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H&R Block, Inc. | 2016 Form 10-K 69
CONDENSED CONSOLIDATING INCOME STATEMENTS (in 000s)
Year ended April 30, 2016
H&R Block, Inc.
(Guarantor)
Block Financial
(Issuer)
Other
Subsidiaries Eliminations
Consolidated
H&R Block
Total revenues $ — $ 192,698 $ 2,868,343 $ (22,888) $ 3,038,153
Cost of revenues — 102,707 1,588,450 (5,605) 1,685,552
Selling, general and administrative 2,537 30,780 703,375 (17,283) 719,409
Total operating expenses 2,537 133,487 2,291,825 (22,888) 2,404,961
Other income 381,670 25,420 11,569 (400,958) 17,701
Interest expense on external
borrowings — (68,531) (431) — (68,962)
Other expenses (6,534) (3,947) (21,534) 19,563 (12,452)
Income from continuing operations
before taxes 372,599 12,153 566,122 (381,395) 569,479
Income taxes (benefit) (1,668) 1,411 186,183 — 185,926
Net income from continuing
operations 374,267 10,742 379,939 (381,395) 383,553
Net loss from discontinued
operations — (9,286) — — (9,286)
Net income 374,267 1,456 379,939 (381,395) 374,267
Other comprehensive loss (12,973) (8,444) (12,973) 21,417 (12,973)
Comprehensive income (loss) $ 361,294 $ (6,988) $ 366,966 $ (359,978) $ 361,294
Year ended April 30, 2015
H&R Block, Inc.
(Guarantor)
Block Financial
(Issuer)
Other
Subsidiaries Eliminations
Consolidated
H&R Block
Total revenues $ — $ 226,285 $ 2,858,474 $ (6,101) $ 3,078,658
Cost of revenues — 96,493 1,540,091 (6,094) 1,630,490
Selling, general and administrative — 19,053 634,456 (7) 653,502
Total operating expenses — 115,546 2,174,547 (6,101) 2,283,992
Other income 475,336 2,726 50,434 (527,182) 1,314
Interest expense on external
borrowings — (44,884) (362) — (45,246)
Other expenses — (953) (14,976) 8,000 (7,929)
Income from continuing operations
before taxes 475,336 67,628 719,023 (519,182) 742,805
Income taxes 1,673 2,602 251,786 — 256,061
Net income from continuing
operations 473,663 65,026 467,237 (519,182) 486,744
Net income (loss) from
discontinued operations — (16,725) 3,644 — (13,081)
Net income 473,663 48,301 470,881 (519,182) 473,663
Other comprehensive income (loss) (3,437) 6,738 (3,437) (3,301) (3,437)
Comprehensive income $ 470,226 $ 55,039 $ 467,444 $ (522,483) $ 470,226