Business Wire | Mar 1, 2021 09:00AM EST

CoreLogic Reports Record Full-Year and Fourth Quarter 2020 Revenue, Operating Income, Profit Margins and Cash Flow

Mar. 01, 2021

IRVINE, Calif.--(BUSINESS WIRE)--Mar. 01, 2021--CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today reported financial results for the full-year and fourth quarter ended December 31, 2020.

Full-Year and Fourth Quarter Financial(1) and Business Highlights

Growth Focus - Share Gains, Mega Wins and Pricing Drive Organic Growth Rates

* Full-year revenues totaled $1.642 billion, up 14%. Revenues were up approximately 20%, normalizing for $69 million of revenues attributable to non-core default technology units sold and the AMC transformation, which have no 2020 counterpart, and impacts attributable to COVID-19 of approximately $19 million. * Fourth quarter revenues of $468 million were up 33% over the prior year. PIRM segment organic growth totaled 7%, benefiting from double-digit growth in property insights and international. UWS revenues grew 51% on strong market volumes and market outperformance in tax and flood zone solutions, credit solutions and valuations platforms. * Strong share gains, including mega wins in both segments, drove 2020 full-year organic revenue growth to approximately 8%. * During 2020, secured two mega wins in insurance and spatial solutions including a significant strategic win of a top 5 U.S. insurance carrier for CoreLogic's next-generation integrated insurance solution. * Core mortgage market outperformance in tax and flood zone solutions and double-digit growth in credit solutions and valuations platforms. During 2020, secured two mega wins in tax payment processing and collateral valuations which were successfully onboarded in second half 2020.

Profitability - Operating Leverage, Favorable Mix and Productivity Fuel Expanded Profit and Margins

* Full-year Highlights Operating income of $331 million, up by $209 million Operating leverage and productivity demonstrated by reduction in run-rate operating expenses on significantly higher revenues Net income from continuing operations of $264 million, up by $230 million Diluted EPS from continuing operations of $3.28; Adjusted EPS of $4.26, up 77% Adjusted EBITDA of $638 million, up 45% Adjusted EBITDA margin of 39%, up 830 basis points * Fourth Quarter Highlights Operating income of $120 million, up by $70 million Net income from continuing operations of $86 million, up by $61 million Diluted EPS from continuing operations of $1.10; Adjusted EPS of $1.51, up 113% Adjusted EBITDA of $203 million, up 69% Adjusted EBITDA margin of 43%, up 930 basis points

Liquidity and Capital Return - Record Cash Flow Generation

* Net operating cash provided by continuing operations for the 12 months ended December 31, 2020 was $491 million. Free cash flow ("FCF") for the 12 months ended December 31, 2020 totaled $392 million or 61% of adjusted EBITDA * Debt outstanding on December 31, 2020 of $1.89 billion compared with $1.69 billion on December 31, 2019 * $450.0 million available on revolving credit facility; covenant debt leverage at 2.7 times * Repurchased $500 million of our common shares in the fourth quarter, 2020 full-year repurchases totaled $509 million * Dividends paid to shareholders totaled $86 million for full year 2020

(1) The Company's financial results presented in this release reflect continuing operations. Reseller operations held for sale are presented as discontinued operations for all periods presented.

Discontinued Operations

Consistent with our previously announced intentions, the Company has exited its multi-family tenant screening operations and intends to exit its mortgage credit and borrower verification operations. Although market leaders in their respective business areas, these reseller businesses are not compatible with the Company's long-term strategic imperatives. The divestiture of these operations is expected to improve the Company's revenue growth trends, revenue mix, and significantly enhance profit margins. These reseller operations have been classified as discontinued operations and prior period results have been presented on a comparable basis.

In October 2020, we consummated the sale of a component of our multi-family tenant screening business for $9 million of proceeds. In February 2021, we sold the remainder of our multi-family tenant screening business for proceeds of $51 million.

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CLGX-F

About CoreLogic

CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy, and protect their homes. For more information, please visit www.corelogic.com.

