Deluxe (DLX) 10-Q 25 Oct 19 2019 Q3 Quarterly report Financial data

Document

Document - shares	9 Months Ended
	Sep. 30, 2019	Oct. 16, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-7945
Entity Registrant Name	DELUXE CORPORATION
Entity Central Index Key	0000027996
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0216800
Entity Address, Address Line One	3680 Victoria St. N.
Entity Address, City or Town	Shoreview
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55126-2966
City Area Code	651
Local Phone Number	483-7111
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	DLX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,101,861

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 73,472	$ 59,740
Trade accounts receivable, net of allowances for uncollectible accounts	142,845	173,862
Inventories and supplies	42,194	46,441
Funds held for customers	94,848	100,982
Revenue in excess of billings	25,745	30,458
Other current assets	46,612	38,563
Total current assets	425,716	450,046
Deferred income taxes	5,494	2,886
Long-term investments	44,616	43,773
Property, plant and equipment (net of accumulated depreciation of $376,165 and $367,205, respectively)	92,661	90,342
Operating lease assets	41,739	0
Intangibles (net of accumulated amortization of $591,450 and $535,627, respectively)	287,498	359,965
Goodwill	800,286	1,160,626
Assets held for sale	1,350	1,350
Other non-current assets	189,603	196,108
Total assets	1,888,963	2,305,096
Current liabilities:
Accounts payable	97,588	106,978
Accrued liabilities	264,259	284,281
Long-term debt due within one year	0	791
Total current liabilities	361,847	392,050
Long-term debt	924,000	911,073
Operating lease liabilities	32,434	0
Deferred income taxes	10,257	46,680
Other non-current liabilities	34,898	39,880
Commitments and contingencies (Notes 14 and 15)
Shareholders' equity:
Common shares $1 par value (authorized: 500,000 shares; outstanding: September 30, 2019 - 42,099; December 31, 2018 - 44,647)	42,099	44,647
Retained earnings	540,612	927,345
Accumulated other comprehensive loss	(57,184)	(56,579)
Total shareholders' equity	525,527	915,413
Total liabilities and shareholders' equity	$ 1,888,963	$ 2,305,096

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Accumulated depreciation	$ 376,165	$ 367,205
Accumulated amortization	$ 591,450	$ 535,627
Shareholders' equity:
Common stock, par value (per share)	$ 1	$ 1
Common stock, shares authorized	500,000	500,000
Common stock, shares outstanding	42,099	44,647

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Total revenue	$ 493,593	$ 493,190	$ 1,486,645	$ 1,473,349
Total cost of revenue	(203,723)	(197,634)	(605,875)	(576,594)
Gross profit	289,870	295,556	880,770	896,755
Selling, general and administrative expense	(213,318)	(208,533)	(665,787)	(629,272)
Restructuring and integration expense	(27,674)	(5,104)	(51,454)	(13,797)
Asset impairment charges	(390,980)	(99,170)	(390,980)	(101,319)
Operating (loss) income	(340,683)	(17,282)	(225,086)	153,249
Interest expense	(8,710)	(7,244)	(27,251)	(18,953)
Other income	2,183	2,356	6,118	6,081
(Loss) income before income taxes	(347,210)	(22,170)	(246,219)	140,377
Income tax benefit (provision)	28,717	(8,913)	1,498	(47,916)
Net (loss) income	(318,493)	(31,083)	(244,721)	92,461
Comprehensive (loss) income	$ (322,150)	$ (30,902)	$ (245,326)	$ 87,936
Basic (loss) earnings per share	$ (7.49)	$ (0.67)	$ (5.65)	$ 1.94
Diluted (loss) earnings per share	$ (7.49)	$ (0.67)	$ (5.65)	$ 1.93
Operating expenses [Member]
Restructuring and integration expense	$ (26,255)	$ (5,135)	$ (49,089)	$ (12,915)
Product [Member]
Total revenue	346,315	352,767	1,043,896	1,076,110
Total cost of revenue	(133,807)	(132,996)	(398,869)	(400,700)
Service [Member]
Total revenue	147,278	140,423	442,749	397,239
Total cost of revenue	$ (69,916)	$ (64,638)	$ (207,006)	$ (175,894)

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - 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, beginning of year at Dec. 31, 2017	$ 1,015,013	$ 47,953	$ 0	$ 1,004,657	$ (37,597)
Balance (in shares) at Dec. 31, 2017	47,953
Net (loss) income	$ 92,461			92,461
Cash dividends (quarters ended September 30, 2019 and 2018 - $0.30 per share; nine months ended September 30, 2019 and 2018 - $0.90 per share)	(43,012)			(43,012)
Common shares issued	$ 18,699	518	18,181
Common shares issued (in shares)	518
Common shares repurchased	$ (120,000)	(1,919)	(10,121)	(107,960)
Common shares repurchased (in shares)	(1,919)
Other common shares retired	$ (17,848)	(247)	(17,601)
Other common shares retired (in shares)	(247)
Employee share-based compensation	$ 9,541		9,541
Other comprehensive (loss) income	(4,525)				(4,525)
Balance, end of period at Sep. 30, 2018	$ 955,295	46,305	0	957,979	(48,989)
Balance (in shares) at Sep. 30, 2018	46,305
Balance, beginning of year at Jun. 30, 2018	$ 1,075,136	47,623	0	1,076,683	(49,170)
Balance (in shares) at Jun. 30, 2018	47,623
Net (loss) income	$ (31,083)			(31,083)
Cash dividends (quarters ended September 30, 2019 and 2018 - $0.30 per share; nine months ended September 30, 2019 and 2018 - $0.90 per share)	(14,209)			(14,209)
Common shares issued	$ 1,532	28	1,504
Common shares issued (in shares)	28
Common shares repurchased	$ (80,004)	(1,346)	(5,246)	(73,412)
Common shares repurchased (in shares)	(1,346)
Other common shares retired	$ (22)	0	(22)
Other common shares retired (in shares)	0
Employee share-based compensation	$ 3,764		3,764
Other comprehensive (loss) income	181				181
Balance, end of period at Sep. 30, 2018	$ 955,295	46,305	0	957,979	(48,989)
Balance (in shares) at Sep. 30, 2018	46,305
Adoption of new accounting pronouncement | Accounting Standards Update No. 2014-09 [Member]	$ 4,966			4,966
Adoption of new accounting pronouncement | Adoption of Accounting Standards Update No. 2018-02 [Member]	0			6,867	(6,867)
Balance, beginning of year at Dec. 31, 2018	$ 915,413	44,647	0	927,345	(56,579)
Balance (in shares) at Dec. 31, 2018	44,647
Net (loss) income	$ (244,721)			(244,721)
Cash dividends (quarters ended September 30, 2019 and 2018 - $0.30 per share; nine months ended September 30, 2019 and 2018 - $0.90 per share)	(39,445)			(39,445)
Common shares issued	$ 3,561	150	3,411
Common shares issued (in shares)	150
Common shares repurchased	$ (118,547)	(2,632)	(13,615)	(102,300)
Common shares repurchased (in shares)	(2,632)
Other common shares retired	$ (3,076)	(66)	(3,010)
Other common shares retired (in shares)	(66)
Employee share-based compensation	$ 13,214		13,214
Other comprehensive (loss) income	(605)				(605)
Balance, end of period at Sep. 30, 2019	$ 525,527	42,099	0	540,612	(57,184)
Balance (in shares) at Sep. 30, 2019	42,099
Balance, beginning of year at Jun. 30, 2019	$ 894,149	42,928	0	904,748	(53,527)
Balance (in shares) at Jun. 30, 2019	42,928
Net (loss) income	$ (318,493)			(318,493)
Cash dividends (quarters ended September 30, 2019 and 2018 - $0.30 per share; nine months ended September 30, 2019 and 2018 - $0.90 per share)	(12,977)			(12,977)
Common shares issued	$ 1,523	51	1,472
Common shares issued (in shares)	51
Common shares repurchased	$ (39,651)	(876)	(6,109)	(32,666)
Common shares repurchased (in shares)	(876)
Other common shares retired	$ (204)	(4)	(200)
Other common shares retired (in shares)	(4)
Employee share-based compensation	$ 4,837		4,837
Other comprehensive (loss) income	(3,657)				(3,657)
Balance, end of period at Sep. 30, 2019	$ 525,527	$ 42,099	$ 0	540,612	$ (57,184)
Balance (in shares) at Sep. 30, 2019	42,099
Adoption of new accounting pronouncement | Adoption of Accounting Standards Update No. 2016-02 (Note 2) [Member]	$ (267)			$ (267)

CONSOLIDTED STATEMENTS OF SHARE

CONSOLIDTED STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals) (Unaudited) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends per share	$ 0.30	$ 0.30	$ 0.90	$ 0.90

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net (loss) income	$ (244,721)	$ 92,461
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	12,206	12,724
Amortization of intangibles	83,224	84,199
Operating lease expense	15,145	0
Asset impairment charges	390,980	101,319
Amortization of prepaid product discounts	17,861	16,976
Deferred income taxes	(38,549)	(12,157)
Employee share-based compensation expense	14,580	9,481
Loss (gain) on sales of businesses and customer lists	224	(12,855)
Other non-cash items, net	9,858	5,482
Changes in assets and liabilities, net of effect of acquisitions:
Trade accounts receivable	27,505	1,466
Inventories and supplies	2,728	(2,009)
Other current assets	(3,213)	(13,030)
Non-current assets	(3,346)	(5,116)
Accounts payable	(10,779)	(5,453)
Prepaid product discount payments	(20,370)	(19,125)
Other accrued and non-current liabilities	(45,309)	(35,261)
Net cash provided by operating activities	208,024	219,102
Cash flows from investing activities:
Purchases of capital assets	(49,679)	(42,566)
Payments for acquisitions, net of cash acquired	(1,598)	(190,396)
Purchases of customer funds marketable securities	(3,817)	(3,981)
Proceeds from customer funds marketable securities	3,817	3,981
Other	1,398	1,038
Net cash used by investing activities	(49,879)	(231,924)
Cash flows from financing activities:
Proceeds from issuing long-term debt	203,500	1,189,500
Payments on long-term debt	(189,500)	(1,009,139)
Net change in customer funds obligations	(8,711)	(58)
Proceeds from issuing shares under employee plans	3,159	7,300
Employee taxes paid for shares withheld	(3,076)	(7,969)
Payments for common shares repurchased	(118,547)	(120,000)
Cash dividends paid to shareholders	(39,068)	(42,943)
Other	(1,654)	(4,128)
Net cash (used) provided by financing activities	(153,897)	12,563
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents	2,604	(2,446)
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents	6,852	(2,705)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year	145,259	128,819
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	$ 152,111	$ 126,114

Consolidated financial statemen

Consolidated financial statements	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated financial statements	Consolidated financial statements The consolidated balance sheet as of September 30, 2019 , the consolidated statements of comprehensive (loss) income for the quarters and nine months ended September 30, 2019 and 2018 , the consolidated statements of shareholders’ equity for the quarters and nine months ended September 30, 2019 and 2018 , and the consolidated statements of cash flows for the nine months ended September 30, 2019 and 2018 are unaudited. The consolidated balance sheet as of December 31, 2018 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, 2018 (the “ 2018 Form 10-K”). In November 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-18, Restricted Cash . This standard requires the statement of cash flows to explain the change during the period in the total of cash, cash equivalents, restricted cash and restricted cash equivalents. This standard was effective for us on January 1, 2018 and was required to be applied retrospectively. During the quarter ended December 31, 2018, we identified a misstatement in our statement of cash flows presentation under this standard. We concluded that the cash and cash equivalents included in funds held for customers should be included with cash, cash equivalents, restricted cash and restricted cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statements of cash flows, in accordance with ASU No. 2016-18. Additionally, we determined that gross redemptions and purchases of marketable debt securities included in funds held for customers should be presented as cash flows from investing activities in the statements of cash flows. This misstatement affected our consolidated statements of cash flows as presented in our 2018 Quarterly Reports on Form 10-Q. We assessed the materiality of this misstatement on prior periods' financial statements in accordance with Securities and Exchange Commission Staff Accounting Bulletin No. 99, Materiality , codified in Accounting Standards Codification (ASC) 250, Presentation of Financial Statements . We concluded that the misstatement was not material to any prior interim period and therefore, amendments of previously filed reports were not required. In accordance with ASC 250, we have corrected the misstatement for all prior periods presented by revising the consolidated financial statements appearing herein. The revisions had no impact on total assets, total liabilities, shareholders' equity, net income or net cash provided by operating activities. The impact of the revisions on our consolidated statement of cash flows for the nine months ended September 30, 2018 was as follows: (in thousands) Previously reported Adjustment Revised Purchases of customer funds marketable securities $ — $ (3,981 ) $ (3,981 ) Proceeds from customer funds marketable securities — 3,981 3,981 Net cash used by investing activities (231,924 ) — (231,924 ) Net change in customer funds obligations — (58 ) (58 ) Net cash provided by financing activities 12,621 (58 ) 12,563 Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents (1,188 ) (1,258 ) (2,446 ) Net change in cash, cash equivalents, restricted cash and restricted cash equivalents (1,389 ) (1,316 ) (2,705 ) Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year 59,240 69,579 128,819 Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period $ 57,851 $ 68,263 $ 126,114

New accounting pronouncements

New accounting pronouncements	9 Months Ended
	Sep. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New accounting pronouncements	New accounting pronouncements ASU No. 2016-02 – In February 2016, the FASB issued ASU No. 2016-02, Leasing . This standard is intended to increase transparency and comparability among organizations by requiring the recognition of lease right-of-use assets and lease liabilities for virtually all leases and by requiring the disclosure of key information about leasing arrangements. In July 2018, the FASB issued two amendments to this standard: ASU No. 2018-10, Codification Improvements to Topic 842, Leases , which amended narrow aspects of the guidance in ASU No. 2016-02, and ASU No. 2018-11, Targeted Improvements, which provided an optional transition method under which comparative periods presented in financial statements in the period of adoption would not be restated. In March 2019, the FASB issued ASU No. 2019-01, Codification Improvements . This standard addressed areas identified as companies prepared to implement ASU No. 2016-02. We adopted all of these standards on January 1, 2019, using a modified retrospective approach and the optional transition method under ASU No. 2018-11. As such, prior periods have not been restated to reflect the new guidance. We elected the practical expedient package outlined in ASU No. 2016-02 under which we did not have to reassess whether an arrangement contains a lease, we carried forward our previous classification of leases as either operating or capital leases, and we did not reassess previously recorded initial direct costs. Additionally, we made the following policy elections: • we excluded leases with original terms of 12 months or less from lease assets and lease liabilities; • we separated nonlease components, such as common area maintenance charges and utilities, from the associated lease component for real estate leases, based on their estimated fair values; and • we used the accounting lease term when determining the incremental borrowing rate for leases with renewal options. Adoption of the standards had a material impact on our consolidated balance sheet, but did not have a significant impact on our consolidated statements of comprehensive loss or our consolidated statement of cash flows. The most significant impact was the recognition of operating lease assets of $50,803 , current operating lease liabilities of $13,611 and non-current operating lease liabilities of $37,440 as of January 1, 2019. Our accounting for finance leases remained substantially unchanged. We determine if an arrangement is a lease at inception by considering whether a contract explicitly or implicitly identifies assets deployed in the arrangement and whether we have obtained substantially all of the economic benefits from the use of the underlying assets and direct how and for what purpose the assets are used during the term of the contract. Operating leases are included in operating lease assets, accrued liabilities and operating lease liabilities on our consolidated balance sheet. Finance leases are included in property, plant and equipment, accrued liabilities and other non-current liabilities on our consolidated balance sheet. Lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As our lease agreements typically do not provide an implicit rate, we use our incremental borrowing rate based on information available at the lease commencement date in determining the present value of lease payments. Certain of our lease agreements include options to extend or terminate the lease. The lease term takes into account these options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is included in total cost of revenue and in selling, general and administrative (SG&A) expense on the consolidated statements of comprehensive (loss) income, and interest on finance leases is included in interest expense on the consolidated statements of comprehensive (loss) income. Operating lease expense is recognized on the straight-line basis over the lease term. Information regarding our leases can be found in Note 14. ASU No. 2016-13 – In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments . This standard introduces new guidance for the accounting for credit losses on instruments within its scope, including trade and loans receivable and available-for-sale debt securities. Subsequently, the FASB issued several amendments to this standard. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, which clarifies that receivables arising from operating leases are not within the scope of ASU No. 2016-13. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. This standard provides additional guidance on the measurement and presentation of credit losses. In May 2019, the FASB issued ASU No. 2019-05, Targeted Transition Relief , which provides transition guidance to entities that elect the fair value option for eligible instruments. All of these standards are effective for us on January 1, 2020 and require adoption using a modified retrospective approach. We do not expect the application of these standards to have a significant impact on our results of operations or financial position. ASU No. 2018-13 – In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurements . This standard removes, modifies and adds certain disclosures related to recurring and nonrecurring fair value measurements. During 2018, we adopted the provisions of the standard that remove and modify disclosure requirements. The additional disclosures required under the guidance are effective for us on January 1, 2020 and are required to be applied prospectively to fair value measurements completed on or after the effective date. ASU No. 2018-15 – In August 2018, the FASB issued ASU No. 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The accounting for the service element of a hosting arrangement that is a service contract is not affected by the new standard. The guidance is effective for us on January 1, 2020 and may be adopted retrospectively or prospectively to eligible costs incurred on or after the date the guidance is first applied. This new guidance will impact our results of operations and financial position as we currently expense these implementation costs as incurred. We plan to adopt the standard prospectively. As such, the impact of the standard on our financial statements will depend on the transactions that occur subsequent to adoption.

Supplemental balance sheet and

Supplemental balance sheet and cash flow information	9 Months Ended
	Sep. 30, 2019
Supplemental balance sheet and cash flow information [Abstract]
Supplemental balance sheet and cash flow information	Supplemental balance sheet and cash flow information Allowance for uncollectible accounts – Changes in the allowance for uncollectible accounts for the nine months ended September 30, 2019 and 2018 were as follows: Nine Months Ended (in thousands) 2019 2018 Balance, beginning of year $ 3,639 $ 2,884 Bad debt expense 3,718 2,275 Write-offs, net of recoveries (2,537 ) (2,036 ) Balance, end of period $ 4,820 $ 3,123 Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) September 30, December 31, Raw materials $ 7,537 $ 7,543 Semi-finished goods 7,396 7,273 Finished goods 23,719 27,608 Supplies 3,542 4,017 Inventories and supplies $ 42,194 $ 46,441 Available-for-sale debt securities – Available-for-sale debt securities included within funds held for customers were comprised of the following: September 30, 2019 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 14,000 $ — $ — $ 14,000 Canadian and provincial government securities 8,856 — (199 ) 8,657 Canadian guaranteed investment certificates 7,552 — — 7,552 Available-for-sale debt securities $ 30,408 $ — $ (199 ) $ 30,209 (1) Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2019 , also included cash of $64,639 . December 31, 2018 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 16,000 $ — $ — $ 16,000 Canadian and provincial government securities 8,485 — (355 ) 8,130 Canadian guaranteed investment certificates 7,333 — — 7,333 Available-for-sale debt securities $ 31,818 $ — $ (355 ) $ 31,463 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2018 , also included cash of $69,519 . Expected maturities of available-for-sale debt securities as of September 30, 2019 were as follows: (in thousands) Fair value Due in one year or less $ 24,019 Due in two to five years 3,550 Due in six to ten years 2,640 Available-for-sale debt securities $ 30,209 Further information regarding the fair value of available-for-sale debt securities can be found in Note 8. Revenue in excess of billings – Revenue in excess of billings was comprised of the following: (in thousands) September 30, December 31, Conditional right to receive consideration $ 16,032 $ 19,705 Unconditional right to receive consideration 9,713 10,753 Revenue in excess of billings $ 25,745 $ 30,458 Assets held for sale – Assets held for sale as of September 30, 2019 and December 31, 2018 consisted of 1 small business customer list with a carrying value of $1,350 . We are actively marketing this asset, and we expect the selling price will equal or exceed its current carrying value. During the quarter ended September 30, 2018 , we sold the assets of a provider of printed and promotional products, as well as certain small business customer lists. During the nine months ended September 30, 2018 , we also sold the assets of an additional provider of printed and promotional products and a small business distributor, as well as additional small business customer lists. We determined that these assets would be better positioned for long-term growth if they were managed by independent distributors. Subsequent to the sales, the assets are owned by independent distributors that are part of our Safeguard ® distributor network. As such, our revenue was not impacted by these sales and the impact to our costs was not significant. These sales resulted in aggregate net gains within SG&A expense of $1,765 for the quarter ended September 30, 2018 and $12,855 for the nine months ended September 30, 2018 . Intangibles – Intangibles were comprised of the following: September 30, 2019 December 31, 2018 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Amortizable intangibles: Internal-use software $ 417,098 $ (334,336 ) $ 82,762 $ 388,477 $ (308,313 ) $ 80,164 Customer lists/relationships 357,809 (190,993 ) 166,816 379,570 (170,973 ) 208,597 Trade names 32,361 (27,048 ) 5,313 50,645 (26,204 ) 24,441 Technology-based intangibles 34,080 (19,772 ) 14,308 39,300 (14,007 ) 25,293 Software to be sold 36,900 (18,601 ) 18,299 36,900 (15,430 ) 21,470 Other 700 (700 ) — 700 (700 ) — Intangibles $ 878,948 $ (591,450 ) $ 287,498 $ 895,592 $ (535,627 ) $ 359,965 During the quarter ended September 30, 2019, we recorded asset impairment charges related to customer lists/relationships, trade names and technology-based intangibles. Further information regarding these asset impairment charges can be found in Note 8. Amortization of intangibles was $26,736 for the quarter ended September 30, 2019 , $28,505 for the quarter ended September 30, 2018 , $83,224 for the nine months ended September 30, 2019 and $84,199 for the nine months ended September 30, 2018 . Based on the intangibles in service as of September 30, 2019 , estimated future amortization expense is as follows: (in thousands) Estimated amortization expense Remainder of 2019 $ 27,463 2020 89,907 2021 68,423 2022 41,251 2023 26,533 The following intangibles were acquired during the nine months ended September 30, 2019 : (in thousands) Amount Weighted-average amortization period (in years) Internal-use software $ 33,370 3 Customer lists/relationships (1) 11,970 8 Acquired intangibles $ 45,340 5 (1) These asset purchases did not qualify as business combinations. Goodwill – Changes in goodwill during the nine months ended September 30, 2019 were as follows: (in thousands) Small Business Services Financial Services Direct Checks Total Balance, December 31, 2018: Goodwill, gross $ 765,266 $ 373,421 $ 148,506 $ 1,287,193 Accumulated impairment charges (126,567 ) — — (126,567 ) Goodwill, net of accumulated impairment charges 638,699 373,421 148,506 1,160,626 Impairment charges (Note 8) (242,267 ) (115,474 ) — (357,741 ) Measurement-period adjustments for prior year acquisitions (Note 6) (340 ) (1,427 ) — (1,767 ) Currency translation adjustment (832 ) — — (832 ) Balance, September 30, 2019 $ 395,260 $ 256,520 $ 148,506 $ 800,286 Balance, September 30, 2019: Goodwill, gross 764,094 371,994 148,506 1,284,594 Accumulated impairment charges (368,834 ) (115,474 ) — (484,308 ) Goodwill, net of accumulated impairment charges $ 395,260 $ 256,520 $ 148,506 $ 800,286 Other non-current assets – Other non-current assets were comprised of the following: (in thousands) September 30, December 31, Loans and notes receivable from Safeguard distributors $ 67,924 $ 78,693 Prepaid product discounts 51,748 54,642 Postretirement benefit plan asset 45,808 41,259 Deferred sales commissions (1) 10,603 6,482 Deferred advertising costs 4,089 5,746 Other 9,431 9,286 Other non-current assets $ 189,603 $ 196,108 (1) Amortization of deferred sales commissions was $2,246 for the nine months ended September 30, 2019 and $2,033 for the nine months ended September 30, 2018 . Changes in prepaid product discounts during the nine months ended September 30, 2019 and 2018 were as follows: Nine Months Ended (in thousands) 2019 2018 Balance, beginning of year $ 54,642 $ 63,895 Additions (1) 15,275 11,695 Amortization (17,861 ) (16,976 ) Other (308 ) (75 ) Balance, end of period $ 51,748 $ 58,539 (1) Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $20,370 for the nine months ended September 30, 2019 and $19,125 for the nine months ended September 30, 2018 . Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) September 30, December 31, Funds held for customers $ 93,337 $ 99,818 Deferred revenue (1) 39,845 54,313 Employee profit sharing/cash bonus 31,323 31,286 Wages 13,055 6,359 Operating lease liabilities 12,840 — Prepaid product discounts due within one year 11,221 10,926 Customer rebates 9,845 9,555 Restructuring and integration (Note 9) 6,138 3,320 Other 46,655 68,704 Accrued liabilities $ 264,259 $ 284,281 (1) $45,032 of the December 31, 2018 amount was recognized as revenue during the nine months ended September 30, 2019 . Other non-current liabilities – Other non-current liabilities were comprised of the following: (in thousands) September 30, December 31, Prepaid product discounts $ 6,860 $ 12,513 Other 28,038 27,367 Other non-current liabilities $ 34,898 $ 39,880 Supplemental cash flow information – The reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the consolidated balance sheets was as follows: (in thousands) September 30, September 30, Cash and cash equivalents $ 73,472 $ 57,851 Restricted cash and restricted cash equivalents included in funds held for customers 78,639 68,263 Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 152,111 $ 126,114

(Loss) earnings per share

(Loss) earnings per share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
(Loss) earnings per share	(Loss) earnings per share The following table reflects the calculation of basic and diluted (loss) earnings per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted (loss) earnings per share because their effect would have been antidilutive. Quarter Ended Nine Months Ended (in thousands, except per share amounts) 2019 2018 2019 2018 (Loss) earnings per share – basic: Net (loss) income $ (318,493 ) $ (31,083 ) $ (244,721 ) $ 92,461 Income allocated to participating securities (24 ) (53 ) (79 ) (396 ) (Loss) income available to common shareholders $ (318,517 ) $ (31,136 ) $ (244,800 ) $ 92,065 Weighted-average shares outstanding 42,533 46,781 43,312 47,340 (Loss) earnings per share – basic $ (7.49 ) $ (0.67 ) $ (5.65 ) $ 1.94 (Loss) earnings per share – diluted: Net (loss) income $ (318,493 ) $ (31,083 ) $ (244,721 ) $ 92,461 Income allocated to participating securities (24 ) (53 ) (79 ) (394 ) Re-measurement of share-based awards classified as liabilities — (98 ) — (274 ) (Loss) income available to common shareholders $ (318,517 ) $ (31,234 ) $ (244,800 ) $ 91,793 Weighted-average shares outstanding 42,533 46,781 43,312 47,340 Dilutive impact of potential common shares — 22 — 178 Weighted-average shares and potential common shares outstanding 42,533 46,803 43,312 47,518 (Loss) earnings per share – diluted $ (7.49 ) $ (0.67 ) $ (5.65 ) $ 1.93 Antidilutive options excluded from calculation 1,422 1,037 1,422 570

Other comprehensive income

Other comprehensive income	9 Months Ended
	Sep. 30, 2019
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 (loss) income was as follows: Accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affected line item in consolidated statements of comprehensive (loss) income Quarter Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Realized gain on interest rate swap $ 81 $ — $ 81 $ — Interest expense Tax expense (21 ) — (21 ) — Income tax benefit (provision) Realized gain on interest rate swap, net of tax 60 — 60 — Net (loss) income Amortization of postretirement benefit plan items: Prior service credit 355 355 1,066 1,066 Other income Net actuarial loss (806 ) (721 ) (2,417 ) (2,163 ) Other income Total amortization (451 ) (366 ) (1,351 ) (1,097 ) Other income Tax benefit 70 47 209 447 Income tax benefit (provision) Amortization of postretirement benefit plan items, net of tax (381 ) (319 ) (1,142 ) (650 ) Net (loss) income Total reclassifications, net of tax $ (321 ) $ (319 ) $ (1,082 ) $ (650 ) Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the nine months ended September 30, 2019 were as follows: (in thousands) Postretirement benefit plans Net unrealized loss on available-for-sale debt securities (1) Net unrealized loss on cash flow hedge (2) Currency translation adjustment Accumulated other comprehensive loss Balance, December 31, 2018 $ (36,529 ) $ (323 ) $ — $ (19,727 ) $ (56,579 ) Other comprehensive income (loss) before reclassifications — 122 (1,790 ) (19 ) (1,687 ) Amounts reclassified from accumulated other comprehensive loss 1,142 — (60 ) — 1,082 Net current-period other comprehensive income (loss) 1,142 122 (1,850 ) (19 ) (605 ) Balance, September 30, 2019 $ (35,387 ) $ (201 ) $ (1,850 ) $ (19,746 ) $ (57,184 ) (1) Other comprehensive income before reclassifications is net of income tax expense of $43 . (2) Other comprehensive loss before reclassifications is net of an income tax benefit of $635 .

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2019
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 (loss) income from their acquisition dates. Transaction costs related to acquisitions are expensed as incurred and are included in SG&A expense in the consolidated statements of comprehensive (loss) income. Transaction costs were not significant to our consolidated statements of comprehensive (loss) income for the nine months ended September 30, 2019 and 2018 . We did not complete any acquisitions during the nine months ended September 30, 2019. Payments for acquisitions, net of cash acquired, for the nine months ended September 30, 2019 were $1,598 and related to holdback payments for prior year acquisitions. During the nine months ended September 30, 2018 , we completed the following acquisitions within our Small Business Services segment: • In June 2018, we acquired selected assets of Velocity Servers, Inc., doing business as ColoCrossing, a data center solutions, cloud hosting and infrastructure colocation provider of dedicated hosing services. • In March 2018, we acquired all of the equity of Logomix Inc., a self-service marketing and branding platform that helps small businesses create logos and custom marketing products. • We acquired the operations of 3 small business distributors. In August 2018, we acquired selected assets of REMITCO LLC, the remittance processing business of First Data Corporation. The results of this business are included in our Financial Services segment. Payments for acquisitions, net of cash acquired, for the nine months ended September 30, 2018 , included payments of $170,011 for these acquisitions and $20,385 for holdback payments for prior year acquisitions. Further information regarding our 2018 acquisitions can be found under the caption “Note 6: Acquisitions” in the Notes to Consolidated Financial Statements appearing in the 2018 Form 10-K. During the nine months ended September 30, 2019 , we recorded measurement-period adjustments for 2018 acquisitions that decreased goodwill $1,767 , with the offset to various assets and liabilities, including a $1,000 increase in customer list intangible assets.

Derivative financial instrument

Derivative financial instruments	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative financial Instruments	Derivative financial instruments As part of our interest rate risk management strategy, in July 2019, we entered into an interest rate swap, which we designated as a cash flow hedge, to mitigate variability in interest payments on a portion of the amount drawn under our revolving credit facility (Note 13). The interest rate swap, which terminates in March 2023 when our revolving credit facility matures, effectively converts $200,000 of variable rate debt to a fixed rate of 1.798% . Changes in the fair value of the interest rate swap are recorded in accumulated other comprehensive loss on the consolidated balance sheet and are subsequently reclassified into interest expense as interest payments are made on the variable-rate debt. The fair value of the interest rate swap was $2,506 as of September 30, 2019 and was included in other non-current liabilities on the consolidated balance sheet. The fair value of this derivative is calculated based on the prevailing LIBOR rate curve on the date of measurement. The cash flow hedge was fully effective as of September 30, 2019 and its impact on our 2019 statements of comprehensive loss and statement of cash flows was not significant. We also do not expect the amount to be reclassified into interest expense over the next 12 months to be significant.

