HR Block 2016 Annual Report Download - page 76

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68 2016 Form 10-K | H&R Block, Inc.
(in 000s, except per share amounts)
Fiscal Year 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014
Revenues $ 3,078,658 $ 2,301,370 $ 509,074 $ 134,628 $ 133,586
Income (loss) from continuing
operations before taxes
(benefit) $ 742,805 $ 1,210,059 $ (90,865) $ (200,573) $ (175,816)
Income taxes (benefit) 256,061 465,926 (55,554) (87,346) (66,965)
Net income (loss) from continuing
operations 486,744 744,133 (35,311) (113,227) (108,851)
Net income (loss) from
discontinued operations (13,081) (5,292) (1,637) 1,229 (7,381)
Net income (loss) $ 473,663 $ 738,841 $ (36,948) $ (111,998) $ (116,232)
Basic earnings (loss) per share:
Continuing operations $ 1.77 $ 2.70 $ (0.13) $ (0.41) $ (0.40)
Discontinued operations (0.05) (0.02) — — (0.02)
Consolidated $ 1.72 $ 2.68 $ (0.13) $ (0.41) $ (0.42)
Diluted earnings (loss) per share:
Continuing operations $ 1.75 $ 2.68 $ (0.13) $ (0.41) $ (0.40)
Discontinued operations (0.04) (0.02) — — (0.02)
Consolidated $ 1.71 $ 2.66 $ (0.13) $ (0.41) $ (0.42)
Because most of our clients file their tax returns during the period from January through April of each year,
substantially all of our revenues from income tax return preparation and related services and products are earned
during this period. As a result, we generally operate at a loss through a majority of the fiscal year.
The accumulation of four quarters in fiscal years 2016 and 2015 for earnings per share may not equal the related
per share amounts for the years ended April 30, 2016 and 2015 due to the timing of the exercise of stock options and
lapse of certain restrictions on nonvested shares and share units and deferred stock units and the antidilutive effect
of stock options and nonvested shares and share units in the first three quarters for those years.
Information regarding H&R Block's common stock prices and dividends for fiscal years 2016 and 2015 is as follows:
Fiscal Year Fourth Quarter Third Quarter Second Quarter First Quarter
Fiscal Year 2016:
Dividends paid per share $ 0.80 $ 0.20 $ 0.20 $ 0.20 $ 0.20
Stock price range:
High $ 37.53 $ 35.14 $ 37.53 $ 37.50 $ 34.62
Low 19.75 19.75 31.00 31.03 29.15
Fiscal Year 2015:
Dividends paid per share $ 0.80 $ 0.20 $ 0.20 $ 0.20 $ 0.20
Stock price range:
High $ 35.80 $ 35.80 $ 35.09 $ 33.92 $ 33.65
Low 27.23 30.10 31.41 27.42 27.23
NOTE 19: CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
Block Financial is a 100% owned subsidiary of the Company. Block Financial is the Issuer and the Company is the full
and unconditional Guarantor of the Senior Notes, our 2015 CLOC and other indebtedness issued from time to time.
These condensed consolidating financial statements have been prepared using the equity method of accounting.
Earnings of subsidiaries are, therefore, reflected in the Company's investment in subsidiaries account. The elimination
entries eliminate investments in subsidiaries, related stockholders' equity and other intercompany balances and
transactions.