Safe Harbor / Forward Looking Statements

Certain statements made in this press release are forward-looking statements within the meaning of the federal securities laws, including but not limited to those statements related to (i) projections and trends regarding financial performance and operating results, including with respect to revenue growth, margin gains, contract wins, market share gains, new products, and long-term stockholder value, and (ii) our intention to exit our reseller operations. Risks and uncertainties exist that may cause the results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include the risks and uncertainties set forth in Part I, Item 1A of our most recent Annual Report on Form 10-K and in Part II, Item 1A of our subsequent Quarterly Reports on Form 10-Q, as such risk factors may be amended, supplemented, or superseded from time to time by other reports we file with the Securities and Exchange Commission. These risks and uncertainties include but are not limited to: the potential impact of, and any potential developments related to, the proposed acquisition of the Company by Stone Point Capital and Insight Partners, as well as the competing proposed acquisition of the Company by CoStar Group, Inc.; the potential impact of, and any potential developments related to, activist shareholder activity; compromises in the security or stability of our data and systems, including from cyber-based attacks, the unauthorized transmission of confidential information or systems interruptions, which could impair the delivery of our products and services; changes in applicable government legislation, regulations and the level of regulatory scrutiny affecting our clients or us, including with respect to consumer financial services and the use of public records and consumer data; reliance on our top ten clients for a significant portion of our revenue and profit; intense competition in the market against third parties and the in-house capabilities of our clients; risks related to the outsourcing of services and international operations; potential impairment of our substantial goodwill and other intangible assets; the potential impact that the COVID-19 pandemic, or the perception of its effects, may have on our business; our ability to protect proprietary technology rights and avoid infringement of others' proprietary technology rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our various debt agreements; our ability to realize the anticipated benefits of certain acquisitions and the timing thereof; the impact of our adoption of a shareholder rights plan; difficult or uncertain conditions in the mortgage and consumer lending industries and the economy generally; and our ability to attract and retain qualified personnel.. The forward-looking statements speak only as of the date they are made. CoreLogic does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Use of Non-GAAP (Generally Accepted Accounting Principles) Financial Measures

This press release contains certain non-GAAP financial measures, including adjusted EBITDA, adjusted EPS and FCF, which are provided only as supplemental information. Investors should consider these non-GAAP financial measures only in conjunction with their most directly comparable GAAP financial measures. These non-GAAP measures are not in accordance with, or a substitute for, U.S. GAAP. A reconciliation of non-GAAP measures for historical periods to the most directly comparable GAAP financial measures is included in this press release. CoreLogic believes that its presentation of these non-GAAP measures provides useful supplemental information to investors and management regarding CoreLogic's financial condition and results of operations. Adjusted EBITDA is defined as net income from continuing operations adjusted for interest, taxes, depreciation and amortization, share-based compensation, non-operating gains/losses, and other adjustments. Adjusted EPS is defined as diluted income from continuing operations, net of tax per share, adjusted for share-based compensation, amortization of acquisition-related intangibles, non-operating gains/losses, and other adjustments; and assumes an effective tax rate of 26% for 2020 and 25% for 2019. FCF is defined as net cash provided by continuing operating activities, less capital expenditures for purchases of property and equipment, capitalized data, and other intangible assets. Other firms may calculate non-GAAP measures differently than the Company, which limits comparability between companies. Non-GAAP measures are not in accordance with, or a substitute for, U.S. GAAP. Because the non-GAAP measures for future periods included herein are forward-looking, CoreLogic is not able to provide a reconciliation, without unreasonable efforts, of such forward-looking guidance to the most directly comparable GAAP financial measure due to the unknown effect, timing, and potential significance of special charges or gains that are material to the comparable GAAP financial measure.

CoreLogic, Inc.Consolidated Statements of Operations(Unaudited)

For the Three Months For the Year Ended Ended

December 31, December 31,

(in thousands, except 2020 2019 2020 2019per share amounts)

Operating revenue $ 467,642 $ 352,841 $ 1,642,375 $ 1,440,873

Cost of services(exclusive of 157,990 145,144 597,022 632,117 depreciation andamortization)

Selling, general andadministrative 144,370 114,999 537,617 463,787 expenses

Depreciation and 43,806 42,333 174,445 175,100 amortization

Impairment loss 1,081 - 2,309 47,834

Total operating 347,247 302,476 1,311,393 1,318,838 expenses

Operating income 120,395 50,365 330,982 122,035

Interest expense:

Interest income 113 408 724 2,136

Interest expense 16,942 19,156 69,900 78,293

Total interest (16,829) (18,748) (69,176) (76,157) expense, net

Tax indemnification - - - (13,394) release

Gain/(loss) oninvestments and 4,997 1,039 42,151 (1,077) other, net

Income fromcontinuing operationsbefore equity in 108,563 32,656 303,957 31,407 earnings ofaffiliates and incometaxes

Provision/(benefit) 22,133 7,169 41,566 (1,807) for income taxes

Income fromcontinuing operationsbefore equity in 86,430 25,487 262,391 33,214 earnings ofaffiliates

Equity in earnings ofaffiliates, net of - 58 1,859 556 tax

Net income from 86,430 25,545 264,250 33,770 continuing operations

Income fromdiscontinued 6,214 4,537 34,363 15,610 operations, net oftax

Gain from sale ofdiscontinued 2,742 - 2,742 - operations, net oftax

Net income $ 95,386 $ 30,082 $ 301,355 $ 49,380



Basic income per share:

Net income from $ 1.13 $ 0.32 $ 3.36 $ 0.42 continuing operations

Income fromdiscontinued 0.08 0.06 0.44 0.20 operations, net oftax

Gain from sale ofdiscontinued 0.04 - 0.03 - operations, net oftax

Net income $ 1.25 $ 0.38 $ 3.83 $ 0.62

Diluted income per share:

Net income from $ 1.10 $ 0.32 $ 3.28 $ 0.42 continuing operations

Income fromdiscontinued 0.08 0.06 0.43 0.19 operations, net oftax

Gain from sale ofdiscontinued 0.03 - 0.03 - operations, net oftax

Net income $ 1.21 $ 0.38 $ 3.74 $ 0.61

Weighted-averagecommon shares outstanding:

Basic 76,271 79,125 78,542 79,885

Diluted 78,371 80,356 80,495 81,021

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 Balance Sheets(Unaudited)

(in thousands, except par value) December 31, December 31,

Assets 2020 2019

Current assets:

Cash and cash equivalents $ 167,422 $ 104,162

Accounts receivable (less allowances of $9,838 303,202 247,683 and $6,937 in 2020 and 2019, respectively)

Prepaid expenses and other current assets 82,794 53,105

Assets of discontinued operations 202,417 201,986

Total current assets 755,835 606,936

Property and equipment, net 406,114 424,670

Operating lease assets 82,459 65,825

Goodwill, net 2,315,495 2,286,896

Other intangible assets, net 320,921 375,629

Capitalized data and database costs, net 321,211 308,409

Investment in affiliates, net - 16,666

Other assets 81,187 74,250

Total assets $ 4,283,222 $ 4,159,281

Liabilities and Equity

Current liabilities:

Accounts payable and other accrued expenses $ 177,606 $ 139,511

Accrued salaries and benefits 57,499 83,418

Dividend payable - 17,374

Contract liabilities, current 411,821 320,634

Current portion of long-term debt 43,230 56,022

Operating lease liabilities, current 15,566 18,058

Liabilities of discontinued operations 44,677 42,708

Total current liabilities 750,399 677,725

Long-term debt, net of current 1,828,003 1,610,538

Contract liabilities, net of current 617,318 563,190

Deferred income tax liabilities 91,853 92,783

Operating lease liabilities, net of current 99,966 85,139

Other liabilities 172,421 178,696

Total liabilities 3,559,960 3,208,071



Stockholders' Equity:

Preferred stock, $0.00001 par value; 500 shares - - authorized, no shares issued or outstanding

Common stock, $0.00001 par value; 180,000 sharesauthorized; 73,152 and 78,972 shares issued and 1 1 outstanding as of December 31, 2020 and 2019,respectively

Additional paid-in capital - 111,000

Retained earnings 893,404 1,006,992

Accumulated other comprehensive loss (170,143) (166,783)

Total stockholders' equity 723,262 951,210

Total liabilities and equity $ 4,283,222 $ 4,159,281

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 Statements of Cash Flows(Unaudited)

For the Year Ended

December 31,

(in thousands) 2020 2019

Cash flows from operating activities:

