HR Block 2009 Annual Report Download - page 59

Download and view the complete annual report

Please find page 59 of the 2009 HR Block annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

The components of intangible assets are as follows:
Gross
Carrying
Amount
Accumulated
Amortization Net
Gross
Carrying
Amount
Accumulated
Amortization Net
2009 2008April 30,
(in 000s)
Tax Services:
Customer relationships $ 54,655 $ (25,267) $ 29,388 $ 46,479 $ (22,007) $ 24,472
Noncompete agreements 23,263 (20,941) 2,322 22,966 (19,981) 2,985
Reacquired franchise rights 229,438 (1,838) 227,600 –––
Franchise agreements 19,201 (533) 18,668 –––
Purchased technology 12,500 (4,240) 8,260 12,500 (2,283) 10,217
Trade name 1,025 (217) 808 1,025 (117) 908
Business Services:
Customer relationships 146,040 (111,017) 35,023 143,402 (100,346) 43,056
Noncompete agreements 33,068 (19,908) 13,160 32,303 (17,589) 14,714
Trade name – amortizing 2,600 (2,600) – 3,290 (3,043) 247
Trade name – non-amortizing 55,637 (4,868) 50,769 55,637 (4,868) 50,769
Total intangible assets $ 577,427 $ (191,429) $ 385,998 $ 317,602 $ (170,234) $ 147,368
Amortization of intangible assets of continuing operations for the years ended April 30, 2009, 2008 and 2007 was
$24.9 million, $23.7 million and $19.9 million, respectively. Estimated amortization of intangible assets for fiscal
years 2010, 2011, 2012, 2013 and 2014 is $28.7 million, $26.4 million, $23.5 million, $19.2 million and $15.8 million,
respectively.
NOTE 8: CUSTOMER BANKING DEPOSITS
The components of customer banking deposits at April 30, 2009 and 2008 are as follows:
Outstanding
Balance
Interest
Expense
Outstanding
Balance
Interest
Expense
2009 2008April 30,
(in 000s)
Money-market deposits $ 144,617 $ 6,148 $ 297,320 $ 31,242
Savings deposits 16,943 270 27,538 877
Checking deposits:
Interest-bearing 1,728 306 140,529 6,093
Non-interest-bearing 196,221 – 162,987 –
197,949 306 303,516 6,093
IRAs and other time deposits:
Due in one year 83,164 1,686
Due in two years 7,207 4,290
Due in three years 10,442 4,784
Due in four years 5,670 901
Due in five years 3,028 5,656
IRAs 385,868 139,933
495,379 7,345 157,250 4,666
$ 854,888 $ 14,069 $ 785,624 $ 42,878
H&R BLOCK 2009 Form 10K 55