Vistaprint 2014 Annual Report Download - page 89

85
Purchase Obligations
At June 30, 2014, we had unrecorded commitments under contract of $30,860, which were principally
composed of inventory purchase commitments of approximately $11,956, production and computer equipment
purchases of approximately $9,567, and other unrecorded purchase commitments of $9,337.
Debt
The required principal payments due during the next five years and thereafter under our outstanding long-
term debt obligations (excluding our short-term uncommitted credit facility) at June 30, 2014 are as follows:
2015 $ 16,375
2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,422
2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42,984
2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 349,078
2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —
Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 426,859
Other Obligations
We have an outstanding installment obligation of $16,556 related to the fiscal 2012 intra-entity transfer of
Webs' Intellectual Property, which results in tax being paid over a 7.5 year term and has been classified as a
deferred tax liability in our consolidated balance sheet as of June 30, 2014.
Legal Proceedings
We are not currently party to any material legal proceedings. Although we cannot predict with certainty the
results of litigation and claims to which we may be subject from time to time, we do not expect the resolution of any
of our current matters to have a material adverse impact on our consolidated results of operations, cash flows or
financial position. In all cases, at each reporting period, we evaluate whether or not a potential loss amount or a
potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that
addresses accounting for contingencies. We expense the costs relating to our legal proceedings as those costs are
incurred.
19. Restructuring
During the second quarter of fiscal 2014 we closed our Singapore location, which provided strategic and
administrative support services as part of our Most of World Segment and recognized expense associated with
employee and facility termination costs. In the fourth quarter we executed a focused workforce reduction that
impacted our North America, Europe and Corporate and global function segments. The following table summarizes
the total restructuring costs incurred during the year ended June 30, 2014. There were no such charges during the
year ended June 30, 2013.
Year ended
June 30, 2014
Employee termination benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,238
Facility termination costs (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 742
Total restructuring expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,980
_____________________
(1) The year ended June 30, 2014 includes $472 of accelerated depreciation related to property, plant and equipment.
Form 10-K