 275,625,000 | ||
Notes Payable, Other Payables [Member] | Various interest rates with maturities through 2017 | ||||
Debt Instrument [Line Items] | ||||
Total long-term Debt | $2,045,000 | $1,559,000 |
LongTerm_Debt_Details
Long-Term Debt (Details) (USD $) | 3 Months Ended | 12 Months Ended | 36 Months Ended | 9 Months Ended | 21 Months Ended | 60 Months Ended | 33 Months Ended | 120 Months Ended | |||||||
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 01, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 01, 2021 | Jun. 01, 2016 | Jun. 30, 2016 | Jun. 02, 2021 | Mar. 31, 2014 | Apr. 30, 2010 | 21-May-11 | Apr. 30, 1998 | |
Debt Instrument [Line Items] | |||||||||||||||
Long-term debt | $1,330,563,000 | $1,330,563,000 | $839,930,000 | ||||||||||||
Senior Debentures | 0.5 | ||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | 100.00% | 60.00% | ||||||||||||
Potential Increase to Term Loan and Line of Credit | 500,000,000 | 500,000,000 | |||||||||||||
Accrued Interest Expense Debt | 9,200,000 | 9,200,000 | 4,600,000 | ||||||||||||
Debt Issuance Cost | 14,000,000 | ||||||||||||||
Interest expense | 71,092,000 | 52,350,000 | 55,524,000 | ||||||||||||
Payments of Debt Issuance Costs | 14,042,000 | 10,436,000 | 0 | ||||||||||||
Deferred Costs, Current | 5,400,000 | ||||||||||||||
Write off of Deferred Debt Issuance Cost | 800,000 | ||||||||||||||
Interest Rate Swap realized Gain Loss | 4,100,000 | ||||||||||||||
7.25% senior notes due June 2021 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt instrument, aggregate principal amount | 400,000,000 | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | ||||||||||||||
Repayments of Debt | 7,000,000 | ||||||||||||||
Contingent Credit Agreement Term Loan Facility [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Repayments of Debt | 31,900,000 | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 850,000,000 | 850,000,000 | |||||||||||||
Term loan facility borrowings due May 2016, weighted-average interest rate of 2.9% at December 31, 2013, extinguished in March 2014 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Line of Credit Facility, Term | 5 years | ||||||||||||||
Contingent Credit Agreement Revolving Facility [Domain] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 550,000,000 | 550,000,000 | |||||||||||||
Multi Currency Sub Facility [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 100,000,000 | 100,000,000 | |||||||||||||
Letter Of Credit Sub Facility [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 50,000,000 | 50,000,000 | |||||||||||||
Credit Agreement [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Line Of Credit Facility, Threshold of Fair Market Value Of Assets and Properties as Collateral | 10,000,000 | 10,000,000 | |||||||||||||
7.55% senior debentures due April 2028 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt instrument, aggregate principal amount | 100,000,000 | ||||||||||||||
Notes Payable to Banks [Member] | 7.25% senior notes due June 2021 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Long-term debt | 393,000,000 | 393,000,000 | 393,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | 7.25% | |||||||||||||
Debt Instrument, Redemption Price, Percentage Of Aggregate Principle Amount | 107.25% | ||||||||||||||
Percentage Of Original Principle Amount Redeemable | 35.00% | ||||||||||||||
Interest Coverage Ratio | 2 | 2 | |||||||||||||
Notes Payable to Banks [Member] | 7.55% senior debentures due April 2028 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Long-term debt | 59,645,000 | 59,645,000 | 59,645,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.55% | 7.55% | 7.55% | ||||||||||||
Line of Credit [Member] | Term loan facility borrowings due May 2016, weighted-average interest rate of 2.9% at December 31, 2013, extinguished in March 2014 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Line of Credit Facility, Periodic Payment | 21,300,000 | 10,600,000 | |||||||||||||
Line of Credit [Member] | Credit Agreement [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Interest Coverage Ratio | 3 | 3 | |||||||||||||
Ratio of Indebtedness to Net Capital | 4.25 | 4.25 | |||||||||||||
Line of Credit [Member] | Revolving line of credit borrowings due May 2016, weighted-average interest rate of 1.9% at December 31, 2013, extinguished March 2014 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Long-term debt | 0 | 0 | 100,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.90% | 1.90% | |||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 465,000,000 | 465,000,000 | |||||||||||||
Acquisition Notes [Member] | Non Interest Bearing Acquisition Note [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt instrument, aggregate principal amount | 5,000,000 | 5,000,000 | |||||||||||||
Debt Instrument Amount Of Installment | 5,000,000 | ||||||||||||||
Long-term debt | 4,623,000 | 4,623,000 | 9,276,000 | ||||||||||||
Term Loan due March 2019 [Member] [Domain] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Interest expense | 500,000 | ||||||||||||||
STARS [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Payments to acquire interest in joint venture | 20,000,000 | ||||||||||||||
STARS [Member] | Acquisition Notes [Member] | Non Interest Bearing Acquisition Note [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt instrument, aggregate principal amount | 15,000,000 | ||||||||||||||
Debt Instrument, Number of Installment Payments | 3 | ||||||||||||||
Debt Instrument Amount Of Installment | 5,000,000 | ||||||||||||||
Guarantor Subsidiaries [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | 100.00% | |||||||||||||
Payments of Debt Issuance Costs | 0 | 10,436,000 | |||||||||||||
Alternate Base Rate [Member] | Line of Credit [Member] | Credit Agreement [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||||||
Adjusted LIBO [Member] | Line of Credit [Member] | Credit Agreement [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||||||||||||
Minimum [Member] | Revolving line of credit borrowings due May 2016, weighted-average interest rate of 1.9% at December 31, 2013, extinguished March 2014 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.25% | ||||||||||||||
Minimum [Member] | Alternate Base Rate [Member] | Line of Credit [Member] | Credit Agreement [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | ||||||||||||||
Minimum [Member] | Alternate Base Rate [Member] | Line of Credit [Member] | Revolving Line of Credit April 2016 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||||||||||||||
Minimum [Member] | Adjusted LIBO [Member] | Line of Credit [Member] | Revolving Line of Credit April 2016 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||||||||||||||
Maximum [Member] | Revolving line of credit borrowings due May 2016, weighted-average interest rate of 1.9% at December 31, 2013, extinguished March 2014 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.50% | ||||||||||||||
Maximum [Member] | Alternate Base Rate [Member] | Line of Credit [Member] | Credit Agreement [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||||||||||||||
Fourth Quarter 2012 [Member] | Line of Credit [Member] | Credit Agreement [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Ratio of Indebtedness to Net Capital | 4 | 4 | |||||||||||||
Fourth Quarter 2013 [Member] | Line of Credit [Member] | Credit Agreement [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Ratio of Indebtedness to Net Capital | 3.5 | 3.5 | |||||||||||||
Other Current Assets [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Payments of Debt Issuance Costs | 13,500,000 | ||||||||||||||
Interest Rate Swap [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Derivative, Notional Amount | 500,000,000 | 500,000,000 | |||||||||||||
Derivative, Fixed Interest Rate | 1.57% | 1.57% | |||||||||||||
Remaining Balance Of Interest Rate Swap Notional Amount | 250,000,000 | 250,000,000 | |||||||||||||
Swap [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Market value adjustments on interest rate swap, net of tax | -2,408,000 | 1,526,000 | -905,000 | ||||||||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | -1,500,000 | 900,000 | -600,000 | ||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Derivative Liability | -3,781,000 | -3,781,000 | -4,020,000 | ||||||||||||
December 2017 [Domain] | Interest Rate Swap [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Quarterly Amortization of Interest Rate Swap Notional Amount | 12,500,000 | 12,500,000 | |||||||||||||
December 2018 [Domain] | Interest Rate Swap [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Quarterly Amortization of Interest Rate Swap Notional Amount | 25,000,000 | 25,000,000 | |||||||||||||
Debt Instrument, Redemption, Period One [Member] | Notes Payable to Banks [Member] | 7.25% senior notes due June 2021 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt Instrument, Redemption Price, Percentage Of Aggregate Principle Amount | 103.63% | 100.00% | |||||||||||||
Debt Instrument, Redemption, Period One [Member] | Line of Credit [Member] | Term loan facility borrowings due May 2016, weighted-average interest rate of 2.9% at December 31, 2013, extinguished in March 2014 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Line of Credit Facility, Periodic Payment | $31,900,000 | ||||||||||||||
Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | 7.25% senior notes due June 2021 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Repurchase Price, Percentage of Principal Amount, Upon Certain Change of Control Events | 101.00% |
LongTerm_Debt_Maturities_Detai
Long-Term Debt (Maturities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | |||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $11,352,000 | ||
2016 | 80,080,000 | ||
2017 | 117,386,000 | ||
2018 | 127,601,000 | ||
2019 | 541,875,000 | ||
Thereafter | 452,645,000 | ||
Total | 1,330,939,000 | [1] | |
Long-term debt | 1,330,563,000 | 839,930,000 | |
Acquisition Notes [Member] | Non Interest Bearing Acquisition Note [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, aggregate principal amount | 5,000,000 | ||
Long-term debt | $4,623,000 | $9,276,000 | |
[1] | Includes the acquisition related remaining note payable of $5.0 million, which is non-interest bearing and discounted to $4.6 million as of DecemberB 31, 2014. |
Income_Taxes_Domestic_and_Fore
Income Taxes (Domestic and Foreign) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | $8,400,000 | ||
Continuing Operations Attributable to CoreLogic, United States Operations | 86,195,000 | 94,744,000 | 125,644,000 |
Equity In Earnings of Affiliates, United States Operations | 22,988,000 | 43,022,000 | 56,928,000 |
Continuing Operations Attributable to CoreLogic, Foreign | 19,196,000 | 11,881,000 | -2,074,000 |
Equity In Earnings of Affiliates, Foreign | 0 | 795,000 | 1,153,000 |
Continuing Operations Attributable to CoreLogic | 105,391,000 | 106,625,000 | 123,570,000 |
Equity In Earnings of Affiliates | $22,988,000 | $43,817,000 | $58,081,000 |
Income_Taxes_Current_and_Defer
Income Taxes (Current and Deferred) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred: | |||
Deferred income tax expense (benefit) | $20,986 | $8,120 | $34,476 |
Total Income Tax Provision/(Benefit) | 29,770 | 33,673 | 63,488 |
CoreLogic [Member] | |||
Deferred: | |||
