CoreLogic Reports First Quarter 2018 Financial Results

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

 

CORELOGIC, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

UNAUDITED

 
(in thousands, except par value)    

March 31,

 

December 31,

Assets 2018 2017
Current assets:
Cash and cash equivalents $ 123,698 $ 118,804
Accounts receivable (less allowance for doubtful accounts of $6,946 and $8,229 as of March 31, 2018 and December 31, 2017, respectively) 244,046 256,595
Prepaid expenses and other current assets 45,202 47,220
Income tax receivable 8,053   7,649  
Total current assets 420,999 430,268
Property and equipment, net 443,869 447,659
Goodwill, net 2,262,081 2,250,599
Other intangible assets, net 461,781 475,613
Capitalized data and database costs, net 329,146 329,403
Investment in affiliates, net 38,525 38,989
Deferred income tax assets 57 366
Other assets 110,721   104,516  
Total assets $ 4,067,179   $ 4,077,413  
Liabilities and Equity
Current liabilities:
Accounts payable and other accrued expenses $ 171,030 $ 145,655
Accrued salaries and benefits 76,146 93,717
Contract liabilities, current 310,590 303,948
Current portion of long-term debt 49,699   70,046  
Total current liabilities 607,465 613,366
Long-term debt, net of current 1,660,241 1,683,524
Contract liabilities, net of current 527,791 504,900
Deferred income tax liabilities 103,695 102,571
Other liabilities 159,978   165,176  
Total liabilities 3,059,170 3,069,537
 
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; 81,636 and 80,885 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively 1 1
Additional paid-in capital 219,594 224,455
Retained earnings 881,798 877,111
Accumulated other comprehensive loss (93,384 ) (93,691 )
Total stockholders' equity 1,008,009   1,007,876  
Total liabilities and equity $ 4,067,179   $ 4,077,413  
 

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