CoreLogic Reports Second Quarter 2019 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)	June 30,			December 31,
Assets	2019			2018
Current assets:
Cash and cash equivalents	$	82,042		$	85,271
Accounts receivable (less allowance for doubtful accounts of $6,567 and $5,742 as of June 30, 2019 and December 31, 2018, respectively)	279,171			242,814
Prepaid expenses and other current assets	55,923			50,136
Income tax receivable	2,996			25,299
Total current assets	420,132			403,520
Property and equipment, net	448,617			456,497
Operating lease assets	61,910			—
Goodwill, net	2,395,412			2,391,954
Other intangible assets, net	401,071			468,405
Capitalized data and database costs, net	325,060			324,049
Investment in affiliates, net	22,284			22,429
Other assets	76,026			102,136
Total assets	$	4,150,512		$	4,168,990
Liabilities and Equity
Current liabilities:
Accounts payable and other accrued expenses	$	152,394		$	166,258
Accrued salaries and benefits	67,795			84,940
Contract liabilities, current	320,580			308,959
Current portion of long-term debt	90,115			26,935
Operating lease liabilities, current	16,473			—
Total current liabilities	647,357			587,092
Long-term debt, net of current	1,667,021			1,752,241
Contract liabilities, net of current	524,650			524,069
Deferred income tax liabilities	105,364			124,968
Operating lease liabilities, net of current	80,268			—
Other liabilities	172,360			180,122
Total liabilities	3,197,020			3,168,492

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; 80,133 and 80,092 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	1			1
Additional paid-in capital	146,887			160,870
Retained earnings	971,490			975,375
Accumulated other comprehensive loss	(164,886		)	(135,748		)
Total stockholders' equity	953,492			1,000,498
Noncontrolling interests	—			—
Total equity	953,492			1,000,498
Total liabilities and equity	$	4,150,512		$	4,168,990

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