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Annual asset impairment analyses – We evaluate the carrying value of goodwill as of July 31 of each year and between annual evaluations if events occur or circumstances change that would indicate a possible impairment. Our policy on impairment of indefinite-lived intangibles and goodwill, which is included under the caption "Note 1: Significant accounting policies" in the Notes to Consolidated Financial Statements appearing in the 2018 Form 10-K, explains our methodology for assessing impairment of these assets. • 2019 annual impairment analyses – In completing the 2019 annual impairment analysis of goodwill, we elected to perform a qualitative analysis for 4 of our reporting units and a quantitative assessment for 2 of our reporting units: Financial Services Data-Driven Marketing and Small Business Services Web Services. Financial Services Data-Driven Marketing includes our businesses that provide outsourced marketing campaign targeting and execution and marketing analytics solutions. Small Business Services Web Services includes our businesses that provide hosting and domain name services, logo and web design, search engine marketing and optimization, payroll services and business incorporation and organization services. The qualitative analyses evaluated factors, including, but not limited to, economic, market and industry conditions, cost factors and the overall financial performance of the reporting units. We also considered the quantitative analyses completed as of July 31, 2017, which indicated that the estimated fair values of the 4 reporting units exceeded their carrying values by approximate amounts between $64,000 and $1,405,000 , or by amounts between 50% and 314% above the carrying values of their net assets. In completing these assessments, we noted no changes in events or circumstance that indicated that it was more likely than not that the fair value of any reporting unit was less than its carrying amount. The quantitative analyses as of July 31, 2019 indicated that the goodwill of our Financial Services Data-Driven Marketing reporting unit was partially impaired and the goodwill of our Small Business Services Web Services reporting unit was fully impaired. As such, we recorded pretax goodwill impairment charges of $115,474 and $242,267 , respectively. Both impairment charges resulted from a combination of triggering events and circumstances, including underperformance against 2019 expectations and the original acquisition business case assumptions, our decision in the third quarter of 2019 to exit certain customer contracts, the loss of certain large customers in the third quarter of 2019 as they elected to in-source some of the services we provide, and the sustained decline in our stock price. The impairment charges were measured as the amount by which the reporting units' carrying values exceeded their estimated fair values, limited to the carrying amount of goodwill. After the impairment charges, $70,914 of goodwill remained in the Financial Services Data-Driven Marketing reporting unit. • 2018 annual impairment analyses – Details of our 2018 annual impairment analyses can be found under the caption "Note 8: Fair value measurements" in the Notes to Consolidated Financial Statements appearing in the 2018 Form 10-K. These analyses indicated that the goodwill of the Small Business Services Indirect reporting unit was fully impaired, resulting in a pretax goodwill impairment charge of $78,188 during the quarter ended September 30, 2018. In addition, the assets of this reporting unit included an indefinite-lived trade name intangible asset. Our quantitative analysis of this asset indicated that it was also fully impaired (level 3 fair value measurement), resulting in a pretax asset impairment charge of $19,100 . Other non-recurring asset impairment analyses – Due to certain triggering events, we assessed for impairment the other long-lived assets of our Financial Services Data-Driven Marketing and Small Business Services Web Services reporting units as of July 31, 2019. As a result of the same factors that resulted in the goodwill impairment charge, we recorded pretax asset impairment charges of $31,316 related to certain trade name, customer list and technology-based intangible assets in the Small Business Services Web Services reporting unit. We concluded that the long-lived assets of our Financial Services Data-Driven Marketing reporting unit were not impaired. During the quarter ended September 30, 2019, we also recorded a pretax asset impairment charge of $1,923 related to an additional Financial Services customer list intangible asset. Due to a change in the related forecasted cash flows associated with the asset, we determined that it was fully impaired as of July 31, 2019. We utilized the discounted value of estimated future cash flows to estimate the fair values of these asset groups (level 3 fair value measurements). During the quarter ended September 30, 2018, we recorded pretax asset impairment charges of $1,882 for Financial Services customer list intangible assets related to 2 small distributors we acquired in 2015. Based on higher than anticipated customer attrition, we determined that the customer lists were partially impaired as of July 31, 2018. During the quarter ended March 31, 2018, we recorded a pretax asset impairment charge of $2,149 related to a Small Business Services customer list intangible asset. Based on changes in the customer base of one of our small business distributors, we determined that the customer list asset was fully impaired as of March 31, 2018. We utilized the discounted value of estimated future cash flows to estimate the fair values of these asset groups (Level 3 fair value measurements). Information regarding the impairment analyses completed during each year was as follows: Fair value measurements using Fair value as of measurement date Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs Impairment charge (in thousands) (Level 1) (Level 2) (Level 3) 2019 analyses: Trade names (Small Business Services) $ 1,834 $ — $ — $ 1,834 $ 14,441 Customer lists (Small Business Services) 4,405 — — 4,405 11,655 Technology-based (Small Business Services) — — — — 5,220 Customer list (Financial Services) — — — — 1,923 Goodwill 357,741 Total impairment charges $ 390,980 2018 analyses: Indefinite-lived trade name (Small Business Services) $ — $ — $ — $ — $ 19,100 Customer list (Small Business Services) — $ — — — 2,149 Customer lists (Financial Services) (1) 4,223 — — 4,223 1,882 Goodwill 78,188 Total impairment charges $ 101,319 (1) The fair value presented is for the entire asset group that includes the impaired customer lists. Recurring fair value measurements – The fair value of accrued contingent consideration is remeasured each reporting period. Increases or decreases in projected revenue or operating income, as appropriate, and the related probabilities of achieving the forecasted results, 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 on the consolidated statements of comprehensive (loss) income. Changes in fair value resulting from accretion for the passage of time are included in interest expense on the consolidated statements of comprehensive (loss) income. Changes in accrued contingent consideration during the nine months ended September 30, 2019 were as follows: (in thousands) Nine Months Ended September 30, 2019 Balance, December 31, 2018 $ 2,396 Change in fair value 213 Payments (1,284 ) Balance, September 30, 2019 $ 1,325 Funds held for customers included cash equivalents and available-for-sale debt securities (Note 3). The cash equivalents consisted of a money market fund investment that is traded in an active market. Because of the short-term nature of the underlying investments, the cost of this investment approximates its fair value. Available-for-sale debt 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 1 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 on the consolidated balance sheets. The cost of securities sold is determined using the average cost method. Realized gains and losses are included in revenue on the consolidated statements of comprehensive (loss) income and were not significant for the quarters or nine months ended September 30, 2019 and 2018 . Information regarding the fair values of our financial instruments was as follows: Fair value measurements using September 30, 2019 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) Measured at fair value through net (loss) income: Accrued contingent consideration $ (1,325 ) $ (1,325 ) $ — $ — $ (1,325 ) Measured at fair value through comprehensive (loss) income: Cash equivalents (funds held for customers) 14,000 14,000 14,000 — — Available-for-sale debt securities (funds held for customers) 16,209 16,209 — 16,209 — Derivative liability (Note 7) (2,506 ) (2,506 ) — (2,506 ) — Amortized cost: Cash 73,472 73,472 73,472 — — Cash (funds held for customers) 64,639 64,639 64,639 — — Loans and notes receivable from Safeguard distributors 71,189 64,506 — — 64,506 Long-term debt 924,000 924,000 — 924,000 — Fair value measurements using December 31, 2018 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) Measured at fair value through net (loss) income: Accrued contingent consideration $ (2,396 ) $ (2,396 ) $ — $ — $ (2,396 ) Measured at fair value through comprehensive (loss) income: Cash equivalents (funds held for customers) 16,000 16,000 16,000 — — Available-for-sale debt securities (funds held for customers) 15,463 15,463 — 15,463 — Amortized cost: Cash 59,740 59,740 59,740 — — Cash (funds held for customers) 69,519 69,519 69,519 — — Loans and notes receivable from Safeguard distributors 81,560 60,795 — — 60,795 Long-term debt (1) 910,000 910,000 — 910,000 — (1) Amounts exclude capital lease obligations.

Restructuring and integration e

Restructuring and integration expense	9 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring and integration expense	Restructuring and integration expense Restructuring and integration expense consists of costs related to the integration of acquired businesses into our systems and processes. It also includes costs related to the consolidation and migration of certain applications and processes, including our human resources management system and certain of our sales and financial systems. These costs primarily consist of information technology consulting and project management services, internal labor, training and travel. In addition, we recorded employee severance costs related to these initiatives, as well as our ongoing cost reduction initiatives, across functional areas. Our restructuring and integration activities have increased in 2019, as we are currently pursuing several initiatives designed to focus our business behind our growth strategies and to increase our efficiency. Restructuring and integration expense for each period consisted of the following components: Quarter Ended Nine Months Ended (in thousands, except number of employees) 2019 2018 2019 2018 Severance accruals $ 5,124 $ 2,118 $ 10,270 $ 6,766 Severance reversals (91 ) (1,157 ) (476 ) (1,387 ) Operating lease obligations — 291 — 291 Net accruals 5,033 1,252 9,794 5,670 Other costs 22,641 3,852 41,660 8,127 Restructuring and integration expense $ 27,674 $ 5,104 $ 51,454 $ 13,797 Number of employees included in severance accruals 180 75 270 180 Restructuring and integration expense is reflected in the consolidated statements of comprehensive (loss) income as follows: Quarter Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Total cost of revenue $ 1,419 $ (31 ) $ 2,365 $ 882 Operating expenses 26,255 5,135 49,089 12,915 Restructuring and integration expense $ 27,674 $ 5,104 $ 51,454 $ 13,797 Restructuring accruals of $6,138 as of September 30, 2019 are reflected in the consolidated balance sheet as accrued liabilities. Accruals of $3,461 as of December 31, 2018 are reflected in the consolidated balance sheet as accrued liabilities of $3,320 and other non-current liabilities of $141 . The majority of the related employee reductions are expected to be completed by the end of 2019, and we expect most of the related severance payments to be paid by mid-2020. As of September 30, 2019 , approximately 130 employees had not yet started to receive severance benefits. Restructuring accruals, summarized by year, were as follows: (in thousands) 2019 initiatives 2018 initiatives 2017 initiatives Total Balance, December 31, 2018 $ — $ 3,448 $ 13 $ 3,461 Charges 9,919 351 — 10,270 Reversals (155 ) (308 ) (13 ) (476 ) Payments (3,886 ) (2,949 ) — (6,835 ) Adoption of ASU No. 2016-02 (1) — (282 ) — (282 ) Balance, September 30, 2019 $ 5,878 $ 260 $ — $ 6,138 Cumulative amounts: Charges $ 9,919 $ 8,487 $ 7,355 $ 25,761 Reversals (155 ) (1,720 ) (726 ) (2,601 ) Payments (3,886 ) (6,225 ) (6,629 ) (16,740 ) Adoption of ASU No. 2016-02 (1) — (282 ) — (282 ) Balance, September 30, 2019 $ 5,878 $ 260 $ — $ 6,138 (1) Upon adoption of ASU No. 2016-02, Leasing, on January 1, 2019 (Note 2), our operating lease obligations accrual was reversed and the related operating lease asset was analyzed for impairment in accordance with the new guidance. 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 (1) Small Business Services Financial Services Total Balance, December 31, 2018 $ 1,326 $ 1,397 $ — $ 456 $ 282 $ — $ 3,461 Charges 3,309 2,449 168 4,344 — — 10,270 Reversals (140 ) (108 ) (1 ) (227 ) — — (476 ) Payments (1,944 ) (2,570 ) (107 ) (2,214 ) — — (6,835 ) Adoption of ASU No. 2016-02 (2) — — — — (282 ) — (282 ) Balance, September 30, 2019 $ 2,551 $ 1,168 $ 60 $ 2,359 $ — $ — $ 6,138 Cumulative amounts: (3) Charges $ 7,848 $ 8,615 $ 311 $ 8,367 $ 329 $ 291 $ 25,761 Reversals (744 ) (1,315 ) (6 ) (465 ) — (71 ) (2,601 ) Payments (4,553 ) (6,132 ) (245 ) (5,543 ) (47 ) (220 ) (16,740 ) Adoption of ASU No. 2016-02 (2) — — — — (282 ) — (282 ) Balance, September 30, 2019 $ 2,551 $ 1,168 $ 60 $ 2,359 $ — $ — $ 6,138 (1) As discussed in Note 17, corporate costs are allocated to our business segments. As such, the net corporate charges are reflected in the business segment operating (loss) income presented in Note 17 in accordance with our allocation methodology. (2) Upon adoption of ASU No. 2016-02, Leasing, on January 1, 2019 (Note 2), our operating lease obligations accrual was reversed and the related operating lease asset was analyzed for impairment in accordance with the new guidance. (3) Includes accruals related to our integration and cost reduction initiatives for 2017 through 2019.

Chief Exective Officer transiti

Chief Exective Officer transition costs	9 Months Ended
	Sep. 30, 2019
Chief Executive Officer transition costs [Abstract]
Chief Executive Officer transition costs	Chief Executive Officer transition costs In April 2018, we announced the retirement of Lee Schram, our former Chief Executive Officer (CEO). Mr. Schram remained employed under the terms of a transition agreement through March 1, 2019. Under the terms of this agreement, we provided certain benefits to Mr. Schram, including a transition bonus in the amount of $2,000 that was paid in March 2019, accelerated vesting of certain restricted stock unit awards, and continued vesting and settlement of a pro-rata portion of outstanding performance share awards to the extent such awards were earned based on the attainment of performance goals. The modifications to Mr. Schram's share-based payment awards resulted in expense of $2,088 , which was largely recognized in 2018. In conjunction with the CEO transition, we offered retention agreements to certain members of our management team under which each employee will be entitled to receive a cash bonus equal to his or her annual base salary or up to 1.5 times his or her annual base salary if he or she remains employed during the retention period, generally from July 1, 2018 to December 31, 2019, and complies with certain covenants. The retention bonus will be paid to an employee if his or her employment is terminated without cause before the end of the retention period. In addition to these expenses, we incurred certain other costs related to the CEO transition process, including executive search, legal, travel and board of directors fees in 2018. During 2019, we incurred consulting fees related to the evaluation of our strategic plan and we expensed the majority of the current CEO's signing bonus in 2019. CEO transition costs are included in SG&A expense on the consolidated statements of comprehensive (loss) income and were $1,145 for the quarter ended September 30, 2019 , $2,622 for the quarter ended September 30, 2018 , $8,539 for the nine months ended September 30, 2019 and $4,152 for the nine months ended September 30, 2018 . Accruals for CEO transition costs were $3,925 as of September 30, 2019 and were included in accrued liabilities on the consolidated balance sheet. Accruals for CEO transition costs as of December 31, 2018 were $1,972 within accrued liabilities and $1,808 within other non-current liabilities.

Income tax benefit (provision)

Income tax benefit (provision)	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax benefit (provision)	Income tax benefit (provision) The effective tax rate on pre-tax (loss) income reconciles to the United States federal statutory rate of 21% as follows: Nine Months Ended September 30, 2019 Year Ended December 31, 2018 Income tax at federal statutory rate 21.0 % 21.0 % Goodwill impairment charges (Note 8) (22.0 %) 7.1 % State income tax, net of federal income tax benefit 4.9 % 3.0 % Foreign deferred tax valuation allowance (3.4 %) — Foreign tax rate differences 1.2 % 0.4 % Net tax impact of share-based compensation (0.7 %) (0.8 %) Impact of Tax Cuts and Jobs Act — (0.8 %) Other (0.4 %) (0.3 %) Effective tax rate 0.6 % 29.6 % During the quarter ended September 30, 2019, we recorded asset impairment charges related to certain intangible assets located in Australia. As a result, we placed a full valuation allowance on the intangible-related deferred tax asset of $8,432 , as we do not expect that we will realize the benefit of this deferred tax asset.

Postretirement benefits

Postretirement benefits	9 Months Ended
	Sep. 30, 2019
Defined Benefit Plan [Abstract]
Postretirement benefits	Postretirement benefits We have historically provided certain health care benefits for a large number of retired United States 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 14: Postretirement benefits” in the Notes to Consolidated Financial Statements appearing in the 2018 Form 10-K. Postretirement benefit income is included in other income on the consolidated statements of comprehensive (loss) income and consisted of the following components: Quarter Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Interest cost $ 682 $ 656 $ 2,046 $ 1,969 Expected return on plan assets (1,740 ) (1,934 ) (5,218 ) (5,802 ) Amortization of prior service credit (355 ) (355 ) (1,066 ) (1,066 ) Amortization of net actuarial losses 806 721 2,417 2,163 Net periodic benefit income $ (607 ) $ (912 ) $ (1,821 ) $ (2,736 )

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Debt outstanding was comprised of the following: (in thousands) September 30, December 31, Amount drawn on revolving credit facility $ 924,000 $ 910,000 Capital lease obligations (1) — 1,864 Long-term debt, principal amount 924,000 911,864 Less current portion of long-term debt — (791 ) Long-term debt 924,000 911,073 Current portion of capital lease obligations (1) — 791 Long-term debt due within one year — 791 Total debt $ 924,000 $ 911,864 (1) Upon adoption of ASU No. 2016-02, Leasing , on January 1, 2019 (Note 2), we reclassified our capital lease obligations, now known as finance lease obligations, to accrued liabilities and other non-current liabilities on the consolidated balance sheet. There are currently no limitations on the amount of dividends and share repurchases under the terms of our credit agreement. However, if our leverage ratio, defined as total debt less unrestricted cash to EBITDA, should exceed 2.75 to 1, there would be an annual limitation on the amount of dividends and share repurchases. As of December 31, 2018, we had a revolving credit facility in the amount of $950,000 . In January 2019, we increased the credit facility by $200,000 , bringing the total availability to $1,150,000 , subject to increase under the credit agreement to an aggregate amount not exceeding $1,425,000 . The credit facility matures in March 2023 . Our quarterly commitment fee ranges from 0.175% to 0.35% , based on our leverage ratio. Amounts drawn under the credit facility had a weighted-average interest rate of 3.29% as of September 30, 2019 and 3.79% as of December 31, 2018 . In July 2019, we executed an interest rate swap to convert $200,000 of the amount drawn under the credit facility to fixed rate debt. Further information can be found in Note 7. Borrowings under the credit agreement are collateralized by substantially all of our personal and intangible property. 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 requires us to maintain certain financial ratios, including a maximum leverage ratio of 3.5 and a minimum ratio of consolidated earnings before interest and taxes to consolidated interest expense, as defined in the credit agreement, of 3.0 . Daily average amounts outstanding under our credit facility were as follows: (in thousands) Nine Months Ended September 30, 2019 Year Ended December 31, 2018 Revolving credit facility: Daily average amount outstanding $ 933,934 $ 731,110 Weighted-average interest rate 3.69 % 3.24 % Term loan facility: (1) Daily average amount outstanding $ — $ 63,638 Weighted-average interest rate — 2.97 % (1) During 2018, we had borrowings outstanding under a variable rate term loan facility. These amounts were repaid in March 2018. As of September 30, 2019 , amounts were available for borrowing under our revolving credit facility as follows: (in thousands) Total available Revolving credit facility commitment $ 1,150,000 Amount drawn on revolving credit facility (924,000 ) Outstanding letters of credit (1) (5,733 ) Net available for borrowing as of September 30, 2019 $ 220,267 (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 revolving credit facility.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases We have entered into operating leases for the majority of our facilities. These real estate leases have remaining terms of up to 10.0 years, with a weighted-average remaining term of 5.5 years as of September 30, 2019 . We utilize leases for these facilities to limit our exposure to risks related to ownership, such as fluctuations in real estate prices, and to maintain flexibility in our real estate utilization. We have also entered into operating leases for certain equipment, primarily production printers and data center equipment. Certain of our leases include options to extend the lease term. The impact of renewal periods was not significant to the amounts recorded for operating lease assets and liabilities. We have entered into finance leases for certain information technology hardware. The net book value of the related lease assets was $1,164 as of September 30, 2019 and the related lease liabilities were $1,545 . The lease obligations are due through December 2022 and do not have a significant impact on our consolidated statements of comprehensive (loss) income or our consolidated statements of cash flows. Operating lease expense was $6,363 for the quarter ended September 30, 2019 and $15,145 for the nine months ended September 30, 2019 . Additional information regarding our operating leases was as follows: (in thousands) Nine Months Ended September 30, 2019 Operating cash outflows $ 12,329 Lease assets obtained during the period in exchange for lease obligations 5,501 September 30, 2019 Operating lease assets $ 41,739 Accrued liabilities 12,840 Operating lease liabilities 32,434 Total operating lease liabilities $ 45,274 Weighted-average remaining lease term (in years) 5.2 Weighted-average discount rate 3.6 % Maturities of operating lease liabilities were as follows: (in thousands) Operating leases Remainder of 2019 $ 3,332 2020 14,626 2021 10,954 2022 7,593 2023 3,731 Thereafter 11,334 Total lease payments 51,570 Less imputed interest (6,296 ) Present value of lease payments $ 45,274

Other commitments and contingen

Other commitments and contingencies	9 Months Ended
	Sep. 30, 2019
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 indemnification provisions generally 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 matters 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 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 that 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 $2,272 as of September 30, 2019 and $2,755 as of December 31, 2018 . These accruals are included in accrued liabilities and other non-current liabilities on 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. Environmental expense was not significant for the quarters or nine months ended September 30, 2019 and 2018 . We maintain an insurance policy that covers up to $10,000 of third-party pollution claims through 2032 at certain owned, leased and divested sites. We also maintain a policy that covers up to $15,000 of third-party pollution claims through April 2022 at certain other sites. These policies cover liability for claims of bodily injury or property damage arising from pollution events at the covered facilities, as well as remediation coverage should we be required by a governing authority to perform remediation activities at the covered sites. 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 2019. 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 $7,596 as of September 30, 2019 and $6,627 as of December 31, 2018 . These accruals are included in accrued liabilities and other non-current liabilities on the consolidated balance sheets. Our workers' compensation liability is recorded at present value. The difference between the discounted and undiscounted liability was not significant as of September 30, 2019 or December 31, 2018 . 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 – Recorded liabilities for legal matters, as well as related charges recorded in each period, were not material to our financial position, results of operations or liquidity during the quarters or nine months ended September 30, 2019 and 2018 , 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 in the period in which the ruling occurs or in future periods.