Total Income Tax Provision/(Benefit) | -43,448 | -40,392 | -44,908 |
Affiliates [Member] | |||
Current: | |||
Federal | 7,603 | 14,083 | 18,929 |
State | 1,265 | 2,151 | 2,846 |
Foreign | 0 | 222 | 323 |
Current income tax expense (benefit) | 8,868 | 16,456 | 22,098 |
Deferred: | |||
Federal | 0 | 0 | 0 |
State | 0 | 0 | 0 |
Foreign | 0 | 0 | 0 |
Deferred income tax expense (benefit) | 0 | 0 | 0 |
Total Income Tax Provision/(Benefit) | 8,868 | 16,456 | 22,098 |
Continuing Operations [Member] | CoreLogic [Member] | |||
Current: | |||
Federal | 186 | 19,294 | 23,574 |
State | 2,137 | -1,596 | 5,389 |
Foreign | 3,249 | 2,006 | -3,358 |
Current income tax expense (benefit) | 5,572 | 19,704 | 25,605 |
Deferred: | |||
Federal | 26,769 | 14,568 | 25,530 |
State | 1,299 | -273 | 2,658 |
Foreign | -3,870 | -326 | 9,695 |
Deferred income tax expense (benefit) | 24,198 | 13,969 | 37,883 |
Total Income Tax Provision/(Benefit) | $29,770 | $33,673 | $63,488 |
Income_Taxes_Reconciliation_De
Income Taxes (Reconciliation) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
CoreLogic [Member] | |||
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||
Federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
State taxes, net of federal benefit | 6.20% | 4.00% | 6.10% |
Foreign taxes (less than) in excess of federal rate | -5.60% | 1.00% | 5.00% |
Non-deductible expenses, including Separation-related | 1.70% | 4.90% | 0.30% |
Gain on disposition of subsidiary | 0.00% | 0.00% | 0.00% |
Change from investee to subsidiary | 0.00% | -2.30% | 0.00% |
Change in uncertain tax positions | 1.30% | 2.70% | 0.10% |
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent | -7.90% | -10.20% | 0.00% |
Other items, net | -2.50% | -3.50% | 4.90% |
Effective Income Tax Rate | 28.20% | 31.60% | 51.40% |
Affiliates [Member] | |||
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||
Federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
State taxes, net of federal benefit | 3.60% | 3.20% | 3.20% |
Foreign taxes (less than) in excess of federal rate | 0.00% | -0.60% | -0.10% |
Non-deductible expenses, including Separation-related | 0.00% | 0.00% | 0.00% |
Gain on disposition of subsidiary | 0.00% | 0.00% | 0.00% |
Change from investee to subsidiary | 0.00% | 0.00% | 0.00% |
Change in uncertain tax positions | 0.00% | 0.00% | 0.00% |
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent | 0.00% | 0.00% | 0.00% |
Other items, net | 0.00% | 0.00% | 0.00% |
Effective Income Tax Rate | 38.60% | 37.60% | 38.10% |
Income_Taxes_AssetLiability_De
Income Taxes (Asset/Liability) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ||
Net losses and credit carryforwards | $98,633 | $41,582 |
Deferred revenue | 137,090 | 115,850 |
Bad debt reserves | 2,962 | 5,205 |
Employee benefits | 47,414 | 48,646 |
Accrued expenses and loss reserves | 29,791 | 29,976 |
Other | -989 | 324 |
Less: valuation allowance | -21,912 | -24,173 |
Total deferred tax assets | 292,989 | 217,410 |
Deferred tax liabilities: | ||
Depreciable and amortizable assets | 247,458 | 190,905 |
Investment in affiliates | 19,169 | 16,985 |
Total deferred tax liabilities | 266,627 | 207,890 |
Net deferred tax asset/(liability) | $26,362 | $9,520 |
Income_Taxes_Unrecognized_Tax_
Income Taxes (Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $600,000 | $800,000 | $600,000 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - Opening Balance | 55,325,000 | 52,654,000 | 19,302,000 |
Gross increases - tax positions in prior period | 2,950,000 | 0 | 33,787,000 |
Gross decreases - tax positions in prior period | -22,698,000 | 0 | -21,000 |
Gross increases - current-period tax positions | 651,000 | 2,671,000 | 0 |
Settlements with taxing authorities | -565,000 | 0 | -163,000 |
Expiration of the statute of limitations for the assessment of taxes | 0 | 0 | -251,000 |
Unrecognized Tax Benefits - Ending Balance | $35,663,000 | $55,325,000 | $52,654,000 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Loss Carryforwards [Line Items] | |||
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | $8,400,000 | ||
Income tax, one time charge | 29,770,000 | 33,673,000 | 63,488,000 |
Estimated undistributed earnings from non-United States subsidiaries | 13,200,000 | ||
Operating loss carryforwards, not subject to expiration | 2,200,000 | ||
Valuation allowance | 21,912,000 | 24,173,000 | |
Accrued Interest and penalties related to uncertain tax positions | 16,000,000 | 9,100,000 | |
Interest and penalties expense related to uncertain tax positions | 600,000 | 800,000 | 600,000 |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 565,000 | 0 | 163,000 |
Investor [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Uncertain tax benefits that would impact effective tax rate | 12,700,000 | 11,200,000 | |
Unrecognized Tax Benefits, that Would Not Impact Effective Tax Rate | 21,500,000 | 44,100,000 | |
Internal Revenue Service (IRS) [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net operating loss carryforwards | 195,500,000 | 55,000,000 | |
Operating loss carryforwards, subject to expiration | 19,400,000 | ||
State [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net operating loss carryforwards | 289,400,000 | 94,800,000 | |
Operating loss carryforwards, subject to expiration | 87,200,000 | ||
Foreign [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net operating loss carryforwards | 15,300,000 | 25,400,000 | |
Capital and Net Operating Losses Expected to Expire [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Change in valuation allowance | 2,300,000 | ||
FAFC [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 300,000 | ||
Unrecognized Tax Benefits, Period Increase (Decrease) | 21,600,000 | ||
Liability for Uncertain Tax Positions, Noncurrent | 29,600,000 | ||
MSB/DQ Member [Domain] | |||
Operating Loss Carryforwards [Line Items] | |||
Unrecognized Tax Benefits, Increase Resulting from Acquisition | $1,900,000 |
EarningsLoss_Per_Share_Details
Earnings/(Loss) Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Numerator for basic and diluted net income/(loss) per share: | |||||||||||
Income from continuing operations, net of tax | $16,461 | $49,719 | $26,740 | ($3,179) | ($9,328) | $43,382 | $35,352 | $30,907 | $89,741 | $100,313 | $96,065 |
(Loss)/income from discontinued operations, net of tax | -1,432 | -4,856 | -10,752 | 387 | -3,512 | 5,332 | 8,198 | 4,405 | -16,653 | 14,423 | 12,387 |
Gain/(loss) from sale of discontinued operations, net of tax | 112 | -7,008 | 3,841 | ||||||||
Net income attributable to CoreLogic | $14,665 | $45,339 | $15,988 | ($2,792) | ($13,052) | $43,662 | $43,550 | $33,568 | $73,200 | $107,728 | $112,293 |
Denominator: | |||||||||||
Weighted-average shares for basic income/(loss) per share | 89,597 | 90,518 | 91,750 | 91,433 | 92,946 | 94,773 | 95,516 | 97,113 | 90,825 | 95,088 | 102,913 |
Dilutive effect of stock options and restricted stock units | 1,604 | 2,021 | 1,137 | ||||||||
Weighted-average shares for diluted income/(loss) per share | 91,245 | 91,987 | 93,062 | 91,433 | 92,946 | 96,793 | 97,180 | 99,056 | 92,429 | 97,109 | 104,050 |
Earnings Per Share, Basic | |||||||||||
Income from continuing operations, net of tax (in dollars per share) | $0.18 | $0.55 | $0.29 | ($0.03) | ($0.10) | $0.46 | $0.37 | $0.32 | $0.99 | $1.05 | $0.93 |
(Loss)/income from discontinued operations, net of tax (in dollars per share) | ($0.02) | ($0.05) | ($0.12) | $0 | ($0.04) | $0.06 | $0.09 | $0.05 | ($0.18) | $0.15 | $0.12 |
Gain/(loss) from sale of discontinued operations, net of tax (in dollars per share) | $0 | $0.01 | $0 | $0 | $0 | ($0.05) | $0 | ($0.02) | $0 | ($0.07) | $0.04 |
Net income/(loss) attributable to CoreLogic (in dollars per share) | $0.16 | $0.51 | $0.17 | ($0.03) | ($0.14) | $0.47 | $0.46 | $0.35 | $0.81 | $1.13 | $1.09 |
Earnings Per Share, Diluted | |||||||||||
Income from continuing operations, net of tax (in dollars per share) | $0.18 | $0.54 | $0.29 | ($0.03) | ($0.10) | $0.45 | $0.36 | $0.31 | $0.97 | $1.03 | $0.92 |
(Loss)/income from discontinued operations, net of tax (in dollars per share) | ($0.02) | ($0.05) | ($0.12) | $0 | ($0.04) | $0.06 | $0.08 | $0.04 | ($0.18) | $0.15 | $0.12 |
Gain/(loss) from sale of discontinued operations, net of tax (in dollars per share) | $0 | $0.01 | $0 | $0 | $0 | ($0.05) | $0 | ($0.02) | $0 | ($0.07) | $0.04 |
Net income/(loss) attributable to CoreLogic (in dollars per share) | $0.16 | $0.50 | $0.17 | ($0.03) | ($0.14) | $0.46 | $0.44 | $0.33 | $0.79 | $1.11 | $1.08 |
EarningsLoss_Per_Share_Antidil
Earnings/(Loss) Per Share (Antidilutive Shares) (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share [Abstract] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0.3 | 0.4 | 2.6 |
Employee_Benefit_Plans_Project
Employee Benefit Plans (Projected Benefit Obligation) (Details) (SERP And Restoration Plans [Member], USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Change in projected benefit obligation: | ||||
Benefit obligation at beginning of period | $27,059 | $34,102 | ||
Service costs | 282 | 637 | ||
Interest costs | 1,233 | 1,293 | ||
Actuarial losses/(gains) | 5,564 | -5,826 | ||
Benefits paid | -1,879 | -3,147 | ||
Projected benefit obligation at end of period | 32,259 | 27,059 | ||
Change in plan assets: | ||||
Benefits paid | -1,879 | -3,147 | ||
Plan assets at fair value at end of the period | 0 | 0 | 1,432 | |
Unfunded status of the plans | -32,259 | -27,059 | ||
Accrued benefit liability | -32,259 | -27,059 | ||
Pension plan asset | 0 | 0 | ||
Projected benefit obligation at end of period | -32,259 | -27,059 | ||
Amounts recognized in accumulated other comprehensive income/(loss): | ||||
Unrecognized net actuarial loss | 13,685 | [1] | 8,840 | |
Unrecognized prior service credit | -6,775 | -7,920 | ||
Pension and other postretirement benefit plans, amount recognized in accumulated other comprehensive income | 6,910 | 920 | ||
Change in Plan Assets [Member] | ||||
Change in projected benefit obligation: | ||||
Benefits paid | -3,149 | |||
Change in plan assets: | ||||
Actual return on plan assets | -53 | |||
Benefits paid | -3,149 | |||
Change in Plan Assets [Member] | ||||
Change in projected benefit obligation: | ||||
Benefits paid | -1,879 | |||
Change in plan assets: | ||||
Actual return on plan assets | 0 | |||
Company contributions | 1,879 | 1,770 | ||
Benefits paid | ($1,879) | |||
[1] | The risk-free interest rate for the periods within the contractual term of the PBRSUs is based on the U.S. Treasury yield curve in effect at the time of the grant. |
Employee_Benefit_Plans_Pension
Employee Benefit Plans (Pension Costs) (Details) (Pension Plan SERP and Restoration Plan [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Plan SERP and Restoration Plan [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Service costs | $282 | $637 | $932 |
Interest costs | 1,231 | 1,293 | 1,386 |
Expected return on plan assets | 0 | -57 | -41 |
Amortization of net (gain)/loss | -424 | 179 | 80 |
Net periodic benefit cost | $1,089 | $2,052 | $2,357 |
Employee_Benefit_Plans_Weighte
Employee Benefit Plans (Weighted Assumptions) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
SERP Plans | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Weighted average discount rate | 4.72% | 3.89% | 4.52% |
Discount rate | 3.85% | 4.72% | |
Restoration Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Weighted average discount rate | 4.82% | 4.02% | 4.57% |
