CoreLogic, Inc.
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For the Six Months
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(in thousands) |
2020 |
|
2019 |
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Cash flows from operating activities: |
|
|
|
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Net income/(loss) |
$ |
92,824 |
|
|
$ |
(3,885) |
|
|
Less: Income/(loss) from discontinued operations, net of tax |
13 |
|
|
(94) |
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Net income/(loss) from continuing operations |
92,811 |
|
|
(3,791) |
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Adjustments to reconcile net income from continuing operations to net cash provided by operating activities: |
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|
|
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Depreciation and amortization |
93,544 |
|
|
96,325 |
|
|||
Amortization of debt issuance costs |
2,493 |
|
|
2,583 |
|
|||
Amortization of operating lease assets |
7,284 |
|
|
7,923 |
|
|||
Impairment loss |
1,228 |
|
|
47,834 |
|
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Provision for bad debt and claim losses |
7,893 |
|
|
7,577 |
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Share-based compensation |
21,838 |
|
|
17,755 |
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Equity in (earnings)/losses of affiliates, net of taxes |
(888) |
|
|
108 |
|
|||
Loss on early extinguishment of debt |
— |
|
|
1,453 |
|
|||
Deferred income tax |
3,087 |
|
|
(8,291) |
|
|||
| (Gain)/loss on investments and other, net |
(4,089) |
|
|
2,150 |
|
|||
| Tax indemnification release |
— |
|
|
13,394 |
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| Change in operating assets and liabilities, net of acquisitions: |
|
|
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| Accounts receivable |
(9,545) |
|
|
(38,845) |
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| Prepaid expenses and other current assets |
(4,767) |
|
|
(6,189) |
|
|||
| Accounts payable and other accrued expenses |
4,889 |
|
|
(24,962) |
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| Contract liabilities |
66,786 |
|
|
12,329 |
|
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| Income taxes |
(7,893) |
|
|
15,890 |
|
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| Dividends received from investments in affiliates |
109 |
|
|
— |
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| Other assets and other liabilities |
(31,660) |
|
|
(22,649) |
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| Net cash provided by operating activities - continuing operations |
243,120 |
|
|
120,594 |
|
|||
| Net cash provided by operating activities - discontinued operations |
18 |
|
|
— |
|
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| Total cash provided by operating activities |
$ |
243,138 |
|
|
$ |
120,594 |
|
|
| Cash flows from investing activities: |
|
|
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| Purchases of property and equipment |
$ |
(31,855) |
|
|
$ |
(44,714) |
|
|
| Purchases of capitalized data and other intangible assets |
(18,535) |
|
|
(18,307) |
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| Cash paid for acquisitions, net of cash acquired |
(12,046) |
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|
(41) |
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| Purchases of investments |
(631) |
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|
(658) |
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| Cash received from sale of business-lines |
— |
|
|
1,082 |
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| Proceeds from investments and other |
2,281 |
|
|
1,157 |
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| Net cash used in investing activities - continuing operations |
(60,786) |
|
|
(61,481) |
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| Net cash provided by investing activities - discontinued operations |
— |
|
|
— |
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| Total cash used in investing activities |
$ |
(60,786) |
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|
$ |
(61,481) |
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|
| Cash flows from financing activities: |
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| Proceeds from long-term debt |
$ |
— |
|
|
$ |
1,770,000 |
|
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| Debt issuance costs |
— |
|
|
(9,621) |
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| Repayment of long-term debt |
(101,680) |
|
|
(1,789,702) |
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| Proceeds from issuance of shares in connection with share-based compensation |
5,785 |
|
|
6,559 |
|
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| Payment of tax withholdings related to net share settlements |
(9,346) |
|
|
(9,267) |
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| Shares repurchased and retired |
(9,273) |
|
|
(29,030) |
|
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| Dividends paid |
(34,839) |
|
|
— |
|
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| Contingent consideration payments subsequent to acquisitions |
— |
|
|
(600) |
|
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| Net cash used in financing activities - continuing operations |
(149,353) |
|
|
(61,661) |
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| Net cash provided by financing activities - discontinued operations |
— |
|
|
— |
|
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| Total cash used in financing activities |
$ |
(149,353) |
|
|
$ |
(61,661) |
|
|
| Effect of exchange rate on cash, cash equivalents, and restricted cash |
(1,553) |
|
|
26 |
|
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| Net change in cash, cash equivalents, and restricted cash |
31,446 |
|
|
(2,522) |
|
|||
| Cash, cash equivalents, and restricted cash at beginning of period |
115,702 |
|
|
98,250 |
|
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| Less: Change in cash, cash equivalents, and restricted cash - discontinued operations |
18 |
|
|
— |
|
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| Plus: Cash swept from discontinued operations |
18 |
|
|
— |
|
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| Cash, cash equivalents, and restricted cash at end of period |
$ |
147,148 |
|
|
$ |
95,728 |
|
|
CoreLogic Delivers Strong Second Quarter Revenue and Profit Growth and Record Free Cash Flow; Raises Full-year 2020 Financial Guidance
 |  | More GIS News
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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.
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