Deluxe (DLX) 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 20, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	DELUXE CORP
Entity Central Index Key	27,996
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		48,914,993

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 71,010	$ 62,427
Trade accounts receivable (net of allowances for uncollectible accounts of $4,127 and $4,816, respectively)	105,919	123,654
Inventories and supplies	39,953	41,956
Funds held for customers	53,270	53,343
Other current assets	42,421	44,608
Total current assets	312,573	325,988
Deferred income taxes	1,316	1,238
Long-term investments (including $1,647 and $2,091 of investments at fair value, respectively)	41,936	41,691
Property, plant and equipment (net of accumulated depreciation of $348,317 and $344,785, respectively)	84,121	85,732
Assets held for sale	13,968	13,969
Intangibles (net of accumulated amortization of $426,069 and $407,747, respectively)	282,646	285,311
Goodwill	976,508	976,415
Other non-current assets	119,689	111,809
Total assets	1,832,757	1,842,153
Current liabilities:
Accounts payable	78,777	87,575
Accrued liabilities	210,818	228,423
Short-term borrowings	416,000	434,000
Long-term debt due within one year	1,040	1,045
Total current liabilities	706,635	751,043
Long-term debt	198,027	193,973
Deferred income taxes	80,947	81,076
Other non-current liabilities	$ 63,282	$ 70,992
Commitments and contingencies (Notes 11 and 12)
Shareholders' equity:
Common shares $1 par value (authorized: 500,000 shares; outstanding: 2016 - 48,910; 2015 - 49,019)	$ 48,910	$ 49,019
Retained earnings	785,069	751,253
Accumulated other comprehensive loss	(50,113)	(55,203)
Total shareholders' equity	783,866	745,069
Total liabilities and shareholders' equity	$ 1,832,757	$ 1,842,153

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Allowances for uncollectible accounts	$ 4,127	$ 4,816
Investments at fair value	1,647	2,091
Accumulated depreciation	348,317	344,785
Accumulated amortization	$ 426,069	$ 407,747
Shareholders' equity:
Common stock, par value (per share)	$ 1	$ 1
Common stock, shares authorized	500,000	500,000
Common stock, shares outstanding	48,910	49,019

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Product revenue	$ 366,185	$ 355,013
Service revenue	93,113	78,604
Total revenue	459,298	433,617
Cost of products	(130,594)	(123,739)
Cost of services	(33,711)	(28,942)
Total cost of revenue	(164,305)	(152,681)
Gross profit	294,993	280,936
Selling, general and administrative expense	(201,471)	(195,378)
Net restructuring charges	(879)	(267)
Operating income	92,643	85,291
Loss on early debt extinguishment	0	(8,917)
Interest expense	(5,243)	(6,515)
Other income	150	430
Income before income taxes	87,550	70,289
Income tax provision	(29,448)	(24,349)
Net income	58,102	45,940
Comprehensive income	$ 63,192	$ 40,183
Basic earnings per share	$ 1.18	$ 0.92
Diluted earnings per share	1.18	0.91
Cash dividends per share	$ 0.30	$ 0.30

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - 3 months ended Mar. 31, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Common shares par value [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive loss [Member]
Balance at Dec. 31, 2015	$ 745,069	$ 49,019	$ 0	$ 751,253	$ (55,203)
Balance (in shares) at Dec. 31, 2015	49,019
Net income	$ 58,102	0	0	58,102	0
Cash dividends	(14,740)	0	0	(14,740)	0
Common shares issued	$ 4,869	214	4,655	0	0
Common shares issued (in shares)	214
Common shares repurchased	$ (15,004)	(278)	(5,180)	(9,546)	0
Common shares repurchased (in shares)	(278)
Other common shares retired	$ (2,513)	(45)	(2,468)	0	0
Other common shares retired (in shares)	(45)
Fair value of share-based compensation	$ 2,993	0	2,993	0	0
Other comprehensive income	5,090	0	0	0	5,090
Balance at Mar. 31, 2016	$ 783,866	$ 48,910	$ 0	$ 785,069	$ (50,113)
Balance (in shares) at Mar. 31, 2016	48,910

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 58,102	$ 45,940
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	3,731	3,933
Amortization of intangibles	18,148	13,750
Amortization of contract acquisition costs	4,607	4,831
Deferred income taxes	(360)	(1,215)
Employee share-based compensation expense	3,424	3,155
Loss on early debt extinguishment	0	8,917
Other non-cash items, net	1,600	808
Changes in assets and liabilities, net of effect of acquisitions:
Trade accounts receivable	17,153	16,395
Inventories and supplies	2,015	1,409
Other current assets	(45)	5,082
Non-current assets	(414)	1,215
Accounts payable	(8,409)	(10,851)
Contract acquisition payments	(9,259)	(2,947)
Other accrued and non-current liabilities	(17,625)	(11,892)
Net cash provided by operating activities	72,668	78,530
Cash flows from investing activities:
Purchases of capital assets	(10,189)	(9,512)
Payments for acquisitions, net of cash acquired	(6,667)	(7,584)
Other	(4,152)	463
Net cash used by investing activities	(21,008)	(16,633)
Cash flows from financing activities:
Net (payments) proceeds from short-term borrowings	(18,000)	158,000
Payments on long-term debt, including costs of debt reacquisition	(268)	(207,242)
Payments for debt issue costs	(41)	(97)
Proceeds from issuing shares under employee plans	2,585	3,389
Excess tax benefit from share-based employee awards	0	1,260
Employee taxes paid for shares withheld	(851)	(827)
Payments for common shares repurchased	(15,004)	0
Cash dividends paid to shareholders	(14,740)	(15,011)
Other	(376)	(150)
Net cash used by financing activities	(46,695)	(60,678)
Effect of exchange rate change on cash	3,618	(4,441)
Net change in cash and cash equivalents	8,583	(3,222)
Cash and cash equivalents, beginning of year	62,427	61,541
Cash and cash equivalents, end of period	$ 71,010	$ 58,319

Consolidated financial statemen

Consolidated financial statements	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated financial statements	Consolidated financial statements The consolidated balance sheet as of March 31, 2016 , the consolidated statements of comprehensive income for the quarters ended March 31, 2016 and 2015 , the consolidated statement of shareholders’ equity for the quarter ended March 31, 2016 , and the consolidated statements of cash flows for the quarters ended March 31, 2016 and 2015 are unaudited. The consolidated balance sheet as of December 31, 2015 was derived from audited consolidated financial statements, but does not include all disclosures required by generally accepted accounting principles (GAAP) in the United States of America. In the opinion of management, all adjustments necessary for a fair statement of the consolidated financial statements are included. Adjustments consist only of normal recurring items, except for any discussed in the notes below. Interim results are not necessarily indicative of results for a full year. The consolidated financial statements and notes are presented in accordance with instructions for Form 10-Q, and do not contain certain information included in our annual consolidated financial statements and notes. The consolidated financial statements and notes appearing in this report should be read in conjunction with the consolidated audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2015 (the “2015 Form 10-K”).

New accounting pronouncements

New accounting pronouncements	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New accounting pronouncements	New accounting pronouncements Recently adopted accounting pronouncements – In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . The standard requires that a performance target that affects vesting and that could be achieved after the requisite service period should be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. We adopted this standard on January 1, 2016. As our accounting treatment for these awards was in compliance with the new guidance, adoption of this standard had no impact on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs. The standard requires that debt issuance costs related to a recognized debt liability be presented in the consolidated balance sheets as a direct reduction from the carrying amount of the debt liability. We adopted this standard on January 1, 2016, applying it retrospectively. The consolidated balance sheet as of December 31, 2015 reflects the reclassification of debt issuance costs of $2,249 from other non-current assets to long-term debt. The amount of debt issuance costs included in long-term debt as of March 31, 2016 was $2,135 . In August 2015, the FASB issued ASU No. 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements – Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting . This standard adds SEC paragraphs pursuant to the SEC Staff announcement at the June 18, 2015 Emerging Issues Task Force (EITF) meeting about the presentation and subsequent measurement of debt issuance costs associated with line-of-credit arrangements. Under this guidance, the SEC Staff would not object to presenting such costs as an asset and subsequently amortizing the deferred costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings under the arrangement. As of December 31, 2015, debt issuance costs of $2,003 related to our line-of-credit arrangement were included within other current assets. We continue to include these costs within other current assets, amortizing them over the term of the arrangement. In April 2015, the FASB issued ASU No. 2015-05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement . The standard provides guidance to customers about whether a cloud computing arrangement includes a software license. If the arrangement does include a software license, the software license element of the arrangement should be accounted for in the same manner as the acquisition of other software licenses. We adopted this standard on January 1, 2016, applying it prospectively to all arrangements entered into or materially modified on or after January 1, 2016. Adoption of this standard did not have a significant impact on our results of operations or financial position. In May 2015, the FASB issued ASU No. 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or its Equivalent) . Under the standard, investments measured at net asset value (NAV) as a practical expedient for fair value are excluded from the fair value hierarchy. As such, they are not assigned a fair value measurement level in financial statement disclosures of fair value. This standard was effective for us on January 1, 2016. It impacts the disclosures included in our Annual Report on Form 10-K regarding the plan assets of our postretirement benefit plan. As such, we will reflect this new guidance in the disclosures included in our Form 10-K for the year ending December 31, 2016, applying the guidance retrospectively to all periods presented. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory . The standard requires that inventory within the scope of the guidance be measured at the lower of cost or net realizable value. Previously, inventory was measured at the lower of cost or market. We elected to early adopt this standard on January 1, 2016, applying it prospectively. Application of this standard did not have a significant impact on our results of operations or financial position. In September 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments. When recording the purchase price allocation for a business combination in the financial statements, an acquirer may record preliminary amounts when measurements are incomplete as of the end of a reporting period. When the required information is received to finalize the purchase price allocation, the preliminary amounts are adjusted. These adjustments are referred to as measurement-period adjustments. This standard eliminates the requirement to restate prior period financial statements for measurement-period adjustments. Instead, it requires that the cumulative impact of a measurement-period adjustment be recognized in the reporting period in which the adjustment is identified. We adopted this standard on January 1, 2016, applying it prospectively. Application of this standard did not have a significant impact on our results of operations or financial position. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting . The standard is intended to simplify various aspects of the accounting and presentation of share-based payments. We elected to early adopt this standard as of January 1, 2016. Adoption of this standard had the following impacts on our consolidated financial statements: • Consolidated statements of comprehensive income – The new standard requires that the tax effects of share-based compensation be recognized in the income tax provision. Previously, these amounts were recognized in additional paid-in capital. For the quarter ended March 31, 2016, net tax benefits of $491 related to share-based compensation awards were recognized as a reduction of income tax expense in the consolidated statement of comprehensive income. In addition, in calculating potential common shares used to determine diluted earnings per share, GAAP requires us to use the treasury stock method. The new standard requires that assumed proceeds under the treasury stock method be modified to exclude the amount of excess tax benefits that would have been recognized in additional paid-in capital. These changes were applied on a prospective basis and resulted in a $0.01 increase in basic and diluted earnings per share for the quarter ended March 31, 2016. In recording share-based compensation expense, the standard allows companies to make a policy election as to whether they will include an estimate of awards expected to be forfeited or whether they will account for forfeitures as they occur. We have elected to include an estimate of forfeitures in the computation of our share-based compensation expense. As this treatment is consistent with previous guidance, this election had no impact on our consolidated financial statements. • Consolidated statements of cash flows – The standard requires that excess tax benefits from share-based employee awards be reported as operating activities in the consolidated statements of cash flows. Previously, these cash flows were included in financing activities. We elected to apply this change on a prospective basis, resulting in an increase in net cash provided by operating activities and in net cash used by financing activities of $599 for the quarter ended March 31, 2016. The standard requires that employee taxes paid when an employer withholds shares for tax-withholding purposes be reported as financing activities in the consolidated statements of cash flows. Previously, these cash flows were included in operating activities. This change was required to be applied on a retrospective basis. As such, the consolidated statement of cash flows for the prior period was restated. This change resulted in an increase in net cash provided by operating activities and in net cash used by financing activities of $851 for the quarter ended March 31, 2016 and $827 for the quarter ended March 31, 2015. Accounting pronouncements not yet adopted – In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers . The standard provides revenue recognition guidance for any entity that enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets, unless those contracts are within the scope of other accounting standards. The standard also expands the required financial statement disclosures regarding revenue recognition. The new guidance is effective for us on January 1, 2018. In addition, in March 2016, the FASB issued ASU No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , and in April 2016, the FASB issued ASU No. 2016-10, Identifying Performance Obligations and Licensing . Both of these standards are intended to clarify aspects of ASU No. 2014-09 and are effective for us upon adoption of ASU No. 2014-09. We are currently assessing the impact of these standards on our consolidated financial statements, as well as the method of transition that we will use in adopting the new guidance. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities . The standard is intended to improve the recognition, measurement, presentation and disclosure of financial instruments. The guidance is effective for us on January 1, 2018. We do not expect the application of this standard to have a significant impact on our results of operations or financial position. In February 2016, the FASB issued ASU No. 2016-02, Leasing . The standard is intended to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities for virtually all leases and by requiring the disclosure of key information about leasing arrangements. The guidance is effective for us on January 1, 2019, and requires adoption using a modified retrospective approach. We are currently assessing the impact of this standard on our consolidated financial statements.

Supplemental balance sheet info

Supplemental balance sheet information	3 Months Ended
	Mar. 31, 2016
Balance Sheet Related Disclosures [Abstract]
Supplemental balance sheet information	Supplemental balance sheet information Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) March 31, December 31, Raw materials $ 5,903 $ 5,719 Semi-finished goods 8,039 8,208 Finished goods 22,974 24,955 Supplies 3,037 3,074 Inventories and supplies $ 39,953 $ 41,956 Available-for-sale securities – Available-for-sale securities included within funds held for customers and other current assets were comprised of the following: March 31, 2016 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Canadian and provincial government securities $ 8,493 $ — $ (95 ) $ 8,398 Canadian guaranteed investment certificates 7,690 — — 7,690 Available-for-sale securities $ 16,183 $ — $ (95 ) $ 16,088 (1) Funds held for customers, as reported on the consolidated balance sheet as of March 31, 2016 , also included cash of $37,182 . December 31, 2015 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Canadian and provincial government securities $ 7,932 $ — $ (91 ) $ 7,841 Canadian guaranteed investment certificates 7,226 — — 7,226 Available-for-sale securities (funds held for customers) (1) 15,158 — (91 ) 15,067 Canadian money market fund (other current assets) 1,616 — — 1,616 Available-for-sale securities $ 16,774 $ — $ (91 ) $ 16,683 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2015 , also included cash of $38,276 . Expected maturities of available-for-sale securities as of March 31, 2016 were as follows: (in thousands) Fair value Due in one year or less $ 8,580 Due in two to five years 4,199 Due in six to ten years 3,309 Available-for-sale securities $ 16,088 Further information regarding the fair value of available-for-sale securities can be found in Note 8. Assets held for sale – Assets held for sale as of March 31, 2016 and December 31, 2015 included the operations of one small business distributor that we previously acquired. The distributor is included in our Small Business Services segment and the assets acquired consisted primarily of a customer list intangible asset. We are actively marketing this distributor and expect the selling price will exceed its carrying value. Net assets held for sale consisted of the following: (in thousands) March 31, December 31, Balance sheet caption Current assets $ 4 $ 3 Other current assets Intangibles 13,533 13,533 Assets held for sale Other non-current assets 435 436 Assets held for sale Accrued liabilities (118 ) (366 ) Accrued liabilities Deferred income tax liabilities (5,772 ) (5,777 ) Other non-current liabilities Net assets held for sale $ 8,082 $ 7,829 Intangibles – Intangibles were comprised of the following: March 31, 2016 December 31, 2015 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Indefinite-lived intangibles: Trade name $ 19,100 $ — $ 19,100 $ 19,100 $ — $ 19,100 Amortizable intangibles: Internal-use software 383,463 (319,260 ) 64,203 375,037 (310,665 ) 64,372 Customer lists/relationships 209,912 (62,567 ) 147,345 202,682 (54,990 ) 147,692 Trade names 64,881 (37,556 ) 27,325 64,881 (36,325 ) 28,556 Software to be sold 28,500 (4,557 ) 23,943 28,500 (3,765 ) 24,735 Other 2,859 (2,129 ) 730 2,858 (2,002 ) 856 Amortizable intangibles 689,615 (426,069 ) 263,546 673,958 (407,747 ) 266,211 Intangibles $ 708,715 $ (426,069 ) $ 282,646 $ 693,058 $ (407,747 ) $ 285,311 Amortization of intangibles was $18,148 for the quarter ended March 31, 2016 and $13,750 for the quarter ended March 31, 2015 . Based on the intangibles in service as of March 31, 2016 , estimated future amortization expense is as follows: (in thousands) Estimated amortization expense Remainder of 2016 $ 49,804 2017 53,575 2018 39,544 2019 28,717 2020 23,978 During the quarter ended March 31, 2016 , we acquired internal-use software in the normal course of business. We also acquired other intangible assets in conjunction with acquisitions (Note 6). The following intangible assets were acquired during the quarter ended March 31, 2016 : (in thousands) Amount Weighted-average amortization period (in years) Internal-use software $ 8,150 3 Customer lists/relationships 6,997 7 Acquired intangibles $ 15,147 5 Goodwill – Changes in goodwill during the quarter ended March 31, 2016 were as follows: (in thousands) Small Business Services Financial Services Direct Checks Total Balance, December 31, 2015: Goodwill, gross $ 671,295 $ 176,614 $ 148,506 $ 996,415 Accumulated impairment charges (20,000 ) — — (20,000 ) Goodwill, net of accumulated impairment charges 651,295 176,614 148,506 976,415 Currency translation adjustment 93 — — 93 Balance, March 31, 2016: Goodwill, gross 671,388 176,614 148,506 996,508 Accumulated impairment charges (20,000 ) — — (20,000 ) Goodwill, net of accumulated impairment charges $ 651,388 $ 176,614 $ 148,506 $ 976,508 Other non-current assets – Other non-current assets were comprised of the following: (in thousands) March 31, December 31, Contract acquisition costs $ 60,952 $ 58,792 Loans and notes receivable from distributors 23,663 23,957 Postretirement benefit plan asset 17,236 16,250 Deferred advertising costs 6,962 7,500 Restricted cash 5,951 — Other 4,925 5,310 Other non-current assets $ 119,689 $ 111,809 Restricted cash as of March 31, 2016 related to funds held in escrow for the acquisition of a small business distributor that closed in April 2016. Changes in restricted cash are included within other investing activities in the consolidated statement of cash flows for the quarter ended March 31, 2016. Changes in contract acquisition costs during the quarters ended March 31, 2016 and 2015 were as follows: Quarter Ended (in thousands) 2016 2015 Balance, beginning of year $ 58,792 $ 74,101 Additions (1) 6,792 1,907 Amortization (4,607 ) (4,831 ) Other (25 ) (2,259 ) Balance, end of period $ 60,952 $ 68,918 (1) Contract acquisition costs are accrued upon contract execution. Cash payments made for contract acquisition costs were $9,259 for the quarter ended March 31, 2016 and $2,947 for the quarter ended March 31, 2015 . Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) March 31, December 31, Funds held for customers $ 52,120 $ 52,366 Deferred revenue 41,458 48,119 Income taxes 26,212 6,573 Customer rebates 16,017 18,900 Employee profit sharing/cash bonus 11,475 40,683 Contract acquisition costs due within one year 8,096 9,045 Restructuring due within one year (Note 9) 2,764 3,864 Other 52,676 48,873 Accrued liabilities $ 210,818 $ 228,423

Earnings per share

Earnings per share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings per share	Earnings per share The following table reflects the calculation of basic and diluted earnings per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted earnings per share because their effect would have been antidilutive. Quarter Ended (dollars and shares in thousands, except per share amounts) 2016 2015 Earnings per share – basic: Net income $ 58,102 $ 45,940 Income allocated to participating securities (461 ) (293 ) Income available to common shareholders $ 57,641 $ 45,647 Weighted-average shares outstanding 48,780 49,699 Earnings per share – basic $ 1.18 $ 0.92 Earnings per share – diluted: Net income $ 58,102 $ 45,940 Income allocated to participating securities (459 ) (291 ) Re-measurement of share-based awards classified as liabilities 205 179 Income available to common shareholders $ 57,848 $ 45,828 Weighted-average shares outstanding 48,780 49,699 Dilutive impact of potential common shares 395 408 Weighted-average shares and potential common shares outstanding 49,175 50,107 Earnings per share – diluted $ 1.18 $ 0.91 Antidilutive options excluded from calculation 693 265

Other comprehensive income

Other comprehensive income	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other comprehensive income	Other comprehensive income Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net income was as follows: Accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affected line item in consolidated statements of comprehensive income Quarter Ended (in thousands) 2016 2015 Amortization of postretirement benefit plan items: Prior service credit $ 355 $ 355 (1) Net actuarial loss (949 ) (780 ) (1) Total amortization (594 ) (425 ) (1) Tax benefit 181 114 (1) Total reclassifications, net of tax $ (413 ) $ (311 ) (1) Amortization of postretirement benefit plan items is included in the computation of net periodic benefit income. Additional details can be found in Note 10. Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the quarter ended March 31, 2016 were as follows: (in thousands) Postretirement benefit plans, net of tax Net unrealized loss on marketable securities, net of tax Currency translation adjustment Accumulated other comprehensive loss Balance, December 31, 2015 $ (38,822 ) $ (114 ) $ (16,267 ) $ (55,203 ) Other comprehensive income before reclassifications — 1 4,676 4,677 Amounts reclassified from accumulated other comprehensive loss 413 — — 413 Net current-period other comprehensive income 413 1 4,676 5,090 Balance, March 31, 2016 $ (38,409 ) $ (113 ) $ (11,591 ) $ (50,113 )

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisitions	Acquisitions We periodically complete business combinations that align with our business strategy. The assets and liabilities acquired are recorded at their estimated fair values and the results of operations of each acquired business are included in our consolidated statements of comprehensive income from their acquisition dates. Transaction costs related to acquisitions were expensed as incurred and were not significant to the consolidated statements of comprehensive income for the quarters ended March 31, 2016 and 2015 . During the quarter ended March 31, 2016 , we completed the following acquisitions: • In February 2016, we acquired selected assets of Category 99, Inc., doing business as MacHighway®, a web hosting and domain registration service provider. The results of this business are included in our Small Business Services segment. We expect to finalize the allocation of the purchase price by the third quarter of 2016 when our valuation of all of the acquired assets and liabilities is completed, including the estimated useful life of the acquired customer list. • In March 2016, we acquired selected assets of New England Art Publishers, Inc., doing business as Birchcraft Studios, a supplier of personalized invitations, holiday cards, all-occasion cards and social announcements. The results of this business are included in our Small Business Services segment. We expect to finalize the allocation of the purchase price by the third quarter of 2016 when our valuation of all of the acquired assets and liabilities is completed, including the estimated useful life of the acquired customer list. • During the quarter ended March 31, 2016 , we acquired the operations of four small business distributors. The results of these businesses are included in our Small Business Services segment. As these distributors were previously part of our Safeguard® distributor network, our revenue was not impacted by these acquisitions and the impact to our costs was not significant. We expect to finalize the allocations of the purchase price by the third quarter of 2016 when our valuations of the acquired customer lists are completed, including the determination of the related estimated useful lives. As our acquisitions were immaterial to our operating results both individually and in the aggregate, pro forma results of operations are not provided. The following illustrates the preliminary allocation as of March 31, 2016 of the aggregate purchase price for the above acquisitions to the assets acquired: (in thousands) 2016 acquisitions Customer list intangible assets $ 6,997 Liabilities for holdback payments (1,194 ) Non-cash consideration (1) (277 ) Net cash paid for 2016 acquisitions 5,526 Holdback payments for prior year acquisitions 1,141 Payments for acquisitions, net of cash acquired $ 6,667 (1) Consists of pre-acquisition amounts owed to us by certain of the acquired businesses. Further information regarding the calculation of the estimated fair values of the intangibles acquired can be found in Note 8. During the quarter ended March 31, 2015, we acquired selected assets of Range, Inc., a marketing services provider; selected assets of Verify Valid LLC, a provider of electronic check payment services; and the operations of one small business distributor that was previously part of our Safeguard distributor network. The assets acquired consisted primarily of customer list intangible assets and goodwill. Payments for acquisitions, net of cash acquired, as presented on the consolidated statement of cash flows for the quarter ended March 31, 2015, included payments of $7,558 for these acquisitions and $26 for holdback payments for prior year acquisitions. Further information regarding our 2015 acquisitions can be found under the caption “Note 5: Acquisitions” in the Notes to Consolidated Financial Statements appearing in the 2015 Form 10-K.

Derivative financial instrument

Derivative financial instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative financial instruments	Derivative financial instruments We have entered into interest rate swaps, which we designated as fair value hedges, to hedge against changes in the fair value of our long-term debt. At the time we entered into these swaps in 2012, we were targeting a mix of fixed and variable rate debt, where we receive a fixed rate and pay a variable rate based on the London Interbank Offered Rate (LIBOR). The interest rate swaps related to our long-term debt due in 2020 have a notional amount of $200,000 and meet the criteria for using the short-cut method for a fair value hedge based on the structure of the hedging relationship. As such, changes in the fair value of the derivatives and the related long-term debt are equal. The fair value of these interest rate swaps was included in other non-current liabilities in the consolidated balance sheets and was $714 as of March 31, 2016 and $4,842 as of December 31, 2015 . As the short-cut method is being used to account for these hedges, the decrease in long-term debt due to fair value adjustments was also $714 as of March 31, 2016 and $4,842 as of December 31, 2015 .

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements 2016 acquisitions – For all acquisitions, we are required to measure the fair value of the net identifiable tangible and intangible assets and liabilities acquired, excluding goodwill and deferred income taxes. Information regarding the acquisitions completed during the quarter ended March 31, 2016 can be found in Note 6. The identifiable net assets acquired during the quarter ended March 31, 2016 were comprised of customer lists associated with the acquisitions of MacHighway and Birchcraft, as well as the acquisition of four small business distributors. The aggregate fair value of the acquired customer lists was $6,997 and was estimated by discounting the estimated cash flows expected to be generated by the assets. Assumptions used in the calculations included same-customer revenue growth rates and estimated customer retention rates based on the acquirees' historical information. Information regarding the useful lives of acquired intangibles can be found in Note 3. Recurring fair value measurements – Funds held for customers included available-for-sale marketable securities (Note 3). These securities consisted of a mutual fund investment that invests in Canadian and provincial government securities and investments in Canadian guaranteed investment certificates (GICs) with maturities of one year or less. The mutual fund is not traded in an active market and its fair value is determined by obtaining quoted prices in active markets for the underlying securities held by the fund. The fair value of the GICs approximated cost due to their relatively short duration. Unrealized gains and losses, net of tax, are included in accumulated other comprehensive loss in the consolidated balance sheets. The cost of securities sold is determined using the average cost method. Realized gains and losses are included in revenue in the consolidated statements of comprehensive income and were not significant for the quarters ended March 31, 2016 and 2015 . Other current assets as of December 31, 2015 included available-for-sale marketable securities (Note 3). These securities were sold during the quarter ended March 31, 2016, and consisted of a Canadian money market fund that was not traded in an active market. As such, the fair value of this investment was determined by obtaining quoted prices in active markets for the underlying securities held by the fund. Because of the short-term nature of the underlying investments, the cost of these securities approximated their fair value. No gains or losses on sales of these marketable securities were realized during the quarters ended March 31, 2016 and 2015 . We have elected to account for a long-term investment in domestic mutual funds under the fair value option for financial assets and financial liabilities. The fair value option provides companies an irrevocable option to measure many financial assets and liabilities at fair value with changes in fair value recognized in earnings. The investment is included in long-term investments in the consolidated balance sheets. Long-term investments also include the cash surrender values of company-owned life insurance policies. Realized and unrealized gains and losses, as well as dividends earned by the mutual fund investment, are included in selling, general and administrative (SG&A) expense in the consolidated statements of comprehensive income. This investment corresponds to a liability under an officers’ deferred compensation plan that is not available to new participants and is fully funded by the investment in mutual funds. The liability under the plan equals the fair value of the investment in mutual funds. Thus, as the value of the investment changes, the value of the liability changes accordingly. As changes in the liability are reflected within SG&A expense in the consolidated statements of comprehensive income, the fair value option of accounting for the investment in mutual funds allows us to net changes in the investment and the related liability in the statements of comprehensive income. The cost of securities sold is determined using the average cost method. During the quarters ended March 31, 2016 and 2015 , net realized gains were not significant. We recognized net unrealized losses of $377 during the quarter ended March 31, 2016 and $187 during the quarter ended March 31, 2015 . The fair value of interest rate swaps (Note 7) is determined at each reporting date by means of a pricing model utilizing readily observable market interest rates. The change in fair value is determined as the change in the present value of estimated future cash flows discounted using the LIBOR rate. Our interest rate swaps relate to our long-term debt due in 2020 and meet the criteria for using the short-cut method for a fair value hedge based on the structure of the hedging relationship. As such, the changes in the fair value of the derivative and related long-term debt are equal. Liabilities for contingent consideration related to acquisitions completed during 2015. Information concerning these acquisitions can be found under the caption "Note 5: Acquisitions" in the Notes to Consolidated Financial Statements included in the 2015 Form 10-K. Under the agreement related to the acquisition of Verify Valid, we are required to make annual contingent payments over a period of up to eight years , based on the revenue generated by the business. A specified payment percentage for each year is applied to the revenue generated by the business in that year to determine the amount of the payment. There is no maximum amount of contingent payments specified in the agreement . Under the agreement related to the acquisition of a small business distributor, we are required to make annual contingent payments over a period of up to three years , based on the gross profit generated by the business. A specified payment percentage for each year is applied to the gross profit generated by the business in that year to determine the amount of the payment. The maximum contingent payment in any year of the agreement is $925 . The fair value of the liabilities for contingent payments is estimated by discounting to present value the probability-weighted contingent payments expected to be made. Assumptions used in the calculations include the discount rate, projected revenue or gross profit based on our most recent internal forecast, and factors indicating the probability of achieving the forecasted revenue or gross profit. The liabilities are remeasured each reporting period. Increases or decreases in projected revenue or gross profit and the related probabilities may result in a higher or lower fair value measurement. Changes in fair value resulting from changes in the timing, amount of, or likelihood of contingent payments are included in SG&A expense in the consolidated statements of comprehensive income. Changes in fair value resulting from accretion for the passage of time are included in interest expense in the consolidated statements of comprehensive income. Information regarding recurring fair value measurements completed during each period was as follows: Fair value measurements using Fair value as of March 31, 2016 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Available-for-sale marketable securities (funds held for customers) $ 16,088 — $ — $ 16,088 $ — Long-term investment in mutual funds 1,647 1,647 — — Derivative liabilities (714 ) — (714 ) — Accrued contingent consideration (5,669 ) — — (5,669 ) Fair value measurements using Fair value as of December 31, 2015 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Available-for-sale marketable securities (funds held for customers) $ 15,067 $ — $ 15,067 $ — Available-for-sale marketable securities (other current assets) 1,616 — 1,616 — Long-term investment in mutual funds 2,091 2,091 — — Derivative liabilities (4,842 ) — (4,842 ) — Accrued contingent consideration (5,861 ) — — (5,861 ) Our policy is to recognize transfers between fair value levels as of the end of the reporting period in which the transfer occurred. There were no transfers between fair value levels during the quarter ended March 31, 2016 . Changes in accrued contingent consideration during the quarter ended March 31, 2016 were as follows: (in thousands) Quarter Ended March 31, 2016 Balance, December 31, 2015 $ 5,861 Change in fair value 184 Payments (376 ) Balance, March 31, 2016 $ 5,669 Fair value measurements of other financial instruments – The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate fair value. Cash, short-term borrowings, and cash included within funds held for customers – The carrying amounts reported in the consolidated balance sheets approximate fair value because of the short-term nature of these items. Loans and notes receivable from distributors – We have receivables for loans made to certain of our Safeguard distributors. In addition, we have acquired the operations of several small business distributors, which we then sold to our Safeguard distributors. In most cases, we entered into notes receivable upon the sale of the assets to the distributors. The fair value of these loans and notes receivable is calculated as the present value of expected future cash flows, discounted using an estimated interest rate based on published bond yields for companies of similar risk. Long-term debt – The fair value of long-term debt is based on significant observable market inputs other than quoted prices in active markets. The fair value of long-term debt included in the table below does not reflect the impact of hedging activity or debt issuance costs. The carrying amount of long-term debt includes the change in fair value of hedged long-term debt, as well as unamortized debt issuance costs (Note 11). The estimated fair values of these financial instruments were as follows: Fair value measurements using March 31, 2016 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) Carrying value Fair value (Level 1) (Level 2) (Level 3) Cash $ 71,010 $ 71,010 $ 71,010 $ — $ — Cash (funds held for customers) 37,182 37,182 37,182 — — Loans and notes receivable from distributors 25,756 23,057 — — 23,057 Short-term borrowings 416,000 416,000 416,000 — — Long-term debt (1) 197,151 210,756 — 210,756 — (1) Amounts exclude capital lease obligations. Fair value measurements using December 31, 2015 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) Carrying value Fair value (Level 1) (Level 2) (Level 3) Cash $ 62,427 $ 62,427 $ 62,427 $ — $ — Cash (funds held for customers) 38,276 38,276 38,276 — — Loans and notes receivable from distributors 25,745 23,383 — — 23,383 Short-term borrowings 434,000 434,000 434,000 — — Long-term debt (1) 192,909 207,000 — 207,000 — (1) Amounts exclude capital lease obligations.

Restructuring charges

Restructuring charges	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring charges	Restructuring charges Net restructuring charges for each period consisted of the following components: Quarter Ended (in thousands, except number of employees) 2016 2015 Severance accruals $ 891 $ 743 Severance reversals (372 ) (524 ) Operating lease obligations 59 — Net restructuring accruals 578 219 Other costs 290 45 Net restructuring charges $ 868 $ 264 Number of employees included in severance accruals 25 40 The net restructuring charges are reflected in the consolidated statements of comprehensive income as follows: Quarter Ended (in thousands) 2016 2015 Total cost of revenue $ (11 ) $ (3 ) Operating expenses 879 267 Net restructuring charges $ 868 $ 264 During the quarters ended March 31, 2016 and March 31, 2015 , the net restructuring accruals included severance charges related to employee reductions across functional areas as we continue to reduce costs, primarily within our sales and marketing, information technology and fulfillment functions. These charges were reduced by the reversal of restructuring accruals recorded in previous periods, as fewer employees received severance benefits than originally estimated. Other restructuring costs, which were expensed as incurred, included items such as information technology costs, employee and equipment moves, training and travel related to our restructuring activities. Restructuring accruals of $2,764 as of March 31, 2016 and $3,864 as of December 31, 2015 are included in accrued liabilities in the consolidated balance sheets. The majority of the employee reductions are expected to be completed by mid-2016, and we expect most of the related severance payments to be paid by the end of 2016, utilizing cash from operations. The remaining payments due under operating lease obligations will paid by the end of 2016. As of March 31, 2016 , approximately 10 employees had not yet started to receive severance benefits. Accruals for our restructuring initiatives, summarized by year, were as follows: (in thousands) 2014 initiatives 2015 initiatives 2016 initiatives Total Balance, December 31, 2015 $ 176 $ 3,688 $ — $ 3,864 Restructuring charges — 5 945 950 Restructuring reversals (111 ) (261 ) — (372 ) Payments (58 ) (1,494 ) (126 ) (1,678 ) Balance, March 31, 2016 $ 7 $ 1,938 $ 819 $ 2,764 Cumulative amounts: Restructuring charges $ 8,242 $ 6,132 $ 945 $ 15,319 Restructuring reversals (1,444 ) (719 ) — (2,163 ) Payments (6,791 ) (3,475 ) (126 ) (10,392 ) Balance, March 31, 2016 $ 7 $ 1,938 $ 819 $ 2,764 The components of our restructuring accruals, by segment, were as follows: Employee severance benefits Operating lease obligations (in thousands) Small Business Services Financial Services Direct Checks Corporate Small Business Services Financial Services Total Balance, December 31, 2015 $ 1,023 $ 884 $ — $ 1,859 $ 56 $ 42 $ 3,864 Restructuring charges 481 56 — 354 59 — 950 Restructuring reversals (80 ) (37 ) — (255 ) — — (372 ) Payments (641 ) (305 ) — (682 ) (34 ) (16 ) (1,678 ) Balance, March 31, 2016 $ 783 $ 598 $ — $ 1,276 $ 81 $ 26 $ 2,764 Cumulative amounts (1) : Restructuring charges $ 6,206 $ 4,315 $ 36 $ 4,365 $ 344 $ 53 $ 15,319 Restructuring reversals (1,280 ) (348 ) (2 ) (533 ) — — (2,163 ) Inter-segment transfer 41 (14 ) — (27 ) — — — Payments (4,184 ) (3,355 ) (34 ) (2,529 ) (263 ) (27 ) (10,392 ) Balance, March 31, 2016 $ 783 $ 598 $ — $ 1,276 $ 81 $ 26 $ 2,764 (1) Includes accruals related to our cost reduction initiatives for 2014 through 2016.