Discount rate | 3.98% | 4.82% | |
CDS Mapping | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Weighted average discount rate | 4.00% |
Employee_Benefit_Plans_Funded_
Employee Benefit Plans (Funded Status) (Details) (SERP Plans, USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
SERP Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | $32,259 | $27,059 | $34,102 |
Accumulated benefit obligation | 32,259 | 27,059 | 34,102 |
Plan assets at fair value at end of year | $0 | $0 | $0 |
Employee_Benefit_Plans_Payment
Employee Benefit Plans (Payments) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Compensation and Retirement Disclosure [Abstract] | |
2015 | $1,955 |
2016 | 1,414 |
2017 | 1,397 |
2018 | 1,379 |
2019 | 1,361 |
2020-2024 | 8,358 |
Total | $15,864 |
Employee_Benefit_Plans_Other_D
Employee Benefit Plans (Other) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Defined Contribution Plan, Cost Recognized | $5,700,000 | $7,600,000 | $6,000,000 |
Common Stock, Shares, Outstanding | 89,343,000 | 91,254,000 | |
Savings Plan 401k [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Common Stock, Shares, Outstanding | 866,559 | 951,704 | |
Deferred compensation plan with individual percentage of total shares outstanding | 1.00% | ||
Deferred Compensation, Share-based Payments [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Deferred compensation plan with individual percentage of salary deferral | 80.00% | ||
Plan assets at fair value at year end | 30,300,000 | 30,500,000 | |
Deferred compensation plan, unfunded liability | $34,200,000 | $34,300,000 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Recurring) (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | $104,677 | $134,419 |
Restricted cash | 0 | 0 |
Equity securities | 22,264 | 22,220 |
Total Financial Assets | 126,941 | 156,639 |
Financial Liabilities: | ||
Total debt | 0 | 0 |
Total Financial Liabilities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 12,360 | 12,050 |
Equity securities | 0 | 0 |
Total Financial Assets | 12,360 | 12,050 |
Financial Liabilities: | ||
Total debt | 1,323,201 | 869,232 |
Total Financial Liabilities | 1,323,201 | 869,232 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Equity securities | 0 | 0 |
Total Financial Assets | 0 | 0 |
Financial Liabilities: | ||
Total debt | 0 | 0 |
Total Financial Liabilities | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 104,677 | 134,419 |
Restricted cash | 12,360 | 12,050 |
Equity securities | 22,264 | 22,220 |
Total Financial Assets | 139,301 | 168,689 |
Financial Liabilities: | ||
Total debt | 1,323,201 | 869,232 |
Total Financial Liabilities | 1,323,201 | 869,232 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivatives: | ||
Liability for interest rate swap agreements | 0 | 0 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivatives: | ||
Liability for interest rate swap agreements | 3,781 | 4,020 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivatives: | ||
Liability for interest rate swap agreements | 0 | 0 |
Interest Rate Swap [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ||
Derivatives: | ||
Liability for interest rate swap agreements | $3,781 | $4,020 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments (Nonrecurring) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets of discontinued operations | $4,267 | $38,926 | |
Property and equipment, net | 368,614 | 197,542 | |
Other intangible assets, net | 278,270 | 175,808 | |
Investment in affiliates, net | 103,598 | 95,343 | |
Goodwill | 1,780,758 | 1,468,290 | 1,354,823 |
Nonrecurring Basis [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets of discontinued operations | 19,961 | 0 | |
Property and equipment, net | 0 | 0 | 0 |
Other intangible assets, net | 0 | ||
Investment in affiliates, net | 0 | 0 | |
Non-financial instruments | 0 | 97,577 | 0 |
Total Losses, non-financial instruments | 5,330 | 54,047 | 39,867 |
Goodwill | 0 | 77,616 | |
Nonrecurring Basis [Member] | Assets of discontinued operations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total Losses, non-financial instruments | 9,614 | 18,741 | |
Nonrecurring Basis [Member] | Property and equipment, net [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total Losses, non-financial instruments | 1,070 | 1,969 | 19,880 |
Nonrecurring Basis [Member] | Goodwill [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total Losses, non-financial instruments | 3,900 | 42,216 | |
Nonrecurring Basis [Member] | Other intangible assets, net [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total Losses, non-financial instruments | 248 | ||
Nonrecurring Basis [Member] | Investment in affiliates, net [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total Losses, non-financial instruments | 360 | 1,246 | |
Nonrecurring Basis [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets of discontinued operations | 0 | 0 | |
Property and equipment, net | 0 | 0 | 0 |
Other intangible assets, net | 0 | ||
Investment in affiliates, net | 0 | 0 | |
Non-financial instruments | 0 | 0 | 0 |
Goodwill | 0 | 0 | |
Nonrecurring Basis [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets of discontinued operations | 0 | 0 | |
Property and equipment, net | 0 | 0 | 0 |
Other intangible assets, net | 0 | ||
Investment in affiliates, net | 0 | 0 | |
Non-financial instruments | 0 | 0 | 0 |
Goodwill | 0 | 0 | |
Nonrecurring Basis [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets of discontinued operations | 19,961 | 0 | |
Property and equipment, net | 0 | 0 | 0 |
Other intangible assets, net | 0 | ||
Investment in affiliates, net | 0 | 0 | |
Non-financial instruments | 0 | 97,577 | 0 |
Goodwill | $0 | $77,616 |
ShareBased_Compensation_Plans_1
Share-Based Compensation Plans (Restricted Stock Units) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 10 years | 10 years | |
Number of Annual Installments in which Stock Options will Vest | 3 | 3,000 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,380,000 | 1,466,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $27.17 | $22.13 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 807,890 | 788,680 | 780,682 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $30.62 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 697,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $20.89 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 197,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $26.02 |
ShareBased_Compensation_Perfor
ShareBased Compensation Performance-Based Valuation Assumptions Table (Details) (PBRSU [Member]) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | ||
PBRSU [Member] | |||
Schedule of Share-based Payment Awards, Performance-Based, Valuation Assumptions [Line Items] | |||
Expected dividend yield | 0.00% | 0.00% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.74% | [1] | 0.41% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 27.88% | [2] | 29.87% |
Share-based Compensation Arrangement, Fair Value, Average Shareholder Return | -0.90% | [2] | 17.87% |
[1] | The risk-free interest rate for the periods within the contractual term of the PBRSUs 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. |
ShareBased_Compensation_Plans_2
Share-Based Compensation Plans (Performance Based Restricted Stock Units) (Details) (PBRSU [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
PBRSU [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 904,000 | 1,247,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $22.19 | $18.52 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 367,558 | 410,497 | 347,572 |
RSUs granted | $31.46 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 612,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $16.92 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 99,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $23.52 |
ShareBased_Compensation_Plans_3
Share-Based Compensation Plans (Options) (Details) (Employee Stock Option [Member], USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,563,000 | 2,663,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $22.32 | $21.12 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 290,737 | 445,705 | 581,265 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $31.46 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | -303,000 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $19.77 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | -88,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $25.02 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 4 years 11 months 8 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $23,903 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 2,539,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $22.26 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 4 years 10 months 26 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 23,834 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 1,953,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $21.18 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 3 years 10 months 13 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $20,344 |
ShareBased_Compensation_Plans_4
Share-Based Compensation Plans (Weighted Average Assumptions) (Details) (Stock Options [Member]) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 1.74% | 0.90% | 1.00% |
Expected volatility | 37.92% | 41.65% | 42.81% |
Expected life | 5 years 5 months 19 days | 5 years 6 months | 5 years 6 months |
ShareBased_Compensation_Plans_5
Share-Based Compensation Plans (Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | $25,588 | $27,039 | $20,809 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 19,078 | 12,754 | 9,988 |
PBRSU [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 1,750 | 9,746 | 7,050 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 3,730 | 3,982 | 3,664 |
Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | $1,030 | $557 | $107 |
ShareBased_Compensation_Plans_6
ShareBased Compensation Plans ShareBased Compensation Plans (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 19-May-11 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | $25,588,000 | $27,039,000 | $20,809,000 | |
Employee Stock Purchase Plan Percent of Stock Price At Closing Date | 85.00% | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | 19,078,000 | 12,754,000 | 9,988,000 | |
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 24,700,000 | 20,800,000 | 13,600,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 807,890 | 788,680 | 780,682 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 10 months 26 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 19,700,000 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | 3,730,000 | 3,982,000 | 3,664,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Estimated Value Granted During Period | 9,100,000 | 11,700,000 | 9,300,000 | |
Options granted | 290,737 | 445,705 | 581,265 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 9 months 7 days | |||
Number of Annual Installments in which Stock Options will Vest | 3 | 3,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 10 years | 10 years | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 3,500,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 3,500,000 | 13,800,000 | 3,700,000 | |
