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

9 Months Ended

Mar. 31, 2023

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 March 31, 2023 and June 30, 2022.


	March 31, 2023
	Amortized cost		Unrealized losses		Fair value
Due within one year or less:
Commercial paper	$	30,791	$	(96)	$	30,695
Corporate debt securities	32,242		(241)		32,001
U.S. government securities	5,272		(57)		5,215
Total due within one year or less	68,305		(394)		67,911
Due between one and two years:
Corporate debt securities	2,496		(54)		2,442
U.S. government securities	3,970		(61)		3,909
Total due within between one and two years	6,466		(115)		6,351

Total held-to-maturity securities	$	74,771	$	(509)	$	74,262


	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 March 31,				Nine Months Ended March 31,
	2023		2022		2023		2022
(Losses) gains on derivatives not designated as hedging instruments (1)	$	(2,428)	$	11,210	$	2,021	$	31,017
Currency-related gains (losses), net (2)	4,187		(672)		10,217		5,202
Other (losses) gains	(382)		1,783		(856)		2,111
Total other income, net	$	1,377	$	12,321	$	11,382	$	38,330

_____________________

(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 periods. For contracts not designated as hedging instruments, we realized gains of $4,876 and $35,864 for the three and nine months ended March 31, 2023, and gains of $2,011 and losses $2,407 for the three and nine months ended March 31, 2022. Losses on ineffective interest rate swaps amounted to $6,580 and $6,364 for the three and nine months ended March 31, 2022, compared to no gains or losses in the current periods. Refer to Note 4 for additional details relating to our derivative contracts.

(2) Currency-related gains (losses), 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 March 31,		Nine Months Ended March 31,
	2023	2022	2023	2022
Weighted average shares outstanding, basic and diluted	26,268,301	26,102,610	26,226,989	26,090,460


Weighted average anti-dilutive shares excluded from diluted net loss per share attributable to Cimpress plc (1)(2)	3,161,275	908,354	3,045,675	770,500

___________________

(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 and nine months ended March 31, 2023, the weighted average anti-dilutive effect of the warrants was 1,055,377 shares in both periods, and 103,443 and 264,963 shares for the three and nine months ended March 31, 2022, respectively.