Postretirement benefits

Postretirement benefits	3 Months Ended
	Mar. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Postretirement benefits	Postretirement benefits We have historically provided certain health care benefits for a portion of our retired U.S. employees. In addition to our retiree health care plan, we also have a supplemental executive retirement plan in the United States. Further information regarding our postretirement benefit plans can be found under the caption “Note 12: Postretirement benefits” in the Notes to Consolidated Financial Statements appearing in the 2015 Form 10-K. Postretirement benefit income for each period consisted of the following components: Quarter Ended (in thousands) 2016 2015 Interest cost $ 780 $ 859 Expected return on plan assets (1,834 ) (1,958 ) Amortization of prior service credit (355 ) (355 ) Amortization of net actuarial losses 949 780 Net periodic benefit income $ (460 ) $ (674 )

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt Debt outstanding was comprised of the following: (in thousands) March 31, December 31, 6.0% senior notes due November 15, 2020, principal amount $ 200,000 $ 200,000 Less unamortized debt issuance costs (2,135 ) (2,249 ) Cumulative change in fair value of hedged debt (Note 7) (714 ) (4,842 ) 6.0% senior notes, carrying value 197,151 192,909 Long-term portion of capital lease obligations 876 1,064 Long-term portion of debt 198,027 193,973 Amount drawn on credit facility 416,000 434,000 Capital lease obligations due within one year 1,040 1,045 Total debt $ 615,067 $ 629,018 Our senior notes due in 2020 include covenants that place certain restrictions on the issuance of additional debt and limitations on certain liens. If our ratio of earnings before interest, taxes, depreciation and amortization (EBITDA) to interest expense, as defined in such instruments, falls below two to one, there would be additional limitations on our ability to issue additional debt. The notes due in 2020 also include limitations on our ability to issue redeemable stock and preferred stock, make loans and investments, and consolidate, merge or sell all or substantially all of our assets. Absent certain defined events of default under our debt instruments, and as long as our ratio of EBITDA to interest expense is in excess of two to one, our debt covenants do not restrict our ability to pay cash dividends at our current rate. There are currently no limitations on the amount of dividends and share repurchases under the terms of our credit facility agreement. However, if our leverage ratio, defined as total debt less unrestricted cash to EBITDA, should exceed 2.75 to one, there would be an annual limitation on the amount of dividends and share repurchases under the terms of this agreement. Long-term debt – In November 2012 , we issued $200,000 of 6.0% senior notes maturing on November 15, 2020 . The notes were issued via a private placement under Rule 144A of the Securities Act of 1933. These notes were subsequently registered with the Securities and Exchange Commission (SEC) via a registration statement that became effective on April 3, 2013. Interest payments are due each May and November. The notes are guaranteed by certain of our subsidiaries and place a limitation on restricted payments, including share repurchases and increases in dividend levels. The limitation on restricted payments does not apply if the notes are upgraded to an investment-grade credit rating. Financial information for the guarantor subsidiaries can be found in Note 15. At any time prior to November 15, 2016 , we may redeem some or all of the notes at a price equal to 100% of the principal amount plus accrued and unpaid interest and a make-whole premium. At any time on or after November 15, 2016 , we may redeem some or all of the notes at prices ranging from 100% to 103% of the principal amount. If at any time we sell certain of our assets or experience specific types of changes in control, we must offer to purchase all of the outstanding notes at 101% of the principal amount. We classify payments for early redemption premiums as financing activities in our consolidated statements of cash flows. Proceeds from the offering, net of offering costs, were $196,340 . These proceeds were used to retire our senior notes that were due in June 2015. The fair value of the notes issued in November 2012 was $210,756 as of March 31, 2016 , based on quoted prices that are directly observable. As discussed in Note 7, we have entered into interest rate swaps to hedge these notes. In March 2011 , we issued $200,000 of 7.0% senior notes that were schedule to mature on March 15, 2019 . The notes were issued via a private placement under Rule 144A of the Securities Act of 1933. These notes were subsequently registered with the SEC via a registration statement that became effective on January 10, 2012. Proceeds from the offering, net of offering costs, were $196,195 . These proceeds were used to retire a portion of our senior, unsecured notes due in 2012. In March 2015, we retired all of these notes, realizing a loss on early debt extinguishment of $8,917 during the quarter ended March 31, 2015 , consisting of a contractual call premium and the write-off of related debt issuance costs. This retirement was funded utilizing our credit facility and a short-term bank loan that we have since repaid. We had capital lease obligations of $1,916 as of March 31, 2016 and $2,109 as of December 31, 2015 related to information technology hardware. The lease obligations will be paid through December 2019 . The related assets are included in property, plant and equipment in the consolidated balance sheets. Depreciation of the leased assets is included in depreciation expense in the consolidated statements of cash flows. Short-term borrowings – As of March 31, 2016 , we had a $525,000 credit facility, which is scheduled to expire in February 2019 . Our quarterly commitment fee ranges from 0.20% to 0.40% based on our leverage ratio. Borrowings under the credit facility are collateralized by substantially all of our personal and intangible property. As of March 31, 2016 , $416,000 was drawn on our credit facility at a weighted-average interest rate of 1.89% . As of December 31, 2015 , $434,000 was drawn on our credit facility at a weighted-average interest rate of 1.89% . The credit agreement governing our credit facility contains customary covenants regarding limits on levels of subsidiary indebtedness and capital expenditures, liens, investments, acquisitions, certain mergers, certain asset sales outside the ordinary course of business, and change in control as defined in the agreement. The agreement also contains financial covenants regarding our leverage ratio, interest coverage and liquidity. In March 2015 , we entered into a $75,000 short-term variable rate bank loan. Proceeds from this loan, net of related costs, were $74,880 and were used, along with a draw on our credit facility, to retire all $200,000 of our 7.0% senior notes that were scheduled to mature on March 15, 2019 . During December 2015, we elected to repay this loan in full. Daily average amounts outstanding under our short-term borrowing arrangements were as follows: (in thousands) Quarter Ended Year Ended December 31, 2015 Credit facility: Daily average amount outstanding $ 431,264 $ 270,063 Weighted-average interest rate 1.81 % 1.66 % Short-term bank loan: Daily average amount outstanding $ — $ 47,178 Weighted-average interest rate — 1.59 % As of March 31, 2016 , amounts were available for borrowing under our credit facility as follows: (in thousands) Total available Credit facility commitment $ 525,000 Amount drawn on credit facility (416,000 ) Outstanding letters of credit (1) (12,737 ) Net available for borrowing as of March 31, 2016 $ 96,263 (1) We use standby letters of credit to collateralize certain obligations related primarily to our self-insured workers’ compensation claims, as well as claims for environmental matters, as required by certain states. These letters of credit reduce the amount available for borrowing under our credit facility.

Other commitments and contingen

Other commitments and contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Other commitments and contingencies	Other commitments and contingencies Indemnifications – In the normal course of business, we periodically enter into agreements that incorporate general indemnification language. These indemnifications encompass third-party claims arising from our products and services, including, without limitation, service failures, breach of security, intellectual property rights, governmental regulations and/or employment-related matters. Performance under these indemnities would generally be triggered by our breach of the terms of the contract. In disposing of assets or businesses, we often provide representations, warranties and/or indemnities to cover various risks, including, for example, unknown damage to the assets, environmental risks involved in the sale of real estate, liability to investigate and remediate environmental contamination at waste disposal sites and manufacturing facilities, and unidentified tax liabilities and legal fees related to periods prior to disposition. We do not have the ability to estimate the potential liability from such indemnities because they relate to unknown conditions. However, we do not believe that any liability under these indemnities would have a material adverse effect on our financial position, annual results of operations or annual cash flows. We have recorded liabilities for known indemnifications related to environmental matters. Environmental matters – We are currently involved in environmental compliance, investigation and remediation activities at some of our current and former sites, primarily printing facilities of our Financial Services and Small Business Services segments that have been sold. Remediation costs are accrued on an undiscounted basis when the obligations are either known or considered probable and can be reasonably estimated. Remediation or testing costs that result directly from the sale of an asset and which we would not have otherwise incurred are considered direct costs of the sale of the asset. As such, they are included in our measurement of the carrying value of the asset sold. Accruals for environmental matters were $5,649 as of March 31, 2016 and $5,952 as of December 31, 2015 , primarily related to facilities that have been sold. These accruals are included in accrued liabilities and other non-current liabilities in the consolidated balance sheets. Accrued costs consist of direct costs of the remediation activities, primarily fees that will be paid to outside engineering and consulting firms. Although recorded accruals include our best estimates, our total costs cannot be predicted with certainty due to various factors such as the extent of corrective action that may be required, evolving environmental laws and regulations and advances in environmental technology. Where the available information is sufficient to estimate the amount of the liability, that estimate is used. Where the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range is recorded. We do not believe that the range of possible outcomes could have a material effect on our financial condition, results of operations or liquidity. Expense reflected in the consolidated statements of comprehensive income for environmental matters was $171 for the quarter ended March 31, 2016 and $293 for the quarter ended March 31, 2015 . We purchased an insurance policy during 2002 that covers up to $10,000 of third-party claims through 2032 at certain owned, leased and divested sites, as well as any conditions discovered at certain owned or leased sites through 2012. We also have an additional environmental site liability insurance policy providing coverage on facilities that we acquired subsequent to 2002. This policy covers liability for claims of bodily injury or property damage arising from pollution events at the covered facilities. The policy also provides remediation coverage should we be required by a governing authority to perform remediation activities at the covered sites. The policy provides coverage of up to $15,000 through April 2019. No accruals have been recorded in our consolidated financial statements for any of the events contemplated in these insurance policies. We do not anticipate significant net cash outlays for environmental matters during 2016. Self-insurance – We are self-insured for certain costs, primarily workers' compensation claims and medical and dental benefits for active employees and those employees on long-term disability. The liabilities associated with these items represent our best estimate of the ultimate obligations for reported claims plus those incurred, but not reported, and totaled $6,328 as of March 31, 2016 and $6,457 as of December 31, 2015 . These accruals are included in accrued liabilities and other non-current liabilities in the consolidated balance sheets. Our workers' compensation liability is accounted for on a present value basis. The difference between the discounted and undiscounted liability was not significant as of March 31, 2016 or December 31, 2015 . Our self-insurance liabilities are estimated, in part, by considering historical claims experience, demographic factors and other actuarial assumptions. The estimated accruals for these liabilities could be significantly affected if future events and claims differ from these assumptions and historical trends. Litigation – On September 2, 2014, one of our suppliers filed a petition for binding arbitration under the Commercial Rules of the American Arbitration Association, alleging that it is entitled to additional payment from us under our reseller agreement and seeking damages of up to approximately $43,000 . We did not record a liability for damages in connection with this matter in our consolidated balance sheets. In March 2016, the arbitrator rejected all of the supplier's claims and ruled in our favor. Recorded liabilities for legal matters were not material to our financial position, results of operations or liquidity, and we do not believe that any of the currently identified claims or litigation will materially affect our financial position, results of operations or liquidity upon resolution. However, litigation is subject to inherent uncertainties, and unfavorable rulings could occur. If an unfavorable ruling were to occur, it may cause a material adverse impact on our financial position, results of operations or liquidity for the period in which the ruling occurs or in future periods.

Shareholders' equity

Shareholders' equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Shareholders' equity	Shareholders’ equity We have an outstanding authorization from our board of directors to purchase up to 10,000 shares of our common stock. This authorization has no expiration date, and 688 shares remained available for purchase under this authorization as of March 31, 2016 . During the quarter ended March 31, 2016 , we repurchased 278 shares for $15,004 . In May 2016, our board of directors approved an additional authorization for the repurchase of up to $300,000 of our common stock. This authorization has no expiration date.

Business segment information

Business segment information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Business segment information	Business segment information We operate three reportable business segments: Small Business Services, Financial Services and Direct Checks. Our business segments are generally organized by type of customer served and reflect the way we manage the company. Small Business Services promotes and sells products and services to small businesses via direct response mail and internet advertising; referrals from financial institutions, telecommunications clients and other partners; our networks of distributors and independent dealers; a direct sales force that focuses on selling to and through major accounts; and an outbound telemarketing group. Financial Services' products and services are sold primarily through a direct sales force, which executes product and service supply contracts with our financial institution clients nationwide, including banks, credit unions and financial services companies. In the case of check supply contracts, once the financial institution relationship is established, consumers may submit their check orders through their financial institution or over the phone or internet. Direct Checks sells products and services directly to consumers using direct marketing, including print advertising and search engine marketing and optimization strategies. All three segments operate primarily in the United States. Small Business Services also has operations in Canada and portions of Europe. Our product and service offerings are comprised of the following: Checks – We remain one of the largest providers of checks in the United States. During 2015, checks represented 40.1% of our Small Business Services segment's revenue, 59.7% of our Financial Services segment's revenue and 84.6% of our Direct Checks segment's revenue. Marketing solutions and other services – We offer products and services that help small businesses and/or financial institutions promote their businesses and acquire customers, as well as various other service offerings. Our Small Business Services segment offers services designed to fulfill the marketing and sales needs of small businesses, including logo and web design; hosting and other web services; search engine optimization; marketing programs, including email, mobile, social media and other self-service marketing solutions; and digital printing services. In addition, Small Business Services offers specialized services, including fraud protection and security, payroll services and electronic checks, as well as promotional solutions such as postcards, brochures, retail packaging supplies, apparel, greeting cards and business cards. Financial Services offers a suite of financial technology ("FinTech") solutions focused on enabling financial institutions to better manage the customer life cycle for their retail and commercial customers. These FinTech solutions include outsourced marketing campaign targeting and execution, digital channel onboarding, loyalty and rewards, technology-enabled treasury services, financial performance management, and fraud protection and security services. Our Direct Checks segment provides fraud protection and security services, as well as package insert programs under which companies' marketing materials are included in our check packages. Forms – Our Small Business Services segment provides printed forms to small businesses, including deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices and personnel forms. This segment also offers computer forms compatible with accounting software packages commonly used by small businesses. Forms sold by our Financial Services and Direct Checks segments include deposit tickets and check registers. Accessories and other products – Small Business Services offers products designed to supply small business owners with the customized documents necessary to efficiently manage their business, including envelopes, office supplies, stamps and labels. Our Financial Services and Direct Checks segments offer checkbook covers and stamps. The accounting policies of the segments are the same as those described in the Notes to Consolidated Financial Statements included in the 2015 Form 10-K. We allocate corporate costs for our shared services functions to our business segments, including costs of our executive management, human resources, supply chain, finance, information technology and legal functions. Generally, where costs incurred are directly attributable to a business segment, primarily within the areas of information technology, supply chain, finance and legal, those costs are charged directly to that segment. Because we use a shared services approach for many of our functions, certain costs are not directly attributable to a business segment. These costs are allocated to our business segments based on segment revenue, as revenue is a measure of the relative size and magnitude of each segment and indicates the level of corporate shared services consumed by each segment. Corporate assets are not allocated to the segments and consist of property, plant and equipment; internal-use software; and inventories and supplies related to our corporate shared services functions of manufacturing, information technology and real estate, as well as long-term investments. We are an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations and the sharing of assets. Therefore, we do not represent that these segments, if operated independently, would report the operating income and other financial information shown. The following is our segment information as of and for the quarters ended March 31, 2016 and 2015 : Reportable Business Segments (in thousands) Small Business Services Financial Services Direct Checks Corporate Consolidated Total revenue from external 2016 $ 290,271 $ 127,248 $ 41,779 $ — $ 459,298 customers: 2015 276,966 111,540 45,111 — 433,617 Operating income: 2016 51,151 26,725 14,767 — 92,643 2015 49,448 20,410 15,433 — 85,291 Depreciation and amortization 2016 12,071 8,938 870 — 21,879 expense: 2015 10,209 5,990 1,484 — 17,683 Total assets: 2016 1,000,452 418,437 160,984 252,884 1,832,757 2015 953,165 277,994 163,301 268,587 1,663,047 Capital asset purchases: 2016 — — — 10,189 10,189 2015 — — — 9,512 9,512