Shareholders' equity

Shareholders' equity	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Shareholders' equity	Shareholders’ equity In October 2018, our board of directors authorized the repurchase of up to $500,000 of our common stock. This authorization has no expiration date. During the nine months ended September 30, 2019 , we repurchased 2.6 million shares for $118,547 . As of September 30, 2019 , $301,452

Business segment information

Business segment information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Business segment information	Business segment information As of September 30, 2019 , we operated 3 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 currently 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 others; networks of Safeguard distributors and independent dealers; a direct sales force that focuses on selling to and through enterprise accounts; and an outbound telemarketing group. Financial Services' products and services are sold primarily through a direct sales force that executes product and service supply contracts with our financial institution clients, including banks, credit unions and financial services companies. Direct Checks sells products and services directly to consumers using direct marketing, including print advertising and search engine marketing and optimization strategies. All 3 segments operate primarily in the United States. Small Business Services also has operations in Canada, Australia and portions of Europe, and Financial Services has operations in Canada. Our product and service offerings are comprised of the following: Marketing solutions and other services (MOS) – We offer products and services designed to meet our customers' sales and marketing needs, as well as various other service offerings. Our MOS offerings generally consist of the following: • Small business marketing solutions – Our marketing products utilize digital printing and web-to-print solutions to provide printed marketing materials and promotional solutions, such as postcards, brochures, retail packaging supplies, apparel, greeting cards and business cards. • Treasury management solutions – These Financial Services solutions include remote deposit capture, receivables management, payment processing, and paperless treasury management, as well as software, hardware and digital imaging solutions. • Web services – These service offerings include hosting and domain name services, logo and web design, search engine marketing and optimization, email marketing, payroll services and business incorporation and organization services. • Data-driven marketing solutions – These Financial Services offerings include outsourced marketing campaign targeting and execution and marketing analytics solutions that help our customers grow revenue through strategic targeting, lead optimization, retention and cross-selling services. • Fraud, security, risk management and operational services – These service offerings include fraud protection and security services, electronic checks and deposits ("ePayments") and digital engagement solutions, including loyalty and rewards programs and finacial management tools. Checks – We remain one of the largest providers of personal and business checks in the United States. Forms, accessories and other products – 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, as well as computer forms compatible with accounting software packages commonly used by small businesses. Small Business Services also offers other customized products, including envelopes, office supplies, ink stamps and labels. Our Financial Services and Direct Checks segments offer deposit tickets, check registers, checkbook covers, labels and ink stamps. The following tables present revenue disaggregated by our product and service offerings: Quarter Ended September 30, 2019 (in thousands) Small Business Services Financial Services Direct Checks Consolidated Marketing solutions and other services: Small business marketing solutions $ 68,258 $ — $ — $ 68,258 Treasury management solutions — 45,836 — 45,836 Web services 40,906 — — 40,906 Data-driven marketing solutions — 39,889 — 39,889 Fraud, security, risk management and operational services 6,171 12,749 3,144 22,064 Total MOS 115,335 98,474 3,144 216,953 Checks 115,392 53,111 24,330 192,833 Forms, accessories and other products 79,484 3,014 1,309 83,807 Total revenue $ 310,211 $ 154,599 $ 28,783 $ 493,593 Nine Months Ended September 30, 2019 (in thousands) Small Business Services Financial Services Direct Checks Consolidated Marketing solutions and other services: Small business marketing solutions $ 203,192 $ — — $ 203,192 Treasury management solutions — 136,782 — 136,782 Web services 125,856 — — 125,856 Data-driven marketing solutions — 115,469 — 115,469 Fraud, security, risk management and operational services 18,339 37,278 9,899 65,516 Total MOS 347,387 289,529 9,899 646,815 Checks 349,116 165,778 75,587 590,481 Forms, accessories and other products 235,268 9,779 4,302 249,349 Total revenue $ 931,771 $ 465,086 $ 89,788 $ 1,486,645 Quarter Ended September 30, 2018 (in thousands) Small Business Services Financial Services Direct Checks Consolidated Marketing solutions and other services: Small business marketing solutions $ 69,490 $ — $ — $ 69,490 Treasury management solutions — 35,833 — 35,833 Web services 41,973 — — 41,973 Data-driven marketing solutions — 39,808 — 39,808 Fraud, security, risk management and operational services 6,383 12,953 3,460 22,796 Total MOS 117,846 88,594 3,460 209,900 Checks 117,918 54,800 25,874 198,592 Forms, accessories and other products 79,835 3,377 1,486 84,698 Total revenue $ 315,599 $ 146,771 $ 30,820 $ 493,190 Nine Months Ended September 30, 2018 (in thousands) Small Business Services Financial Services Direct Checks Consolidated Marketing solutions and other services: Small business marketing solutions $ 205,694 $ — $ — $ 205,694 Treasury management solutions — 93,591 — 93,591 Web services 120,199 — — 120,199 Data-driven marketing solutions — 114,275 — 114,275 Fraud, security, risk management and operational services 19,487 37,856 10,761 68,104 Total MOS 345,380 245,722 10,761 601,863 Checks 360,637 170,442 81,425 612,504 Forms, accessories and other products 243,638 10,563 4,781 258,982 Total revenue $ 949,655 $ 426,727 $ 96,967 $ 1,473,349 The following tables present our revenue disaggregated by geography, based on where items are shipped or services are performed. (in thousands) Small Business Services Financial Services Direct Checks Total Quarter Ended September 30, 2019: United States $ 286,025 $ 149,575 $ 28,783 $ 464,383 Foreign, primarily Canada and Australia 24,186 5,024 — 29,210 Total revenue $ 310,211 $ 154,599 $ 28,783 $ 493,593 Nine Months Ended September 30, 2019: United States $ 857,759 $ 451,126 $ 89,788 $ 1,398,673 Foreign, primarily Canada and Australia 74,012 13,960 — 87,972 Total revenue $ 931,771 $ 465,086 $ 89,788 $ 1,486,645 (in thousands) Small Business Services Financial Services Direct Checks Total Quarter Ended September 30, 2018: United States $ 290,752 $ 141,979 $ 30,820 $ 463,551 Foreign, primarily Canada and Australia 24,847 4,792 — 29,639 Total revenue $ 315,599 $ 146,771 $ 30,820 $ 493,190 Nine Months Ended September 30, 2018: United States $ 871,574 $ 411,185 $ 96,967 $ 1,379,726 Foreign, primarily Canada and Australia 78,081 15,542 — 93,623 Total revenue $ 949,655 $ 426,727 $ 96,967 $ 1,473,349 The accounting policies of the segments are the same as those described in the Notes to Consolidated Financial Statements included in the 2018 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, real estate, finance, information technology and legal functions. Where costs incurred are directly attributable to a business segment, those costs are charged directly to that segment. Those costs not directly attributable to a business segment, primarily certain human resources costs, are allocated to the segments based on the number of employees in each segment. Corporate assets are not allocated to the segments and consisted primarily of long-term investments and assets related to our corporate shared services functions of manufacturing, information technology and real estate, including property, plant and equipment; internal-use software; operating lease assets; and inventories and supplies. We are an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations and sharing of assets. Therefore, we do not represent that these segments, if operated independently, would report the operating (loss) income and other financial information shown. The following is our segment information as of and for the quarters ended September 30, 2019 and 2018 : Reportable Business Segments (in thousands) Small Business Services Financial Services Direct Checks Corporate Consolidated Total revenue from external customers: 2019 $ 310,211 $ 154,599 $ 28,783 $ — $ 493,593 2018 315,599 146,771 30,820 — 493,190 Operating (loss) income: 2019 (243,193 ) (105,691 ) 8,201 — (340,683 ) 2018 (45,254 ) 17,612 10,360 — (17,282 ) Depreciation and amortization expense: 2019 14,497 15,220 777 — 30,494 2018 17,173 15,424 809 — 33,406 Asset impairment charges: 2019 273,583 117,397 — — 390,980 2018 97,288 1,882 — — 99,170 Total assets: 2019 809,058 560,405 155,487 364,013 1,888,963 2018 1,056,086 753,240 157,806 300,235 2,267,367 Capital asset purchases: 2019 — — — 17,335 17,335 2018 — — — 14,526 14,526 The following is our segment information as of and for the nine months ended September 30, 2019 and 2018: Reportable Business Segments (in thousands) Small Business Services Financial Services Direct Checks Corporate Consolidated Total revenue from external customers: 2019 $ 931,771 $ 465,086 $ 89,788 $ — $ 1,486,645 2018 949,655 426,727 96,967 — 1,473,349 Operating (loss) income: 2019 (163,805 ) (86,134 ) 24,853 — (225,086 ) 2018 72,288 49,565 31,396 — 153,249 Depreciation and amortization expense: 2019 47,730 45,231 2,469 — 95,430 2018 48,765 45,740 2,418 — 96,923 Asset impairment charges: 2019 273,583 117,397 — — 390,980 2018 99,437 1,882 — — 101,319 Total assets: 2019 809,058 560,405 155,487 364,013 1,888,963 2018 1,056,086 753,240 157,806 300,235 2,267,367 Capital asset purchases: 2019 — — — 49,679 49,679 2018 — — — 42,566 42,566

New accounting pronouncements (

New accounting pronouncements (Policies)	9 Months Ended
	Sep. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New accounting pronouncements	New accounting pronouncements ASU No. 2016-02 – In February 2016, the FASB issued ASU No. 2016-02, Leasing . This standard is intended to increase transparency and comparability among organizations by requiring the recognition of lease right-of-use assets and lease liabilities for virtually all leases and by requiring the disclosure of key information about leasing arrangements. In July 2018, the FASB issued two amendments to this standard: ASU No. 2018-10, Codification Improvements to Topic 842, Leases , which amended narrow aspects of the guidance in ASU No. 2016-02, and ASU No. 2018-11, Targeted Improvements, which provided an optional transition method under which comparative periods presented in financial statements in the period of adoption would not be restated. In March 2019, the FASB issued ASU No. 2019-01, Codification Improvements . This standard addressed areas identified as companies prepared to implement ASU No. 2016-02. We adopted all of these standards on January 1, 2019, using a modified retrospective approach and the optional transition method under ASU No. 2018-11. As such, prior periods have not been restated to reflect the new guidance. We elected the practical expedient package outlined in ASU No. 2016-02 under which we did not have to reassess whether an arrangement contains a lease, we carried forward our previous classification of leases as either operating or capital leases, and we did not reassess previously recorded initial direct costs. Additionally, we made the following policy elections: • we excluded leases with original terms of 12 months or less from lease assets and lease liabilities; • we separated nonlease components, such as common area maintenance charges and utilities, from the associated lease component for real estate leases, based on their estimated fair values; and • we used the accounting lease term when determining the incremental borrowing rate for leases with renewal options. Adoption of the standards had a material impact on our consolidated balance sheet, but did not have a significant impact on our consolidated statements of comprehensive loss or our consolidated statement of cash flows. The most significant impact was the recognition of operating lease assets of $50,803 , current operating lease liabilities of $13,611 and non-current operating lease liabilities of $37,440 as of January 1, 2019. Our accounting for finance leases remained substantially unchanged. We determine if an arrangement is a lease at inception by considering whether a contract explicitly or implicitly identifies assets deployed in the arrangement and whether we have obtained substantially all of the economic benefits from the use of the underlying assets and direct how and for what purpose the assets are used during the term of the contract. Operating leases are included in operating lease assets, accrued liabilities and operating lease liabilities on our consolidated balance sheet. Finance leases are included in property, plant and equipment, accrued liabilities and other non-current liabilities on our consolidated balance sheet. Lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As our lease agreements typically do not provide an implicit rate, we use our incremental borrowing rate based on information available at the lease commencement date in determining the present value of lease payments. Certain of our lease agreements include options to extend or terminate the lease. The lease term takes into account these options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is included in total cost of revenue and in selling, general and administrative (SG&A) expense on the consolidated statements of comprehensive (loss) income, and interest on finance leases is included in interest expense on the consolidated statements of comprehensive (loss) income. Operating lease expense is recognized on the straight-line basis over the lease term. Information regarding our leases can be found in Note 14.

Consolidated financial statem_2

Consolidated financial statements (Tables)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impact of revision on prior period financial statements	The impact of the revisions on our consolidated statement of cash flows for the nine months ended September 30, 2018 was as follows: (in thousands) Previously reported Adjustment Revised Purchases of customer funds marketable securities $ — $ (3,981 ) $ (3,981 ) Proceeds from customer funds marketable securities — 3,981 3,981 Net cash used by investing activities (231,924 ) — (231,924 ) Net change in customer funds obligations — (58 ) (58 ) Net cash provided by financing activities 12,621 (58 ) 12,563 Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents (1,188 ) (1,258 ) (2,446 ) Net change in cash, cash equivalents, restricted cash and restricted cash equivalents (1,389 ) (1,316 ) (2,705 ) Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year 59,240 69,579 128,819 Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period $ 57,851 $ 68,263 $ 126,114

Supplemental balance sheet an_2

Supplemental balance sheet and cash flow information (Tables)	9 Months Ended
	Sep. 30, 2019
Supplemental balance sheet and cash flow information [Abstract]
Allowance for uncollectible accounts	Allowance for uncollectible accounts – Changes in the allowance for uncollectible accounts for the nine months ended September 30, 2019 and 2018 were as follows: Nine Months Ended (in thousands) 2019 2018 Balance, beginning of year $ 3,639 $ 2,884 Bad debt expense 3,718 2,275 Write-offs, net of recoveries (2,537 ) (2,036 ) Balance, end of period $ 4,820 $ 3,123
Inventories and supplies	Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) September 30, December 31, Raw materials $ 7,537 $ 7,543 Semi-finished goods 7,396 7,273 Finished goods 23,719 27,608 Supplies 3,542 4,017 Inventories and supplies $ 42,194 $ 46,441
Available-for-sale debt securities	Available-for-sale debt securities – Available-for-sale debt securities included within funds held for customers were comprised of the following: September 30, 2019 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 14,000 $ — $ — $ 14,000 Canadian and provincial government securities 8,856 — (199 ) 8,657 Canadian guaranteed investment certificates 7,552 — — 7,552 Available-for-sale debt securities $ 30,408 $ — $ (199 ) $ 30,209 (1) Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2019 , also included cash of $64,639 . December 31, 2018 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 16,000 $ — $ — $ 16,000 Canadian and provincial government securities 8,485 — (355 ) 8,130 Canadian guaranteed investment certificates 7,333 — — 7,333 Available-for-sale debt securities $ 31,818 $ — $ (355 ) $ 31,463 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2018 , also included cash of $69,519 .
Expected maturities of available-for-sale debt securities	Expected maturities of available-for-sale debt securities as of September 30, 2019 were as follows: (in thousands) Fair value Due in one year or less $ 24,019 Due in two to five years 3,550 Due in six to ten years 2,640 Available-for-sale debt securities $ 30,209
Revenue in excess of billings	Revenue in excess of billings – Revenue in excess of billings was comprised of the following: (in thousands) September 30, December 31, Conditional right to receive consideration $ 16,032 $ 19,705 Unconditional right to receive consideration 9,713 10,753 Revenue in excess of billings $ 25,745 $ 30,458
Intangibles	Intangibles – Intangibles were comprised of the following: September 30, 2019 December 31, 2018 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Amortizable intangibles: Internal-use software $ 417,098 $ (334,336 ) $ 82,762 $ 388,477 $ (308,313 ) $ 80,164 Customer lists/relationships 357,809 (190,993 ) 166,816 379,570 (170,973 ) 208,597 Trade names 32,361 (27,048 ) 5,313 50,645 (26,204 ) 24,441 Technology-based intangibles 34,080 (19,772 ) 14,308 39,300 (14,007 ) 25,293 Software to be sold 36,900 (18,601 ) 18,299 36,900 (15,430 ) 21,470 Other 700 (700 ) — 700 (700 ) — Intangibles $ 878,948 $ (591,450 ) $ 287,498 $ 895,592 $ (535,627 ) $ 359,965
Estimated future amortization expense	Based on the intangibles in service as of September 30, 2019 , estimated future amortization expense is as follows: (in thousands) Estimated amortization expense Remainder of 2019 $ 27,463 2020 89,907 2021 68,423 2022 41,251 2023 26,533
Acquired intangibles	The following intangibles were acquired during the nine months ended September 30, 2019 : (in thousands) Amount Weighted-average amortization period (in years) Internal-use software $ 33,370 3 Customer lists/relationships (1) 11,970 8 Acquired intangibles $ 45,340 5 (1) These asset purchases did not qualify as business combinations.
Goodwill	Goodwill – Changes in goodwill during the nine months ended September 30, 2019 were as follows: (in thousands) Small Business Services Financial Services Direct Checks Total Balance, December 31, 2018: Goodwill, gross $ 765,266 $ 373,421 $ 148,506 $ 1,287,193 Accumulated impairment charges (126,567 ) — — (126,567 ) Goodwill, net of accumulated impairment charges 638,699 373,421 148,506 1,160,626 Impairment charges (Note 8) (242,267 ) (115,474 ) — (357,741 ) Measurement-period adjustments for prior year acquisitions (Note 6) (340 ) (1,427 ) — (1,767 ) Currency translation adjustment (832 ) — — (832 ) Balance, September 30, 2019 $ 395,260 $ 256,520 $ 148,506 $ 800,286 Balance, September 30, 2019: Goodwill, gross 764,094 371,994 148,506 1,284,594 Accumulated impairment charges (368,834 ) (115,474 ) — (484,308 ) Goodwill, net of accumulated impairment charges $ 395,260 $ 256,520 $ 148,506 $ 800,286
Other non-current assets	Other non-current assets – Other non-current assets were comprised of the following: (in thousands) September 30, December 31, Loans and notes receivable from Safeguard distributors $ 67,924 $ 78,693 Prepaid product discounts 51,748 54,642 Postretirement benefit plan asset 45,808 41,259 Deferred sales commissions (1) 10,603 6,482 Deferred advertising costs 4,089 5,746 Other 9,431 9,286 Other non-current assets $ 189,603 $ 196,108 (1) Amortization of deferred sales commissions was $2,246 for the nine months ended September 30, 2019 and $2,033 for the nine months ended September 30, 2018 .
Changes in prepaid product discounts	Changes in prepaid product discounts during the nine months ended September 30, 2019 and 2018 were as follows: Nine Months Ended (in thousands) 2019 2018 Balance, beginning of year $ 54,642 $ 63,895 Additions (1) 15,275 11,695 Amortization (17,861 ) (16,976 ) Other (308 ) (75 ) Balance, end of period $ 51,748 $ 58,539 (1) Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $20,370 for the nine months ended September 30, 2019 and $19,125 for the nine months ended September 30, 2018 .
Accrued liabilities	Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) September 30, December 31, Funds held for customers $ 93,337 $ 99,818 Deferred revenue (1) 39,845 54,313 Employee profit sharing/cash bonus 31,323 31,286 Wages 13,055 6,359 Operating lease liabilities 12,840 — Prepaid product discounts due within one year 11,221 10,926 Customer rebates 9,845 9,555 Restructuring and integration (Note 9) 6,138 3,320 Other 46,655 68,704 Accrued liabilities $ 264,259 $ 284,281 (1) $45,032 of the December 31, 2018 amount was recognized as revenue during the nine months ended September 30, 2019 .
Other non-current liabilities	Other non-current liabilities – Other non-current liabilities were comprised of the following: (in thousands) September 30, December 31, Prepaid product discounts $ 6,860 $ 12,513 Other 28,038 27,367 Other non-current liabilities $ 34,898 $ 39,880
Supplemental cash flow information	Supplemental cash flow information – The reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the consolidated balance sheets was as follows: (in thousands) September 30, September 30, Cash and cash equivalents $ 73,472 $ 57,851 Restricted cash and restricted cash equivalents included in funds held for customers 78,639 68,263 Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 152,111 $ 126,114

(Loss) earnings per share (Tabl

(Loss) earnings per share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
(Loss) earnings per share	The following table reflects the calculation of basic and diluted (loss) earnings per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted (loss) earnings per share because their effect would have been antidilutive. Quarter Ended Nine Months Ended (in thousands, except per share amounts) 2019 2018 2019 2018 (Loss) earnings per share – basic: Net (loss) income $ (318,493 ) $ (31,083 ) $ (244,721 ) $ 92,461 Income allocated to participating securities (24 ) (53 ) (79 ) (396 ) (Loss) income available to common shareholders $ (318,517 ) $ (31,136 ) $ (244,800 ) $ 92,065 Weighted-average shares outstanding 42,533 46,781 43,312 47,340 (Loss) earnings per share – basic $ (7.49 ) $ (0.67 ) $ (5.65 ) $ 1.94 (Loss) earnings per share – diluted: Net (loss) income $ (318,493 ) $ (31,083 ) $ (244,721 ) $ 92,461 Income allocated to participating securities (24 ) (53 ) (79 ) (394 ) Re-measurement of share-based awards classified as liabilities — (98 ) — (274 ) (Loss) income available to common shareholders $ (318,517 ) $ (31,234 ) $ (244,800 ) $ 91,793 Weighted-average shares outstanding 42,533 46,781 43,312 47,340 Dilutive impact of potential common shares — 22 — 178 Weighted-average shares and potential common shares outstanding 42,533 46,803 43,312 47,518 (Loss) earnings per share – diluted $ (7.49 ) $ (0.67 ) $ (5.65 ) $ 1.93 Antidilutive options excluded from calculation 1,422 1,037 1,422 570

Other comprehensive income (Tab

Other comprehensive income (Tables)	9 Months Ended
	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Reclassification adjustments	Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net (loss) income was as follows: Accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affected line item in consolidated statements of comprehensive (loss) income Quarter Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Realized gain on interest rate swap $ 81 $ — $ 81 $ — Interest expense Tax expense (21 ) — (21 ) — Income tax benefit (provision) Realized gain on interest rate swap, net of tax 60 — 60 — Net (loss) income Amortization of postretirement benefit plan items: Prior service credit 355 355 1,066 1,066 Other income Net actuarial loss (806 ) (721 ) (2,417 ) (2,163 ) Other income Total amortization (451 ) (366 ) (1,351 ) (1,097 ) Other income Tax benefit 70 47 209 447 Income tax benefit (provision) Amortization of postretirement benefit plan items, net of tax (381 ) (319 ) (1,142 ) (650 ) Net (loss) income Total reclassifications, net of tax $ (321 ) $ (319 ) $ (1,082 ) $ (650 )
Accumulated other comprehensive loss	Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the nine months ended September 30, 2019 were as follows: (in thousands) Postretirement benefit plans Net unrealized loss on available-for-sale debt securities (1) Net unrealized loss on cash flow hedge (2) Currency translation adjustment Accumulated other comprehensive loss Balance, December 31, 2018 $ (36,529 ) $ (323 ) $ — $ (19,727 ) $ (56,579 ) Other comprehensive income (loss) before reclassifications — 122 (1,790 ) (19 ) (1,687 ) Amounts reclassified from accumulated other comprehensive loss 1,142 — (60 ) — 1,082 Net current-period other comprehensive income (loss) 1,142 122 (1,850 ) (19 ) (605 ) Balance, September 30, 2019 $ (35,387 ) $ (201 ) $ (1,850 ) $ (19,746 ) $ (57,184 ) (1) Other comprehensive income before reclassifications is net of income tax expense of $43 . (2) Other comprehensive loss before reclassifications is net of an income tax benefit of $635 .

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair value measurements	Information regarding the impairment analyses completed during each year was as follows: Fair value measurements using Fair value as of measurement date Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs Impairment charge (in thousands) (Level 1) (Level 2) (Level 3) 2019 analyses: Trade names (Small Business Services) $ 1,834 $ — $ — $ 1,834 $ 14,441 Customer lists (Small Business Services) 4,405 — — 4,405 11,655 Technology-based (Small Business Services) — — — — 5,220 Customer list (Financial Services) — — — — 1,923 Goodwill 357,741 Total impairment charges $ 390,980 2018 analyses: Indefinite-lived trade name (Small Business Services) $ — $ — $ — $ — $ 19,100 Customer list (Small Business Services) — $ — — — 2,149 Customer lists (Financial Services) (1) 4,223 — — 4,223 1,882 Goodwill 78,188 Total impairment charges $ 101,319
Changes in accrued contingent consideration	Changes in accrued contingent consideration during the nine months ended September 30, 2019 were as follows: (in thousands) Nine Months Ended September 30, 2019 Balance, December 31, 2018 $ 2,396 Change in fair value 213 Payments (1,284 ) Balance, September 30, 2019 $ 1,325
Fair value of financial instruments	Information regarding the fair values of our financial instruments was as follows: Fair value measurements using September 30, 2019 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) Measured at fair value through net (loss) income: Accrued contingent consideration $ (1,325 ) $ (1,325 ) $ — $ — $ (1,325 ) Measured at fair value through comprehensive (loss) income: Cash equivalents (funds held for customers) 14,000 14,000 14,000 — — Available-for-sale debt securities (funds held for customers) 16,209 16,209 — 16,209 — Derivative liability (Note 7) (2,506 ) (2,506 ) — (2,506 ) — Amortized cost: Cash 73,472 73,472 73,472 — — Cash (funds held for customers) 64,639 64,639 64,639 — — Loans and notes receivable from Safeguard distributors 71,189 64,506 — — 64,506 Long-term debt 924,000 924,000 — 924,000 — Fair value measurements using December 31, 2018 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) Measured at fair value through net (loss) income: Accrued contingent consideration $ (2,396 ) $ (2,396 ) $ — $ — $ (2,396 ) Measured at fair value through comprehensive (loss) income: Cash equivalents (funds held for customers) 16,000 16,000 16,000 — — Available-for-sale debt securities (funds held for customers) 15,463 15,463 — 15,463 — Amortized cost: Cash 59,740 59,740 59,740 — — Cash (funds held for customers) 69,519 69,519 69,519 — — Loans and notes receivable from Safeguard distributors 81,560 60,795 — — 60,795 Long-term debt (1) 910,000 910,000 — 910,000 — (1) Amounts exclude capital lease obligations.

Restructuring and integration_2

Restructuring and integration expense (Tables)	9 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Components of restructuring and integration expense	Restructuring and integration expense for each period consisted of the following components: Quarter Ended Nine Months Ended (in thousands, except number of employees) 2019 2018 2019 2018 Severance accruals $ 5,124 $ 2,118 $ 10,270 $ 6,766 Severance reversals (91 ) (1,157 ) (476 ) (1,387 ) Operating lease obligations — 291 — 291 Net accruals 5,033 1,252 9,794 5,670 Other costs 22,641 3,852 41,660 8,127 Restructuring and integration expense $ 27,674 $ 5,104 $ 51,454 $ 13,797 Number of employees included in severance accruals 180 75 270 180 Restructuring and integration expense is reflected in the consolidated statements of comprehensive (loss) income as follows: Quarter Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Total cost of revenue $ 1,419 $ (31 ) $ 2,365 $ 882 Operating expenses 26,255 5,135 49,089 12,915 Restructuring and integration expense $ 27,674 $ 5,104 $ 51,454 $ 13,797
Restructuring and integration accruals, initiatives summarized by year	Restructuring accruals, summarized by year, were as follows: (in thousands) 2019 initiatives 2018 initiatives 2017 initiatives Total Balance, December 31, 2018 $ — $ 3,448 $ 13 $ 3,461 Charges 9,919 351 — 10,270 Reversals (155 ) (308 ) (13 ) (476 ) Payments (3,886 ) (2,949 ) — (6,835 ) Adoption of ASU No. 2016-02 (1) — (282 ) — (282 ) Balance, September 30, 2019 $ 5,878 $ 260 $ — $ 6,138 Cumulative amounts: Charges $ 9,919 $ 8,487 $ 7,355 $ 25,761 Reversals (155 ) (1,720 ) (726 ) (2,601 ) Payments (3,886 ) (6,225 ) (6,629 ) (16,740 ) Adoption of ASU No. 2016-02 (1) — (282 ) — (282 ) Balance, September 30, 2019 $ 5,878 $ 260 $ — $ 6,138 (1) Upon adoption of ASU No. 2016-02, Leasing, on January 1, 2019 (Note 2), our operating lease obligations accrual was reversed and the related operating lease asset was analyzed for impairment in accordance with the new guidance.
Restructuring and integration 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 (1) Small Business Services Financial Services Total Balance, December 31, 2018 $ 1,326 $ 1,397 $ — $ 456 $ 282 $ — $ 3,461 Charges 3,309 2,449 168 4,344 — — 10,270 Reversals (140 ) (108 ) (1 ) (227 ) — — (476 ) Payments (1,944 ) (2,570 ) (107 ) (2,214 ) — — (6,835 ) Adoption of ASU No. 2016-02 (2) — — — — (282 ) — (282 ) Balance, September 30, 2019 $ 2,551 $ 1,168 $ 60 $ 2,359 $ — $ — $ 6,138 Cumulative amounts: (3) Charges $ 7,848 $ 8,615 $ 311 $ 8,367 $ 329 $ 291 $ 25,761 Reversals (744 ) (1,315 ) (6 ) (465 ) — (71 ) (2,601 ) Payments (4,553 ) (6,132 ) (245 ) (5,543 ) (47 ) (220 ) (16,740 ) Adoption of ASU No. 2016-02 (2) — — — — (282 ) — (282 ) Balance, September 30, 2019 $ 2,551 $ 1,168 $ 60 $ 2,359 $ — $ — $ 6,138 (1) As discussed in Note 17, corporate costs are allocated to our business segments. As such, the net corporate charges are reflected in the business segment operating (loss) income presented in Note 17 in accordance with our allocation methodology. (2) Upon adoption of ASU No. 2016-02, Leasing, on January 1, 2019 (Note 2), our operating lease obligations accrual was reversed and the related operating lease asset was analyzed for impairment in accordance with the new guidance. (3) Includes accruals related to our integration and cost reduction initiatives for 2017 through 2019.

Income tax beneift (provision)

Income tax beneift (provision) (Tables)	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation	The effective tax rate on pre-tax (loss) income reconciles to the United States federal statutory rate of 21% as follows: Nine Months Ended September 30, 2019 Year Ended December 31, 2018 Income tax at federal statutory rate 21.0 % 21.0 % Goodwill impairment charges (Note 8) (22.0 %) 7.1 % State income tax, net of federal income tax benefit 4.9 % 3.0 % Foreign deferred tax valuation allowance (3.4 %) — Foreign tax rate differences 1.2 % 0.4 % Net tax impact of share-based compensation (0.7 %) (0.8 %) Impact of Tax Cuts and Jobs Act — (0.8 %) Other (0.4 %) (0.3 %) Effective tax rate 0.6 % 29.6 %

Postretirement benefits (Tables

Postretirement benefits (Tables)	9 Months Ended
	Sep. 30, 2019
Defined Benefit Plan [Abstract]
Components of net periodic benefit income	Postretirement benefit income is included in other income on the consolidated statements of comprehensive (loss) income and consisted of the following components: Quarter Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Interest cost $ 682 $ 656 $ 2,046 $ 1,969 Expected return on plan assets (1,740 ) (1,934 ) (5,218 ) (5,802 ) Amortization of prior service credit (355 ) (355 ) (1,066 ) (1,066 ) Amortization of net actuarial losses 806 721 2,417 2,163 Net periodic benefit income $ (607 ) $ (912 ) $ (1,821 ) $ (2,736 )

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt outstanding	Debt outstanding was comprised of the following: (in thousands) September 30, December 31, Amount drawn on revolving credit facility $ 924,000 $ 910,000 Capital lease obligations (1) — 1,864 Long-term debt, principal amount 924,000 911,864 Less current portion of long-term debt — (791 ) Long-term debt 924,000 911,073 Current portion of capital lease obligations (1) — 791 Long-term debt due within one year — 791 Total debt $ 924,000 $ 911,864 (1) Upon adoption of ASU No. 2016-02, Leasing , on January 1, 2019 (Note 2), we reclassified our capital lease obligations, now known as finance lease obligations, to accrued liabilities and other non-current liabilities on the consolidated balance sheet.
Credit facility	Daily average amounts outstanding under our credit facility were as follows: (in thousands) Nine Months Ended September 30, 2019 Year Ended December 31, 2018 Revolving credit facility: Daily average amount outstanding $ 933,934 $ 731,110 Weighted-average interest rate 3.69 % 3.24 % Term loan facility: (1) Daily average amount outstanding $ — $ 63,638 Weighted-average interest rate — 2.97 % (1) During 2018, we had borrowings outstanding under a variable rate term loan facility. These amounts were repaid in March 2018. As of September 30, 2019 , amounts were available for borrowing under our revolving credit facility as follows: (in thousands) Total available Revolving credit facility commitment $ 1,150,000 Amount drawn on revolving credit facility (924,000 ) Outstanding letters of credit (1) (5,733 ) Net available for borrowing as of September 30, 2019 $ 220,267 (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 revolving credit facility.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Operating lease information	Operating lease expense was $6,363 for the quarter ended September 30, 2019 and $15,145 for the nine months ended September 30, 2019 . Additional information regarding our operating leases was as follows: (in thousands) Nine Months Ended September 30, 2019 Operating cash outflows $ 12,329 Lease assets obtained during the period in exchange for lease obligations 5,501 September 30, 2019 Operating lease assets $ 41,739 Accrued liabilities 12,840 Operating lease liabilities 32,434 Total operating lease liabilities $ 45,274 Weighted-average remaining lease term (in years) 5.2 Weighted-average discount rate 3.6 %
Maturities of operating lease liabilities	Maturities of operating lease liabilities were as follows: (in thousands) Operating leases Remainder of 2019 $ 3,332 2020 14,626 2021 10,954 2022 7,593 2023 3,731 Thereafter 11,334 Total lease payments 51,570 Less imputed interest (6,296 ) Present value of lease payments $ 45,274

