Vistaprint 2011 Annual Report Download - page 80
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Form 10-K
The following tables set forth revenues and long-lived assets by geographic area:
2011 2010 2009
Year Ended June 30,
Revenue:
United States . . . . . . . . . . . . . . . . . . . . . . . $ 430,354 $ 370,137 $ 313,621
Non-United States (1) . . . . . . . . . . . . . . . . . 386,655 299,898 202,205
Total revenue . . . . . . . . . . . . . . . . . . . . $ 817,009 $ 670,035 $ 515,826
2011 2010
June 30,
Long-lived assets (2):
Canada . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 103,005 $ 110,780
Netherlands . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82,594 73,992
Australia. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43,971 36,485
Bermuda . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,022 17,152
United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,167 12,879
Jamaica . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,858 6,191
Switzerland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,288 1,771
Spain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,317 2,180
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,697 2,012
$ 272,919 $ 263,442
(1) Our non-United States revenue includes the Netherlands, the country of domicile. Revenue earned in any individual
country was not greater than 10% of consolidated revenue for the years presented.
(2) Excludes goodwill of $4,168 for both periods presented and deferred tax assets of $6,522 and $7,277 as of June 30, 2011
and 2010, respectively.
12. Commitments and Contingencies
Operating Lease Commitments
We are committed under operating leases for facilities expiring on various dates through 2018.
Total lease expense for the years ended June 30, 2011, 2010 and 2009 was $8,221, $7,395 and
$6,331, respectively.
Future minimum payments required under operating leases for the next five fiscal years and
thereafter are as follows at June 30, 2011:
2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,043
2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,298
2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,551
2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,415
2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,359
Thereafter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,683
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 46,349
Vistaprint USA, Incorporated’s office space lease requires a security deposit in the form of a
letter of credit in the amount of $364, which is classified as restricted cash and is included in other
assets in the consolidated balance sheet. In addition, we provided a customary indemnification to the
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