PBRSU [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | 1,750,000 | 9,746,000 | 7,050,000 | |
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 11,600,000 | 10,700,000 | 5,600,000 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 3 months 7 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 367,558 | 410,497 | 347,572 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 1,100,000 | |||
2012 PBRSU awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Compensation PBRSU percent of target | 150.00% | |||
CoreLogic 2011 Performance Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Available In award Pool | 21,930,000 | |||
Cost of Services [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | 1,700,000 | 1,000,000 | 2,600,000 | |
Discontinued Operations [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | $200,000 | $100,000 | $200,000 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 26, 2011 | |
Long-term Purchase Commitment [Line Items] | ||||
Operating leases, rent expense | $35,600,000 | $39,800,000 | $42,400,000 | |
CoreLogic India [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Disposal group, sales price | 50,000,000 | |||
Initial Term of Master Professional Services Agreement | 7 years | |||
Number of Extensions Allowed Under Master Professional Servicces Agreement | 3 | |||
Master Professional Servicces Agreement, Extension Period | 1 year | |||
Period Subject to Minimum Commitment Under Master Professional Servicces Agreement | 5 years | |||
Disposal group, deferred gain on disposal | 27,100,000 | |||
Remaining minimum commitment | 93,500,000 | |||
CoreLogic India [Member] | Business Process and Information Technology Services [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Long-term purchase commitment, amount | $303,500,000 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Operating Lease) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Operating Leases, Future Minimum Payments Due [Abstract] | |
2013 | $32,280 |
2014 | 27,795 |
2015 | 16,654 |
2016 | 12,814 |
2017 | 10,910 |
Thereafter | 13,483 |
Total | $113,936 |
Litigation_and_Regulatory_Cont1
Litigation and Regulatory Contingencies (Details) (USD $) | 3 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 04, 2012 | Jun. 20, 2013 | Dec. 31, 2011 | Dec. 31, 2014 | Feb. 06, 2012 | Nov. 01, 2011 | |
loans | loans | Claims | loans | ||||
Litigation Settlement, Expense | $9,900,000 | ||||||
Pending or Threatened Litigation [Member] | |||||||
Number of residential mortgage loans involved in breach of contract in appraisal services | 160 | 146 | 194 | ||||
Loss contingency, value of damages sought | 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 | ||||||
Litigation Status [Domain] | |||||||
Costs Associated with Legal Settlement | $12,000,000 |
Acquisitions_Details
Acquisitions (Details) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jul. 02, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 01, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Sep. 30, 2011 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Jul. 02, 2013 | Dec. 31, 2014 | Sep. 30, 2011 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Sep. 30, 2011 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | BofA's credit services [Member] | MSB/DQ Member [Domain] | MSB/DQ Member [Domain] | Terralink [Domain] | Terralink [Domain] | Terralink [Domain] | BofA Flood and Tax Servicing [Member] | BofA Flood and Tax Servicing [Member] | BofA Flood and Tax Servicing [Member] | CDS Mapping | CDS Mapping | EQECAT Acquisition [Member] | EQECAT Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | Customer Lists [Member] | Customer Lists [Member] | Customer Lists [Member] | Customer Lists [Member] | Customer Lists [Member] | Property, Plant and Equipment [Member] | Property, Plant and Equipment [Member] | Title Plant [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Capitalized Data [Member] | Noncompete Agreements [Member] | Computer Software, Intangible Asset [Member] | Computer Software, Intangible Asset [Member] | Property, Plant and Equipment, Other Types [Member] | Technology and Processing Solutions [Member] | Technology and Processing Solutions [Member] | Technology and Processing Solutions [Member] | Technology and Processing Solutions [Member] | Technology and Processing Solutions [Member] | Data and Analytics [Member] | Data and Analytics [Member] | Data and Analytics [Member] | Data and Analytics [Member] | Data and Analytics [Member] | Data and Analytics [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | NZD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | NZD | USD ($) | BofA's credit services [Member] | Terralink [Domain] | BofA Flood and Tax Servicing [Member] | CDS Mapping | EQECAT Acquisition [Member] | BofA's credit services [Member] | Terralink [Domain] | BofA Flood and Tax Servicing [Member] | Terralink [Domain] | CDS Mapping | EQECAT Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | Terralink [Domain] | CDS Mapping | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | USD ($) | USD ($) | USD ($) | BofA's credit services [Member] | MSB/DQ Member [Domain] | USD ($) | USD ($) | USD ($) | MSB/DQ Member [Domain] | Terralink [Domain] | EQECAT Acquisition [Member] | ||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Businesses, Gross | $19,600,000 | $652,500,000 | $11,900,000 | 14,500,000 | $62,500,000 | $78,800,000 | $22,200,000 | $2,600,000 | 3,300,000 | |||||||||||||||||||||||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 4,300,000 | 177,311,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Finite-Lived Customer Lists, Gross | 3,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 6,100,000 | 1,400,000 | 31,100,000 | 600,000 | 3,500,000 | 3,500,000 | 24,500,000 | 2,100,000 | 2,500,000 | 200,000 | 4,200,000 | 700,000 | 6,000,000 | 2,900,000 | 9,000,000 | 1,100,000 | 129,400,000 | |||||||||||||||||||||||||||||||||
Goodwill, Acquired During Period | 324,941,000 | 55,788,000 | 307,773,000 | 28,900,000 | 33,900,000 | 16,900,000 | 14,900,000 | 39,140,000 | 28,942,000 | 9,200,000 | 29,900,000 | 285,801,000 | 26,846,000 | 277,800,000 | 2,300,000 | 12,700,000 | ||||||||||||||||||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 10.00% | |||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years | 10 years | 15 years | 10 years | 13 years | 10 years | 3 years | 5 years | 12 years | 14 years | 10 years | 10 years | 15 years | 5 years | 15 years | 5 years | ||||||||||||||||||||||||||||||||||
Business Combination, Acquisition Related Costs | 9,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | 6,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 167,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill, Period Increase (Decrease) | 55,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 67,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 5,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | $138,394,000 | $126,332,000 | $117,108,000 | $18,600,000 | $26,019,000 | $30,780,000 | $24,161,000 | $98,313,000 | $74,186,000 | $69,567,000 |
Acquisitions_MSBDQ_Purchase_Pr
Acquisitions (MSB/DQ Purchase Price Allocation) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Business Acquisition [Line Items] | ||
Goodwill, Acquired During Period | $324,941 | $55,788 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 652,519 | |
MSB/DQ Member [Domain] | ||
Business Acquisition [Line Items] | ||
Goodwill, Acquired During Period | 307,773 | |
Data and Analytics [Member] | ||
Business Acquisition [Line Items] | ||
Goodwill, Acquired During Period | 285,801 | 26,846 |
Data and Analytics [Member] | MSB/DQ Member [Domain] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 36 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 9,227 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 2,190 | |
Business Combination, Recognized Intangible Assets Acquired, Deferred Tax Asset Current | 6,658 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 177,311 | |
Goodwill, Acquired During Period | 277,800 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 129,400 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent | 29,760 | |
Business Combination, Recognized Intangible Assets Acquired, equity method investment | 18,300 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 680,655 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 3,911 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Income Tax Payable | 31 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | 22,371 | |
business acquisition, recognized identifiable assets acquired, deferred revenue non current | $1,823 |
Acquisitions_MSBDQ_Pro_Forma_I
Acquisitions (MSB/DQ Pro Forma Information) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | $1,427,424 | $1,506,660 |
Business Acquisition, Pro Forma Net Income (Loss) | $82,724 | $103,997 |
Redeemable_NonControlling_Inte1
Redeemable NonControlling Interest (Details) | 12 Months Ended | 3 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 01, 2013 | Sep. 01, 2013 | |
USD ($) | USD ($) | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | PIQ Acquisition [Member] | |
USD ($) | NZD | USD ($) | NZD | |||
Redeemable Noncontrolling Interest [Line Items] | ||||||
Adjustment of carrying value of mandatorily redeemable noncontrolling interest | ($6,555,000) | ($26,000) | ||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 10.00% | 10.00% | ||||
Payments to Acquire Businesses, Gross | 2,600,000 | 3,300,000 | ||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | 60.00% | ||||
Stockholders' Equity Attributable to Noncontrolling Interest | 10,200,000 | 13,200,000 | ||||
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | $1,300,000 |
Discontinued_Operations_Tables1
Discontinued Operations (Tables) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement [Abstract] | |||||||||||
(Loss)/income from discontinued operations, net of tax | ($1,432) | ($4,856) | ($10,752) | $387 | ($3,512) | $5,332 | $8,198 | $4,405 | ($16,653) | $14,423 | $12,387 |
Statement of Financial Position [Abstract] | |||||||||||
Property and equipment, net | 1,700 | 1,700 | |||||||||
Components Total [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 94,039 | 193,117 | 361,500 | ||||||||
(Loss)/income from discontinued operations before income taxes | -24,268 | 24,801 | 26,095 | ||||||||
(Benefit)/provision for income taxes | -7,615 | 10,378 | 13,708 | ||||||||
(Loss)/income from discontinued operations, net of tax | -16,653 | 14,423 | 12,387 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Disposal Group, Including Discontinued Operation, Other Current Assets | 4,267 | 3,194 | 4,267 | 3,194 | |||||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 14,073 | 14,073 | |||||||||
Property and equipment, net | 1,698 | 1,698 | |||||||||
Goodwill and other identifiable intangible assets, net | 19,961 | 19,961 | |||||||||
Total assets | 4,267 | 38,926 | 4,267 | 38,926 | |||||||
Disposal Group, Including Discontinued Operation, Accounts Payable | 11,085 | 11,085 | |||||||||
Disposal Group, Including Discontinued Operation, Other Liabilities | 9,531 | 9,531 | |||||||||
Total liabilities | 13,704 | 20,616 | 13,704 | 20,616 | |||||||
Data and Analytics [Member] | Discontinued Operations Marketing [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 0 | 0 | 0 | ||||||||
(Loss)/income from discontinued operations before income taxes | -717 | -2,129 | -122 | ||||||||
(Benefit)/provision for income taxes | -350 | -814 | 4,891 | ||||||||
(Loss)/income from discontinued operations, net of tax | -367 | -1,315 | -5,013 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Disposal Group, Including Discontinued Operation, Other Current Assets | 177 | 177 | 177 | 177 | |||||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 0 | 0 | |||||||||
Property and equipment, net | 0 | 0 | |||||||||
Goodwill and other identifiable intangible assets, net | 0 | 0 | |||||||||
Total assets | 177 | 177 | 177 | 177 | |||||||
Disposal Group, Including Discontinued Operation, Accounts Payable | 676 | 676 | |||||||||
Disposal Group, Including Discontinued Operation, Other Liabilities | 259 | 259 | |||||||||
Total liabilities | 194 | 935 | 194 | 935 | |||||||
Data and Analytics [Member] | Discsontinued Operations Consumer [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 0 | 0 | 55,773 | ||||||||
(Loss)/income from discontinued operations before income taxes | 0 | 196 | 5,026 | ||||||||
(Benefit)/provision for income taxes | 0 | 75 | 15 | ||||||||
(Loss)/income from discontinued operations, net of tax | 0 | 121 | 5,011 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Disposal Group, Including Discontinued Operation, Other Current Assets | 149 | 149 | 149 | 149 | |||||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 0 | 0 | |||||||||
Property and equipment, net | 0 | 0 | |||||||||
Goodwill and other identifiable intangible assets, net | 0 | 0 | |||||||||
Total assets | 149 | 149 | 149 | 149 | |||||||
Disposal Group, Including Discontinued Operation, Accounts Payable | 0 | 0 | |||||||||
Disposal Group, Including Discontinued Operation, Other Liabilities | 88 | 88 | |||||||||
Total liabilities | 88 | 88 | 88 | 88 | |||||||
Asset Management and Processing Solutions [Member] | |||||||||||
Statement of Financial Position [Abstract] | |||||||||||
Disposal Group, Including Discontinued Operation, Accounts Payable | 7,282 | 7,282 | |||||||||
Disposal Group, Including Discontinued Operation, Other Liabilities | 8,616 | 8,616 | |||||||||
Asset Management and Processing Solutions [Member] | Asset Management and Processing Solutions [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 94,039 | 193,117 | 280,589 | ||||||||
(Loss)/income from discontinued operations before income taxes | 7,188 | 32,928 | 42,566 | ||||||||
(Benefit)/provision for income taxes | 4,520 | 13,486 | 13,988 | ||||||||
(Loss)/income from discontinued operations, net of tax | 2,668 | 19,442 | 28,578 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Disposal Group, Including Discontinued Operation, Other Current Assets | 133 | 2,668 | 133 | 2,668 | |||||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 14,073 | 14,073 | |||||||||
Property and equipment, net | 1,698 | 1,698 | |||||||||
Goodwill and other identifiable intangible assets, net | 19,961 | 19,961 | |||||||||
Total assets | 133 | 38,400 | 133 | 38,400 | |||||||
Total liabilities | 2,481 | 15,898 | 2,481 | 15,898 | |||||||
Technology and Processing Solutions [Member] | Discontinued Operations Appraisal [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 0 | 0 | 25,138 | ||||||||
(Loss)/income from discontinued operations before income taxes | -30,739 | -6,194 | -21,375 | ||||||||
(Benefit)/provision for income taxes | -11,785 | -2,369 | -5,186 | ||||||||
(Loss)/income from discontinued operations, net of tax | -18,954 | -3,825 | -16,189 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Disposal Group, Including Discontinued Operation, Other Current Assets | 3,808 | 200 | 3,808 | 200 | |||||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 0 | 0 | |||||||||
Property and equipment, net | 0 | 0 | |||||||||
Goodwill and other identifiable intangible assets, net | 0 | 0 | |||||||||
Total assets | 3,808 | 200 | 3,808 | 200 | |||||||
Disposal Group, Including Discontinued Operation, Accounts Payable | 3,127 | 3,127 | |||||||||
Disposal Group, Including Discontinued Operation, Other Liabilities | 568 | 568 | |||||||||
Total liabilities | $10,941 | $3,695 | $10,941 | $3,695 |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Aug. 31, 2012 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Gain/(loss) from sale of discontinued operations, net of tax | $112,000 | ($7,008,000) | $3,841,000 | ||||||||||
Cash received from sale of subsidiary, net | 25,366,000 | 2,263,000 | 10,000,000 | ||||||||||
Income/(loss) from sale of discontinued operations, net of tax | -364,000 | 476,000 | 0 | 0 | -212,000 | -5,052,000 | 0 | -1,744,000 | |||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | 60.00% | 100.00% | 60.00% | |||||||||
Field and Collateral [Domain] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Gain/(loss) from sale of discontinued operations, net of tax | -1,400,000 | ||||||||||||
Discontinued Operations Appraisal [Member] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down | 13,900,000 | ||||||||||||
Collateral and Filed [Domain] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Business Combination, Consideration Transferred | 29,100,000 | ||||||||||||
Earn-out [Member] | Collateral and Filed [Domain] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Business Combination, Consideration Transferred | 20,000,000 | ||||||||||||
Discontinued Operations [Member] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Cash received from sale of subsidiary, net | 1,500,000 | ||||||||||||
Appraisal Management [Member] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | ||||||||||||
Disposition of Transportation Services Business [Member] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Gain/(loss) from sale of discontinued operations, net of tax | 11,000,000 | ||||||||||||
Income/(loss) from sale of discontinued operations, net of tax | $3,900,000 |
Segment_Financial_Information_1
Segment Financial Information (Table) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Statement [Abstract] | |||||||||||
Operating revenue | $345,512,000 | $367,454,000 | $365,970,000 | $326,104,000 | $328,522,000 | $356,581,000 | $368,437,000 | $350,861,000 | $1,405,040,000 | $1,404,401,000 | $1,333,479,000 |
Depreciation and amortization | 138,394,000 | 126,332,000 | 117,108,000 | ||||||||
Operating income/(loss) | 36,158,000 | 77,755,000 | 41,020,000 | 14,825,000 | -19,264,000 | 61,361,000 | 52,980,000 | 47,065,000 | 169,758,000 | 142,142,000 | 170,402,000 |
Equity in earnings/(loss) of affiliates, net of tax | 3,831,000 | 4,032,000 | 3,875,000 | 2,382,000 | 3,510,000 | 5,716,000 | 9,347,000 | 8,788,000 | 14,120,000 | 27,361,000 | 35,983,000 |
Net income/(loss) from continuing operations | 91,008,000 | 100,260,000 | 95,420,000 | ||||||||
Capital expenditures | 87,154,000 | 106,586,000 | 83,734,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Investment in affiliates, net | 103,598,000 | 95,343,000 | 103,598,000 | 95,343,000 | |||||||
Long-lived assets | 3,015,737,000 | 2,441,714,000 | 3,015,737,000 | 2,441,714,000 | |||||||
Total assets | 3,516,362,000 | 3,003,131,000 | 3,516,362,000 | 3,003,131,000 | |||||||
Segment Reporting Information, Assets (Excluding Discontinued Operations Assets) | 3,512,095,000 | 2,964,205,000 | 3,512,095,000 | 2,964,205,000 | |||||||
Domestic Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 1,263,951,000 | 1,302,483,000 | 1,242,181,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | 2,705,307,000 | 2,120,828,000 | 2,705,307,000 | 2,120,828,000 | |||||||
Foreign Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 141,089,000 | 101,918,000 | 91,298,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | 310,430,000 | 320,886,000 | 310,430,000 | 320,886,000 | |||||||
Data and Analytics [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 647,264,000 | 572,169,000 | 544,753,000 | ||||||||
Depreciation and amortization | 98,313,000 | 74,186,000 | 69,567,000 | ||||||||
Operating income/(loss) | 97,654,000 | 100,963,000 | 96,519,000 | ||||||||
Equity in earnings/(loss) of affiliates, net of tax | 49,000 | 1,631,000 | 2,197,000 | ||||||||
Net income/(loss) from continuing operations | 98,975,000 | 110,143,000 | 99,188,000 | ||||||||
Capital expenditures | 56,383,000 | 54,085,000 | 54,147,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Investment in affiliates, net | 27,809,000 | 9,460,000 | 27,809,000 | 9,460,000 | |||||||
Long-lived assets | 1,739,715,000 | 1,176,994,000 | 1,739,715,000 | 1,176,994,000 | |||||||
Total assets | 1,886,478,000 | 1,306,023,000 | 1,886,478,000 | 1,306,023,000 | |||||||
Data and Analytics [Member] | Domestic Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 509,521,000 | 476,048,000 | 460,401,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | 1,429,305,000 | 856,111,000 | 1,429,305,000 | 856,111,000 | |||||||
Data and Analytics [Member] | Foreign Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 137,743,000 | 96,121,000 | 84,352,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | 310,410,000 | 320,883,000 | 310,410,000 | 320,883,000 | |||||||
Technology and Processing Solutions [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 767,567,000 | 843,887,000 | 800,890,000 | ||||||||
Depreciation and amortization | 26,019,000 | 30,780,000 | 24,161,000 | ||||||||
Operating income/(loss) | 139,168,000 | 137,225,000 | 189,700,000 | ||||||||
Equity in earnings/(loss) of affiliates, net of tax | 22,900,000 | 41,638,000 | 55,570,000 | ||||||||
Net income/(loss) from continuing operations | 167,726,000 | 179,622,000 | 245,686,000 | ||||||||
Capital expenditures | 8,336,000 | 20,048,000 | 18,738,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Investment in affiliates, net | 68,547,000 | 78,290,000 | 68,547,000 | 78,290,000 | |||||||
Long-lived assets | 1,161,873,000 | 1,130,237,000 | 1,161,873,000 | 1,130,237,000 | |||||||
Total assets | 1,297,903,000 | 1,257,195,000 | 1,297,903,000 | 1,257,195,000 | |||||||
Technology and Processing Solutions [Member] | Domestic Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 764,251,000 | 838,721,000 | 794,584,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | 1,161,853,000 | 1,130,234,000 | 1,161,853,000 | 1,130,234,000 | |||||||
Technology and Processing Solutions [Member] | Foreign Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 3,316,000 | 5,166,000 | 6,306,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | 20,000 | 3,000 | 20,000 | 3,000 | |||||||
Corporate Segment [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 30,000 | 631,000 | 640,000 | ||||||||
Depreciation and amortization | 14,062,000 | 21,366,000 | 23,515,000 | ||||||||
Operating income/(loss) | -67,064,000 | -96,046,000 | -115,952,000 | ||||||||
Equity in earnings/(loss) of affiliates, net of tax | -8,829,000 | -15,908,000 | -21,784,000 | ||||||||
Net income/(loss) from continuing operations | -163,728,000 | -189,505,000 | -249,589,000 | ||||||||
Capital expenditures | 22,435,000 | 32,453,000 | 10,849,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Investment in affiliates, net | 7,242,000 | 7,593,000 | 7,242,000 | 7,593,000 | |||||||
Long-lived assets | 4,888,730,000 | 4,232,718,000 | 4,888,730,000 | 4,232,718,000 | |||||||
Total assets | 5,102,328,000 | 4,499,268,000 | 5,102,328,000 | 4,499,268,000 | |||||||
