Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Apr. 30, 2014 | 31-May-14 | Oct. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Apr-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'H&R BLOCK INC | ' | ' |
Entity Central Index Key | '0000012659 | ' | ' |
Current Fiscal Year End Date | '--04-30 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 274,247,344 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $7,782,457,999 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income And Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Document Fiscal Year Focus | '2014 | ' | ' |
REVENUES: | ' | ' | ' |
Service revenues | $2,570,273 | $2,443,000 | $2,434,307 |
Royalty, product and other revenues | 355,928 | 364,114 | 359,664 |
Interest income | 98,094 | 98,829 | 99,800 |
Total revenues | 3,024,295 | 2,905,943 | 2,893,771 |
Salaries, Wages and Officers' Compensation | 249,779 | 213,987 | 220,340 |
Amortization of Intangible Assets | 22,345 | 17,178 | 19,847 |
OPERATING EXPENSES: | ' | ' | ' |
Compensation and benefits | 816,623 | 769,161 | 828,773 |
Occupancy and equipment | 362,782 | 354,612 | 381,200 |
General and Administrative Expense | 122,541 | 102,521 | 99,391 |
Provision for bad debt and loan losses | 80,007 | 90,685 | 92,157 |
Interest | 57,388 | 79,957 | 92,089 |
Depreciation | 93,259 | 75,229 | 69,310 |
Other | 217,597 | 235,144 | 238,166 |
Cost of revenues | 1,627,656 | 1,604,788 | 1,701,695 |
Impairment of goodwill | 0 | 0 | 7,409 |
Marketing and Advertising Expense | 238,763 | 270,783 | 278,797 |
Selling, general and administrative | 633,428 | 604,469 | 618,375 |
Total expenses | 2,261,084 | 2,209,257 | 2,327,479 |
Operating income | 763,211 | 696,686 | 566,292 |
Other income, net | 3,905 | 5,325 | 9,778 |
Income from continuing operations before income taxes | 767,116 | 702,011 | 576,070 |
Income taxes | 267,019 | 236,853 | 230,102 |
Net income (loss) from continuing operations | 500,097 | 465,158 | 345,968 |
Net loss from discontinued operations, net of tax benefits of $15,422, $19,662 and $74,944 | -24,940 | -31,210 | -80,036 |
NET INCOME | 475,157 | 433,948 | 265,932 |
NET INCOME | -475,157 | -433,948 | -265,932 |
BASIC EARNINGS (LOSS) PER SHARE: | ' | ' | ' |
Continuing operations (in usd per share) | $1.82 | $1.70 | $1.16 |
Discontinued operations (in usd per share) | ($0.09) | ($0.11) | ($0.27) |
Consolidated (in usd per share) | $1.73 | $1.59 | $0.89 |
DILUTED EARNINGS (LOSS) PER SHARE: | ' | ' | ' |
Continuing operations (in usd per share) | $1.81 | $1.69 | $1.16 |
Discontinued operations (in usd per share) | ($0.09) | ($0.11) | ($0.27) |
Consolidated (in usd per share) | $1.72 | $1.58 | $0.89 |
COMPREHENSIVE INCOME: | ' | ' | ' |
NET INCOME | 475,157 | 433,948 | 265,932 |
Unrealized gains on securities, net of taxes: | ' | ' | ' |
Unrealized holding gains arising during the year | 1,807 | 269 | 3,192 |
Reclassification adjustment for gains included in income | -3,705 | -104 | -94 |
Unrealized translation gain | -3,475 | -1,760 | -2,186 |
Other comprehensive income (loss) | -5,373 | -1,595 | 912 |
Other comprehensive income (loss) | $469,784 | $432,353 | $266,844 |
Consolidated_Statements_Of_Inc1
Consolidated Statements Of Income And Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' |
Discontinued Operation, Tax Effect of Operations of Discontinued Operation | ($15,422) | ($19,662) | ($74,944) |
Tax effect of reclassification adjustment for gains included in income | $2,130 | $71 | $58 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $2,185,307 | $1,747,584 |
Cash and cash equivalents - restricted | 115,319 | 117,837 |
Receivables, less allowance for doubtful accounts of $52,578 and $50,399 | 191,618 | 206,835 |
Prepaid expenses and other current assets | 198,267 | 390,087 |
Available-for-sale Securities, Current | 423,495 | ' |
Total current assets | 3,114,006 | 2,462,343 |
Mortgage loans held for investment, less allowance for loan losses of $11,272 and $14,314 | 268,428 | 338,789 |
Investments in available-for-sale securities | 4,329 | 486,876 |
Property and equipment, at cost less accumulated depreciation and amortization of $446,049 and $420,318 | 304,911 | 267,880 |
Intangible assets, net | 355,622 | 284,439 |
Goodwill | 436,117 | 434,782 |
Other assets | 210,116 | 262,670 |
Total assets | 4,693,529 | 4,537,779 |
LIABILITIES: | ' | ' |
Customer banking deposits | 769,785 | 936,464 |
Accounts payable, accrued expenses and other current liabilities | 569,007 | 523,921 |
Accrued salaries, wages and payroll taxes | 167,032 | 134,970 |
Accrued income taxes | 406,655 | 416,128 |
Current portion of long-term debt | 400,637 | 722 |
Total current liabilities | 2,313,116 | 2,012,205 |
Long-term debt | 505,837 | 905,958 |
Other noncurrent liabilities | 318,027 | 356,069 |
Total liabilities | 3,136,980 | 3,274,232 |
COMMITMENTS AND CONTINGENCIES | ' | ' |
STOCKHOLDERS' EQUITY: | ' | ' |
Common stock, no par, stated value $.01 per share, 800,000,000 shares authorized, shares issued of 316,628,110 | 3,166 | 3,166 |
Convertible preferred stock, no par, stated value $0.01 per share, 500,000 shares authorized | ' | ' |
Additional paid-in capital | 766,654 | 752,483 |
Accumulated other comprehensive income | 5,177 | 10,550 |
Retained earnings | 1,589,297 | 1,333,445 |
Less treasury shares, at cost | -807,745 | -836,097 |
Total stockholders' equity | 1,556,549 | 1,263,547 |
Total liabilities and stockholders' equity | $4,693,529 | $4,537,779 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Allowance for doubtful accounts | $52,578 | $50,399 |
Allowance for loan losses | 11,272 | 14,314 |
Accumulated depreciation and amortization | $446,049 | $420,318 |
Common stock, no par value | $0 | $0 |
Common stock, stated value per share | $0.01 | $0.01 |
Common stock, shares authorized | 800,000,000 | 800,000,000 |
Common stock, shares issued | 316,628,110 | 316,628,110 |
Convertible preferred stock, stated value per share | $0.01 | $0.01 |
Convertible preferred stock, shares authorized | 500,000 | 500,000 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | $475,157 | $433,948 | $265,932 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 115,604 | 92,407 | 103,576 |
Provision for bad debt and loan losses | 80,007 | 90,685 | 97,365 |
Provision (benefit) for deferred taxes | 20,958 | -21,846 | 13,227 |
Stock-based compensation | 20,058 | 15,293 | 14,968 |
Impairment of goodwill and intangible assets | 277 | 3,581 | 113,951 |
Changes in assets and liabilities, net of acquisitions: | ' | ' | ' |
Cash and cash equivalents b restricted | 2,522 | -69,737 | -2,917 |
Receivables | -30,376 | -72,662 | 49,755 |
Prepaid expenses and other current assets | 2,355 | -3,465 | 538 |
Other noncurrent assets | -40,922 | 78,778 | 25,552 |
Accounts payable, accrued expenses and other current liabilities | 34,510 | -37,017 | -45,114 |
Accrued salaries, wages and payroll taxes | 33,362 | -28,861 | -58,210 |
Accrued income taxes | 121,038 | 88,459 | -92,843 |
Other noncurrent liabilities | -7,779 | -71,998 | -88,870 |
Other, net | -17,190 | -457 | -34,861 |
Net cash provided by operating activities | 809,581 | 497,108 | 362,049 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Purchases of available-for-sale securities | -45,158 | -227,177 | -256,173 |
Sales, maturities and payments received on available-for-sale securities | 107,101 | 118,411 | 66,382 |
Principal payments on mortgage loans held for investment, net | 46,664 | 44,031 | 49,142 |
Capital expenditures | -147,011 | -113,239 | -82,457 |
Payments made for business acquisitions, net of cash acquired | -68,428 | -20,742 | -15,258 |
Proceeds from sale of businesses, net | 942 | 3,785 | 560,499 |
Proceeds from Collection of Notes Receivable | 64,865 | 0 | 0 |
Franchise loans: | ' | ' | ' |
Franchise loans funded | -63,960 | -70,807 | -46,246 |
Payments received on franchise loans | 87,220 | 83,445 | 56,591 |
Surrender of company-owned life insurance policies | 0 | 81,125 | 0 |
Other, net | 28,455 | -9,769 | 19,387 |
Net cash provided by (used in) investing activities | 10,690 | -110,937 | 351,867 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Repayments of commercial paper and other short-term borrowings | -316,000 | -1,214,238 | -664,167 |
Proceeds from issuance of commercial paper and other short-term borrowings | 316,000 | 1,214,238 | 664,167 |
Repayments of Long-term Debt | 0 | -636,621 | 0 |
Proceeds from Issuance of Long-term Debt | 0 | 497,185 | 0 |
Repayments of long-term debt | 0 | 0 | -25,000 |
Customer banking deposits, net | -163,952 | 103,608 | -26,091 |
Dividends paid | -218,980 | -217,201 | -208,801 |
Repurchase of common stock, including shares surrendered | -6,106 | -340,413 | -180,592 |
Proceeds from exercise of stock options | 28,246 | 25,139 | 12,275 |
Other, net | -4,138 | -16,238 | -16,853 |
Net cash used in financing activities | -364,930 | -584,541 | -445,062 |
Effects of exchange rate changes on cash | -17,618 | 1,620 | -2,364 |
Net increase (decrease) in cash and cash equivalents | 437,723 | -196,750 | 266,490 |
Cash and cash equivalents at beginning of the year | 1,747,584 | 1,944,334 | 1,677,844 |
Cash and cash equivalents at end of the year | 2,185,307 | 1,747,584 | 1,944,334 |
SUPPLEMENTARY CASH FLOW DATA: | ' | ' | ' |
Income taxes paid, net of refunds received | 155,735 | 155,617 | 218,444 |
Interest paid on borrowings | 55,221 | 73,559 | 69,681 |
Interest paid on deposits | 2,162 | 5,665 | 6,843 |
Transfers of foreclosed loans to other assets | 7,644 | 10,357 | 10,308 |
Transfer of Portfolio Loans and Leases to Held-for-sale | 7,608 | 0 | 0 |
Accrued additions to property and equipment | 5,257 | 4,261 | 801 |
Accrued purchase of common stock | $0 | $0 | $22,484 |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | Treasury Stock |
In Thousands, unless otherwise specified | ||||||
Beginning Balances, Value at Apr. 30, 2011 | $1,449,574 | $4,124 | $812,666 | $11,233 | $2,658,103 | ($2,036,552) |
Beginning Balances, Shares | ' | -397,887 | ' | ' | ' | -105,768 |
Net income | 265,932 | ' | ' | ' | 265,932 | ' |
Other comprehensive income (loss) | 912 | ' | ' | 912 | ' | ' |
Unrealized translation gain | -2,186 | ' | ' | ' | ' | ' |
Change in net unrealized gain on available-for-sale securities | 3,098 | ' | ' | ' | ' | ' |
Stock-based compensation | 14,968 | ' | 14,968 | ' | ' | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 6,383 | ' | -22,118 | ' | -125 | 28,626 |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | ' | ' | ' | ' | 1,505 |
Shares issued for: | ' | ' | ' | ' | ' | ' |
Acquisition of treasury shares, shares | ' | ' | ' | ' | ' | -198 |
Acquisition of treasury shares, value | -3,087 | ' | ' | ' | ' | -3,087 |
Repurchase and retirement of common shares, shares | -14,554 | -14,554 | ' | ' | ' | ' |
Repurchase and retirement of common shares, value | -199,989 | -145 | -8,732 | ' | -191,112 | ' |
Cash dividends declared and paid | -208,801 | ' | ' | ' | -208,801 | ' |
Ending Balances, Value at Apr. 30, 2012 | 1,325,892 | 3,979 | 796,784 | 12,145 | 2,523,997 | -2,011,013 |
Ending Balances, Shares at Apr. 30, 2012 | ' | -397,887 | ' | ' | ' | -105,768 |
Beginning Balances, Shares | ' | -316,628 | ' | ' | ' | -43,993 |
Net income | 433,948 | ' | ' | ' | 433,948 | ' |
Other comprehensive income (loss) | -1,595 | ' | ' | -1,595 | ' | ' |
Unrealized translation gain | -1,760 | ' | ' | ' | ' | ' |
Change in net unrealized gain on available-for-sale securities | 165 | ' | ' | ' | ' | ' |
Stock-based compensation | 15,293 | ' | 15,293 | ' | ' | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 25,138 | ' | -11,652 | ' | -257 | 37,047 |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | ' | ' | ' | ' | 1,949 |
Shares issued for: | ' | ' | ' | ' | ' | ' |
Acquisition of treasury shares, shares | ' | ' | ' | ' | ' | -174 |
Acquisition of treasury shares, value | -2,928 | ' | ' | ' | ' | -2,928 |
Repurchase and retirement of common shares, shares | -21,259 | -21,259 | ' | ' | ' | ' |
Repurchase and retirement of common shares, value | -315,000 | -213 | -12,542 | ' | -302,245 | ' |
Treasury Stock, Shares, Retired | ' | 60,000 | ' | ' | ' | 60,000 |
Treasury Stock, Retired, Cost Method, Amount | 0 | 600 | 35,400 | ' | 1,104,797 | 1,140,797 |
Cash dividends declared | -217,201 | ' | ' | ' | -217,201 | ' |
Ending Balances, Value at Apr. 30, 2013 | 1,263,547 | 3,166 | 752,483 | 10,550 | 1,333,445 | -836,097 |
Ending Balances, Shares at Apr. 30, 2013 | ' | -316,628 | ' | ' | ' | -43,993 |
Beginning Balances, Shares | ' | -316,628 | ' | ' | ' | -42,400 |
Net income | 475,157 | ' | ' | ' | 475,157 | ' |
Other comprehensive income (loss) | -5,373 | ' | ' | -5,373 | ' | ' |
Unrealized translation gain | -3,475 | ' | ' | ' | ' | ' |
Change in net unrealized gain on available-for-sale securities | -1,898 | ' | ' | ' | ' | ' |
Stock-based compensation | 20,058 | ' | 20,058 | ' | ' | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 28,246 | ' | -5,887 | ' | -325 | 34,458 |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | ' | ' | ' | ' | 1,811 |
Shares issued for: | ' | ' | ' | ' | ' | ' |
Option exercises, shares | 1,179 | ' | ' | ' | ' | ' |
Acquisition of treasury shares, shares | ' | ' | ' | ' | ' | -218 |
Acquisition of treasury shares, value | -6,106 | ' | ' | ' | ' | -6,106 |
Repurchase and retirement of common shares, shares | 0 | ' | ' | ' | ' | ' |
Repurchase and retirement of common shares, value | 0 | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Retired | 60,000 | ' | ' | ' | ' | ' |
Cash dividends declared | -218,980 | ' | ' | ' | -218,980 | ' |
Ending Balances, Value at Apr. 30, 2014 | 1,556,549 | 3,166 | 766,654 | 5,177 | 1,589,297 | -807,745 |
Ending Balances, Shares at Apr. 30, 2014 | ' | -316,628 | ' | ' | ' | -42,400 |
Beginning Balances, Value at Jan. 31, 2014 | ' | ' | ' | ' | ' | ' |
Beginning Balances, Shares | ' | -316,628 | ' | ' | ' | ' |
Net income | 909,998 | ' | ' | ' | ' | ' |
Ending Balances, Value at Apr. 30, 2014 | $1,556,549 | $3,166 | ' | ' | ' | ' |
Ending Balances, Shares at Apr. 30, 2014 | ' | -316,628 | ' | ' | ' | ' |
Consolidated_Statements_Of_Sto1
Consolidated Statements Of Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' |
Cash dividends declared per share | $0.80 | $0.80 | $0.70 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended | |
Apr. 30, 2014 | ||
Summary Of Significant Accounting Policies [Abstract] | ' | |
Summary Of Significant Accounting Policies | ' | |
NATURE OF OPERATIONS – Our operating subsidiaries provide assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States (U.S.) and its territories, Canada and Australia. We also offer retail banking services in the U.S. through H&R Block Bank (HRB Bank), a federal savings bank. | ||
PRINCIPLES OF CONSOLIDATION – The consolidated financial statements include the accounts of the Company and our 100% owned subsidiaries. Intercompany transactions and balances have been eliminated. | ||
Some of our subsidiaries operate in regulated industries and their underlying accounting records reflect the policies and requirements of these industries. | ||
DISCONTINUED OPERATIONS – In fiscal year 2012, we sold RSM McGladrey, Inc. (RSM) and McGladrey Capital Markets LLC (MCM). All periods presented in the consolidated statements of income reflect the results of these operations as discontinued operations. Our results of discontinued operations in fiscal year 2012 include revenues of $417.2 million from RSM and related businesses and a net loss on the sale of RSM and MCM of $48.1 million. | ||
Our discontinued operations also include the results of operations of Sand Canyon Corporation, previously known as Option One Mortgage Corporation (including its subsidiaries, collectively, SCC), which exited its mortgage business in fiscal year 2008. See notes 17 and 18 additional information on litigation, claims and other loss contingencies related to our discontinued operations. | ||
MANAGEMENT ESTIMATES – The preparation of financial statements in conformity with accounting principles generally accepted in the U. S. (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates, assumptions and judgments are applied in the evaluation of contingent losses arising from our discontinued mortgage business, contingent losses associated with pending claims and litigation, valuation allowances on deferred tax assets, reserves for uncertain tax positions and related matters. Estimates have been prepared based on the best information available as of each balance sheet date. As such, actual results could differ materially from those estimates. | ||
CASH AND CASH EQUIVALENTS – All non-restricted highly liquid instruments purchased with an original maturity of three months or less are considered to be cash equivalents. | ||
Outstanding checks in excess of funds on deposit (book overdrafts) included in accounts payable totaled $38.3 million and $35.6 million as of April 30, 2014 and 2013, respectively. | ||
CASH AND CASH EQUIVALENTS – RESTRICTED – Cash and cash equivalents – restricted consists primarily of cash held by HRB Bank required for regulatory compliance and cash held by our captive insurance subsidiary that is expected to be used to pay claims. | ||
RECEIVABLES AND RELATED ALLOWANCES – Our trade receivables consist primarily of accounts receivable from tax clients for tax return preparation. The allowance for doubtful accounts for these receivables requires management's judgment regarding collectibility and current economic conditions to establish an amount considered by management to be adequate to cover estimated losses as of the balance sheet date. Receivables from tax clients for tax return preparation are not specifically identified and charged off; instead they are evaluated on a pooled basis. At the end of each tax season the outstanding balances on these receivables are evaluated based on collections received and expected collections over subsequent tax seasons. | ||
Our financing receivables consist primarily of mortgage loans held for investment, H&R Block Emerald Advance® lines of Credit (EAs), loans made to franchisees, and amounts due under our refund discount program in Canada (Cash Back®). | ||
H&R Block Emerald Advance® lines of credit. EAs are typically offered to clients in our offices from late November through mid-January, currently in an amount not to exceed $1,000. If the borrower meets certain criteria as agreed in the loan terms, the line of credit can be increased and utilized year-round. These lines of credit are offered by HRB Bank. EA balances require an annual paydown on February 15th, and any amounts unpaid are placed on non-accrual status as of March 1st. Payments on past due amounts are applied to principal. | ||
These receivables are not specifically identified; instead we review the credit quality of these receivables on a pooled basis, segregated by the year of origination. We determine our allowance for these receivables based on a review of receipts taking into consideration historical experience. Bad debt rates also consider whether the loan was made to a new or repeat client. At the end of each tax season, the outstanding balances on the past-due receivables are evaluated based on collections received and expected collections over subsequent tax seasons. We charge-off receivables to an amount we believe represents the net realizable value. | ||
Loans made to franchisees. The credit quality of these receivables is assessed at an individual franchisee level, taking into account the franchisee's credit score, the franchisee's payment history on existing loans and operational amounts due to us, the loan-to-value ratio and debt-to-income ratio. Credit scores, loan-to-value and debt-to-income ratios are obtained at the time of underwriting. Payment history is monitored on a regular basis. Based upon our internal analysis and underwriting activities, we believe all loans to franchisees are of similar credit quality. Loans are evaluated for collectibility when they become delinquent. Amounts deemed to be uncollectible are written off to bad debt expense and bad debt related to these loans has typically been immaterial. Additionally, the franchise territory serves as collateral for the loan. In the event the franchisee is unable to repay the loan, we revoke franchise rights, write off the remaining balance of the loan and refranchise the territory or begin operating it as company-owned. | ||
Cash Back® receivables. During the tax season, our Canadian operations advance refunds due to certain clients from the Canada Revenue Agency (CRA), in exchange for a fee. The total fee we charge for this service is mandated by legislation which is administered by the CRA. Interest is not charged on these balances, in accordance with CRA regulations. The client assigns to us the full amount of the tax refund to be issued by the CRA and the refund is then sent by the CRA directly to us. The amount we advance to clients under this program is the amount of their estimated refund, less our fees, any amounts expected to be withheld by the CRA for amounts the client may owe to government authorities and any amounts owed to us from prior years. The CRA's system for tracking amounts due to various government agencies also indicates if the client has already filed a return, does not exist in the CRA's records, or is bankrupt. This serves to greatly reduce the amounts of uncollectible receivables and the risk of fraudulent returns. | ||
We do not specifically identify these receivables; instead we determine our allowance for these receivables based on a review of receipts taking into consideration historical experience. In September of each fiscal year, any balances remaining from the previous tax season are charged-off against the related allowance. | ||
MORTGAGE LOANS HELD FOR INVESTMENT – Mortgage loans held for investment represent loans originated or acquired with the ability and current intent to hold to maturity. Loans held for investment are carried at amortized cost adjusted for charge-offs, net of allowance for loan losses, deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. | ||
We record an allowance representing our estimate of credit losses inherent in the loan portfolio at the balance sheet date. A current assessment of the value of the loan's underlying collateral is made when the loan is no later than 60 days past due and any loan balance in excess of the collateral value less costs to sell the property, is included in the provision for credit losses. | ||
We evaluate mortgage loans less than 60 days past due on a pooled basis and record a loan loss allowance for those loans in the aggregate. We stratify these loans based on our view of risk associated with various elements of the pool and assign estimated loss rates based on those risks. Loss rates consider both the rate at which loans will become delinquent (frequency) and the amount of loss that will ultimately be realized upon occurrence of a liquidation of collateral (severity), and are primarily based on historical experience and our assessment of economic and market conditions. | ||
Loans are considered impaired when we believe it is probable we will be unable to collect all principal and interest due according to the contractual terms of the loan, or when the loan is 60 days past due. Impaired loans are reviewed individually and loss estimates are based on the fair value of the underlying collateral. For loans over 60 days but less than 180 days past due we record a loan loss allowance. For loans 180 days or more past due we charge-off the loan to the value of the collateral less costs to sell. | ||
We classify loans as non-accrual when full and timely collection of interest or principal becomes uncertain, or when they are 90 days past due. Interest previously accrued, but not collected, is reversed against current interest income when a loan is placed on non-accrual status. Accretion of deferred fees is discontinued for non-accrual loans. Payments received on non-accrual loans are recognized as interest income when the loan is considered collectible and applied to principal when it is doubtful that all contractual payments will be collected. Loans are not placed back on accrual status until collection of principal and interest is reasonably assured as a result of the borrower bringing the loan into compliance with the contractual terms of the loan. Prior to restoring a loan to accrual status, management considers a borrower's prospects for continuing future contractual payments. | ||
From time to time, as part of our loss mitigation process, we may agree to modify the contractual terms of a borrower's loan. We have developed loan modification programs designed to help borrowers refinance adjustable-rate mortgage loans prior to rate reset or who may otherwise have difficulty making their payments. In cases where we modify a loan and in so doing grant a concession to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (TDR). We may consider the borrower's payment status and history, the borrower's ability to pay upon a rate reset on an adjustable-rate mortgage, the size of the payment increase upon a rate reset, the period of time remaining prior to the rate reset, and other relevant factors in determining whether a borrower is experiencing financial difficulty. A borrower who is current may be deemed to be experiencing financial difficulty in instances where the evidence suggests an inability to pay based on the original terms of the loan after the interest rate reset and that, in the absence of a modification, may default on the loan. We evaluate whether the modification represents a concession we would not otherwise consider, such as a lower interest rate than what a new borrower of similar credit risk would be offered. A loan modified in a TDR, including a loan that was current at the time of modification, is placed on non-accrual status until we determine future collection of principal and interest is reasonably assured, which generally requires the borrower to demonstrate a period of performance according to the restructured terms. At the time of the modification, we record impairment for TDR loans equal to the difference between the principal balance of the loan and the present value of expected future cash flows discounted at the loan's effective interest rate. However, if we later assess that foreclosure of a modified loan is probable, we record an impairment based on the estimated fair value (typically appraised value less costs to sell) of the underlying collateral. | ||
INVESTMENTS – Our investments in marketable securities are classified as available-for-sale (AFS) and are reported at fair value. Unrealized gains and losses are calculated using the specific identification method and reported, net of applicable taxes, as a component of accumulated other comprehensive income. Realized gains and losses on the sale of these securities are determined using the specific identification method. | ||
We monitor our AFS investment portfolio for impairment and consider many factors in determining whether the impairment is deemed to be other-than-temporary. These factors include, but are not limited to, the length of time the security has had a market value less than the cost basis, the severity of loss, our intent to sell (including regulatory or contractual requirements to sell), recent events specific to the issuer or industry, external credit ratings and recent downgrades in such ratings. | ||
For investments in mortgage-backed securities, amortization of premiums and accretion of discounts are recognized in interest income using the interest method, adjusted for anticipated prepayments where applicable. We update our estimates of expected cash flows periodically and recognize changes in calculated effective yields as appropriate. | ||
PROPERTY AND EQUIPMENT – Buildings and equipment are initially recorded at cost and are depreciated over the estimated useful life of the assets using the straight-line method. Leasehold improvements are initially recorded at cost and are amortized over the lesser of the remaining term of the respective lease or the estimated useful life, using the straight-line method. Estimated useful lives are 15 to 40 years for buildings, three to five years for computers and other equipment, three years for purchased software and up to eight years for leasehold improvements. | ||
Substantially all of the operations of our subsidiaries are conducted in leased premises. For all lease agreements, including those with escalating rent payments or rent holidays, we recognize rent expense on a straight-line basis. | ||
GOODWILL AND INTANGIBLE ASSETS – Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not amortized, but rather is tested for impairment annually, or more frequently if indications of potential impairment exist. | ||
Impairment testing compares the carrying amount of the reporting unit, including goodwill, with its fair value. Fair value is estimated based on discounted cash flows and comparable market information. If the carrying amount of the reporting unit exceeds its fair value, an impairment charge may be indicated. | ||
Intangible assets with finite lives are amortized over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. The weighted-average life of intangible assets with finite lives is 24 years. Intangible assets are typically amortized over the estimated useful life of the assets using the straight-line method. An impairment loss would be indicated when estimated undiscounted future cash flows from the use of the asset are less than its carrying amount. An impairment loss would be measured as the difference between the fair value (based on discounted future cash flows) and the carrying amount of the asset. | ||
We capitalize certain allowable costs associated with software developed for internal use. These costs are typically amortized over three to five years using the straight-line method. | ||
TREASURY SHARES – We record shares of common stock repurchased by us as treasury shares, at cost, resulting in a reduction of stockholders' equity. Periodically, we may retire shares held in treasury as determined by our Board of Directors. We reissue treasury shares as part of our stock-based compensation programs or for acquisitions. When shares are reissued, we determine the cost using the average cost method. | ||
REVENUE RECOGNITION – Service revenues consist primarily of fees for preparation and filing of tax returns, both in offices and through our online programs, fees associated with our Peace of Mind® (POM) guarantee program and interchange income associated with our H&R Block Prepaid Emerald MasterCard® program. Service revenues are recognized in the period in which the service is performed as follows: | ||
▪ | Assisted and online tax preparation revenues are recorded when a completed return is electronically filed or accepted by the customer. | |
▪ | POM revenues are deferred and recognized over the term of the guarantee, based on actual claims paid in relation to projected claims. | |
▪ | Revenues associated with our H&R Block Prepaid Emerald MasterCard® program consist of interchange income from the use of debit cards and fees from the use of ATM networks. Interchange income is a fee paid by a merchant bank to the card-issuing bank through the interchange network, and is recognized based on cardholder transactions. | |
Royalty, product and other revenues include royalties from franchisees and sales of software products, and are recognized as follows: | ||
▪ | Upon granting of a franchise, franchisees pay a refundable deposit generally in the amount of $2,500, but pay no initial franchise fee. We record the payment as a deposit liability and recognize no revenue in connection with the initial granting of a franchise. Franchise royalties, which are based on contractual percentages of franchise revenues, are recorded in the period in which the franchise provides the service. | |
▪ | Revenue from the sale of software is recognized when the product is sold to the end user. Rebates, slotting fees and other incentives paid in connection with these sales are recorded as a reduction of revenue. | |
Interest income consists primarily of interest earned on EAs and mortgage loans held for investment and is recognized as follows: | ||
▪ | Interest income on EAs and loans to franchisees is calculated using the average daily balance method and is recognized based on the principal amount outstanding until the outstanding balance is paid or becomes delinquent. | |
▪ | Interest income on mortgage loans held for investment includes deferred origination fees and costs and purchase discounts and premiums, which are amortized to income over the life of the loan using the interest method. | |
▪ | Loan commitment fees, net of related expenses, are initially deferred and recognized as revenue over the commitment period. | |
Sales tax we collect and remit to taxing authorities is recorded net in the consolidated statements of income and is included in other cost of revenues. | ||
ADVERTISING EXPENSE – Advertising costs for radio and television ads are expensed the first time the advertisement takes place, with print and mailing advertising expensed as incurred. | ||
EMPLOYEE BENEFIT PLANS – We have a 401(k) defined contribution plan covering eligible full-time and seasonal employees following the completion of an eligibility period. Contributions to this plan are discretionary and totaled $11.8 million, $11.3 million and $12.8 million for continuing operations in fiscal years 2014, 2013 and 2012, respectively. | ||
We have severance plans covering executives and eligible regular full-time or part-time active employees of a participating employer who incur a qualifying termination. Expenses related to severance benefits of continuing operations totaled $5.2 million, $4.8 million and $32.5 million in fiscal years 2014, 2013 and 2012, respectively. | ||
FOREIGN CURRENCY TRANSLATION – Our international subsidiaries generally consider their local currency to be their functional currency. Revenues and expenses of our foreign operations are translated at the average exchange rates in effect during the fiscal year. Assets and liabilities of foreign subsidiaries are translated into U.S. dollars at exchange rates prevailing at the end of the year and the differences from historical exchange rates are reflected as a separate component of other comprehensive income in stockholders' equity. | ||
Translation adjustments on amounts outstanding under intercompany borrowings, resulted in foreign currency losses of $18.2 million in fiscal year 2014, compared to gains of $0.2 million and losses of $0.4 million in fiscal years 2013 and 2012, respectively, for continuing operations. | ||
NEW ACCOUNTING PRONOUNCEMENTS – In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, "Revenue from Contracts with Customers," (ASU 2014-09) which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This guidance will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for us on May 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting. | ||
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income" (ASU 2013-02). This update requires disclosure of amounts reclassified out of accumulated other comprehensive income by component. We adopted ASU 2013-02 on May 1, 2013 and the required disclosures are included in note 12. |
HR_Block_Bank
H&R Block Bank | 12 Months Ended |
Apr. 30, 2014 | |
Discontinued Operations and Disposal Groups [Abstract] | ' |
H&R Block Bank | ' |
In April 2014, our subsidiaries, HRB Bank and Block Financial LLC, the sole shareholder of HRB Bank (Block Financial), entered into a definitive Purchase and Assumption Agreement (P&A Agreement) with BofI Federal Bank, a federal savings bank (BofI). The P&A Agreement is subject to various closing conditions, including the receipt of certain required approvals, entry into certain additional agreements, and the fulfillment of various other customary conditions. If closing conditions (including regulatory approvals) are satisfied, we will complete a closing of the P&A Transaction, including the sale of certain assets and transfer of certain liabilities (principally deposit liabilities) to BofI. Due to the seasonality of our business, the timing of any closing will impact the amount deposit liabilities transferred. | |
If a closing had occurred as of April 30, 2014, we would have made a cash payment to BofI for the difference in the carrying value of assets sold and the carrying value of liabilities transferred of approximately $745 million. The amount of the cash payment made at closing will primarily be equal to the carrying value of the liabilities to be transferred since the carrying value of the assets to be transferred is immaterial. Actual amounts at closing will differ from amounts as of April 30, 2014. We expect to fund any closing date cash payment due to BofI through liquidation of our AFS securities (carrying value of $423 million at April 30, 2014), with any remaining balance expected to be funded through available cash balances. As a result of our intent to liquidate our AFS securities, we recorded an other-than-temporary impairment in our fourth quarter of fiscal year 2014 of $12.4 million. | |
In connection with the additional agreements being entered into upon the closing of the P&A Transaction, BofI will offer H&R Block-branded financial products distributed by the Company to the Company's clients. An operating subsidiary of the Company will provide certain marketing, servicing and operational support to BofI with respect to such financial products. | |
The P&A Transaction is part of a three-step transaction pursuant to which the Company plans to divest HRB Bank (Divestiture Transaction), including: (1) the conversion of HRB Bank from a federal savings bank to a national bank; (2) the sale of certain HRB Bank assets and liabilities, including all deposit liabilities, to BofI in the P&A Transaction; and (3) the merger of HRB Bank with and into Block Financial. | |
The Company, H&R Block Group, Inc. and Block Financial (our Holding Companies) are savings and loan holding companies (SLHCs) because they control HRB Bank. By consummating the Divestiture Transaction, our Holding Companies will cease to be SLHCs and will no longer be subject to regulation by the Board of Governors of the Federal Reserve System (Federal Reserve) as an SLHC or to the regulatory capital requirements applicable to SLHCs. | |
The obligations of the parties to complete the P&A Transaction are subject to the fulfillment of numerous conditions including regulatory approval. We cannot be certain when or if the conditions to and other components of the P&A Transaction will be satisfied, or whether the P&A Transaction will be completed. In addition, there may be changes to the terms and conditions of the P&A Agreement and other contemplated agreements as part of the regulatory approval process. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share | ' | ||||||||||||
Basic and diluted earnings per share is computed using the two-class method. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Per share amounts are computed by dividing net income from continuing operations attributable to common shareholders by the weighted average shares outstanding during each period. | |||||||||||||
The computations of basic and diluted earnings per share from continuing operations are as follows: | |||||||||||||
(in 000s, except per share amounts) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Net income from continuing operations attributable to shareholders | $ | 500,097 | $ | 465,158 | $ | 345,968 | |||||||
Amounts allocated to participating securities | (692 | ) | (542 | ) | (455 | ) | |||||||
Net income from continuing operations attributable to common shareholders | $ | 499,405 | $ | 464,616 | $ | 345,513 | |||||||
Basic weighted average common shares | 273,830 | 273,057 | 297,863 | ||||||||||
Potential dilutive shares | 2,197 | 1,302 | 738 | ||||||||||
Dilutive weighted average common shares | 276,027 | 274,359 | 298,601 | ||||||||||
Earnings per share from continuing operations attributable to common shareholders: | |||||||||||||
Basic | $ | 1.82 | $ | 1.7 | $ | 1.16 | |||||||
Diluted | 1.81 | 1.69 | 1.16 | ||||||||||
Diluted earnings per share excludes the impact of shares of common stock issuable upon the lapse of certain restrictions or the exercise of options to purchase 0.1 million, 3.3 million and 8.9 million shares of stock for fiscal years 2014, 2013 and 2012, respectively, as the effect would be antidilutive. |
Receivables
Receivables | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable, Unclassified [Abstract] | ' | ||||||||||||||||||||
Receivables | ' | ||||||||||||||||||||
Short-term receivables consist of the following: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||
Loans to franchisees | $ | 63,716 | $ | 65,413 | |||||||||||||||||
Receivables for tax preparation and related fees | 45,619 | 49,356 | |||||||||||||||||||
Cash Back® receivables | 48,812 | 47,658 | |||||||||||||||||||
Emerald Advance lines of credit | 20,577 | 23,218 | |||||||||||||||||||
Royalties from franchisees | 9,978 | 10,722 | |||||||||||||||||||
Other | 55,494 | 60,867 | |||||||||||||||||||
244,196 | 257,234 | ||||||||||||||||||||
Allowance for doubtful accounts | (52,578 | ) | (50,399 | ) | |||||||||||||||||
$ | 191,618 | $ | 206,835 | ||||||||||||||||||
The short-term portion of EAs, loans made to franchisees and Cash Back® balances is included in receivables, while the long-term portion is included in other assets in the consolidated balance sheets. These amounts are as follows: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
EAs | Loans | Cash Back® | |||||||||||||||||||
to Franchisees | |||||||||||||||||||||
As of April 30, 2014: | |||||||||||||||||||||
Short-term | $ | 20,577 | $ | 63,716 | $ | 48,812 | |||||||||||||||
Long-term | 3,862 | 90,747 | — | ||||||||||||||||||
$ | 24,439 | $ | 154,463 | $ | 48,812 | ||||||||||||||||
As of April 30, 2013: | |||||||||||||||||||||
Short-term | $ | 23,218 | $ | 65,413 | $ | 47,658 | |||||||||||||||
Long-term | 9,819 | 103,047 | — | ||||||||||||||||||
$ | 33,037 | $ | 168,460 | $ | 47,658 | ||||||||||||||||
Emerald Advance Lines of Credit. We review the credit quality of our EA receivables based on pools, which are segregated by the year of origination, with older years being deemed more unlikely to be repaid. These amounts as of April 30, 2014, by year of origination, are as follows: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
Credit Quality Indicator – Year of origination: | |||||||||||||||||||||
2014 | $ | 6,065 | |||||||||||||||||||
2013 | 1,890 | ||||||||||||||||||||
2012 and prior | 4,677 | ||||||||||||||||||||
Revolving loans | 11,807 | ||||||||||||||||||||
$ | 24,439 | ||||||||||||||||||||
As of April 30, 2014 and 2013, $20.7 million and $30.0 million of EAs were on non-accrual status and classified as impaired, or more than 60 days past due, respectively. | |||||||||||||||||||||
Loans to Franchisees. Loans made to franchisees as of April 30, 2014 consisted of $109.1 million in term loans made primarily to finance the purchase of franchises and $45.4 million in revolving lines of credit primarily for the purpose of funding off-season working capital needs. Loans made to franchisees as of April 30, 2013 consisted of $121.2 million in term loans and $47.3 million in revolving lines of credit. | |||||||||||||||||||||
As of April 30, 2014, we had no loans more than 30 days past due, compared to loans with a principal amount of $0.1 million more than 30 days past due as of April 30, 2013. We had no loans to franchisees on non-accrual status as of April 30, 2014 or 2013. | |||||||||||||||||||||
Canadian Cash Back® Program. Refunds advanced under the Cash Back program are not subject to credit approval, therefore the primary indicator of credit quality is the age of the receivable amount. Cash Back amounts are generally received within 60 days of filing the client's return. As of April 30, 2014 and 2013, $1.9 million and $1.8 million, respectively, of Cash Back balances were more than 60 days old. | |||||||||||||||||||||
Allowance for Doubtful Accounts. Activity in the allowance for doubtful accounts for our short-term and long-term receivables is as follows: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
EAs | Loans | Cash Back® | All Other | Total | |||||||||||||||||
to Franchisees | |||||||||||||||||||||
Balance as of May 1, 2011 | $ | 4,400 | $ | — | $ | 3,892 | $ | 39,651 | $ | 47,943 | |||||||||||
Provision | 28,057 | — | 1,631 | 36,974 | 66,662 | ||||||||||||||||
Charge-offs | (26,257 | ) | — | (3,244 | ) | (40,515 | ) | (70,016 | ) | ||||||||||||
Balance as of April 30, 2012 | 6,200 | — | 2,279 | 36,110 | 44,589 | ||||||||||||||||
Provision | 28,430 | — | 4,647 | 42,649 | 75,726 | ||||||||||||||||
Charge-offs | (27,240 | ) | — | (4,157 | ) | (31,215 | ) | (62,612 | ) | ||||||||||||
Balance as of April 30, 2013 | 7,390 | — | 2,769 | 47,544 | 57,703 | ||||||||||||||||
Provision | 24,619 | 45 | 3,760 | 42,634 | 71,058 | ||||||||||||||||
Charge-offs | (24,479 | ) | (45 | ) | (3,527 | ) | (48,132 | ) | (76,183 | ) | |||||||||||
Balances as of April 30, 2014 | $ | 7,530 | $ | — | $ | 3,002 | $ | 42,046 | $ | 52,578 | |||||||||||
Mortgage_Loans_Held_For_Invest
Mortgage Loans Held For Investment And Related Assets | 12 Months Ended | ||||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||||
Mortgage Loans Held For Investment And Related Assets [Abstract] | ' | ||||||||||||||||||||||||
Mortgage Loans Held For Investment And Related Assets | ' | ||||||||||||||||||||||||
The composition of our mortgage loan portfolio is as follows: | |||||||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Amount | % of Total | Amount | % of Total | ||||||||||||||||||||||
