HR Block 2005 Annual Report Download - page 80

A summary of our purchases of H&R Block common stock during the fourth quarter of fiscal year 2005, excluding the impact of the
stock split, is as follows:
(shares in 000s)
Total Number of Maximum Number
Total Average Shares Purchased as of Shares that May Be
Number of Shares Price Paid Part of Publicly Announced Purchased Under the
Purchased(2) per Share Plans or Programs(1) Plans or Programs(1)
February 1 – February 28 1 $ 50.82 – 15,104
March 1 – March 31 2 $ 51.87 – 15,104
April 1 – April 30 1 $ 50.70 – 15,104
(1) On June 11, 2003, our Board of Directors approved the repurchase of 20 million shares of H&R Block common stock. This authorization has no expiration date. On June 9,
2004, our Board of Directors approved the additional repurchase of 15 million shares of H&R Block common stock. This authorization has no expiration date.
(2) The total number of shares purchased were purchased in connection with funding employee income tax withholding obligations arising upon the exercise of stock options or
the lapse of restrictions on restricted shares.
ITEM 6. SELECTED FINANCIAL DATA
We derived the selected historical consolidated financial data presented below as of and for each of the five years in the period ended
April 30, 2005 from our consolidated financial statements. The data for the periods prior to fiscal year 2005 has been restated to reflect
corrections to gain on sale accounting, incentive compensation accruals, lease accounting, capitalization of certain branch office costs,
acquisition accounting and income taxes as more fully described in Item 8, note 2 to our consolidated financial statements. The data set
forth below should be read in conjunction with Item 7 and our consolidated financial statements.
The impact of the restatement on fiscal year 2002 resulted in an increase in net income of $6.9 million, or $.02 per basic and diluted
share, and a decrease of $9.5 million in total assets. The impact on fiscal year 2001 resulted in an increase in net income of $1.5 million,
or $.00 per basic and diluted share, and an increase of $4.9 million in total assets.
(in 000s, except per share amounts)
Restated Restated Restated Restated
April 30, 2005 2004 2003 2002 2001
Revenues $ 4,420,019 $ 4,247,880 $ 3,731,126 $ 3,311,943 $ 2,982,157
Net income before change in accounting principle 635,857 715,608 477,615 441,287 278,211
Net income 635,857 709,249 477,615 441,287 282,625
Basic earnings per share:
Net income before change in accounting principle $ 1.92 $ 2.02 $ 1.33 $ 1.21 $ .76
Net income 1.92 2.00 1.33 1.21 .77
Diluted earnings per share:
Net income before change in accounting principle $ 1.88 $ 1.98 $ 1.30 $ 1.17 $ .75
Net income 1.88 1.96 1.30 1.17 .76
Total assets $ 5,539,283 $ 5,232,732 $ 4,666,502 $ 4,396,731 $ 4,170,980
Long-term debt 923,073 545,811 822,302 868,387 870,974
Dividends per share $ .43 $ .39 $ .35 $ .32 $ .29
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The accompanying Management’s Discussion and Analysis of We are a diversified company with subsidiaries delivering tax,
Financial Condition and Results of Operations reflects the investment, mortgage and business services and products. We are
restatement of previously issued financial statements, as the only major company offering a full range of software, online
discussed in Item 8, note 2 to our consolidated financial and in-office tax preparation solutions, combined with
statements. All share and per share amounts in this document personalized financial advice concerning retirement savings,
have been adjusted to reflect the retroactive effect of the stock home ownership and other opportunities to help clients build a
split. better financial future.
H&R BLOCK 2005 Form 10K
18