Software and website development costs, net

507,299

511,947

52,040

48,470

Deferred tax assets

66,022

48,004

Other current liabilities

531,199

514,963

Intangible assets, net

258,657

275,924

Other assets

28,238

34,560

Total assets

1,678,940

1,679,869

Current liabilities:

Accounts payable

165,798

127,386

Accrued expenses

219,707

175,567

Deferred revenue

28,824

30,372

Short-term debt

^[1]

35,569

28,926

89,269

78,435

Liabilities held for sale

8,797

Total current liabilities

539,167

449,483

Deferred tax liabilities

57,008

60,743

Lease financing obligation

104,737

106,606

Long-term debt

664,961

847,730

Other liabilities

107,884

94,683

Total liabilities

1,473,757

1,559,245

Temporary equity

Redeemable noncontrolling interests

85,478

45,412

Shareholders’ equity:

Preferred shares, par value €0.01 per share, 100,000,000 shares authorized; none issued and outstanding

Ordinary shares, par value €0.01 per share, 100,000,000 shares authorized; 44,080,627 shares issued; and 30,973,620 and 31,415,503 shares outstanding, respectively

615

Treasury shares, at cost, 13,107,007 and 12,665,124 shares, respectively

(638,414)

(588,365)

Additional paid-in capital

378,121

361,376

Retained earnings

462,205

414,771

Total shareholders’ equity attributable to Cimpress N.V.

(83,093)

(113,398)

119,434

74,999

Noncontrolling Interest (Note 10)

271

213

Total shareholders' equity

119,705

75,212

Total liabilities, noncontrolling interests and shareholders’ equity

$ 1,678,940

$ 1,679,869

[1]	Balances as of December 31, 2017 and June 30, 2017 are inclusive of short-term debt issuance costs and debt discounts of $1,846 and$1,693, respectively

Consolidated Balance Sheets (Parenthetical) $ in Thousands	Dec. 31, 2017 USD ($) shares	Dec. 31, 2017 € / shares	Jun. 30, 2017 USD ($) shares	Jun. 30, 2017 € / shares
Current Assets
Allowance for doubtful accounts receivable, current \| $	$ 7,426		$ 3,590
Stockholders' Equity
Preferred shares, par value \| € / shares		€ 0.01		€ 0.01
Preferred shares, shares authorized	100,000,000		100,000,000
Preferred shares, shares issued	0		0
Preferred shares, shares outstanding	0		0
Ordinary shares, par value \| € / shares		€ 0.01		€ 0.01
Ordinary shares, shares authorized	100,000,000		100,000,000
Ordinary shares, shares issued	44,080,627		44,080,627
Common Stock, Shares, outstanding	30,973,620		31,415,503
Treasury shares, shares	13,107,007		12,665,124

Consolidated Statements of Operations - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2017

Dec. 31, 2016

Revenue

$ 762,054

$ 576,851

$ 1,325,338

$ 1,020,564

Cost of revenue (1)

^[1]

360,285

276,366

644,040

489,416

Technology and development expense (1)

^[1]

59,228

56,282

121,331

115,292

Marketing and selling expense (1)

^[1]

200,785

151,358

366,878

284,026

General and administrative expense (1)

^[1]

44,988

48,161

83,766

104,741

Amortization of acquired intangible assets

12,558

9,879

25,191

20,092

Restructuring expense (1)

^[1]

11,501

1,100

12,355

1,100

Gain (Loss) on sale of subsidiaries

(47,545)

Income from operations

72,709

33,705

119,322

5,897

Other (expense) income, net

(7,732)

30,549

(24,044)

28,417

Interest expense, net

(12,529)

(9,631)

(25,611)

(19,535)

Income before income taxes

52,448

54,623

69,667

14,779

Income tax expense

21,825

19,601

15,638

9,787

Net income

30,623

35,022

54,029

4,992

Add: Net (income) loss attributable to noncontrolling interest

(688)

(731)

933

Net income attributable to Cimpress N.V.

$ 29,935

$ 35,028

$ 53,298

$ 5,925

Basic net income per share attributable to Cimpress N.V.

$ 0.96

$ 1.12

$ 1.71

$ 0.19

Diluted net income per share attributable to Cimpress N.V.

$ 0.93

$ 1.07

$ 1.65

$ 0.18

Weighted average shares outstanding — basic

31,026,043

31,291,356

31,123,177

31,431,090

Weighted average shares outstanding — diluted

32,319,022

32,614,013

32,325,592

32,846,275

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

$ 13,314

$ 11,277

$ 20,226

$ 22,848

Cost of revenue

Technology and development expense

135

118

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

Marketing and selling expense

2,818

3,118

4,674

5,443

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

General and administrative expense

1,858

1,480

2,843

2,300

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

8,037

6,604

11,965

14,987

Restructuring expense (1)

11,501

1,100

12,355

1,100

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

Summary of Significant Accounting Policies

$ 506

$ 0

$ 609

$ 0

[1]	Share-based compensation is allocated as follows:

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Other comprehensive income (loss), net of tax:
Net income	$ 30,623	$ 35,022	$ 54,029	$ 4,992
Foreign currency translation gain (loss)	11,827	(47,148)	39,134	(37,970)
Net unrealized gains on derivative instruments designated and qualifying as cash flow hedges	3,159	9,244	6,730	7,475
Amounts reclassified from accumulated other comprehensive loss to net income on derivative instruments	(1,370)	(6,426)	(4,134)	(5,594)
Unrealized loss on available-for-sale-securities	0	(4,832)	0	(5,756)
Amounts reclassified from accumulated other comprehensive loss to net income for realized gains on available-for-sale securities	0	2,268	0	2,268
Gain on pension benefit obligation, net	0	0	0	36
Comprehensive income (loss)	44,239	(11,872)	95,759	(34,549)
Add: Comprehensive (income) loss attributable to noncontrolling interests	(1,650)	4,235	(4,734)	4,625
Total comprehensive income (loss) attributable to Cimpress N.V.	$ 42,589	$ (7,637)	$ 91,025	$ (29,924)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net income	$ 54,029	$ 4,992
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	83,683	72,382
Share-based compensation expense	20,226	22,848
Deferred taxes	(6,869)	(17,508)
Gain (Loss) on sale of subsidiaries	47,545	0
Change in contingent earn-out liability	1,774	22,766
Marketable Securities, Realized Gain	0	(2,268)
Unrealized loss (gain) on derivatives not designated as hedging instruments included in net income	4,541	(4,573)
Effect of exchange rate changes on monetary assets and liabilities denominated in non-functional currency	13,275	(13,246)
Other non-cash items	817	1,719
Changes in operating assets and liabilities:
Accounts receivable	(16,456)	822
Inventory	(7,357)	(4,187)
Prepaid expenses and other assets	(4,174)	(14,290)
Accounts payable	43,604	21,808
Accrued expenses and other liabilities	37,194	23,394
Net cash provided by operating activities	176,742	114,659
Investing activities
Purchases of property, plant and equipment	(38,674)	(36,260)
Proceeds from Divestiture of Businesses, Net of Cash Divested	93,779
Business acquisitions, net of cash acquired	(110)	(206,816)
Purchases of intangible assets	(278)	(88)
Capitalization of software and website development costs	(18,114)	(19,110)
Proceeds from sale of available-for-sale securities	0	6,346
Other investing activities	(669)	1,227
Net cash provided by (used in) investing activities	35,934	(254,701)
Financing activities
Proceeds from borrowings of debt	311,349	447,000
Payments of debt and debt issuance costs	(490,717)	(247,771)
Payments of withholding taxes in connection with equity awards	(2,098)	(8,864)
Payments of capital lease obligations	(9,462)	(6,814)
Payments for Repurchase of Common Stock	(55,139)	(50,008)
Purchase of noncontrolling interests	0	(20,230)
Proceeds from issuance of ordinary shares	9,019	257
Issuance of loans	(12,000)	0
Capital contribution from noncontrolling interest	35,390	0
Proceeds from (Payments to) Noncontrolling Interests	0	1,404
Other financing activities	(83)	1,281
Net cash (used in) provided by financing activities	(213,741)	116,255
Effect of exchange rate changes on cash	3,390	(4,051)
Increase in cash held for sale	12,042	0
Net decrease in cash and cash equivalents	14,367	(27,838)
Cash and cash equivalents at beginning of period	25,697	77,426
Cash and cash equivalents at end of period	40,064	49,588
Supplemental disclosures of cash flow information:
Interest	25,863	20,155
Income taxes	10,452	20,309
Property and equipment acquired under capital leases	112	4,912
Amounts accrued related to business acquisitions	$ 52,472	$ 27,155

Description of the Business	6 Months Ended
Description of the Business	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Description of the Business We are a technology driven company that aggregates, largely via the internet, large volumes of small, individually customized orders for a broad spectrum of print, signage, apparel and similar products. We operate in a largely decentralized manner. Our businesses, discussed in more detail below, fulfill orders with manufacturing capabilities that include Cimpress owned and operated manufacturing facilities and a network of third-party fulfillers to create customized products on demand. Those businesses bring their products to market through a portfolio of customer-focused brands serving the needs of micro, small and medium sized businesses, resellers and consumers. These brands include Vistaprint, our global brand for micro business marketing products and services, as well as brands that we have acquired that serve the needs of various market segments, including resellers, micro, small and medium sized businesses with differentiated service needs, and consumers purchasing products for themselves and their families.

Summary of Significant Accounting Policies

6 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and, accordingly, do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting primarily of normal recurring accruals, considered necessary for fair presentation of the results of operations for the interim periods reported and of our financial condition as of the date of the interim balance sheet have been included.

The consolidated financial statements include the accounts of Cimpress N.V., its wholly owned subsidiaries, entities in which we maintain a controlling financial interest, and those entities in which we have a variable interest and are the primary beneficiary. Intercompany balances and transactions have been eliminated.

Operating results for the three and six months ended December 31, 2017 are not necessarily indicative of the results that may be expected for the year ending June 30, 2018 or for any other period. The consolidated balance sheet at June 30, 2017 has been derived from our audited consolidated financial statements at that date but does not include all of the information and notes required by GAAP for complete financial statements. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended June 30, 2017 included in our Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the “SEC”).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We believe our most significant estimates are associated with the ongoing evaluation of the recoverability of our long-lived assets and goodwill, estimated useful lives of assets, share-based compensation, accounting for business combinations, and income taxes and related valuation allowances, among others. By their nature, estimates are subject to an inherent degree of uncertainty. Actual results could differ from those estimates.

Share-based compensation

Total share-based compensation costs were $13,314 and $20,226 for the three and six months ended December 31, 2017, respectively, and $11,277 and $22,848 for the three and six months ended December 31, 2016, respectively.

During the first quarter of fiscal 2018, we issued supplemental performance share unit awards to certain members of management. In addition to a service vesting and market condition (based on the three year moving average of the Cimpress share price) contained in our standard performance share units, these supplemental awards also contain a multi-year financial performance condition. The evaluation of achievement of the performance condition is at the discretion of the Compensation Committee and, therefore, is subject to mark-to-market accounting throughout the three year performance vesting period. The compensation expense for these awards is estimated at fair value using a Monte Carlo simulation valuation model and compensation costs are recorded only if it is probable that the performance condition will be achieved. We have concluded that the performance condition is currently probable of achievement and for the three and six months ended December 31, 2017, we recognized $4,310 of share-based compensation expense. We will continue to reassess the probability each reporting period and if we determine the awards are not probable at some point during the performance vesting period we would reverse any expense recognized to date.

Sale of Albumprinter

On August 31, 2017 we sold our Albumprinter business, including FotoKnudsen AS, for a total of €78,382 ($93,071 based on the exchange rate as of the date of sale) in cash, net of transaction costs and cash divested (after $11,874 in pre-closing dividends). As a result of the sale, we recognized a gain of $47,545, net of transaction costs, within our consolidated statement of operations for the six months ended December 31, 2017.

The transaction did not qualify for discontinued operations presentation, and as of June 30, 2017, the Albumprinter business assets and liabilities were presented as held-for-sale in our consolidated balance sheet. In connection with the divestiture, we entered into an agreement with Albumprinter under which Albumprinter will continue to fulfill photo book orders for our Vistaprint business. Additionally, we agreed to provide Albumprinter with certain transitional support services for a period of up to one year from the date of the sale.

Foreign Currency Translation

Our non-U.S. dollar functional currency subsidiaries translate their assets and liabilities denominated in their functional currency to U.S. dollars at current rates of exchange in effect at the balance sheet date, and revenues and expenses are translated at average rates prevailing throughout the period. The resulting gains and losses from translation are included as a component of accumulated other comprehensive loss. Transaction gains and losses and remeasurement of assets and liabilities denominated in currencies other than an entity’s functional currency are included in other (expense) income, net in our consolidated statements of operations.

Other (expense) income, net

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



	Three Months Ended December 31,					Six Months Ended December 31,
	2017			2016		2017			2016
(Losses) gains on derivatives not designated as hedging instruments (1)	$	(1,752	)	$	13,477	$	(10,001	)	$	13,554
Currency-related (losses) gains, net (2)	(6,449		)	14,988		(14,652		)	12,022
Other gains (3)	469			2,084		609			2,841
Total other (expense) income, net	$	(7,732	)	$	30,549	$	(24,044	)	$	28,417

_____________________

(1) Primarily relates to both realized and unrealized (losses) gains on derivative currency forward and option contracts not designated as hedging instruments.

(2) We have significant non-functional currency intercompany financing relationships, which we may alter at times, and are subject to currency exchange rate volatility. The currency-related (losses) gains, net for the three and six months ended December 31, 2017 and 2016 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 losses related to cross-currency swaps were $2,016 and $6,126 for the three and six months ended December 31, 2017, respectively, and unrealized gains of $7,827 and $6,393 for the three and six months ended December 31, 2016, respectively.

(3) We recognized a gain of $377 related to insurance recoveries during the three and six months ended December 31, 2017. During the prior comparative periods we recognized a gain of $2,268 related to the sale of Plaza Create Co. Ltd. available for sale securities.

Net Income Per Share Attributable to Cimpress N.V.

Basic net income per share attributable to Cimpress N.V. is computed by dividing net income attributable to Cimpress N.V. by the weighted-average number of ordinary shares outstanding for the respective period. Diluted net income per share attributable to Cimpress N.V. gives effect to all potentially dilutive securities, including share options, restricted share units (“RSUs”), restricted share awards ("RSAs") and performance share units ("PSUs"), if the effect of the securities is dilutive using the treasury stock method. Awards with performance or market conditions are included using the treasury stock method only if the conditions would have been met as of the end of the reporting period and their effect is dilutive.

The following table sets forth the reconciliation of the weighted-average number of ordinary shares:



	Three Months Ended December 31,		Six Months Ended December 31,
	2017	2016	2017	2016
Weighted average shares outstanding, basic	31,026,043	31,291,356	31,123,177	31,431,090
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/RSAs	1,292,979	1,322,657	1,202,415	1,415,185
Shares used in computing diluted net income per share attributable to Cimpress N.V.	32,319,022	32,614,013	32,325,592	32,846,275
Weighted average anti-dilutive shares excluded from diluted net income per share attributable to Cimpress N.V.	—	28,031	4,582	22,586

Waltham Lease Arrangement

In July 2013, we executed a lease agreement to move our Lexington, Massachusetts, USA operations to a then yet to be constructed facility in Waltham, Massachusetts, USA. During the first quarter of fiscal 2016, the building was completed and we commenced lease payments in September 2015 and will make lease payments through September 2026.

For accounting purposes, we were deemed to be the owner of the Waltham building during the construction period, and accordingly we recorded the construction project costs incurred by the landlord as an asset with a corresponding financing obligation on our balance sheet. We evaluated the Waltham lease in the first quarter of fiscal 2016 and determined that the transaction did not meet the criteria for "sale-leaseback" treatment due to our planned subleasing activity over the term of the lease. Accordingly, we began depreciating the asset and incurring interest expense related to the financing obligation recorded on our consolidated balance sheet. We bifurcate the lease payments pursuant to the Waltham lease into (i) a portion that is allocated to the building and (ii) a portion that is allocated to the land on which the building was constructed. The portion of the lease obligations allocated to the land is treated as an operating lease that commenced in fiscal 2014.

Property, plant and equipment, net, included $113,985 and $116,045 as of December 31, 2017 and June 30, 2017, respectively, related to the building. The financing lease obligation and deferred rent credit related to the building on our consolidated balance sheets was $117,307 and $119,176 as of December 31, 2017 and June 30, 2017, respectively.

Treasury Shares

Treasury shares are accounted for using the cost method and are included as a component of shareholders' equity. During the six months ended December 31, 2017 and 2016, we repurchased 574,264 and 593,763, respectively, of our ordinary shares for a total cost of $55,139 and $50,008, respectively, inclusive of transaction costs, in connection with our publicly announced share repurchase programs.

Recently Issued or Adopted Accounting Pronouncements

New Accounting Standards Adopted

In October 2016, the FASB issued Accounting Standards Update No. 2016-16, "Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory" (ASU 2016-16), which requires the recognition for income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. We elected to early adopt the new standard during the first quarter of fiscal 2018, and recognized a reduction to prepaid and other current assets of $24,573, an increase in deferred tax assets of $18,710 and a cumulative-effect adjustment to retained earnings of $5,863. If we had not early adopted, the forecasted fiscal 2018 tax expense would be lower by $9,787.

Issued Accounting Standards to be Adopted

In August 2017, the FASB issued Accounting Standards Update No. 2017-12, "Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities (Topic 815)," (ASU 2017-12), which better aligns a company’s financial reporting for hedging activities with the economic objectives of those activities. The amendment is effective for us on July 1, 2019 and permits early adoption, including adoption in an interim period. The standard requires a modified retrospective transition approach, in which the Company will recognize the cumulative effect of the change on the opening balance of each affected component of equity in the statement of financial position as of the date of adoption. We do not expect this standard to have material impact on our consolidated financial statements.

In May 2017, the FASB issued Accounting Standards Update No. 2017-09, "Compensation - Stock Compensation (Topic 718)," (ASU 2017-09), which clarifies the application of Topic 718 when accounting for changes in the terms and conditions of a share-based payment award. The new standard requires changes to the terms or conditions of a share-based payment award to be accounted for under modification accounting unless there is no change to the fair value, vesting conditions and classification of the award after modification. The amendment is effective for us on July 1, 2018 and permits early adoption. The amendment is to be applied prospectively, and we are currently evaluating the impact on our financial statements.

In November 2016, the FASB issued Accounting Standards Update No. 2016-18, "Statement of Cash Flows (Topic 230) Restricted Cash" (ASU 2016-18), which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendment is effective for us on July 1, 2018 and permits early adoption. This amendment will affect the presentation of our statement of cash flows once adopted, and we do not expect it to have material impact on our consolidated financial statements.

In March 2016, the FASB issued Accounting Standards Update No. 2016-04,"Liabilities - Extinguishment of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products" (ASU 2016-04), which requires an entity to recognize breakage for a liability resulting from the sale of a prepaid stored-value product in proportion to the pattern of rights expected to be exercised by the product holder only to the extent that it is probable that a significant reversal of the recognized breakage amount will not subsequently occur. The new standard is effective for us on July 1, 2018. The standard permits early adoption and should be applied either retrospectively to each period presented or by means of a cumulative adjustment to retained earnings as of the beginning of the fiscal year adopted. We do not expect the effect of ASU 2016-04 to have a material impact on our consolidated financial statements.

In March 2016, the FASB issued Accounting Standards Update No. 2016-02,"Leases (Topic 842)" (ASU 2016-02), which requires the recognition of lease assets and lease liabilities by lessees for those leases currently classified as operating leases. The standard also retains a distinction between finance leases and operating leases. The new standard is effective for us on July 1, 2019. The standard permits early adoption. We are currently evaluating our adoption timing and the effect that ASU 2016-02 will have on our consolidated financial statements.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09,"Revenue from Contracts with Customers" (ASU 2014-09), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This guidance will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for fiscal years beginning after December 15, 2017, which would result in an effective date for us of July 1, 2018. The standard permits the use of either the retrospective or modified retrospective method. We will adopt the new standard in the first quarter of fiscal 2019, and we will apply the modified retrospective approach. We are actively evaluating the impact of the new standard on a business unit by business unit basis through a review of contract terms and material revenue streams. Our ongoing assessment includes both the quantification of any material impacts, as well as the related disclosures.

Fair Value Measurements

6 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

We use a three-level valuation hierarchy for measuring fair value and include detailed financial statement disclosures about fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:


•	Level 1: Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.


•	Level 2: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.


•	Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following tables summarize our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy:



	December 31, 2017
	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets
Interest rate swap contracts	$	3,159		$	—	$	3,159		$	—
Currency forward contracts	529			—		529			—
Total assets recorded at fair value	$	3,688		$	—	$	3,688		$	—

Liabilities
Interest rate swap contracts	$	(146	)	$	—	$	(146	)	$	—
Cross-currency swap contracts	(33,872		)	—		(33,872		)	—
Currency forward contracts	(28,223		)	—		(28,223		)	—
Currency option contracts	(557		)	—		(557		)	—
Contingent consideration	(5,942		)	—		—			(5,942		)
Total liabilities recorded at fair value	$	(68,740	)	$	—	$	(62,798	)	$	(5,942	)



	June 30, 2017
	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets
Interest rate swap contracts	$	1,717		$	—	$	1,717		$	—
Total assets recorded at fair value	$	1,717		$	—	$	1,717		$	—

Liabilities
Interest rate swap contracts	$	(483	)	$	—	$	(483	)	$	—
Cross-currency swap contracts	(19,760		)	—		(19,760		)	—
Currency forward contracts	(14,700		)	—		(14,700		)	—
Currency option contracts	(651		)	—		(651		)	—
Contingent consideration	(5,453		)	—		—			(5,453		)
Total liabilities recorded at fair value	$	(41,047	)	$	—	$	(35,594	)	$	(5,453	)

During the quarter ended December 31, 2017 and year ended June 30, 2017, there were no significant transfers in or out of Level 1, Level 2 and Level 3 classifications.

The valuations of the derivatives intended to mitigate our interest rate and currency risk are determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each instrument. This analysis utilizes observable market-based inputs, including interest rate curves, interest rate volatility, or spot and forward exchange rates, and reflects the contractual terms of these instruments, including the period to maturity. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparties' nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements.

Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to appropriately reflect both our own nonperformance risk and the respective counterparties' nonperformance risk in the fair value measurement. However, as of December 31, 2017, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations in their entirety are classified in Level 2 in the fair value hierarchy.

Contingent consideration obligations are measured at fair value and are based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The valuation of contingent consideration uses assumptions and estimates to forecast a range of outcomes and probabilities for the contingent consideration. Certain contingent consideration obligations are valued using a Monte Carlo simulation model. We assess these assumptions and estimates on a quarterly basis as additional data impacting the assumptions is obtained. Any changes in the fair value of contingent consideration related to updated assumptions and estimates will be recognized within general and administrative expenses in the consolidated statements of operations during the period in which the change occurs.

As part of the acquisition of WIRmachenDRUCK on February 1, 2016, we agreed to a variable contingent payment up to €40,000, previously based on the achievement of a cumulative gross profit target for calendar years 2016 and 2017. During the fourth quarter of fiscal 2017, we determined it was reasonably certain, based on recent performance, that the maximum earn-out would be achieved. Subsequently, during the first quarter of fiscal 2018, we amended the terms of this arrangement to remove the performance target and agreed to pay the maximum amount in January 2018. As of December 31, 2017, the fair value of the liability is $47,994 and on January 2, 2018 we paid the maximum amount. Of the total liability, $5,942 is considered contingent consideration and included in the table below and the remaining portion of the liability is classified as a compensation arrangement as discussed in Note 7.

The following table represents the changes in fair value of Level 3 contingent consideration:



	Six Months Ended December 31,
	2017 (1)		2016 (2)
Balance at June 30	$	5,453	$	1,212
Fair value adjustment	220		1,946
Foreign currency impact	269		(134		)
Balance at December 31	$	5,942	$	3,024

_____________________

(1) Classified as a current liability on the consolidated balance sheet.

(2) Classified as a long-term liability on the consolidated balance sheet.

As of December 31, 2017 and June 30, 2017, the carrying amounts of our cash and cash equivalents, accounts receivable, accounts payable, and other current liabilities approximated their estimated fair values. As of December 31, 2017 and June 30, 2017 the carrying value of our debt, excluding debt issuance costs and debt discounts, was $708,560 and $882,578, respectively, and the fair value was $716,837 and $906,744, respectively. Our debt at December 31, 2017 includes variable rate debt instruments indexed to LIBOR that resets periodically and fixed rate debt instruments. The estimated fair value of our debt was determined using available market information based on recent trades or activity of debt instruments with substantially similar risks, terms and maturities, which fall within Level 2 under the fair value hierarchy. The estimated fair value of assets and liabilities disclosed above may not be representative of actual values that could have been or will be realized in the future.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

6 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

Derivative Financial Instruments

We use derivative financial instruments, such as interest rate swap contracts, cross-currency swap contracts, and currency forward and option contracts, to manage interest rate and foreign currency exposures. Derivatives are recorded in the consolidated balance sheets at fair value. If the derivative is designated as a cash flow hedge or net investment hedge, then the effective portion of changes in the fair value of the derivative is recorded in accumulated other comprehensive loss and is subsequently reclassified into earnings in the period the hedged forecasted transaction affects earnings. If a derivative is deemed to be ineffective, then the ineffective portion of the change in fair value of the derivative is recognized directly in earnings. The change in the fair value of derivatives not designated as hedges is recognized directly in earnings, as a component of other (expense) income, net.

Hedges of Interest Rate Risk

We enter into interest rate swap contracts to manage variability in the amount of our known or expected cash payments related to a portion of our debt. Our objective in using interest rate swaps is to add stability to interest expense and to manage our exposure to interest rate movements. We designate our interest rate swaps as cash flow hedges. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for us making fixed-rate payments over the life of the contract agreements without exchange of the underlying notional amount. Realized gains or losses from interest rate swaps are recorded in earnings, as a component of interest expense, net. A portion of seven of our interest rate swap contracts were deemed to be ineffective during the three and six months ended December 31, 2017 and during the three and six months ended December 31, 2016 a portion of one of our interest rate swap contracts was deemed to be ineffective.

Amounts reported in accumulated other comprehensive loss related to interest rate swap contracts will be reclassified to interest expense as interest payments are accrued or made on our variable-rate debt. As of December 31, 2017, we estimate that $385 will be reclassified from accumulated other comprehensive loss to interest expense during the twelve months ending December 31, 2018. As of December 31, 2017, we had nine outstanding interest rate swap contracts indexed to one-month LIBOR. These instruments were designated as cash flow hedges of interest rate risk and have varying start dates and maturity dates through December 2025.



Interest rate swap contracts outstanding:	Notional Amounts
Contracts accruing interest as of December 31, 2017	$	65,000
Contracts with a future start date	350,000
Total	$	415,000

Hedges of Currency Risk

Cross-Currency Swap Contracts

From time to time, we execute cross-currency swap contracts designated as cash flow hedges or net investment hedges. Cross-currency swaps involve an initial receipt of the notional amount in the hedge currency in exchange for our reporting currency based on a contracted exchange rate. Subsequently, we receive fixed rate payments in our reporting currency in exchange for fixed rate payments in the hedged currency over the life of the contract. At maturity, the final exchange involves the receipt of our reporting currency in exchange for the notional amount in the hedged currency.

Cross-currency swap contracts designated as cash flow hedges are executed to mitigate our currency exposure to the interest receipts as well as the principal remeasurement and repayment associated with certain intercompany loans denominated in a currency other than our reporting currency, the U.S. Dollar. As of December 31, 2017, we had two outstanding cross-currency swap contracts designated as cash flow hedges with a total notional amount of $120,011, both maturing during June 2019. We entered into the two cross-currency swap contracts to hedge the risk of changes in one Euro denominated intercompany loan entered into with one of our consolidated subsidiaries that has the Euro as its functional currency.

Amounts reported in accumulated other comprehensive loss will be reclassified to other (expense) income, net as interest payments are accrued or paid and upon remeasuring the intercompany loan. As of December 31, 2017, we estimate that $1,154 of income will be reclassified from accumulated other comprehensive loss to interest expense, net during the twelve months ending December 31, 2018.

Cross-currency swap contracts designated as net investment hedges are executed to mitigate our currency exposure of net investments in subsidiaries that have reporting currencies other than the U.S. Dollar. As of December 31, 2017, we had two outstanding cross-currency swap contracts designated as net investment hedges with a total notional amount of $122,969, both maturing during April 2019. We entered into the two cross-currency swap contracts to hedge the risk of changes in the U.S. Dollar equivalent value of a portion of our net investment in a consolidated subsidiary that has the Euro as its functional currency. Amounts reported in accumulated other comprehensive loss are recognized as a component of our cumulative translation adjustment.

We did not hold any ineffective cross-currency swaps during the three and six months ended December 31, 2017 and 2016.

Other Currency Contracts

We execute currency forward and option contracts in order to mitigate our exposure to fluctuations in various currencies against our reporting currency, the U.S. Dollar.

As of December 31, 2017, we had six currency forward contracts designated as net investment hedges with a total notional amount of $175,262, maturing during various dates through October 2022. We entered into these contracts to hedge the risk of changes in the U.S. Dollar equivalent value of a portion of our net investment in a consolidated subsidiary that has the Euro as its functional currency. Amounts reported in accumulated other comprehensive loss are recognized as a component of our cumulative translation adjustment.

We have elected not to apply hedge accounting for all other currency forward and option contracts. During the three and six months ended December 31, 2017 and 2016, we have experienced volatility within other (expense) income, net in our consolidated statements of operations from unrealized gains and losses on the mark-to-market of outstanding currency forward and option contracts. We expect this volatility to continue in future periods for contracts for which we do not apply hedge accounting. Additionally, since our hedging objectives may be targeted at non-GAAP financial metrics that exclude non-cash items such as depreciation and amortization, we may experience increased, not decreased, volatility in our GAAP results as a result of our currency hedging program.

As of December 31, 2017, we had the following outstanding currency derivative contracts that were not designated for hedge accounting and were used to hedge fluctuations in the U.S. Dollar value of forecasted transactions denominated in Australian Dollar, British Pound, Canadian Dollar, Danish Krone, Euro, Indian Rupee, Mexican Peso, New Zealand Dollar, Norwegian Krone, and Swedish Krona:



Notional Amount	Effective Date	Maturity Date	Number of Instruments	Index
$529,938	June 2016 through December 2017	Various dates through December 2019	489	Various

Financial Instrument Presentation

The table below presents the fair value of our derivative financial instruments as well as their classification on the balance sheet as of December 31, 2017 and June 30, 2017:



	December 31, 2017
	Asset Derivatives								Liability Derivatives
Derivatives designated as hedging instruments	Balance Sheet line item	Gross amounts of recognized assets		Gross amount offset in consolidated balance sheet			Net amount		Balance Sheet line item	Gross amounts of recognized liabilities			Gross amount offset in consolidated balance sheet		Net amount
Derivatives in Cash Flow Hedging Relationships
Interest rate swaps	Other non-current assets	$	3,518	$	(359	)	$	3,159	Other current liabilities / other liabilities	$	(146	)	$	—	$	(146	)
Cross-currency swaps	Other non-current assets	—		—			—		Other liabilities	(14,757		)	—		(14,757		)
Derivatives in Net Investment Hedging Relationships
Cross-currency swaps	Other non-current assets	—		—			—		Other liabilities	(19,115		)	—		(19,115		)
Currency forward contracts	Other non-current assets	—		—			—		Other liabilities	(18,255		)	—		(18,255		)
Total derivatives designated as hedging instruments		$	3,518	$	(359	)	$	3,159		$	(52,273	)	$	—	$	(52,273	)

Derivatives not designated as hedging instruments
Currency forward contracts	Other current assets / other assets	$	734	$	(205	)	$	529	Other current liabilities / other liabilities	$	(11,043	)	$	1,075	$	(9,968	)
Currency option contracts	Other current assets / other assets	—		—			—		Other current liabilities / other liabilities	(557		)	—		(557		)
Total derivatives not designated as hedging instruments		$	734	$	(205	)	$	529		$	(11,600	)	$	1,075	$	(10,525	)



	June 30, 2017
	Asset Derivatives								Liability Derivatives
Derivatives designated as hedging instruments	Balance Sheet line item	Gross amounts of recognized assets		Gross amount offset in consolidated balance sheet			Net amount		Balance Sheet line item	Gross amounts of recognized liabilities			Gross amount offset in consolidated balance sheet		Net amount
Derivatives in Cash Flow Hedging Relationships
Interest rate swaps	Other non-current assets	$	2,072	$	(355	)	$	1,717	Other current liabilities / other liabilities	$	(483	)	$	—	$	(483	)
Cross-currency swaps	Other non-current assets	—		—			—		Other liabilities	(7,640		)	—		(7,640		)
Derivatives in Net Investment Hedging Relationships
Cross-currency swaps	Other non-current assets	—		—			—		Other liabilities	(12,120		)	—		(12,120		)
Currency forward contracts	Other non-current assets	—		—			—		Other liabilities	(9,896		)	—		(9,896		)
Total derivatives designated as hedging instruments		$	2,072	$	(355	)	$	1,717		$	(30,139	)	$	—	$	(30,139	)

Derivatives not designated as hedging instruments
Currency forward contracts	Other current assets / other assets	$	—	$	—		$	—	Other current liabilities / other liabilities	$	(8,033	)	$	3,229	$	(4,804	)
Currency Option Contracts	Other current assets / other assets	—		—			—		Other current liabilities / other liabilities	(651		)	—		(651		)
Total derivatives not designated as hedging instruments		$	—	$	—		$	—		$	(8,684	)	$	3,229	$	(5,455	)

The following table presents the effect of the effective portion of our derivative financial instruments designated as hedging instruments and their classification within comprehensive income (loss) for the three and six months ended December 31, 2017 and 2016:



Derivatives in Hedging Relationships	Amount of Gain (Loss) Recognized in Comprehensive Income (Loss) on Derivatives
	Three Months Ended December 31,					Six Months Ended December 31,
In thousands	2017			2016		2017			2016
Derivatives in Cash Flow Hedging Relationships
Interest rate swaps	$	1,593		$	2,513	$	1,656		$	2,764
Cross-currency swaps	1,566			6,731		5,074			4,711
Derivatives in Net Investment Hedging Relationships
Cross-currency swaps	(2,222		)	6,883		(7,345		)	4,824
Currency forward contracts	(3,148		)	1,395		(9,542		)	939
	$	(2,211	)	$	17,522	$	(10,157	)	$	13,238

The following table presents reclassifications out of accumulated other comprehensive loss for the three and six months ended December 31, 2017 and 2016:



Details about Accumulated Other Comprehensive Loss Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income												Affected line item in the Statement of Operations
	Three Months Ended December 31,						Six Months Ended December 31,
In thousands	2017			2016			2017			2016
Derivatives in Cash Flow Hedging Relationships
Interest rate swaps	$	(164	)	$	117		$	(106	)	$	(38	)	Interest expense, net
Cross-currency swaps	(1,688		)	8,450			(5,435		)	7,497			Other (expense) income, net
Total before income tax	(1,852		)	8,567			(5,541		)	7,459			Income before income taxes
Income tax	482			(2,141		)	1,407			(1,865		)	Income tax expense
Total	$	(1,370	)	$	6,426		$	(4,134	)	$	5,594

The following table presents the adjustment to fair value recorded within the consolidated statements of operations for derivative instruments for which we did not elect hedge accounting, as well as the effect of the ineffective portion and de-designated derivative financial instruments that no longer qualify as hedging instruments in the period:



	Amount of Gain (Loss) Recognized in Net Income										Location of Gain (Loss) Recognized in Income (Ineffective Portion)
	Three Months Ended December 31,					Six Months Ended December 31,
In thousands	2017			2016		2017			2016
Derivatives not designated as hedging instruments
Currency contracts	$	(1,999	)	$	13,224	$	(10,279	)	$	13,301	Other (expense) income, net
Interest rate swaps	247			253		278			253		Other (expense) income, net
	$	(1,752	)	$	13,477	$	(10,001	)	$	13,554

Accumulated Other Comprehensive Income

6 Months Ended

Dec. 31, 2017

Equity [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Loss

The following table presents a roll forward of amounts recognized in accumulated other comprehensive loss by component, net of tax of $(1,482) for the six months ended December 31, 2017:



	Gains (losses) on cash flow hedges (1)			Gains (losses) on pension benefit obligation			Translation adjustments, net of hedges (2)			Total
Balance as of June 30, 2017	$	(2,250	)	$	(357	)	$	(110,791	)	$	(113,398	)
Other comprehensive income (loss) before reclassifications	6,730			—			27,709			34,439
Amounts reclassified from accumulated other comprehensive loss to net income	(4,134		)	—			—			(4,134		)
Net current period other comprehensive income (loss)	2,596			—			27,709			30,305
Balance as of December 31, 2017	$	346		$	(357	)	$	(83,082	)	$	(83,093	)

________________________

(1) Gains (losses) on cash flow hedges include our interest rates swap and cross-currency swap contracts designated in cash flow hedging relationships.

(2) As of December 31, 2017 and June 30, 2017, the translation adjustment is inclusive of the effects of our net investment hedges, of which, unrealized losses of $33,935 and $17,048, respectively, net of tax, have been included in accumulated other comprehensive loss.

Goodwill and Acquired Intangible Assets

6 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

Goodwill

The carrying amount of goodwill by reportable segment as of December 31, 2017 and June 30, 2017 is as follows:



	Vistaprint			Upload and Print		National Pen			All Other Businesses		Total
Balance as of June 30, 2017	$	147,207		$	321,805	$	34,520		$	11,431	$	514,963
Adjustments	(58		)	—		(86		)	—		(144		)
Effect of currency translation adjustments (1)	703			15,677		—			—		16,380
Balance as of December 31, 2017	$	147,852		$	337,482	$	34,434		$	11,431	$	531,199

_________________

(1) Relates to goodwill held by subsidiaries whose functional currency is not the U.S. Dollar.

Acquired Intangible Assets

Acquired intangible assets amortization expense for the three and six months ended December 31, 2017 was $12,558 and $25,191, respectively, compared to $9,879 and $20,092 for the prior comparative periods, respectively. The increase in acquired intangible asset amortization is primarily related to our December 30, 2016 acquisition of National Pen.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Other Balance Sheet Components

6 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Accrued Expenses

Other Balance Sheet Components

Accrued expenses included the following:



	December 31, 2017		June 30, 2017
Income and indirect taxes (1)	$	56,255	$	34,469
Compensation costs	51,272		54,487
Advertising costs	35,774		26,641
Shipping costs (1)	12,416		6,651
Production costs (1)	11,335		7,472
Sales returns	6,085		4,474
Interest payable	5,546		5,263
Professional costs	3,120		3,021
Purchases of property, plant and equipment	1,724		3,786
Other	36,180		29,303
Total accrued expenses	$	219,707	$	175,567

_______________________

(1) The increase in income and indirect taxes, as well as production and shipping costs, is due to increased sales volumes during our peak holiday season in the second quarter of our fiscal year.

Other current liabilities included the following:



	December 31, 2017		June 30, 2017
Contingent earn-out liability	$	47,994	$	44,049
Current portion of lease financing obligation	12,569		12,569
Short-term derivative liabilities	13,786		7,243
Current portion of capital lease obligations	10,998		11,573
Mandatorily redeemable noncontrolling interest (1)	1,010		901
Other	2,912		2,100
Total other current liabilities	$	89,269	$	78,435

Other liabilities included the following:



	December 31, 2017		June 30, 2017
Long-term derivative liabilities	$	50,651	$	31,936
Long-term capital lease obligations	23,004		28,306
Mandatorily redeemable noncontrolling interest (1)	2,757		2,456
Other (2)	31,472		31,985
Total other liabilities	$	107,884	$	94,683

_______________________

(1) Relates to the mandatorily redeemable noncontrolling interest of Printi LLC. Refer to Note 11 for additional details.

(2) As of December 31, 2017 and June 30, 2017, other liabilities includes $9,773 and $8,173, respectively, related to share-based compensation awards associated with our investment in Printi LLC. Refer to Note 11 for additional details.

Contingent earn-out liability

Under the original terms of the WIRmachenDRUCK earn-out arrangement, a portion of the earn-out attributed to the minority selling shareholders was included as a component of purchase consideration as of the acquisition date, with any subsequent changes to fair value recognized within general and administrative expense. This earn-out was previously calculated on a sliding scale, based on the achievement of cumulative gross profit against a predetermined target. During the fourth quarter of fiscal 2017, we determined it was reasonably certain, based on recent performance, that the maximum earn-out would be achieved. During the first quarter of fiscal 2018, we amended the terms of this arrangement, to remove the performance condition and we paid the maximum amount of €40,000 on January 2, 2018.

The liability represents the present value of the agreed payment amount. We recognized $947 and $1,774 of expense during the three and six months ended December 31, 2017, respectively, and $6,746 and $22,766 of expense during the prior comparative periods, respectively, as part of general and administrative expense. As of December 31, 2017, the total liability is $47,994, of which $42,052 relates to the majority shareholders and $5,942 relates to the minority shareholders.

Debt

6 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Long-Term Debt

Debt



	December 31, 2017			June 30, 2017
Senior secured credit facility	$	425,507		$	600,037
7.0% Senior unsecured notes due 2022	275,000			275,000
Other	8,053			7,541
Debt issuance costs and debt discounts (1)	(8,030		)	(5,922		)
Total debt outstanding, net	700,530			876,656
Less short-term debt (2)	35,569			28,926
Long-term debt	$	664,961		$	847,730

_____________________

(1) During the six months ended December 31, 2017, we capitalized $3,251 in debt issuance costs, which related to the amendment and restatement to our senior secured credit facility. Refer below for additional details relating to the amendment.

(2) Balances as of December 31, 2017 and June 30, 2017 are inclusive of short-term debt issuance costs and debt discounts of $1,846 and$1,693, respectively.

Our Debt

Our various debt arrangements described below contain customary representations, warranties and events of default. As of December 31, 2017, we were in compliance with all financial and other covenants related to our debt.

Senior Secured Credit Facility

On July 13, 2017, we entered into an amendment and restatement agreement for our senior secured credit facility resulting in an increase of loan commitments under the credit agreement to $1,045,000 in the aggregate. The amendment also extended the tenor of our borrowings to a maturity date of July 13, 2022. As of December 31, 2017, we have a committed credit facility of $1,037,500 as follows:


•	Revolving loans of $745,000 with a maturity date of July 13, 2022


•	Term loan of $292,500 amortizing over the loan period, with a final maturity date of July 13, 2022.