Business segment information (T

Business segment information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Revenue disaggregated by product and service offerings	The following tables present revenue disaggregated by our product and service offerings: Quarter Ended September 30, 2019 (in thousands) Small Business Services Financial Services Direct Checks Consolidated Marketing solutions and other services: Small business marketing solutions $ 68,258 $ — $ — $ 68,258 Treasury management solutions — 45,836 — 45,836 Web services 40,906 — — 40,906 Data-driven marketing solutions — 39,889 — 39,889 Fraud, security, risk management and operational services 6,171 12,749 3,144 22,064 Total MOS 115,335 98,474 3,144 216,953 Checks 115,392 53,111 24,330 192,833 Forms, accessories and other products 79,484 3,014 1,309 83,807 Total revenue $ 310,211 $ 154,599 $ 28,783 $ 493,593 Nine Months Ended September 30, 2019 (in thousands) Small Business Services Financial Services Direct Checks Consolidated Marketing solutions and other services: Small business marketing solutions $ 203,192 $ — — $ 203,192 Treasury management solutions — 136,782 — 136,782 Web services 125,856 — — 125,856 Data-driven marketing solutions — 115,469 — 115,469 Fraud, security, risk management and operational services 18,339 37,278 9,899 65,516 Total MOS 347,387 289,529 9,899 646,815 Checks 349,116 165,778 75,587 590,481 Forms, accessories and other products 235,268 9,779 4,302 249,349 Total revenue $ 931,771 $ 465,086 $ 89,788 $ 1,486,645 Quarter Ended September 30, 2018 (in thousands) Small Business Services Financial Services Direct Checks Consolidated Marketing solutions and other services: Small business marketing solutions $ 69,490 $ — $ — $ 69,490 Treasury management solutions — 35,833 — 35,833 Web services 41,973 — — 41,973 Data-driven marketing solutions — 39,808 — 39,808 Fraud, security, risk management and operational services 6,383 12,953 3,460 22,796 Total MOS 117,846 88,594 3,460 209,900 Checks 117,918 54,800 25,874 198,592 Forms, accessories and other products 79,835 3,377 1,486 84,698 Total revenue $ 315,599 $ 146,771 $ 30,820 $ 493,190 Nine Months Ended September 30, 2018 (in thousands) Small Business Services Financial Services Direct Checks Consolidated Marketing solutions and other services: Small business marketing solutions $ 205,694 $ — $ — $ 205,694 Treasury management solutions — 93,591 — 93,591 Web services 120,199 — — 120,199 Data-driven marketing solutions — 114,275 — 114,275 Fraud, security, risk management and operational services 19,487 37,856 10,761 68,104 Total MOS 345,380 245,722 10,761 601,863 Checks 360,637 170,442 81,425 612,504 Forms, accessories and other products 243,638 10,563 4,781 258,982 Total revenue $ 949,655 $ 426,727 $ 96,967 $ 1,473,349
Revenue disaggregated by geography	The following tables present our revenue disaggregated by geography, based on where items are shipped or services are performed. (in thousands) Small Business Services Financial Services Direct Checks Total Quarter Ended September 30, 2019: United States $ 286,025 $ 149,575 $ 28,783 $ 464,383 Foreign, primarily Canada and Australia 24,186 5,024 — 29,210 Total revenue $ 310,211 $ 154,599 $ 28,783 $ 493,593 Nine Months Ended September 30, 2019: United States $ 857,759 $ 451,126 $ 89,788 $ 1,398,673 Foreign, primarily Canada and Australia 74,012 13,960 — 87,972 Total revenue $ 931,771 $ 465,086 $ 89,788 $ 1,486,645 (in thousands) Small Business Services Financial Services Direct Checks Total Quarter Ended September 30, 2018: United States $ 290,752 $ 141,979 $ 30,820 $ 463,551 Foreign, primarily Canada and Australia 24,847 4,792 — 29,639 Total revenue $ 315,599 $ 146,771 $ 30,820 $ 493,190 Nine Months Ended September 30, 2018: United States $ 871,574 $ 411,185 $ 96,967 $ 1,379,726 Foreign, primarily Canada and Australia 78,081 15,542 — 93,623 Total revenue $ 949,655 $ 426,727 $ 96,967 $ 1,473,349
Business segment information	The following is our segment information as of and for the quarters ended September 30, 2019 and 2018 : Reportable Business Segments (in thousands) Small Business Services Financial Services Direct Checks Corporate Consolidated Total revenue from external customers: 2019 $ 310,211 $ 154,599 $ 28,783 $ — $ 493,593 2018 315,599 146,771 30,820 — 493,190 Operating (loss) income: 2019 (243,193 ) (105,691 ) 8,201 — (340,683 ) 2018 (45,254 ) 17,612 10,360 — (17,282 ) Depreciation and amortization expense: 2019 14,497 15,220 777 — 30,494 2018 17,173 15,424 809 — 33,406 Asset impairment charges: 2019 273,583 117,397 — — 390,980 2018 97,288 1,882 — — 99,170 Total assets: 2019 809,058 560,405 155,487 364,013 1,888,963 2018 1,056,086 753,240 157,806 300,235 2,267,367 Capital asset purchases: 2019 — — — 17,335 17,335 2018 — — — 14,526 14,526 The following is our segment information as of and for the nine months ended September 30, 2019 and 2018: Reportable Business Segments (in thousands) Small Business Services Financial Services Direct Checks Corporate Consolidated Total revenue from external customers: 2019 $ 931,771 $ 465,086 $ 89,788 $ — $ 1,486,645 2018 949,655 426,727 96,967 — 1,473,349 Operating (loss) income: 2019 (163,805 ) (86,134 ) 24,853 — (225,086 ) 2018 72,288 49,565 31,396 — 153,249 Depreciation and amortization expense: 2019 47,730 45,231 2,469 — 95,430 2018 48,765 45,740 2,418 — 96,923 Asset impairment charges: 2019 273,583 117,397 — — 390,980 2018 99,437 1,882 — — 101,319 Total assets: 2019 809,058 560,405 155,487 364,013 1,888,963 2018 1,056,086 753,240 157,806 300,235 2,267,367 Capital asset purchases: 2019 — — — 49,679 49,679 2018 — — — 42,566 42,566

Consolidated financial statem_3

Consolidated financial statements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Purchases of customer funds marketable securities	$ (3,817)	$ (3,981)
Proceeds from customer funds marketable securities	3,817	3,981
Net cash used by investing activities	(49,879)	(231,924)
Net change in customer funds obligations	(8,711)	(58)
Net cash provided by financing activities	(153,897)	12,563
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents	2,604	(2,446)
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents	6,852	(2,705)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year	145,259	128,819
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	$ 152,111	126,114
Previously reported [Member]
Purchases of customer funds marketable securities		0
Proceeds from customer funds marketable securities		0
Net cash used by investing activities		(231,924)
Net change in customer funds obligations		0
Net cash provided by financing activities		12,621
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents		(1,188)
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents		(1,389)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year		59,240
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period		57,851
Adjustment [Member]
Purchases of customer funds marketable securities		(3,981)
Proceeds from customer funds marketable securities		3,981
Net cash used by investing activities		0
Net change in customer funds obligations		(58)
Net cash provided by financing activities		(58)
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents		(1,258)
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents		(1,316)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year		69,579
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period		$ 68,263

New accounting pronouncements_2

New accounting pronouncements (Details) - Accounting Standards Update No. 2016-02 [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Jan. 01, 2019
New accounting pronouncements [Line Items]
Leases, practical expedient, short-term leases	true
Operating lease assets [Member]
New accounting pronouncements [Line Items]
New accounting pronouncement, cumulative effect of adoption		$ 50,803
Operating lease liabilities, current [Member]
New accounting pronouncements [Line Items]
New accounting pronouncement, cumulative effect of adoption		13,611
Operating lease liabilities, non-current [Member]
New accounting pronouncements [Line Items]
New accounting pronouncement, cumulative effect of adoption		$ 37,440

Supplemental balance sheet an_3

Supplemental balance sheet and cash flow information (allowances for uncollectible accounts, inventories and supplies) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Allowances for uncollectible accounts
Balance, beginning of year	$ 3,639	$ 2,884
Bad debt expense	3,718	2,275
Write-offs, net of recoveries	(2,537)	(2,036)
Balance, end of period	4,820	$ 3,123
Inventories and supplies
Raw materials	7,537		$ 7,543
Semi-finished goods	7,396		7,273
Finished goods	23,719		27,608
Supplies	3,542		4,017
Inventories and supplies	$ 42,194		$ 46,441

Supplemental balance sheet an_4

Supplemental balance sheet and cash flow information (available-for-sale debt securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2019		Dec. 31, 2018
Available-for-sale debt securities [Line Items]
Cost	$ 30,408		$ 31,818
Gross unrealized gains	0		0
Gross unrealized losses	(199)		(355)
Fair value	30,209		31,463
Cash	73,472		59,740
Expected maturities of available-for-sale debt securities
Due in one year or less	24,019
Due in two to five years	3,550
Due in six to ten years	2,640
Fair value	30,209		31,463
Funds held for customers [Member]
Available-for-sale debt securities [Line Items]
Cost	30,408	[1]	31,818	[2]
Gross unrealized gains	0	[1]	0	[2]
Gross unrealized losses	(199)	[1]	(355)	[2]
Fair value	30,209	[1]	31,463	[2]
Cash	64,639		69,519
Expected maturities of available-for-sale debt securities
Fair value	30,209	[1]	31,463	[2]
Funds held for customers [Member] | Money market securities [Member] | Domestic [Member]
Available-for-sale debt securities [Line Items]
Cost	14,000		16,000
Gross unrealized gains	0		0
Gross unrealized losses	0		0
Fair value	14,000		16,000
Expected maturities of available-for-sale debt securities
Fair value	14,000		16,000
Funds held for customers [Member] | Canadian and provincial government securities [Member]
Available-for-sale debt securities [Line Items]
Cost			8,485
Gross unrealized gains	0		0
Gross unrealized losses	(199)		(355)
Fair value	8,657		8,130
Expected maturities of available-for-sale debt securities
Fair value	8,657		8,130
Funds held for customers [Member] | Canadian and provincial government securities [Member] | Domestic [Member]
Available-for-sale debt securities [Line Items]
Cost	8,856
Funds held for customers [Member] | Canadian guaranteed investment certificates [Member]
Available-for-sale debt securities [Line Items]
Cost	7,552		7,333
Gross unrealized gains	0		0
Gross unrealized losses	0		0
Fair value	7,552		7,333
Expected maturities of available-for-sale debt securities
Fair value	$ 7,552		$ 7,333
[1]	Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2019 , also included cash of $64,639 .
[2]	Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2018 , also included cash of $69,519 .

Supplemental balance sheet an_5

Supplemental balance sheet and cash flow information (revenue in excees of billings, assets held for sale) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018USD ($)disposal_groups	Sep. 30, 2019USD ($)disposal_groups	Sep. 30, 2018USD ($)disposal_groups	Dec. 31, 2018USD ($)disposal_groups
Revenue in excess of billings
Conditional right to receive consideration		$ 16,032		$ 19,705
Unconditional right to receive consideration		9,713		10,753
Revenue in excess of billings		25,745		$ 30,458
Assets held for sale [Line Items]
Net (loss) gain on sales of businesses and customer lists	$ 1,765	$ (224)	$ 12,855
Provider of printed and promotional products [Member]
Assets held for sale [Line Items]
Number of businesses sold | disposal_groups	1		2
Small business distributors [Member]
Assets held for sale [Line Items]
Number of businesses sold | disposal_groups			1
Customer lists/relationships [Member]
Assets held for sale [Line Items]
Number of assets held for sale | disposal_groups		1		1
Assets held for sale		$ 1,350		$ 1,350

Supplemental balance sheet an_6

Supplemental balance sheet and cash flow information (intangibles) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Amortizable intangibles [Line Items]
Gross carrying amount		$ 878,948		$ 878,948		$ 895,592
Accumulated amortization		(591,450)		(591,450)		(535,627)
Net carrying amount		287,498		287,498		359,965
Amortization of intangibles		26,736	$ 28,505	83,224	$ 84,199
Estimated future amortization expense
Remainder of 2019		27,463		27,463
2020		89,907		89,907
2021		68,423		68,423
2022		41,251		41,251
2023		26,533		26,533
Asset purchase [Member]
Amortizable intangibles [Line Items]
Acquired intangibles				$ 45,340
Acquired intangibles, weighted-average amortization period (in years)				5 years
Internal-use software [Member]
Amortizable intangibles [Line Items]
Gross carrying amount		417,098		$ 417,098		388,477
Accumulated amortization		(334,336)		(334,336)		(308,313)
Net carrying amount		82,762		82,762		80,164
Internal-use software [Member] | Asset purchase [Member]
Amortizable intangibles [Line Items]
Acquired intangibles				$ 33,370
Acquired intangibles, weighted-average amortization period (in years)				3 years
Customer lists/relationships [Member]
Amortizable intangibles [Line Items]
Gross carrying amount		357,809		$ 357,809		379,570
Accumulated amortization		(190,993)		(190,993)		(170,973)
Net carrying amount		166,816		166,816		208,597
Customer lists/relationships [Member] | Asset purchase [Member]
Amortizable intangibles [Line Items]
Acquired intangibles	[1]			$ 11,970
Acquired intangibles, weighted-average amortization period (in years)	[1]			8 years
Trade names [Member]
Amortizable intangibles [Line Items]
Gross carrying amount		32,361		$ 32,361		50,645
Accumulated amortization		(27,048)		(27,048)		(26,204)
Net carrying amount		5,313		5,313		24,441
Technology-based intangibles [Member]
Amortizable intangibles [Line Items]
Gross carrying amount		34,080		34,080		39,300
Accumulated amortization		(19,772)		(19,772)		(14,007)
Net carrying amount		14,308		14,308		25,293
Software to be sold [Member]
Amortizable intangibles [Line Items]
Gross carrying amount		36,900		36,900		36,900
Accumulated amortization		(18,601)		(18,601)		(15,430)
Net carrying amount		18,299		18,299		21,470
Other [Member]
Amortizable intangibles [Line Items]
Gross carrying amount		700		700		700
Accumulated amortization		(700)		(700)		(700)
Net carrying amount		$ 0		$ 0		$ 0
[1]	These asset purchases did not qualify as business combinations.

Supplemental balance sheet an_7

Supplemental balance sheet and cash flow information (goodwill) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	$ 1,287,193
Accumulated impairment charges, beginning of year	(126,567)
Goodwill, net of accumulated impairment charges, beginning of year	1,160,626
Impairment charges (Note 8)	(357,741)	$ (78,188)
Currency translation adjustment	(832)
Goodwill, gross, end of period	1,284,594
Accumulated impairment charges, end of period	(484,308)
Goodwill, net of accumulated impairment charges, end of period	800,286
2018 acquisitions [Member]
Goodwill [Roll Forward]
Measurement-period adjustments for prior year acquisitions (Note 6)	(1,767)
Reportable business segments [Member] | Small Business Services [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	765,266
Accumulated impairment charges, beginning of year	(126,567)
Goodwill, net of accumulated impairment charges, beginning of year	638,699
Impairment charges (Note 8)	(242,267)
Currency translation adjustment	(832)
Goodwill, gross, end of period	764,094
Accumulated impairment charges, end of period	(368,834)
Goodwill, net of accumulated impairment charges, end of period	395,260
Reportable business segments [Member] | Small Business Services [Member] | 2018 acquisitions [Member]
Goodwill [Roll Forward]
Measurement-period adjustments for prior year acquisitions (Note 6)	(340)
Reportable business segments [Member] | Financial Services [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	373,421
Accumulated impairment charges, beginning of year	0
Goodwill, net of accumulated impairment charges, beginning of year	373,421
Impairment charges (Note 8)	(115,474)
Goodwill, gross, end of period	371,994
Accumulated impairment charges, end of period	(115,474)
Goodwill, net of accumulated impairment charges, end of period	256,520
Reportable business segments [Member] | Financial Services [Member] | 2018 acquisitions [Member]
Goodwill [Roll Forward]
Measurement-period adjustments for prior year acquisitions (Note 6)	(1,427)
Reportable business segments [Member] | 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
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 an_8

Supplemental balance sheet and cash flow information (other non-current assets, accrued liabilities, other non-current liabilities) (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Dec. 31, 2018
Other non-current assets
Loans and notes receivable from Safeguard distributors				$ 67,924	$ 78,693
Prepaid product discounts		$ 54,642	$ 63,895	51,748	54,642
Postretirement benefit plan asset				45,808	41,259
Deferred sales commissions	[1]			10,603	6,482
Deferred advertising costs				4,089	5,746
Other				9,431	9,286
Other non-current assets				189,603	196,108
Amortization of deferred sales commissions		2,246	2,033
Prepaid product discounts [Roll Forward]
Balance, beginning of year		54,642	63,895
Additions	[2]	15,275	11,695
Amortization		(17,861)	(16,976)
Other		(308)	(75)
Balance, end of period		51,748	58,539
Prepaid product discount payments		20,370	$ 19,125
Accrued liabilities
Funds held for customers				93,337	99,818
Deferred revenue	[3]			39,845	54,313
Employee profit sharing/cash bonus				31,323	31,286
Wages				13,055	6,359
Operating lease liabilities				12,840	0
Prepaid product discounts due within one year				11,221	10,926
Customer rebates				9,845	9,555
Restructuring and integration (Note 9)				6,138	3,320
Other				46,655	68,704
Accrued liabilities				264,259	284,281
Deferred revenue recognized		$ 45,032
Other non-current liabilities
Prepaid product discounts				6,860	12,513
Other				28,038	27,367
Other non-current liabilities				$ 34,898	$ 39,880
[1]	Amortization of deferred sales commissions was $2,246 for the nine months ended September 30, 2019 and $2,033 for the nine months ended September 30, 2018 .
[2]	Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $20,370 for the nine months ended September 30, 2019 and $19,125 for the nine months ended September 30, 2018 .
[3]	$45,032 of the December 31, 2018 amount was recognized as revenue during the nine months ended September 30, 2019 .

