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

9 Months Ended

Mar. 31, 2020

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



	Three Months Ended March 31,					Nine Months Ended March 31,
	2020		2019			2020		2019
Gains on derivatives not designated as hedging instruments (1)	$	18,039	$	1,258		$	25,730	$	19,802
Currency-related gains (losses), net (2)	3,950		(4,085		)	3,183		(3,011		)
Other gains	548		332			258		595
Total other income (expense), net	$	22,537	$	(2,495	)	$	29,171	$	17,386

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(1)	Primarily relates to both realized and unrealized gains 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 nine months ended March 31, 2020 and 2019 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 gains related to cross-currency swaps were $1,807 and $3,627 for the three and nine months ended March 31, 2020, respectively, as compared to unrealized gains of $2,146 and $3,389 for the three and nine months ended March 31, 2019, 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 March 31,		Nine Months Ended March 31,
	2020	2019	2020	2019
Weighted average shares outstanding, basic	26,024,229	30,763,055	27,608,387	30,837,207
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/RSAs	—	751,738	709,053	943,934
Shares used in computing diluted net (loss) income per share attributable to Cimpress plc	26,024,229	31,514,793	28,317,440	31,781,141
Weighted average anti-dilutive shares excluded from diluted net (loss) income per share attributable to Cimpress plc (1)	464,638	—	—	—

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(1)

In the periods in which a net loss is recognized, the impact of share options, RSUs and RSAs is not included as they are anti-dilutive.

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