e11vk
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2008
OR
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission file number 1-6089
H&R Block Retirement Savings Plan
(Full title of the Plan)
H&R Block, Inc.
One H&R Block Way
Kansas City, Missouri 64105
(Name of issuer of the securities held pursuant to the plan and
the address of its principal executive office)
H&R BLOCK RETIREMENT SAVINGS PLAN
TABLE OF CONTENTS
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM |
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1 |
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FINANCIAL STATEMENTS: |
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Statements of Net Assets Available for Benefits as of
December 31, 2008 and 2007 |
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2 |
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Statement of Changes in Net Assets Available for Benefits
for the Year Ended December 31, 2008 |
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3 |
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Notes to Financial Statements as of December 31, 2008 and 2007,
and for the Year Ended December 31, 2008 |
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4 - 10 |
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SUPPLEMENTAL SCHEDULE * |
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Form 5500, Schedule H, Part IV, Line 4i Schedule of Assets (Held at End of Year)
as of December 31, 2008 |
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11 - 12 |
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SIGNATURE |
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13 |
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EXHIBIT |
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Consent of Independent Registered Public Accounting Firm |
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14 |
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* |
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All other schedules required by Section 2520.103-10 of the Department of Labors Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974
have been omitted because they are not applicable. |
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Participants and Administrative Committee of
the H&R Block Retirement Savings Plan:
We have audited the accompanying statements of net assets available for benefits of the H&R Block
Retirement Savings Plan (the Plan) as of December 31, 2008 and 2007, and the related statement of
changes in net assets available for benefits for the year ended December 31, 2008. These financial
statements are the responsibility of the Plans management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We conducted our audits in accordance with standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. The
Plan is not required to have, nor were we engaged to perform, an audit of its internal control over
financial reporting. Our audits included consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of the Plans internal control
over financial reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material respects, the net assets
available for benefits of the Plan as of December 31, 2008 and 2007, and the changes in net assets
available for benefits for the year ended December 31, 2008 in conformity with accounting
principles generally accepted in the United States of America.
Our audits were conducted for the purpose of forming an opinion on the basic financial statements
taken as a whole. The supplemental schedule listed in the table of
contents is presented for the
purpose of additional analysis and is not a required part of the basic financial statements, but
is supplementary information required by the Department of Labors Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. This supplementary schedule
is the responsibility of the Plans management. Such
supplementary schedule has been subjected to the
auditing procedures applied in our audit of the basic 2008 financial statements and, in
our opinion, is fairly stated in all material respects when
considered in relation to the basic 2008 financial statements taken as a whole.
/s/ Deloitte & Touche LLP
Kansas City, Missouri
June 29, 2009
1
H&R BLOCK RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2008 and 2007
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2008 |
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2007 |
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ASSETS: |
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Cash and cash equivalents |
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$ |
58,361 |
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$ |
735,812 |
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Investments, at fair value: |
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Mutual funds |
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336,467,006 |
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570,351,419 |
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Self-directed brokerage accounts |
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10,616,867 |
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20,848,648 |
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Participant loans |
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6,558,928 |
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10,596,187 |
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Total investments, at fair value |
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353,642,801 |
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601,796,254 |
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Investments, at estimated fair value: |
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H&R Block, Inc. common stock fund |
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16,810,613 |
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12,907,696 |
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Common/collective trust |
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51,971,989 |
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50,507,449 |
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Total investments,
at estimated fair value |
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68,782,602 |
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63,415,145 |
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Total investments |
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422,425,403 |
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665,211,399 |
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Receivables: |
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Employer contributions |
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4,189,424 |
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5,224,432 |
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Participant contributions |
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426,106 |
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775,110 |
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Total receivables |
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4,615,530 |
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5,999,542 |
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NET ASSETS AVAILABLE FOR BENEFITS AT
FAIR VALUE |
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$ |
427,099,294 |
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$ |
671,946,753 |
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ADJUSTMENT FROM FAIR VALUE TO
CONTRACT VALUE FOR FULLY BENEFIT-
RESPONSIVE INVESTMENT CONTRACTS
(NOTE 2) |
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5,046,248 |
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1,302,552 |
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NET ASSETS AVAILABLE FOR BENEFITS |
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$ |
432,145,542 |
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$ |
673,249,305 |
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See notes to financial statements.
2
H&R BLOCK RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2008
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For the Year Ended |
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December 31, 2008 |
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ADDITIONS: |
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Investment income (loss): |
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Dividends and interest |
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$ |
17,643,384 |
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Net depreciation in fair value of investments |
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(162,887,826 |
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Total investment income (loss) |
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(145,244,442 |
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Contributions: |
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Employer |
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20,953,841 |
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Participant |
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42,470,508 |
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Rollover |
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1,704,908 |
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Total contributions |
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65,129,257 |
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Transfers in to plan |
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55,738,575 |
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Total net additions |
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(24,376,610 |
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DEDUCTIONS: |
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Benefits paid to participants |
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65,585,161 |
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Administrative expenses |
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569,593 |
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Transfers out of plan |
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150,572,399 |
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Total deductions |
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216,727,153 |
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Decrease in net assets |
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(241,103,763 |
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Net assets available for benefits: |
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Beginning of year |
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673,249,305 |
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End of year |
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$ |
432,145,542 |
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See notes to financial statements.
3
H&R BLOCK RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2008 AND 2007, AND FOR THE YEAR ENDED DECEMBER 31, 2008
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1. |
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DESCRIPTION OF THE PLAN |
The following description of the H&R Block Retirement Savings Plan (the Plan) is provided
for general information purposes only. Participants should refer to the Plan document for
more complete information.
General
The Plan is a defined contribution plan sponsored by HRB Management, LLC, which is a wholly
owned subsidiary of H&R Block, Inc. (the Company) for its employees and the employees of
certain of its affiliates. The Plan became effective on January 1, 1985 and is subject to
the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
The Plan provides for selection of an administrative committee, a plan administrator and a
trustee by the Board of Directors of the Company. The administrative committee is
responsible for the general administration of the Plan and the interpretation of its
provisions. The plan administrator is responsible for the reporting and disclosure
requirements under ERISA. Fidelity Management Trust Company (Fidelity) is the Plans
recordkeeper and trustee.
Effective January 1, 2008, Sand Canyon Corporation (SCC, formerly Option One Mortgage
Corporation (Option One)) employees transferred out of the Plan into a new 401(k) plan.
As a result of the transaction, participant balances of $150,572,399 were transferred to the
new plan. Due to the wind-down and sale of Option One in April 2008, the assets of the
Option One Mortgage 401(k) Plan (the Option One Plan) were transferred back into the Plan
on December 31, 2008. As a result of the transaction, participant balances of $55,738,575
were transferred back into the Plan.
Eligibility
The timing of an employees eligibility for participation in the Plan depends on whether the
employee is classified as a nonseasonal employee or seasonal employee. With respect to
participant contributions and employer matching contributions: (a) nonseasonal employees are
automatically enrolled in the Plan beginning the first day of the month following or
coinciding with the date they complete 90 Days of Service, as such term is defined in the
Plan, and (b) seasonal employees are automatically enrolled in the Plan beginning with the
first participation date (January 1 or July 1) following or coinciding with the date they
complete a Year of Service, as such term is defined in the Plan. With respect to employer
profit sharing contributions, both nonseasonal and seasonal employees are eligible to
participate beginning the first day of the Plan year that immediately precedes or is
coincident with the date the employee completes a Year of Service.
Contributions
Participants may make pre-tax contributions from two to fifty percent of their compensation,
subject to Internal Revenue Code (IRC) limitations. Effective January 1, 2008,
participants may make pre-tax contributions up to seventy-five
4
H&R BLOCK RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2008 AND 2007, AND FOR THE YEAR ENDED DECEMBER 31, 2008
percent of their compensation, subject to Internal Revenue Code (IRC) limitations.
Participants age 50 and over may make pre-tax contributions from zero to one-hundred percent
of their compensation, subject to Internal Revenue Code limitations. The Company may make
discretionary matching contributions of up to one hundred percent of a participants
contributions, not to exceed five percent of the participants compensation. All participant
and matching contributions are invested at the participants direction. The Company may
also elect to make discretionary profit sharing contributions, which would be allocated
among participant accounts based on the participants eligible compensation. For the year
ended December 31, 2008, the Company contributed $20,953,841 for the matching contribution.
No discretionary profit sharing contributions were made during the year ended December 31,
2008.
Vesting
Participant and employer matching contributions, and earnings thereon, are fully vested and
nonforfeitable at all times.
Participant Accounts
Individual accounts are maintained for each Plan participant. Each participants account is
credited with the participants contribution, the Companys matching contribution, and
allocations of Company discretionary contributions, and Plan earnings, and charged with
withdrawals and an allocation of Plan losses and administrative expenses. Allocations are
based on participant earnings or account balances, as defined. The benefit to which a
participant is entitled is the benefit that can be provided from the participants vested
account.
Investments
Participants direct the investment of their contributions into various investment options
offered by the Plan. The Plan currently offers twenty mutual funds, Company common stock, a
self-directed brokerage account, and a common/collective trust as investment options for
participants. Participants have purchased shares of mutual funds and money market funds
through the brokerage account.
Participant Loans
Participant loans must be at least $1,000 and are limited to the lesser of $50,000 less the
highest outstanding loan balance in the previous 12 months or fifty percent of the
participants vested account balance. The loans are secured by the balance in the
participants account and bear interest at the prime rate as published in the Wall Street
Journal as of the first day of the month in which the loan is requested plus 1%. Interest
rates on participant loans range from 4.0% to 10.5%. Loans are payable over one to five
years except for loans for the purchase of a residence, which may be longer. Principal and
interest is paid ratably through payroll deductions.
Payment of Benefits
Generally, distributions may not be made to a participant, or in the case of death, a
participants beneficiary, until administratively feasible following the earliest of the
5
H&R BLOCK RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2008 AND 2007, AND FOR THE YEAR ENDED DECEMBER 31, 2008
participants death, disability, retirement or severance from employment. Distributions are
in the form of a lump sum cash payment, unless the participant elects to defer payment.
Forfeited Accounts
At December 31, 2008 and 2007, forfeited accounts totaled $8,670 and $94,655, respectively.
These accounts are to be used first to reduce administrative expenses of the Plan, then to
reduce Company matching contributions and then to reduce Company profit sharing
contributions. During the year ended December 31, 2008, forfeited nonvested accounts of
$111,256 were used to pay Plan expenses.
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2. |
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Basis of Accounting
The accompanying financial statements have been prepared in accordance with accounting
principles generally accepted in the United States of America.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets, liabilities, and changes therein and
disclosure of contingent assets and liabilities. Actual results could differ from those
estimates.
Risks and Uncertainties
The Plan invests in various investment instruments, including common stock, mutual funds,
self-directed brokerage account and a common/collective trust fund. Investment securities,
in general, are exposed to various risks such as interest rate risk, credit risk, and
overall market volatility. Due to the level of risk associated with certain investment
securities, it is at least reasonably possible that changes in the values of investment
securities will occur in the near term and that such changes could materially affect the
amounts reported in the financial statements.
Investment Valuation and Income Recognition
The Plans investments are stated at fair value. Fair value is the
price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. Shares of mutual funds,
including those in self-directed brokerage accounts, are valued at quoted market prices,
which represent the net asset value of shares held by the Plan at
year-end. Estimated fair value of the H&R Block, Inc.
