HR Block 2005 Annual Report Download - page 139

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As Restated As Reported As Restated As Reported As Restated
Fiscal Year 2004 Quarter Ended January 31, 2004 October 31, 2003 October 31, 2003 July 31, 2003 July 31, 2003
Revenues $ 974,520 $ 568,872 $ 573,267 $ 495,384 $ 499,158
Income before taxes 181,406 17,134 15,390 18,829 16,710
Income taxes 69,782 6,758 5,920 7,310 6,428
Net income before change in accounting
principle 111,624 10,376 9,470 11,519 10,282
Cumulative effect of change in accounting
principle – – – (6,359) (6,359)
Net income $ 111,624 $ 10,376 $ 9,470 $ 5,160 $ 3,923
Basic earnings per share:
Before change in accounting principle $ .32 $ .03 $ .03 $ .03 $ .03
Net income .32 .03 .03 .01 .01
Diluted earnings per share:
Before change in accounting principle $ .31 $ .03 $ .03 $ .03 $ .03
Net income .31 .03 .03 .01 .01
We restated our previously issued consolidated financial restatement issue. The following is a summary of the impact of
statements, including each of the quarters in the nine months the restatement on our quarterly consolidated income statements
ended January 31, 2005 and the fiscal years ended April 30, 2004 for fiscal years 2005 and 2004:
and 2003. See note 2 for a detailed description of each
(in 000s)
Fiscal Year 2005 Quarter Ended January 31, 2005 October 31, 2004 July 31, 2004
Impact on Revenues Pretax Income Revenues Pretax Income Revenues Pretax Income
Purchase accounting $ – $ (1,831) $ – $ (1,831) $ – $ (1,831)
Sales of previously securitized residual
interests 4,229 4,229 2,698 2,698 3,840 3,840
Lease accounting – (1,207) – (414) – (175)
Incentive compensation accrual – – – – – 12,070
Improper capitalization – 404 – 5,653 – (140)
$ 4,229 $ 1,595 $ 2,698 $ 6,106 $ 3,840 $ 13,764
Income tax (benefit) (2,478) 3,779 6,423
Net income $ 4,073 $ 2,327 $ 7,341
Fiscal Year 2004 Quarter Ended April 30, 2004 January 31, 2004
Impact on Revenues Pretax Income Revenues Pretax Income
Purchase accounting $ – $ (1,831) $ – $ (1,831)
Sales of previously securitized residual interests 3,175 3,175 11,690 11,690
Lease accounting – (608) – (510)
Incentive compensation accrual – (3,018) – (3,018)
Improper capitalization – (323) – (1,045)
$ 3,175 $ (2,605) $ 11,690 $ 5,286
Income tax (benefit) (11,202) 388
Net income $ 8,597 $ 4,898
H&R BLOCK 2005 Form 10K
77