HR Block 2013 Annual Report Download - page 8

H&R Block 2013 Form 10-K 1
INTRODUCTION AND FORWARD-LOOKING STATEMENTS
Specified portions of our proxy statement are “incorporated by reference” in response to certain items. Our proxy
statement will be made available to shareholders in July 2013, and will also be available on our website at
www.hrblock.com.
This report and other documents filed with the Securities and Exchange Commission (SEC) may contain forward-
looking statements. In addition, our senior management may make forward-looking statements orally to analysts,
investors, the media and others. Forward-looking statements can be identified by the fact that they do not relate strictly
to historical or current facts. They often include words or variation of words such as “expects,” “anticipates,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” “projects,” “forecasts,” “targets,” “would,” “will,” “should,” “could,” “may”
or other similar expressions. Forward-looking statements provide management's current expectations or predictions of
future conditions, events or results. All statements that address operating performance, events or developments that we
expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues,
income, earnings per share, capital expenditures, dividends, stock repurchase, liquidity, capital structure or other
financial items, descriptions of management's plans or objectives for future operations, services or products, or
descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they
are made and reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of
future performance or events. Furthermore, the Company disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information,
data or methods, future events or other changes, except as required by law. By their nature, forward-looking statements
are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the
forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of
economic, competitive and regulatory factors, many of which are beyond the Company's control. Investors should
understand that it is not possible to predict or identify all such factors and, consequently, should not consider any such
list to be a complete set of all potential risks or uncertainties. Details about risks affecting various aspects of our business
are included throughout this Form 10-K. Investors should carefully consider all of these risks, and should pay particular
attention to Item 1A, “Risk Factors,” of this Form 10-K.
PART I
ITEM 1. BUSINESS
GENERAL DEVELOPMENT OF BUSINESS
H&R Block, Inc. was organized as a corporation in 1955 under the laws of the State of Missouri and has subsidiaries
that provide tax preparation and banking services. “H&R Block,” “the Company,” “we,” “our” and “us” are used
interchangeably to refer to H&R Block, Inc. or to H&R Block, Inc. and its subsidiaries, as appropriate to the context.
A complete list of our subsidiaries can be found in Exhibit 21.
Our Tax Services segment provides assisted income tax return preparation, digital tax solutions and other services
and products related to income tax return preparation to the general public primarily in the United States (U.S.) and its
territories, Canada and Australia. This segment also offers financial services through H&R Block Bank (HRB Bank).
In addition to our Tax Services segment, we separately report the results of corporate operations which include net
interest margin and gains or losses relating to mortgage loans held for investment, real estate owned and residual
interests in securitizations, along with interest expense on borrowings, other corporate expenses and eliminations of
intercompany activities.
Through ownership of HRB Bank, we are a savings and loan holding company (SLHC) regulated by the Board of
Governors of the Federal Reserve System (Federal Reserve). As previously announced, we are in the process of
evaluating alternative means of ceasing to be an SLHC, in which case we would no longer be subject to regulation by
the Federal Reserve as an SLHC. In connection with that evaluation, we are exploring alternatives to continue delivering
financial services to our customers. Our evaluation of alternatives is ongoing and we cannot predict the timing, the
circumstances, or the likelihood that we will cease to be regulated as an SLHC.