Common Stock fund is determined by the trustee based on the
fair market value of the underlying investments within the fund. The common/collective
trust is stated at estimated fair value as determined by the issuer of the common collective
trust based on the fair market value of the underlying investments. Common/collective
trusts with underlying investments in benefit-responsive investment contracts are valued at
the fair value of the underlying investments and then adjusted by the issuer to contract
6
H&R BLOCK RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2008 AND 2007, AND FOR THE YEAR ENDED DECEMBER 31, 2008
value. Participant loans are valued at the outstanding loan balances, which approximate
fair value.
Individual participant accounts for the H&R Block, Inc. common stock unitized fund, which is
made up of Company common stock and a money market fund, and the SEI Stable Asset Fund are
maintained on a unit value basis. Participants do not have beneficial ownership in the
specific underlying securities or other assets in the funds, but do have an interest
therein represented by units valued daily. The funds earn dividends and interest which are
automatically reinvested in additional units. Generally, contributions to and withdrawal
payments from each fund are converted to units by dividing the amounts of such transactions
by the unit values as last determined, and the participants accounts are charged or
credited with the number of units properly attributable to each participant.
The SEI Stable Asset Fund (the Trust) is a stable value fund formed to provide for the
collective investment of assets of participating tax qualified pension and profit sharing
plans and related trusts and governmental plans (or the assets of a governmental unit used
to satisfy its obligations under a governmental plan) in guaranteed investment contracts and
readily marketable assets in accordance with the investing criteria established by the
Declaration of Trust. The Trust primarily invests in a variety of investment contracts such
as guaranteed investment contracts (GICs) issued by insurance companies and other
financial institutions and other investment products (separate account contracts, synthetic
GICs and collective investment trusts) with similar characteristics. Participants may
ordinarily direct the withdrawal or transfer of all or a portion of their investment at
contract value. Contract value represents contributions made to the fund, plus earnings,
less participant withdrawals.
In accordance with Financial Accounting Standards Board (FASB) Staff Position, AAG INV-1
and SOP No. 94-4-1, Reporting of Fully Benefit-Responsive Contracts Held by Certain
Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution
Health and Welfare and Pension Plans, the statements of net assets available for benefits
present an investment contract at fair value, as well as an additional line item showing an
adjustment of the fully benefit-responsive contract from fair value to contract value. The
statement of changes in net assets available for benefit is presented on a contract value
basis.
Purchases and sales of investments are recorded on a trade-date basis. Interest income is
recorded on an accrual basis. Dividend income is recorded on the ex-dividend date.
Management fees and operating expenses charged to the Plan for investments in the mutual
funds are deducted from income earned on a daily basis and are not separately reflected.
Consequently, management fees and operating expenses are reflected as a reduction of
investment return for such investments.
7
H&R BLOCK RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2008 AND 2007, AND FOR THE YEAR ENDED DECEMBER 31, 2008
Administrative Expenses
All administrative expenses incurred by the Plan are paid by the Plan, except to the extent
paid by the Company. To the extent forfeitures are not used to pay administrative expenses
of the Plan, such expenses are covered using participant account balances.
Payment of Benefits
Benefit payments to participants are recorded upon distribution. Amounts allocated to
accounts of persons who have elected to withdraw from the Plan but have not yet been paid
were $322,488 and $835,761 at December 31, 2008 and 2007, respectively.
New Accounting Pronouncement
The financial statements reflect the prospective adoption of FASB Statement No. 157, Fair
Value Measurements, as of the beginning of the year ended December 31, 2008 (see Note 3).
FASB Statement No. 157 is effective for financial statements issued for fiscal years
beginning after November 15, 2007. FASB Statement No. 157 establishes a single authorative
definition of fair value, sets a framework for measuring fair value and requires additional
disclosures about fair value measurement. FASB Statement No. 157 defines fair value as the
exchange price that would be received for an asset or liability in an orderly transaction
value hierarchy which requires an entity to maximize the use of observable inputs when
measuring fair value. The effect of the adoption of FASB Statement No. 157 had no impact on
the Plans statements of net assets available for benefits and statement of changes in net
assets available for benefits.
