HR Block 2005 Annual Report Download - page 119

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The following is a summary of the impact of the restatement on our consolidated statements of cash flows for fiscal years ended
April 30, 2004 and 2003:
(in 000s)
Year Ended April 30, 2004 2003
As Previously As Previously
Reported(1) Adjustments Restated Reported(1) Adjustments Restated
Net income $ 697,897 $11,352 $709,249 $580,064 $(102,449) $477,615
Depreciation and amortization 172,038 7,093 179,131 161,821 7,271 169,092
Provision for deferred taxes on income 11,459 (12,445) (986) 10,574 (40,518) (29,944)
Accretion of residual interests in securitizations (168,030) (18,436) (186,466) (145,165) (1,178) (146,343)
Impairment of residual interests in securitizations 30,661 (4,598) 26,063 54,111 – 54,111
Realized gain on sale of previously securitized
residual interests (40,689) – (40,689) (130,881) 37,574 (93,307)
Impairment of goodwill – – – 35,777 86,474 122,251
Accounts payable, accrued expenses and
deposits (105,737) 1,174 (104,563) 57,658 2,796 60,454
Accrued salaries, wages and payroll taxes 58,468 12,053 70,521 (42,772) (139) (42,911)
Accrued income taxes 93,710 60 93,770 99,715 12,107 111,822
Net cash provided by operating activities 856,210 (3,747) 852,463 691,926 (2,191) 689,735
Purchases of property and equipment, net (127,573) 3,747 (123,826) (150,897) 2,191 (148,706)
Net cash provided by (used in) investing
activities (131,133) 3,747 (127,386) 125,338 2,191 127,529
(1) Amounts presented ‘‘as previously reported’’ have been reclassified to conform with current year presentation. See discussion of reclassifications in note 1.
The restatement of our consolidated statement of stockholders’ equity resulted in an increase of $5.6 million to retained earnings as
of April 30, 2002.
H&R BLOCK 2005 Form 10K
57