Corporate Segment [Member] | Domestic Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 0 | 0 | 0 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | 4,142,791,000 | 3,486,778,000 | 4,142,791,000 | 3,486,778,000 | |||||||
Corporate Segment [Member] | Foreign Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 30,000 | 631,000 | 640,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | 745,939,000 | 745,940,000 | 745,939,000 | 745,940,000 | |||||||
Eliminations [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | -9,821,000 | -12,286,000 | -12,804,000 | ||||||||
Depreciation and amortization | 0 | 0 | -135,000 | ||||||||
Operating income/(loss) | 0 | 0 | 135,000 | ||||||||
Equity in earnings/(loss) of affiliates, net of tax | 0 | 0 | 0 | ||||||||
Net income/(loss) from continuing operations | -11,965,000 | 0 | 135,000 | ||||||||
Capital expenditures | 0 | 0 | 0 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Investment in affiliates, net | 0 | 0 | 0 | 0 | |||||||
Long-lived assets | -4,774,581,000 | -4,098,235,000 | -4,774,581,000 | -4,098,235,000 | |||||||
Total assets | -4,774,614,000 | -4,098,281,000 | -4,774,614,000 | -4,098,281,000 | |||||||
Eliminations [Member] | Domestic Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | -9,821,000 | -12,286,000 | -12,804,000 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | -4,028,642,000 | -3,352,295,000 | -4,028,642,000 | -3,352,295,000 | |||||||
Eliminations [Member] | Foreign Country [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenue | 0 | 0 | 0 | ||||||||
Statement of Financial Position [Abstract] | |||||||||||
Long-lived assets | ($745,939,000) | ($745,940,000) | ($745,939,000) | ($745,940,000) |
Segment_Financial_Information_2
Segment Financial Information (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Data and Analytics [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment Reporting Information Intercompany Revenue | $4.30 | $8.50 | $10.10 |
Segment Reporting Information Intercompany Expense | 5.6 | 0.9 | 1.8 |
Technology and Processing Solutions [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment Reporting Information Intercompany Revenue | 5.5 | 3.3 | 1.2 |
Segment Reporting Information Intercompany Expense | $4.30 | $7.80 | $9.40 |
Guarantor_Subsidiaries_Balance
Guarantor Subsidiaries (Balance Sheet) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Cash and cash equivalents | $104,677 | $134,419 | $149,568 | $258,116 |
Accounts receivable | 214,344 | 215,020 | ||
Other current assets | 181,604 | 211,978 | ||
Property and equipment, net | 368,614 | 197,542 | ||
Goodwill, net | 1,780,758 | 1,468,290 | 1,354,823 | |
Other intangible assets, net | 278,270 | 175,808 | ||
Capitalized data and database cost, net | 333,265 | 330,188 | ||
Investment in affiliates, net | 103,598 | 95,343 | ||
Deferred income tax assets, long-term | 0 | 0 | ||
Restricted cash | 12,360 | 12,050 | ||
Investment in subsidiaries | 0 | 0 | ||
Intercompany receivable | 0 | 0 | ||
Other assets | 138,872 | 162,493 | ||
Total assets | 3,516,362 | 3,003,131 | ||
Current liabilities | 550,590 | 534,091 | ||
Long-term debt, net of current | 1,319,211 | 811,776 | ||
Deferred revenue, net of current | 389,308 | 377,855 | ||
Deferred income tax liabilities, long term | 63,979 | 76,969 | ||
Intercompany payable | 0 | 0 | ||
Other liabilities | 161,084 | 147,865 | ||
Redeemable noncontrolling interests | 18,023 | 10,202 | ||
Total CoreLogic stockholders' equity | 1,014,167 | 1,044,373 | ||
Total liabilities and equity | 3,516,362 | 3,003,131 | ||
Parent [Member] | ||||
Cash and cash equivalents | 61,602 | 104,310 | 111,305 | 229,871 |
Accounts receivable | 0 | 0 | ||
Other current assets | 55,867 | 56,877 | ||
Property and equipment, net | 17,261 | 20,076 | ||
Goodwill, net | 0 | 0 | ||
Other intangible assets, net | 290 | 348 | ||
Capitalized data and database cost, net | 0 | 0 | ||
Investment in affiliates, net | 0 | 0 | ||
Deferred income tax assets, long-term | 49,365 | 58,998 | ||
Restricted cash | 11,035 | 10,335 | ||
Investment in subsidiaries | 2,350,467 | 2,210,416 | ||
Intercompany receivable | 89,780 | 63,647 | ||
Other assets | 105,262 | 118,709 | ||
Total assets | 2,740,929 | 2,643,716 | ||
Current liabilities | 123,196 | 107,340 | ||
Long-term debt, net of current | 1,313,270 | 806,395 | ||
Deferred revenue, net of current | 0 | 0 | ||
Deferred income tax liabilities, long term | 0 | 0 | ||
Intercompany payable | 158,939 | 564,064 | ||
Other liabilities | 131,357 | 121,544 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Total CoreLogic stockholders' equity | 1,014,167 | 1,044,373 | ||
Total liabilities and equity | 2,740,929 | 2,643,716 | ||
Guarantor Subsidiaries [Member] | ||||
Cash and cash equivalents | 8,733 | 0 | 3,471 | 10,076 |
Accounts receivable | 189,138 | 193,256 | ||
Other current assets | 120,531 | 151,066 | ||
Property and equipment, net | 325,638 | 149,848 | ||
Goodwill, net | 1,612,388 | 1,306,471 | ||
Other intangible assets, net | 242,170 | 135,326 | ||
Capitalized data and database cost, net | 254,236 | 249,472 | ||
Investment in affiliates, net | 103,598 | 95,343 | ||
Deferred income tax assets, long-term | 0 | 0 | ||
Restricted cash | 0 | 306 | ||
Investment in subsidiaries | 0 | 0 | ||
Intercompany receivable | 158,939 | 554,894 | ||
Other assets | 31,925 | 41,680 | ||
Total assets | 3,047,296 | 2,877,662 | ||
Current liabilities | 389,170 | 393,738 | ||
Long-term debt, net of current | 5,941 | 5,381 | ||
Deferred revenue, net of current | 389,302 | 377,846 | ||
Deferred income tax liabilities, long term | 91,197 | 111,664 | ||
Intercompany payable | 22,325 | 0 | ||
Other liabilities | 27,930 | 23,050 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Total CoreLogic stockholders' equity | 2,121,431 | 1,965,983 | ||
Total liabilities and equity | 3,047,296 | 2,877,662 | ||
Non-Guarantor Subsidiaries [Member] | ||||
Cash and cash equivalents | 34,342 | 30,109 | 34,792 | 18,169 |
Accounts receivable | 25,206 | 21,764 | ||
Other current assets | 5,206 | 4,228 | ||
Property and equipment, net | 25,715 | 27,618 | ||
Goodwill, net | 168,370 | 161,819 | ||
Other intangible assets, net | 35,810 | 40,134 | ||
Capitalized data and database cost, net | 79,029 | 80,716 | ||
Investment in affiliates, net | 0 | 0 | ||
Deferred income tax assets, long-term | 0 | 0 | ||
Restricted cash | 1,325 | 1,409 | ||
Investment in subsidiaries | 0 | 0 | ||
Intercompany receivable | 0 | 9,170 | ||
Other assets | 1,685 | 2,104 | ||
Total assets | 376,688 | 379,071 | ||
Current liabilities | 38,224 | 33,206 | ||
Long-term debt, net of current | 0 | 0 | ||
Deferred revenue, net of current | 6 | 9 | ||
Deferred income tax liabilities, long term | 22,147 | 24,303 | ||
Intercompany payable | 67,455 | 63,647 | ||
Other liabilities | 1,797 | 3,271 | ||
Redeemable noncontrolling interests | 18,023 | 10,202 | ||
Total CoreLogic stockholders' equity | 229,036 | 244,433 | ||
Total liabilities and equity | 376,688 | 379,071 | ||
Consolidating/Eliminating Adjustments [Member] | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable | 0 | 0 | ||
Other current assets | 0 | -193 | ||
Property and equipment, net | 0 | 0 | ||
Goodwill, net | 0 | 0 | ||
Other intangible assets, net | 0 | |||
Capitalized data and database cost, net | 0 | 0 | ||
Investment in affiliates, net | 0 | 0 | ||
Deferred income tax assets, long-term | -49,365 | -58,998 | ||
Restricted cash | 0 | 0 | ||
Investment in subsidiaries | -2,350,467 | -2,210,416 | ||
Intercompany receivable | -248,719 | -627,711 | ||
Other assets | 0 | 0 | ||
Total assets | -2,648,551 | -2,897,318 | ||
Current liabilities | 0 | -193 | ||
Long-term debt, net of current | 0 | 0 | ||
Deferred revenue, net of current | 0 | 0 | ||
Deferred income tax liabilities, long term | -49,365 | -58,998 | ||
Intercompany payable | -248,719 | -627,711 | ||
Other liabilities | 0 | 0 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Total CoreLogic stockholders' equity | -2,350,467 | -2,210,416 | ||
Total liabilities and equity | ($2,648,551) | ($2,897,318) |
Guarantor_Subsidiaries_Income_
Guarantor Subsidiaries (Income Statement) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Operating revenue | $345,512,000 | $367,454,000 | $365,970,000 | $326,104,000 | $328,522,000 | $356,581,000 | $368,437,000 | $350,861,000 | $1,405,040,000 | $1,404,401,000 | $1,333,479,000 |
Intercompany revenue | 0 | 0 | 0 | ||||||||
Cost of services (exclusive of depreciation and amortization below) | 740,301,000 | 717,205,000 | 669,484,000 | ||||||||
Selling, general and administrative expenses | 351,617,000 | 374,289,000 | 356,605,000 | ||||||||
Depreciation and amortization | 138,394,000 | 126,332,000 | 117,108,000 | ||||||||
Asset Impairment Charges | 4,970,000 | 44,433,000 | 19,880,000 | ||||||||
Operating (loss)/income | 36,158,000 | 77,755,000 | 41,020,000 | 14,825,000 | -19,264,000 | 61,361,000 | 52,980,000 | 47,065,000 | 169,758,000 | 142,142,000 | 170,402,000 |
Total interest expense, net | -66,982,000 | -47,602,000 | -52,473,000 | ||||||||
Gain on investments and other, net | 3,882,000 | 12,032,000 | 4,996,000 | ||||||||
(Benefit)/Provision for income taxes | 29,770,000 | 33,673,000 | 63,488,000 | ||||||||
Equity in earnings/(loss) of affiliates, net of tax | 3,831,000 | 4,032,000 | 3,875,000 | 2,382,000 | 3,510,000 | 5,716,000 | 9,347,000 | 8,788,000 | 14,120,000 | 27,361,000 | 35,983,000 |
Equity in earnings of subsidiary, net of tax | 0 | 0 | 0 | ||||||||
Net income from continuing operations | 91,008,000 | 100,260,000 | 95,420,000 | ||||||||
(Loss)/income from discontinued operations, net of tax | -16,653,000 | 14,423,000 | 12,387,000 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | 112,000 | -7,008,000 | 3,841,000 | ||||||||
Net income/(loss) | 74,467,000 | 107,675,000 | 111,648,000 | ||||||||
Less: Net income/(loss) attributable to noncontrolling interests | 1,267,000 | -53,000 | -645,000 | ||||||||
Net income/(loss) attributable to CoreLogic | 14,665,000 | 45,339,000 | 15,988,000 | -2,792,000 | -13,052,000 | 43,662,000 | 43,550,000 | 33,568,000 | 73,200,000 | 107,728,000 | 112,293,000 |
Net income | 74,467,000 | 107,675,000 | 111,648,000 | ||||||||
Total other comprehensive (loss)/income | -30,197,000 | -38,075,000 | 4,802,000 | ||||||||
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 1,267,000 | -53,000 | -645,000 | ||||||||
Comprehensive income/(loss) attributable to CoreLogic | 43,003,000 | 69,653,000 | 117,095,000 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | -364,000 | 476,000 | 0 | 0 | -212,000 | -5,052,000 | 0 | -1,744,000 | |||
Parent [Member] | |||||||||||
Operating revenue | 0 | 0 | 0 | ||||||||
Intercompany revenue | 0 | 0 | 0 | ||||||||
Cost of services (exclusive of depreciation and amortization below) | 0 | 0 | 0 | ||||||||
Selling, general and administrative expenses | 58,176,000 | 63,205,000 | 65,637,000 | ||||||||
Depreciation and amortization | 4,836,000 | 3,767,000 | 2,937,000 | ||||||||
Asset Impairment Charges | 0 | 0 | 0 | ||||||||
Operating (loss)/income | -63,012,000 | -66,972,000 | -68,574,000 | ||||||||
Total interest expense, net | -65,299,000 | -45,270,000 | -50,222,000 | ||||||||
Gain on investments and other, net | 5,070,000 | 3,785,000 | 3,492,000 | ||||||||
(Benefit)/Provision for income taxes | -43,448,000 | -40,392,000 | -44,908,000 | ||||||||