Net income $ 301,355 $ 49,380

Less: Income from discontinued operations, net of 34,363 15,610 tax

Less: Gain from sale of discontinued operations, 2,742 - net of tax

Net income from continuing operations 264,250 33,770

Adjustments to reconcile net income fromcontinuing operations to net cash provided by operating activities:

Depreciation and amortization 174,445 175,100

Impairment loss 2,309 47,834

Amortization of debt issuance costs 4,935 5,077

Amortization of operating lease assets 14,855 15,402

Provision for bad debts and claim losses 22,711 15,341

Share-based compensation 45,060 35,171

Equity in earnings of investee, net of taxes (1,859) (556)

Loss on early extinguishment of debt - 1,892

Deferred income tax 23,639 2,069

Impairment loss on investment in affiliates - 1,511

Tax indemnification release - 13,394

Gain on investments and other, net (42,153) (2,329)

Change in operating assets and liabilities, net of acquisitions:

Accounts receivable (55,829) (33,491)

Prepaid expenses and other assets (2,570) (7,300)

Accounts payable and other accrued expenses (21,095) 1,283

Contract liabilities 144,548 50,380

Income taxes (32,397) 22,210

Dividends received from investments in affiliates 109 1,987

Other assets and other liabilities (49,780) (31,413)

Net cash provided by operating activities - 491,178 347,332 continuing operations

Net cash provided by operating activities - 44,594 16,884 discontinued operations

Total cash provided by operating activities $ 535,772 $ 364,216

Cash flows from investing activities:

Purchases of property and equipment $ (57,668) $ (79,265)

Purchases of capitalized data and other (41,442) (35,481) intangible assets

Cash paid for acquisitions, net of cash acquired (12,045) (13,283)

Cash received from sale of business-lines - 4,109

Cash received from sale of discontinued 7,506 - operations

Purchases of investments (1,315) (658)

Proceeds from investments and other 51,358 5,594

Net cash used in investing activities - (53,606) (118,984) continuing operations

Net cash used in investing activities - (12,113) (16,845) discontinued operations

Total cash used in investing activities $ (65,719) $ (135,829)

Cash flows from financing activities:

Proceeds from long-term debt $ 300,000 $ 1,770,000

Debt issuance costs - (9,621)

Debt extinguishment premium - (425)

Repayments of long-term debt (103,197) (1,883,955)

Shares repurchased and retired (509,259) (86,675)

Proceeds from issuance of shares in connection 11,256 10,149 with share-based compensation

Payment of tax withholdings related to net share (22,529) (10,026) settlements

Contingent consideration payments subsequent to - (600) acquisitions

Cash dividends (85,722) -

Net cash used in financing activities - (409,451) (211,153) continuing operations

Net cash used in financing activities - (6) (12) discontinued operations

Total cash used in financing activities $ (409,457) $ (211,165)

Effect of exchange rate on cash, cash equivalents 4,007 230 and restricted cash

Net change in cash, cash equivalents and $ 64,603 $ 17,452 restricted cash

Cash, cash equivalents and restricted cash at 114,678 94,679 beginning of year

Less: Change in cash, cash equivalents and 32,475 27 restricted cash - discontinued operations

Plus: Cash swept from discontinued operations 31,027 2,574

Cash, cash equivalents and restricted cash at end $ 177,833 $ 114,678 of year

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.Reconciliation of Adjusted EBITDA(Unaudited)

For the Three Months Ended December 31, 2020

(in thousands) PIRM UWS CORP ELIM CoreLogic

Net income/(loss) from $ 27,414 $ 150,156 $ (91,140) $ - $ 86,430 continuing operations

Income taxes - - 22,133 - 22,133

Depreciation and 23,807 12,035 7,964 - 43,806 amortization

Interest expense/ 470 (33) 16,392 - 16,829 (income), net

Share-based compensation 1,928 1,737 7,499 - 11,164

Non-operating (gains)/ (2,202) - (3,198) - (5,400) losses

Efficiency investments (205) 251 7,496 - 7,542 and other

Transaction costs 1,723 223 34 - 1,980

Impairment Loss - 1,050 31 - 1,081

Unsolicited Proposal - - 17,098 - 17,098 Related Costs

Adjusted EBITDA $ 52,935 $ 165,419 $ (15,691) $ - $ 202,663

For the Three Months Ended December 31, 2019

(in thousands)

