10-Q Filing

COSTAR GROUP, INC. CIK: 1057352 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001057352-17-000027`
Period End Date	20170331
Filing Date	20170427
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	csgp-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 36 Cash Flow Statement 52 Comprehensive Income 10

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$567.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$421.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$461.72M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.50M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$572.47M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $7,504 and $6,344 as of March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$49.56M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $7,504 and $6,344 as of March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$48.54M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$129.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$129.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.01M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$634.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$627.49M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$9.95M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$9.95M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$8.48M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$7.27M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$85.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$87.57M	USD	Point-in-time
Goodwill	`Goodwill`	$1.25B	USD	Point-in-time
Goodwill	`Goodwill`	$1.25B	USD	Point-in-time
Goodwill	`Goodwill`	$1.26B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$191.47M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$195.97M	USD	Point-in-time
Deposits and other assets	`DepositsAssetsNoncurrent`	$2.10M	USD	Point-in-time
Deposits and other assets	`DepositsAssetsNoncurrent`	$1.95M	USD	Point-in-time
Total assets	`Assets`	$2.19B	USD	Point-in-time
Total assets	`Assets`	$2.20B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$6.96M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$31.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.95M	USD	Point-in-time
Accrued wages and commissions	`EmployeeRelatedLiabilitiesCurrent`	$27.02M	USD	Point-in-time
Accrued wages and commissions	`EmployeeRelatedLiabilitiesCurrent`	$33.80M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$31.09M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$32.30M	USD	Point-in-time
Deferred gain on the sale of building	`Deferredgainonthesaleofbuildingcurrent`	$2.52M	USD	Point-in-time
Deferred gain on the sale of building	`Deferredgainonthesaleofbuildingcurrent`	$2.52M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$14.56M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$3.81M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$1.21M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$1.80M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$41.98M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$39.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$154.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$144.09M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$297.15M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$306.47M	USD	Point-in-time
Deferred gain on the sale of building	`DeferredGainOnSaleOfProperty`	$18.71M	USD	Point-in-time
Deferred gain on the sale of building	`DeferredGainOnSaleOfProperty`	$18.08M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$31.80M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$31.59M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$19.52M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$18.39M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$747.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$741.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$511.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$530.85M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.68B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.65B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.20B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.19B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$226.55M	USD	1 Quarter
Revenues	`Revenues`	$199.74M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$51.35M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$42.90M	USD	1 Quarter
Gross margin	`GrossProfit`	$175.21M	USD	1 Quarter
Gross margin	`GrossProfit`	$156.84M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$75.20M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$76.40M	USD	1 Quarter
Software development	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$17.64M	USD	1 Quarter
Software development	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$22.37M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$27.48M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$33.99M	USD	1 Quarter
Customer base amortization	`AmortizationOfIntangibleAssets`	$6.22M	USD	1 Quarter
Customer base amortization	`AmortizationOfIntangibleAssets`	$4.77M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$137.54M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$126.54M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$30.30M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$37.66M	USD	1 Quarter
Interest and other income	`OtherNonoperatingIncome`	$429.00K	USD	1 Quarter
Interest and other income	`OtherNonoperatingIncome`	$84.00K	USD	1 Quarter
Interest and other expense	`InterestExpense`	$2.69M	USD	1 Quarter
Interest and other expense	`InterestExpense`	$2.51M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$35.41M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$27.88M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$13.28M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.13M	USD	1 Quarter
Net income per share-basic (in dollars per share)	`EarningsPerShareBasic`	$0.69	USD	1 Quarter
Net income per share-basic (in dollars per share)	`EarningsPerShareBasic`	$0.52	USD	1 Quarter
Net income per share-diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.68	USD	1 Quarter
Net income per share-diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.52	USD	1 Quarter
Weighted average outstanding shares-basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.09M	shares	1 Quarter
Weighted average outstanding shares-basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.28M	shares	1 Quarter
Weighted average outstanding shares-diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.56M	shares	1 Quarter
Weighted average outstanding shares-diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.38M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$16.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.13M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.52M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$772.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$811.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$8.33M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$9.36M	USD	1 Quarter
Deferred income tax expense, net	`DeferredIncomeTaxExpenseBenefit`	$1.71M	USD	1 Quarter
Deferred income tax expense, net	`DeferredIncomeTaxExpenseBenefit`	$2.09M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$2.22M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$1.80M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.29M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.76M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$359.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-542.00K	USD	1 Quarter
Deposits and other assets	`IncreaseDecreaseInDeposits`	$239.00K	USD	1 Quarter
Deposits and other assets	`IncreaseDecreaseInDeposits`	$-117.00K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.59M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.41M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.15M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$2.76M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$48.36M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$64.56M	USD	1 Quarter
Proceeds from sale and settlement of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	-	USD	1 Quarter
Proceeds from sale and settlement of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$4.70M	USD	1 Quarter
Purchases of property and equipment and other assets	`PaymentsToAcquireProductiveAssets`	$6.15M	USD	1 Quarter
Purchases of property and equipment and other assets	`PaymentsToAcquireProductiveAssets`	$3.79M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$13.67M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$490.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.82M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$416.00K	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$5.00M	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$35.00M	USD	1 Quarter
Repurchase of restricted stock to satisfy tax withholding obligations	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.78M	USD	1 Quarter
Repurchase of restricted stock to satisfy tax withholding obligations	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.83M	USD	1 Quarter
Proceeds from exercise of stock options and employee stock purchase plan	`ProceedsFromExerciseOfStockOptionsAndEspp`	$1.18M	USD	1 Quarter
Proceeds from exercise of stock options and employee stock purchase plan	`ProceedsFromExerciseOfStockOptionsAndEspp`	$1.23M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-39.55M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.65M	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-215.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$58.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.25M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$39.90M	USD	1 Quarter
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$567.22M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$421.82M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$461.72M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$572.47M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$567.22M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$421.82M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$461.72M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$572.47M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$16.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.13M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$411.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-533.00K	USD	1 Quarter
Net decrease in unrealized loss on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Net decrease in unrealized loss on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$229.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$411.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-304.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$22.54M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.42M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.