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H&R Block, Inc. | 2014 Form 10-K 89
Year ended April 30, 2013 H&R Block, Inc.
(Guarantor) Block Financial
(Issuer) Other
Subsidiaries Eliminations Consolidated
H&R Block
Net cash provided by (used in) operating
activities: $ (22,533) $ (3,299) $ 522,940 $ — $ 497,108
Cash flows from investing:
Purchases of AFS securities — (227,177) — — (227,177)
Sales, maturities and payments received on
AFS securities — 117,346 1,065 — 118,411
Mortgage loans held for investment, net — 44,031 — — 44,031
Capital expenditures — (58) (113,181) — (113,239)
Payments for business acquisitions, net — — (20,742) — (20,742)
Proceeds from sales of businesses, net — — 3,785 — 3,785
Franchise loans funded — (70,807) — — (70,807)
Payments received on franchise loans — 83,445 — — 83,445
Surrender of company-owned life insurance
policies — — 81,125 — 81,125
Intercompany payments/investments in
subsidiaries (1) — (274,090) (963,613) 1,237,703 —
Other, net — (18,822) 9,053 — (9,769)
Net cash provided by (used in) investing
activities — (346,132) (1,002,508) 1,237,703 (110,937)
Cash flows from financing:
Repayments of short-term borrowings — (1,214,238) — — (1,214,238)
Proceeds from short-term borrowings — 1,214,238 — — 1,214,238
Repayments of long-term debt — (605,790) (30,831) — (636,621)
Proceeds from issuance of long-term debt — 497,185 — — 497,185
Customer banking deposits, net — 105,488 — (1,880) 103,608
Dividends paid (217,201) — — — (217,201)
Repurchase of common stock (340,413) — — — (340,413)
Proceeds from exercise of stock options 25,139 — — — 25,139
Intercompany borrowings/capital
contributions (1) 555,008 408,605 274,090 (1,237,703) —
Other, net — (13,094) (3,144) — (16,238)
Net cash provided by (used in) financing
activities 22,533 392,394 240,115 (1,239,583) (584,541)
Effects of exchange rate changes on cash — — 1,620 — 1,620
Net increase (decrease) in cash — 42,963 (237,833) (1,880) (196,750)
Cash - beginning of the year — 515,147 1,430,030 (843) 1,944,334
Cash - end of the year $ — $ 558,110 $ 1,192,197 $ (2,723) $ 1,747,584
(1) Amounts have been restated, including the presentation of intercompany borrowings (payments) as either investing or financing activities.