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H&R Block 2013 Form 10-K 93
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, 2013
H&R Block, Inc.
(Guarantor)
Block Financial
(Issuer)
Other
Subsidiaries Eliminations
Consolidated
H&R Block
Total revenues $ — $ 230,982 $2,681,987 $ (7,026) $ 2,905,943
Cost of revenues —193,400 1,417,824 (6,436) 1,604,788
Selling, general and
administrative —42,530 562,529 (590)604,469
Total expenses —235,930 1,980,353 (7,026) 2,209,257
Operating income (loss) —(4,948) 701,634 — 696,686
Other income (expense), net 702,011 (1,164)6,489 (702,011)5,325
Income (loss) from continuing
operations before taxes (benefit) 702,011 (6,112) 708,123 (702,011)702,011
Income taxes (benefit) 236,853 (29,221) 266,074 (236,853)236,853
Net income from continuing
operations 465,158 23,109 442,049 (465,158)465,158
Net income (loss) from
discontinued operations (31,210) (31,954)744 31,210 (31,210)
Net income (loss) 433,948 (8,845) 442,793 (433,948)433,948
Other comprehensive income
(loss) (1,595) 189 (1,784) 1,595 (1,595)
Comprehensive income (loss) $ 432,353 $ (8,656) $ 441,009 $ (432,353) $ 432,353
Year ended April 30, 2012
H&R Block, Inc.
(Guarantor)
Block Financial
(Issuer)
Other
Subsidiaries Eliminations
Consolidated
H&R Block
Total revenues $ — $ 234,925 $2,666,267 $ (7,421) $ 2,893,771
Cost of revenues — 221,988 1,487,128 (7,421) 1,701,695
Selling, general and
administrative — 24,730 601,054 — 625,784
Total expenses — 246,718 2,088,182 (7,421) 2,327,479
Operating income (loss) — (11,793) 578,085 — 566,292
Other income, net 576,070 8,686 1,092 (576,070)9,778
Income (loss) from continuing
operations before taxes (benefit) 576,070 (3,107) 579,177 (576,070)576,070
Income taxes (benefit) 230,102 (1,191) 231,293 (230,102)230,102
Net income (loss) from
continuing operations 345,968 (1,916) 347,884 (345,968)345,968
Net loss from discontinued
operations (80,036) (40,172) (39,864) 80,036 (80,036)
Net income (loss) 265,932 (42,088) 308,020 (265,932)265,932
Other comprehensive income
(loss) 912 3,085 (2,173) (912)912
Comprehensive income (loss) $ 266,844 $ (39,003) $ 305,847 $ (266,844) $ 266,844