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H&R Block, Inc. | 2016 Form 10-K 39
CONSOLIDATED STATEMENTS OF INCOME
AND COMPREHENSIVE INCOME (in 000s, except per share amounts)
Year ended April 30, 2016 2015 2014
REVENUES:
Service revenues $ 2,653,936 $ 2,651,057 $ 2,570,273
Royalty, product and other revenues 384,217 427,601 454,022
3,038,153 3,078,658 3,024,295
OPERATING EXPENSES:
Cost of revenues:
Compensation and benefits 845,197 852,480 816,623
Occupancy and equipment 405,123 378,624 362,782
Provision for bad debt and loan losses 75,395 74,993 80,007
Depreciation and amortization 115,907 111,861 93,259
Other 243,930 212,532 219,706
1,685,552 1,630,490 1,572,377
Selling, general and administrative:
Marketing and advertising 297,762 273,682 238,763
Compensation and benefits 228,778 238,527 249,779
Depreciation and amortization 57,691 47,943 22,345
Other selling, general and administrative 135,178 93,350 122,541
719,409 653,502 633,428
Total operating expenses 2,404,961 2,283,992 2,205,805
Other income 17,701 1,314 36,315
Interest expense on borrowings (68,962) (45,246) (55,279)
Other expenses (12,452) (7,929) (32,410)
Income from continuing operations before income taxes 569,479 742,805 767,116
Income taxes 185,926 256,061 267,019
Net income from continuing operations 383,553 486,744 500,097
Net loss from discontinued operations, net of tax benefits of
$5,414, $8,125 and $15,422 (9,286) (13,081) (24,940)
NET INCOME $ 374,267 $ 473,663 $ 475,157
BASIC EARNINGS (LOSS) PER SHARE:
Continuing operations $1.54$ 1.77 $ 1.82
Discontinued operations (0.04) (0.05) (0.09)
Consolidated $1.50$ 1.72 $ 1.73
DILUTED EARNINGS (LOSS) PER SHARE:
Continuing operations $1.53$ 1.75 $ 1.81
Discontinued operations (0.04) (0.04) (0.09)
Consolidated $1.49$ 1.71 $ 1.72
COMPREHENSIVE INCOME:
Net income $ 374,267 $ 473,663 $ 475,157
Unrealized gains on securities, net of taxes:
Unrealized holding gains (losses) arising during the year, net (3,530) 6,645 1,807
Reclassification adjustment for losses (gains) included in
income (4,982) 41 (3,705)
Change in foreign currency translation adjustments (4,461) (10,123) (3,475)
Other comprehensive loss (12,973) (3,437) (5,373)
Comprehensive income $ 361,294 $ 470,226 $ 469,784
See accompanying notes to consolidated financial statements.