PIRM

UWS

CORP

ELIM

CoreLogic

Net income/(loss) from continuing operations

$

9,377

$

72,709

$

(56,541)

$

-

$

25,545

Income taxes

-

-

7,189

-

7,189

Depreciation and amortization

22,727

11,947

7,659

-

42,333

Interest (income)/expense, net

(88)

67

18,769

-

18,748

Share-based compensation

1,707

1,564

5,882

-

9,153

Impairment loss

-

-

-

-

Non-operating losses

425

6,002

963

-

7,390

Efficiency investments and other

1,023

293

6,228

-

7,544

Transaction costs

1,468

359

72

-

1,899

Amortization of acquired intangibles included in equity in losses of affiliates

77

-

-

77

Adjusted EBITDA

$

36,716

$

92,941

$

(9,779)

$

-

$

119,878

For the Three Months Ended December 31, 2019

(in thousands) PIRM UWS CORP ELIM CoreLogic

Net income/(loss) from $ 9,377 $ 72,709 $ (56,541) $ - $ 25,545 continuing operations

Income taxes - - 7,189 - 7,189

Depreciation and 22,727 11,947 7,659 - 42,333 amortization

Interest (income)/expense, (88) 67 18,769 - 18,748 net

Share-based compensation 1,707 1,564 5,882 - 9,153

Impairment loss - - - -

Non-operating losses 425 6,002 963 - 7,390

Efficiency investments and 1,023 293 6,228 - 7,544 other

Transaction costs 1,468 359 72 - 1,899

Amortization of acquiredintangibles included in 77 - - 77 equity in losses ofaffiliates

Adjusted EBITDA $ 36,716 $ 92,941 $ (9,779) $ - $ 119,878

For the Year Ended December 31, 2020

(in thousands)

PIRM

UWS

CORP

ELIM

CoreLogic

Net income/(loss) from continuing operations

$

129,865

$

431,873

$

(297,488)

$

-

$

264,250

Income taxes

-

-

42,184

-

42,184

Depreciation and amortization

93,640

48,126

32,679

-

174,445

Interest expense/(income), net

1,760

(56)

67,472

-

69,176

Share-based compensation

7,886

7,607

29,567

45,060

Impairment loss

-

2,278

31

-

2,309

Non-operating (gains)/losses

(35,425)

(128)

(5,464)

-

(41,017)

Efficiency investments

(2,286)

1,460

26,211

-

25,385

Transaction costs

300

905

1,533

-

2,738

Unsolicited Proposal Related Costs

-

-

$

53,846

-

53,846

Adjusted EBITDA

$

195,740

$

492,065

$

(49,429)

$

-

$

638,376

For the Year Ended December 31, 2020

(in thousands) PIRM UWS CORP ELIM CoreLogic

Net income/(loss) from $ 129,865 $ 431,873 $ (297,488) $ - $ 264,250 continuing operations

Income taxes - - 42,184 - 42,184

Depreciation and 93,640 48,126 32,679 - 174,445 amortization

Interest expense/ 1,760 (56) 67,472 - 69,176 (income), net

Share-based 7,886 7,607 29,567 45,060 compensation

Impairment loss - 2,278 31 - 2,309

Non-operating (gains)/ (35,425) (128) (5,464) - (41,017) losses

Efficiency investments (2,286) 1,460 26,211 - 25,385

Transaction costs 300 905 1,533 - 2,738

Unsolicited Proposal - - $ 53,846 - 53,846 Related Costs

Adjusted EBITDA $ 195,740 $ 492,065 $ (49,429) $ - $ 638,376

For the Year Ended December 31, 2019

(in thousands)

PIRM

UWS

CORP

ELIM

CoreLogic

Net income/(loss) from continuing operations

$

47,759

$

194,454

$

(208,443)

$

-

$

33,770

Income taxes

-

-

(1,622)

-

(1,622)

Depreciation and amortization

94,862

51,337

28,901

-

175,100

Interest expense, net

37

269

75,851

-

76,157

Share-based compensation

6,309

6,079

22,783

-

35,171

Impairment loss

-

47,834

-

-

47,834

Non-operating gains

6,725

6,279

13,738

-

26,742

Efficiency investments

3,471

6,484

29,562

-

39,517

Transaction costs

6,448

359

392

-

7,199

Amortization of acquired intangibles included in equity in earnings of affiliates

307

-

-

-

307

Adjusted EBITDA

$

165,918

$

313,095

$

(38,838)

$

-

$

440,175

CoreLogic, Inc.Reconciliation of Adjusted EPS(Unaudited)

For the Year Ended December 31, 2019

(in thousands) PIRM UWS CORP ELIM CoreLogic

Net income/(loss) from $ 47,759 $ 194,454 $ (208,443) $ - $ 33,770 continuing operations

Income taxes - - (1,622) - (1,622)

Depreciation and 94,862 51,337 28,901 - 175,100 amortization

Interest expense, net 37 269 75,851 - 76,157

Share-based 6,309 6,079 22,783 - 35,171 compensation

Impairment loss - 47,834 - - 47,834

Non-operating gains 6,725 6,279 13,738 - 26,742

Efficiency investments 3,471 6,484 29,562 - 39,517

Transaction costs 6,448 359 392 - 7,199

Amortization ofacquired intangibles 307 - - - 307 included in equity inearnings of affiliates

Adjusted EBITDA $ 165,918 $ 313,095 $ (38,838) $ - $ 440,175

CoreLogic, Inc.Reconciliation of Adjusted EPS(Unaudited)

For the Three Months Ended December 31,

(Diluted income per share) 2020 2019

Net income from continuing operations $ 1.10 $ 0.32

Share-based compensation 0.14 0.11

Non-operating (gains)/losses (0.07) 0.09

Efficiency investments and other 0.10 0.09

Impairment loss 0.01 -

Transaction costs 0.03 0.02

Depreciation and amortization of acquired 0.22 0.21 software and intangibles

Unsolicited proposal related costs 0.22 -

Income tax effect on adjustments (0.24) (0.13)

Adjusted EPS $ 1.51 $ 0.71

For the Year Ended December 31,

(Diluted income per share)

2020

2019

Net income from continuing operations

$

3.28

$

0.42

Share-based compensation

0.56

0.43

Non-operating (gains)/losses

(0.51)

0.33

Efficiency investments

0.32

0.49

Impairment loss

0.03

0.59

Transaction costs

0.03

0.09

Depreciation and amortization of acquired software and intangibles

0.85

0.89

Amortization of acquired intangibles included in equity in earnings of affiliates

-

-

Unsolicited proposal related costs

0.67

-

Income tax effect on adjustments

(0.97)

(0.83)

Adjusted EPS

$

4.26

$

2.41

CoreLogic, Inc.Reconciliation to Free Cash Flow(Unaudited)

For the Year Ended December 31,

(Diluted income per share) 2020 2019

Net income from continuing operations $ 3.28 $ 0.42

Share-based compensation 0.56 0.43

Non-operating (gains)/losses (0.51) 0.33

Efficiency investments 0.32 0.49

Impairment loss 0.03 0.59

Transaction costs 0.03 0.09

Depreciation and amortization of acquired software and 0.85 0.89 intangibles

Amortization of acquired intangibles included in equity - - in earnings of affiliates

Unsolicited proposal related costs 0.67 -

Income tax effect on adjustments (0.97) (0.83)

Adjusted EPS $ 4.26 $ 2.41

CoreLogic, Inc.Reconciliation to Free Cash Flow(Unaudited)

(in thousands) For the Year Ended December 31, 2020

Net cash provided by operating activities - $ 491,178 continuing operations

Purchases of property and equipment (57,668)

Purchases of capitalized data and other (41,442) intangible assets

Free Cash Flow $ 392,068

View source version on businesswire.com: https://www.businesswire.com/news/home/20210301005545/en/

CONTACT: Investor Contact: Dan Smith, office phone: 703-610-5410, e-mail: danlsmith@corelogic.com

CONTACT: Media Contact: George Sard, Sard Verbinnen & Co, office phone: 212-687-8080, e-mail: GSard@SARDVERB.com