Vistaprint 2010 Annual Report Download - page 61

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Form 10-K
would have had on our income before taxes in the near term. A hypothetical decrease in
exchange rates of 10% against the functional currency of our subsidiaries would have
resulted in a decrease of $0.7 million and $1.6 million on our income before income taxes
for the fiscal years 2010 and 2009, respectively.
•Translation of our non-U.S. dollar assets and liabilities: Each of our subsidiaries translates
their assets and liabilities to U.S. dollars at current rates of exchange in effect at the
balance sheet date. The resulting gains and losses from translation are included as a
component of accumulated other comprehensive (loss) income on the balance sheet.
Fluctuations in exchange rates can materially impact the carrying value of our assets and
liabilities.
Foreign currency transaction (losses) gains included in other (expense) income, net for the
years ended June 30, 2010, 2009 and 2008 were $(1,491), $(803) and $427, respectively.
57