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Revenue Recognition | 12 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | NOTE 2: REVENUE RECOGNITION The majority of our revenues are from our 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)
Year ended June 30, |  | 2024 |  | 2023 |  | 2022
Revenues: |  |  |  |  |  |
U.S. assisted tax preparation |  | $ | 2,274,835 |  |  | $ | 2,167,138 |  |  | $ | 2,094,612 |
U.S. royalties |  | 204,802 |  |  | 210,631 |  |  | 225,242 |
U.S. DIY tax preparation |  | 349,812 |  |  | 314,758 |  |  | 319,086 |
Refund Transfers |  | 142,249 |  |  | 143,310 |  |  | 162,893 |
Peace of Mind® Extended Service Plan |  | 93,087 |  |  | 95,181 |  |  | 94,637 |
Tax Identity Shield® |  | 33,386 |  |  | 38,265 |  |  | 39,114 |
Emerald Card® and Spruce SM |  | 76,093 |  |  | 84,651 |  |  | 125,444 |
Interest and fee income on Emerald Advance® |  | 40,933 |  |  | 47,554 |  |  | 43,981 |
International |  | 247,123 |  |  | 235,131 |  |  | 231,335 |
Wave |  | 96,472 |  |  | 90,314 |  |  | 80,965 |
Other |  | 51,555 |  |  | 45,252 |  |  | 45,961 |
Total revenues |  | $ | 3,610,347 |  |  | $ | 3,472,185 |  |  | $ | 3,463,270 |
Changes in the balances of deferred revenue and wages for POM are as follows:
|  |  |  |  |  |  |  | (in 000s)
POM |  | Deferred Revenue |  | Deferred Wages
Year ended June 30, |  | 2024 |  | 2023 |  | 2024 |  | 2023
Balance, beginning of the year |  | $ | 167,257 |  |  | $ | 173,486 |  |  | $ | 21,828 |  |  | $ | 19,495 |
Amounts deferred |  | 97,125 |  |  | 103,136 |  |  | 11,819 |  |  | 14,247 |
Amounts recognized on previous deferrals |  | (107,772) |  |  | (109,365) |  |  | (13,435) |  |  | (11,914) |
Balance, end of the year |  | $ | 156,610 |  |  | $ | 167,257 |  |  | $ | 20,212 |  |  | $ | 21,828 |
As of June 30, 2024, deferred revenue related to POM was $156.6 million. We expect that $93.3 million will be recognized over the next twelve months, while the remaining balance will be recognized over the following five years. POM deferred revenues are included in deferred revenue and other liabilities in the consolidated balance sheets. POM deferred wages are included in prepaid expenses and other current assets and other noncurrent assets. As of June 30, 2024 and 2023, TIS deferred revenue was $21.4 million and $25.2 million, respectively. The related liabilities are included in deferred revenue and other current liabilities in the consolidated balance sheets. All deferred revenue related to TIS as of June 30, 2024 will be recognized by April 2025. A significant portion of our accounts receivable balances arise from services and products that we provide to our customers, with the exception of those related to EAs which arise from purchased participation interests with our bank partner. The majority of our receivables are related to RTs. Generally the prices of our services and products are fixed and determinable at the time of sale. For RTs, we record a receivable for our fees which is then collected at the time the IRS issues the client’s refund. Our receivables from customers are generally collected on a periodic basis during and subsequent to the tax season. See note 4 for our accounts receivable balances.

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- 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
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