EX-12 2 hrb20150430exhibit12.htm EXHIBIT 12 HRB 2015.04.30 Exhibit 12



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exhibit 12

H&R BLOCK
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
2015

 
2014

 
2013

 
2012

 
2011

 
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations
 
$
742,805

 
$
767,116

 
$
702,011

 
$
576,070

 
$
627,703

Add: Fixed charges
 
116,977

 
125,162

 
146,954

 
164,848

 
169,140

Total earnings before income taxes and fixed charges
 
$
859,782

 
$
892,278

 
$
848,965

 
$
740,918

 
$
796,843

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
45,246

 
$
55,279

 
$
74,297

 
$
85,354

 
$
85,695

Interest on deposits
 
682

 
2,109

 
5,660

 
6,735

 
8,488

Interest portion of net rent expense (a)
 
71,049

 
67,774

 
66,997

 
72,759

 
74,957

Total fixed charges
 
$
116,977

 
$
125,162

 
$
146,954

 
$
164,848

 
$
169,140

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
 
 
 
 
 
 
 
 
 
Including interest on deposits
 
7.4

 
7.1

 
5.8

 
4.5

 
4.7

Excluding interest on deposits
 
7.4

 
7.2

 
6.0

 
4.6

 
4.9

 
 
 
 
 
 
 
 
 
 
 
(a) One-third of net rent expense is the portion deemed representative of the interest factor.

Note: In computing the ratio of earnings to fixed charges: (a) earnings have been based on income from continuing operations before income taxes and fixed charges (exclusive of interest capitalized) and (b) fixed charges consist of interest expense and the estimated interest portion of rents. Interest expense on uncertain tax positions has been excluded from fixed charges, as it is included as a component of income taxes in the consolidated financial statements.