Supplemental guarantor financia

Supplemental guarantor financial information	3 Months Ended
	Mar. 31, 2016
Supplemental guarantor financial information [Abstract]
Supplemental guarantor financial information	Supplemental guarantor financial information Our long-term notes due in 2020 (Note 11), as well as obligations under our credit facility, are jointly and severally guaranteed on a full and unconditional basis, subject to the release provisions described herein, by certain 100%-owned subsidiaries. The subsidiary guarantees with respect to our long-term notes are subject to release upon the occurrence of certain events: the sale of all or substantially all of a subsidiary's assets, when the requirements for defeasance of the guaranteed securities have been satisfied, when the subsidiary is declared an unrestricted subsidiary, or upon satisfaction and discharge of the indenture. The following supplemental condensed consolidating financial information reflects the summarized financial information of Deluxe Corporation, the guarantors on a combined basis and the non-guarantor subsidiaries on a combined basis. Separate financial statements of the guarantors are not presented because the guarantors are jointly, severally, fully and unconditionally liable under the guarantees, subject to the release provisions described herein, and we believe that the condensed consolidating financial statements presented are sufficient to provide an understanding of the financial position, results of operations and cash flows of the guarantors. We are an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations and the sharing of assets. Therefore, we do not represent that the financial information presented is indicative of the financial position, results of operations or cash flows that the entities would have reported if they had operated independently. The condensed consolidating financial statements should be read in conjunction with our consolidated financial statements. Deluxe Corporation Condensed Consolidating Balance Sheet (Unaudited) March 31, 2016 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total ASSETS Current assets: Cash and cash equivalents $ 10,474 $ 487 $ 60,437 $ (388 ) $ 71,010 Trade accounts receivable, net — 98,149 7,770 — 105,919 Inventories and supplies — 37,662 2,291 — 39,953 Funds held for customers — 57 53,213 — 53,270 Other current assets 8,757 31,678 1,986 — 42,421 Total current assets 19,231 168,033 125,697 (388 ) 312,573 Deferred income taxes 13,978 — 1,316 (13,978 ) 1,316 Long-term investments 34,201 7,735 — — 41,936 Property, plant and equipment, net 9,729 69,719 4,673 — 84,121 Assets held for sale — — 13,968 — 13,968 Intangibles, net 12,897 266,315 3,434 — 282,646 Goodwill — 974,973 1,535 — 976,508 Investments in consolidated subsidiaries 1,314,583 88,123 — (1,402,706 ) — Intercompany receivable 60,681 — 452 (61,133 ) — Other non-current assets 3,946 115,641 102 — 119,689 Total assets $ 1,469,246 $ 1,690,539 $ 151,177 $ (1,478,205 ) $ 1,832,757 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 15,271 $ 61,857 $ 2,037 $ (388 ) $ 78,777 Accrued liabilities 39,477 116,144 55,197 — 210,818 Short-term borrowings 416,000 — — — 416,000 Long-term debt due within one year 1,020 — 20 — 1,040 Total current liabilities 471,768 178,001 57,254 (388 ) 706,635 Long-term debt 197,999 — 28 — 198,027 Deferred income taxes — 94,925 — (13,978 ) 80,947 Intercompany payable — 61,133 — (61,133 ) — Other non-current liabilities 15,613 41,897 5,772 — 63,282 Total shareholders' equity 783,866 — 1,314,583 — 88,123 — (1,402,706 ) 783,866 Total liabilities and shareholders' equity $ 1,469,246 $ 1,690,539 $ 151,177 $ (1,478,205 ) $ 1,832,757 Deluxe Corporation Condensed Consolidating Balance Sheet (Unaudited) December 31, 2015 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total ASSETS Current assets: Cash and cash equivalents $ 5,187 $ 940 $ 56,422 $ (122 ) $ 62,427 Trade accounts receivable, net — 115,951 7,703 — 123,654 Inventories and supplies — 39,758 2,198 — 41,956 Funds held for customers — — 53,343 — 53,343 Other current assets 9,233 32,765 2,610 — 44,608 Total current assets 14,420 189,414 122,276 (122 ) 325,988 Deferred income taxes 13,498 — 1,238 (13,498 ) 1,238 Long-term investments 34,304 7,387 — — 41,691 Property, plant and equipment, net 10,111 71,017 4,604 — 85,732 Assets held for sale — — 13,969 — 13,969 Intangibles, net 9,066 273,051 3,194 — 285,311 Goodwill — 974,973 1,442 — 976,415 Investments in consolidated subsidiaries 1,248,549 81,099 — (1,329,648 ) — Intercompany receivable 99,506 — — (99,506 ) — Other non-current assets 3,858 107,767 184 — 111,809 Total assets $ 1,433,312 $ 1,704,708 $ 146,907 $ (1,442,774 ) $ 1,842,153 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 15,625 $ 69,809 $ 2,263 $ (122 ) $ 87,575 Accrued liabilities 23,567 148,279 56,577 — 228,423 Short-term borrowings 434,000 — — — 434,000 Long-term debt due within one year 1,026 — 19 — 1,045 Total current liabilities 474,218 218,088 58,859 (122 ) 751,043 Long-term debt 193,942 — 31 — 193,973 Deferred income taxes — 94,574 — (13,498 ) 81,076 Intercompany payable — 98,365 1,141 (99,506 ) — Other non-current liabilities 20,083 45,132 5,777 — 70,992 Total shareholders' equity 745,069 1,248,549 81,099 (1,329,648 ) 745,069 Total liabilities and shareholders' equity $ 1,433,312 $ 1,704,708 $ 146,907 $ (1,442,774 ) $ 1,842,153 Deluxe Corporation Condensed Consolidating Statement of Comprehensive Income (Unaudited) Quarter Ended March 31, 2016 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total Product revenue $ — $ 352,673 $ 13,512 $ — $ 366,185 Service revenue 33,818 88,117 6,113 (34,935 ) 93,113 Total revenue 33,818 440,790 19,625 (34,935 ) 459,298 Cost of products — (124,422 ) (6,172 ) — (130,594 ) Cost of services (38,028 ) (33,573 ) (1,710 ) 39,600 (33,711 ) Total cost of revenue (38,028 ) (157,995 ) (7,882 ) 39,600 (164,305 ) Gross profit (4,210 ) 282,795 11,743 4,665 294,993 Operating expenses — (189,359 ) (8,326 ) (4,665 ) (202,350 ) Operating (loss) income (4,210 ) 93,436 3,417 — 92,643 Interest expense (4,984 ) (2,770 ) (1 ) 2,512 (5,243 ) Other income 2,628 325 (291 ) (2,512 ) 150 (Loss) income before income taxes (6,566 ) 90,991 3,125 — 87,550 Income tax benefit (provision) 3,310 (31,981 ) (777 ) — (29,448 ) (Loss) income before equity in earnings of consolidated subsidiaries (3,256 ) 59,010 2,348 — 58,102 Equity in earnings of consolidated subsidiaries 61,358 2,348 — (63,706 ) — Net income $ 58,102 $ 61,358 $ 2,348 $ (63,706 ) $ 58,102 Comprehensive income $ 63,192 $ 66,395 $ 7,026 $ (73,421 ) $ 63,192 Deluxe Corporation Condensed Consolidating Statement of Comprehensive Income (Unaudited) Quarter Ended March 31, 2015 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total Product revenue $ — $ 332,738 $ 22,275 $ — $ 355,013 Service revenue 26,685 73,240 6,598 (27,919 ) 78,604 Total revenue 26,685 405,978 28,873 (27,919 ) 433,617 Cost of products — (112,252 ) (11,487 ) — (123,739 ) Cost of services (30,283 ) (28,580 ) (2,090 ) 32,011 (28,942 ) Total cost of revenue (30,283 ) (140,832 ) (13,577 ) 32,011 (152,681 ) Gross profit (3,598 ) 265,146 15,296 4,092 280,936 Operating expenses — (180,758 ) (10,795 ) (4,092 ) (195,645 ) Operating (loss) income (3,598 ) 84,388 4,501 — 85,291 Loss on early debt extinguishment (8,917 ) — — — (8,917 ) Interest expense (6,497 ) (1,370 ) — 1,352 (6,515 ) Other income 1,375 138 269 (1,352 ) 430 (Loss) income before income taxes (17,637 ) 83,156 4,770 — 70,289 Income tax benefit (provision) 6,501 (29,441 ) (1,409 ) — (24,349 ) (Loss) income before equity in earnings of consolidated subsidiaries (11,136 ) 53,715 3,361 — 45,940 Equity in earnings of consolidated subsidiaries 57,076 3,361 — (60,437 ) — Net income $ 45,940 $ 57,076 $ 3,361 $ (60,437 ) $ 45,940 Comprehensive income $ 40,183 $ 51,277 $ (2,707 ) $ (48,570 ) $ 40,183 Deluxe Corporation Condensed Consolidating Statement of Cash Flows (Unaudited) Quarter Ended March 31, 2016 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total Net cash provided by operating activities $ 15,842 $ 55,883 $ 1,209 $ (266 ) $ 72,668 Cash flows from investing activities: Purchases of capital assets (5,628 ) (4,043 ) (518 ) — (10,189 ) Payments for acquisitions, net of cash acquired — (6,667 ) — — (6,667 ) Other (97 ) (5,698 ) 1,643 — (4,152 ) Net cash (used) provided by investing activities (5,725 ) (16,408 ) 1,125 — (21,008 ) Cash flows from financing activities: Net payments on short-term borrowings (18,000 ) — — — (18,000 ) Payments on long-term debt, including costs of debt reacquisition (263 ) — (5 ) — (268 ) Payments for debt issue costs (41 ) — — — (41 ) Proceeds from issuing shares under employee plans 2,585 — — — 2,585 Employee taxes paid for shares withheld (851 ) — — — (851 ) Payments for common shares repurchased (15,004 ) — — — (15,004 ) Cash dividends paid to shareholders (14,740 ) — — — (14,740 ) Advances from (to) consolidated subsidiaries 41,484 (39,552 ) (1,932 ) — — Other — (376 ) — — (376 ) Net cash used by financing activities (4,830 ) (39,928 ) (1,937 ) — (46,695 ) Effect of exchange rate change on cash — — 3,618 — 3,618 Net change in cash and cash equivalents 5,287 (453 ) 4,015 (266 ) 8,583 Cash and cash equivalents, beginning of year 5,187 940 56,422 (122 ) 62,427 Cash and cash equivalents, end of period $ 10,474 $ 487 $ 60,437 $ (388 ) $ 71,010 Deluxe Corporation Condensed Consolidating Statement of Cash Flows (Unaudited) Quarter Ended March 31, 2015 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total Net cash provided by operating activities $ 13,411 $ 57,848 $ 3,957 $ 3,314 $ 78,530 Cash flows from investing activities: Purchases of capital assets (417 ) (8,266 ) (829 ) — (9,512 ) Payments for acquisitions, net of cash acquired (26 ) (7,558 ) — — (7,584 ) Other (176 ) 636 3 — 463 Net cash used by investing activities (619 ) (15,188 ) (826 ) — (16,633 ) Cash flows from financing activities: Net proceeds from short-term borrowings 158,000 — — — 158,000 Payments on long-term debt, including costs of debt reacquisition (207,238 ) — (4 ) — (207,242 ) Payments for debt issue costs (97 ) — — — (97 ) Proceeds from issuing shares under employee plans 3,389 — — — 3,389 Excess tax benefit from share-based employee awards 1,260 — — — 1,260 Employee taxes paid for shares withheld (827 ) — — — (827 ) Cash dividends paid to shareholders (15,011 ) — — — (15,011 ) Advances from (to) consolidated subsidiaries 46,214 (44,993 ) (1,221 ) — — Other — — (150 ) — (150 ) Net cash used by financing activities (14,310 ) (44,993 ) (1,375 ) — (60,678 ) Effect of exchange rate change on cash — — (4,441 ) — (4,441 ) Net change in cash and cash equivalents (1,518 ) (2,333 ) (2,685 ) 3,314 (3,222 ) Cash and cash equivalents, beginning of year 8,335 4,342 52,193 (3,329 ) 61,541 Cash and cash equivalents, end of period $ 6,817 $ 2,009 $ 49,508 $ (15 ) $ 58,319

New accounting pronouncements (

New accounting pronouncements (Policies)	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New accounting pronouncements	New accounting pronouncements Recently adopted accounting pronouncements – In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . The standard requires that a performance target that affects vesting and that could be achieved after the requisite service period should be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. We adopted this standard on January 1, 2016. As our accounting treatment for these awards was in compliance with the new guidance, adoption of this standard had no impact on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs. The standard requires that debt issuance costs related to a recognized debt liability be presented in the consolidated balance sheets as a direct reduction from the carrying amount of the debt liability. We adopted this standard on January 1, 2016, applying it retrospectively. The consolidated balance sheet as of December 31, 2015 reflects the reclassification of debt issuance costs of $2,249 from other non-current assets to long-term debt. The amount of debt issuance costs included in long-term debt as of March 31, 2016 was $2,135 . In August 2015, the FASB issued ASU No. 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements – Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting . This standard adds SEC paragraphs pursuant to the SEC Staff announcement at the June 18, 2015 Emerging Issues Task Force (EITF) meeting about the presentation and subsequent measurement of debt issuance costs associated with line-of-credit arrangements. Under this guidance, the SEC Staff would not object to presenting such costs as an asset and subsequently amortizing the deferred costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings under the arrangement. As of December 31, 2015, debt issuance costs of $2,003 related to our line-of-credit arrangement were included within other current assets. We continue to include these costs within other current assets, amortizing them over the term of the arrangement. In April 2015, the FASB issued ASU No. 2015-05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement . The standard provides guidance to customers about whether a cloud computing arrangement includes a software license. If the arrangement does include a software license, the software license element of the arrangement should be accounted for in the same manner as the acquisition of other software licenses. We adopted this standard on January 1, 2016, applying it prospectively to all arrangements entered into or materially modified on or after January 1, 2016. Adoption of this standard did not have a significant impact on our results of operations or financial position. In May 2015, the FASB issued ASU No. 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or its Equivalent) . Under the standard, investments measured at net asset value (NAV) as a practical expedient for fair value are excluded from the fair value hierarchy. As such, they are not assigned a fair value measurement level in financial statement disclosures of fair value. This standard was effective for us on January 1, 2016. It impacts the disclosures included in our Annual Report on Form 10-K regarding the plan assets of our postretirement benefit plan. As such, we will reflect this new guidance in the disclosures included in our Form 10-K for the year ending December 31, 2016, applying the guidance retrospectively to all periods presented. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory . The standard requires that inventory within the scope of the guidance be measured at the lower of cost or net realizable value. Previously, inventory was measured at the lower of cost or market. We elected to early adopt this standard on January 1, 2016, applying it prospectively. Application of this standard did not have a significant impact on our results of operations or financial position. In September 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments. When recording the purchase price allocation for a business combination in the financial statements, an acquirer may record preliminary amounts when measurements are incomplete as of the end of a reporting period. When the required information is received to finalize the purchase price allocation, the preliminary amounts are adjusted. These adjustments are referred to as measurement-period adjustments. This standard eliminates the requirement to restate prior period financial statements for measurement-period adjustments. Instead, it requires that the cumulative impact of a measurement-period adjustment be recognized in the reporting period in which the adjustment is identified. We adopted this standard on January 1, 2016, applying it prospectively. Application of this standard did not have a significant impact on our results of operations or financial position. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting . The standard is intended to simplify various aspects of the accounting and presentation of share-based payments. We elected to early adopt this standard as of January 1, 2016. Adoption of this standard had the following impacts on our consolidated financial statements: • Consolidated statements of comprehensive income – The new standard requires that the tax effects of share-based compensation be recognized in the income tax provision. Previously, these amounts were recognized in additional paid-in capital. For the quarter ended March 31, 2016, net tax benefits of $491 related to share-based compensation awards were recognized as a reduction of income tax expense in the consolidated statement of comprehensive income. In addition, in calculating potential common shares used to determine diluted earnings per share, GAAP requires us to use the treasury stock method. The new standard requires that assumed proceeds under the treasury stock method be modified to exclude the amount of excess tax benefits that would have been recognized in additional paid-in capital. These changes were applied on a prospective basis and resulted in a $0.01 increase in basic and diluted earnings per share for the quarter ended March 31, 2016. In recording share-based compensation expense, the standard allows companies to make a policy election as to whether they will include an estimate of awards expected to be forfeited or whether they will account for forfeitures as they occur. We have elected to include an estimate of forfeitures in the computation of our share-based compensation expense. As this treatment is consistent with previous guidance, this election had no impact on our consolidated financial statements. • Consolidated statements of cash flows – The standard requires that excess tax benefits from share-based employee awards be reported as operating activities in the consolidated statements of cash flows. Previously, these cash flows were included in financing activities. We elected to apply this change on a prospective basis, resulting in an increase in net cash provided by operating activities and in net cash used by financing activities of $599 for the quarter ended March 31, 2016. The standard requires that employee taxes paid when an employer withholds shares for tax-withholding purposes be reported as financing activities in the consolidated statements of cash flows. Previously, these cash flows were included in operating activities. This change was required to be applied on a retrospective basis. As such, the consolidated statement of cash flows for the prior period was restated. This change resulted in an increase in net cash provided by operating activities and in net cash used by financing activities of $851 for the quarter ended March 31, 2016 and $827 for the quarter ended March 31, 2015. Accounting pronouncements not yet adopted – In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers . The standard provides revenue recognition guidance for any entity that enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets, unless those contracts are within the scope of other accounting standards. The standard also expands the required financial statement disclosures regarding revenue recognition. The new guidance is effective for us on January 1, 2018. In addition, in March 2016, the FASB issued ASU No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , and in April 2016, the FASB issued ASU No. 2016-10, Identifying Performance Obligations and Licensing . Both of these standards are intended to clarify aspects of ASU No. 2014-09 and are effective for us upon adoption of ASU No. 2014-09. We are currently assessing the impact of these standards on our consolidated financial statements, as well as the method of transition that we will use in adopting the new guidance. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities . The standard is intended to improve the recognition, measurement, presentation and disclosure of financial instruments. The guidance is effective for us on January 1, 2018. We do not expect the application of this standard to have a significant impact on our results of operations or financial position. In February 2016, the FASB issued ASU No. 2016-02, Leasing . The standard is intended to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities for virtually all leases and by requiring the disclosure of key information about leasing arrangements. The guidance is effective for us on January 1, 2019, and requires adoption using a modified retrospective approach. We are currently assessing the impact of this standard on our consolidated financial statements.

Long-term investments (Policies

Long-term investments (Policies)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Long-term investments	We have elected to account for a long-term investment in domestic mutual funds under the fair value option for financial assets and financial liabilities. The fair value option provides companies an irrevocable option to measure many financial assets and liabilities at fair value with changes in fair value recognized in earnings. The investment is included in long-term investments in the consolidated balance sheets. Long-term investments also include the cash surrender values of company-owned life insurance policies. Realized and unrealized gains and losses, as well as dividends earned by the mutual fund investment, are included in selling, general and administrative (SG&A) expense in the consolidated statements of comprehensive income. This investment corresponds to a liability under an officers’ deferred compensation plan that is not available to new participants and is fully funded by the investment in mutual funds. The liability under the plan equals the fair value of the investment in mutual funds. Thus, as the value of the investment changes, the value of the liability changes accordingly. As changes in the liability are reflected within SG&A expense in the consolidated statements of comprehensive income, the fair value option of accounting for the investment in mutual funds allows us to net changes in the investment and the related liability in the statements of comprehensive income. The cost of securities sold is determined using the average cost method.

Recurring fair value measuremen

Recurring fair value measurements (Policies)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair value level transfers	Our policy is to recognize transfers between fair value levels as of the end of the reporting period in which the transfer occurred.

Supplemental balance sheet in25

Supplemental balance sheet information (Tables)	3 Months Ended
	Mar. 31, 2016
Balance Sheet Related Disclosures [Abstract]
Inventories and supplies	Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) March 31, December 31, Raw materials $ 5,903 $ 5,719 Semi-finished goods 8,039 8,208 Finished goods 22,974 24,955 Supplies 3,037 3,074 Inventories and supplies $ 39,953 $ 41,956
Available-for-sale securities	Available-for-sale securities – Available-for-sale securities included within funds held for customers and other current assets were comprised of the following: March 31, 2016 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Canadian and provincial government securities $ 8,493 $ — $ (95 ) $ 8,398 Canadian guaranteed investment certificates 7,690 — — 7,690 Available-for-sale securities $ 16,183 $ — $ (95 ) $ 16,088 (1) Funds held for customers, as reported on the consolidated balance sheet as of March 31, 2016 , also included cash of $37,182 . December 31, 2015 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Canadian and provincial government securities $ 7,932 $ — $ (91 ) $ 7,841 Canadian guaranteed investment certificates 7,226 — — 7,226 Available-for-sale securities (funds held for customers) (1) 15,158 — (91 ) 15,067 Canadian money market fund (other current assets) 1,616 — — 1,616 Available-for-sale securities $ 16,774 $ — $ (91 ) $ 16,683 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2015 , also included cash of $38,276 .
Expected maturities of available-for-sale securities	Expected maturities of available-for-sale securities as of March 31, 2016 were as follows: (in thousands) Fair value Due in one year or less $ 8,580 Due in two to five years 4,199 Due in six to ten years 3,309 Available-for-sale securities $ 16,088
Assets held for sale	Net assets held for sale consisted of the following: (in thousands) March 31, December 31, Balance sheet caption Current assets $ 4 $ 3 Other current assets Intangibles 13,533 13,533 Assets held for sale Other non-current assets 435 436 Assets held for sale Accrued liabilities (118 ) (366 ) Accrued liabilities Deferred income tax liabilities (5,772 ) (5,777 ) Other non-current liabilities Net assets held for sale $ 8,082 $ 7,829
Intangibles	Intangibles – Intangibles were comprised of the following: March 31, 2016 December 31, 2015 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Indefinite-lived intangibles: Trade name $ 19,100 $ — $ 19,100 $ 19,100 $ — $ 19,100 Amortizable intangibles: Internal-use software 383,463 (319,260 ) 64,203 375,037 (310,665 ) 64,372 Customer lists/relationships 209,912 (62,567 ) 147,345 202,682 (54,990 ) 147,692 Trade names 64,881 (37,556 ) 27,325 64,881 (36,325 ) 28,556 Software to be sold 28,500 (4,557 ) 23,943 28,500 (3,765 ) 24,735 Other 2,859 (2,129 ) 730 2,858 (2,002 ) 856 Amortizable intangibles 689,615 (426,069 ) 263,546 673,958 (407,747 ) 266,211 Intangibles $ 708,715 $ (426,069 ) $ 282,646 $ 693,058 $ (407,747 ) $ 285,311
Estimated future amortization expense	Based on the intangibles in service as of March 31, 2016 , estimated future amortization expense is as follows: (in thousands) Estimated amortization expense Remainder of 2016 $ 49,804 2017 53,575 2018 39,544 2019 28,717 2020 23,978
Acquired intangibles	The following intangible assets were acquired during the quarter ended March 31, 2016 : (in thousands) Amount Weighted-average amortization period (in years) Internal-use software $ 8,150 3 Customer lists/relationships 6,997 7 Acquired intangibles $ 15,147 5
Goodwill	Goodwill – Changes in goodwill during the quarter ended March 31, 2016 were as follows: (in thousands) Small Business Services Financial Services Direct Checks Total Balance, December 31, 2015: Goodwill, gross $ 671,295 $ 176,614 $ 148,506 $ 996,415 Accumulated impairment charges (20,000 ) — — (20,000 ) Goodwill, net of accumulated impairment charges 651,295 176,614 148,506 976,415 Currency translation adjustment 93 — — 93 Balance, March 31, 2016: Goodwill, gross 671,388 176,614 148,506 996,508 Accumulated impairment charges (20,000 ) — — (20,000 ) Goodwill, net of accumulated impairment charges $ 651,388 $ 176,614 $ 148,506 $ 976,508
Other non-current assets	Other non-current assets – Other non-current assets were comprised of the following: (in thousands) March 31, December 31, Contract acquisition costs $ 60,952 $ 58,792 Loans and notes receivable from distributors 23,663 23,957 Postretirement benefit plan asset 17,236 16,250 Deferred advertising costs 6,962 7,500 Restricted cash 5,951 — Other 4,925 5,310 Other non-current assets $ 119,689 $ 111,809
Changes in contract acquisition costs	Changes in contract acquisition costs during the quarters ended March 31, 2016 and 2015 were as follows: Quarter Ended (in thousands) 2016 2015 Balance, beginning of year $ 58,792 $ 74,101 Additions (1) 6,792 1,907 Amortization (4,607 ) (4,831 ) Other (25 ) (2,259 ) Balance, end of period $ 60,952 $ 68,918 (1) Contract acquisition costs are accrued upon contract execution. Cash payments made for contract acquisition costs were $9,259 for the quarter ended March 31, 2016 and $2,947 for the quarter ended March 31, 2015 .
Accrued liabilities	Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) March 31, December 31, Funds held for customers $ 52,120 $ 52,366 Deferred revenue 41,458 48,119 Income taxes 26,212 6,573 Customer rebates 16,017 18,900 Employee profit sharing/cash bonus 11,475 40,683 Contract acquisition costs due within one year 8,096 9,045 Restructuring due within one year (Note 9) 2,764 3,864 Other 52,676 48,873 Accrued liabilities $ 210,818 $ 228,423

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings per share	The following table reflects the calculation of basic and diluted earnings per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted earnings per share because their effect would have been antidilutive. Quarter Ended (dollars and shares in thousands, except per share amounts) 2016 2015 Earnings per share – basic: Net income $ 58,102 $ 45,940 Income allocated to participating securities (461 ) (293 ) Income available to common shareholders $ 57,641 $ 45,647 Weighted-average shares outstanding 48,780 49,699 Earnings per share – basic $ 1.18 $ 0.92 Earnings per share – diluted: Net income $ 58,102 $ 45,940 Income allocated to participating securities (459 ) (291 ) Re-measurement of share-based awards classified as liabilities 205 179 Income available to common shareholders $ 57,848 $ 45,828 Weighted-average shares outstanding 48,780 49,699 Dilutive impact of potential common shares 395 408 Weighted-average shares and potential common shares outstanding 49,175 50,107 Earnings per share – diluted $ 1.18 $ 0.91 Antidilutive options excluded from calculation 693 265

Other comprehensive income (Tab

Other comprehensive income (Tables)	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Reclassification adjustments	Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net income was as follows: Accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affected line item in consolidated statements of comprehensive income Quarter Ended (in thousands) 2016 2015 Amortization of postretirement benefit plan items: Prior service credit $ 355 $ 355 (1) Net actuarial loss (949 ) (780 ) (1) Total amortization (594 ) (425 ) (1) Tax benefit 181 114 (1) Total reclassifications, net of tax $ (413 ) $ (311 ) (1) Amortization of postretirement benefit plan items is included in the computation of net periodic benefit income. Additional details can be found in Note 10.
Accumulated other comprehensive loss	Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the quarter ended March 31, 2016 were as follows: (in thousands) Postretirement benefit plans, net of tax Net unrealized loss on marketable securities, net of tax Currency translation adjustment Accumulated other comprehensive loss Balance, December 31, 2015 $ (38,822 ) $ (114 ) $ (16,267 ) $ (55,203 ) Other comprehensive income before reclassifications — 1 4,676 4,677 Amounts reclassified from accumulated other comprehensive loss 413 — — 413 Net current-period other comprehensive income 413 1 4,676 5,090 Balance, March 31, 2016 $ (38,409 ) $ (113 ) $ (11,591 ) $ (50,113 )

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Allocation of the aggregate purchase price for acquisitions completed during the current period	The following illustrates the preliminary allocation as of March 31, 2016 of the aggregate purchase price for the above acquisitions to the assets acquired: (in thousands) 2016 acquisitions Customer list intangible assets $ 6,997 Liabilities for holdback payments (1,194 ) Non-cash consideration (1) (277 ) Net cash paid for 2016 acquisitions 5,526 Holdback payments for prior year acquisitions 1,141 Payments for acquisitions, net of cash acquired $ 6,667 (1) Consists of pre-acquisition amounts owed to us by certain of the acquired businesses.

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Recurring fair value measurements	Information regarding recurring fair value measurements completed during each period was as follows: Fair value measurements using Fair value as of March 31, 2016 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Available-for-sale marketable securities (funds held for customers) $ 16,088 — $ — $ 16,088 $ — Long-term investment in mutual funds 1,647 1,647 — — Derivative liabilities (714 ) — (714 ) — Accrued contingent consideration (5,669 ) — — (5,669 ) Fair value measurements using Fair value as of December 31, 2015 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Available-for-sale marketable securities (funds held for customers) $ 15,067 $ — $ 15,067 $ — Available-for-sale marketable securities (other current assets) 1,616 — 1,616 — Long-term investment in mutual funds 2,091 2,091 — — Derivative liabilities (4,842 ) — (4,842 ) — Accrued contingent consideration (5,861 ) — — (5,861 )
Changes in accrued contingent consideration	Changes in accrued contingent consideration during the quarter ended March 31, 2016 were as follows: (in thousands) Quarter Ended March 31, 2016 Balance, December 31, 2015 $ 5,861 Change in fair value 184 Payments (376 ) Balance, March 31, 2016 $ 5,669
Estimated fair value of other financial instruments	The estimated fair values of these financial instruments were as follows: Fair value measurements using March 31, 2016 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) Carrying value Fair value (Level 1) (Level 2) (Level 3) Cash $ 71,010 $ 71,010 $ 71,010 $ — $ — Cash (funds held for customers) 37,182 37,182 37,182 — — Loans and notes receivable from distributors 25,756 23,057 — — 23,057 Short-term borrowings 416,000 416,000 416,000 — — Long-term debt (1) 197,151 210,756 — 210,756 — (1) Amounts exclude capital lease obligations. Fair value measurements using December 31, 2015 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) Carrying value Fair value (Level 1) (Level 2) (Level 3) Cash $ 62,427 $ 62,427 $ 62,427 $ — $ — Cash (funds held for customers) 38,276 38,276 38,276 — — Loans and notes receivable from distributors 25,745 23,383 — — 23,383 Short-term borrowings 434,000 434,000 434,000 — — Long-term debt (1) 192,909 207,000 — 207,000 — (1) Amounts exclude capital lease obligations.

Restructuring charges (Tables)

Restructuring charges (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Components of net restructuring charges	Net restructuring charges for each period consisted of the following components: Quarter Ended (in thousands, except number of employees) 2016 2015 Severance accruals $ 891 $ 743 Severance reversals (372 ) (524 ) Operating lease obligations 59 — Net restructuring accruals 578 219 Other costs 290 45 Net restructuring charges $ 868 $ 264 Number of employees included in severance accruals 25 40 The net restructuring charges are reflected in the consolidated statements of comprehensive income as follows: Quarter Ended (in thousands) 2016 2015 Total cost of revenue $ (11 ) $ (3 ) Operating expenses 879 267 Net restructuring charges $ 868 $ 264
Restructuring accruals, initiatives summarized by year	Accruals for our restructuring initiatives, summarized by year, were as follows: (in thousands) 2014 initiatives 2015 initiatives 2016 initiatives Total Balance, December 31, 2015 $ 176 $ 3,688 $ — $ 3,864 Restructuring charges — 5 945 950 Restructuring reversals (111 ) (261 ) — (372 ) Payments (58 ) (1,494 ) (126 ) (1,678 ) Balance, March 31, 2016 $ 7 $ 1,938 $ 819 $ 2,764 Cumulative amounts: Restructuring charges $ 8,242 $ 6,132 $ 945 $ 15,319 Restructuring reversals (1,444 ) (719 ) — (2,163 ) Payments (6,791 ) (3,475 ) (126 ) (10,392 ) Balance, March 31, 2016 $ 7 $ 1,938 $ 819 $ 2,764
Restructuring accruals, by segment	The components of our restructuring accruals, by segment, were as follows: Employee severance benefits Operating lease obligations (in thousands) Small Business Services Financial Services Direct Checks Corporate Small Business Services Financial Services Total Balance, December 31, 2015 $ 1,023 $ 884 $ — $ 1,859 $ 56 $ 42 $ 3,864 Restructuring charges 481 56 — 354 59 — 950 Restructuring reversals (80 ) (37 ) — (255 ) — — (372 ) Payments (641 ) (305 ) — (682 ) (34 ) (16 ) (1,678 ) Balance, March 31, 2016 $ 783 $ 598 $ — $ 1,276 $ 81 $ 26 $ 2,764 Cumulative amounts (1) : Restructuring charges $ 6,206 $ 4,315 $ 36 $ 4,365 $ 344 $ 53 $ 15,319 Restructuring reversals (1,280 ) (348 ) (2 ) (533 ) — — (2,163 ) Inter-segment transfer 41 (14 ) — (27 ) — — — Payments (4,184 ) (3,355 ) (34 ) (2,529 ) (263 ) (27 ) (10,392 ) Balance, March 31, 2016 $ 783 $ 598 $ — $ 1,276 $ 81 $ 26 $ 2,764 (1) Includes accruals related to our cost reduction initiatives for 2014 through 2016.

Postretirement benefits (Tables

Postretirement benefits (Tables)	3 Months Ended
	Mar. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Components of net periodic benefit income	Postretirement benefit income for each period consisted of the following components: Quarter Ended (in thousands) 2016 2015 Interest cost $ 780 $ 859 Expected return on plan assets (1,834 ) (1,958 ) Amortization of prior service credit (355 ) (355 ) Amortization of net actuarial losses 949 780 Net periodic benefit income $ (460 ) $ (674 )

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt outstanding	Debt outstanding was comprised of the following: (in thousands) March 31, December 31, 6.0% senior notes due November 15, 2020, principal amount $ 200,000 $ 200,000 Less unamortized debt issuance costs (2,135 ) (2,249 ) Cumulative change in fair value of hedged debt (Note 7) (714 ) (4,842 ) 6.0% senior notes, carrying value 197,151 192,909 Long-term portion of capital lease obligations 876 1,064 Long-term portion of debt 198,027 193,973 Amount drawn on credit facility 416,000 434,000 Capital lease obligations due within one year 1,040 1,045 Total debt $ 615,067 $ 629,018
Short-term borrowings, daily average amounts outstanding	Daily average amounts outstanding under our short-term borrowing arrangements were as follows: (in thousands) Quarter Ended Year Ended December 31, 2015 Credit facility: Daily average amount outstanding $ 431,264 $ 270,063 Weighted-average interest rate 1.81 % 1.66 % Short-term bank loan: Daily average amount outstanding $ — $ 47,178 Weighted-average interest rate — 1.59 %
Credit facility, amount available for borrowing	As of March 31, 2016 , amounts were available for borrowing under our credit facility as follows: (in thousands) Total available Credit facility commitment $ 525,000 Amount drawn on credit facility (416,000 ) Outstanding letters of credit (1) (12,737 ) Net available for borrowing as of March 31, 2016 $ 96,263 (1) We use standby letters of credit to collateralize certain obligations related primarily to our self-insured workers’ compensation claims, as well as claims for environmental matters, as required by certain states. These letters of credit reduce the amount available for borrowing under our credit facility.

Business segment information (T

Business segment information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Business segment information	The following is our segment information as of and for the quarters ended March 31, 2016 and 2015 : Reportable Business Segments (in thousands) Small Business Services Financial Services Direct Checks Corporate Consolidated Total revenue from external 2016 $ 290,271 $ 127,248 $ 41,779 $ — $ 459,298 customers: 2015 276,966 111,540 45,111 — 433,617 Operating income: 2016 51,151 26,725 14,767 — 92,643 2015 49,448 20,410 15,433 — 85,291 Depreciation and amortization 2016 12,071 8,938 870 — 21,879 expense: 2015 10,209 5,990 1,484 — 17,683 Total assets: 2016 1,000,452 418,437 160,984 252,884 1,832,757 2015 953,165 277,994 163,301 268,587 1,663,047 Capital asset purchases: 2016 — — — 10,189 10,189 2015 — — — 9,512 9,512

Supplemental guarantor financ34

Supplemental guarantor financial information (Tables)	3 Months Ended
	Mar. 31, 2016
Supplemental guarantor financial information [Abstract]
Condensed Consolidating Balance Sheets	Deluxe Corporation Condensed Consolidating Balance Sheet (Unaudited) March 31, 2016 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total ASSETS Current assets: Cash and cash equivalents $ 10,474 $ 487 $ 60,437 $ (388 ) $ 71,010 Trade accounts receivable, net — 98,149 7,770 — 105,919 Inventories and supplies — 37,662 2,291 — 39,953 Funds held for customers — 57 53,213 — 53,270 Other current assets 8,757 31,678 1,986 — 42,421 Total current assets 19,231 168,033 125,697 (388 ) 312,573 Deferred income taxes 13,978 — 1,316 (13,978 ) 1,316 Long-term investments 34,201 7,735 — — 41,936 Property, plant and equipment, net 9,729 69,719 4,673 — 84,121 Assets held for sale — — 13,968 — 13,968 Intangibles, net 12,897 266,315 3,434 — 282,646 Goodwill — 974,973 1,535 — 976,508 Investments in consolidated subsidiaries 1,314,583 88,123 — (1,402,706 ) — Intercompany receivable 60,681 — 452 (61,133 ) — Other non-current assets 3,946 115,641 102 — 119,689 Total assets $ 1,469,246 $ 1,690,539 $ 151,177 $ (1,478,205 ) $ 1,832,757 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 15,271 $ 61,857 $ 2,037 $ (388 ) $ 78,777 Accrued liabilities 39,477 116,144 55,197 — 210,818 Short-term borrowings 416,000 — — — 416,000 Long-term debt due within one year 1,020 — 20 — 1,040 Total current liabilities 471,768 178,001 57,254 (388 ) 706,635 Long-term debt 197,999 — 28 — 198,027 Deferred income taxes — 94,925 — (13,978 ) 80,947 Intercompany payable — 61,133 — (61,133 ) — Other non-current liabilities 15,613 41,897 5,772 — 63,282 Total shareholders' equity 783,866 — 1,314,583 — 88,123 — (1,402,706 ) 783,866 Total liabilities and shareholders' equity $ 1,469,246 $ 1,690,539 $ 151,177 $ (1,478,205 ) $ 1,832,757 Deluxe Corporation Condensed Consolidating Balance Sheet (Unaudited) December 31, 2015 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total ASSETS Current assets: Cash and cash equivalents $ 5,187 $ 940 $ 56,422 $ (122 ) $ 62,427 Trade accounts receivable, net — 115,951 7,703 — 123,654 Inventories and supplies — 39,758 2,198 — 41,956 Funds held for customers — — 53,343 — 53,343 Other current assets 9,233 32,765 2,610 — 44,608 Total current assets 14,420 189,414 122,276 (122 ) 325,988 Deferred income taxes 13,498 — 1,238 (13,498 ) 1,238 Long-term investments 34,304 7,387 — — 41,691 Property, plant and equipment, net 10,111 71,017 4,604 — 85,732 Assets held for sale — — 13,969 — 13,969 Intangibles, net 9,066 273,051 3,194 — 285,311 Goodwill — 974,973 1,442 — 976,415 Investments in consolidated subsidiaries 1,248,549 81,099 — (1,329,648 ) — Intercompany receivable 99,506 — — (99,506 ) — Other non-current assets 3,858 107,767 184 — 111,809 Total assets $ 1,433,312 $ 1,704,708 $ 146,907 $ (1,442,774 ) $ 1,842,153 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 15,625 $ 69,809 $ 2,263 $ (122 ) $ 87,575 Accrued liabilities 23,567 148,279 56,577 — 228,423 Short-term borrowings 434,000 — — — 434,000 Long-term debt due within one year 1,026 — 19 — 1,045 Total current liabilities 474,218 218,088 58,859 (122 ) 751,043 Long-term debt 193,942 — 31 — 193,973 Deferred income taxes — 94,574 — (13,498 ) 81,076 Intercompany payable — 98,365 1,141 (99,506 ) — Other non-current liabilities 20,083 45,132 5,777 — 70,992 Total shareholders' equity 745,069 1,248,549 81,099 (1,329,648 ) 745,069 Total liabilities and shareholders' equity $ 1,433,312 $ 1,704,708 $ 146,907 $ (1,442,774 ) $ 1,842,153
Condensed Consolidating Statements of Comprehensive Income	Deluxe Corporation Condensed Consolidating Statement of Comprehensive Income (Unaudited) Quarter Ended March 31, 2016 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total Product revenue $ — $ 352,673 $ 13,512 $ — $ 366,185 Service revenue 33,818 88,117 6,113 (34,935 ) 93,113 Total revenue 33,818 440,790 19,625 (34,935 ) 459,298 Cost of products — (124,422 ) (6,172 ) — (130,594 ) Cost of services (38,028 ) (33,573 ) (1,710 ) 39,600 (33,711 ) Total cost of revenue (38,028 ) (157,995 ) (7,882 ) 39,600 (164,305 ) Gross profit (4,210 ) 282,795 11,743 4,665 294,993 Operating expenses — (189,359 ) (8,326 ) (4,665 ) (202,350 ) Operating (loss) income (4,210 ) 93,436 3,417 — 92,643 Interest expense (4,984 ) (2,770 ) (1 ) 2,512 (5,243 ) Other income 2,628 325 (291 ) (2,512 ) 150 (Loss) income before income taxes (6,566 ) 90,991 3,125 — 87,550 Income tax benefit (provision) 3,310 (31,981 ) (777 ) — (29,448 ) (Loss) income before equity in earnings of consolidated subsidiaries (3,256 ) 59,010 2,348 — 58,102 Equity in earnings of consolidated subsidiaries 61,358 2,348 — (63,706 ) — Net income $ 58,102 $ 61,358 $ 2,348 $ (63,706 ) $ 58,102 Comprehensive income $ 63,192 $ 66,395 $ 7,026 $ (73,421 ) $ 63,192 Deluxe Corporation Condensed Consolidating Statement of Comprehensive Income (Unaudited) Quarter Ended March 31, 2015 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total Product revenue $ — $ 332,738 $ 22,275 $ — $ 355,013 Service revenue 26,685 73,240 6,598 (27,919 ) 78,604 Total revenue 26,685 405,978 28,873 (27,919 ) 433,617 Cost of products — (112,252 ) (11,487 ) — (123,739 ) Cost of services (30,283 ) (28,580 ) (2,090 ) 32,011 (28,942 ) Total cost of revenue (30,283 ) (140,832 ) (13,577 ) 32,011 (152,681 ) Gross profit (3,598 ) 265,146 15,296 4,092 280,936 Operating expenses — (180,758 ) (10,795 ) (4,092 ) (195,645 ) Operating (loss) income (3,598 ) 84,388 4,501 — 85,291 Loss on early debt extinguishment (8,917 ) — — — (8,917 ) Interest expense (6,497 ) (1,370 ) — 1,352 (6,515 ) Other income 1,375 138 269 (1,352 ) 430 (Loss) income before income taxes (17,637 ) 83,156 4,770 — 70,289 Income tax benefit (provision) 6,501 (29,441 ) (1,409 ) — (24,349 ) (Loss) income before equity in earnings of consolidated subsidiaries (11,136 ) 53,715 3,361 — 45,940 Equity in earnings of consolidated subsidiaries 57,076 3,361 — (60,437 ) — Net income $ 45,940 $ 57,076 $ 3,361 $ (60,437 ) $ 45,940 Comprehensive income $ 40,183 $ 51,277 $ (2,707 ) $ (48,570 ) $ 40,183
Condensed Consolidating Statements of Cash Flows	Deluxe Corporation Condensed Consolidating Statement of Cash Flows (Unaudited) Quarter Ended March 31, 2016 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total Net cash provided by operating activities $ 15,842 $ 55,883 $ 1,209 $ (266 ) $ 72,668 Cash flows from investing activities: Purchases of capital assets (5,628 ) (4,043 ) (518 ) — (10,189 ) Payments for acquisitions, net of cash acquired — (6,667 ) — — (6,667 ) Other (97 ) (5,698 ) 1,643 — (4,152 ) Net cash (used) provided by investing activities (5,725 ) (16,408 ) 1,125 — (21,008 ) Cash flows from financing activities: Net payments on short-term borrowings (18,000 ) — — — (18,000 ) Payments on long-term debt, including costs of debt reacquisition (263 ) — (5 ) — (268 ) Payments for debt issue costs (41 ) — — — (41 ) Proceeds from issuing shares under employee plans 2,585 — — — 2,585 Employee taxes paid for shares withheld (851 ) — — — (851 ) Payments for common shares repurchased (15,004 ) — — — (15,004 ) Cash dividends paid to shareholders (14,740 ) — — — (14,740 ) Advances from (to) consolidated subsidiaries 41,484 (39,552 ) (1,932 ) — — Other — (376 ) — — (376 ) Net cash used by financing activities (4,830 ) (39,928 ) (1,937 ) — (46,695 ) Effect of exchange rate change on cash — — 3,618 — 3,618 Net change in cash and cash equivalents 5,287 (453 ) 4,015 (266 ) 8,583 Cash and cash equivalents, beginning of year 5,187 940 56,422 (122 ) 62,427 Cash and cash equivalents, end of period $ 10,474 $ 487 $ 60,437 $ (388 ) $ 71,010 Deluxe Corporation Condensed Consolidating Statement of Cash Flows (Unaudited) Quarter Ended March 31, 2015 (in thousands) Deluxe Corporation Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Total Net cash provided by operating activities $ 13,411 $ 57,848 $ 3,957 $ 3,314 $ 78,530 Cash flows from investing activities: Purchases of capital assets (417 ) (8,266 ) (829 ) — (9,512 ) Payments for acquisitions, net of cash acquired (26 ) (7,558 ) — — (7,584 ) Other (176 ) 636 3 — 463 Net cash used by investing activities (619 ) (15,188 ) (826 ) — (16,633 ) Cash flows from financing activities: Net proceeds from short-term borrowings 158,000 — — — 158,000 Payments on long-term debt, including costs of debt reacquisition (207,238 ) — (4 ) — (207,242 ) Payments for debt issue costs (97 ) — — — (97 ) Proceeds from issuing shares under employee plans 3,389 — — — 3,389 Excess tax benefit from share-based employee awards 1,260 — — — 1,260 Employee taxes paid for shares withheld (827 ) — — — (827 ) Cash dividends paid to shareholders (15,011 ) — — — (15,011 ) Advances from (to) consolidated subsidiaries 46,214 (44,993 ) (1,221 ) — — Other — — (150 ) — (150 ) Net cash used by financing activities (14,310 ) (44,993 ) (1,375 ) — (60,678 ) Effect of exchange rate change on cash — — (4,441 ) — (4,441 ) Net change in cash and cash equivalents (1,518 ) (2,333 ) (2,685 ) 3,314 (3,222 ) Cash and cash equivalents, beginning of year 8,335 4,342 52,193 (3,329 ) 61,541 Cash and cash equivalents, end of period $ 6,817 $ 2,009 $ 49,508 $ (15 ) $ 58,319

New accounting pronouncements35

New accounting pronouncements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jan. 01, 2016	Dec. 31, 2015
Senior notes due 2020 [Member]
New accounting pronouncements [Line Items]
Debt issuance costs, long-term	$ 2,135			$ 2,249
Credit facility [Member]
New accounting pronouncements [Line Items]
Debt issuance costs, short-term				$ 2,003
Accounting Standards Update No. 2015-03 [Member] | Senior notes due 2020 [Member]
New accounting pronouncements [Line Items]
Debt issuance costs, long-term	2,135		$ 2,249
Accounting Standards Update No. 2016-09 [Member]
New accounting pronouncements [Line Items]
New accounting pronouncement, effect of change on net income	$ 491
New accounting pronouncement, effect of change on basic earnings per share	$ 0.01
New accounting pronouncement, effect of change on diluted earnings per share	$ 0.01
New accounting pronouncement, effect on net cash provided by operating activities, excess tax benefits	$ 599
New accounting pronouncement, effect on net cash used by financing activities, excess tax benefits	599
New accounting pronouncement, effect on net cash provided by operating activities. shares withheld	851	$ 827
New accounting pronouncement effect on net cash used by financing activities, shares withheld	$ 851	$ 827

Supplemental balance sheet in36

Supplemental balance sheet information (inventories and supplies) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventories and supplies
Raw materials	$ 5,903	$ 5,719
Semi-finished goods	8,039	8,208
Finished goods	22,974	24,955
Supplies	3,037	3,074
Inventories and supplies	$ 39,953	$ 41,956

Supplemental balance sheet in37

Supplemental balance sheet information (available-for-sale securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2016		Dec. 31, 2015
Available-for-sale securities [Line Items]
Cost			$ 16,774
Gross unrealized gains			0
Gross unrealized losses			(91)
Fair value	$ 16,088		16,683
Expected maturities of available-for-sale securities
Due in one year or less	8,580
Due in two to five years	4,199
Due in six to ten years	3,309
Fair value	16,088		16,683
Funds held for customers [Member]
Available-for-sale securities [Line Items]
Cost	16,183	[1]	15,158	[2]
Gross unrealized gains	0	[1]	0	[2]
Gross unrealized losses	(95)	[1]	(91)	[2]
Fair value	16,088	[1]	15,067	[2]
Cash	37,182		38,276
Expected maturities of available-for-sale securities
Fair value	16,088	[1]	15,067	[2]
Funds held for customers [Member] | Canadian and provincial government securities [Member]
Available-for-sale securities [Line Items]
Cost	8,493	[1]	7,932
Gross unrealized gains	0	[1]	0
Gross unrealized losses	(95)	[1]	(91)
Fair value	8,398	[1]	7,841
Expected maturities of available-for-sale securities
Fair value	8,398	[1]	7,841
Funds held for customers [Member] | Canadian guaranteed investment certificates [Member]
Available-for-sale securities [Line Items]
Cost	7,690	[1]	7,226
Gross unrealized gains	0	[1]	0
Gross unrealized losses	0	[1]	0
Fair value	7,690	[1]	7,226
Expected maturities of available-for-sale securities
Fair value	$ 7,690	[1]	7,226
Other current assets [Member] | Money market securities [Member] | Canadian [Member]
Available-for-sale securities [Line Items]
Cost			1,616
Gross unrealized gains			0
Gross unrealized losses			0
Fair value			1,616
Expected maturities of available-for-sale securities
Fair value			$ 1,616
[1]	Funds held for customers, as reported on the consolidated balance sheet as of March 31, 2016, also included cash of $37,182.
[2]	Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2015, also included cash of $38,276.

Supplemental balance sheet in38

Supplemental balance sheet information (assets held for sale) (Details) - Assets held for sale [Member] - Small business distributors [Member] $ in Thousands	Mar. 31, 2016USD ($)business	Dec. 31, 2015USD ($)business
Assets held for sale [Line Items]
Number of businesses held for sale | business	1	1
Current assets	$ 4	$ 3
Intangibles	13,533	13,533
Other non-current assets	435	436
Accrued liabilities	(118)	(366)
Deferred income tax liabilities	(5,772)	(5,777)
Net assets held for sale	$ 8,082	$ 7,829

Supplemental balance sheet in39

Supplemental balance sheet information (intangibles) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Intangibles [Line Items]
Amortizable intangibles, gross carrying amount	$ 689,615		$ 673,958
Accumulated amortization	(426,069)		(407,747)
Amortizable intangibles, net carrying amount	263,546		266,211
Gross carrying amount, total	708,715		693,058
Net carrying amount, total	282,646		285,311
Amortization of intangibles	18,148	$ 13,750
Amount acquired	$ 15,147
Amount acquired, weighted-average amortization period (in years)	5 years
Estimated future amortization expense
Remainder of 2016	$ 49,804
2,017	53,575
2,018	39,544
2,019	28,717
2,020	23,978
Trade names [Member]
Intangibles [Line Items]
Indefinite-lived intangibles, carrying amount	19,100		19,100
Internal-use software [Member]
Intangibles [Line Items]
Amortizable intangibles, gross carrying amount	383,463		375,037
Accumulated amortization	(319,260)		(310,665)
Amortizable intangibles, net carrying amount	64,203		64,372
Amount acquired	$ 8,150
Amount acquired, weighted-average amortization period (in years)	3 years
Customer lists/relationships [Member]
Intangibles [Line Items]
Amortizable intangibles, gross carrying amount	$ 209,912		202,682
Accumulated amortization	(62,567)		(54,990)
Amortizable intangibles, net carrying amount	147,345		147,692
Amount acquired	$ 6,997
Amount acquired, weighted-average amortization period (in years)	7 years
Trade names [Member]
Intangibles [Line Items]
Amortizable intangibles, gross carrying amount	$ 64,881		64,881
Accumulated amortization	(37,556)		(36,325)
Amortizable intangibles, net carrying amount	27,325		28,556
Software to be sold [Member]
Intangibles [Line Items]
Amortizable intangibles, gross carrying amount	28,500		28,500
Accumulated amortization	(4,557)		(3,765)
Amortizable intangibles, net carrying amount	23,943		24,735
Other [Member]
Intangibles [Line Items]
Amortizable intangibles, gross carrying amount	2,859		2,858
Accumulated amortization	(2,129)		(2,002)
Amortizable intangibles, net carrying amount	$ 730		$ 856

Supplemental balance sheet in40

Supplemental balance sheet information (goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	$ 996,415
Accumulated impairment charges, beginning of year	(20,000)
Goodwill, net of accumulated impairment charges, beginning of year	976,415
Currency translation adjustment	93
Goodwill, gross, end of period	996,508
Accumulated impairment charges, end of period	(20,000)
Goodwill, net of accumulated impairment charges, end of period	976,508
Small Business Services [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	671,295
Accumulated impairment charges, beginning of year	(20,000)
Goodwill, net of accumulated impairment charges, beginning of year	651,295
Currency translation adjustment	93
Goodwill, gross, end of period	671,388
Accumulated impairment charges, end of period	(20,000)
Goodwill, net of accumulated impairment charges, end of period	651,388
Financial Services [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	176,614
Accumulated impairment charges, beginning of year	0
Goodwill, net of accumulated impairment charges, beginning of year	176,614
Currency translation adjustment	0
Goodwill, gross, end of period	176,614
Accumulated impairment charges, end of period	0
Goodwill, net of accumulated impairment charges, end of period	176,614
Direct Checks [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	148,506
Accumulated impairment charges, beginning of year	0
Goodwill, net of accumulated impairment charges, beginning of year	148,506
Currency translation adjustment	0
Goodwill, gross, end of period	148,506
Accumulated impairment charges, end of period	0
Goodwill, net of accumulated impairment charges, end of period	$ 148,506

Supplemental balance sheet in41

Supplemental balance sheet information (other) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Other non-current assets
Contract acquisition costs		$ 58,792	$ 74,101	$ 60,952	$ 58,792
Loans and notes receivable from distributors				23,663	23,957
Postretirement benefit plan asset				17,236	16,250
Deferred advertising costs				6,962	7,500
Restricted cash				5,951	0
Other				4,925	5,310
Other non-current assets				119,689	111,809
Contract acquisition costs [Roll Forward]
Balance, beginning of year		58,792	74,101
Additions	[1]	6,792	1,907
Amortization		(4,607)	(4,831)
Other		(25)	(2,259)
Balance, end of period		60,952	68,918
Contract acquisition payments		$ 9,259	$ 2,947
Accrued liabilities
Funds held for customers				52,120	52,366
Deferred revenue				41,458	48,119
Income taxes				26,212	6,573
Customer rebates				16,017	18,900
Employee profit sharing/cash bonus				11,475	40,683
Contract acquisition costs due within one year				8,096	9,045
Restructuring due within one year (Note 9)				2,764	3,864
Other				52,676	48,873
Accrued liabilities				$ 210,818	$ 228,423
[1]	Contract acquisition costs are accrued upon contract execution. Cash payments made for contract acquisition costs were $9,259 for the quarter ended March 31, 2016 and $2,947 for the quarter ended March 31, 2015.

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings per share - basic:
Net income	$ 58,102	$ 45,940
Income allocated to participating securities	(461)	(293)
Income available to common shareholders	$ 57,641	$ 45,647
Weighted-average shares outstanding	48,780	49,699
Earnings per share - basic	$ 1.18	$ 0.92
Earnings per share - diluted:
Net income	$ 58,102	$ 45,940
Income allocated to participating securities	(459)	(291)
Re-measurement of share-based awards classified as liabilities	205	179
Income available to common shareholders	$ 57,848	$ 45,828
Weighted-average shares outstanding	48,780	49,699
Dilutive impact of potential common shares	395	408
Weighted-average shares and potential common shares outstanding	49,175	50,107
Earnings per share - diluted	$ 1.18	$ 0.91
Antidilutive options excluded from calculation	693	265

Other comprehensive income (rec

Other comprehensive income (reclassification adjustments) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Reclassification adjustments [Line Items]
Total reclassifications, net of tax		$ 413
Amortization of postretirement benefit plan items [Member]
Reclassification adjustments [Line Items]
Total reclassifications, net of tax		413
Amounts reclassified from accumulated other comprehensive loss [Member] | Amortization of postretirement benefit plan items [Member]
Reclassification adjustments [Line Items]
Prior service credit	[1]	355	$ 355
Net actuarial loss	[1]	(949)	(780)
Total amortization	[1]	(594)	(425)
Tax benefit	[1]	181	114
Total reclassifications, net of tax		$ (413)	$ (311)
[1]	Amortization of postretirement benefit plan items is included in the computation of net periodic benefit income. Additional details can be found in Note 10.

