XML 30 R20.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Segment Information (Notes) | 9 Months Ended
--- | ---
Mar. 31, 2016
Segment Reporting [Abstract] |
Segment Information | Segment Information During the first quarter of fiscal 2016, we revised our internal organizational and reporting structure resulting in changes to our reportable segments. Our operating segments are based upon the manner in which our operations are managed and the availability of separate financial information reported internally to the Chief Executive Officer, who is our Chief Operating Decision Maker (“CODM”) for purposes of making decisions about how to allocate resources and assess performance. As of March 31, 2016 we have several operating segments under our management reporting structure which are reported in the following three reportable segments:
• | Vistaprint business unit - Includes the operations of our Vistaprint-branded websites focused on the North America, Europe, Australia and New Zealand markets, and our Webs-branded business, which is managed with the Vistaprint-branded digital business in the previously listed geographies.
• | Upload and Print business units - This operating segment includes the results of our druck.at, Exagroup, Easyflyer, Printdeal, Pixartprinting,Tradeprint, and WIRmachenDRUCK branded businesses.
• | All Other business units - Includes the operations of our Albumprinter and Most of World business units and newly formed Corporate Solutions business unit. Our Most of World business unit is focused on our emerging market portfolio, including operations in Brazil, China, India and Japan. The results of the newly formed Corporate Solutions business unit were previously part of the Vistaprint business unit, and the Corporate Solutions business unit will focus on delivering volume and revenue via partnerships. These business units have been combined into one reportable segment based on materiality.
Consistent with our historical reporting, the cost of our global legal, human resource, finance, facilities management, software and manufacturing engineering, the global component of our IT operations functions, and certain start-up costs related to new product introductions and manufacturing technologies are generally not allocated to the reporting segments and are instead reported and disclosed under the caption "Corporate and global functions." Corporate and global functions is a cost center and does not meet the definition of an operating segment. We have revised our presentation of all prior periods presented to reflect our revised segment reporting. In addition, during the first quarter of fiscal 2016 we introduced adjusted net operating profit as the primary metric by which our CODM measures segment financial performance. Certain items are excluded from segment adjusted net operating profit, such as acquisition-related amortization and depreciation, expense recognized for earn-out related charges, including the changes in fair value of contingent consideration and compensation expense related to cash-based earn-out mechanisms dependent upon continued employment, share-based compensation related to investment consideration, certain impairment expense and restructuring charges. A portion of the interest expense associated with our Waltham lease is included as expense in adjusted net operating profit and allocated based on headcount to the appropriate business unit or corporate and global function. The interest expense represents a portion of the cash rent payment and is considered an operating expense for purposes of measuring our segment performance. There are no internal revenue transactions between our operating segments, and we do not allocate non-operating income to our segment results. All intersegment transfers are recorded at cost for presentation to the CODM, for example, we allocate costs related to products manufactured by our global network of production facilities to the applicable operating segment. There is no intercompany profit or loss recognized on these transactions. The following factors, among others, may limit the comparability of adjusted net operating profit by segment:
• | We do not allocate global support costs across operating segments or corporate and global functions.
• | Some of our acquired operations in our Upload and Print business units and All Other business units segments are burdened by the costs of their local finance, HR, and other administrative support functions, whereas other business units leverage our global functions and do not receive an allocation for these services.
• | Our All Other business units reporting segment includes our Most of World business unit, which has operating losses as it is in its early stage of investment relative to the scale of the underlying business.
Our balance sheet information is not presented to the CODM on an allocated basis, and therefore we do not present asset information by segment. Revenue by segment is based on the business unit-specific websites through which the customer’s order was transacted. The following tables set forth revenue, adjusted net operating profit by reportable segment, total income from operations and total income before taxes.
