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H&R Block, Inc. | 2015 Form 10-K 47
CONSOLIDATED STATEMENTS OF INCOME
AND COMPREHENSIVE INCOME (in 000s, except per share amounts)
Year ended April 30, 2015 2014 2013
REVENUES:
Service revenues $ 2,651,057 $ 2,570,273 $ 2,443,000
Royalty, product and other revenues 334,737 355,928 364,114
Interest income 92,864 98,094 98,829
3,078,658 3,024,295 2,905,943
OPERATING EXPENSES:
Cost of revenues:
Compensation and benefits 852,480 816,623 769,161
Occupancy and equipment 378,624 362,782 354,612
Provision for bad debt and loan losses 74,993 80,007 90,685
Depreciation and amortization 111,861 93,259 75,229
Other 212,532 219,706 240,804
1,630,490 1,572,377 1,530,491
Selling, general and administrative:
Marketing and advertising 273,682 238,763 270,783
Compensation and benefits 238,527 249,779 213,987
Depreciation and amortization 47,943 22,345 17,178
Other selling, general and administrative 93,350 122,541 102,521
653,502 633,428 604,469
Total operating expenses 2,283,992 2,205,805 2,134,960
Other income 1,314 36,315 12,575
Interest expense on borrowings (45,246) (55,279) (74,297)
Other expenses (7,929) (32,410) (7,250)
Income from continuing operations before income taxes 742,805 767,116 702,011
Income taxes 256,061 267,019 236,853
Net income from continuing operations 486,744 500,097 465,158
Net loss from discontinued operations, net of tax benefits
of $8,125, $15,422 and $19,662 (13,081) (24,940) (31,210)
NET INCOME $ 473,663 $ 475,157 $ 433,948
BASIC EARNINGS (LOSS) PER SHARE:
Continuing operations $ 1.77 $ 1.82 $ 1.70
Discontinued operations (0.05) (0.09) (0.11)
Consolidated $ 1.72 $ 1.73 $ 1.59
DILUTED EARNINGS (LOSS) PER SHARE:
Continuing operations $ 1.75 $ 1.81 $ 1.69
Discontinued operations (0.04) (0.09) (0.11)
Consolidated $ 1.71 $ 1.72 $ 1.58
COMPREHENSIVE INCOME:
Net income $ 473,663 $ 475,157 $ 433,948
Unrealized gains on securities, net of taxes:
Unrealized holding gains arising during the year 6,645 1,807 269
Reclassification adjustment for losses (gains) included in income 41 (3,705) (104)
Change in foreign currency translation adjustments (10,123) (3,475) (1,760)
Other comprehensive loss (3,437) (5,373) (1,595)
Comprehensive income $ 470,226 $ 469,784 $ 432,353
See accompanying notes to consolidated financial statements.