HR Block 2009 Annual Report Download - page 78

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lapse of certain restrictions on nonvested shares and the antidilutive effect of stock options and nonvested shares
in the first two quarters.
Fiscal Year Fourth Quarter Third Quarter Second Quarter First Quarter
Fiscal year 2009:
Dividends per share $ 0.59 $ 0.15 $ 0.15 $ 0.15 $ 0.14
Stock price range:
High $ 27.97 $ 22.98 $ 23.27 $ 27.97 $ 24.65
Low 14.69 14.69 15.37 15.00 20.40
Fiscal year 2008:
Dividends per share $ 0.56 $ 0.14 $ 0.14 $ 0.14 $ 0.14
Stock price range:
High $ 24.02 $ 22.27 $ 21.84 $ 23.00 $ 24.02
Low 16.89 17.13 16.89 17.96 19.90
NOTE 22: CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
BFC is an indirect, wholly-owned consolidated subsidiary of the Company. BFC is the Issuer and the Company is
the Guarantor of the Senior Notes issued on January 11, 2008 and October 26, 2004, the CLOCs and other
indebtedness issued from time to time. These condensed consolidating financial statements have been prepared
using the equity method of accounting. Earnings of subsidiaries are, therefore, reflected in the Company’s
investment in subsidiaries account. The elimination entries eliminate investments in subsidiaries, related
stockholders’ equity and other intercompany balances and transactions.
CONDENSED CONSOLIDATING INCOME STATEMENTS
(in 000s)
Year Ended April 30, 2009
H&R Block, Inc.
(Guarantor)
BFC
(Issuer)
Other
Subsidiaries Elims
Consolidated
H&R Block
Total revenues $ – $ 251,758 $ 3,834,880 $ (3,061) $ 4,083,577
Cost of services – 46,282 2,250,145 22 2,296,449
Cost of other revenues – 232,507 67,294 (32) 299,769
Selling, general and administrative – 66,230 582,812 (552) 648,490
Total expenses – 345,019 2,900,251 (562) 3,244,708
Operating income (loss) – (93,261) 934,629 (2,499) 838,869
Other income (expense), net 839,370 (5,992) 6,461 (839,338) 501
Income (loss) from continuing operations before
taxes (benefit) 839,370 (99,253) 941,090 (841,837) 839,370
Income taxes (benefit) 326,315 (40,386) 367,660 (327,274) 326,315
Net income (loss) from continuing operations 513,055 (58,867) 573,430 (514,563) 513,055
Net loss from discontinued operations (27,382) (29,176) –29,176 (27,382)
Net income (loss) $ 485,673 $ (88,043) $ 573,430 $ (485,387) $ 485,673
74 H&R BLOCK 2009 Form 10K