Vistaprint 2012 Annual Report Download - page 74

Download and view the complete annual report

Please find page 74 of the 2012 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 148

  • 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

70
6. Goodwill and Acquired Intangible Assets
Goodwill
The changes in the carrying amount of goodwill by segment for the years ended June 30, 2012 and 2011 are
as follows:
North
America Europe Asia Pacific Total
Balance as of June 30, 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,292 $ 1,668 $ 208 $ 4,168
Acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ————
Balance as of June 30, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,292 1,668 208 4,168
Acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94,177 47,391 — 141,568
Effect of currency translation adjustments (1) . . . . . . . . . . . . . . . — (5,307) — (5,307)
Balance as of June 30, 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 96,469 $ 43,752 $ 208 $ 140,429
_________________
(1) Relates to goodwill attributable to the Albumprinter acquisition as amounts are denominated in Euro.
Intangible Assets
June 30, 2012 June 30, 2011
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Trade Name . . . . . . . . . . . . . . . . . . . . . $9,166 $(921) $ 8,245 $ — $ — $ —
Developed Technology . . . . . . . . . . . . 13,880 (4,232) 9,648 2,647 (1,605) 1,042
Customer Relationships. . . . . . . . . . . . 20,265 (2,153) 18,112 — — —
Customer Network . . . . . . . . . . . . . . . . 4,600 (334) 4,266 — — —
Total Intangible Assets. . . . . . . . . . . . . $ 47,911 $ (7,640) $ 40,271 $ 2,647 $ (1,605) $ 1,042
Aggregate intangible assets amortization expense for the years ended June 30, 2012, 2011 and 2010 was $6,172,
$446, and $1,159, respectively. Estimated intangible assets amortization expense for each of the five succeeding
fiscal years is as follows:
2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,215
2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,930
2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,818
2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,699
2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,918
$ 33,580