HR Block 2011 Annual Report Download - page 86

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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 for those years, as well as the retirement of treasury shares.
Fiscal Year Fourth Quarter Third Quarter Second Quarter First Quarter
FISCAL YEAR 2011:
Dividends paid per share $ 0.60 $ 0.15 $ 0.15 $ 0.15 $ 0.15
Stock price range:
High $ 18.99 $ 18.00 $ 13.79 $ 15.97 $ 18.99
Low 10.13 12.46 11.15 10.13 13.44
FISCAL YEAR 2010:
Dividends paid per share $ 0.60 $ 0.15 $ 0.15 $ 0.15 $ 0.15
Stock price range:
High $ 23.23 $ 21.84 $ 23.23 $ 20.00 $ 17.85
Low 13.73 15.90 18.10 16.41 13.73
NOTE 23: 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, 2011
H&R Block, Inc.
(Guarantor)
BFC
(Issuer)
Other
Subsidiaries Elims
Consolidated
H&R Block
Total revenues $ – $ 251,521 $ 3,522,775 $ – $ 3,774,296
Cost of revenues – 277,099 2,137,491 – 2,414,590
Selling, general and administrative – 31,914 662,222 – 694,136
Total expenses – 309,013 2,799,713 – 3,108,726
Operating income (loss) – (57,492) 723,062 – 665,570
Other income, net 677,025 5,503 5,952 (677,025) 11,455
Income (loss) from continuing operations before
taxes (benefit) 677,025 (51,989) 729,014 (677,025) 677,025
Income taxes (benefit) 257,620 (27,774) 285,394 (257,620) 257,620
Net income (loss) from continuing operations 419,405 (24,215) 443,620 (419,405) 419,405
Net loss from discontinued operations (13,295) (12,417) (878) 13,295 (13,295)
Net income (loss) $ 406,110 $ (36,632) $ 442,742 $ (406,110) $ 406,110
Year Ended April 30, 2010
H&R Block, Inc.
(Guarantor)
BFC
(Issuer)
Other
Subsidiaries Elims
Consolidated
H&R Block
Total revenues $ – $ 271,704 $ 3,602,721 $ (93) $ 3,874,332
Cost of revenues – 257,245 2,210,868 (117) 2,467,996
Selling, general and administrative – 36,946 594,646 (93) 631,499
Total expenses – 294,191 2,805,514 (210) 3,099,495
Operating income (loss) – (22,487) 797,207 117 774,837
Other income, net 784,135 5,644 3,771 (784,252) 9,298
Income (loss) from continuing operations before
taxes (benefit) 784,135 (16,843) 800,978 (784,135) 784,135
Income taxes (benefit) 295,189 (6,368) 301,557 (295,189) 295,189
Net income (loss) from continuing operations 488,946 (10,475) 499,421 (488,946) 488,946
Net loss from discontinued operations (9,704) (5,276) (4,428) 9,704 (9,704)
Net income (loss) $ 479,242 $ (15,751) $ 494,993 $ (479,242) $ 479,242
74 H&R BLOCK 2011 Form 10K