Vistaprint 2014 Annual Report Download - page 70

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66
The following table presents the effect of our derivative financial instruments designated as hedging
instruments and their classification within comprehensive income for the fiscal years ended June 30, 2014 and
2013:
Derivatives in Hedging Relationships
Amount of Gain (Loss) Recognized in Comprehensive
Income on Derivatives (Effective Portion)
Year Ended June 30,
In thousands 2014 2013
Currency contracts that hedge revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (107) 280
Currency contracts that hedge cost of revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 (263)
Currency contracts that hedge technology and development expense . . . . . . . . . . . . . 70 80
Currency contracts that hedge general and administrative expense . . . . . . . . . . . . . . . 12 (1)
Interest rate swaps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,319) 387
$ (1,285) $ 483
The following table presents reclassifications out of accumulated other comprehensive income (loss) for the
fiscal years ended June 30, 2014 and 2013:
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 2014 2013
Currency contracts that hedge revenue . . . . . . . . $(120) $ 293 Revenue
Currency contracts that hedge cost of revenue . . (112)(92)
Cost of revenue
Currency contracts that hedge technology and
development expense . . . . . . . . . . . . . . . . . . . . . 122 27 Technology and development
expense
Currency contracts that hedge general and
administrative expense . . . . . . . . . . . . . . . . . . . . . 11 1 General and administrative
expense
Interest rate swaps . . . . . . . . . . . . . . . . . . . . . . . . (372) 189 Interest income (expense), net
Total before income tax (471) 418 Income (loss) before income taxes
and loss in equity interests
Income tax 75 (21) Income tax provision (benefit)
Total $(396) $ 397
The following table presents the adjustment to fair value recorded within the statement of operations for
derivative instruments for which we did not elect hedge accounting, as well as the effect of our de-designated
derivative financial instruments that no longer qualify as hedging instruments in the period:
Derivatives not classified as hedging instruments Amount of Gain (Loss) Recognized in Income
Location of Gain (Loss) Recognized in
Income (Ineffective Portion)
Year Ended June 30,
In thousands 2014 2013
Currency contracts . . . . . . . . . . . . . . . . . . . . . . . $ (7,473) $ 29 Other income (expense), net