Supplemental balance sheet an_9

Supplemental balance sheet and cash flow information (supplemental cash flow information) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Cash and cash equivalents	$ 73,472	$ 59,740	$ 57,851
Total cash, cash equivalents, restricted cash and restricted cash equivalents	152,111	$ 145,259	126,114	$ 128,819
Funds held for customers [Member]
Restricted cash and restricted cash equivalents included in funds held for customers	$ 78,639		$ 68,263

(Loss) earnings per share (Deta

(Loss) earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
(Loss) earnings per share - basic:
Net (loss) income	$ (318,493)	$ (31,083)	$ (244,721)	$ 92,461
Income allocated to participating securities	(24)	(53)	(79)	(396)
(Loss) income available to common shareholders	$ (318,517)	$ (31,136)	$ (244,800)	$ 92,065
Weighted-average shares outstanding	42,533	46,781	43,312	47,340
(Loss) earnings per share - basic	$ (7.49)	$ (0.67)	$ (5.65)	$ 1.94
(Loss) earnings per share - diluted:
Net (loss) income	$ (318,493)	$ (31,083)	$ (244,721)	$ 92,461
Income allocated to participating securities	(24)	(53)	(79)	(394)
Re-measurement of share-based awards classified as liabilities	0	(98)	0	(274)
(Loss) income available to common shareholders	$ (318,517)	$ (31,234)	$ (244,800)	$ 91,793
Weighted-average shares outstanding	42,533	46,781	43,312	47,340
Dilutive impact of potential common shares	0	22	0	178
Weighted-average shares and potential common shares outstanding	42,533	46,803	43,312	47,518
(Loss) earnings per share - diluted	$ (7.49)	$ (0.67)	$ (5.65)	$ 1.93
Antidilutive options excluded from calculation	1,422	1,037	1,422	570

Other comprehensive income (rec

Other comprehensive income (reclassification adjustments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reclassification adjustments [Line Items]
Total reclassifications, net of tax	$ (321)	$ (319)	$ (1,082)	$ (650)
Prior service credit [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	355	355	1,066	1,066
Net actuarial loss [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	(806)	(721)	(2,417)	(2,163)
Postretirement benefit plans [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	(451)	(366)	(1,351)	(1,097)
Tax benefit	70	47	209	447
Total reclassifications, net of tax	(381)	(319)	(1,142)	(650)
Realized gain on interest rate swap [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	81	0	81	0
Tax benefit	(21)	0	(21)	0
Total reclassifications, net of tax	$ 60	$ 0	$ 60	$ 0

Other comprehensive income (acc

Other comprehensive income (accumulated other comprehensive loss) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year		$ 894,149	$ 1,075,136	$ 915,413	$ 1,015,013
Amounts reclassified from accumulated other comprehensive loss		321	319	1,082	650
Net current-period other comprehensive income (loss)				(605)
Balance, end of period		525,527	955,295	525,527	955,295
Postretirement benefit plans [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year				(36,529)
Other comprehensive income (loss) before reclassifications				0
Amounts reclassified from accumulated other comprehensive loss		381	319	1,142	650
Net current-period other comprehensive income (loss)				1,142
Balance, end of period		(35,387)		(35,387)
Net unrealized loss on available-for-sale debt securities [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year				(323)
Other comprehensive income (loss) before reclassifications	[1]			122
Amounts reclassified from accumulated other comprehensive loss				0
Net current-period other comprehensive income (loss)				122
Balance, end of period		(201)		(201)
Unrealized gain on securities arising during the period, tax				43
Net unrealized loss on cash flow hedge [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year				0
Other comprehensive income (loss) before reclassifications	[2]			(1,790)
Amounts reclassified from accumulated other comprehensive loss		(60)	0	(60)	0
Net current-period other comprehensive income (loss)				(1,850)
Balance, end of period		(1,850)		(1,850)
Unrealized loss on cash flow hedge arising during the period, tax				(635)
Currency translation adjustment [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year				(19,727)
Other comprehensive income (loss) before reclassifications				(19)
Amounts reclassified from accumulated other comprehensive loss				0
Net current-period other comprehensive income (loss)				(19)
Balance, end of period		(19,746)		(19,746)
Accumulated other comprehensive loss [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year		(53,527)	(49,170)	(56,579)	(37,597)
Other comprehensive income (loss) before reclassifications				(1,687)
Amounts reclassified from accumulated other comprehensive loss				1,082
Balance, end of period		$ (57,184)	$ (48,989)	$ (57,184)	$ (48,989)
[1]	Other comprehensive income before reclassifications is net of income tax expense of $43 .
[2]	Other comprehensive loss before reclassifications is net of an income tax benefit of $635 .

Acquisitions (Details)

Acquisitions (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)business
Acquisitions [Line Items]
Holdback payments for prior year acquisitions	$ 1,598	$ 20,385
Payments for acquisitions, net of cash acquired	1,598	$ 190,396
Small business distributors [Member]
Acquisitions [Line Items]
Number of businesses acquired | business		3
2018 acquisitions [Member]
Acquisitions [Line Items]
Payments for acquisitions, net of cash acquired		$ 170,011
Measurement-period adjustments, goodwill	(1,767)
2018 acquisitions [Member] | Customer lists/relationships [Member]
Acquisitions [Line Items]
Measurement-period adjustments, customer list	$ 1,000

Derivative financial instrume_2

Derivative financial instruments (Details) - Interest rate swap [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Jul. 19, 2019
Derivative [Line Items]
Derivative notional amount		$ 200,000
Derivative fixed interest rate		1.798%
Fair value of derivative liability	$ 2,506

Fair value measurements (annual

Fair value measurements (annual impairment and non-recurring impairment analyses) (Details) $ in Thousands

3 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2019USD ($)

Sep. 30, 2018USD ($)

Mar. 31, 2018USD ($)

Sep. 30, 2019USD ($)reporting_units

Sep. 30, 2018USD ($)business

Dec. 31, 2015business

Jul. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Jul. 31, 2018USD ($)

Jul. 31, 2017USD ($)

Annual impairment and non-recurring fair value measurements [Line Items]

Goodwill impairment charges

$ 357,741

$ 78,188

Goodwill

$ 800,286

800,286

$ 1,160,626

Total impairment charge

390,980

$ 99,170

$ 390,980

$ 101,319

Small business distributors [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Number of businesses acquired | business

3

Reporting units for which qualitative analysis completed [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Number of reporting units | reporting_units

4

Reporting units for which qualitative analysis completed [Member] | Minimum [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Amount of fair value in excess of carrying value

$ 64,000

Percentage of fair value in excess of carrying value

50.00%

Reporting units for which qualitative analysis completed [Member] | Maximum [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Amount of fair value in excess of carrying value

$ 1,405,000

Percentage of fair value in excess of carrying value

314.00%

Reporting units for which quantitative analysis completed [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Number of reporting units | reporting_units

2

Financial Services Data-Driven Marketing [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Goodwill impairment charges

115,474

Goodwill

70,914

$ 70,914

Small Business Services Web Services [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Goodwill impairment charges

242,267

Small Business Services Indirect [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Goodwill impairment charges

78,188

Reportable business segments [Member] | Financial Services [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Goodwill impairment charges

115,474

Goodwill

256,520

256,520

373,421

Total impairment charge

117,397

1,882

117,397

$ 1,882

Reportable business segments [Member] | Financial Services [Member] | Small business distributors [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Number of businesses acquired | business

2

Reportable business segments [Member] | Financial Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Asset impairment charges

1,882

Reportable business segments [Member] | Small Business Services [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Goodwill impairment charges

242,267

Goodwill

395,260

395,260

$ 638,699

Total impairment charge

273,583

97,288

273,583

99,437

Reportable business segments [Member] | Small Business Services [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Asset impairment charges

14,441

Reportable business segments [Member] | Small Business Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Asset impairment charges

11,655

Reportable business segments [Member] | Small Business Services [Member] | Technology-based intangibles [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Asset impairment charges

5,220

Non-recurring fair value measurement [Member] | Small Business Services Web Services [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Asset impairment charges

$ 31,316

Non-recurring fair value measurement [Member] | Small Business Services Indirect [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Asset impairment charges

19,100

Non-recurring fair value measurement [Member] | Reportable business segments [Member] | Financial Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Asset impairment charges

1,882

$ 1,923

Estimated fair value, intangibles

4,223

[1]

4,223

[1]

$ 0

Non-recurring fair value measurement [Member] | Reportable business segments [Member] | Small Business Services [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Asset impairment charges

19,100

Estimated fair value, intangibles

$ 0

Non-recurring fair value measurement [Member] | Reportable business segments [Member] | Small Business Services [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

1,834

Non-recurring fair value measurement [Member] | Reportable business segments [Member] | Small Business Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Asset impairment charges

$ 2,149

2,149

Estimated fair value, intangibles

0

4,405

Non-recurring fair value measurement [Member] | Reportable business segments [Member] | Small Business Services [Member] | Technology-based intangibles [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

0

Non-recurring fair value measurement [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Reportable business segments [Member] | Financial Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

0

[1]

0

[1]

0

Non-recurring fair value measurement [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Reportable business segments [Member] | Small Business Services [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

0

Non-recurring fair value measurement [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Reportable business segments [Member] | Small Business Services [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

0

Non-recurring fair value measurement [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Reportable business segments [Member] | Small Business Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

0

0

Non-recurring fair value measurement [Member] | Significant other observable inputs (Level 2) [Member] | Reportable business segments [Member] | Financial Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

0

[1]

0

[1]

0

Non-recurring fair value measurement [Member] | Significant other observable inputs (Level 2) [Member] | Reportable business segments [Member] | Small Business Services [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

0

Non-recurring fair value measurement [Member] | Significant other observable inputs (Level 2) [Member] | Reportable business segments [Member] | Small Business Services [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

0

Non-recurring fair value measurement [Member] | Significant other observable inputs (Level 2) [Member] | Reportable business segments [Member] | Small Business Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

0

0

Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Reportable business segments [Member] | Financial Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

$ 4,223

[1]

$ 4,223

[1]

0

Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Reportable business segments [Member] | Small Business Services [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

$ 0

Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Reportable business segments [Member] | Small Business Services [Member] | Trade names [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

1,834

Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Reportable business segments [Member] | Small Business Services [Member] | Customer lists/relationships [Member]

Annual impairment and non-recurring fair value measurements [Line Items]

Estimated fair value, intangibles

$ 0

$ 4,405

[1]

The fair value presented is for the entire asset group that includes the impaired customer lists.

Fair value measurements (recurr

Fair value measurements (recurring fair value measurements) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Funds held for customers [Member] | Canadian guaranteed investment certificates [Member]
Recurring fair value measurements [Line Items]
Maximum maturity period, debt securities	1 year
Recurring fair value measurements [Member] | Accrued contingent consideration [Member]
Change in accrued contingent consideration
Balance, beginning of year	$ 2,396
Change in fair value	213
Payments	(1,284)
Balance, end of period	$ 1,325

Fair value measurements (financ

Fair value measurements (financial instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2019		Dec. 31, 2018
Fair value measurements, financial instruments [Line Items]
Accrued contingent consideration	$ (1,325)		$ (2,396)
Available-for-sale debt securities (funds held for customers)	30,209		31,463
Derivative liability (Note 7)	(2,506)
Cash	73,472		59,740
Cash, fair value	73,472		59,740
Loans and notes receivable from Safeguard distributors	71,189		81,560
Loans and notes receivable from Safeguard distributors, fair value	64,506		60,795
Long-term debt	924,000		910,000	[1]
Long-term debt, fair value	924,000		910,000	[1]
Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Accrued contingent consideration	(1,325)		(2,396)
Derivative liability (Note 7)	(2,506)
Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements, financial instruments [Line Items]
Cash, fair value	73,472		59,740
Loans and notes receivable from Safeguard distributors, fair value	0		0
Long-term debt, fair value	0		0	[1]
Quoted prices in active markets for identical assets (Level 1) [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Accrued contingent consideration	0		0
Derivative liability (Note 7)	0
Significant other observable inputs (Level 2) [Member]
Fair value measurements, financial instruments [Line Items]
Cash, fair value	0		0
Loans and notes receivable from Safeguard distributors, fair value	0		0
Long-term debt, fair value	924,000		910,000	[1]
Significant other observable inputs (Level 2) [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Accrued contingent consideration	0		0
Derivative liability (Note 7)	(2,506)
Significant unobservable inputs (Level 3) [Member]
Fair value measurements, financial instruments [Line Items]
Cash, fair value	0		0
Loans and notes receivable from Safeguard distributors, fair value	64,506		60,795
Long-term debt, fair value	0		0	[1]
Significant unobservable inputs (Level 3) [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Accrued contingent consideration	(1,325)		(2,396)
Derivative liability (Note 7)	0
Funds held for customers [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	30,209	[2]	31,463	[3]
Cash	64,639		69,519
Cash, fair value	64,639		69,519
Funds held for customers [Member] | Money market securities [Member]
Fair value measurements, financial instruments [Line Items]
Cash equivalents (funds held for customers)	14,000		16,000
Funds held for customers [Member] | Foreign debt securities [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	16,209		15,463
Funds held for customers [Member] | Recurring fair value measurements [Member] | Money market securities [Member]
Fair value measurements, financial instruments [Line Items]
Cash equivalents (funds held for customers)	14,000		16,000
Funds held for customers [Member] | Recurring fair value measurements [Member] | Foreign debt securities [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	16,209		15,463
Funds held for customers [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements, financial instruments [Line Items]
Cash, fair value	64,639		69,519
Funds held for customers [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Recurring fair value measurements [Member] | Money market securities [Member]
Fair value measurements, financial instruments [Line Items]
Cash equivalents (funds held for customers)	14,000		16,000
Funds held for customers [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Recurring fair value measurements [Member] | Foreign debt securities [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	0		0
Funds held for customers [Member] | Significant other observable inputs (Level 2) [Member]
Fair value measurements, financial instruments [Line Items]
Cash, fair value	0		0
Funds held for customers [Member] | Significant other observable inputs (Level 2) [Member] | Recurring fair value measurements [Member] | Money market securities [Member]
Fair value measurements, financial instruments [Line Items]
Cash equivalents (funds held for customers)	0		0
Funds held for customers [Member] | Significant other observable inputs (Level 2) [Member] | Recurring fair value measurements [Member] | Foreign debt securities [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	16,209		15,463
Funds held for customers [Member] | Significant unobservable inputs (Level 3) [Member]
Fair value measurements, financial instruments [Line Items]
Cash, fair value	0		0
Funds held for customers [Member] | Significant unobservable inputs (Level 3) [Member] | Recurring fair value measurements [Member] | Money market securities [Member]
Fair value measurements, financial instruments [Line Items]
Cash equivalents (funds held for customers)	0		0
Funds held for customers [Member] | Significant unobservable inputs (Level 3) [Member] | Recurring fair value measurements [Member] | Foreign debt securities [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	$ 0		$ 0
[1]	Amounts exclude capital lease obligations.
[2]	Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2019 , also included cash of $64,639 .
[3]	Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2018 , also included cash of $69,519 .

Restructuring and integration_3

Restructuring and integration expense (Details) $ in Thousands	3 Months Ended		9 Months Ended		33 Months Ended
	Sep. 30, 2019USD ($)Employees	Sep. 30, 2018USD ($)Employees	Sep. 30, 2019USD ($)Employees	Sep. 30, 2018USD ($)Employees	Sep. 30, 2019USD ($)Employees		Dec. 31, 2018USD ($)
Restructuring and integration expense [Line Items]
Restructuring and integration expense	$ 27,674	$ 5,104	$ 51,454	$ 13,797
Number of employees in severance accruals | Employees	180	75	270	180
Other disclosures
Restructuring accruals	$ 6,138		$ 6,138		$ 6,138		$ 3,461
Number of employees that have not started to receive severance benefits | Employees	130		130		130
Accrued liabilities [Member]
Other disclosures
Restructuring accruals							3,320
Other non-current liabilities [Member]
Other disclosures
Restructuring accruals							141
Total cost of revenue [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	$ 1,419	$ (31)	$ 2,365	$ 882
Operating expenses [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	26,255	5,135	49,089	12,915
Severance [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	5,124	2,118	10,270	6,766
Reversals	(91)	(1,157)	(476)	(1,387)
Operating lease obligations [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	0	291	0	291
Employee severance and operating lease obligations [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense			10,270		$ 25,761	[1]
Reversals			(476)		(2,601)	[1]
Net accruals	5,033	1,252	9,794	5,670
Other disclosures
Restructuring accruals	6,138		6,138		$ 6,138		$ 3,461
Other costs [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	$ 22,641	$ 3,852	$ 41,660	$ 8,127
[1]	Includes accruals related to our integration and cost reduction initiatives for 2017 through 2019.

