Summary of Significant Accounting Policies Summary of Significant Accounting Principles (Tables)

3 Months Ended

Sep. 30, 2019

The following table summarizes the components of other income, net:




	2019			2018
Gains on derivatives not designated as hedging instruments (1)	$	19,357		$	7,373
Currency-related (losses) gains, net (2)	(3,412		)	2,097
Other (losses) gains	(271		)	782
Total other income, net	$	15,674		$	10,252

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(1) Primarily relates to both realized and unrealized gains (losses) on derivative currency forward and option contracts not designated as hedging instruments.

(2) We have significant non-functional currency intercompany financing relationships that we may change at times and are subject to currency exchange rate volatility. The currency-related (losses) gains, net for the three months ended September 30, 2019 and 2018 are primarily driven by this intercompany activity. In addition, we have certain cross-currency swaps designated as cash flow hedges, which hedge the remeasurement of certain intercompany loans, both presented in the same component above. The unrealized gain related to cross-currency swaps was $4,678 for the three months ended September 30, 2019 while we had an unrealized loss of $837 for the three months ended September 30, 2018.

Schedule of Weighted Average Number of Shares

The following table sets forth the reconciliation of the weighted-average number of ordinary shares:



	Three Months Ended September 30,
	2019	2018
Weighted average shares outstanding, basic	29,747,035	30,883,617
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/RSAs	782,437	—
Shares used in computing diluted net income (loss) per share attributable to Cimpress N.V.	30,529,472	30,883,617
Weighted average anti-dilutive shares excluded from diluted net income (loss) per share attributable to Cimpress N.V. (1)	—	1,222,905

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(1) In the periods in which a net loss is recognized, the impact of share options, RSUs, and RSAs is not included as they are anti-dilutive.

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table summarizes the cumulative effect of adopting the new lease standard as of the adoption date of July 1, 2019:



Consolidated Balance Sheet	As reported at June 30, 2019		ASC 842 adjustments			Adjusted balance at July 1, 2019
Assets
Prepaid expenses and other current assets	$	78,065	$	(59	)	$	78,006
Property, plant and equipment, net	490,755		(121,254		)	369,501
Operating lease assets, net	—		169,668			169,668
Deferred tax assets	59,906		(817		)	59,089
Liabilities and Shareholders' Equity
Operating lease liabilities, current	$	—	$	37,342		$	37,342
Other current liabilities	27,881		(12,569		)	15,312
Lease financing obligation	112,096		(112,096		)	—
Operating lease liabilities, non-current	—		139,041			139,041
Other liabilities	53,716		(7,169		)	46,547
Retained earnings	537,422		2,989			540,411