Vistaprint 2015 Annual Report Download - page 97

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carrying value of the investment. For the years ended June 30, 2014 and 2013 we recorded a loss of $2,704 and
$1,910 respectively, attributable to Namex in our consolidated statement of operations.
17. Segment Information
During the first quarter of fiscal 2015 we revised our internal management organizational and reporting
structure to better align to our strategy of delivering mass customized products to multiple customer segments via
various brands. Our operating segments are based upon our internal organization structure, the manner in which
our operations are managed and the availability of separate financial information reported internally to the Chief
Executive Officer, who is our Chief Operating Decision Maker (“CODM”) for purposes of making decisions about
how to allocate resources and assess performance. The CODM measures and evaluates the performance of our
operating segments based on revenue and income (loss) from operations. We have identified several operating
segments under our new management reporting structure which are reported in the following two reportable
segments:
• Vistaprint Business Unit - Aggregates the operations of our core Vistaprint-branded business in the North
America, Europe, Australia and New Zealand markets, and our Webs-branded business, which is managed
with the Vistaprint-branded digital business in the previously listed geographies.
• All Other Business Units - Includes the operations of our Albumprinter, druck.at, Exagroup, Easyflyer,
Printdeal, Pixartprinting, and Most of World business units. Our Most of World business unit is focused on
our emerging market portfolio, including operations in Brazil, India and Japan. These business units have
been combined into one reportable segment based on materiality.
Consistent with our historical reporting, the cost of our global legal, human resource, finance, facilities
management, software and manufacturing engineering, and the global component of our IT operations functions
are generally not allocated to the reporting segments and are instead reported and disclosed under the caption
"Corporate and global functions." Corporate and global functions is a cost center and does not meet the definition of
an operating segment.
During the fourth quarter of fiscal 2015, we transferred a group of software and manufacturing engineers
from the corporate and global functions cost center to the Vistaprint Business Unit due to changes in our internal
organizational structure. We have revised our presentation of all prior periods presented to reflect our revised
segment reporting.
There are no internal revenue transactions between our operating segments, and we do not allocate non-
operating income to our segment results. All intersegment transfers are recorded at cost for presentation to the
CODM, for example, we allocate costs related to products manufactured by our global network of production
facilities to the applicable operating segment. There is no intercompany profit or loss recognized on these
transactions.
The following factors, among others, may limit the comparability of income from operations by segment:
• We do not allocate support costs across operating segments or corporate and global functions.
• Some of our recently acquired business units are burdened by the costs of their local finance, HR, and
other administrative support functions, whereas other business units leverage our global functions and
do not receive an allocation for these services.
• Our All Other Business Units reporting segment includes our Most of World business unit, which has
operating losses as it is in its early stage of investment relative to the scale of the underlying business.
It also includes amortization of intangible assets resulting from our various acquisitions.
Our balance sheet information is not presented to the CODM on an allocated basis, and therefore we do
not present asset information by segment.
Revenue by segment is based on the business unit-specific websites through which the customer’s order
was transacted. The following tables set forth revenue and income from operations by reportable segment.
Form 10-K