hrb-20250331

0001605297-25-000005.txt : 20250507 0001605297-25-000005.hdr.sgml : 20250507 20250507165255 ACCESSION NUMBER: 0001605297-25-000005 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 62 CONFORMED PERIOD OF REPORT: 20250331 FILED AS OF DATE: 20250507 DATE AS OF CHANGE: 20250507 FILER: COMPANY DATA: COMPANY CONFORMED NAME: H&R BLOCK INC CENTRAL INDEX KEY: 0000012659 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200] ORGANIZATION NAME: 07 Trade & Services EIN: 440607856 STATE OF INCORPORATION: MO FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-06089 FILM NUMBER: 25922432 BUSINESS ADDRESS: STREET 1: ONE H&R BLOCK WAY CITY: KANSAS CITY STATE: MO ZIP: 64105 BUSINESS PHONE: 8168543000 MAIL ADDRESS: STREET 1: ONE H&R BLOCK WAY CITY: KANSAS CITY STATE: MO ZIP: 64105 10-Q 1 hrb-20250331.htm 10-Q hrb-20250331

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


(Mark One)
☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended	March 31, 2025
OR
☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from to

Commission file number 1-06089

H&R Block, Inc.

(Exact name of registrant as specified in its charter)


Missouri						44-0607856
(State or other jurisdiction of						(I.R.S. Employer
incorporation or organization)						Identification No.)

One H&R Block Way, Kansas City, Missouri 64105

(Address of principal executive offices, including zip code)

(816) 854-3000

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, without par value	HRB	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one)

Large accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☑

The number of shares outstanding of the registrant's Common Stock, without par value, at the close of business on April 30, 2025: 133,880,414 shares.

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Form 10-Q for the Period ended March 31, 2025

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	PART I
Item 1.	Consolidated Statements of Operations and Comprehensive Income Three and nine months ended March 31, 2025 and 2024	1
	Consolidated Balance Sheets As of March 31, 2025 and June 30, 2024	2
	Consolidated Statements of Cash Flows Nine months ended March 31, 2025 and 2024	3
	Consolidated Statements of Stockholders' Equity Three and nine months ended March 31, 2025 and 2024	4
	Notes to Consolidated Financial Statements	6
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	15
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	24
Item 4.	Controls and Procedures	24
	PART II
Item 1.	Legal Proceedings	24
Item 1A.	Risk Factors	24
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	25
Item 3.	Defaults Upon Senior Securities	25
Item 4.	Mine Safety Disclosures	25
Item 5.	Other Information	25
Item 6.	Exhibits	26
	Signatures	27

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PART I FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS


CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME:					(unaudited, in 000s, except per share amounts)
	Three months ended March 31,				Nine months ended March 31,
	2025		2024		2025		2024
REVENUES:
Service revenues	$	2,099,481	$	1,993,556	$	2,434,220	$	2,314,363
Royalty, product and other revenues	177,623		191,278		215,764		233,354
	2,277,104		2,184,834		2,649,984		2,547,717
OPERATING EXPENSES:
Costs of revenues	969,392		926,008		1,553,182		1,485,193
Selling, general and administrative	329,399		330,622		640,111		608,078
Total operating expenses	1,298,791		1,256,630		2,193,293		2,093,271

Other income (expense), net	4,554		5,224		19,215		20,982
Interest expense on borrowings	(24,686)		(26,070)		(62,285)		(63,304)
Income from continuing operations before income taxes	958,181		907,358		413,621		412,124
Income taxes	235,253		215,772		104,580		72,527
Net income from continuing operations	722,928		691,586		309,041		339,597
Net loss from discontinued operations, net of tax benefits of $180, $254, $811 and $627	(598)		(849)		(2,707)		(2,097)
NET INCOME	$	722,330	$	690,737	$	306,334	$	337,500
BASIC EARNINGS PER SHARE:
Continuing operations	$	5.38	$	4.94	$	2.26	$	2.37
Discontinued operations	(0.01)		(0.01)		(0.02)		(0.01)
Consolidated	$	5.37	$	4.93	$	2.24	$	2.36
DILUTED EARNINGS PER SHARE:
Continuing operations	$	5.32	$	4.87	$	2.23	$	2.34
Discontinued operations	(0.01)		(0.01)		(0.02)		(0.02)
Consolidated	$	5.31	$	4.86	$	2.21	$	2.32




DIVIDENDS DECLARED PER SHARE	$	0.375	$	0.32	$	1.125	$	0.96
COMPREHENSIVE INCOME:
Net income	$	722,330	$	690,737	$	306,334	$	337,500



Change in foreign currency translation adjustments	445		(9,882)		(22,472)		(9,237)
Other comprehensive income (loss)	445		(9,882)		(22,472)		(9,237)
Comprehensive income	$	722,775	$	680,855	$	283,862	$	328,263

See accompanying notes to consolidated financial statements.


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CONSOLIDATED BALANCE SHEETS	(unaudited, in 000s, except share and per share amounts)
As of	March 31, 2025		June 30, 2024
ASSETS
Cash and cash equivalents	$	772,946	$	1,053,326
Cash and cash equivalents - restricted	16,744		21,867
Receivables, less allowance for credit losses of $49,315 and $61,182	352,398		69,075

Prepaid expenses and other current assets	104,450		95,208
Total current assets	1,246,538		1,239,476
Property and equipment, at cost, less accumulated depreciation and amortization of $864,681 and $838,814	146,456		131,319
Operating lease right of use assets	417,197		461,986
Intangible assets, net	270,007		264,102
Goodwill	785,936		785,226
Deferred tax assets and income taxes receivable	308,989		271,658
Other noncurrent assets	69,888		65,043
Total assets	$	3,245,011	$	3,218,810
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES:
Accounts payable and accrued expenses	$	243,754	$	155,830
Accrued salaries, wages and payroll taxes	269,849		105,548
Accrued income taxes and reserves for uncertain tax positions	346,733		318,830
Current portion of long-term debt	349,787		—
Operating lease liabilities	173,902		206,070
Deferred revenue and other current liabilities	205,778		191,050
Total current liabilities	1,589,803		977,328
Long-term debt and line of credit borrowings	1,142,890		1,491,095
Deferred tax liabilities and reserves for uncertain tax positions	337,634		291,063
Operating lease liabilities	252,630		265,373
Deferred revenue and other noncurrent liabilities	114,892		103,357
Total liabilities	3,437,849		3,128,216
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock, no par, stated value $0.01 per share, 800,000,000 shares authorized, shares issued of 164,367,434 and 170,915,771	1,644		1,709
Additional paid-in capital	758,821		762,583
Accumulated other comprehensive loss	(71,317)		(48,845)
Retained earnings (deficit)	(236,909)		12,654
Less treasury shares, at cost, of 30,487,639 and 31,324,609	(645,077)		(637,507)
Total stockholders' equity (deficiency)	(192,838)		90,594
Total liabilities and stockholders' equity	$	3,245,011	$	3,218,810

See accompanying notes to consolidated financial statements.


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CONSOLIDATED STATEMENTS OF CASH FLOWS	(unaudited, in 000s)
Nine months ended March 31,	2025		2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	306,334	$	337,500
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	87,247		91,004
Provision for credit losses	56,042		61,359
Deferred taxes	(12,503)		(58,223)
Stock-based compensation	25,420		25,310

Changes in assets and liabilities, net of acquisitions:

Receivables	(335,605)		(348,106)
Prepaid expenses, other current and noncurrent assets	(7,504)		(18,037)

Accounts payable, accrued expenses, salaries, wages and payroll taxes	240,246		223,045

Deferred revenue, other current and noncurrent liabilities	20,684		12,483

Income tax receivables, accrued income taxes and income tax reserves	50,049		93,961
Other, net	(1,088)		(32)
Net cash provided by operating activities	429,322		420,264
CASH FLOWS FROM INVESTING ACTIVITIES:



Capital expenditures	(71,784)		(53,831)
Payments made for business acquisitions, net of cash acquired	(35,323)		(43,163)



Franchise loans funded	(21,455)		(18,815)
Payments from franchisees	11,478		12,884

Other, net	6,194		3,282
Net cash used in investing activities	(110,890)		(99,643)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of line of credit borrowings	(1,950,000)		(1,025,000)
Proceeds from line of credit borrowings	1,950,000		1,025,000




Dividends paid	(147,136)		(135,127)
Repurchase of common stock, including shares surrendered	(436,516)		(379,018)

Other, net	(11,854)		(6,358)
Net cash used in financing activities	(595,506)		(520,503)
Effects of exchange rate changes on cash	(8,429)		(2,739)
Net decrease in cash and cash equivalents, including restricted balances	(285,503)		(202,621)
Cash, cash equivalents and restricted cash, beginning of period	1,075,193		1,015,316
Cash, cash equivalents and restricted cash, end of period	$	789,690	$	812,695
SUPPLEMENTARY CASH FLOW DATA:
Income taxes paid, net (includes payments for purchased investment tax credits)	$	65,505	$	35,888
Interest paid on borrowings	63,251		66,464


Accrued additions to property and equipment	2,448		1,477
New operating right of use assets and related lease liabilities	135,372		139,872
Accrued dividends payable to common shareholders	50,194		44,648

See accompanying notes to consolidated financial statements.


H&R Block, Inc. \| Q3 FY2025 Form 10-Q			3

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY					(amounts in 000s, except per share amounts)
	Common Stock			Additional Paid-in Capital	Accumulated Other Comprehensive Loss(1)		Retained Earnings (Deficit)		Treasury Stock			Total Stockholders’ Equity
	Shares	Amount									Shares			Amount
Balances as of July 1, 2024	170,916	$	1,709		$	762,583	$	(48,845)	$	12,654	(31,325)	$	(637,507)		$	90,594
Net loss	—	—			—		—		(172,576)		—	—			(172,576)
Other comprehensive income	—	—			—		6,117		—		—	—			6,117
Stock-based compensation	—	—			7,463		—		—		—	—			7,463
Stock-based awards exercised or vested	—	—			(23,990)		—		(2,611)		1,319	26,848			247
Acquisition of treasury shares(2)	—	—			—		—		—		(567)	(35,882)			(35,882)
Repurchase and retirement of common shares	(3,301)	(33)			(1,980)		—		(209,708)		—	—			(211,721)


Cash dividends declared - $0.375 per share	—	—			—		—		(52,307)		—	—			(52,307)
Balances as of September 30, 2024	167,615	$	1,676		$	744,076	$	(42,728)	$	(424,548)	(30,573)	$	(646,541)		$	(368,065)
Net loss	—	—			—		—		(243,420)		—	—			(243,420)
Other comprehensive loss	—	—			—		(29,034)		—		—	—			(29,034)
Stock-based compensation	—	—			9,156		—		—		—	—			9,156
Stock-based awards exercised or vested	—	—			810		—		(245)		54	1,144			1,709
Acquisition of treasury shares(2)	—	—			—		—		—		(4)	(253)			(253)
Repurchase and retirement of common shares	(3,248)	(32)			(1,949)		—		(190,396)		—	—			(192,377)


Cash dividends declared - $0.375 per share	—	—			—		—		(50,176)		—	—			(50,176)
Balances as of December 31, 2024	164,367	$	1,644		$	752,093	$	(71,762)	$	(908,785)	(30,523)	$	(645,650)		$	(872,460)
Net income	—	—			—		—		722,330		—	—			722,330
Other comprehensive income	—	—			—		445		—		—	—			445
Stock-based compensation	—	—			7,424		—		—		—	—			7,424
Stock-based awards exercised or vested	—	—			(696)		—		(260)		41	856			(100)
Acquisition of treasury shares(2)	—	—			—		—		—		(6)	(283)			(283)



Cash dividends declared - $0.375 per share	—	—			—		—		(50,194)		—	—			(50,194)
Balances as of March 31, 2025	164,367	$	1,644		$	758,821	$	(71,317)	$	(236,909)	(30,488)	$	(645,077)		$	(192,838)

(1) The balance of our accumulated other comprehensive loss consists of foreign currency translation adjustments.

(2) Represents shares swapped or surrendered to us in connection with the vesting or exercise of stock-based awards.

See accompanying notes to consolidated financial statements.


4			Q3 FY2025 Form 10-Q\| H&R Block, Inc.

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					(amounts in 000s, except per share amounts)
	Common Stock			Additional Paid-in Capital	Accumulated Other Comprehensive Loss(1)		Retained Earnings (Deficit)		Treasury Stock			Total Stockholders’ Equity
	Shares	Amount									Shares			Amount
Balances as of July 1, 2023	178,936	$	1,789		$	770,376	$	(37,099)	$	(48,677)	(32,786)	$	(654,325)		$	32,064
Net loss	—	—			—		—		(163,482)		—	—			(163,482)
Other comprehensive loss	—	—			—		(10,914)		—		—	—			(10,914)
Stock-based compensation	—	—			6,211		—		—		—	—			6,211
Stock-based awards exercised or vested	—	—			(34,226)		—		(3,220)		1,867	37,348			(98)
Acquisition of treasury shares(2)	—	—			—		—		—		(823)	(28,464)			(28,464)
Repurchase and retirement of common shares	(3,265)	(32)			(1,927)		—		(131,341)		—	—			(133,300)


Cash dividends declared - $0.32 per share	—	—			—		—		(46,901)		—	—			(46,901)
Balances as of September 30, 2023	175,671	$	1,757		$	740,434	$	(48,013)	$	(393,621)	(31,742)	$	(645,441)		$	(344,884)
Net loss	—	—			—		—		(189,755)		—	—			(189,755)
Other comprehensive income	—	—			—		11,559		—		—	—			11,559
Stock-based compensation	—	—			9,270		—		—		—	—			9,270
Stock-based awards exercised or vested	—	—			(165)		—		(46)		348	7,087			6,876
Acquisition of treasury shares(2)	—	—			—		—		—		(3)	(125)			(125)
Repurchase and retirement of common shares	(4,755)	(48)			(2,805)		—		(217,467)		—	—			(220,320)


Cash dividends declared - $0.32 per share	—	—			—		—		(45,273)		—	—			(45,273)
Balances as of December 31, 2023	170,916	$	1,709		$	746,734	$	(36,454)	$	(846,162)	(31,397)	$	(638,479)		$	(772,652)
Net income	—	—			—		—		690,737		—	—			690,737
Other comprehensive loss	—	—			—		(9,882)		—		—	—			(9,882)
Stock-based compensation	—	—			7,140		—		—		—	—			7,140
Stock-based awards exercised or vested	—	—			(269)		—		(223)		16	300			(192)
Acquisition of treasury shares(2)	—	—			—		—		—		(7)	(309)			(309)



Cash dividends declared - $0.32 per share	—	—			—		—		(44,648)		—	—			(44,648)
Balances as of March 31, 2024	170,916	$	1,709		$	753,605	$	(46,336)	$	(200,296)	(31,388)	$	(638,488)		$	(129,806)

(1) The balance of our accumulated other comprehensive loss consists of foreign currency translation adjustments.

(2) Represents shares swapped or surrendered to us in connection with the vesting or exercise of stock-based awards.

See accompanying notes to consolidated financial statements.


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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION – The consolidated balance sheets as of March 31, 2025 and June 30, 2024, the consolidated statements of operations and comprehensive income for the three and nine months ended March 31, 2025 and 2024, the consolidated statements of cash flows for the nine months ended March 31, 2025 and 2024, and the consolidated statements of stockholders' equity for the three and nine months ended March 31, 2025 and 2024 have been prepared by the Company, without audit. In the opinion of management, all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position, results of operations, and cash flows as of March 31, 2025 and 2024 and for all periods presented, have been made.

"H&R Block," "the Company," "we," "our," and "us" are used interchangeably to refer to H&R Block, Inc., to H&R Block, Inc. and its subsidiaries, or to H&R Block, Inc.'s operating subsidiaries, as appropriate to the context.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our June 30, 2024 Annual Report on Form 10-K. All amounts presented herein as of June 30, 2024 or for the year then ended are derived from our Annual Report on Form 10-K.

MANAGEMENT ESTIMATES – The preparation of financial statements in conformity with 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 associated with pending claims and litigation, reserves for uncertain tax positions, and fair value of reporting units. 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.

SEASONALITY OF BUSINESS – Our operating revenues are seasonal in nature with peak revenues typically occurring in the months of February through April. Therefore, results for interim periods are not indicative of results to be expected for the full year.

DISCONTINUED OPERATIONS – Our discontinued operations include the results of operations of Sand Canyon Corporation, previously known as Option One Mortgage Corporation, which exited its mortgage business in fiscal year 2008.


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NOTE 2: REVENUE RECOGNITION

The majority of our revenues are from our United States (U.S.) tax services business. The following table disaggregates our U.S. revenues by major service line, with revenues from our international tax services businesses and from Wave included as separate lines:


							(in 000s)
	Three months ended March 31,				Nine months ended March 31,
	2025		2024		2025		2024
Revenues:
U.S. assisted tax preparation	$	1,635,877	$	1,534,825	$	1,727,220	$	1,622,430
U.S. royalties	133,961		141,915		143,312		153,070
U.S. DIY tax preparation	214,666		198,570		231,646		215,529
Refund Transfers	113,732		118,937		115,229		120,892
Peace of Mind® Extended Service Plan	15,625		16,813		54,867		59,100
Tax Identity Shield®	7,025		7,536		14,947		16,810
Emerald Card® and SpruceSM	40,195		41,160		59,169		61,493
Interest and fee income on Emerald Advance®	14,286		21,169		26,594		36,702
International	60,438		68,264		157,104		158,398
Wave	26,717		23,580		79,681		70,656
Other	14,582		12,065		40,215		32,637
Total revenues	$	2,277,104	$	2,184,834	$	2,649,984	$	2,547,717

Changes in the balances of deferred revenue and wages for our Peace of Mind® Extended Service Plan (POM) are as follows:


							(in 000s)
POM	Deferred Revenue				Deferred Wages
Nine months ended March 31,	2025		2024		2025		2024
Balance, beginning of the period	$	156,610	$	167,257	$	20,212	$	21,828
Amounts deferred	70,536		72,369		7,222		8,324
Amounts recognized on previous deferrals	(64,885)		(68,445)		(8,396)		(8,324)
Balance, end of the period	$	162,261	$	171,181	$	19,038	$	21,828

As of March 31, 2025, deferred revenue related to POM was $162.3 million. We expect that $91.8 million will be recognized over the next twelve months, while the remaining balance will be recognized over the following five years.

As of March 31, 2025 and 2024, Tax Identity Shield® (TIS) deferred revenue was $31.2 million and $31.6 million, respectively. Deferred revenue related to TIS was $21.4 million and $25.2 million as of June 30, 2024 and 2023, respectively. All deferred revenue related to TIS will be recognized through April 2026.

NOTE 3: EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY

EARNINGS PER SHARE – Basic and diluted earnings (loss) 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 (loss) from continuing operations attributable to common shareholders by the weighted average shares outstanding during each period. 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 0.6 million and 0.5 million shares for the three and nine months ended March 31, 2025,


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respectively, and one thousand and 0.2 million shares for the three and nine months ended March 31, 2024, respectively, as the effect would be antidilutive.

The computations of basic and diluted earnings per share from continuing operations are as follows:


(in 000s, except per share amounts)
	Three months ended March 31,				Nine months ended March 31,
	2025		2024		2025		2024
Net income from continuing operations attributable to shareholders	$	722,928	$	691,586	$	309,041	$	339,597
Amounts allocated to participating securities	(3,442)		(2,788)		(1,408)		(1,350)
Net income from continuing operations attributable to common shareholders	$	719,486	$	688,798	$	307,633	$	338,247

Basic weighted average common shares	133,853		139,525		136,207		142,724
Potential dilutive shares	1,476		2,015		1,737		1,870
Dilutive weighted average common shares	135,329		141,540		137,944		144,594

Earnings per share from continuing operations attributable to common shareholders:
Basic	$	5.38	$	4.94	$	2.26	$	2.37
Diluted	5.32		4.87		2.23		2.34

The decrease in the weighted average shares outstanding is due to share repurchases completed in the current and prior fiscal years.

STOCK-BASED COMPENSATION – We granted 1.1 million and 1.7 million shares, including adjustments for performance achievement and dividend equivalents, under our stock-based compensation plans during the nine months ended March 31, 2025 and 2024, respectively. Stock-based compensation expense of our continuing operations totaled $7.5 million and $25.4 million for the three and nine months ended March 31, 2025, respectively, and $7.8 million and $25.3 million for the three and nine months ended March 31, 2024, respectively. As of March 31, 2025, unrecognized compensation cost for nonvested shares and units totaled $50.8 million.

NOTE 4: RECEIVABLES

Receivables, net of their related allowance, consist of the following:


(in 000s)
As of	March 31, 2025				June 30, 2024
	Short-term		Long-term		Short-term		Long-term
Loans to franchisees	$	17,267	$	17,979	$	5,917	$	16,498
Receivables for U.S. assisted and DIY tax preparation and related fees	221,510		9,282		18,440		5,332
H&R Block's Instant Refund® receivables	24,162		808		2,947		207
Emerald Advance®	22,385		22,635		17,867		21,360
Software receivables from retailers	11,097		—		1,029		—
Royalties and other receivables from franchisees	32,394		—		5,808		—
Wave payment processing receivables	1,801		—		1,078		—
Other	21,782		612		15,989		427
Total	$	352,398	$	51,316	$	69,075	$	43,824


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Balances presented above as short-term are included in receivables, while the long-term portions are included in other noncurrent assets in the consolidated balance sheets.

LOANS TO FRANCHISEES – Franchisee loan balances consist of term loans made primarily to finance the purchase of franchises and revolving lines of credit primarily for the purpose of funding working capital needs. Loans with a principal balance more than 90 days past due or on non-accrual status were $2.2 million and $1.1 million as of March 31, 2025 and June 30, 2024, respectively.

H&R BLOCK'S INSTANT REFUND® – H&R Block's Instant Refund® amounts are generally received from the Canada Revenue Agency within 60 days of filing the client's return, with the remaining balance collectible from the client.

We review the credit quality of our Instant Refund receivables based on pools, which are segregated by the tax return year of origination, with older years being deemed more unlikely to be repaid. We establish an allowance for credit losses at an amount that we believe reflects the receivable at net realizable value. In December of each year, we charge-off the receivables and the related allowance to an amount we believe represents the net realizable value.

Balances and amounts on non-accrual status, classified as impaired, or more than 60 days past due, by tax return year of origination, as of March 31, 2025 are as follows:


			(in 000s)

Tax return year of origination	Balance		More Than 60 Days Past Due
2024	$	24,713	$	—
2023 and prior	1,027		1,027

	25,740		$	1,027
Allowance	(770)
Net balance	$	24,970

EMERALD ADVANCE® – We review the credit quality of our purchased participation interests in Emerald Advance® (EA) receivables based on pools, which are segregated by the fiscal year of origination, with older years being deemed more unlikely to be repaid. We establish an allowance for credit losses at an amount that we believe reflects the receivable at net realizable value. Typically, in December of each year, we charge-off the receivables and the related allowance for EAs to an amount we believe represents the net realizable value.

Balances and amounts on non-accrual status, classified as impaired, or more than 60 days past due, by fiscal year of origination, as of March 31, 2025 are as follows:


(in 000s)
Fiscal year of origination	Balance		Non-Accrual
2025	$	40,017	$	—
2024 and prior	24,374		24,374

	64,391		$	24,374
Allowance	(19,371)
Net balance	$	45,020


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ALLOWANCE FOR CREDIT LOSSES – Activity in the allowance for credit losses for EA and all other short-term and long-term receivables for the nine months ended March 31, 2025 and 2024 is as follows:


(in 000s)
	EAs		All Other		Total
Balances as of July 1, 2024	$	33,536	$	45,327	$	78,863
Provision for credit losses	19,371		36,671		56,042
Charge-offs, recoveries and other	(33,536)		(45,864)		(79,400)
Balances as of March 31, 2025	$	19,371	$	36,134	$	55,505
Balances as of July 1, 2023	$	27,386	$	35,108	$	62,494
Provision for credit losses	21,011		40,348		61,359
Charge-offs, recoveries and other	(27,714)		(37,455)		(65,169)
Balances as of March 31, 2024	$	20,683	$	38,001	$	58,684

For the nine months ended March 31, 2025, there were $33.5 million of gross charge-offs related to EAs which were originated in fiscal year 2024.

NOTE 5: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the nine months ended March 31, 2025 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of July 1, 2024	$	923,523	$	(138,297)	$	785,226

Acquisitions(1)	15,374		—		15,374
Disposals and foreign currency changes, net	(14,664)		—		(14,664)
Impairments	—		—		—
Balances as of March 31, 2025	$	924,233	$	(138,297)	$	785,936

(1) All goodwill added during the period is expected to be tax-deductible for federal income tax reporting.

In conjunction with our annual impairment test, we tested goodwill for impairment during the quarter and did not identify any impairment.


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Components of intangible assets are as follows:


(in 000s)
	Gross Carrying Amount		Accumulated Amortization		Net
As of March 31, 2025:
Reacquired franchise rights	$	415,419	$	(239,452)	$	175,967
Customer relationships	358,442		(286,040)		72,402
Internally-developed software	124,420		(122,357)		2,063
Noncompete agreements	23,190		(20,081)		3,109
Purchased technology	70,100		(56,099)		14,001
Trade name	5,800		(3,335)		2,465

	$	997,371	$	(727,364)	$	270,007
As of June 30, 2024:
Reacquired franchise rights	$	403,955	$	(228,157)	$	175,798
Customer relationships	331,435		(270,245)		61,190
Internally-developed software	122,673		(119,610)		3,063
Noncompete agreements	21,977		(19,494)		2,483

Purchased technology	70,100		(51,432)		18,668
Trade name	5,800		(2,900)		2,900
	$	955,940	$	(691,838)	$	264,102

We made payments to acquire businesses totaling $35.3 million and $43.2 million during the nine months ended March 31, 2025 and 2024, respectively. The amounts and weighted-average lives of intangible assets acquired during the nine months ended March 31, 2025, including amounts capitalized related to internally-developed software, are as follows:


(dollars in 000s)
	Amount		Weighted-Average Life (in years)
Customer relationships	$	27,435	5
Reacquired franchise rights	11,649		6
Internally-developed software	1,949		3
Noncompete agreements	1,254		5
Total	$	42,287	5

Amortization of intangible assets for the three and nine months ended March 31, 2025 was $11.3 million and $36.3 million, respectively, compared to $15.0 million and $46.2 million for the three and nine months ended March 31, 2024, respectively. Estimated amortization of intangible assets for fiscal years ending June 30, 2025, 2026, 2027, 2028, and 2029 is $47.6 million, $41.5 million, $34.7 million, $26.5 million and $18.1 million, respectively.


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NOTE 6: LONG-TERM DEBT

The components of long-term debt are as follows:


			(in 000s)
As of	March 31, 2025		June 30, 2024
Senior Notes, 5.250%, due October 2025	$	350,000	$	350,000
Senior Notes, 2.500%, due July 2028	500,000		500,000
Senior Notes, 3.875%, due August 2030	650,000		650,000

Debt issuance costs and discounts	(7,323)		(8,905)
Total long-term debt	1,492,677		1,491,095
Less: Current portion	(349,787)		—
Long-term portion	$	1,142,890	$	1,491,095
Estimated fair value of long-term debt	$	1,422,000	$	1,391,000

Our unsecured committed line of credit (CLOC) provides for an unsecured senior revolving credit facility in the aggregate principal amount of $1.5 billion, which includes a $175.0 million sublimit for swingline loans and a $50.0 million sublimit for standby letters of credit. We may request increases in the aggregate principal amount of the revolving credit facility of up to $500.0 million, subject to obtaining commitments from lenders and meeting certain other conditions. The CLOC will mature on June 11, 2026, unless extended pursuant to the terms of the CLOC, at which time all outstanding amounts thereunder will be due and payable. Our CLOC includes an annual facility fee, which will vary depending on our then current credit ratings.

The 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, as defined by the CLOC agreement, calculated on a consolidated basis of no greater than (a) 3.50 to 1.00 as of the last day of each fiscal quarter ending on March 31, June 30, and September 30 of each year and (b) 4.50 to 1.00 as of the last day of each fiscal quarter ending on December 31 of each year; (2) a covenant requiring us to maintain an interest coverage ratio (EBITDA-to-interest expense) calculated on a consolidated basis of not less than 2.50 to 1.00 as of the last date of any fiscal quarter; and (3) covenants restricting our ability to incur certain additional debt, incur liens, merge or consolidate with other companies, sell or dispose of assets (including equity interests), liquidate or dissolve, engage in certain transactions with affiliates or enter into certain restrictive agreements. The CLOC includes provisions for an equity cure which could potentially allow us to independently cure certain defaults. Proceeds under the CLOC may be used for working capital needs or for other general corporate purposes. We were in compliance with these requirements as of March 31, 2025.

We had no outstanding balance under our CLOC and amounts available to borrow were not limited by the debt-to-EBITDA covenant as of March 31, 2025.

NOTE 7: INCOME TAXES

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, local, and foreign jurisdictions.

We had gross unrecognized tax benefits of $284.0 million and $251.8 million as of March 31, 2025 and June 30, 2024, respectively. The gross unrecognized tax benefits increased by $32.2 million during the nine months ended March 31, 2025. The increase is primarily related to various current federal and state tax positions expected to be taken in our income tax returns. We believe it is reasonably possible that the balance of unrecognized tax benefits could decrease by approximately $148.4 million within the next twelve months. The anticipated decrease is due to the expiration of statutes of limitations, anticipated closure of various tax matters currently under examination, and settlements with tax authorities. For such matters where a change in the balance of unrecognized tax benefits is not yet deemed reasonably possible, no estimate has been included.


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Our effective tax rate for continuing operations, including the effects of discrete tax items, was 25.3% and 17.6% for the nine months ended March 31, 2025 and 2024, respectively. Discrete items increased the effective tax rate by 0.9% for the nine months ended March 31, 2025 and decreased the effective tax rate by 6.3% for the nine months ended March 31, 2024. Discrete income tax expense of $3.8 million and benefit of $26.0 million were recorded in the nine months ended March 31, 2025, and 2024, respectively. The discrete tax expense recorded in the current period primarily resulted from interest expense on uncertain tax positions, partially offset by benefits related to investment tax credit purchases and stock-based compensation vesting. The discrete tax benefit recorded in the prior period primarily resulted from settlements with taxing authorities and state statute of limitations expirations. The impact discrete tax items have on our tax rate through the third quarter are slightly exaggerated versus the impact discrete tax items have on the full fiscal year tax rate.

NOTE 8: COMMITMENTS AND CONTINGENCIES

Our U.S. and Canadian businesses offer our 100% accuracy guarantee. Assisted tax returns are covered by our 100% accuracy guarantee, whereby we will reimburse a client for penalties and interest attributable to an H&R Block error on a return. DIY tax returns are covered by our 100% accuracy guarantee, whereby we will reimburse a client up to a maximum of $10,000 if our software makes an arithmetic error that results in payment of penalties and/or interest to the respective taxing authority that a client would otherwise not have been required to pay. Our liability related to estimated losses under the 100% accuracy guarantee was $11.3 million and $14.1 million as of March 31, 2025 and June 30, 2024, respectively. The short-term and long-term portions of this liability are included in deferred revenue and other liabilities in the consolidated balance sheets.

Liabilities related to acquisitions for (1) estimated contingent consideration based on expected financial performance of the acquired business and economic conditions at the time of acquisition and (2) estimated accrued compensation related to continued employment of key employees were $32.4 million and $26.9 million as of March 31, 2025 and June 30, 2024 respectively, with amounts recorded in deferred revenue and other liabilities. Should actual results differ from our estimates, 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 short-term lines of credit for the purpose of meeting their seasonal working capital needs. Our total obligation under these lines of credit was $21.0 million at March 31, 2025, and net of amounts drawn and outstanding, our remaining commitment to fund totaled $9.1 million.

During the nine months ended March 31, 2025, the Company entered into an agreement to purchase federal investment tax credits (ITC), if certain conditions are met. During the nine months ended March 31, 2025, we paid $22.9 million for ITCs. As of March 31, 2025, the Company has a remaining commitment to purchase additional ITCs, for approximately $75.1 million if certain conditions set forth in the agreement are satisfied, with the final payment anticipated to occur by June 30, 2025.

Emerald Advance® term loans are originated by Pathward®, N.A. (Pathward). We purchase participation interests, at par, in all EAs originated by Pathward in accordance with our participation agreement. Our participation interest varies by jurisdiction. At March 31, 2025, the principal balance of purchased participation interests for the current year totaled $260.6 million, which represents 87% of total EA volume originated by Pathward.

Refund Advance loans are originated by Pathward and offered to certain assisted U.S. tax preparation clients, based on client eligibility as determined by Pathward. We pay fees primarily based on loan size and customer type. We have provided a guarantee up to $18.0 million related to certain loans to clients prior to the IRS accepting electronic filing. At March 31, 2025, we accrued an estimated liability of $2.4 million related to this guarantee, compared to $1.4 million at June 30, 2024.

NOTE 9: LITIGATION AND OTHER RELATED CONTINGENCIES

We are a defendant in numerous litigation and arbitration 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 or arbitrations to which we are subject. In some of the matters, very large or indeterminate amounts, including punitive damages, may be sought. U.S. jurisdictions permit considerable variation in the assertion of monetary


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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. 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 claim bears little relevance to its merits or disposition value due to this variability in pleadings and our experience in handling and resolving numerous claims over an extended period of time.

The outcome of a 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 courts and arbitrators will apply the law. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will view the relevant evidence and applicable law.

In addition to litigation and arbitration matters, we are also subject to other loss contingencies arising out of our business activities, including as described below.

We accrue liabilities for litigation, arbitration and other related loss contingencies and any related settlements when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. 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 March 31, 2025. 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 business and our consolidated financial position, results of operations, and cash flows. Our accrued liabilities were $5.5 million and $7.2 million as of March 31, 2025 and June 30, 2024, respectively.

Our estimate of the aggregate range of reasonably possible losses includes (1) matters where a liability has been accrued and there is a reasonably possible loss in excess of the amount accrued for that liability, and (2) matters where a liability has not been accrued but we believe a loss is reasonably possible. This aggregate range only represents those losses as to which we are currently able to estimate a reasonably possible loss or range of loss. It does not represent our maximum loss exposure.

Matters for which we are not currently able to estimate the reasonably possible loss or range of loss are not included in this range. 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 precise information about the amount of damages or other remedies being asserted, the defenses to the claims being asserted, discovery from other parties and investigation of factual allegations, rulings by courts or arbitrators on motions or appeals, analyses by experts, or the status or terms of any settlement negotiations.

The 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. As of March 31, 2025, we believe the estimate of the aggregate range of reasonably possible losses in excess of amounts accrued, where the range of loss can be estimated, is not material.

At the end of each reporting period, we review relevant information with respect to litigation, arbitration and other related 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.


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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 business and our consolidated financial position, results of operations, and cash flows.

We have received and are responding to certain governmental inquiries, class actions and mass arbitrations relating to the IRS Free File Program and other aspects of our DIY tax preparation services, including the use of pixels. An accrual related to these matters is included in our loss contingency accrual.

We are from time to time a party to litigation, arbitration 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 others who may be 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 and our consolidated financial position, results of operations, and cash flows.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

Our subsidiaries provide assisted and do-it-yourself (DIY) tax preparation solutions through multiple channels (including in-person, online and mobile applications, virtual, and desktop software) and distribute H&R Block-branded products and services, including those of our bank partners, to the general public primarily in the United States (U.S.), Canada and Australia. Tax returns are either prepared by H&R Block tax professionals in one of our 6,701 company-owned or 2,013 franchise offices (as of March 31, 2025), virtually or via an online review or prepared and filed by our clients through our DIY tax solutions. We also offer small business solutions through our company-owned and franchise offices (including in-person, online and virtual) and online through Wave. We report a single segment that includes all of our continuing operations.


H&R Block, Inc. \|Q3 FY2025 Form 10-Q			15

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Consolidated – Financial Results			(in 000s, except per share amounts)
Three months ended March 31,	2025		2024		$ Change		% Change
Revenues:
U.S. tax preparation and related services:
Assisted tax preparation	$	1,635,877	$	1,534,825	$	101,052	6.6	%
Royalties	133,961		141,915		(7,954)		(5.6)	%
DIY tax preparation	214,666		198,570		16,096		8.1	%
Refund Transfers	113,732		118,937		(5,205)		(4.4)	%
Peace of Mind® Extended Service Plan	15,625		16,813		(1,188)		(7.1)	%
Tax Identity Shield®	7,025		7,536		(511)		(6.8)	%
Other	14,582		12,065		2,517		20.9	%
Total U.S. tax preparation and related services	2,135,468		2,030,661		104,807		5.2	%
Financial services:
Emerald Card® and SpruceSM	40,195		41,160		(965)		(2.3)	%
Interest and fee income on Emerald Advance®	14,286		21,169		(6,883)		(32.5)	%
Total financial services	54,481		62,329		(7,848)		(12.6)	%
International	60,438		68,264		(7,826)		(11.5)	%
Wave	26,717		23,580		3,137		13.3	%
Total revenues	$	2,277,104	$	2,184,834	$	92,270	4.2	%
Compensation and benefits:
Field wages	532,916		510,299		(22,617)		(4.4)	%
Other wages	74,621		75,356		735		1.0	%
Benefits and other compensation	111,575		99,653		(11,922)		(12.0)	%
	719,112		685,308		(33,804)		(4.9)	%
Occupancy	119,709		119,364		(345)		(0.3)	%
Marketing and advertising	196,667		194,349		(2,318)		(1.2)	%
Depreciation and amortization	29,221		30,672		1,451		4.7	%
Bad debt	40,479		41,008		529		1.3	%
Other	193,603		185,929		(7,674)		(4.1)	%
Total operating expenses	1,298,791		1,256,630		(42,161)		(3.4)	%
Other income (expense), net	4,554		5,224		(670)		(12.8)	%
Interest expense on borrowings	(24,686)		(26,070)		1,384		5.3	%
Pretax income	958,181		907,358		50,823		5.6	%
Income taxes	235,253		215,772		(19,481)		(9.0)	%
Net income from continuing operations	722,928		691,586		31,342		4.5	%
Net loss from discontinued operations	(598)		(849)		251		29.6	%
Net income	$	722,330	$	690,737	$	31,593	4.6	%
DILUTED EARNINGS PER SHARE
Continuing operations	$	5.32	$	4.87	$	0.45	9.2	%
Discontinued operations	(0.01)		(0.01)		—		**
Consolidated	$	5.31	$	4.86	$	0.45	9.3	%




Adjusted diluted EPS(1)	$	5.38	$	4.94	$	0.44	8.9	%
EBITDA (1)	$	1,012,088	$	964,100	$	47,988	5.0	%

(1) All non-GAAP measures are results from continuing operations. See "Non-GAAP Financial Information" at the end of this item for a reconciliation of non-GAAP measures.


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Three months ended March 31, 2025 compared to March 31, 2024

Revenues increased $92.3 million, or 4.2%, from the prior year. U.S. assisted tax preparation revenues increased $101.1 million, or 6.6%, due to a 5.0% increase in net average charge combined with a 1.5% increase in company-owned tax return volumes in the current year. U.S. royalty revenue decreased $8.0 million, or 5.6%, due to lower franchise tax return volumes which was primarily driven by franchise acquisitions. During the year we purchased franchise offices which results in increasing tax preparation revenues and decreasing royalties as the revenues and returns become company-owned after the acquisition. For the three months ended March 31, 2025 our total assisted tax return volume, which includes both company-owned and franchise offices, decreased 0.6% from the prior year.

U.S. DIY tax preparation revenues increased $16.1 million, or 8.1%, primarily due to an 8.9% increase in online paid net average charge and higher desktop software sales, offset by slightly lower online paid volumes.

Interest and fee income on Emerald Advance® revenues decreased $6.9 million, or 32.5%, primarily due to a decrease in EA loans originated in the current year.

International tax preparation revenues decreased $7.8 million, or 11.5%, primarily due to lower tax return volumes in Canada combined with unfavorable foreign currency exchange rates.

Total operating expenses increased $42.2 million, or 3.4%, from the prior year. Field wages increased $22.6 million, or 4.4%, due to higher tax professional wages in the current year primarily due to the increase in company-owned volumes. Benefits and other compensation increased $11.9 million, or 12.0%, due to higher payroll taxes and 401K match in the current year.

Other operating expenses increased $7.7 million, or 4.1%. The components of other expenses are as follows:


							(in 000s)
Three months ended March 31,	2025		2024		$ Change		% Change
Consulting and outsourced services	$	38,887	$	37,896	$	(991)	(2.6)	%
Bank partner fees	30,836		29,681		(1,155)		(3.9)	%
Client claims and refunds	8,420		8,117		(303)		(3.7)	%
Employee and travel expenses	8,552		8,368		(184)		(2.2)	%
Technology-related expenses	34,472		30,623		(3,849)		(12.6)	%
Credit card/bank charges	39,605		36,702		(2,903)		(7.9)	%
Insurance	4,644		2,645		(1,999)		(75.6)	%
Legal fees and settlements	7,986		11,286		3,300		29.2	%
Supplies	10,407		11,231		824		7.3	%
Other	9,794		9,380		(414)		(4.4)	%
	$	193,603	$	185,929	$	(7,674)	(4.1)	%

We recorded an income tax expense of $235.3 million in the current year compared to $215.8 million in the prior year. The effective tax rate for the three months ended March 31, 2025, and 2024 was 24.6% and 23.8%, respectively.


H&R Block, Inc. \|Q3 FY2025 Form 10-Q			17

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Consolidated - Financial Results			(in 000s, except per share amounts)
Nine months ended March 31,	2025		2024		$ Change		% Change
Revenues:
U.S. tax preparation and related services:
Assisted tax preparation	$	1,727,220	$	1,622,430	$	104,790	6.5	%
Royalties	143,312		153,070		(9,758)		(6.4)	%
DIY tax preparation	231,646		215,529		16,117		7.5	%
Refund Transfers	115,229		120,892		(5,663)		(4.7)	%
Peace of Mind® Extended Service Plan	54,867		59,100		(4,233)		(7.2)	%
Tax Identity Shield®	14,947		16,810		(1,863)		(11.1)	%
Other	40,215		32,637		7,578		23.2	%
Total U.S. tax preparation and related services	2,327,436		2,220,468		106,968		4.8	%
Financial services:
Emerald Card® and SpruceSM	59,169		61,493		(2,324)		(3.8)	%
Interest and fee income on Emerald Advance®	26,594		36,702		(10,108)		(27.5)	%
Total financial services	85,763		98,195		(12,432)		(12.7)	%
International	157,104		158,398		(1,294)		(0.8)	%
Wave	79,681		70,656		9,025		12.8	%
Total revenues	$	2,649,984	$	2,547,717	$	102,267	4.0	%
Compensation and benefits:
Field wages	682,575		650,529		(32,046)		(4.9)	%
Other wages	230,687		222,125		(8,562)		(3.9)	%
Benefits and other compensation	188,731		170,964		(17,767)		(10.4)	%
	1,101,993		1,043,618		(58,375)		(5.6)	%
Occupancy	326,026		319,843		(6,183)		(1.9)	%
Marketing and advertising	221,502		211,135		(10,367)		(4.9)	%
Depreciation and amortization	87,247		91,004		3,757		4.1	%
Bad debt	62,625		67,560		4,935		7.3	%
Other	393,900		360,111		(33,789)		(9.4)	%
Total operating expenses	2,193,293		2,093,271		(100,022)		(4.8)	%
Other income (expense), net	19,215		20,982		(1,767)		(8.4)	%
Interest expense on borrowings	(62,285)		(63,304)		1,019		1.6	%
Pretax income	413,621		412,124		1,497		0.4	%
Income taxes	104,580		72,527		(32,053)		(44.2)	%
Net income from continuing operations	309,041		339,597		(30,556)		(9.0)	%
Net loss from discontinued operations	(2,707)		(2,097)		(610)		(29.1)	%
Net income	$	306,334	$	337,500	$	(31,166)	(9.2)	%
DILUTED EARNINGS PER SHARE
Continuing operations	$	2.23	$	2.34	$	(0.11)	(4.7)	%
Discontinued operations	(0.02)		(0.02)		—		—	%
Consolidated	$	2.21	$	2.32	$	(0.11)	(4.7)	%
Adjusted diluted EPS(1)	$	2.41	$	2.54	$	(0.13)	(5.1)	%
EBITDA (1)	$	563,153	$	566,432	$	(3,279)	(0.6)	%

(1) All non-GAAP measures are results from continuing operations. See "Non-GAAP Financial Information" at the end of this item for a reconciliation of non-GAAP measures.


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Nine months ended March 31, 2025 compared to March 31, 2024

Revenues increased $102.3 million, or 4.0%, from the prior year. U.S. assisted tax preparation revenues increased $104.8 million, or 6.5%, primarily due to a 5.0% increase in net average charge combined with a 1.4% increase in company-owned tax return volumes in the current year. U.S. royalty revenue decreased $9.8 million, or 6.4%, primarily due to lower franchise tax return volumes which was primarily driven by franchise acquisitions. During the year we purchased franchise offices which results in increasing tax preparation revenues and decreasing royalties as the revenues and returns become company-owned after the acquisition. Through the nine months ended March 31, 2025 our total assisted tax return volume, which includes both company-owned and franchise offices, decreased 0.6% from the prior year.

U.S. DIY tax preparation revenues increased $16.1 million, or 7.5%, primarily due to a 8.4% increase in online paid net average charge and higher desktop software sales, partially offset by lower online paid volumes.

Interest and fee income on Emerald Advance® revenues decreased $10.1 million, or 27.5%, primarily due to a decrease in EA loans originated in the current year. Wave revenues increased $9.0 million, or 12.8%, due to higher accounting, invoicing and receipts subscriptions and small business payments processing volumes.

Total operating expenses increased $100.0 million, or 4.8%, from the prior year period. Field wages increased $32.0 million, or 4.9%, due to higher tax professional wages in the current year primarily due to the increase in company-owned volumes. Other wages increased $8.6 million, or 3.9%, primarily due to higher corporate wages due to salary increases in the current year. Benefits and other compensation increased $17.8 million, or 10.4%, due to higher payroll taxes, 401K match and higher employee insurance in the current year. Marketing and advertising expense increased $10.4 million, or 4.9%, due to the higher spend and lower vendor refunds for expired customer incentives in the current year.

Other operating expenses increased $33.8 million, or 9.4%. The components of other expenses are as follows:


							(in 000s)
Nine months ended March 31,	2025		2024		$ Change		% Change
Consulting and outsourced services	$	72,770	$	67,297	$	(5,473)	(8.1)	%
Bank partner fees	32,199		28,616		(3,583)		(12.5)	%
Client claims and refunds	18,696		17,463		(1,233)		(7.1)	%
Employee and travel expenses	27,164		26,429		(735)		(2.8)	%
Technology-related expenses	87,035		80,962		(6,073)		(7.5)	%
Credit card/bank charges	76,300		71,639		(4,661)		(6.5)	%
Insurance	12,444		8,071		(4,373)		(54.2)	%
Legal fees and settlements	29,640		19,715		(9,925)		(50.3)	%
Supplies	16,884		18,349		1,465		8.0	%
Other	20,768		21,570		802		3.7	%
	$	393,900	$	360,111	$	(33,789)	(9.4)	%

Legal expense increased $9.9 million, or 50.3%, primarily due to higher outside legal counsel spend.

We recorded income tax expense of $104.6 million in the current year compared to $72.5 million in the prior year. The effective tax rate for the nine months ended March 31, 2025, and 2024 was 25.3% and 17.6%, respectively. See Item 1, note 7 to the consolidated financial statements for additional discussion.

Assisted tax return volume, which includes our company-owned and franchise operations, decreased 0.8% from July 1, 2024 through April 30, 2025 compared to the prior year period. DIY online paid tax return volume from July 1, 2024 through April 30, 2025, decreased 0.3% compared to the prior year period. Our business is highly seasonal and results for the nine months ended March 31, as well as results for the period ended April 30, may not be indicative of results for the fiscal year ended June 30, 2025.


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FINANCIAL CONDITION

These comments should be read in conjunction with the consolidated balance sheets and consolidated statements of cash flows included in Part 1, Item 1.

CAPITAL RESOURCES AND LIQUIDITY –

OVERVIEW – Our primary sources of capital and liquidity include cash from operations (including changes in working capital), draws on our unsecured committed line of credit (CLOC), and issuances of debt. We use our sources of liquidity primarily to fund working capital, service and repay debt, pay dividends, repurchase shares of our common stock, and acquire businesses.

Our operations are highly seasonal and substantially all of our revenues and cash flow are generated during the period from February through April in a typical year. Therefore, we normally require the use of cash to fund losses and working capital needs, periodically resulting in a working capital deficit, during the months of May through January. We typically have relied on available cash balances from the prior tax season and borrowings to meet liquidity needs.

Given the likely availability of a number of liquidity options discussed herein, we believe that, in the absence of any unexpected developments, our existing sources of capital as of March 31, 2025 are sufficient to meet our operating, investing and financing needs.

DISCUSSION OF CONSOLIDATED STATEMENTS OF CASH FLOWS – The following table summarizes our statements of cash flows for the nine months ended March 31, 2025 and 2024. See Item 1 for the complete consolidated statements of cash flows for these periods.


	(in 000s)
Nine months ended March 31,	2025		2024
Net cash provided by (used in):
Operating activities	$	429,322	$	420,264
Investing activities	(110,890)		(99,643)
Financing activities	(595,506)		(520,503)
Effects of exchange rates on cash	(8,429)		(2,739)
Net decrease in cash and cash equivalents, including restricted balances	$	(285,503)	$	(202,621)

Operating Activities. Cash provided by operations totaled $429.3 million for the nine months ended March 31, 2025 compared to $420.3 million in the prior year period. The increase is primarily due to changes in accounts payable and accounts receivable, partially offset by a lower net income in the current year.

Investing Activities. Cash used in investing activities totaled $110.9 million for the nine months ended March 31, 2025 compared to $99.6 million in the prior year period. The change is primarily due to higher capital expenditures, partially offset by lower payments made for business acquisitions in the current year.

Financing Activities. Cash used in financing activities totaled $595.5 million for the nine months ended March 31, 2025 compared to $520.5 million in the prior year period. The change is primarily due to higher repurchases of common stock and dividends in the current year.

CASH REQUIREMENTS –

Dividends and Share Repurchases. Returning capital to shareholders in the form of dividends and the repurchase of outstanding shares is, and has historically been, a significant component of our capital allocation plan.

We have consistently paid quarterly dividends. Dividends paid totaled $147.1 million and $135.1 million for the nine months ended March 31, 2025 and 2024, respectively. Although we have historically paid dividends and plan to continue to do so, there can be no assurances that circumstances will not change in the future that could affect our ability or decisions to pay dividends.


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On August 15, 2024, the Board of Directors approved a $1.5 billion share repurchase program. The repurchase program does not have an expiration date and replaced the previously existing share repurchase program. During the nine months ended March 31, 2025, we repurchased $400.1 million of our common stock at an average price of $61.10 per share, excluding excise taxes in connection with such repurchases. In the prior year period, we repurchased $350.1 million of our common stock at an average price of $43.66 per share, excluding excise taxes in connection with such repurchases. Our current share repurchase program has remaining authorization of $1.1 billion and does not have an expiration date.

Share repurchases may be effectuated through open market transactions, some of which may be effectuated under SEC Rule 10b5-1. The Company may cancel, suspend, or extend the period for the purchase of shares at any time. Any repurchases will be funded primarily through available cash and cash from operations. Although we may continue to repurchase shares, there is no assurance that we will purchase up to the full Board authorization.

Capital Investment. Capital expenditures totaled $71.8 million and $53.8 million for the nine months ended March 31, 2025 and 2024, respectively. Our capital expenditures relate primarily to recurring improvements to retail offices, as well as investments in computers, software and related assets. In addition to our capital expenditures, we also made payments to acquire businesses. We acquired franchisee and competitor businesses totaling $35.3 million and $43.2 million during the nine months ended March 31, 2025 and 2024, respectively. See Item 1, note 5 for additional information on our acquisitions.

FINANCING RESOURCES – The CLOC has capacity up to $1.5 billion and is scheduled to expire in June 2026. Proceeds under the CLOC may be used for working capital needs or for other general corporate purposes. We had no outstanding balance under our CLOC and amounts available to borrow were not limited by the debt-to-EBITDA covenant as of March 31, 2025.

Our Senior Notes due in October 2025 (2025 Senior Notes) are classified as a current liability as of March 31, 2025. We are considering various financing options in regard to the maturing 2025 Senior Notes and anticipate these options will provide adequate liquidity to fund the cash requirements at or prior to maturity.

The following table provides ratings for debt issued by Block Financial LLC (Block Financial) as of March 31, 2025 and June 30, 2024:

As of

March 31, 2025

June 30, 2024

Short-term

Long-term

Outlook

Short-term

Long-term

Outlook

Moody's

P-3

Baa3

Stable

P-3

Baa3

Stable

S&P

A-2

BBB

Stable

A-2

BBB

Stable

Other than described above, there have been no material changes in our borrowings from those reported as of June 30, 2024 in our Annual Report on Form 10-K.

CASH AND OTHER ASSETS – As of March 31, 2025, we held cash and cash equivalents, excluding restricted amounts, of $772.9 million, including $153.0 million held by our foreign subsidiaries.

Foreign Operations. Seasonal borrowing needs of our Canadian operations are typically funded by our U.S. operations. To mitigate foreign currency risk, we sometimes enter into foreign exchange forward contracts. There were no forward contracts outstanding as of March 31, 2025.

We do not currently intend to repatriate non-borrowed funds held by our foreign subsidiaries in a manner that would trigger a tax liability.

The impact of changes in foreign exchange rates during the period on our international cash balances resulted in a decrease of $8.4 million during the nine months ended March 31, 2025 and in a decrease of $2.7 million during the nine months ended March 31, 2024.

CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS – The Company entered into an agreement to purchase federal Investment tax credits (ITC). During the nine months ended March 31, 2025, we paid $22.9 million for ITCs. As of March 31, 2025, the Company has a remaining commitment to purchase additional ITCs, for


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approximately $75.1 million if certain conditions set forth in the agreement are satisfied, with the final closing payment anticipated to occur by June 30, 2025.

Effective October 18, 2024, we amended our Program Management Agreement (PMA) with Pathward®, N.A to extend the term of the PMA for two years until June 30, 2027. We purchased participation interests in EAs of $260.6 million during the nine months ended March 31, 2025. See Item 1, note 8 for additional information on our commitments.

There have been no other material changes in our contractual obligations and commercial commitments from those reported in our June 30, 2024 Annual Report on Form 10-K.

SUMMARIZED GUARANTOR FINANCIAL STATEMENTS – Block Financial is a 100% owned subsidiary of H&R Block, Inc. Block Financial is the Issuer and H&R Block, Inc. is the full and unconditional Guarantor of our Senior Notes, CLOC and other indebtedness issued from time to time.

The following table presents summarized financial information for H&R Block, Inc. (Guarantor) and Block Financial (Issuer) on a combined basis after intercompany eliminations and excludes investments in and equity earnings in non-guarantor subsidiaries.


SUMMARIZED BALANCE SHEET - GUARANTOR AND ISSUER			(in 000s)
As of	March 31, 2025		June 30, 2024
Current assets	$	74,093	$	44,423
Noncurrent assets	1,789,807		1,778,832
Current liabilities	432,944		77,848
Noncurrent liabilities	1,148,515		1,492,211


SUMMARIZED STATEMENTS OF OPERATIONS - GUARANTOR AND ISSUER			(in 000s)
	Nine months ended March 31, 2025		Twelve months ended June 30, 2024
Total revenues	$	104,642	$	144,206
Income from continuing operations before income taxes	45,242		75,819
Net income from continuing operations	34,837		57,441
Net income	32,129		54,795

The table above reflects $1.7 billion of non-current intercompany receivables due to the Issuer from non-guarantor subsidiaries as of March 31, 2025 and June 30, 2024.

REGULATORY ENVIRONMENT

There have been no material changes in our regulatory environment from what was reported in our June 30, 2024 Annual Report on Form 10-K.

NON-GAAP FINANCIAL INFORMATION

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. generally accepted accounting principles (GAAP). Because these measures are not measures of financial performance under GAAP and are susceptible to varying calculations, they may not be comparable to similarly titled measures for other companies.

We consider our non-GAAP financial measures to be performance measures and a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business. We make adjustments for certain non-GAAP financial measures related to amortization of intangibles from acquisitions and goodwill impairments. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures.

We measure the performance of our business using a variety of metrics, including earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations, adjusted EBITDA from continuing


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operations, adjusted diluted earnings per share from continuing operations, free cash flow and free cash flow yield. We also use EBITDA from continuing operations and pretax income of continuing operations, each subject to permitted adjustments, as performance metrics in incentive compensation calculations for our employees.

The following is a reconciliation of net income to EBITDA from continuing operations, which is a non-GAAP financial measure:


							(in 000s)
	Three months ended March 31,				Nine months ended March 31,
	2025		2024		2025		2024
Net income - as reported	$	722,330	$	690,737	$	306,334	$	337,500
Discontinued operations, net	598		849		2,707		2,097
Net income from continuing operations - as reported	722,928		691,586		309,041		339,597
Add back:
Income taxes	235,253		215,772		104,580		72,527
Interest expense	24,686		26,070		62,285		63,304
Depreciation and amortization	29,221		30,672		87,247		91,004
	289,160		272,514		254,112		226,835
EBITDA from continuing operations	$	1,012,088	$	964,100	$	563,153	$	566,432

The following is a reconciliation of our results from continuing operations to our adjusted results from continuing operations, which is a non-GAAP financial measure:


(in 000s, except per share amounts)
	Three months ended March 31,				Nine months ended March 31,
	2025		2024		2025		2024
Net income from continuing operations - as reported	$	722,928	$	691,586	$	309,041	$	339,597
Adjustments:
Amortization of intangibles related to acquisitions (pretax)	11,278		12,869		33,316		37,693
Tax effect of adjustments (1)	(2,927)		(2,793)		(8,111)		(8,815)
Adjusted net income from continuing operations	$	731,279	$	701,622	$	334,246	$	368,475
Diluted earnings per share from continuing operations - as reported	$	5.32	$	4.87	$	2.23	$	2.34
Adjustments, net of tax	0.06		0.07		0.18		0.20
Adjusted diluted earnings per share from continuing operations	$	5.38	$	4.94	$	2.41	$	2.54

(1)Tax effect of adjustments is the difference between the tax provision calculated on a GAAP basis and on an adjusted non-GAAP basis.

FORWARD-LOOKING INFORMATION

This report and other documents filed with the Securities and Exchange Commission (SEC) may contain forward-looking statements. In addition, our senior management may make forward-looking statements orally to analysts, investors, the media and others. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "commits," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "could," "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues, client trajectory, income, effective tax rate, earnings per share, cost savings, capital expenditures, dividends, share repurchases, liquidity, capital structure,


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market share, industry volumes or other financial items, descriptions of management's plans or objectives for future operations, services or products, or descriptions of assumptions underlying any of the above. They may also include the expected impact of external events beyond the Company's control, such as outbreaks of infectious disease, severe weather events, natural or manmade disasters, or changes in the regulatory environment in which we operate.

All forward-looking statements speak only as of the date they are made and reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data or methods, future events or other changes, except as required by law.

By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, operational and regulatory factors, many of which are beyond the Company's control. In addition, factors that may cause the Company’s actual effective tax rate to differ from estimates include the Company’s actual results from operations compared to current estimates, future discrete items, changes in interpretations and assumptions the Company has made, future actions of the Company, and increases in applicable tax rates in jurisdictions where the Company operates. Investors should understand that it is not possible to predict or identify all such factors and, consequently, should not consider any such list to be a complete set of all potential risks or uncertainties.

Details about risks, uncertainties and assumptions that could affect various aspects of our business are included throughout our Annual Report on Form 10-K for the fiscal year ended June 30, 2024 and are also described from time to time in other filings with the SEC. Investors should carefully consider all of these risks, and should pay particular attention to Item 1A, "Risk Factors," and Item 7 under "Critical Accounting Policies" of our Annual Report on Form 10-K for the fiscal year ended June 30, 2024.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There have been no material changes in our market risks from those reported in our June 30, 2024 Annual Report on Form 10-K.

ITEM 4. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES – As of the end of the period covered by this Form 10-Q, management, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)). Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of the end of the period covered by this Quarterly Report on Form 10-Q.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING – There were no changes during the three months ended March 31, 2025 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

For a description of our material pending legal proceedings, see discussion in Part I, Item 1, note 9 to the consolidated financial statements.

ITEM 1A. RISK FACTORS

There have been no material changes in our risk factors from those reported in our June 30, 2024 Annual Report on Form 10-K.


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ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

A summary of our purchases of H&R Block common stock during the three months ended March 31, 2025 is as follows:


(in 000s, except per share amounts)
	Total Number of Shares Purchased (1)	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)	Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2)
January 1 - January 31	4	$	55.23	—	$	1,100,000
February 1 - February 28	2	$	54.43	—	$	1,100,000
March 1 - March 31	—	$	—	—	$	1,100,000
	6	$	55.05	—

(1)We purchased approximately 6 thousand shares in connection with funding employee income tax withholding obligations arising upon the lapse of restrictions on restricted share units.

(2)On August 15, 2024, we announced that our Board of Directors approved a $1.5 billion share repurchase program. The repurchase program does not have an expiration date.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

Director and Section 16 Officer Trading Arrangements

During the three months ended March 31, 2025, no director or Section 16 officer adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.


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ITEM 6. EXHIBITS

The following exhibits are numbered in accordance with the Exhibit Table of Item 601 of Regulation S-K:


22			List of Guarantor and Issuer Subsidiaries, filed as Exhibit 22 to the Company’s Annual Report on Form 10-K for the year ended June 30, 2024, file number 1-06089, is incorporated herein by reference.
31.1			Certification by Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2			Certification by Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1			Certification by Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002.
32.2			Certification by Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS			Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
101.SCH			Inline XBRL Taxonomy Extension Schema
101.CAL			Inline XBRL Extension Calculation Linkbase
101.LAB			Inline XBRL Taxonomy Extension Label Linkbase
101.PRE			Inline XBRL Taxonomy Extension Presentation Linkbase
101.DEF			Inline XBRL Taxonomy Extension Definition Linkbase
104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


26			Q3 FY2025 Form 10-Q\| H&R Block, Inc.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


H&R BLOCK, INC.

/s/ Jeffrey J. Jones II
Jeffrey J. Jones II
President and Chief Executive Officer
May 7, 2025

/s/ Tiffany L. Mason
Tiffany L. Mason
Chief Financial Officer
May 7, 2025

/s/ Kellie J. Logerwell
Kellie J. Logerwell
Chief Accounting Officer
May 7, 2025


H&R Block, Inc. \|Q3 FY2025 Form 10-Q			27

EX-31.1 2 hrbq3fy25exhibit311.htm EX-31.1 Document

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Jeffrey J. Jones II, Chief Executive Officer, certify that:

1. I have reviewed this quarterly report on Form 10-Q of H&R Block, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.


Date:	May 7, 2025	/s/ Jeffrey J. Jones II
		Jeffrey J. Jones II
		Chief Executive Officer H&R Block, Inc.

EX-31.2 3 hrbq3fy25exhibit312.htm EX-31.2 Document

Exhibit 31.2

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Tiffany L. Mason, Chief Financial Officer, certify that:

1. I have reviewed this quarterly report on Form 10-Q of H&R Block, Inc.;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.


Date:	May 7, 2025	/s/ Tiffany L. Mason
		Tiffany L. Mason
		Chief Financial Officer H&R Block, Inc.

EX-32.1 4 hrbq3fy25exhibit321.htm EX-32.1 Document

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of H&R Block, Inc. (the “Company”) on Form 10‑Q for the fiscal quarter ended March 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Jeffrey J. Jones II, Chief Executive Officer of the Company, certify pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.


/s/ Jeffrey J. Jones II
Jeffrey J. Jones II Chief Executive Officer H&R Block, Inc.
May 7, 2025

EX-32.2 5 hrbq3fy25exhibit322.htm EX-32.2 Document

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of H&R Block, Inc. (the “Company”) on Form 10‑Q for the fiscal quarter ended March 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Tiffany L. Mason, Chief Financial Officer of the Company, certify pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.


/s/ Tiffany L. Mason
Tiffany L. Mason Chief Financial Officer H&R Block, Inc.
May 7, 2025

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Cover - shares	9 Months Ended
Cover - shares	Mar. 31, 2025	Apr. 30, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2025
Document Transition Report	false
Entity File Number	1-06089
Entity Registrant Name	H&R Block, Inc.
Entity Incorporation, State or Country Code	MO
Entity Tax Identification Number	44-0607856
Entity Address, Address Line One	One H&R Block Way
Entity Address, City or Town	Kansas City
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	64105
City Area Code	816
Local Phone Number	854-3000
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	HRB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000012659
Current Fiscal Year End Date	--06-30
Entity Common Stock, Shares Outstanding		133,880,414

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2021
REVENUES:
Total revenues	$ 2,277,104	$ 2,184,834	$ 2,649,984	$ 2,547,717
OPERATING EXPENSES:
Costs of revenues	969,392	926,008	1,553,182	1,485,193
Selling, general and administrative	329,399	330,622	640,111	608,078
Total operating expenses	1,298,791	1,256,630	2,193,293	2,093,271
Other income (expense), net	4,554	5,224	19,215	20,982
Interest expense on borrowings	(24,686)	(26,070)	(62,285)	(63,304)
Income from continuing operations before income taxes	958,181	907,358	413,621	412,124
Income taxes	235,253	215,772	104,580	72,527
Net income from continuing operations	722,928	691,586	309,041	339,597
Net loss from discontinued operations, net of tax benefits of $180, $254, $811 and $627	(598)	(849)	(2,707)	(2,097)
NET INCOME	$ 722,330	$ 690,737	$ 306,334	$ 337,500
BASIC EARNINGS PER SHARE:
Continuing operations	$ 5.38	$ 4.94	$ 2.26	$ 2.37
Diluted	5.32	4.87	2.23	2.34	$ 2.34
Discontinued operations (in dollars per share)	(0.01)	(0.01)	(0.02)		(0.02)
Earnings Per Share, Diluted	5.31	4.86	2.21		$ 2.32
Discontinued operations	(0.01)	(0.01)	(0.02)	(0.01)
Consolidated	5.37	4.93	2.24	2.36
Dividends declared per share (in usd per share)	$ 0.375	$ 0.32	$ 1.125	$ 0.96
COMPREHENSIVE INCOME:
Net income	$ 722,330	$ 690,737	$ 306,334	$ 337,500
Change in foreign currency translation adjustments	445	(9,882)	(22,472)	(9,237)
Other comprehensive income (loss)	445	(9,882)	(22,472)	(9,237)
Comprehensive income	722,775	680,855	283,862	328,263
Service revenues
REVENUES:
Total revenues	2,099,481	1,993,556	2,434,220	2,314,363
Royalty, product and other revenues
REVENUES:
Total revenues	$ 177,623	$ 191,278	$ 215,764	$ 233,354

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2025	Mar. 31, 2024
Income Statement [Abstract]
Discontinued Operation, Tax Effect of Discontinued Operation	$ 180	$ 254	$ 811	$ 627

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-10

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-2

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483475/205-20-45-3A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5C

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 3B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483475/205-20-45-3B

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483475/205-20-45-4

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-1

+ Details

XML 15 R4.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2025	Jun. 30, 2024
ASSETS
Cash and cash equivalents	$ 772,946	$ 1,053,326
Cash and cash equivalents - restricted	16,744	21,867
Receivables, less allowance for credit losses of $49,315 and $61,182	352,398	69,075
Prepaid expenses and other current assets	104,450	95,208
Total current assets	1,246,538	1,239,476
Property and equipment, at cost, less accumulated depreciation and amortization of $864,681 and $838,814	146,456	131,319
Operating lease right of use assets	417,197	461,986
Intangible assets, net	270,007	264,102
Goodwill	785,936	785,226
Deferred tax assets and income taxes receivable	308,989	271,658
Other noncurrent assets	69,888	65,043
Total assets	3,245,011	3,218,810
LIABILITIES:
Accounts payable and accrued expenses	243,754	155,830
Accrued salaries, wages and payroll taxes	269,849	105,548
Accrued income taxes and reserves for uncertain tax positions	346,733	318,830
Current portion of long-term debt	349,787	0
Operating lease liabilities	173,902	206,070
Deferred revenue and other current liabilities	205,778	191,050
Total current liabilities	1,589,803	977,328
Long-term debt and line of credit borrowings	1,142,890	1,491,095
Deferred tax liabilities and reserves for uncertain tax positions	337,634	291,063
Operating lease liabilities	252,630	265,373
Deferred revenue and other noncurrent liabilities	114,892	103,357
Total liabilities	3,437,849	3,128,216
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock, no par, stated value $0.01 per share, 800,000,000 shares authorized, shares issued of 164,367,434 and 170,915,771	1,644	1,709
Additional paid-in capital	758,821	762,583
Accumulated other comprehensive loss	(71,317)	(48,845)
Retained earnings (deficit)	(236,909)	12,654
Less treasury shares, at cost, of 30,487,639 and 31,324,609	(645,077)	(637,507)
Total stockholders' equity (deficiency)	(192,838)	90,594
Total liabilities and stockholders' equity	$ 3,245,011	$ 3,218,810
Treasury stock, shares (in shares)	30,487,639	31,324,609

XML 16 R5.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2025	Jun. 30, 2024
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 49,315	$ 61,182
Accumulated depreciation and amortization	$ 864,681	$ 838,814
Common stock, stated value per share (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	800,000,000	800,000,000
Common stock, shares issued (in shares)	164,367,434	170,915,771
Treasury stock, shares (in shares)	30,487,639	31,324,609

XML 17 R6.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	3 Months Ended	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Mar. 31, 2024 USD ($)	Mar. 31, 2025 USD ($)	Mar. 31, 2024 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 690,737	$ 306,334	$ 337,500
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		87,247	91,004
Provision for credit losses		56,042	61,359
Deferred taxes		(12,503)	(58,223)
Stock-based compensation		25,420	25,310
Changes in assets and liabilities, net of acquisitions:
Receivables		(335,605)	(348,106)
Prepaid expenses, other current and noncurrent assets		(7,504)	(18,037)
Accounts payable, accrued expenses, salaries, wages and payroll taxes		240,246	223,045
Deferred revenue, other current and noncurrent liabilities		20,684	12,483
Income tax receivables, accrued income taxes and income tax reserves		50,049	93,961
Other, net		(1,088)	(32)
Net cash provided by operating activities		429,322	420,264
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures		(71,784)	(53,831)
Payments made for business acquisitions, net of cash acquired		(35,323)	(43,163)
Franchise loans funded		(21,455)	(18,815)
Payments from franchisees		11,478	12,884
Other, net		6,194	3,282
Net cash used in investing activities		(110,890)	(99,643)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of Long-Term Lines of Credit		(1,950,000)	(1,025,000)
Proceeds from Long-Term Lines of Credit		1,950,000	1,025,000
Dividends paid		(147,136)	(135,127)
Repurchase of common stock, including shares surrendered		(436,516)	(379,018)
Other, net		(11,854)	(6,358)
Net cash used in financing activities		(595,506)	(520,503)
Effects of exchange rate changes on cash		(8,429)	(2,739)
Net decrease in cash and cash equivalents, including restricted balances		(285,503)	(202,621)
Cash, cash equivalents and restricted cash, beginning of period		1,075,193	1,015,316
Cash, cash equivalents and restricted cash, end of period	812,695	789,690	812,695
SUPPLEMENTARY CASH FLOW DATA:
Income taxes paid, net (includes payments for purchased investment tax credits)	35,888	65,505
Interest paid on borrowings	66,464	63,251
Accrued additions to property and equipment	1,477	2,448
New operating right of use assets and related lease liabilities	139,872	135,372
Accrued dividends payable to common shareholders	$ 44,648	$ 50,194	$ 44,648

XML 18 R7.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands

Total

Common Stock

Additional Paid-in Capital

Accumulated Other Comprehensive Loss(1)

Retained Earnings (Deficit)

Treasury Stock, Common

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Treasury stock, shares (in shares)

32,786,000

Beginning Balances, (in shares) at Jun. 30, 2023

178,936,000

Beginning Balances, Value at Jun. 30, 2023

$ 32,064

$ 1,789

$ 770,376

$ (37,099)

^[1]

$ (48,677)

$ (654,325)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

(163,482)

Other comprehensive income (loss)

(10,914)

^[1]

Stock-based compensation

6,211

Stock-based awards exercised or vested

(98)

(34,226)

(3,220)

$ 37,348

Stock-based awards exercised or vested (in shares)

1,867,000

Acquisition of treasury shares (in shares)

^[2]

(823,000)

Acquisition of treasury shares(2)

^[2]

(28,464)

$ (28,464)

Cash dividends declared - $0.375 per share

(46,901)

Ending Balances, Value at Sep. 30, 2023

(344,884)

740,434

(48,013)

^[1]

(393,621)

(645,441)

Beginning Balances, (in shares) at Jun. 30, 2023

178,936,000

Beginning Balances, Value at Jun. 30, 2023

32,064

$ 1,789

770,376

(37,099)

^[1]

(48,677)

(654,325)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

337,500

Ending Balances, (in shares) at Mar. 31, 2024

170,916,000

Ending Balances, Value at Mar. 31, 2024

$ (129,806)

$ 1,709

753,605

(46,336)

(200,296)

$ (638,488)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Dividends declared per share (in usd per share)

$ 0.96

Stock-based compensation

$ 25,300

Treasury stock, shares (in shares)

31,742,000

Beginning Balances, Value at Sep. 30, 2023

(344,884)

740,434

(48,013)

^[1]

(393,621)

$ (645,441)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

(189,755)

Other comprehensive income (loss)

11,559

Stock-based compensation

9,270

Stock-based awards exercised or vested

6,876

(165)

(46)

$ 7,087

Stock-based awards exercised or vested (in shares)

348,000

Acquisition of treasury shares (in shares)

(3,000)

Acquisition of treasury shares(2)

(125)

$ (125)

Repurchase and retirement of common shares (in shares)

(3,265,000)

Repurchase and retirement of common shares

(133,300)

$ (32)

(1,927)

(131,341)

Cash dividends declared - $0.375 per share

(45,273)

Ending Balances, (in shares) at Dec. 31, 2023

175,671,000

Ending Balances, Value at Dec. 31, 2023

$ (772,652)

$ 1,757

746,734

(36,454)

(846,162)

$ (638,479)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Dividends declared per share (in usd per share)

$ 0.32

Treasury stock, shares (in shares)

31,397,000

Net income

$ 690,737

690,737

Other comprehensive income (loss)

(9,882)

Stock-based compensation

7,140

Stock-based awards exercised or vested

(192)

(269)

(223)

$ 300

Stock Issued During Period, Value, Other

Stock-based awards exercised or vested (in shares)

16,000

Acquisition of treasury shares (in shares)

(7,000)

Acquisition of treasury shares(2)

(309)

$ (309)

Repurchase and retirement of common shares (in shares)

(4,755,000)

Repurchase and retirement of common shares

(220,320)

$ (48)

(2,805)

(217,467)

Cash dividends declared - $0.375 per share

(44,648)

Ending Balances, (in shares) at Mar. 31, 2024

170,916,000

Ending Balances, Value at Mar. 31, 2024

$ (129,806)

$ 1,709

753,605

(46,336)

(200,296)

$ (638,488)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Dividends declared per share (in usd per share)

$ 0.32

Stock-based compensation

$ 7,800

Treasury stock, shares (in shares)

31,388,000

Treasury stock, shares (in shares)

31,324,609

31,325,000

Beginning Balances, (in shares) at Jun. 30, 2024

170,916,000

Beginning Balances, Value at Jun. 30, 2024

$ 90,594

$ 1,709

762,583

(48,845)

^[1]

12,654

$ (637,507)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

(172,576)

Other comprehensive income (loss)

6,117

^[1]

Stock-based compensation

7,463

Stock-based awards exercised or vested

247

(23,990)

(2,611)

$ 26,848

Stock-based awards exercised or vested (in shares)

1,319,000

Acquisition of treasury shares (in shares)

^[2]

(567,000)

Acquisition of treasury shares(2)

^[2]

(35,882)

$ (35,882)

Cash dividends declared - $0.375 per share

(52,307)

Ending Balances, Value at Sep. 30, 2024

(368,065)

744,076

(42,728)

^[1]

(424,548)

(646,541)

Beginning Balances, (in shares) at Jun. 30, 2024

170,916,000

Beginning Balances, Value at Jun. 30, 2024

90,594

$ 1,709

762,583

(48,845)

^[1]

12,654

(637,507)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

306,334

Ending Balances, (in shares) at Mar. 31, 2025

164,367,000

Ending Balances, Value at Mar. 31, 2025

$ (192,838)

$ 1,644

758,821

(71,317)

(236,909)

$ (645,077)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Dividends declared per share (in usd per share)

$ 1.125

Stock-based compensation

$ 25,400

Treasury stock, shares (in shares)

30,573,000

Beginning Balances, Value at Sep. 30, 2024

(368,065)

744,076

(42,728)

^[1]

(424,548)

$ (646,541)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

(243,420)

Other comprehensive income (loss)

(29,034)

^[1]

Stock-based compensation

9,156

Stock-based awards exercised or vested

1,709

810

(245)

$ 1,144

Stock-based awards exercised or vested (in shares)

54,000

Acquisition of treasury shares (in shares)

(4,000)

Acquisition of treasury shares(2)

(253)

$ (253)

Repurchase and retirement of common shares (in shares)

(3,301,000)

Repurchase and retirement of common shares

(211,721)

$ (33)

(1,980)

(209,708)

Cash dividends declared - $0.375 per share

(50,176)

Ending Balances, (in shares) at Dec. 31, 2024

167,615,000

Ending Balances, Value at Dec. 31, 2024

$ (872,460)

$ 1,676

752,093

(71,762)

^[1]

(908,785)

$ (645,650)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Dividends declared per share (in usd per share)

$ 0.375

Treasury stock, shares (in shares)

30,523,000

Net income

$ 722,330

722,330

Other comprehensive income (loss)

445

Stock-based compensation

7,424

Stock-based awards exercised or vested

(100)

(696)

(260)

$ 856

Stock-based awards exercised or vested (in shares)

41,000

Acquisition of treasury shares (in shares)

(6,000)

Acquisition of treasury shares(2)

(283)

$ (283)

Repurchase and retirement of common shares (in shares)

(3,248,000)

Repurchase and retirement of common shares

(192,377)

$ (32)

(1,949)

(190,396)

Cash dividends declared - $0.375 per share

(50,194)

Ending Balances, (in shares) at Mar. 31, 2025

164,367,000

Ending Balances, Value at Mar. 31, 2025

$ (192,838)

$ 1,644

$ 758,821

$ (71,317)

$ (236,909)

$ (645,077)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Dividends declared per share (in usd per share)

$ 0.375

Stock-based compensation

$ 7,500

Treasury stock, shares (in shares)

30,487,639

30,488,000

[1]	The balance of our accumulated other comprehensive loss consists of foreign currency translation adjustments.
[2]	Represents shares swapped or surrendered to us in connection with the vesting or exercise of stock-based awards.

XML 19 R8.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended				9 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2025	Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (in usd per share)	$ 0.375	$ 0.375	$ 0.32	$ 0.32	$ 1.125	$ 0.96

XML 20 R9.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2025
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION – The consolidated balance sheets as of March 31, 2025 and June 30, 2024, the consolidated statements of operations and comprehensive income for the three and nine months ended March 31, 2025 and 2024, the consolidated statements of cash flows for the nine months ended March 31, 2025 and 2024, and the consolidated statements of stockholders' equity for the three and nine months ended March 31, 2025 and 2024 have been prepared by the Company, without audit. In the opinion of management, all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position, results of operations, and cash flows as of March 31, 2025 and 2024 and for all periods presented, have been made. "H&R Block," "the Company," "we," "our," and "us" are used interchangeably to refer to H&R Block, Inc., to H&R Block, Inc. and its subsidiaries, or to H&R Block, Inc.'s operating subsidiaries, as appropriate to the context. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our June 30, 2024 Annual Report on Form 10-K. All amounts presented herein as of June 30, 2024 or for the year then ended are derived from our Annual Report on Form 10-K. MANAGEMENT ESTIMATES – The preparation of financial statements in conformity with 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 associated with pending claims and litigation, reserves for uncertain tax positions, and fair value of reporting units. 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. SEASONALITY OF BUSINESS – Our operating revenues are seasonal in nature with peak revenues typically occurring in the months of February through April. Therefore, results for interim periods are not indicative of results to be expected for the full year. DISCONTINUED OPERATIONS – Our discontinued operations include the results of operations of Sand Canyon Corporation, previously known as Option One Mortgage Corporation, which exited its mortgage business in fiscal year 2008.

XML 21 R10.htm IDEA: XBRL DOCUMENT

REVENUE RECOGNITION

9 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

NOTE 2: REVENUE RECOGNITION


							(in 000s)
	Three months ended March 31,				Nine months ended March 31,
	2025		2024		2025		2024
Revenues:
U.S. assisted tax preparation	$	1,635,877	$	1,534,825	$	1,727,220	$	1,622,430
U.S. royalties	133,961		141,915		143,312		153,070
U.S. DIY tax preparation	214,666		198,570		231,646		215,529
Refund Transfers	113,732		118,937		115,229		120,892
Peace of Mind® Extended Service Plan	15,625		16,813		54,867		59,100
Tax Identity Shield®	7,025		7,536		14,947		16,810
Emerald Card® and SpruceSM	40,195		41,160		59,169		61,493
Interest and fee income on Emerald Advance®	14,286		21,169		26,594		36,702
International	60,438		68,264		157,104		158,398
Wave	26,717		23,580		79,681		70,656
Other	14,582		12,065		40,215		32,637
Total revenues	$	2,277,104	$	2,184,834	$	2,649,984	$	2,547,717

Changes in the balances of deferred revenue and wages for our Peace of Mind® Extended Service Plan (POM) are as follows:


							(in 000s)
POM	Deferred Revenue				Deferred Wages
Nine months ended March 31,	2025		2024		2025		2024
Balance, beginning of the period	$	156,610	$	167,257	$	20,212	$	21,828
Amounts deferred	70,536		72,369		7,222		8,324
Amounts recognized on previous deferrals	(64,885)		(68,445)		(8,396)		(8,324)
Balance, end of the period	$	162,261	$	171,181	$	19,038	$	21,828

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

XML 22 R11.htm IDEA: XBRL DOCUMENT

EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY

9 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY

NOTE 3: EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY

respectively, and one thousand and 0.2 million shares for the three and nine months ended March 31, 2024, respectively, as the effect would be antidilutive.

The computations of basic and diluted earnings per share from continuing operations are as follows:


(in 000s, except per share amounts)
	Three months ended March 31,				Nine months ended March 31,
	2025		2024		2025		2024
Net income from continuing operations attributable to shareholders	$	722,928	$	691,586	$	309,041	$	339,597
Amounts allocated to participating securities	(3,442)		(2,788)		(1,408)		(1,350)
Net income from continuing operations attributable to common shareholders	$	719,486	$	688,798	$	307,633	$	338,247

Basic weighted average common shares	133,853		139,525		136,207		142,724
Potential dilutive shares	1,476		2,015		1,737		1,870
Dilutive weighted average common shares	135,329		141,540		137,944		144,594

Earnings per share from continuing operations attributable to common shareholders:
Basic	$	5.38	$	4.94	$	2.26	$	2.37
Diluted	5.32		4.87		2.23		2.34

The decrease in the weighted average shares outstanding is due to share repurchases completed in the current and prior fiscal years.

XML 23 R12.htm IDEA: XBRL DOCUMENT

RECEIVABLES

9 Months Ended

Mar. 31, 2025

Accounts, Notes, Loans and Financing Receivable, Unclassified [Abstract]

RECEIVABLES

NOTE 4: RECEIVABLES

Receivables, net of their related allowance, consist of the following:


(in 000s)
As of	March 31, 2025				June 30, 2024
	Short-term		Long-term		Short-term		Long-term
Loans to franchisees	$	17,267	$	17,979	$	5,917	$	16,498
Receivables for U.S. assisted and DIY tax preparation and related fees	221,510		9,282		18,440		5,332
H&R Block's Instant Refund® receivables	24,162		808		2,947		207
Emerald Advance®	22,385		22,635		17,867		21,360
Software receivables from retailers	11,097		—		1,029		—
Royalties and other receivables from franchisees	32,394		—		5,808		—
Wave payment processing receivables	1,801		—		1,078		—
Other	21,782		612		15,989		427
Total	$	352,398	$	51,316	$	69,075	$	43,824

Balances presented above as short-term are included in receivables, while the long-term portions are included in other noncurrent assets in the consolidated balance sheets.

Balances and amounts on non-accrual status, classified as impaired, or more than 60 days past due, by tax return year of origination, as of March 31, 2025 are as follows:


			(in 000s)

Tax return year of origination	Balance		More Than 60 Days Past Due
2024	$	24,713	$	—
2023 and prior	1,027		1,027

	25,740		$	1,027
Allowance	(770)
Net balance	$	24,970

Balances and amounts on non-accrual status, classified as impaired, or more than 60 days past due, by fiscal year of origination, as of March 31, 2025 are as follows:


(in 000s)
Fiscal year of origination	Balance		Non-Accrual
2025	$	40,017	$	—
2024 and prior	24,374		24,374

	64,391		$	24,374
Allowance	(19,371)
Net balance	$	45,020

ALLOWANCE FOR CREDIT LOSSES – Activity in the allowance for credit losses for EA and all other short-term and long-term receivables for the nine months ended March 31, 2025 and 2024 is as follows:


(in 000s)
	EAs		All Other		Total
Balances as of July 1, 2024	$	33,536	$	45,327	$	78,863
Provision for credit losses	19,371		36,671		56,042
Charge-offs, recoveries and other	(33,536)		(45,864)		(79,400)
Balances as of March 31, 2025	$	19,371	$	36,134	$	55,505
Balances as of July 1, 2023	$	27,386	$	35,108	$	62,494
Provision for credit losses	21,011		40,348		61,359
Charge-offs, recoveries and other	(27,714)		(37,455)		(65,169)
Balances as of March 31, 2024	$	20,683	$	38,001	$	58,684

XML 24 R13.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 5: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the nine months ended March 31, 2025 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of July 1, 2024	$	923,523	$	(138,297)	$	785,226

Acquisitions(1)	15,374		—		15,374
Disposals and foreign currency changes, net	(14,664)		—		(14,664)
Impairments	—		—		—
Balances as of March 31, 2025	$	924,233	$	(138,297)	$	785,936

(1) All goodwill added during the period is expected to be tax-deductible for federal income tax reporting.

In conjunction with our annual impairment test, we tested goodwill for impairment during the quarter and did not identify any impairment.

Components of intangible assets are as follows:


(in 000s)
	Gross Carrying Amount		Accumulated Amortization		Net
As of March 31, 2025:
Reacquired franchise rights	$	415,419	$	(239,452)	$	175,967
Customer relationships	358,442		(286,040)		72,402
Internally-developed software	124,420		(122,357)		2,063
Noncompete agreements	23,190		(20,081)		3,109
Purchased technology	70,100		(56,099)		14,001
Trade name	5,800		(3,335)		2,465

	$	997,371	$	(727,364)	$	270,007
As of June 30, 2024:
Reacquired franchise rights	$	403,955	$	(228,157)	$	175,798
Customer relationships	331,435		(270,245)		61,190
Internally-developed software	122,673		(119,610)		3,063
Noncompete agreements	21,977		(19,494)		2,483

Purchased technology	70,100		(51,432)		18,668
Trade name	5,800		(2,900)		2,900
	$	955,940	$	(691,838)	$	264,102


(dollars in 000s)
	Amount		Weighted-Average Life (in years)
Customer relationships	$	27,435	5
Reacquired franchise rights	11,649		6
Internally-developed software	1,949		3
Noncompete agreements	1,254		5
Total	$	42,287	5

XML 25 R14.htm IDEA: XBRL DOCUMENT

LONG-TERM DEBT

9 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

LONG-TERM DEBT

NOTE 6: LONG-TERM DEBT

The components of long-term debt are as follows:


			(in 000s)
As of	March 31, 2025		June 30, 2024
Senior Notes, 5.250%, due October 2025	$	350,000	$	350,000
Senior Notes, 2.500%, due July 2028	500,000		500,000
Senior Notes, 3.875%, due August 2030	650,000		650,000

Debt issuance costs and discounts	(7,323)		(8,905)
Total long-term debt	1,492,677		1,491,095
Less: Current portion	(349,787)		—
Long-term portion	$	1,142,890	$	1,491,095
Estimated fair value of long-term debt	$	1,422,000	$	1,391,000

We had no outstanding balance under our CLOC and amounts available to borrow were not limited by the debt-to-EBITDA covenant as of March 31, 2025.

XML 26 R15.htm IDEA: XBRL DOCUMENT

INCOME TAXES	9 Months Ended
INCOME TAXES	Mar. 31, 2025
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 7: INCOME TAXES 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, local, and foreign jurisdictions. We had gross unrecognized tax benefits of $284.0 million and $251.8 million as of March 31, 2025 and June 30, 2024, respectively. The gross unrecognized tax benefits increased by $32.2 million during the nine months ended March 31, 2025. The increase is primarily related to various current federal and state tax positions expected to be taken in our income tax returns. We believe it is reasonably possible that the balance of unrecognized tax benefits could decrease by approximately $148.4 million within the next twelve months. The anticipated decrease is due to the expiration of statutes of limitations, anticipated closure of various tax matters currently under examination, and settlements with tax authorities. For such matters where a change in the balance of unrecognized tax benefits is not yet deemed reasonably possible, no estimate has been included. Our effective tax rate for continuing operations, including the effects of discrete tax items, was 25.3% and 17.6% for the nine months ended March 31, 2025 and 2024, respectively. Discrete items increased the effective tax rate by 0.9% for the nine months ended March 31, 2025 and decreased the effective tax rate by 6.3% for the nine months ended March 31, 2024. Discrete income tax expense of $3.8 million and benefit of $26.0 million were recorded in the nine months ended March 31, 2025, and 2024, respectively. The discrete tax expense recorded in the current period primarily resulted from interest expense on uncertain tax positions, partially offset by benefits related to investment tax credit purchases and stock-based compensation vesting. The discrete tax benefit recorded in the prior period primarily resulted from settlements with taxing authorities and state statute of limitations expirations. The impact discrete tax items have on our tax rate through the third quarter are slightly exaggerated versus the impact discrete tax items have on the full fiscal year tax rate.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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+ Details

XML 27 R16.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8: COMMITMENTS AND CONTINGENCIES Our U.S. and Canadian businesses offer our 100% accuracy guarantee. Assisted tax returns are covered by our 100% accuracy guarantee, whereby we will reimburse a client for penalties and interest attributable to an H&R Block error on a return. DIY tax returns are covered by our 100% accuracy guarantee, whereby we will reimburse a client up to a maximum of $10,000 if our software makes an arithmetic error that results in payment of penalties and/or interest to the respective taxing authority that a client would otherwise not have been required to pay. Our liability related to estimated losses under the 100% accuracy guarantee was $11.3 million and $14.1 million as of March 31, 2025 and June 30, 2024, respectively. The short-term and long-term portions of this liability are included in deferred revenue and other liabilities in the consolidated balance sheets. Liabilities related to acquisitions for (1) estimated contingent consideration based on expected financial performance of the acquired business and economic conditions at the time of acquisition and (2) estimated accrued compensation related to continued employment of key employees were $32.4 million and $26.9 million as of March 31, 2025 and June 30, 2024 respectively, with amounts recorded in deferred revenue and other liabilities. Should actual results differ from our estimates, 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 short-term lines of credit for the purpose of meeting their seasonal working capital needs. Our total obligation under these lines of credit was $21.0 million at March 31, 2025, and net of amounts drawn and outstanding, our remaining commitment to fund totaled $9.1 million.

XML 28 R17.htm IDEA: XBRL DOCUMENT

LITIGATION AND OTHER RELATED CONTINGENCIES	9 Months Ended
LITIGATION AND OTHER RELATED CONTINGENCIES	Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
LITIGATION AND OTHER RELATED CONTINGENCIES	NOTE 9: LITIGATION AND OTHER RELATED CONTINGENCIES We are a defendant in numerous litigation and arbitration 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 or arbitrations to which we are subject. In some of the matters, very large or indeterminate amounts, including punitive damages, may be 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. 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 claim bears little relevance to its merits or disposition value due to this variability in pleadings and our experience in handling and resolving numerous claims over an extended period of time. The outcome of a 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 courts and arbitrators will apply the law. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will view the relevant evidence and applicable law. In addition to litigation and arbitration matters, we are also subject to other loss contingencies arising out of our business activities, including as described below. We accrue liabilities for litigation, arbitration and other related loss contingencies and any related settlements when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. 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 March 31, 2025. 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 business and our consolidated financial position, results of operations, and cash flows. Our accrued liabilities were $5.5 million and $7.2 million as of March 31, 2025 and June 30, 2024, respectively. Our estimate of the aggregate range of reasonably possible losses includes (1) matters where a liability has been accrued and there is a reasonably possible loss in excess of the amount accrued for that liability, and (2) matters where a liability has not been accrued but we believe a loss is reasonably possible. This aggregate range only represents those losses as to which we are currently able to estimate a reasonably possible loss or range of loss. It does not represent our maximum loss exposure. Matters for which we are not currently able to estimate the reasonably possible loss or range of loss are not included in this range. 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 precise information about the amount of damages or other remedies being asserted, the defenses to the claims being asserted, discovery from other parties and investigation of factual allegations, rulings by courts or arbitrators on motions or appeals, analyses by experts, or the status or terms of any settlement negotiations. The 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. As of March 31, 2025, we believe the estimate of the aggregate range of reasonably possible losses in excess of amounts accrued, where the range of loss can be estimated, is not material. At the end of each reporting period, we review relevant information with respect to litigation, arbitration and other related 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. 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 business and our consolidated financial position, results of operations, and cash flows. We have received and are responding to certain governmental inquiries, class actions and mass arbitrations relating to the IRS Free File Program and other aspects of our DIY tax preparation services, including the use of pixels. An accrual related to these matters is included in our loss contingency accrual. We are from time to time a party to litigation, arbitration 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 others who may be similarly situated.

XML 29 R18.htm IDEA: XBRL DOCUMENT

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2025	Mar. 31, 2024
Pay vs Performance Disclosure
Net income	$ 722,330	$ (243,420)	$ (172,576)	$ 690,737	$ (189,755)	$ (163,482)	$ 306,334	$ 337,500

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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XML 30 R19.htm IDEA: XBRL DOCUMENT

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2025
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false

XML 31 R20.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)	Mar. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation	The consolidated balance sheets as of March 31, 2025 and June 30, 2024, the consolidated statements of operations and comprehensive income for the three and nine months ended March 31, 2025 and 2024, the consolidated statements of cash flows for the nine months ended March 31, 2025 and 2024, and the consolidated statements of stockholders' equity for the three and nine months ended March 31, 2025 and 2024 have been prepared by the Company, without audit. In the opinion of management, all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position, results of operations, and cash flows as of March 31, 2025 and 2024 and for all periods presented, have been made. "H&R Block," "the Company," "we," "our," and "us" are used interchangeably to refer to H&R Block, Inc., to H&R Block, Inc. and its subsidiaries, or to H&R Block, Inc.'s operating subsidiaries, as appropriate to the context. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our June 30, 2024 Annual Report on Form 10-K. All amounts presented herein as of June 30, 2024 or for the year then ended are derived from our Annual Report on Form 10-K.
Management Estimates	The preparation of financial statements in conformity with 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 associated with pending claims and litigation, reserves for uncertain tax positions, and fair value of reporting units. 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.
Discontinued Operations	Our discontinued operations include the results of operations of Sand Canyon Corporation, previously known as Option One Mortgage Corporation, which exited its mortgage business in fiscal year 2008.

XML 32 R21.htm IDEA: XBRL DOCUMENT

REVENUE RECOGNITION (Tables)

9 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by Major Service Line


							(in 000s)
	Three months ended March 31,				Nine months ended March 31,
	2025		2024		2025		2024
Revenues:
U.S. assisted tax preparation	$	1,635,877	$	1,534,825	$	1,727,220	$	1,622,430
U.S. royalties	133,961		141,915		143,312		153,070
U.S. DIY tax preparation	214,666		198,570		231,646		215,529
Refund Transfers	113,732		118,937		115,229		120,892
Peace of Mind® Extended Service Plan	15,625		16,813		54,867		59,100
Tax Identity Shield®	7,025		7,536		14,947		16,810
Emerald Card® and SpruceSM	40,195		41,160		59,169		61,493
Interest and fee income on Emerald Advance®	14,286		21,169		26,594		36,702
International	60,438		68,264		157,104		158,398
Wave	26,717		23,580		79,681		70,656
Other	14,582		12,065		40,215		32,637
Total revenues	$	2,277,104	$	2,184,834	$	2,649,984	$	2,547,717

Schedule of Deferred Revenue Related To The Peace of Mind Program

Changes in the balances of deferred revenue and wages for our Peace of Mind® Extended Service Plan (POM) are as follows:


							(in 000s)
POM	Deferred Revenue				Deferred Wages
Nine months ended March 31,	2025		2024		2025		2024
Balance, beginning of the period	$	156,610	$	167,257	$	20,212	$	21,828
Amounts deferred	70,536		72,369		7,222		8,324
Amounts recognized on previous deferrals	(64,885)		(68,445)		(8,396)		(8,324)
Balance, end of the period	$	162,261	$	171,181	$	19,038	$	21,828

XML 33 R22.htm IDEA: XBRL DOCUMENT

EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Mar. 31, 2025

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)
	Three months ended March 31,				Nine months ended March 31,
	2025		2024		2025		2024
Net income from continuing operations attributable to shareholders	$	722,928	$	691,586	$	309,041	$	339,597
Amounts allocated to participating securities	(3,442)		(2,788)		(1,408)		(1,350)
Net income from continuing operations attributable to common shareholders	$	719,486	$	688,798	$	307,633	$	338,247

Basic weighted average common shares	133,853		139,525		136,207		142,724
Potential dilutive shares	1,476		2,015		1,737		1,870
Dilutive weighted average common shares	135,329		141,540		137,944		144,594

Earnings per share from continuing operations attributable to common shareholders:
Basic	$	5.38	$	4.94	$	2.26	$	2.37
Diluted	5.32		4.87		2.23		2.34

XML 34 R23.htm IDEA: XBRL DOCUMENT

RECEIVABLES (Tables)

9 Months Ended

Mar. 31, 2025

Accounts, Notes, Loans and Financing Receivable, Unclassified [Abstract]

Schedule of Short-Term Receivables

Receivables, net of their related allowance, consist of the following:


(in 000s)
As of	March 31, 2025				June 30, 2024
	Short-term		Long-term		Short-term		Long-term
Loans to franchisees	$	17,267	$	17,979	$	5,917	$	16,498
Receivables for U.S. assisted and DIY tax preparation and related fees	221,510		9,282		18,440		5,332
H&R Block's Instant Refund® receivables	24,162		808		2,947		207
Emerald Advance®	22,385		22,635		17,867		21,360
Software receivables from retailers	11,097		—		1,029		—
Royalties and other receivables from franchisees	32,394		—		5,808		—
Wave payment processing receivables	1,801		—		1,078		—
Other	21,782		612		15,989		427
Total	$	352,398	$	51,316	$	69,075	$	43,824

Schedule of Receivables Based On Year of Origination

alances and amounts on non-accrual status, classified as impaired, or more than 60 days past due, by tax return year of origination, as of March 31, 2025 are as follows:


			(in 000s)

Tax return year of origination	Balance		More Than 60 Days Past Due
2024	$	24,713	$	—
2023 and prior	1,027		1,027

	25,740		$	1,027
Allowance	(770)
Net balance	$	24,970

Balances and amounts on non-accrual status, classified as impaired, or more than 60 days past due, by fiscal year of origination, as of March 31, 2025 are as follows:


(in 000s)
Fiscal year of origination	Balance		Non-Accrual
2025	$	40,017	$	—
2024 and prior	24,374		24,374

	64,391		$	24,374
Allowance	(19,371)
Net balance	$	45,020

Schedule of Activity in Allowance For Credit Losses

Activity in the allowance for credit losses for EA and all other short-term and long-term receivables for the nine months ended March 31, 2025 and 2024 is as follows:


(in 000s)
	EAs		All Other		Total
Balances as of July 1, 2024	$	33,536	$	45,327	$	78,863
Provision for credit losses	19,371		36,671		56,042
Charge-offs, recoveries and other	(33,536)		(45,864)		(79,400)
Balances as of March 31, 2025	$	19,371	$	36,134	$	55,505
Balances as of July 1, 2023	$	27,386	$	35,108	$	62,494
Provision for credit losses	21,011		40,348		61,359
Charge-offs, recoveries and other	(27,714)		(37,455)		(65,169)
Balances as of March 31, 2024	$	20,683	$	38,001	$	58,684

XML 35 R24.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill for the nine months ended March 31, 2025 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of July 1, 2024	$	923,523	$	(138,297)	$	785,226

Acquisitions(1)	15,374		—		15,374
Disposals and foreign currency changes, net	(14,664)		—		(14,664)
Impairments	—		—		—
Balances as of March 31, 2025	$	924,233	$	(138,297)	$	785,936

(1) All goodwill added during the period is expected to be tax-deductible for federal income tax reporting.

Schedule of Intangible Assets

Components of intangible assets are as follows:


(in 000s)
	Gross Carrying Amount		Accumulated Amortization		Net
As of March 31, 2025:
Reacquired franchise rights	$	415,419	$	(239,452)	$	175,967
Customer relationships	358,442		(286,040)		72,402
Internally-developed software	124,420		(122,357)		2,063
Noncompete agreements	23,190		(20,081)		3,109
Purchased technology	70,100		(56,099)		14,001
Trade name	5,800		(3,335)		2,465

	$	997,371	$	(727,364)	$	270,007
As of June 30, 2024:
Reacquired franchise rights	$	403,955	$	(228,157)	$	175,798
Customer relationships	331,435		(270,245)		61,190
Internally-developed software	122,673		(119,610)		3,063
Noncompete agreements	21,977		(19,494)		2,483

Purchased technology	70,100		(51,432)		18,668
Trade name	5,800		(2,900)		2,900
	$	955,940	$	(691,838)	$	264,102

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The amounts and weighted-average lives of intangible assets acquired during the nine months ended March 31, 2025, including amounts capitalized related to internally-developed software, are as follows:


(dollars in 000s)
	Amount		Weighted-Average Life (in years)
Customer relationships	$	27,435	5
Reacquired franchise rights	11,649		6
Internally-developed software	1,949		3
Noncompete agreements	1,254		5
Total	$	42,287	5

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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XML 36 R25.htm IDEA: XBRL DOCUMENT

LONG-TERM DEBT LONG-TERM DEBT (Tables)

9 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Components of Long-Term Debt

The components of long-term debt are as follows:


			(in 000s)
As of	March 31, 2025		June 30, 2024
Senior Notes, 5.250%, due October 2025	$	350,000	$	350,000
Senior Notes, 2.500%, due July 2028	500,000		500,000
Senior Notes, 3.875%, due August 2030	650,000		650,000

Debt issuance costs and discounts	(7,323)		(8,905)
Total long-term debt	1,492,677		1,491,095
Less: Current portion	(349,787)		—
Long-term portion	$	1,142,890	$	1,491,095
Estimated fair value of long-term debt	$	1,422,000	$	1,391,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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REVENUE RECOGNITION (Disaggregation of Revenue by Major Service Line) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2025	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Total revenues	$ 2,277,104	$ 2,184,834	$ 2,649,984	$ 2,547,717
Assisted tax preparation
Disaggregation of Revenue [Line Items]
Total revenues	1,635,877	1,534,825	1,727,220	1,622,430
Royalties
Disaggregation of Revenue [Line Items]
Total revenues	133,961	141,915	143,312	153,070
DIY tax preparation
Disaggregation of Revenue [Line Items]
Total revenues	214,666	198,570	231,646	215,529
International
Disaggregation of Revenue [Line Items]
Total revenues	60,438	68,264	157,104	158,398
Refund Transfers
Disaggregation of Revenue [Line Items]
Total revenues	113,732	118,937	115,229	120,892
Emerald Card® and SpruceSM
Disaggregation of Revenue [Line Items]
Total revenues	40,195	41,160	59,169	61,493
Peace of Mind® Extended Service Plan
Disaggregation of Revenue [Line Items]
Total revenues	15,625	16,813	54,867	59,100
Tax Identity Shield®
Disaggregation of Revenue [Line Items]
Total revenues	7,025	7,536	14,947	16,810
Interest and fee income on Emerald Advance®
Disaggregation of Revenue [Line Items]
Total revenues	14,286	21,169	26,594	36,702
Wave
Disaggregation of Revenue [Line Items]
Total revenues	26,717	23,580	79,681	70,656
Other
Disaggregation of Revenue [Line Items]
Total revenues	$ 14,582	$ 12,065	$ 40,215	$ 32,637

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REVENUE RECOGNITION (Deferred Revenue) (Details) - POM - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Movement in Deferred Revenue [Roll Forward]
Contract with Customer, Liability	$ 162,300
Deferred Revenue
Movement in Deferred Revenue [Roll Forward]
Contract with Customer, Liability	156,610	$ 167,257
Amounts deferred	70,536	72,369
Amounts recognized on previous deferrals	(64,885)	(68,445)
Contract with Customer, Liability	162,261	171,181
Deferred Wages
Movement in Deferred Revenue [Roll Forward]
Contract with Customer, Liability	20,212	21,828
Amounts deferred	7,222	8,324
Amounts recognized on previous deferrals	(8,396)	(8,324)
Contract with Customer, Liability	$ 19,038	$ 21,828

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REVENUE RECOGNITION (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2025	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023
POM
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 162.3
Current deferred revenue	91.8
TIS
Disaggregation of Revenue [Line Items]
Current deferred revenue	$ 31.2	$ 21.4	$ 31.6	$ 25.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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REVENUE RECOGNITION (Remaining Performance Obligation) (Details)	Mar. 31, 2025
POM \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-11-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	12 months
POM \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	5 years
TIS
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year	2026

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EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY (Narrative) (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2025	Mar. 31, 2024
Earnings Per Share [Abstract]
Basic weighted average common shares (in shares)	133,853	139,525	136,207	142,724
Nonvested units granted (in shares)				1,700
Stock-based compensation	$ 7.5	$ 7.8	$ 25.4	$ 25.3
Unrecognized compensation costs, nonvested shares and units	$ 50.8		$ 50.8

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EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY (Computations of Basic and Diluted Earnings Per Share) (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2025	Mar. 31, 2024
Earnings Per Share [Abstract]
Net income from continuing operations attributable to shareholders	$ 722,928	$ 691,586	$ 309,041	$ 339,597
Amounts allocated to participating securities	(3,442)	(2,788)	(1,408)	(1,350)
Net income from continuing operations attributable to common shareholders	$ 719,486	$ 688,798	$ 307,633	$ 338,247
Basic weighted average common shares (in shares)	133,853	139,525	136,207	142,724
Potential dilutive shares (in shares)	1,476	2,015	1,737	1,870
Dilutive weighted average common shares (in shares)	135,329	141,540	137,944	144,594

- Definition

Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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RECEIVABLES (Schedule of Short-Term Receivables) (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Jun. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Short-term	$ 352,398	$ 69,075
Long-term	51,316	43,824
Loans to franchisees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Short-term	17,267	5,917
Long-term	17,979	16,498
Receivables for U.S. assisted and DIY tax preparation and related fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Short-term	221,510	18,440
Long-term	9,282	5,332
H&R Block's Instant Refund® receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Short-term	24,162	2,947
Long-term	808	207
Emerald Advance®
Accounts, Notes, Loans and Financing Receivable [Line Items]
Short-term	22,385	17,867
Long-term	22,635	21,360
Software receivables from retailers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Short-term	11,097	1,029
Long-term	0	0
Royalties and other receivables from franchisees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Short-term	32,394	5,808
Long-term	0	0
Wave payment processing receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Short-term	1,801	1,078
Long-term	0	0
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Short-term	21,782	15,989
Long-term	$ 612	$ 427

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RECEIVABLES (Narrative) (Details) - USD ($)	9 Months Ended
RECEIVABLES (Narrative) (Details) - USD ($)	Mar. 31, 2025	Mar. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss, Writeoff	$ (79,400,000)	$ (65,169,000)
H&R Block's Instant Refund® receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired, non-accrual status term	60 days
Financing receivable	$ 25,740,000
Emerald Advance®
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired, non-accrual status term	60 days
Financing receivable	$ 64,391,000
Accounts Receivable, Allowance for Credit Loss, Writeoff	(33,536,000)	$ (27,714,000)
Emerald Advance Lines of Credit Write Offs
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss, Writeoff	$ (33,500,000)

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Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

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RECEIVABLES (Schedule of Receivables Based on Year of Origination) (Details) - USD ($)	9 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss, Writeoff	$ (79,400,000)	$ (65,169,000)
H&R Block's Instant Refund® receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance	25,740,000
Allowance	(770,000)
Net balance	24,970,000
Non-Accrual	1,027,000
Emerald Advance®
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance	64,391,000
Allowance	(19,371,000)
Net balance	45,020,000
Non-Accrual	24,374,000
Accounts Receivable, Allowance for Credit Loss, Writeoff	(33,536,000)	$ (27,714,000)
Current year of origination \| H&R Block's Instant Refund® receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance	24,713,000
Non-Accrual	0
Current year of origination \| Emerald Advance®
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance	40,017,000
Non-Accrual	0
Prior year and before \| H&R Block's Instant Refund® receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance	1,027,000
Non-Accrual	1,027,000
Prior year and before \| Emerald Advance®
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance	24,374,000
Non-Accrual	$ 24,374,000

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RECEIVABLES (Schedule of Activity in the Allowance For Doubtful Accounts) (Details) - USD ($)	9 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Allowance for Doubtful Accounts [Roll Forward]
Beginning balance	$ 78,863,000	$ 62,494,000
Provision for credit losses	56,042,000	61,359,000
Charge-offs, recoveries and other	79,400,000	65,169,000
Ending balance	55,505,000	58,684,000
EAs
Allowance for Doubtful Accounts [Roll Forward]
Beginning balance	33,536,000	27,386,000
Provision for credit losses	19,371,000	21,011,000
Charge-offs, recoveries and other	33,536,000	27,714,000
Ending balance	19,371,000	20,683,000
All Other
Allowance for Doubtful Accounts [Roll Forward]
Beginning balance	45,327,000	35,108,000
Provision for credit losses	36,671,000	40,348,000
Charge-offs, recoveries and other	45,864,000	37,455,000
Ending balance	36,134,000	$ 38,001,000
Emerald Advance Lines of Credit Write Offs
Allowance for Doubtful Accounts [Roll Forward]
Charge-offs, recoveries and other	$ 33,500,000

XML 47 R36.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Schedule of Goodwill) (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2025 USD ($)
Goodwill [Roll Forward]
Goodwill before impairment losses, beginning balance	$ 923,523
Accumulated impairment losses, beginning balance	(138,297)
Goodwill, beginning balance	785,226
Acquisitions(1)	15,374
Disposals and foreign currency changes, net	(14,664)
Impairments	0
Goodwill before impairment losses, ending balance	924,233
Accumulated impairment losses, ending balance	(138,297)
Goodwill, ending balance	$ 785,936

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

XML 48 R37.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Jun. 30, 2024
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	$ 997,371	$ 955,940
Accumulated Amortization	(727,364)	(691,838)
Net	270,007	264,102
Reacquired franchise rights
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	415,419	403,955
Accumulated Amortization	(239,452)	(228,157)
Net	175,967	175,798
Customer relationships
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	358,442	331,435
Accumulated Amortization	(286,040)	(270,245)
Net	72,402	61,190
Internally-developed software
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	124,420	122,673
Accumulated Amortization	(122,357)	(119,610)
Net	2,063	3,063
Noncompete agreements
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	23,190	21,977
Accumulated Amortization	(20,081)	(19,494)
Net	3,109	2,483
Purchased technology
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	70,100	70,100
Accumulated Amortization	(56,099)	(51,432)
Net	14,001	18,668
Trade name
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	5,800	5,800
Accumulated Amortization	(3,335)	(2,900)
Net	$ 2,465	$ 2,900

XML 49 R38.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Intangible Assets Acquired) (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2025 USD ($)
Business Acquisition [Line Items]
Amount	$ 42,287
Weighted-Average Life (in years)	5 years
Customer Relationships
Business Acquisition [Line Items]
Amount	$ 27,435
Weighted-Average Life (in years)	5 years
Reacquired Franchise Rights
Business Acquisition [Line Items]
Amount	$ 11,649
Weighted-Average Life (in years)	6 years
Noncompete Agreements
Business Acquisition [Line Items]
Amount	$ 1,254
Weighted-Average Life (in years)	5 years
Capitalized software
Business Acquisition [Line Items]
Amount	$ 1,949
Weighted-Average Life (in years)	3 years

XML 50 R39.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2025	Mar. 31, 2024
Business Acquisition [Line Items]
Payments made for business acquisitions, net of cash acquired			$ 35,323	$ 43,163
Amortization	$ 11,300	$ 15,000	36,300	46,200
Estimated amortization, 2022	47,600		47,600
Estimated amortization, 2023	41,500		41,500
Estimated amortization, 2024	34,700		34,700
Estimated amortization, 2025	26,500		26,500
Estimated amortization, 2026	$ 18,100		18,100
Franchisee and competitor businesses
Business Acquisition [Line Items]
Payments made for business acquisitions, net of cash acquired			$ 35,300	$ 43,200

XML 51 R40.htm IDEA: XBRL DOCUMENT

LONG-TERM DEBT (Components of Long-Term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Jun. 30, 2024
Debt Instrument [Line Items]
Debt issuance costs and discounts	$ (7,323)	$ (8,905)
Long-Term Debt	(1,492,677)	(1,491,095)
Long-term Debt, Current Maturities	(349,787)	0
Long-Term Debt and Lease Obligation	1,142,890	1,491,095
Estimated fair value of long-term debt	$ 1,422,000	1,391,000
Senior Notes \| Senior Notes, 5.250%, due October 2025
Debt Instrument [Line Items]
Interest rate	5.25%
Senior notes	$ 350,000	350,000
Senior Notes \| Senior Notes, 2.500%, due July 2028
Debt Instrument [Line Items]
Interest rate	2.50%
Senior notes	$ 500,000	500,000
Senior Notes \| Senior Notes, 3.875%, due August 2030
Debt Instrument [Line Items]
Interest rate	3.875%
Senior notes	$ 650,000	$ 650,000

XML 52 R41.htm IDEA: XBRL DOCUMENT

LONG-TERM DEBT (Narrative) (Details)	Mar. 31, 2025 USD ($)
Revolving credit facility
Line of Credit Facility [Line Items]
Maximum annual debt-to-EBITDA ratio	4.50
Maximum quarterly debt-to-EBITDA ratio	3.50
Minimum interest coverage ratio	2.50
Aggregate principal amount	$ 1,500,000,000
Line Of Credit Facility, Available Increase In Borrowing Capacity	500,000,000.0
Swingline Loans
Line of Credit Facility [Line Items]
Maximum borrowing capacity	175,000,000.0
Standby Letters of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 50,000,000.0

XML 53 R42.htm IDEA: XBRL DOCUMENT

INCOME TAXES (Narrative) (Details) - USD ($)	9 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($)	Mar. 31, 2025	Mar. 31, 2024	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 284,000,000.0		$ 251,800,000
Change in tax benefits that are reasonably possible	$ 148,400,000
Effective tax rate	25.30%	17.60%
Gross unrecognized tax benefits increase (decrease)	$ 32.2
Increase in effective tax rate from discrete item, percent	90.00%	630.00%
Discrete income tax expense (benefit)	$ 3.8	$ 26,000,000

XML 54 R43.htm IDEA: XBRL DOCUMENT

LITIGATION AND OTHER RELATED CONTINGENCIES (Details) - USD ($)	Mar. 31, 2025	Jun. 30, 2024
Loss Contingencies [Line Items]
Loss contingency accrual	$ 5.5	$ 7,200,000

XML 55 R44.htm IDEA: XBRL DOCUMENT

Commitment and Contingencies (Details) - USD ($)	9 Months Ended
Commitment and Contingencies (Details) - USD ($)	Mar. 31, 2025	Jun. 30, 2024	Mar. 31, 2024
Other Commitments [Line Items]
POM maximum per tax return	$ 10,000
Standard guarantee accrual amount	11,300,000	$ 14,100,000
Contingent business acquisition obligations	32,400,000	26,900,000
Lines of credit, total obligation	21,000,000.0
Remaining franchise equity lines of credit-undrawn commitment	9,100,000
Loss contingency accrual	5.5	$ 7,200,000
Investment Tax Credit	22.9
Purchase Commitment, Remaining Minimum Amount Committed	75.1
Customer Advance, Line Of Credit, Outstanding Amount	260,600,000
Guarantor Obligations, Maximum Exposure, Undiscounted	18,000,000
Guarantor Obligations, Current Carrying Value	$ 2,400,000		$ 1,400,000

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