Restructuring and integration_4

Restructuring and integration expense (restructuring accruals by year and by segment) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		21 Months Ended	33 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2019		Jan. 01, 2019
Restructuring and integration expense [Line Items]
Balance, beginning of year				$ 3,461
Charges		$ 27,674	$ 5,104	51,454	$ 13,797
Balance, end of period		6,138		6,138		$ 6,138	$ 6,138
Employee severance benefits [Member]
Restructuring and integration expense [Line Items]
Charges		5,124	2,118	10,270	6,766
Reversals		(91)	(1,157)	(476)	(1,387)
Employee severance benefits [Member] | 2019 initiatives [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year				0
Charges				9,919
Reversals				(155)
Payments				(3,886)
Balance, end of period		5,878		5,878		5,878	5,878
Employee severance benefits [Member] | Reportable business segments [Member] | Small Business Services [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year				1,326
Charges				3,309			7,848	[1]
Reversals				(140)			(744)	[1]
Payments				(1,944)			(4,553)	[1]
Balance, end of period		2,551		2,551		2,551	2,551
Employee severance benefits [Member] | Reportable business segments [Member] | Financial Services [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year				1,397
Charges				2,449			8,615	[1]
Reversals				(108)			(1,315)	[1]
Payments				(2,570)			(6,132)	[1]
Balance, end of period		1,168		1,168		1,168	1,168
Employee severance benefits [Member] | Reportable business segments [Member] | Direct Checks [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year				0
Charges				168			311	[1]
Reversals				(1)			(6)	[1]
Payments				(107)			(245)	[1]
Balance, end of period		60		60		60	60
Employee severance benefits [Member] | Corporate [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year	[2]			456
Charges	[2]			4,344			8,367	[1]
Reversals	[2]			(227)			(465)	[1]
Payments	[2]			(2,214)			(5,543)	[1]
Balance, end of period	[2]	2,359		2,359		2,359	2,359
Operating lease obligations [Member]
Restructuring and integration expense [Line Items]
Charges		0	$ 291	0	$ 291
Operating lease obligations [Member] | Accounting Standards Update No. 2016-02 [Member]
Restructuring and integration expense [Line Items]
Adoption of ASU No. 2016-02	[1],[3]								$ (282)
Operating lease obligations [Member] | 2018 initiatives [Member] | Accounting Standards Update No. 2016-02 [Member]
Restructuring and integration expense [Line Items]
Adoption of ASU No. 2016-02	[3]								(282)
Operating lease obligations [Member] | Reportable business segments [Member] | Small Business Services [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year				282
Charges				0			329	[1]
Reversals				0			0	[1]
Payments				0			(47)	[1]
Balance, end of period		0		0		0	0
Operating lease obligations [Member] | Reportable business segments [Member] | Small Business Services [Member] | Accounting Standards Update No. 2016-02 [Member]
Restructuring and integration expense [Line Items]
Adoption of ASU No. 2016-02	[1],[3]								$ (282)
Operating lease obligations [Member] | Reportable business segments [Member] | Financial Services [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year				0
Charges				0			291	[1]
Reversals				0			(71)	[1]
Payments				0			(220)	[1]
Balance, end of period		0		0		0	0
Employee severance and operating lease obligations [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year				3,461
Charges				10,270			25,761	[1]
Reversals				(476)			(2,601)	[1]
Payments				(6,835)			(16,740)	[1]
Balance, end of period		6,138		6,138		6,138	6,138
Employee severance and operating lease obligations [Member] | 2018 initiatives [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year				3,448
Charges				351		8,487
Reversals				(308)		(1,720)
Payments				(2,949)		(6,225)
Balance, end of period		260		260		260	260
Employee severance and operating lease obligations [Member] | 2017 initiatives [Member]
Restructuring and integration expense [Line Items]
Balance, beginning of year				13
Charges				0			7,355
Reversals				(13)			(726)
Payments				0			(6,629)
Balance, end of period		$ 0		$ 0		$ 0	$ 0
[1]	Includes accruals related to our integration and cost reduction initiatives for 2017 through 2019.
[2]	As discussed in Note 17, corporate costs are allocated to our business segments. As such, the net corporate charges are reflected in the business segment operating (loss) income presented in Note 17 in accordance with our allocation methodology.
[3]	Upon adoption of ASU No. 2016-02, Leasing, on January 1, 2019 (Note 2), our operating lease obligations accrual was reversed and the related operating lease asset was analyzed for impairment in accordance with the new guidance.

Chief Executive Officer transit

Chief Executive Officer transition costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Apr. 25, 2018
Retention bonus, amount						$ 2,000
Impact of modification of share-based payment award						$ 2,088
CEO transition costs	$ 1,145	$ 2,622	$ 8,539	$ 4,152
Accrued liabilities [Member]
CEO transition costs accruals	$ 3,925		$ 3,925		$ 1,972
Other non-current liabilities [Member]
CEO transition costs accruals					$ 1,808
Maximum [Member]
Retention bonus, percentage						150.00%

Income tax benefit (provision)

Income tax benefit (provision) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Reconciliation of effective tax rate
Income tax at federal statutory rate	21.00%	21.00%
Goodwill impairment charges (Note 8)	(22.00%)	7.10%
State income tax, net of federal income tax benefit	4.90%	3.00%
Foreign deferred tax valuation allowance	(3.40%)	0.00%
Foreign tax rate differences	1.20%	0.40%
Net tax impact of share-based compensation	(0.70%)	(0.80%)
Impact of Tax Cuts and Jobs Act	0	(0.008)
Other	(0.40%)	(0.30%)
Effective tax rate	0.60%	29.60%
Foreign deferred tax valuation allowance	$ 8,432

Postretirement benefits (Detail

Postretirement benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net periodic benefit income
Interest cost	$ 682	$ 656	$ 2,046	$ 1,969
Expected return on plan assets	(1,740)	(1,934)	(5,218)	(5,802)
Amortization of prior service credit	(355)	(355)	(1,066)	(1,066)
Amortization of net actuarial losses	806	721	2,417	2,163
Net periodic benefit income	$ (607)	$ (912)	$ (1,821)	$ (2,736)

Debt (Details)

Debt (Details) $ in Thousands		9 Months Ended		12 Months Ended
		Sep. 30, 2019USD ($)		Dec. 31, 2018USD ($)	Jan. 22, 2019USD ($)
Debt instruments [Line Items]
Capital lease obligations		$ 0	[1]	$ 1,864
Long-term debt, principal amount		924,000		911,864
Current portion of long-term debt		0		791
Long-term debt		924,000		911,073
Long-term debt due within one year		0		791
Total debt		924,000		911,864
Revolving credit facility, current commitment		1,150,000		950,000
Line of credit facility increase in current capacity					$ 200,000
Revolving credit facility, maximum commitment		1,425,000
Revolving credit facility [Member]
Debt instruments [Line Items]
Debt, principal amount		924,000		$ 910,000
Revolving credit facility, current commitment		$ 1,150,000
Ratio of total debt less unrestricted cash to EBITDA		2.75
Weighted-average interest rate at period end		3.29%		3.79%
Maximum leverage ratio		3.5
Minimum ratio of EBIT to interest expense		3
Daily average amount outstanding		$ 933,934		$ 731,110
Weighted-average interest rate		3.69%		3.24%
Outstanding letters of credit	[2]	$ (5,733)
Net available for borrowing as of September 30, 2019		$ 220,267
Revolving credit facility [Member] | Minimum [Member]
Debt instruments [Line Items]
Revolving credit facility, commitment fee		0.175%
Revolving credit facility [Member] | Maximum [Member]
Debt instruments [Line Items]
Revolving credit facility, commitment fee		0.35%
Capital lease obligations [Member]
Debt instruments [Line Items]
Current portion of long-term debt		$ 0	[1]	$ 791
Term loan facility [Member]
Debt instruments [Line Items]
Daily average amount outstanding	[3]	$ 0		$ 63,638
Weighted-average interest rate	[3]	0.00%		2.97%
[1]	Upon adoption of ASU No. 2016-02, Leasing , on January 1, 2019 (Note 2), we reclassified our capital lease obligations, now known as finance lease obligations, to accrued liabilities and other non-current liabilities on the consolidated balance sheet.
[2]	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 revolving credit facility.
[3]	During 2018, we had borrowings outstanding under a variable rate term loan facility. These amounts were repaid in March 2018.

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Leases [Line Items]
Finance lease assets	$ 1,164	$ 1,164
Finance lease liabilities	1,545	1,545
Operating lease expense	6,363	15,145	$ 0
Operating cash outflows		12,329
Lease assets obtained during the period in exchange for lease obligations		5,501
Operating lease assets	41,739	41,739		$ 0
Accrued liabilities	12,840	12,840		0
Operating lease liabilities	32,434	32,434		$ 0
Total operating lease liabilities	$ 45,274	$ 45,274
Weighted-average remaining term	5 years 2 months 12 days	5 years 2 months 12 days
Weighted-average discount rate	3.60%	3.60%
Maturities of operating lease liabilities
Remainder of 2019	$ 3,332	$ 3,332
2020	14,626	14,626
2021	10,954	10,954
2022	7,593	7,593
2023	3,731	3,731
Thereafter	11,334	11,334
Total lease payments	51,570	51,570
Less imputed interest	(6,296)	(6,296)
Present value of lease payments	$ 45,274	$ 45,274
Real estate [Member]
Leases [Line Items]
Weighted-average remaining term	5 years 6 months	5 years 6 months
Real estate [Member] | Maximum [Member]
Leases [Line Items]
Remaining lease term	10 years

Other commitments and conting_2

Other commitments and contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Environmental matters [Line Items]
Accruals for environmental matters	$ 2,272	$ 2,755
Self-insurance
Self-insurance liabilities	7,596	6,627
Environmental insurance policy through 2032 [Member]
Environmental matters [Line Items]
Environmental insurance coverage	10,000
Environmental insurance policy through 2022 [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	$ 0

Shareholders' equity (Details)

Shareholders' equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Oct. 24, 2018
Stockholders' Equity Note [Abstract]
Common shares repurchased (in shares)	876	1,346	2,632	1,919
Payments for common shares repurchased			$ 118,547	$ 120,000
Share repurchase program, authorized amount					$ 500,000
Amount remaining under share repurchase authorization	$ 301,452		$ 301,452

Business segment information (d

Business segment information (disaggregated revenue information) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Disaggregated revenue information
Number of reportable business segments			3
Total revenue from external customers	$ 493,593	$ 493,190	$ 1,486,645	$ 1,473,349
United States [Member]
Disaggregated revenue information
Total revenue from external customers	464,383	463,551	1,398,673	1,379,726
Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Total revenue from external customers	29,210	29,639	87,972	93,623
Reportable business segments [Member] | Small Business Services [Member]
Disaggregated revenue information
Total revenue from external customers	310,211	315,599	931,771	949,655
Reportable business segments [Member] | Small Business Services [Member] | United States [Member]
Disaggregated revenue information
Total revenue from external customers	286,025	290,752	857,759	871,574
Reportable business segments [Member] | Small Business Services [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Total revenue from external customers	24,186	24,847	74,012	78,081
Reportable business segments [Member] | Financial Services [Member]
Disaggregated revenue information
Total revenue from external customers	154,599	146,771	465,086	426,727
Reportable business segments [Member] | Financial Services [Member] | United States [Member]
Disaggregated revenue information
Total revenue from external customers	149,575	141,979	451,126	411,185
Reportable business segments [Member] | Financial Services [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Total revenue from external customers	5,024	4,792	13,960	15,542
Reportable business segments [Member] | Direct Checks [Member]
Disaggregated revenue information
Total revenue from external customers	28,783	30,820	89,788	96,967
Reportable business segments [Member] | Direct Checks [Member] | United States [Member]
Disaggregated revenue information
Total revenue from external customers	28,783	30,820	89,788	96,967
Reportable business segments [Member] | Direct Checks [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Total revenue from external customers	0	0	0	0
Small business marketing solutions [Member]
Disaggregated revenue information
Total revenue from external customers	68,258	69,490	203,192	205,694
Small business marketing solutions [Member] | Reportable business segments [Member] | Small Business Services [Member]
Disaggregated revenue information
Total revenue from external customers	68,258	69,490	203,192	205,694
Small business marketing solutions [Member] | Reportable business segments [Member] | Financial Services [Member]
Disaggregated revenue information
Total revenue from external customers	0	0	0	0
Small business marketing solutions [Member] | Reportable business segments [Member] | Direct Checks [Member]
Disaggregated revenue information
Total revenue from external customers	0	0	0	0
Treasury management solutions [Member]
Disaggregated revenue information
Total revenue from external customers	45,836	35,833	136,782	93,591
Treasury management solutions [Member] | Reportable business segments [Member] | Small Business Services [Member]
Disaggregated revenue information
Total revenue from external customers	0	0	0	0
Treasury management solutions [Member] | Reportable business segments [Member] | Financial Services [Member]
Disaggregated revenue information
Total revenue from external customers	45,836	35,833	136,782	93,591
Treasury management solutions [Member] | Reportable business segments [Member] | Direct Checks [Member]
Disaggregated revenue information
Total revenue from external customers	0	0	0	0
Web services [Member]
Disaggregated revenue information
Total revenue from external customers	40,906	41,973	125,856	120,199
Web services [Member] | Reportable business segments [Member] | Small Business Services [Member]
Disaggregated revenue information
Total revenue from external customers	40,906	41,973	125,856	120,199
Web services [Member] | Reportable business segments [Member] | Financial Services [Member]
Disaggregated revenue information
Total revenue from external customers	0	0	0	0
Web services [Member] | Reportable business segments [Member] | Direct Checks [Member]
Disaggregated revenue information
Total revenue from external customers	0	0	0	0
Data-driven marketing solutions [Member]
Disaggregated revenue information
Total revenue from external customers	39,889	39,808	115,469	114,275
Data-driven marketing solutions [Member] | Reportable business segments [Member] | Small Business Services [Member]
Disaggregated revenue information
Total revenue from external customers	0	0	0	0
Data-driven marketing solutions [Member] | Reportable business segments [Member] | Financial Services [Member]
Disaggregated revenue information
Total revenue from external customers	39,889	39,808	115,469	114,275
Data-driven marketing solutions [Member] | Reportable business segments [Member] | Direct Checks [Member]
Disaggregated revenue information
Total revenue from external customers	0	0	0	0
Fraud, security, risk management and operational services [Member]
Disaggregated revenue information
Total revenue from external customers	22,064	22,796	65,516	68,104
Fraud, security, risk management and operational services [Member] | Reportable business segments [Member] | Small Business Services [Member]
Disaggregated revenue information
Total revenue from external customers	6,171	6,383	18,339	19,487
Fraud, security, risk management and operational services [Member] | Reportable business segments [Member] | Financial Services [Member]
Disaggregated revenue information
Total revenue from external customers	12,749	12,953	37,278	37,856
Fraud, security, risk management and operational services [Member] | Reportable business segments [Member] | Direct Checks [Member]
Disaggregated revenue information
Total revenue from external customers	3,144	3,460	9,899	10,761
Total MOS [Member]
Disaggregated revenue information
Total revenue from external customers	216,953	209,900	646,815	601,863
Total MOS [Member] | Reportable business segments [Member] | Small Business Services [Member]
Disaggregated revenue information
Total revenue from external customers	115,335	117,846	347,387	345,380
Total MOS [Member] | Reportable business segments [Member] | Financial Services [Member]
Disaggregated revenue information
Total revenue from external customers	98,474	88,594	289,529	245,722
Total MOS [Member] | Reportable business segments [Member] | Direct Checks [Member]
Disaggregated revenue information
Total revenue from external customers	3,144	3,460	9,899	10,761
Checks [Member]
Disaggregated revenue information
Total revenue from external customers	192,833	198,592	590,481	612,504
Checks [Member] | Reportable business segments [Member] | Small Business Services [Member]
Disaggregated revenue information
Total revenue from external customers	115,392	117,918	349,116	360,637
Checks [Member] | Reportable business segments [Member] | Financial Services [Member]
Disaggregated revenue information
Total revenue from external customers	53,111	54,800	165,778	170,442
Checks [Member] | Reportable business segments [Member] | Direct Checks [Member]
Disaggregated revenue information
Total revenue from external customers	24,330	25,874	75,587	81,425
Forms, accessories and other products [Member]
Disaggregated revenue information
Total revenue from external customers	83,807	84,698	249,349	258,982
Forms, accessories and other products [Member] | Reportable business segments [Member] | Small Business Services [Member]
Disaggregated revenue information
Total revenue from external customers	79,484	79,835	235,268	243,638
Forms, accessories and other products [Member] | Reportable business segments [Member] | Financial Services [Member]
Disaggregated revenue information
Total revenue from external customers	3,014	3,377	9,779	10,563
Forms, accessories and other products [Member] | Reportable business segments [Member] | Direct Checks [Member]
Disaggregated revenue information
Total revenue from external customers	$ 1,309	$ 1,486	$ 4,302	$ 4,781

Business segment information _2

Business segment information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Business segment information [Line Items]
Total revenue from external customers	$ 493,593	$ 493,190	$ 1,486,645	$ 1,473,349
Operating (loss) income:	(340,683)	(17,282)	(225,086)	153,249
Depreciation and amortization expense:	30,494	33,406	95,430	96,923
Asset impairment charges	390,980	99,170	390,980	101,319
Total assets:	1,888,963	2,267,367	1,888,963	2,267,367	$ 2,305,096
Capital asset purchases:	17,335	14,526	49,679	42,566
Reportable business segments [Member] | Small Business Services [Member]
Business segment information [Line Items]
Total revenue from external customers	310,211	315,599	931,771	949,655
Operating (loss) income:	(243,193)	(45,254)	(163,805)	72,288
Depreciation and amortization expense:	14,497	17,173	47,730	48,765
Asset impairment charges	273,583	97,288	273,583	99,437
Total assets:	809,058	1,056,086	809,058	1,056,086
Capital asset purchases:	0	0	0	0
Reportable business segments [Member] | Financial Services [Member]
Business segment information [Line Items]
Total revenue from external customers	154,599	146,771	465,086	426,727
Operating (loss) income:	(105,691)	17,612	(86,134)	49,565
Depreciation and amortization expense:	15,220	15,424	45,231	45,740
Asset impairment charges	117,397	1,882	117,397	1,882
Total assets:	560,405	753,240	560,405	753,240
Capital asset purchases:	0	0	0	0
Reportable business segments [Member] | Direct Checks [Member]
Business segment information [Line Items]
Total revenue from external customers	28,783	30,820	89,788	96,967
Operating (loss) income:	8,201	10,360	24,853	31,396
Depreciation and amortization expense:	777	809	2,469	2,418
Asset impairment charges	0	0	0	0
Total assets:	155,487	157,806	155,487	157,806
Capital asset purchases:	0	0	0	0
Corporate [Member]
Business segment information [Line Items]
Total revenue from external customers	0	0	0	0
Operating (loss) income:	0	0	0	0
Depreciation and amortization expense:	0	0	0	0
Asset impairment charges	0	0	0	0
Total assets:	364,013	300,235	364,013	300,235
Capital asset purchases:	$ 17,335	$ 14,526	$ 49,679	$ 42,566