HR Block 2015 Annual Report Download - page 95

Download and view the complete annual report

Please find page 95 of the 2015 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 104

  • 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
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

88 2015 Form 10-K | H&R Block, Inc.
Year ended April 30, 2013
H&R Block, Inc.
(Guarantor)
Block Financial
(Issuer)
Other
Subsidiaries Eliminations
Consolidated
H&R Block
Net cash provided by (used in) operating
activities: $ (22,533) $ (3,299) $ 522,940 $ — $ 497,108
Cash flows from investing:
Purchases of AFS securities — (227,177) — — (227,177)
Sales, maturities and payments received on
AFS securities — 117,346 1,065 — 118,411
Mortgage loans held for investment, net — 44,031 — — 44,031
Capital expenditures — (58) (113,181) — (113,239)
Payments for business acquisitions, net — — (20,742) — (20,742)
Franchise loans funded — (70,807) — — (70,807)
Payments received on franchise loans — 83,445 — — 83,445
Surrender of company-owned life insurance
policies — — 81,125 — 81,125
Intercompany payments/investments in
subsidiaries — (274,090) (963,613) 1,237,703 —
Other, net — (18,822) 12,838 — (5,984)
Net cash used in investing activities — (346,132) (1,002,508) 1,237,703 (110,937)
Cash flows from financing:
Repayments of short-term borrowings — (1,214,238) — — (1,214,238)
Proceeds from short-term borrowings — 1,214,238 — — 1,214,238
Repayments of long-term debt — (605,790) (30,831) — (636,621)
Proceeds from issuance of long-term debt — 497,185 — — 497,185
Customer banking deposits, net — 105,488 — (1,880) 103,608
Dividends paid (217,201) — — — (217,201)
Repurchase of common stock (340,413) — — — (340,413)
Proceeds from exercise of stock options 25,139 — — — 25,139
Intercompany borrowings/capital
contributions 555,008 408,605 274,090 (1,237,703) —
Other, net — (13,094) (3,144) — (16,238)
Net cash provided by (used in) financing
activities 22,533 392,394 240,115 (1,239,583) (584,541)
Effects of exchange rate changes on cash — — 1,620 — 1,620
Net increase (decrease) in cash — 42,963 (237,833) (1,880) (196,750)
Cash - beginning of the year — 515,147 1,430,030 (843) 1,944,334
Cash - end of the year $ — $ 558,110 $ 1,192,197 $ (2,723) $ 1,747,584
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
There were no disagreements or reportable events requiring disclosure pursuant to Item 304(b) of Regulation S-K.
ITEM 9A. CONTROLS AND PROCEDURES
(a) EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES – We have established disclosure controls and
procedures (Disclosure Controls) to ensure that information required to be disclosed in the Company's reports filed
under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the
time periods specified in the U.S. Securities and Exchange Commission's rules and forms. Disclosure Controls are also
designed to ensure that such information is accumulated and communicated to management, including the Chief
Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.
Our Disclosure Controls were designed to provide reasonable assurance that the controls and procedures would meet
their objectives. Our management, including the Chief Executive Officer and Chief Financial Officer, does not expect
that our Disclosure Controls will prevent all error and all fraud. A control system, no matter how well designed and
operated, can provide only reasonable assurance of achieving the designed control objectives and management is
required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Because