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Segment Information (Tables)

3 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Segment Reporting, Revenue Reconciling Item [Line Items]

Reconciliation of Revenue from Segments to Consolidated

The following tables set forth revenue by reportable segments, as well as disaggregation of revenue by major geographic regions and reportable segments.

	Three Months Ended September 30,
	2019				2018
Revenue:
Vistaprint (1)	$	343,171			$	345,320
PrintBrothers (2)	109,290				101,389
The Print Group (3)	72,258				71,000
National Pen (4)	70,163				65,971
All Other Businesses (5)	42,276				7,715
Total segment revenue	637,158				591,395
Inter-segment eliminations	(3,199		)		(2,414		)
Total consolidated revenue	$	633,959			$	588,981

_____________________

(1) Vistaprint segment revenues include inter-segment revenue of $1,328 and $1,249 for the three months ended September 30, 2019 and 2018, respectively.

(2) PrintBrothers segment revenues include inter-segment revenue of $243 and $359 for the three months ended September 30, 2019 and 2018, respectively.

(3) The Print Group segment revenues include inter-segment revenue of $432 and $56 for the three months ended September 30, 2019 and 2018, respectively.

(4) National Pen segment revenues include inter-segment revenue of $981 and $750 for the three months ended September 30, 2019 and 2018 respectively.

(5) All Other Businesses segment revenues include inter-segment revenue of $215 for the three months ended September 30, 2019. There was no inter-segment revenue for the three months ended September 30, 2018. Our All Other Businesses segment includes the revenue from our BuildASign acquisition from October 1, 2018

Disaggregation of Revenue

	Three Months Ended September 30, 2019
	Vistaprint				PrintBrothers				The Print Group				National Pen				All Other				Total
North America	$	247,085			$	—			$	—			$	41,542			$	35,406			$	324,033
Europe	74,458				109,047				71,826				22,313				—				277,644
Other	20,300				—				—				5,327				6,655				32,282
Inter-segment	1,328				243				432				981				215				3,199
Total segment revenue	343,171				109,290				72,258				70,163				42,276				637,158
Less: inter-segment elimination	(1,328		)		(243		)		(432		)		(981		)		(215		)		(3,199		)
Total external revenue	$	341,843			$	109,047			$	71,826			$	69,182			$	42,061			$	633,959

	Three Months Ended September 30, 2018
	Vistaprint				PrintBrothers				The Print Group				National Pen				All Other				Total
North America	$	246,121			$	—			$	—			$	38,558			$	1,727			$	286,406
Europe	76,671				101,030				70,944				21,036				—				269,681
Other	21,279				—				—				5,627				5,988				32,894
Inter-segment	1,249				359				56				750				—				2,414
Total segment revenue	345,320				101,389				71,000				65,971				7,715				591,395
Less: inter-segment elimination	(1,249		)		(359		)		(56		)		(750		)		—				(2,414		)
Total external revenue	$	344,071			$	101,030			$	70,944			$	65,221			$	7,715			$	588,981

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table includes segment EBITDA by reportable segment, total income (loss) from operations and total income (loss) before income taxes.

	Three Months Ended September 30,
	2019				2018
Segment EBITDA:
Vistaprint	$	80,580			$	59,994
PrintBrothers	10,777				10,571
The Print Group	13,634				11,846
National Pen	(9,850		)		(16,468		)
All Other Businesses	1,717				(4,722		)
Total segment EBITDA	96,858				61,221
Central and corporate costs	(26,930		)		(29,287		)
Depreciation and amortization	(42,535		)		(40,718		)
Waltham, MA lease depreciation adjustment (1)	—				1,030
Certain impairments and other adjustments	176				87
Restructuring-related charges	(2,190		)		(170		)
Interest expense for Waltham, MA lease (1)	—				1,849
Total income (loss) from operations	25,379				(5,988		)
Other income, net	15,674				10,252
Interest expense, net	(15,087		)		(13,777		)
Income (loss) before income taxes	$	25,966			$	(9,513	)

___________________

(1) Upon the adoption of the new leasing standard on July 1, 2019, our Waltham, Massachusetts lease, which was previously classified as build-to-suit, is now classified as an operating lease under the new standard. Therefore, the Waltham depreciation and interest expense adjustments that were made in comparative periods will no longer be made beginning in the first fiscal quarter of 2020, as any impact from the Waltham lease will be reflected in operating income. Refer to Note 2 for additional details.

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

	Three Months Ended September 30,
	2019				2018
Depreciation and amortization:
Vistaprint	$	16,275			$	17,321
PrintBrothers	5,255				6,413
The Print Group	6,233				7,731
National Pen	5,581				5,124
All Other Businesses	5,973				583
Central and corporate costs	3,218				3,546
Total depreciation and amortization	$	42,535			$	40,718

	Three Months Ended September 30,
	2019				2018
Purchases of property, plant and equipment:
Vistaprint	$	4,505			$	12,056
PrintBrothers	331				1,729
The Print Group	4,105				1,996
National Pen	2,016				4,727
All Other Businesses	1,775				285
Central and corporate costs	1,461				233
Total purchases of property, plant and equipment	$	14,193			$	21,026

	Three Months Ended September 30,
	2019				2018
Capitalization of software and website development costs:
Vistaprint	$	6,665			$	7,258
PrintBrothers	331				287
The Print Group	451				495
National Pen	836				900
All Other Businesses	963				90
Central and corporate costs	3,225				2,203
Total capitalization of software and website development costs	$	12,471			$	11,233

Revenues and long-lived assets by geographic area

The following table sets forth long-lived assets by geographic area:

	September 30, 2019				June 30, 2019
Long-lived assets (1):
United States	$	170,978			$	57,118
Netherlands	105,812				73,601
Canada	78,672				73,447
Switzerland	65,353				57,488
Italy	44,613				43,203
Jamaica	21,253				21,267
Australia	21,111				20,749
France	21,624				18,533
Japan	16,937				17,768
Other	109,211				79,006
Total	$	655,564			$	462,180

___________________

(1) Excludes goodwill of $711,670 and $718,880, intangible assets, net of $245,514 and $262,701, and deferred tax assets of $57,527 and $59,906 as of September 30, 2019 and June 30, 2019, respectively. Build-to-suit lease assets of $124,408 are excluded for the year ended June 30, 2019, and upon our adoption of ASC 842 on July 1, 2019, our Waltham, MA build-to-suit lease has been reclassified as an operating lease and the build-to-suit lease balance is zero.

As of September 30, 2019, all operating lease assets are recognized within the balances above. Refer to Note 2 for additional details.

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