|
CORELOGIC, INC. |
||||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||||
|
UNAUDITED |
||||||||||
| For the Six Months Ended | ||||||||||
| June 30, | ||||||||||
| (in thousands) | 2018 | 2017 | ||||||||
| Cash flows from operating activities: | ||||||||||
| Net income | $ | 86,803 | $ | 56,698 | ||||||
| Less: (Loss)/income from discontinued operations, net of tax | (91 | ) | 2,495 | |||||||
| Less: Gain from sale of discontinued operations, net of tax | — | 312 | ||||||||
| Net income from continuing operations | 86,894 | 53,891 | ||||||||
| Adjustments to reconcile net income from continuing operations to net cash provided by operating activities: | ||||||||||
| Depreciation and amortization | 93,536 | 86,343 | ||||||||
| Amortization of debt issuance costs | 2,744 | 2,870 | ||||||||
| Provision for bad debt and claim losses | 7,480 | 7,939 | ||||||||
| Share-based compensation | 19,799 | 20,939 | ||||||||
| Equity in (earnings)/losses of affiliates, net of taxes | (3,070 | ) | 1,004 | |||||||
| Gain on sale of property and equipment | (19 | ) | (231 | ) | ||||||
| Deferred income tax | 8,743 | 6,193 | ||||||||
| (Gain)/loss on investment and other, net | (2,289 | ) | 3,418 | |||||||
| Change in operating assets and liabilities, net of acquisitions: | ||||||||||
| Accounts receivable | 259 | (2,070 | ) | |||||||
| Prepaid expenses and other current assets | (6,075 | ) | (4,161 | ) | ||||||
| Accounts payable and other accrued expenses | (27,234 | ) | (74,371 | ) | ||||||
| Contract liabilities | (13,692 | ) | 24,675 | |||||||
| Income taxes | (9,704 | ) | (13,445 | ) | ||||||
| Dividends received from investments in affiliates | 775 | 1,097 | ||||||||
| Other assets and other liabilities | (9,732 | ) | 22,357 | |||||||
| Net cash provided by operating activities - continuing operations | 148,415 | 136,448 | ||||||||
| Net cash (used in)/provided by operating activities - discontinued operations | (4 | ) | 3,663 | |||||||
| Total cash provided by operating activities | $ | 148,411 | $ | 140,111 | ||||||
| Cash flows from investing activities: | ||||||||||
| Purchases of property and equipment | $ | (21,378 | ) | $ | (20,237 | ) | ||||
| Purchases of capitalized data and other intangible assets | (18,589 | ) | (17,202 | ) | ||||||
| Cash paid for acquisitions, net of cash acquired | (141,056 | ) | — | |||||||
| Purchases of investments | — | (70,000 | ) | |||||||
| Proceeds from sale of property and equipment | 197 | 304 | ||||||||
| Proceeds from investments | 980 | — | ||||||||
| Net cash used in investing activities - continuing operations | (179,846 | ) | (107,135 | ) | ||||||
| Net cash provided by investing activities - discontinued operations | — | — | ||||||||
| Total cash used in investing activities | $ | (179,846 | ) | $ | (107,135 | ) | ||||
| Cash flows from financing activities: | ||||||||||
| Proceeds from long-term debt | $ | 120,095 | $ | 70,000 | ||||||
| Repayment of long-term debt | (68,898 | ) | (35,234 | ) | ||||||
| Proceeds from issuance of shares in connection with share-based compensation | 17,566 | 4,504 | ||||||||
| Payment of tax withholdings related to net share settlements | (11,682 | ) | (13,420 | ) | ||||||
| Shares repurchased and retired | (63,322 | ) | (40,950 | ) | ||||||
| Net cash used in financing activities - continuing operations | (6,241 | ) | (15,100 | ) | ||||||
| Net cash provided by financing activities - discontinued operations | — | — | ||||||||
| Total cash used in financing activities | $ | (6,241 | ) | $ | (15,100 | ) | ||||
| Effect of exchange rate on cash, cash equivalents and restricted cash | 1,379 | (993 | ) | |||||||
| Net change in cash, cash equivalents and restricted cash | (36,297 | ) | 16,883 | |||||||
| Cash, cash equivalents and restricted cash at beginning of period | 132,154 | 89,974 | ||||||||
| Less: Change in cash, cash equivalents and restricted cash - discontinued operations | (4 | ) | 3,663 | |||||||
| Plus: Cash swept (to)/from discontinued operations | (4 | ) | 3,663 | |||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 95,857 | $ | 106,857 | ||||||
CoreLogic Reports Second Quarter 2018 Financial Results
 |  | More GIS News
|
|
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.
RELATED NEWS
Latest Blog Posts
Team ShareCG
by Team ShareCG
Change in payment schedule for Vendors !!!