Equity in earnings/(loss) of affiliates, net of tax | 0 | 0 | 0 | ||||||||
Equity in earnings of subsidiary, net of tax | 152,993,000 | 175,793,000 | 182,689,000 | ||||||||
Net income from continuing operations | 73,200,000 | 107,728,000 | 112,293,000 | ||||||||
(Loss)/income from discontinued operations, net of tax | 0 | 0 | 0 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | 0 | 0 | 0 | ||||||||
Net income/(loss) | 73,200,000 | 107,728,000 | 112,293,000 | ||||||||
Less: Net income/(loss) attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
Net income/(loss) attributable to CoreLogic | 73,200,000 | 107,728,000 | 112,293,000 | ||||||||
Net income | 73,200,000 | 107,728,000 | 112,293,000 | ||||||||
Total other comprehensive (loss)/income | -30,197,000 | -38,075,000 | 4,802,000 | ||||||||
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 0 | 0 | 0 | ||||||||
Comprehensive income/(loss) attributable to CoreLogic | 43,003,000 | 69,653,000 | 117,095,000 | ||||||||
Guarantor Subsidiaries [Member] | |||||||||||
Operating revenue | 1,263,980,000 | 1,303,115,000 | 1,244,136,000 | ||||||||
Intercompany revenue | 0 | 0 | 0 | ||||||||
Cost of services (exclusive of depreciation and amortization below) | 686,630,000 | 679,032,000 | 636,707,000 | ||||||||
Selling, general and administrative expenses | 252,879,000 | 276,236,000 | 257,650,000 | ||||||||
Depreciation and amortization | 107,002,000 | 98,670,000 | 91,173,000 | ||||||||
Asset Impairment Charges | 4,970,000 | 44,433,000 | 19,880,000 | ||||||||
Operating (loss)/income | 212,499,000 | 204,744,000 | 238,726,000 | ||||||||
Total interest expense, net | -627,000 | -2,000 | 88,000 | ||||||||
Gain on investments and other, net | -6,278,000 | 1,250,000 | 1,504,000 | ||||||||
(Benefit)/Provision for income taxes | 73,179,000 | 72,385,000 | 102,058,000 | ||||||||
Equity in earnings/(loss) of affiliates, net of tax | 14,120,000 | 26,566,000 | 35,153,000 | ||||||||
Equity in earnings of subsidiary, net of tax | 0 | 0 | 0 | ||||||||
Net income from continuing operations | 146,535,000 | 160,173,000 | 173,413,000 | ||||||||
(Loss)/income from discontinued operations, net of tax | -16,653,000 | 14,595,000 | 15,298,000 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | -1,424,000 | -8,514,000 | 3,841,000 | ||||||||
Net income/(loss) | 128,458,000 | 166,254,000 | 192,552,000 | ||||||||
Less: Net income/(loss) attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
Net income/(loss) attributable to CoreLogic | 128,458,000 | 166,254,000 | 192,552,000 | ||||||||
Net income | 128,458,000 | 166,254,000 | 192,552,000 | ||||||||
Total other comprehensive (loss)/income | 0 | 0 | 0 | ||||||||
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 0 | 0 | 0 | ||||||||
Comprehensive income/(loss) attributable to CoreLogic | 128,458,000 | 166,254,000 | 192,552,000 | ||||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||
Operating revenue | 141,060,000 | 101,286,000 | 89,343,000 | ||||||||
Intercompany revenue | 637,000 | 631,000 | 1,955,000 | ||||||||
Cost of services (exclusive of depreciation and amortization below) | 53,696,000 | 38,804,000 | 34,732,000 | ||||||||
Selling, general and administrative expenses | 41,174,000 | 34,848,000 | 33,318,000 | ||||||||
Depreciation and amortization | 26,556,000 | 23,895,000 | 22,998,000 | ||||||||
Asset Impairment Charges | 0 | 0 | 0 | ||||||||
Operating (loss)/income | 20,271,000 | 4,370,000 | 250,000 | ||||||||
Total interest expense, net | -1,056,000 | -2,330,000 | -2,339,000 | ||||||||
Gain on investments and other, net | 5,090,000 | 6,997,000 | 0 | ||||||||
(Benefit)/Provision for income taxes | 39,000 | 1,680,000 | 6,338,000 | ||||||||
Equity in earnings/(loss) of affiliates, net of tax | 0 | 795,000 | 830,000 | ||||||||
Equity in earnings of subsidiary, net of tax | 0 | 0 | 0 | ||||||||
Net income from continuing operations | 24,266,000 | 8,152,000 | -7,597,000 | ||||||||
(Loss)/income from discontinued operations, net of tax | 0 | -172,000 | -2,911,000 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | 1,536,000 | 1,506,000 | 0 | ||||||||
Net income/(loss) | 25,802,000 | 9,486,000 | -10,508,000 | ||||||||
Less: Net income/(loss) attributable to noncontrolling interests | 1,267,000 | -53,000 | -645,000 | ||||||||
Net income/(loss) attributable to CoreLogic | 24,535,000 | 9,539,000 | -9,863,000 | ||||||||
Net income | 25,802,000 | 9,486,000 | -10,508,000 | ||||||||
Total other comprehensive (loss)/income | -26,673,000 | -43,337,000 | 5,921,000 | ||||||||
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 1,267,000 | -53,000 | -645,000 | ||||||||
Comprehensive income/(loss) attributable to CoreLogic | -2,138,000 | -33,798,000 | -3,942,000 | ||||||||
Consolidating/Eliminating Adjustments [Member] | |||||||||||
Operating revenue | 0 | 0 | 0 | ||||||||
Intercompany revenue | -637,000 | -631,000 | -1,955,000 | ||||||||
Cost of services (exclusive of depreciation and amortization below) | -25,000 | -631,000 | -1,955,000 | ||||||||
Selling, general and administrative expenses | -612,000 | 0 | 0 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Asset Impairment Charges | 0 | 0 | 0 | ||||||||
Operating (loss)/income | 0 | 0 | 0 | ||||||||
Total interest expense, net | 0 | 0 | 0 | ||||||||
Gain on investments and other, net | 0 | 0 | 0 | ||||||||
(Benefit)/Provision for income taxes | 0 | 0 | 0 | ||||||||
Equity in earnings/(loss) of affiliates, net of tax | 0 | 0 | 0 | ||||||||
Equity in earnings of subsidiary, net of tax | -152,993,000 | -175,793,000 | -182,689,000 | ||||||||
Net income from continuing operations | -152,993,000 | -175,793,000 | -182,689,000 | ||||||||
(Loss)/income from discontinued operations, net of tax | 0 | 0 | 0 | ||||||||
Gain/(loss) from sale of discontinued operations, net of tax | 0 | 0 | 0 | ||||||||
Net income/(loss) | -152,993,000 | -175,793,000 | -182,689,000 | ||||||||
Less: Net income/(loss) attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
Net income/(loss) attributable to CoreLogic | -152,993,000 | -175,793,000 | -182,689,000 | ||||||||
Net income | -152,993,000 | -175,793,000 | -182,689,000 | ||||||||
Total other comprehensive (loss)/income | 26,673,000 | 43,337,000 | -5,921,000 | ||||||||
Less: Comprehensive income/(loss) attributable to the noncontrolling interests | 0 | 0 | 0 | ||||||||
Comprehensive income/(loss) attributable to CoreLogic | ($126,320,000) | ($132,456,000) | ($188,610,000) |
Guarantor_Subsidiaries_Cash_Fl
Guarantor Subsidiaries (Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net cash (used in)/provided by operating activities - continuing operations | $335,593 | $328,220 | $336,651 |
Net cash (used in)/provided by operating activities - discontinued operations | -13,717 | 25,600 | 26,494 |
Total cash (used in)/provided by operating activities | 321,876 | 353,820 | 363,145 |
Cash flows from investing activities: | |||
Purchases of property and equipment | -52,025 | -68,745 | -51,545 |
Purchases of capitalized data and other intangible assets | -35,129 | -37,841 | -32,189 |
Cash paid for acquisitions, net of cash acquired | -694,871 | -92,049 | -78,354 |
Cash received from sale of subsidiary, net | 25,366 | 2,263 | 10,000 |
Purchases of investments | 0 | -2,351 | 0 |
Proceeds from sale of property and equipment | 13,937 | 0 | 1,863 |
Proceeds from sale of investments | 0 | 0 | 8,000 |
Change in restricted cash | -310 | 10,068 | 86 |
Net cash used in investing activities - continuing operations | -743,032 | -188,655 | -142,139 |
Net cash provided by/(used in) investing activities - discontinued operations | 1,536 | 1,862 | -5,203 |
Total cash used in by investing activities | -741,496 | -186,793 | -147,342 |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 690,017 | 51,647 | 50,000 |
Debt issuance costs | -14,042 | -10,436 | 0 |
Repayments of long-term debt | -200,006 | -4,666 | -166,715 |
Shares repurchased and retired | -91,475 | -241,161 | -226,629 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 15,213 | 28,232 | 13,497 |
Minimum tax withholding paid on behalf of employees for restricted stock units | -15,980 | -8,665 | -3,466 |
Distribution to noncontrolling interests | 0 | 0 | -10 |
Tax benefit related to stock options | 6,791 | 5,146 | 935 |
Intercompany loan payments | 0 | 0 | 0 |
Intercompany loan proceeds | 0 | 0 | 0 |
Net cash provided by/(used in) financing activities - continuing operations | 390,518 | -179,903 | -332,388 |
Net cash used in financing activities - discontinued operations | 0 | 0 | -79 |
Total cash provided by/(used in) financing activities | 390,518 | -179,903 | -332,467 |
Effect of Exchange Rate on cash | -625 | -2,116 | -153 |
Net decrease in cash and cash equivalents | -29,727 | -14,992 | -116,817 |
Cash and cash equivalents at beginning of year | 134,419 | 149,568 | 258,116 |
Less: Change in cash and cash equivalents of discontinued operations | -12,181 | 27,462 | 21,212 |
Plus: Cash swept (to)/from discontinued operations | -12,196 | 27,305 | 29,481 |
Cash and cash equivalents at end of year | 104,677 | 134,419 | 149,568 |
Parent [Member] | |||
Cash flows from operating activities: | |||
Net cash (used in)/provided by operating activities - continuing operations | 9,433 | -51,864 | -60,340 |
Net cash (used in)/provided by operating activities - discontinued operations | 0 | 0 | 0 |
Total cash (used in)/provided by operating activities | 9,433 | -51,864 | -60,340 |
Cash flows from investing activities: | |||
Purchases of property and equipment | -1,964 | -8,870 | -3,195 |
Purchases of capitalized data and other intangible assets | 0 | -348 | 0 |
Cash paid for acquisitions, net of cash acquired | 0 | 0 | 0 |
Cash received from sale of subsidiary, net | 0 | 0 | 0 |
Purchases of investments | 0 | ||
Proceeds from sale of property and equipment | 0 | 0 | |
Proceeds from sale of investments | 0 | ||
Change in restricted cash | -700 | 7,964 | -1 |
Net cash used in investing activities - continuing operations | -2,664 | -1,254 | -3,196 |
Net cash provided by/(used in) investing activities - discontinued operations | 0 | 0 | 0 |
Total cash used in by investing activities | -2,664 | -1,254 | -3,196 |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 690,017 | 50,000 | 50,000 |
Debt issuance costs | -14,042 | 0 | |
Repayments of long-term debt | -195,217 | -4,375 | -103,368 |
Shares repurchased and retired | -91,475 | -241,161 | -226,629 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 15,213 | 28,232 | 13,497 |
Minimum tax withholding paid on behalf of employees for restricted stock units | -15,980 | -8,665 | -3,466 |
Distribution to noncontrolling interests | 0 | ||
Tax benefit related to stock options | 6,791 | 5,146 | 935 |
Intercompany loan payments | -610,239 | 0 | -66,765 |
Intercompany loan proceeds | 179,187 | 191,147 | 278,231 |
Net cash provided by/(used in) financing activities - continuing operations | -35,745 | 20,324 | -57,565 |
Net cash used in financing activities - discontinued operations | 0 | 0 | 0 |
Total cash provided by/(used in) financing activities | -35,745 | 20,324 | -57,565 |
Effect of Exchange Rate on cash | 0 | 0 | 0 |
Net decrease in cash and cash equivalents | -28,976 | -32,794 | -121,101 |
Cash and cash equivalents at beginning of year | 104,310 | 111,305 | 229,871 |
Less: Change in cash and cash equivalents of discontinued operations | 0 | 0 | 0 |
