HRB — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-08-14

• (1) An Assisted tax return is defined as a current or prior year individual or business tax return, including virtual returns, signed by a tax professional and accepted by the client. A DIY online paid return is defined as a current year individual or business tax return that is prepared by the clie…

• We 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 services and products, including those of our bank partners, to the general public pr…

• Assisted income tax return preparation and related services are provided by tax professionals via a system of retail offices operated directly by us or our franchisees. These tax professionals provide assistance to our clients either in person or virtually in a number of ways. Clients can come into …

• In the workplace we are committed to creating an environment where everyone feels they belong, and we believe that this commitment makes us a stronger, more successful company. We continually reflect on our

• management approaches to improve the workplace, including discussions with our Board of Directors, to review how we can provide a strong sense of belonging within the company for our associates - what we call Belonging@Block.

Text removed vs the prior filing · source: 10-K · 2025-08-15

• (1) U.S. assisted tax returns prepared includes tax returns prepared in U.S. company-owned and franchise operations, including virtual returns. An assisted tax return is defined as a current or prior year individual or business tax return that has been accepted by the client. A DIY online paid retur…

• On July 11, 2025, we entered into a Fifth Amended and Restated Credit and Guarantee Agreement, which amended and restated the existing unsecured committed line of credit (CLOC), extended the scheduled maturity date to July 11, 2030, maintained the aggregate principal amount of $1.5 billion, and revi…

• On August 7, 2025, Jeffrey J. Jones II notified the Board of Directors of the Company of his intention to retire as President and Chief Executive Officer of the Company, effective as of December 31, 2025. Mr. Jones will also retire from the Board of Directors, effective on December 31, 2025. On Augu…

• We 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 services and products, including those of our bank partners, to the general public pr…

• Assisted income tax return preparation and related services are provided by tax professionals via a system of retail offices operated directly by us or our franchisees. These tax professionals provide assistance to our clients either in person or virtually in a number of ways. Clients can come into …

Text added vs the prior filing · source: 10-K · 2026-08-14

• Unfavorable changes in economic conditions, which are typically beyond our control, including without limitation, inflation, slowing growth, rising interest rates, recession, changes in the political climate, significant armed conflicts, acts of war or terrorism, supply chain or labor market disrupt…

• financial market disruptions, pandemics or endemics, or other adverse changes, could negatively affect our business and financial condition. Difficult economic conditions are frequently characterized by high unemployment levels and declining consumer and business spending. These poor economic condit…

• In addition to losses directly from such fraud, whether through contractual obligations or otherwise, which could occur in some cases, we may also suffer a loss of confidence by our clients or by governmental agencies in our ability to detect and mitigate fraudulent activity, and such governmental a…

• We, our franchisees, and other third parties material to our business operations rely heavily upon communications, networks, and information systems and the internet to conduct our business (including third-party internet-based or cloud computing services, technology platforms, and the information s…

• networks, systems, and operations are potentially vulnerable to damage or interruption from upgrades and maintenance, network failure, hardware failure, software failure, power or telecommunications failures, cyberattacks, human error, and natural disasters. As our tax preparation business is season…

Text removed vs the prior filing · source: 10-K · 2025-08-15

• services and products and could have a material adverse effect on our business and our consolidated financial position, results of operations and cash flows.

• Unfavorable changes in economic conditions, which are typically beyond our control, including without limitation, inflation, slowing growth, rising interest rates, recession, changes in the political climate, significant armed conflicts, acts of war or terrorism, supply chain or labor market disrupt…

• In addition to losses directly from such fraud, which could occur in some cases, we may also suffer a loss of confidence by our clients or by governmental agencies in our ability to detect and mitigate fraudulent activity, and

• such governmental authorities may refuse to allow us to continue to offer such services or products. For example, a person with malicious intent may create a new account with stolen information or unlawfully take existing user account and password information from our clients to electronically file …

• We, our franchisees, and other third parties material to our business operations rely heavily upon communications, networks, and information systems and the internet to conduct our business (including third-party internet-based or cloud computing services, and the information systems of our key vend…

Text added vs the prior filing · source: 10-K · 2026-08-14

• •Revenue increased $184.4 million, or 4.9%, largely due to increases in U.S. company-owned net average charge and tax return volume. International revenues increased due to favorable foreign currency exchange rates in Canada and Australia, and Wave® revenues increased as a result of higher subscript…

• •Income tax expense decreased $54.4 million, or 31.6%, primarily due to the settlement of an IRS examination of our 2020 U.S. federal income tax return and related carryback claims to the 2015 through 2018 tax years.

• •Net income from continuing operations of $736.3 million increased 20.8% from the prior year.

• •Diluted earnings per share from continuing operations increased $1.27, or 28.7%, and adjusted diluted earnings per share from continuing operations(1) increased $0.65, or 13.9%.

• International revenues increased $18.4 million, or 7.4%, due to favorable foreign currency exchange rates in Canada and Australia. Wave® revenues increased $13.5 million, or 12.3%, as a result of higher subscription revenue and payments volume.

Text removed vs the prior filing · source: 10-K · 2025-08-15

• •Revenue increased $150.6 million, or 4.2%, largely due to increases in U.S. company-owned net average charge and tax return volume coupled with increases in DIY online paid net average charge. These increases were partially offset by lower interest and fee income on Emerald Advance® due to a decrea…

• •Net income from continuing operations of $609.5 million increased 1.9% from the prior year.

• •Diluted earnings per share from continuing operations increased $0.28, or 6.8%, and adjusted diluted earnings per share from continuing operations(1) increased $0.25, or 5.7%.

• Interest and fee income on Emerald Advance® decreased $12.0 million, or 29.3%, due to a decrease in EA loans originated during the current year. Wave revenues increased $12.8 million, or 13.2%, due to higher accounting, invoicing and receipts subscriptions and small business payments processing volu…

• Total operating expenses increased $128.0 million, or 4.6%, from the prior year. Field wages increased $58.4 million, or 6.7%, due to higher tax professional wages in the current year primarily resulting from an increase in U.S. assisted tax preparation revenues. Other wages increased $8.2 million, …