HR Block 2009 Annual Report Download - page 79

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Year Ended April 30, 2008
H&R Block, Inc.
(Guarantor)
BFC
(Issuer)
Other
Subsidiaries Elims
Consolidated
H&R Block
Total revenues $ – $ 338,688 $ 3,755,118 $ (7,176) $ 4,086,630
Cost of services – 8,141 2,272,746 (409) 2,280,478
Cost of other revenues – 222,884 84,831 – 307,715
Selling, general and administrative – 148,218 639,986 694 788,898
Total expenses – 379,243 2,997,563 285 3,377,091
Operating income (loss) – (40,555) 757,555 (7,461) 709,539
Other income, net 735,071 – 25,532 (735,071) 25,532
Income (loss) from continuing operations before
taxes (benefit) 735,071 (40,555) 783,087 (742,532) 735,071
Income taxes (benefit) 289,124 (10,351) 302,873 (292,522) 289,124
Net income (loss) from continuing operations 445,947 (30,204) 480,214 (450,010) 445,947
Net loss from discontinued operations (754,594) (752,386) (6,288) 758,674 (754,594)
Net income (loss) $ (308,647) $ (782,590) $ 473,926 $ 308,664 $ (308,647)
Year Ended April 30, 2007
H&R Block, Inc.
(Guarantor)
BFC
(Issuer)
Other
Subsidiaries Elims
Consolidated
H&R Block
Total revenues $ – $ 663,752 $ 3,060,409 $ (13,799) $ 3,710,362
Cost of services – 37,966 2,121,431 (1,559) 2,157,838
Cost of other revenues – 147,411 25,245 – 172,656
Selling, general and administrative – 182,848 546,233 (541) 728,540
Total expenses – 368,225 2,692,909 (2,100) 3,059,034
Operating income – 295,527 367,500 (11,699) 651,328
Other income (expense), net 627,261 (25,157) 1,090 (627,261) (24,067)
Income from continuing operations before taxes 627,261 270,370 368,590 (638,960) 627,261
Income taxes 257,801 108,989 153,915 (262,904) 257,801
Net income from continuing operations 369,460 161,381 214,675 (376,056) 369,460
Net loss from discontinued operations (803,113) (789,657) (20,362) 810,019 (803,113)
Net income (loss) $ (433,653) $ (628,276) $ 194,313 $ 433,963 $ (433,653)
CONDENSED CONSOLIDATING BALANCE SHEETS
(in 000s)
April 30, 2009
H&R Block, Inc.
(Guarantor)
BFC
(Issuer)
Other
Subsidiaries Elims
Consolidated
H&R Block
Cash & cash equivalents $ – $ 241,350 $ 1,419,535 $ (6,222) $ 1,654,663
Cash & cash equivalents – restricted – 4,303 47,353 – 51,656
Receivables, net 38 114,442 398,334 – 512,814
Mortgage loans held for investment, net – 744,899 – – 744,899
Intangible assets and goodwill, net – – 1,236,228 – 1,236,228
Investments in subsidiaries 3,289,435 – 194 (3,289,435) 194
Other assets – 308,481 850,787 – 1,159,268
Total assets $ 3,289,473 $ 1,413,475 $ 3,952,431 $ (3,295,657) $ 5,359,722
Customer deposits $ – $ 861,110 $ – $ (6,222) $ 854,888
Long-term debt – 998,245 33,877 – 1,032,122
FHLB borrowings – 100,000 – – 100,000
Other liabilities 2 130,362 1,836,477 12 1,966,853
Net intercompany advances 1,883,612 (827,453) (1,056,147) (12) –
Stockholders’ equity 1,405,859 151,211 3,138,224 (3,289,435) 1,405,859
Total liabilities and stockholders’ equity $ 3,289,473 $ 1,413,475 $ 3,952,431 $ (3,295,657) $ 5,359,722
H&R BLOCK 2009 Form 10K 75