Adjustable-rate loans | $ | 149,480 | 54 | % | $ | 191,093 | 55 | % | |||||||||||||||||
Fixed-rate loans | 127,943 | 46 | % | 159,142 | 45 | % | |||||||||||||||||||
277,423 | 100 | % | 350,235 | 100 | % | ||||||||||||||||||||
Unamortized deferred fees and costs | 2,277 | 2,868 | |||||||||||||||||||||||
Less: Allowance for loan losses | (11,272 | ) | (14,314 | ) | |||||||||||||||||||||
$ | 268,428 | $ | 338,789 | ||||||||||||||||||||||
Our loan loss allowance as a percent of mortgage loans was 4.1% as of April 30, 2014 and 2013. | |||||||||||||||||||||||||
Activity in the allowance for loan losses for the years ended April 30, 2014, 2013 and 2012 is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Balance as of the beginning of the year | $ | 14,314 | $ | 26,540 | $ | 92,087 | |||||||||||||||||||
Provision | 8,271 | 13,283 | 24,075 | ||||||||||||||||||||||
Recoveries | 4,040 | 3,338 | 292 | ||||||||||||||||||||||
Charge-offs | (15,353 | ) | (28,847 | ) | (89,914 | ) | |||||||||||||||||||
Balance as of the end of the year | $ | 11,272 | $ | 14,314 | $ | 26,540 | |||||||||||||||||||
Charge-offs increased during fiscal year 2012 primarily due to a change in practice determined by our regulators, under which we now charge-off loans 180 days past due. | |||||||||||||||||||||||||
When determining our allowance for loan losses, we evaluate loans less than 60 days past due on a pooled basis, while loans we consider impaired, including those loans more than 60 days past due or modified as TDRs, are evaluated individually. The balance of these loans and the related allowance is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Portfolio Balance | Related Allowance | Portfolio Balance | Related Allowance | ||||||||||||||||||||||
Pooled (less than 60 days past due) | $ | 158,496 | $ | 4,508 | $ | 207,319 | $ | 5,628 | |||||||||||||||||
Impaired: | |||||||||||||||||||||||||
Individually (TDRs) | 43,865 | 4,346 | 55,061 | 4,924 | |||||||||||||||||||||
Individually (60 days or more past due) | 75,062 | 2,418 | 87,855 | 3,762 | |||||||||||||||||||||
$ | 277,423 | $ | 11,272 | $ | 350,235 | $ | 14,314 | ||||||||||||||||||
Detail of our mortgage loans held for investment and the related allowance as of April 30, 2014 is as follows: | |||||||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||||||
Outstanding Principal Balance | Loan Loss Allowance | % 30+ Days | |||||||||||||||||||||||
Amount | % of Principal | Past Due | |||||||||||||||||||||||
Purchased from SCC | $ | 159,566 | $ | 8,655 | 5.4 | % | 27.1 | % | |||||||||||||||||
All other | 117,857 | 2,617 | 2.2 | % | 7.5 | % | |||||||||||||||||||
$ | 277,423 | $ | 11,272 | 4.1 | % | 20.1 | % | ||||||||||||||||||
We review the credit quality of our portfolio primarily based on the following criteria: (1) originator; (2) the level of documentation obtained for loan at origination; (3) occupancy status of property at origination; (4) geography; and (5) credit score and loan to value at origination. We specifically evaluate each loan and assign an internal risk rating of high, medium or low to each loan. The risk rating is based upon multiple loan characteristics that correlate to delinquency and loss. These characteristics include, but are not limited to, the five criteria listed above. These loan attributes are evaluated quarterly against a variety of additional characteristics to ensure the appropriate data is being utilized to determine the level of risk within the portfolio. All criteria are obtained at the time of origination and are only subsequently updated if the loan is refinanced. | |||||||||||||||||||||||||
Credit quality indicators as of April 30, 2014 include the following: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Credit Quality Indicators | Purchased from SCC | All Other | Total Portfolio | ||||||||||||||||||||||
Occupancy status: | |||||||||||||||||||||||||
Owner occupied | $ | 117,457 | $ | 77,572 | $ | 195,029 | |||||||||||||||||||
Non-owner occupied | 42,109 | 40,285 | 82,394 | ||||||||||||||||||||||
$ | 159,566 | $ | 117,857 | $ | 277,423 | ||||||||||||||||||||
Documentation level: | |||||||||||||||||||||||||
Full documentation | $ | 53,019 | $ | 83,833 | $ | 136,852 | |||||||||||||||||||
Limited documentation | 4,897 | 12,971 | 17,868 | ||||||||||||||||||||||
Stated income | 88,207 | 13,075 | 101,282 | ||||||||||||||||||||||
No documentation | 13,443 | 7,978 | 21,421 | ||||||||||||||||||||||
$ | 159,566 | $ | 117,857 | $ | 277,423 | ||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||
High | $ | 45,688 | $ | — | $ | 45,688 | |||||||||||||||||||
Medium | 113,878 | — | 113,878 | ||||||||||||||||||||||
Low | — | 117,857 | 117,857 | ||||||||||||||||||||||
$ | 159,566 | $ | 117,857 | $ | 277,423 | ||||||||||||||||||||
Loans given our internal risk rating of "high" generally had no documentation or were based on stated income. Loans given our internal risk rating of "medium" generally had full documentation or were based on stated income, with loan-to-value ratios at origination of more than 80%, and were made to borrowers with credit scores below 700 at origination. Loans given our internal risk rating of "low" generally had loan-to-value ratios at origination of less than 80% and were made to borrowers with credit scores greater than 700 at origination. | |||||||||||||||||||||||||
Our mortgage loans held for investment include concentrations of loans to borrowers in certain states, which may result in increased exposure to loss as a result of changes in real estate values and underlying economic or market conditions related to a particular geographical location. Approximately 51% of our mortgage loan portfolio consists of loans to borrowers located in the states of Florida, California and New York. | |||||||||||||||||||||||||
Detail of the aging of the mortgage loans in our portfolio as of April 30, 2014 is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Less than 60 | 60 – 89 Days | 90+ Days | Total | Current | Total | ||||||||||||||||||||
Days Past Due | Past Due | Past Due(1) | Past Due | ||||||||||||||||||||||
Purchased from SCC | $ | 12,052 | $ | 2,623 | $ | 49,431 | $ | 64,106 | $ | 95,460 | $ | 159,566 | |||||||||||||
All other | 5,421 | 847 | 8,451 | 14,719 | 103,138 | 117,857 | |||||||||||||||||||
$ | 17,473 | $ | 3,470 | $ | 57,882 | $ | 78,825 | $ | 198,598 | $ | 277,423 | ||||||||||||||
(1) | We do not accrue interest on loans past due 90 days or more. | ||||||||||||||||||||||||
Information related to our non-accrual loans is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Purchased from SCC | $ | 61,767 | $ | 70,327 | |||||||||||||||||||||
Other | 12,528 | 14,906 | |||||||||||||||||||||||
74,295 | 85,233 | ||||||||||||||||||||||||
TDRs: | |||||||||||||||||||||||||
Purchased from SCC | 4,648 | 3,719 | |||||||||||||||||||||||
Other | 951 | 502 | |||||||||||||||||||||||
5,599 | 4,221 | ||||||||||||||||||||||||
Total non-accrual loans | $ | 79,894 | $ | 89,454 | |||||||||||||||||||||
Information related to impaired loans is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Balance | Balance | Total | Related Allowance | ||||||||||||||||||||||
With Allowance | With No Allowance | Impaired Loans | |||||||||||||||||||||||
As of April 30, 2014: | |||||||||||||||||||||||||
Purchased from SCC | $ | 27,924 | $ | 71,075 | $ | 98,999 | $ | 3,239 | |||||||||||||||||
Other | 5,176 | 14,752 | 19,928 | 3,525 | |||||||||||||||||||||
$ | 33,100 | $ | 85,827 | $ | 118,927 | $ | 6,764 | ||||||||||||||||||
As of April 30, 2013: | |||||||||||||||||||||||||
Purchased from SCC | $ | 33,791 | $ | 84,592 | $ | 118,383 | $ | 6,573 | |||||||||||||||||
Other | 7,601 | 16,932 | 24,533 | 2,113 | |||||||||||||||||||||
$ | 41,392 | $ | 101,524 | $ | 142,916 | $ | 8,686 | ||||||||||||||||||
Information related to the allowance for impaired loans is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Portion of total allowance for loan losses allocated to impaired loans and TDR loans: | |||||||||||||||||||||||||
Based on collateral value method | $ | 2,418 | $ | 3,762 | |||||||||||||||||||||
Based on discounted cash flow method | 4,346 | 4,924 | |||||||||||||||||||||||
$ | 6,764 | $ | 8,686 | ||||||||||||||||||||||
Information related to our impaired loans is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
For the year ended April 30, | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Average impaired loans: | |||||||||||||||||||||||||
Purchased from SCC | $ | 93,873 | $ | 133,936 | $ | 211,867 | |||||||||||||||||||
All other | 22,607 | 25,425 | 33,940 | ||||||||||||||||||||||
$ | 116,480 | $ | 159,361 | $ | 245,807 | ||||||||||||||||||||
Interest income recognized on impaired and nonaccrual loans was immaterial for all periods presented. |
Investments
Investments | 12 Months Ended | ||||||||||||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||
Investments | ' | ||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities classified as AFS are summarized below: | |||||||||||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Cost | Unrealized | Unrealized | ||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||
Mortgage-backed securities | $ | 420,697 | $ | 2,798 | $ | — | $ | 423,495 | $ | 476,450 | $ | 6,592 | $ | (664 | ) | $ | 482,378 | ||||||||||||||||
Municipal bonds | 4,120 | 209 | — | 4,329 | 4,178 | 320 | — | 4,498 | |||||||||||||||||||||||||
$ | 424,817 | $ | 3,007 | $ | — | $ | 427,824 | $ | 480,628 | $ | 6,912 | $ | (664 | ) | $ | 486,876 | |||||||||||||||||
During fiscal year 2014, we recorded other-than-temporary impairments of AFS securities totaling $12.4 million. We did not record any other-than-temporary impairments of AFS securities during fiscal years 2013 or 2012. | |||||||||||||||||||||||||||||||||
Substantially all AFS debt securities held as of April 30, 2014 mature after five years. |
Property_And_Equipment
Property And Equipment | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Property, Plant and Equipment, Net [Abstract] | ' | ||||||||
Property And Equipment | ' | ||||||||
The components of property and equipment, net of accumulated depreciation and amortization, are as follows: | |||||||||
(in 000s) | |||||||||
As of April 30, | 2014 | 2013 | |||||||
Buildings | $ | 100,034 | $ | 108,265 | |||||
Computers and other equipment | 139,290 | 112,203 | |||||||
Leasehold improvements | 51,197 | 38,771 | |||||||
Purchased software | 9,997 | 4,660 | |||||||
Construction in process | 2,527 | 2,094 | |||||||
Land and other non-depreciable assets | 1,866 | 1,887 | |||||||
$ | 304,911 | $ | 267,880 | ||||||
Depreciation and amortization expense of property and equipment for continuing operations for fiscal years 2014, 2013 and 2012 was $84.7 million, $68.2 million and $61.4 million, respectively. |
Goodwill_And_Intangible_Assets
Goodwill And Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Goodwill And Intangible Assets | ' | ||||||||||||||||||||||||
Changes in the carrying amount of goodwill of our Tax Services segment for the years ended April 30, 2014 and 2013 are as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Goodwill | Accumulated Impairment Losses | Net | |||||||||||||||||||||||
Balance as of May 1, 2012 | $ | 459,863 | $ | (32,297 | ) | $ | 427,566 | ||||||||||||||||||
Acquisitions | 7,625 | — | 7,625 | ||||||||||||||||||||||
Disposals and foreign currency changes, net | (409 | ) | — | (409 | ) | ||||||||||||||||||||
Impairments | — | — | — | ||||||||||||||||||||||
Balance as of April 30, 2013 | 467,079 | (32,297 | ) | 434,782 | |||||||||||||||||||||
Acquisitions | 3,086 | — | 3,086 | ||||||||||||||||||||||
Disposals and foreign currency changes, net | (1,751 | ) | — | (1,751 | ) | ||||||||||||||||||||
Impairments | — | — | — | ||||||||||||||||||||||
Balance as of April 30, 2014 | $ | 468,414 | $ | (32,297 | ) | $ | 436,117 | ||||||||||||||||||
We tested goodwill for impairment in the fourth quarter of fiscal year 2014, and did not identify any impairment. | |||||||||||||||||||||||||
In fiscal year 2012, we discontinued service under our ExpressTax brand and closed approximately 200 underperforming company-owned offices. As a result, we recorded an impairment of goodwill, in the amount of $7.4 million. There is no remaining goodwill related to our ExpressTax brand. | |||||||||||||||||||||||||
Components of the intangible assets of our Tax Services segment are as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Carrying | Amortization | Carrying | Amortization | ||||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||
Reacquired franchise rights | $ | 233,749 | $ | (26,136 | ) | $ | 207,613 | $ | 214,330 | $ | (18,204 | ) | $ | 196,126 | |||||||||||
Customer relationships | 123,110 | (59,521 | ) | 63,589 | 100,719 | (48,733 | ) | 51,986 | |||||||||||||||||
Internally-developed software | 101,162 | (72,598 | ) | 28,564 | 91,745 | (72,764 | ) | 18,981 | |||||||||||||||||
Noncompete agreements | 24,694 | (22,223 | ) | 2,471 | 23,058 | (21,728 | ) | 1,330 | |||||||||||||||||
Franchise agreements | 19,201 | (6,934 | ) | 12,267 | 19,201 | (5,654 | ) | 13,547 | |||||||||||||||||
Purchased technology | 54,900 | (13,782 | ) | 41,118 | 14,800 | (12,331 | ) | 2,469 | |||||||||||||||||
Trade name | 300 | (300 | ) | — | 300 | (300 | ) | — | |||||||||||||||||
$ | 557,116 | $ | (201,494 | ) | $ | 355,622 | $ | 464,153 | $ | (179,714 | ) | $ | 284,439 | ||||||||||||
In fiscal year 2014, we acquired the assets of a business for $30.3 million. Assets acquired consisted primarily of purchased technology. | |||||||||||||||||||||||||
Amortization of intangible assets of continuing operations for the years ended April 30, 2014, 2013 and 2012 was $30.9 million, $24.2 million and $27.8 million, respectively. We recorded impairments of various intangible assets totaling $3.6 million during fiscal year 2013, including those related to our former RedGear reporting unit. We recorded an impairment of customer relationships of $4.0 million during fiscal year 2012, related to the discontinuation of our ExpressTax brand, as discussed above. Estimated amortization of intangible assets for fiscal years 2015, 2016, 2017, 2018 and 2019 is $39.2 million, $32.4 million, $27.0 million, $23.7 million and $20.7 million, respectively. |
Customer_Banking_Deposits
Customer Banking Deposits | 12 Months Ended | ||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||
Deposits [Abstract] | ' | ||||||||||||||||
Customer Banking Deposits | ' | ||||||||||||||||
The components of customer banking deposits as of April 30, 2014 and 2013 and the related interest expense recorded during the periods are as follows: | |||||||||||||||||
(in 000s) | |||||||||||||||||
April 30, | 2014 | 2013 | |||||||||||||||
Outstanding | Interest | Outstanding | Interest | ||||||||||||||
Balance | Expense | Balance | Expense | ||||||||||||||
Short-term: | |||||||||||||||||
Money-market deposits | $ | 24,870 | $ | 1,228 | $ | 188,939 | $ | 1,827 | |||||||||
Savings deposits | 7,611 | 66 | 18,608 | 138 | |||||||||||||
Checking deposits: | |||||||||||||||||
Interest-bearing | 189 | 7 | 1,941 | 21 | |||||||||||||
Non-interest-bearing | 429,992 | — | 391,654 | — | |||||||||||||
430,181 | 7 | 393,595 | 21 | ||||||||||||||
IRAs and other time deposits: | |||||||||||||||||
Due in one year | 3,054 | 18,529 | |||||||||||||||
IRAs | 304,069 | 316,793 | |||||||||||||||
307,123 | 808 | 335,322 | 3,674 | ||||||||||||||
$ | 769,785 | $ | 2,109 | $ | 936,464 | $ | 5,660 | ||||||||||
Long-term: | |||||||||||||||||
Due in two years | $ | 166 | $ | 1,436 | |||||||||||||
Due in three years | 7 | 106 | |||||||||||||||
Due in four years | 315 | 13 | |||||||||||||||
Due in five years | 15 | 312 | |||||||||||||||
$ | 503 | $ | — | $ | 1,867 | $ | — | ||||||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Debt Instruments [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
The components of long-term debt are as follows: | |||||||||
(in 000s) | |||||||||
As of April 30, | 2014 | 2013 | |||||||
Senior Notes, 5.500%, due November 2022 | $ | 497,612 | $ | 497,330 | |||||
Senior Notes, 5.125%, due October 2014 | 399,882 | 399,648 | |||||||
Capital lease obligation, due over the next 9 years | 8,980 | 9,702 | |||||||
906,474 | 906,680 | ||||||||
Less: Current portion | (400,637 | ) | (722 | ) | |||||
$ | 505,837 | $ | 905,958 | ||||||
UNSECURED COMMITTED LINE OF CREDIT – In August 2012, we entered into a five-year, $1.5 billion unsecured committed line of credit governed by a Credit and Guarantee Agreement (2012 CLOC). The 2012 CLOC bears interest at an annual rate of LIBOR plus an applicable rate ranging from 0.750% to 1.45% or PRIME plus an applicable rate ranging from 0.000% to 0.450% (depending on the type of borrowing and our then current credit ratings) and includes an annual facility fee ranging from 0.125% to 0.300% of the committed amounts (also depending on our then current credit ratings). The 2012 CLOC is subject to various conditions, triggers, events or occurrences that could result in earlier termination and contains customary representations, warranties, covenants and events of default, including, without limitation: (1) a covenant requiring the Company to maintain a debt-to-EBITDA ratio calculated on a consolidated basis of no greater than (a) 3.50 for the fiscal quarters ending on April 30, July 31, and October 31 of each year and (b) 3.75 for the fiscal quarter ending on January 31 of each year; (2) a covenant requiring us to maintain an interest coverage (EBITDA-to-interest expense) ratio calculated on a consolidated basis of no less than 2.50 as of the last date of any fiscal quarter; and (3) covenants restricting our ability to incur additional debt, incur liens, merge or consolidate with other companies, sell or dispose of their respective assets (including equity interests), liquidate or dissolve, make investments, loans, advances, guarantees and acquisitions, and engage in certain transactions with affiliates or certain restrictive agreements. The 2012 CLOC includes provisions that allow for the issuance of equity which would be added to EBITDA in determining compliance with the financial covenant calculations as a separate and additional means to avoid a shortfall. We were in compliance with these requirements as of April 30, 2014. We had no balance outstanding under the 2012 CLOC as of April 30, 2014; however, we may borrow amounts under the 2012 CLOC from time to time in the future to support working capital requirements or for general corporate purposes. | |||||||||
SENIOR NOTES – On October 25, 2012, we issued $500.0 million of 5.50% Senior Notes due November 1, 2022. The Senior Notes are not redeemable by the bondholders prior to maturity. The Senior Notes' interest rate is subject to adjustment based upon our credit ratings. | |||||||||
On October 26, 2004, we issued $400.0 million of 5.125% Senior Notes due October 30, 2014 and are not redeemable by the bondholders prior to maturity. | |||||||||
The 5.50% Senior Notes due 2022 and the 5.125% Senior Notes due 2014 were issued by our 100% owned subsidiary Block Financial and were fully and unconditionally guaranteed by H&R Block, Inc. The notes and the guarantees are senior unsecured obligations of the two entities. The indenture governing the notes does not contain any financial covenants and contains only limited restrictive covenants. | |||||||||
OTHER INFORMATION – The aggregate payments required to retire long-term debt are $400.6 million, $0.8 million, $0.8 million, $1.0 million, $1.0 million and $502.3 million in fiscal years 2015, 2016, 2017, 2018, 2019 and beyond, respectively. | |||||||||
HRB Bank is a member of the FHLB, which extends credit to member banks based on eligible collateral. As of April 30, 2014, HRB Bank had FHLB advance capacity of $190.6 million. As of April 30, 2014, we had no amounts outstanding on this facility. AFS securities of $203.9 million serve as eligible collateral and are used to determine total capacity. |
Fair_Value_Measurement
Fair Value Measurement | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurement | ' | ||||||||||||||||||||
FAIR VALUE MEASUREMENT – | |||||||||||||||||||||
We use the following classification of financial instruments pursuant to the fair value hierarchy methodologies for assets measured at fair value: | |||||||||||||||||||||
▪ | Level 1 – inputs to the valuation are quoted prices in an active market for identical assets. | ||||||||||||||||||||
▪ | Level 2 – inputs to the valuation include quoted prices for similar assets in active markets utilizing a third-party pricing service to determine fair value. | ||||||||||||||||||||
▪ | Level 3 – valuation is based on significant inputs that are unobservable in the market and our own estimates of assumptions that we believe market participants would use in pricing the asset. | ||||||||||||||||||||
Assets measured on a recurring basis are initially measured at fair value and are required to be remeasured at fair value in the financial statements at each reporting date. Our investments in mortgage-backed securities and municipal bonds are carried at fair value on a recurring basis with gains and losses reported as a component of other comprehensive income, except for losses assessed to be other than temporary. These include certain agency and agency-sponsored mortgage-backed securities and municipal bonds. Quoted market prices are not available for these securities, as they are not actively traded and have fewer observable transactions. As a result, we use third-party pricing services to determine fair value and classify the securities as Level 2. The third-party pricing services' models are based on market data and utilize available trade, bid and other market information for similar securities. There were no transfers of AFS securities between hierarchy levels during the fiscal years ended April 30, 2014 and 2013. See note 6 for details of our AFS securities that were remeasured at fair value on a recurring basis during the fiscal years ended April 30, 2014 and 2013 and the gains or losses on those remeasurements. | |||||||||||||||||||||
Assets measured on a nonrecurring basis are assets that, as a result of an event or circumstance, were required to be remeasured at fair value after initial recognition in the financial statements at some time during the reporting period. The following table presents the assets that were remeasured at fair value on a non-recurring basis during the fiscal years ended April 30, 2014 and 2013 and the losses on those remeasurements: | |||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Losses | |||||||||||||||||
As of April 30, 2014: | |||||||||||||||||||||
Impaired mortgage loans held for investment | $ | 69,131 | $ | — | $ | — | $ | 69,131 | $ | (3,739 | ) | ||||||||||
As a percentage of total assets | 1.5 | % | — | — | 1.5 | % | |||||||||||||||
As of April 30, 2013: | |||||||||||||||||||||
Impaired mortgage loans held for investment | $ | 84,708 | $ | — | $ | — | $ | 84,708 | $ | (10,663 | ) | ||||||||||
As a percentage of total assets | 1.9 | % | — | — | 1.9 | % | |||||||||||||||
The fair value of impaired mortgage loans held for investment is generally based on the net present value of discounted cash flows for TDR loans or the appraised value of the underlying collateral for all other loans. Impaired and TDR loans are required to be remeasured at least annually, based on HRB Bank's loan policy. These loans are classified as Level 3. | |||||||||||||||||||||
We have established various controls and procedures to ensure that the unobservable inputs used in the fair value measurement of these instruments are appropriate. Appraisals are obtained from certified appraisers and reviewed internally by HRB Bank's asset management group. The inputs and assumptions used in our discounted cash flow model for TDRs are reviewed and approved by HRB Bank management each time the balances are remeasured. Significant changes in fair value from the previous measurement are presented to HRB Bank management for approval. There were no changes to the unobservable inputs used in determining the fair values of our Level 3 financial assets. | |||||||||||||||||||||
The following table presents the quantitative information about our Level 3 fair value measurements, which utilize significant unobservable internally-developed inputs: | |||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||
Fair Value at | Valuation | Unobservable Input | Range | ||||||||||||||||||
April 30, 2014 | Technique | (Weighted Average) | |||||||||||||||||||
Impaired mortgage loans held for investment - non TDRs | $ | 72,644 | Collateral- | Cost to list/sell | 0% – 185%(9%) | ||||||||||||||||
based | Time to sell (months) | 24(24) | |||||||||||||||||||
Collateral depreciation | (166%) – 100%(50%) | ||||||||||||||||||||
Loss severity | 0% – 100%(64%) | ||||||||||||||||||||
Impaired mortgage loans held for investment - TDRs | $ | 39,519 | Discounted | Aged default performance | 24% – 39%(32%) | ||||||||||||||||
cash flow | Loss severity | 0% – 22%(6%) | |||||||||||||||||||
ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS – | |||||||||||||||||||||
The carrying amounts and estimated fair values of our financial instruments are as follows: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | Fair Value | |||||||||||||||||
Amount | Fair Value | Amount | Fair Value | Hierarchy | |||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 2,185,307 | $ | 2,185,307 | $ | 1,747,584 | $ | 1,747,584 | Level 1 | ||||||||||||
Cash and cash equivalents - restricted | 115,319 | 115,319 | 117,837 | 117,837 | Level 1 | ||||||||||||||||
Receivables, net - short-term | 191,618 | 191,618 | 206,835 | 206,810 | Level 1 | ||||||||||||||||
Mortgage loans held for investment, net | 268,428 | 192,281 | 338,789 | 210,858 | Level 3 | ||||||||||||||||
Investments in AFS securities | 427,824 | 427,824 | 486,876 | 486,876 | Level 2 | ||||||||||||||||
Receivables, net - long-term | 104,678 | 104,678 | 125,048 | 134,283 | Level 1 and 3 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Customer banking deposits | 770,288 | 765,376 | 938,331 | 934,019 | Level 1 and 3 | ||||||||||||||||
Long-term debt | 906,474 | 955,050 | 906,680 | 964,630 | Level 2 | ||||||||||||||||
Contingent consideration payments | 9,206 | 9,206 | 11,277 | 11,277 | Level 3 | ||||||||||||||||
Fair value estimates, methods and assumptions are set forth below. The fair value was not estimated for assets and liabilities that are not considered financial instruments. | |||||||||||||||||||||
▪ | Cash and cash equivalents, including restricted - Fair value approximates the carrying amount. | ||||||||||||||||||||
▪ | Receivables, net - short-term - For short-term balances the carrying values reported in the balance sheet approximate fair market value due to the relative short-term nature of the respective instruments. | ||||||||||||||||||||
▪ | Mortgage loans held for investment, net - The fair value of mortgage loans held for investment is determined using market pricing sources based on projected future cash flows of each individual asset, and loan characteristics including channel and performance characteristics. | ||||||||||||||||||||
▪ | Investments in AFS securities - We use a third-party pricing service to determine fair value. The service's pricing model is based on market data and utilizes available trade, bid and other market information for similar securities. | ||||||||||||||||||||
▪ | Receivables, net - long-term - The carrying values for the long-term portion of loans to franchisees approximate fair market value due to variable interest rates, low historical delinquency rates and franchise territories serving as collateral (Level 1). Long-term EA receivables are carried at net realizable value which approximates fair value (Level 3). Net realizable value is determined based on historical collection rates. | ||||||||||||||||||||
▪ | Customer banking deposits - The fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, checking, money market and savings accounts, is equal to the amount payable on demand (Level 1). The fair value of IRAs and other time deposits is estimated by discounting the future cash flows using the rates currently offered by HRB Bank for products with similar remaining maturities (Level 3). | ||||||||||||||||||||
▪ | Long-term debt - The fair value of our Senior Notes is based on quotes from multiple banks. | ||||||||||||||||||||
▪ | Contingent consideration payments - Fair value approximates the carrying amount. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||
Stockholders' Equity | ' | ||||||||||||
COMMON STOCK – A summary of our share repurchase and retirements for fiscal years 2014, 2013 and 2012 is as follows: | |||||||||||||
(in 000s) | |||||||||||||
Shares | Cost | ||||||||||||
Fiscal year: | |||||||||||||
2014 | — | $ | — | ||||||||||
2013 | 21,259 | 315,000 | |||||||||||
2012 | 14,554 | 199,989 | |||||||||||
During fiscal year 2013, we also retired 60.0 million shares of treasury stock. This retirement of treasury stock had no impact on our total consolidated stockholders' equity. | |||||||||||||
OTHER COMPREHENSIVE INCOME – Components of other comprehensive income include foreign currency translation adjustments and the change in net unrealized gains or losses on AFS marketable securities, and are as follows: | |||||||||||||
(in 000s) | |||||||||||||
Foreign Currency | Unrealized Gain (Loss) | Total | |||||||||||
Translation Adjustments | on AFS Securities | ||||||||||||
Balance as of May 1, 2011 | $ | 10,755 | $ | 478 | $ | 11,233 | |||||||
Other comprehensive income before reclassifications: | |||||||||||||
Gross gains (losses) arising during the year | (3,429 | ) | 5,313 | 1,884 | |||||||||
Tax expense (benefit) | (1,243 | ) | 2,121 | 878 | |||||||||
(2,186 | ) | 3,192 | 1,006 | ||||||||||
Amounts reclassified to net income: | |||||||||||||
Gross amount reclassified | — | (152 | ) | (152 | ) | ||||||||
Tax expense (benefit) | — | 58 | 58 | ||||||||||
— | (94 | ) | (94 | ) | |||||||||
Net other comprehensive income (loss) | (2,186 | ) | 3,098 | 912 | |||||||||
Balance as of April 30, 2012 | 8,569 | 3,576 | 12,145 | ||||||||||
Other comprehensive income before reclassifications: | |||||||||||||
Gross gains (losses) arising during the year | (1,979 | ) | 498 | (1,481 | ) | ||||||||
Tax expense (benefit) | (219 | ) | 229 | 10 | |||||||||
(1,760 | ) | 269 | (1,491 | ) | |||||||||
Amounts reclassified to net income: | |||||||||||||
Gross amount reclassified | — | (175 | ) | (175 | ) | ||||||||
Tax expense | — | 71 | 71 | ||||||||||
— | (104 | ) | (104 | ) | |||||||||
Net other comprehensive income (loss) | (1,760 | ) | 165 | (1,595 | ) | ||||||||
Balance as of April 30, 2013 | 6,809 | 3,741 | 10,550 | ||||||||||
Other comprehensive income before reclassifications: | |||||||||||||
Gross gains (losses) arising during the year | (3,416 | ) | 2,594 | (822 | ) | ||||||||
Tax expense (benefit) | 59 | 787 | 846 | ||||||||||
(3,475 | ) | 1,807 | (1,668 | ) | |||||||||
Amounts reclassified to net income: | |||||||||||||
Gross amount reclassified (1) | — | (5,835 | ) | (5,835 | ) | ||||||||
Tax expense | — | 2,130 | 2,130 | ||||||||||
— | (3,705 | ) | (3,705 | ) | |||||||||
Net other comprehensive loss | (3,475 | ) | (1,898 | ) | (5,373 | ) | |||||||
Balance as of April 30, 2014 | $ | 3,334 | $ | 1,843 | $ | 5,177 | |||||||
(1) Amount represents a gross realized gain of $18.3 million on the sale of residual interests in mortgage securitizations, net of other-than-temporary impairments on AFS securities of $12.4 million. | |||||||||||||
Gross amounts reclassified out of accumulated other comprehensive income are included in other income, net in the consolidated income statements. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||
Apr. 30, 2014 | |||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||
We have a stock-based Long Term Incentive Plan (Plan), under which we can grant stock options, restricted shares, performance-based share units, restricted share units, deferred stock units and other forms of equity to employees, non-employee directors and consultants. Stock-based compensation expense of our continuing operations totaled $20.1 million, $15.3 million and $14.2 million in fiscal years 2014, 2013 and 2012, respectively, net of related tax benefits of $7.6 million, $5.8 million and $5.4 million, respectively. We realized tax benefits of $10.6 million, $5.0 million and $4.4 million in fiscal years 2014, 2013 and 2012, respectively. | |||||||||||||||
As of April 30, 2014, we had 10.5 million shares reserved for future awards under our Plan. We issue shares from our treasury stock to satisfy the exercise or vesting of stock-based awards and believe we have adequate treasury stock balances available for future issuances. | |||||||||||||||
We measure the fair value of options on the grant date or modification date using the Black-Scholes-Merton (Black-Scholes) option valuation model based upon the expected term of the options. We measure the fair value of nonvested shares and share units based on the closing price of our common stock on the grant date. We measure the fair value of performance-based share units based on the Monte Carlo valuation model, taking into account as necessary those provisions of the performance-based nonvested share units that are characterized as market conditions. We generally expense the grant-date fair value, net of estimated forfeitures, over the vesting period on a straight-line basis. | |||||||||||||||
Options, nonvested shares and nonvested share units (other than performance-based nonvested share units) granted to employees typically vest pro-rata based upon service over a three-year or four-year period with a portion vesting each year. Performance-based nonvested share units granted to employees typically cliff vest at the end of a three-year period based upon satisfaction of both service-based and performance-based requirements. The number of performance-based share units that ultimately vest ranges from zero to 250 percent of the number granted, based on the form of award, performance metrics such as earnings before interest, taxes, depreciation and amortization (EBITDA), revenues or pretax earnings and various market conditions such as our total shareholder return (TSR) ranked against other public companies or our stock price. Deferred stock units granted to non-employee directors vest when they are granted and are settled six months after the director separates from service as a director of the Company, except in the case of death. | |||||||||||||||
All share units granted to employees and non-employee directors receive cumulative dividend equivalents at the time of distribution. Options granted under our Plan have a maximum contractual term of ten years. | |||||||||||||||
STOCK OPTIONS – A summary of options for the fiscal year ended April 30, 2014, is as follows: | |||||||||||||||
(dollars in 000s, except per share amounts) | |||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||
Exercise Price | Remaining | Intrinsic Value | |||||||||||||
Contractual Term | |||||||||||||||
Outstanding, beginning of the year | 4,504 | $ | 17.53 | ||||||||||||
Granted | 35 | 28.26 | |||||||||||||
Exercised | (1,179 | ) | 18.15 | ||||||||||||
Forfeited or expired | (237 | ) | 18.56 | ||||||||||||
Outstanding, end of the year | 3,123 | $ | 17.34 | 6 years | $ | 34,655 | |||||||||
Exercisable, end of the year | 2,317 | $ | 17.5 | 6 years | $ | 25,344 | |||||||||
Exercisable and expected to vest | 3,076 | 17.33 | 6 years | 34,150 | |||||||||||
The total intrinsic value of options exercised during fiscal years 2014, 2013 and 2012 was $13.6 million, $6.0 million and $1.0 million, respectively. As of April 30, 2014, we had $1.0 million of total unrecognized compensation cost related to outstanding options. The cost is expected to be recognized over a weighted-average period of one year. | |||||||||||||||
When valuing our options on the grant date, we typically estimate the expected volatility using our historical stock price data. We also use historical exercise and forfeiture behaviors to estimate the options expected term and our forfeiture rate. The dividend yield is calculated based on the current dividend and the market price of our common stock on the grant date. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve in effect on the grant date. Both expected volatility and the risk-free interest rate are based on a period that approximates the expected term. | |||||||||||||||
The following assumptions were used to value options during the periods: | |||||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||||
Options - management and director: | |||||||||||||||
Expected volatility | 30.89% - 31.57% | 29.69% - 31.43% | 31.75% - 32.34% | ||||||||||||
Expected term | 4 years | 4 - 5 years | 5 years | ||||||||||||
Dividend yield | 2.77% - 2.87% | 4.18% - 5.21% | 3.43% - 4.80% | ||||||||||||
Risk-free interest rate | 1.06% - 1.31% | 0.61% - 0.75% | 0.79% - 1.95% | ||||||||||||
Weighted-average fair value | $ | 5.57 | $ | 2.79 | $ | 3.31 | |||||||||
OTHER AWARDS – A summary of nonvested shares, nonvested share units and deferred stock units, including those that are performance-based, for the year ended April 30, 2014, is as follows: | |||||||||||||||
(shares in 000s) | |||||||||||||||
Nonvested Shares and Nonvested Share Units | Performance-Based Nonvested Share Units | ||||||||||||||
Shares | Weighted-Average | Shares | Weighted-Average | ||||||||||||
Grant Date | Grant Date | ||||||||||||||
Fair Value | Fair Value | ||||||||||||||
Outstanding, beginning of the year | 1,806 | $ | 14.64 | 658 | $ | 16.89 | |||||||||
Granted | 488 | 27.69 | 390 | 28.59 | |||||||||||
Released | (578 | ) | 14.89 | — | — | ||||||||||
Forfeited | (149 | ) | 17.74 | (82 | ) | 21.82 | |||||||||
Outstanding, end of the year | 1,567 | $ | 18.23 | 966 | $ | 20.98 | |||||||||
The total fair value of shares and units vesting during fiscal years 2014, 2013 and 2012 was $8.6 million, $7.2 million and $11.9 million, respectively. As of April 30, 2014, we had $23.5 million of total unrecognized compensation cost related to these shares. This cost is expected to be recognized over a weighted-average period of two years. | |||||||||||||||
When valuing our performance-based nonvested share units on the grant date, we typically estimate the expected volatility using historical volatility for H&R Block, Inc. and selected comparable companies. The dividend yield is calculated based on the current dividend and the market price of our common stock on the grant date. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve in effect on the grant date. Both expected volatility and the risk-free interest rate are based on a period that approximates the expected term. The following assumptions were used to value performance-based nonvested share units using the Monte Carlo valuation model during the periods: | |||||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||||
Expected volatility | 11.75% – 70.17% | 12.61% – 71.96% | 20.68% – 143.12% | ||||||||||||
Expected term | 3 years | 3 years | 3 years | ||||||||||||
Dividend yield (1) | 0% – 2.88% | 0% – 5.01% | — | % | |||||||||||
Risk-free interest rate | 0.61 | % | 0.4 | % | 0.75 | % | |||||||||
Weighted-average fair value | $ | 28.59 | $ | 16.72 | $ | 17.46 | |||||||||
(1) | The valuation model assumes that dividends are reinvested by the Company on a continuous basis. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
The components of income from continuing operations upon which domestic and foreign income taxes have been provided are as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Domestic | $ | 754,036 | $ | 664,966 | $ | 547,535 | |||||||
Foreign | 13,080 | 37,045 | 28,535 | ||||||||||
$ | 767,116 | $ | 702,011 | $ | 576,070 | ||||||||
The components of income tax expense (benefit) for continuing operations are as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Current: | |||||||||||||
Federal | $ | 195,277 | $ | 219,411 | $ | 126,773 | |||||||
State | 33,274 | 43,116 | 21,285 | ||||||||||
Foreign | 6,749 | 3,173 | 8,647 | ||||||||||
235,300 | 265,700 | 156,705 | |||||||||||
Deferred: | |||||||||||||
Federal | 28,624 | (29,258 | ) | 55,032 | |||||||||
State | 5,475 | (69 | ) | 18,154 | |||||||||
Foreign | (2,380 | ) | 480 | 211 | |||||||||
31,719 | (28,847 | ) | 73,397 | ||||||||||
Total income taxes for continuing operations | $ | 267,019 | $ | 236,853 | $ | 230,102 | |||||||
The reconciliation between the income tax provision and the amount computed by applying the statutory federal tax rate of 35% to income taxes of continuing operations is as follows: | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
U.S. statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Change in tax rate resulting from: | |||||||||||||
State income taxes, net of federal income tax benefit | 3.8 | % | 4 | % | 4.2 | % | |||||||
Permanent differences | 0.1 | % | (0.1 | )% | 0.5 | % | |||||||
Uncertain tax positions | (5.6 | )% | (4.1 | )% | (0.6 | )% | |||||||
Change in valuation allowance | 1.5 | % | (1.0 | )% | 0.2 | % | |||||||
Other | — | % | (0.1 | )% | 0.6 | % | |||||||
Effective tax rate | 34.8 | % | 33.7 | % | 39.9 | % | |||||||
The reduction in the tax rate for fiscal year 2014 related to uncertain tax positions reflects changes to tax reserves related to settlements and new information regarding prior year tax positions. | |||||||||||||
The net loss from discontinued operations for fiscal years 2014, 2013 and 2012 totaled $24.9 million, $31.2 million and $80.0 million, respectively, and was net of tax benefits of $15.4 million, $19.7 million and $74.9 million, respectively. | |||||||||||||
The significant components of deferred tax assets and liabilities are reflected in the following table: | |||||||||||||
(in 000s) | |||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||
Gross deferred tax assets: | |||||||||||||
Accrued expenses | $ | 34,052 | $ | 15,842 | |||||||||
Allowance for credit losses and related reserves | 115,145 | 114,570 | |||||||||||
Capital loss carry-forward | — | 45,826 | |||||||||||
Valuation allowance | (10,837 | ) | (28,088 | ) | |||||||||
Current | 138,360 | 148,150 | |||||||||||
Deferred and stock-based compensation | 21,348 | 20,758 | |||||||||||
Deferred revenue | 8,090 | 30,225 | |||||||||||
Net operating loss carry-forward | 21,434 | 20,070 | |||||||||||
Federal tax benefits related to state unrecognized tax benefits | 28,601 | 30,374 | |||||||||||
Capital loss carry-forward | — | 2,379 | |||||||||||
Other | 9,861 | 3,901 | |||||||||||
Valuation allowance | (8,339 | ) | (26,525 | ) | |||||||||
Noncurrent | 80,995 | 81,182 | |||||||||||
219,355 | 229,332 | ||||||||||||
Gross deferred tax liabilities: | |||||||||||||
Prepaid expenses | (3,033 | ) | (2,830 | ) | |||||||||
Current | (3,033 | ) | (2,830 | ) | |||||||||
Property and equipment | (28,610 | ) | (25,794 | ) | |||||||||
Mortgage-related investment | (15,441 | ) | (20,033 | ) | |||||||||
Intangibles | (59,881 | ) | (36,565 | ) | |||||||||
Noncurrent | (103,932 | ) | (82,392 | ) | |||||||||
Net deferred tax assets | $ | 112,390 | $ | 144,110 | |||||||||
Our valuation allowance on deferred tax assets decreased $35.4 million from $54.6 million at April 30, 2013, to $19.2 million at April 30, 2014. The decrease in the valuation allowance related almost entirely to deferred tax assets for capital loss carry-forwards totaling $45.8 million at April 30, 2013, which were fully realized during the fiscal year ended April 30, 2014. | |||||||||||||
During 2014 we determined we would not implement a previously identified qualified tax-planning strategy for which we had expected to implement and realized a tax benefit in a prior period. Our decision to abandon this tax planning strategy resulted in an increase to our valuation allowance and income tax expense of $9.2 million. Additionally, we made an election on our U.S. income tax return to treat a transfer of ownership of an international subsidiary to a consolidated affiliate in a manner which resulted in recognizing a capital gain for income tax purposes. No gain or loss was recorded for financial reporting purposes upon this transfer of ownership. As a result of this transaction we reduced deferred tax assets for capital loss carry-forwards and corresponding valuation allowances to zero, with no impact to income tax expense or our effective tax rate. | |||||||||||||
Certain of our subsidiaries file stand-alone returns in various states and foreign jurisdictions, and others join in filing consolidated or combined returns in such jurisdictions. As of April 30, 2014, we had net operating losses (NOLs) in various states and foreign jurisdictions. The amount of state NOLs vary by taxing jurisdiction. We maintain a deferred tax asset of $21.4 million for the tax effects of such losses and a valuation allowance of $15.1 million for the portion of such losses that, more likely than not, will not be realized. If not used, the NOLs will expire in varying amounts during fiscal years 2015 through 2033. | |||||||||||||
We intend to indefinitely reinvest the foreign earnings of our foreign subsidiaries; therefore, no provision has been made for income taxes that might be payable upon remittance of such earnings. The amount of unrecognized tax liability on these foreign earnings, net of expected foreign tax credits, is less than $10 million as of April 30, 2014. | |||||||||||||
Changes in unrecognized tax benefits for fiscal years 2014, 2013 and 2012 are as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Balance, beginning of the year | $ | 146,391 | $ | 206,393 | $ | 154,848 | |||||||
Additions based on tax positions related to prior years | 9,743 | 11,867 | 26,523 | ||||||||||
Reductions based on tax positions related to prior years | (25,403 | ) | (49,493 | ) | (3,858 | ) | |||||||
Additions based on tax positions related to the current year | 7,399 | 2,314 | 42,735 | ||||||||||
Reductions related to settlements with tax authorities | (23,993 | ) | (25,259 | ) | (8,742 | ) | |||||||
Expiration of statute of limitations | (11,853 | ) | (702 | ) | (2,814 | ) | |||||||
Foreign currency translation | — | (278 | ) | (838 | ) | ||||||||
Other | 9,207 | 1,549 | (1,461 | ) | |||||||||
Balance, end of the year | $ | 111,491 | $ | 146,391 | $ | 206,393 | |||||||
The total gross unrecognized tax benefit ending balance as of April 30, 2014, 2013 and 2012, includes $73.7 million, $95.3 million and $150.4 million, respectively, which if recognized, would impact our effective tax rate. The difference results from adjusting the gross balances for such items as federal, state and foreign deferred items, interest and deductible taxes. We believe it is reasonably possible that the balance of unrecognized tax benefits could decrease by approximately $5 million within the next twelve months due to settlements of audit issues and expiration of statutes of limitations. | |||||||||||||
Interest and penalties, if any, accrued on the unrecognized tax benefits are reflected in income tax expense. The total gross interest and penalties accrued as of April 30, 2014, 2013 and 2012 totaled $24.6 million, $31.7 million and $38.6 million, respectively. | |||||||||||||
We file a consolidated federal income tax return in the U.S. with the Internal Revenue Service (IRS) and file tax returns in various state and foreign jurisdictions. Tax returns are typically examined and settled upon completion of the examination, with tax controversies settled either at the examination level or through the appeals process. | |||||||||||||
In August 2013, we received written approval from the IRS Joint Committee on Taxation of the settlement of all issues related to the examination of our 2008 through 2010 tax returns. We recorded the impact of the settlement during fiscal year 2014, which reduced uncertain tax benefits by $17.3 million. In addition, we settled with certain state tax authorities during fiscal year 2014, reducing uncertain tax benefits by $6.7 million. These settlements did not have a significant impact on our effective tax rate in fiscal year 2014. These settlements and the receipt of the related tax refunds resulted in a decline in prepaid expenses and other current assets, as we recorded a $151.3 million current asset for the anticipated refund as of April 30, 2013. | |||||||||||||
Federal consolidated tax returns for calendar years 2011 and 2012 are currently under examination. Our federal consolidated income tax returns for calendar years 2013 and 2014 have not yet been filed but, once filed, will be subject to potential examination. |
Interest_Income_And_Interest_E
Interest Income And Interest Expense | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Interest Income And Interest Expense [Abstract] | ' | ||||||||||||
Interest Income And Interest Expense | ' | ||||||||||||
The following table shows the components of interest income and expense of continuing operations: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Interest income: | |||||||||||||
Emerald Advance lines of credit | $ | 56,877 | $ | 59,657 | $ | 59,660 | |||||||
Mortgage loans, net | 13,810 | 16,556 | 20,322 | ||||||||||
Loans to franchisees | 9,494 | 10,023 | 10,234 | ||||||||||
AFS securities | 9,664 | 7,000 | 4,463 | ||||||||||
Other | 8,249 | 5,593 | 5,121 | ||||||||||
$ | 98,094 | $ | 98,829 | $ | 99,800 | ||||||||
Interest expense: | |||||||||||||
Borrowings | $ | 55,279 | $ | 74,297 | $ | 84,782 | |||||||
Deposits | 2,109 | 5,660 | 6,735 | ||||||||||
FHLB advances | — | — | 572 | ||||||||||
$ | 57,388 | $ | 79,957 | $ | 92,089 | ||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Commitments And Contingencies | ' | ||||||||||||
We offer guarantees under our POM program to tax clients whereby we (1) represent our clients if they are audited by the IRS, and (2) assume the cost, up to a cumulative per client limit of $5,500, of additional taxes owed by a client resulting from errors attributable to H&R Block. We defer all revenues and direct costs associated with these guarantees, recognizing these amounts over the term of the guarantee based on actual claims paid in relation to projected claims. The related current asset is included in prepaid expenses and other current assets. The related liability is included in accounts payable, accrued expenses and other current liabilities in the consolidated balance sheets. The related noncurrent asset and liability are included in other assets and other noncurrent liabilities, respectively, in the consolidated balance sheets. A loss on these POM guarantees would be recognized if the sum of expected costs for services exceeded unearned revenue. Changes in the related balance of deferred revenue are as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | |||||||||||
Balance, beginning of the year | $ | 146,286 | $ | 141,080 | |||||||||
Amounts deferred for new guarantees issued | 88,636 | 76,561 | |||||||||||
Revenue recognized on previous deferrals | (89,685 | ) | (71,355 | ) | |||||||||
Balance, end of the year | $ | 145,237 | $ | 146,286 | |||||||||
We accrued $11.4 million and $18.0 million as of April 30, 2014 and 2013, respectively, related to estimated losses under our standard guarantee, which is included with our standard in-office tax preparation services. The current portion of this liability is included in accounts payable, accrued expenses and other current liabilities and the long-term portion is included in other noncurrent liabilities in the consolidated balance sheets. | |||||||||||||
We have accrued estimated contingent consideration payments totaling $9.2 million and $11.3 million as of April 30, 2014 and 2013, respectively, related to acquisitions, with the short-term amount recorded in accounts payable, accrued expenses and other current liabilities and the long-term portion included in other noncurrent liabilities. Estimates of contingent payments are typically based on expected financial performance of the acquired business and economic conditions at the time of acquisition. Should actual results differ from our assumptions, future payments made will differ from the above estimate and any differences will be recorded in results from continuing operations. | |||||||||||||
We have contractual commitments to fund certain franchises with approved revolving lines of credit. Our total obligation under these lines of credit was $90.6 million as of April 30, 2014, and net of amounts drawn and outstanding, our remaining commitment to fund totaled $45.3 million. | |||||||||||||
We are self-insured for certain risks, including, employer provided medical benefits, workers' compensation, property and casualty, professional liability and claims related to our POM program. These programs maintain various self-insured retentions. In all but our POM program in company-owned offices, commercial insurance is purchased in excess of the self-insured retentions. We accrue estimated losses for self-insured retentions using actuarial models and assumptions based on historical loss experience. | |||||||||||||
We have a deferred compensation plan that permits certain employees to defer portions of their compensation and accrue income on the deferred amounts. Included in other noncurrent liabilities is $38.1 million and $42.5 million as of April 30, 2014 and 2013, respectively, reflecting our obligation under these plans. | |||||||||||||
We maintain compensating balances with certain financial institutions that are creditors in our 2012 CLOC, which are not legally restricted as to withdrawal. These balances totaled $215.3 million as of April 30, 2014. These balances may fluctuate significantly over the course of any given fiscal year. | |||||||||||||
Substantially all of the operations of our subsidiaries are conducted in leased premises. Most of the operating leases are for periods ranging from three years to five years, with renewal options, and provide for fixed monthly rentals. Future minimum operating lease commitments as of April 30, 2014, are as follows: | |||||||||||||
(in 000s) | |||||||||||||
2015 | $ | 183,701 | |||||||||||
2016 | 119,377 | ||||||||||||
2017 | 70,447 | ||||||||||||
2018 | 33,047 | ||||||||||||
2019 | 11,892 | ||||||||||||
2020 and beyond | 5,166 | ||||||||||||
$ | 423,630 | ||||||||||||
Rent expense of continuing operations for fiscal years 2014, 2013 and 2012 totaled $203.3 million, $201.0 million and $218.3 million, respectively. | |||||||||||||
See notes 17 and 18 to the consolidated financial statements for additional discussion regarding guarantees and indemnifications. | |||||||||||||
SCC ceased originating mortgage loans in December 2007 and, in April 2008, sold its servicing assets and discontinued its remaining operations. | |||||||||||||
Mortgage loans originated by SCC were sold either as whole loans to single third-party buyers, who generally securitized such loans, or in the form of RMBSs. In connection with the sale of loans and/or RMBSs, SCC made certain representations and warranties. These representations and warranties varied based on the nature of the transaction and the buyer's or insurer's requirements, but generally pertained to the ownership of the loan, the validity of the lien securing the loan, borrower fraud, the loan's compliance with the criteria for inclusion in the transaction, including compliance with SCC's underwriting standards or loan criteria established by the buyer, ability to deliver required documentation, and compliance with applicable laws. Representations and warranties related to borrower fraud in whole loan sale transactions to institutional investors, which were generally securitized by such investors, represented approximately 68% of the disposal of loans originated in calendar years 2005, 2006 and 2007, included a "knowledge qualifier" limiting SCC's liability to those instances where SCC had knowledge of the fraud at the time the loans were sold. Representations and warranties made in other sale transactions effectively did not include a knowledge qualifier as to borrower fraud. SCC believes it would have an obligation to repurchase a loan only if it breached a representation and warranty and such breach materially and adversely affects the value of the mortgage loan or certificate holder's interest in the mortgage loan. SCC also would assert that it has no liability for the failure to repurchase any mortgage loan that has been liquidated prior to a repurchase demand, although there is limited and conflicting case law on the liquidated loan defense issue. Such claims together with any settlement arrangements related to these losses are collectively referred to as "representation and warranty claims." | |||||||||||||
Representation and warranty claims received by SCC have primarily related to alleged breaches of representations and warranties related to a loan's compliance with the underwriting standards established by SCC at origination and borrower fraud for loans originated in calendar years 2006 and 2007. SCC has received claims representing an original principal amount of $2.1 billion since May 1, 2008, of which $190 million were received in fiscal year 2013 and $1.1 billion in fiscal year 2012. SCC received new claims totaling $70.3 million during fiscal year 2014, all of which were initiated by parties with whom SCC has tolling agreements. These tolling agreements toll the running of any applicable statute of limitations related to potential lawsuits regarding representation and warranty claims and other claims against SCC. The tolling agreements are with counterparties that have made and are expected to assert a significant majority of previously denied and expected future representation and warranty claims. There were no material outstanding claims subject to review as of April 30, 2014. | |||||||||||||
SETTLEMENT ACTIONS – SCC has entered into tolling agreements with the counterparties that have initiated the majority of claims received by SCC. Beginning in the fourth quarter of fiscal year 2013 and continuing in fiscal year 2014, SCC has been engaged in discussions with these counterparties regarding the bulk settlement of previously denied and potential future claims. Based on settlement discussions with these counterparties, SCC believes a bulk settlement approach, rather than the loan-by-loan resolution process, will be needed to resolve all of the representation and warranty and other claims that are the subject of these discussions. In the event that current efforts to settle are not successful, SCC believes claim volumes may increase or litigation may result. | |||||||||||||
SCC will continue to vigorously contest any request for repurchase when it has concluded that a valid basis for repurchase does not exist. SCC's decision whether to engage in bulk settlement discussions is based on factors that vary by counterparty or type of counterparty and include the considerations used by SCC in determining its loss estimate, described below under "Liability for Estimated Contingent Losses." | |||||||||||||
LIABILITY FOR ESTIMATED CONTINGENT LOSSES – SCC accrues a liability for losses related to representation and warranty claims when those losses are believed to be both probable and reasonably estimable. Development of loss estimates is subject to a high degree of management judgment and estimates may vary significantly period to period. SCC's loss estimate as of April 30, 2014 is based on the best information currently available, significant management judgment, and a number of factors that are subject to change, including developments in case law and the factors mentioned below. These factors include the terms of prior bulk settlement, the terms expected to result from ongoing bulk settlement discussions, and an assessment of, among other things, historical claim results, threatened claims, terms and provisions of related agreements, counterparty willingness to pursue a settlement, legal standing of counterparties to provide a comprehensive settlement, the potential pro-rata realization of the claims as compared to all claims and other relevant facts and circumstances when developing its estimate of probable loss. SCC believes that the most significant of these factors are the terms of prior bulk settlements and the terms expected to result from ongoing bulk settlement discussions, which have been primarily influenced by the anticipated pro-rata realization of the claims of particular counterparties as compared to the anticipated realization if all claims and litigation were resolved together with payment of SCC's related administration and legal expense. Changes in any one of the factors mentioned above could significantly impact the estimate. | |||||||||||||
The liability is included in accounts payable, accrued expenses and other current liabilities on the consolidated balance sheets. A rollforward of SCC's accrued liability for these loss contingencies is as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Balance, beginning of the year | $ | 158,765 | $ | 130,018 | $ | 126,260 | |||||||
Provisions | 25,000 | 40,000 | 20,000 | ||||||||||
Payments | — | (11,253 | ) | (16,242 | ) | ||||||||
Balance, end of the year | $ | 183,765 | $ | 158,765 | $ | 130,018 | |||||||
SCC is taking the legal position, where appropriate, for both contractual representation and warranty claims and similar claims in litigation, that a valid representation and warranty claim cannot be made with respect to a mortgage loan that has been liquidated. There is limited and conflicting case law on this issue. These decisions are from lower courts, are inconsistent in their analysis and receptivity to this defense, and are subject to appeal. It is anticipated that the liquidated mortgage loan defense will be the subject of future judicial decisions. Until the validity of the liquidated loan defense is further clarified by the courts or other developments occur, SCC's estimated accrual for representation and warranty will not take this defense into account. | |||||||||||||
SCC believes it is reasonably possible that future representation and warranty losses may vary from amounts accrued for these exposures. SCC currently estimates that the range of reasonably possible loss could be up to approximately $16 million in excess of amounts accrued. This estimated range is based on the best information currently available, significant management judgment and a number of factors that are subject to change, including developments in case law and the factors mentioned above. The actual loss that may be incurred could differ materially from our accrual or the estimate of reasonably possible losses. | |||||||||||||
As described more fully in note 17, losses may also be incurred with respect to various indemnification claims by underwriters and depositors in securitization transactions in which SCC participated. Losses from these indemnification claims are frequently not subject to a stated term or limit. We have not concluded that a loss related to any of these indemnification claims is probable, have not accrued a liability for these claims and are not able to estimate a reasonably possible loss or range of loss for these claims. Accordingly, neither the accrued liability described above totaling $183.8 million, nor the estimated range of reasonably possible losses in excess of the amount accrued described above of up to approximately $16 million, includes any possible losses which may arise from these indemnification claims. There can be no assurances as to the outcome or impact of these indemnification claims. In the event of unfavorable outcomes on these claims, the amount required to discharge or settle them could be substantial and could have a material adverse impact on our business and our consolidated financial position, results of operations and cash flows. | |||||||||||||
If the amount that SCC is ultimately required to pay with respect to claims and litigation related to its past sales and securitizations of mortgage loans, together with payment of SCC's related administration and legal expense, exceeds SCC's net assets, the creditors of SCC, or a bankruptcy trustee if SCC were to file or be forced into bankruptcy, may attempt to assert claims against us for payment of SCC's obligations. SCC's principal assets, as of April 30, 2014, total approximately $520 million and consist primarily of an intercompany note receivable and a deferred tax asset. We believe our legal position is strong on any potential corporate veil-piercing arguments; however, if this position is challenged and not upheld, it could have a material adverse effect on our business and our consolidated financial position, results of operations and cash flows. |
Litigation_And_Related_Conting
Litigation And Related Contingencies | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Litigation And Related Contingencies [Abstract] | ' | ||||||||||||
Litigation And Related Contingencies | ' | ||||||||||||
We are a defendant in numerous litigation matters, arising both in the ordinary course of business and otherwise, including as described below. The matters described below are not all of the lawsuits to which we are subject. In some of the matters, very large or indeterminate amounts, including punitive damages, are sought. U.S. jurisdictions permit considerable variation in the assertion of monetary damages or other relief. Jurisdictions may permit claimants not to specify the monetary damages sought or may permit claimants to state only that the amount sought is sufficient to invoke the jurisdiction of the court. In addition, jurisdictions may permit plaintiffs to allege monetary damages in amounts well exceeding reasonably possible verdicts in the jurisdiction for similar matters. We believe that the monetary relief which may be specified in a lawsuit or a claim bears little relevance to its merits or disposition value due to this variability in pleadings and our experience in litigating or resolving through settlement of numerous claims over an extended period of time. | |||||||||||||
The outcome of a litigation matter and the amount or range of potential loss at particular points in time may be difficult to ascertain. Among other things, uncertainties can include how fact finders will evaluate documentary evidence and the credibility and effectiveness of witness testimony, and how trial and appellate courts will apply the law. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will themselves view the relevant evidence and applicable law. | |||||||||||||
In addition to litigation matters, we are also subject to claims and other loss contingencies arising out of our business activities, including as described below. | |||||||||||||
We accrue liabilities for litigation, claims and other loss contingencies and any related settlements (each referred to, individually, as a "matter" and, collectively, as "matters") when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Liabilities have been accrued for a number of the matters noted below. If a range of loss is estimated, and some amount within that range appears to be a better estimate than any other amount within that range, then that amount is accrued. If no amount within the range can be identified as a better estimate than any other amount, we accrue the minimum amount in the range. | |||||||||||||
For such matters where a loss is believed to be reasonably possible, but not probable, or the loss cannot be reasonably estimated, no accrual has been made. It is possible that such matters could require us to pay damages or make other expenditures or accrue liabilities in amounts that could not be reasonably estimated as of April 30, 2014. While the potential future liabilities could be material in the particular quarterly or annual periods in which they are recorded, based on information currently known, we do not believe any such liabilities are likely to have a material adverse effect on our consolidated financial position, results of operations and cash flows. As of April 30, 2014 and 2013, we accrued liabilities of $23.7 million and $11.9 million, respectively. | |||||||||||||
For some matters where a liability has not been accrued, we are able to estimate a reasonably possible loss or range of loss. This estimated range of reasonably possible loss is based upon currently available information and is subject to significant judgment and a variety of assumptions, as well as known and unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate. Those matters for which an estimate is not reasonably possible are not included within this estimated range. Therefore, this estimated range of reasonably possible loss represents what we believe to be an estimate of reasonably possible loss only for certain matters meeting these criteria. It does not represent our maximum loss exposure. For those matters, and for matters where a liability has been accrued, as of April 30, 2014, we believe the aggregate range of reasonably possible losses in excess of amounts accrued is not material. | |||||||||||||
For other matters, we are not currently able to estimate the reasonably possible loss or range of loss. We are often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the reasonably possible loss or range of loss, such as quantification of a damage demand from plaintiffs, discovery from other parties and investigation of factual allegations, rulings by courts on motions or appeals, analysis by experts, or the status of any settlement negotiations. | |||||||||||||
On a quarterly and annual basis, we review relevant information with respect to litigation and other loss contingencies and update our accruals, disclosures and estimates of reasonably possible loss or range of loss based on such reviews. Costs incurred with defending matters are expensed as incurred. Any receivable for insurance recoveries is recorded separately from the corresponding liability, and only if recovery is determined to be probable and reasonably estimable. | |||||||||||||
We believe we have meritorious defenses to the claims asserted in the various matters described in this note, and we intend to defend them vigorously, but there can be no assurances as to their outcomes. In the event of unfavorable outcomes, it could require modifications to our operations; in addition, the amounts that may be required to be paid to discharge or settle the matters could be substantial and could have a material adverse impact on our business and consolidated financial position, results of operations and cash flows. | |||||||||||||
LITIGATION, CLAIMS, INCLUDING INDEMNIFICATION CLAIMS, OR OTHER LOSS CONTINGENCIES PERTAINING TO DISCONTINUED MORTGAGE OPERATIONS – Although SCC ceased its mortgage loan origination activities in December 2007 and sold its loan servicing business in April 2008, SCC or the Company have been, remain, or may in the future be subject to litigation, claims, including indemnification claims, and other loss contingencies pertaining to SCC's mortgage business activities that occurred prior to such termination and sale. These contingencies, claims and lawsuits include actions by regulators, third parties seeking indemnification, including depositors and underwriters, individual plaintiffs, and cases in which plaintiffs seek to represent a class of others alleged to be similarly situated. Among other things, these contingencies, claims and lawsuits allege discriminatory or unfair and deceptive loan origination and servicing practices, fraud and other common law torts, rights to indemnification and violations of securities laws, the Truth in Lending Act (TILA), Equal Credit Opportunity Act and the Fair Housing Act. Given the impact of the financial crisis on the non-prime mortgage environment, the aggregate volume of these matters is substantial although it is difficult to predict either the likelihood of new matters being initiated or the outcome of existing matters. In many of these matters, including certain of the lawsuits and claims described below, it is not possible to estimate a reasonably possible loss or range of loss due to, among other things, the inherent uncertainties involved in these matters, some of which are beyond the Company's control, and the indeterminate damages sought in some of these matters. | |||||||||||||
On October 15, 2010, the Federal Home Loan Bank of Chicago (FHLB-Chicago) filed a lawsuit in the Circuit Court of Cook County, Illinois (Case No. 10CH45033) styled Federal Home Loan Bank of Chicago v. Bank of America Funding Corporation, et al. against multiple defendants, including various SCC-related entities, H&R Block, Inc. and other entities, arising out of FHLB-Chicago's purchase of residential mortgage-backed securities (RMBSs). The plaintiff seeks rescission and damages under state securities law and for common law negligent misrepresentation in connection with its purchase of two securities collateralized by loans originated and securitized by SCC. These two securities had a total initial principal amount of approximately $50 million, of which approximately $36 million remains outstanding. The plaintiff agreed to voluntarily dismiss H&R Block, Inc. from the suit. The remaining defendants, including SCC, filed motions to dismiss, which the court denied. The defendants moved for leave to appeal and the circuit court denied the motion. A portion of our loss contingency accrual is related to this matter for the amount of loss that we consider probable and reasonably estimable. | |||||||||||||
On May 31, 2012, a lawsuit was filed by Homeward in the Supreme Court of the State of New York, County of New York, against SCC styled Homeward Residential, Inc. v. Sand Canyon Corporation (Index No. 651885/2012). SCC removed the case to the United States District Court for the Southern District of New York on June 28, 2012 (Case No. 12-cv-5067). The plaintiff, in its capacity as the master servicer for Option One Mortgage Loan Trust 2006-2 and for the benefit of the trustee and the certificate holders of such trust, asserts claims for breach of contract, anticipatory breach, indemnity and declaratory judgment in connection with alleged losses incurred as a result of the breach of representations and warranties relating to loans sold to the trust and to SCC. The plaintiff seeks specific performance of alleged repurchase obligations or damages to compensate the trust and its certificate holders for alleged actual and anticipated losses, as well as a repurchase of all loans due to alleged misrepresentations by SCC as to itself and as to the loans' compliance with its underwriting standards and the value of underlying real estate. In response to a motion filed by SCC, the court dismissed the plaintiff's claims for breach of the duty to cure or repurchase, anticipatory breach, indemnity, and declaratory judgment. The case is proceeding on the remaining claims. We have not concluded that a loss related to this matter is probable, nor have we accrued a liability related to this matter. | |||||||||||||
On September 28, 2012, a second lawsuit was filed by Homeward in the District Court for the Southern District of New York against SCC styled Homeward Residential, Inc. v. Sand Canyon Corporation (Case No. 12-cv-7319). The plaintiff, in its capacity as the master servicer for Option One Mortgage Loan Trust 2006-3 and for the benefit of the trustee and the certificate holders of such trust, asserts claims for breach of contract and indemnity in connection with losses allegedly incurred as a result of the breach of representations and warranties relating to 96 loans sold to the trust. The plaintiff seeks specific performance of alleged repurchase obligations or damages to compensate the trust and its certificate holders for alleged actual and anticipated losses. In response to a motion filed by SCC, the court dismissed the plaintiff's claims for breach of the duty to cure and repurchase and for indemnification of its costs associated with the litigation. The case is proceeding on the remaining claims. We have not concluded that a loss related to this matter is probable, nor have we accrued a liability related to this matter. | |||||||||||||
On April 5, 2013, a third lawsuit was filed by Homeward in the District Court for the Southern District of New York against SCC. The suit, styled Homeward Residential, Inc. v. Sand Canyon Corporation (Case No. 13-cv-2107), was filed as a related matter to the September 2012 Homeward suit mentioned above. In this April 2013 lawsuit, the plaintiff, in its capacity as the master servicer for Option One Mortgage Loan Trust 2007-4 and for the benefit of the trustee and the certificate holders of such trust, asserts claims for breach of contract and indemnity in connection with losses allegedly incurred as a result of the breach of representations and warranties relating to 159 loans sold to the trust. The plaintiff seeks specific performance of alleged repurchase obligations or damages to compensate the trust and its certificate holders for alleged actual and anticipated losses. In response to a motion filed by SCC, the court dismissed the plaintiff’s claims for breach of the duty to cure and repurchase and for indemnification of its costs associated with the litigation. The case is proceeding on the remaining claims. We have not concluded that a loss related to this matter is probable, nor have we accrued a liability related to this matter. | |||||||||||||
Underwriters and depositors are, or have been, involved in multiple lawsuits related to securitization transactions in which SCC participated. These lawsuits allege or alleged a variety of claims, including violations of federal and state securities laws and common law fraud, based on alleged materially inaccurate or misleading disclosures. Based on information currently available to SCC, it believes that the 18 lawsuits in which SCC received notice of a claim for indemnification of losses and expenses, involved 38 securitization transactions with original investments of approximately $14 billion (of which the outstanding principal amount is approximately $4 billion). Because SCC has not been a party to these lawsuits (with the exception of the Federal Home Loan Bank of Chicago v. Bank of America Funding Corporation case discussed above) and has not had control of this litigation or any settlements thereof, SCC does not have precise information about the amount of damages or other remedies being asserted, the defenses to the claims in such lawsuits or the terms of any settlements of such lawsuits. SCC therefore cannot reasonably estimate the amount of potential losses or associated fees and expenses that may be incurred in connection with such lawsuits, which may be material. Additional lawsuits against the underwriters or depositors may be filed in the future, and SCC may receive additional notices of claims for indemnification from underwriters or depositors with respect to existing or new lawsuits or settlements of such lawsuits. Certain of the notices received included, and future notices may include, a reservation of rights that encompasses a right of contribution which may become operative if indemnification is unavailable or insufficient to cover all of the losses and expenses involved. We have not concluded that a loss related to any of these indemnification claims is probable, nor have we accrued a liability related to any of these claims. | |||||||||||||
LITIGATION, CLAIMS OR OTHER LOSS CONTINGENCIES PERTAINING TO CONTINUING OPERATIONS – | |||||||||||||
Employment-Related Claims and Litigation. On January 25, 2010, a wage and hour class action lawsuit was filed against us in the United States District Court for the Western District of Missouri styled Barbara Petroski, et al. v. H&R Block Eastern Enterprises, Inc., et al., (Case No. 10-00075-CV-W-DW). The plaintiffs generally allege failure to compensate tax professionals nationwide for training that is required to be eligible for rehire the following tax season, and seek compensatory damages, liquidated damages, statutory penalties, pre-judgment interest, attorneys' fees and costs. A conditional class was certified under the Fair Labor Standards Act in March 2011 (consisting of tax professionals nationwide who worked in company-owned offices and who were not compensated for such training on or after April 15, 2007). Two classes were also certified under state laws in California and New York (consisting of tax professionals who worked in company-owned offices in California and New York and who were not compensated for such training on or after March 4, 2006 and on or after March 4, 2004, respectively). We filed a motion to decertify the classes, along with a motion for summary judgment on all claims. On April 8, 2013, the court granted summary judgment in our favor on all claims. The plaintiffs filed an appeal. On May 1, 2014, the Eighth Circuit Court of Appeals affirmed the order of the trial court in our favor. We have not concluded that a loss related to this matter is probable, nor have we accrued a loss contingency related to this matter. | |||||||||||||
RAL and RAC Litigation. A series of putative class action lawsuits were filed against us in various federal courts beginning on November 17, 2011 concerning the refund anticipation loan (RAL) and refund anticipation check (RAC) products. The plaintiffs generally allege we engaged in unfair, deceptive or fraudulent acts in violation of various state consumer protection laws by facilitating RALs that were accompanied by allegedly inaccurate TILA disclosures, and by offering RACs without any TILA disclosures. Certain plaintiffs also allege violation of disclosure requirements of various state statutes expressly governing RALs and provisions of those statutes prohibiting tax preparers from charging or retaining certain fees. Collectively, the plaintiffs seek to represent clients who purchased RAL or RAC products in up to forty-two states and the District of Columbia during timeframes ranging from 2007 to the present. The plaintiffs seek equitable relief, disgorgement of profits, compensatory and statutory damages, restitution, civil penalties, attorneys' fees and costs. These cases were consolidated by the Judicial Panel on Multidistrict Litigation into a single proceeding in the United States District Court for the Northern District of Illinois for coordinated pretrial proceedings, styled IN RE: H&R Block Refund Anticipation Loan Litigation (MDL No. 2373/No: 1:12-CV-02973-JBG ). We filed a motion to compel arbitration, which remains pending. We have not concluded that a loss related to this matter is probable, nor have we accrued a loss contingency related to this matter. | |||||||||||||
Compliance Fee Litigation. On April 16, 2012, a putative class action lawsuit was filed against us in the Circuit Court of Jackson County, Missouri styled Manuel H. Lopez III v. H&R Block, Inc., et al. (Case # 1216CV12290) concerning a compliance fee charged to retail tax clients in the 2011 and 2012 tax seasons. The plaintiff seeks to represent all Missouri citizens who were charged the compliance fee, and asserts claims of violation of the Missouri Merchandising Practices Act, money had and received, and unjust enrichment. We filed a motion to compel arbitration of the 2011 claims. The court denied the motion. We filed an appeal. On May 6, 2014, the Missouri Court of Appeals, Western District, reversed the ruling of the trial court and remanded the case for further consideration of the motion. We have not concluded that a loss related to this matter is probable, nor have we accrued a loss contingency related to this matter. | |||||||||||||
On April 19, 2012, a putative class action lawsuit was filed against us in the United States District Court for the Western District of Missouri styled Ronald Perras v. H&R Block, Inc., et al. (Case No. 4:12-cv-00450-DGK) concerning a compliance fee charged to retail tax clients in the 2011 and 2012 tax seasons. The plaintiff seeks to represent all persons nationwide (excluding citizens of Missouri) who were charged the compliance fee, and asserts claims of violation of various state consumer laws, money had and received, and unjust enrichment. The plaintiff filed a motion for class certification in September 2013. The court subsequently granted our motion to compel arbitration of the 2011 claims and stayed all proceedings with respect to the 2011 claims. The case is continuing to proceed on the 2012 claims. We have not concluded that a loss related to this matter is probable, nor have we accrued a loss contingency related to this matter. | |||||||||||||
Form 8863 Litigation. A series of putative class action lawsuits were filed against us in various federal courts and one state court beginning on March 13, 2013. Taken together, the plaintiffs in these lawsuits purport to represent certain clients nationwide who filed Form 8863 during tax season 2013 through an H&R Block office or using H&R Block At Home® online tax services or tax preparation software, and allege breach of contract, negligence and violation of state consumer laws in connection with transmission of the form. The plaintiffs seek damages, pre-judgment interest, attorneys' fees and costs. In August 2013, the plaintiff in the state court action voluntarily dismissed her case without prejudice. On October 10, 2013, the Judicial Panel on Multidistrict Litigation granted our petition to consolidate the remaining federal lawsuits for coordinated pretrial proceedings in the United States District Court for the Western District of Missouri in a proceeding styled IN RE: H&R BLOCK IRS FORM 8863 LITIGATION (MDL No. 2474/Case No. 4:13-MD-02474-FJG). We filed a motion to compel arbitration and to strike class allegations relating to clients who agreed to arbitrate their claims, which remains pending. We have not concluded that a loss related to these lawsuits is probable, nor have we accrued a liability related to these lawsuits. | |||||||||||||
LITIGATION, CLAIMS AND OTHER LOSS CONTINGENCIES PERTAINING TO OTHER DISCONTINUED OPERATIONS – | |||||||||||||
Express IRA Litigation. On January 2, 2008, the Mississippi Attorney General in the Chancery Court of Hinds County, Mississippi First Judicial District (Case No. G 2008 6 S 2) filed a lawsuit regarding our former Express IRA product that is styled Jim Hood, Attorney for the State of Mississippi v. H&R Block, Inc., H&R Block Financial Advisors, Inc., et al. The complaint alleges fraudulent business practices, deceptive acts and practices, common law fraud and breach of fiduciary duty with respect to the sale of the product in Mississippi and seeks equitable relief, disgorgement of profits, damages and restitution, civil penalties and punitive damages. | |||||||||||||
Although we sold H&R Block Financial Advisors, Inc. (HRBFA) effective November 1, 2008, we remain responsible for any liabilities relating to the Express IRA litigation, among other things, through an indemnification agreement. A portion of our accrual is related to these indemnity obligations. | |||||||||||||
RSM McGladrey and Related Businesses. On April 17, 2009, a shareholder derivative complaint was filed by Brian Menezes, derivatively and on behalf of nominal defendant International Textile Group, Inc. against MCM and others in the Court of Common Pleas, Greenville County, South Carolina (C.A. No. 2009-CP-23-3346) styled Brian P. Menezes, Derivatively on Behalf of Nominal Defendant, International Textile Group, Inc. (f/k/a Safety Components International, Inc.) v. McGladrey Capital Markets, LLC (f/k/a RSM EquiCo Capital Markets, LLC), et al. The plaintiffs filed an amended complaint in October 2011 styled In re International Textile Group Merger Litigation, adding a putative class action claim. The plaintiffs allege claims of aiding and abetting, civil conspiracy, gross negligence and breach of fiduciary duty against MCM in connection with a fairness opinion MCM provided to the Special Committee of Safety Components International, Inc. (SCI) in 2006 regarding the merger between International Textile Group, Inc. and SCI. The plaintiffs seek actual and punitive damages, pre-judgment interest, attorneys' fees and costs. On February 8, 2012, the court dismissed the plaintiffs' civil conspiracy claim against all defendants. A class was certified on the remaining claims on November 20, 2012. The court granted summary judgment in favor of MCM on June 3, 2013 on the breach of fiduciary duty claim. To avoid the cost and inherent risk associated with litigation, the parties signed a memorandum of understanding to resolve the case, which is subject to approval by the court. The court granted preliminary approval of the settlement on February 19, 2014. A final approval hearing is set for June 26, 2014. A portion of our loss contingency accrual is related to this lawsuit for the amount of loss that we consider probable and reasonably estimable. | |||||||||||||
In connection with the sale of RSM and MCM, we indemnified the buyers against certain litigation matters. The indemnities are not subject to a stated term or limit. A portion of our accrual is related to these indemnity obligations. | |||||||||||||
OTHER – We are from time to time a party to litigation, claims and other loss contingencies not discussed herein arising out of our business operations. These matters may include actions by state attorneys general, other state regulators, federal regulators, individual plaintiffs, and cases in which plaintiffs seek to represent a class of others similarly situated. | |||||||||||||
While we cannot provide assurance that we will ultimately prevail in each instance, we believe the amount, if any, we are required to pay to discharge or settle these other matters will not have a material adverse impact on our business or our consolidated financial position, results of operations and cash flows. | |||||||||||||
We believe we have meritorious defenses to the claims asserted in the various matters described in this note, and we intend to defend them vigorously. The amounts claimed in the matters are substantial, however, and there can be no assurances as to their outcomes. In the event of unfavorable outcomes, it could require modifications to our operations; in addition, the amounts that may be required to be paid to discharge or settle the matters could be substantial and could have a material adverse impact on our consolidated financial position, results of operations and cash flows. | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Balance, beginning of the year | $ | 158,765 | $ | 130,018 | $ | 126,260 | |||||||
Provisions | 25,000 | 40,000 | 20,000 | ||||||||||
Payments | — | (11,253 | ) | (16,242 | ) | ||||||||
Balance, end of the year | $ | 183,765 | $ | 158,765 | $ | 130,018 | |||||||
Loss_Contingencies_Arising_Fro
Loss Contingencies Arising From Representations And Warranties of Our Discontinued Mortgage Operations | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Loss Contingencies Arising From Representations and Warranties of Our Discontinued Mortgage Operations | ' | ||||||||||||
We offer guarantees under our POM program to tax clients whereby we (1) represent our clients if they are audited by the IRS, and (2) assume the cost, up to a cumulative per client limit of $5,500, of additional taxes owed by a client resulting from errors attributable to H&R Block. We defer all revenues and direct costs associated with these guarantees, recognizing these amounts over the term of the guarantee based on actual claims paid in relation to projected claims. The related current asset is included in prepaid expenses and other current assets. The related liability is included in accounts payable, accrued expenses and other current liabilities in the consolidated balance sheets. The related noncurrent asset and liability are included in other assets and other noncurrent liabilities, respectively, in the consolidated balance sheets. A loss on these POM guarantees would be recognized if the sum of expected costs for services exceeded unearned revenue. Changes in the related balance of deferred revenue are as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | |||||||||||
Balance, beginning of the year | $ | 146,286 | $ | 141,080 | |||||||||
Amounts deferred for new guarantees issued | 88,636 | 76,561 | |||||||||||
Revenue recognized on previous deferrals | (89,685 | ) | (71,355 | ) | |||||||||
Balance, end of the year | $ | 145,237 | $ | 146,286 | |||||||||
We accrued $11.4 million and $18.0 million as of April 30, 2014 and 2013, respectively, related to estimated losses under our standard guarantee, which is included with our standard in-office tax preparation services. The current portion of this liability is included in accounts payable, accrued expenses and other current liabilities and the long-term portion is included in other noncurrent liabilities in the consolidated balance sheets. | |||||||||||||
We have accrued estimated contingent consideration payments totaling $9.2 million and $11.3 million as of April 30, 2014 and 2013, respectively, related to acquisitions, with the short-term amount recorded in accounts payable, accrued expenses and other current liabilities and the long-term portion included in other noncurrent liabilities. Estimates of contingent payments are typically based on expected financial performance of the acquired business and economic conditions at the time of acquisition. Should actual results differ from our assumptions, future payments made will differ from the above estimate and any differences will be recorded in results from continuing operations. | |||||||||||||
We have contractual commitments to fund certain franchises with approved revolving lines of credit. Our total obligation under these lines of credit was $90.6 million as of April 30, 2014, and net of amounts drawn and outstanding, our remaining commitment to fund totaled $45.3 million. | |||||||||||||
We are self-insured for certain risks, including, employer provided medical benefits, workers' compensation, property and casualty, professional liability and claims related to our POM program. These programs maintain various self-insured retentions. In all but our POM program in company-owned offices, commercial insurance is purchased in excess of the self-insured retentions. We accrue estimated losses for self-insured retentions using actuarial models and assumptions based on historical loss experience. | |||||||||||||
We have a deferred compensation plan that permits certain employees to defer portions of their compensation and accrue income on the deferred amounts. Included in other noncurrent liabilities is $38.1 million and $42.5 million as of April 30, 2014 and 2013, respectively, reflecting our obligation under these plans. | |||||||||||||
We maintain compensating balances with certain financial institutions that are creditors in our 2012 CLOC, which are not legally restricted as to withdrawal. These balances totaled $215.3 million as of April 30, 2014. These balances may fluctuate significantly over the course of any given fiscal year. | |||||||||||||
Substantially all of the operations of our subsidiaries are conducted in leased premises. Most of the operating leases are for periods ranging from three years to five years, with renewal options, and provide for fixed monthly rentals. Future minimum operating lease commitments as of April 30, 2014, are as follows: | |||||||||||||
(in 000s) | |||||||||||||
2015 | $ | 183,701 | |||||||||||
2016 | 119,377 | ||||||||||||
2017 | 70,447 | ||||||||||||
2018 | 33,047 | ||||||||||||
2019 | 11,892 | ||||||||||||
2020 and beyond | 5,166 | ||||||||||||
$ | 423,630 | ||||||||||||
Rent expense of continuing operations for fiscal years 2014, 2013 and 2012 totaled $203.3 million, $201.0 million and $218.3 million, respectively. | |||||||||||||
See notes 17 and 18 to the consolidated financial statements for additional discussion regarding guarantees and indemnifications. | |||||||||||||
SCC ceased originating mortgage loans in December 2007 and, in April 2008, sold its servicing assets and discontinued its remaining operations. | |||||||||||||
Mortgage loans originated by SCC were sold either as whole loans to single third-party buyers, who generally securitized such loans, or in the form of RMBSs. In connection with the sale of loans and/or RMBSs, SCC made certain representations and warranties. These representations and warranties varied based on the nature of the transaction and the buyer's or insurer's requirements, but generally pertained to the ownership of the loan, the validity of the lien securing the loan, borrower fraud, the loan's compliance with the criteria for inclusion in the transaction, including compliance with SCC's underwriting standards or loan criteria established by the buyer, ability to deliver required documentation, and compliance with applicable laws. Representations and warranties related to borrower fraud in whole loan sale transactions to institutional investors, which were generally securitized by such investors, represented approximately 68% of the disposal of loans originated in calendar years 2005, 2006 and 2007, included a "knowledge qualifier" limiting SCC's liability to those instances where SCC had knowledge of the fraud at the time the loans were sold. Representations and warranties made in other sale transactions effectively did not include a knowledge qualifier as to borrower fraud. SCC believes it would have an obligation to repurchase a loan only if it breached a representation and warranty and such breach materially and adversely affects the value of the mortgage loan or certificate holder's interest in the mortgage loan. SCC also would assert that it has no liability for the failure to repurchase any mortgage loan that has been liquidated prior to a repurchase demand, although there is limited and conflicting case law on the liquidated loan defense issue. Such claims together with any settlement arrangements related to these losses are collectively referred to as "representation and warranty claims." | |||||||||||||
Representation and warranty claims received by SCC have primarily related to alleged breaches of representations and warranties related to a loan's compliance with the underwriting standards established by SCC at origination and borrower fraud for loans originated in calendar years 2006 and 2007. SCC has received claims representing an original principal amount of $2.1 billion since May 1, 2008, of which $190 million were received in fiscal year 2013 and $1.1 billion in fiscal year 2012. SCC received new claims totaling $70.3 million during fiscal year 2014, all of which were initiated by parties with whom SCC has tolling agreements. These tolling agreements toll the running of any applicable statute of limitations related to potential lawsuits regarding representation and warranty claims and other claims against SCC. The tolling agreements are with counterparties that have made and are expected to assert a significant majority of previously denied and expected future representation and warranty claims. There were no material outstanding claims subject to review as of April 30, 2014. | |||||||||||||
SETTLEMENT ACTIONS – SCC has entered into tolling agreements with the counterparties that have initiated the majority of claims received by SCC. Beginning in the fourth quarter of fiscal year 2013 and continuing in fiscal year 2014, SCC has been engaged in discussions with these counterparties regarding the bulk settlement of previously denied and potential future claims. Based on settlement discussions with these counterparties, SCC believes a bulk settlement approach, rather than the loan-by-loan resolution process, will be needed to resolve all of the representation and warranty and other claims that are the subject of these discussions. In the event that current efforts to settle are not successful, SCC believes claim volumes may increase or litigation may result. | |||||||||||||
SCC will continue to vigorously contest any request for repurchase when it has concluded that a valid basis for repurchase does not exist. SCC's decision whether to engage in bulk settlement discussions is based on factors that vary by counterparty or type of counterparty and include the considerations used by SCC in determining its loss estimate, described below under "Liability for Estimated Contingent Losses." | |||||||||||||
LIABILITY FOR ESTIMATED CONTINGENT LOSSES – SCC accrues a liability for losses related to representation and warranty claims when those losses are believed to be both probable and reasonably estimable. Development of loss estimates is subject to a high degree of management judgment and estimates may vary significantly period to period. SCC's loss estimate as of April 30, 2014 is based on the best information currently available, significant management judgment, and a number of factors that are subject to change, including developments in case law and the factors mentioned below. These factors include the terms of prior bulk settlement, the terms expected to result from ongoing bulk settlement discussions, and an assessment of, among other things, historical claim results, threatened claims, terms and provisions of related agreements, counterparty willingness to pursue a settlement, legal standing of counterparties to provide a comprehensive settlement, the potential pro-rata realization of the claims as compared to all claims and other relevant facts and circumstances when developing its estimate of probable loss. SCC believes that the most significant of these factors are the terms of prior bulk settlements and the terms expected to result from ongoing bulk settlement discussions, which have been primarily influenced by the anticipated pro-rata realization of the claims of particular counterparties as compared to the anticipated realization if all claims and litigation were resolved together with payment of SCC's related administration and legal expense. Changes in any one of the factors mentioned above could significantly impact the estimate. | |||||||||||||
The liability is included in accounts payable, accrued expenses and other current liabilities on the consolidated balance sheets. A rollforward of SCC's accrued liability for these loss contingencies is as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Balance, beginning of the year | $ | 158,765 | $ | 130,018 | $ | 126,260 | |||||||
Provisions | 25,000 | 40,000 | 20,000 | ||||||||||
Payments | — | (11,253 | ) | (16,242 | ) | ||||||||
Balance, end of the year | $ | 183,765 | $ | 158,765 | $ | 130,018 | |||||||
SCC is taking the legal position, where appropriate, for both contractual representation and warranty claims and similar claims in litigation, that a valid representation and warranty claim cannot be made with respect to a mortgage loan that has been liquidated. There is limited and conflicting case law on this issue. These decisions are from lower courts, are inconsistent in their analysis and receptivity to this defense, and are subject to appeal. It is anticipated that the liquidated mortgage loan defense will be the subject of future judicial decisions. Until the validity of the liquidated loan defense is further clarified by the courts or other developments occur, SCC's estimated accrual for representation and warranty will not take this defense into account. | |||||||||||||
SCC believes it is reasonably possible that future representation and warranty losses may vary from amounts accrued for these exposures. SCC currently estimates that the range of reasonably possible loss could be up to approximately $16 million in excess of amounts accrued. This estimated range is based on the best information currently available, significant management judgment and a number of factors that are subject to change, including developments in case law and the factors mentioned above. The actual loss that may be incurred could differ materially from our accrual or the estimate of reasonably possible losses. | |||||||||||||
As described more fully in note 17, losses may also be incurred with respect to various indemnification claims by underwriters and depositors in securitization transactions in which SCC participated. Losses from these indemnification claims are frequently not subject to a stated term or limit. We have not concluded that a loss related to any of these indemnification claims is probable, have not accrued a liability for these claims and are not able to estimate a reasonably possible loss or range of loss for these claims. Accordingly, neither the accrued liability described above totaling $183.8 million, nor the estimated range of reasonably possible losses in excess of the amount accrued described above of up to approximately $16 million, includes any possible losses which may arise from these indemnification claims. There can be no assurances as to the outcome or impact of these indemnification claims. In the event of unfavorable outcomes on these claims, the amount required to discharge or settle them could be substantial and could have a material adverse impact on our business and our consolidated financial position, results of operations and cash flows. | |||||||||||||
If the amount that SCC is ultimately required to pay with respect to claims and litigation related to its past sales and securitizations of mortgage loans, together with payment of SCC's related administration and legal expense, exceeds SCC's net assets, the creditors of SCC, or a bankruptcy trustee if SCC were to file or be forced into bankruptcy, may attempt to assert claims against us for payment of SCC's obligations. SCC's principal assets, as of April 30, 2014, total approximately $520 million and consist primarily of an intercompany note receivable and a deferred tax asset. We believe our legal position is strong on any potential corporate veil-piercing arguments; however, if this position is challenged and not upheld, it could have a material adverse effect on our business and our consolidated financial position, results of operations and cash flows. |
Regulatory_Capital_Requirement
Regulatory Capital Requirements Of HRB Bank | 12 Months Ended | ||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||
Regulatory Capital Requirements Of HRB Bank | ' | ||||||||||||||||||||||
HRB Bank is subject to capital guidelines administered by federal banking agencies. Failure to meet minimum capital requirements can trigger certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on HRB Bank and our consolidated financial statements. All savings associations are subject to the capital adequacy guidelines and the regulatory framework for prompt corrective action. HRB Bank must meet specific capital guidelines that involve quantitative measures of HRB Bank's assets, liabilities and certain off-balance sheet items, as calculated under regulatory accounting practices. HRB Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. In July 2013, the federal banking agencies issued final rules to implement changes, which would increase capital requirements for federal savings banks, including HRB Bank. HRB Bank files its regulatory Call Report on a calendar quarter basis. | |||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require HRB Bank to maintain minimum amounts and ratios of tangible equity, total risk-based capital and Tier 1 capital, as set forth in the table below. As of April 30, 2014, HRB Bank's leverage ratio was 41.3%. | |||||||||||||||||||||||
As of March 31, 2014, our most recent Call Report filing, HRB Bank was a "well capitalized" institution under the prompt corrective action provisions of the FDIC. The five capital categories are: (1) "well capitalized" (total risk-based capital ratio of 10%, Tier 1 Risk-based capital ratio of 6% and leverage ratio of 5%); (2) "adequately capitalized;" (3) "undercapitalized;" (4) "significantly undercapitalized;" and (5) "critically undercapitalized." There have been no conditions or events since March 31, 2014 that management believes have caused a change in HRB Bank's capital category. | |||||||||||||||||||||||
The following table sets forth HRB Bank's regulatory capital requirements calculated in its Call Report, as filed with the Federal Financial Institutions Examination Council (FFIEC): | |||||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||||
Actual | Minimum | Minimum to be | |||||||||||||||||||||
Capital Requirement | Well Capitalized | ||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||
As of March 31, 2014: | |||||||||||||||||||||||
Total risk-based capital ratio (1) | $ | 563,899 | 168.5 | % | $ | 26,771 | 8 | % | $ | 33,464 | 10 | % | |||||||||||
Tier 1 risk-based capital ratio (2) | 559,572 | 167.2 | % | N/A | N/A | 20,079 | 6 | % | |||||||||||||||
Tier 1 capital ratio (leverage) (3) | 559,572 | 32.1 | % | 209,041 | 12 | % | (5) | 87,101 | 5 | % | |||||||||||||
Tangible equity ratio (4) | 559,572 | 32.1 | % | 26,130 | 1.5 | % | N/A | N/A | |||||||||||||||
As of March 31, 2013: | |||||||||||||||||||||||
Total risk-based capital ratio (1) | $ | 506,734 | 131.6 | % | $ | 30,806 | 8 | % | $ | 38,508 | 10 | % | |||||||||||
Tier 1 risk-based capital ratio (2) | 501,731 | 130.3 | % | N/A | N/A | 23,105 | 6 | % | |||||||||||||||
Tier 1 capital ratio (leverage) (3) | 501,731 | 25.5 | % | 236,315 | 12 | % | (5) | 98,464 | 5 | % | |||||||||||||
Tangible equity ratio (4) | 501,731 | 25.5 | % | 29,539 | 1.5 | % | N/A | N/A | |||||||||||||||
(1) | Total risk-based capital divided by risk-weighted assets. | ||||||||||||||||||||||
(2) | Tier 1 (core) capital less deduction for low-level recourse and residual interest divided by risk-weighted assets. | ||||||||||||||||||||||
(3) | Tier 1 (core) capital divided by adjusted total assets. | ||||||||||||||||||||||
(4) | Tangible capital divided by tangible assets. | ||||||||||||||||||||||
(5) | Effective April 5, 2012, the minimum capital requirement was changed to 4% by the OCC, although HRB Bank plans to maintain a minimum of 12.0% leverage capital at the end of each calendar quarter. | ||||||||||||||||||||||
Block Financial may make capital contributions to HRB Bank to help HRB Bank meet its capital requirements. Block Financial made no such capital contributions in fiscal year 2014 or 2013, but contributed $400.0 million during fiscal year 2012. | |||||||||||||||||||||||
A return of capital or dividend paid by HRB Bank must be approved by the OCC and the Federal Reserve. HRB Bank did not pay any dividends during fiscal year 2014 or 2013. HRB Bank received regulatory approval and subsequently paid cash dividends and returned capital of $400.0 million during fiscal year 2012. As of April 30, 2014, HRB Bank had total equity of $585.0 million. |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Information | ' | ||||||||||||
Management has determined our reportable segments identified below according to types of services offered and the manner in which operational decisions are made. Operating results of our reportable segments are all seasonal. | |||||||||||||
TAX SERVICES – Our Tax Services segment provides assisted income tax return preparation, digital DIY tax solutions and other services and products related to income tax return preparation to the general public primarily in the U.S. and its territories, Canada and Australia. We also offer retail banking services in the U.S. through HRB Bank. Major revenue sources include fees earned for tax preparation services performed at company-owned retail tax offices, royalties from franchise retail tax offices, sales of tax preparation software, fees for online tax preparation services, fees from RACs, fees related to H&R Block Prepaid Emerald MasterCard® and interest and fees from EAs. | |||||||||||||
Our international operations contributed $232.2 million, $249.0 million and $232.8 million in revenues for fiscal years 2014, 2013 and 2012, respectively. | |||||||||||||
CORPORATE AND ELIMINATIONS – Results include net interest margin and gains or losses relating to mortgage loans held for investment and residual interests in securitizations, interest expense on borrowings, other corporate expenses and eliminations of intercompany activities. | |||||||||||||
IDENTIFIABLE ASSETS – Identifiable assets are those assets, including goodwill and intangible assets, associated with a reportable segment. The remaining assets are classified as Corporate assets, which consist primarily of cash and mortgage loans held for investment. The carrying value of assets held outside the U.S. totaled $303.9 million, $472.6 million and $201.8 million as of April 30, 2014, 2013 and 2012, respectively. | |||||||||||||
Information concerning the Company's continuing operations by reportable segment is as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
REVENUES : | |||||||||||||
Tax Services | $ | 2,999,460 | $ | 2,877,967 | $ | 2,862,378 | |||||||
Corporate and eliminations | 24,835 | 27,976 | 31,393 | ||||||||||
$ | 3,024,295 | $ | 2,905,943 | $ | 2,893,771 | ||||||||
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES : | |||||||||||||
Tax Services | $ | 866,367 | $ | 821,143 | $ | 704,002 | |||||||
Corporate and eliminations | (99,251 | ) | (119,132 | ) | (127,932 | ) | |||||||
$ | 767,116 | $ | 702,011 | $ | 576,070 | ||||||||
IDENTIFIABLE ASSETS : | |||||||||||||
Tax Services | $ | 2,945,242 | $ | 3,012,525 | $ | 2,298,484 | |||||||
Corporate | 1,748,287 | 1,525,254 | 2,351,083 | ||||||||||
$ | 4,693,529 | $ | 4,537,779 | $ | 4,649,567 | ||||||||
Quarterly_Financial_Data
Quarterly Financial Data | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Quarterly Financial Data | ' | ||||||||||||||||||||
(in 000s, except per share amounts) | |||||||||||||||||||||
Fiscal Year 2014 | Apr 30, 2014 | Jan 31, 2014 | Oct 31, 2013 | Jul 31, 2013 | |||||||||||||||||
Revenues | $ | 3,024,295 | $ | 2,562,990 | $ | 199,770 | $ | 134,340 | $ | 127,195 | |||||||||||
Income (loss) from continuing operations before taxes (benefit) | $ | 767,116 | $ | 1,478,797 | $ | (347,825 | ) | $ | (179,362 | ) | $ | (184,494 | ) | ||||||||
Income taxes (benefit) | 267,019 | 549,664 | (135,074 | ) | (76,347 | ) | (71,224 | ) | |||||||||||||
Net income (loss) from continuing operations | 500,097 | 929,133 | (212,751 | ) | (103,015 | ) | (113,270 | ) | |||||||||||||
Net loss from discontinued operations | (24,940 | ) | (19,135 | ) | (1,960 | ) | (1,928 | ) | (1,917 | ) | |||||||||||
Net income (loss) | $ | 475,157 | $ | 909,998 | $ | (214,711 | ) | $ | (104,943 | ) | $ | (115,187 | ) | ||||||||
Basic earnings (loss) per share: | |||||||||||||||||||||
Continuing operations | $ | 1.82 | $ | 3.38 | $ | (0.78 | ) | $ | (0.38 | ) | $ | (0.42 | ) | ||||||||
Discontinued operations | (0.09 | ) | (0.07 | ) | — | (0.01 | ) | — | |||||||||||||
Consolidated | $ | 1.73 | $ | 3.31 | $ | (0.78 | ) | $ | (0.39 | ) | $ | (0.42 | ) | ||||||||
Diluted earnings (loss) per share: | |||||||||||||||||||||
Continuing operations | $ | 1.81 | $ | 3.36 | $ | (0.78 | ) | $ | (0.38 | ) | $ | (0.42 | ) | ||||||||
Discontinued operations | (0.09 | ) | (0.07 | ) | — | (0.01 | ) | — | |||||||||||||
Consolidated | $ | 1.72 | $ | 3.29 | $ | (0.78 | ) | $ | (0.39 | ) | $ | (0.42 | ) | ||||||||
(in 000s, except per share amounts) | |||||||||||||||||||||
Fiscal Year 2013 | Apr 30, 2013 | Jan 31, 2013 | Oct 31, 2012 | Jul 31, 2012 | |||||||||||||||||
Revenues | $ | 2,905,943 | $ | 2,200,212 | $ | 471,979 | $ | 137,263 | $ | 96,489 | |||||||||||
Income (loss) from continuing operations before taxes (benefit) | $ | 702,011 | $ | 1,129,836 | $ | (96,268 | ) | $ | (162,288 | ) | $ | (169,269 | ) | ||||||||
Income taxes (benefit) | 236,853 | 440,914 | (79,353 | ) | (61,089 | ) | (63,619 | ) | |||||||||||||
Net income (loss) from continuing operations | 465,158 | 688,922 | (16,915 | ) | (101,199 | ) | (105,650 | ) | |||||||||||||
Net loss from discontinued operations | (31,210 | ) | (24,582 | ) | (793 | ) | (4,044 | ) | (1,791 | ) | |||||||||||
Net income (loss) | $ | 433,948 | $ | 664,340 | $ | (17,708 | ) | $ | (105,243 | ) | $ | (107,441 | ) | ||||||||
Basic earnings (loss) per share: | |||||||||||||||||||||
Continuing operations | $ | 1.7 | $ | 2.53 | $ | (0.06 | ) | $ | (0.37 | ) | $ | (0.38 | ) | ||||||||
Discontinued operations | (0.11 | ) | (0.09 | ) | (0.01 | ) | (0.02 | ) | (0.01 | ) | |||||||||||
Consolidated | $ | 1.59 | $ | 2.44 | $ | (0.07 | ) | $ | (0.39 | ) | $ | (0.39 | ) | ||||||||
Diluted earnings (loss) per share: | |||||||||||||||||||||
Continuing operations | $ | 1.69 | $ | 2.51 | $ | (0.06 | ) | $ | (0.37 | ) | $ | (0.38 | ) | ||||||||
Discontinued operations | (0.11 | ) | (0.09 | ) | (0.01 | ) | (0.02 | ) | (0.01 | ) | |||||||||||
Consolidated | $ | 1.58 | $ | 2.42 | $ | (0.07 | ) | $ | (0.39 | ) | $ | (0.39 | ) | ||||||||
Because most of our clients file their tax returns during the period from February 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. Revenues and earnings for the third and fourth quarters of fiscal year 2014 were impacted by an IRS filing delay, which shifted revenues and earnings from our third quarter to our fourth quarter. | |||||||||||||||||||||
The accumulation of four quarters in fiscal years 2014 and 2013 for earnings per share may not equal the related per share amounts for the years ended April 30, 2014 and 2013 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, as well as the repurchase of shares outstanding. | |||||||||||||||||||||
Information regarding H&R Block's common stock prices and dividends for fiscal years 2014 and 2013 is as follows: | |||||||||||||||||||||
Fiscal Year | Fourth Quarter | Third Quarter | Second Quarter | First Quarter | |||||||||||||||||
Fiscal Year 2014: | |||||||||||||||||||||
Dividends paid per share | $ | 0.8 | $ | 0.2 | $ | 0.2 | $ | 0.2 | $ | 0.2 | |||||||||||
Stock price range: | |||||||||||||||||||||
High | $ | 32.42 | $ | 32.42 | $ | 30.53 | $ | 32.09 | $ | 31.75 | |||||||||||
Low | 25.98 | 26.92 | 27.13 | 25.98 | 27.24 | ||||||||||||||||
Fiscal Year 2013: | |||||||||||||||||||||
Dividends paid per share | $ | 0.8 | $ | 0.2 | $ | 0.2 | $ | 0.2 | $ | 0.2 | |||||||||||
Stock price range: | |||||||||||||||||||||
High | $ | 29.68 | $ | 29.68 | $ | 23.19 | $ | 18.04 | $ | 16.88 | |||||||||||
Low | 14.35 | 22.77 | 17.26 | 15.53 | 14.35 | ||||||||||||||||
Condensed_Consolidating_Financ
Condensed Consolidating Financial Statements | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
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 issued on October 25, 2012 and October 26, 2004, our 2012 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. | |||||||||||||||||||||
Certain amounts included in the following income statements and statements of cash flows for the years ended April 30, 2013 and 2012 and the balance sheet as of April 30, 2013 have been restated to correct errors in presentation. The income statements have been corrected to properly reflect equity earnings in subsidiaries of H&R Block, Inc. (Guarantor) in “Other income (expense), net” to include income taxes and discontinued operations which were previously shown on separate lines. The balance sheet has been corrected to properly reflect a classified balance sheet and to show the investment in Block Financial by Other Subsidiaries. The statements of cash flows have been corrected to properly reflect intercompany borrowings and payments as either investing or financing activities, as appropriate. These restatements did not have an impact on the consolidated financial statements as of April 30, 2013 or for the fiscal years ended April 30, 2013 and 2012. | |||||||||||||||||||||
CONDENSED CONSOLIDATING INCOME STATEMENTS | (in 000s) | ||||||||||||||||||||
Year ended April 30, 2014 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Total revenues | $ | — | $ | 235,075 | $ | 2,795,562 | $ | (6,342 | ) | $ | 3,024,295 | ||||||||||
Cost of revenues | — | 179,779 | 1,454,219 | (6,342 | ) | 1,627,656 | |||||||||||||||
Selling, general and administrative | — | 22,505 | 610,923 | — | 633,428 | ||||||||||||||||
Total expenses | — | 202,284 | 2,065,142 | (6,342 | ) | 2,261,084 | |||||||||||||||
Operating income | — | 32,791 | 730,420 | — | 763,211 | ||||||||||||||||
Other income (expense), net | 478,866 | 8,037 | (13,942 | ) | (469,056 | ) | 3,905 | ||||||||||||||
Income from continuing operations before taxes | 478,866 | 40,828 | 716,478 | (469,056 | ) | 767,116 | |||||||||||||||
Income taxes | 3,709 | 10,551 | 252,759 | — | 267,019 | ||||||||||||||||
Net income from continuing operations | 475,157 | 30,277 | 463,719 | (469,056 | ) | 500,097 | |||||||||||||||
Net loss from discontinued operations | — | (23,771 | ) | (1,169 | ) | — | (24,940 | ) | |||||||||||||
Net income | 475,157 | 6,506 | 462,550 | (469,056 | ) | 475,157 | |||||||||||||||
Other comprehensive loss | (5,373 | ) | (2,012 | ) | (5,373 | ) | 7,385 | (5,373 | ) | ||||||||||||
Comprehensive income | $ | 469,784 | $ | 4,494 | $ | 457,177 | $ | (461,671 | ) | $ | 469,784 | ||||||||||
Year ended April 30, 2013 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Total revenues | $ | — | $ | 230,982 | $ | 2,681,987 | $ | (7,026 | ) | $ | 2,905,943 | ||||||||||
Cost of revenues | — | 193,400 | 1,417,824 | (6,436 | ) | 1,604,788 | |||||||||||||||
Selling, general and administrative | — | 42,530 | 562,529 | (590 | ) | 604,469 | |||||||||||||||
Total expenses | — | 235,930 | 1,980,353 | (7,026 | ) | 2,209,257 | |||||||||||||||
Operating income (loss) | — | (4,948 | ) | 701,634 | — | 696,686 | |||||||||||||||
Other income (expense), net (1) | 433,948 | (1,164 | ) | 6,489 | (433,948 | ) | 5,325 | ||||||||||||||
Income (loss) from continuing operations before taxes (benefit) | 433,948 | (6,112 | ) | 708,123 | (433,948 | ) | 702,011 | ||||||||||||||
Income taxes (benefit) (1) | — | (29,221 | ) | 266,074 | — | 236,853 | |||||||||||||||
Net income from continuing operations | 433,948 | 23,109 | 442,049 | (433,948 | ) | 465,158 | |||||||||||||||
Net income (loss) from discontinued operations (1) | — | (31,954 | ) | 744 | — | (31,210 | ) | ||||||||||||||
Net income (loss) | 433,948 | (8,845 | ) | 442,793 | (433,948 | ) | 433,948 | ||||||||||||||
Other comprehensive income (loss) | (1,595 | ) | 189 | (1,784 | ) | 1,595 | (1,595 | ) | |||||||||||||
Comprehensive income (loss) | $ | 432,353 | $ | (8,656 | ) | $ | 441,009 | $ | (432,353 | ) | $ | 432,353 | |||||||||
(1) | Amounts have been restated, including the presentation of equity in earnings of subsidiaries net of income taxes and discontinued operations. | ||||||||||||||||||||
Year ended April 30, 2012 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Total revenues | $ | — | $ | 234,925 | $ | 2,666,267 | $ | (7,421 | ) | $ | 2,893,771 | ||||||||||
Cost of revenues | — | 221,988 | 1,487,128 | (7,421 | ) | 1,701,695 | |||||||||||||||
Impairment of goodwill | — | — | 7,409 | — | 7,409 | ||||||||||||||||
Selling, general and administrative | — | 24,730 | 593,645 | — | 618,375 | ||||||||||||||||
Total expenses | — | 246,718 | 2,088,182 | (7,421 | ) | 2,327,479 | |||||||||||||||
Operating income (loss) | — | (11,793 | ) | 578,085 | — | 566,292 | |||||||||||||||
Other income, net (1) | 265,932 | 8,686 | 1,092 | (265,932 | ) | 9,778 | |||||||||||||||
Income (loss) from continuing operations before taxes (benefit) | 265,932 | (3,107 | ) | 579,177 | (265,932 | ) | 576,070 | ||||||||||||||
Income taxes (benefit) (1) | — | (1,191 | ) | 231,293 | — | 230,102 | |||||||||||||||
Net income (loss) from continuing operations | 265,932 | (1,916 | ) | 347,884 | (265,932 | ) | 345,968 | ||||||||||||||
Net loss from discontinued operations (1) | — | (40,172 | ) | (39,864 | ) | — | (80,036 | ) | |||||||||||||
Net income (loss) | 265,932 | (42,088 | ) | 308,020 | (265,932 | ) | 265,932 | ||||||||||||||
Other comprehensive income (loss) | 912 | 3,085 | (2,173 | ) | (912 | ) | 912 | ||||||||||||||
Comprehensive income (loss) | $ | 266,844 | $ | (39,003 | ) | $ | 305,847 | $ | (266,844 | ) | $ | 266,844 | |||||||||
(1) | Amounts have been restated, including the presentation of equity in earnings of subsidiaries net of income taxes and discontinued operations. | ||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | (in 000s) | ||||||||||||||||||||
As of April 30, 2014 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Cash & cash equivalents | $ | — | $ | 612,376 | $ | 1,574,031 | $ | (1,100 | ) | $ | 2,185,307 | ||||||||||
Cash & cash equivalents - restricted | — | 67,463 | 47,856 | — | 115,319 | ||||||||||||||||
Receivables, net | — | 89,975 | 101,643 | — | 191,618 | ||||||||||||||||
Prepaid expenses and other current assets | — | 10,202 | 188,065 | — | 198,267 | ||||||||||||||||
Investments in available-for-sale securities | — | 423,495 | — | — | 423,495 | ||||||||||||||||
Total current assets | — | 1,203,511 | 1,911,595 | (1,100 | ) | 3,114,006 | |||||||||||||||
Mortgage loans held for investment, net | — | 268,428 | — | — | 268,428 | ||||||||||||||||
Investments in available-for-sale securities | — | — | 4,329 | — | 4,329 | ||||||||||||||||
Property and equipment, net | — | 121 | 304,790 | — | 304,911 | ||||||||||||||||
Intangible assets, net | — | — | 355,622 | — | 355,622 | ||||||||||||||||
Goodwill | — | — | 436,117 | — | 436,117 | ||||||||||||||||
Investments in subsidiaries | 904,331 | — | 60,902 | (965,233 | ) | — | |||||||||||||||
Amounts due from affiliates | 642,101 | 386,818 | 397 | (1,029,316 | ) | — | |||||||||||||||
Other assets | 11,271 | 173,168 | 25,677 | — | 210,116 | ||||||||||||||||
Total assets | $ | 1,557,703 | $ | 2,032,046 | $ | 3,099,429 | $ | (1,995,649 | ) | $ | 4,693,529 | ||||||||||
Customer banking deposits | $ | — | $ | 770,885 | $ | — | $ | (1,100 | ) | $ | 769,785 | ||||||||||
Accounts payable, accrued expenses and other current liabilities | 757 | 223,677 | 344,573 | — | 569,007 | ||||||||||||||||
Accrued salaries, wages and payroll taxes | — | 2,190 | 164,842 | — | 167,032 | ||||||||||||||||
Accrued income taxes | — | 71,132 | 335,523 | — | 406,655 | ||||||||||||||||
Current portion of long-term debt | — | 399,882 | 755 | — | 400,637 | ||||||||||||||||
Total current liabilities | 757 | 1,467,766 | 845,693 | (1,100 | ) | 2,313,116 | |||||||||||||||
Long-term debt | — | 497,612 | 8,225 | — | 505,837 | ||||||||||||||||
Other noncurrent liabilities | — | 5,766 | 312,261 | — | 318,027 | ||||||||||||||||
Amounts due to affiliates | 397 | — | 1,028,919 | (1,029,316 | ) | — | |||||||||||||||
Total liabilities | 1,154 | 1,971,144 | 2,195,098 | (1,030,416 | ) | 3,136,980 | |||||||||||||||
Stockholders' equity | 1,556,549 | 60,902 | 904,331 | (965,233 | ) | 1,556,549 | |||||||||||||||
Total liabilities and stockholders' equity | $ | 1,557,703 | $ | 2,032,046 | $ | 3,099,429 | $ | (1,995,649 | ) | $ | 4,693,529 | ||||||||||
As of April 30, 2013 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Cash & cash equivalents | $ | — | $ | 558,110 | $ | 1,192,197 | $ | (2,723 | ) | $ | 1,747,584 | ||||||||||
Cash & cash equivalents - restricted | — | 75,096 | 42,741 | — | 117,837 | ||||||||||||||||
Receivables, net | 769 | 99,844 | 106,222 | — | 206,835 | ||||||||||||||||
Prepaid expenses and other current assets | — | 17,915 | 372,172 | — | 390,087 | ||||||||||||||||
Total current assets | 769 | 750,965 | 1,713,332 | (2,723 | ) | 2,462,343 | |||||||||||||||
Mortgage loans held for investment, net | — | 338,789 | — | — | 338,789 | ||||||||||||||||
Investments in available-for-sale securities | — | 482,378 | 4,498 | — | 486,876 | ||||||||||||||||
Property and equipment, net | — | 877 | 267,003 | — | 267,880 | ||||||||||||||||
Intangible assets, net | — | — | 284,439 | — | 284,439 | ||||||||||||||||
Goodwill | — | — | 434,782 | — | 434,782 | ||||||||||||||||
Investments in subsidiaries (1) | 3,444,442 | — | 46,041 | (3,490,483 | ) | — | |||||||||||||||
Amounts due from affiliates | — | 410,590 | 2,189,625 | (2,600,215 | ) | — | |||||||||||||||
Other assets | 8,390 | 144,469 | 109,811 | — | 262,670 | ||||||||||||||||
Total assets | $ | 3,453,601 | $ | 2,128,068 | $ | 5,049,531 | $ | (6,093,421 | ) | $ | 4,537,779 | ||||||||||
Customer banking deposits | $ | — | $ | 939,187 | $ | — | $ | (2,723 | ) | $ | 936,464 | ||||||||||
Accounts payable, accrued expenses and other current liabilities | 429 | 191,133 | 332,359 | — | 523,921 | ||||||||||||||||
Accrued salaries, wages and payroll taxes | — | 1,225 | 133,745 | — | 134,970 | ||||||||||||||||
Accrued income taxes | — | 36,545 | 379,583 | — | 416,128 | ||||||||||||||||
Current portion of long-term debt | — | — | 722 | — | 722 | ||||||||||||||||
Total current liabilities | 429 | 1,168,090 | 846,409 | (2,723 | ) | 2,012,205 | |||||||||||||||
Long-term debt | — | 896,978 | 8,980 | — | 905,958 | ||||||||||||||||
Other noncurrent liabilities | — | 16,959 | 339,110 | — | 356,069 | ||||||||||||||||
Amounts due to affiliates | 2,189,625 | — | 410,590 | (2,600,215 | ) | — | |||||||||||||||
Total liabilities | 2,190,054 | 2,082,027 | 1,605,089 | (2,602,938 | ) | 3,274,232 | |||||||||||||||
Stockholders' equity (1) | 1,263,547 | 46,041 | 3,444,442 | (3,490,483 | ) | 1,263,547 | |||||||||||||||
Total liabilities and stockholders' equity | $ | 3,453,601 | $ | 2,128,068 | $ | 5,049,531 | $ | (6,093,421 | ) | $ | 4,537,779 | ||||||||||
Year ended April 30, 2013 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | 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. | ||||||||||||||||||||
Year ended April 30, 2012 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Net cash provided by operating activities: | $ | 33,046 | $ | 15,144 | $ | 313,859 | $ | — | $ | 362,049 | |||||||||||
Cash flows from investing: | |||||||||||||||||||||
Purchases of AFS securities | — | (256,173 | ) | — | — | (256,173 | ) | ||||||||||||||
Maturities and payments received on AFS securities | — | 63,291 | 3,091 | — | 66,382 | ||||||||||||||||
Mortgage loans held for investment, net | — | 49,142 | — | — | 49,142 | ||||||||||||||||
Capital expenditures | — | (153 | ) | (82,304 | ) | — | (82,457 | ) | |||||||||||||
Payments for business acquisitions, net | — | — | (15,258 | ) | — | (15,258 | ) | ||||||||||||||
Proceeds from sales of businesses, net | — | — | 560,499 | — | 560,499 | ||||||||||||||||
Franchise loans funded | — | (46,246 | ) | — | — | (46,246 | ) | ||||||||||||||
Payments received on franchise loans | — | 56,591 | — | — | 56,591 | ||||||||||||||||
Intercompany borrowings (payments) (1) | — | 55,721 | (344,000 | ) | 288,279 | — | |||||||||||||||
Other, net | — | 11,785 | 7,602 | — | 19,387 | ||||||||||||||||
Net cash provided by (used in) investing activities | — | (66,042 | ) | 129,630 | 288,279 | 351,867 | |||||||||||||||
Cash flows from financing: | |||||||||||||||||||||
Repayments of short-term borrowings | — | (664,167 | ) | — | — | (664,167 | ) | ||||||||||||||
Proceeds from short-term borrowings | — | 664,167 | — | — | 664,167 | ||||||||||||||||
Repayments of FHLB borrowings | — | (25,000 | ) | — | — | (25,000 | ) | ||||||||||||||
Customer banking deposits, net | — | (25,298 | ) | — | (793 | ) | (26,091 | ) | |||||||||||||
Dividends paid | (208,801 | ) | — | — | — | (208,801 | ) | ||||||||||||||
Repurchase of common stock | (180,592 | ) | — | — | — | (180,592 | ) | ||||||||||||||
Proceeds from exercise of stock options | 12,275 | — | — | — | 12,275 | ||||||||||||||||
Intercompany borrowings (payments) (1) | 344,000 | — | (55,721 | ) | (288,279 | ) | — | ||||||||||||||
Other, net | 72 | 105 | (17,030 | ) | — | (16,853 | ) | ||||||||||||||
Net cash provided by (used in) financing activities | (33,046 | ) | (50,193 | ) | (72,751 | ) | (289,072 | ) | (445,062 | ) | |||||||||||
Effects of exchange rate changes on cash | — | — | (2,364 | ) | — | (2,364 | ) | ||||||||||||||
Net increase (decrease) in cash | — | (101,091 | ) | 368,374 | (793 | ) | 266,490 | ||||||||||||||
Cash - beginning of the year | — | 616,238 | 1,061,656 | (50 | ) | 1,677,844 | |||||||||||||||
Cash - end of the year | $ | — | $ | 515,147 | $ | 1,430,030 | $ | (843 | ) | $ | 1,944,334 | ||||||||||
-1 | Amounts have been restated, including the presentation of intercompany borrowings (payments) as either investing or financing activities. |
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended | |
Apr. 30, 2014 | ||
Summary Of Significant Accounting Policies [Abstract] | ' | |
Nature Of Operations | ' | |
NATURE OF OPERATIONS – Our operating subsidiaries | ||
Principles Of Consolidation | ' | |
PRINCIPLES OF CONSOLIDATION – The consolidated financial statements include the accounts of the Company and our 100% owned subsidiaries. Intercompany transactions and balances have been eliminated. | ||
Some of our subsidiaries operate in regulated industries and their underlying accounting records reflect the policies and requirements of these industries. | ||
Discontinued Operations | ' | |
DISCONTINUED OPERATIONS – In fiscal year 2012, we sold RSM McGladrey, Inc. (RSM) and McGladrey Capital Markets LLC (MCM). All periods presented in the consolidated statements of income reflect the results of these operations as discontinued operations. Our results of discontinued operations in fiscal year 2012 include revenues of $417.2 million from RSM and related businesses and a net loss on the sale of RSM and MCM of $48.1 million. | ||
Our discontinued operations also include the results of operations of Sand Canyon Corporation, previously known as Option One Mortgage Corporation (including its subsidiaries, collectively, SCC), which exited its mortgage business in fiscal year 2008. See notes 17 and 18 additional information on litigation, claims and other loss contingencies related to our discontinued operations. | ||
Management Estimates | ' | |
MANAGEMENT ESTIMATES – The preparation of financial statements in conformity with accounting principles generally accepted in the U. S. (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates, assumptions and judgments are applied in the evaluation of contingent losses arising from our discontinued mortgage business, contingent losses associated with pending claims and litigation, valuation allowances on deferred tax assets, reserves for uncertain tax positions and related matters. Estimates have been prepared based on the best information available as of each balance sheet date. As such, actual results could differ materially from those estimates. | ||
Cash And Cash Equivalents | ' | |
CASH AND CASH EQUIVALENTS – All non-restricted highly liquid instruments purchased with an original maturity of three months or less are considered to be cash equivalents. | ||
Cash And Cash Equivalents - Restricted | ' | |
CASH AND CASH EQUIVALENTS – RESTRICTED – Cash and cash equivalents – restricted consists primarily of cash held by HRB Bank required for regulatory compliance and cash held by our captive insurance subsidiary that is expected to be used to pay claims. | ||
Receivables And Related Allowances | ' | |
RECEIVABLES AND RELATED ALLOWANCES – Our trade receivables consist primarily of accounts receivable from tax clients for tax return preparation. The allowance for doubtful accounts for these receivables requires management's judgment regarding collectibility and current economic conditions to establish an amount considered by management to be adequate to cover estimated losses as of the balance sheet date. Receivables from tax clients for tax return preparation are not specifically identified and charged off; instead they are evaluated on a pooled basis. At the end of each tax season the outstanding balances on these receivables are evaluated based on collections received and expected collections over subsequent tax seasons. | ||
Our financing receivables consist primarily of mortgage loans held for investment, H&R Block Emerald Advance® lines of Credit (EAs), loans made to franchisees, and amounts due under our refund discount program in Canada (Cash Back®). | ||
H&R Block Emerald Advance® lines of credit. EAs are typically offered to clients in our offices from late November through mid-January, currently in an amount not to exceed $1,000. If the borrower meets certain criteria as agreed in the loan terms, the line of credit can be increased and utilized year-round. These lines of credit are offered by HRB Bank. EA balances require an annual paydown on February 15th, and any amounts unpaid are placed on non-accrual status as of March 1st. Payments on past due amounts are applied to principal. | ||
These receivables are not specifically identified; instead we review the credit quality of these receivables on a pooled basis, segregated by the year of origination. We determine our allowance for these receivables based on a review of receipts taking into consideration historical experience. Bad debt rates also consider whether the loan was made to a new or repeat client. At the end of each tax season, the outstanding balances on the past-due receivables are evaluated based on collections received and expected collections over subsequent tax seasons. We charge-off receivables to an amount we believe represents the net realizable value. | ||
Loans made to franchisees. The credit quality of these receivables is assessed at an individual franchisee level, taking into account the franchisee's credit score, the franchisee's payment history on existing loans and operational amounts due to us, the loan-to-value ratio and debt-to-income ratio. Credit scores, loan-to-value and debt-to-income ratios are obtained at the time of underwriting. Payment history is monitored on a regular basis. Based upon our internal analysis and underwriting activities, we believe all loans to franchisees are of similar credit quality. Loans are evaluated for collectibility when they become delinquent. Amounts deemed to be uncollectible are written off to bad debt expense and bad debt related to these loans has typically been immaterial. Additionally, the franchise territory serves as collateral for the loan. In the event the franchisee is unable to repay the loan, we revoke franchise rights, write off the remaining balance of the loan and refranchise the territory or begin operating it as company-owned. | ||
Cash Back® receivables. During the tax season, our Canadian operations advance refunds due to certain clients from the Canada Revenue Agency (CRA), in exchange for a fee. The total fee we charge for this service is mandated by legislation which is administered by the CRA. Interest is not charged on these balances, in accordance with CRA regulations. The client assigns to us the full amount of the tax refund to be issued by the CRA and the refund is then sent by the CRA directly to us. The amount we advance to clients under this program is the amount of their estimated refund, less our fees, any amounts expected to be withheld by the CRA for amounts the client may owe to government authorities and any amounts owed to us from prior years. The CRA's system for tracking amounts due to various government agencies also indicates if the client has already filed a return, does not exist in the CRA's records, or is bankrupt. This serves to greatly reduce the amounts of uncollectible receivables and the risk of fraudulent returns. | ||
We do not specifically identify these receivables; instead we determine our allowance for these receivables based on a review of receipts taking into consideration historical experience. In September of each fiscal year, any balances remaining from the previous tax season are charged-off against the related allowance. | ||
Mortgage Loans Held For Investment | ' | |
MORTGAGE LOANS HELD FOR INVESTMENT – Mortgage loans held for investment represent loans originated or acquired with the ability and current intent to hold to maturity. Loans held for investment are carried at amortized cost adjusted for charge-offs, net of allowance for loan losses, deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. | ||
We record an allowance representing our estimate of credit losses inherent in the loan portfolio at the balance sheet date. A current assessment of the value of the loan's underlying collateral is made when the loan is no later than 60 days past due and any loan balance in excess of the collateral value less costs to sell the property, is included in the provision for credit losses. | ||
We evaluate mortgage loans less than 60 days past due on a pooled basis and record a loan loss allowance for those loans in the aggregate. We stratify these loans based on our view of risk associated with various elements of the pool and assign estimated loss rates based on those risks. Loss rates consider both the rate at which loans will become delinquent (frequency) and the amount of loss that will ultimately be realized upon occurrence of a liquidation of collateral (severity), and are primarily based on historical experience and our assessment of economic and market conditions. | ||
Loans are considered impaired when we believe it is probable we will be unable to collect all principal and interest due according to the contractual terms of the loan, or when the loan is 60 days past due. Impaired loans are reviewed individually and loss estimates are based on the fair value of the underlying collateral. For loans over 60 days but less than 180 days past due we record a loan loss allowance. For loans 180 days or more past due we charge-off the loan to the value of the collateral less costs to sell. | ||
We classify loans as non-accrual when full and timely collection of interest or principal becomes uncertain, or when they are 90 days past due. Interest previously accrued, but not collected, is reversed against current interest income when a loan is placed on non-accrual status. Accretion of deferred fees is discontinued for non-accrual loans. Payments received on non-accrual loans are recognized as interest income when the loan is considered collectible and applied to principal when it is doubtful that all contractual payments will be collected. Loans are not placed back on accrual status until collection of principal and interest is reasonably assured as a result of the borrower bringing the loan into compliance with the contractual terms of the loan. Prior to restoring a loan to accrual status, management considers a borrower's prospects for continuing future contractual payments. | ||
From time to time, as part of our loss mitigation process, we may agree to modify the contractual terms of a borrower's loan. We have developed loan modification programs designed to help borrowers refinance adjustable-rate mortgage loans prior to rate reset or who may otherwise have difficulty making their payments. In cases where we modify a loan and in so doing grant a concession to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (TDR). We may consider the borrower's payment status and history, the borrower's ability to pay upon a rate reset on an adjustable-rate mortgage, the size of the payment increase upon a rate reset, the period of time remaining prior to the rate reset, and other relevant factors in determining whether a borrower is experiencing financial difficulty. A borrower who is current may be deemed to be experiencing financial difficulty in instances where the evidence suggests an inability to pay based on the original terms of the loan after the interest rate reset and that, in the absence of a modification, may default on the loan. We evaluate whether the modification represents a concession we would not otherwise consider, such as a lower interest rate than what a new borrower of similar credit risk would be offered. A loan modified in a TDR, including a loan that was current at the time of modification, is placed on non-accrual status until we determine future collection of principal and interest is reasonably assured, which generally requires the borrower to demonstrate a period of performance according to the restructured terms. At the time of the modification, we record impairment for TDR loans equal to the difference between the principal balance of the loan and the present value of expected future cash flows discounted at the loan's effective interest rate. However, if we later assess that foreclosure of a modified loan is probable, we record an impairment based on the estimated fair value (typically appraised value less costs to sell) of the underlying collateral. | ||
Investments | ' | |
INVESTMENTS – Our investments in marketable securities are classified as available-for-sale (AFS) and are reported at fair value. Unrealized gains and losses are calculated using the specific identification method and reported, net of applicable taxes, as a component of accumulated other comprehensive income. Realized gains and losses on the sale of these securities are determined using the specific identification method. | ||
We monitor our AFS investment portfolio for impairment and consider many factors in determining whether the impairment is deemed to be other-than-temporary. These factors include, but are not limited to, the length of time the security has had a market value less than the cost basis, the severity of loss, our intent to sell (including regulatory or contractual requirements to sell), recent events specific to the issuer or industry, external credit ratings and recent downgrades in such ratings. | ||
For investments in mortgage-backed securities, amortization of premiums and accretion of discounts are recognized in interest income using the interest method, adjusted for anticipated prepayments where applicable. We update our estimates of expected cash flows periodically and recognize changes in calculated effective yields as appropriate. | ||
Property And Equipment | ' | |
PROPERTY AND EQUIPMENT – Buildings and equipment are initially recorded at cost and are depreciated over the estimated useful life of the assets using the straight-line method. Leasehold improvements are initially recorded at cost and are amortized over the lesser of the remaining term of the respective lease or the estimated useful life, using the straight-line method. Estimated useful lives are 15 to 40 years for buildings, three to five years for computers and other equipment, three years for purchased software and up to eight years for leasehold improvements. | ||
Substantially all of the operations of our subsidiaries are conducted in leased premises. For all lease agreements, including those with escalating rent payments or rent holidays, we recognize rent expense on a straight-line basis. | ||
Intangible Assets And Goodwill | ' | |
GOODWILL AND INTANGIBLE ASSETS – Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not amortized, but rather is tested for impairment annually, or more frequently if indications of potential impairment exist. | ||
Impairment testing compares the carrying amount of the reporting unit, including goodwill, with its fair value. Fair value is estimated based on discounted cash flows and comparable market information. If the carrying amount of the reporting unit exceeds its fair value, an impairment charge may be indicated. | ||
Intangible assets with finite lives are amortized over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. The weighted-average life of intangible assets with finite lives is 24 years. Intangible assets are typically amortized over the estimated useful life of the assets using the straight-line method. An impairment loss would be indicated when estimated undiscounted future cash flows from the use of the asset are less than its carrying amount. An impairment loss would be measured as the difference between the fair value (based on discounted future cash flows) and the carrying amount of the asset. | ||
We capitalize certain allowable costs associated with software developed for internal use. These costs are typically amortized over three to five years using the straight-line method. | ||
Treasury Shares | ' | |
TREASURY SHARES – We record shares of common stock repurchased by us as treasury shares, at cost, resulting in a reduction of stockholders' equity. Periodically, we may retire shares held in treasury as determined by our Board of Directors. We reissue treasury shares as part of our stock-based compensation programs or for acquisitions. When shares are reissued, we determine the cost using the average cost method. | ||
Revenue Recognition | ' | |
REVENUE RECOGNITION – Service revenues consist primarily of fees for preparation and filing of tax returns, both in offices and through our online programs, fees associated with our Peace of Mind® (POM) guarantee program and interchange income associated with our H&R Block Prepaid Emerald MasterCard® program. Service revenues are recognized in the period in which the service is performed as follows: | ||
▪ | Assisted and online tax preparation revenues are recorded when a completed return is electronically filed or accepted by the customer. | |
▪ | POM revenues are deferred and recognized over the term of the guarantee, based on actual claims paid in relation to projected claims. | |
▪ | Revenues associated with our H&R Block Prepaid Emerald MasterCard® program consist of interchange income from the use of debit cards and fees from the use of ATM networks. Interchange income is a fee paid by a merchant bank to the card-issuing bank through the interchange network, and is recognized based on cardholder transactions. | |
Royalty, product and other revenues include royalties from franchisees and sales of software products, and are recognized as follows: | ||
▪ | Upon granting of a franchise, franchisees pay a refundable deposit generally in the amount of $2,500, but pay no initial franchise fee. We record the payment as a deposit liability and recognize no revenue in connection with the initial granting of a franchise. Franchise royalties, which are based on contractual percentages of franchise revenues, are recorded in the period in which the franchise provides the service. | |
▪ | Revenue from the sale of software is recognized when the product is sold to the end user. Rebates, slotting fees and other incentives paid in connection with these sales are recorded as a reduction of revenue. | |
Interest income consists primarily of interest earned on EAs and mortgage loans held for investment and is recognized as follows: | ||
▪ | Interest income on EAs and loans to franchisees is calculated using the average daily balance method and is recognized based on the principal amount outstanding until the outstanding balance is paid or becomes delinquent. | |
▪ | Interest income on mortgage loans held for investment includes deferred origination fees and costs and purchase discounts and premiums, which are amortized to income over the life of the loan using the interest method. | |
▪ | Loan commitment fees, net of related expenses, are initially deferred and recognized as revenue over the commitment period. | |
Sales tax we collect and remit to taxing authorities is recorded net in the consolidated statements of income and is included in other cost of revenues. | ||
Advertising Expense | ' | |
ADVERTISING EXPENSE – Advertising costs for radio and television ads are expensed the first time the advertisement takes place, with print and mailing advertising expensed as incurred. | ||
Employee Benefit Plans | ' | |
EMPLOYEE BENEFIT PLANS – We have a 401(k) defined contribution plan covering eligible full-time and seasonal employees following the completion of an eligibility period. Contributions to this plan are discretionary and totaled $11.8 million, $11.3 million and $12.8 million for continuing operations in fiscal years 2014, 2013 and 2012, respectively. | ||
We have severance plans covering executives and eligible regular full-time or part-time active employees of a participating employer who incur a qualifying termination. Expenses related to severance benefits of continuing operations totaled $5.2 million, $4.8 million and $32.5 million in fiscal years 2014, 2013 and 2012, respectively. | ||
Foreign Currency Translation | ' | |
FOREIGN CURRENCY TRANSLATION – Our international subsidiaries generally consider their local currency to be their functional currency. Revenues and expenses of our foreign operations are translated at the average exchange rates in effect during the fiscal year. Assets and liabilities of foreign subsidiaries are translated into U.S. dollars at exchange rates prevailing at the end of the year and the differences from historical exchange rates are reflected as a separate component of other comprehensive income in stockholders' equity. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Computations Of Basic And Diluted Earnings Per Share | ' | ||||||||||||
The computations of basic and diluted earnings per share from continuing operations are as follows: | |||||||||||||
(in 000s, except per share amounts) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Net income from continuing operations attributable to shareholders | $ | 500,097 | $ | 465,158 | $ | 345,968 | |||||||
Amounts allocated to participating securities | (692 | ) | (542 | ) | (455 | ) | |||||||
Net income from continuing operations attributable to common shareholders | $ | 499,405 | $ | 464,616 | $ | 345,513 | |||||||
Basic weighted average common shares | 273,830 | 273,057 | 297,863 | ||||||||||
Potential dilutive shares | 2,197 | 1,302 | 738 | ||||||||||
Dilutive weighted average common shares | 276,027 | 274,359 | 298,601 | ||||||||||
Earnings per share from continuing operations attributable to common shareholders: | |||||||||||||
Basic | $ | 1.82 | $ | 1.7 | $ | 1.16 | |||||||
Diluted | 1.81 | 1.69 | 1.16 | ||||||||||
Receivables_Tables
Receivables (Tables) | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable, Unclassified [Abstract] | ' | ||||||||||||||||||||
Schedule Of Short-Term Receivables | ' | ||||||||||||||||||||
Short-term receivables consist of the following: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||
Loans to franchisees | $ | 63,716 | $ | 65,413 | |||||||||||||||||
Receivables for tax preparation and related fees | 45,619 | 49,356 | |||||||||||||||||||
Cash Back® receivables | 48,812 | 47,658 | |||||||||||||||||||
Emerald Advance lines of credit | 20,577 | 23,218 | |||||||||||||||||||
Royalties from franchisees | 9,978 | 10,722 | |||||||||||||||||||
Other | 55,494 | 60,867 | |||||||||||||||||||
244,196 | 257,234 | ||||||||||||||||||||
Allowance for doubtful accounts | (52,578 | ) | (50,399 | ) | |||||||||||||||||
$ | 191,618 | $ | 206,835 | ||||||||||||||||||
Schedule Of Loans Receivable | ' | ||||||||||||||||||||
The short-term portion of EAs, loans made to franchisees and Cash Back® balances is included in receivables, while the long-term portion is included in other assets in the consolidated balance sheets. These amounts are as follows: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
EAs | Loans | Cash Back® | |||||||||||||||||||
to Franchisees | |||||||||||||||||||||
As of April 30, 2014: | |||||||||||||||||||||
Short-term | $ | 20,577 | $ | 63,716 | $ | 48,812 | |||||||||||||||
Long-term | 3,862 | 90,747 | — | ||||||||||||||||||
$ | 24,439 | $ | 154,463 | $ | 48,812 | ||||||||||||||||
As of April 30, 2013: | |||||||||||||||||||||
Short-term | $ | 23,218 | $ | 65,413 | $ | 47,658 | |||||||||||||||
Long-term | 9,819 | 103,047 | — | ||||||||||||||||||
$ | 33,037 | $ | 168,460 | $ | 47,658 | ||||||||||||||||
Schedule Of Receivables Based On Year Of Origination | ' | ||||||||||||||||||||
These amounts as of April 30, 2014, by year of origination, are as follows: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
Credit Quality Indicator – Year of origination: | |||||||||||||||||||||
2014 | $ | 6,065 | |||||||||||||||||||
2013 | 1,890 | ||||||||||||||||||||
2012 and prior | 4,677 | ||||||||||||||||||||
Revolving loans | 11,807 | ||||||||||||||||||||
$ | 24,439 | ||||||||||||||||||||
Schedule Of Activity In The Allowance For Doubtful Accounts | ' | ||||||||||||||||||||
Activity in the allowance for doubtful accounts for our short-term and long-term receivables is as follows: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
EAs | Loans | Cash Back® | All Other | Total | |||||||||||||||||
to Franchisees | |||||||||||||||||||||
Balance as of May 1, 2011 | $ | 4,400 | $ | — | $ | 3,892 | $ | 39,651 | $ | 47,943 | |||||||||||
Provision | 28,057 | — | 1,631 | 36,974 | 66,662 | ||||||||||||||||
Charge-offs | (26,257 | ) | — | (3,244 | ) | (40,515 | ) | (70,016 | ) | ||||||||||||
Balance as of April 30, 2012 | 6,200 | — | 2,279 | 36,110 | 44,589 | ||||||||||||||||
Provision | 28,430 | — | 4,647 | 42,649 | 75,726 | ||||||||||||||||
Charge-offs | (27,240 | ) | — | (4,157 | ) | (31,215 | ) | (62,612 | ) | ||||||||||||
Balance as of April 30, 2013 | 7,390 | — | 2,769 | 47,544 | 57,703 | ||||||||||||||||
Provision | 24,619 | 45 | 3,760 | 42,634 | 71,058 | ||||||||||||||||
Charge-offs | (24,479 | ) | (45 | ) | (3,527 | ) | (48,132 | ) | (76,183 | ) | |||||||||||
Balances as of April 30, 2014 | $ | 7,530 | $ | — | $ | 3,002 | $ | 42,046 | $ | 52,578 | |||||||||||
Mortgage_Loans_Held_For_Invest1
Mortgage Loans Held For Investment And Related Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||||
Mortgage Loans Held For Investment And Related Assets [Abstract] | ' | ||||||||||||||||||||||||
Schedule Of Mortgage Loan Portfolio | ' | ||||||||||||||||||||||||
The composition of our mortgage loan portfolio is as follows: | |||||||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Amount | % of Total | Amount | % of Total | ||||||||||||||||||||||
Adjustable-rate loans | $ | 149,480 | 54 | % | $ | 191,093 | 55 | % | |||||||||||||||||
Fixed-rate loans | 127,943 | 46 | % | 159,142 | 45 | % | |||||||||||||||||||
277,423 | 100 | % | 350,235 | 100 | % | ||||||||||||||||||||
Unamortized deferred fees and costs | 2,277 | 2,868 | |||||||||||||||||||||||
Less: Allowance for loan losses | (11,272 | ) | (14,314 | ) | |||||||||||||||||||||
$ | 268,428 | $ | 338,789 | ||||||||||||||||||||||
Schedule Of Allowance For Loan Losses | ' | ||||||||||||||||||||||||
Activity in the allowance for loan losses for the years ended April 30, 2014, 2013 and 2012 is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Balance as of the beginning of the year | $ | 14,314 | $ | 26,540 | $ | 92,087 | |||||||||||||||||||
Provision | 8,271 | 13,283 | 24,075 | ||||||||||||||||||||||
Recoveries | 4,040 | 3,338 | 292 | ||||||||||||||||||||||
Charge-offs | (15,353 | ) | (28,847 | ) | (89,914 | ) | |||||||||||||||||||
Balance as of the end of the year | $ | 11,272 | $ | 14,314 | $ | 26,540 | |||||||||||||||||||
Schedule Of Portfolio Balance And Related Allowance | ' | ||||||||||||||||||||||||
The balance of these loans and the related allowance is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Portfolio Balance | Related Allowance | Portfolio Balance | Related Allowance | ||||||||||||||||||||||
Pooled (less than 60 days past due) | $ | 158,496 | $ | 4,508 | $ | 207,319 | $ | 5,628 | |||||||||||||||||
Impaired: | |||||||||||||||||||||||||
Individually (TDRs) | 43,865 | 4,346 | 55,061 | 4,924 | |||||||||||||||||||||
Individually (60 days or more past due) | 75,062 | 2,418 | 87,855 | 3,762 | |||||||||||||||||||||
$ | 277,423 | $ | 11,272 | $ | 350,235 | $ | 14,314 | ||||||||||||||||||
Schedule Of Mortgage Loans Held For Investment And The Related Allowance | ' | ||||||||||||||||||||||||
Detail of our mortgage loans held for investment and the related allowance as of April 30, 2014 is as follows: | |||||||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||||||
Outstanding Principal Balance | Loan Loss Allowance | % 30+ Days | |||||||||||||||||||||||
Amount | % of Principal | Past Due | |||||||||||||||||||||||
Purchased from SCC | $ | 159,566 | $ | 8,655 | 5.4 | % | 27.1 | % | |||||||||||||||||
All other | 117,857 | 2,617 | 2.2 | % | 7.5 | % | |||||||||||||||||||
$ | 277,423 | $ | 11,272 | 4.1 | % | 20.1 | % | ||||||||||||||||||
Schedule Of Credit Quality Indicators | ' | ||||||||||||||||||||||||
Credit quality indicators as of April 30, 2014 include the following: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Credit Quality Indicators | Purchased from SCC | All Other | Total Portfolio | ||||||||||||||||||||||
Occupancy status: | |||||||||||||||||||||||||
Owner occupied | $ | 117,457 | $ | 77,572 | $ | 195,029 | |||||||||||||||||||
Non-owner occupied | 42,109 | 40,285 | 82,394 | ||||||||||||||||||||||
$ | 159,566 | $ | 117,857 | $ | 277,423 | ||||||||||||||||||||
Documentation level: | |||||||||||||||||||||||||
Full documentation | $ | 53,019 | $ | 83,833 | $ | 136,852 | |||||||||||||||||||
Limited documentation | 4,897 | 12,971 | 17,868 | ||||||||||||||||||||||
Stated income | 88,207 | 13,075 | 101,282 | ||||||||||||||||||||||
No documentation | 13,443 | 7,978 | 21,421 | ||||||||||||||||||||||
$ | 159,566 | $ | 117,857 | $ | 277,423 | ||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||
High | $ | 45,688 | $ | — | $ | 45,688 | |||||||||||||||||||
Medium | 113,878 | — | 113,878 | ||||||||||||||||||||||
Low | — | 117,857 | 117,857 | ||||||||||||||||||||||
$ | 159,566 | $ | 117,857 | $ | 277,423 | ||||||||||||||||||||
Schedule Of Past Due Mortgage Loans | ' | ||||||||||||||||||||||||
Detail of the aging of the mortgage loans in our portfolio as of April 30, 2014 is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Less than 60 | 60 – 89 Days | 90+ Days | Total | Current | Total | ||||||||||||||||||||
Days Past Due | Past Due | Past Due(1) | Past Due | ||||||||||||||||||||||
Purchased from SCC | $ | 12,052 | $ | 2,623 | $ | 49,431 | $ | 64,106 | $ | 95,460 | $ | 159,566 | |||||||||||||
All other | 5,421 | 847 | 8,451 | 14,719 | 103,138 | 117,857 | |||||||||||||||||||
$ | 17,473 | $ | 3,470 | $ | 57,882 | $ | 78,825 | $ | 198,598 | $ | 277,423 | ||||||||||||||
(1) | We do not accrue interest on loans past due 90 days or more. | ||||||||||||||||||||||||
Schedule Of Non-Accrual Loans | ' | ||||||||||||||||||||||||
Information related to our non-accrual loans is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Purchased from SCC | $ | 61,767 | $ | 70,327 | |||||||||||||||||||||
Other | 12,528 | 14,906 | |||||||||||||||||||||||
74,295 | 85,233 | ||||||||||||||||||||||||
TDRs: | |||||||||||||||||||||||||
Purchased from SCC | 4,648 | 3,719 | |||||||||||||||||||||||
Other | 951 | 502 | |||||||||||||||||||||||
5,599 | 4,221 | ||||||||||||||||||||||||
Total non-accrual loans | $ | 79,894 | $ | 89,454 | |||||||||||||||||||||
Information Related To Impaired Loans | ' | ||||||||||||||||||||||||
Information related to impaired loans is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Balance | Balance | Total | Related Allowance | ||||||||||||||||||||||
With Allowance | With No Allowance | Impaired Loans | |||||||||||||||||||||||
As of April 30, 2014: | |||||||||||||||||||||||||
Purchased from SCC | $ | 27,924 | $ | 71,075 | $ | 98,999 | $ | 3,239 | |||||||||||||||||
Other | 5,176 | 14,752 | 19,928 | 3,525 | |||||||||||||||||||||
$ | 33,100 | $ | 85,827 | $ | 118,927 | $ | 6,764 | ||||||||||||||||||
As of April 30, 2013: | |||||||||||||||||||||||||
Purchased from SCC | $ | 33,791 | $ | 84,592 | $ | 118,383 | $ | 6,573 | |||||||||||||||||
Other | 7,601 | 16,932 | 24,533 | 2,113 | |||||||||||||||||||||
$ | 41,392 | $ | 101,524 | $ | 142,916 | $ | 8,686 | ||||||||||||||||||
Schedule Of Allowance For Impaired Loans | ' | ||||||||||||||||||||||||
Information related to the allowance for impaired loans is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Portion of total allowance for loan losses allocated to impaired loans and TDR loans: | |||||||||||||||||||||||||
Based on collateral value method | $ | 2,418 | $ | 3,762 | |||||||||||||||||||||
Based on discounted cash flow method | 4,346 | 4,924 | |||||||||||||||||||||||
$ | 6,764 | $ | 8,686 | ||||||||||||||||||||||
Information Related To Activities Of Non-Performing Assets | ' | ||||||||||||||||||||||||
Information related to our impaired loans is as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
For the year ended April 30, | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Average impaired loans: | |||||||||||||||||||||||||
Purchased from SCC | $ | 93,873 | $ | 133,936 | $ | 211,867 | |||||||||||||||||||
All other | 22,607 | 25,425 | 33,940 | ||||||||||||||||||||||
$ | 116,480 | $ | 159,361 | $ | 245,807 | ||||||||||||||||||||
Investments_Tables
Investments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||
Amortized Cost And Fair Value Of Securities Available-For-Sale | ' | ||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities classified as AFS are summarized below: | |||||||||||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Cost | Unrealized | Unrealized | ||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||
Mortgage-backed securities | $ | 420,697 | $ | 2,798 | $ | — | $ | 423,495 | $ | 476,450 | $ | 6,592 | $ | (664 | ) | $ | 482,378 | ||||||||||||||||
Municipal bonds | 4,120 | 209 | — | 4,329 | 4,178 | 320 | — | 4,498 | |||||||||||||||||||||||||
$ | 424,817 | $ | 3,007 | $ | — | $ | 427,824 | $ | 480,628 | $ | 6,912 | $ | (664 | ) | $ | 486,876 | |||||||||||||||||
Contractual Maturities Of AFS Debt Securities At Varying Dates Over The Next 30 Years | ' | ||||||||||||||||||||||||||||||||
AFS debt securities held as of April 30, 2014 mature after five years. |
Property_And_Equipment_Tables
Property And Equipment (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Property, Plant and Equipment, Net [Abstract] | ' | ||||||||
Components Of Property And Equipment | ' | ||||||||
The components of property and equipment, net of accumulated depreciation and amortization, are as follows: | |||||||||
(in 000s) | |||||||||
As of April 30, | 2014 | 2013 | |||||||
Buildings | $ | 100,034 | $ | 108,265 | |||||
Computers and other equipment | 139,290 | 112,203 | |||||||
Leasehold improvements | 51,197 | 38,771 | |||||||
Purchased software | 9,997 | 4,660 | |||||||
Construction in process | 2,527 | 2,094 | |||||||
Land and other non-depreciable assets | 1,866 | 1,887 | |||||||
$ | 304,911 | $ | 267,880 | ||||||
Goodwill_And_Intangible_Assets1
Goodwill And Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule Of Goodwill | ' | ||||||||||||||||||||||||
Changes in the carrying amount of goodwill of our Tax Services segment for the years ended April 30, 2014 and 2013 are as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
Goodwill | Accumulated Impairment Losses | Net | |||||||||||||||||||||||
Balance as of May 1, 2012 | $ | 459,863 | $ | (32,297 | ) | $ | 427,566 | ||||||||||||||||||
Acquisitions | 7,625 | — | 7,625 | ||||||||||||||||||||||
Disposals and foreign currency changes, net | (409 | ) | — | (409 | ) | ||||||||||||||||||||
Impairments | — | — | — | ||||||||||||||||||||||
Balance as of April 30, 2013 | 467,079 | (32,297 | ) | 434,782 | |||||||||||||||||||||
Acquisitions | 3,086 | — | 3,086 | ||||||||||||||||||||||
Disposals and foreign currency changes, net | (1,751 | ) | — | (1,751 | ) | ||||||||||||||||||||
Impairments | — | — | — | ||||||||||||||||||||||
Balance as of April 30, 2014 | $ | 468,414 | $ | (32,297 | ) | $ | 436,117 | ||||||||||||||||||
Schedule Of Intangible Assets | ' | ||||||||||||||||||||||||
Components of the intangible assets of our Tax Services segment are as follows: | |||||||||||||||||||||||||
(in 000s) | |||||||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Carrying | Amortization | Carrying | Amortization | ||||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||
Reacquired franchise rights | $ | 233,749 | $ | (26,136 | ) | $ | 207,613 | $ | 214,330 | $ | (18,204 | ) | $ | 196,126 | |||||||||||
Customer relationships | 123,110 | (59,521 | ) | 63,589 | 100,719 | (48,733 | ) | 51,986 | |||||||||||||||||
Internally-developed software | 101,162 | (72,598 | ) | 28,564 | 91,745 | (72,764 | ) | 18,981 | |||||||||||||||||
Noncompete agreements | 24,694 | (22,223 | ) | 2,471 | 23,058 | (21,728 | ) | 1,330 | |||||||||||||||||
Franchise agreements | 19,201 | (6,934 | ) | 12,267 | 19,201 | (5,654 | ) | 13,547 | |||||||||||||||||
Purchased technology | 54,900 | (13,782 | ) | 41,118 | 14,800 | (12,331 | ) | 2,469 | |||||||||||||||||
Trade name | 300 | (300 | ) | — | 300 | (300 | ) | — | |||||||||||||||||
$ | 557,116 | $ | (201,494 | ) | $ | 355,622 | $ | 464,153 | $ | (179,714 | ) | $ | 284,439 | ||||||||||||
Customer_Banking_Deposits_Tabl
Customer Banking Deposits (Tables) | 12 Months Ended | ||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||
Deposits [Abstract] | ' | ||||||||||||||||
Components Of Banking Deposits | ' | ||||||||||||||||
The components of customer banking deposits as of April 30, 2014 and 2013 and the related interest expense recorded during the periods are as follows: | |||||||||||||||||
(in 000s) | |||||||||||||||||
April 30, | 2014 | 2013 | |||||||||||||||
Outstanding | Interest | Outstanding | Interest | ||||||||||||||
Balance | Expense | Balance | Expense | ||||||||||||||
Short-term: | |||||||||||||||||
Money-market deposits | $ | 24,870 | $ | 1,228 | $ | 188,939 | $ | 1,827 | |||||||||
Savings deposits | 7,611 | 66 | 18,608 | 138 | |||||||||||||
Checking deposits: | |||||||||||||||||
Interest-bearing | 189 | 7 | 1,941 | 21 | |||||||||||||
Non-interest-bearing | 429,992 | — | 391,654 | — | |||||||||||||
430,181 | 7 | 393,595 | 21 | ||||||||||||||
IRAs and other time deposits: | |||||||||||||||||
Due in one year | 3,054 | 18,529 | |||||||||||||||
IRAs | 304,069 | 316,793 | |||||||||||||||
307,123 | 808 | 335,322 | 3,674 | ||||||||||||||
$ | 769,785 | $ | 2,109 | $ | 936,464 | $ | 5,660 | ||||||||||
Long-term: | |||||||||||||||||
Due in two years | $ | 166 | $ | 1,436 | |||||||||||||
Due in three years | 7 | 106 | |||||||||||||||
Due in four years | 315 | 13 | |||||||||||||||
Due in five years | 15 | 312 | |||||||||||||||
$ | 503 | $ | — | $ | 1,867 | $ | — | ||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Debt Instruments [Abstract] | ' | ||||||||
Components Of Long-Term Debt | ' | ||||||||
The components of long-term debt are as follows: | |||||||||
(in 000s) | |||||||||
As of April 30, | 2014 | 2013 | |||||||
Senior Notes, 5.500%, due November 2022 | $ | 497,612 | $ | 497,330 | |||||
Senior Notes, 5.125%, due October 2014 | 399,882 | 399,648 | |||||||
Capital lease obligation, due over the next 9 years | 8,980 | 9,702 | |||||||
906,474 | 906,680 | ||||||||
Less: Current portion | (400,637 | ) | (722 | ) | |||||
$ | 505,837 | $ | 905,958 | ||||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring | ' | ||||||||||||||||||||
The carrying amounts and estimated fair values of our financial instruments are as follows: | |||||||||||||||||||||
(in 000s) | |||||||||||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | Fair Value | |||||||||||||||||
Amount | Fair Value | Amount | Fair Value | Hierarchy | |||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 2,185,307 | $ | 2,185,307 | $ | 1,747,584 | $ | 1,747,584 | Level 1 | ||||||||||||
Cash and cash equivalents - restricted | 115,319 | 115,319 | 117,837 | 117,837 | Level 1 | ||||||||||||||||
Receivables, net - short-term | 191,618 | 191,618 | 206,835 | 206,810 | Level 1 | ||||||||||||||||
Mortgage loans held for investment, net | 268,428 | 192,281 | 338,789 | 210,858 | Level 3 | ||||||||||||||||
Investments in AFS securities | 427,824 | 427,824 | 486,876 | 486,876 | Level 2 | ||||||||||||||||
Receivables, net - long-term | 104,678 | 104,678 | 125,048 | 134,283 | Level 1 and 3 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Customer banking deposits | 770,288 | 765,376 | 938,331 | 934,019 | Level 1 and 3 | ||||||||||||||||
Long-term debt | 906,474 | 955,050 | 906,680 | 964,630 | Level 2 | ||||||||||||||||
Contingent consideration payments | 9,206 | 9,206 | 11,277 | 11,277 | Level 3 | ||||||||||||||||
Assets Remeasured At Fair Value On Recurring Basis | ' | ||||||||||||||||||||
Assets Remeasured At Fair Value On Non-Recurring Basis | ' | ||||||||||||||||||||
The following table presents the assets that were remeasured at fair value on a non-recurring basis during the fiscal years ended April 30, 2014 and 2013 and the losses on those remeasurements: | |||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Losses | |||||||||||||||||
As of April 30, 2014: | |||||||||||||||||||||
Impaired mortgage loans held for investment | $ | 69,131 | $ | — | $ | — | $ | 69,131 | $ | (3,739 | ) | ||||||||||
As a percentage of total assets | 1.5 | % | — | — | 1.5 | % | |||||||||||||||
As of April 30, 2013: | |||||||||||||||||||||
Impaired mortgage loans held for investment | $ | 84,708 | $ | — | $ | — | $ | 84,708 | $ | (10,663 | ) | ||||||||||
As a percentage of total assets | 1.9 | % | — | — | 1.9 | % | |||||||||||||||
Quantitative Information About Level 3 Fair Value Measurements | ' | ||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||
Fair Value at | Valuation | Unobservable Input | Range | ||||||||||||||||||
April 30, 2014 | Technique | (Weighted Average) | |||||||||||||||||||
Impaired mortgage loans held for investment - non TDRs | $ | 72,644 | Collateral- | Cost to list/sell | 0% – 185%(9%) | ||||||||||||||||
based | Time to sell (months) | 24(24) | |||||||||||||||||||
Collateral depreciation | (166%) – 100%(50%) | ||||||||||||||||||||
Loss severity | 0% – 100%(64%) | ||||||||||||||||||||
Impaired mortgage loans held for investment - TDRs | $ | 39,519 | Discounted | Aged default performance | 24% – 39%(32%) | ||||||||||||||||
cash flow | Loss severity | 0% – 22%(6%) |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | |||||||
Apr. 30, 2014 | ||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||
Summary Of Share Repurchase And Retirements | ' | |||||||
A summary of our share repurchase and retirements for fiscal years 2014, 2013 and 2012 is as follows: | ||||||||
(in 000s) | ||||||||
Shares | Cost | |||||||
Fiscal year: | ||||||||
2014 | — | $ | — | |||||
2013 | 21,259 | 315,000 | ||||||
2012 | 14,554 | 199,989 | ||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||
Apr. 30, 2014 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||||
Summary Of Stock Options | ' | ||||||||||||||
A summary of options for the fiscal year ended April 30, 2014, is as follows: | |||||||||||||||
(dollars in 000s, except per share amounts) | |||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||
Exercise Price | Remaining | Intrinsic Value | |||||||||||||
Contractual Term | |||||||||||||||
Outstanding, beginning of the year | 4,504 | $ | 17.53 | ||||||||||||
Granted | 35 | 28.26 | |||||||||||||
Exercised | (1,179 | ) | 18.15 | ||||||||||||
Forfeited or expired | (237 | ) | 18.56 | ||||||||||||
Outstanding, end of the year | 3,123 | $ | 17.34 | 6 years | $ | 34,655 | |||||||||
Exercisable, end of the year | 2,317 | $ | 17.5 | 6 years | $ | 25,344 | |||||||||
Exercisable and expected to vest | 3,076 | 17.33 | 6 years | 34,150 | |||||||||||
Assumptions Used To Value Options | ' | ||||||||||||||
The following assumptions were used to value options during the periods: | |||||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||||
Options - management and director: | |||||||||||||||
Expected volatility | 30.89% - 31.57% | 29.69% - 31.43% | 31.75% - 32.34% | ||||||||||||
Expected term | 4 years | 4 - 5 years | 5 years | ||||||||||||
Dividend yield | 2.77% - 2.87% | 4.18% - 5.21% | 3.43% - 4.80% | ||||||||||||
Risk-free interest rate | 1.06% - 1.31% | 0.61% - 0.75% | 0.79% - 1.95% | ||||||||||||
Weighted-average fair value | $ | 5.57 | $ | 2.79 | $ | 3.31 | |||||||||
Summary Of Nonvested Shares | ' | ||||||||||||||
A summary of nonvested shares, nonvested share units and deferred stock units, including those that are performance-based, for the year ended April 30, 2014, is as follows: | |||||||||||||||
(shares in 000s) | |||||||||||||||
Nonvested Shares and Nonvested Share Units | Performance-Based Nonvested Share Units | ||||||||||||||
Shares | Weighted-Average | Shares | Weighted-Average | ||||||||||||
Grant Date | Grant Date | ||||||||||||||
Fair Value | Fair Value | ||||||||||||||
Outstanding, beginning of the year | 1,806 | $ | 14.64 | 658 | $ | 16.89 | |||||||||
Granted | 488 | 27.69 | 390 | 28.59 | |||||||||||
Released | (578 | ) | 14.89 | — | — | ||||||||||
Forfeited | (149 | ) | 17.74 | (82 | ) | 21.82 | |||||||||
Outstanding, end of the year | 1,567 | $ | 18.23 | 966 | $ | 20.98 | |||||||||
Performance-Based Nonvested Share Units | ' | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||||
Assumptions Used To Value Options | ' | ||||||||||||||
The following assumptions were used to value performance-based nonvested share units using the Monte Carlo valuation model during the periods: | |||||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||||
Expected volatility | 11.75% – 70.17% | 12.61% – 71.96% | 20.68% – 143.12% | ||||||||||||
Expected term | 3 years | 3 years | 3 years | ||||||||||||
Dividend yield (1) | 0% – 2.88% | 0% – 5.01% | — | % | |||||||||||
Risk-free interest rate | 0.61 | % | 0.4 | % | 0.75 | % | |||||||||
Weighted-average fair value | $ | 28.59 | $ | 16.72 | $ | 17.46 | |||||||||
(1) | The valuation model assumes that dividends are reinvested by the Company on a continuous basis. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule Of Components Of Income From Continuing Operations | ' | ||||||||||||
The components of income from continuing operations upon which domestic and foreign income taxes have been provided are as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Domestic | $ | 754,036 | $ | 664,966 | $ | 547,535 | |||||||
Foreign | 13,080 | 37,045 | 28,535 | ||||||||||
$ | 767,116 | $ | 702,011 | $ | 576,070 | ||||||||
Schedule Of Components Of Income Tax Expense (Benefit) For Continuing Operations | ' | ||||||||||||
The components of income tax expense (benefit) for continuing operations are as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Current: | |||||||||||||
Federal | $ | 195,277 | $ | 219,411 | $ | 126,773 | |||||||
State | 33,274 | 43,116 | 21,285 | ||||||||||
Foreign | 6,749 | 3,173 | 8,647 | ||||||||||
235,300 | 265,700 | 156,705 | |||||||||||
Deferred: | |||||||||||||
Federal | 28,624 | (29,258 | ) | 55,032 | |||||||||
State | 5,475 | (69 | ) | 18,154 | |||||||||
Foreign | (2,380 | ) | 480 | 211 | |||||||||
31,719 | (28,847 | ) | 73,397 | ||||||||||
Total income taxes for continuing operations | $ | 267,019 | $ | 236,853 | $ | 230,102 | |||||||
Schedule Of Effective Income Tax Rate Reconciliation | ' | ||||||||||||
The reconciliation between the income tax provision and the amount computed by applying the statutory federal tax rate of 35% to income taxes of continuing operations is as follows: | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
U.S. statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Change in tax rate resulting from: | |||||||||||||
State income taxes, net of federal income tax benefit | 3.8 | % | 4 | % | 4.2 | % | |||||||
Permanent differences | 0.1 | % | (0.1 | )% | 0.5 | % | |||||||
Uncertain tax positions | (5.6 | )% | (4.1 | )% | (0.6 | )% | |||||||
Change in valuation allowance | 1.5 | % | (1.0 | )% | 0.2 | % | |||||||
Other | — | % | (0.1 | )% | 0.6 | % | |||||||
Effective tax rate | 34.8 | % | 33.7 | % | 39.9 | % | |||||||
Schedule Of Deferred Tax Assets And Liabilities | ' | ||||||||||||
The significant components of deferred tax assets and liabilities are reflected in the following table: | |||||||||||||
(in 000s) | |||||||||||||
As of April 30, | 2014 | 2013 | |||||||||||
Gross deferred tax assets: | |||||||||||||
Accrued expenses | $ | 34,052 | $ | 15,842 | |||||||||
Allowance for credit losses and related reserves | 115,145 | 114,570 | |||||||||||
Capital loss carry-forward | — | 45,826 | |||||||||||
Valuation allowance | (10,837 | ) | (28,088 | ) | |||||||||
Current | 138,360 | 148,150 | |||||||||||
Deferred and stock-based compensation | 21,348 | 20,758 | |||||||||||
Deferred revenue | 8,090 | 30,225 | |||||||||||
Net operating loss carry-forward | 21,434 | 20,070 | |||||||||||
Federal tax benefits related to state unrecognized tax benefits | 28,601 | 30,374 | |||||||||||
Capital loss carry-forward | — | 2,379 | |||||||||||
Other | 9,861 | 3,901 | |||||||||||
Valuation allowance | (8,339 | ) | (26,525 | ) | |||||||||
Noncurrent | 80,995 | 81,182 | |||||||||||
219,355 | 229,332 | ||||||||||||
Gross deferred tax liabilities: | |||||||||||||
Prepaid expenses | (3,033 | ) | (2,830 | ) | |||||||||
Current | (3,033 | ) | (2,830 | ) | |||||||||
Property and equipment | (28,610 | ) | (25,794 | ) | |||||||||
Mortgage-related investment | (15,441 | ) | (20,033 | ) | |||||||||
Intangibles | (59,881 | ) | (36,565 | ) | |||||||||
Noncurrent | (103,932 | ) | (82,392 | ) | |||||||||
Net deferred tax assets | $ | 112,390 | $ | 144,110 | |||||||||
Schedule Of Reconciliation Of Unrecognized Tax Benefits | ' | ||||||||||||
Changes in unrecognized tax benefits for fiscal years 2014, 2013 and 2012 are as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Balance, beginning of the year | $ | 146,391 | $ | 206,393 | $ | 154,848 | |||||||
Additions based on tax positions related to prior years | 9,743 | 11,867 | 26,523 | ||||||||||
Reductions based on tax positions related to prior years | (25,403 | ) | (49,493 | ) | (3,858 | ) | |||||||
Additions based on tax positions related to the current year | 7,399 | 2,314 | 42,735 | ||||||||||
Reductions related to settlements with tax authorities | (23,993 | ) | (25,259 | ) | (8,742 | ) | |||||||
Expiration of statute of limitations | (11,853 | ) | (702 | ) | (2,814 | ) | |||||||
Foreign currency translation | — | (278 | ) | (838 | ) | ||||||||
Other | 9,207 | 1,549 | (1,461 | ) | |||||||||
Balance, end of the year | $ | 111,491 | $ | 146,391 | $ | 206,393 | |||||||
Interest_Income_And_Interest_E1
Interest Income And Interest Expense (Tables) | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Interest Income And Interest Expense [Abstract] | ' | ||||||||||||
Schedule Of Interest Income And Expense Of Continuing Operations | ' | ||||||||||||
The following table shows the components of interest income and expense of continuing operations: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Interest income: | |||||||||||||
Emerald Advance lines of credit | $ | 56,877 | $ | 59,657 | $ | 59,660 | |||||||
Mortgage loans, net | 13,810 | 16,556 | 20,322 | ||||||||||
Loans to franchisees | 9,494 | 10,023 | 10,234 | ||||||||||
AFS securities | 9,664 | 7,000 | 4,463 | ||||||||||
Other | 8,249 | 5,593 | 5,121 | ||||||||||
$ | 98,094 | $ | 98,829 | $ | 99,800 | ||||||||
Interest expense: | |||||||||||||
Borrowings | $ | 55,279 | $ | 74,297 | $ | 84,782 | |||||||
Deposits | 2,109 | 5,660 | 6,735 | ||||||||||
FHLB advances | — | — | 572 | ||||||||||
$ | 57,388 | $ | 79,957 | $ | 92,089 | ||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule Of Deferred Revenue Related To The Peace Of Mind Program | ' | ||||||||
Changes in the related balance of deferred revenue are as follows: | |||||||||
(in 000s) | |||||||||
Year ended April 30, | 2014 | 2013 | |||||||
Balance, beginning of the year | $ | 146,286 | $ | 141,080 | |||||
Amounts deferred for new guarantees issued | 88,636 | 76,561 | |||||||
Revenue recognized on previous deferrals | (89,685 | ) | (71,355 | ) | |||||
Balance, end of the year | $ | 145,237 | $ | 146,286 | |||||
Future Minimum Operating Lease Commitments | ' | ||||||||
Future minimum operating lease commitments as of April 30, 2014, are as follows: | |||||||||
(in 000s) | |||||||||
2015 | $ | 183,701 | |||||||
2016 | 119,377 | ||||||||
2017 | 70,447 | ||||||||
2018 | 33,047 | ||||||||
2019 | 11,892 | ||||||||
2020 and beyond | 5,166 | ||||||||
$ | 423,630 | ||||||||
Loss_Contingencies_Arising_Fro1
Loss Contingencies Arising From Representations And Warranties of Our Discontinued Mortgage Operations Loss Contingencies Arising From Representations And Warranties of Our Discontinued Mortgage Operations (Tables) | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Litigation And Related Contingencies | ' | ||||||||||||
We are a defendant in numerous litigation matters, arising both in the ordinary course of business and otherwise, including as described below. The matters described below are not all of the lawsuits to which we are subject. In some of the matters, very large or indeterminate amounts, including punitive damages, are sought. U.S. jurisdictions permit considerable variation in the assertion of monetary damages or other relief. Jurisdictions may permit claimants not to specify the monetary damages sought or may permit claimants to state only that the amount sought is sufficient to invoke the jurisdiction of the court. In addition, jurisdictions may permit plaintiffs to allege monetary damages in amounts well exceeding reasonably possible verdicts in the jurisdiction for similar matters. We believe that the monetary relief which may be specified in a lawsuit or a claim bears little relevance to its merits or disposition value due to this variability in pleadings and our experience in litigating or resolving through settlement of numerous claims over an extended period of time. | |||||||||||||
The outcome of a litigation matter and the amount or range of potential loss at particular points in time may be difficult to ascertain. Among other things, uncertainties can include how fact finders will evaluate documentary evidence and the credibility and effectiveness of witness testimony, and how trial and appellate courts will apply the law. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will themselves view the relevant evidence and applicable law. | |||||||||||||
In addition to litigation matters, we are also subject to claims and other loss contingencies arising out of our business activities, including as described below. | |||||||||||||
We accrue liabilities for litigation, claims and other loss contingencies and any related settlements (each referred to, individually, as a "matter" and, collectively, as "matters") when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Liabilities have been accrued for a number of the matters noted below. If a range of loss is estimated, and some amount within that range appears to be a better estimate than any other amount within that range, then that amount is accrued. If no amount within the range can be identified as a better estimate than any other amount, we accrue the minimum amount in the range. | |||||||||||||
For such matters where a loss is believed to be reasonably possible, but not probable, or the loss cannot be reasonably estimated, no accrual has been made. It is possible that such matters could require us to pay damages or make other expenditures or accrue liabilities in amounts that could not be reasonably estimated as of April 30, 2014. While the potential future liabilities could be material in the particular quarterly or annual periods in which they are recorded, based on information currently known, we do not believe any such liabilities are likely to have a material adverse effect on our consolidated financial position, results of operations and cash flows. As of April 30, 2014 and 2013, we accrued liabilities of $23.7 million and $11.9 million, respectively. | |||||||||||||
For some matters where a liability has not been accrued, we are able to estimate a reasonably possible loss or range of loss. This estimated range of reasonably possible loss is based upon currently available information and is subject to significant judgment and a variety of assumptions, as well as known and unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate. Those matters for which an estimate is not reasonably possible are not included within this estimated range. Therefore, this estimated range of reasonably possible loss represents what we believe to be an estimate of reasonably possible loss only for certain matters meeting these criteria. It does not represent our maximum loss exposure. For those matters, and for matters where a liability has been accrued, as of April 30, 2014, we believe the aggregate range of reasonably possible losses in excess of amounts accrued is not material. | |||||||||||||
For other matters, we are not currently able to estimate the reasonably possible loss or range of loss. We are often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the reasonably possible loss or range of loss, such as quantification of a damage demand from plaintiffs, discovery from other parties and investigation of factual allegations, rulings by courts on motions or appeals, analysis by experts, or the status of any settlement negotiations. | |||||||||||||
On a quarterly and annual basis, we review relevant information with respect to litigation and other loss contingencies and update our accruals, disclosures and estimates of reasonably possible loss or range of loss based on such reviews. Costs incurred with defending matters are expensed as incurred. Any receivable for insurance recoveries is recorded separately from the corresponding liability, and only if recovery is determined to be probable and reasonably estimable. | |||||||||||||
We believe we have meritorious defenses to the claims asserted in the various matters described in this note, and we intend to defend them vigorously, but there can be no assurances as to their outcomes. In the event of unfavorable outcomes, it could require modifications to our operations; in addition, the amounts that may be required to be paid to discharge or settle the matters could be substantial and could have a material adverse impact on our business and consolidated financial position, results of operations and cash flows. | |||||||||||||
LITIGATION, CLAIMS, INCLUDING INDEMNIFICATION CLAIMS, OR OTHER LOSS CONTINGENCIES PERTAINING TO DISCONTINUED MORTGAGE OPERATIONS – Although SCC ceased its mortgage loan origination activities in December 2007 and sold its loan servicing business in April 2008, SCC or the Company have been, remain, or may in the future be subject to litigation, claims, including indemnification claims, and other loss contingencies pertaining to SCC's mortgage business activities that occurred prior to such termination and sale. These contingencies, claims and lawsuits include actions by regulators, third parties seeking indemnification, including depositors and underwriters, individual plaintiffs, and cases in which plaintiffs seek to represent a class of others alleged to be similarly situated. Among other things, these contingencies, claims and lawsuits allege discriminatory or unfair and deceptive loan origination and servicing practices, fraud and other common law torts, rights to indemnification and violations of securities laws, the Truth in Lending Act (TILA), Equal Credit Opportunity Act and the Fair Housing Act. Given the impact of the financial crisis on the non-prime mortgage environment, the aggregate volume of these matters is substantial although it is difficult to predict either the likelihood of new matters being initiated or the outcome of existing matters. In many of these matters, including certain of the lawsuits and claims described below, it is not possible to estimate a reasonably possible loss or range of loss due to, among other things, the inherent uncertainties involved in these matters, some of which are beyond the Company's control, and the indeterminate damages sought in some of these matters. | |||||||||||||
On October 15, 2010, the Federal Home Loan Bank of Chicago (FHLB-Chicago) filed a lawsuit in the Circuit Court of Cook County, Illinois (Case No. 10CH45033) styled Federal Home Loan Bank of Chicago v. Bank of America Funding Corporation, et al. against multiple defendants, including various SCC-related entities, H&R Block, Inc. and other entities, arising out of FHLB-Chicago's purchase of residential mortgage-backed securities (RMBSs). The plaintiff seeks rescission and damages under state securities law and for common law negligent misrepresentation in connection with its purchase of two securities collateralized by loans originated and securitized by SCC. These two securities had a total initial principal amount of approximately $50 million, of which approximately $36 million remains outstanding. The plaintiff agreed to voluntarily dismiss H&R Block, Inc. from the suit. The remaining defendants, including SCC, filed motions to dismiss, which the court denied. The defendants moved for leave to appeal and the circuit court denied the motion. A portion of our loss contingency accrual is related to this matter for the amount of loss that we consider probable and reasonably estimable. | |||||||||||||
On May 31, 2012, a lawsuit was filed by Homeward in the Supreme Court of the State of New York, County of New York, against SCC styled Homeward Residential, Inc. v. Sand Canyon Corporation (Index No. 651885/2012). SCC removed the case to the United States District Court for the Southern District of New York on June 28, 2012 (Case No. 12-cv-5067). The plaintiff, in its capacity as the master servicer for Option One Mortgage Loan Trust 2006-2 and for the benefit of the trustee and the certificate holders of such trust, asserts claims for breach of contract, anticipatory breach, indemnity and declaratory judgment in connection with alleged losses incurred as a result of the breach of representations and warranties relating to loans sold to the trust and to SCC. The plaintiff seeks specific performance of alleged repurchase obligations or damages to compensate the trust and its certificate holders for alleged actual and anticipated losses, as well as a repurchase of all loans due to alleged misrepresentations by SCC as to itself and as to the loans' compliance with its underwriting standards and the value of underlying real estate. In response to a motion filed by SCC, the court dismissed the plaintiff's claims for breach of the duty to cure or repurchase, anticipatory breach, indemnity, and declaratory judgment. The case is proceeding on the remaining claims. We have not concluded that a loss related to this matter is probable, nor have we accrued a liability related to this matter. | |||||||||||||
On September 28, 2012, a second lawsuit was filed by Homeward in the District Court for the Southern District of New York against SCC styled Homeward Residential, Inc. v. Sand Canyon Corporation (Case No. 12-cv-7319). The plaintiff, in its capacity as the master servicer for Option One Mortgage Loan Trust 2006-3 and for the benefit of the trustee and the certificate holders of such trust, asserts claims for breach of contract and indemnity in connection with losses allegedly incurred as a result of the breach of representations and warranties relating to 96 loans sold to the trust. The plaintiff seeks specific performance of alleged repurchase obligations or damages to compensate the trust and its certificate holders for alleged actual and anticipated losses. In response to a motion filed by SCC, the court dismissed the plaintiff's claims for breach of the duty to cure and repurchase and for indemnification of its costs associated with the litigation. The case is proceeding on the remaining claims. We have not concluded that a loss related to this matter is probable, nor have we accrued a liability related to this matter. | |||||||||||||
On April 5, 2013, a third lawsuit was filed by Homeward in the District Court for the Southern District of New York against SCC. The suit, styled Homeward Residential, Inc. v. Sand Canyon Corporation (Case No. 13-cv-2107), was filed as a related matter to the September 2012 Homeward suit mentioned above. In this April 2013 lawsuit, the plaintiff, in its capacity as the master servicer for Option One Mortgage Loan Trust 2007-4 and for the benefit of the trustee and the certificate holders of such trust, asserts claims for breach of contract and indemnity in connection with losses allegedly incurred as a result of the breach of representations and warranties relating to 159 loans sold to the trust. The plaintiff seeks specific performance of alleged repurchase obligations or damages to compensate the trust and its certificate holders for alleged actual and anticipated losses. In response to a motion filed by SCC, the court dismissed the plaintiff’s claims for breach of the duty to cure and repurchase and for indemnification of its costs associated with the litigation. The case is proceeding on the remaining claims. We have not concluded that a loss related to this matter is probable, nor have we accrued a liability related to this matter. | |||||||||||||
Underwriters and depositors are, or have been, involved in multiple lawsuits related to securitization transactions in which SCC participated. These lawsuits allege or alleged a variety of claims, including violations of federal and state securities laws and common law fraud, based on alleged materially inaccurate or misleading disclosures. Based on information currently available to SCC, it believes that the 18 lawsuits in which SCC received notice of a claim for indemnification of losses and expenses, involved 38 securitization transactions with original investments of approximately $14 billion (of which the outstanding principal amount is approximately $4 billion). Because SCC has not been a party to these lawsuits (with the exception of the Federal Home Loan Bank of Chicago v. Bank of America Funding Corporation case discussed above) and has not had control of this litigation or any settlements thereof, SCC does not have precise information about the amount of damages or other remedies being asserted, the defenses to the claims in such lawsuits or the terms of any settlements of such lawsuits. SCC therefore cannot reasonably estimate the amount of potential losses or associated fees and expenses that may be incurred in connection with such lawsuits, which may be material. Additional lawsuits against the underwriters or depositors may be filed in the future, and SCC may receive additional notices of claims for indemnification from underwriters or depositors with respect to existing or new lawsuits or settlements of such lawsuits. Certain of the notices received included, and future notices may include, a reservation of rights that encompasses a right of contribution which may become operative if indemnification is unavailable or insufficient to cover all of the losses and expenses involved. We have not concluded that a loss related to any of these indemnification claims is probable, nor have we accrued a liability related to any of these claims. | |||||||||||||
LITIGATION, CLAIMS OR OTHER LOSS CONTINGENCIES PERTAINING TO CONTINUING OPERATIONS – | |||||||||||||
Employment-Related Claims and Litigation. On January 25, 2010, a wage and hour class action lawsuit was filed against us in the United States District Court for the Western District of Missouri styled Barbara Petroski, et al. v. H&R Block Eastern Enterprises, Inc., et al., (Case No. 10-00075-CV-W-DW). The plaintiffs generally allege failure to compensate tax professionals nationwide for training that is required to be eligible for rehire the following tax season, and seek compensatory damages, liquidated damages, statutory penalties, pre-judgment interest, attorneys' fees and costs. A conditional class was certified under the Fair Labor Standards Act in March 2011 (consisting of tax professionals nationwide who worked in company-owned offices and who were not compensated for such training on or after April 15, 2007). Two classes were also certified under state laws in California and New York (consisting of tax professionals who worked in company-owned offices in California and New York and who were not compensated for such training on or after March 4, 2006 and on or after March 4, 2004, respectively). We filed a motion to decertify the classes, along with a motion for summary judgment on all claims. On April 8, 2013, the court granted summary judgment in our favor on all claims. The plaintiffs filed an appeal. On May 1, 2014, the Eighth Circuit Court of Appeals affirmed the order of the trial court in our favor. We have not concluded that a loss related to this matter is probable, nor have we accrued a loss contingency related to this matter. | |||||||||||||
RAL and RAC Litigation. A series of putative class action lawsuits were filed against us in various federal courts beginning on November 17, 2011 concerning the refund anticipation loan (RAL) and refund anticipation check (RAC) products. The plaintiffs generally allege we engaged in unfair, deceptive or fraudulent acts in violation of various state consumer protection laws by facilitating RALs that were accompanied by allegedly inaccurate TILA disclosures, and by offering RACs without any TILA disclosures. Certain plaintiffs also allege violation of disclosure requirements of various state statutes expressly governing RALs and provisions of those statutes prohibiting tax preparers from charging or retaining certain fees. Collectively, the plaintiffs seek to represent clients who purchased RAL or RAC products in up to forty-two states and the District of Columbia during timeframes ranging from 2007 to the present. The plaintiffs seek equitable relief, disgorgement of profits, compensatory and statutory damages, restitution, civil penalties, attorneys' fees and costs. These cases were consolidated by the Judicial Panel on Multidistrict Litigation into a single proceeding in the United States District Court for the Northern District of Illinois for coordinated pretrial proceedings, styled IN RE: H&R Block Refund Anticipation Loan Litigation (MDL No. 2373/No: 1:12-CV-02973-JBG ). We filed a motion to compel arbitration, which remains pending. We have not concluded that a loss related to this matter is probable, nor have we accrued a loss contingency related to this matter. | |||||||||||||
Compliance Fee Litigation. On April 16, 2012, a putative class action lawsuit was filed against us in the Circuit Court of Jackson County, Missouri styled Manuel H. Lopez III v. H&R Block, Inc., et al. (Case # 1216CV12290) concerning a compliance fee charged to retail tax clients in the 2011 and 2012 tax seasons. The plaintiff seeks to represent all Missouri citizens who were charged the compliance fee, and asserts claims of violation of the Missouri Merchandising Practices Act, money had and received, and unjust enrichment. We filed a motion to compel arbitration of the 2011 claims. The court denied the motion. We filed an appeal. On May 6, 2014, the Missouri Court of Appeals, Western District, reversed the ruling of the trial court and remanded the case for further consideration of the motion. We have not concluded that a loss related to this matter is probable, nor have we accrued a loss contingency related to this matter. | |||||||||||||
On April 19, 2012, a putative class action lawsuit was filed against us in the United States District Court for the Western District of Missouri styled Ronald Perras v. H&R Block, Inc., et al. (Case No. 4:12-cv-00450-DGK) concerning a compliance fee charged to retail tax clients in the 2011 and 2012 tax seasons. The plaintiff seeks to represent all persons nationwide (excluding citizens of Missouri) who were charged the compliance fee, and asserts claims of violation of various state consumer laws, money had and received, and unjust enrichment. The plaintiff filed a motion for class certification in September 2013. The court subsequently granted our motion to compel arbitration of the 2011 claims and stayed all proceedings with respect to the 2011 claims. The case is continuing to proceed on the 2012 claims. We have not concluded that a loss related to this matter is probable, nor have we accrued a loss contingency related to this matter. | |||||||||||||
Form 8863 Litigation. A series of putative class action lawsuits were filed against us in various federal courts and one state court beginning on March 13, 2013. Taken together, the plaintiffs in these lawsuits purport to represent certain clients nationwide who filed Form 8863 during tax season 2013 through an H&R Block office or using H&R Block At Home® online tax services or tax preparation software, and allege breach of contract, negligence and violation of state consumer laws in connection with transmission of the form. The plaintiffs seek damages, pre-judgment interest, attorneys' fees and costs. In August 2013, the plaintiff in the state court action voluntarily dismissed her case without prejudice. On October 10, 2013, the Judicial Panel on Multidistrict Litigation granted our petition to consolidate the remaining federal lawsuits for coordinated pretrial proceedings in the United States District Court for the Western District of Missouri in a proceeding styled IN RE: H&R BLOCK IRS FORM 8863 LITIGATION (MDL No. 2474/Case No. 4:13-MD-02474-FJG). We filed a motion to compel arbitration and to strike class allegations relating to clients who agreed to arbitrate their claims, which remains pending. We have not concluded that a loss related to these lawsuits is probable, nor have we accrued a liability related to these lawsuits. | |||||||||||||
LITIGATION, CLAIMS AND OTHER LOSS CONTINGENCIES PERTAINING TO OTHER DISCONTINUED OPERATIONS – | |||||||||||||
Express IRA Litigation. On January 2, 2008, the Mississippi Attorney General in the Chancery Court of Hinds County, Mississippi First Judicial District (Case No. G 2008 6 S 2) filed a lawsuit regarding our former Express IRA product that is styled Jim Hood, Attorney for the State of Mississippi v. H&R Block, Inc., H&R Block Financial Advisors, Inc., et al. The complaint alleges fraudulent business practices, deceptive acts and practices, common law fraud and breach of fiduciary duty with respect to the sale of the product in Mississippi and seeks equitable relief, disgorgement of profits, damages and restitution, civil penalties and punitive damages. | |||||||||||||
Although we sold H&R Block Financial Advisors, Inc. (HRBFA) effective November 1, 2008, we remain responsible for any liabilities relating to the Express IRA litigation, among other things, through an indemnification agreement. A portion of our accrual is related to these indemnity obligations. | |||||||||||||
RSM McGladrey and Related Businesses. On April 17, 2009, a shareholder derivative complaint was filed by Brian Menezes, derivatively and on behalf of nominal defendant International Textile Group, Inc. against MCM and others in the Court of Common Pleas, Greenville County, South Carolina (C.A. No. 2009-CP-23-3346) styled Brian P. Menezes, Derivatively on Behalf of Nominal Defendant, International Textile Group, Inc. (f/k/a Safety Components International, Inc.) v. McGladrey Capital Markets, LLC (f/k/a RSM EquiCo Capital Markets, LLC), et al. The plaintiffs filed an amended complaint in October 2011 styled In re International Textile Group Merger Litigation, adding a putative class action claim. The plaintiffs allege claims of aiding and abetting, civil conspiracy, gross negligence and breach of fiduciary duty against MCM in connection with a fairness opinion MCM provided to the Special Committee of Safety Components International, Inc. (SCI) in 2006 regarding the merger between International Textile Group, Inc. and SCI. The plaintiffs seek actual and punitive damages, pre-judgment interest, attorneys' fees and costs. On February 8, 2012, the court dismissed the plaintiffs' civil conspiracy claim against all defendants. A class was certified on the remaining claims on November 20, 2012. The court granted summary judgment in favor of MCM on June 3, 2013 on the breach of fiduciary duty claim. To avoid the cost and inherent risk associated with litigation, the parties signed a memorandum of understanding to resolve the case, which is subject to approval by the court. The court granted preliminary approval of the settlement on February 19, 2014. A final approval hearing is set for June 26, 2014. A portion of our loss contingency accrual is related to this lawsuit for the amount of loss that we consider probable and reasonably estimable. | |||||||||||||
In connection with the sale of RSM and MCM, we indemnified the buyers against certain litigation matters. The indemnities are not subject to a stated term or limit. A portion of our accrual is related to these indemnity obligations. | |||||||||||||
OTHER – We are from time to time a party to litigation, claims and other loss contingencies not discussed herein arising out of our business operations. These matters may include actions by state attorneys general, other state regulators, federal regulators, individual plaintiffs, and cases in which plaintiffs seek to represent a class of others similarly situated. | |||||||||||||
While we cannot provide assurance that we will ultimately prevail in each instance, we believe the amount, if any, we are required to pay to discharge or settle these other matters will not have a material adverse impact on our business or our consolidated financial position, results of operations and cash flows. | |||||||||||||
We believe we have meritorious defenses to the claims asserted in the various matters described in this note, and we intend to defend them vigorously. The amounts claimed in the matters are substantial, however, and there can be no assurances as to their outcomes. In the event of unfavorable outcomes, it could require modifications to our operations; in addition, the amounts that may be required to be paid to discharge or settle the matters could be substantial and could have a material adverse impact on our consolidated financial position, results of operations and cash flows. | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
Balance, beginning of the year | $ | 158,765 | $ | 130,018 | $ | 126,260 | |||||||
Provisions | 25,000 | 40,000 | 20,000 | ||||||||||
Payments | — | (11,253 | ) | (16,242 | ) | ||||||||
Balance, end of the year | $ | 183,765 | $ | 158,765 | $ | 130,018 | |||||||
Regulatory_Capital_Requirement1
Regulatory Capital Requirements Of HRB Bank (Tables) | 12 Months Ended | ||||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||
HRB Bank's Regulatory Capital Requirements | ' | ||||||||||||||||||||||
The following table sets forth HRB Bank's regulatory capital requirements calculated in its Call Report, as filed with the Federal Financial Institutions Examination Council (FFIEC): | |||||||||||||||||||||||
(dollars in 000s) | |||||||||||||||||||||||
Actual | Minimum | Minimum to be | |||||||||||||||||||||
Capital Requirement | Well Capitalized | ||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||
As of March 31, 2014: | |||||||||||||||||||||||
Total risk-based capital ratio (1) | $ | 563,899 | 168.5 | % | $ | 26,771 | 8 | % | $ | 33,464 | 10 | % | |||||||||||
Tier 1 risk-based capital ratio (2) | 559,572 | 167.2 | % | N/A | N/A | 20,079 | 6 | % | |||||||||||||||
Tier 1 capital ratio (leverage) (3) | 559,572 | 32.1 | % | 209,041 | 12 | % | (5) | 87,101 | 5 | % | |||||||||||||
Tangible equity ratio (4) | 559,572 | 32.1 | % | 26,130 | 1.5 | % | N/A | N/A | |||||||||||||||
As of March 31, 2013: | |||||||||||||||||||||||
Total risk-based capital ratio (1) | $ | 506,734 | 131.6 | % | $ | 30,806 | 8 | % | $ | 38,508 | 10 | % | |||||||||||
Tier 1 risk-based capital ratio (2) | 501,731 | 130.3 | % | N/A | N/A | 23,105 | 6 | % | |||||||||||||||
Tier 1 capital ratio (leverage) (3) | 501,731 | 25.5 | % | 236,315 | 12 | % | (5) | 98,464 | 5 | % | |||||||||||||
Tangible equity ratio (4) | 501,731 | 25.5 | % | 29,539 | 1.5 | % | N/A | N/A | |||||||||||||||
(1) | Total risk-based capital divided by risk-weighted assets. | ||||||||||||||||||||||
(2) | Tier 1 (core) capital less deduction for low-level recourse and residual interest divided by risk-weighted assets. | ||||||||||||||||||||||
(3) | Tier 1 (core) capital divided by adjusted total assets. | ||||||||||||||||||||||
(4) | Tangible capital divided by tangible assets. | ||||||||||||||||||||||
(5) | Effective April 5, 2012, the minimum capital requirement was changed to 4% by the OCC, although HRB Bank plans to maintain a minimum of 12.0% leverage capital at the end of each calendar quarter. |
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Operations By Reportable Operating Segment | ' | ||||||||||||
Information concerning the Company's continuing operations by reportable segment is as follows: | |||||||||||||
(in 000s) | |||||||||||||
Year ended April 30, | 2014 | 2013 | 2012 | ||||||||||
REVENUES : | |||||||||||||
Tax Services | $ | 2,999,460 | $ | 2,877,967 | $ | 2,862,378 | |||||||
Corporate and eliminations | 24,835 | 27,976 | 31,393 | ||||||||||
$ | 3,024,295 | $ | 2,905,943 | $ | 2,893,771 | ||||||||
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES : | |||||||||||||
Tax Services | $ | 866,367 | $ | 821,143 | $ | 704,002 | |||||||
Corporate and eliminations | (99,251 | ) | (119,132 | ) | (127,932 | ) | |||||||
$ | 767,116 | $ | 702,011 | $ | 576,070 | ||||||||
IDENTIFIABLE ASSETS : | |||||||||||||
Tax Services | $ | 2,945,242 | $ | 3,012,525 | $ | 2,298,484 | |||||||
Corporate | 1,748,287 | 1,525,254 | 2,351,083 | ||||||||||
$ | 4,693,529 | $ | 4,537,779 | $ | 4,649,567 | ||||||||
Quarterly_Financial_Data_Table
Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Summary Of Quarterly Financial Information | ' | ||||||||||||||||||||
(in 000s, except per share amounts) | |||||||||||||||||||||
Fiscal Year 2013 | Apr 30, 2013 | Jan 31, 2013 | Oct 31, 2012 | Jul 31, 2012 | |||||||||||||||||
Revenues | $ | 2,905,943 | $ | 2,200,212 | $ | 471,979 | $ | 137,263 | $ | 96,489 | |||||||||||
Income (loss) from continuing operations before taxes (benefit) | $ | 702,011 | $ | 1,129,836 | $ | (96,268 | ) | $ | (162,288 | ) | $ | (169,269 | ) | ||||||||
Income taxes (benefit) | 236,853 | 440,914 | (79,353 | ) | (61,089 | ) | (63,619 | ) | |||||||||||||
Net income (loss) from continuing operations | 465,158 | 688,922 | (16,915 | ) | (101,199 | ) | (105,650 | ) | |||||||||||||
Net loss from discontinued operations | (31,210 | ) | (24,582 | ) | (793 | ) | (4,044 | ) | (1,791 | ) | |||||||||||
Net income (loss) | $ | 433,948 | $ | 664,340 | $ | (17,708 | ) | $ | (105,243 | ) | $ | (107,441 | ) | ||||||||
Basic earnings (loss) per share: | |||||||||||||||||||||
Continuing operations | $ | 1.7 | $ | 2.53 | $ | (0.06 | ) | $ | (0.37 | ) | $ | (0.38 | ) | ||||||||
Discontinued operations | (0.11 | ) | (0.09 | ) | (0.01 | ) | (0.02 | ) | (0.01 | ) | |||||||||||
Consolidated | $ | 1.59 | $ | 2.44 | $ | (0.07 | ) | $ | (0.39 | ) | $ | (0.39 | ) | ||||||||
Diluted earnings (loss) per share: | |||||||||||||||||||||
Continuing operations | $ | 1.69 | $ | 2.51 | $ | (0.06 | ) | $ | (0.37 | ) | $ | (0.38 | ) | ||||||||
Discontinued operations | (0.11 | ) | (0.09 | ) | (0.01 | ) | (0.02 | ) | (0.01 | ) | |||||||||||
Consolidated | $ | 1.58 | $ | 2.42 | $ | (0.07 | ) | $ | (0.39 | ) | $ | (0.39 | ) | ||||||||
Schedule Of Share Price And Dividends Paid | ' | ||||||||||||||||||||
Fiscal Year | Fourth Quarter | Third Quarter | Second Quarter | First Quarter | |||||||||||||||||
Fiscal Year 2014: | |||||||||||||||||||||
Dividends paid per share | $ | 0.8 | $ | 0.2 | $ | 0.2 | $ | 0.2 | $ | 0.2 | |||||||||||
Stock price range: | |||||||||||||||||||||
High | $ | 32.42 | $ | 32.42 | $ | 30.53 | $ | 32.09 | $ | 31.75 | |||||||||||
Low | 25.98 | 26.92 | 27.13 | 25.98 | 27.24 | ||||||||||||||||
Fiscal Year 2013: | |||||||||||||||||||||
Dividends paid per share | $ | 0.8 | $ | 0.2 | $ | 0.2 | $ | 0.2 | $ | 0.2 | |||||||||||
Stock price range: | |||||||||||||||||||||
High | $ | 29.68 | $ | 29.68 | $ | 23.19 | $ | 18.04 | $ | 16.88 | |||||||||||
Low | 14.35 | 22.77 | 17.26 | 15.53 | 14.35 | ||||||||||||||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Statements (Tables) | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule Of Condensed Consolidating Statements Of Operations | ' | ||||||||||||||||||||
CONDENSED CONSOLIDATING INCOME STATEMENTS | (in 000s) | ||||||||||||||||||||
Year ended April 30, 2014 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Total revenues | $ | — | $ | 235,075 | $ | 2,795,562 | $ | (6,342 | ) | $ | 3,024,295 | ||||||||||
Cost of revenues | — | 179,779 | 1,454,219 | (6,342 | ) | 1,627,656 | |||||||||||||||
Selling, general and administrative | — | 22,505 | 610,923 | — | 633,428 | ||||||||||||||||
Total expenses | — | 202,284 | 2,065,142 | (6,342 | ) | 2,261,084 | |||||||||||||||
Operating income | — | 32,791 | 730,420 | — | 763,211 | ||||||||||||||||
Other income (expense), net | 478,866 | 8,037 | (13,942 | ) | (469,056 | ) | 3,905 | ||||||||||||||
Income from continuing operations before taxes | 478,866 | 40,828 | 716,478 | (469,056 | ) | 767,116 | |||||||||||||||
Income taxes | 3,709 | 10,551 | 252,759 | — | 267,019 | ||||||||||||||||
Net income from continuing operations | 475,157 | 30,277 | 463,719 | (469,056 | ) | 500,097 | |||||||||||||||
Net loss from discontinued operations | — | (23,771 | ) | (1,169 | ) | — | (24,940 | ) | |||||||||||||
Net income | 475,157 | 6,506 | 462,550 | (469,056 | ) | 475,157 | |||||||||||||||
Other comprehensive loss | (5,373 | ) | (2,012 | ) | (5,373 | ) | 7,385 | (5,373 | ) | ||||||||||||
Comprehensive income | $ | 469,784 | $ | 4,494 | $ | 457,177 | $ | (461,671 | ) | $ | 469,784 | ||||||||||
Year ended April 30, 2013 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Total revenues | $ | — | $ | 230,982 | $ | 2,681,987 | $ | (7,026 | ) | $ | 2,905,943 | ||||||||||
Cost of revenues | — | 193,400 | 1,417,824 | (6,436 | ) | 1,604,788 | |||||||||||||||
Selling, general and administrative | — | 42,530 | 562,529 | (590 | ) | 604,469 | |||||||||||||||
Total expenses | — | 235,930 | 1,980,353 | (7,026 | ) | 2,209,257 | |||||||||||||||
Operating income (loss) | — | (4,948 | ) | 701,634 | — | 696,686 | |||||||||||||||
Other income (expense), net (1) | 433,948 | (1,164 | ) | 6,489 | (433,948 | ) | 5,325 | ||||||||||||||
Income (loss) from continuing operations before taxes (benefit) | 433,948 | (6,112 | ) | 708,123 | (433,948 | ) | 702,011 | ||||||||||||||
Income taxes (benefit) (1) | — | (29,221 | ) | 266,074 | — | 236,853 | |||||||||||||||
Net income from continuing operations | 433,948 | 23,109 | 442,049 | (433,948 | ) | 465,158 | |||||||||||||||
Net income (loss) from discontinued operations (1) | — | (31,954 | ) | 744 | — | (31,210 | ) | ||||||||||||||
Net income (loss) | 433,948 | (8,845 | ) | 442,793 | (433,948 | ) | 433,948 | ||||||||||||||
Other comprehensive income (loss) | (1,595 | ) | 189 | (1,784 | ) | 1,595 | (1,595 | ) | |||||||||||||
Comprehensive income (loss) | $ | 432,353 | $ | (8,656 | ) | $ | 441,009 | $ | (432,353 | ) | $ | 432,353 | |||||||||
(1) | Amounts have been restated, including the presentation of equity in earnings of subsidiaries net of income taxes and discontinued operations. | ||||||||||||||||||||
Year ended April 30, 2012 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Total revenues | $ | — | $ | 234,925 | $ | 2,666,267 | $ | (7,421 | ) | $ | 2,893,771 | ||||||||||
Cost of revenues | — | 221,988 | 1,487,128 | (7,421 | ) | 1,701,695 | |||||||||||||||
Impairment of goodwill | — | — | 7,409 | — | 7,409 | ||||||||||||||||
Selling, general and administrative | — | 24,730 | 593,645 | — | 618,375 | ||||||||||||||||
Total expenses | — | 246,718 | 2,088,182 | (7,421 | ) | 2,327,479 | |||||||||||||||
Operating income (loss) | — | (11,793 | ) | 578,085 | — | 566,292 | |||||||||||||||
Other income, net (1) | 265,932 | 8,686 | 1,092 | (265,932 | ) | 9,778 | |||||||||||||||
Income (loss) from continuing operations before taxes (benefit) | 265,932 | (3,107 | ) | 579,177 | (265,932 | ) | 576,070 | ||||||||||||||
Income taxes (benefit) (1) | — | (1,191 | ) | 231,293 | — | 230,102 | |||||||||||||||
Net income (loss) from continuing operations | 265,932 | (1,916 | ) | 347,884 | (265,932 | ) | 345,968 | ||||||||||||||
Net loss from discontinued operations (1) | — | (40,172 | ) | (39,864 | ) | — | (80,036 | ) | |||||||||||||
Net income (loss) | 265,932 | (42,088 | ) | 308,020 | (265,932 | ) | 265,932 | ||||||||||||||
Other comprehensive income (loss) | 912 | 3,085 | (2,173 | ) | (912 | ) | 912 | ||||||||||||||
Comprehensive income (loss) | $ | 266,844 | $ | (39,003 | ) | $ | 305,847 | $ | (266,844 | ) | $ | 266,844 | |||||||||
Schedule Of Condensed Consolidating Balance Sheets | ' | ||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | (in 000s) | ||||||||||||||||||||
As of April 30, 2014 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Cash & cash equivalents | $ | — | $ | 612,376 | $ | 1,574,031 | $ | (1,100 | ) | $ | 2,185,307 | ||||||||||
Cash & cash equivalents - restricted | — | 67,463 | 47,856 | — | 115,319 | ||||||||||||||||
Receivables, net | — | 89,975 | 101,643 | — | 191,618 | ||||||||||||||||
Prepaid expenses and other current assets | — | 10,202 | 188,065 | — | 198,267 | ||||||||||||||||
Investments in available-for-sale securities | — | 423,495 | — | — | 423,495 | ||||||||||||||||
Total current assets | — | 1,203,511 | 1,911,595 | (1,100 | ) | 3,114,006 | |||||||||||||||
Mortgage loans held for investment, net | — | 268,428 | — | — | 268,428 | ||||||||||||||||
Investments in available-for-sale securities | — | — | 4,329 | — | 4,329 | ||||||||||||||||
Property and equipment, net | — | 121 | 304,790 | — | 304,911 | ||||||||||||||||
Intangible assets, net | — | — | 355,622 | — | 355,622 | ||||||||||||||||
Goodwill | — | — | 436,117 | — | 436,117 | ||||||||||||||||
Investments in subsidiaries | 904,331 | — | 60,902 | (965,233 | ) | — | |||||||||||||||
Amounts due from affiliates | 642,101 | 386,818 | 397 | (1,029,316 | ) | — | |||||||||||||||
Other assets | 11,271 | 173,168 | 25,677 | — | 210,116 | ||||||||||||||||
Total assets | $ | 1,557,703 | $ | 2,032,046 | $ | 3,099,429 | $ | (1,995,649 | ) | $ | 4,693,529 | ||||||||||
Customer banking deposits | $ | — | $ | 770,885 | $ | — | $ | (1,100 | ) | $ | 769,785 | ||||||||||
Accounts payable, accrued expenses and other current liabilities | 757 | 223,677 | 344,573 | — | 569,007 | ||||||||||||||||
Accrued salaries, wages and payroll taxes | — | 2,190 | 164,842 | — | 167,032 | ||||||||||||||||
Accrued income taxes | — | 71,132 | 335,523 | — | 406,655 | ||||||||||||||||
Current portion of long-term debt | — | 399,882 | 755 | — | 400,637 | ||||||||||||||||
Total current liabilities | 757 | 1,467,766 | 845,693 | (1,100 | ) | 2,313,116 | |||||||||||||||
Long-term debt | — | 497,612 | 8,225 | — | 505,837 | ||||||||||||||||
Other noncurrent liabilities | — | 5,766 | 312,261 | — | 318,027 | ||||||||||||||||
Amounts due to affiliates | 397 | — | 1,028,919 | (1,029,316 | ) | — | |||||||||||||||
Total liabilities | 1,154 | 1,971,144 | 2,195,098 | (1,030,416 | ) | 3,136,980 | |||||||||||||||
Stockholders' equity | 1,556,549 | 60,902 | 904,331 | (965,233 | ) | 1,556,549 | |||||||||||||||
Total liabilities and stockholders' equity | $ | 1,557,703 | $ | 2,032,046 | $ | 3,099,429 | $ | (1,995,649 | ) | $ | 4,693,529 | ||||||||||
As of April 30, 2013 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Cash & cash equivalents | $ | — | $ | 558,110 | $ | 1,192,197 | $ | (2,723 | ) | $ | 1,747,584 | ||||||||||
Cash & cash equivalents - restricted | — | 75,096 | 42,741 | — | 117,837 | ||||||||||||||||
Receivables, net | 769 | 99,844 | 106,222 | — | 206,835 | ||||||||||||||||
Prepaid expenses and other current assets | — | 17,915 | 372,172 | — | 390,087 | ||||||||||||||||
Total current assets | 769 | 750,965 | 1,713,332 | (2,723 | ) | 2,462,343 | |||||||||||||||
Mortgage loans held for investment, net | — | 338,789 | — | — | 338,789 | ||||||||||||||||
Investments in available-for-sale securities | — | 482,378 | 4,498 | — | 486,876 | ||||||||||||||||
Property and equipment, net | — | 877 | 267,003 | — | 267,880 | ||||||||||||||||
Intangible assets, net | — | — | 284,439 | — | 284,439 | ||||||||||||||||
Goodwill | — | — | 434,782 | — | 434,782 | ||||||||||||||||
Investments in subsidiaries (1) | 3,444,442 | — | 46,041 | (3,490,483 | ) | — | |||||||||||||||
Amounts due from affiliates | — | 410,590 | 2,189,625 | (2,600,215 | ) | — | |||||||||||||||
Other assets | 8,390 | 144,469 | 109,811 | — | 262,670 | ||||||||||||||||
Total assets | $ | 3,453,601 | $ | 2,128,068 | $ | 5,049,531 | $ | (6,093,421 | ) | $ | 4,537,779 | ||||||||||
Customer banking deposits | $ | — | $ | 939,187 | $ | — | $ | (2,723 | ) | $ | 936,464 | ||||||||||
Accounts payable, accrued expenses and other current liabilities | 429 | 191,133 | 332,359 | — | 523,921 | ||||||||||||||||
Accrued salaries, wages and payroll taxes | — | 1,225 | 133,745 | — | 134,970 | ||||||||||||||||
Accrued income taxes | — | 36,545 | 379,583 | — | 416,128 | ||||||||||||||||
Current portion of long-term debt | — | — | 722 | — | 722 | ||||||||||||||||
Total current liabilities | 429 | 1,168,090 | 846,409 | (2,723 | ) | 2,012,205 | |||||||||||||||
Long-term debt | — | 896,978 | 8,980 | — | 905,958 | ||||||||||||||||
Other noncurrent liabilities | — | 16,959 | 339,110 | — | 356,069 | ||||||||||||||||
Amounts due to affiliates | 2,189,625 | — | 410,590 | (2,600,215 | ) | — | |||||||||||||||
Total liabilities | 2,190,054 | 2,082,027 | 1,605,089 | (2,602,938 | ) | 3,274,232 | |||||||||||||||
Stockholders' equity (1) | 1,263,547 | 46,041 | 3,444,442 | (3,490,483 | ) | 1,263,547 | |||||||||||||||
Total liabilities and stockholders' equity | $ | 3,453,601 | $ | 2,128,068 | $ | 5,049,531 | $ | (6,093,421 | ) | $ | 4,537,779 | ||||||||||
Schedule Of Condensed Consolidating Statements Of Cash Flows | ' | ||||||||||||||||||||
Year ended April 30, 2013 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | 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. | ||||||||||||||||||||
Year ended April 30, 2012 | H&R Block, Inc. | Block Financial | Other | Eliminations | Consolidated | ||||||||||||||||
(Guarantor) | (Issuer) | Subsidiaries | H&R Block | ||||||||||||||||||
Net cash provided by operating activities: | $ | 33,046 | $ | 15,144 | $ | 313,859 | $ | — | $ | 362,049 | |||||||||||
Cash flows from investing: | |||||||||||||||||||||
Purchases of AFS securities | — | (256,173 | ) | — | — | (256,173 | ) | ||||||||||||||
Maturities and payments received on AFS securities | — | 63,291 | 3,091 | — | 66,382 | ||||||||||||||||
Mortgage loans held for investment, net | — | 49,142 | — | — | 49,142 | ||||||||||||||||
Capital expenditures | — | (153 | ) | (82,304 | ) | — | (82,457 | ) | |||||||||||||
Payments for business acquisitions, net | — | — | (15,258 | ) | — | (15,258 | ) | ||||||||||||||
Proceeds from sales of businesses, net | — | — | 560,499 | — | 560,499 | ||||||||||||||||
Franchise loans funded | — | (46,246 | ) | — | — | (46,246 | ) | ||||||||||||||
Payments received on franchise loans | — | 56,591 | — | — | 56,591 | ||||||||||||||||
Intercompany borrowings (payments) (1) | — | 55,721 | (344,000 | ) | 288,279 | — | |||||||||||||||
Other, net | — | 11,785 | 7,602 | — | 19,387 | ||||||||||||||||
Net cash provided by (used in) investing activities | — | (66,042 | ) | 129,630 | 288,279 | 351,867 | |||||||||||||||
Cash flows from financing: | |||||||||||||||||||||
Repayments of short-term borrowings | — | (664,167 | ) | — | — | (664,167 | ) | ||||||||||||||
Proceeds from short-term borrowings | — | 664,167 | — | — | 664,167 | ||||||||||||||||
Repayments of FHLB borrowings | — | (25,000 | ) | — | — | (25,000 | ) | ||||||||||||||
Customer banking deposits, net | — | (25,298 | ) | — | (793 | ) | (26,091 | ) | |||||||||||||
Dividends paid | (208,801 | ) | — | — | — | (208,801 | ) | ||||||||||||||
Repurchase of common stock | (180,592 | ) | — | — | — | (180,592 | ) | ||||||||||||||
Proceeds from exercise of stock options | 12,275 | — | — | — | 12,275 | ||||||||||||||||
Intercompany borrowings (payments) (1) | 344,000 | — | (55,721 | ) | (288,279 | ) | — | ||||||||||||||
Other, net | 72 | 105 | (17,030 | ) | — | (16,853 | ) | ||||||||||||||
Net cash provided by (used in) financing activities | (33,046 | ) | (50,193 | ) | (72,751 | ) | (289,072 | ) | (445,062 | ) | |||||||||||
Effects of exchange rate changes on cash | — | — | (2,364 | ) | — | (2,364 | ) | ||||||||||||||
Net increase (decrease) in cash | — | (101,091 | ) | 368,374 | (793 | ) | 266,490 | ||||||||||||||
Cash - beginning of the year | — | 616,238 | 1,061,656 | (50 | ) | 1,677,844 | |||||||||||||||
Cash - end of the year | $ | — | $ | 515,147 | $ | 1,430,030 | $ | (843 | ) | $ | 1,944,334 | ||||||||||
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Aug. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2012 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2012 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | |
Buildings | Computers And Other Equipment | Software [Member] | Leasehold Improvements | Maximum | Maximum | Maximum | Minimum | Emerald Advance lines of credit | Software Development [Member] | Software Development [Member] | |||||
Buildings | Computers And Other Equipment | Maximum | Minimum | ||||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Transaction Loss, before Tax | $18,200,000 | ' | $400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Transaction Gain, before Tax | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Revenue | ' | ' | 417,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Book overdrafts included in accounts payable | 38,300,000 | 35,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum funding by facility | ' | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' |
Mortgage loan's past due, in days | ' | ' | ' | ' | ' | ' | ' | ' | '180 days | ' | ' | '60 days | ' | ' | ' |
Period at which loans are classified as non-accrual (in days) | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life | ' | ' | ' | ' | '15 years | '3 years | '3 years | '8 years | ' | '40 years | '5 years | ' | ' | ' | ' |
Weighted-average life of intangible assets with finite lives (in years) | '24 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '3 years |
Refundable deposit from franchisees | 2,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contributions of continuing operations to 401(k) defined contribution plans | 11,800,000 | 11,300,000 | 12,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses related to severance benefits | 5,200,000 | 4,800,000 | 32,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | $48,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
HR_Block_Bank_Details
H&R Block Bank (Details) (USD $) | 12 Months Ended | ||
Apr. 30, 2014 | Apr. 30, 2012 | Apr. 30, 2013 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Liabilities of Disposal Group, Including Discontinued Operation | $745,000,000 | ' | ' |
Available-for-sale Securities | 427,824,000 | ' | 486,876,000 |
Other-than-temporary impairments of AFS securities | $12,400,000 | $12,400,000 | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income from continuing operations attributable to shareholders | $929,133 | ($212,751) | ($103,015) | ($113,270) | $688,922 | ($16,915) | ($101,199) | ($105,650) | $500,097 | $465,158 | $345,968 |
Amounts allocated to participating securities | ' | ' | ' | ' | ' | ' | ' | ' | -692 | -542 | -455 |
Net income from continuing operations attributable to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $499,405 | $464,616 | $345,513 |
Basic weighted average common shares (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 273,830,000 | 273,057,000 | 297,863,000 |
Potential dilutive shares | ' | ' | ' | ' | ' | ' | ' | ' | 2,197,000 | 1,302,000 | 738,000 |
Dilutive weighted average common shares | ' | ' | ' | ' | ' | ' | ' | ' | 276,027,000 | 274,359,000 | 298,601,000 |
Basic (in usd per share) | $3.38 | ($0.78) | ($0.38) | ($0.42) | $2.53 | ($0.06) | ($0.37) | ($0.38) | $1.82 | $1.70 | $1.16 |
Diluted (in usd per share) | $3.36 | ($0.78) | ($0.38) | ($0.42) | $2.51 | ($0.06) | ($0.37) | ($0.38) | $1.81 | $1.69 | $1.16 |
Antidilutive securities excluded from computation of earnings per share, amount | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 3,300,000 | 8,900,000 |
Receivables_Narrative_Details
Receivables (Narrative) (Details) (USD $) | 12 Months Ended | ||||||||||
Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2013 | |
Loans to franchisees | Loans to franchisees | Emerald Advance lines of credit | Emerald Advance lines of credit | Term Loans | Term Loans | Revolving Lines Of Credit | Revolving Lines Of Credit | CashBack Receivables | CashBack Receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-accrual status loans | ' | ' | ' | $20,700,000 | $30,000,000 | ' | ' | ' | ' | ' | ' |
Impaired non-accrual status term, days | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Receivables, net | ' | 154,463,000 | 168,460,000 | 24,439,000 | 33,037,000 | 109,100,000 | 121,200,000 | 45,400,000 | 47,300,000 | 48,812,000 | 47,658,000 |
Financing Receivable, Recorded Investment, Past Due | ' | 0 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,900,000 | $1,800,000 |
Receivables_Schedule_Of_ShortT
Receivables (Schedule Of Short-Term Receivables) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables, gross | $244,196 | $257,234 |
Allowance for doubtful accounts | -52,578 | -50,399 |
Receivables, net | 191,618 | 206,835 |
Loans to franchisees | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables, gross | 63,716 | 65,413 |
CashBack Receivables | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables, gross | 48,812 | 47,658 |
Receivables For Tax Preparation And Related Fees | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables, gross | 45,619 | 49,356 |
Emerald Advance lines of credit | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables, gross | 20,577 | 23,218 |
Royalties From Franchisees | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables, gross | 9,978 | 10,722 |
Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables, gross | $55,494 | $60,867 |
Receivables_Schedule_Of_Loans_
Receivables (Schedule Of Loans Receivable) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Emerald Advance lines of credit | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Short-term | $20,577 | $23,218 |
Long-term | 3,862 | 9,819 |
Receivables, net | 24,439 | 33,037 |
Loans to franchisees | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Short-term | 63,716 | 65,413 |
Long-term | 90,747 | 103,047 |
Receivables, net | 154,463 | 168,460 |
CashBack Receivables | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Short-term | 48,812 | 47,658 |
Long-term | 0 | 0 |
Receivables, net | $48,812 | $47,658 |
Receivables_Schedule_Of_Receiv
Receivables (Schedule Of Receivables Based On Year Of Origination) (Details) (Emerald Advance lines of credit, USD $) | Apr. 30, 2014 |
In Thousands, unless otherwise specified | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Receivables, Net | $24,439 |
Year Of Origination2014 [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Receivables, Net | 6,065 |
Year Of Origination2013 [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Receivables, Net | 1,890 |
Year Of Origination 2013 | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Receivables, Net | 4,677 |
Revolving Loans | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Receivables, Net | $11,807 |
Receivables_Schedule_Of_Activi
Receivables (Schedule Of Activity In The Allowance For Doubtful Accounts) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Allowance for Doubtful Accounts [Roll Forward] | ' | ' | ' |
Beginning balance | $57,703 | $44,589 | $47,943 |
Provision | 71,058 | 75,726 | 66,662 |
Charge-offs | -76,183 | -62,612 | -70,016 |
Ending balance | 52,578 | 57,703 | 44,589 |
Emerald Advance lines of credit | ' | ' | ' |
Allowance for Doubtful Accounts [Roll Forward] | ' | ' | ' |
Beginning balance | 7,390 | 6,200 | 4,400 |
Provision | 24,619 | 28,430 | 28,057 |
Charge-offs | -24,479 | -27,240 | -26,257 |
Ending balance | 7,530 | 7,390 | 6,200 |
Loans to franchisees | ' | ' | ' |
Allowance for Doubtful Accounts [Roll Forward] | ' | ' | ' |
Beginning balance | 0 | 0 | 0 |
Provision | 45 | 0 | 0 |
Charge-offs | -45 | 0 | 0 |
Ending balance | 0 | 0 | 0 |
CashBack Receivables | ' | ' | ' |
Allowance for Doubtful Accounts [Roll Forward] | ' | ' | ' |
Beginning balance | 2,769 | 2,279 | 3,892 |
Provision | 3,760 | 4,647 | 1,631 |
Charge-offs | -3,527 | -4,157 | -3,244 |
Ending balance | 3,002 | 2,769 | 2,279 |
All Other | ' | ' | ' |
Allowance for Doubtful Accounts [Roll Forward] | ' | ' | ' |
Beginning balance | 47,544 | 36,110 | 39,651 |
Provision | 42,634 | 42,649 | 36,974 |
Charge-offs | -48,132 | -31,215 | -40,515 |
Ending balance | $42,046 | $47,544 | $36,110 |
Mortgage_Loans_Held_For_Invest2
Mortgage Loans Held For Investment And Related Assets (Narrative) (Details) | 12 Months Ended |
Apr. 30, 2014 | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' |
Allowance as Percent of Principal | 4.10% |
Percentage of mortgage loan portfolio consisting of borrowers from Florida, California, New York, and Wisconsin | 51.00% |
Minimum Credit Score | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' |
Loan-to-value at origination in order to have internal risk rating of medium | 80.00% |
Minimum credit score to be given internal risk rating of low | 700 |
Maximum Credit Score | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' |
Loan-to-value at origination in order to have internal risk rating of medium | 80.00% |
Maximum credit score to be given internal risk rating of medium | 700 |
Maximum [Member] | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' |
Mortgage loan's past due, in days | '180 days |
Allowance for Credit Losses, Period at Which Collectively Evaluated for Impairment | '60 days |
Minimum [Member] | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' |
Mortgage loan's past due, in days | '60 days |
Allowance for Credit Losses, Period at Which Indivudally Evaluated for Impairment | '60 days |
Mortgage_Loans_Held_For_Invest3
Mortgage Loans Held For Investment And Related Assets (Schedule Of Mortgage Loan Portfolio) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2011 |
In Thousands, unless otherwise specified | ||||
Mortgage Loans Held For Investment And Related Assets [Abstract] | ' | ' | ' | ' |
Adjustable-rate loans | ($149,480) | ($191,093) | ' | ' |
Adjustable-rate loans, percent of total loans | 54.00% | 55.00% | ' | ' |
Fixed-rate loans | -127,943 | -159,142 | ' | ' |
Fixed-rate loans, percent of Total loans | 46.00% | 45.00% | ' | ' |
Total loans | 277,423 | 350,235 | ' | ' |
Total loans, percent of Total loans | 100.00% | 100.00% | ' | ' |
Unamortized deferred fees and costs | 2,277 | 2,868 | ' | ' |
Less: Allowance for loan losses | -11,272 | -14,314 | -26,540 | -92,087 |
Total | $268,428 | $338,789 | ' | ' |
Mortgage_Loans_Held_For_Invest4
Mortgage Loans Held For Investment And Related Assets (Schedule Of Allowance For Loan Losses) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Loans and Leases Rollforward [Roll Forward] | ' | ' | ' |
Balance as of the beginning of the year | $14,314 | $26,540 | $92,087 |
Provision | 8,271 | 13,283 | 24,075 |
Recoveries | 4,040 | 3,338 | 292 |
Charge-offs | -15,353 | -28,847 | -89,914 |
Balance as of the end of the year | $11,272 | $14,314 | $26,540 |
Mortgage_Loans_Held_For_Invest5
Mortgage Loans Held For Investment And Related Assets (Schedule Of Portfolio Balance And Related Allowance) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Portfolio Balance | $277,423 | $350,235 |
Related Allowance | 11,272 | 14,314 |
Pooled (less than 60 days past due) | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Portfolio Balance | 158,496 | 207,319 |
Related Allowance | 4,508 | 5,628 |
Individually (TDRs) | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Portfolio Balance | 43,865 | 55,061 |
Related Allowance | 4,346 | 4,924 |
Individually (60 days or more past due) | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Portfolio Balance | 75,062 | 87,855 |
Related Allowance | $2,418 | $3,762 |
Mortgage_Loans_Held_For_Invest6
Mortgage Loans Held For Investment And Related Assets (Schedule Of Mortgage Loans Held For Investment And The Related Allowance) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Outstanding Principal Balance | $277,423 | $350,235 |
Loan Loss Allowance, Amount | 11,272 | 14,314 |
Loan Loss Allowance, % of Principal | 4.10% | ' |
% 30 Days Past Due | 20.10% | ' |
Purchased From SCC | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Outstanding Principal Balance | 159,566 | ' |
Loan Loss Allowance, Amount | 8,655 | ' |
Loan Loss Allowance, % of Principal | 5.40% | ' |
% 30 Days Past Due | 27.10% | ' |
All Other | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Outstanding Principal Balance | 117,857 | ' |
Loan Loss Allowance, Amount | $2,617 | ' |
Loan Loss Allowance, % of Principal | 2.20% | ' |
% 30 Days Past Due | 7.50% | ' |
Mortgage_Loans_Held_For_Invest7
Mortgage Loans Held For Investment And Related Assets (Schedule Of Credit Quality Indicators) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | $277,423 | $350,235 |
Occupancy Status, Owner Occupied | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 195,029 | ' |
Occupancy Status, Non-Owner Occupied | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 82,394 | ' |
Documentation Level, Full Documentation | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 136,852 | ' |
Documentation Level, Limited Documentation | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 17,868 | ' |
Documentation Level, Stated Income | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 101,282 | ' |
Documentation Level, No Documentation | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 21,421 | ' |
Internal Risk Rating, High | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 45,688 | ' |
Internal Risk Rating, Medium | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 113,878 | ' |
Internal Risk Rating, Low | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 117,857 | ' |
Purchased From SCC | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 159,566 | ' |
Purchased From SCC | Occupancy Status, Owner Occupied | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 117,457 | ' |
Purchased From SCC | Occupancy Status, Non-Owner Occupied | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 42,109 | ' |
Purchased From SCC | Documentation Level, Full Documentation | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 53,019 | ' |
Purchased From SCC | Documentation Level, Limited Documentation | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 4,897 | ' |
Purchased From SCC | Documentation Level, Stated Income | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 88,207 | ' |
Purchased From SCC | Documentation Level, No Documentation | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 13,443 | ' |
Purchased From SCC | Internal Risk Rating, High | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 45,688 | ' |
Purchased From SCC | Internal Risk Rating, Medium | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 113,878 | ' |
Purchased From SCC | Internal Risk Rating, Low | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | ' | ' |
All Other | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 117,857 | ' |
All Other | Occupancy Status, Owner Occupied | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 77,572 | ' |
All Other | Occupancy Status, Non-Owner Occupied | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 40,285 | ' |
All Other | Documentation Level, Full Documentation | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 83,833 | ' |
All Other | Documentation Level, Limited Documentation | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 12,971 | ' |
All Other | Documentation Level, Stated Income | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 13,075 | ' |
All Other | Documentation Level, No Documentation | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | 7,978 | ' |
All Other | Internal Risk Rating, High | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | ' | ' |
All Other | Internal Risk Rating, Medium | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | ' | ' |
All Other | Internal Risk Rating, Low | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Total Portfolio | $117,857 | ' |
Mortgage_Loans_Held_For_Invest8
Mortgage Loans Held For Investment And Related Assets (Schedule Of Past Due Mortgage Loans) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 | |
In Thousands, unless otherwise specified | |||
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | $277,423 | $350,235 | |
Purchased From SCC | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 159,566 | ' | |
All Other | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 117,857 | ' | |
Less than 60 Days Past Due | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 17,473 | ' | |
Less than 60 Days Past Due | Purchased From SCC | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 12,052 | ' | |
Less than 60 Days Past Due | All Other | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 5,421 | ' | |
60 b 89 Days Past Due | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 3,470 | ' | |
60 b 89 Days Past Due | Purchased From SCC | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 2,623 | ' | |
60 b 89 Days Past Due | All Other | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 847 | ' | |
90 Days Past Due | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 57,882 | [1] | ' |
90 Days Past Due | Purchased From SCC | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 49,431 | [1] | ' |
90 Days Past Due | All Other | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 8,451 | [1] | ' |
Total Past Due | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 78,825 | ' | |
Total Past Due | Purchased From SCC | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 64,106 | ' | |
Total Past Due | All Other | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 14,719 | ' | |
Current | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 198,598 | ' | |
Current | Purchased From SCC | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | 95,460 | ' | |
Current | All Other | ' | ' | |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | |
Total Portfolio | $103,138 | ' | |
[1] | We do not accrue interest on loans past due 90 days or more. |
Mortgage_Loans_Held_For_Invest9
Mortgage Loans Held For Investment And Related Assets (Schedule Of Non-Accrual Loans) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Loans receivable recorded investment non-accrual status | $74,295 | $85,233 |
Financing receivable modifications to recorded investments | 5,599 | 4,221 |
Total non-accrual loans | 79,894 | 89,454 |
Purchased From SCC | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Loans receivable recorded investment non-accrual status | 61,767 | 70,327 |
Financing receivable modifications to recorded investments | 4,648 | 3,719 |
All Other | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Loans receivable recorded investment non-accrual status | 12,528 | 14,906 |
Financing receivable modifications to recorded investments | $951 | $502 |
Recovered_Sheet1
Mortgage Loans Held For Investment And Related Assets (Information Related To Impaired Loans) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Impaired Loans Balance | $118,927 | $142,916 |
Related Allowance | 6,764 | 8,686 |
Purchased From SCC | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Impaired Loans Balance | 98,999 | 118,383 |
Related Allowance | 3,239 | 6,573 |
All Other | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Impaired Loans Balance | 19,928 | 24,533 |
Related Allowance | 3,525 | 2,113 |
Balance With Allowance | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Impaired Loans Balance | 33,100 | 41,392 |
Balance With Allowance | Purchased From SCC | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Impaired Loans Balance | 27,924 | 33,791 |
Balance With Allowance | All Other | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Impaired Loans Balance | 5,176 | 7,601 |
Balance With No Allowance | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Impaired Loans Balance | 85,827 | 101,524 |
Balance With No Allowance | Purchased From SCC | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Impaired Loans Balance | 71,075 | 84,592 |
Balance With No Allowance | All Other | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' |
Impaired Loans Balance | $14,752 | $16,932 |
Recovered_Sheet2
Mortgage Loans Held For Investment And Related Assets (Schedule Of Allowance For Impaired Loans) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Mortgage Loans Held For Investment And Related Assets [Abstract] | ' | ' |
Based on collateral value method | $2,418 | $3,762 |
Based on discounted cash flow method | 4,346 | 4,924 |
Total allowance for loans | $6,764 | $8,686 |
Recovered_Sheet3
Mortgage Loans Held For Investment And Related Assets (Information Related To Activities Of Non-Performing Assets) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | ' |
Average impaired loans | $116,480 | $159,361 | $245,807 |
Purchased From SCC | ' | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | ' |
Average impaired loans | 93,873 | 133,936 | 211,867 |
All Other | ' | ' | ' |
Mortgage Loans Held For Investment And Related Assets [Line Items] | ' | ' | ' |
Average impaired loans | $22,607 | $25,425 | $33,940 |
Investments_Narrative_Details
Investments (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2012 | Apr. 30, 2013 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' |
Other-than-temporary impairments of AFS securities | $12.40 | $12.40 | ' |
Held-to-maturity Securities | ' | ' | $1.90 |
Investments_Amortized_Cost_And
Investments (Amortized Cost And Fair Value Of Securities Available-For-Sale) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Investments in available-for-sale securities, Amortized Cost | $424,817 | $480,628 |
Available For Sale Securities, Gross Unrealized Gain, Accumulated In Investments | -3,007 | -6,912 |
Available For Sale Securities, Gross Unrealized Loss, Accumulated In Investments | 0 | -664 |
Investments in available-for-sale securities, Fair Value | 427,824 | 486,876 |
Short-Term | Mortgage-Backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Investments in available-for-sale securities, Amortized Cost | 420,697 | 476,450 |
Available For Sale Securities, Gross Unrealized Gain, Accumulated In Investments | -2,798 | -6,592 |
Available For Sale Securities, Gross Unrealized Loss, Accumulated In Investments | 0 | -664 |
Investments in available-for-sale securities, Fair Value | 423,495 | 482,378 |
Long-Term | Municipal Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Investments in available-for-sale securities, Amortized Cost | 4,120 | 4,178 |
Available For Sale Securities, Gross Unrealized Gain, Accumulated In Investments | -209 | -320 |
Available For Sale Securities, Gross Unrealized Loss, Accumulated In Investments | 0 | 0 |
Investments in available-for-sale securities, Fair Value | $4,329 | $4,498 |
Property_And_Equipment_Narrati
Property And Equipment (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Depreciation, Nonproduction | $84.70 | $68.20 | $61.40 |
Property_And_Equipment_Compone
Property And Equipment (Components Of Property And Equipment) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' |
Document Fiscal Year Focus | '2014 | ' |
Property and equipment net | $304,911 | $267,880 |
Buildings | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment net | 100,034 | 108,265 |
Computers And Other Equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment net | 139,290 | 112,203 |
Leasehold Improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment net | 51,197 | 38,771 |
Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment net | 9,997 | 4,660 |
Land And Other Non-Depreciable Assets | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment net | 1,866 | 1,887 |
Construction In Process | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment net | $2,527 | $2,094 |
Goodwill_And_Intangible_Assets2
Goodwill And Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | ||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | |
Goodwill and Intangible Assets [Line Items] | ' | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Finite-lived Intangible Assets Acquired | $30,300,000 | ' | ' |
Amortization | 30,900,000 | 24,200,000 | 27,800,000 |
Number of offices closed | ' | ' | 200 |
Impairment of goodwill | 0 | 0 | 7,409,000 |
Estimated amortization, 2014 | 39,200,000 | ' | ' |
Estimated amortization, 2015 | 32,400,000 | ' | ' |
Estimated amortization, 2016 | 27,000,000 | ' | ' |
Estimated amortization, 2017 | 23,700,000 | ' | ' |
Estimated amortization, 2018 | 20,700,000 | ' | ' |
ExpressTax Brand | ' | ' | ' |
Goodwill and Intangible Assets [Line Items] | ' | ' | ' |
Impairment of goodwill | ' | ' | 7,400,000 |
Impairment of intangible assets | ' | ' | 4,000,000 |
Customer Relationships | Red Gear | ' | ' | ' |
Goodwill and Intangible Assets [Line Items] | ' | ' | ' |
Impairment of intangible assets | ' | $3,600,000 | ' |
Goodwill_And_Intangible_Assets3
Goodwill And Intangible Assets (Schedule Of Goodwill) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Goodwill [Roll Forward] | ' | ' | ' |
Goodwill before impairment losses, beginning balance | $467,079 | $459,863 | ' |
Accumulated impairment losses, beginning balance | -32,297 | -32,297 | ' |
Goodwill, beginning balance | 434,782 | 427,566 | ' |
Acquisitions | 3,086 | 7,625 | ' |
Disposals and foreign currency changes, net | -1,751 | -409 | ' |
Impairments | 0 | 0 | -7,409 |
Goodwill before impairment losses, ending balance | 468,414 | 467,079 | 459,863 |
Accumulated impairment losses, ending balance | -32,297 | -32,297 | -32,297 |
Goodwill, ending balance | $436,117 | $434,782 | $427,566 |
Goodwill_And_Intangible_Assets4
Goodwill And Intangible Assets (Schedule Of Intangible Assets) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 |
Goodwill and Intangible Assets [Line Items] | ' | ' |
Document Fiscal Year Focus | '2014 | ' |
Gross Carrying Amount | $557,116 | $464,153 |
Accumulated Amortization | -201,494 | -179,714 |
Net | 355,622 | 284,439 |
Tax Services | ' | ' |
Goodwill and Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 101,162 | 91,745 |
Accumulated Amortization | -72,598 | -72,764 |
Net | 28,564 | 18,981 |
Tax Services | Reacquired Franchise Rights | ' | ' |
Goodwill and Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 233,749 | 214,330 |
Accumulated Amortization | -26,136 | -18,204 |
Net | 207,613 | 196,126 |
Tax Services | Customer Relationships | ' | ' |
Goodwill and Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 123,110 | 100,719 |
Accumulated Amortization | -59,521 | -48,733 |
Net | 63,589 | 51,986 |
Tax Services | Noncompete Agreements | ' | ' |
Goodwill and Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 24,694 | 23,058 |
Accumulated Amortization | -22,223 | -21,728 |
Net | 2,471 | 1,330 |
Tax Services | Franchise Agreements | ' | ' |
Goodwill and Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 19,201 | 19,201 |
Accumulated Amortization | -6,934 | -5,654 |
Net | 12,267 | 13,547 |
Tax Services | Purchased Technology | ' | ' |
Goodwill and Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 54,900 | 14,800 |
Accumulated Amortization | -13,782 | -12,331 |
Net | 41,118 | 2,469 |
Tax Services | Trade Name | ' | ' |
Goodwill and Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 300 | 300 |
Accumulated Amortization | -300 | -300 |
Net | $0 | $0 |
Other_Noncurrent_Assets_And_Li
Other Noncurrent Assets And Liabilities (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Millions, unless otherwise specified | ||
Other Noncurrent Assets And Liabilities [Abstract] | ' | ' |
Obligation under deferred compensation plans | $38.10 | $42.50 |
Customer_Banking_Deposits_Comp
Customer Banking Deposits (Components Of Banking Deposits) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Short-term [Abstract] | ' | ' | ' |
Money-market deposits, Outstanding Balance | $24,870 | $188,939 | ' |
Savings deposits, Outstanding Balance | 7,611 | 18,608 | ' |
Interest-bearing checking deposits, Outstanding Balance | 189 | 1,941 | ' |
Non-interest-bearing checking deposits, Outstanding Balance | 429,992 | 391,654 | ' |
Checking deposits, Outstanding Balance | 430,181 | 393,595 | ' |
Due in one year, Outstanding Balance | 3,054 | 18,529 | ' |
IRAs, Outstanding Balance | 304,069 | 316,793 | ' |
IRAs and other time deposits, Outstanding Balance | 307,123 | 335,322 | ' |
Deposits, total | 769,785 | 936,464 | ' |
Money-market deposits, Interest Expense | 1,228 | 1,827 | ' |
Savings deposits, Interest Expense | 66 | 138 | ' |
Interest-bearing checking deposits, Interest Expense | 7 | 21 | ' |
Checking deposits, Interest Expense | 7 | 21 | ' |
IRAs and other time deposits, Interest Expense | 808 | 3,674 | ' |
Interest Expense, Deposits, total | 2,109 | 5,660 | 6,735 |
Long-term [Abstract] | ' | ' | ' |
Due in two years | 166 | 1,436 | ' |
Due in three years | 7 | 106 | ' |
Due in four years | 315 | 13 | ' |
Due in five years | 15 | 312 | ' |
Long-term deposits | $503 | $1,867 | ' |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Aug. 31, 2012 | Apr. 30, 2014 | Oct. 25, 2012 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Apr. 30, 2014 | |
Senior Notes, 5.500%, Due November 2022 | Senior Notes, 5.500%, Due November 2022 | Fiscal Quarter Ending April Thirty, July Thirty One, and October Thirty One [Member] | Fiscal Quarter Ending January Thirty One [Member] | Senior Notes, 7.875%, Due January 2013 | Senior Notes, 5.125%, Due October 2014 | Senior Notes 6 3/4% Due In November 2004 | Maximum | Maximum | Maximum | Minimum | Minimum | Minimum | FHLB | |||||
LIBOR | PRIME | LIBOR | PRIME | |||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | $906,474,000 | $906,680,000 | ' | ' | ' | $500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | 5.50% | ' | ' | ' | ' | ' | ' | 1.45% | 0.45% | ' | 0.75% | 0.00% | ' |
Proceeds from Issuance of Long-term Debt | 0 | 497,185,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes, maturity date | 1-Jun-12 | ' | ' | ' | ' | ' | ' | ' | 15-Jan-13 | 30-Oct-14 | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum funding by facility | ' | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes, issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes, interest rate | ' | ' | ' | ' | 5.50% | ' | ' | ' | 7.88% | 5.13% | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility repayment, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.75% | ' | ' | ' | ' | ' | ' | ' |
Capital lease obligation, due over the next 9 years | 8,980,000 | 9,702,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of annual facility fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.30% | ' | ' | 0.13% | ' | ' | ' |
Threshold of Debt to EBITDA Ratio | ' | ' | ' | ' | ' | ' | 3.5 | 3.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Coverage Ratio | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to retire debt in 2013 | 400,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to retire debt in 2014 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to retire debt in 2015 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to retire debt in 2016 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to retire debt in 2017 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to retire debt beyond 2017 | 502,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of advanced capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 190,600,000 |
Available-for-sale securities eligible to serve as collateral | $203,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Components_Of_Lo
Long-Term Debt (Components Of Long-Term Debt) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | Oct. 25, 2012 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2013 |
Senior Notes, 5.500%, Due November 2022 | Senior Notes, 5.500%, Due November 2022 | Senior Notes, 7.875%, Due January 2013 | Senior Notes, 5.125%, Due October 2014 | Senior Notes, 5.125%, Due October 2014 | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Senior Notes | $497,612 | $497,330 | ' | ' | ' | $399,882 | $399,648 |
Capital lease obligation, due over the next 9 years | 8,980 | 9,702 | ' | ' | ' | ' | ' |
Total long term debt | 906,474 | 906,680 | ' | 500,000 | ' | ' | ' |
Less: Current portion | -400,637 | -722 | ' | ' | ' | ' | ' |
Long-term debt | $505,837 | $905,958 | ' | ' | ' | ' | ' |
Senior Notes, interest rate | ' | ' | 5.50% | ' | 7.88% | 5.13% | ' |
Senior Notes, maturity date | 1-Jun-12 | ' | ' | ' | 15-Jan-13 | 30-Oct-14 | ' |
Fair_Value_Measurement_Assets_
Fair Value Measurement (Assets Remeasured At Fair Value On Non-Recurring Basis) (Details) (Non-Recurring, USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loss, Impaired mortgage loans held for investment | ($3,739) | ($10,663) |
Total | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired mortgage loans held for investment | 69,131 | 84,708 |
As a percentage of total assets | 1.50% | 1.90% |
Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired mortgage loans held for investment | 0 | 0 |
As a percentage of total assets | 0.00% | 0.00% |
Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired mortgage loans held for investment | 0 | 0 |
As a percentage of total assets | 0.00% | 0.00% |
Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired mortgage loans held for investment | $69,131 | $84,708 |
As a percentage of total assets | 1.50% | 1.90% |
Fair_Value_Measurement_Quantit
Fair Value Measurement (Quantitative Information About Level 3 Fair Value Measurements) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Apr. 30, 2014 |
Market Approach Valuation Technique [Member] | Minimum | Real Estate Owned [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Cost to list/sell | 5.00% |
Loss severity | 0.00% |
Market Approach Valuation Technique [Member] | Maximum | Real Estate Owned [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Cost to list/sell | 57.00% |
Loss severity | 100.00% |
Market Approach Valuation Technique [Member] | Weighted Average | Real Estate Owned [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Cost to list/sell | 6.00% |
Loss severity | 49.00% |
Collateral-Based | Impaired Mortgage Loans Held For Investment - Non TDRs | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Time to sell (in months) | '24 years |
Collateral-Based | Impaired Mortgage Loans Held For Investment - TDRs | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair value | 39,519 |
Collateral-Based | Minimum | Impaired Mortgage Loans Held For Investment - Non TDRs | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Cost to list/sell | 0.00% |
Loss severity | 0.00% |
Collateral depreciation | -166.00% |
Collateral-Based | Maximum | Impaired Mortgage Loans Held For Investment - Non TDRs | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Cost to list/sell | 185.00% |
Loss severity | 100.00% |
Collateral depreciation | 100.00% |
Collateral-Based | Weighted Average | Impaired Mortgage Loans Held For Investment - Non TDRs | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Cost to list/sell | 9.00% |
Loss severity | 64.00% |
Time to sell (in months) | '24 months |
Collateral depreciation | 50.00% |
Discounted Cash Flow | Impaired Mortgage Loans Held For Investment - Non TDRs | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair value | 72,644 |
Discounted Cash Flow | Minimum | Impaired Mortgage Loans Held For Investment - TDRs | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Loss severity | 0.00% |
Aged default performance | 24.00% |
Discounted Cash Flow | Maximum | Impaired Mortgage Loans Held For Investment - TDRs | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Loss severity | 22.00% |
Aged default performance | 39.00% |
Discounted Cash Flow | Weighted Average | Impaired Mortgage Loans Held For Investment - TDRs | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Loss severity | 6.00% |
Aged default performance | 32.00% |
Fair_Value_Measurement_Fair_Va
Fair Value Measurement Fair Value Of Financial Instruments (Summary Of Carrying Amounts And Estimated Fair Values Of Company's Financial Instruments) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2011 |
In Thousands, unless otherwise specified | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, Carrying Amount | $2,185,307 | $1,747,584 | $1,944,334 | $1,677,844 |
Cash and cash equivalents, Estimated Fair Value | 2,185,307 | 1,747,584 | ' | ' |
Cash and cash equivalents - restricted, Carrying Amount | 115,319 | 117,837 | ' | ' |
Cash and cash equivalents - restricted, Estimated Fair Value | 115,319 | 117,837 | ' | ' |
Receivables, net - short-term, Carrying Amount | 191,618 | 206,835 | ' | ' |
Receivables, net - short-term, Estimated Fair Value | 191,618 | 206,810 | ' | ' |
Mortgage loans held for investment, less allowance for loan losses of $11,272 and $14,314 | 268,428 | 338,789 | ' | ' |
Mortgage loans held for investment, net, Estimated Fair Value | 192,281 | 210,858 | ' | ' |
Investments in available-for-sale securities, Carrying Amount | 4,329 | 486,876 | ' | ' |
Investments in available-for-sale securities, Estimated Fair Value | 427,824 | 486,876 | ' | ' |
Receivables, net - long-term, Carrying Amount | 104,678 | 125,048 | ' | ' |
Receivables, net - long-term, Estimated Fair Value | 104,678 | 134,283 | ' | ' |
Deposits, Carrying Amount | 770,288 | 938,331 | ' | ' |
Deposits, Estimated Fair Value | 765,376 | 934,019 | ' | ' |
Long-term borrowings, Carrying Amount | 906,474 | 906,680 | ' | ' |
Long-term borrowings, Estimated Fair Value | 955,050 | 964,630 | ' | ' |
Contingent acquisition liabilities, Carrying Amount | 9,206 | 11,277 | ' | ' |
Cusiness Combination, Contingent Consideration, at Fair Value | $9,206 | $11,277 | ' | ' |
Stockholders_Equity_Narrative_
Stockholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Stockholders' Equity Note [Abstract] | ' | ' | ' |
Shares repurchased and retired (in shares) | 0 | 21,259,000 | 14,554,000 |
Share repurchase and retired, value | $0 | $315,000 | $199,989 |
Treasury stock retired | 60,000,000 | ' | ' |
Stockholders_Equity_Rollforwar
Stockholders' Equity Rollforward of OCI (Details) (USD $) | 12 Months Ended | |||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2011 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Marketable Securities, Realized Gain (Loss) | ($18,300,000) | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | 3,334,000 | 6,809,000 | 8,569,000 | 10,755,000 |
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 1,843,000 | 3,741,000 | 3,576,000 | 478,000 |
Accumulated other comprehensive income | 5,177,000 | 10,550,000 | 12,145,000 | 11,233,000 |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | -822,000 | -1,481,000 | 1,884,000 | ' |
Other Comprehensive Income (Loss), Before Reclassifications, Tax | 846,000 | 10,000 | 878,000 | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -1,668,000 | -1,491,000 | 1,006,000 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax | 0 | 0 | 0 | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | -5,835,000 | -175,000 | -152,000 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Tax | 0 | 0 | 0 | ' |
Tax effect of reclassification adjustment for gains included in income | 2,130,000 | 71,000 | 58,000 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax | 0 | 0 | 0 | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | -3,705,000 | -104,000 | -94,000 | ' |
Unrealized translation gain | -3,475,000 | -1,760,000 | -2,186,000 | ' |
Change in net unrealized gain on available-for-sale securities | -1,898,000 | 165,000 | 3,098,000 | ' |
Other comprehensive income (loss) | -5,373,000 | -1,595,000 | 912,000 | ' |
Other-than-temporary impairments of AFS securities | 12,400,000 | ' | 12,400,000 | ' |
Accumulated Translation Adjustment [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | -3,416,000 | -1,979,000 | -3,429,000 | ' |
Other Comprehensive Income (Loss), Before Reclassifications, Tax | 59,000 | -219,000 | -1,243,000 | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -3,475,000 | -1,760,000 | -2,186,000 | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 2,594,000 | 498,000 | 5,313,000 | ' |
Other Comprehensive Income (Loss), Before Reclassifications, Tax | 787,000 | 229,000 | 2,121,000 | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | $1,807,000 | $269,000 | $3,192,000 | ' |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Tax benefit of stock-based compensation | $7.60 | $5.80 | $5.40 |
Stock-based compensation expenses | 20.1 | 15.3 | 14.2 |
Realized tax benefits | 10.6 | 5 | 4.4 |
Shares reserved for future awards under stock-based compensation plans | 10.5 | ' | ' |
Stock Options | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Intrinsic value of options exercised | 13.6 | 6 | 1 |
Unrecognized compensation cost | 1 | ' | ' |
Weighted-average period of recognition (years) | '1 year | ' | ' |
Nonvested Shares | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Fair value of shares vesting during period | 8.6 | 7.2 | 11.9 |
Unrecognized compensation cost | 23.5 | ' | ' |
Weighted-average period of recognition (years) | '2 years | ' | ' |
Nonvested Shares And Performance Nonvested [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Fair value of shares vesting during period | ' | $0 | $0 |
2003 Long-Term Executive Compensation Plan | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Vesting period (in years), minimum | '3 years | ' | ' |
Minimum [Member] | 2003 Long-Term Executive Compensation Plan | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Vesting period (in years), minimum | '3 years | ' | ' |
Maximum [Member] | 2003 Long-Term Executive Compensation Plan | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Vesting period (in years), minimum | '4 years | ' | ' |
StockBased_Compensation_Summar
Stock-Based Compensation (Summary Of Stock Options) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Apr. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Shares, Outstanding, beginning of the year | 4,504 |
Shares, Granted | 35 |
Shares, Exercised | -1,179 |
Shares, Forfeited or expired | -237 |
Shares, Outstanding, end of the year | 3,123 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Weighted-Average Exercise Price, Outstanding, beginning of the year (in usd per share) | $17.53 |
Weighted-Average Exercise Price, Granted (in usd per share) | $28.26 |
Weighted-Average Exercise Price, Exercised (in usd per share) | $18.15 |
Weighted-Average Exercise Price, Forfeited or expired (in usd per share) | $18.56 |
Weighted-Average Exercise Price, Outstanding, end of the year (in usd per share) | $17.34 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' |
Shares, Exercisable, end of the year | 2,317 |
Shares, Exercisable and expected to vest | 3,076 |
Weighted-Average Exercise Price, Exercisable, end of the year | $17.50 |
Weighted-Average Exercise Price, Exercisable and expected to vest | $17.33 |
Weighted-Average Remaining Contractual Term, Outstanding, end of the year | '6 years |
Weighted-Average Remaining Contractual Term, Exercisable, end of the year | '6 years |
Weighted-Average Remaining Contractual Term, Exercisable and expected to vest, years | '6 years |
Aggregate Intrinsic Value, Outstanding, end of the year | $34,655 |
Aggregate Intrinsic Value, Exercisable, end of the year | 25,344 |
Aggregate Intrinsic Value, Exercisable and expected to vest | $34,150 |
StockBased_Compensation_Assump
Stock-Based Compensation (Assumptions Used To Value Options) (Details) (USD $) | 12 Months Ended | ||||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ||
Expected term, years | '3 years | '3 years | '3 years | ||
Dividend yield | ' | 0.00% | [1] | ' | |
Espp [Member] | ' | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ||
Expected volatility, minimum | 22.32% | 24.27% | ' | ||
Expected volatility, maximum | 27.39% | 33.07% | ' | ||
Dividend yield, minimum | 4.20% | 3.68% | ' | ||
Dividend yield, maximum | 5.00% | 4.93% | ' | ||
Risk-free interest rate, minimum | 0.11% | 0.06% | ' | ||
Risk-free interest rate, maximum | 0.15% | 0.10% | ' | ||
Stock Options For Management And Director [Member] | ' | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ||
Expected volatility, minimum | 30.89% | 29.69% | 31.75% | ||
Expected volatility, maximum | 31.57% | 31.43% | 32.34% | ||
Expected term, years | ' | '5 years | ' | ||
Dividend yield, minimum | 2.77% | 4.18% | 3.43% | ||
Dividend yield, maximum | 2.87% | 5.21% | 4.80% | ||
Risk-free interest rate, minimum | 1.06% | 0.61% | 0.79% | ||
Risk-free interest rate, maximum | 1.31% | 0.75% | 1.95% | ||
Weighted-average fair value | 5.57 | 2.79 | 3.31 | ||
Performance Nonvested Share Units [Member] | ' | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ||
Expected volatility, minimum | 11.75% | 12.61% | 20.68% | ||
Expected volatility, maximum | 70.17% | 71.96% | 143.12% | ||
Dividend yield, minimum | 0.00% | [1] | 0.00% | [1] | ' |
Dividend yield, maximum | 2.88% | [1] | 5.01% | [1] | ' |
Risk-free interest rate | 0.61% | 0.40% | 0.75% | ||
Weighted-average fair value | 28.59 | 16.72 | 17.46 | ||
Minimum [Member] | Stock Options For Management And Director [Member] | ' | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ||
Expected term, years | ' | '4 years | '5 years | ||
Maximum [Member] | Stock Options For Management And Director [Member] | ' | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ||
Expected term, years | '4 years | '5 years | '5 years | ||
[1] | The valuation model assumes that dividends are reinvested by the Company on a continuous basis. |
StockBased_Compensation_Summar1
Stock-Based Compensation (Summary Of Nonvested Shares) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Apr. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Shares, Outstanding, beginning of the year | 1,806 |
Shares, Granted | 488 |
Shares, Released | -578 |
Shares, Forfeited | -149 |
Shares, Outstanding, end of the year | 1,567 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' |
Weighted-Average Grant Date Fair Value, Outstanding, beginning of the year (in usd per share) | $14.64 |
Weighted-Average Grant Date Fair Value, Granted (in usd per share) | $27.69 |
Weighted-Average Grant Date Fair Value, Released (in usd per share) | $14.89 |
Weighted-Average Grant Date Fair Value, Forfeited (in usd per share) | $17.74 |
Weighted-Average Grant Date Fair Value, Outstanding, end of the year (in usd per share) | $18.23 |
Nonvested Shares And Performance Nonvested [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Shares, Outstanding, beginning of the year | 658 |
Shares, Granted | 390 |
Shares, Released | 0 |
Shares, Forfeited | -82 |
Shares, Outstanding, end of the year | 966 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' |
Weighted-Average Grant Date Fair Value, Outstanding, beginning of the year (in usd per share) | $16.89 |
Weighted-Average Grant Date Fair Value, Granted (in usd per share) | $28.59 |
Weighted-Average Grant Date Fair Value, Released (in usd per share) | $0 |
Weighted-Average Grant Date Fair Value, Forfeited (in usd per share) | $21.82 |
Weighted-Average Grant Date Fair Value, Outstanding, end of the year (in usd per share) | $20.98 |
StockBased_Compensation_Summar2
Stock-Based Compensation (Summary Of Nonvested Share And Performance-Based Nonvested Share Units) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Apr. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Shares, Outstanding, beginning of the year | 1,806 |
Shares, Granted | 488 |
Shares, Released | -578 |
Shares, Forfeited | -149 |
Shares, Outstanding, end of the year | 1,567 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Weighted-Average Grant Date Fair Value, Outstanding, beginning of the year (in usd per share) | $14.64 |
Weighted-Average Grant Date Fair Value, Granted (in usd per share) | $27.69 |
Weighted-Average Grant Date Fair Value, Released (in usd per share) | $14.89 |
Weighted-Average Grant Date Fair Value, Forfeited (in usd per share) | $17.74 |
Weighted-Average Grant Date Fair Value, Outstanding, end of the year (in usd per share) | $18.23 |
Nonvested Shares And Performance Nonvested [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Shares, Outstanding, beginning of the year | 658 |
Shares, Granted | 390 |
Shares, Released | 0 |
Shares, Forfeited | -82 |
Shares, Outstanding, end of the year | 966 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Weighted-Average Grant Date Fair Value, Outstanding, beginning of the year (in usd per share) | $16.89 |
Weighted-Average Grant Date Fair Value, Granted (in usd per share) | $28.59 |
Weighted-Average Grant Date Fair Value, Released (in usd per share) | $0 |
Weighted-Average Grant Date Fair Value, Forfeited (in usd per share) | $21.82 |
Weighted-Average Grant Date Fair Value, Outstanding, end of the year (in usd per share) | $20.98 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2011 | |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss from discontinued operations, net of tax benefits of $15,422, $19,662 and $74,944 | $19,135,000 | $1,960,000 | $1,928,000 | $1,917,000 | $24,582,000 | $793,000 | $4,044,000 | $1,791,000 | $24,940,000 | $31,210,000 | $80,036,000 | ' |
Discontinued Operation, Tax Effect of Operations of Discontinued Operation | ' | ' | ' | ' | ' | ' | ' | ' | 15,422,000 | 19,662,000 | 74,944,000 | ' |
Deferred tax asset | 219,355,000 | ' | ' | ' | 229,332,000 | ' | ' | ' | 219,355,000 | 229,332,000 | ' | ' |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | ' | ' | ' | ' | ' | ' | ' | ' | 9,207,000 | 1,549,000 | 1,461,000 | ' |
Unrecognized tax benefit | 111,491,000 | ' | ' | ' | 146,391,000 | ' | ' | ' | 111,491,000 | 146,391,000 | 206,393,000 | 154,848,000 |
Unrecognized tax benefits that would impact effective tax rate | 73,700,000 | ' | ' | ' | 95,300,000 | ' | ' | ' | 73,700,000 | 95,300,000 | 150,400,000 | ' |
Effect of anticipated settlements of audit issues and expiring statutes of limitations | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' |
Total gross interest and penalties accrued | 24,600,000 | ' | ' | ' | 31,700,000 | ' | ' | ' | 24,600,000 | 31,700,000 | 38,600,000 | ' |
Valuation allowance | 19,200,000 | ' | ' | ' | 54,600,000 | ' | ' | ' | 19,200,000 | 54,600,000 | ' | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | ' | ' | ' | ' | ' | ' | ' | ' | 35,400,000 | ' | ' | ' |
Statutory federal tax rate | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | 35.00% | 35.00% | ' |
Settlement reducing uncertain tax benefits | ' | ' | ' | ' | ' | ' | ' | ' | -23,993,000 | -25,259,000 | -8,742,000 | ' |
Income Taxes Receivable | ' | ' | ' | ' | 151,300,000 | ' | ' | ' | ' | 151,300,000 | ' | ' |
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' |
Ameriprise | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax asset | ' | ' | ' | ' | 45,800,000 | ' | ' | ' | ' | 45,800,000 | ' | ' |
State And Local Jurisdiction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax asset | 21,400,000 | ' | ' | ' | ' | ' | ' | ' | 21,400,000 | ' | ' | ' |
Valuation allowance | 15,100,000 | ' | ' | ' | ' | ' | ' | ' | 15,100,000 | ' | ' | ' |
Settlement reducing uncertain tax benefits | ' | ' | ' | ' | ' | ' | ' | ' | -6,692,000 | ' | ' | ' |
Internal Revenue Service (IRS) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement reducing uncertain tax benefits | ' | ' | ' | ' | ' | ' | ' | ' | ($17,301,000) | ' | ' | ' |
Income_Taxes_Schedule_Of_Compo
Income Taxes (Schedule Of Components Of Income From Continuing Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Domestic | ' | ' | ' | ' | ' | ' | ' | ' | $754,036 | $664,966 | $547,535 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 13,080 | 37,045 | 28,535 |
Income from continuing operations before income taxes | $1,478,797 | ($347,825) | ($179,362) | ($184,494) | $1,129,836 | ($96,268) | ($162,288) | ($169,269) | $767,116 | $702,011 | $576,070 |
Income_Taxes_Schedule_Of_Compo1
Income Taxes (Schedule Of Components Of Income Tax Expense (Benefit) For Continuing Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal, Current | ' | ' | ' | ' | ' | ' | ' | ' | $195,277 | $219,411 | $126,773 |
State, Current | ' | ' | ' | ' | ' | ' | ' | ' | 33,274 | 43,116 | 21,285 |
Foreign, Current | ' | ' | ' | ' | ' | ' | ' | ' | 6,749 | 3,173 | 8,647 |
Current income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 235,300 | 265,700 | 156,705 |
Federal, Deferred | ' | ' | ' | ' | ' | ' | ' | ' | 28,624 | -29,258 | 55,032 |
State, Deferred | ' | ' | ' | ' | ' | ' | ' | ' | 5,475 | -69 | 18,154 |
Foreign, Deferred | ' | ' | ' | ' | ' | ' | ' | ' | -2,380 | 480 | 211 |
Deferred taxes | ' | ' | ' | ' | ' | ' | ' | ' | 31,719 | -28,847 | 73,397 |
Total income taxes for continuing operations | $549,664 | ($135,074) | ($76,347) | ($71,224) | $440,914 | ($79,353) | ($61,089) | ($63,619) | $267,019 | $236,853 | $230,102 |
Income_Taxes_Schedule_Of_Recon
Income Taxes (Schedule Of Reconciliation Between Income Tax Provision And Statutory Federal Tax Rate) (Details) | 12 Months Ended | ||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. statutory tax rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal income tax benefit | 3.80% | 4.00% | 4.20% |
Permanent differences | 0.10% | -0.10% | 0.50% |
Uncertain tax positions | -5.60% | -4.10% | -0.60% |
Change in valuation allowance | 1.50% | -1.00% | 0.20% |
Other | 0.00% | -0.10% | 0.60% |
Effective tax rate | 34.80% | 33.70% | 39.90% |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Accrued expenses | $34,052 | $15,842 |
Allowance for credit losses and related reserves | 115,145 | 114,570 |
Capital loss carryover | 0 | 45,826 |
Valuation allowance | -10,837 | -28,088 |
Current | 138,360 | 148,150 |
Deferred and stock-based compensation | 21,348 | 20,758 |
Deferred revenue | 8,090 | 30,225 |
Net operating loss carry-forward | 21,434 | 20,070 |
Federal tax benefits related to state unrecognized tax benefits | 28,601 | 30,374 |
Capital loss carryover | 0 | 2,379 |
Other | 9,861 | 3,901 |
Valuation allowance | -8,339 | -26,525 |
Noncurrent | 80,995 | 81,182 |
Deferred tax asset | 219,355 | 229,332 |
Prepaid expenses | -3,033 | -2,830 |
Current | -3,033 | -2,830 |
Property and equipment | -28,610 | -25,794 |
Mortgage-related investment | -15,441 | -20,033 |
Intangibles | -59,881 | -36,565 |
Noncurrent | -103,932 | -82,392 |
Net deferred tax assets | $112,390 | $144,110 |
Income_Taxes_Schedule_Of_Recon1
Income Taxes (Schedule Of Reconciliation Of Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Unrecognized Tax Benefits [Roll Forward] | ' | ' | ' |
Balance, beginning of the year | $146,391 | $206,393 | $154,848 |
Additions based on tax positions related to prior years | 9,743 | 11,867 | 26,523 |
Reductions based on tax positions related to prior years | -25,403 | -49,493 | -3,858 |
Additions based on tax positions related to the current year | 7,399 | 2,314 | 42,735 |
Reductions related to settlements with tax authorities | -23,993 | -25,259 | -8,742 |
Expiration of statute of limitations | -11,853 | -702 | -2,814 |
Reductions related to foreign currency translation | 0 | -278 | -838 |
Reductions related to other | -9,207 | -1,549 | -1,461 |
Balance, end of the year | $111,491 | $146,391 | $206,393 |
Interest_Income_And_Interest_E2
Interest Income And Interest Expense (Schedule Of Interest Income And Expense Of Continuing Operations) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Interest income: | ' | ' | ' |
Emerald Advance lines of credit | $56,877 | $59,657 | $59,660 |
Mortgage loans, net | 13,810 | 16,556 | 20,322 |
Loans to franchisees | 9,494 | 10,023 | 10,234 |
AFS securities | 9,664 | 7,000 | 4,463 |
Other | 8,249 | 5,593 | 5,121 |
Total interest income | 98,094 | 98,829 | 99,800 |
Interest expense: | ' | ' | ' |
Borrowings | 55,279 | 74,297 | 84,782 |
Deposits | 2,109 | 5,660 | 6,735 |
Interest expense | 57,388 | 79,957 | 92,089 |
Interest Expense, Federal Home Loan Bank and Federal Reserve Bank Advances, Short-term | $0 | $0 | $572 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | 72 Months Ended | ||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2014 | |
Commitments And Contingencies [Line Items] | ' | ' | ' | ' |
Additional tax assessment limit per client | $5,500 | ' | ' | $5,500 |
Standard guarantee accrual amount | 11,400,000 | 18,000,000 | ' | 11,400,000 |
Contingent acquisition liabilities, Carrying Amount | 9,206,000 | 11,277,000 | ' | 9,206,000 |
Lines of credit, total obligation | 90,600,000 | ' | ' | 90,600,000 |
Remaining franchise equity lines of credit-undrawn commitment | 45,300,000 | ' | ' | 45,300,000 |
Obligation under deferred compensation plans | 38,100,000 | 42,500,000 | ' | 38,100,000 |
Financing Receivables, Line of Credit Facility, Compensating Balances | 215,300,000 | ' | ' | 215,300,000 |
Claims received for loans | ' | ' | ' | 2,100,000,000 |
Rent expense | $203,300,000 | $201,000,000 | $218,300,000 | ' |
Minimum [Member] | ' | ' | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' | ' | ' |
Term of operating leases, years | '3 years | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' | ' | ' |
Term of operating leases, years | '5 years | ' | ' | ' |
Commitments_And_Contingencies_2
Commitments And Contingencies (Schedule Of Deferred Revenue Related To The Peace Of Mind Program) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 |
Movement in Deferred Revenue [Roll Forward] | ' | ' |
Balance, beginning of the year | $146,286 | $141,080 |
Amounts deferred for new guarantees issued | 88,636 | 76,561 |
Revenue recognized on previous deferrals | -89,685 | -71,355 |
Balance, end of the year | $145,237 | $146,286 |
Commitments_And_Contingencies_3
Commitments And Contingencies (Future Minimum Operating Lease Commitments) (Details) (USD $) | Apr. 30, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $183,701 |
2015 | 119,377 |
2016 | 70,447 |
2017 | 33,047 |
2018 | 11,892 |
2020 and beyond | 5,166 |
Total | $423,630 |
Litigation_And_Related_Conting1
Litigation And Related Contingencies (Details) (USD $) | 12 Months Ended | 35 Months Ended | |
Apr. 30, 2014 | Nov. 30, 2007 | Apr. 30, 2013 | |
lawsuit | |||
Loss Contingencies [Line Items] | ' | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Accrued obligations under indemnifications | $23,700,000 | ' | $11,900,000 |
Number of loans sold to the trust | 159 | ' | ' |
Number Of Lawsuits | 18 | ' | ' |
Securitization Transactions | ' | 38 | ' |
Pending Litigation [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Initial principal on loans securitized | 50,000,000 | ' | ' |
Principal outstanding on loans securitized | 36,000,000 | ' | ' |
SCC [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Original Principal Amount of Loans Securitized | 14,000,000,000 | ' | ' |
Estimated Litigation Liability | $4,000,000,000 | ' | ' |
Loss_Contingencies_Arising_Fro2
Loss Contingencies Arising From Representations And Warranties of Our Discontinued Mortgage Operations Loss Contingencies Arising From Representations and Warranties of Our Discontinued Mortgage Operations (Narrative) (Details) (USD $) | 12 Months Ended | 35 Months Ended | 36 Months Ended | 72 Months Ended | 12 Months Ended | 12 Months Ended | |||
Apr. 30, 2014 | Nov. 30, 2007 | Apr. 30, 2007 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2011 | Apr. 30, 2014 | |
SCC [Member] | SCC [Member] | SCC [Member] | SCC [Member] | Leasehold Improvements [Member] | |||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securitization Transactions | ' | 38 | ' | ' | ' | ' | ' | ' | ' |
Percentage of fraud on originated loans | ' | ' | 68.00% | ' | ' | ' | ' | ' | ' |
Claims received for loans | ' | ' | ' | $2,100,000,000 | $70,300,000 | $190,000,000 | $1,100,000,000 | ' | ' |
Incremental provision | ' | ' | ' | ' | 25,000,000 | 40,000,000 | 20,000,000 | ' | ' |
Increase In Losses Due To Assumed One Percent Increase In Validity Rates And Loss Severities | 16,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | '8 years |
Loss Contingency Accrual, at Carrying Value | ' | ' | ' | ' | 183,765,000 | 158,765,000 | 130,018,000 | 126,260,000 | ' |
Principal Assets of SCC | $520,000,000 | ' | ' | $520,000,000 | ' | ' | ' | ' | ' |
Loss_Contingencies_Arising_Fro3
Loss Contingencies Arising From Representations And Warranties of Our Discontinued Mortgage Operations Loss Contingencies Arising From Representations And Warranties of Our Discontinued Mortgage Operations (Contingency Rollforward) (Details) (SCC [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
SCC [Member] | ' | ' | ' |
Loss Contingency Accrual [Roll Forward] | ' | ' | ' |
Balance, beginning of the year | $158,765 | $130,018 | $126,260 |
Provisions | 25,000 | 40,000 | 20,000 |
Payments | 0 | -11,253 | -16,242 |
Balance, end of the year | $183,765 | $158,765 | $130,018 |
Regulatory_Capital_Requirement2
Regulatory Capital Requirements Of HRB Bank (Narrative) (Details) (USD $) | 12 Months Ended | ||||||||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Apr. 30, 2011 | |||
Assets Sold under Agreements to Repurchase [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||
Stockholders' Equity Attributable to Parent | $1,556,549,000 | $1,263,547,000 | $1,325,892,000 | ' | ' | ' | $1,449,574,000 | ||
Leverage ratio | 0.413 | ' | ' | ' | ' | ' | ' | ||
Total risk-based capital ratio, well capitalized | ' | ' | ' | 10.00% | [1] | 10.00% | [1] | 10.00% | ' |
Tier 1 Risk-based capital ratio | ' | ' | ' | 6.00% | [2] | 6.00% | [2] | 6.00% | ' |
Tier 1 Risk-based leverage ratio | ' | ' | ' | 5.00% | [3] | 5.00% | [3] | 5.00% | ' |
Minimum leverage capital per calendar quarter | 12.00% | ' | ' | ' | ' | ' | ' | ||
Capital Contribution For Capital Adequacy | ' | ' | 400,000,000 | ' | ' | ' | ' | ||
Dividend and return of capital | ' | 400,000,000 | ' | ' | ' | ' | ' | ||
HRB Bank [Member] | ' | ' | ' | ' | ' | ' | ' | ||
Assets Sold under Agreements to Repurchase [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||
Stockholders' Equity Attributable to Parent | $585,000,000 | ' | ' | ' | ' | ' | ' | ||
[1] | Total risk-based capital divided by risk-weighted assets. | ||||||||
[2] | Tier 1 (core) capital less deduction for low-level recourse and residual interest divided by risk-weighted assets. | ||||||||
[3] | Tier 1 (core) capital divided by adjusted total assets. |
Regulatory_Capital_Requirement3
Regulatory Capital Requirements Of HRB Bank (HRB Bank's Regulatory Capital Requirements) (Details) (USD $) | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Apr. 05, 2012 | Mar. 31, 2012 | ||
Banking and Thrift [Abstract] | ' | ' | ' | ' | ' | ||
Total risk-based capital ratio, Amount | ' | $563,899 | [1] | $506,734 | [1] | ' | ' |
Total risk-based capital ratio | ' | 168.50% | [1] | 131.60% | [1] | ' | ' |
Total risk-based capital ratio, Minimum Capital Requirement, Amount | ' | 26,771 | [1] | 30,806 | [1] | ' | ' |
Total risk-based capital ratio, Minimum Capital Requirement, Ratio | ' | 8.00% | [1] | 8.00% | [1] | ' | ' |
Total risk-based capital ratio, Minimum to be Well Capitalized, Amount | ' | 33,464 | [1] | 38,508 | [1] | ' | ' |
Total risk-based capital ratio, Minimum to be Well Capitalized, Ratio | ' | 10.00% | [1] | 10.00% | [1] | ' | 10.00% |
Tier 1 risk-based capital ratio, Amount | ' | 559,572 | [2] | 501,731 | [2] | ' | ' |
Tier 1 risk-based capital ratio | ' | 167.20% | [2] | 130.30% | [2] | ' | ' |
Tier 1 risk-based capital ratio, Minimum to be Well Capitalized, Amount | ' | 20,079 | [2] | 23,105 | [2] | ' | ' |
Tier 1 risk-based capital ratio, Minimum to be Well Capitalized, Ratio | ' | 6.00% | [2] | 6.00% | [2] | ' | 6.00% |
Tier 1 capital ratio (leverage), Amount | ' | 559,572 | [3] | 501,731 | [3] | ' | ' |
Tier 1 capital ratio (leverage) | ' | 32.10% | [3] | 25.50% | [3] | ' | ' |
Tier 1 capital ratio (leverage), Minimum Capital Requirement, Amount | ' | 209,041 | [3] | 236,315 | [3] | ' | ' |
Tier 1 capital ratio (leverage), Minimum Capital Requirement, Ratio | ' | 12.00% | [3],[4] | 12.00% | [3],[4] | 4.00% | ' |
Tier 1 capital ratio (leverage), Minimum to be Well Capitalized, Amount | ' | 87,101 | [3] | 98,464 | [3] | ' | ' |
Tier 1 capital ratio (leverage), Minimum to be Well Capitalized, Ratio | ' | 5.00% | [3] | 5.00% | [3] | ' | 5.00% |
Tangible equity ratio, Amount | ' | 559,572 | [5] | 501,731 | [5] | ' | ' |
Tangible equity ratio | ' | 32.10% | [5] | 25.50% | [5] | ' | ' |
Tangible equity ratio, Minimum Capital Requirement, Amount | ' | $26,130 | [5] | $29,539 | [5] | ' | ' |
Tangible equity ratio, Minimum Capital Requirement, Ratio | ' | 1.50% | [5] | 1.50% | [5] | ' | ' |
Minimum leverage capital per calendar quarter | 12.00% | ' | ' | ' | ' | ||
[1] | Total risk-based capital divided by risk-weighted assets. | ||||||
[2] | Tier 1 (core) capital less deduction for low-level recourse and residual interest divided by risk-weighted assets. | ||||||
[3] | Tier 1 (core) capital divided by adjusted total assets. | ||||||
[4] | Effective AprilB 5, 2012, the minimum capital requirement was changed to 4% by the OCC, although HRB Bank plans to maintain a minimum of 12.0% leverage capital at the end of each calendar quarter. | ||||||
[5] | Tangible capital divided by tangible assets. |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | $2,562,990 | $199,770 | $134,340 | $127,195 | $2,200,212 | $471,979 | $137,263 | $96,489 | $3,024,295 | $2,905,943 | $2,893,771 |
Assets | 4,693,529 | ' | ' | ' | 4,537,779 | ' | ' | ' | 4,693,529 | 4,537,779 | 4,649,567 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 232,200 | 249,000 | 232,800 |
Assets | $303,900 | ' | ' | ' | $472,600 | ' | ' | ' | $303,900 | $472,600 | $201,800 |
Segment_Information_Continuing
Segment Information (Continuing Operations By Reportable Operating Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | $2,562,990 | $199,770 | $134,340 | $127,195 | $2,200,212 | $471,979 | $137,263 | $96,489 | $3,024,295 | $2,905,943 | $2,893,771 |
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES | 1,478,797 | -347,825 | -179,362 | -184,494 | 1,129,836 | -96,268 | -162,288 | -169,269 | 767,116 | 702,011 | 576,070 |
IDENTIFIABLE ASSETS | 4,693,529 | ' | ' | ' | 4,537,779 | ' | ' | ' | 4,693,529 | 4,537,779 | 4,649,567 |
Tax Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,999,460 | 2,877,967 | 2,862,378 |
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES | ' | ' | ' | ' | ' | ' | ' | ' | 866,367 | 821,143 | 704,002 |
IDENTIFIABLE ASSETS | 2,945,242 | ' | ' | ' | 3,012,525 | ' | ' | ' | 2,945,242 | 3,012,525 | 2,298,484 |
Corporate And Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 24,835 | 27,976 | 31,393 |
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES | ' | ' | ' | ' | ' | ' | ' | ' | -99,251 | -119,132 | -127,932 |
Corporate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
IDENTIFIABLE ASSETS | $1,748,287 | ' | ' | ' | $1,525,254 | ' | ' | ' | $1,748,287 | $1,525,254 | $2,351,083 |
Quarterly_Financial_Data_Summa
Quarterly Financial Data (Summary Of Quarterly Financial Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $2,562,990 | $199,770 | $134,340 | $127,195 | $2,200,212 | $471,979 | $137,263 | $96,489 | $3,024,295 | $2,905,943 | $2,893,771 |
Income (loss) from continuing operations before taxes (benefit) | 1,478,797 | -347,825 | -179,362 | -184,494 | 1,129,836 | -96,268 | -162,288 | -169,269 | 767,116 | 702,011 | 576,070 |
Income taxes (benefit) | 549,664 | -135,074 | -76,347 | -71,224 | 440,914 | -79,353 | -61,089 | -63,619 | 267,019 | 236,853 | 230,102 |
Net income (loss) from continuing operations | 929,133 | -212,751 | -103,015 | -113,270 | 688,922 | -16,915 | -101,199 | -105,650 | 500,097 | 465,158 | 345,968 |
Net loss from discontinued operations, net of tax benefits of $15,422, $19,662 and $74,944 | -19,135 | -1,960 | -1,928 | -1,917 | -24,582 | -793 | -4,044 | -1,791 | -24,940 | -31,210 | -80,036 |
NET INCOME | 909,998 | -214,711 | -104,943 | -115,187 | 664,340 | -17,708 | -105,243 | -107,441 | 475,157 | 433,948 | 265,932 |
Continuing operations (in usd per share | $3.38 | ($0.78) | ($0.38) | ($0.42) | $2.53 | ($0.06) | ($0.37) | ($0.38) | $1.82 | $1.70 | $1.16 |
Discontinued operations (in usd per share) | ($0.07) | $0 | ($0.01) | $0 | ($0.09) | ($0.01) | ($0.02) | ($0.01) | ($0.09) | ($0.11) | ($0.27) |
Consolidated (in usd per share) | $3.31 | ($0.78) | ($0.39) | ($0.42) | $2.44 | ($0.07) | ($0.39) | ($0.39) | $1.73 | $1.59 | $0.89 |
Continuing operations (in usd per share) | $3.36 | ($0.78) | ($0.38) | ($0.42) | $2.51 | ($0.06) | ($0.37) | ($0.38) | $1.81 | $1.69 | $1.16 |
Discontinued operations (in usd per share) | ($0.07) | $0 | ($0.01) | $0 | ($0.09) | ($0.01) | ($0.02) | ($0.01) | ($0.09) | ($0.11) | ($0.27) |
Consolidated (in usd per share) | $3.29 | ($0.78) | ($0.39) | ($0.42) | $2.42 | ($0.07) | ($0.39) | ($0.39) | $1.72 | $1.58 | $0.89 |
Goodwill impairments | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $7,409 |
Quarterly_Financial_Data_Sched
Quarterly Financial Data (Schedule Of Share Price And Dividends Paid) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends paid per share | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.80 | $0.80 |
High | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock price range | $32.42 | $30.53 | $32.09 | $31.75 | $29.68 | $23.19 | $18.04 | $16.88 | $32.42 | $29.68 |
Low | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock price range | $26.92 | $27.13 | $25.98 | $27.24 | $22.77 | $17.26 | $15.53 | $14.35 | $25.98 | $14.35 |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidating Income Statements) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | $2,562,990 | $199,770 | $134,340 | $127,195 | $2,200,212 | $471,979 | $137,263 | $96,489 | $3,024,295 | $2,905,943 | $2,893,771 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,627,656 | 1,604,788 | 1,701,695 |
Goodwill, Impairment Loss | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 7,409 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 633,428 | 604,469 | 618,375 |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,261,084 | 2,209,257 | 2,327,479 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 763,211 | 696,686 | 566,292 |
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | 3,905 | 5,325 | 9,778 |
Income from continuing operations before income taxes | 1,478,797 | -347,825 | -179,362 | -184,494 | 1,129,836 | -96,268 | -162,288 | -169,269 | 767,116 | 702,011 | 576,070 |
Income taxes (benefit) | 549,664 | -135,074 | -76,347 | -71,224 | 440,914 | -79,353 | -61,089 | -63,619 | 267,019 | 236,853 | 230,102 |
Net income (loss) from continuing operations | 929,133 | -212,751 | -103,015 | -113,270 | 688,922 | -16,915 | -101,199 | -105,650 | 500,097 | 465,158 | 345,968 |
Net loss from discontinued operations, net of tax benefits of $15,422, $19,662 and $74,944 | -19,135 | -1,960 | -1,928 | -1,917 | -24,582 | -793 | -4,044 | -1,791 | -24,940 | -31,210 | -80,036 |
NET INCOME | 909,998 | -214,711 | -104,943 | -115,187 | 664,340 | -17,708 | -105,243 | -107,441 | 475,157 | 433,948 | 265,932 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -5,373 | -1,595 | 912 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 469,784 | 432,353 | 266,844 |
H&R Block, Inc. (Guarantor) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Impairment Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | 478,866 | 433,948 | 265,932 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 478,866 | 433,948 | 265,932 |
Income taxes (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 3,709 | 0 | ' |
Net income (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 475,157 | 433,948 | 265,932 |
Net loss from discontinued operations, net of tax benefits of $15,422, $19,662 and $74,944 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
NET INCOME | ' | ' | ' | ' | ' | ' | ' | ' | 475,157 | 433,948 | 265,932 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -5,373 | -1,595 | 912 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 469,784 | 432,353 | 266,844 |
Block Financial (Issuer) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 235,075 | 230,982 | 234,925 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 179,779 | 193,400 | 221,988 |
Goodwill, Impairment Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 22,505 | 42,530 | 24,730 |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 202,284 | 235,930 | 246,718 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 32,791 | -4,948 | -11,793 |
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | 8,037 | -1,164 | 8,686 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 40,828 | -6,112 | -3,107 |
Income taxes (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 10,551 | -29,221 | -1,191 |
Net income (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 30,277 | 23,109 | -1,916 |
Net loss from discontinued operations, net of tax benefits of $15,422, $19,662 and $74,944 | ' | ' | ' | ' | ' | ' | ' | ' | -23,771 | -31,954 | -40,172 |
NET INCOME | ' | ' | ' | ' | ' | ' | ' | ' | 6,506 | -8,845 | -42,088 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -2,012 | 189 | 3,085 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 4,494 | -8,656 | -39,003 |
Other Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,795,562 | 2,681,987 | 2,666,267 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,454,219 | 1,417,824 | 1,487,128 |
Goodwill, Impairment Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,409 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 610,923 | 562,529 | 593,645 |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,065,142 | 1,980,353 | 2,088,182 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 730,420 | 701,634 | 578,085 |
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | -13,942 | 6,489 | 1,092 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 716,478 | 708,123 | 579,177 |
Income taxes (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 252,759 | 266,074 | 231,293 |
Net income (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 463,719 | 442,049 | 347,884 |
Net loss from discontinued operations, net of tax benefits of $15,422, $19,662 and $74,944 | ' | ' | ' | ' | ' | ' | ' | ' | -1,169 | 744 | -39,864 |
NET INCOME | ' | ' | ' | ' | ' | ' | ' | ' | 462,550 | 442,793 | 308,020 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -5,373 | -1,784 | -2,173 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 457,177 | 441,009 | 305,847 |
Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | -6,342 | -7,026 | -7,421 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | -6,342 | -6,436 | -7,421 |
Goodwill, Impairment Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | -590 | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | -6,342 | -7,026 | -7,421 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | -469,056 | -433,948 | -265,932 |
Income from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -469,056 | -433,948 | -265,932 |
Income taxes (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | -469,056 | -433,948 | -265,932 |
Net loss from discontinued operations, net of tax benefits of $15,422, $19,662 and $74,944 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -469,056 | -433,948 | -265,932 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 7,385 | 1,595 | -912 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($461,671) | ($432,353) | ($266,844) |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidating Balance Sheets) (Details) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2011 |
In Thousands, unless otherwise specified | ||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $2,185,307 | $1,747,584 | $1,944,334 | $1,677,844 |
Cash & cash equivalents - restricted | 115,319 | 117,837 | ' | ' |
Receivables, net | 191,618 | 206,835 | ' | ' |
Prepaid expenses and other current assets | 198,267 | 390,087 | ' | ' |
Available-for-sale Securities, Current | 423,495 | ' | ' | ' |
Assets, Current | 3,114,006 | 2,462,343 | ' | ' |
Mortgage loans held for investment, net | 268,428 | 338,789 | ' | ' |
Available-for-sale Securities | 427,824 | 486,876 | ' | ' |
Available-for-sale Securities | 4,329 | 486,876 | ' | ' |
Property and equipment, at cost less accumulated depreciation and amortization of $446,049 and $420,318 | 304,911 | 267,880 | ' | ' |
Intangible assets, net | 355,622 | 284,439 | ' | ' |
Goodwill | 436,117 | 434,782 | 427,566 | ' |
Investments in subsidiaries (1) | ' | ' | ' | ' |
Due from Affiliates | 0 | 0 | ' | ' |
Other assets | 210,116 | 262,670 | ' | ' |
Total assets | 4,693,529 | 4,537,779 | 4,649,567 | ' |
Customer banking deposits | 769,785 | 936,464 | ' | ' |
Accounts Payable and Accrued Liabilities, Current | 569,007 | 523,921 | ' | ' |
Accrued Salaries, Current | 167,032 | 134,970 | ' | ' |
Accrued Income Taxes | 406,655 | 416,128 | ' | ' |
Long-term Debt, Current Maturities | 400,637 | 722 | ' | ' |
Liabilities, Current | 2,313,116 | 2,012,205 | ' | ' |
Other noncurrent liabilities | 505,837 | 905,958 | ' | ' |
Other noncurrent liabilities | 318,027 | 356,069 | ' | ' |
Total liabilities | ' | ' | ' | ' |
Liabilities | 3,136,980 | 3,274,232 | ' | ' |
Common stock, no par, stated value $.01 per share, 800,000,000 shares authorized, shares issued of 316,628,110 | 3,166 | 3,166 | ' | ' |
Accumulated other comprehensive income | 5,177 | 10,550 | 12,145 | 11,233 |
Retained earnings | 1,589,297 | 1,333,445 | ' | ' |
Treasury Stock, Value | 807,745 | 836,097 | ' | ' |
Stockholders' Equity Attributable to Parent | 1,556,549 | 1,263,547 | 1,325,892 | 1,449,574 |
Total liabilities and stockholders' equity | 4,693,529 | 4,537,779 | ' | ' |
H&R Block, Inc. (Guarantor) | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Cash & cash equivalents - restricted | ' | ' | ' | ' |
Receivables, net | ' | 769 | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' |
Available-for-sale Securities, Current | ' | ' | ' | ' |
Assets, Current | ' | 769 | ' | ' |
Mortgage loans held for investment, net | ' | ' | ' | ' |
Available-for-sale Securities | ' | ' | ' | ' |
Available-for-sale Securities | ' | ' | ' | ' |
Property and equipment, at cost less accumulated depreciation and amortization of $446,049 and $420,318 | ' | ' | ' | ' |
Intangible assets, net | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' |
Investments in subsidiaries (1) | 904,331 | 3,444,442 | ' | ' |
Due from Affiliates | 642,101 | 0 | ' | ' |
Other assets | 11,271 | 8,390 | ' | ' |
Total assets | 1,557,703 | 3,453,601 | ' | ' |
Customer banking deposits | ' | ' | ' | ' |
Accounts Payable and Accrued Liabilities, Current | 757 | 429 | ' | ' |
Accrued Salaries, Current | ' | ' | ' | ' |
Accrued Income Taxes | ' | ' | ' | ' |
Long-term Debt, Current Maturities | ' | 0 | ' | ' |
Liabilities, Current | 757 | 429 | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' |
Total liabilities | 397 | 2,189,625 | ' | ' |
Liabilities | 1,154 | 2,190,054 | ' | ' |
Stockholders' Equity Attributable to Parent | 1,556,549 | 1,263,547 | ' | ' |
Total liabilities and stockholders' equity | 1,557,703 | 3,453,601 | ' | ' |
Block Financial (Issuer) | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 612,376 | 558,110 | 515,147 | 616,238 |
Cash & cash equivalents - restricted | 67,463 | 75,096 | ' | ' |
Receivables, net | 89,975 | 99,844 | ' | ' |
Prepaid expenses and other current assets | 10,202 | 17,915 | ' | ' |
Available-for-sale Securities, Current | 423,495 | ' | ' | ' |
Assets, Current | 1,203,511 | 750,965 | ' | ' |
Mortgage loans held for investment, net | 268,428 | 338,789 | ' | ' |
Available-for-sale Securities | ' | 482,378 | ' | ' |
Available-for-sale Securities | ' | ' | ' | ' |
Property and equipment, at cost less accumulated depreciation and amortization of $446,049 and $420,318 | 121 | 877 | ' | ' |
Intangible assets, net | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' |
Investments in subsidiaries (1) | ' | ' | ' | ' |
Due from Affiliates | 386,818 | 410,590 | ' | ' |
Other assets | 173,168 | 144,469 | ' | ' |
Total assets | 2,032,046 | 2,128,068 | ' | ' |
Customer banking deposits | 770,885 | 939,187 | ' | ' |
Accounts Payable and Accrued Liabilities, Current | 223,677 | 191,133 | ' | ' |
Accrued Salaries, Current | 2,190 | 1,225 | ' | ' |
Accrued Income Taxes | 71,132 | 36,545 | ' | ' |
Long-term Debt, Current Maturities | 399,882 | ' | ' | ' |
Liabilities, Current | 1,467,766 | 1,168,090 | ' | ' |
Other noncurrent liabilities | 497,612 | 896,978 | ' | ' |
Other noncurrent liabilities | 5,766 | 16,959 | ' | ' |
Total liabilities | ' | ' | ' | ' |
Liabilities | 1,971,144 | 2,082,027 | ' | ' |
Stockholders' Equity Attributable to Parent | 60,902 | 46,041 | ' | ' |
Total liabilities and stockholders' equity | 2,032,046 | 2,128,068 | ' | ' |
Other Subsidiaries | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 1,574,031 | 1,192,197 | 1,430,030 | 1,061,656 |
Cash & cash equivalents - restricted | 47,856 | 42,741 | ' | ' |
Receivables, net | 101,643 | 106,222 | ' | ' |
Prepaid expenses and other current assets | 188,065 | 372,172 | ' | ' |
Available-for-sale Securities, Current | ' | ' | ' | ' |
Assets, Current | 1,911,595 | 1,713,332 | ' | ' |
Mortgage loans held for investment, net | ' | ' | ' | ' |
Available-for-sale Securities | ' | 4,498 | ' | ' |
Available-for-sale Securities | 4,329 | ' | ' | ' |
Property and equipment, at cost less accumulated depreciation and amortization of $446,049 and $420,318 | 304,790 | 267,003 | ' | ' |
Intangible assets, net | 355,622 | 284,439 | ' | ' |
Goodwill | 436,117 | 434,782 | ' | ' |
Investments in subsidiaries (1) | 60,902 | 46,041 | ' | ' |
Due from Affiliates | 397 | 2,189,625 | ' | ' |
Other assets | 25,677 | 109,811 | ' | ' |
Total assets | 3,099,429 | 5,049,531 | ' | ' |
Customer banking deposits | ' | ' | ' | ' |
Accounts Payable and Accrued Liabilities, Current | 344,573 | 332,359 | ' | ' |
Accrued Salaries, Current | 164,842 | 133,745 | ' | ' |
Accrued Income Taxes | 335,523 | 379,583 | ' | ' |
Long-term Debt, Current Maturities | 755 | 722 | ' | ' |
Liabilities, Current | 845,693 | 846,409 | ' | ' |
Other noncurrent liabilities | 8,225 | 8,980 | ' | ' |
Other noncurrent liabilities | 312,261 | 339,110 | ' | ' |
Total liabilities | 1,028,919 | 410,590 | ' | ' |
Liabilities | 2,195,098 | 1,605,089 | ' | ' |
Stockholders' Equity Attributable to Parent | 904,331 | 3,444,442 | ' | ' |
Total liabilities and stockholders' equity | 3,099,429 | 5,049,531 | ' | ' |
Eliminations | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | -1,100 | -2,723 | -843 | -50 |
Cash & cash equivalents - restricted | ' | ' | ' | ' |
Receivables, net | ' | ' | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' |
Available-for-sale Securities, Current | ' | ' | ' | ' |
Assets, Current | -1,100 | -2,723 | ' | ' |
Mortgage loans held for investment, net | ' | ' | ' | ' |
Available-for-sale Securities | ' | ' | ' | ' |
Available-for-sale Securities | ' | ' | ' | ' |
Property and equipment, at cost less accumulated depreciation and amortization of $446,049 and $420,318 | ' | ' | ' | ' |
Intangible assets, net | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' |
Investments in subsidiaries (1) | -965,233 | -3,490,483 | ' | ' |
Due from Affiliates | -1,029,316 | -2,600,215 | ' | ' |
Other assets | ' | ' | ' | ' |
Total assets | -1,995,649 | -6,093,421 | ' | ' |
Customer banking deposits | -1,100 | -2,723 | ' | ' |
Accounts Payable and Accrued Liabilities, Current | ' | ' | ' | ' |
Accrued Salaries, Current | ' | ' | ' | ' |
Accrued Income Taxes | ' | ' | ' | ' |
Long-term Debt, Current Maturities | ' | ' | ' | ' |
Liabilities, Current | -1,100 | -2,723 | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' |
Total liabilities | -1,029,316 | -2,600,215 | ' | ' |
Liabilities | -1,030,416 | -2,602,938 | ' | ' |
Stockholders' Equity Attributable to Parent | -965,233 | -3,490,483 | ' | ' |
Total liabilities and stockholders' equity | ($1,995,649) | ($6,093,421) | ' | ' |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidating Statements Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used in) operating activities: | $809,581 | $497,108 | $362,049 |
Purchases of AFS securities | -45,158 | -227,177 | -256,173 |
Sales, maturities and payments received on AFS securities | 107,101 | 118,411 | 66,382 |
Mortgage loans held for investment, net | 46,664 | 44,031 | 49,142 |
Capital expenditures | -147,011 | -113,239 | -82,457 |
Payments for business acquisitions, net | -68,428 | -20,742 | -15,258 |
Proceeds from sales of businesses, net | 942 | 3,785 | 560,499 |
Proceeds from Collection of Notes Receivable | 64,865 | 0 | 0 |
Franchise loans funded | -63,960 | -70,807 | -46,246 |
Payments received on franchise loans | 87,220 | 83,445 | 56,591 |
Surrender of company-owned life insurance policies | 0 | 81,125 | 0 |
Intercompany advances (payments) (1) | ' | ' | ' |
Other, net | 28,455 | -9,769 | 19,387 |
Net cash provided by (used in) investing activities | 10,690 | -110,937 | 351,867 |
Repayments of commercial paper and other short-term borrowings | -316,000 | -1,214,238 | -664,167 |
Proceeds from short-term borrowings | 316,000 | 1,214,238 | 664,167 |
Repayments of other borrowings | 0 | 0 | -25,000 |
Repayments of long-term debt | 0 | -636,621 | 0 |
Proceeds from Issuance of Long-term Debt | 0 | 497,185 | 0 |
Customer banking deposits, net | -163,952 | 103,608 | -26,091 |
Dividends paid | -218,980 | -217,201 | -208,801 |
Repurchase of common stock | -6,106 | -340,413 | -180,592 |
Proceeds from exercise of stock options | 28,246 | 25,139 | 12,275 |
Intercompany advances (payments) (1) | ' | ' | ' |
Other, net | -4,138 | -16,238 | -16,853 |
Net cash used in financing activities | -364,930 | -584,541 | -445,062 |
Effects of exchange rate changes on cash | -17,618 | 1,620 | -2,364 |
Net increase (decrease) in cash and cash equivalents | 437,723 | -196,750 | 266,490 |
Cash and cash equivalents at beginning of the year | 1,747,584 | 1,944,334 | 1,677,844 |
Cash and cash equivalents at end of the year | 2,185,307 | 1,747,584 | 1,944,334 |
H&R Block, Inc. (Guarantor) | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used in) operating activities: | ' | -22,533 | 33,046 |
Purchases of AFS securities | ' | ' | ' |
Sales, maturities and payments received on AFS securities | ' | ' | ' |
Mortgage loans held for investment, net | ' | ' | ' |
Capital expenditures | ' | ' | ' |
Payments for business acquisitions, net | ' | ' | ' |
Proceeds from sales of businesses, net | ' | ' | ' |
Proceeds from Collection of Notes Receivable | ' | ' | ' |
Franchise loans funded | ' | ' | ' |
Payments received on franchise loans | ' | ' | ' |
Surrender of company-owned life insurance policies | ' | ' | ' |
Intercompany advances (payments) (1) | ' | ' | ' |
Other, net | ' | ' | ' |
Net cash provided by (used in) investing activities | ' | ' | ' |
Repayments of commercial paper and other short-term borrowings | ' | ' | ' |
Proceeds from short-term borrowings | ' | ' | ' |
Repayments of other borrowings | ' | ' | ' |
Repayments of long-term debt | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | ' | 0 | ' |
Customer banking deposits, net | ' | ' | ' |
Dividends paid | -218,980 | -217,201 | -208,801 |
Repurchase of common stock | -6,106 | -340,413 | -180,592 |
Proceeds from exercise of stock options | 28,246 | 25,139 | 12,275 |
Intercompany advances (payments) (1) | 196,840 | 555,008 | 344,000 |
Other, net | ' | ' | 72 |
Net cash used in financing activities | ' | 22,533 | -33,046 |
Effects of exchange rate changes on cash | ' | ' | ' |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' |
Cash and cash equivalents at beginning of the year | ' | ' | ' |
Cash and cash equivalents at end of the year | ' | ' | ' |
Block Financial (Issuer) | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used in) operating activities: | 35,034 | -3,299 | 15,144 |
Purchases of AFS securities | -45,158 | -227,177 | -256,173 |
Sales, maturities and payments received on AFS securities | 106,873 | 117,346 | 63,291 |
Mortgage loans held for investment, net | 46,664 | 44,031 | 49,142 |
Capital expenditures | -75 | -58 | -153 |
Payments for business acquisitions, net | ' | ' | ' |
Proceeds from sales of businesses, net | ' | ' | ' |
Proceeds from Collection of Notes Receivable | ' | ' | ' |
Franchise loans funded | -63,960 | -70,807 | -46,246 |
Payments received on franchise loans | 87,220 | 83,445 | 56,591 |
Surrender of company-owned life insurance policies | ' | ' | ' |
Intercompany advances (payments) (1) | 33,497 | -274,090 | 55,721 |
Other, net | 19,746 | -18,822 | 11,785 |
Net cash provided by (used in) investing activities | 184,807 | -346,132 | -66,042 |
Repayments of commercial paper and other short-term borrowings | -316,000 | -1,214,238 | -664,167 |
Proceeds from short-term borrowings | 316,000 | 1,214,238 | 664,167 |
Repayments of other borrowings | ' | ' | -25,000 |
Repayments of long-term debt | ' | -605,790 | ' |
Proceeds from Issuance of Long-term Debt | ' | 497,185 | ' |
Customer banking deposits, net | -165,575 | 105,488 | -25,298 |
Dividends paid | ' | ' | ' |
Repurchase of common stock | ' | ' | ' |
Proceeds from exercise of stock options | ' | ' | ' |
Intercompany advances (payments) (1) | ' | 408,605 | ' |
Other, net | ' | -13,094 | 105 |
Net cash used in financing activities | -165,575 | 392,394 | -50,193 |
Effects of exchange rate changes on cash | ' | ' | ' |
Net increase (decrease) in cash and cash equivalents | 54,266 | 42,963 | -101,091 |
Cash and cash equivalents at beginning of the year | 558,110 | 515,147 | 616,238 |
Cash and cash equivalents at end of the year | 612,376 | 558,110 | 515,147 |
Other Subsidiaries | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used in) operating activities: | 774,547 | 522,940 | 313,859 |
Purchases of AFS securities | ' | ' | ' |
Sales, maturities and payments received on AFS securities | 228 | 1,065 | 3,091 |
Mortgage loans held for investment, net | ' | ' | ' |
Capital expenditures | -146,936 | -113,181 | -82,304 |
Payments for business acquisitions, net | -68,428 | -20,742 | -15,258 |
Proceeds from sales of businesses, net | 942 | 3,785 | 560,499 |
Proceeds from Collection of Notes Receivable | 64,865 | ' | ' |
Franchise loans funded | ' | ' | ' |
Payments received on franchise loans | ' | ' | ' |
Surrender of company-owned life insurance policies | ' | 81,125 | ' |
Intercompany advances (payments) (1) | -196,840 | -963,613 | -344,000 |
Other, net | 8,709 | 9,053 | 7,602 |
Net cash provided by (used in) investing activities | -337,460 | -1,002,508 | 129,630 |
Repayments of commercial paper and other short-term borrowings | ' | ' | ' |
Proceeds from short-term borrowings | ' | ' | ' |
Repayments of other borrowings | ' | ' | ' |
Repayments of long-term debt | ' | -30,831 | ' |
Proceeds from Issuance of Long-term Debt | ' | 0 | ' |
Customer banking deposits, net | ' | ' | ' |
Dividends paid | ' | ' | ' |
Repurchase of common stock | ' | ' | ' |
Proceeds from exercise of stock options | ' | ' | ' |
Intercompany advances (payments) (1) | -33,497 | 274,090 | -55,721 |
Other, net | -4,138 | -3,144 | -17,030 |
Net cash used in financing activities | -37,635 | 240,115 | -72,751 |
Effects of exchange rate changes on cash | -17,618 | 1,620 | -2,364 |
Net increase (decrease) in cash and cash equivalents | 381,834 | -237,833 | 368,374 |
Cash and cash equivalents at beginning of the year | 1,192,197 | 1,430,030 | 1,061,656 |
Cash and cash equivalents at end of the year | 1,574,031 | 1,192,197 | 1,430,030 |
Eliminations | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used in) operating activities: | ' | ' | ' |
Purchases of AFS securities | ' | ' | ' |
Sales, maturities and payments received on AFS securities | ' | ' | ' |
Mortgage loans held for investment, net | ' | ' | ' |
Capital expenditures | ' | ' | ' |
Payments for business acquisitions, net | ' | ' | ' |
Proceeds from sales of businesses, net | ' | ' | ' |
Proceeds from Collection of Notes Receivable | ' | ' | ' |
Franchise loans funded | ' | ' | ' |
Payments received on franchise loans | ' | ' | ' |
Surrender of company-owned life insurance policies | ' | ' | ' |
Intercompany advances (payments) (1) | 163,343 | 1,237,703 | 288,279 |
Other, net | ' | ' | ' |
Net cash provided by (used in) investing activities | 163,343 | 1,237,703 | 288,279 |
Repayments of commercial paper and other short-term borrowings | ' | ' | ' |
Proceeds from short-term borrowings | ' | ' | ' |
Repayments of other borrowings | ' | ' | ' |
Repayments of long-term debt | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | ' | 0 | ' |
Customer banking deposits, net | 1,623 | -1,880 | -793 |
Dividends paid | ' | ' | ' |
Repurchase of common stock | ' | ' | ' |
Proceeds from exercise of stock options | ' | ' | ' |
Intercompany advances (payments) (1) | -163,343 | -1,237,703 | -288,279 |
Other, net | ' | ' | ' |
Net cash used in financing activities | -161,720 | -1,239,583 | -289,072 |
Effects of exchange rate changes on cash | ' | ' | ' |
Net increase (decrease) in cash and cash equivalents | 1,623 | -1,880 | -793 |
Cash and cash equivalents at beginning of the year | -2,723 | -843 | -50 |
Cash and cash equivalents at end of the year | ($1,100) | ($2,723) | ($843) |
Schedule_II_Details
Schedule II (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2011 |
Valuation and Qualifying Accounts [Abstract] | ' | ' | ' | ' |
Valuation Allowances and Reserves, Balance | $19,176 | $54,613 | $77,443 | $140,422 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 12,467 | 1,497 | 2,744 | ' |
Valuation Allowances and Reserves, Charged to Other Accounts | 0 | 0 | 0 | ' |
Valuation Allowances and Reserves, Deductions | ($47,904) | ($24,327) | ($65,723) | ' |