Under the terms of our credit agreement, borrowings bear interest at a variable rate of interest based on LIBOR plus 1.50% to 2.25% depending on our leverage ratio, which is the ratio of our consolidated total indebtedness to our consolidated EBITDA, as defined by the credit agreement. As of December 31, 2017, the weighted-average interest rate on outstanding borrowings was 3.77%, inclusive of interest rate swap rates. We are also required to pay a commitment fee on unused balances of 0.225% to 0.400% depending on our leverage ratio. We have pledged the assets and/or share capital of several of our subsidiaries as collateral for our outstanding debt as of December 31, 2017.

Indenture and Senior Unsecured Notes due 2022

On March 24, 2015, we completed a private placement of $275,000 in aggregate principal amount of 7.0% senior unsecured notes due 2022 (the “Notes”). We issued the Notes pursuant to a senior notes indenture dated as of March 24, 2015 among Cimpress N.V., our subsidiary guarantors, and MUFG Union Bank, N.A., as trustee (the "Indenture"). We used the proceeds from the Notes to pay outstanding indebtedness under our unsecured line of credit and our senior secured credit facility and for general corporate purposes.

The Notes bear interest at a rate of 7.0% per annum and mature on April 1, 2022. Interest on the Notes is payable semi-annually on April 1 and October 1 of each year, commencing on October 1, 2015, to the holders of record of the Notes at the close of business on March 15 and September 15, respectively, preceding such interest payment date.

The Notes are senior unsecured obligations and rank equally in right of payment to all our existing and future senior unsecured debt and senior in right of payment to all of our existing and future subordinated debt. The Notes are effectively subordinated to any of our existing and future secured debt to the extent of the value of the assets securing such debt. Subject to certain exceptions, each of our existing and future subsidiaries that is a borrower under or guarantees our senior secured credit facilities will guarantee the Notes.

The Indenture contains various covenants, including covenants that, subject to certain exceptions, limit our and our restricted subsidiaries’ ability to incur and/or guarantee additional debt; pay dividends, repurchase shares or make certain other restricted payments; enter into agreements limiting dividends and certain other restricted payments; prepay, redeem or repurchase subordinated debt; grant liens on assets; enter into sale and leaseback transactions; merge, consolidate or transfer or dispose of substantially all of our consolidated assets; sell, transfer or otherwise dispose of property and assets; and engage in transactions with affiliates.

At any time prior to April 1, 2018, we may redeem some or all of the Notes at a redemption price equal to 100% of the principal amount redeemed, plus a make-whole amount as set forth in the Indenture, plus, in each case, accrued and unpaid interest to, but not including, the redemption date. In addition, at any time prior to April 1, 2018, we may redeem up to 35% of the aggregate outstanding principal amount of the Notes at a redemption price equal to 107% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date, with the net proceeds of certain equity offerings by Cimpress. At any time on or after April 1, 2018, we may redeem some or all of the Notes at the redemption prices specified in the Indenture, plus accrued and unpaid interest to, but not including, the redemption date.

Other debt

Other debt consists primarily of term loans acquired through our various acquisitions. As of December 31, 2017 and June 30, 2017 we had $8,053 and $7,541, respectively, outstanding for those obligations that are payable through September 2024.

Income Taxes	6 Months Ended
Income Taxes	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our income tax expense was $21,825 and $15,638 for the three and six months ended December 31, 2017, respectively, as compared to $19,601 and $9,787 for the prior comparative periods. Income tax expense for the three and six months ended December 31, 2017 was higher than the same prior year periods primarily due to an increase in tax expense of $4,701 related to the impacts of U.S. tax reform recognized in the three months ended December 31, 2017. Additionally, during the three and six months ended December 31, 2017, we recognized tax benefits of $1,025 and $1,473, respectively, from share based compensation as compared to $425 and $4,614 for the comparable prior periods. Excluding the effect of these discrete tax items, we are forecasting a more favorable consolidated annual effective tax rate for fiscal 2018 as compared to fiscal 2017 primarily due to higher forecasted full year pre-tax income as well as a more favorable geographical mix of consolidated earnings. In addition, our effective tax rate is negatively impacted by losses in certain jurisdictions where we are unable to recognize a full tax benefit in the current period. On December 22, 2017, the Tax Cuts and Jobs Act ("The Act") was signed into law, resulting in significant changes to U.S. tax law for corporations. One of the most significant changes is a reduction in the U.S. federal corporate tax rate from 35% to 21%, effective January 1, 2018. Since the effective date of the tax rate change is in the middle of our fiscal year, we are required to use a blended U.S. federal tax rate of 28% for fiscal 2018. As a result of The Act, we recognized an increase to our GAAP tax expense of $4,701 related to the re-measurement of deferred tax assets and liabilities during the three months ended December 31, 2017. However, based upon our current interpretations of The Act, we expect the tax reform changes to be net favorable to our fiscal 2018 cash taxes. Our tax balances have been adjusted based upon our interpretation of The Act, although the final impact on our tax balances may change due to the issuance of additional guidance, changes in our interpretation of The Act, changes in assumptions made by Cimpress, and actions Cimpress may take as a result of The Act. We will continue to review and assess the potential impact of any new information on our financial statement positions. On October 1, 2013, we made changes to our corporate entity operating structure, including transferring our intellectual property among certain of our subsidiaries, primarily to align our corporate entities with our evolving operations and business model. Our subsidiary based in Switzerland was the recipient of the intellectual property. In accordance with Swiss tax law, we are entitled to amortize the fair market value of the intellectual property received at the date of transfer over five years for tax purposes. As a result of this amortization, we are expecting a loss for Swiss tax purposes during fiscal 2018. As of December 31, 2017, we had a liability for unrecognized tax benefits included in the balance sheet of $5,317, including accrued interest and penalties of $391. We recognize interest and, if applicable, penalties related to unrecognized tax benefits in the provision for income taxes. If recognized, the entire liability for unrecognized tax benefits would reduce our income tax expense. It is reasonably possible that a reduction in unrecognized tax benefits may occur within the next twelve months in the range of $500 to $600 related to the lapse of applicable statutes of limitations. We believe we have appropriately provided for all tax uncertainties. We conduct business in a number of tax jurisdictions and, as such, are required to file income tax returns in multiple jurisdictions globally. The years 2014 through 2017 remain open for examination by the United States Internal Revenue Service (“IRS”) and the years 2011 through 2017 remain open for examination in the various states and non-US tax jurisdictions in which we file tax returns. We believe that our income tax reserves are adequately maintained taking into consideration both the technical merits of our tax return positions and ongoing developments in our income tax audits. However, the final determination of our tax return positions, if audited, is uncertain, and there is a possibility that final resolution of these matters could have a material impact on our results of operations or cash flows.

Noncontrolling interest

6 Months Ended

Dec. 31, 2017

Noncontrolling Interest [Abstract]

Noncontrolling Interest Disclosure [Text Block]

Noncontrolling Interests

In certain of our strategic investments we own a controlling equity stake, but a third party owns a minority portion of the equity. The balance sheet and operating activity of these entities are included in our consolidated financial statements and we adjust the net income in our consolidated statement of operations to exclude the noncontrolling interests' proportionate share of results. We present the proportionate share of equity attributable to the redeemable noncontrolling interests as temporary equity within our consolidated balance sheet and the proportionate share of noncontrolling interests not subject to a redemption provision that is outside of our control as equity.

Redeemable noncontrolling interests

On April 15, 2015, we acquired 70% of the outstanding shares of Exagroup SAS. The remaining 30% is considered a redeemable noncontrolling equity interest, as it is redeemable in the future and not solely within our control. The Exagroup noncontrolling interest, redeemable at a fixed amount of €39,000, was recorded at its fair value as of the acquisition date and will be adjusted to its redemption value on a periodic basis, if that amount exceeds its carrying value. As of December 31, 2017, the redemption value was less than the carrying value, and therefore no adjustment was required.

On August 23, 2017, we sold approximately 12% of the outstanding shares of our WIRmachenDRUCK subsidiary for a total of €30,000 ($35,390 based on the exchange rate on the date we received the proceeds). The minority equity interest is considered a redeemable noncontrolling interest, as it is redeemable for cash based on future financial results through put and call rights and not solely within our control. The noncontrolling interest was recorded at its fair value as of the sale date and will be adjusted to its redemption value on a periodic basis, with an offset to retained earnings, if that amount exceeds its carrying value. If the formulaic redemption value exceeds the fair value of the noncontrolling interest, then the accretion to redemption value will be offset to the net (income) loss attributable to noncontrolling interest in our consolidated statement of operations. As of December 31, 2017, the redemption value was less than the carrying value, and therefore no adjustment was required.

The following table presents the reconciliation of changes in our noncontrolling interests:



	Redeemable noncontrolling interests		Noncontrolling interest
Balance as of June 30, 2017	$	45,412	$	213
Net income attributable to noncontrolling interest	673		58
Proceeds from sale of noncontrolling interest	35,390		—
Foreign currency translation	4,003		—
Balance as of December 31, 2017	$	85,478	$	271

Variable Interest Entities	6 Months Ended
Variable Interest Entities	Dec. 31, 2017
Variable Interest Entity [Line Items]
Variable Interest Entity Disclosure [Text Block]	Variable Interest Entity ("VIE") On August 7, 2014, we made a capital investment in Printi LLC, which operates in Brazil. This investment provided us access to a new market and the opportunity to drive longer-term growth in Brazil and other geographies as Printi expands internationally in the future. As of December 31, 2017, we have a 49.99% equity interest in Printi. Based upon the level of equity investment at risk, Printi is considered a variable interest entity. The shareholders of Printi share profits and voting control on a pro-rata basis. While we do not manage the day to day operations of Printi, we do have the unilateral ability to exercise participating voting rights for specific transactions, and as such no one shareholder is considered to be the primary beneficiary. However, certain significant shareholders cannot transfer their equity interests without our approval and as a result are considered de facto agents on our behalf in accordance with ASC 810-10-25-43. In aggregating our rights, as well as those of our de facto agents, the group as a whole has the power to direct the activities that most significantly impact the entity's economic performance, the obligation to absorb losses and the right to receive benefits from the entity. In situations where a de facto agency relationship is present, one party is required to be identified as the primary beneficiary, and the evaluation requires significant judgment. The factors considered include the presence of a principal/agent relationship, the relationship and significance of activities to the reporting entity, the variability associated with the VIE's anticipated economics and the design of the VIE. The analysis is qualitative in nature and is based on weighting the relative importance of each of the factors in relation to the specifics of the VIE arrangement. Upon our investment we performed an analysis and concluded that we are the party that is most closely associated with Printi, as we are most exposed to the variability of the economics and therefore considered the primary beneficiary. We will purchase an additional 3.7% non-voting economic interest during the fourth quarter of fiscal 2018. In addition, we will acquire the remaining equity interest in Printi through a reciprocal put and call structure, exercisable from March 31, 2021 through a mandatory redemption date of July 31, 2023. As the remaining equity interests are mandatorily redeemable by all parties no later than a specified future date, the noncontrolling interest is within the scope of ASC 480 and is required to be presented as a liability on our consolidated balance sheet. We adjust the liability to its estimated redemption value each reporting period and recognize any changes within interest expense, net in our consolidated statement of operations. We also have liability-based awards for Printi restricted stock held by Printi employees that are fully vested and marked to fair value each reporting period until cash settlement. As of December 31, 2017, through the use of an option pricing model we estimate the current fair value of the restricted stock to be $9,773 and we have recognized $1,007 and $1,047 in general and administrative expense for the three and six months ended December 31, 2017, respectively, compared to $398 and $784 in the prior comparative periods. We also have an arrangement to lend two Printi equity holders up to $24,000 that is payable on the date the put or call option is exercised, which will occur no later than July 31, 2023. As of December 31, 2017, the long-term loan receivable, including accrued interest, is $12,493 and classified within other assets in our consolidated balance sheets. We did not have a long-term loan receivable as of June 30, 2017. The loans carry 8.5% annual interest, and are not contingent upon continued employment. We expect that the loan proceeds will be used to offset our purchase of the remaining noncontrolling interest in the future.

Segment Information

6 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Segment Information

Our operating segments are based upon the manner in which our operations are managed and the availability of separate financial information reported internally to the Chief Executive Officer, who is our Chief Operating Decision Maker (“CODM”) for purposes of making decisions about how to allocate resources and assess performance. As of December 31, 2017 we have numerous operating segments under our management reporting structure which are reported in the following four reportable segments:


•	Vistaprint - Includes the operations of our Vistaprint websites focused on the North America, Europe, Australia and New Zealand markets, and our Webs-branded business, which is managed with the Vistaprint-branded digital business in the previously listed geographies.


•	Upload and Print - Includes the results of our druck.at, Easyflyer, Exagroup, Pixartprinting, Printdeal, Tradeprint, and WIRmachenDRUCK businesses.


•	National Pen - Includes the global operations of our National Pen businesses, which manufacture and market custom writing instruments and promotional products, apparel and gifts.

•

All Other Businesses - Includes the operations of our Most of World and Corporate Solutions businesses. Most of World consists of our businesses in Brazil, China, India and Japan. In Japan and India, we primarily operate under close derivatives of the Vistaprint business model and technology, albeit with decentralized, locally-managed cross-functional operations in each country, and with product, content and service offerings which we tailor to the Japanese and Indian markets. Our Corporate Solutions business serves medium-sized businesses and larger corporations, as well as our legacy business with retail partners and franchise businesses, primarily through the "Vistaprint Corporate" brand. Our All Other Businesses segment also includes Albumprinter results through the divestiture date of August 31, 2017.

Central and corporate costs consists primarily of the team of software engineers that is building our mass customization platform, shared service organizations such as global procurement, technology services such as hosting and security, and administrative costs of our Cimpress India offices where numerous Cimpress businesses have dedicated business-specific team members, and corporate functions including our Supervisory Board, CEO, and the team members necessary for managing corporate activities, such as treasury, tax, capital allocation, financial consolidation, and legal. These costs also include certain unallocated share-based compensation costs.

During the first quarter of fiscal 2018, we began presenting inter-segment fulfillment activity as revenue for the fulfilling business unit for purposes of measuring and reporting our segment financial performance. Any historical inter-segment fulfillment transactions were previously recognized as cost relief for the fulfilling business unit in our presentation to the CODM. We now recognize these transactions as inter-segment revenue for presentation to the CODM; for example, a third-party customer order received by our Corporate Solutions business that is fulfilled at one of our Vistaprint production facilities is recognized as inter-segment revenue for our Vistaprint business based on pricing and terms agreed upon between segment management. Inter-segment revenues are recognized only for transactions between our reportable segments and do not include any transactions between businesses within a reportable segment, which are eliminated within each reportable segment. Intercompany revenues are eliminated in our consolidated results.

As part of these changes, we also recast historical segment results to ensure the consistent application of our current inter-segment revenue presentation. For the three and six months ended December 31, 2016, we increased revenue for our Vistaprint business by $1,407 and $2,520, with a corresponding increase to inter-segment eliminations. We also recast historical segment profitability for the allocation of certain IT costs, which previously burdened our Vistaprint business, but have now been allocated to each of our businesses in fiscal 2018. For the three and six months ended December 31, 2016, the cost allocation change resulted in an increase to Vistaprint segment profit by $624 and $1,247, respectively, with a corresponding decrease to segment profit for Upload and Print of $161 and $322, respectively, and All Other Businesses of $140 and $280, respectively, and an increase to our Central and corporate cost center of $323 and $646, respectively.

For awards granted under our 2016 Performance Equity Plan, the PSU expense value is based on a Monte Carlo fair value analysis and is required to be expensed on an accelerated basis. In order to ensure comparability in measuring our businesses results, we allocate the straight-line portion of the fixed grant value to our businesses. Any expense in excess of the amount as a result of the fair value measurement of the PSUs and the accelerated expense profile of the awards is recognized within Central and corporate costs.

Segment profit (loss) is the primary profitability metric by which our CODM measures segment financial performance and allocates resources. Certain items are excluded from segment profit (loss), such as acquisition-related amortization and depreciation, expense recognized for contingent earn-out related charges, including the changes in fair value of contingent consideration and compensation expense related to cash-based earn-out mechanisms dependent upon continued employment, share-based compensation related to investment consideration, certain impairment expense, and restructuring charges. A portion of the interest expense associated with our Waltham lease is included as expense in segment profit (loss) and allocated based on headcount to the appropriate business or corporate and global function. The interest expense represents a portion of the cash rent payment and is considered an operating expense for purposes of measuring our segment performance. We do not allocate non-operating income to our segment results.

Our All Other Businesses reportable segment includes our Most of World and Corporate Solutions businesses that have operating losses as they are in the early stage of investment relative to the scale of the underlying businesses, which may limit its comparability to other segments regarding profit (loss).

Our balance sheet information is not presented to the CODM on an allocated basis, and therefore we do not present asset information by segment. We do present other segment information to the CODM, which includes purchases of property, plant and equipment and capitalization of software and website development costs, and therefore include that information in the tables below.

Revenue by segment is based on the business-specific websites or sales channel through which the customer’s order was transacted. The following tables set forth revenue, segment profit (loss), total income from operations and total income before income taxes.



	Three Months Ended December 31,						Six Months Ended December 31,
	2017			2016			2017			2016
Revenue:
Vistaprint (1)	$	428,908		$	380,821		$	747,951		$	667,356
Upload and Print (2)	192,527			152,388			352,917			284,345
National Pen (3)	126,098			—			185,815			—
All Other Businesses (4)	20,994			45,049			49,048			71,383
Total segment revenue	768,527			578,258			1,335,731			1,023,084
Inter-segment eliminations	(6,473		)	(1,407		)	(10,393		)	(2,520		)
Total consolidated revenue	$	762,054		$	576,851		$	1,325,338		$	1,020,564

_____________________

(1) Vistaprint segment revenues include inter-segment revenue of $2,803 and $5,006 for the three and six months ended December 31, 2017, respectively, and $1,407 and $2,520 for the prior comparative periods, respectively.

(2) Upload and Print segment revenues include inter-segment revenue of $480 and $808 for the three and six months ended December 31, 2017, respectively. No inter-segment revenue was recognized in the prior comparable periods.

(3) National Pen segment revenues include inter-segment revenue of $1,024 and $1,470 for the three and six months ended December 31, 2017, respectively. No inter-segment revenue was recognized in the prior comparable periods.

(4) All Other Businesses segment revenues include inter-segment revenue of $2,166 and $3,109 for the three and six months ended December 31, 2017, respectively. No inter-segment revenue was recognized in the prior comparable periods.



	Three Months Ended December 31,						Six Months Ended December 31,
	2017			2016			2017			2016
Segment profit (loss):
Vistaprint	$	99,049		$	67,016		$	129,944		$	92,288
Upload and Print	22,470			16,798			37,238			30,249
National Pen	17,645			—			18,830			—
All Other Businesses	(8,566		)	(2,107		)	(16,117		)	(11,859		)
Total segment profit	130,598			81,707			169,895			110,678
Central and corporate costs	(33,410		)	(31,228		)	(61,667		)	(59,414		)
Acquisition-related amortization and depreciation	(12,613		)	(10,019		)	(25,300		)	(20,232		)
Earn-out related charges (1)	(1,254		)	(7,010		)	(2,391		)	(23,257		)
Share-based compensation related to investment consideration	(1,007		)	(601		)	(1,047		)	(4,704		)
Restructuring-related charges	(11,501		)	(1,100		)	(12,355		)	(1,100		)
Interest expense for Waltham, MA lease	1,896			1,956			3,807			3,926
Gain on the purchase or sale of subsidiaries (2)	—			—			48,380			—
Total income from operations	72,709			33,705			119,322			5,897
Other (expense) income, net	(7,732		)	30,549			(24,044		)	28,417
Interest expense, net	(12,529		)	(9,631		)	(25,611		)	(19,535		)
Income before income taxes	$	52,448		$	54,623		$	69,667		$	14,779

___________________

(1) Includes expense recognized for the change in fair value of contingent consideration and compensation expense related to cash-based earn-out mechanisms dependent upon continued employment.

(2) Includes the impact of the gain on the sale of Albumprinter, as well as a bargain purchase gain as defined by ASC 805-30 for an acquisition in which the identifiable assets acquired and liabilities assumed are greater than the consideration transferred, that was recognized in general and administrative expense in our consolidated statement of operations during the six months ended December 31, 2017.



	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016
Depreciation and amortization:
Vistaprint	$	15,709	$	16,128	$	32,483	$	30,899
Upload and Print	15,005		13,567		29,725		28,032
National Pen	5,275		—		10,370		—
All Other Businesses	2,156		3,730		4,443		7,334
Central and corporate costs	3,154		3,552		6,662		6,117
Total depreciation and amortization	$	41,299	$	36,977	$	83,683	$	72,382



	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016
Purchases of property, plant and equipment:
Vistaprint	$	10,835	$	8,335	$	24,499	$	19,544
Upload and Print	5,733		3,184		8,991		7,984
National Pen	1,219		—		3,708		—
All Other Businesses	308		3,874		979		6,513
Central and corporate costs	122		1,548		497		2,219
Total purchases of property, plant and equipment	$	18,217	$	16,941	$	38,674	$	36,260



	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016
Capitalization of software and website development costs:
Vistaprint	$	5,507	$	5,528	$	11,080	$	8,662
Upload and Print	1,016		669		1,790		1,113
National Pen	367		—		367		—
All Other Businesses	400		637		1,368		1,905
Central and corporate costs	1,890		3,964		3,509		7,430
Total capitalization of software and website development costs	$	9,180	$	10,798	$	18,114	$	19,110

The following tables set forth long-lived assets by geographic area:



	December 31, 2017		June 30, 2017
Long-lived assets (1):
Netherlands	$	96,648	$	83,223
Canada	86,096		85,926
Switzerland	49,852		49,017
Italy	44,328		44,423
United States	37,046		64,034
Australia	23,610		22,961
France	22,200		22,794
Jamaica	21,503		21,492
Japan	20,302		20,686
Other	72,007		64,377
Total	$	473,592	$	478,933

___________________

(1) Excludes goodwill of $531,199 and $514,963, intangible assets, net of $258,657 and $275,924, the Waltham lease asset of $113,985 and $116,045, and deferred tax assets of $66,022 and $48,004 as of December 31, 2017 and June 30, 2017, respectively.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Commitments We have commitments under operating leases for our facilities that expire on various dates through 2026, including the Waltham lease arrangement discussed in Note 2. Total lease expense, net of sublease income, for the three and six months ended December 31, 2017 was $1,943 and $6,187, respectively and $4,021 and $6,292 for the three and six months ended December 31, 2016, respectively. We lease certain machinery and plant equipment under both capital and operating lease agreements that expire at various dates through 2027. The aggregate carrying value of the leased buildings and equipment under capital leases included in property, plant and equipment, net in our consolidated balance sheet at December 31, 2017, is $36,611, net of accumulated depreciation of $32,783; the present value of lease installments not yet due included in other current liabilities and other liabilities in our consolidated balance sheet at December 31, 2017 amounts to $34,002. Purchase Obligations At December 31, 2017, we had unrecorded commitments under contract of $63,952 including commitments for third-party web services of $25,161. In addition, we had purchase commitments for production and computer equipment purchases of approximately $5,451, inventory purchase commitments of $5,026, commitments for advertising campaigns of $3,717, professional and consulting fees of $1,735, and other unrecorded purchase commitments of $22,862. Other Obligations We have an outstanding installment obligation of $3,470 related to the fiscal 2012 intra-entity transfer of the intellectual property of our subsidiary Webs, Inc., which results in tax being paid over a 7.5 year term and has been classified as a deferred tax liability in our consolidated balance sheet as of December 31, 2017. Other obligations also include a liability related to our fiscal 2016 WIRmachenDRUCK acquisition of $47,994, which we paid on January 2, 2018. Refer to Note 7 for additional details. In addition, we have deferred payments related to our other acquisitions of $4,478 in aggregate. Legal Proceedings We are not currently party to any material legal proceedings. Although we cannot predict with certainty the results of litigation and claims to which we may be subject from time to time, we do not expect the resolution of any of our current matters to have a material adverse impact on our consolidated results of operations, cash flows or financial position. In all cases, at each reporting period, we evaluate whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. We expense the costs relating to our legal proceedings as those costs are incurred.

Restructuring Charges

6 Months Ended

Dec. 31, 2017

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

Restructuring Charges

Restructuring costs include one-time employee termination benefits, acceleration of share-based compensation, and other related costs including third-party professional and outplacement services. In total, we recognized restructuring charges of $11,501 and $12,355 during the three and six months ended December 31, 2017, respectively. For the three and six months ended December 31, 2016, we recognized $1,100 of restructuring charges related to our January 2017 restructuring initiative which we completed during the prior year.

In November 2017, our Vistaprint business executed its previously announced plan to reorganize its business, resulting in reductions to headcount and other operating costs. These changes are intended to simplify operations and more closely align functions to increase the speed of execution. We recognized $11,455 in restructuring charges during the three and six months ended December 31, 2017 for this action, which relates primarily to employee termination benefits. We do not expect any additional material charges to be incurred in future periods related to this initiative.

During the first quarter of fiscal 2018, we also underwent a restructuring initiative within our All Other Businesses reportable segment, in order to more effectively allocate capital within the segment. The initiative resulted in restructuring charges of $92 and $819 during the three and six months ended December 31, 2017, respectively. We do not expect any material charges to be incurred in future periods related to this initiative.

The following table summarizes the restructuring activity during the six months ended December 31, 2017:



	Severance and Related Benefits			Other Restructuring Costs			Total
Accrued restructuring liability as of June 30, 2017 (1)	$	4,602		$	208		$	4,810
Restructuring Charges (2)	12,396			(41		)	12,355
Cash payments	(10,841		)	(85		)	(10,926		)
Non-cash charges (3)	(609		)	—			(609		)
Accrued restructuring liability as of December 31, 2017	$	5,548		$	82		$	5,630

_____________________

(1) Accrued restructuring liability as of June 30, 2017 relates to our restructuring initiative announced in January 2017 and all remaining obligations have been paid as of December 31, 2017.

(2) For the three and six months ended December 31, 2017, we recorded changes in estimates within restructuring expense from our January 2017 restructuring initiative of $(46) and $81, respectively.

(3) Non-cash charges include acceleration of share-based compensation expenses.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Basis of Presentation

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Share-Based Compensation

Share-based compensation

Gain on sale of subsidiary [Policy Text Block]

Sale of Albumprinter

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Translation

Other Income (expense), net [Policy Text Block]

Other (expense) income, net

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



	Three Months Ended December 31,					Six Months Ended December 31,
	2017			2016		2017			2016
(Losses) gains on derivatives not designated as hedging instruments (1)	$	(1,752	)	$	13,477	$	(10,001	)	$	13,554
Currency-related (losses) gains, net (2)	(6,449		)	14,988		(14,652		)	12,022
Other gains (3)	469			2,084		609			2,841
Total other (expense) income, net	$	(7,732	)	$	30,549	$	(24,044	)	$	28,417

_____________________

(1) Primarily relates to both realized and unrealized (losses) gains on derivative currency forward and option contracts not designated as hedging instruments.

Net Income Per Share

Net Income Per Share Attributable to Cimpress N.V.

The following table sets forth the reconciliation of the weighted-average number of ordinary shares:



	Three Months Ended December 31,		Six Months Ended December 31,
	2017	2016	2017	2016
Weighted average shares outstanding, basic	31,026,043	31,291,356	31,123,177	31,431,090
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/RSAs	1,292,979	1,322,657	1,202,415	1,415,185
Shares used in computing diluted net income per share attributable to Cimpress N.V.	32,319,022	32,614,013	32,325,592	32,846,275
Weighted average anti-dilutive shares excluded from diluted net income per share attributable to Cimpress N.V.	—	28,031	4,582	22,586

Waltham and Lexington Lease Arrangements Disclosure [Text Block]

Waltham Lease Arrangement

Treasury Shares Accounting Method [Policy Text Block]

Treasury Shares

Recently Issued or Adopted Accounting Pronouncements

New Accounting Standards Adopted

Issued Accounting Standards to be Adopted

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Other Income [Table Text Block]

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



	Three Months Ended December 31,					Six Months Ended December 31,
	2017			2016		2017			2016
(Losses) gains on derivatives not designated as hedging instruments (1)	$	(1,752	)	$	13,477	$	(10,001	)	$	13,554
Currency-related (losses) gains, net (2)	(6,449		)	14,988		(14,652		)	12,022
Other gains (3)	469			2,084		609			2,841
Total other (expense) income, net	$	(7,732	)	$	30,549	$	(24,044	)	$	28,417

_____________________

(1) Primarily relates to both realized and unrealized (losses) gains on derivative currency forward and option contracts not designated as hedging instruments.

