XML 31 R21.htm IDEA: XBRL DOCUMENT v3.22.2.2

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

3 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Debt Securities, Held-to-maturity

The following is a summary of the net carrying amount, unrealized gains, unrealized losses, and fair value of held-to-maturity securities by type and contractual maturity as of September 30, 2022 and June 30, 2022.

			September 30, 2022
			Amortized cost												Unrealized losses						Fair value
Due within one year or less:
Commercial paper			$	50,608											$	(261)					$	50,347
Corporate debt securities			51,118												(518)						50,600
Total due within one year or less			$	101,726											$	(779)					$	100,947
Due between one and two years:
Corporate debt securities			$	13,239											$	(271)					$	12,968
U.S. government securities			9,210												(124)						9,086
Total held-to-maturity securities			$	124,175											$	(1,174)					$	123,001

			June 30, 2022
			Amortized cost						Unrealized losses												Fair value
Due within one year or less:
Corporate debt securities			$	49,952					$	(546)											$	49,406
Total held-to-maturity securities			$	49,952					$	(546)											$	49,406

Interest and Other Income

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

			Three Months Ended September 30,
			2022						2021
Gains on derivatives not designated as hedging instruments (1)			$	28,645					$	13,327
Currency-related (losses) gains, net (2)			(197)						323
Other losses			(1,051)						(480)
Total other income, net			$	27,397					$	13,170

_____________________

(1) Includes realized and unrealized gains and losses on derivative currency forward and option contracts not designated as hedging instruments,as well as the ineffective portion of certain interest rate swap contracts that were de-designated from hedge accounting in the prior period. For contracts not designated as hedging instruments, we realized gains of $14,621 and losses of $3,672 for the three months ended September 30, 2022 and 2021, respectively. Refer to Note 4 for additional details relating to our derivative contracts.

(2) Currency-related (losses) gains, net primarily relates to significant non-functional currency intercompany financing relationships that we may change at times and are subject to currency exchange rate volatility. In addition, we have a cross-currency swap designated as a cash flow hedge which hedges the remeasurement of an intercompany loan. Refer to Note 4 for additional details relating to this cash flow hedge.

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 September 30,
			2022						2021
Weighted average shares outstanding, basic and diluted			26,178,818						26,072,249
Weighted average anti-dilutive shares excluded from diluted net loss per share attributable to Cimpress plc (1)(2)			2,688,813						530,011

___________________

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

(2) On May 1, 2020, we entered into a financing arrangement with Apollo Global Management, Inc., which included 7-year warrants with a strike price of $60 that have a potentially dilutive impact on our weighted average shares outstanding. For the three months ended September 30, 2022 and 2021, the weighted average anti-dilutive effect of the warrants were 1,055,377 and 409,561 shares, respectively

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 information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=123581744&loc=SL120269825-111563

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=123581744&loc=SL120269820-111563

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27232-111563

+ Details

Name:	us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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:	dtr-types: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=124432515&loc=d3e3550-109257

+ Details

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