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Condensed Consolidating Financial Statements (Tables)
 9 Months Ended
Jan. 31, 2013
Condensed Consolidating Financial Statements [Abstract]  
Schedule Of Condensed Consolidating Financial Statements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)

 

 

 

 

 

(in 000s)

Three months ended

H&R Block, Inc.

 

Block Financial

 

Other

 

 

 

 

Consolidated

January 31, 2013

(Guarantor)

 

(Issuer)

 

Subsidiaries

 

Eliminations

 

H&R Block

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

$

 -

 

$
58,616 

 

$
414,858 

 

$
(1,495)

 

$
471,979 

Cost of revenues

 

 -

 

 
68,333 

 

 
310,776 

 

 
(1,491)

 

 
377,618 

Selling, general and administrative

 

 -

 

 
11,327 

 

 
175,674 

 

 
(4)

 

 
186,997 

Total expenses

 

 -

 

 
79,660 

 

 
486,450 

 

 
(1,495)

 

 
564,615 

Operating loss

 

 -

 

 
(21,044)

 

 
(71,592)

 

 

 -

 

 
(92,636)

Other income (expense), net

 
(96,268)

 

 
(4,938)

 

 
1,306 

 

 
96,268 

 

 
(3,632)

Loss from continuing operations before tax benefit

 
(96,268)

 

 
(25,982)

 

 
(70,286)

 

 
96,268 

 

 
(96,268)

Income tax benefit

 
(79,353)

 

 
(31,416)

 

 
(47,937)

 

 
79,353 

 

 
(79,353)

Net income (loss) from continuing operations

 
(16,915)

 

 
5,434 

 

 
(22,349)

 

 
16,915 

 

 
(16,915)

Net loss from discontinued operations

 
(793)

 

 
(483)

 

 
(310)

 

 
793 

 

 
(793)

Net income (loss) 

 
(17,708)

 

 
4,951 

 

 
(22,659)

 

 
17,708 

 

 
(17,708)

Other comprehensive income (loss)

 
370 

 

 
(569)

 

 
939 

 

 
(370)

 

 
370 

Comprehensive income (loss)

$
(17,338)

 

$
4,382 

 

$
(21,720)

 

$
17,338 

 

$
(17,338)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

H&R Block, Inc.

 

Block Financial

 

Other

 

 

 

 

Consolidated

January 31, 2012

(Guarantor)

 

(Issuer)

 

Subsidiaries

 

Eliminations

 

H&R Block

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

$

 -

 

$
65,604 

 

$
597,837 

 

$
(161)

 

$
663,280 

Cost of revenues

 

 -

 

 
77,965 

 

 
377,436 

 

 
(161)

 

 
455,240 

Selling, general and administrative

 

 -

 

 
9,705 

 

 
202,031 

 

 

 -

 

 
211,736 

Total expenses

 

 -

 

 
87,670 

 

 
579,467 

 

 
(161)

 

 
666,976 

Operating loss

 

 -

 

 
(22,066)

 

 
18,370 

 

 

 -

 

 
(3,696)

Other income (expense), net

 
(1,026)

 

 
1,301 

 

 
1,369 

 

 
1,026 

 

 
2,670 

Income (loss) from continuing operations before tax benefit

 
(1,026)

 

 
(20,765)

 

 
19,739 

 

 
1,026 

 

 
(1,026)

Income tax (benefit)

 
2,541 

 

 
12,036 

 

 
(9,495)

 

 
(2,541)

 

 
2,541 

Net income (loss) from continuing operations

 
(3,567)

 

 
(32,801)

 

 
29,234 

 

 
3,567 

 

 
(3,567)

Net income (loss) from discontinued operations

 
218 

 

 
(15,695)

 

 
15,913 

 

 
(218)

 

 
218 

Net income (loss) 

 
(3,349)

 

 
(48,496)

 

 
45,147 

 

 
3,349 

 

 
(3,349)

Other comprehensive income (loss)

 
3,050 

 

 
(335)

 

 
3,385 

 

 
(3,050)

 

 
3,050 

Comprehensive income (loss)

$
(299)

 

$
(48,831)

 

$
48,532 

 

$
299 

 

$
(299)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended

H&R Block, Inc.

 

Block Financial

 

Other

 

 

 

 

Consolidated

January 31, 2013

(Guarantor)

 

(Issuer)

 

Subsidiaries

 

Eliminations

 

H&R Block

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

$

 -

 

$
98,531 

 

$
608,773 

 

$
(1,573)

 

$
705,731 

Cost of revenues

 

 -

 

 
137,146 

 

 
647,476 

 

 
(1,569)

 

 
783,053 

Selling, general and administrative

 

 -

 

 
26,288 

 

 
326,518 

 

 
(4)

 

 
352,802 

Total expenses

 

 -

 

 
163,434 

 

 
973,994 

 

 
(1,573)

 

 
1,135,855 

Operating loss

 

 -

 

 
(64,903)

 

 
(365,221)

 

 

 -

 

 
(430,124)

Other income (expense), net

 
(427,825)

 

 
(2,428)

 

 
4,727 

 

 
427,825 

 

 
2,299 

Loss from continuing operations before tax benefit

 
(427,825)

 

 
(67,331)

 

 
(360,494)

 

 
427,825 

 

 
(427,825)

Income tax benefit

 
(204,061)

 

 
(46,374)

 

 
(157,687)

 

 
204,061 

 

 
(204,061)

Net loss from continuing operations

 
(223,764)

 

 
(20,957)

 

 
(202,807)

 

 
223,764 

 

 
(223,764)

Net loss from discontinued operations

 
(6,628)

 

 
(6,503)

 

 
(125)

 

 
6,628 

 

 
(6,628)

Net loss

 
(230,392)

 

 
(27,460)

 

 
(202,932)

 

 
230,392 

 

 
(230,392)

Other comprehensive loss

 
(3,090)

 

 
(315)

 

 
(2,775)

 

 
3,090 

 

 
(3,090)

Comprehensive loss

$
(233,482)

 

$
(27,775)

 

$
(205,707)

 

$
233,482 

 

$
(233,482)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended

H&R Block, Inc.

 

Block Financial

 

Other

 

 

 

 

Consolidated

January 31, 2012

(Guarantor)

 

(Issuer)

 

Subsidiaries

 

Eliminations

 

H&R Block

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

$

 -

 

$
104,937 

 

$
788,321 

 

$
(161)

 

$
893,097 

Cost of revenues

 

 -

 

 
152,605 

 

 
742,993 

 

 
(161)

 

 
895,437 

Selling, general and administrative

 

 -

 

 
24,044 

 

 
388,357 

 

 

 -

 

 
412,401 

Total expenses

 

 -

 

 
176,649 

 

 
1,131,350 

 

 
(161)

 

 
1,307,838 

Operating loss

 

 -

 

 
(71,712)

 

 
(343,029)

 

 

 -

 

 
(414,741)

Other income (expense), net

 
(405,556)

 

 
7,647 

 

 
1,538 

 

 
405,556 

 

 
9,185 

Loss from continuing  operations before tax benefit

 
(405,556)

 

 
(64,065)

 

 
(341,491)

 

 
405,556 

 

 
(405,556)

Income tax benefit

 
(159,821)

 

 
(4,877)

 

 
(154,944)

 

 
159,821 

 

 
(159,821)

Net loss from continuing operations

 
(245,735)

 

 
(59,188)

 

 
(186,547)

 

 
245,735 

 

 
(245,735)

Net loss from discontinued operations

 
(74,436)

 

 
(36,398)

 

 
(38,038)

 

 
74,436 

 

 
(74,436)

Net loss

 
(320,171)

 

 
(95,586)

 

 
(224,585)

 

 
320,171 

 

 
(320,171)

Other comprehensive income (loss)

 
(3,824)

 

 
1,430 

 

 
(5,254)

 

 
3,824 

 

 
(3,824)

Comprehensive loss

$
(323,995)

 

$
(94,156)

 

$
(229,839)

 

$
323,995 

 

$
(323,995)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Balance Sheets

 

 

 

 

 

 

 

 

 

 

 

 

 

(in 000s)

 

H&R Block, Inc.

 

Block Financial

 

Other

 

 

 

 

Consolidated

As of January 31, 2013

(Guarantor)

 

(Issuer)

 

Subsidiaries

 

Eliminations

 

H&R Block

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash & cash equivalents

$

 -

 

$
294,816 

 

$
124,102 

 

$
(533)

 

$
418,385 

Cash & cash equivalents – restricted

 

 -

 

 
1,613 

 

 
36,345 

 

 

 -

 

 
37,958 

Receivables, net

 
963 

 

 
555,418 

 

 
392,779 

 

 

 -

 

 
949,160 

Mortgage loans held for investment

 

 -

 

 
357,887 

 

 

 -

 

 

 -

 

 
357,887 

Intangible assets and goodwill, net

 

 -

 

 

 -

 

 
706,779 

 

 

 -

 

 
706,779 

Investments in subsidiaries

 
2,834,612 

 

 
556 

 

 

 -

 

 
(2,834,612)

 

 
556 

Amounts due from affiliates

 
62 

 

 
496,760 

 

 
2,208,626 

 

 
(2,705,448)

 

 

 -

Other assets

 
8,244 

 

 
630,999 

 

 
822,528 

 

 

 -

 

 
1,461,771 

Total assets

$
2,843,881 

 

$
2,338,049 

 

$
4,291,159 

 

$
(5,540,593)

 

$
3,932,496 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper borrowings

$

 -

 

$
424,967 

 

$

 -

 

$

 -

 

$
424,967 

Customer deposits

 

 -

 

 
1,037,501 

 

 

 -

 

 
(533)

 

 
1,036,968 

Long-term debt

 

 -

 

 
896,848 

 

 
9,877 

 

 

 -

 

 
906,725 

Other liabilities

 
367 

 

 
251,833 

 

 
676,748 

 

 

 -

 

 
928,948 

Amounts due to affiliates

 
2,208,626 

 

 

 -

 

 
496,822 

 

 
(2,705,448)

 

 

 -

Stockholders’ equity

 
634,888 

 

 
(273,100)

 

 
3,107,712 

 

 
(2,834,612)

 

 
634,888 

Total liabilities and stockholders’ equity

$
2,843,881 

 

$
2,338,049 

 

$
4,291,159 

 

$
(5,540,593)

 

$
3,932,496 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

H&R Block, Inc.

 

Block Financial

 

Other

 

 

 

 

Consolidated

As of April 30, 2012

(Guarantor)

 

(Issuer)

 

Subsidiaries

 

Eliminations

 

H&R Block

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash & cash equivalents

$

 -

 

$
515,147 

 

$
1,430,030 

 

$
(843)

 

$
1,944,334 

Cash & cash equivalents – restricted

 

 -

 

 
8,814 

 

 
39,286 

 

 

 -

 

 
48,100 

Receivables, net

 

 -

 

 
90,755 

 

 
103,103 

 

 

 -

 

 
193,858 

Mortgage loans held for investment, net

 

 -

 

 
406,201 

 

 

 -

 

 

 -

 

 
406,201 

Intangible assets and goodwill, net

 

 -

 

 

 -

 

 
692,017 

 

 

 -

 

 
692,017 

Investments in subsidiaries

 
2,525,473 

 

 

 -

 

 
715 

 

 
(2,525,473)

 

 
715 

Amounts due from affiliates (1)

 
188 

 

 
492,851 

 

 
1,430,782 

 

 
(1,923,821)

 

 

 -

Other assets

 
8,887 

 

 
623,032 

 

 
732,423 

 

 

 -

 

 
1,364,342 

Total assets (1)

$
2,534,548 

 

$
2,136,800 

 

$
4,428,356 

 

$
(4,450,137)

 

$
4,649,567 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer deposits

$

 -

 

$
828,392 

 

$

 -

 

$
(843)

 

$
827,549 

Long-term debt

 

 -

 

 
999,325 

 

 
41,224 

 

 

 -

 

 
1,040,549 

Other liabilities (1)

 
22,690 

 

 
277,160 

 

 
1,155,727 

 

 

 -

 

 
1,455,577 

Amounts due to affiliates (1)

 
1,185,966 

 

 
244,816 

 

 
493,039 

 

 
(1,923,821)

 

 

 -

Stockholders’ equity

 
1,325,892 

 

 
(212,893)

 

 
2,738,366 

 

 
(2,525,473)

 

 
1,325,892 

Total liabilities and stockholders’ equity (1)

$
2,534,548 

 

$
2,136,800 

 

$
4,428,356 

 

$
(4,450,137)

 

$
4,649,567 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Amounts as of April 30, 2012 have been restated to conform to the current period presentation, including the presentation of income tax receivables settled with affiliates and the presentation of intercompany receivables and payables as gross, rather than net.

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Statements of Cash Flows

 

 

 

 

 

 

 

 

(in 000s)

Nine months ended

H&R Block, Inc.

 

Block Financial

 

Other

 

 

 

 

Consolidated

January 31, 2013

(Guarantor)

 

(Issuer)

 

Subsidiaries

 

Eliminations

 

H&R Block

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by (used in) operating activities:

$
(158)

 

$
(408,904)

 

$
(902,864)

 

$

 -

 

$
(1,311,926)

Cash flows from investing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases of AFS securities

 

 -

 

 
(108,351)

 

 

 -

 

 

 -

 

 
(108,351)

Maturities of AFS securities

 

 -

 

 
86,756 

 

 
52 

 

 

 -

 

 
86,808 

Mortgage loans held for investment, net

 

 -

 

 
31,205 

 

 

 -

 

 

 -

 

 
31,205 

Purchases of property & equipment, net

 

 -

 

 
(58)

 

 
(96,005)

 

 

 -

 

 
(96,063)

Payments made for acquisitions of businesses and intangibles, net

 

 -

 

 

 -

 

 
(20,662)

 

 

 -

 

 
(20,662)

Proceeds from sales of businesses, net

 

 -

 

 

 -

 

 
1,212 

 

 

 -

 

 
1,212 

Loans made to franchisees

 

 -

 

 
(68,874)

 

 

 -

 

 

 -

 

 
(68,874)

Repayments from franchisees

 

 -

 

 
9,594 

 

 

 -

 

 

 -

 

 
9,594 

Intercompany advances (payments)

 
491,619 

 

 

 -

 

 

 -

 

 
(491,619)

 

 

 -

Other, net

 

 -

 

 
(21,879)

 

 
6,694 

 

 

 -

 

 
(15,185)

Net cash provided by (used in) investing activities

 
491,619 

 

 
(71,607)

 

 
(108,709)

 

 
(491,619)

 

 
(180,316)

Cash flows from financing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repayments of commercial paper

 

 -

 

 
(789,271)

 

 

 -

 

 

 -

 

 
(789,271)

Proceeds from commercial paper

 

 -

 

 
1,214,238 

 

 

 -

 

 

 -

 

 
1,214,238 

Repayments of long-term debt

 

 -

 

 
(605,790)

 

 
(30,831)

 

 

 -

 

 
(636,621)

Proceeds from long-term debt

 

 -

 

 
497,185 

 

 

 -

 

 

 -

 

 
497,185 

Customer banking deposits, net

 

 -

 

 
208,443 

 

 

 -

 

 
310 

 

 
208,753 

Dividends paid

 
(162,692)

 

 

 -

 

 

 -

 

 

 -

 

 
(162,692)

Repurchase of common stock

 
(340,298)

 

 

 -

 

 

 -

 

 

 -

 

 
(340,298)

Proceeds from exercise of stock options, net

 
11,529 

 

 

 -

 

 

 -

 

 

 -

 

 
11,529 

Intercompany advances (payments)

 

 -

 

 
(251,638)

 

 
(239,981)

 

 
491,619 

 

 

 -

Other, net

 

 -

 

 
(12,987)

 

 
(23,126)

 

 

 -

 

 
(36,113)

Net cash provided by (used in) financing activities

 
(491,461)

 

 
260,180 

 

 
(293,938)

 

 
491,929 

 

 
(33,290)

Effects of exchange rates on cash

 

 -

 

 

 -

 

 
(417)

 

 

 -

 

 
(417)

Net decrease in cash

 

 -

 

 
(220,331)

 

 
(1,305,928)

 

 
310 

 

 
(1,525,949)

Cash – beginning of period

 

 -

 

 
515,147 

 

 
1,430,030 

 

 
(843)

 

 
1,944,334 

Cash – end of period

$

 -

 

$
294,816 

 

$
124,102 

 

$
(533)

 

$
418,385 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended

H&R Block, Inc.

 

Block Financial

 

Other

 

 

 

 

Consolidated

January 31, 2012

(Guarantor)

 

(Issuer)

 

Subsidiaries

 

Eliminations

 

H&R Block

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by (used in) operating activities:

$
8,193 

 

$
(448,362)

 

$
(942,602)

 

$

 -

 

$
(1,382,771)

Cash flows from investing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases of AFS securities

 

 -

 

 
(178,014)

 

 

 -

 

 

 -

 

 
(178,014)

Maturities of AFS securities

 

 -

 

 
39,400 

 

 
1,073 

 

 

 -

 

 
40,473 

Mortgage loans held for investment, net

 

 -

 

 
35,460 

 

 

 -

 

 

 -

 

 
35,460 

Purchases of property & equipment, net

 

 -

 

 
(152)

 

 
(71,397)

 

 

 -

 

 
(71,549)

Payments made for acquisitions of businesses and intangibles, net

 

 -

 

 

 -

 

 
(16,022)

 

 

 -

 

 
(16,022)

Proceeds from sales of businesses, net

 

 -

 

 

 -

 

 
533,055 

 

 

 -

 

 
533,055 

Loans made to franchisees

 

 -

 

 
(43,649)

 

 

 -

 

 

 -

 

 
(43,649)

Repayments from franchisees

 

 -

 

 
8,455 

 

 

 -

 

 

 -

 

 
8,455 

Intercompany advances (payments)

 
322,729 

 

 

 -

 

 

 -

 

 
(322,729)

 

 

 -

Other, net

 

 -

 

 
7,830 

 

 
7,491 

 

 

 -

 

 
15,321 

Net cash provided by (used in) investing activities

 
322,729 

 

 
(130,670)

 

 
454,200 

 

 
(322,729)

 

 
323,530 

Cash flows from financing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repayments of commercial paper

 

 -

 

 
(413,221)

 

 

 -

 

 

 -

 

 
(413,221)

Proceeds from commercial paper

 

 -

 

 
644,168 

 

 

 -

 

 

 -

 

 
644,168 

Customer banking deposits, net

 

 -

 

 
735,491 

 

 

 -

 

 
(239)

 

 
735,252 

Dividends paid

 
(150,058)

 

 

 -

 

 

 -

 

 

 -

 

 
(150,058)

Repurchase of common stock

 
(180,566)

 

 

 -

 

 

 -

 

 

 -

 

 
(180,566)

Proceeds from exercise of stock options, net

 
(324)

 

 

 -

 

 

 -

 

 

 -

 

 
(324)

Intercompany advances (payments)

 

 -

 

 
61,747 

 

 
(384,476)

 

 
322,729 

 

 

 -

Other, net

 
26 

 

 
57 

 

 
(31,507)

 

 

 -

 

 
(31,424)

Net cash provided by (used in) financing activities

 
(330,922)

 

 
1,028,242 

 

 
(415,983)

 

 
322,490 

 

 
603,827 

Effects of exchange rates on cash

 

 -

 

 

 -

 

 
(3,446)

 

 

 -

 

 
(3,446)

Net increase (decrease) in cash

 

 -

 

 
449,210 

 

 
(907,831)

 

 
(239)

 

 
(458,860)

Cash – beginning of period

 

 -

 

 
616,238 

 

 
1,061,656 

 

 
(50)

 

 
1,677,844 

Cash – end of period

$

 -

 

$
1,065,448 

 

$
153,825 

 

$
(289)

 

$
1,218,984