Schedule of Weighted Average Number of Shares [Table Text Block]

The following table sets forth the reconciliation of the weighted-average number of ordinary shares:



	Three Months Ended December 31,		Six Months Ended December 31,
	2017	2016	2017	2016
Weighted average shares outstanding, basic	31,026,043	31,291,356	31,123,177	31,431,090
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/RSAs	1,292,979	1,322,657	1,202,415	1,415,185
Shares used in computing diluted net income per share attributable to Cimpress N.V.	32,319,022	32,614,013	32,325,592	32,846,275
Weighted average anti-dilutive shares excluded from diluted net income per share attributable to Cimpress N.V.	—	28,031	4,582	22,586

Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Fair value of financial assets

The following tables summarize our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy:



	December 31, 2017
	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets
Interest rate swap contracts	$	3,159		$	—	$	3,159		$	—
Currency forward contracts	529			—		529			—
Total assets recorded at fair value	$	3,688		$	—	$	3,688		$	—

Liabilities
Interest rate swap contracts	$	(146	)	$	—	$	(146	)	$	—
Cross-currency swap contracts	(33,872		)	—		(33,872		)	—
Currency forward contracts	(28,223		)	—		(28,223		)	—
Currency option contracts	(557		)	—		(557		)	—
Contingent consideration	(5,942		)	—		—			(5,942		)
Total liabilities recorded at fair value	$	(68,740	)	$	—	$	(62,798	)	$	(5,942	)



	June 30, 2017
	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets
Interest rate swap contracts	$	1,717		$	—	$	1,717		$	—
Total assets recorded at fair value	$	1,717		$	—	$	1,717		$	—

Liabilities
Interest rate swap contracts	$	(483	)	$	—	$	(483	)	$	—
Cross-currency swap contracts	(19,760		)	—		(19,760		)	—
Currency forward contracts	(14,700		)	—		(14,700		)	—
Currency option contracts	(651		)	—		(651		)	—
Contingent consideration	(5,453		)	—		—			(5,453		)
Total liabilities recorded at fair value	$	(41,047	)	$	—	$	(35,594	)	$	(5,453	)

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table represents the changes in fair value of Level 3 contingent consideration:



	Six Months Ended December 31,
	2017 (1)		2016 (2)
Balance at June 30	$	5,453	$	1,212
Fair value adjustment	220		1,946
Foreign currency impact	269		(134		)
Balance at December 31	$	5,942	$	3,024

_____________________

(1) Classified as a current liability on the consolidated balance sheet.

(2) Classified as a long-term liability on the consolidated balance sheet.

Derivative Financial Instruments (Tables)

6 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments [Table Text Block]



Notional Amount	Effective Date	Maturity Date	Number of Instruments	Index
$529,938	June 2016 through December 2017	Various dates through December 2019	489	Various

As of December 31, 2017, we had nine outstanding interest rate swap contracts indexed to one-month LIBOR. These instruments were designated as cash flow hedges of interest rate risk and have varying start dates and maturity dates through December 2025.



Interest rate swap contracts outstanding:	Notional Amounts
Contracts accruing interest as of December 31, 2017	$	65,000
Contracts with a future start date	350,000
Total	$	415,000

Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The table below presents the fair value of our derivative financial instruments as well as their classification on the balance sheet as of December 31, 2017 and June 30, 2017:



	December 31, 2017
	Asset Derivatives								Liability Derivatives
Derivatives designated as hedging instruments	Balance Sheet line item	Gross amounts of recognized assets		Gross amount offset in consolidated balance sheet			Net amount		Balance Sheet line item	Gross amounts of recognized liabilities			Gross amount offset in consolidated balance sheet		Net amount
Derivatives in Cash Flow Hedging Relationships
Interest rate swaps	Other non-current assets	$	3,518	$	(359	)	$	3,159	Other current liabilities / other liabilities	$	(146	)	$	—	$	(146	)
Cross-currency swaps	Other non-current assets	—		—			—		Other liabilities	(14,757		)	—		(14,757		)
Derivatives in Net Investment Hedging Relationships
Cross-currency swaps	Other non-current assets	—		—			—		Other liabilities	(19,115		)	—		(19,115		)
Currency forward contracts	Other non-current assets	—		—			—		Other liabilities	(18,255		)	—		(18,255		)
Total derivatives designated as hedging instruments		$	3,518	$	(359	)	$	3,159		$	(52,273	)	$	—	$	(52,273	)

Derivatives not designated as hedging instruments
Currency forward contracts	Other current assets / other assets	$	734	$	(205	)	$	529	Other current liabilities / other liabilities	$	(11,043	)	$	1,075	$	(9,968	)
Currency option contracts	Other current assets / other assets	—		—			—		Other current liabilities / other liabilities	(557		)	—		(557		)
Total derivatives not designated as hedging instruments		$	734	$	(205	)	$	529		$	(11,600	)	$	1,075	$	(10,525	)



	June 30, 2017
	Asset Derivatives								Liability Derivatives
Derivatives designated as hedging instruments	Balance Sheet line item	Gross amounts of recognized assets		Gross amount offset in consolidated balance sheet			Net amount		Balance Sheet line item	Gross amounts of recognized liabilities			Gross amount offset in consolidated balance sheet		Net amount
Derivatives in Cash Flow Hedging Relationships
Interest rate swaps	Other non-current assets	$	2,072	$	(355	)	$	1,717	Other current liabilities / other liabilities	$	(483	)	$	—	$	(483	)
Cross-currency swaps	Other non-current assets	—		—			—		Other liabilities	(7,640		)	—		(7,640		)
Derivatives in Net Investment Hedging Relationships
Cross-currency swaps	Other non-current assets	—		—			—		Other liabilities	(12,120		)	—		(12,120		)
Currency forward contracts	Other non-current assets	—		—			—		Other liabilities	(9,896		)	—		(9,896		)
Total derivatives designated as hedging instruments		$	2,072	$	(355	)	$	1,717		$	(30,139	)	$	—	$	(30,139	)

Derivatives not designated as hedging instruments
Currency forward contracts	Other current assets / other assets	$	—	$	—		$	—	Other current liabilities / other liabilities	$	(8,033	)	$	3,229	$	(4,804	)
Currency Option Contracts	Other current assets / other assets	—		—			—		Other current liabilities / other liabilities	(651		)	—		(651		)
Total derivatives not designated as hedging instruments		$	—	$	—		$	—		$	(8,684	)	$	3,229	$	(5,455	)

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net



Derivatives in Hedging Relationships	Amount of Gain (Loss) Recognized in Comprehensive Income (Loss) on Derivatives
	Three Months Ended December 31,					Six Months Ended December 31,
In thousands	2017			2016		2017			2016
Derivatives in Cash Flow Hedging Relationships
Interest rate swaps	$	1,593		$	2,513	$	1,656		$	2,764
Cross-currency swaps	1,566			6,731		5,074			4,711
Derivatives in Net Investment Hedging Relationships
Cross-currency swaps	(2,222		)	6,883		(7,345		)	4,824
Currency forward contracts	(3,148		)	1,395		(9,542		)	939
	$	(2,211	)	$	17,522	$	(10,157	)	$	13,238

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

The following table presents reclassifications out of accumulated other comprehensive loss for the three and six months ended December 31, 2017 and 2016:



Details about Accumulated Other Comprehensive Loss Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income												Affected line item in the Statement of Operations
	Three Months Ended December 31,						Six Months Ended December 31,
In thousands	2017			2016			2017			2016
Derivatives in Cash Flow Hedging Relationships
Interest rate swaps	$	(164	)	$	117		$	(106	)	$	(38	)	Interest expense, net
Cross-currency swaps	(1,688		)	8,450			(5,435		)	7,497			Other (expense) income, net
Total before income tax	(1,852		)	8,567			(5,541		)	7,459			Income before income taxes
Income tax	482			(2,141		)	1,407			(1,865		)	Income tax expense
Total	$	(1,370	)	$	6,426		$	(4,134	)	$	5,594

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]



	Amount of Gain (Loss) Recognized in Net Income										Location of Gain (Loss) Recognized in Income (Ineffective Portion)
	Three Months Ended December 31,					Six Months Ended December 31,
In thousands	2017			2016		2017			2016
Derivatives not designated as hedging instruments
Currency contracts	$	(1,999	)	$	13,224	$	(10,279	)	$	13,301	Other (expense) income, net
Interest rate swaps	247			253		278			253		Other (expense) income, net
	$	(1,752	)	$	13,477	$	(10,001	)	$	13,554

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41641-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41638-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Dec. 31, 2017

Equity [Abstract]

Schedule of accumulated other comprehensive income (loss)

The following table presents a roll forward of amounts recognized in accumulated other comprehensive loss by component, net of tax of $(1,482) for the six months ended December 31, 2017:



	Gains (losses) on cash flow hedges (1)			Gains (losses) on pension benefit obligation			Translation adjustments, net of hedges (2)			Total
Balance as of June 30, 2017	$	(2,250	)	$	(357	)	$	(110,791	)	$	(113,398	)
Other comprehensive income (loss) before reclassifications	6,730			—			27,709			34,439
Amounts reclassified from accumulated other comprehensive loss to net income	(4,134		)	—			—			(4,134		)
Net current period other comprehensive income (loss)	2,596			—			27,709			30,305
Balance as of December 31, 2017	$	346		$	(357	)	$	(83,082	)	$	(83,093	)

________________________

(1) Gains (losses) on cash flow hedges include our interest rates swap and cross-currency swap contracts designated in cash flow hedging relationships.

Goodwill and Acquired Intangible Assets (Tables)

6 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The carrying amount of goodwill by reportable segment as of December 31, 2017 and June 30, 2017 is as follows:



	Vistaprint			Upload and Print		National Pen			All Other Businesses		Total
Balance as of June 30, 2017	$	147,207		$	321,805	$	34,520		$	11,431	$	514,963
Adjustments	(58		)	—		(86		)	—		(144		)
Effect of currency translation adjustments (1)	703			15,677		—			—		16,380
Balance as of December 31, 2017	$	147,852		$	337,482	$	34,434		$	11,431	$	531,199

_________________

(1) Relates to goodwill held by subsidiaries whose functional currency is not the U.S. Dollar.

Other Balance Sheet Components (Tables)

6 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Accrued expenses

Accrued expenses included the following:



	December 31, 2017		June 30, 2017
Income and indirect taxes (1)	$	56,255	$	34,469
Compensation costs	51,272		54,487
Advertising costs	35,774		26,641
Shipping costs (1)	12,416		6,651
Production costs (1)	11,335		7,472
Sales returns	6,085		4,474
Interest payable	5,546		5,263
Professional costs	3,120		3,021
Purchases of property, plant and equipment	1,724		3,786
Other	36,180		29,303
Total accrued expenses	$	219,707	$	175,567

_______________________

(1) The increase in income and indirect taxes, as well as production and shipping costs, is due to increased sales volumes during our peak holiday season in the second quarter of our fiscal year.

Other Current Liabilities [Table Text Block]

Other current liabilities included the following:



	December 31, 2017		June 30, 2017
Contingent earn-out liability	$	47,994	$	44,049
Current portion of lease financing obligation	12,569		12,569
Short-term derivative liabilities	13,786		7,243
Current portion of capital lease obligations	10,998		11,573
Mandatorily redeemable noncontrolling interest (1)	1,010		901
Other	2,912		2,100
Total other current liabilities	$	89,269	$	78,435

Schedule of Other Assets and Other Liabilities [Table Text Block]

Other liabilities included the following:



	December 31, 2017		June 30, 2017
Long-term derivative liabilities	$	50,651	$	31,936
Long-term capital lease obligations	23,004		28,306
Mandatorily redeemable noncontrolling interest (1)	2,757		2,456
Other (2)	31,472		31,985
Total other liabilities	$	107,884	$	94,683

_______________________

(1) Relates to the mandatorily redeemable noncontrolling interest of Printi LLC. Refer to Note 11 for additional details.

Total Debt (Tables)

6 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Debt



	December 31, 2017			June 30, 2017
Senior secured credit facility	$	425,507		$	600,037
7.0% Senior unsecured notes due 2022	275,000			275,000
Other	8,053			7,541
Debt issuance costs and debt discounts (1)	(8,030		)	(5,922		)
Total debt outstanding, net	700,530			876,656
Less short-term debt (2)	35,569			28,926
Long-term debt	$	664,961		$	847,730

_____________________

(2) Balances as of December 31, 2017 and June 30, 2017 are inclusive of short-term debt issuance costs and debt discounts of $1,846 and$1,693, respectively

Noncontrolling interest (Tables)

6 Months Ended

Dec. 31, 2017

Noncontrolling Interest [Line Items]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Table Text Block]

The following table presents the reconciliation of changes in our noncontrolling interests:



	Redeemable noncontrolling interests		Noncontrolling interest
Balance as of June 30, 2017	$	45,412	$	213
Net income attributable to noncontrolling interest	673		58
Proceeds from sale of noncontrolling interest	35,390		—
Foreign currency translation	4,003		—
Balance as of December 31, 2017	$	85,478	$	271

Segment Information (Tables)

6 Months Ended

Dec. 31, 2017

Segment Reporting, Revenue Reconciling Item [Line Items]

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

The following tables set forth revenue, segment profit (loss), total income from operations and total income before income taxes.



	Three Months Ended December 31,						Six Months Ended December 31,
	2017			2016			2017			2016
Revenue:
Vistaprint (1)	$	428,908		$	380,821		$	747,951		$	667,356
Upload and Print (2)	192,527			152,388			352,917			284,345
National Pen (3)	126,098			—			185,815			—
All Other Businesses (4)	20,994			45,049			49,048			71,383
Total segment revenue	768,527			578,258			1,335,731			1,023,084
Inter-segment eliminations	(6,473		)	(1,407		)	(10,393		)	(2,520		)
Total consolidated revenue	$	762,054		$	576,851		$	1,325,338		$	1,020,564

_____________________

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]



	Three Months Ended December 31,						Six Months Ended December 31,
	2017			2016			2017			2016
Segment profit (loss):
Vistaprint	$	99,049		$	67,016		$	129,944		$	92,288
Upload and Print	22,470			16,798			37,238			30,249
National Pen	17,645			—			18,830			—
All Other Businesses	(8,566		)	(2,107		)	(16,117		)	(11,859		)
Total segment profit	130,598			81,707			169,895			110,678
Central and corporate costs	(33,410		)	(31,228		)	(61,667		)	(59,414		)
Acquisition-related amortization and depreciation	(12,613		)	(10,019		)	(25,300		)	(20,232		)
Earn-out related charges (1)	(1,254		)	(7,010		)	(2,391		)	(23,257		)
Share-based compensation related to investment consideration	(1,007		)	(601		)	(1,047		)	(4,704		)
Restructuring-related charges	(11,501		)	(1,100		)	(12,355		)	(1,100		)
Interest expense for Waltham, MA lease	1,896			1,956			3,807			3,926
Gain on the purchase or sale of subsidiaries (2)	—			—			48,380			—
Total income from operations	72,709			33,705			119,322			5,897
Other (expense) income, net	(7,732		)	30,549			(24,044		)	28,417
Interest expense, net	(12,529		)	(9,631		)	(25,611		)	(19,535		)
Income before income taxes	$	52,448		$	54,623		$	69,667		$	14,779

___________________

(1) Includes expense recognized for the change in fair value of contingent consideration and compensation expense related to cash-based earn-out mechanisms dependent upon continued employment.

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]



	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016
Purchases of property, plant and equipment:
Vistaprint	$	10,835	$	8,335	$	24,499	$	19,544
Upload and Print	5,733		3,184		8,991		7,984
National Pen	1,219		—		3,708		—
All Other Businesses	308		3,874		979		6,513
Central and corporate costs	122		1,548		497		2,219
Total purchases of property, plant and equipment	$	18,217	$	16,941	$	38,674	$	36,260



	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016
Capitalization of software and website development costs:
Vistaprint	$	5,507	$	5,528	$	11,080	$	8,662
Upload and Print	1,016		669		1,790		1,113
National Pen	367		—		367		—
All Other Businesses	400		637		1,368		1,905
Central and corporate costs	1,890		3,964		3,509		7,430
Total capitalization of software and website development costs	$	9,180	$	10,798	$	18,114	$	19,110



	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016
Depreciation and amortization:
Vistaprint	$	15,709	$	16,128	$	32,483	$	30,899
Upload and Print	15,005		13,567		29,725		28,032
National Pen	5,275		—		10,370		—
All Other Businesses	2,156		3,730		4,443		7,334
Central and corporate costs	3,154		3,552		6,662		6,117
Total depreciation and amortization	$	41,299	$	36,977	$	83,683	$	72,382

Revenues and long-lived assets by geographic area

The following tables set forth long-lived assets by geographic area:



	December 31, 2017		June 30, 2017
Long-lived assets (1):
Netherlands	$	96,648	$	83,223
Canada	86,096		85,926
Switzerland	49,852		49,017
Italy	44,328		44,423
United States	37,046		64,034
Australia	23,610		22,961
France	22,200		22,794
Jamaica	21,503		21,492
Japan	20,302		20,686
Other	72,007		64,377
Total	$	473,592	$	478,933

___________________

Restructuring Charges (Tables)

6 Months Ended

Dec. 31, 2017

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs [Table Text Block]

The following table summarizes the restructuring activity during the six months ended December 31, 2017:



	Severance and Related Benefits			Other Restructuring Costs			Total
Accrued restructuring liability as of June 30, 2017 (1)	$	4,602		$	208		$	4,810
Restructuring Charges (2)	12,396			(41		)	12,355
Cash payments	(10,841		)	(85		)	(10,926		)
Non-cash charges (3)	(609		)	—			(609		)
Accrued restructuring liability as of December 31, 2017	$	5,548		$	82		$	5,630

_____________________

(1) Accrued restructuring liability as of June 30, 2017 relates to our restructuring initiative announced in January 2017 and all remaining obligations have been paid as of December 31, 2017.

(2) For the three and six months ended December 31, 2017, we recorded changes in estimates within restructuring expense from our January 2017 restructuring initiative of $(46) and $81, respectively.

(3) Non-cash charges include acceleration of share-based compensation expenses.

Summary of Significant Accounting Policies (Details Textuals)
€ in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2017

EUR (€)

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Jun. 30, 2018

USD ($)

Jun. 30, 2017

USD ($)

Proceeds from Divestiture of Interest in Consolidated Subsidiaries

Share-based Compensation

$ 13,314

$ 11,277

$ 20,226

$ 22,848

€ 78,382

93,071

Cash Dividends Paid to Parent Company by Consolidated Subsidiaries

11,874

Gain (Loss) on sale of subsidiaries

47,545

Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net

^[1]

(1,752)

13,477

(10,001)

13,554

Foreign Currency Transaction Gain (Loss), Realized

^[2]

(6,449)

14,988

(14,652)

12,022

Other Nonoperating Gains (Losses)

^[3]

469

2,084

609

2,841

Other (expense) income, net

(7,732)

30,549

(24,044)

28,417

Marketable Securities, Realized Gain

$ (2,268)

$ 0

$ (2,268)

Insured Event, Gain (Loss)

$ 377

Weighted average shares outstanding — basic | shares

31,026,043

31,291,356

31,123,177

31,431,090

Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | shares

1,292,979

1,322,657

1,202,415

1,415,185

Weighted average shares outstanding — diluted | shares

32,319,022

32,614,013

32,325,592

32,846,275

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares

28,031

4,582

22,586

Treasury Stock, Shares, Acquired | shares

$ 507,299

$ 511,947

574,264

593,763

Payments for Repurchase of Common Stock

$ 55,139

$ 50,008

Waltham Lease [Member]

Other Current Assets [Member]

113,985

116,045

Other Liabilities

117,307

$ 119,176

Cumulative Effect of New Accounting Principle in Period of Adoption

24,573

Deferred Tax Asset [Domain]

Cumulative Effect of New Accounting Principle in Period of Adoption

18,710

Retained Earnings [Member]

New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets

5,863

Cross Currency Interest Rate Contract [Member]

Unrealized Gain (Loss) on Cash Flow Hedging Instruments

$ 2,016

$ 7,827

$ 6,126

$ 6,393

Income Taxes [Member] | Scenario, Forecast [Member]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

$ 9,787

[1]	Primarily relates to both realized and unrealized (losses) gains on derivative currency forward and option contracts not designated as hedging instruments.
[2]	We have significant non-functional currency intercompany financing relationships, which we may alter at times, and are subject to currency exchange rate volatility. The currency-related (losses) gains, net for the three and six months ended December 31, 2017 and 2016 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 losses related to cross-currency swaps were $2,016 and $6,126 for the three and six months ended December 31, 2017, respectively, and unrealized gains of $7,827 and $6,393 for the three and six months ended December 31, 2016, respectively.
[3]	We recognized a gain of $377 related to insurance recoveries during the three and six months ended December 31, 2017. During the prior comparative periods we recognized a gain of $2,268 related to the sale of Plaza Create Co. Ltd. available for sale securities.

Fair Value Measurements (Details)
€ in Thousands, $ in Thousands

6 Months Ended

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2017

EUR (€)

Dec. 31, 2017

USD ($)

Jun. 30, 2017

USD ($)

Jun. 30, 2016

USD ($)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Current

$ 47,994

$ 44,049

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings

$ 220

$ 1,946

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss)

$ 269

(134)

Debt Instrument, Fair Value Disclosure

700,530

876,656

716,837

906,744

Total debt, Gross [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

WIRmachenDRUCK GmbH [Member]

708,560

882,578

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair value, recurring measurements [Member]

(5,942)

(5,453)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, Fair Value Disclosure, Recurring

3,688

1,717

Liabilities, Fair Value Disclosure, Recurring

68,740

41,047

Interest Rate Swap [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative Assets (Liabilities), at Fair Value, Net

3,159

Cross Currency Interest Rate Contract [Member]

(146)

(483)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

(33,872)

(19,760)

Currency Swap [Member]

Derivative Assets (Liabilities), at Fair Value, Net

1,717

529

Foreign Exchange Option [Member]

(28,223)

(14,700)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

(557)

(651)

Maximum [Member]

Business Combination, Contingent Consideration, Liability, Current | €

€ 40,000

Not Designated as Hedging Instrument [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

734

Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member]

(5,455)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign Currency Contract, Asset, Fair Value Disclosure

734

529

Not Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Inputs, Level 2 [Member] | Fair value, recurring measurements [Member]

(557)

(651)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, Fair Value Disclosure, Recurring

3,688

1,717

Liabilities, Fair Value Disclosure, Recurring

62,798

35,594

Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative Assets (Liabilities), at Fair Value, Net

3,159

Fair Value, Inputs, Level 2 [Member] | Cross Currency Interest Rate Contract [Member]

(146)

(483)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Inputs, Level 2 [Member] | Currency Swap [Member]

(33,872)

(19,760)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative Assets (Liabilities), at Fair Value, Net

1,717

529

Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Option [Member]

(28,223)

(14,700)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Inputs, Level 3 [Member] | Fair value, recurring measurements [Member]

(557)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities, Fair Value Disclosure, Recurring

5,942

5,453

Other Noncurrent Liabilities [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value

^[1]

$ 1,212

Other Noncurrent Liabilities [Member] | Fair Value, Inputs, Level 3 [Member]

^[1]

$ (3,024)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other Current Liabilities [Member]

(5,453)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value

^[2]

5,942

$ 5,453

Other Current Liabilities [Member] | Fair Value, Inputs, Level 3 [Member] | WIRmachenDRUCK GmbH [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

$ (5,942)

[1]	Classified as a long-term liability on the consolidated balance sheet.
[2]	Classified as a current liability on the consolidated balance sheet.

Derivative Financial Instruments (Details)
$ in Thousands

3 Months Ended

6 Months Ended

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2017

USD ($)

instrument

Dec. 31, 2016

USD ($)

instrument

Jun. 30, 2017

USD ($)

Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net

^[1]

$ (1,752)

$ 13,477

$ (10,001)

$ 13,554

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

(2,211)

17,522

(10,157)

$ 13,238

Designated as Hedging Instrument [Member]

3,518

$ 2,072

(359)

(355)

(52,273)

(30,139)

Interest Rate Cash Flow Hedge Asset at Fair Value

(52,273)

(30,139)

3,159

1,717

Not Designated as Hedging Instrument [Member]

734

(205)

(11,600)

(8,684)

1,075

3,229

Interest Rate Swap Contracts, Assets, Fair Value Disclosure

(5,455)

529

Foreign Exchange Option [Member]

Foreign Exchange Option [Member] | Not Designated as Hedging Instrument [Member]

(557)

(651)

(557)

(651)

Interest Rate Swap [Member]

(557)

(651)

Derivative, Number of Ineffective Instruments Held | instrument

(146)

$ (146)

(483)

Notional Amount of Interest Rate Derivatives

65,000

$ 65,000

Notional value of contracts with future start date

350,000

Total current and future notional amount

$ 415,000

Derivative, Underlying Basis

one-month LIBOR

Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net

$ 247

253

$ 278

$ 253

Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months

$ 385

Interest Rate Swap [Member] | Minimum [Member]

Interest Rate Swap [Member] | Maximum [Member]

Dec. 31, 2018

Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]

Dec. 31, 2025

3,518

$ 3,518

2,072

(359)

(355)

(146)

(483)

Interest Rate Cash Flow Hedge Liability at Fair Value

(146)

(483)

Interest Rate Cash Flow Hedge Asset at Fair Value

3,159

1,717

Foreign Exchange Forward [Member]

$ 529,938

Derivative, Underlying Basis

489

Various

Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net

$ (1,999)

13,224

$ (10,279)

13,301

Foreign Exchange Forward [Member] | Minimum [Member]

Foreign Exchange Forward [Member] | Maximum [Member]

Oct. 15, 2018

Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member]

Oct. 17, 2022

734

$ 734

(205)

(11,043)

(8,033)

Derivative, Net Liability Position, Aggregate Fair Value

1,075

3,229

(4,804)

Foreign Currency Contract, Asset, Fair Value Disclosure

529

Foreign Currency Contracts, Liability, Fair Value Disclosure

(9,968)

Currency Swap [Member]

529

Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value

(28,223)

(14,700)

(14,757)

$ 120,011

Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months

$ 1,154

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

$ 1,566

6,731

$ 5,074

4,711

Currency Swap [Member] | Minimum [Member]

Currency Swap [Member] | Maximum [Member]

Apr. 01, 2019

Currency Swap [Member] | Designated as Hedging Instrument [Member]

Jun. 30, 2019

(14,757)

$ (14,757)

(7,640)

Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value

(7,640)

Interest Expense [Member] | Interest Rate Swap [Member]

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

1,593

2,513

1,656

2,764

Fair value, recurring measurements [Member] | Foreign Exchange Forward [Member]

Foreign Currency Contracts, Liability, Fair Value Disclosure

(10,525)

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Expense [Member] | Interest Rate Swap [Member]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

(164)

117

(106)

(38)

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Other Income [Member] | Currency Swap [Member]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

(1,688)

(8,450)

(5,435)

7,497

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

1,370

(6,426)

4,134

(5,594)

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Income (loss) before taxes [Member]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

(1,852)

8,567

(5,541)

7,459

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Income Taxes [Member] | Interest Rate Swap [Member]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

(482)

2,141

1,407

(1,865)

Net Investment Hedging [Member] | Currency Swap [Member]

$ 122,969

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

$ (2,222)

6,883

$ (7,345)

4,824

Net Investment Hedging [Member] | Currency Swap [Member] | Designated as Hedging Instrument [Member]

(19,115)

(12,120)

Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value

(19,115)

(12,120)

Net Investment Hedging [Member] | Forward Contracts [Member]

$ 175,262

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

$ (3,148)

$ 1,395

$ (9,542)

$ 939

Net Investment Hedging [Member] | Forward Contracts [Member] | Designated as Hedging Instrument [Member]

(18,255)

(9,896)

Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value

$ (18,255)

$ (9,896)

[1]	Primarily relates to both realized and unrealized (losses) gains on derivative currency forward and option contracts not designated as hedging instruments.

Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Dec. 31, 2017

Jun. 30, 2017

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated other comprehensive income (loss), tax

$ (1,482)

Derivatives used in Net Investment Hedge, Net of Tax, Period Increase (Decrease)

(33,935)

$ (17,048)

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Other comprehensive income (loss) before reclassifications

(113,398)

34,439

Amounts reclassified from accumulated other comprehensive loss to net (loss) income

(4,134)

Net current period other comprehensive income (loss)

30,305

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

(83,093)

(113,398)

Pension Plan [Member]

Amounts reclassified from accumulated other comprehensive loss to net (loss) income

(357)

Net current period other comprehensive income (loss)

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]

(357)

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Other comprehensive income (loss) before reclassifications

^[1]

(2,250)

^[1]

6,730

Amounts reclassified from accumulated other comprehensive loss to net (loss) income

^[1]

(4,134)

Net current period other comprehensive income (loss)

^[1]

2,596

Accumulated Translation Adjustment [Member]

^[1]

346

(2,250)

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Other comprehensive income (loss) before reclassifications

^[2]

(110,791)

^[2]

27,709

Amounts reclassified from accumulated other comprehensive loss to net (loss) income

^[2]

Net current period other comprehensive income (loss)

^[2]

27,709

AOCI Attributable to Parent [Member]

^[2]

(83,082)

$ (110,791)

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax

$ 0

[1]	Gains (losses) on cash flow hedges include our interest rates swap and cross-currency swap contracts designated in cash flow hedging relationships.
[2]	As of December 31, 2017 and June 30, 2017, the translation adjustment is inclusive of the effects of our net investment hedges, of which, unrealized losses of $33,935 and $17,048, respectively, net of tax, have been included in accumulated other comprehensive loss.

Goodwill and Acquired Intangible Assets (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2017

Dec. 31, 2016

Goodwill, Purchase Accounting Adjustments

$ 514,963

^[1]

(144)

16,380

Amortization of acquired intangible assets

$ 531,199

531,199

12,558

$ 9,879

25,191

$ 20,092

Vistaprint Business Unit [Member]

Goodwill, Purchase Accounting Adjustments

147,207

^[1]

(58)

703

Upload and Print Business Units [Member]

147,852

321,805

15,677

National Pen CO. LLC [Member]

337,482

Goodwill, Purchase Accounting Adjustments

34,520

^[1]

(86)

All Other Business Units [Member]

34,434

11,431

Schedule of other current liabilities [Line Items]

$ 11,431

[1]	Relates to goodwill held by subsidiaries whose functional currency is not the U.S. Dollar.

Accrued Expenses (Details) - USD ($)
$ in Thousands

Dec. 31, 2017

Jun. 30, 2017

Compensation costs

$ 51,272

$ 54,487

Income and indirect taxes

^[1]

56,255

34,469

Accrued Advertising

35,774

26,641

Shipping costs

^[1]

12,416

6,651

Sales returns

6,085

4,474

Production costs

^[1]

11,335

7,472

Interest Payable

5,546

5,263

Purchases of property, plant and equipment

1,724

3,786

Professional costs

3,120

3,021

Other

36,180

29,303

Accrued Liabilities

$ 219,707

$ 175,567

[1]	The increase in income and indirect taxes, as well as production and shipping costs, is due to increased sales volumes during our peak holiday season in the second quarter of our fiscal year.

Other Current Liabilities (Details)
€ in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2017

EUR (€)

Dec. 31, 2017

USD ($)

Jun. 30, 2017

USD ($)

Schedule of other current liabilities [Line Items]

Business Combination, Contingent Consideration, Liability, Current

$ 47,994

$ 44,049

Lease financing obligation, short-term portion

12,569

Derivative Liability, Current

13,786

7,243

Capital Lease Obligations, Current

10,998

11,573

Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Current

^[1]

1,010

901

Other Liabilities, Current

89,269

78,435

Asset at Fair Value, Changes in Fair Value Resulting from Changes in Assumptions

$ 947

$ 6,746

$ 1,774

$ 22,766

Other Current Liabilities [Member]

Schedule of other current liabilities [Line Items]

Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value

^[2]

5,942

5,453

Other Liabilities, Current

2,912

2,100

Maximum [Member]

Schedule of other current liabilities [Line Items]

Business Combination, Contingent Consideration, Liability, Current | €

€ 40,000

WIRmachenDRUCK GmbH [Member]

Schedule of other current liabilities [Line Items]

Business Combination, Contingent Consideration, Liability

5,942

$ 5,453

WIRmachenDRUCK GmbH [Member] | Other Current Liabilities [Member]

Schedule of other current liabilities [Line Items]

Contingent compensation liability

$ 42,052

[1]	Relates to the mandatorily redeemable noncontrolling interest of Printi LLC. Refer to Note 11 for additional details.
[2]	Classified as a current liability on the consolidated balance sheet.

Other Balance Sheet Components Other liabilities (Details) - USD ($)
$ in Thousands

Dec. 31, 2017

Jun. 30, 2017

Schedule of other liabilities [Line Items]

Derivative Liability, Noncurrent

$ 50,651

$ 31,936

Capital Lease Obligations, Noncurrent

23,004

28,306

Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Noncurrent

^[1]

2,757

2,456

Other Liabilities, Noncurrent

107,884

94,683

Deferred Compensation Share-based Arrangements, Liability, Classified, Noncurrent

9,773

8,173

Other Noncurrent Liabilities [Member]

Schedule of other liabilities [Line Items]

Other Liabilities, Noncurrent

^[2]

$ 31,472

$ 31,985

[1]	Relates to the mandatorily redeemable noncontrolling interest of Printi LLC. Refer to Note 11 for additional details.
[2]	As of December 31, 2017 and June 30, 2017, other liabilities includes $9,773 and $8,173, respectively, related to share-based compensation awards associated with our investment in Printi LLC. Refer to Note 11 for additional details.

Debt (Details) - USD ($)
$ in Thousands

6 Months Ended

Dec. 31, 2017

Jun. 30, 2017

Debt Issuance Cost, Gross, Noncurrent

$ 700,530

$ 876,656

Senior Notes

275,000

Other Long-term Debt

8,053

7,541

3,251

Short-term debt

^[1]

35,569

28,926

Long-term debt

664,961

847,730

Line of Credit Facility, Maximum Borrowing Capacity

$ 1,045,000

Description of variable rate basis

LIBOR

Debt Instrument, Unamortized Discount

^[2]

$ (8,030)

(5,922)

Line of Credit [Member]

Debt Instrument, Unamortized Discount

(1,846)

(1,693)

Revolving Credit Facility [Member]

425,507

600,037

Senior Notes [Member]

Debt Instrument, Interest Rate, Stated Percentage

Senior Notes

$ 275,000

7.00%

Line of Credit [Member]

Line of Credit Facility, Current Borrowing Capacity

$ 1,037,500

Line of Credit [Member] | Minimum [Member]

Commitment fee (percentage)

Basis spread on LIBOR

1.50%

0.225%

Line of Credit [Member] | Maximum [Member]

Commitment fee (percentage)

Basis spread on LIBOR

2.25%

0.40%

Revolving Loan, Maturity July 13, 2022 [Member]

Weighted average interest rate

3.77%

Term Loan [Domain] | Line of Credit [Member]

Line of Credit Facility, Current Borrowing Capacity

$ 292,500

Revolving Loan, Maturity July 13, 2022 [Member] | Line of Credit [Member]

Line of Credit Facility, Current Borrowing Capacity

$ 745,000

Redemption Any Time Prior to April 1, 2018

Debt Instrument, Redemption Price, Percentage

107.00%

Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed

35.00%

Redemption Any Time Prior to April 1, 2018 - Percentage of Aggregate Outstanding Principal

Debt Instrument, Redemption Price, Percentage

100.00%

[1]	Balances as of December 31, 2017 and June 30, 2017 are inclusive of short-term debt issuance costs and debt discounts of $1,846 and$1,693, respectively
[2]	During the six months ended December 31, 2017, we capitalized $3,251 in debt issuance costs, which related to the amendment and restatement to our senior secured credit facility. Refer below for additional details relating to the amendment.

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Income tax expense	$ 21,825	$ 19,601	$ 15,638	$ 9,787
Unrecognized Tax Benefits	5,317		$ 5,317
Tax payment term			7 years 6 months
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount	(1,025)	$ (425)	$ (1,473)	$ (4,614)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	391
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits	500		500
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits	600		$ 600
Tax Cuts and Jobs Act of 2017 [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense	$ 4,701

Noncontrolling interest (Details) € in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2017 EUR (€)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($)	Jun. 30, 2017 USD ($)
Noncontrolling Interest [Line Items]
Stockholders' Equity Attributable to Noncontrolling Interest						$ 271	$ 213
Net Income (Loss) Attributable to Noncontrolling Interest	$ 688	$ (6)		$ 731	$ (933)
Proceeds from Noncontrolling Interests				35,390	$ 0
WIRmachenDRUCK GmbH [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			12.00%			12.00%
Proceeds from Noncontrolling Interests			€ 30,000	35,390
Exagroup SAS [Member]
Noncontrolling Interest [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired			70.00%			70.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			30.00%			30.00%
Redeemable Noncontrolling Interest, Equity, Other, Redemption Value \| €			€ 39,000
Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Stockholders' Equity Attributable to Noncontrolling Interest						$ 271	213
Net Income (Loss) Attributable to Noncontrolling Interest				58
Redeemable noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Stockholders' Equity Attributable to Noncontrolling Interest						$ 85,478	$ 45,412
Net Income (Loss) Attributable to Noncontrolling Interest				673
Proceeds from Noncontrolling Interests				35,390
Other Comprehensive (Income) Loss, Foreign Currency Translation Adjustment, Tax, Portion Attributable to Noncontrolling Interest				$ 4,003

Variable Interest Entities (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Liability equity award, fair value		$ 9,773		$ 9,773
Liability equity award, expense recognized during period		1,007	$ 398	$ 1,047	$ 784
Variable Interest Entity, Ownership Percentage				49.99%
Loans to employee		24,000		$ 24,000
Due from Employees, Noncurrent		$ 12,493		$ 12,493
Interest rate on loan receivable		8.50%		8.50%
Subsequent Event [Member]
Variable Interest Entity [Line Items]
Additional ownership percentage purchase, Variable interest entity	3.70%

Segment Information (Details)
$ in Thousands

3 Months Ended

6 Months Ended

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Jun. 30, 2017

USD ($)

Number of Reportable Segments

$ 9,180

$ 10,798

$ 18,114

$ 19,110

768,527

578,258

$ 1,335,731

1,023,084

Revenue

762,054

576,851

1,325,338

1,020,564

(169,895)

(110,678)

Change in contingent earn-out liability

41,299

36,977

83,683

72,382

1,774

22,766

(13,314)

(11,277)

(20,226)

(22,848)

Equity Method Investment, Realized Gain (Loss) on Disposal

^[1]

(11,501)

(1,100)

(12,355)

(1,100)

48,380

^[2]

Other (expense) income, net

72,709

33,705

119,322

5,897

(7,732)

30,549

(24,044)

28,417

Interest expense, net

(12,529)

(9,631)

(25,611)

(19,535)

Income before income taxes

52,448

54,623

69,667

14,779

18,217

16,941

38,674

36,260

^[3]

473,592

$ 478,933

Deferred tax assets

66,022

48,004

531,199

514,963

Intangible assets, net

258,657

275,924

507,299

511,947

Canada [Member]

86,096

85,926

Netherlands [Member]

96,648

83,223

Switzerland [Member]

49,852

49,017

Australia [Member]

23,610

22,961

Jamaica [Member]

21,503

21,492

FRANCE

22,200

22,794

ITALY

44,328

44,423

JAPAN

20,302

20,686

Other [Member]

72,007

64,377

UNITED STATES

37,046

64,034

Waltham Lease [Member]

Interest Expense

3,807

3,926

Central and corporate costs [Member]

113,985

116,045

1,890

3,964

3,509

7,430

323

646

61,667

59,414

(3,154)

(3,552)

(6,662)

(6,117)

(33,410)

31,228

All Other Business Units [Member]

122

1,548

497

2,219

400

637

1,368

1,905

^[4]

20,994

45,049

49,048

71,383

140

280

16,117

11,859

(2,156)

(3,730)

(4,443)

(7,334)

(92)

(819)

308

3,874

979

6,513

Vistaprint Business Unit [Member]

11,431

5,507

5,528

11,080

8,662

^[5]

428,908

380,821

747,951

667,356

(624)

(1,247)

(129,944)

(92,288)

(15,709)

(16,128)

(32,483)

(30,899)

(11,455)

10,835

8,335

24,499

19,544

Upload and Print Business Units [Member]

147,852

147,207

1,016

669

1,790

1,113

^[6]

192,527

152,388

352,917

284,345

161

322

(37,238)

(30,249)

(15,005)

(13,567)

(29,725)

(28,032)

5,733

3,184

8,991

7,984

National Pen CO. LLC [Member]

337,482

321,805

367

^[7]

126,098

185,815

(18,830)

(5,275)

(10,370)

1,219

3,708

34,434

$ 34,520

Share-based compensation related to investment consideration [Member]

12,613

10,019

25,300

20,232

(1,007)

(601)

(1,047)

(4,704)

(506)

(609)

Change in fair value of contingent consideration [Member]

(11,501)

(1,100)

(12,355)

(1,100)

Change in contingent earn-out liability

^[8]

1,254

(7,010)

(2,391)

(23,257)

Waltham Lease [Member]

Operating Segments [Member]

Interest Expense

1,896

1,956

Operating Segments [Member] | All Other Business Units [Member]

130,598

81,707

Operating Segments [Member] | Vistaprint Business Unit [Member]

(8,566)

(2,107)

Operating Segments [Member] | Upload and Print Business Units [Member]

99,049

67,016

Operating Segments [Member] | National Pen CO. LLC [Member]

22,470

16,798

Intersegment Eliminations [Member]

17,645

Intersegment Eliminations [Member] | All Other Business Units [Member]

(6,473)

(1,407)

(10,393)

(2,520)

Intersegment Eliminations [Member] | Vistaprint Business Unit [Member]

2,166

3,109

Intersegment Eliminations [Member] | Upload and Print Business Units [Member]

2,803

$ 1,407

5,006

$ 2,520

Intersegment Eliminations [Member] | National Pen CO. LLC [Member]

480

808