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36 2014 Form 10-K | H&R Block, Inc.
Year ended April 30, 2013
Revenues Expenses EBITDA Pretax
income Net income Diluted EPS
As reported - from continuing operations $ 2,905,943 $ 2,209,257 $ 874,375 $ 702,011 $ 465,158 $ 1.69
Adjustments:
Loss contingencies - litigation — (4,579) (4,579) (4,579) (2,817) (0.01)
Impairment of goodwill and intangible
assets — 3,581 3,581 3,581 2,203 0.01
Severance — 4,785 4,785 4,785 2,944 0.01
Professional fees related to HRB Bank
transaction — 1,565 1,565 1,565 963 —
Loss on extinguishment of debt — — 5,790 5,790 3,562 0.01
Gain on sales of tax offices/businesses — (1,272) (1,272) (1,272) (782) —
Discrete tax items — — — — (33,302) (0.12)
— 4,080 9,870 9,870 (27,229) (0.10)
As adjusted - from continuing operations $ 2,905,943 $ 2,205,177 $ 884,245 $ 711,881 $ 437,929 $ 1.59
Year ended April 30, 2012
Revenues Expenses EBITDA Pretax
income Net income Diluted EPS
As reported - from continuing operations $ 2,893,771 $ 2,327,479 $ 757,316 $ 576,070 $ 345,968 $ 1.16
Adjustments:
Loss contingencies - litigation — 22,961 22,961 22,961 13,935 0.04
Impairment of goodwill and intangible
assets — 11,389 11,389 11,389 6,912 0.02
Severance — 32,474 32,474 32,474 19,708 0.07
Gain on sales of tax offices/businesses — (16,601) (16,601) (16,601) (10,075) (0.03)
Discrete tax items — — — — 3,643 0.01
— 50,223 50,223 50,223 34,123 0.11
As adjusted - from continuing operations $ 2,893,771 $ 2,277,256 $ 807,539 $ 626,293 $ 380,091 $ 1.27
The following is a reconciliation of EBITDA:
(in 000s)
Year ended April 30, 2014 2013 2012
Net income - reported $ 475,157 $ 433,948 $ 265,932
Add back:
Discontinued operations 24,940 31,210 80,036
Income taxes of continuing operations 267,019 236,853 230,102
Interest expense of continuing operations 57,388 79,957 92,089
Depreciation and amortization of continuing operations 115,604 92,407 89,157
464,951 440,427 491,384
EBITDA from continuing operations $ 940,108 $ 874,375 $ 757,316