Other Balance Sheet Components

9 Months Ended

Mar. 31, 2022

Accrued expenses included the following:


	March 31, 2022		June 30, 2021
Compensation costs	$	79,593	$	73,861
Income and indirect taxes	50,793		46,074
Advertising costs	24,217		35,093
Shipping costs	9,617		9,401
Third party manufacturing and digital content costs (1)	15,465		6,881
Sales returns	5,323		5,636
Purchases of property, plant and equipment	2,174		1,110
Professional fees	2,748		4,210
Interest payable (2)	12,972		2,399
Other	59,718		62,848
Total accrued expenses	$	262,620	$	247,513

_______________________

(1) The increase in third party manufacturing and digital content costs from June 30, 2022 to March 31, 2022 is due to the acquisition of Depositphotos on October 1, 2021. Refer to Note 7 for additional details.

(2) The increase in interest payable as of March 31, 2022, is due to the interest on our 2026 Notes being payable semi-annually on June 15 and December 15 of each year. Refer to Note 9 for further detail.

Other current liabilities included the following:


	March 31, 2022		June 30, 2021
Current portion of finance lease obligations (1)	$	6,867	$	32,314
Short-term derivative liabilities (2)	3,998		20,530


Other (3)	16,341		50,671
Total other current liabilities	$	27,206	$	103,515

________________________

(1) The decrease in the current portion of our finance lease obligations is primarily due to the exercise of a purchase option for a previously leased facility that decreased our finance lease liability by $23,534. We immediately sold this facility to a third party and recognized a $3,324 gain on the sale of the asset during the nine months ended March 31, 2022. Refer to Note 2 for additional details.

(2) The decrease in short-term derivative liabilities is due to volatility in interest and foreign currency rates. Refer to Note 4 for additional details about our derivative financial instruments.

(3) Other current liabilities decreased primarily due to the $43,647 payment made in February 2022 for our prior year acquisition of 99designs.

Other liabilities included the following:


	March 31, 2022		June 30, 2021
Long-term finance lease obligations	$	14,982	$	18,528
Long-term derivative liabilities (1)	7,724		41,074


Other	40,047		36,808
Total other liabilities	$	62,753	$	96,410

(1) The decrease in long-term derivative liabilities is due to volatility in interest and currency rates. Refer to Note 4 for additional details about our derivative financial instruments.