XML 67 R40.htm IDEA: XBRL DOCUMENT
v3.21.2

Segment Information (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2021
Segment Reporting, Revenue Reconciling Item [Line Items] |
Reconciliation of Revenue from Segments to Consolidated | The following tables set forth revenue by reportable segment, as well as disaggregation of revenue by major geographic region and reportable segment.
|  |  | Year Ended June 30, |  |
|  |  |  |  | 2021 |  | 2020 |  | 2019 |  |
Revenue: |  |  |  |  |  |  |  |  |  |  |
Vistaprint |  |  |  |  | $ | 1,444,807 |  |  | $ | 1,337,291 |  |  | $ | 1,508,322 |  |  |
PrintBrothers |  |  |  |  | 421,766 |  |  | 417,921 |  |  | 443,987 |  |  |
The Print Group |  |  |  |  | 275,534 |  |  | 275,214 |  |  | 325,872 |  |  |
National Pen |  |  |  |  | 313,528 |  |  | 299,474 |  |  | 348,409 |  |  |
All Other Businesses |  |  |  |  | 192,038 |  |  | 173,789 |  |  | 136,202 |  |  |
Total segment revenue |  |  |  |  | 2,647,673 |  |  | 2,503,689 |  |  | 2,762,792 |  |  |
Inter-segment eliminations (1) |  |  |  |  | (55,160) |  |  | (22,331) |  |  | (11,716) |  |  |
Total consolidated revenue |  |  |  |  | $ | 2,592,513 |  |  | $ | 2,481,358 |  |  | $ | 2,751,076 |  |  |
_____________________ (1) Refer to the "Revenue by Geographic Region" tables below for detail of the inter-segment revenue within each respective segment.
Revenue from External Customers by Geographic Areas [Table Text Block] | The following tables set forth revenues by geographic area and groups of similar products and services:
|  |  | Year Ended June 30,
|  |  |  |  | 2021 |  | 2020 |  | 2019
United States |  |  |  |  | $ | 1,199,436 |  |  | $ | 1,251,531 |  |  | $ | 1,361,438 |
Germany (1) |  |  |  |  | 350,281 |  |  | 351,348 |  |  | 367,375 |
Other (2) |  |  |  |  | 1,042,796 |  |  | 878,479 |  |  | 1,022,263 |
Total revenue |  |  |  |  | $ | 2,592,513 |  |  | $ | 2,481,358 |  |  | $ | 2,751,076 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The following table includes segment EBITDA by reportable segment, total income from operations and total (loss) income before income taxes:
|  |  | Year Ended June 30,
|  |  |  |  | 2021 |  | 2020 |  |  |  | 2019
Segment EBITDA: |  |  |  |  |  |  |  |  |  |  |
Vistaprint |  |  |  |  | $ | 324,715 |  |  | $ | 366,334 |  |  |  |  | $ | 349,697 |
PrintBrothers |  |  |  |  | 43,144 |  |  | 39,373 |  |  |  |  | 43,474 |
The Print Group |  |  |  |  | 43,126 |  |  | 51,606 |  |  |  |  | 63,997 |
National Pen |  |  |  |  | 11,644 |  |  | 7,605 |  |  |  |  | 17,299 |
All Other Businesses |  |  |  |  | 31,707 |  |  | 17,474 |  |  |  |  | (6,317) |
Total segment EBITDA |  |  |  |  | 454,336 |  |  | 482,392 |  |  |  |  | 468,150 |
Central and corporate costs |  |  |  |  | (135,398) |  |  | (140,398) |  |  |  |  | (117,295) |
Depreciation and amortization |  |  |  |  | (173,212) |  |  | (167,943) |  |  |  |  | (172,957) |
Waltham, MA lease depreciation adjustment (1) |  |  |  |  | — |  |  | — |  |  |  |  | 4,120 |
Proceeds from insurance |  |  |  |  | (122) |  |  | — |  |  |  |  | — |
Earn-out related charges |  |  |  |  | — |  |  | 54 |  |  |  |  | — |
Share-based compensation related to investment consideration |  |  |  |  | — |  |  | — |  |  |  |  | (2,893) |
Certain impairments and other adjustments (2) |  |  |  |  | (20,453) |  |  | (104,593) |  |  |  |  | (10,700) |
Restructuring-related charges |  |  |  |  | (1,641) |  |  | (13,543) |  |  |  |  | (12,054) |
Interest expense for Waltham, MA lease (1) |  |  |  |  | — |  |  | — |  |  |  |  | 7,236 |
Total income from operations |  |  |  |  | 123,510 |  |  | 55,969 |  |  |  |  | 163,607 |
Other (expense) income, net |  |  |  |  | (11,835) |  |  | 22,874 |  |  |  |  | 26,476 |
Interest expense, net |  |  |  |  | (119,368) |  |  | (75,840) |  |  |  |  | (63,171) |
Loss on early extinguishment of debt |  |  |  |  | (48,343) |  |  | — |  |  |  |  | — |
(Loss) income before income taxes |  |  |  |  | $ | (56,036) |  |  | $ | 3,003 |  |  |  |  | $ | 126,912 |
___________________ (1) Upon the adoption of the new leasing standard on July 1, 2019, our Waltham, MA 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 are no longer made after such adoption as any impact from the Waltham lease is now reflected in operating income. (2) For the year ended June 30, 2021, certain impairments and other adjustments includes lease impairment and abandonment charges for two leased locations totaling $19,882. Refer to Note 16 for additional details. For the year ended June 30, 2020, certain impairments and other adjustments includes impairments of goodwill defined by ASC 350 - "Intangibles - Goodwill and Other" of $100,842, as well as losses of $1,520 recognized for fair value adjustments to the disposal group related to our VIDA sale. During the year ended June 30, 2019 we recognized reserves for loans as defined by ASC 326 - "Financial Instruments - Credit Losses".