Other comprehensive income (acc

Other comprehensive income (accumulated other comprehensive loss) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Accumulated other comprehensive loss [Line Items]
Accumulated other comprehensive loss, beginning of year	$ (55,203)
Other comprehensive loss before reclassifications	4,677
Amounts reclassified from accumulated other comprehensive loss	413
Net current-period other comprehensive income	5,090
Accumulated other comprehensive loss, end of period	(50,113)
Postretirement benefit plans, net of tax [Member]
Accumulated other comprehensive loss [Line Items]
Accumulated other comprehensive loss, beginning of year	(38,822)
Other comprehensive loss before reclassifications	0
Amounts reclassified from accumulated other comprehensive loss	413
Net current-period other comprehensive income	413
Accumulated other comprehensive loss, end of period	(38,409)
Net unrealized loss on marketable securities, net of tax [Member]
Accumulated other comprehensive loss [Line Items]
Accumulated other comprehensive loss, beginning of year	(114)
Other comprehensive loss before reclassifications	1
Amounts reclassified from accumulated other comprehensive loss	0
Net current-period other comprehensive income	1
Accumulated other comprehensive loss, end of period	(113)
Currency translation adjustment [Member]
Accumulated other comprehensive loss [Line Items]
Accumulated other comprehensive loss, beginning of year	(16,267)
Other comprehensive loss before reclassifications	4,676
Amounts reclassified from accumulated other comprehensive loss	0
Net current-period other comprehensive income	4,676
Accumulated other comprehensive loss, end of period	$ (11,591)

Acquisitions (Details)

Acquisitions (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2016USD ($)business	Mar. 31, 2015USD ($)business
Acquisitions [Line Items]
Intangibles acquired		$ 15,147
Payments for acquisitions, net of cash acquired		6,667	$ 7,584
Holdback payments for prior year acquisitions		1,141	$ 26
Customer lists/relationships [Member]
Acquisitions [Line Items]
Intangibles acquired		6,997
Internal-use software [Member]
Acquisitions [Line Items]
Intangibles acquired		$ 8,150
Small business distributors [Member]
Acquisitions [Line Items]
Number of businesses acquired | business		4	1
2016 acquisitions [Member]
Acquisitions [Line Items]
Liabilities for holdback payments		$ (1,194)
Non-cash consideration	[1]	(277)
Payments for acquisitions, net of cash acquired		5,526
2016 acquisitions [Member] | Customer lists/relationships [Member]
Acquisitions [Line Items]
Intangibles acquired		$ 6,997
2015 acquisitions [Member]
Acquisitions [Line Items]
Payments for acquisitions, net of cash acquired			$ 7,558
[1]	Consists of pre-acquisition amounts owed to us by certain of the acquired businesses.

Derivative financial instrume46

Derivative financial instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Senior notes due 2020 [Member]
Derivative financial instruments [Line Items]
Decrease in debt due to fair value adjustments	$ 714	$ 4,842
Fair value hedge related to long-term debt due in 2020 [Member]
Derivative financial instruments [Line Items]
Notional amount	200,000
Fair value of interest rate swaps	714	4,842
Fair value hedge related to long-term debt due in 2020 [Member] | Senior notes due 2020 [Member]
Derivative financial instruments [Line Items]
Decrease in debt due to fair value adjustments	$ 714	$ 4,842

Fair value measurements (acquis

Fair value measurements (acquisitions) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Acquisitions [Line Items]
Intangibles acquired	$ 15,147
Customer lists/relationships [Member]
Acquisitions [Line Items]
Intangibles acquired	6,997
Customer lists/relationships [Member] | 2016 acquisitions [Member]
Acquisitions [Line Items]
Intangibles acquired	6,997
Internal-use software [Member]
Acquisitions [Line Items]
Intangibles acquired	$ 8,150

Fair value measurements (recurr

Fair value measurements (recurring fair value measurements) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2016		Mar. 31, 2015	Dec. 31, 2015
Recurring fair value measurements [Line Items]
Net unrealized losses on investment in mutual funds	$ 377		$ 187
Available-for-sale marketable securities	16,088			$ 16,683
Long-term investment in mutual funds	1,647			$ 2,091
Verify Valid [Member]
Recurring fair value measurements [Line Items]
Contingent consideration, period				8 years
Liability for contingent consideration, maximum unlimited				There is no maximum amount of contingent payments specified in the agreement
Small business distributors [Member]
Recurring fair value measurements [Line Items]
Contingent consideration, period				3 years
Liability for contingent consideration, maximum amount				$ 925
Funds held for customers [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities	16,088	[1]		15,067	[2]
Funds held for customers [Member] | Guaranteed investment certificates [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities	$ 7,690	[1]		7,226
Funds held for customers [Member] | Guaranteed investment certificates [Member] | Canadian [Member]
Recurring fair value measurements [Line Items]
Maximum maturity period, debt securities	1 year
Other current assets [Member]
Recurring fair value measurements [Line Items]
Realized gain (loss) on available-for-sale securities	$ 0		$ 0
Recurring fair value measurements [Member]
Recurring fair value measurements [Line Items]
Long-term investment in mutual funds	1,647			2,091
Derivative liabilities	(714)			(4,842)
Accrued contingent consideration	(5,669)			(5,861)
Transfers between fair value levels	0
Recurring fair value measurements [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Recurring fair value measurements [Line Items]
Long-term investment in mutual funds	1,647			2,091
Derivative liabilities	0			0
Accrued contingent consideration	0			0
Recurring fair value measurements [Member] | Significant other observable inputs (Level 2) [Member]
Recurring fair value measurements [Line Items]
Long-term investment in mutual funds	0			0
Derivative liabilities	(714)			(4,842)
Accrued contingent consideration	0			0
Recurring fair value measurements [Member] | Significant unobservable inputs (Level 3) [Member]
Recurring fair value measurements [Line Items]
Long-term investment in mutual funds	0			0
Derivative liabilities	0			0
Accrued contingent consideration	(5,669)			(5,861)
Recurring fair value measurements [Member] | Funds held for customers [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities	16,088			15,067
Recurring fair value measurements [Member] | Funds held for customers [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities	0			0
Recurring fair value measurements [Member] | Funds held for customers [Member] | Significant other observable inputs (Level 2) [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities	16,088			15,067
Recurring fair value measurements [Member] | Funds held for customers [Member] | Significant unobservable inputs (Level 3) [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities	$ 0			0
Recurring fair value measurements [Member] | Other current assets [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities				1,616
Recurring fair value measurements [Member] | Other current assets [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities				0
Recurring fair value measurements [Member] | Other current assets [Member] | Significant other observable inputs (Level 2) [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities				1,616
Recurring fair value measurements [Member] | Other current assets [Member] | Significant unobservable inputs (Level 3) [Member]
Recurring fair value measurements [Line Items]
Available-for-sale marketable securities				$ 0
[1]	Funds held for customers, as reported on the consolidated balance sheet as of March 31, 2016, also included cash of $37,182.
[2]	Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2015, also included cash of $38,276.

Fair value measurements (change

Fair value measurements (changes in Level 3 recurring fair value measurement) (Details) - Accrued contingent consideration [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Change in accrued contingent consideration
Balance, beginning of year	$ 5,861
Change in fair value	184
Payments	(376)
Balance, end of period	$ 5,669

Fair value measurements (other

Fair value measurements (other financial instruments) (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Fair value measurements, other financial instruments [Line Items]
Short-term borrowings		$ 416,000	$ 434,000
Carrying value [Member]
Fair value measurements, other financial instruments [Line Items]
Loans and notes receivable from distributors		25,756	25,745
Short-term borrowings		416,000	434,000
Long-term debt	[1]	197,151	192,909
Fair value [Member]
Fair value measurements, other financial instruments [Line Items]
Loans and notes receivable from distributors		23,057	23,383
Short-term borrowings		416,000	434,000
Long-term debt	[1]	210,756	207,000
Fair value [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements, other financial instruments [Line Items]
Loans and notes receivable from distributors		0	0
Short-term borrowings		416,000	434,000
Long-term debt	[1]	0	0
Fair value [Member] | Significant other observable inputs (Level 2) [Member]
Fair value measurements, other financial instruments [Line Items]
Loans and notes receivable from distributors		0	0
Short-term borrowings		0	0
Long-term debt	[1]	210,756	207,000
Fair value [Member] | Significant unobservable inputs (Level 3) [Member]
Fair value measurements, other financial instruments [Line Items]
Loans and notes receivable from distributors		23,057	23,383
Short-term borrowings		0	0
Long-term debt	[1]	0	0
Cash [Member] | Carrying value [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		71,010	62,427
Cash [Member] | Fair value [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		71,010	62,427
Cash [Member] | Fair value [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		71,010	62,427
Cash [Member] | Fair value [Member] | Significant other observable inputs (Level 2) [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		0	0
Cash [Member] | Fair value [Member] | Significant unobservable inputs (Level 3) [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		0	0
Funds held for customers [Member] | Carrying value [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		37,182	38,276
Funds held for customers [Member] | Fair value [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		37,182	38,276
Funds held for customers [Member] | Fair value [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		37,182	38,276
Funds held for customers [Member] | Fair value [Member] | Significant other observable inputs (Level 2) [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		0	0
Funds held for customers [Member] | Fair value [Member] | Significant unobservable inputs (Level 3) [Member]
Fair value measurements, other financial instruments [Line Items]
Cash		$ 0	$ 0
[1]	Amounts exclude capital lease obligations.

Restructuring charges (Details)

Restructuring charges (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)Employees	Mar. 31, 2015USD ($)Employees	Dec. 31, 2015USD ($)
Net restructuring charges by component
Severance accruals	$ 891	$ 743
Severance reversals	(372)	(524)
Operating lease obligations	59	0
Net restructuring accruals	578	219
Other costs	290	45
Net restructuring charges	$ 868	$ 264
Number of employees in severance accruals | Employees	25	40
Total cost of revenue	$ (11)	$ (3)
Operating expenses	879	$ 267
Other restructuring charges disclosures
Restructuring accruals, total	$ 2,764		$ 3,864
Number of employees that have not started to receive severance benefits | Employees	10

Restructuring charges (restruct

Restructuring charges (restructuring accruals by year and by segment) (Details) - USD ($) $ in Thousands		3 Months Ended	15 Months Ended	27 Months Ended
		Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2016
Restructuring accruals [Line Items]
Balance, beginning of year		$ 3,864
Restructuring charges		950		$ 15,319	[1]
Restructuring reversals		(372)		(2,163)	[1]
Inter-segment transfer	[1]			0
Payments		(1,678)		(10,392)	[1]
Balance, end of period		2,764	$ 2,764	2,764
2014 initiatives [Member]
Restructuring accruals [Line Items]
Balance, beginning of year		176
Restructuring charges		0		8,242
Restructuring reversals		(111)		(1,444)
Payments		(58)		(6,791)
Balance, end of period		7	7	7
2015 initiatives [Member]
Restructuring accruals [Line Items]
Balance, beginning of year		3,688
Restructuring charges		5	6,132
Restructuring reversals		(261)	(719)
Payments		(1,494)	(3,475)
Balance, end of period		1,938	1,938	1,938
2016 initiatives [Member]
Restructuring accruals [Line Items]
Balance, beginning of year		0
Restructuring charges		945
Restructuring reversals		0
Payments		(126)
Balance, end of period		819	819	819
Employee severance benefits [Member] | Small Business Services [Member]
Restructuring accruals [Line Items]
Balance, beginning of year		1,023
Restructuring charges		481		6,206	[1]
Restructuring reversals		(80)		(1,280)	[1]
Inter-segment transfer	[1]			41
Payments		(641)		(4,184)	[1]
Balance, end of period		783	783	783
Employee severance benefits [Member] | Financial Services [Member]
Restructuring accruals [Line Items]
Balance, beginning of year		884
Restructuring charges		56		4,315	[1]
Restructuring reversals		(37)		(348)	[1]
Inter-segment transfer	[1]			(14)
Payments		(305)		(3,355)	[1]
Balance, end of period		598	598	598
Employee severance benefits [Member] | Direct Checks [Member]
Restructuring accruals [Line Items]
Balance, beginning of year		0
Restructuring charges		0		36	[1]
Restructuring reversals		0		(2)	[1]
Inter-segment transfer	[1]			0
Payments		0		(34)	[1]
Balance, end of period		0	0	0
Employee severance benefits [Member] | Corporate [Member]
Restructuring accruals [Line Items]
Balance, beginning of year		1,859
Restructuring charges		354		4,365	[1]
Restructuring reversals		(255)		(533)	[1]
Inter-segment transfer	[1]			(27)
Payments		(682)		(2,529)	[1]
Balance, end of period		1,276	1,276	1,276
Operating lease obligations [Member] | Small Business Services [Member]
Restructuring accruals [Line Items]
Balance, beginning of year		56
Restructuring charges		59		344	[1]
Restructuring reversals		0		0	[1]
Inter-segment transfer	[1]			0
Payments		(34)		(263)	[1]
Balance, end of period		81	81	81
Operating lease obligations [Member] | Direct Checks [Member]
Restructuring accruals [Line Items]
Balance, beginning of year		42
Restructuring charges		0		53	[1]
Restructuring reversals		0		0	[1]
Inter-segment transfer	[1]			0
Payments		(16)		(27)	[1]
Balance, end of period		$ 26	$ 26	$ 26
[1]	Includes accruals related to our cost reduction initiatives for 2014 through 2016.

Postretirement benefits (Detail

Postretirement benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net periodic benefit income
Interest cost	$ 780	$ 859
Expected return on plan assets	(1,834)	(1,958)
Amortization of prior service credit	(355)	(355)
Amortization of net actuarial losses	949	780
Net periodic benefit income	$ (460)	$ (674)

Debt (Details)

Debt (Details) $ in Thousands	1 Months Ended			3 Months Ended
	Mar. 31, 2015USD ($)	Nov. 30, 2012USD ($)	Mar. 31, 2011USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule of debt instruments [Line Items]
Long-term portion of debt				$ 198,027		$ 193,973
Short-term borrowings				416,000		434,000
Capital lease obligations due within one year				1,040		1,045
Total debt				$ 615,067		629,018
Ratio of EBITDA to interest expense				2
Ratio of total debt less unrestricted cash to EBITDA				2.75
Loss on early debt extinguishment				$ 0	$ (8,917)
Capital lease obligations				$ 1,916		2,109
Capital lease obligations, expiration date				Dec. 31, 2019
Senior notes due 2020 [Member]
Schedule of debt instruments [Line Items]
Principal amount issued		$ 200,000		$ 200,000		200,000
Unamortized debt issuance costs				(2,135)		(2,249)
Decrease in debt due to fair value adjustments				(714)		(4,842)
Long-term portion of debt				197,151		192,909
Debt issuance date		Nov. 27, 2012
Stated interest rate		6.00%
Debt maturity date		Nov. 15, 2020
Proceeds from offering, net of offering costs		$ 196,340
Fair value of notes outstanding				210,756
Senior notes due 2020 [Member] | First optional redemption period [Member]
Schedule of debt instruments [Line Items]
Redemption period, end date		Nov. 15, 2016
Redemption price, percentage		100.00%
Senior notes due 2020 [Member] | Second optional redemption period [Member]
Schedule of debt instruments [Line Items]
Redemption period, start date		Nov. 15, 2016
Senior notes due 2020 [Member] | Second optional redemption period [Member] | Minimum [Member]
Schedule of debt instruments [Line Items]
Redemption price, percentage		100.00%
Senior notes due 2020 [Member] | Second optional redemption period [Member] | Maximum [Member]
Schedule of debt instruments [Line Items]
Redemption price, percentage		103.00%
Senior notes due 2020 [Member] | Mandatory redemption [Member]
Schedule of debt instruments [Line Items]
Redemption price, percentage		101.00%
Senior notes due 2020 [Member] | Fair value hedge related to long-term debt due in 2020 [Member]
Schedule of debt instruments [Line Items]
Decrease in debt due to fair value adjustments				(714)		(4,842)
Senior notes due 2019 [Member]
Schedule of debt instruments [Line Items]
Principal amount issued			$ 200,000
Debt issuance date			Mar. 15, 2011
Stated interest rate			7.00%
Debt maturity date			Mar. 15, 2019
Proceeds from offering, net of offering costs			$ 196,195
Principal amount retired	$ 200,000
Loss on early debt extinguishment					8,917
Capital lease obligations [Member]
Schedule of debt instruments [Line Items]
Long-term portion of debt				876		1,064
Credit facility [Member]
Schedule of debt instruments [Line Items]
Short-term borrowings				$ 416,000		$ 434,000
Short-term bank loan [Member]
Schedule of debt instruments [Line Items]
Principal amount issued	$ 75,000				$ 75,000
Debt issuance date	Mar. 5, 2015
Proceeds from offering, net of offering costs	$ 74,880

Debt (short-term borrowings) (D

Debt (short-term borrowings) (Details) - USD ($) $ in Thousands		1 Months Ended		3 Months Ended	12 Months Ended
		Mar. 31, 2015	Mar. 31, 2011	Mar. 31, 2016	Dec. 31, 2015
Schedule of debt instruments [Line Items]
Short-term borrowings				$ 416,000	$ 434,000
Credit facility commitment				$ 525,000
Credit facility, date of expiration				Feb. 21, 2019
Credit facility, daily average amount outstanding				$ 431,264	$ 270,063
Credit facility, weighted-average interest rate				1.81%	1.66%
Credit facility, interest rate, amount outstanding				1.89%	1.89%
Outstanding letters of credit	[1]			$ (12,737)
Credit facility, net available for borrowing at end of period				$ 96,263
Minimum [Member]
Schedule of debt instruments [Line Items]
Credit facility, commitment fee				0.20%
Maximum [Member]
Schedule of debt instruments [Line Items]
Credit facility, commitment fee				0.40%
Short-term bank loan [Member]
Schedule of debt instruments [Line Items]
Debt issuance date		Mar. 5, 2015
Principal amount issued		$ 75,000
Proceeds from loan, net of offering costs		74,880
Short-term borrowings, daily average amount outstanding				$ 0	$ 47,178
Short-term borrowings, weighted-average interest rate				0.00%	1.59%
Senior notes due 2019 [Member]
Schedule of debt instruments [Line Items]
Debt issuance date			Mar. 15, 2011
Principal amount issued			$ 200,000
Proceeds from loan, net of offering costs			$ 196,195
Principal amount retired		$ 200,000
Stated interest rate			7.00%
Debt maturity date			Mar. 15, 2019
Credit facility [Member]
Schedule of debt instruments [Line Items]
Short-term borrowings				$ 416,000	$ 434,000
[1]	We use standby letters of credit to collateralize certain obligations related primarily to our self-insured workers’ compensation claims, as well as claims for environmental matters, as required by certain states. These letters of credit reduce the amount available for borrowing under our credit facility.

Other commitments and conting56

Other commitments and contingencies (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Sep. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Environmental matters [Line Items]
Accruals for environmental matters		$ 5,649		$ 5,952
Expense for environmental matters		171	$ 293
Self-insurance
Self-insurance liabilities		6,328		$ 6,457
Litigation
Damages sought	$ 43,000
Environmental insurance policy purchased during 2002 [Member] | Third-party claims [Member]
Environmental matters [Line Items]
Environmental insurance coverage		10,000
Environmental insurance policy for facilities purchased subsequent to 2002 [Member] | Environmental remediation costs [Member]
Environmental matters [Line Items]
Environmental insurance coverage		15,000
Environmental insurance policies in effect [Member]
Environmental matters [Line Items]
Accruals for environmental matters		$ 0

Shareholders' equity (Details)

Shareholders' equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	May. 04, 2016
Stockholders' Equity Note [Abstract]
Common shares authorized for repurchase	10,000
Common shares that remain available for repurchase	688
Common shares repurchased (in shares)	278
Payments for common shares repurchased	$ 15,004	$ 0
Subsequent Event [Member]
Subsequent event [Line Items]
Share repurchase program, authorized amount			$ 300,000

Business segment information (D

Business segment information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Business segment information [Line Items]
Number of reportable business segments	3
Total revenue from external customers:	$ 459,298	$ 433,617
Operating income	92,643	85,291
Depreciation and amortization expense:	21,879	17,683
Total assets	1,832,757	1,663,047	$ 1,842,153
Capital asset purchases:	10,189	9,512
Reportable Business Segments [Member] | Small Business Services [Member]
Business segment information [Line Items]
Total revenue from external customers:	290,271	276,966
Operating income	51,151	49,448
Depreciation and amortization expense:	12,071	10,209
Total assets	1,000,452	953,165
Capital asset purchases:	0	0
Reportable Business Segments [Member] | Small Business Services [Member] | Checks [Member] | Product concentration risk [Member]
Business segment information [Line Items]
Percentage of revenue			40.10%
Reportable Business Segments [Member] | Financial Services [Member]
Business segment information [Line Items]
Total revenue from external customers:	127,248	111,540
Operating income	26,725	20,410
Depreciation and amortization expense:	8,938	5,990
Total assets	418,437	277,994
Capital asset purchases:	0	0
Reportable Business Segments [Member] | Financial Services [Member] | Checks [Member] | Product concentration risk [Member]
Business segment information [Line Items]
Percentage of revenue			59.70%
Reportable Business Segments [Member] | Direct Checks [Member]
Business segment information [Line Items]
Total revenue from external customers:	41,779	45,111
Operating income	14,767	15,433
Depreciation and amortization expense:	870	1,484
Total assets	160,984	163,301
Capital asset purchases:	0	0
Reportable Business Segments [Member] | Direct Checks [Member] | Checks [Member] | Product concentration risk [Member]
Business segment information [Line Items]
Percentage of revenue			84.60%
Corporate [Member]
Business segment information [Line Items]
Total revenue from external customers:	0	0
Operating income	0	0
Depreciation and amortization expense:	0	0
Total assets	252,884	268,587
Capital asset purchases:	$ 10,189	$ 9,512

Supplemental guarantor financ59

Supplemental guarantor financial information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 71,010	$ 62,427	$ 58,319	$ 61,541
Trade accounts receivable, net	105,919	123,654
Inventories and supplies	39,953	41,956
Funds held for customers	53,270	53,343
Other current assets	42,421	44,608
Total current assets	312,573	325,988
Deferred income taxes	1,316	1,238
Long-term investments	41,936	41,691
Property, plant and equipment, net	84,121	85,732
Assets held for sale	13,968	13,969
Intangibles, net	282,646	285,311
Goodwill	976,508	976,415
Investments In consolidated subsidiaries	0	0
Intercompany receivable	0	0
Other non-current assets	119,689	111,809
Total assets	1,832,757	1,842,153	1,663,047
Current liabilities:
Accounts payable	78,777	87,575
Accrued liabilities	210,818	228,423
Short-term borrowings	416,000	434,000
Long-term debt due within one year	1,040	1,045
Total current liabilities	706,635	751,043
Long-term debt	198,027	193,973
Deferred income taxes	80,947	81,076
Intercompany payable	0	0
Other non-current liabilities	63,282	70,992
Total shareholders' equity	783,866	745,069
Total liabilities and shareholders' equity	1,832,757	1,842,153
Deluxe Corporation [Member]
Current assets:
Cash and cash equivalents	10,474	5,187	6,817	8,335
Trade accounts receivable, net	0	0
Inventories and supplies	0	0
Funds held for customers	0	0
Other current assets	8,757	9,233
Total current assets	19,231	14,420
Deferred income taxes	13,978	13,498
Long-term investments	34,201	34,304
Property, plant and equipment, net	9,729	10,111
Assets held for sale	0	0
Intangibles, net	12,897	9,066
Goodwill	0	0
Investments In consolidated subsidiaries	1,314,583	1,248,549
Intercompany receivable	60,681	99,506
Other non-current assets	3,946	3,858
Total assets	1,469,246	1,433,312
Current liabilities:
Accounts payable	15,271	15,625
Accrued liabilities	39,477	23,567
Short-term borrowings	416,000	434,000
Long-term debt due within one year	1,020	1,026
Total current liabilities	471,768	474,218
Long-term debt	197,999	193,942
Deferred income taxes	0	0
Intercompany payable	0	0
Other non-current liabilities	15,613	20,083
Total shareholders' equity	783,866	745,069
Total liabilities and shareholders' equity	1,469,246	1,433,312
Guarantor subsidiaries [Member]
Current assets:
Cash and cash equivalents	487	940	2,009	4,342
Trade accounts receivable, net	98,149	115,951
Inventories and supplies	37,662	39,758
Funds held for customers	57	0
Other current assets	31,678	32,765
Total current assets	168,033	189,414
Deferred income taxes	0	0
Long-term investments	7,735	7,387
Property, plant and equipment, net	69,719	71,017
Assets held for sale	0	0
Intangibles, net	266,315	273,051
Goodwill	974,973	974,973
Investments In consolidated subsidiaries	88,123	81,099
Intercompany receivable	0	0
Other non-current assets	115,641	107,767
Total assets	1,690,539	1,704,708
Current liabilities:
Accounts payable	61,857	69,809
Accrued liabilities	116,144	148,279
Short-term borrowings	0	0
Long-term debt due within one year	0	0
Total current liabilities	178,001	218,088
Long-term debt	0	0
Deferred income taxes	94,925	94,574
Intercompany payable	61,133	98,365
Other non-current liabilities	41,897	45,132
Total shareholders' equity	1,314,583	1,248,549
Total liabilities and shareholders' equity	1,690,539	1,704,708
Non-guarantor subsidiaries [Member]
Current assets:
Cash and cash equivalents	60,437	56,422	49,508	52,193
Trade accounts receivable, net	7,770	7,703
Inventories and supplies	2,291	2,198
Funds held for customers	53,213	53,343
Other current assets	1,986	2,610
Total current assets	125,697	122,276
Deferred income taxes	1,316	1,238
Long-term investments	0	0
Property, plant and equipment, net	4,673	4,604
Assets held for sale	13,968	13,969
Intangibles, net	3,434	3,194
Goodwill	1,535	1,442
Investments In consolidated subsidiaries	0	0
Intercompany receivable	452	0
Other non-current assets	102	184
Total assets	151,177	146,907
Current liabilities:
Accounts payable	2,037	2,263
Accrued liabilities	55,197	56,577
Short-term borrowings	0	0
Long-term debt due within one year	20	19
Total current liabilities	57,254	58,859
Long-term debt	28	31
Deferred income taxes	0	0
Intercompany payable	0	1,141
Other non-current liabilities	5,772	5,777
Total shareholders' equity	88,123	81,099
Total liabilities and shareholders' equity	151,177	146,907
Eliminations [Member]
Current assets:
Cash and cash equivalents	(388)	(122)	$ (15)	$ (3,329)
Trade accounts receivable, net	0	0
Inventories and supplies	0	0
Funds held for customers	0	0
Other current assets	0	0
Total current assets	(388)	(122)
Deferred income taxes	(13,978)	(13,498)
Long-term investments	0	0
Property, plant and equipment, net	0	0
Assets held for sale	0	0
Intangibles, net	0	0
Goodwill	0	0
Investments In consolidated subsidiaries	(1,402,706)	(1,329,648)
Intercompany receivable	(61,133)	(99,506)
Other non-current assets	0	0
Total assets	(1,478,205)	(1,442,774)
Current liabilities:
Accounts payable	(388)	(122)
Accrued liabilities	0	0
Short-term borrowings	0	0
Long-term debt due within one year	0	0
Total current liabilities	(388)	(122)
Long-term debt	0	0
Deferred income taxes	(13,978)	(13,498)
Intercompany payable	(61,133)	(99,506)
Other non-current liabilities	0	0
Total shareholders' equity	(1,402,706)	(1,329,648)
Total liabilities and shareholders' equity	$ (1,478,205)	$ (1,442,774)

Supplemental guarantor financ60

Supplemental guarantor financial information (Condensed Consolidating Statements of Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Consolidating Statements of Comprehensive Income [Abstract]
Product revenue	$ 366,185	$ 355,013
Service revenue	93,113	78,604
Total revenue	459,298	433,617
Cost of products	(130,594)	(123,739)
Cost of services	(33,711)	(28,942)
Total cost of revenue	(164,305)	(152,681)
Gross profit	294,993	280,936
Operating expenses	(202,350)	(195,645)
Operating income	92,643	85,291
Loss on early debt extinguishment	0	(8,917)
Interest expense	(5,243)	(6,515)
Other income	150	430
Income before income taxes	87,550	70,289
Income tax benefit (provision)	(29,448)	(24,349)
(Loss) income before equity in earnings of consolidated subsidiaries	58,102	45,940
Equity in earnings of consolidated subsidiaries	0	0
Net income	58,102	45,940
Comprehensive income	63,192	40,183
Deluxe Corporation [Member]
Condensed Consolidating Statements of Comprehensive Income [Abstract]
Product revenue	0	0
Service revenue	33,818	26,685
Total revenue	33,818	26,685
Cost of products	0	0
Cost of services	(38,028)	(30,283)
Total cost of revenue	(38,028)	(30,283)
Gross profit	(4,210)	(3,598)
Operating expenses	0	0
Operating income	(4,210)	(3,598)
Loss on early debt extinguishment		(8,917)
Interest expense	(4,984)	(6,497)
Other income	2,628	1,375
Income before income taxes	(6,566)	(17,637)
Income tax benefit (provision)	3,310	6,501
(Loss) income before equity in earnings of consolidated subsidiaries	(3,256)	(11,136)
Equity in earnings of consolidated subsidiaries	61,358	57,076
Net income	58,102	45,940
Comprehensive income	63,192	40,183
Guarantor subsidiaries [Member]
Condensed Consolidating Statements of Comprehensive Income [Abstract]
Product revenue	352,673	332,738
Service revenue	88,117	73,240
Total revenue	440,790	405,978
Cost of products	(124,422)	(112,252)
Cost of services	(33,573)	(28,580)
Total cost of revenue	(157,995)	(140,832)
Gross profit	282,795	265,146
Operating expenses	(189,359)	(180,758)
Operating income	93,436	84,388
Loss on early debt extinguishment		0
Interest expense	(2,770)	(1,370)
Other income	325	138
Income before income taxes	90,991	83,156
Income tax benefit (provision)	(31,981)	(29,441)
(Loss) income before equity in earnings of consolidated subsidiaries	59,010	53,715
Equity in earnings of consolidated subsidiaries	2,348	3,361
Net income	61,358	57,076
Comprehensive income	66,395	51,277
Non-guarantor subsidiaries [Member]
Condensed Consolidating Statements of Comprehensive Income [Abstract]
Product revenue	13,512	22,275
Service revenue	6,113	6,598
Total revenue	19,625	28,873
Cost of products	(6,172)	(11,487)
Cost of services	(1,710)	(2,090)
Total cost of revenue	(7,882)	(13,577)
Gross profit	11,743	15,296
Operating expenses	(8,326)	(10,795)
Operating income	3,417	4,501
Loss on early debt extinguishment		0
Interest expense	(1)	0
Other income	(291)	269
Income before income taxes	3,125	4,770
Income tax benefit (provision)	(777)	(1,409)
(Loss) income before equity in earnings of consolidated subsidiaries	2,348	3,361
Equity in earnings of consolidated subsidiaries	0	0
Net income	2,348	3,361
Comprehensive income	7,026	(2,707)
Eliminations [Member]
Condensed Consolidating Statements of Comprehensive Income [Abstract]
Product revenue	0	0
Service revenue	(34,935)	(27,919)
Total revenue	(34,935)	(27,919)
Cost of products	0	0
Cost of services	39,600	32,011
Total cost of revenue	39,600	32,011
Gross profit	4,665	4,092
Operating expenses	(4,665)	(4,092)
Operating income	0	0
Loss on early debt extinguishment		0
Interest expense	2,512	1,352
Other income	(2,512)	(1,352)
Income before income taxes	0	0
Income tax benefit (provision)	0	0
(Loss) income before equity in earnings of consolidated subsidiaries	0	0
Equity in earnings of consolidated subsidiaries	(63,706)	(60,437)
Net income	(63,706)	(60,437)
Comprehensive income	$ (73,421)	$ (48,570)

Supplemental guarantor financ61

Supplemental guarantor financial information (Condensed Consolidating Statements of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Consolidating Statements of Cash Flows [Abstract}
Net cash provided by operating activities	$ 72,668	$ 78,530
Cash flows from investing activities:
Purchases of capital assets	(10,189)	(9,512)
Payments for acquisitions, net of cash acquired	(6,667)	(7,584)
Other	(4,152)	463
Net cash used by investing activities	(21,008)	(16,633)
Cash flows from financing activities:
Net (payments) proceeds from short-term borrowings	(18,000)	158,000
Payments on long-term debt, including costs of debt reacquisition	(268)	(207,242)
Payments for debt issue costs	(41)	(97)
Proceeds from issuing shares under employee plans	2,585	3,389
Excess tax benefit from share-based employee awards	0	1,260
Employee taxes paid for shares withheld	(851)	(827)
Payments for common shares repurchased	(15,004)	0
Cash dividends paid to shareholders	(14,740)	(15,011)
Advances from (to) consolidated subsidiaries	0	0
Other	(376)	(150)
Net cash used by financing activities	(46,695)	(60,678)
Effect of exchange rate change on cash	3,618	(4,441)
Net change in cash and cash equivalents	8,583	(3,222)
Cash and cash equivalents, beginning of year	62,427	61,541
Cash and cash equivalents, end of period	71,010	58,319
Deluxe Corporation [Member]
Condensed Consolidating Statements of Cash Flows [Abstract}
Net cash provided by operating activities	15,842	13,411
Cash flows from investing activities:
Purchases of capital assets	(5,628)	(417)
Payments for acquisitions, net of cash acquired	0	(26)
Other	(97)	(176)
Net cash used by investing activities	(5,725)	(619)
Cash flows from financing activities:
Net (payments) proceeds from short-term borrowings	(18,000)	158,000
Payments on long-term debt, including costs of debt reacquisition	(263)	(207,238)
Payments for debt issue costs	(41)	(97)
Proceeds from issuing shares under employee plans	2,585	3,389
Excess tax benefit from share-based employee awards		1,260
Employee taxes paid for shares withheld	(851)	(827)
Payments for common shares repurchased	(15,004)
Cash dividends paid to shareholders	(14,740)	(15,011)
Advances from (to) consolidated subsidiaries	41,484	46,214
Other	0	0
Net cash used by financing activities	(4,830)	(14,310)
Effect of exchange rate change on cash	0	0
Net change in cash and cash equivalents	5,287	(1,518)
Cash and cash equivalents, beginning of year	5,187	8,335
Cash and cash equivalents, end of period	10,474	6,817
Guarantor subsidiaries [Member]
Condensed Consolidating Statements of Cash Flows [Abstract}
Net cash provided by operating activities	55,883	57,848
Cash flows from investing activities:
Purchases of capital assets	(4,043)	(8,266)
Payments for acquisitions, net of cash acquired	(6,667)	(7,558)
Other	(5,698)	636
Net cash used by investing activities	(16,408)	(15,188)
Cash flows from financing activities:
Net (payments) proceeds from short-term borrowings	0	0
Payments on long-term debt, including costs of debt reacquisition	0	0
Payments for debt issue costs	0	0
Proceeds from issuing shares under employee plans	0	0
Excess tax benefit from share-based employee awards		0
Employee taxes paid for shares withheld	0	0
Payments for common shares repurchased	0
Cash dividends paid to shareholders	0	0
Advances from (to) consolidated subsidiaries	(39,552)	(44,993)
Other	(376)	0
Net cash used by financing activities	(39,928)	(44,993)
Effect of exchange rate change on cash	0	0
Net change in cash and cash equivalents	(453)	(2,333)
Cash and cash equivalents, beginning of year	940	4,342
Cash and cash equivalents, end of period	487	2,009
Non-guarantor subsidiaries [Member]
Condensed Consolidating Statements of Cash Flows [Abstract}
Net cash provided by operating activities	1,209	3,957
Cash flows from investing activities:
Purchases of capital assets	(518)	(829)
Payments for acquisitions, net of cash acquired	0	0
Other	1,643	3
Net cash used by investing activities	1,125	(826)
Cash flows from financing activities:
Net (payments) proceeds from short-term borrowings	0	0
Payments on long-term debt, including costs of debt reacquisition	(5)	(4)
Payments for debt issue costs	0	0
Proceeds from issuing shares under employee plans	0	0
Excess tax benefit from share-based employee awards		0
Employee taxes paid for shares withheld	0	0
Payments for common shares repurchased	0
Cash dividends paid to shareholders	0	0
Advances from (to) consolidated subsidiaries	(1,932)	(1,221)
Other	0	(150)
Net cash used by financing activities	(1,937)	(1,375)
Effect of exchange rate change on cash	3,618	(4,441)
Net change in cash and cash equivalents	4,015	(2,685)
Cash and cash equivalents, beginning of year	56,422	52,193
Cash and cash equivalents, end of period	60,437	49,508
Eliminations [Member]
Condensed Consolidating Statements of Cash Flows [Abstract}
Net cash provided by operating activities	(266)	3,314
Cash flows from investing activities:
Purchases of capital assets	0	0
Payments for acquisitions, net of cash acquired	0	0
Other	0	0
Net cash used by investing activities	0	0
Cash flows from financing activities:
Net (payments) proceeds from short-term borrowings	0	0
Payments on long-term debt, including costs of debt reacquisition	0	0
Payments for debt issue costs	0	0
Proceeds from issuing shares under employee plans	0	0
Excess tax benefit from share-based employee awards		0
Employee taxes paid for shares withheld	0	0
Payments for common shares repurchased	0
Cash dividends paid to shareholders	0	0
Advances from (to) consolidated subsidiaries	0	0
Other	0	0
Net cash used by financing activities	0	0
Effect of exchange rate change on cash	0	0
Net change in cash and cash equivalents	(266)	3,314
Cash and cash equivalents, beginning of year	(122)	(3,329)
Cash and cash equivalents, end of period	$ (388)	$ (15)