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2016 |  | 2015 |  | 2016 |  | 2015
Revenue: |  |  |  |  |  |  |
Vistaprint business unit | $ | 289,901 |  |  | $ | 268,490 |  |  | $ | 912,153 |  |  | $ | 875,184 |
Upload and Print business units | 116,356 |  |  | 38,674 |  |  | 286,171 |  |  | 121,382 |
All Other business units | 30,560 |  |  | 32,737 |  |  | 110,515 |  |  | 117,172 |
Total revenue | $ | 436,817 |  |  | $ | 339,901 |  |  | $ | 1,308,839 |  |  | $ | 1,113,738 |
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2016 |  | 2015 |  | 2016 |  | 2015
Adjusted net operating profit by segment: |  |  |  |  |  |  |  |  |
Vistaprint business unit | $ | 79,791 |  |  | $ | 69,255 |  |  | $ | 263,974 |  |  | $ | 249,049 |
Upload and Print business units | 15,880 |  |  | 3,438 |  |  | 42,004 |  |  | 13,575 |
All Other business units | (3,895 | ) |  | 451 |  |  | 1,901 |  |  | 10,319 |
Total adjusted net operating profit by segment | 91,776 |  |  | 73,144 |  |  | 307,879 |  |  | 272,943 |
Corporate and global functions | (60,770 | ) |  | (54,757 | ) |  | (170,451 | ) |  | (156,304 | )
Acquisition-related amortization and depreciation | (10,879 | ) |  | (4,515 | ) |  | (30,316 | ) |  | (16,891 | )
Earn-out related charges (1) | (883 | ) |  | (7,512 | ) |  | (4,585 | ) |  | (14,890 | )
Share-based compensation related to investment consideration | (1,168 | ) |  | (1,499 | ) |  | (3,705 | ) |  | (3,096 | )
Certain impairments (2) | (37,582 | ) |  | — |  |  | (40,604 | ) |  | — |
Restructuring charges | — |  |  | (520 | ) |  | (381 | ) |  | (674 | )
Interest expense for Waltham lease | 1,975 |  |  | — |  |  | 4,326 |  |  | — |
Total income from operations | (17,531 | ) |  | 4,341 |  |  | 62,163 |  |  | 81,088 |
Other income, net | (9,003 | ) |  | 8,291 |  |  | 7,929 |  |  | 30,282 |
Interest expense, net | (10,091 | ) |  | (3,131 | ) |  | (28,377 | ) |  | (9,508 | )
Income before income taxes | $ | (36,625 | ) |  | $ | 9,501 |  |  | $ | 41,715 |  |  | $ | 101,862 |
___________________ (1) Includes expense recognized for the change in fair value of contingent consideration and compensation expense related to cash-based earn-out mechanisms dependent upon continued employment. (2) Includes the impact of impairments or abandonments of goodwill and other long-lived assets as defined by ASC 350 - "Intangibles - Goodwill and Other" or ASC 360 - "Property, plant, and equipment."
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2016 |  | 2015 |  | 2016 |  | 2015
Depreciation and amortization: |  |  |  |  |  |  |
Vistaprint business unit | $ | 10,049 |  |  | $ | 9,679 |  |  | $ | 30,106 |  |  | $ | 29,704 |
Upload and Print business units | 12,850 |  |  | 5,119 |  |  | 33,399 |  |  | 16,103 |
All Other business units | 4,667 |  |  | 3,137 |  |  | 14,637 |  |  | 10,994 |
Corporate and global functions | 6,888 |  |  | 4,467 |  |  | 18,375 |  |  | 12,955 |
Total depreciation and amortization | $ | 34,454 |  |  | $ | 22,402 |  |  | $ | 96,517 |  |  | $ | 69,756 |
Enterprise Wide Disclosures: The following tables set forth revenues by geographic area and groups of similar products and services:
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2016 |  | 2015 |  | 2016 |  | 2015
United States | $ | 192,933 |  |  | $ | 177,268 |  |  | $ | 580,009 |  |  | $ | 532,243 |
Non-United States (3) | 243,884 |  |  | 162,633 |  |  | 728,830 |  |  | 581,495 |
Total revenue | $ | 436,817 |  |  | $ | 339,901 |  |  | $ | 1,308,839 |  |  | $ | 1,113,738 |
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2016 |  | 2015 |  | 2016 |  | 2015
Physical printed products and other (4) | $ | 421,402 |  |  | $ | 322,564 |  |  | $ | 1,260,647 |  |  | $ | 1,059,805 |
Digital products/services | 15,415 |  |  | 17,337 |  |  | 48,192 |  |  | 53,933 |
Total revenue | $ | 436,817 |  |  | $ | 339,901 |  |  | $ | 1,308,839 |  |  | $ | 1,113,738 |
___________________ (3) Our non-United States revenue includes the Netherlands, our country of domicile. (4) Other revenue includes miscellaneous items which account for less than 1% of revenue. The following tables set forth long-lived assets by geographic area:
| March 31, 2016 |  | June 30, 2015
Long-lived assets (5): |  |  |  |  |
Netherlands | $ | 93,438 |  |  | $ | 98,288 |
Canada | 89,696 |  |  | 99,474 |
Switzerland | 38,479 |  |  | 41,357 |
Italy | 33,874 |  |  | 28,548 |
United States | 32,189 |  |  | 31,417 |
Australia | 25,544 |  |  | 26,908 |
France | 25,081 |  |  | 21,449 |
Jamaica | 22,851 |  |  | 23,814 |
Japan | 21,530 |  |  | 16,219 |
Other | 50,062 |  |  | 29,946 |
Total | $ | 432,744 |  |  | $ | 417,420 |
___________________ (5) Excludes goodwill of $474,736 and $400,629, intangible assets, net of $232,100 and $151,063, the Waltham lease asset of $121,193 and $104,315, and deferred tax assets of $21,560 and $17,172 as of March 31, 2016 and June 30, 2015, respectively.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration