0001262976-21-000040 | 10-K | XBRL Viewer

Technology and development expense (1)

$ 2,592,513

$ 2,481,358

$ 2,751,076

Cost of revenue (1)

1,316,441

1,248,871

1,401,344

^[1]

253,060

253,252

236,797

^[1]

Marketing and selling expense (1)

648,391

574,041

713,863

^[1]

General and administrative expense (1)

195,652

183,054

162,652

^[1]

Amortization of acquired intangible assets

53,818

51,786

53,256

1,641

13,543

12,054

^[1]

Other (expense) income, net

100,842

7,503

Income from operations

123,510

55,969

163,607

(11,835)

22,874

26,476

Interest expense, net

(119,368)

(75,840)

(63,171)

Loss on early extinguishment of debt

(48,343)

(Loss) income before income taxes

(56,036)

3,003

126,912

Income tax expense (benefit)

18,903

(80,992)

33,432

Net (loss) income

(74,939)

83,995

93,480

Add: Net (income) loss attributable to noncontrolling interest

(2,772)

(630)

1,572

Net (loss) income attributable to Cimpress plc

$ (77,711)

$ 83,365

$ 95,052

Basic net (loss) income per share attributable to Cimpress plc

$ (2.99)

$ 3.07

$ 3.09

Diluted net (loss) income per share attributable to Cimpress plc

$ (2.99)

$ 3.00

Weighted average shares outstanding — basic

25,996,572

27,180,744

30,786,349

Weighted average shares outstanding — diluted

25,996,572

27,773,286

31,662,705

Condensed Income Statements, Captions [Line Items]

Condensed Income Statements, Captions [Line Items]

$ (37,034)

$ (34,874)

$ (21,716)

Cost of revenue

Technology and development expense

(387)

(486)

(455)

Condensed Income Statements, Captions [Line Items]

Marketing and selling expense

(9,063)

(9,003)

(3,765)

Condensed Income Statements, Captions [Line Items]

General and administrative expense

(6,947)

(2,703)

(1,193)

Condensed Income Statements, Captions [Line Items]

Condensed Income Statements, Captions [Line Items]

(20,637)

(21,061)

(12,882)

Restructuring Charges

$ 0

$ (1,621)

$ (3,421)

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

Consolidated Statement of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Other comprehensive (loss) income, net of tax:
Net (loss) income	$ (74,939)	$ 83,995	$ 93,480
Foreign currency translation gains, net of hedges	5,397	10,933	6,667
Net unrealized gains (losses) on derivative instruments designated and qualifying as cash flow hedges	10,336	(24,570)	(23,409)
Amounts reclassified from accumulated other comprehensive (loss) income to net (loss) income on derivative instruments	(4,089)	5,774	3,932
Loss on pension benefit obligation, net	(336)	(1,195)	(204)
Comprehensive (loss) income	(63,631)	74,937	80,466
Add: Comprehensive (income) loss attributable to noncontrolling interests	(4,404)	(391)	4,537
Total comprehensive (loss) income attributable to Cimpress plc	$ (68,035)	$ 74,546	$ 85,003

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

Commitments and Contingencies Disclosure [Abstract]

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Consolidated Statement of Shareholders Equity Statement - USD ($) $ in Thousands	Total	Equity Component [Domain]	Ordinary Shares	Deferred ordinary shares [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Accumulated Translation Adjustment [Member]
Beginning balance, Shares at Jun. 30, 2018			(44,080,000)	0	(13,206,000)
Beginning balance, Value at Jun. 30, 2018	$ (93,662)		$ 615	$ 0	$ (685,577)	$ 395,682	$ 452,756	$ (69,814)
Stock Issued During Period, Value, Restricted Stock Award, Gross	24				$ 24
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares					123,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	(12,498)	$ (6)			$ (3,100)	3,106
Stock Issued During Period, Shares, Restricted Stock Award, Gross					4,000
Share-based compensation expense	18,064					18,064
Treasury Stock, Shares, Acquired					(594,000)
Treasury Stock, Value, Acquired, Cost Method	(55,567)				$ (55,567)
Net Income (Loss) Attributable to Parent	95,052						95,052
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	2,714					2,714
Noncontrolling Interest, Period Increase (Decrease)	591					591
Effect of Adoption of New Accounting Principle	(3,246)						(3,246)
Temporary Equity, Accretion to Redemption Value							7,140
Net unrealized loss on derivative instruments designated and qualifying as cash flow hedges	(19,477)							(19,477)
Foreign currency translation, net of hedges	9,638							9,638
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	(2,293)				$ (573)	2,866
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures					(38,000)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(204)							(204)
Ending balance, Shares at Jun. 30, 2019			(44,080,000)	0	(13,635,000)
Ending balance, Value at Jun. 30, 2019	(131,812)		$ 615	$ 0	$ (737,447)	411,079	537,422	(79,857)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(10,043)								$ 9,638
Stock Issued During Period, Value, Restricted Stock Award, Gross	187				$ 187
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares					432,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	(92,582)	(40,906)			$ 12,518	28,388
Stock Issued During Period, Value, New Issues	28			$ 28
Stock Issued During Period, Shares, Restricted Stock Award, Gross					2,000
Share-based compensation expense	34,810					34,810
Treasury Stock, Shares, Acquired					(5,003,000)
Treasury Stock, Value, Acquired, Cost Method	(627,056)				$ (627,056)
Net Income (Loss) Attributable to Parent	83,365						83,365
Effect of Adoption of New Accounting Principle	3,143						3,143
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants	22,432					22,432
Temporary Equity, Accretion to Redemption Value							5,493
Net unrealized loss on derivative instruments designated and qualifying as cash flow hedges	(18,796)							(18,796)
Foreign currency translation, net of hedges	11,172							11,172
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	(605)				$ (712)	1,317
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures					(13,000)
Stock Issued During Period, Shares, New Issues				25,000
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(1,195)							(1,195)
Ending balance, Shares at Jun. 30, 2020			(44,080,000)	(25,000)	(18,195,000)
Ending balance, Value at Jun. 30, 2020	(407,476)		$ (615)	$ (28)	$ 1,376,496	(438,616)	(618,437)	88,676
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(8,819)								11,172
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares					30,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	(5,460)	$ (2,280)			$ (3)	2,283
Share-based compensation expense	37,226					37,226
Net Income (Loss) Attributable to Parent	(77,711)						(77,711)
Temporary Equity, Accretion to Redemption Value							3,049
Net unrealized loss on derivative instruments designated and qualifying as cash flow hedges	6,247							6,247
Foreign currency translation, net of hedges	3,765							3,765
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	(5,757)				$ 7,898	(13,655)
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures					120,000
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(336)							(336)
Ending balance, Shares at Jun. 30, 2021			(44,080,000)	(25,000)	(18,045,000)
Ending balance, Value at Jun. 30, 2021	(449,371)		$ (615)	$ (28)	$ 1,368,595	$ (459,904)	$ (537,677)	$ 79,000
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ 9,676								$ 3,765

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Operating activities
Net (loss) income	$ (74,939)	$ 83,995	$ 93,480
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	173,212	167,943	173,771
Impairment of goodwill	0	100,842	7,503
Share-based compensation expense	37,034	34,874	21,716
Impairment of long-lived assets	19,882
Deferred taxes	(10,284)	(106,864)	6,838
Loss on early extinguishment of debt	48,343	0	0
Unrealized loss (gain) on derivatives not designated as hedging instruments included in net (loss) income	17,323	7,731	(5,358)
Effect of exchange rate changes on monetary assets and liabilities denominated in non-functional currency	(7,278)	(802)	(4,364)
Other non-cash items	7,041	11,229	9,209
Changes in operating assets and liabilities:
Accounts receivable	(11,474)	26,659	(4,186)
Inventory	16,382	(18,328)	(3,627)
Prepaid expenses and other assets	(2,606)	11,946	4,475
Accounts payable	29,367	(17,547)	19,835
Accrued expenses and other liabilities	23,218	36,766	11,803
Net cash provided by operating activities	265,221	338,444	331,095
Investing activities
Purchases of property, plant and equipment	(38,524)	(50,467)	(70,563)
Proceeds from the sale of subsidiaries, net of transaction costs and cash divested	0	(1,124)	0
Business acquisitions, net of cash acquired	(53,410)	(4,272)	(289,920)
Capitalization of software and website development costs	(60,937)	(43,992)	(48,652)
Purchases of marketable securities	(203,581)	0	0
Proceeds from the sale of assets	5,696	1,644	640
(Payments of) proceeds from settlement of derivatives designated as hedging instruments	3,291	29,791	12,016
Other investing activities	(269)	1,556	(345)
Net cash used in investing activities	(354,316)	(66,864)	(420,166)
Financing activities
Proceeds from borrowings of debt	665,682	1,281,490	1,140,607
Proceeds from Term Loan B	1,149,751	0	0
Proceeds from issuance of senior notes	0	210,500	0
Proceeds from issuance of second lien notes	0	271,568	0
Proceeds from issuance of warrants	0	22,432	0
Payments of debt	(1,242,606)	(1,337,334)	(947,696)
Payments for early redemption of second lien notes	(309,000)	0	0
Payments of debt issuance costs	(11,963)	(22,570)	(2,729)
Payments of purchase consideration included in acquisition-date fair value	1,205	358	3,282
Payments of withholding taxes in connection with equity awards	(5,757)	(41,709)	(5,979)
Payments of finance lease obligations	(8,000)	(9,511)	(17,063)
Purchase of noncontrolling interests	(5,063)	0	(85,520)
Proceeds from sale of noncontrolling interest	0	0	57,046
Purchase of ordinary shares	0	(627,056)	(55,567)
Proceeds from issuance of ordinary shares	2,280	6	3,403
Distribution to noncontrolling interest	4,747	3,955	3,375
Other financing activities	(684)	(1,758)	2,144
Net cash provided by (used in) financing activities	224,128	(258,255)	81,989
Effect of exchange rate changes on cash	2,969	(3,583)	(1,866)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	138,002	9,742	(8,948)
Cash and cash equivalents at beginning of period	45,021	35,279	44,227
Cash and cash equivalents at end of period	183,023	45,021	35,279
Supplemental disclosures of cash flow information
Interest	116,977	72,906	63,940
Income taxes	27,870	13,520	26,369
Capitalization of construction costs related to financing lease obligation (1)			13,448
Property and equipment acquired under finance leases	6,996	1,605	11,871
Amounts accrued related to business acquisitions	$ 45,025	$ 2,289	$ 5,564

Commitments and Contingencies

12 Months Ended

Jun. 30, 2021

Schedule of Maturities of Long-term Debt [Table Text Block]

The required principal payments due during the next five fiscal years and thereafter under our outstanding long-term debt obligations at June 30, 2021 are as follows:


2022	$	13,330
2023	15,614
2024	15,247
2025	13,718
2026	612,527
Thereafter	1,094,420
Total	$	1,764,856

Description of the Business	12 Months Ended
Description of the Business	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Cimpress is a strategically focused group of more than a dozen businesses that specialize in mass customization, via which we deliver large volumes of individually small-sized customized orders for a broad spectrum of print, signage, photo merchandise, invitations and announcements, writing instruments, packaging, apparel and other categories. We invest in and build customer-focused, entrepreneurial mass customization businesses for the long term, which we manage in a decentralized, autonomous manner. Mass customization is a core element of the business model of each Cimpress business. We drive competitive advantage across Cimpress through a select few shared strategic capabilities that have the greatest potential to create Cimpress-wide value. We limit all other central activities to only those which absolutely must be performed centrally.

Fair Value Measurements

12 Months Ended

Jun. 30, 2021

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:


	June 30, 2021
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets


Currency forward contracts	$	1,679	$	—	$	1,679	$	—

Total assets recorded at fair value	$	1,679	$	—	$	1,679	$	—

Liabilities
Interest rate swap contracts	$	(25,193)	$	—	$	(25,193)	$	—
Cross-currency swap contracts	(9,914)		—		(9,914)		—
Currency forward contracts	(19,651)		—		(19,651)		—
Currency option contracts	(3,080)		—		(3,080)		—
Total liabilities recorded at fair value	$	(57,838)	$	—	$	(57,838)	$	—


	June 30, 2020
	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	$	4,462	$	—	$	4,462	$	—
Currency forward contracts	7,949		—		7,949		—
Currency option contracts	1,429		—		1,429		—
Total assets recorded at fair value	$	13,840	$	—	$	13,840	$	—

Liabilities
Interest rate swap contracts	$	(39,520)	$	—	$	(39,520)	$	—
Cross-currency swap contracts	(4,746)		—		(4,746)		—
Currency forward contracts	(8,519)		—		(8,519)		—
Currency option contracts	(38)		—		(38)		—
Total liabilities recorded at fair value	$	(52,823)	$	—	$	(52,823)	$	—

During the years ended June 30, 2021 and 2020, 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 June 30, 2021, 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.

As of June 30, 2021 and June 30, 2020, the carrying amounts of our cash and cash equivalents, accounts receivable, accounts payable and other current liabilities approximated their estimated fair values. As of June 30, 2021 and June 30, 2020, the carrying value of our debt, excluding debt issuance costs and debt premiums and discounts, was $1,764,856 and $1,482,177, respectively, and the fair value was $1,767,209 and $1,450,719, respectively. Our debt at June 30, 2021 includes variable-rate debt instruments indexed to LIBOR that resets periodically, as well as 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.

As of June 30, 2021 our held-to-maturity marketable securities are held at an amortized cost of $202,961 and the fair value was $202,786, and we did not hold any such securities as of June 30, 2020. The securities are valued using quoted prices for identical assets in active markets, which fall into Level 1 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.

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.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

12 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure

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 change in the fair value of the derivative is recorded in accumulated other comprehensive loss and subsequently reclassified into earnings in the period the hedged forecasted transaction affects earnings. Additionally, any ineffectiveness associated with an effective and designated hedge is recognized within accumulated other comprehensive loss.

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.

Amounts reported in accumulated other comprehensive loss related to interest rate swap contracts will be reclassified to interest expense, net as interest payments are accrued or made on our variable-rate debt. As of June 30, 2021, we estimate that $10,942 will be reclassified from accumulated other comprehensive loss to interest expense during the twelve months ending June 30, 2022. As of June 30, 2021, we had fourteen outstanding interest rate swap contracts indexed to USD LIBOR, three of which are not highly effective and are therefore not designated for hedge accounting. These hedges have varying start dates and maturity dates through April 2028.


Interest rate swap contracts outstanding:	Notional Amounts
Contracts accruing interest as of June 30, 2021	$	500,000
Contracts with a future start date	330,000
Total	$	830,000

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 June 30, 2021, we had two outstanding cross-currency swap contracts designated as cash flow hedges with a total notional amount of $120,874, both maturing during June 2024. 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 June 30, 2021, we estimate that $2,488 of income will be reclassified from accumulated other comprehensive loss to interest expense, net during the twelve months ending June 30, 2022.

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 June 30, 2021, we had four currency forward contracts designated as net investment hedges with a total notional amount of $118,203, maturing during various dates through April 2023. 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 two consolidated subsidiaries that have the Euro as their functional currency. Amounts reported in accumulated other comprehensive loss are recognized as a component of our cumulative translation adjustment.

We have elected to not apply hedge accounting for all other currency forward and option contracts. During the years ended June 30, 2021, 2020 and 2019, 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 June 30, 2021, 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 or balances denominated in Australian Dollar, British Pound, Canadian Dollar, Danish Krone, Euro, Indian Rupee, Japanese Yen, Mexican Peso, New Zealand Dollar, Norwegian Krone, Philippine Peso, Swiss Franc and Swedish Krona:

Notional Amount

Effective Date

Maturity Date

Number of Instruments

Index

$499,084

September 2019 through June 2021

Various dates through October 2024

596

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 June 30, 2021 and June 30, 2020. Our derivative asset and liability balances will fluctuate with interest rate and currency exchange rate volatility.


	June 30, 2021
	Asset Derivatives							Liability Derivatives
	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 designated as hedging instruments
Derivatives in cash flow hedging relationships
Interest rate swaps	Other current assets / other assets	$	—	$	—	$	—	Other current liabilities / other liabilities	$	(23,527)	$	176	$	(23,351)
Cross-currency swaps	Other assets	—		—		—		Other liabilities	(9,914)		—		(9,914)
Derivatives in net investment hedging relationships

Currency forward contracts	Other assets	—		—		—		Other current liabilities / other liabilities	(11,379)		—		(11,379)
Total derivatives designated as hedging instruments		$	—	$	—	$	—		$	(44,820)	$	176	$	(44,644)

Derivatives not designated as hedging instruments
Interest rate swaps	Other assets	$	—	$	—	$	—	Other liabilities	$	(1,842)	$	—	$	(1,842)
Currency forward contracts	Other current assets / other assets	1,796		(117)		1,679		Other current liabilities / other liabilities	(11,510)		3,238		(8,272)
Currency option contracts	Other current assets / other assets	—		—		—		Other current liabilities / other liabilities	(3,315)		235		(3,080)
Total derivatives not designated as hedging instruments		$	1,796	$	(117)	$	1,679		$	(16,667)	$	3,473	$	(13,194)


	June 30, 2020
	Asset Derivatives							Liability Derivatives
	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 designated as hedging instruments
Derivatives in cash flow hedging relationships
Interest rate swaps	Other current assets / other assets	$	—	$	—	$	—	Other liabilities	$	(31,161)	$	—	$	(31,161)
Cross-currency swaps	Other assets	4,462		—		4,462		Other liabilities	(4,746)		—		(4,746)
Derivatives in net investment hedging relationships
Currency forward contracts	Other assets	—		—		—		Other current liabilities / other liabilities	(6,829)		—		(6,829)
Total derivatives designated as hedging instruments		$	4,462	$	—	$	4,462		$	(42,736)	$	—	$	(42,736)

Derivatives not designated as hedging instruments
Interest rate swaps	Other assets	$	—	$	—	$	—	Other liabilities	$	(8,359)	$	—	$	(8,359)
Currency forward contracts	Other current assets / other assets	9,702		(1,753)		7,949		Other current liabilities / other liabilities	(2,136)		446		(1,690)
Currency option contracts	Other current assets / other assets	1,699		(270)		1,429		Other current liabilities / other liabilities	(38)		—		(38)
Total derivatives not designated as hedging instruments		$	11,401	$	(2,023)	$	9,378		$	(10,533)	$	446	$	(10,087)

The following table presents the effect of our derivative financial instruments designated as hedging instruments and their classification within comprehensive (loss) income for the years ended June 30, 2021, 2020 and 2019:


		Amount of Net Gain (Loss) on Derivatives Recognized in Comprehensive Income
	Year Ended June 30,
		2021		2020		2019
Derivatives in cash flow hedging relationships
Interest rate swaps		$	3,340	$	(28,259)	$	(20,400)
Cross-currency swaps		6,996		3,689		(3,009)
Derivatives in net investment hedging relationships
Cross-currency swaps		—		—		6,557
Currency forward contracts		(19,052)		21,240		14,726
Total		$	(8,716)	$	(3,330)	$	(2,126)

The following table presents reclassifications out of accumulated other comprehensive loss for the years ended June 30, 2021, 2020 and 2019:


		Amount of Net Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income						Affected line item in the Statement of Operations
	Year Ended June 30,
		2021		2020		2019
Derivatives in cash flow hedging relationships
Interest rate swaps		$	6,967	$	3,041	$	144	Interest expense, net
Cross-currency swaps		(10,950)		4,583		5,098		Other (expense) income, net
Total before income tax		(3,983)		7,624		5,242		(Loss) income before income taxes
Income tax		(106)		(1,850)		(1,310)		Income tax expense (benefit)
Total		$	(4,089)	$	5,774	$	3,932

The following table presents the adjustment to fair value recorded within the consolidated statements of operations for the years ended June 30, 2021, 2020 and 2019 for derivative instruments for which we did not elect hedge accounting and de-designated derivative financial instruments that no longer qualify as hedging instruments.


		Amount of Gain (Loss) Recognized in Net (Loss) Income						Affected line item in the Statement of Operations
	Year Ended June 30,
		2021		2020		2019
Currency contracts		$	(24,235)	$	20,882	$	24,215	Other (expense) income, net
Interest rate swaps		3,507		(318)		(721)		Other (expense) income, net
Total		$	(20,728)	$	20,564	$	23,494

Accumulated Other Comprehensive Loss

12 Months Ended

Jun. 30, 2021

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Income (Loss)

The following table presents a roll forward of amounts recognized in accumulated other comprehensive income (loss) by component, net of tax of $764, $1,709, and $5,901 for the years ended June 30, 2021, 2020 and 2019, respectively:


	Gains (losses) on cash flow hedges (1)		Losses on pension benefit obligation		Translation adjustments, net of hedges (2)		Total
Balance as of June 30, 2018	$	8,195	$	—	$	(78,009)	$	(69,814)
Other comprehensive (loss) income before reclassifications	(23,409)		(204)		9,638		(13,975)
Amounts reclassified from accumulated other comprehensive loss to net income	3,932		—		—		3,932
Net current period other comprehensive (loss) income	(19,477)		(204)		9,638		(10,043)
Balance as of June 30, 2019	(11,282)		(204)		(68,371)		(79,857)
Other comprehensive (loss) income before reclassifications	(24,570)		(1,195)		11,172		(14,593)
Amounts reclassified from accumulated other comprehensive loss to net income	5,774		—		—		5,774
Net current period other comprehensive (loss) income	(18,796)		(1,195)		11,172		(8,819)
Balance as of June 30, 2020	(30,078)		(1,399)		(57,199)		(88,676)
Other comprehensive income (loss) before reclassifications	10,336		(336)		3,765		13,765
Amounts reclassified from accumulated other comprehensive loss to net (loss) income	(4,089)		—		—		(4,089)
Net current period other comprehensive income (loss)	6,247		(336)		3,765		9,676
Balance as of June 30, 2021	$	(23,831)	$	(1,735)	$	(53,434)	$	(79,000)

________________________

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

(2) As of June 30, 2021 and June 30, 2020, the translation adjustment is inclusive of the effects of our net investment hedges, of which, unrealized gains of $1,457 and $20,509, respectively, net of tax, have been included in accumulated other comprehensive loss.

Property, Plant and Equipment, Net

12 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Property, Plant and Equipment, Net

Property, plant, and equipment, net consists of the following:


		June 30,
	Estimated useful lives	2021		2020
Land improvements	10 years	$	5,053	$	4,975
Building and building improvements (1)	10 - 30 years	191,653		186,873

Machinery and production equipment	4 - 10 years	380,013		362,341
Machinery and production equipment under finance lease	4 - 10 years	73,321		64,337
Computer software and equipment	3 - 5 years	119,742		160,728
Furniture, fixtures and office equipment	5 - 7 years	38,357		47,823
Leasehold improvements	Shorter of lease term or expected life of the asset	64,060		73,072
Construction in progress		7,242		10,752
		879,441		910,901
Less accumulated depreciation, inclusive of assets under finance lease		(583,752)		(604,061)
		295,689		306,840
Land		32,990		31,819
Property, plant, and equipment, net		$	328,679	$	338,659

_________________

(1) Building and building improvements assets as of June 30, 2021, increased by $15,860 as compared to the prior year due to the change in classification of one of our leased facilities from an operating lease to a finance lease due to our intention to exercise the existing purchase option. Refer to Note 16 for further details. This increase was offset by our building and building improvements depreciation expense recorded during the year.

Depreciation expense, inclusive of assets under finance leases, totaled $71,057, $74,665 and $84,558 for the years ended June 30 2021, 2020, and 2019, respectively.

Business Combinations

12 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Business Combination Disclosure

Acquisition of 99designs, Inc.

On October 1, 2020, we acquired 99designs, Inc. and its subsidiaries ("99designs"), a global creative platform for graphic design. We acquired all outstanding shares of the company for a purchase price of $90,000, subject to a post-closing adjustment based on acquired cash, debt, and working capital as of the closing date. We paid $45,000 in cash at closing and will pay the remaining purchase consideration, including the post-closing adjustment, on February 15, 2022. The acquisition is managed within our Vistaprint business and provides a global platform that connects designers and clients, making it easier for small businesses to access both professional design services and marketing products in one place. We expect the synergies achieved through integration with the 99designs designer network to provide significant benefits to our Vistaprint business.

The table below details the consideration transferred to acquire 99designs:


Cash consideration (paid at closing)	$	45,000
Fair value of deferred payment	43,381
Final post closing adjustment	310
Total purchase price	$	88,691

We recognized the assets and liabilities on the basis of their fair values at the date of the acquisition with any excess of the purchase price paid over the fair value of the net assets recorded as goodwill, which is primarily attributable to the synergies that we expect to achieve through the acquisition. The goodwill balance has been attributed to the Vistaprint reporting unit and a portion of such goodwill balance is deductible for tax purposes. Additionally, we identified and valued 99designs intangible assets which include their trade name, designer network, and developed technology.

The fair value of the assets acquired and liabilities assumed was:

Amount

Weighted Average Useful Life in Years

Tangible assets acquired and liabilities assumed:

Cash and cash equivalents

8,603

n/a

Accounts receivable, net

494

n/a

Prepaid expenses and other current assets

787

n/a

Property, plant and equipment, net

n/a

Other assets

142

n/a

Accounts payable

(220)

n/a

Accrued expenses

(6,299)

n/a

Deferred revenue

(5,806)

n/a

Other liabilities

(625)

n/a

Identifiable intangible assets:

Trade name

1,550

2 years

Developed technology

13,400

3 years

Designer network

5,800

7 years

Goodwill

70,792

n/a

Total purchase price

88,691

n/a

99designs has been included in our consolidated financial statements starting on its acquisition date. The revenue and earnings of 99designs included in our consolidated financial statements for the year ended June 30, 2021 are not material, and therefore no proforma financial information is presented. We used our now amended senior secured credit facility to finance the acquisition. In connection with the acquisition, we incurred $1,183 in general and administrative expenses during the year ended June 30, 2021, primarily related to legal, financial, and other professional services.

Other Acquisition

On April 23, 2021 we completed a tuck-in acquisition of a fast growing company with an attractive product capability as part of our BuildASign business, acquiring approximately 81% of the company's shares for the total consideration of $18,535. We recognized the assets, liabilities and noncontrolling interest on the basis of their fair values at the date of the acquisition, resulting in goodwill of $14,208 which is not deductible for tax purposes. This acquisition will be presented within our All Other Businesses segment. The revenue and earnings included in our consolidated financial statements for the year ended June 30, 2021 are not material. We utilized proceeds from our now amended senior secured credit facility to finance the acquisition.

Goodwill

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

The carrying amount of goodwill by reportable segment as of June 30, 2021 and June 30, 2020 was as follows:


	Vistaprint		PrintBrothers		The Print Group		All Other Businesses		Total
Balance as of June 30, 2019	$	145,961	$	124,089	$	198,363	$	216,033	$	718,880
Acquisitions (1)	—		6,879		—		—		6,879

Impairment (2)	—		—		(40,391)		(26,017)		(100,842)
Adjustments (3)	3,919		—		—		(3,919)		—
Effect of currency translation adjustments (4)	966		(1,204)		(2,775)		—		(3,013)
Balance as of June 30, 2020	$	150,846	$	129,764	$	155,197	$	186,097	$	621,904
Acquisitions (1)	70,792		—		—		14,208		85,000



Effect of currency translation adjustments (4)	3,509		7,543		9,023		—		20,075
Balance as of June 30, 2021	$	225,147	$	137,307	$	164,220	$	200,305	$	726,979

_________________

(1) In fiscal year 2021, we acquired 99designs, which is included in our Vistaprint reportable segment, and an immaterial acquisition included within our All Other Businesses reportable segment. In fiscal year 2020, we recognized goodwill related to an immaterial acquisition within our PrintBrothers reportable segment. Refer to Note 7 for additional information.

(2) During the third quarter of fiscal year 2020 we recognized an impairment of goodwill; please refer below for further detail.

(3) Due to changes in the composition of our reportable segments during the first quarter of fiscal year 2020, we reclassified the goodwill associated with our Vistaprint Corporate Solutions reporting unit from All Other Businesses to our Vistaprint reportable segment.

(4) Related to goodwill held by subsidiaries whose functional currency is not the U.S. dollar.

Impairment Review

Fiscal Year 2021 Annual Impairment Test

Our goodwill accounting policy establishes an annual goodwill impairment test date of May 31. As described below, we identified triggering events during the third quarter of fiscal year 2021 that required an interim period impairment analysis for three of our reporting units in response to disruptions associated with the prolonged impacts of the COVID-19 pandemic. For our annual impairment assessment, we performed a qualitative test for all nine reporting units with goodwill, which focused on comparing key performance indicators between the pandemic-related financial models used in our quantitative test during the prior year assessment, to the actual performance through our annual test date. For the three reporting units that were tested based on the third quarter triggering event, we evaluated any new information since March 2021 and assessed if any facts and circumstances have changed since that assessment that would provide any indication of impairment, and noted no such indicators.

For each of our remaining six reporting units, we compared our current performance and projections as compared to the prior year models. We assessed key financial metrics as compared to the prior year projections in addition to assessing any changes to long term forecasts versus the prior year. Our goodwill analysis requires significant judgment, including the identification of reporting units and the amount and timing of expected future cash flows. While we believe our assumptions are reasonable, actual results could differ from our projections. Lastly, we considered macroeconomic factors, as well as the headroom between our estimated fair value and carrying value from our prior year impairment analysis. Based on the analysis performed, we concluded that there was no indication of impairment for any of these reporting units.

Q3 Fiscal Year 2021 Triggering Event

During the third quarter of fiscal year 2021, we evaluated whether any triggering events exist across each of our reporting units to determine whether an impairment analysis is necessary. We identified triggering events for our Druck, Easyflyer and Exaprint reporting units, due in part to the reemergence of new pandemic-related lockdowns and restrictions in certain European countries which has resulted in a more prolonged reduction to cash flows when compared to the cash flows forecasted in our most recent impairment analysis that was performed during the third quarter of fiscal 2020.

As required, prior to performing the quantitative goodwill impairment test, we first evaluated the recoverability of long-lived assets as the change in expected long-term cash flows is indicative of a potential impairment. We performed the recoverability test using undiscounted cash flows for the asset groups of all three reporting units and concluded that no impairment of long-lived assets exists.

After performing the long-lived assets recoverability test, we performed a quantitative assessment of goodwill of the three reporting units and compared the carrying value to the estimated fair value. For each reporting unit, the estimated fair value of the reporting unit exceeded the related carrying value and we concluded that no impairment exists. We used the income approach, specifically the discounted cash flow method, to derive the fair value. This approach calculates fair value by estimating the after-tax cash flows attributable to a reporting unit and then discounting the after-tax cash flows to a present value using a risk-adjusted discount rate. We selected this method as being the most meaningful in preparing our goodwill assessment as we believe the income approach most appropriately measures our income producing assets. We considered using the market approach but concluded it was not appropriate in valuing these particular reporting units given the lack of relevant market comparisons available.

The cash flow projections in the fair value analysis are considered Level 3 inputs, and consist of management's estimates of revenue growth rates and operating margins, taking into consideration historical results, as well as industry and market conditions. The discount rate used in the fair value analysis is based on a weighted average cost of capital.

Although some of our businesses are experiencing prolonged impacts from the pandemic that we expect will have a negative impact on near-term cash flows, we believe that these negative impacts are temporary. We did not identify triggering events for the reporting units that are performing better than previously estimated or maintained significant headroom in our most recent analysis.

Fiscal Year 2020

During the third quarter of fiscal year 2020, nearly all of our businesses had experienced significant declines in revenue during the month of March, due to the disruptions associated with the COVID-19 pandemic. As a result, we concluded that a triggering event existed for all ten reporting units with goodwill, which required us to perform an impairment test in the current quarter. We estimated the near-term financial impacts of this economic disruption and utilized different scenarios that evaluate outcomes that would indicate more or less severe demand declines, as well as different time horizons for the post-pandemic recovery period.

For seven of our reporting units, a significant level of headroom existed between the estimated fair value and carrying value of the reporting units at our May 31, 2019 test date, and significant headroom remained after considering the deterioration in cash flow due to COVID-19 or the reporting unit was recently acquired, resulting in no indication of impairment. For three of our reporting units, we identified triggering events that extend beyond the near-term impacts of the pandemic, which include reductions to the long-term profitability outlooks for our Exaprint, National Pen and VIDA reporting units. As a result of the considerations noted, we concluded it was more likely than not that the fair value of each of these three reporting units are below each of their respective carrying amount.

Our goodwill impairment test resulted in impairment charges to our Exaprint reporting unit, included within The Print Group reportable segment, the National Pen reporting unit, and our VIDA reporting unit, included within our All Other Business reportable segment. Based on the goodwill impairment test performed, we recognized the following impairment charges during the three months ended March 31, 2020:

•A partial impairment of the goodwill of our Exaprint reporting unit of $40,391

•A full impairment of the goodwill of our National Pen reporting unit of $34,434

•A full impairment of the goodwill of our VIDA reporting unit of $26,017

Acquired Intangible Assets


	June 30, 2021						June 30, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade name	$	152,347	$	(59,432)	$	92,915	$	144,168	$	(45,570)	$	98,598
Developed technology	99,905		(71,255)		28,650		84,171		(56,763)		27,408
Customer relationships	199,294		(152,410)		46,884		190,329		(123,857)		66,472
Customer network and other	22,301		(14,431)		7,870		15,847		(11,696)		4,151
Print network	26,182		(15,757)		10,425		24,743		(12,144)		12,599
Total intangible assets	$	500,029	$	(313,285)	$	186,744	$	459,258	$	(250,030)	$	209,228

Acquired intangible assets amortization expense for the years ended June 30 2021, 2020 and 2019 was $53,818, $51,786 and $53,256 respectively. Estimated intangible assets amortization expense for each of the five succeeding fiscal years and thereafter is as follows:



2022	$	50,749
2023	41,425
2024	27,263
2025	15,103
2026	10,827
Thereafter	41,377
	$	186,744

Business Combinations

12 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Business Combination Disclosure

Acquisition of 99designs, Inc.

The table below details the consideration transferred to acquire 99designs:


Cash consideration (paid at closing)	$	45,000
Fair value of deferred payment	43,381
Final post closing adjustment	310
Total purchase price	$	88,691

The fair value of the assets acquired and liabilities assumed was:

Amount

Weighted Average Useful Life in Years

Tangible assets acquired and liabilities assumed:

Cash and cash equivalents

8,603

n/a

Accounts receivable, net

494

n/a

Prepaid expenses and other current assets

787

n/a

Property, plant and equipment, net

n/a

Other assets

142

n/a

Accounts payable

(220)

n/a

Accrued expenses

(6,299)

n/a

Deferred revenue

(5,806)

n/a

Other liabilities

(625)

n/a

Identifiable intangible assets:

Trade name

1,550

2 years

Developed technology

13,400

3 years

Designer network

5,800

7 years

Goodwill

70,792

n/a

Total purchase price

88,691

n/a

Other Acquisition

Other Balance Sheet Components

12 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

Other Balance Sheet Components

Accrued expenses included the following:


	June 30, 2021		June 30, 2020
Compensation costs	$	73,861	$	67,307
Income and indirect taxes	46,074		53,161
Advertising costs (1)	35,093		14,746
Shipping costs	9,401		5,080
Production costs	6,881		7,012
Sales returns	5,636		5,166
Professional fees	4,210		3,452
Interest payable (2)	2,399		8,359
Purchases of property, plant and equipment	1,110		1,685
Other (3)	62,848		44,796
Total accrued expenses	$	247,513	$	210,764

_________________

(1) The increase in advertising costs is primarily due to expanded return thresholds for performance advertising channels in our Vistaprint business as compared to the fourth quarter of fiscal 2020, in addition to investment in upper-funnel advertising.

(2) The decrease in interest payable is due to the redemption of our 12% second lien notes during the fourth quarter of fiscal year 2021. Refer to Note 10 for additional details.

(3) The increase in other accrued expenses is due to an increase in accrued expenses for third-party cloud computing as compared to fiscal year 2020.

Other current liabilities included the following:


	June 30, 2021		June 30, 2020
Current portion of finance lease obligations (1)	$	32,314	$	8,055
Short-term derivative liabilities	20,530		3,521


Other (2)	50,671		1,692
Total other current liabilities	$	103,515	$	13,268

_____________________

(1) The current portion of finance lease obligations as of June 30, 2021, increased by $23,959 as compared to the prior year due to the change in classification of one of our leased facilities from an operating lease to a finance lease due to our intention to exercise the existing purchase option. Refer to Note 16 for further details.

(2) The increase in other current liabilities is driven by the deferred payment related to the 99designs acquisition totaling $44,423 due in February 2022. Refer to Note 7 for additional details.

Other liabilities included the following:


	June 30, 2021		June 30, 2020
Long-term finance lease obligations	$	18,528	$	18,617
Long-term derivative liabilities	41,074		51,800


Other	36,808		17,770
Total other liabilities	$	96,410	$	88,187

Debt

12 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]


	June 30, 2021		June 30, 2020
7.0% Senior notes due 2026	$	600,000	$	600,000
Senior secured credit facility	1,152,021		570,483
12.0% Senior secured notes due 2025	—		300,000
Other	12,835		11,694
Debt issuance costs and debt premiums (discounts)	(22,450)		(48,587)
Total debt outstanding, net	1,742,406		1,433,590
Less: short-term debt (1)	9,895		17,933
Long-term debt	$	1,732,511	$	1,415,657

_____________________

(1) Balances as of June 30, 2021 and June 30, 2020 are inclusive of short-term debt issuance costs, debt premiums and discounts of $3,435 and $10,362, respectively.

Our Debt

Our various debt arrangements described below contain customary representations, warranties and events of default. As of June 30, 2021, we were in compliance with all covenants under the Restated Credit Agreement and the indenture governing our 2026 Notes.

Senior Secured Credit Facility

On May 17, 2021, we entered into an amended and restated senior secured credit agreement ("Restated Credit Agreement") consisting of the following:

•A senior secured Term Loan B with a maturity date of May 17, 2028 (the “Term Loan B”), consisting of:

◦a $795,000 tranche that bears interest at LIBOR (with a LIBOR floor of 0.50%) plus 3.50%, and

◦a €300,000 EUR tranche that bears interest at EURIBOR (with a EURIBOR floor of 0%) plus 3.50%; and

•A $250,000 senior secured revolving credit facility with a maturity date of May 17, 2026 (the “Revolving Credit Facility”). Borrowings under the Revolving Credit Facility bear interest at LIBOR (with a LIBOR floor

of 0%) plus 2.50% to 3.00% depending on the Company’s First Lien Leverage Ratio, a net leverage calculation, as defined in the Restated Credit Agreement.

We utilized the proceeds from the Term Loan B to redeem all of the $300,000 principal of our Second Lien Notes and to repay amounts under our previous credit facility including the $150,000 Term Loan A and amounts drawn under our revolving credit facility due in 2024.

The Restated Credit Agreement contains covenants that restrict or limit certain activities and transactions by Cimpress and our subsidiaries, including, but not limited to, the incurrence of additional indebtedness and liens; certain fundamental organizational changes; asset sales; certain intercompany activities; and certain investments and restricted payments, including purchases of the Company’s ordinary shares and payment of dividends. In addition, if any loans made under the Revolving Credit Facility are outstanding on the last day of any fiscal quarter, then we are subject to a financial maintenance covenant that the First Lien Leverage Ratio calculated as of the last day of such quarter does not exceed 3.25 to 1.00.

As of June 30, 2021, we have borrowings under the Restated Credit Agreement of $1,152,021 consisting of the Term Loan B, which amortizes over the loan period, with a final maturity date of May 17, 2028. We have no outstanding borrowings under our Revolving Credit Facility as of June 30, 2021.

As of June 30, 2021, the weighted-average interest rate on outstanding borrowings under the Restated Credit Agreement was 4.66%, inclusive of interest rate swap rates. We are also required to pay a commitment fee on unused balances of 0.35% to 0.45% depending on our First Lien Leverage Ratio. We have pledged the assets and/or share capital of a number of our subsidiaries as collateral for our debt as of June 30, 2021.

Second Lien Notes and Warrants

We utilized the proceeds from our Restated Credit Agreement to pay down the $300,000 in aggregate principal of 12% Senior Secured Notes due 2025 (the "Second Lien Notes"). The warrants we issued in conjunction with the Second Lien Notes are detachable and therefore will remain. The 7-year warrants allow the holders to purchase 1,055,377 ordinary shares of Cimpress, representing approximately 3.875% of our outstanding diluted ordinary shares at the time of issuance. Refer to Note 11 for additional details.

Senior Unsecured Notes

We have issued $600,000 in aggregate principal of 7.0% Senior Notes due 2026 (the "2026 Notes"), which are unsecured. At any time on or after June 15, 2021, we may redeem some or all of the 2026 Notes at the redemption prices specified in the indenture that governs the 2026 Notes, plus accrued and unpaid interest to, but not including, the redemption date. As of June 30, 2021, we have not redeemed any of the 2026 Notes.

Debt Issuance Costs

During the years ended June 30 2021 and 2020, we capitalized debt issuance costs related to the Restated Credit Agreement, issuance of additional 2026 Notes, and issuance of Second Lien Notes of $12,200 and $23,208, respectively.

Amortization expense and the write-off of costs related to debt amendments and modifications are included in interest expense, net in the consolidated statements of operations and amortized over the term of the related instrument. For the years ended June 30, 2021, 2020 and 2019, we amortized $5,757, $3,240, and $2,367, respectively. We wrote off $17,072 in unamortized debt issuance costs related to the former credit facility and Second Lien Notes which are recognized in loss on extinguishment of debt. As part of the transaction we capitalized $10,560 of third-party and lender fees associated with the issuance of the Term Loan B which will be amortized over the seven year term of the loan and $313 of fees associated with the modification of the revolver, due to the reduction in commitment, which will be amortized over the five year term of the revolver.

Unamortized debt issuance costs and debt premiums (discounts) were $22,450 and $48,587 as of June 30, 2021 and 2020, respectively.

Loss on Extinguishment

Due to our entering into the Restated Credit Agreement in May 2021 and redemption of our Second Lien Notes, we recorded a loss on extinguishment of $48,343 which was presented separately in the consolidated statements of operations as part of loss on early extinguishment of debt. This includes a loss of $39,400 for the redemption of our Second Lien Notes, which was impacted by a lower carrying value due in part to the allocation of value to the warrants which remain outstanding, as well as the early redemption fee of $9,000 that was paid upon redemption.

Other Debt

Other debt consists primarily of term loans acquired through our various acquisitions or used to fund certain capital investments. As of June 30, 2021 and June 30, 2020, we had $12,835 and $11,694, respectively, outstanding for those obligations that are payable through January 2026.

Employees' Savings Plan	12 Months Ended
Employees' Savings Plan	Jun. 30, 2021
Retirement Benefit Plans [Abstract]
Compensation and Employee Benefit Plans [Text Block]	Employees' Savings Plans Defined contribution plans We maintain certain government-mandated and defined contribution plans throughout the world. Our most significant defined contribution retirement plans are in the U.S. and comply with Section 401(k) of the Internal Revenue Code. We offer eligible employees in the U.S. the opportunity to participate in one of these plans and match most employees' eligible contributions at various rates subject to service vesting as specified in each of the related plan documents. This matching program was temporarily suspended from March 2020 through December 31, 2020 and was reinstated on January 1, 2021. We expensed $12,228, $10,710 and $11,401 for our government-mandated and defined contribution plans in the years ended June 30, 2021, 2020 and 2019, respectively. Defined benefit plan We currently have a defined benefit plan that covers substantially all of our employees in Switzerland. Our Swiss plan is a government-mandated retirement fund with benefits generally earned based on years of service and compensation during active employment; however, the level of benefits varies within the plan. Eligibility is determined in accordance with local statutory requirements. Under this plan, both we and certain of our employees with annual earnings in excess of government determined amounts are required to make contributions into a fund managed by an independent investment fiduciary. Employer contributions must be in an amount at least equal to the employee’s contribution. Minimum employee contributions are based on the respective employee’s age, salary, and gender. As of June 30 2021 and 2020, the plan had an unfunded net pension obligation of approximately $2,883, and $2,743, respectively, and plan assets which totaled approximately $4,128 and $3,403, respectively. For the years ended June 30, 2021, 2020 and 2019 we recognized expense totaling $667, $399 and $424, respectively, related to our Swiss plan.

Shareholders' Equity

12 Months Ended

Jun. 30, 2021

Shareholders' Equity [Abstract]

Stockholders' Equity, Policy [Policy Text Block]

Shareholders' Equity (Deficit)

Treasury shares

On November 25, 2019, we announced that our Board had approved a new share repurchase program under which we may repurchase up to 5,500,000 of our issued and outstanding ordinary shares on the open market (including block trades), through privately negotiated transactions, or in one or more self-tender offers. This repurchase program expired on May 22, 2021, and during the year ended June 30, 2021 we did not repurchase any shares under this program.

Warrants

In conjunction with our issuance of the Second Lien Notes in fiscal year 2020, we also issued 7-year warrants, to purchase 1,055,377 ordinary shares of Cimpress, representing approximately 3.875% of our outstanding diluted ordinary shares. The warrants are accounted for as equity, as they are redeemable only in our own shares, with an exercise price of $60 per share. The warrants may be exercised by cash payment or through cashless exercise by the surrender of warrant shares having a value equal to the exercise price of the portion of the warrant being exercised.

The fair value used for the warrants in this allocation was calculated using the Monte Carlo valuation model. The valuation of the notes and warrants resulted in a carrying value allocated to the warrants of $22,432, which, in addition to be being accounted for as an equity instrument recorded in additional paid in capital, was included as a discount to the Second Lien Notes. As of June 30, 2021 the warrants remain outstanding.

Share-based awards

On November 25, 2020, our shareholders approved our 2020 Equity Incentive Plan, or the 2020 Plan. Upon approval, we ceased granting any new awards under any of our prior equity plans that had shares available for future grant, consisting of our 2016 Performance Equity Plan, 2011 Equity Incentive Plan, and 2005 Non-Employee Directors' Share Option Plan. We will make future equity awards under the 2020 Plan. The maximum number of ordinary shares to be issued under the 2020 Plan is 3,500,000 plus an additional number of ordinary shares equal to the number of PSUs currently outstanding under the 2016 Performance Equity Plan that expire, terminate or are otherwise surrendered, canceled or forfeited. The 2020 Plan allows us to grant share options, share appreciation rights, restricted shares, restricted share units, other share-based awards, and dividend equivalent rights to our employees, officers, non-employee directors, consultants, and advisors.

As noted above, all future awards will be granted under our 2020 Plan. Our 2016 Performance Equity Plan previously allowed us to grant PSUs to our employees, officers, non-employee directors, consultants, and advisors. The 2011 Equity Incentive Plan previously allowed us to grant share options, share appreciation rights, restricted shares, restricted share units and other awards based on our ordinary shares to our employees, officers, non-employee directors, consultants and advisors. Our 2005 Non-Employee Directors’ Share Option Plan previously allowed us to grant share options to our non-employee directors upon initial appointment as a director and annually thereafter in connection with our annual general meeting of shareholders if they continued to serve as a director at such time.

As of June 30, 2021, 2,710,926 ordinary shares were available for future awards under our 2020 Plan. For PSUs, we assumed that we would issue ordinary shares equal to 250% of the outstanding PSUs, which is the maximum potential share issuance. Treasury shares have historically been used in fulfillment of our share-based awards.

Performance share units

PSU awards entitle the recipient to receive Cimpress ordinary shares between 0% and 250% of the number of units, based upon continued service to Cimpress and the achievement of a compounded annual growth rate target based on Cimpress' three-year moving average share price. Awards with a grant date prior to fiscal year 2020 and all awards granted to our Chief Executive Officer and Board of Directors will be assessed annually in years 6 - 10 following the grant date and awards with a grant date in or after fiscal year 2020 (other than to the CEO and Board) will be assessed annually in years 4 - 8 following the grant date. The fair value of the PSUs is based on a Monte Carlo simulation, and the resulting expense is recognized on an accelerated basis over the requisite service period.

A summary of our PSU activity and related information for the fiscal year ended June 30, 2021 is as follows:


	PSUs	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at the beginning of the period	1,034,197	$	133.89
Granted	228,132	129.25
Vested and distributed	—	—
Forfeited	(103,613)	117.40
Outstanding at the end of the period	1,158,716	$	134.45	$	125,616

The weighted average fair value of PSUs granted during the fiscal years ended June 30, 2021, 2020, and 2019 was $129.25, $142.90, and $176.16, respectively. The total intrinsic value of PSUs outstanding at the fiscal years ended June 30, 2021, 2020, and 2019 was $125,616, $78,951 and $74,688, respectively. As of June 30, 2021 the number of shares subject to PSUs included in the table above assumes the issuance of one share for each PSU, but based on actual performance that amount delivered can range from zero shares to a maximum of 2,896,790 shares.

Restricted share units

The fair value of an RSU award is equal to the fair market value of our ordinary shares on the date of grant and the expense is recognized on a straight-line basis over the requisite service period. RSUs generally vest over 4 years.

A summary of our RSU activity and related information for the fiscal year ended June 30, 2021 is as follows:


	RSUs	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Unvested at the beginning of the period	177,233	$	47.06
Granted	453,916	93.64
Vested and distributed	(180,494)	47.92
Forfeited	(16,266)	96.03
Unvested at the end of the period	434,389	$	93.54	$	47,092

The weighted average fair value of RSUs granted during the fiscal years ended June 30, 2021 and 2020 was $93.64 and $46.94, respectively. We did not grant any RSUs during the year ended June 30, 2019. The total intrinsic value of RSUs vested during the fiscal years ended June 30, 2021, 2020, 2019 was $17,231, $1,905 and $6,749, respectively.

