XML 51 R25.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Summary of Significant Accounting Policies Summary of Significant Accounting Principles (Tables)

6 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Interest and Other Income

The following table summarizes the components of other (expense) income, net:

	Three Months Ended December 31,								Six Months Ended December 31,
	2019				2018				2019				2018
(Losses) gains on derivatives not designated as hedging instruments (1)	$	(11,666	)		$	11,171			$	7,691			$	18,544
Currency-related gains (losses), net (2)	2,645				(1,023		)		(767		)		1,074
Other (losses) gains	(19		)		(519		)		(290		)		263
Total other (expense) income, net	$	(9,040	)		$	9,629			$	6,634			$	19,881

_____________________

(1) Primarily relates to both realized and unrealized gains (losses) on derivative currency forward and option contracts not designated as hedging instruments.

(2) We have significant non-functional currency intercompany financing relationships that we may change at times and are subject to currency exchange rate volatility. The currency-related gains (losses), net for the three and six months ended December 31, 2019 and 2018 are primarily driven by this intercompany activity. In addition, we have certain cross-currency swaps designated as cash flow hedges, which hedge the remeasurement of certain intercompany loans, both presented in the same component above. Unrealized losses related to cross-currency swaps were $2,858 and unrealized gains were $1,820 for the three and six months ended December 31, 2019, respectively, as compared to unrealized gains of $2,080 and $1,243 for the three and six months ended December 31, 2018, respectively.

Schedule of Weighted Average Number of Shares

The following table sets forth the reconciliation of the weighted-average number of ordinary shares:

	Three Months Ended December 31,						Six Months Ended December 31,
	2019			2018			2019			2018
Weighted average shares outstanding, basic	27,036,675			30,863,339			28,391,855			30,873,478
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/RSAs	880,084			957,158			831,261			1,040,032
Shares used in computing diluted net income per share attributable to Cimpress plc	27,916,759			31,820,497			29,223,116			31,913,510

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table summarizes the cumulative effect of adopting the new lease standard as of the adoption date of July 1, 2019:

Consolidated Balance Sheet	As reported at June 30, 2019				ASC 842 adjustments				Adjusted balance at July 1, 2019
Assets
Prepaid expenses and other current assets	$	78,065			$	(59	)		$	78,006
Property, plant and equipment, net	490,755				(121,254		)		369,501
Operating lease assets, net	—				169,668				169,668
Deferred tax assets	59,906				(817		)		59,089
Liabilities and shareholders' equity
Operating lease liabilities, current	$	—			$	37,342			$	37,342
Other current liabilities	27,881				(12,569		)		15,312
Lease financing obligation	112,096				(112,096		)		—
Operating lease liabilities, non-current	—				139,041				139,041
Other liabilities	53,716				(7,169		)		46,547
Retained earnings	537,422				2,989				540,411

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of interest income and income classified as other.

+ References

No definition available.

+ Details

Name:	us-gaap_InterestAndOtherIncomeTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

+ Details

Name:	us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfWeightedAverageNumberOfSharesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration