CoreLogic Reports Fourth Quarter and Full-Year 2013 Financial

CoreLogic Reports Fourth Quarter and Full-Year 2013 Financial Results

Please refer to the full Form 10-K filing for the complete financial statements and related notes that are an integral part of the financial statements.

CORELOGIC, INC. CONSOLIDATED BALANCE SHEETS UNAUDITED

(in thousands, except par value)	December 31,		December 31,
Assets	2013		2012
Current assets:
Cash and cash equivalents	$	134,741	$	151,986
Marketable securities	22,220		22,168
Accounts receivable (less allowance for doubtful accounts of $12,930 and $19,903 in 2013 and 2012, respectively)	196,282		209,143
Prepaid expenses and other current assets	50,674		48,781
Income tax receivable	13,516		14,084
Deferred income tax assets, current	86,158		104,113
Assets of discontinued operations	134,330		201,270
Total current assets	637,921		751,545
Property and equipment, net	195,645		181,197
Goodwill, net	1,390,674		1,354,823
Other intangible assets, net	175,808		171,034
Capitalized data and database costs, net	330,188		322,289
Investment in affiliates, net	95,343		94,227
Restricted cash	12,050		22,118
Other assets	162,033		137,870
Total assets	$	2,999,662	$	3,035,103
Liabilities and Equity
Current liabilities:
Accounts payable and accrued expenses	$	154,526	$	147,482
Accrued salaries and benefits	101,715		108,369
Deferred revenue, current	223,323		242,229
Current portion of long-term debt	28,154		102
Liabilities of discontinued operations	26,616		29,659
Total current liabilities	534,334		527,841
Long-term debt, net of current	811,776		792,324
Deferred revenue, net of current	377,086		309,418
Deferred income tax liabilities, long-term	74,308		71,361
Other liabilities	147,583		163,213
Total liabilities	1,945,087		1,864,157

Redeemable noncontrolling interests	10,202		—

Equity:
CoreLogic, Inc.'s ("CoreLogic") stockholders' equity:
Preferred stock, $0.00001 par value; 500 shares authorized, no shares issued or outstanding	—		—
Common stock, $0.00001 par value; 180,000 shares authorized; 91,254 and 97,698 shares issued and outstanding as of December 31, 2013 and 2012, respectively	1		1
Additional paid-in capital	672,165		866,720
Retained earnings	425,796		318,094
Accumulated other comprehensive loss	(53,589)		(15,514)
Total CoreLogic stockholders' equity	1,044,373		1,169,301
Noncontrolling interests	—		1,645
Total equity	1,044,373		1,170,946
Total liabilities and equity	$	2,999,662	$	3,035,103

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