CoreLogic Reports Fourth Quarter and Full-Year 2013 Financial Results

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

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



« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »



Review Article Be the first to review this article
Featured Video
Editorial
Jobs
Director, Industrial Machinery Solutions- SISW PLM for Siemens AG at Livonia, Michigan
Product Design Engineer - Softgoods for Apple Inc at Cupertino, California
GIS Developer for City of Ithaca at ithaca, New York
Senior Highway Engineer for RS&H at Jacksonville, Florida
GIS Business Development Professional for Surveying And Mapping, LLC at , Any State in the USA
ASIC Architects and Hardware Engineers at D. E. Shaw Research for D. E. Shaw Research at New York, New York
Upcoming Events
AeroDef Manufacturing 2021 at (Long Beach Convention Center Long Beach CA - Nov 16 - 18, 2021
Westec 2021 at Long Beach Convention Center Long Beach CA - Nov 16 - 18, 2021
3D Collaboration & Interoperability Congress at Golden CO - Feb 21 - 24, 2022
IMTS 2022 at McCormick Place Chicago IL - Sep 12 - 17, 2022



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise