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H&R Block – Company Information

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H&R Block is an American provider of consumer tax services and financial products, headquartered in Kansas City, Missouri.

It primarily focuses on tax preparation, with side operations in banking, payroll, personal finance, and business consulting services.

The company has prepared more than 625 million tax returns since its inception in 1955 – when the brothers Henry W. Bloch and Richard A. Bloch founded the company.

H&R Block has offices in Canada, Australia, Brazil, and India, with 11,000 retail tax offices in the US, and 1,700 across other countries.

Approximately 80,000 professional tax preparers and associates work for H&R Block.

The company offers tax return preparation services in-person and online through its H&R Block At Home™ online and desktop software products.

Most of the revenue that the company generates comes from fees earned for tax preparation and related services performed at company-owned retail tax offices, royalties from franchisees, sales of tax preparation software, online tax preparation fees and fees from complementary services.

Through ownership of H&R Block Bank (HRB Bank) it is a savings and loan holding company (SLHC) regulated by the Board of Governors of the Federal Reserve System (Federal Reserve).

Overview

H&R Block logo

  • CEO: William Cobb
  • Chairman: Robert Gerard
  • Industry: Tax Preparation and Financial Services
  • Type: Public
  • Listed on the New York Stock Exchange (NYSE)
  • NYSE stock symbol: HRB
  • S&P 500 Component
  • Founded: 1955
  • Revenue: $2.905 billion USD (2013)
  • Net income: $433.9 million USD (2013)
  • Diluted earnings per share: $1.58 USD (2013)
  • Employees: 80,000 (2013)
  • Company head office: One H&R Block Way, Kansas City, MO 64105, USA
  • Corporate contact number: 816-854-3000
  • Website: http://www.hrblock.com/

Income statement data (in $ thousands) 2013 2012
Service revenues $2,443,000 $2,434,307
Product and other revenues $364,114 $359,664
Interest income $98,829 $99,800
Total revenue $2,905,943 $2,893,771
Operating expenses $1,604,788 $1,701,695
Operating income $696,686 $566,292
Income from continuing operations before income taxes $702,011 $576,070
Net income from continuing operations $465,158 $345,968
Net income (loss) from discontinued operations $(31,210) $(80,036)
Net income $433,948 $265,932
Balance sheet data (in $ thousands)
Total assets $4,537,779 $4,649,567
Total liabilities $3,274,232 $3,323,675
Total stockholders’ equity $1,263,547 $1,325,892
Common share data (in $)
Earnings per Common Share – Basic $1.59 $0.89
Earnings per Common Share – Diluted $1.58 $0.89

Source: “H&R Block 2013 Annual Report Form 10-K”