HR Block 2014 Annual Report Download - page 32

Download and view the complete annual report

Please find page 32 of the 2014 HR Block annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

24 2014 Form 10-K | H&R Block, Inc.
OVERVIEW
A summary of our fiscal year 2014 results is as follows:
Revenues for the fiscal year were just over $3.0 billion, up 4.1% from the prior year, driven by improved return
mix and other pricing changes in retail locations, digital tax software product enhancements and increases in
paid federal returns, and increased financial product revenues.
Pretax earnings grew $65.1 million, or 9.3%.
Diluted earnings per share from continuing operations increased 7.1% from the prior year to $1.81.
Adjusted earnings from continuing operations before interest, taxes, depreciation and amortization (EBITDA)
increased $48.4 million, or 5.5%, to $932.6 million. See "Non-GAAP Financial Information" at the end of this
item for a reconciliation of non-GAAP measures.
Consolidated Results of Operations Data (in 000s, except per share amounts)
Year ended April 30, 2014 2013 2012
REVENUES:
Tax Services $ 2,999,460 $ 2,877,967 $ 2,862,378
Corporate and eliminations 24,835 27,976 31,393
$ 3,024,295 $ 2,905,943 $ 2,893,771
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES:
Tax Services $ 866,367 $ 821,143 $ 704,002
Corporate and eliminations (99,251) (119,132) (127,932)
767,116 702,011 576,070
Income taxes 267,019 236,853 230,102
Net income from continuing operations 500,097 465,158 345,968
Net loss from discontinued operations (24,940) (31,210) (80,036)
Net income $ 475,157 $ 433,948 $ 265,932
BASIC EARNINGS (LOSS) PER SHARE:
Continuing operations $ 1.82 $ 1.70 $ 1.16
Discontinued operations (0.09) (0.11) (0.27)
Consolidated $ 1.73 $ 1.59 $ 0.89
DILUTED EARNINGS (LOSS) PER SHARE:
Continuing operations $ 1.81 $ 1.69 $ 1.16
Discontinued operations (0.09) (0.11) (0.27)
Consolidated $ 1.72 $ 1.58 $ 0.89
EBITDA FROM CONTINUING OPERATIONS (1) $ 940,108 $ 874,375 $ 757,316
EBITDA FROM CONTINUING OPERATIONS - ADJUSTED (1) 932,606 884,245 807,539
(1) See "Non-GAAP Financial Information" at the end of this item for a reconciliation of non-GAAP measures.