Share options

We have previously granted options to purchase ordinary shares at prices that are at least equal to the fair market value of the shares on the date the option is granted and have a contractual term of approximately eight to ten years. Options generally vested over 3 years for non-employee directors and over 4 years for employees.

The fair value of each option award subject only to service period vesting is estimated on the date of grant using the Black-Scholes option pricing model and is recognized as expense on a straight-line basis over the requisite service period. Use of a valuation model requires management to make certain assumptions with respect to inputs. The expected volatility assumption is based upon historical volatility of our share price. The expected term assumption is based on the contractual and vesting term of the option and historical experience. The risk-free interest rate is based on the U.S. Treasury yield curve with a maturity equal to the expected life assumed at the grant date. We value share options with a market condition using a lattice model with compensation expense recorded on an accelerated basis over the requisite service period.

We did not grant any share options in fiscal year 2021. A summary of our share option activity and related information for the year ended June 30, 2021 is as follows:


	Shares Pursuant to Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at the beginning of the period	110,538	$	55.27	1.0
Granted	—	—
Exercised	(105,240)	54.02
Forfeited/expired	—	—
Outstanding at the end of the period	5,298	80.01		3.8	$	150
Exercisable at the end of the period	5,298	$	80.01	3.8	$	150

The intrinsic value in the table above represents the total pre-tax amount, net of exercise price, which would have been received if all option holders exercised in-the-money options on June 30, 2021. The total intrinsic value of options exercised during the fiscal years ended June 30, 2021, 2020, and 2019 was $5,460, $92,582 and $12,498, respectively.

Share-based compensation

Total share-based compensation costs were $37,034, $34,874 and $21,716 for the years ended June 30, 2021, 2020, and 2019, respectively, and we elected to recognize the impact of forfeitures as they occur. Share-based compensation costs capitalized as part of software and website development costs were $1,338, $1,157 and $1,141 for the years ended June 30 2021, 2020, and 2019, respectively. As of June 30, 2021, there was $61,127 of total unrecognized compensation cost related to non-vested, share-based compensation arrangements. This cost is expected to be recognized over a weighted average period of 2.5 years.

Shareholders' Equity and Share-based Payments

Shareholders' Equity (Deficit)

Treasury shares

Warrants

Share-based awards

Performance share units

A summary of our PSU activity and related information for the fiscal year ended June 30, 2021 is as follows:


	PSUs	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at the beginning of the period	1,034,197	$	133.89
Granted	228,132	129.25
Vested and distributed	—	—
Forfeited	(103,613)	117.40
Outstanding at the end of the period	1,158,716	$	134.45	$	125,616

Restricted share units

A summary of our RSU activity and related information for the fiscal year ended June 30, 2021 is as follows:


	RSUs	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Unvested at the beginning of the period	177,233	$	47.06
Granted	453,916	93.64
Vested and distributed	(180,494)	47.92
Forfeited	(16,266)	96.03
Unvested at the end of the period	434,389	$	93.54	$	47,092

Share options

We did not grant any share options in fiscal year 2021. A summary of our share option activity and related information for the year ended June 30, 2021 is as follows:


	Shares Pursuant to Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at the beginning of the period	110,538	$	55.27	1.0
Granted	—	—
Exercised	(105,240)	54.02
Forfeited/expired	—	—
Outstanding at the end of the period	5,298	80.01		3.8	$	150
Exercisable at the end of the period	5,298	$	80.01	3.8	$	150

Share-based compensation

Income Taxes

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Income Taxes

The following is a summary of our income (loss) before income taxes by geography:


	Year Ended June 30,
	2021		2020		2019
U.S.	$	2,546	$	(58,765)	$	(10,879)
Non-U.S.	(58,582)		61,768		137,791
Total	$	(56,036)	$	3,003	$	126,912

The components of the provision (benefit) for income taxes are as follows:


	Year Ended June 30,
	2021		2020		2019
Current:
U.S. Federal	$	(93)	$	(16,269)	$	84
U.S. State	546		213		1,130
Non-U.S.	28,205		22,361		26,862
Total current	28,658		6,305		28,076
Deferred:
U.S. Federal	(1,573)		12,980		(1,347)
U.S. State	(31)		3,213		(183)
Non-U.S.	(8,151)		(103,490)		6,886
Total deferred	(9,755)		(87,297)		5,356
Total	$	18,903	$	(80,992)	$	33,432

The following is a reconciliation of the standard U.S. federal statutory tax rate and our effective tax rate:


	Year Ended June 30,
	2021		2020		2019
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal effect	3.6		(130.1)		(1.0)
Tax rate differential on non-U.S. earnings	(21.8)		(408.4)		(7.2)
Swiss tax reform	—		(3,779.0)		—
Compensation related items	0.2		(420.7)		0.7
U.S. tax reform	—		(372.6)		3.7
Goodwill impairment	—		759.1		2.0
Change in valuation allowance	(30.8)		1,277.5		(1.7)
Irish foreign tax credit	10.0		262.3		(19.1)
Tax on repatriated earnings	(4.4)		154.1		8.0
Gain/loss on sale of subsidiary	—		(189.2)		—
Notional interest deduction (Italy)	1.6		(47.9)		(0.8)
Patent box (Italy)	—		(24.2)		(3.4)
Tax credits and incentives	4.0		(88.3)		(3.6)
Non-US tax rate changes	1.4		81.7		0.1
Business and withholding taxes	(0.4)		28.7		0.8
Uncertain tax positions	(1.1)		28.8		(0.1)
Nondeductible interest expense	(19.4)		157.4		1.3
Other non-deductible expenses	0.6		47.5		1.5
Tax on unremitted earnings	(1.0)		31.4		8.0
Change in tax residence	—		—		20.5
Changes to variable interest entities	—		—		(2.5)
Changes to derivative instruments	1.8		—		4.5
Other	1.0		(86.1)		(6.4)
Effective income tax rate	(33.7)	%	(2,697.0)	%	26.3	%

For the year ended June 30, 2021, our effective tax rate was below our U.S. federal statutory tax rate primarily due to non-deductible interest expense and losses in certain jurisdictions for which we cannot recognize a tax benefit. The jurisdictions that have the most significant impact to our non-U.S. tax provision include Australia, Canada, France, Germany, India, Ireland, Italy, the Netherlands, Spain and Switzerland. The applicable tax rates in these jurisdictions range from 10% to 30%. The total tax rate benefit from operating in non-U.S. jurisdictions is included in the line “Tax rate differential on non-U.S. earnings” in the above tax rate reconciliation table.

For the year ended June 30, 2021, our effective tax rate was (33.7)% as compared to the prior year effective tax rate of (2,697.0)%. The increase in our effective tax rate as compared to the prior year is primarily due to Swiss Tax Reform benefits of $113,482 in the year ended June 30, 2020. Also, in addition to decreased pre-tax profits and a less favorable mix of earnings year over year, we recognized tax benefits of $2,143 related to excess tax benefits from share based compensation, as compared to $15,705 in fiscal year 2020. During the year ended June 30, 2021 we recognized a tax benefit of $6,700 for the release of our valuation allowance in India as a result of increased profitability. Additionally in fiscal year 2020, we recognized tax benefits of $11,188 for the re-measurement of U.S. tax losses that were carried back to tax years with higher U.S. federal tax rates under the US CARES Act and tax expense of $41,900 to record a full valuation allowance against our U.S. deferred tax assets and a portion for our Irish deferred tax assets. The change in judgment to no longer recognize the deferred tax assets was driven by decreased profits due to impacts of the COVID-19 pandemic and goodwill impairments. Our fiscal year 2020 effective tax rate was lower than fiscal year 2019 primarily due to Swiss Tax Reform.

On October 25, 2019, the canton of Zurich enacted tax law changes by publishing the results of its referendum to adopt the Federal Act on Tax Reform and AHV Financing (TRAF), which we refer to as Swiss Tax Reform. Swiss Tax Reform was effective as of January 1, 2020 and included the abolishment of various favorable

federal and cantonal tax regimes. Swiss Tax Reform provided transitional relief measures for companies that lost the tax benefit of a ruling, including a "step-up" for amortizable goodwill, equal to the amount of future tax benefit they would have received under their existing ruling, subject to certain limitations. We recognized a tax benefit of $113,482 to establish new Swiss deferred tax assets related to transitional relief measures and to remeasure our existing Swiss deferred tax assets and liabilities. We do not expect to realize the majority of this benefit until fiscal year 2025 through fiscal year 2030.

Significant components of our deferred income tax assets and liabilities consisted of the following at June 30, 2021 and 2020:


	June 30, 2021		June 30, 2020
Deferred tax assets:
Swiss tax reform amortizable goodwill	$	124,372	$	127,965
Net operating loss carryforwards	73,534		62,374
Leases	31,363		33,078
Depreciation and amortization	9,136		4,308
Accrued expenses	9,538		6,253
Share-based compensation	11,192		9,482
Credit and other carryforwards	39,109		29,216
Derivative financial instruments	8,226		6,739
Other	5,774		7,551
Subtotal	312,244		286,966
Valuation allowance	(113,917)		(91,575)
Total deferred tax assets	198,327		195,391
Deferred tax liabilities:
Depreciation and amortization	(28,187)		(41,017)

Leases	(24,920)		(30,433)
Investment in flow-through entity	(5,003)		(3,550)
Tax on unremitted earnings	(6,877)		(6,203)

Italy tax suspension reserve	(4,528)		—
Other	(6,627)		(4,502)
Total deferred tax liabilities	(76,142)		(85,705)
Net deferred tax assets	$	122,185	$	109,686

In assessing the realizability of deferred tax assets, we consider whether it is more likely than not that some or all of the deferred tax assets will not be realized. The increase in the valuation allowance from the prior year relates primarily to losses in certain jurisdictions (mainly the United States, Ireland, Brazil, China, Japan and France) for which management has determined we cannot recognize the related deferred tax assets based on trailing three-year pre-tax profit or loss adjusted for permanent book versus tax differences. Also, Cimpress plc generated $5,587 of Irish foreign tax credit carryforwards which do not expire, but for which management has determined it is more likely than not that these will not be utilized upon future repatriation. Other increases in our valuation allowance include increased U.S. research and development credits of $3,209 and acquired net operating losses of $5,424. The increase in valuation allowance was offset by the release of Indian valuation allowance of $6,700.

We have recorded a full valuation allowance against $8,226 of deferred tax asset related to derivative financial instruments for which management has determined that it is more likely than not that the deferred tax asset will not be recognized in the foreseeable future. The impact of this deferred tax asset and associated valuation allowance has been recorded in accumulated other comprehensive loss on the balance sheet. Additionally, we have recorded valuation allowances of $25,389 and $3,805 against deferred tax assets related to U.S. research and development credits and U.S. capital loss carryforwards, respectively, for which management has determined that it is more likely than not that these will not be utilized within the applicable carryforward periods available under local law.

We have not recorded a valuation allowance against $14,235 of deferred tax asset associated with prior year tax losses generated in Switzerland. Management believes there is sufficient positive evidence in the form of historical and future projected profitability to conclude that it is more likely than not that all of the losses in Switzerland will be utilized against future taxable profits within the available carryforward period. Our assessments are reliant on the attainment of our future operating profit goals. Failure to achieve these operating profit goals may change our assessment of these deferred tax assets, and such change would result in additional valuation allowance and an increase in income tax expense to be recorded in the period of the change in assessment. We will continue to review our forecasts and profitability trends on a quarterly basis.

Based on the weight of available evidence at June 30, 2021, management believes that it is more likely than not that all other net deferred tax assets will be realized in the foreseeable future. We will continue to assess the realization of the deferred tax assets based on operating results on a quarterly basis.

A reconciliation of the beginning and ending amount of the valuation allowance for the year ended June 30, 2021 is as follows:


Balance at June 30, 2020	$	91,575
Charges to earnings (1)	17,214
Charges to other accounts (2)	5,128
Balance at June 30, 2021	$	113,917

_________________

(1) Amount is primarily related to increased U.S. and non-U.S. net operating losses, increased U.S. research and development credits, increased Irish foreign tax credits, and release of India valuation allowance.

(2) Amount is primarily related to increase in deferred tax assets on non-U.S. net operating losses due to currency exchange rate changes, acquired net operating losses recorded in purchase accounting, and unrealized losses on derivative financial instruments included in Accumulated Other Comprehensive Loss.

As of June 30, 2021, we had gross U.S. federal and apportioned state net operating losses of $12,124 and $25,179, respectively, that expire on various dates from fiscal year 2024 through fiscal year 2041 or with unlimited carryforward. We also had gross non-U.S. net operating loss carryforwards of $422,072, a significant amount of which begin to expire in fiscal year 2024, with the remaining amounts expiring on various dates from fiscal year 2022 through fiscal year 2030 or with unlimited carryforward. In addition, we had $30,693 of tax credit carryforwards primarily related to U.S. federal and state research and development credits, which expire on various dates beginning in fiscal year 2031 or with unlimited carryforward. We also had $18,118, $7,934 and $3,291 of U.S. federal, apportioned state, and non-U.S. capital loss carryforwards, respectively. The U.S. capital losses expire in fiscal year 2025 and the non-U.S. capital losses have unlimited carryforward. Lastly, we had $8,030 of Irish foreign tax credits with unlimited carryforward. The benefits of these carryforwards are dependent upon the generation of taxable income in the jurisdictions where they arose.

We consider the following factors, among others, in evaluating our plans for indefinite reinvestment of our subsidiaries’ earnings: (i) the forecasts, budgets and financial requirements of both our parent company and its subsidiaries, both for the long term and for the short term; (ii) the ability of Cimpress plc to fund its operations and obligations with earnings from other businesses within the global group without incurring substantial tax costs; and (iii) the tax consequences of any decision to reinvest earnings of any subsidiary. As of June 30, 2021, no tax provision has been made for $43,401 of undistributed earnings of certain of our subsidiaries as these earnings are considered indefinitely reinvested. If, in the future, we decide to repatriate the undistributed earnings from these subsidiaries in the form of dividends or otherwise, we could be subject to withholding taxes payable in the range of $10,000 to $11,000 at that time. A cumulative deferred tax liability of $6,877 has been recorded attributable to undistributed earnings that we have deemed are not indefinitely reinvested. The remaining undistributed earnings of our subsidiaries are not deemed to be indefinitely reinvested and can be repatriated with no tax cost. Accordingly, there has been no provision for income or withholding taxes on these earnings.

We currently benefit from various income tax holidays in certain jurisdictions. The tax holidays expire on various dates through August 2022. When the tax holidays expire, we will be subject to tax at rates ranging from 15% to 30%. As a result of the tax holidays, our net income was higher by $181 for fiscal year 2021.

A reconciliation of the gross beginning and ending amount of unrecognized tax benefits is as follows:


Balance June 30, 2018	$	4,705
Additions based on tax positions related to the current tax year	702
Additions based on tax positions related to prior tax years	201
Reductions based on tax positions related to prior tax years	(117)
Reductions due to lapse of statute of limitations	(763)
Cumulative translation adjustment	(7)
Balance June 30, 2019	4,721
Additions based on tax positions related to the current tax year	586
Additions based on tax positions related to prior tax years	769
Reductions based on tax positions related to prior tax years	(102)
Reductions due to audit settlements	(52)
Reductions due to lapse of statute of limitations	(71)
Cumulative translation adjustment	(4)
Balance June 30, 2020	5,847
Additions based on tax positions related to the current tax year	1,428
Additions based on tax positions related to prior tax years	7,448
Reductions based on tax positions related to prior tax years	(51)
Reductions due to audit settlements	(83)
Reductions due to lapse of statute of limitations	(229)
Cumulative translation adjustment	19
Balance June 30, 2021	$	14,379

For the year ended June 30, 2021, the amount of unrecognized tax benefits (exclusive of interest) that, if recognized, would impact the effective tax rate is $1,307. We recognize interest and, if applicable, penalties related to unrecognized tax benefits in income tax expense. The accrued interest and penalties recognized as of June 30, 2021, 2020 and 2019 were $1,014, $384 and $515, respectively. It is reasonably possible that a further change in unrecognized tax benefits in the range of $300 to $310 may occur within the next twelve months related to the settlement of one or more audits or 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 2020 remain open for examination by the United States Internal Revenue Service ("IRS") and the years 2015 through 2020 remain open for examination in the various states and non-US tax jurisdictions in which we file tax returns.

We are currently under income tax audit in certain jurisdictions globally. 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 therefore there is a possibility that final resolution of these matters could have a material impact on our results of operations or cash flows.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Noncontrolling Interest Disclosure [Text Block]

Noncontrolling interests

12 Months Ended

Jun. 30, 2021

Noncontrolling Interest [Abstract]

For some of our subsidiaries, we own a controlling equity stake, and a third party or key member of the business' management team 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. We recognize redeemable noncontrolling interests at fair value on the sale or acquisition date and adjust to the redemption value on a periodic basis with the offset to retained earnings in the consolidated balance sheet. If the formulaic redemption value exceeds the fair value of the noncontrolling interest, then the accretion to redemption value is offset to the net (income) loss attributable to noncontrolling interest in our consolidated statement of operations.

Redeemable Noncontrolling Interests

PrintBrothers

Members of the PrintBrothers management team hold a minority equity interest ranging from 11% to 12% in each of the three businesses within the segment. The put options associated with the redeemable noncontrolling interest are exercisable beginning in 2021, while the associated call options become exercisable in 2026. During the second quarter of fiscal year 2021, we repurchased equity interests ranging from 0.56% to 1.15% in each of the three businesses for a total of $5,063. During the year ended June 30, 2021, the redemption value of a PrintBrothers business increased above the carrying value due to growth in the fourth quarter of fiscal year 2021 as we've lapped the earliest periods that were more negatively impacted by the pandemic, resulting in an adjustment to the redeemable noncontrolling interest of $2,035, which was recognized as an adjustment to retained earnings.

All Other Businesses

On October 1, 2018, we acquired approximately 99% of the outstanding equity interests of BuildASign LLC. The remaining 1% is considered a redeemable noncontrolling equity interest, as it is redeemable for cash based on future financial results through put and call rights and not solely within our control. During the year ended June 30, 2021, the redemption value increased above the carrying value due to continued strong financial performance, resulting in an adjustment to the redeemable noncontrolling interest of $1,072, which was recognized as an adjustment to retained earnings.

On April 23, 2021, we acquired 81% of the outstanding equity interests of a US-based company that provides supply chain expertise and sells into a growing product category. The remaining 19% is considered a redeemable noncontrolling equity interest as it is redeemable for cash based on future financial results through put and call rights and not solely within our control. On the acquisition date, we recognized the redeemable noncontrolling interest at fair value of $4,370. As of June 30, 2021, the redemption value was less than the carrying value, and therefore no adjustment was required. Refer to Note 7 for additional details.

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


	Redeemable noncontrolling interests
Balance as of June 30, 2019	$	63,182

Acquisition of noncontrolling interest (1)	3,995

Accretion to redemption value recognized in retained earnings (2)	5,493
Net income attributable to noncontrolling interest	630
Distribution to noncontrolling interest (3)	(3,955)


Foreign currency translation	(239)
Balance as of June 30, 2020	69,106

Acquisition of noncontrolling interest (1)	4,370

Accretion to redemption value recognized in retained earnings (2)	3,049
Net income attributable to noncontrolling interest	2,772
Distribution to noncontrolling interest (3)	(4,746)
Purchase of noncontrolling interest	(5,063)

Foreign currency translation	1,632
Balance as of June 30, 2021	$	71,120

Segment Information

12 Months Ended

Jun. 30, 2021

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 June 30, 2021, we have numerous operating segments under our management reporting structure which are reported in the following five reportable segments:

•Vistaprint - Includes the operations of our global Vistaprint websites and our Webs-branded business, which is managed with the Vistaprint-branded digital business. Also included is our Vistaprint Corporate Solutions business which serves medium-sized businesses and large corporations, our 99designs business which was acquired on October 1, 2020, as well as a legacy revenue stream with retail partners and franchise businesses.

•PrintBrothers - Includes the results of our druck.at, Printdeal, and WIRmachenDRUCK businesses.

•The Print Group - Includes the results of our Easyflyer, Exaprint, Pixartprinting, and Tradeprint businesses.

•National Pen - Includes the global operations of our National Pen business, which manufactures and markets custom writing instruments and promotional products, apparel and gifts.

•All Other Businesses - Includes a collection of businesses grouped together based on materiality. With the exception of BuildASign, which is a larger and profitable business, the All Other Businesses reportable segment consists of two smaller businesses that we continue to manage at a relatively modest operating loss and the addition of a newly acquired company that provides supply chain expertise and sells into a growing product category.

◦BuildASign is an internet-based provider of canvas-print wall décor, business signage and other large-format printed products, based in Austin, Texas. In the fourth quarter of fiscal year 2021, we closed a small acquisition under BuildASign in a new product category.

◦Printi is an online printing leader in Brazil, which offers a superior customer experience with transparent and attractive pricing, reliable service and quality.

◦YSD is a startup operation that provides end-to-end mass customization solutions to brands and intellectual property owners in China, supporting multiple channels including retail stores, websites, WeChat and e-commerce platforms to enhance brand awareness and competitiveness and develop new markets.

Central and corporate costs consist 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; administrative costs of our Cimpress India offices where numerous Cimpress businesses have dedicated business-specific team members; and corporate functions including our Board of Directors, CEO, and the team members necessary for managing corporate activities, such as treasury, tax, capital allocation, financial consolidation, internal audit and legal. These costs also include certain unallocated share-based compensation costs.

The expense value of our PSU awards 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.

Our definition of segment EBITDA is GAAP operating income excluding certain items, such as depreciation and amortization, 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. We include insurance proceeds that are not recognized within operating income. We do not allocate non-operating income, including realized gains and losses on currency hedges, to our segment results.

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 by reportable segment, as well as disaggregation of revenue by major geographic region and reportable segment.


	Year Ended June 30,
		2021		2020		2019
Revenue:
Vistaprint		$	1,444,807	$	1,337,291	$	1,508,322
PrintBrothers		421,766		417,921		443,987
The Print Group		275,534		275,214		325,872
National Pen		313,528		299,474		348,409
All Other Businesses		192,038		173,789		136,202
Total segment revenue		2,647,673		2,503,689		2,762,792
Inter-segment eliminations (1)		(55,160)		(22,331)		(11,716)
Total consolidated revenue		$	2,592,513	$	2,481,358	$	2,751,076

_____________________

(1) Refer to the "Revenue by Geographic Region" tables below for detail of the inter-segment revenue within each respective segment.


	Year Ended June 30, 2021
	Vistaprint		PrintBrothers		The Print Group		National Pen		All Other		Total
Revenue by Geographic Region:
North America	$	955,280	$	—	$	—	$	154,857	$	171,398	$	1,281,535
Europe	350,270		420,946		258,230		106,004		—		1,135,450
Other	136,919		—		—		20,762		17,847		175,528
Inter-segment	2,338		820		17,304		31,905		2,793		55,160
Total segment revenue	1,444,807		421,766		275,534		313,528		192,038		2,647,673
Less: inter-segment elimination	(2,338)		(820)		(17,304)		(31,905)		(2,793)		(55,160)
Total external revenue	$	1,442,469	$	420,946	$	258,230	$	281,623	$	189,245	$	2,592,513


	Year Ended June 30, 2020
	Vistaprint		PrintBrothers		The Print Group		National Pen		All Other		Total
Revenue by Geographic Region:
North America	$	928,668	$	—	$	—	$	154,632	$	153,795	$	1,237,095
Europe	325,239		416,987		269,220		112,046		—		1,123,492
Other	77,204		—		—		24,990		18,577		120,771
Inter-segment	6,180		934		5,994		7,806		1,417		22,331
Total segment revenue	1,337,291		417,921		275,214		299,474		173,789		2,503,689
Less: inter-segment elimination	(6,180)		(934)		(5,994)		(7,806)		(1,417)		(22,331)
Total external revenue	$	1,331,111	$	416,987	$	269,220	$	291,668	$	172,372	$	2,481,358


	Year Ended June 30, 2019
	Vistaprint		PrintBrothers		The Print Group		National Pen		All Other		Total
Revenue by Geographic Region:
North America	$	1,040,928	$	—	$	—	$	179,425	$	112,216	$	1,332,569
Europe	373,768		442,760		325,076		134,381		—		1,275,985
Other	87,775		—		—		30,874		23,873		142,522
Inter-segment	5,851		1,227		796		3,729		113		11,716
Total segment revenue	1,508,322		443,987		325,872		348,409		136,202		2,762,792
Less: inter-segment elimination	(5,851)		(1,227)		(796)		(3,729)		(113)		(11,716)
Total external revenue	$	1,502,471	$	442,760	$	325,076	$	344,680	$	136,089	$	2,751,076

The following table includes segment EBITDA by reportable segment, total income from operations and total (loss) income before income taxes:


	Year Ended June 30,
		2021		2020		2019
Segment EBITDA:
Vistaprint		$	324,715	$	366,334	$	349,697
PrintBrothers		43,144		39,373		43,474
The Print Group		43,126		51,606		63,997
National Pen		11,644		7,605		17,299
All Other Businesses		31,707		17,474		(6,317)
Total segment EBITDA		454,336		482,392		468,150
Central and corporate costs		(135,398)		(140,398)		(117,295)
Depreciation and amortization		(173,212)		(167,943)		(172,957)
Waltham, MA lease depreciation adjustment (1)		—		—		4,120
Proceeds from insurance		(122)		—		—
Earn-out related charges		—		54		—
Share-based compensation related to investment consideration		—		—		(2,893)
Certain impairments and other adjustments (2)		(20,453)		(104,593)		(10,700)
Restructuring-related charges		(1,641)		(13,543)		(12,054)
Interest expense for Waltham, MA lease (1)		—		—		7,236

Total income from operations		123,510		55,969		163,607
Other (expense) income, net		(11,835)		22,874		26,476
Interest expense, net		(119,368)		(75,840)		(63,171)
Loss on early extinguishment of debt		(48,343)		—		—
(Loss) income before income taxes		$	(56,036)	$	3,003	$	126,912

___________________

(1) Upon the adoption of the new leasing standard on July 1, 2019, our Waltham, MA lease, which was previously classified as build-to-suit, is now classified as an operating lease under the new standard. Therefore, the Waltham depreciation and interest expense adjustments that were made in comparative periods are no longer made after such adoption as any impact from the Waltham lease is now reflected in operating income.

(2) For the year ended June 30, 2021, certain impairments and other adjustments includes lease impairment and abandonment charges for two leased locations totaling $19,882. Refer to Note 16 for additional details. For the year ended June 30, 2020, certain impairments and other adjustments includes impairments of goodwill defined by ASC 350 - "Intangibles - Goodwill and Other" of $100,842, as well as losses of $1,520 recognized for fair value adjustments to the disposal group related to our VIDA sale. During the year ended June 30, 2019 we recognized reserves for loans as defined by ASC 326 - "Financial Instruments - Credit Losses".


	Year Ended June 30,
		2021		2020		2019
Depreciation and amortization:
Vistaprint		$	58,513	$	59,029	$	67,317
PrintBrothers		22,089		21,010		22,108
The Print Group		27,066		24,769		29,437
National Pen		25,123		23,654		21,642
All Other Businesses		19,811		23,755		17,068
Central and corporate costs		20,610		15,726		16,199
Total depreciation and amortization		$	173,212	$	167,943	$	173,771


	Year Ended June 30,
		2021		2020		2019
Purchases of property, plant and equipment:
Vistaprint		$	12,332	$	15,986	$	32,820
PrintBrothers		3,609		4,315		3,521
The Print Group		11,847		17,136		7,908
National Pen		3,603		5,016		8,346
All Other Businesses		5,466		4,242		16,996
Central and corporate costs		1,667		3,772		972
Total purchases of property, plant and equipment		$	38,524	$	50,467	$	70,563


	Year Ended June 30,
		2021		2020		2019
Capitalization of software and website development costs:
Vistaprint		$	28,297	$	18,381	$	23,369
PrintBrothers		1,465		990		1,787
The Print Group		1,603		1,484		2,327
National Pen		3,115		3,290		3,624
All Other Businesses		3,746		3,684		2,948
Central and corporate costs		22,711		16,163		14,597
Total capitalization of software and website development costs		$	60,937	$	43,992	$	48,652

Enterprise Wide Disclosures:

The following tables set forth revenues by geographic area and groups of similar products and services:


	Year Ended June 30,
		2021		2020		2019
United States		$	1,199,436	$	1,251,531	$	1,361,438
Germany (1)		350,281		351,348		367,375
Other (2)		1,042,796		878,479		1,022,263
Total revenue		$	2,592,513	$	2,481,358	$	2,751,076


	Year Ended June 30,
		2021		2020		2019
Physical printed products and other (3)		$	2,477,158	$	2,431,367	$	2,700,167
Digital products/services (4)		115,355		49,991		50,909
Total revenue		$	2,592,513	$	2,481,358	$	2,751,076

__________________

(1) Our revenues within the German market exceeded 10% of our total consolidated revenue. Therefore, we have presented Germany as a significant geographic area.

(2) Our other revenue includes Ireland, our country of domicile.

(3) Other revenue includes miscellaneous items which account for less than 1% of revenue.

(4) Digital products/service revenue includes revenue associated with design services and for the year ended June 30, 2021 includes revenue from our 99designs business which was acquired on October 1, 2020. Refer to Note 7 for additional details.

The following table sets forth long-lived assets by geographic area:


	June 30, 2021		June 30, 2020
Long-lived assets (1):
United States	$	107,868	$	161,853
Netherlands	75,996		82,897
Canada	60,779		67,367
Switzerland	68,880		58,013
Italy	47,776		46,317
Jamaica	20,550		21,563
Australia	21,298		19,695
France	25,417		23,917
Japan	14,891		15,430
Other	96,063		94,922
Total	$	539,518	$	591,974

___________________

(1) Excludes goodwill of $726,979 and $621,904, intangible assets, net of $186,744 and $209,228, deferred tax assets of $149,618 and $143,496, and marketable securities, non-current of $50,713 and zero as of June 30, 2021 and June 30, 2020, respectively.

Commitments and Contingencies Disclosure [Abstract]

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Leases

12 Months Ended

Jun. 30, 2021

Leasing Disclosures [Abstract]

Leases

We lease certain machinery and plant equipment, office space, and production and warehouse facilities under non-cancelable operating leases that expire on various dates through 2034. Our finance leases primarily relate to machinery and plant equipment.

The following table presents the classification of right-of-use assets and lease liabilities as of June 30, 2021 and 2020:


Leases	Consolidated Balance Sheet Classification	June 30, 2021		June 30, 2020

Assets:
Operating right-of-use assets	Operating lease assets, net (1)	$	87,626	$	156,258
Finance right-of-use assets	Property, plant, and equipment, net (2)	35,384		20,842
Total lease assets		$	123,010	$	177,100
Liabilities:
Current:
Operating lease liabilities	Operating lease liabilities, current (1)	$	26,551	$	41,772
Finance lease liabilities	Other current liabilities (2)	32,314		8,055
Non-current:
Operating lease liabilities	Operating lease liabilities, non-current	66,222		128,963
Finance lease liabilities	Other liabilities	18,528		18,617
Total lease liabilities		$	143,615	$	197,407

__________________

(1) The decrease in operating lease assets and liabilities is due primarily to the Waltham lease modifications described below.

(2) The increase in finance lease assets and liabilities is due primarily to the lease modification described below within the "Other Lease Modification" section.

The following table represents the lease expenses for the years ended June 30, 2021 and 2020:


	Year Ended
	June 30, 2021		June 30, 2020
Operating lease expense (1)	$	36,803	$	43,058
Finance lease expense:
Amortization of finance lease assets	5,557		5,766
Interest on lease liabilities	211		698
Variable lease expense	7,846		10,775
Less: sublease income	(2,309)		(3,545)
Net operating and finance lease cost	$	48,108	$	56,752

__________________

(1) The decrease in operating lease expense for the fiscal year ended June 30, 2021 is driven primarily by the Waltham lease modification described below.

Future minimum lease payments under non-cancelable leases as of June 30, 2021 were as follows:


Payments Due by Period	Operating lease obligations		Finance lease obligations		Total lease obligations
Less than 1 year	$	29,527	$	32,873	$	62,400
2 years	25,125		6,738		31,863
3 years	20,377		5,511		25,888
4 years	12,397		4,326		16,723
5 years	7,270		2,181		9,451
Thereafter	6,899		1,293		8,192
Total	101,595		52,922		154,517
Less: present value discount	(8,822)		(2,080)		(10,902)
Lease liability	$	92,773	$	50,842	$	143,615

Other information about leases is as follows:


Lease Term and Discount Rate	June 30, 2021		June 30, 2020
Weighted-average remaining lease term (years):
Operating leases	4.28		6.18
Finance leases (1)	10.71		4.61
Weighted-average discount rate:
Operating leases	3.17	%	2.83	%
Finance leases	3.93	%	2.62	%

__________________

(1) The increase to finance leases' weighted-average lease term is largely due to the reclassification of an operating lease to a finance lease upon giving notice to a landlord to exercise our purchase option under an existing lease. Refer to the "Other Lease Modification" section below for more details.

Our leases have remaining lease terms of 1 year to 14 years, inclusive of renewal or termination options that we are reasonably certain to exercise.


	Year Ended
Supplemental Cash Flow Information	June 30, 2021		June 30, 2020
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases (1)	$	47,327	$	40,777
Operating cash flows from finance leases	211		698
Financing cash flows from finance leases	8,001		9,511

__________________

(1) The operating lease cash flows included $8,761 of termination fees for the Waltham lease modification as described below.

Waltham Lease Modification

On January 6, 2021, we entered into an arrangement that modifies the lease agreement for our Waltham, Massachusetts office location, which results in us retaining a small portion of the previously leased office space in exchange for a reduction to our monthly rent payments for the space we no longer lease. As part of the agreement, we were required to pay a termination fee of $8,761 in two equal installments. The first payment was made on January 6, 2021, and the remaining amount was paid on April 1, 2021. The termination fee is inclusive of the rent that would have otherwise been paid on the leased space through June 2021 while it remained vacant. We separately entered into a lease agreement for a new office location in Waltham, Massachusetts which commenced on June 1, 2021. Prior to the amendment, the total remaining lease commitments through September 2026 were $64,811. Under the modified lease term, combined with the new lease arrangement, the total lease commitments through September 2026 will be $20,183, excluding the termination penalties included above.

Due to the partial termination of the lease, we recorded a decrease to the operating lease liabilities of $47,801 to reflect the reduced lease payments, including the termination penalties. We also recorded a decrease to the operating lease asset of $46,645 based on the proportionate decrease in the right-of-use asset, which resulted in a gain of $1,156, recognized in general and administrative expense on the consolidated statement of operations for the year ended June 30, 2021.

Due to our plans to no longer occupy the remaining leased office space and instead market the space to be subleased, we identified a triggering event with regards to the modified right-of-use asset. Therefore, we performed a discounted cash flow analysis that considered market-based rent assumptions, which resulted in an impairment of the right-of-use asset of $7,489 which was recognized in general and administrative expense on the consolidated statement of operations for the year ended June 30, 2021. Additionally, we recorded an impairment to general and administrative expense for abandoned assets related to the vacated space totaling $4,483, which included $2,787 in subtenant allowances, $1,312 in leasehold improvements, and $384 in furniture and fixtures.

Other Lease Modification

During the quarter ended March 31, 2021, we identified a triggering event due to a change in our intended use of the right-of-use asset of another one of our leased facilities, as we have committed to plans to exit the space and instead market it to be subleased or sold. We assessed the lease for impairment and performed a discounted cash flow analysis using current market-based rent assumptions, which resulted in an impairment of $7,420 that was recognized in general and administrative expense on the consolidated statement of operations for the year ended June 30, 2021. This impairment resulted in a decrease to the right of use asset totaling $5,280 and to the related leasehold improvements included within property, plant and equipment totaling $2,140. Additionally, we recorded an impairment for abandoned equipment in the amount of $1,680 that was recognized in general and administrative expense for the year ended June 30, 2021.

On June 1, 2021, we gave notice to the landlord of one of our leased facilities to exercise our purchase option under the existing lease, which triggered a remeasurement event as the purchase option is now considered reasonably certain of occurring. We also executed a letter of intent during the current quarter to sell the building to an unrelated third-party, which would occur simultaneously with our exercise of the purchase option. The lease was previously recognized as an operating lease and our intent to now purchase the leased facility resulted in a modification of the lease and reclassification to a finance lease. The modification increased our lease liability to include the estimated purchase option amount, which remains subject to change as the purchase option amount is based on fair market value with an embedded floor. This modification resulted in an increase to the lease liability and asset of $8,201 and recognition of a finance lease asset of $15,860 and a corresponding liability of $23,959.

Commitments and Contingencies

12 Months Ended

Jun. 30, 2021

Commitments and Contingencies

Purchase Obligations

At June 30, 2021, we had unrecorded commitments under contract of $245,149, including third-party web services of $95,497, inventory and third-party fulfillment purchase commitments of $55,530, software of $47,694, advertising of $13,047, production and computer equipment purchases of $14,722, professional and consulting fees of $7,438, and other unrecorded purchase commitments of $11,221.

Debt

The required principal payments due during the next five fiscal years and thereafter under our outstanding long-term debt obligations at June 30, 2021 are as follows:


2022	$	13,330
2023	15,614
2024	15,247
2025	13,718
2026	612,527
Thereafter	1,094,420
Total	$	1,764,856

Other Obligations

We deferred payments for several of our acquisitions resulting in the recognition of a liability of $45,025 in aggregate as of June 30, 2021. As of June 30, 2021, this balance includes the deferred payment related to the 99designs acquisition in the amount of $44,423 due in February 2022. Refer to Note 7 for additional details.

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. For all legal matters, 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

12 Months Ended

Jun. 30, 2021

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring costs include one-time employee termination benefits, acceleration of share-based compensation, write-off of assets and other related costs including third-party professional and outplacement services. The restructuring charges included in our consolidated statement of operations for the years ended June 30, 2021, 2020, and 2019 were $1,641, $13,543, and $12,054, respectively.

During the year ended June 30, 2021 we recognized restructuring charges of of $1,641, primarily due to organizational changes within The Print Group segment totaling $1,966 intended to streamline certain activities. This was partially offset by changes in estimate related to prior period actions of $325. We do not expect any material charges to be incurred in future periods related to each of these initiatives.

During the year ended June 30, 2020, we recognized restructuring charges of $13,543, consisting of charges of $5,734 within our Vistaprint reportable segment as we evolved our organizational structure, including our reorganization of the technology team. We also recognized $3,532 in charges within our central and corporate costs, due to the coordinated reorganization of technology teams with our Vistaprint business. We also incurred charges of $3,211, $535, and $475 in our National Pen, All Other Businesses and The Print Group reportable segments, respectively during the year ended June 30, 2020, for various cost reduction measures primarily in response to the pandemic. These restructuring actions were completed during fiscal year 2020.

During the year ended June 30, 2019, we recognized restructuring charges of $12,054, primarily related to a restructuring action within our Vistaprint business, resulting in $8,467 of charges. The Vistaprint action included changes to the leadership team, as well as other reductions in headcount and associated costs. We also incurred individually immaterial restructuring charges in The Print Group, All Other Businesses reportable segments, and Central and Corporate cost center of $2,223, $1,197, and $167, respectively. These restructuring actions were completed during fiscal year 2019.

The following table summarizes the restructuring activity during the years ended June 30, 2021 and 2020:


	Severance and Related Benefits		Other Restructuring Costs		Total
Accrued restructuring liability as of June 30, 2019	$	3,045	$	167	$	3,212
Restructuring charges	13,193		350		13,543
Cash payments	(8,647)		(440)		(9,087)
Non-cash charges (1)	(1,622)		—		(1,622)
Accrued restructuring liability as of June 30, 2020	5,969		77		6,046
Restructuring charges	998		643		1,641
Cash payments	(6,565)		—		(6,565)
Non-cash charges (1)	—		(720)		(720)
Accrued restructuring liability as of June 30, 2021	$	402	$	—	$	402

__________________

(1) Non-cash charges primarily include the write-off of property, plant and equipment, net, which was recognized as part of the actions taken in The Print Group segment during the year ended June 30, 2021, and also includes the acceleration of share based compensation expenses for the year ended June 30, 2020.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements include the accounts of Cimpress plc, 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. Investments in entities in which we cannot exercise significant influence, and the related equity securities do not have a readily determinable fair value, are accounted for using the cost method and are included in other assets on the consolidated balance sheets.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“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.

Throughout fiscal year 2021, the COVID-19 pandemic had a negative impact on most of our businesses, but we've experienced improving trends in customer demand throughout the fiscal year. We evaluated our liquidity position as of the date of the issuance of these consolidated financial statements. Based on this evaluation, management believes, despite the ongoing impact of COVID-19 on our business, that our financial position, net cash provided by operations combined with our cash and cash equivalents, marketable securities and borrowing availability under our revolving credit facility, will be sufficient to fund our current obligations, capital spending, debt service requirements and working capital requirements over at least the next twelve months.

Other Income (expense), net

Other (Expense) Income, Net

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


	Year Ended June 30,
		2021		2020		2019
(Losses) gains on derivatives not designated as hedging instruments (1)		$	(20,728)	$	20,564	$	23,494
Currency-related gains (losses), net (2)		8,523		2,309		2,506
Other gains		370		1		476
Total other (expense) income, net		$	(11,835)	$	22,874	$	26,476

_____________________

(1) Primarily relates to both realized and unrealized gains and losses on derivative currency forward and option contracts and interest rate swaps not designated as hedging instruments, including losses of $3,422 for the year ended June 30, 2021, related to certain interest rate swap contracts that were de-designated from hedge accounting during the year due to their ineffectiveness, which had an immaterial impact in the comparative periods. As of June 30, 2021 we have redesignated several of our previously dedesignated hedge contracts. Refer to Note 4 for additional information.

(2) We have significant non-functional currency intercompany financing relationships that we may change at times and are subject to currency exchange rate volatility. The currency-related (losses) gains, net are primarily driven by this intercompany activity for the periods presented. In addition, we have certain cross-currency swaps designated as cash flow hedges which hedge the remeasurement of certain intercompany loans; both are presented in the same component above. Unrealized losses related to cross-currency swaps were $7,211 for the year ended

June 30, 2021 as compared to unrealized gains of $929 for the year ended June 30, 2020, and unrealized losses of $3,484 for the year ended June 30, 2019.

Net Income Per Share

Net (Loss) Income Per Share Attributable to Cimpress plc

Basic net (loss) income per share attributable to Cimpress plc is computed by dividing net (loss) income attributable to Cimpress plc by the weighted-average number of ordinary shares outstanding for the respective period. Diluted net (loss) income per share attributable to Cimpress plc gives effect to all potentially dilutive securities, including share options, restricted share units (“RSUs”), warrants, 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:


	Year Ended June 30,
		2021	2020	2019
Weighted average shares outstanding, basic		25,996,572	27,180,744	30,786,349
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/warrants (1)		—	592,542	876,356
Shares used in computing diluted net (loss) income per share attributable to Cimpress plc		25,996,572	27,773,286	31,662,705
Weighted average anti-dilutive shares excluded from diluted net (loss) income per share attributable to Cimpress plc (2)		494,329	1,325	—

_____________________

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

(2) On May 1, 2020, we entered into a financing arrangement with Apollo Global Management, Inc., which included 7-year warrants with a strike price of $60 that have a potentially dilutive impact on our weighted average shares outstanding. For the years ended June 30 2021 and 2020, the weighted average anti-dilutive effect of the warrants was 368,933 and 73,719 shares, respectively. Refer to Note 10 for additional details about the arrangement.

Recently Issued or Adopted Accounting Pronouncements

New Accounting Standards Adopted

In December 2019, the FASB issued Accounting Standards Update No. 2019-12 "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" (ASU 2019-12), which modifies certain aspects of income tax accounting. We early adopted the standard on July 1, 2020. For the year ended June 30, 2021, adopting ASU 2019-12 resulted in a $2,771 increased tax expense in our consolidated financial statements, related to the intraperiod allocation rules. Under the intraperiod allocation rules, an entity generally allocates total income tax expense or benefit by first determining the amount attributable to continuing operations and then allocating the remaining tax expense or benefit to items other than continuing operations. An exception existed that required an entity with a loss from continuing operations to consider all components when determining the benefit from continuing operations. ASU 2019-12 removes this exception.

In June 2016, the FASB issued Accounting Standards Update No. 2016-13 "Financial Instruments—Credit Losses (Topic 326)" (ASU 2016-13), which introduces a new accounting model for recognizing credit losses on certain financial instruments based on an estimate of current expected credit losses. We adopted the standard on its effective date of July 1, 2020. The standard did not have a material impact on our consolidated financial statements.

In March 2020, the FASB issued ASU 2020-04 "Reference Rate Reform ("ASC 848"): Facilitation of the Effects of Reference Rate Reform on Financial Reporting", which contains optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. We adopted the standard on October 1, 2020. We elected to amend our hedge documentation, without dedesignating and redesignating, for all outstanding cash flow hedges by applying two practical expedients. We elected the expedient in ASC 848-50-25-2 to assert probability of the hedged interest payments regardless of any expected modification in terms related to reference rate reform. In addition, we elected to continue the method of assessing effectiveness as documented in the original hedge documentation and elected to apply the expedient in ASC 848-50-35-17, so that the reference rate on the hypothetical derivative matches the reference rate on the hedging instrument. The standard did not have a material impact on our consolidated financial statements.

Issued Accounting Standards to be Adopted

In May 2021, the FASB issued Accounting Standards Update No. 2021-04 "Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)" (ASU 2021-04), which provides authoritative guidance for the accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The standard is effective for us on July 1, 2022, and early adoption is permitted. We are assessing the impact on our consolidated financial statements.

Cash and Cash Equivalents, Policy

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of three months or less to be the equivalent of cash for the purpose of balance sheet and statement of cash flows presentation. Cash equivalents consist of depository accounts and money market funds. Cash and cash equivalents restricted for use were $537 and $86 as of June 30, 2021 and 2020, respectively, and are included in other assets in the accompanying consolidated balance sheets.

For bank accounts that are overdrawn at the end of a reporting period, including any net negative balance in our notional cash pool, we reclassify these overdrafts to short-term debt on our consolidated balance sheets. Book overdrafts that result from outstanding checks in excess of our bank balance are reclassified to other current liabilities. We did not have a bank overdraw for the year ended June 30, 2021, while for the year ended June 30, 2020, we reclassified an overdraw of $3,768 to short-term debt within our consolidated balance sheets and presented the overdraw within financing activities in our consolidated statement of cash flows. As of June 30, 2021 and 2020, we did not record a book overdraft.

Marketable Securities, Policy

Marketable Securities

We hold certain investments that are classified as held-to-maturity (HTM) as we have the intent and ability to hold them to their maturity dates. Our policy is to invest in the following permitted classes of assets: overnight money market funds invested in U.S. Treasury securities and U.S. government agency securities, U.S Treasury securities-specifically U.S Treasury bills, notes, and bonds, U.S. government agency securities, bank time deposits, commercial paper, corporate notes and bonds, and medium term notes. We generally invest in securities with a maturity of two years or less. As the investments are classified as held-to-maturity they are recorded at amortized cost and interest income is recorded as it is earned within interest (expense) income.

We will continue to assess our securities for impairment when the fair value is less than amortized cost to determine if any risk of credit loss exists. As our intent is to hold the securities to maturity, we must assess whether any credit losses related to our investments are recoverable, and determine if it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. For the year ended June 30, 2021 we did not record an allowance for credit losses and we recognized no impairments for these marketable securities.

The following is a summary of the held-to-maturity securities by type as of June 30, 2021 and as of June 30, 2020 we held no marketable securities:


	Amortized cost		Unrealized losses		Fair value
June 30, 2021
Commercial paper	$	74,463	$	(28)	$	74,435
Corporate debt securities	128,498		(147)		128,351
Total	$	202,961	$	(175)	$	202,786

The following table summarizes the net carrying amount and fair value of the held-to maturity securities by contractual maturity.


	Amortized cost		Fair value
Due within one year or less
Commercial paper and corporate debt securities	$	152,248	$	152,163
Due after one year through two years
Corporate debt securities	50,713		50,623
Total	$	202,961	$	202,786

Accounts Receivable [Policy Text Block]

Accounts Receivable

Accounts receivable includes amounts due from customers. We offset gross trade accounts receivable with an allowance for doubtful accounts, which is our best estimate of the amount of probable credit losses in existing accounts receivable. Account balances are charged off against the allowance when the potential for recovery is no longer reasonably assured.

Inventory, Policy [Policy Text Block]

InventoriesInventories consist primarily of raw materials and are recorded at the lower of cost or net realizable value using the first-in, first-out method. Costs to produce products are included in cost of revenues as incurred.

Property, Plant and Equipment, Policy [Policy Text Block]

Property, Plant and Equipment

Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Additions and improvements that substantially extend the useful life of a particular asset are capitalized while repairs and maintenance costs are expensed as incurred. Assets that qualify for the capitalization of interest cost during their construction period are evaluated on a per project basis and, if material, the costs are capitalized. No interest costs associated with our construction projects were capitalized in any of the years presented as the amounts were not material. Depreciation of plant and equipment is recorded on a straight-line basis over the estimated useful lives of the assets.

Internal Use Software, Policy

Software and Web Site Development Costs

We capitalize eligible salaries and payroll-related costs of employees and third-party consultants who devote time to the development of websites and internal-use computer software. Capitalization begins when the preliminary project stage is complete, management with the relevant authority authorizes and commits to the funding of the software project, and it is probable that the project will be completed and the software will be used to perform the function intended. These costs are amortized on a straight-line basis over the estimated useful life of the software, which is generally over a three year period. Costs associated with preliminary stage software development, repair, maintenance or the development of website content are expensed as incurred.

