Revenue Recognition

12 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

NOTE 2: REVENUE RECOGNITION

The majority of our revenues are from our U.S. tax services business. The following table disaggregates our U.S. tax services revenues by major service line, with revenues from our international tax services businesses and from Wave included as separate lines:

							(in 000s)
	Year Ended June 30, 2022		Two Months Ended June 30, 2021 (Transition Period)		Year Ended April 30, 2021		Year Ended April 30, 2020
Revenues:
U.S. assisted tax preparation	$	2,094,612	$	259,527	$	2,035,107	$	1,533,303
U.S. royalties	225,242		29,659		226,253		193,411
U.S. DIY tax preparation	319,086		76,106		313,055		208,901
International	231,335		22,071		249,868		180,065
Refund Transfers	162,893		14,269		163,329		154,687
Emerald Card®	125,444		19,193		136,717		92,737
Peace of Mind® Extended Service Plan	94,637		20,231		98,882		105,185
Tax Identity Shield®	39,114		3,928		40,624		31,797
Interest and fee income on Emerald AdvanceSM	43,981		299		53,430		60,867
Wave	80,965		12,481		58,277		36,711
Other	45,961		8,342		38,445		42,056
Total revenues	$	3,463,270	$	466,106	$	3,413,987	$	2,639,720

Changes in the balances of deferred revenue for POM are as follows:

							(in 000s)
	POM Deferred Revenue
	Year Ended June 30, 2022		Two Months Ended June 30, 2021 (Transition Period)		Year Ended April 30, 2021		Year Ended April 30, 2020
Balance, beginning of the period	$	172,759	$	183,871	$	183,685	$	212,511
Amounts deferred	110,679		12,464		115,114		95,032
Amounts recognized on previous deferrals	(109,952)		(23,576)		(114,928)		(123,858)
Balance, end of the period	$	173,486	$	172,759	$	183,871	$	183,685

Changes in the balances of deferred wages for POM are as follows:

							(in 000s)
	POM Deferred Wages
	Year Ended June 30, 2022		Two Months Ended June 30, 2021 (Transition Period)		Year Ended April 30, 2021		Year Ended April 30, 2020
Balance, beginning of the period	$	17,867	$	20,169	$	21,618	$	27,306
Amounts deferred	12,668		8		11,367		10,708
Amounts recognized on previous deferrals	(11,040)		(2,310)		(12,816)		(16,396)
Balance, end of the period	$	19,495	$	17,867	$	20,169	$	21,618

As of June 30, 2022, deferred revenue related to POM was $173.5 million. We expect that $102.5 million will be recognized over the next twelve months, while the remaining balance will be recognized over the following five years. POM deferred revenues are included in deferred revenue and other liabilities in the consolidated balance sheets. POM deferred wages are included in prepaid expenses and other current assets or other noncurrent assets.

As of June 30, 2022, June 30, 2021 and April 30, 2021, TIS deferred revenue was $25.8 million, $28.3 million, and $28.9 million, respectively. The related liabilities are included in deferred revenue and other current liabilities in the consolidated balance sheets. All deferred revenue related to TIS as of June 30, 2022 will be recognized by April 2023.

A significant portion of our accounts receivable balances arise from services and products that we provide to our customers, with the exception of those related to EAs, which arise from purchased participation interests with our bank partner. The majority of our receivables are related to our RT product. Generally the prices of our services and products are fixed and determinable at the time of sale. For our RT product, we record a receivable for our fees which is then collected at the time the IRS issues the client’s refund. Our receivables from customers are generally collected on a periodic basis during and subsequent to the tax season. See note 4 for our accounts receivable balances.