CORELOGIC, INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

UNAUDITED

For the Twelve Months Ended

December 31,

(in thousands)

2013

2012

Cash flows from operating activities:

Net income

$

107,675

$

111,648

Less: (Loss)/income from discontinued operations, net of tax

(15,464)

17,623

Less: (Loss)/gain from sale of discontinued operations, net of tax

(7,008)

3,841

Income from continuing operations, net of tax

130,147

90,184

Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:

Depreciation and amortization

127,020

121,784

Provision for bad debts and claim losses

13,739

19,540

Share-based compensation

26,613

20,684

Tax benefit related to stock options

(5,146)

(935)

Equity in earnings of investee, net of taxes

(27,361)

(35,983)

Loss on sale of property

—

951

Loss on early extinguishment of debt

—

326

Deferred income tax

12,090

34,678

(Gain)/loss on investments and other, net

(12,032)

2,516

Change in operating assets and liabilities, net of acquisitions:

Accounts receivable

21,196

(40,610)

Prepaid expenses and other assets

(935)

4,055

Accounts payable and accrued expenses

(9,652)

61,408

Deferred revenue

47,123

10,824

Income taxes

(27,543)

(15,707)

Dividends received from investments in affiliates

36,680

70,666

Other assets and other liabilities

(29,526)

(24,436)

Net cash provided by operating activities - continuing operations

302,413

319,945

Net cash provided by operating activities - discontinued operations

51,408

43,200

Total cash provided by operating activities

$

353,821

$

363,145

Cash flows from investing activities:

Purchases of property and equipment

$

(68,740)

$

(48,266)

Purchases of capitalized data and other intangible assets

(37,841)

(32,189)

Cash paid for acquisitions, net of cash acquired

(92,049)

(78,354)

Cash received from sale of subsidiary, net

2,263

10,000

Purchases of investments

(2,351)

—

Proceeds from sale of property and equipment

—

1,863

Proceeds from sale of investments

—

8,000

Change in restricted cash

10,068

86

Net cash used in investing activities - continuing operations

(188,650)

(138,860)

Net cash provided by/(used in) investing activities - discontinued operations

1,857

(8,482)

Total cash used in investing activities

$

(186,793)

$

(147,342)

Cash flows from financing activities:

Proceeds from long-term debt

$

51,647

$

50,000

Debt issuance costs

(10,436)

—

Repayments of long-term debt

(4,666)

(166,715)

Shares repurchased and retired

(241,161)

(226,629)

Proceeds from issuance of stock related to stock options and employee benefit plans

28,232

13,497

Minimum tax withholding paid on behalf of employees for restricted stock units

(8,665)

(3,466)

Distribution to noncontrolling interests

—

(10)

Tax benefit related to stock options

5,146

935

Net cash used in financing activities - continuing operations

(179,903)

(332,388)

Net cash used in financing activities - discontinued operations

—

(79)

Total cash used in financing activities

$

(179,903)

$

(332,467)

Effect of Exchange Rate on cash

(2,116)

(153)

Net decrease in cash and cash equivalents

(14,991)

(116,817)

Cash and cash equivalents at beginning of year

151,986

260,029

Less: Change in cash and cash equivalents of discontinued operations

53,265

34,639

Plus: Cash swept from discontinued operations

51,011

43,413

Cash and cash equivalents at end of year

$

134,741

$

151,986

Supplemental disclosures of cash flow information:

Cash paid for interest

$

46,432

$

51,828

Cash paid for income taxes

$

71,055

$

71,283

Cash refunds from income taxes

$

14,096

$

18,330