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3. |
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FAIR VALUE MEASUREMENTS |
In accordance with FASB Statement No. 157, the Plan classifies its investments into Level 1,
which refers to securities valued using quoted prices from active markets for identical
assets; Level 2, which refers to securities not traded on an active market but for which
observable market inputs are readily available; or Level 3, which refers to securities
valued based on significant unobservable inputs. Assets and liabilities are classified in
their entirety based on the lowest level of input that is significant to the fair value
measurement. The following table sets forth by level within the fair value hierarchy a
summary of the Plans investments measured at fair value on a recurring basis at December
31, 2008.
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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H&R Block, Inc. common stock |
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$ |
16,810,613 |
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$ |
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$ |
16,810,613 |
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$ |
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Mutual funds |
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336,467,006 |
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336,467,006 |
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Self-directed brokerage accounts |
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10,616,867 |
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10,616,867 |
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Common/collective trust |
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51,971,989 |
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51,971,989 |
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Participant loans |
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6,558,928 |
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6,558,928 |
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$ |
422,425,403 |
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$ |
336,467,006 |
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$ |
85,958,397 |
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$ |
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8
H&R BLOCK RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2008 AND 2007, AND FOR THE YEAR ENDED DECEMBER 31, 2008
During the year ended December 31, 2008, the Plans investments (including gains and losses
on investments bought, sold, and held during the year) appreciated (depreciated) in fair
value as follows:
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H&R Block, Inc. common stock fund |
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$ |
3,164,980 |
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Self-directed brokerage accounts |
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(8,023,945 |
) |
Mutual funds |
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(158,028,861 |
) |
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Net depreciation in fair value of investments |
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$ |
(162,887,826 |
) |
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The H&R Block, Inc. Common stock fund uses unit accounting. As a unitized stock fund, the
Common stock Fund holds primarily H&R Block, Inc. common stock and a small percentage of
cash and short-term investments, while participants hold units of the fund.
The Plans investments that represented five percent or more of the Plans net assets
available for benefits as of December 31, 2008 and 2007, are as follows:
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2008 |
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2007 |
EuroPacific Growth Fund R5 |
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$ |
30,292,542 |
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$ |
64,555,474 |
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Growth Fund of America Class R5 |
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22,273,524 |
|
|
|
46,935,913 |
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Dodge & Cox Stock Fund |
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|
45,028,278 |
|
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|
97,300,060 |
|
SEI Institutional Mid Cap Growth Fund |
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* |
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48,266,445 |
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Vanguard Institutional Index Fund |
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|
40,604,049 |
|
|
|
68,151,562 |
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Vanguard Wellington Fund |
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126,123,200 |
|
|
|
185,824,308 |
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SEI Stable Asset Fund |
|
|
51,971,989 |
|
|
|
50,507,449 |
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PIMCO Total Return Fund |
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|
30,046,758 |
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* |
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* Investment did not meet five percent of the Plans net assets available for benefits
in respective year. |
|
5. |
|
EXEMPT PARTY-IN-INTEREST TRANSACTIONS |
|
|
|
|
Certain plan investments are shares of mutual funds managed by Fidelity. Fidelity is the
recordkeeper and trustee as defined by the Plan and, therefore, these transactions qualify
as exempt party-in-interest transactions. In addition, the H&R Block, Inc. common stock
fund includes an investment in the common stock of H&R Block, Inc., and therefore, these
transactions also qualify as exempt party-in-interest transactions. |
|
|
6. |
|
PLAN TERMINATION |
|
|
|
|
Although the Company has not expressed any intent to do so, it has the right to discontinue
its contributions at any time and to terminate the Plan subject to the provisions set forth
in the Plan and under ERISA. |
|
9
H&R BLOCK RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2008 AND 2007, AND FOR THE YEAR ENDED DECEMBER 31, 2008
|
7. |
|
FEDERAL INCOME TAX STATUS |
The Internal Revenue Service (IRS) has determined and informed the Company by a letter
dated July 30, 2007, that the Plan and related trust were designed in accordance with the
applicable regulations of the IRC. The Plan has been amended since receiving the letter.
However, the plan administrator believes that the Plan is currently designed and operated in
compliance with the applicable requirements of the IRC and the Plan and related trust
continue to be tax-exempt. Therefore, no provision for income taxes has been included in the
Plans financial statements.
|
8. |
|
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 |
The following is a reconciliation of net assets available for benefits per the financial
statements to the Form 5500 as of December 31, 2008 and 2007:
|
|
|
|
|
|
|
|
|
|
|
2008 |
|
|
2007 |
|
Net assets available for benefits per
the financial statements |
|
$ |
432,145,542 |
|
|
$ |
673,249,305 |
|
Adjustment from contract value to
fair value for fully benefit-responsive
investment contracts |
|
|
(5,046,248 |
) |
|
|
(1,302,552 |
) |
Amounts allocated to withdrawing participants |
|
|
(322,488 |
) |
|
|
(835,761 |
) |
|
|
|
|
|
|
|
Total investments (current value column) per
Form 5500 Schedule of Assets (Held at End of Year) |
|
$ |
426,776,806 |
|
|
$ |
671,110,992 |
|
|
|
|
|
|
|
|
For the year ended December 31, 2008, the following is a reconciliation of net income per
the financial statements to the Form 5500:
|
|
|
|
|
Decrease in Net Assets per the financial statements |
|
$ |
(241,103,763 |
) |
Change in fair value for fully benefit responsive
investment contracts |
|
|
(3,743,696 |
) |
Change in amounts allocated to withdrawing participants |
|
|
513,273 |
|
|
|
|
|
Net Loss per Form 5500 |
|
$ |
(244,334,186 |
) |
|
|
|
|
For the year ended December 31, 2008, the following is a reconciliation of distributions to
participants per the financial statements to the Form 5500:
|
|
|
|
|
Total distributions to participants per the financial statements |
|
$ |
65,585,161 |
|
Add: Amounts allocated to withdrawing participants at
December 31, 2008 |
|
|
322,488 |
|
Less:
Amounts allocated to withdrawing participants at December 31,
2007 |
|
|
(835,761 |
) |
|
|
|
|
Total distributions to participants per the Form 5500 |
|
$ |
65,071,888 |
|
|
|
|
|
10
H&R Block Retirement Savings Plan
EIN: 43-1910017, Plan Number: 002
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
December 31, 2008
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) |
|
|
|
|
(a) |
|
Description of Investment, Including |
|
(c) |
|
(e) |
Identity of Issuer or Borrower, |
|
Maturity Date, Rate of Interest, Collateral, |
|
Shares/Units |
|
Current |
Lessor or Similar Party |
|
and Par or Maturity Value |
|
Held |
|
Value |
* H&R Block, Inc. Common Stock fund: |
|
|
|
|
|
|
|
|
H&R Block, Inc. |
|
Common Stock |
|
|
723,742 |
|
|
$ |
16,443,420 |
|
Cash |
|
Cash |
|
|
367,193 |
|
|
|
367,193 |
|
|
|
|
|
|
|
|
|
|
|
|
Mutual funds: |
|
|
|
|
|
|
|
|
|
|
American Funds Group |
|
EuroPacific Growth Fund R5 |
|
|
1,083,812 |
|
|
|
30,292,542 |
|
American Funds Group |
|
Growth Fund of America Class R5 |
|
|
1,089,703 |
|
|
|
22,273,524 |
|
Dodge & Cox Funds |
|
Dodge & Cox Stock Fund |
|
|
605,463 |
|
|
|
45,028,278 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2000 Fund |
|
|
32,031 |
|
|
|
321,910 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2005 Fund |
|
|
4,852 |
|
|
|
40,712 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2010 Fund |
|
|
56,709 |
|
|
|
587,506 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2015 Fund |
|
|
158,201 |
|
|
|
1,354,198 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2020 Fund |
|
|
117,133 |
|
|
|
1,177,184 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2025 Fund |
|
|
88,440 |
|
|
|
727,864 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2030 Fund |
|
|
100,132 |
|
|
|
977,286 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2035 Fund |
|
|
65,134 |
|
|
|
523,024 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2040 Fund |
|
|
125,275 |
|
|
|
700,287 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2045 Fund |
|
|
53,783 |
|
|
|
353,893 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom 2050 Fund |
|
|
93,193 |
|
|
|
602,027 |
|
* Fidelity Freedom Funds |
|
Fidelity Freedom Income Fund |
|
|
66,660 |
|
|
|
637,272 |
|
Harbor Funds |
|
Harbor Small Cap Value Fund |
|
|
996,665 |
|
|
|
13,215,775 |
|
PIMCO Funds |
|
PIMCO Total Return Fund |
|
|
2,963,191 |
|
|
|
30,046,758 |
|
SEI Investments |
|
SEI Institutional Mid Cap Growth Fund |
|
|
1,899,883 |
|
|
|
20,879,717 |
|
Vanguard Group |
|
Vanguard Institutional Index Fund |
|
|
491,932 |
|
|
|
40,604,049 |
|
Vanguard Group |
|
Vanguard Wellington Fund |
|
|
2,990,119 |
|
|
|
126,123,200 |
|
|
|
|
|
|
|
|
|
(continued) |
|
11
H&R Block Retirement Savings Plan
EIN: 43-1910017, Plan Number: 002
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
December 31, 2008
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) |
|
|
|
|
(a) |
|
Description of Investment, Including |
|
(c) |
|
(e) |
Identity of Issuer or Borrower, |
|
Maturity Date, Rate of Interest, Collateral, |
|
Shares/Units |
|
Current |
Lessor or Similar Party |
|
and Par or Maturity Value |
|
Held |
|
Value |
Common Collective Trust |
|
|
|
|
|
|
|
|
|
|
SEI Investments |
|
SEI Stable Asset Fund |
|
|
57,018,237 |
|
|
|
51,971,989 |
|
|
|
|
|
|
|
|
|
|
|
|
Self-directed brokerage accounts |
|
BrokerageLink |
|
|
|
|
|
|
10,616,867 |
|
|
|
|
|
|
|
|
|
|
|
|
* Plan participants |
|
Participant Loans, Interest range: 4.0% to 10.5% |
|
|
|
|
|
|
|
|
|
|
with varying maturity dates through July 2028 |
|
|
|
|
|
|
6,558,928 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments |
|
|
|
|
|
|
|
$ |
422,425,403 |
|
|
|
|
|
|
|
|
|
|
|
|
Column (d) omitted as cost information is not required for participant-directed assets.
|
|
|
* |
|
Indicates party-in-interest to the Plan. |
(concluded)
12
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons
who administer the employee benefit plan) have duly caused this annual report to be signed on its
behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
H&R Block Retirement Savings Plan |
|
|
|
|
|
|
Date June 29, 2009
|
|
Jeffrey T. Brown |
|
|
Vice President and Corporate Controller |
|
|
H&R Block, Inc. |
13
exv23w1
EXHIBIT 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in Registration Statement No. 333-56400 on Form S-8 of
our report dated June 29, 2009, appearing in this Annual Report on Form 11-K of the H&R Block
Retirement Savings Plan for the year ended December 31, 2008.
/s/ Deloitte & Touche LLP
Kansas City, Missouri
June 29, 2009
14