HR Block 2007 Annual Report Download - page 96

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NOTE 9: CUSTOMER BANKING DEPOSITS
The components of customer banking deposits at April 30, 2007 are as Accrued but unpaid interest on deposits totaled $1.8 million at
follows: April30, 2007.
(in 000s)
Time deposit accounts in amounts of $100,000 or more with a
remaining maturity of more than one year, totaled $0.1 million at
OutstandingInterest
Balance Expense
April 30, 2007.
The fair value of IRAs and other time deposits was $75.0 million at
Demand deposits:
Money-market deposits $793,383 $27,724
April 30, 2007. The fair value of other time deposits is calculated based
Savings deposits 15,428 121
on the discounted value of contractual cash flows.
Checking deposits:
Interest-bearing149,419 3,722
Noninterest-bearing93,560 –
242,979 3,722
IRAs and other time deposits:
Due in 2008 619
Due in 2009 511
Due in 2010 102
Due in 2011 50
Due in 2012 229
Thereafter 75,962
77,473 561
$1,129,263 $32,128
m68
NOTE 10: LONG-TERM DEBT
The components of long-term debt and capital lease obligations of our On April 13, 2000, we issued $500.0 million of 81/2% Senior Notes
continuing operations are as follows: under a shelf registration statement. In fiscal year 2007 these notes
(in 000s)
became due and were replaced with a $500.0 million credit facility. See
April 30, 2007 2006
discussion of short-term borrowings in note 8.
As of April 30, 2007, we had $850.0 million remaining under our shelf
Senior Notes, 5.125%, due October 2014 $398,236 $398,001
FHLB borrowings, 4.99%, due April 2009 104,000 –
registration for additional debt issuances.
Business Services acquisition obligations, due from
HRB Bank is a member of the FHLB of Des Moines, which extends
May 2007 to October 2010 13,645 13,162
credit to member banks based on eligible collateral, which consists
Capital lease obligations 12,911 13,209
primarily of mortgage loans held for investment and certain AFS
Senior Notes, 81/2%, due April 2007 –499,425
securities. On April 13, 2007, we borrowed $104.0 million from the FHLB
Other obligations319 457
for liquidity purposes. This borrowing requires monthly interest
529,111 924,254
payments at a rate of 4.99% and matures April 13, 2009. At April 30, 2007,
Less: Current portion 9,304 506,992
HRB Bank had FHLB advance capacity of $525.5 million based on
$519,807 $417,262
eligible pledged collateral of $1.5 billion, and there was a balance of
On October 26, 2004, we issued $400.0 million of 5.125% Senior Notes $179.0 million outstanding on this facility. Of the outstanding
under a shelf registration statement. The Senior Notes are due borrowings, $75.0 million was considered short-term. See discussion of
October 30, 2014, and are not redeemable by the bondholders prior to short-term borrowings in note 8.
maturity. The net proceeds of this transaction were used to repay We have obligations related to various Business Services acquisitions
$250.0 million in 63/4% Senior Notes that were due in November 2004. of $13.6 million and $13.2 million at April 30, 2007 and 2006,
The remaining proceeds were used for working capital, capital respectively, which are due from May 2007 to October 2010.
expenditures, repayment of other debt and other general corporate We have a capitalized lease obligation of $12.9 million at April 30,
purposes. 2007 that is collateralized by land and buildings. The obligation is due in
14 years.
H&R BLOCK 2007 Form 10K