Plus: Cash swept (to)/from discontinued operations | -13,732 | 25,799 | 2,535 |
Cash and cash equivalents at end of year | 61,602 | 104,310 | 111,305 |
Guarantor Subsidiaries [Member] | |||
Cash flows from operating activities: | |||
Net cash (used in)/provided by operating activities - continuing operations | 283,316 | 354,004 | 380,064 |
Net cash (used in)/provided by operating activities - discontinued operations | -13,717 | 24,094 | 26,494 |
Total cash (used in)/provided by operating activities | 269,599 | 378,098 | 406,558 |
Cash flows from investing activities: | |||
Purchases of property and equipment | -40,598 | -51,660 | -36,897 |
Purchases of capitalized data and other intangible assets | -30,077 | -23,171 | -28,792 |
Cash paid for acquisitions, net of cash acquired | -665,753 | -92,591 | -78,354 |
Cash received from sale of subsidiary, net | 25,366 | 2,263 | 10,000 |
Purchases of investments | -2,351 | ||
Proceeds from sale of property and equipment | 13,937 | 1,863 | |
Proceeds from sale of investments | 8,000 | ||
Change in restricted cash | 306 | 0 | -184 |
Net cash used in investing activities - continuing operations | -696,819 | -167,510 | -124,364 |
Net cash provided by/(used in) investing activities - discontinued operations | 0 | 1,862 | -5,203 |
Total cash used in by investing activities | -696,819 | -165,648 | -129,567 |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 0 | 1,647 | 0 |
Debt issuance costs | 0 | -10,436 | |
Repayments of long-term debt | -4,789 | -291 | -11,020 |
Shares repurchased and retired | 0 | 0 | 0 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 0 | 0 | 0 |
Minimum tax withholding paid on behalf of employees for restricted stock units | 0 | 0 | 0 |
Distribution to noncontrolling interests | 0 | ||
Tax benefit related to stock options | 0 | 0 | 0 |
Intercompany loan payments | -179,187 | -180,885 | -278,231 |
Intercompany loan proceeds | 606,212 | 0 | 0 |
Net cash provided by/(used in) financing activities - continuing operations | 422,236 | -189,965 | -289,251 |
Net cash used in financing activities - discontinued operations | 0 | 0 | -79 |
Total cash provided by/(used in) financing activities | 422,236 | -189,965 | -289,330 |
Effect of Exchange Rate on cash | 0 | 0 | 0 |
Net decrease in cash and cash equivalents | -4,984 | 22,485 | -12,339 |
Cash and cash equivalents at beginning of year | 0 | 3,471 | 10,076 |
Less: Change in cash and cash equivalents of discontinued operations | -13,717 | 25,956 | 21,212 |
Plus: Cash swept (to)/from discontinued operations | 0 | 0 | 26,946 |
Cash and cash equivalents at end of year | 8,733 | 0 | 3,471 |
Non-Guarantor Subsidiaries [Member] | |||
Cash flows from operating activities: | |||
Net cash (used in)/provided by operating activities - continuing operations | 42,844 | 26,080 | 16,927 |
Net cash (used in)/provided by operating activities - discontinued operations | 0 | 1,506 | 0 |
Total cash (used in)/provided by operating activities | 42,844 | 27,586 | 16,927 |
Cash flows from investing activities: | |||
Purchases of property and equipment | -9,463 | -8,215 | -11,453 |
Purchases of capitalized data and other intangible assets | -5,052 | -14,322 | -3,397 |
Cash paid for acquisitions, net of cash acquired | -29,118 | 542 | 0 |
Cash received from sale of subsidiary, net | 0 | 0 | 0 |
Purchases of investments | 0 | ||
Proceeds from sale of property and equipment | 0 | 0 | |
Proceeds from sale of investments | 0 | ||
Change in restricted cash | 84 | 2,104 | 271 |
Net cash used in investing activities - continuing operations | -43,549 | -19,891 | -14,579 |
Net cash provided by/(used in) investing activities - discontinued operations | 1,536 | 0 | 0 |
Total cash used in by investing activities | -42,013 | -19,891 | -14,579 |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 0 | 0 | 0 |
Debt issuance costs | 0 | 0 | |
Repayments of long-term debt | 0 | 0 | -52,327 |
Shares repurchased and retired | 0 | 0 | 0 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 0 | 0 | 0 |
Minimum tax withholding paid on behalf of employees for restricted stock units | 0 | 0 | 0 |
Distribution to noncontrolling interests | -10 | ||
Tax benefit related to stock options | 0 | 0 | 0 |
Intercompany loan payments | 0 | -10,262 | 0 |
Intercompany loan proceeds | 4,027 | 0 | 66,765 |
Net cash provided by/(used in) financing activities - continuing operations | 4,027 | -10,262 | 14,428 |
Net cash used in financing activities - discontinued operations | 0 | 0 | 0 |
Total cash provided by/(used in) financing activities | 4,027 | -10,262 | 14,428 |
Effect of Exchange Rate on cash | -625 | -2,116 | -153 |
Net decrease in cash and cash equivalents | 4,233 | -4,683 | 16,623 |
Cash and cash equivalents at beginning of year | 30,109 | 34,792 | 18,169 |
Less: Change in cash and cash equivalents of discontinued operations | 1,536 | 1,506 | 0 |
Plus: Cash swept (to)/from discontinued operations | 1,536 | 1,506 | 0 |
Cash and cash equivalents at end of year | 34,342 | 30,109 | 34,792 |
Consolidating/Eliminating Adjustments [Member] | |||
Cash flows from operating activities: | |||
Net cash (used in)/provided by operating activities - continuing operations | 0 | 0 | 0 |
Net cash (used in)/provided by operating activities - discontinued operations | 0 | 0 | 0 |
Total cash (used in)/provided by operating activities | 0 | 0 | 0 |
Cash flows from investing activities: | |||
Purchases of property and equipment | 0 | 0 | 0 |
Purchases of capitalized data and other intangible assets | 0 | 0 | 0 |
Cash paid for acquisitions, net of cash acquired | 0 | 0 | 0 |
Cash received from sale of subsidiary, net | 0 | 0 | 0 |
Purchases of investments | 0 | ||
Proceeds from sale of property and equipment | 0 | 0 | |
Proceeds from sale of investments | 0 | ||
Change in restricted cash | 0 | 0 | 0 |
Net cash used in investing activities - continuing operations | 0 | 0 | 0 |
Net cash provided by/(used in) investing activities - discontinued operations | 0 | 0 | 0 |
Total cash used in by investing activities | 0 | 0 | 0 |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 0 | 0 | 0 |
Debt issuance costs | 0 | 0 | |
Repayments of long-term debt | 0 | 0 | 0 |
Shares repurchased and retired | 0 | 0 | 0 |
Proceeds from issuance of stock related to stock options and employee benefit plans | 0 | 0 | 0 |
Minimum tax withholding paid on behalf of employees for restricted stock units | 0 | 0 | 0 |
Distribution to noncontrolling interests | 0 | ||
Tax benefit related to stock options | 0 | 0 | 0 |
Intercompany loan payments | 789,426 | 191,147 | 344,996 |
Intercompany loan proceeds | -789,426 | -191,147 | -344,996 |
Net cash provided by/(used in) financing activities - continuing operations | 0 | 0 | 0 |
Net cash used in financing activities - discontinued operations | 0 | 0 | 0 |
Total cash provided by/(used in) financing activities | 0 | 0 | 0 |
Effect of Exchange Rate on cash | 0 | 0 | 0 |
Net decrease in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of year | 0 | 0 | 0 |
Less: Change in cash and cash equivalents of discontinued operations | 0 | 0 | 0 |
Plus: Cash swept (to)/from discontinued operations | 0 | 0 | 0 |
Cash and cash equivalents at end of year | $0 | $0 | $0 |
Unaudited_Quarterly_Financial_2
Unaudited Quarterly Financial Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating revenue | $345,512 | $367,454 | $365,970 | $326,104 | $328,522 | $356,581 | $368,437 | $350,861 | $1,405,040 | $1,404,401 | $1,333,479 |
Operating income | 36,158 | 77,755 | 41,020 | 14,825 | -19,264 | 61,361 | 52,980 | 47,065 | 169,758 | 142,142 | 170,402 |
Equity in earnings/(loss) of affiliates, net of tax | 3,831 | 4,032 | 3,875 | 2,382 | 3,510 | 5,716 | 9,347 | 8,788 | 14,120 | 27,361 | 35,983 |
(Loss)/income from continuing operations, net of tax | 16,461 | 49,719 | 26,740 | -3,179 | -9,328 | 43,382 | 35,352 | 30,907 | 89,741 | 100,313 | 96,065 |
(Loss)/income from discontinued operations, net of tax | -1,432 | -4,856 | -10,752 | 387 | -3,512 | 5,332 | 8,198 | 4,405 | -16,653 | 14,423 | 12,387 |
Income/(loss) from sale of discontinued operations, net of tax | -364 | 476 | 0 | 0 | -212 | -5,052 | 0 | -1,744 | |||
Net income/(loss) attributable to CoreLogic | $14,665 | $45,339 | $15,988 | ($2,792) | ($13,052) | $43,662 | $43,550 | $33,568 | $73,200 | $107,728 | $112,293 |
Earnings Per Share, Basic | |||||||||||
Income from continuing operations, net of tax (in dollars per share) | $0.18 | $0.55 | $0.29 | ($0.03) | ($0.10) | $0.46 | $0.37 | $0.32 | $0.99 | $1.05 | $0.93 |
(Loss)/income from discontinued operations, net of tax (in dollars per share) | ($0.02) | ($0.05) | ($0.12) | $0 | ($0.04) | $0.06 | $0.09 | $0.05 | ($0.18) | $0.15 | $0.12 |
(Loss)/gain from sale of discontinued operations, net of tax (in dollars per share) | $0 | $0.01 | $0 | $0 | $0 | ($0.05) | $0 | ($0.02) | $0 | ($0.07) | $0.04 |
Net income (in dollars per share) | $0.16 | $0.51 | $0.17 | ($0.03) | ($0.14) | $0.47 | $0.46 | $0.35 | $0.81 | $1.13 | $1.09 |
Earnings Per Share, Diluted | |||||||||||
Income from continuing operations, net of tax (in dollars per share) | $0.18 | $0.54 | $0.29 | ($0.03) | ($0.10) | $0.45 | $0.36 | $0.31 | $0.97 | $1.03 | $0.92 |
(Loss)/income from discontinued operations, net of tax (in dollars per share) | ($0.02) | ($0.05) | ($0.12) | $0 | ($0.04) | $0.06 | $0.08 | $0.04 | ($0.18) | $0.15 | $0.12 |
(Loss)/gain from sale of discontinued operations, net of tax (in dollars per share) | $0 | $0.01 | $0 | $0 | $0 | ($0.05) | $0 | ($0.02) | $0 | ($0.07) | $0.04 |
Earnings Per Share, Diluted | $0.16 | $0.50 | $0.17 | ($0.03) | ($0.14) | $0.46 | $0.44 | $0.33 | $0.79 | $1.11 | $1.08 |
Weighted-average common shares outstanding: | |||||||||||
Basic (in shares) | 89,597 | 90,518 | 91,750 | 91,433 | 92,946 | 94,773 | 95,516 | 97,113 | 90,825 | 95,088 | 102,913 |
Diluted (in shares) | 91,245 | 91,987 | 93,062 | 91,433 | 92,946 | 96,793 | 97,180 | 99,056 | 92,429 | 97,109 | 104,050 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Allowance for Doubtful Accounts [Member] | ||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||||
Balance at Beginning of Period | $13,045 | $19,511 | $15,634 | |||
Charged to Costs & Expenses | 3,228 | 5,782 | 11,109 | |||
Charged to Other Accounts | 0 | 0 | 0 | |||
Deductions | -5,447 | [1] | -12,248 | [1] | -7,232 | [1] |
Balance at End of Period | 10,826 | 13,045 | 19,511 | |||
Claim Losses [Member] | ||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||||
Balance at Beginning of Period | 26,128 | 26,106 | 22,819 | |||
Charged to Costs & Expenses | 11,138 | 13,998 | 19,216 | |||
Charged to Other Accounts | 0 | 0 | 0 | |||
Deductions | -12,395 | [2] | -13,976 | [2] | -15,929 | [2] |
Balance at End of Period | 24,871 | 26,128 | 26,106 | |||
Valuation Allowance of Deferred Tax Assets [Member] | ||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||||
Balance at Beginning of Period | 24,173 | 30,955 | 29,389 | |||
Charged to Costs & Expenses | -5,506 | -5,295 | 13,134 | |||
Charged to Other Accounts | 3,244 | [3] | -1,487 | [3] | -11,568 | |
Deductions | 0 | 0 | 0 | |||
Balance at End of Period | $21,911 | $24,173 | $30,955 | |||
[1] | Amount represents accounts written off, net of recoveries. | |||||
[2] | Amount represents claim payments, net of recoveries. | |||||
[3] | Amount represents adjustments for acquired net operating loss and credit carryforwards. |