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

6 Months Ended

Dec. 31, 2022

The following is a summary of the net carrying amount, unrealized gains, unrealized losses, and fair value of held-to-maturity securities by type and contractual maturity as of December 31, 2022 and June 30, 2022.


	December 31, 2022
	Amortized cost		Unrealized losses		Fair value
Due within one year or less:
Commercial paper	$	40,985	$	(227)	$	40,758
Corporate debt securities	39,821		(304)		39,517
U.S. government securities	4,264		(66)		4,198
Total due within one year or less	85,070		(597)		84,473
Due between one and two years:
Corporate debt securities	12,144		(253)		11,891
U.S. government securities	4,963		(80)		4,883
Total due within between one and two years	17,107		(333)		16,774

Total held-to-maturity securities	$	102,177	$	(930)	$	101,247


	June 30, 2022
	Amortized cost		Unrealized losses		Fair value
Due within one year or less:
Corporate debt securities	$	49,952	$	(546)	$	49,406
Total held-to-maturity securities	$	49,952	$	(546)	$	49,406

Interest and Other Income

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


	Three Months Ended December 31,				Six Months Ended December 31,
	2022		2021		2022		2021
(Losses) gains on derivatives not designated as hedging instruments (1)	$	(24,196)	$	6,481	$	4,449	$	19,808
Currency-related gains, net (2)	6,227		5,551		6,030		5,874
Other gains (losses)	577		807		(474)		327
Total other (expense) income, net	$	(17,392)	$	12,839	$	10,005	$	26,009

_____________________

(1) Includes realized and unrealized gains and losses on derivative currency forward and option contracts not designated as hedging instruments, as well as the ineffective portion of certain interest rate swap contracts that were de-designated from hedge accounting in the prior periods. For contracts not designated as hedging instruments, we realized gains of $16,368 and $30,988 for the three and six months ended December 31, 2022, and losses of $746 and $4,418 for the three and six months ended December 31, 2021. Refer to Note 4 for additional details relating to our derivative contracts.

(2) Currency-related gains, net primarily relates to significant non-functional currency intercompany financing relationships that we may change at times and are subject to currency exchange rate volatility. In addition, we have a cross-currency swap designated as a cash flow hedge which hedges the remeasurement of an intercompany loan. Refer to Note 4 for additional details relating to this cash flow hedge.

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 December 31,		Six Months Ended December 31,
	2022	2021	2022	2021
Weighted average shares outstanding, basic	26,234,747	26,096,786	26,206,782	26,084,518
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/warrants (1)	—	305,917	—	408,740
Shares used in computing diluted net (loss) income per share attributable to Cimpress plc	26,234,747	26,402,703	26,206,782	26,493,258
Weighted average anti-dilutive shares excluded from diluted net (loss) income per share attributable to Cimpress plc (1)(2)	3,286,936	567,220	2,987,875	292,834

___________________

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

(2) On May 1, 2020, we entered into a financing arrangement with Apollo Global Management, Inc., which included 7-year warrants with a strike price of $60 that have a potentially dilutive impact on our weighted average shares outstanding. For the three and six months ended December 31, 2022, the weighted average anti-dilutive effect of the warrants was 1,055,377 shares in both periods, and 281,884 and 345,722 shares for the three and six months ended December 31, 2021, respectively.