Amortization of previously capitalized amounts in the years ended June 30, 2021, 2020 and 2019 was $47,560, $40,753 and $35,068, respectively, resulting in accumulated amortization of $231,482 and $180,993 at June 30 2021 and 2020, respectively.

Goodwill and Intangible Assets, Intangible Assets, Policy

Intangible Assets

We capitalize the costs of purchasing patents from unrelated third parties and amortize these costs over the estimated useful life of the patent. The costs related to patent applications, pursuing others who we believe infringe on our patents, and defending against patent-infringement claims are expensed as incurred.

We record acquired intangible assets at fair value on the date of acquisition using the income approach to value the trade names, customer relationships and customer network and a replacement cost approach to value developed technology and our print network. The income approach calculates fair value by discounting the forecasted after-tax cash flows back to a present value using an appropriate discount rate. The baseline data for this analysis was the cash flow estimates used to price the transaction. We amortize such assets using the straight-line method over the expected useful life of the asset, unless another amortization method is deemed to be more appropriate. In estimating the useful life of the acquired assets, we reviewed the expected use of the assets acquired, factors that may limit the useful life of an acquired asset or may enable the extension of the useful life of an acquired asset without substantial cost, the effects of obsolescence, demand, competition and other economic factors, and the level of maintenance expenditures required to obtain the expected future cash flows from the asset.

We evaluate the remaining useful life of intangible assets on a periodic basis to determine whether events and circumstances warrant a revision to the remaining useful life. If the estimate of an intangible asset’s remaining useful life is changed, we amortize the remaining carrying value of the intangible asset prospectively over the revised remaining useful life.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Long-Lived Assets

Long-lived assets with a finite life are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. Conditions that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or any other significant adverse change that would indicate that the carrying amount of an asset or group of assets may not be recoverable. We did not recognize any impairment or abandonment charges for acquired intangible assets in any of the periods presented.

Business Combinations Policy [Policy Text Block]

Business Combinations

We recognize the assets acquired and liabilities assumed in business combinations on the basis of their fair values at the date of acquisition. We assess the fair value of assets, including intangible assets, using a variety of methods and each asset is measured at fair value from the perspective of a market participant. The method used to estimate the fair values of intangible assets incorporates significant assumptions regarding the estimates a market participant would make in order to evaluate an asset, including a market participant’s use of the asset and the appropriate discount rates. Assets acquired that are determined to not have economic use for us are expensed immediately. Any excess purchase price over the fair value of the net tangible and intangible assets acquired is allocated to goodwill. Transaction costs and restructuring costs associated with a business combination are expensed as incurred.

The consideration for our acquisitions often includes future payments that are contingent upon the occurrence of a particular event. For acquisitions that qualify as business combinations, we record an obligation for such contingent payments at fair value on the acquisition date.

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill

The evaluation of goodwill for impairment is performed at a level referred to as a reporting unit. A reporting unit is either the “operating segment level” or one level below, which is referred to as a “component.” The level at which the impairment test is performed requires an assessment as to whether the operations below the operating segment should be aggregated as one reporting unit due to their similarity or reviewed individually. Goodwill is evaluated for impairment on an annual basis or more frequently when an event occurs or circumstances change that indicate that the carrying value may not be recoverable. Goodwill is considered to be impaired when the carrying amount of a reporting unit exceeds its estimated fair value.

We have the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the results of this analysis indicate that the fair value of a reporting unit is less than its carrying value, the quantitative impairment test is required; otherwise, no further assessment is necessary. To perform the quantitative approach, we estimate the fair value of our reporting units using a discounted cash flow methodology. If the carrying value of a reporting unit’s goodwill exceeds its implied fair value, then we record an impairment loss equal to the difference. Refer to Note 8 for additional information.

Debt, Policy [Policy Text Block]

Debt Issuance Costs

Costs associated with the issuance of debt instruments are capitalized and amortized over the term of the respective financing arrangement on a straight-line basis through the maturity date of the related debt instrument. We evaluate all changes to our debt arrangements, to determine whether the changes represent a modification or extinguishment to the old debt arrangement. If a debt instrument is deemed to be modified, we capitalize all new lenders fees and expense all third-party fees. If we determine that an extinguishment of one of our debt instruments has occurred, the unamortized financing fees associated with the extinguished instrument are expensed. For the revolving loans associated with our senior secured credit facility, all lender and third-party fees are capitalized, and in the event an amendment reduces the committed capacity under the revolving loans, we expense a portion of any unamortized fees on a pro-rata basis in proportion to the decrease in the committed capacity.

Derivatives, Policy

Derivative Financial Instruments

We record all derivatives on the consolidated balance sheet at fair value. We apply hedge accounting to arrangements that qualify and are designated for hedge accounting treatment, which includes cash flow and net investment hedges. Hedge accounting is discontinued prospectively if the hedging relationship ceases to be effective or the hedging or hedged items cease to exist as a result of maturity, sale, termination or cancellation.

Derivatives designated and qualifying as hedges of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges which could include interest rate swap contracts and cross-currency swap contracts. In a cash flow hedging relationship, the effective and ineffective portion of the change in the fair value of the hedging derivative is initially recorded in accumulated other comprehensive (loss) income. The portion of gain or loss on the derivative instrument previously recorded in accumulated other comprehensive (loss) income remains in accumulated other comprehensive (loss) income until the forecasted transaction is recognized in earnings. For derivatives designated as cash flow hedges, we present the settlement amount of these contracts within cash from investing activities in our consolidated statement of cash flows, if the hedged item continues after contract settlement.

Derivatives designated and qualifying as hedges of currency exposure of a net investment in a foreign operation are considered net investment hedges which could include cross-currency swap and currency forward contracts. In hedging the currency exposure of a net investment in a foreign operation, the effective and ineffective portion of gains and losses on the hedging instruments is recognized in accumulated other comprehensive (loss) income as part of currency translation adjustment. The portion of gain or loss on the derivative instrument previously recorded in accumulated other comprehensive (loss) income remains in accumulated other comprehensive (loss) income until we reduce our investment in the hedged foreign operation through a sale or substantial liquidation.

We also enter into derivative contracts that are intended to economically hedge certain of our risks, even though we may not elect to apply hedge accounting or the instrument may not qualify for hedge accounting. When hedge accounting is not applied, the changes in the fair value of the derivatives are recorded directly in earnings as a component of other (expense) income, net.

In accordance with the fair value measurement guidance, our accounting policy is to measure the credit risk of our derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. We execute our derivative instruments with financial institutions that we judge to be credit-worthy, defined as institutions that hold an investment grade credit rating.

Stockholders' Equity, Policy

Shareholders' Equity (Deficit)

Comprehensive Income (Loss)

Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) is composed of net income, unrealized gains and losses on derivatives, unrealized loss on pension benefit obligation, and cumulative foreign currency translation adjustments, which are included in the accompanying consolidated statements of comprehensive income.

Treasury Shares

Treasury shares are accounted for using the cost method and are included as a component of shareholders' equity. We reissue treasury shares as part of our share-based compensation programs and as consideration for some of our acquisition transactions. Upon issuance of treasury shares we determine the cost using the average cost method.

Warrants

We bifurcate and separately account for a detachable warrant as a separate equity instrument. The value assigned to the warrants was determined based on a relative fair value allocation between the warrants and related debt. The fair value of the warrants was determined using a Monte Carlo valuation and applying a discount for the lack of marketability for the warrants. We present the allocated value for the warrants within additional paid-in capital in our consolidated balance sheet. Refer to Note 10 for additional details.

Revenue [Policy Text Block]

Revenue Recognition

We generate revenue primarily from the sale and shipment of customized manufactured products. We also generate revenue, to a much lesser extent (and primarily in our Vistaprint business) from digital services, website design and hosting, professional design services, and email marketing services, as well as a small percentage from order referral fees and other third-party offerings. Revenues are recognized when control of the promised products or services is transferred to the customer in an amount that reflects the consideration we expect to be entitled to in exchange for those products or services. Shipping revenues are recognized when control of the related products is transferred to the customer. For design service arrangements, we recognize revenue when the services are complete. A portion of this revenue relates to design contests in which we have determined that we are the principal in the arrangement as we satisfy our contractual performance obligation to provide the customer with the benefit of our platform and network of designers.

Under the terms of most of our arrangements with our customers we provide satisfaction guarantees, which give our customers an option for a refund or reprint over a specified period of time if the customer is not fully satisfied. As such, we record a reserve for estimated sales returns and allowances as a reduction of revenue, based on historical experience or the specific identification of an event necessitating a reserve. Actual sales returns have historically not been significant.

We have elected to recognize shipping and handling activities that occur after transfer of control of the products as fulfillment activities and not as a separate performance obligation. Accordingly, we recognize revenue for our single performance obligation upon the transfer of control of the fulfilled orders, which generally occurs upon delivery to the shipping carrier. If revenue is recognized prior to completion of the shipping and handling activities, we accrue the costs of those activities. We do have some arrangements whereby the transfer of control, and thus

revenue recognition, occurs upon delivery to the customer. If multiple products are ordered together, each product is considered a separate performance obligation, and the transaction price is allocated to each performance obligation based on the standalone selling price. Revenue is recognized upon satisfaction of each performance obligation. We generally determine the standalone selling prices based on the prices charged to our customers.

Our products are customized for each individual customer with no alternative use except to be delivered to that specific customer; however, we do not have an enforceable right to payment prior to delivering the items to the customer based on the terms and conditions of our arrangements with customers and therefore we recognize revenue at a point in time.

We record deferred revenue when cash payments are received in advance of our satisfaction of the related performance obligation. The satisfaction of performance obligations generally occurs shortly after cash payment and we expect to recognize our deferred revenue balance as revenue within three months subsequent to June 30, 2021.

We periodically provide marketing materials and promotional offers to new customers and existing customers that are intended to improve customer retention. These incentive offers are generally available to all customers and, therefore, do not represent a performance obligation as customers are not required to enter into a contractual commitment to receive the offer. These discounts are recognized as a reduction to the transaction price when used by the customer. Costs related to free products are included within cost of revenue and sample products are included within marketing and selling expense.

We have elected to expense incremental direct costs as incurred, which primarily includes sales commissions, since our contract periods generally are less than one year and the related performance obligations are satisfied within a short period of time.

Costs Associated with Exit or Disposal Activity or Restructuring [Policy Text Block]

Restructuring

Restructuring costs are recorded in connection with initiatives designed to improve efficiency or enhance competitiveness. Restructuring initiatives require us to make estimates in several areas, including expenses for severance and other employee separation costs and our ability to generate sublease income to enable us to terminate lease obligations at the estimated amounts. One-time termination benefits are expensed at the date we notify the employee, unless the employee must provide future service beyond the statutory minimum retention period, in which case the benefits are expensed ratably over the future service period. Liabilities for costs associated with a facility exit or disposal activity are recognized when the liability is incurred, as opposed to when management commits to an exit plan, and are measured at fair value. Restructuring costs are presented as a separate financial statement line within our consolidated statement of operations.

For jurisdictions in which there are statutorily required minimum benefits for involuntary terminations, or severance benefits documented in an employee manual or labor contract, we evaluate these benefits as ongoing benefit arrangements. We recognize the liability for these arrangements when it is probable that the employee would be entitled to the benefits and the amounts can be reasonably estimated.

Advertising Cost [Policy Text Block]

Advertising Expense

Our advertising costs are primarily expensed as incurred and included in marketing and selling expense. Advertising expense for the years ended June 30 2021, 2020 and 2019 was $333,665, $302,449 and $427,673, respectively, which consisted of external costs related to customer acquisition and retention marketing campaigns.

Research and Development Expense, Policy [Policy Text Block]

Research and Development Expense

Research and development costs are expensed as incurred and included in technology and development expense. Research and development expense for the years ended June 30 2021, 2020 and 2019 was $49,254, $49,201, and $40,976, respectively, which consisted of costs related to enhancing our manufacturing engineering and technology capabilities.

Income Tax, Policy [Policy Text Block]

Income Taxes

As part of the process of preparing our consolidated financial statements, we calculate our income taxes in each of the jurisdictions in which we operate. This process involves estimating our current tax expense and deferred tax expense based on assessing temporary and permanent differences resulting from differing treatment of items for tax and financial reporting purposes. We recognize deferred tax assets and liabilities for the temporary differences using the enacted tax rates and laws that will be in effect when we expect temporary differences to reverse. We assess the ability to realize our deferred tax assets based upon the weight of available evidence both positive and negative. To the extent we believe that it is more likely than not that some portion or all of the deferred tax assets will not be realized, we establish a valuation allowance. In the event that actual results differ from our estimates or we adjust our estimates in the future, we may need to increase or decrease income tax expense, which could have a material impact on our financial position and results of operations.

We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based on the technical merits of the tax position. The tax benefits recognized in our financial statements from such positions are measured as the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The unrecognized tax benefits will reduce our effective tax rate if recognized. Interest and, if applicable, penalties related to unrecognized tax benefits are recorded in the provision for income taxes. Stranded income tax effects in accumulated other comprehensive income or loss are released on an item-by-item basis based on when the applicable derivative is recognized in earnings. We account for investment tax credits using the “deferral” method, under which the tax benefit from an investment tax credit is deferred and amortized over the book life of the related property.

During the three months ended December 31, 2020, the tax on Global Intangible Low-Taxed Income (“GILTI”) provision of the Tax Cuts and Jobs Act became applicable to our operations. Companies subject to GILTI have the option to account for the GILTI tax as a period cost if and when incurred, or to recognize deferred taxes for temporary differences, including outside basis differences, expected to reverse as GILTI. We elected to account for GILTI as a period cost, as incurred. We do not expect GILTI to have a material impact on our consolidated financial statements.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations of Credit Risk

We monitor the creditworthiness of our customers to which we grant credit terms in the normal course of business. We do not have any customers that accounted for greater than 10% of our accounts receivable as of June 30, 2021 and 2020. We do not have any customers that accounted for greater than 10% of our revenue for the years ended June 30, 2021, 2020 and 2019.

We maintain an allowance for doubtful accounts for potential credit losses based upon specific customer accounts and historical trends, and such losses to date in the aggregate have not materially exceeded our expectations.

Lessee, Leases [Policy Text Block]

Lease Accounting

We determine if an arrangement contains a lease at contract inception. We consider an arrangement to be a lease if it conveys the right to control an identifiable asset for a period of time. Costs for operating leases that include incentives such as payment escalations or rent abatements are recognized on a straight-line basis over the term of the lease. Additionally, inducements received are treated as a reduction of our costs over the term of the agreement. Leasehold improvements are capitalized at cost and amortized over the shorter of their expected useful life or the lease term, excluding renewal periods.

Lease right-of-use ("ROU") assets and liabilities for operating and finance leases are recognized based on the present value of the future lease payments over the lease term at lease commencement date. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the lease commencement date. Our incremental borrowing rate approximates the interest rate on a collateralized basis for the economic environments where our leased assets are located, and is established by considering the credit spread associated with our existing debt arrangements, as well as observed market rates for instruments with a similar term to that of the lease payments. ROU assets also include any lease payments made at or before the lease commencement, as well as any initial direct costs incurred. Lease incentives received from the lessor are recognized as a reduction to the ROU asset.

Our initial determination of the lease term is based on the facts and circumstances that exist at lease commencement. The lease term may include the effect of options to extend or terminate the lease when it is reasonably certain that those options will be exercised. We consider these options reasonably certain to be exercised based on our assessment of economic incentives, including the fair market rent for equivalent properties under similar terms and conditions, costs of relocating, availability of comparable replacement assets, and any related disruption to operations that would be experienced by not renewing the lease.

Finance leases are accounted for as an acquisition of an asset and incurrence of an obligation. Assets held under finance leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease, and amortized over the useful life of the asset. The corresponding finance lease obligation is recorded at the present value of the minimum lease payments at inception of the lease.

Operating leases are included in operating lease assets and current and non-current operating lease liabilities in the consolidated balance sheets. Finance lease assets are included in property, plant, and equipment, net, and the related liabilities are included in other current liabilities and other liabilities in the consolidated balance sheets.

Variable lease payments are excluded from the operating lease assets and liabilities and are recognized as expense in the period in which the obligation is incurred. Variable lease payments primarily include index-based rent escalation associated with some of our real estate leases, as well as property taxes and common area maintenance payments for most real estate leases, which are determined based on the costs incurred by the lessor. We also make variable lease payments for certain print equipment leases that are determined based on production volumes.

For lease arrangements where we are deemed to be involved in the construction of structural improvements prior to the commencement of the lease or take some level of construction risk, we are considered the owner of the assets during the construction period. Accordingly, as the lessor incurs the construction project costs, the assets and corresponding financial obligation are recorded in our consolidated balance sheet. Once the construction is completed, if the lease meets certain “sale-leaseback” criteria, we will remove the asset and related financial obligation from the balance sheet and treat the building lease as either an operating or finance lease based on our

assessment of the guidance. If, upon completion of construction, the project does not meet the “sale-leaseback” criteria, the lease will be treated as a financing obligation and we will depreciate the asset over its estimated useful life for financial reporting purposes.

We have subleased a small amount of our equipment and real estate lease portfolio to third parties, making us the lessor. Most of these subleases meet the criteria for operating lease classification and the related sublease income is recognized on a straight-line basis over the lease term within the consolidated statement of operations. To a lesser extent, we have leases in which we are the lessees, classify the leases as finance leases and have subleased the asset under similar terms, resulting in their classification as direct financing leases. For direct financing leases, we recognize a sublease receivable within prepaid expenses and other current assets and other assets in the consolidated balance sheets.

Compensated Absences Policy [Policy Text Block]

Sabbatical LeaveCompensation expense associated with a sabbatical leave, or other similar benefit arrangements, is accrued over the requisite service period during which an employee earns the benefit, net of estimated forfeitures, and is included in other liabilities on our consolidated balance sheets.

Share-Based Compensation

Share-based Compensation

Compensation expense for all share-based awards is measured at fair value on the date of grant and recognized over the requisite service period. We recognize the impact of forfeitures as they occur. The fair value of share options is determined using the Black-Scholes valuation model, or lattice model for share options with a market condition or subsidiary share options. The fair value of RSUs is determined based on the quoted price of our ordinary shares on the date of the grant. Such value is recognized ratably as expense over the requisite service period, or on an accelerated method for awards with a performance or market condition. For awards that are ultimately settleable in cash, we treat them as liability awards and mark the award to market each reporting period recognizing any gain or loss in our statements of operations. For awards with a performance condition vesting feature, compensation cost is recorded if it is probable that the performance condition will be achieved.

We have issued PSUs, and we calculate the fair value at grant which is fixed throughout the vesting period. The fair value is determined using a Monte Carlo simulation valuation model. As the PSUs include both a service and market condition the related expense is recognized using the accelerated expense attribution method over the requisite service period for each separately vesting portion of the award. For PSUs that meet the service vesting condition, the expense recognized over the requisite service period will not be reversed if the market condition is not achieved.

Total share-based compensation expense was $37,034, $34,874 and $21,716 for the years ended June 30 2021, 2020 and 2019, respectively.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

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.

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

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Interest and Other Income

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


	Year Ended June 30,
		2021		2020		2019
(Losses) gains on derivatives not designated as hedging instruments (1)		$	(20,728)	$	20,564	$	23,494
Currency-related gains (losses), net (2)		8,523		2,309		2,506
Other gains		370		1		476
Total other (expense) income, net		$	(11,835)	$	22,874	$	26,476

_____________________

June 30, 2021 as compared to unrealized gains of $929 for the year ended June 30, 2020, and unrealized losses of $3,484 for the year ended June 30, 2019.

Schedule of Weighted Average Number of Shares

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


	Year Ended June 30,
		2021	2020	2019
Weighted average shares outstanding, basic		25,996,572	27,180,744	30,786,349
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/warrants (1)		—	592,542	876,356
Shares used in computing diluted net (loss) income per share attributable to Cimpress plc		25,996,572	27,773,286	31,662,705
Weighted average anti-dilutive shares excluded from diluted net (loss) income per share attributable to Cimpress plc (2)		494,329	1,325	—

_____________________

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

Debt Securities, Held-to-maturity

The following is a summary of the held-to-maturity securities by type as of June 30, 2021 and as of June 30, 2020 we held no marketable securities:


	Amortized cost		Unrealized losses		Fair value
June 30, 2021
Commercial paper	$	74,463	$	(28)	$	74,435
Corporate debt securities	128,498		(147)		128,351
Total	$	202,961	$	(175)	$	202,786

The following table summarizes the net carrying amount and fair value of the held-to maturity securities by contractual maturity.


	Amortized cost		Fair value
Due within one year or less
Commercial paper and corporate debt securities	$	152,248	$	152,163
Due after one year through two years
Corporate debt securities	50,713		50,623
Total	$	202,961	$	202,786

Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2021

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:


	June 30, 2021
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets


Currency forward contracts	$	1,679	$	—	$	1,679	$	—

Total assets recorded at fair value	$	1,679	$	—	$	1,679	$	—

Liabilities
Interest rate swap contracts	$	(25,193)	$	—	$	(25,193)	$	—
Cross-currency swap contracts	(9,914)		—		(9,914)		—
Currency forward contracts	(19,651)		—		(19,651)		—
Currency option contracts	(3,080)		—		(3,080)		—
Total liabilities recorded at fair value	$	(57,838)	$	—	$	(57,838)	$	—


	June 30, 2020
	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	$	4,462	$	—	$	4,462	$	—
Currency forward contracts	7,949		—		7,949		—
Currency option contracts	1,429		—		1,429		—
Total assets recorded at fair value	$	13,840	$	—	$	13,840	$	—

Liabilities
Interest rate swap contracts	$	(39,520)	$	—	$	(39,520)	$	—
Cross-currency swap contracts	(4,746)		—		(4,746)		—
Currency forward contracts	(8,519)		—		(8,519)		—
Currency option contracts	(38)		—		(38)		—
Total liabilities recorded at fair value	$	(52,823)	$	—	$	(52,823)	$	—

Derivative Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

As of June 30, 2021, we had fourteen outstanding interest rate swap contracts indexed to USD LIBOR, three of which are not highly effective and are therefore not designated for hedge accounting. These hedges have varying start dates and maturity dates through April 2028.


Interest rate swap contracts outstanding:	Notional Amounts
Contracts accruing interest as of June 30, 2021	$	500,000
Contracts with a future start date	330,000
Total	$	830,000

Derivatives Not Designated as Hedging Instruments

Notional Amount

Effective Date

Maturity Date

Number of Instruments

Index

$499,084

September 2019 through June 2021

Various dates through October 2024

596

Various


		Amount of Gain (Loss) Recognized in Net (Loss) Income						Affected line item in the Statement of Operations
	Year Ended June 30,
		2021		2020		2019
Currency contracts		$	(24,235)	$	20,882	$	24,215	Other (expense) income, net
Interest rate swaps		3,507		(318)		(721)		Other (expense) income, net
Total		$	(20,728)	$	20,564	$	23,494

Derivative Instruments in Statement of Financial Position, Fair Value


	June 30, 2021
	Asset Derivatives							Liability Derivatives
	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 designated as hedging instruments
Derivatives in cash flow hedging relationships
Interest rate swaps	Other current assets / other assets	$	—	$	—	$	—	Other current liabilities / other liabilities	$	(23,527)	$	176	$	(23,351)
Cross-currency swaps	Other assets	—		—		—		Other liabilities	(9,914)		—		(9,914)
Derivatives in net investment hedging relationships

Currency forward contracts	Other assets	—		—		—		Other current liabilities / other liabilities	(11,379)		—		(11,379)
Total derivatives designated as hedging instruments		$	—	$	—	$	—		$	(44,820)	$	176	$	(44,644)

Derivatives not designated as hedging instruments
Interest rate swaps	Other assets	$	—	$	—	$	—	Other liabilities	$	(1,842)	$	—	$	(1,842)
Currency forward contracts	Other current assets / other assets	1,796		(117)		1,679		Other current liabilities / other liabilities	(11,510)		3,238		(8,272)
Currency option contracts	Other current assets / other assets	—		—		—		Other current liabilities / other liabilities	(3,315)		235		(3,080)
Total derivatives not designated as hedging instruments		$	1,796	$	(117)	$	1,679		$	(16,667)	$	3,473	$	(13,194)


	June 30, 2020
	Asset Derivatives							Liability Derivatives
	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 designated as hedging instruments
Derivatives in cash flow hedging relationships
Interest rate swaps	Other current assets / other assets	$	—	$	—	$	—	Other liabilities	$	(31,161)	$	—	$	(31,161)
Cross-currency swaps	Other assets	4,462		—		4,462		Other liabilities	(4,746)		—		(4,746)
Derivatives in net investment hedging relationships
Currency forward contracts	Other assets	—		—		—		Other current liabilities / other liabilities	(6,829)		—		(6,829)
Total derivatives designated as hedging instruments		$	4,462	$	—	$	4,462		$	(42,736)	$	—	$	(42,736)

Derivatives not designated as hedging instruments
Interest rate swaps	Other assets	$	—	$	—	$	—	Other liabilities	$	(8,359)	$	—	$	(8,359)
Currency forward contracts	Other current assets / other assets	9,702		(1,753)		7,949		Other current liabilities / other liabilities	(2,136)		446		(1,690)
Currency option contracts	Other current assets / other assets	1,699		(270)		1,429		Other current liabilities / other liabilities	(38)		—		(38)
Total derivatives not designated as hedging instruments		$	11,401	$	(2,023)	$	9,378		$	(10,533)	$	446	$	(10,087)

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


		Amount of Net Gain (Loss) on Derivatives Recognized in Comprehensive Income
	Year Ended June 30,
		2021		2020		2019
Derivatives in cash flow hedging relationships
Interest rate swaps		$	3,340	$	(28,259)	$	(20,400)
Cross-currency swaps		6,996		3,689		(3,009)
Derivatives in net investment hedging relationships
Cross-currency swaps		—		—		6,557
Currency forward contracts		(19,052)		21,240		14,726
Total		$	(8,716)	$	(3,330)	$	(2,126)

Reclassification out of Accumulated Other Comprehensive Income

The following table presents reclassifications out of accumulated other comprehensive loss for the years ended June 30, 2021, 2020 and 2019:


		Amount of Net Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income						Affected line item in the Statement of Operations
	Year Ended June 30,
		2021		2020		2019
Derivatives in cash flow hedging relationships
Interest rate swaps		$	6,967	$	3,041	$	144	Interest expense, net
Cross-currency swaps		(10,950)		4,583		5,098		Other (expense) income, net
Total before income tax		(3,983)		7,624		5,242		(Loss) income before income taxes
Income tax		(106)		(1,850)		(1,310)		Income tax expense (benefit)
Total		$	(4,089)	$	5,774	$	3,932

Property, Plant and Equipment [Line Items]

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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+ Details

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Table Text Block]

Property, plant, and equipment, net consists of the following:


		June 30,
	Estimated useful lives	2021		2020
Land improvements	10 years	$	5,053	$	4,975
Building and building improvements (1)	10 - 30 years	191,653		186,873

Machinery and production equipment	4 - 10 years	380,013		362,341
Machinery and production equipment under finance lease	4 - 10 years	73,321		64,337
Computer software and equipment	3 - 5 years	119,742		160,728
Furniture, fixtures and office equipment	5 - 7 years	38,357		47,823
Leasehold improvements	Shorter of lease term or expected life of the asset	64,060		73,072
Construction in progress		7,242		10,752
		879,441		910,901
Less accumulated depreciation, inclusive of assets under finance lease		(583,752)		(604,061)
		295,689		306,840
Land		32,990		31,819
Property, plant, and equipment, net		$	328,679	$	338,659

_________________

Business Combinations (Tables)

3 Months Ended

Jun. 30, 2021

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The table below details the consideration transferred to acquire 99designs:


Cash consideration (paid at closing)	$	45,000
Fair value of deferred payment	43,381
Final post closing adjustment	310
Total purchase price	$	88,691

The fair value of the assets acquired and liabilities assumed was:

Amount

Weighted Average Useful Life in Years

Tangible assets acquired and liabilities assumed:

Cash and cash equivalents

8,603

n/a

Accounts receivable, net

494

n/a

Prepaid expenses and other current assets

787

n/a

Property, plant and equipment, net

n/a

Other assets

142

n/a

Accounts payable

(220)

n/a

Accrued expenses

(6,299)

n/a

Deferred revenue

(5,806)

n/a

Other liabilities

(625)

n/a

Identifiable intangible assets:

Trade name

1,550

2 years

Developed technology

13,400

3 years

Designer network

5,800

7 years

Goodwill

70,792

n/a

Total purchase price

88,691

n/a

Goodwill (Tables)

12 Months Ended

Jun. 30, 2021

Acquired Finite-Lived Intangible Assets [Line Items]

Schedule of goodwill

The carrying amount of goodwill by reportable segment as of June 30, 2021 and June 30, 2020 was as follows:


	Vistaprint		PrintBrothers		The Print Group		All Other Businesses		Total
Balance as of June 30, 2019	$	145,961	$	124,089	$	198,363	$	216,033	$	718,880
Acquisitions (1)	—		6,879		—		—		6,879

Impairment (2)	—		—		(40,391)		(26,017)		(100,842)
Adjustments (3)	3,919		—		—		(3,919)		—
Effect of currency translation adjustments (4)	966		(1,204)		(2,775)		—		(3,013)
Balance as of June 30, 2020	$	150,846	$	129,764	$	155,197	$	186,097	$	621,904
Acquisitions (1)	70,792		—		—		14,208		85,000



Effect of currency translation adjustments (4)	3,509		7,543		9,023		—		20,075
Balance as of June 30, 2021	$	225,147	$	137,307	$	164,220	$	200,305	$	726,979

_________________

(2) During the third quarter of fiscal year 2020 we recognized an impairment of goodwill; please refer below for further detail.

(4) Related to goodwill held by subsidiaries whose functional currency is not the U.S. dollar.

Schedule of Acquired Indefinite-lived Intangible Assets by Major Class [Table Text Block]


	June 30, 2021						June 30, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade name	$	152,347	$	(59,432)	$	92,915	$	144,168	$	(45,570)	$	98,598
Developed technology	99,905		(71,255)		28,650		84,171		(56,763)		27,408
Customer relationships	199,294		(152,410)		46,884		190,329		(123,857)		66,472
Customer network and other	22,301		(14,431)		7,870		15,847		(11,696)		4,151
Print network	26,182		(15,757)		10,425		24,743		(12,144)		12,599
Total intangible assets	$	500,029	$	(313,285)	$	186,744	$	459,258	$	(250,030)	$	209,228

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]



2022	$	50,749
2023	41,425
2024	27,263
2025	15,103
2026	10,827
Thereafter	41,377
	$	186,744

Business Combinations (Tables)

3 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The table below details the consideration transferred to acquire 99designs:


Cash consideration (paid at closing)	$	45,000
Fair value of deferred payment	43,381
Final post closing adjustment	310
Total purchase price	$	88,691

The fair value of the assets acquired and liabilities assumed was:

Amount

Weighted Average Useful Life in Years

Tangible assets acquired and liabilities assumed:

Cash and cash equivalents

8,603

n/a

Accounts receivable, net

494

n/a

Prepaid expenses and other current assets

787

n/a

Property, plant and equipment, net

n/a

Other assets

142

n/a

Accounts payable

(220)

n/a

Accrued expenses

(6,299)

n/a

Deferred revenue

(5,806)

n/a

Other liabilities

(625)

n/a

Identifiable intangible assets:

Trade name

1,550

2 years

Developed technology

13,400

3 years

Designer network

5,800

7 years

Goodwill

70,792

n/a

Total purchase price

88,691

n/a

Other Balance Sheet Components (Tables)

12 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

Accrued expenses

Accrued expenses included the following:


	June 30, 2021		June 30, 2020
Compensation costs	$	73,861	$	67,307
Income and indirect taxes	46,074		53,161
Advertising costs (1)	35,093		14,746
Shipping costs	9,401		5,080
Production costs	6,881		7,012
Sales returns	5,636		5,166
Professional fees	4,210		3,452
Interest payable (2)	2,399		8,359
Purchases of property, plant and equipment	1,110		1,685
Other (3)	62,848		44,796
Total accrued expenses	$	247,513	$	210,764

_________________

(2) The decrease in interest payable is due to the redemption of our 12% second lien notes during the fourth quarter of fiscal year 2021. Refer to Note 10 for additional details.

(3) The increase in other accrued expenses is due to an increase in accrued expenses for third-party cloud computing as compared to fiscal year 2020.

Other Current Liabilities

Other current liabilities included the following:


	June 30, 2021		June 30, 2020
Current portion of finance lease obligations (1)	$	32,314	$	8,055
Short-term derivative liabilities	20,530		3,521


Other (2)	50,671		1,692
Total other current liabilities	$	103,515	$	13,268

_____________________

(2) The increase in other current liabilities is driven by the deferred payment related to the 99designs acquisition totaling $44,423 due in February 2022. Refer to Note 7 for additional details.

Other Liabilities

Other liabilities included the following:


	June 30, 2021		June 30, 2020
Long-term finance lease obligations	$	18,528	$	18,617
Long-term derivative liabilities	41,074		51,800


Other	36,808		17,770
Total other liabilities	$	96,410	$	88,187

Debt (Tables)

12 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Debt


	June 30, 2021		June 30, 2020
7.0% Senior notes due 2026	$	600,000	$	600,000
Senior secured credit facility	1,152,021		570,483
12.0% Senior secured notes due 2025	—		300,000
Other	12,835		11,694
Debt issuance costs and debt premiums (discounts)	(22,450)		(48,587)
Total debt outstanding, net	1,742,406		1,433,590
Less: short-term debt (1)	9,895		17,933
Long-term debt	$	1,732,511	$	1,415,657

_____________________

(1) Balances as of June 30, 2021 and June 30, 2020 are inclusive of short-term debt issuance costs, debt premiums and discounts of $3,435 and $10,362, respectively.

Shareholders' Equity (Tables)

12 Months Ended

Jun. 30, 2021

Shareholders' Equity [Abstract]

Share-based Payment Arrangement, Option, Activity

We did not grant any share options in fiscal year 2021. A summary of our share option activity and related information for the year ended June 30, 2021 is as follows:


	Shares Pursuant to Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at the beginning of the period	110,538	$	55.27	1.0
Granted	—	—
Exercised	(105,240)	54.02
Forfeited/expired	—	—
Outstanding at the end of the period	5,298	80.01		3.8	$	150
Exercisable at the end of the period	5,298	$	80.01	3.8	$	150

Share-based Payment Arrangement, Performance Shares, Activity

A summary of our PSU activity and related information for the fiscal year ended June 30, 2021 is as follows:


	PSUs	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at the beginning of the period	1,034,197	$	133.89
Granted	228,132	129.25
Vested and distributed	—	—
Forfeited	(103,613)	117.40
Outstanding at the end of the period	1,158,716	$	134.45	$	125,616

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

A summary of our RSU activity and related information for the fiscal year ended June 30, 2021 is as follows:


	RSUs	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Unvested at the beginning of the period	177,233	$	47.06
Granted	453,916	93.64
Vested and distributed	(180,494)	47.92
Forfeited	(16,266)	96.03
Unvested at the end of the period	434,389	$	93.54	$	47,092

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The following is a summary of our income (loss) before income taxes by geography:


	Year Ended June 30,
	2021		2020		2019
U.S.	$	2,546	$	(58,765)	$	(10,879)
Non-U.S.	(58,582)		61,768		137,791
Total	$	(56,036)	$	3,003	$	126,912

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the provision (benefit) for income taxes are as follows:


	Year Ended June 30,
	2021		2020		2019
Current:
U.S. Federal	$	(93)	$	(16,269)	$	84
U.S. State	546		213		1,130
Non-U.S.	28,205		22,361		26,862
Total current	28,658		6,305		28,076
Deferred:
U.S. Federal	(1,573)		12,980		(1,347)
U.S. State	(31)		3,213		(183)
Non-U.S.	(8,151)		(103,490)		6,886
Total deferred	(9,755)		(87,297)		5,356
Total	$	18,903	$	(80,992)	$	33,432

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following is a reconciliation of the standard U.S. federal statutory tax rate and our effective tax rate:


	Year Ended June 30,
	2021		2020		2019
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal effect	3.6		(130.1)		(1.0)
Tax rate differential on non-U.S. earnings	(21.8)		(408.4)		(7.2)
Swiss tax reform	—		(3,779.0)		—
Compensation related items	0.2		(420.7)		0.7
U.S. tax reform	—		(372.6)		3.7
Goodwill impairment	—		759.1		2.0
Change in valuation allowance	(30.8)		1,277.5		(1.7)
Irish foreign tax credit	10.0		262.3		(19.1)
Tax on repatriated earnings	(4.4)		154.1		8.0
Gain/loss on sale of subsidiary	—		(189.2)		—
Notional interest deduction (Italy)	1.6		(47.9)		(0.8)
Patent box (Italy)	—		(24.2)		(3.4)
Tax credits and incentives	4.0		(88.3)		(3.6)
Non-US tax rate changes	1.4		81.7		0.1
Business and withholding taxes	(0.4)		28.7		0.8
Uncertain tax positions	(1.1)		28.8		(0.1)
Nondeductible interest expense	(19.4)		157.4		1.3
Other non-deductible expenses	0.6		47.5		1.5
Tax on unremitted earnings	(1.0)		31.4		8.0
Change in tax residence	—		—		20.5
Changes to variable interest entities	—		—		(2.5)
Changes to derivative instruments	1.8		—		4.5
Other	1.0		(86.1)		(6.4)
Effective income tax rate	(33.7)	%	(2,697.0)	%	26.3	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of our deferred income tax assets and liabilities consisted of the following at June 30, 2021 and 2020:


	June 30, 2021		June 30, 2020
Deferred tax assets:
Swiss tax reform amortizable goodwill	$	124,372	$	127,965
Net operating loss carryforwards	73,534		62,374
Leases	31,363		33,078
Depreciation and amortization	9,136		4,308
Accrued expenses	9,538		6,253
Share-based compensation	11,192		9,482
Credit and other carryforwards	39,109		29,216
Derivative financial instruments	8,226		6,739
Other	5,774		7,551
Subtotal	312,244		286,966
Valuation allowance	(113,917)		(91,575)
Total deferred tax assets	198,327		195,391
Deferred tax liabilities:
Depreciation and amortization	(28,187)		(41,017)

Leases	(24,920)		(30,433)
Investment in flow-through entity	(5,003)		(3,550)
Tax on unremitted earnings	(6,877)		(6,203)

Italy tax suspension reserve	(4,528)		—
Other	(6,627)		(4,502)
Total deferred tax liabilities	(76,142)		(85,705)
Net deferred tax assets	$	122,185	$	109,686

Summary of Valuation Allowance [Table Text Block]

A reconciliation of the beginning and ending amount of the valuation allowance for the year ended June 30, 2021 is as follows:


Balance at June 30, 2020	$	91,575
Charges to earnings (1)	17,214
Charges to other accounts (2)	5,128
Balance at June 30, 2021	$	113,917

_________________

Noncontrolling interests (Tables)

12 Months Ended

Jun. 30, 2021

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 redeemable noncontrolling interests:


	Redeemable noncontrolling interests
Balance as of June 30, 2019	$	63,182

Acquisition of noncontrolling interest (1)	3,995

Accretion to redemption value recognized in retained earnings (2)	5,493
Net income attributable to noncontrolling interest	630
Distribution to noncontrolling interest (3)	(3,955)


Foreign currency translation	(239)
Balance as of June 30, 2020	69,106

Acquisition of noncontrolling interest (1)	4,370

Accretion to redemption value recognized in retained earnings (2)	3,049
Net income attributable to noncontrolling interest	2,772
Distribution to noncontrolling interest (3)	(4,746)
Purchase of noncontrolling interest	(5,063)

Foreign currency translation	1,632
Balance as of June 30, 2021	$	71,120

Segment Information (Tables)

12 Months Ended

Jun. 30, 2021

Segment Reporting, Revenue Reconciling Item [Line Items]

Reconciliation of Revenue from Segments to Consolidated

The following tables set forth revenue by reportable segment, as well as disaggregation of revenue by major geographic region and reportable segment.


	Year Ended June 30,
		2021		2020		2019
Revenue:
Vistaprint		$	1,444,807	$	1,337,291	$	1,508,322
PrintBrothers		421,766		417,921		443,987
The Print Group		275,534		275,214		325,872
National Pen		313,528		299,474		348,409
All Other Businesses		192,038		173,789		136,202
Total segment revenue		2,647,673		2,503,689		2,762,792
Inter-segment eliminations (1)		(55,160)		(22,331)		(11,716)
Total consolidated revenue		$	2,592,513	$	2,481,358	$	2,751,076

_____________________

(1) Refer to the "Revenue by Geographic Region" tables below for detail of the inter-segment revenue within each respective segment.

Revenue from External Customers by Geographic Areas [Table Text Block]

The following tables set forth revenues by geographic area and groups of similar products and services:


	Year Ended June 30,
		2021		2020		2019
United States		$	1,199,436	$	1,251,531	$	1,361,438
Germany (1)		350,281		351,348		367,375
Other (2)		1,042,796		878,479		1,022,263
Total revenue		$	2,592,513	$	2,481,358	$	2,751,076

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table includes segment EBITDA by reportable segment, total income from operations and total (loss) income before income taxes:


	Year Ended June 30,
		2021		2020		2019
Segment EBITDA:
Vistaprint		$	324,715	$	366,334	$	349,697
PrintBrothers		43,144		39,373		43,474
The Print Group		43,126		51,606		63,997
National Pen		11,644		7,605		17,299
All Other Businesses		31,707		17,474		(6,317)
Total segment EBITDA		454,336		482,392		468,150
Central and corporate costs		(135,398)		(140,398)		(117,295)
Depreciation and amortization		(173,212)		(167,943)		(172,957)
Waltham, MA lease depreciation adjustment (1)		—		—		4,120
Proceeds from insurance		(122)		—		—
Earn-out related charges		—		54		—
Share-based compensation related to investment consideration		—		—		(2,893)
Certain impairments and other adjustments (2)		(20,453)		(104,593)		(10,700)
Restructuring-related charges		(1,641)		(13,543)		(12,054)
Interest expense for Waltham, MA lease (1)		—		—		7,236

Total income from operations		123,510		55,969		163,607
Other (expense) income, net		(11,835)		22,874		26,476
Interest expense, net		(119,368)		(75,840)		(63,171)
Loss on early extinguishment of debt		(48,343)		—		—
(Loss) income before income taxes		$	(56,036)	$	3,003	$	126,912

___________________

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated


	Year Ended June 30,
		2021		2020		2019
Depreciation and amortization:
Vistaprint		$	58,513	$	59,029	$	67,317
PrintBrothers		22,089		21,010		22,108
The Print Group		27,066		24,769		29,437
National Pen		25,123		23,654		21,642
All Other Businesses		19,811		23,755		17,068
Central and corporate costs		20,610		15,726		16,199
Total depreciation and amortization		$	173,212	$	167,943	$	173,771


	Year Ended June 30,
		2021		2020		2019
Purchases of property, plant and equipment:
Vistaprint		$	12,332	$	15,986	$	32,820
PrintBrothers		3,609		4,315		3,521
The Print Group		11,847		17,136		7,908
National Pen		3,603		5,016		8,346
All Other Businesses		5,466		4,242		16,996
Central and corporate costs		1,667		3,772		972
Total purchases of property, plant and equipment		$	38,524	$	50,467	$	70,563


	Year Ended June 30,
		2021		2020		2019
Capitalization of software and website development costs:
Vistaprint		$	28,297	$	18,381	$	23,369
PrintBrothers		1,465		990		1,787
The Print Group		1,603		1,484		2,327
National Pen		3,115		3,290		3,624
All Other Businesses		3,746		3,684		2,948
Central and corporate costs		22,711		16,163		14,597
Total capitalization of software and website development costs		$	60,937	$	43,992	$	48,652

Revenue from External Customers by Products and Services [Table Text Block]


	Year Ended June 30,
		2021		2020		2019
Physical printed products and other (3)		$	2,477,158	$	2,431,367	$	2,700,167
Digital products/services (4)		115,355		49,991		50,909
Total revenue		$	2,592,513	$	2,481,358	$	2,751,076

__________________

(1) Our revenues within the German market exceeded 10% of our total consolidated revenue. Therefore, we have presented Germany as a significant geographic area.

(2) Our other revenue includes Ireland, our country of domicile.

(3) Other revenue includes miscellaneous items which account for less than 1% of revenue.

Revenues and long-lived assets by geographic area

The following table sets forth long-lived assets by geographic area:


	June 30, 2021		June 30, 2020
Long-lived assets (1):
United States	$	107,868	$	161,853
Netherlands	75,996		82,897
Canada	60,779		67,367
Switzerland	68,880		58,013
Italy	47,776		46,317
Jamaica	20,550		21,563
Australia	21,298		19,695
France	25,417		23,917
Japan	14,891		15,430
Other	96,063		94,922
Total	$	539,518	$	591,974

___________________

Leases (Tables)

12 Months Ended

Jun. 30, 2021

Leasing Disclosures [Abstract]

Lease, Cost [Table Text Block]

The following table represents the lease expenses for the years ended June 30, 2021 and 2020:


	Year Ended
	June 30, 2021		June 30, 2020
Operating lease expense (1)	$	36,803	$	43,058
Finance lease expense:
Amortization of finance lease assets	5,557		5,766
Interest on lease liabilities	211		698
Variable lease expense	7,846		10,775
Less: sublease income	(2,309)		(3,545)
Net operating and finance lease cost	$	48,108	$	56,752

__________________

(1) The decrease in operating lease expense for the fiscal year ended June 30, 2021 is driven primarily by the Waltham lease modification described below.

Schedule of Capital Leased Assets

The following table presents the classification of right-of-use assets and lease liabilities as of June 30, 2021 and 2020:


Leases	Consolidated Balance Sheet Classification	June 30, 2021		June 30, 2020

Assets:
Operating right-of-use assets	Operating lease assets, net (1)	$	87,626	$	156,258
Finance right-of-use assets	Property, plant, and equipment, net (2)	35,384		20,842
Total lease assets		$	123,010	$	177,100
Liabilities:
Current:
Operating lease liabilities	Operating lease liabilities, current (1)	$	26,551	$	41,772
Finance lease liabilities	Other current liabilities (2)	32,314		8,055
Non-current:
Operating lease liabilities	Operating lease liabilities, non-current	66,222		128,963
Finance lease liabilities	Other liabilities	18,528		18,617
Total lease liabilities		$	143,615	$	197,407

__________________

(1) The decrease in operating lease assets and liabilities is due primarily to the Waltham lease modifications described below.

(2) The increase in finance lease assets and liabilities is due primarily to the lease modification described below within the "Other Lease Modification" section.

Schedule of Cash Flow, Supplemental Disclosures


	Year Ended
Supplemental Cash Flow Information	June 30, 2021		June 30, 2020
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases (1)	$	47,327	$	40,777
Operating cash flows from finance leases	211		698
Financing cash flows from finance leases	8,001		9,511

__________________

(1) The operating lease cash flows included $8,761 of termination fees for the Waltham lease modification as described below.

Lease Term and Discount Rate Disclosure

Other information about leases is as follows:


Lease Term and Discount Rate	June 30, 2021		June 30, 2020
Weighted-average remaining lease term (years):
Operating leases	4.28		6.18
Finance leases (1)	10.71		4.61
Weighted-average discount rate:
Operating leases	3.17	%	2.83	%
Finance leases	3.93	%	2.62	%

__________________

Schedule of Future Minimum Lease Payments for Capital Leases

Future minimum lease payments under non-cancelable leases as of June 30, 2021 were as follows:


Payments Due by Period	Operating lease obligations		Finance lease obligations		Total lease obligations
Less than 1 year	$	29,527	$	32,873	$	62,400
2 years	25,125		6,738		31,863
3 years	20,377		5,511		25,888
4 years	12,397		4,326		16,723
5 years	7,270		2,181		9,451
Thereafter	6,899		1,293		8,192
Total	101,595		52,922		154,517
Less: present value discount	(8,822)		(2,080)		(10,902)
Lease liability	$	92,773	$	50,842	$	143,615

Restructuring Charges (Tables)

12 Months Ended

Jun. 30, 2021

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs

The following table summarizes the restructuring activity during the years ended June 30, 2021 and 2020:


	Severance and Related Benefits		Other Restructuring Costs		Total
Accrued restructuring liability as of June 30, 2019	$	3,045	$	167	$	3,212
Restructuring charges	13,193		350		13,543
Cash payments	(8,647)		(440)		(9,087)
Non-cash charges (1)	(1,622)		—		(1,622)
Accrued restructuring liability as of June 30, 2020	5,969		77		6,046
Restructuring charges	998		643		1,641
Cash payments	(6,565)		—		(6,565)
Non-cash charges (1)	—		(720)		(720)
Accrued restructuring liability as of June 30, 2021	$	402	$	—	$	402

__________________

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	May 01, 2020
Accounting Policies [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		$ (20,728)	$ 20,564	$ 23,494
Foreign Currency Transaction Gain (Loss), Realized		8,523	2,309	2,506
Other Nonoperating Gains (Losses)		370	1	476
Total other (expense) income, net		$ (11,835)	22,874	$ 26,476
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	$ 7,211		$ 3,484
Weighted average shares outstanding — basic		25,996,572	27,180,744	30,786,349
Weighted average shares outstanding — diluted		25,996,572	27,773,286	31,662,705
Weighted average anti-dilutive shares excluded from diluted net (loss) income per share attributable to Cimpress plc (1)		494,329	1,325	0
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements		0	592,542	876,356
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 60	$ 60			$ 60
Income tax expense (benefit)		$ 18,903	$ (80,992)	$ 33,432
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 537	537	86
Bank Overdrafts			3,768
Advertising Expense		333,665	302,449	427,673
Research and Development Expense		49,254	49,201	40,976
Marketable Securities	202,961	202,961
Unrealized Gain (Loss) on Investments		(175)
Investments, Fair Value Disclosure	202,786	202,786
Marketable securities	152,248	152,248	0
Marketable securities, non-current	50,713	50,713	0
Capitalized Computer Software, Amortization		47,560	40,753	35,068
Capitalized Computer Software, Accumulated Amortization	231,482	231,482	180,993
Share-based compensation expense		37,034	34,874	21,716
Commercial Paper
Accounting Policies [Line Items]
Marketable Securities	74,463	74,463
Unrealized Gain (Loss) on Investments		(28)
Investments, Fair Value Disclosure	74,435	74,435
Corporate Debt Securities
Accounting Policies [Line Items]
Marketable Securities	128,498	128,498
Unrealized Gain (Loss) on Investments		(147)
Investments, Fair Value Disclosure	128,351	128,351
General and administrative expense
Accounting Policies [Line Items]
Share-based compensation expense		20,637	$ 21,061	12,882
Marketable securities, current [Member]
Accounting Policies [Line Items]
Investments, Fair Value Disclosure	152,163	152,163
Marketable securities, noncurrent [Member]
Accounting Policies [Line Items]
Investments, Fair Value Disclosure	$ 50,623	$ 50,623
Warrant [Member]
Accounting Policies [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements		368,933	73,719
Foreign Exchange Forward [Member]
Accounting Policies [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		$ (24,235)	$ 20,882	24,215
Interest Rate Swap [Member]
Accounting Policies [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		3,507	$ (318)	$ (721)
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments		$ 3,422

Fair Value Measurements (Details) $ in Thousands	Jun. 30, 2021 USD ($) instrument	Jun. 30, 2020 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 1,742,406	$ 1,433,590
Debt Instrument, Fair Value Disclosure	1,767,209	1,450,719
Marketable Securities	202,961
Investments, Fair Value Disclosure	202,786
Debt, Gross [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, Long-term and Short-term, Combined Amount	1,764,856	1,482,177
Fair value, recurring measurements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	1,679	13,840
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 57,838	52,823
Foreign Exchange Forward [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Number of Instruments Held \| instrument	596
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset		4,462
Derivative Liability	$ (25,193)	39,520
Derivative, Number of Instruments Held \| instrument	14
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ (9,914)	(4,746)
Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,679	7,949
Derivative Liability	(19,651)
Foreign Exchange Option [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset		1,429
Derivative Liability	$ (3,080)	(38)
Cash Flow Hedging [Member] \| Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Number of Instruments Held \| instrument	2
Not Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 1,796	11,401
Derivative Liability	(13,194)	(10,087)
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,796	9,702
Foreign Currency Contract, Asset, Fair Value Disclosure	1,679	7,949
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Option [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	1,699
Foreign Currency Contract, Asset, Fair Value Disclosure	0	1,429
Fair Value, Inputs, Level 2 [Member] \| Fair value, recurring measurements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	1,679	13,840
Financial and Nonfinancial Liabilities, Fair Value Disclosure	57,838	52,823
Fair Value, Inputs, Level 2 [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset		4,462
Derivative Liability	(25,193)	39,520
Fair Value, Inputs, Level 2 [Member] \| Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	(9,914)	(4,746)
Fair Value, Inputs, Level 2 [Member] \| Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,679	7,949
Derivative Liability	(19,651)	8,519
Fair Value, Inputs, Level 2 [Member] \| Foreign Exchange Option [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset		1,429
Derivative Liability	$ (3,080)	$ (38)

Derivative Financial Instruments (Details) $ in Thousands	12 Months Ended
Derivative Financial Instruments (Details) $ in Thousands	Jun. 30, 2021 USD ($) instrument	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (20,728)	$ 20,564	$ 23,494
(Payments of) proceeds from settlement of derivatives designated as hedging instruments	3,291	29,791	12,016
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(8,716)	(3,330)	(2,126)
Foreign Exchange Option [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset		1,429
Derivative Liability	(3,080)	(38)
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset		4,462
Derivative Liability	(25,193)	39,520
Notional Amount of Interest Rate Derivatives	500,000
Notional value of contracts with future start date	330,000
Total current and future notional amount	$ 830,000
Derivative, Number of Instruments Held \| instrument	14
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 3,507	(318)	(721)
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	10,942
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 3,340	(28,259)	(20,400)
Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Number of Instruments Held \| instrument	596
Derivative, Notional Amount	$ 499,084
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (24,235)	20,882	24,215
Derivative, Underlying Basis	Various
Currency Swap [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 1,679	7,949
Derivative Liability	(19,651)
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	(9,914)	(4,746)
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	2,488
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	6,996	3,689	(3,009)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] \| Interest Expense [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	6,967	3,041	144
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] \| Other Income [Member] \| Currency Swap [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(10,950)	4,583	5,098
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	4,089	(5,774)	(3,932)
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 [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	3,983	(7,624)	(5,242)
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 [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (106)	(1,850)	(1,310)
Cash Flow Hedging [Member] \| Currency Swap [Member]
Derivative [Line Items]
Derivative, Number of Instruments Held \| instrument	2
Derivative, Notional Amount	$ 120,874
Net Investment Hedging [Member] \| Currency Swap [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 0	0	6,557
Net Investment Hedging [Member] \| Forward Contracts [Member]
Derivative [Line Items]
Derivative, Number of Instruments Held \| instrument	4
Derivative, Notional Amount	$ 118,203
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(19,052)	21,240	$ 14,726
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	4,462
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Liability, Fair Value, Gross Liability	(44,820)	(42,736)
Derivative Liability, Fair Value, Gross Asset	176	0
Derivative Liability	(44,644)	(42,736)
Derivative Asset		4,462
Interest Rate Cash Flow Hedge Asset at Fair Value	0
Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Liability, Fair Value, Gross Liability	(23,527)	(31,161)
Derivative Liability, Fair Value, Gross Asset	176	0
Interest Rate Cash Flow Hedge Liability at Fair Value	(23,351)	(31,161)
Interest Rate Cash Flow Hedge Asset at Fair Value	0	0
Designated as Hedging Instrument [Member] \| Currency Swap [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	4,462
Derivative Asset, Fair Value, Gross Liability		0
Derivative Liability, Fair Value, Gross Liability	(9,914)	(4,746)
Derivative Liability, Fair Value, Gross Asset	0	0
Designated as Hedging Instrument [Member] \| Net Investment Hedging [Member] \| Forward Contracts [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0
Derivative Asset, Fair Value, Gross Liability	0
Derivative Liability, Fair Value, Gross Liability	(11,379)	(6,829)
Derivative Liability, Fair Value, Gross Asset	0	0
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	(11,379)	(6,829)
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,796	11,401
Derivative Asset, Fair Value, Gross Liability	(117)	(2,023)
Derivative Liability, Fair Value, Gross Liability	(16,667)	(10,533)
Derivative Liability, Fair Value, Gross Asset	3,473	446
Derivative Liability	(13,194)	(10,087)
Derivative Asset	1,679	9,378
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Option [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	1,699
Derivative Asset, Fair Value, Gross Liability	0	270
Derivative Liability, Fair Value, Gross Liability	(3,315)	(38)
Derivative Liability, Fair Value, Gross Asset	235	0
Foreign Currency Contract, Asset, Fair Value Disclosure	0	1,429
Foreign Currency Contracts, Liability, Fair Value Disclosure	(3,080)	(38)
Not Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability	(1,842)	(8,359)
Derivative Liability, Fair Value, Gross Asset	0	0
Interest Rate Cash Flow Hedge Liability at Fair Value	(1,842)	(8,359)
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,796	9,702
Derivative Asset, Fair Value, Gross Liability	(117)	(1,753)
Derivative Liability, Fair Value, Gross Liability	(11,510)	(2,136)
Derivative Liability, Fair Value, Gross Asset	3,238	446
Foreign Currency Contract, Asset, Fair Value Disclosure	1,679	7,949
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ (8,272)	$ (1,690)
Minimum [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Maturity Date	Mar. 31, 2022
Minimum [Member] \| Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Maturity Date	Oct. 15, 2021
Minimum [Member] \| Currency Swap [Member]
Derivative [Line Items]
Derivative, Maturity Date	Jun. 19, 2024
Maximum [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Maturity Date	Apr. 30, 2028
Maximum [Member] \| Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Maturity Date	Apr. 14, 2023
Maximum [Member] \| Currency Swap [Member]
Derivative [Line Items]
Derivative, Maturity Date	Jun. 19, 2024

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI Tax, Attributable to Parent	$ 764	$ 1,709	$ 5,901
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss	(79,000)	(88,676)	(79,857)	$ (69,814)
Other comprehensive income (loss) before reclassifications	13,765	(14,593)	(13,975)
Amounts reclassified from accumulated other comprehensive loss to net (loss) income	(4,089)	5,774	3,932
Net current period other comprehensive income (loss)	9,676	(8,819)	(10,043)
Derivatives used in Net Investment Hedge, Net of Tax, Period Increase (Decrease)	1,457	20,509
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss	(23,831)	(30,078)	(11,282)	8,195
Other comprehensive income (loss) before reclassifications	10,336	(24,570)	(23,409)
Amounts reclassified from accumulated other comprehensive loss to net (loss) income	(4,089)	5,774	3,932
Net current period other comprehensive income (loss)	6,247	(18,796)	(19,477)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss	(53,434)	(57,199)	(68,371)	(78,009)
Other comprehensive income (loss) before reclassifications	3,765	11,172	9,638
Net current period other comprehensive income (loss)	3,765	11,172	9,638
Pension Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss	(1,735)	(1,399)	(204)	$ 0
Other comprehensive income (loss) before reclassifications	(336)	(1,195)	(204)
Net current period other comprehensive income (loss)	$ (336)	$ (1,195)	$ (204)

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Land improvements	$ 5,053	$ 4,975
Building and building improvements	191,653	186,873
Machinery and production equipment	380,013	362,341
Machinery and production equipment under capital lease	73,321	64,337
Computer software and equipment	119,742	160,728
Furniture, fixtures and office equipment	38,357	47,823
Leasehold improvements	64,060	73,072
Construction in progress	7,242	10,752
Property, Plant and Equipment, Gross	879,441	910,901
Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment, Period Increase (Decrease)	(583,752)	(604,061)
Property, Plant and Equipment, Other, Net	295,689	306,840
Land	32,990	31,819
Property, plant and equipment, net	328,679	338,659
Depreciation	$ 71,057	$ 74,665	$ 84,558

Business Combinations (Details) - USD ($) $ in Thousands	12 Months Ended
Business Combinations (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Business Acquisition [Line Items]
Goodwill	$ 726,979	$ 621,904	$ 718,880
Goodwill, Acquired During Period	$ 85,000	6,879
Identifiable intangible assets:
Goodwill, Transfers		$ 0

Business Combinations (tables) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Apr. 23, 2021	Oct. 01, 2018
Business Acquisition [Line Items]
Goodwill, Acquired During Period	$ 85,000	$ 6,879
Other Acquisition-Q4 FY21 [Domain]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	18,535
Goodwill, Acquired During Period	14,208
99designs acquisition [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	88,691
Goodwill, Acquired During Period	$ 70,792
Cimpress plc [Member] \| Other Acquisition-Q4 FY21 [Domain]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired			81.00%	99.00%

Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Goodwill [Line Items]
Goodwill	$ 726,979	$ 621,904	$ 718,880
Goodwill, Acquired During Period	85,000	6,879
Impairment of goodwill	0	(100,842)	(7,503)
Goodwill, Transfers		0
Goodwill, Foreign Currency Translation Gain (Loss)	20,075	(3,013)
Vistaprint Business [Member]
Goodwill [Line Items]
Goodwill	225,147	150,846	145,961
Goodwill, Acquired During Period	70,792	0
Goodwill, Transfers		3,919
Goodwill, Foreign Currency Translation Gain (Loss)	3,509	966
PrintBrothers [Member]
Goodwill [Line Items]
Goodwill	137,307	129,764	124,089
Goodwill, Acquired During Period	0	6,879
Goodwill, Foreign Currency Translation Gain (Loss)	7,543	(1,204)
The Print Group [Member]
Goodwill [Line Items]
Goodwill	164,220	155,197	198,363
Goodwill, Acquired During Period	0	0
Impairment of goodwill		(40,391)
Goodwill, Foreign Currency Translation Gain (Loss)	9,023	(2,775)
National Pen [Member]
Goodwill [Line Items]
Impairment of goodwill		(34,434)
All Other Businesses [Member]
Goodwill [Line Items]
Goodwill	200,305	186,097	$ 216,033
Goodwill, Acquired During Period	14,208	0
Impairment of goodwill		(26,017)
Goodwill, Transfers		(3,919)
Goodwill, Foreign Currency Translation Gain (Loss)	$ 0	$ 0

Goodwill Acquired Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ (313,285)	$ (250,030)
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	50,749
Finite-Lived Intangible Assets, Gross	500,029	459,258
Intangible assets, net	186,744	209,228
Finite-Lived Intangible Assets, Amortization Expense, Year Two	41,425
Finite-Lived Intangible Assets, Amortization Expense, Year Three	27,263
Finite-Lived Intangible Assets, Amortization Expense, Year Four	15,103
Finite-Lived Intangible Assets, Amortization Expense, Year Five	10,827
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	41,377
Amortization of acquired intangible assets	53,818	51,786	$ 53,256
Goodwill [Line Items]
Impairment of goodwill	0	100,842	$ 7,503
All Other Businesses [Member]
Goodwill [Line Items]
Impairment of goodwill		26,017
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	(59,432)	(45,570)
Finite-Lived Intangible Assets, Gross	152,347	144,168
Intangible assets, net	92,915	98,598
Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	(71,255)	(56,763)
Finite-Lived Intangible Assets, Gross	99,905	84,171
Intangible assets, net	28,650	27,408
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	(152,410)	(123,857)
Finite-Lived Intangible Assets, Gross	199,294	190,329
Intangible assets, net	46,884	66,472
Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	(14,431)	(11,696)
Finite-Lived Intangible Assets, Gross	22,301	15,847
Intangible assets, net	7,870	4,151
Print Network [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	(15,757)	(12,144)
Finite-Lived Intangible Assets, Gross	26,182	24,743
Intangible assets, net	$ 10,425	$ 12,599

Business Combinations (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Business Combinations (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Goodwill, Acquired During Period		$ 85,000	$ 6,879
99designs acquisition [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred		43,381
Business Combination, Consideration Transferred		88,691
Business Combination, Consideration Transferred, Other		310
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 8,603	8,603
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	494	494
Other current assets (1)	787	787
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	73	73
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	142	142
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	(220)	(220)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(6,299)	(6,299)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue	(5,806)	(5,806)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities	(625)	(625)
Goodwill, Acquired During Period		70,792
Business Combination, Acquisition Related Costs		1,183
99designs acquisition [Member] \| Trade Names [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	1,550	$ 1,550
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		2 years
99designs acquisition [Member] \| Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	13,400	$ 13,400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		3 years
99designs acquisition [Member] \| Designer Relationships [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	5,800	$ 5,800
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		7 years
Other Acquisition-Q4 FY21 [Domain]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		$ 18,535
Goodwill, Acquired During Period		14,208
Cash and Cash Equivalents [Member] \| 99designs acquisition [Member]
Business Acquisition [Line Items]
Other Payments to Acquire Businesses	$ 45,000	45,000
Payments to Acquire Businesses, Gross		$ 90,000

Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Schedule of other current liabilities [Line Items]
Compensation costs	$ 73,861	$ 67,307
Income and indirect taxes	46,074	53,161
Accrued Advertising	35,093	14,746
Shipping costs	9,401	5,080
Interest Payable	2,399	8,359
Production costs	6,881	7,012
Sales returns	5,636	5,166
Purchases of property, plant and equipment	1,110	1,685
Professional costs	4,210	3,452
Other	62,848	44,796
Accrued Liabilities	$ 247,513	$ 210,764

Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Schedule of other current liabilities [Line Items]
Finance Lease, Liability, Current	$ 32,314
Other current liabilities	103,515	$ 13,268
Other Current Liabilities [Member]
Schedule of other current liabilities [Line Items]
Finance Lease, Liability, Current	32,314	8,055
Derivative Liability, Current	20,530	3,521
Other current liabilities	$ 50,671	$ 1,692

Other Balance Sheet Components Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Separate Account, Liability [Line Items]
Finance Lease, Liability, Noncurrent	$ 18,528	$ 18,617
Other liabilities	96,410	88,187
Other Noncurrent Liabilities [Member]
Separate Account, Liability [Line Items]
Finance Lease, Liability, Noncurrent	18,528	18,617
Derivative Liability, Noncurrent	41,074	51,800
Other liabilities	$ 36,808	$ 17,770

Debt (Details) $ / shares in Units, € in Thousands, $ in Thousands			12 Months Ended
	May 01, 2020 USD ($) shares	Feb. 13, 2020 USD ($)	Jun. 30, 2021 USD ($) $ / shares Rate shares	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2021 EUR (€) Rate shares	May 01, 2020 $ / shares	May 01, 2020	May 01, 2020 Rate
Line of Credit Facility [Line Items]
Warrants Not Settleable in Cash, Fair Value Disclosure			$ 22,432
Debt, Long-term and Short-term, Combined Amount			1,742,406	$ 1,433,590
Other Long-term Debt			12,835	11,694
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net			(22,450)	(48,587)
Write off of Deferred Debt Issuance Cost			17,072
Short-term debt			9,895	17,933
Long-term debt			$ 1,732,511	1,415,657
Class of Warrant or Right, Number of Securities Called by Warrants or Rights \| shares	1,055,377		1,055,377			1,055,377
Class of Warrant or Right, Percentage of Securities								3.875%	3.875%
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares			$ 60				$ 60
Description of variable rate basis			0
Proceeds from Notes Payable	$ 300,000
Document period end date			Jun. 30, 2021
Payments of debt			$ 1,242,606	1,337,334	$ 947,696
Debt Issuance Costs, Gross			12,200	23,208
Amortization of Debt Issuance Costs			5,757	3,240	2,367
Unamortized Debt Issuance Expense			(22,450)	(48,587)
Loss on early extinguishment of debt			48,343	0	0
Payments of early redemption fees for senior notes			309,000	0	$ 0
Early Redemption Fee
Line of Credit Facility [Line Items]
Payments of early redemption fees for senior notes			$ 9,000
Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on LIBOR			2.50%
Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on LIBOR			3.00%
Line of Credit [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Unamortized Discount			$ 3,435	10,362
Second Lien Notes due 2025 [Member]
Line of Credit Facility [Line Items]
Senior Notes			0	300,000
Loss on early extinguishment of debt			(39,400)
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt, Long-term and Short-term, Combined Amount				570,483
Term Loan [Domain]
Line of Credit Facility [Line Items]
Payments of debt			150
Line of Credit [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity			250,000
Debt Issuance Costs, Gross			$ 313
Line of Credit [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Commitment fee (percentage) \| Rate			0.35%
Line of Credit [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Commitment fee (percentage) \| Rate			0.45%
Revolving Loan, Maturity June 14, 2023 [Member]
Line of Credit Facility [Line Items]
Weighted average interest rate \| Rate			4.66%			4.66%
Senior Notes due 2022 [Member]
Line of Credit Facility [Line Items]
Senior Notes			$ 600,000	$ 600,000
Senior Notes due 2026 [Member]
Line of Credit Facility [Line Items]
Proceeds from Issuance of Private Placement		$ 600,000
Senior Notes
Line of Credit Facility [Line Items]
Debt, Long-term and Short-term, Combined Amount			1,152,021
Term Loan B, Euro Tranche
Line of Credit Facility [Line Items]
Debt, Long-term and Short-term, Combined Amount \| €						€ 300,000
Term Loan B, USD Tranche
Line of Credit Facility [Line Items]
Debt, Long-term and Short-term, Combined Amount			795,000
Term Loan B
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity			1,152,021
Debt Issuance Costs, Gross			$ 10,560

Employees' Savings Plan (Details) - USD ($) $ in Thousands	12 Months Ended
Employees' Savings Plan (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Company expensed for plan	$ 12,228	$ 10,710	$ 11,401
Defined Benefit Plan, Benefit Obligation	2,883	2,743
Assets for Plan Benefits, Defined Benefit Plan	4,128	3,403
Pension Cost (Reversal of Cost)	$ 667	$ 399	$ 424

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

Shareholders' Equity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2019 USD ($) $ / shares	Jun. 30, 2021 € / shares	Jun. 30, 2020 € / shares	May 01, 2020 shares	May 01, 2020 $ / shares	May 01, 2020	May 01, 2020 Rate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares, Outstanding	26,035,910	25,885,675
Share-based compensation expense \| $	$ 37,034	$ 34,874	$ 21,716
Issuance of ordinary shares due to share option exercises, Shares	(105,240)
Share-based Payment Arrangement, Amount Capitalized \| $	$ 1,338	$ 1,157	1,141
Common Stock, Capital Shares Reserved for Future Issuance	2,710,926
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	250.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	5,298	110,538
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price \| $ / shares	$ 54.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price \| $ / shares	80.01	$ 55.27
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price \| $ / shares	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	5,298
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price \| $ / shares	$ 80.01
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 9 months 18 days	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value \| $	$ 150
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value \| $	$ 5,460	$ 92,582	12,498
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value \| $ / shares		$ 133.89
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value \| $ / shares	$ 129.25
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number		1,034,197
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(103,613)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding \| $	$ 150
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(105,240)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price \| $ / shares	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares	0
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,055,377					1,055,377
Class of Warrant or Right, Percentage of Securities								3.875%	3.875%
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares	$ 60						$ 60
Warrants Not Settleable in Cash, Fair Value Disclosure \| $	$ 22,432
Common Stock, Value per Share \| € / shares				€ 0.01	€ 0.01
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount \| $	$ 61,127
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 6 months
Restricted share units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value \| $ / shares	$ 93.54	$ 47.06
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	453,916
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value \| $ / shares	$ 93.64	$ 46.94
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(180,494)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value \| $ / shares	$ 47.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(16,266)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding \| $	$ 17,231	$ 1,905	$ 6,749
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	434,389	177,233
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value \| $ / shares	$ 96.03
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested \| $	$ 47,092
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value \| $ / shares	$ 134.45
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	228,132
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value \| $ / shares	$ 129.25	$ 142.90	$ 176.16
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	1,158,716
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value \| $ / shares	$ 117.40
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding \| $	$ 125,616	$ 78,951	$ 74,688
November 25, 2019 Authorization [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	5,500,000
Maximum [Member] \| 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Authorized for Grants	3,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	250.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	2,896,790
Minimum [Member] \| 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	0.00%

Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Operating Loss Carryforwards [Line Items]
Current Federal Tax Expense (Benefit)	$ (93)	$ (16,269)	$ 84
Deferred Tax Assets, Operating Loss Carryforwards	73,534	62,374
Deferred Tax Assets, Capital leases	31,363	33,078
Deferred tax assets, Depreciation and Amortization	9,136	4,308
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities	9,538	6,253
Income tax expense (benefit)	18,903	(80,992)	$ 33,432
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost	11,192	9,482
Deferred Tax Assets, Tax Credit Carryforwards, Other	39,109	29,216
Deferred Tax Assets, Derivative Instruments	8,226	6,739
Deferred Tax Assets, Other	5,774	7,551
Deferred Tax Assets, Gross	312,244	286,966
Deferred Tax Assets, Net of Valuation Allowance	198,327	195,391
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	113,917	91,575
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	(17,214)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account	(5,128)
Deferred Tax Liabilities Deferred Expense Depreciation And Amortization	28,187	41,017
Deferred Tax Liabilities, Capital leases	24,920	30,433
Deferred tax liabilities, investment in flow through entity	5,003	3,550
Deferred Tax Liabilities, Undistributed Foreign Earnings	$ (6,877)	$ (6,203)
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	(21.80%)	(408.40%)	(7.20%)
Deferred Tax Liabilities, Other	$ (6,627)	$ (4,502)
Deferred tax assets, net of deferred tax liabilities	122,185	109,686
Undistributed Earnings of Foreign Subsidiaries	43,401
Current State and Local Tax Expense (Benefit)	546	213	$ 1,130
Current Foreign Tax Expense (Benefit)	28,205	22,361	26,862
Current Income Tax Expense (Benefit)	28,658	6,305	28,076
Deferred Federal Income Tax Expense (Benefit)	(1,573)	12,980	(1,347)
Deferred State and Local Income Tax Expense (Benefit)	(31)	3,213	(183)
Deferred Foreign Income Tax Expense (Benefit)	(8,151)	(103,490)	6,886
Deferred Income Tax Expense (Benefit)	(9,755)	(87,297)	5,356
Income Tax Holiday, Aggregate Dollar Amount	181
Unrecognized Tax Benefits	14,379	$ 5,847	$ 4,721	$ 4,705
Interest Rate Swaption [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Valuation Allowance	8,226
Research Tax Credit Carryforward [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Valuation Allowance	25,389
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	3,209
Capital Loss Carryforward [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Valuation Allowance	3,805
IRELAND
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Other	$ 8,030
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	0.00%	0.00%	20.50%
UNITED STATES
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	$ 12,124
Income tax expense (benefit)	41,900
Deferred Tax Assets, Tax Credit Carryforwards, Other	30,693
Deferred Tax Assets, Other	18,118
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	422,072
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	25,179
Deferred Tax Assets, Other	$ 7,934
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	10.00%
Potential tax withholding, Repatriated Earnings	$ 10
Unrecognized Tax Benefits	$ 300
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	30.00%
Potential tax withholding, Repatriated Earnings	$ 11
Unrecognized Tax Benefits	310
Federal Act on Tax Reform and AHV Financing (TRAF) [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)		$ 113,482
Deferred Tax Assets, Other	$ 124,372	$ 127,965
Various Countries' Legislation for COVID-19 Relief [Member] \| Minimum [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	15.00%
Various Countries' Legislation for COVID-19 Relief [Member] \| Maximum [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	30.00%

Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
Income Tax (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Operating Loss Carryforwards [Line Items]
Income Tax Holiday, Aggregate Dollar Amount	$ 181
U.S.	2,546	$ (58,765)	$ (10,879)
Non-U.S. Income (Loss)	(58,582)	61,768	137,791
(Loss) income before income taxes	(56,036)	3,003	126,912
Current Federal Tax Expense (Benefit)	(93)	(16,269)	84
Current State and Local Tax Expense (Benefit)	546	213	1,130
Current Foreign Tax Expense (Benefit)	28,205	22,361	26,862
Current Income Tax Expense (Benefit)	28,658	6,305	28,076
Deferred Federal Income Tax Expense (Benefit)	(1,573)	12,980	(1,347)
Deferred State and Local Income Tax Expense (Benefit)	(31)	3,213	(183)
Deferred Foreign Income Tax Expense (Benefit)	(8,151)	(103,490)	6,886
Deferred Income Tax Expense (Benefit)	(9,755)	(87,297)	5,356
Income tax expense (benefit)	18,903	$ (80,992)	$ 33,432
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 6,700
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	3.60%	(130.10%)	(1.00%)
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	(21.80%)	(408.40%)	(7.20%)
Effective Income Tax Rate Reconciliation,Other Reconciling Items, Percent	1.80%	0.00%	4.50%
Effective Income Tax Rate Reconciliation, Deduction, Other, Percent	(0.20%)	(420.70%)	(0.70%)
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	0.00%	(372.60%)	3.70%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Percent	0.00%	759.10%	2.00%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	(30.80%)	1277.50%	(1.70%)
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Percent	(10.00%)	(262.30%)	(19.10%)
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent	(4.40%)	154.10%	8.00%
Effective Income Tax Rate Reconciliation, Disposition of Business, Percent	0.00%	(189.20%)	0.00%
Effective Income Tax Rate Reconciliation, Deduction, Percent	(1.60%)	(47.90%)	(0.80%)
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent	(4.00%)	(88.30%)	(3.60%)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent	0.60%	47.50%	1.50%
Effective Income Tax Rate Reconciliation, Tax Settlement, Percent	(1.00%)	31.40%	8.00%
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent	1.00%	(86.10%)	(6.40%)
Effective Income Tax Rate Reconciliation, Percent	(33.70%)	(2697.00%)	26.30%
Unrecognized Tax Benefits	$ 14,379	$ 5,847	$ 4,721	$ 4,705
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	1,428	586	702
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	7,448	769	201
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(51)	(102)	(117)
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	(83)	(52)
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	(229)	(71)	(763)
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	1,307
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	1,014	384	$ 515
Deferred Tax Assets, Net of Valuation Allowance	$ 198,327	$ 195,391
IRELAND
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	0.00%	0.00%	20.50%
UNITED STATES
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 41,900
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	10.00%
Unrecognized Tax Benefits	$ 300
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	30.00%
Unrecognized Tax Benefits	$ 310
Accounting Standards Update 2019-12 [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	2,771
Share Based Compensation Expense [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 2,143	$ 15,705
Interest Expense [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent	(19.40%)	157.40%	1.30%
Federal Act on Tax Reform and AHV Financing (TRAF) [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)		$ 113,482
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent	0.00%	3779.00%	0.00%

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 18,903	$ (80,992)	$ 33,432
Unrecognized Tax Benefits	14,379	5,847	4,721	$ 4,705
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	1,428	586	702
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	7,448	769	201
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(51)	(102)	(117)
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	(83)	(52)
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	(229)	(71)	(763)
Unrecognized Tax Benefits, Decrease Resulting from Foreign Currency Translation	(19)	(4)	(7)
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	1,307
U.S.	2,546	(58,765)	(10,879)
Non-U.S. Income (Loss)	(58,582)	61,768	137,791
(Loss) income before income taxes	(56,036)	3,003	126,912
Current Federal Tax Expense (Benefit)	(93)	(16,269)	84
Current State and Local Tax Expense (Benefit)	546	213	1,130
Current Foreign Tax Expense (Benefit)	28,205	22,361	26,862
Current Income Tax Expense (Benefit)	28,658	6,305	28,076
Deferred Federal Income Tax Expense (Benefit)	(1,573)	12,980	(1,347)
Deferred State and Local Income Tax Expense (Benefit)	(31)	3,213	(183)
Deferred Foreign Income Tax Expense (Benefit)	(8,151)	(103,490)	6,886
Deferred Income Tax Expense (Benefit)	$ (9,755)	$ (87,297)	$ 5,356
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	3.60%	(130.10%)	(1.00%)
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	(21.80%)	(408.40%)	(7.20%)
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent	(4.00%)	(88.30%)	(3.60%)
Effective Income Tax Rate Reconciliation, Deduction, Other, Percent	(0.20%)	(420.70%)	(0.70%)
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	0.00%	(372.60%)	3.70%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Percent	0.00%	759.10%	2.00%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	(30.80%)	1277.50%	(1.70%)
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Percent	(10.00%)	(262.30%)	(19.10%)
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent	(4.40%)	154.10%	8.00%
Effective Income Tax Rate Reconciliation, Disposition of Business, Percent	0.00%	(189.20%)	0.00%
Effective Income Tax Rate Reconciliation, Deduction, Percent	(1.60%)	(47.90%)	(0.80%)
Effective Income Tax Rate Reconciliation, Italy Patent Box, Percent	0.00%	(24.20%)	(3.40%)
Effective Income Tax Rate Reconciliation, Change in VIE, Percent	0.00%	0.00%	(2.50%)
Effective Income Tax Rate Reconciliation,Other Reconciling Items, Percent	1.80%	0.00%	4.50%
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent	1.00%	(86.10%)	(6.40%)
Effective Income Tax Rate Reconciliation, Percent	(33.70%)	(2697.00%)	26.30%
Effective Income Tax Rate Reconciliation, Tax Contingency, Foreign, Percent	1.40%	81.70%	0.10%
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent	(0.40%)	(28.70%)	(0.80%)
Effective Income Tax Rate Reconciliation, Uncertain Tax Positions, Percent	(1.10%)	28.80%	(0.10%)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent	0.60%	47.50%	1.50%
Effective Income Tax Rate Reconciliation, Tax Settlement, Percent	(1.00%)	31.40%	8.00%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 6,700
Deferred Tax Assets, Operating Loss Carryforwards	73,534	$ 62,374
Deferred Tax Assets, Capital leases	31,363	33,078
Deferred tax assets, Depreciation and Amortization	9,136	4,308
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities	9,538	6,253
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost	11,192	9,482
Deferred Tax Assets, Tax Credit Carryforwards, Other	39,109	29,216
Deferred Tax Assets, Derivative Instruments	8,226	6,739
Deferred Tax Assets, Other	5,774	7,551
Deferred Tax Assets, Gross	312,244	286,966
Operating Loss Carryforwards, Valuation Allowance	(113,917)	(91,575)
Deferred Tax Assets, Net of Valuation Allowance	198,327	195,391
Deferred Tax Liabilities Deferred Expense Depreciation And Amortization	(28,187)	(41,017)
Deferred Tax Liabilities, Capital leases	(24,920)	(30,433)
Deferred tax liabilities, investment in flow through entity	(5,003)	(3,550)
Deferred Tax Liabilities, Undistributed Foreign Earnings	(6,877)	(6,203)
Deferred Tax Liabilities, Other	(6,627)	(4,502)
Deferred Tax Liabilities, Gross	76,142	85,705
Deferred tax assets, net of deferred tax liabilities	122,185	109,686
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	113,917	91,575
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	17,214
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account	5,128
Acquired net operating losses	5,424
Valuation Allowance [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	73,534	62,374
Valuation Allowance [Table]
Undistributed Earnings of Foreign Subsidiaries	43,401
Income Tax Holiday, Aggregate Dollar Amount	181
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	1,014	$ 384	$ 515
US Cares Act
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	11,188
Research Tax Credit Carryforward [Member]
Operating Loss Carryforwards [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	3,209
Valuation Allowance [Table]
Deferred Tax Assets, Valuation Allowance	25,389
UNITED STATES
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	41,900
Deferred Tax Assets, Operating Loss Carryforwards	12,124
Deferred Tax Assets, Tax Credit Carryforwards, Other	30,693
Deferred Tax Assets, Other	18,118
Valuation Allowance [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	$ 12,124
IRELAND
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	0.00%	0.00%	20.50%
Deferred Tax Assets, Other	$ 8,030
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	5,587
SWITZERLAND
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Tax Deferred Expense, Other	14,235
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	25,179
Deferred Tax Assets, Other	7,934
Valuation Allowance [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	25,179
Non-US [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Other	3,291
Share Based Compensation Expense [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 2,143	$ 15,705
Interest Expense [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent	(19.40%)	157.40%	1.30%
Italy tax suspension reserve
Operating Loss Carryforwards [Line Items]
Deferred Tax Liabilities, Other	$ (4,528)	$ 0
Federal Act on Tax Reform and AHV Financing (TRAF) [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)		$ 113,482
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent	0.00%	3779.00%	0.00%
Deferred Tax Assets, Other	$ 124,372	$ 127,965
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits	$ 300
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	10.00%
Valuation Allowance [Table]
Potential tax withholding, Repatriated Earnings	$ 10
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits	$ 310
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	30.00%
Valuation Allowance [Table]
Potential tax withholding, Repatriated Earnings	$ 11

Noncontrolling interests (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Noncontrolling interests (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Apr. 23, 2021	Nov. 25, 2020	Jun. 06, 2019	Oct. 01, 2018
Noncontrolling Interest [Line Items]
Purchase of noncontrolling interests		$ (5,063)	$ 0	$ (85,520)
Net Income (Loss) Attributable to Noncontrolling Interest		2,772	630	$ (1,572)
Redeemable noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Purchase of noncontrolling interests		(5,063)
Temporary Equity, Accretion to Redemption Value		3,049	5,493
Net Income (Loss) Attributable to Noncontrolling Interest		2,772	630
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders		(4,746)	(3,955)
Redeemable noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Proceeds from Contributions from Affiliates		4,370	3,995
Redeemable noncontrolling interest [Member] \| Redeemable noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Stockholders' Equity Attributable to Noncontrolling Interest	$ 71,120	71,120	69,106
Other Comprehensive (Income) Loss, Foreign Currency Translation Adjustment, Tax, Portion Attributable to Noncontrolling Interest		1,632	$ (239)
BuildASign LLC [Domain] \| Redeemable noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners								1.00%
Temporary Equity, Accretion to Redemption Value	$ 1,072
Other Acquisition-Q4 FY21 [Domain] \| Redeemable noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners					19.00%
Temporary Equity, Accretion to Redemption Value		4,370
Other Acquisition-Q4 FY21 [Domain] \| Cimpress plc [Member]
Noncontrolling Interest [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired					81.00%			99.00%
Minimum [Member] \| Repurchased noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						0.56%
Purchase of noncontrolling interests		$ (5,063)
Minimum [Member] \| PrintBrothers [Member] \| Redeemable noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners							11.00%
Maximum [Member] \| Repurchased noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						1.15%
Maximum [Member] \| PrintBrothers [Member] \| Redeemable noncontrolling interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners							12.00%

Segment Information (Details)
$ in Thousands

12 Months Ended

Jun. 30, 2021

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2019

USD ($)

Number of Reportable Segments

$ 0

$ 100,842

$ 7,503

$ 2,592,513

2,481,358

2,751,076

Depreciation, Depletion and Amortization

454,336

482,392

468,150

173,212

167,943

172,957

Capitalization of software and website development costs

60,937

43,992

48,652

173,212

167,943

173,771

Other (expense) income, net

(1,641)

(13,543)

(12,054)

^[1]

Operating Income (Loss)

123,510

55,969

163,607

(11,835)

22,874

26,476

Loss on early extinguishment of debt

(48,343)

(Loss) income before income taxes

(56,036)

3,003

126,912

38,524

50,467

70,563

539,518

591,974

Marketing and selling expense

726,979

621,904

718,880

Intangible assets, net

186,744

209,228

Deferred tax assets

149,618

143,496

(648,391)

(574,041)

(713,863)

^[1]

Property, plant and equipment, net

37,034

34,874

21,716

Interest expense, net

(119,368)

(75,840)

(63,171)

328,679

338,659

Insurance Recoveries

(122)

Operating Lease, Impairment Loss

1,641

13,543

12,054

^[1]

Depreciation

71,057

74,665

84,558

19,882

Physical printed products and other [Member]

Digital products and services [Member]

2,477,158

2,431,367

2,700,167

115,355

49,991

50,909

Waltham Lease [Member]

Interest Expense

7,236

Depreciation

4,120

North America [Member]

1,281,535

1,237,095

1,332,569

Canada [Member]

60,779

67,367

Netherlands [Member]

75,996

82,897

Switzerland

68,880

58,013

Australia [Member]

21,298

19,695

Jamaica [Member]

20,550

21,563

FRANCE

25,417

23,917

ITALY

47,776

46,317

JAPAN

14,891

15,430

UNITED STATES

1,199,436

1,251,531

1,361,438

107,868

161,853

GERMANY

350,281

351,348

367,375

Europe [Member]

Other Continents [Member]

1,135,450

1,123,492

1,275,985

175,528

120,771

142,522

Other Countries [Member]

1,042,796

878,479

1,022,263

Vistaprint Business [Member]

96,063

94,922

1,442,469

1,331,111

1,502,471

Capitalization of software and website development costs

324,715

366,334

349,697

28,297

18,381

23,369

58,513

59,029

(67,317)

(325)

(5,734)

(8,467)

12,332

15,986

32,820

225,147

150,846

145,961

Vistaprint Business [Member] | North America [Member]

325

5,734

8,467

Vistaprint Business [Member] | Europe [Member]

955,280

928,668

1,040,928

Vistaprint Business [Member] | Other Continents [Member]

350,270

325,239

373,768

136,919

77,204

87,775

PrintBrothers [Member]

420,946

416,987

442,760

Capitalization of software and website development costs

43,144

39,373

43,474

1,465

990

1,787

22,089

21,010

(22,108)

3,609

4,315

(3,521)

PrintBrothers [Member] | North America [Member]

137,307

129,764

124,089

PrintBrothers [Member] | Europe [Member]

420,946

416,987

442,760

The Print Group [Member]

40,391

258,230

269,220

325,076

Capitalization of software and website development costs

43,126

51,606

63,997

1,603

1,484

2,327

27,066

24,769

(29,437)

(1,966)

(475)

(2,223)

11,847

17,136

7,908

164,220

155,197

198,363

The Print Group [Member] | North America [Member]

1,966

475

2,223

The Print Group [Member] | Europe [Member]

258,230

269,220

325,076

National Pen [Member]

34,434

281,623

291,668

344,680

Capitalization of software and website development costs

11,644

7,605

17,299

3,115

3,290

3,624

25,123

23,654

(21,642)

(3,211)

3,603

5,016

8,346

National Pen [Member] | North America [Member]

3,211

National Pen [Member] | Europe [Member]

154,857

154,632

179,425

National Pen [Member] | Other Continents [Member]

106,004

112,046

134,381

All Other Businesses [Member]

20,762

24,990

30,874

26,017

189,245

172,372

136,089

Capitalization of software and website development costs

31,707

17,474

(6,317)

3,746

3,684

2,948

19,811

23,755

(17,068)

(535)

(1,197)

5,466

4,242

16,996

200,305

186,097

216,033

All Other Businesses [Member] | North America [Member]

535

1,197

All Other Businesses [Member] | Europe [Member]

171,398

153,795

112,216

All Other Businesses [Member] | Other Continents [Member]

Central and Corporate Costs [Member]

17,847

18,577

23,873

(117,295)

(16,199)

(3,532)

(167)

3,532

167

Corporate and Other

Capitalization of software and website development costs

(135,398)

(140,398)

22,711

16,163

14,597

20,610

15,726

Certain impairments [Member]

1,667

3,772

972

Earn-out related charges [Member]

Asset Impairment Charges

(20,453)

(104,593)

(10,700)

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

Share-based compensation related to investment consideration [Member]

Operating Segments [Member]

2,893

Operating Segments [Member] | Vistaprint Business [Member]

2,647,673

2,503,689

2,762,792

Operating Segments [Member] | PrintBrothers [Member]

1,444,807

1,337,291

1,508,322

Operating Segments [Member] | The Print Group [Member]

421,766

417,921

443,987

Operating Segments [Member] | National Pen [Member]

275,534

275,214

325,872

Operating Segments [Member] | All Other Businesses [Member]

313,528

299,474

348,409

Intersegment Eliminations [Member]

192,038

173,789

136,202

Intersegment Eliminations [Member] | Vistaprint Business [Member]

55,160

22,331

11,716

Intersegment Eliminations [Member] | PrintBrothers [Member]

2,338

6,180

5,851

Intersegment Eliminations [Member] | The Print Group [Member]

820

934

1,227

Intersegment Eliminations [Member] | National Pen [Member]

17,304

5,994

796

Intersegment Eliminations [Member] | All Other Businesses [Member]

31,905

7,806

3,729

Unrecorded Unconditional Purchase Obligation [Line Items]

$ 2,793

$ 1,417

$ 113

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

Leases (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	4 years 3 months 10 days	4 years 3 months 10 days	6 years 2 months 4 days
Finance Lease, Weighted Average Remaining Lease Term	10 years 8 months 15 days	10 years 8 months 15 days	4 years 7 months 9 days
Operating Lease, Weighted Average Discount Rate, Percent	3.17%	3.17%	2.83%
Finance Lease, Weighted Average Discount Rate, Percent	3.93%	3.93%	2.62%
Operating Lease, Expense		$ 36,803	$ 43,058
Operating lease assets, net	$ 87,626	87,626	156,258
Finance Lease, Right-of-Use Asset	35,384	35,384	20,842
Total Lease Assets	123,010	123,010	177,100
Operating lease liabilities, current	26,551	26,551	41,772
Finance Lease, Liability, Current	32,314	32,314
Operating lease liabilities, non-current	66,222	66,222	128,963
Finance Lease, Liability, Noncurrent	18,528	18,528	18,617
Finance Lease, Right-of-Use Asset, Amortization		5,557	5,766
Finance Lease, Interest Expense		211	698
Variable Lease, Cost		7,846	10,775
Sublease Income		(2,309)	(3,545)
Lease, Cost		48,108	56,752
Total Lease Obligation, Future Minimum payments due, Next twelve months	62,400	62,400
Lessee, Operating Lease, Liability, Payments, Due Year Two	25,125	25,125
Total Lease Obligation, Future Minimum payments due, in two years	31,863	31,863
Lessee, Operating Lease, Liability, Payments, Due Year Three	20,377	20,377
Total Lease Obligation, Future Minimum payments due, in three years	25,888	25,888
Lessee, Operating Lease, Liability, Payments, Due Year Four	12,397	12,397
Total Lease Obligation, Future Minimum payments due, in four years	16,723	16,723
Lessee, Operating Lease, Liability, Payments, Due Year Five	7,270	7,270
Lessee, Operating Lease, Liability, Payments, Due after Year Five	6,899	6,899
Total Lease Obligation, Future Minimum payments due, in five years	9,451	9,451
Amounts due for acquisition of businesses	8,192	8,192
Lessee, Operating Lease, Liability, Payments, Due	101,595	101,595
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(8,822)	(8,822)
Operating Lease, Liability	92,773	92,773
Finance Lease, Liability, Payment, Due	52,922	52,922
Finance Lease, Liability, Undiscounted Excess Amount	(2,080)	(2,080)
Finance Lease, Liability	50,842	50,842	8,055
Total Lease Obligation, Future Minimum payments due	154,517	154,517
Total Lease Liability, Undiscounted Excess Amount	10,902	10,902
Total Lease Obligation, Future Minimum payments due, discounted	143,615	143,615
Total lease obligation	143,615	143,615	197,407
Operating Leases, Future Minimum Payments Due, Next Twelve Months	29,527	29,527
Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months	32,873	32,873
Finance Lease, Liability, Payments, Due in Rolling Year Two	6,738	6,738
Finance Lease, Liability, Payments, Due in Rolling Year Three	5,511	5,511
Finance Lease, Liability, Payments, Due in Rolling Year Four	4,326	4,326
Finance Lease, Liability, Payments, Due in Rolling Year Five	2,181	2,181
Finance Lease, Liability, Payments, Due in Rolling after Year Five	1,293	1,293
Operating cash flows from operating leases		47,327	40,777
Operating cash flows from finance leases		211	698
Financing cash flows from finance leases		8,001	9,511
Lease termination penalty [Line Items]		8,761
Impairment of long-lived assets		19,882
Operating Lease, Impairment Loss		19,882
Waltham Lease [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Liability, Payments, Due	64,811	64,811
Impairment of long-lived assets		4,483
Operating Lease, Impairment Loss		7,489
Waltham Lease [Member] \| General and administrative expense
Lessee, Lease, Description [Line Items]
Effect of Lease Modification [Line Items]		1,156
Other Lease [Member]
Lessee, Lease, Description [Line Items]
Effect of Lease Modification [Line Items]		$ 8,201
Impairment of long-lived assets	5,280
Operating Lease, Impairment Loss	7,420
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Lease Term		1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Lease Term		14 years
Other Current Liabilities [Member]
Lessee, Lease, Description [Line Items]
Finance Lease, Liability, Current	32,314	$ 32,314	$ 8,055
Property, Plant and Equipment [Member] \| Other Lease [Member]
Lessee, Lease, Description [Line Items]
Effect of Lease Modification [Line Items]		15,860
Other Liabilities [Member] \| Other Lease [Member]
Lessee, Lease, Description [Line Items]
Effect of Lease Modification [Line Items]		23,959
Operating Lease, Liability \| Waltham Lease [Member]
Lessee, Lease, Description [Line Items]
Effect of Lease Modification [Line Items]		47,801
Operating Lease, Right-of-Use Asset \| Waltham Lease [Member]
Lessee, Lease, Description [Line Items]
Effect of Lease Modification [Line Items]		46,645
Other Assets [Member] \| Waltham Lease [Member]
Lessee, Lease, Description [Line Items]
Impairment of long-lived assets		2,787
Leaseholds and Leasehold Improvements [Member] \| Waltham Lease [Member]
Lessee, Lease, Description [Line Items]
Impairment of long-lived assets		1,312
Leaseholds and Leasehold Improvements [Member] \| Other Lease [Member]
Lessee, Lease, Description [Line Items]
Impairment of long-lived assets	2,140
Furniture and Fixtures [Member] \| Waltham Lease [Member]
Lessee, Lease, Description [Line Items]
Impairment of long-lived assets		$ 384
Equipment [Member] \| Other Lease [Member]
Lessee, Lease, Description [Line Items]
Impairment of long-lived assets	$ 1,680

Commitments and Contingencies (Details) - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2019

Jul. 01, 2021

Amounts accrued related to business acquisitions

$ 245,149

45,025

$ 2,289

$ 5,564

Lessee, Operating Lease, Liability, Payments, Due

101,595

Subsequent Event [Member]

Unrecorded Unconditional Purchase Obligation [Line Items]

Lessee, Operating Lease, Liability, Payments, Due

$ 20,183

99designs acquisition [Member]

Unrecorded Unconditional Purchase Obligation [Line Items]

Amounts accrued related to business acquisitions

^[1]

44,423

Third-party web services [Domain]

Unrecorded Unconditional Purchase Obligation [Line Items]

Professional Fees [Domain]

95,497

Unrecorded Unconditional Purchase Obligation [Line Items]

Production and Computer Equipment [Domain]

7,438

Unrecorded Unconditional Purchase Obligation [Line Items]

Unrecorded Unconditional Purchase Obligation [Line Items]

14,722

Inventories [Member]

Advertising Purchase Commitment [Member]

55,530

Unrecorded Unconditional Purchase Obligation [Line Items]

Other purchase commitments [Member]

13,047

Unrecorded Unconditional Purchase Obligation [Line Items]

Software and Software Development Costs

11,221

Unrecorded Unconditional Purchase Obligation [Line Items]