Vistaprint 2013 Annual Report Download - page 69

Download and view the complete annual report

Please find page 69 of the 2013 Vistaprint annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 149

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149

66
The following table presents reclassifications out of accumulated other comprehensive loss for the fiscal
years ended June 30, 2013 and 2012:
Details about Accumulated Other
Comprehensive Loss Components
Amount Reclassified from Accumulated Other
Comprehensive Loss to Net Income
Gain/(Loss) Affected line item in the
Statement of Operations
Year Ended June 30,
In thousands 2013 2012
Currency contracts that hedge revenue . . . . . . . . $ 293 $ — Revenue
Currency contracts that hedge cost of revenue . . (92) — Cost of revenue
Currency contracts that hedge technology and
development expense . . . . . . . . . . . . . . . . . . . . . 27 — Technology and development
expense
Currency contracts that hedge general and
administrative expense. . . . . . . . . . . . . . . . . . . . . 1—General and administrative
expense
Interest Rate Swaps . . . . . . . . . . . . . . . . . . . . . . . 189 — Interest expense
Total before income tax 418 — Total before Income Tax
Income tax expense (21) — Income tax provision
Total $ 397 $ —
The following table presents the effect of our de-designated derivative financial instruments that no longer
qualify as hedging instruments and the mark to market impact recorded within the statement of operations:
Derivatives not classified as hedging instruments
under ASC 815 Amount of Gain (Loss) Recognized in Income Location of Gain (Loss) Recognized in
Income (Ineffective Portion)
Year Ended June 30,
In thousands 2013 2012
Currency contracts . . . . . . . . . . . . . . . . . . . . . . . $ 29 $ — Other income (expense)
5. Accumulated Other Comprehensive Loss
The following table presents a roll forward of amounts recognized in accumulated other comprehensive loss
by component, net of tax of $55, for the twelve months ended June 30, 2013:
In thousands Gains and Losses on
Cash Flow Hedges Currency translation
adjustments Total
Balance at June 30, 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ (10,732) $ (10,732)
Other comprehensive income before reclassifications . . . . . . . . . 483 (910) (427)
Amounts reclassified from accumulated other comprehensive
income to net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (397) — (397)
Net current period other comprehensive income (loss) . . . . . . . . . . 86 (910) (824)
Balance as of June 30, 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 86 $ (11,642) $ (11,556)