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated |
|  |  | Year Ended June 30,
|  |  |  |  | 2021 |  | 2020 |  | 2019
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Vistaprint |  |  |  |  | $ | 58,513 |  |  | $ | 59,029 |  |  | $ | 67,317 |
PrintBrothers |  |  |  |  | 22,089 |  |  | 21,010 |  |  | 22,108 |
The Print Group |  |  |  |  | 27,066 |  |  | 24,769 |  |  | 29,437 |
National Pen |  |  |  |  | 25,123 |  |  | 23,654 |  |  | 21,642 |
All Other Businesses |  |  |  |  | 19,811 |  |  | 23,755 |  |  | 17,068 |
Central and corporate costs |  |  |  |  | 20,610 |  |  | 15,726 |  |  | 16,199 |
Total depreciation and amortization |  |  |  |  | $ | 173,212 |  |  | $ | 167,943 |  |  | $ | 173,771 |
|  |  | Year Ended June 30,
|  |  |  |  | 2021 |  | 2020 |  | 2019
Purchases of property, plant and equipment: |  |  |  |  |  |  |  |  |
Vistaprint |  |  |  |  | $ | 12,332 |  |  | $ | 15,986 |  |  | $ | 32,820 |
PrintBrothers |  |  |  |  | 3,609 |  |  | 4,315 |  |  | 3,521 |
The Print Group |  |  |  |  | 11,847 |  |  | 17,136 |  |  | 7,908 |
National Pen |  |  |  |  | 3,603 |  |  | 5,016 |  |  | 8,346 |
All Other Businesses |  |  |  |  | 5,466 |  |  | 4,242 |  |  | 16,996 |
Central and corporate costs |  |  |  |  | 1,667 |  |  | 3,772 |  |  | 972 |
Total purchases of property, plant and equipment |  |  |  |  | $ | 38,524 |  |  | $ | 50,467 |  |  | $ | 70,563 |
|  |  | Year Ended June 30,
|  |  |  |  | 2021 |  | 2020 |  | 2019
Capitalization of software and website development costs: |  |  |  |  |  |  |  |  |
Vistaprint |  |  |  |  | $ | 28,297 |  |  | $ | 18,381 |  |  | $ | 23,369 |
PrintBrothers |  |  |  |  | 1,465 |  |  | 990 |  |  | 1,787 |
The Print Group |  |  |  |  | 1,603 |  |  | 1,484 |  |  | 2,327 |
National Pen |  |  |  |  | 3,115 |  |  | 3,290 |  |  | 3,624 |
All Other Businesses |  |  |  |  | 3,746 |  |  | 3,684 |  |  | 2,948 |
Central and corporate costs |  |  |  |  | 22,711 |  |  | 16,163 |  |  | 14,597 |
Total capitalization of software and website development costs |  |  |  |  | $ | 60,937 |  |  | $ | 43,992 |  |  | $ | 48,652 |
Revenue from External Customers by Products and Services [Table Text Block] |
|  |  | Year Ended June 30,
|  |  |  |  | 2021 |  | 2020 |  | 2019
Physical printed products and other (3) |  |  |  |  | $ | 2,477,158 |  |  | $ | 2,431,367 |  |  | $ | 2,700,167 |
Digital products/services (4) |  |  |  |  | 115,355 |  |  | 49,991 |  |  | 50,909 |
Total revenue |  |  |  |  | $ | 2,592,513 |  |  | $ | 2,481,358 |  |  | $ | 2,751,076 |
__________________ (1) Our revenues within the German market exceeded 10% of our total consolidated revenue. Therefore, we have presented Germany as a significant geographic area. (2) Our other revenue includes Ireland, our country of domicile. (3) Other revenue includes miscellaneous items which account for less than 1% of revenue. (4) Digital products/service revenue includes revenue associated with design services and for the year ended June 30, 2021 includes revenue from our 99designs business which was acquired on October 1, 2020. Refer to Note 7 for additional details.
Revenues and long-lived assets by geographic area | The following table sets forth long-lived assets by geographic area:
| June 30, 2021 |  | June 30, 2020
Long-lived assets (1): |  |  |
United States | $ | 107,868 |  |  | $ | 161,853 |
Netherlands | 75,996 |  |  | 82,897 |
Canada | 60,779 |  |  | 67,367 |
Switzerland | 68,880 |  |  | 58,013 |
Italy | 47,776 |  |  | 46,317 |
Jamaica | 20,550 |  |  | 21,563 |
Australia | 21,298 |  |  | 19,695 |
France | 25,417 |  |  | 23,917 |
Japan | 14,891 |  |  | 15,430 |
Other | 96,063 |  |  | 94,922 |
Total | $ | 539,518 |  |  | $ | 591,974 |
___________________ (1) Excludes goodwill of $726,979 and $621,904, intangible assets, net of $186,744 and $209,228, deferred tax assets of $149,618 and $143,496, and marketable securities, non-current of $50,713 and zero as of June 30, 2021 and June 30, 2020, respectively.

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph a -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideDisclosureOnGeographicAreasLongLivedAssetsInIndividualForeignCountriesByCountryTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_SegmentReportingRevenueReconcilingItemLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration