Deluxe (DLX) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Document

Document - shares	6 Months Ended
	Jun. 30, 2020	Jul. 21, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
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	2020
Document Fiscal Period Focus	Q2
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		41,858,236

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 371,951	$ 73,620
Trade accounts receivable, net of allowances for uncollectible accounts of $6,726 and $4,985, respectively)	140,285	163,421
Inventories and supplies	47,525	39,921
Funds held for customers, including assets carried at fair value of $23,201 and $34,450, respectively	82,582	117,641
Revenue in excess of billings	25,014	32,790
Other current assets	48,893	44,818
Total current assets	716,250	472,211
Deferred income taxes	5,929	3,907
Long-term investments	44,405	44,995
Property, plant and equipment, net of accumulated depreciation of $361,224 and $377,180, respectively	77,857	96,467
Operating lease assets	45,048	44,372
Intangibles, net of accumulated amortization of $578,915 and $557,023, respectively	230,745	276,122
Goodwill	736,748	804,487
Other non-current assets	203,100	200,750
Total assets	2,060,082	1,943,311
Current liabilities:
Accounts payable	103,639	112,198
Funds held for customers	80,672	116,411
Accrued liabilities	174,210	179,338
Total current liabilities	358,521	407,947
Long-term debt	1,140,000	883,500
Operating lease liabilities	34,165	33,585
Deferred income taxes	3,243	14,898
Other non-current liabilities	38,815	32,520
Commitments and contingencies (Notes 12 and 15)
Shareholders' equity:
Common shares $1 par value (authorized: 500,000 shares; outstanding: June 30, 2020 - 41,855; December 31, 2019 - 42,126)	41,855	42,126
Additional paid-in capital	4,950	4,086
Retained earnings	494,243	572,596
Accumulated other comprehensive loss	(55,779)	(47,947)
Non-controlling interest	69	0
Total shareholders' equity	485,338	570,861
Total liabilities and shareholders' equity	$ 2,060,082	$ 1,943,311

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Trade accounts receivable, allowance for uncollectible accounts	$ 6,726	$ 4,985
Funds held for customers, assets carried at fair value	23,201	34,450
Accumulated depreciation	361,224	377,180
Accumulated amortization	$ 578,915	$ 557,023
Shareholders' equity:
Common stock, par value (per share)	$ 1	$ 1
Common stock, shares authorized	500,000	500,000
Common stock, shares outstanding	41,855	42,126

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total revenue	$ 410,405	$ 493,986	$ 896,828	$ 993,051
Total cost of revenue	(162,283)	(202,528)	(364,332)	(402,151)
Gross profit	248,122	291,458	532,496	590,900
Selling, general and administrative expense	(198,570)	(222,292)	(435,774)	(452,469)
Restructuring and integration expense	(20,382)	(17,497)	(38,865)	(23,780)
Asset impairment charges	(4,883)	0	(95,213)	0
Operating income (loss)	24,315	51,824	(36,499)	115,597
Interest expense	(6,171)	(9,239)	(13,171)	(18,540)
Other income	1,808	2,168	6,281	3,934
Income (loss) before income taxes	19,952	44,753	(43,389)	100,991
Income tax provision	(5,074)	(12,171)	(1,864)	(27,219)
Net income (loss)	14,878	32,582	(45,253)	73,772
Net income attributable to non-controlling interest	(19)	0	(19)	0
Net income (loss) attributable to Deluxe	14,859	32,582	(45,272)	73,772
Total comprehensive income (loss)	19,053	33,744	(53,085)	76,824
Comprehensive income (loss) attributable to Deluxe	$ 19,034	$ 33,744	$ (53,104)	$ 76,824
Basic earnings (loss) per share	$ 0.36	$ 0.75	$ (1.08)	$ 1.68
Diluted earnings (loss) per share	$ 0.35	$ 0.75	$ (1.10)	$ 1.68
Operating expenses [Member]
Restructuring and integration expense	$ (20,354)	$ (17,342)	$ (38,008)	$ (22,834)
Product [Member]
Total revenue	278,709	347,061	609,396	697,580
Total cost of revenue	(102,861)	(133,798)	(224,450)	(265,061)
Service [Member]
Total revenue	131,696	146,925	287,432	295,471
Total cost of revenue	$ (59,422)	$ (68,730)	$ (139,882)	$ (137,090)

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Adoption of Accounting Standards Update [Member]	Common shares par value [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive loss [Member]	Non-controlling Interest [Member]
Retained earnings | Adoption of Accounting Standards Update No. 2016-02 [Member]		$ (267)
Balance, beginning of year at Dec. 31, 2018	$ 915,413		$ 44,647	$ 0	$ 927,345	$ (56,579)
Balance, beginning of year (Adoption of Accounting Standards Update No. 2016-02 [Member]) at Dec. 31, 2018		(267)
Balance (in shares) at Dec. 31, 2018	44,647
Net income (loss) attributable to Deluxe	$ 73,772				73,772
Net income attributable to non-controlling interest	0
Net income (loss)	73,772
Cash dividends (quarters ended June 30, 2020 and 2019 - $0.30 per share; six months ended June 30, 2020 and 2019 - $0.60 per share)	(26,467)				(26,467)
Common shares issued	$ 2,037		99	1,938
Common shares issued (in shares)	99
Common shares repurchased	$ (78,896)		(1,757)	(7,504)	(69,635)
Common shares repurchased (in shares)	(1,757)
Other common shares retired	$ (2,871)		(61)	(2,810)
Other common shares retired (in shares)	(61)
Employee share-based compensation	$ 8,376			8,376
Other comprehensive income (loss)	3,052					3,052
Balance, end of period at Jun. 30, 2019	$ 894,149		42,928	0	904,748	(53,527)
Balance (in shares) at Jun. 30, 2019	42,928
Balance, beginning of year at Mar. 31, 2019	$ 897,563		43,638		908,614	(54,689)
Balance (in shares) at Mar. 31, 2019	43,638
Net income (loss) attributable to Deluxe	$ 32,582				32,582
Net income attributable to non-controlling interest	0
Net income (loss)	32,582
Cash dividends (quarters ended June 30, 2020 and 2019 - $0.30 per share; six months ended June 30, 2020 and 2019 - $0.60 per share)	(13,296)				(13,296)
Common shares issued	$ 89		13	76
Common shares issued (in shares)	13
Common shares repurchased	$ (28,896)		(718)	(5,026)	(23,152)
Common shares repurchased (in shares)	(718)
Other common shares retired	$ (201)		(5)	(196)
Other common shares retired (in shares)	(5)
Employee share-based compensation	$ 5,146			5,146
Other comprehensive income (loss)	1,162					1,162
Balance, end of period at Jun. 30, 2019	$ 894,149		42,928	0	904,748	(53,527)
Balance (in shares) at Jun. 30, 2019	42,928
Retained earnings	$ 572,596
Retained earnings | Adoption of Accounting Standards Update No. 2016-13 [Member]		(3,640)
Balance, beginning of year at Dec. 31, 2019	$ 570,861		42,126	4,086	572,596	(47,947)	$ 0
Balance, beginning of year (Adoption of Accounting Standards Update No. 2016-13 [Member]) at Dec. 31, 2019		(3,640)
Balance (in shares) at Dec. 31, 2019	42,126
Common shares repurchased (in shares)	(499)
Balance, end of period at Mar. 31, 2020	$ 473,967		41,691	0	492,230	(59,954)	0
Balance (in shares) at Mar. 31, 2020	41,691
Balance, beginning of year at Dec. 31, 2019	$ 570,861		42,126	4,086	572,596	(47,947)	0
Balance, beginning of year (Adoption of Accounting Standards Update No. 2016-13 [Member]) at Dec. 31, 2019		$ (3,640)
Balance (in shares) at Dec. 31, 2019	42,126
Net income (loss) attributable to Deluxe	$ (45,272)				(45,272)
Net income attributable to non-controlling interest	19						19
Net income (loss)	(45,253)
Cash dividends (quarters ended June 30, 2020 and 2019 - $0.30 per share; six months ended June 30, 2020 and 2019 - $0.60 per share)	(25,707)				(25,707)
Common shares issued	$ 2,557		290	2,267
Common shares issued (in shares)	290
Common shares repurchased	$ (14,000)		(499)	(9,767)	(3,734)
Common shares repurchased (in shares)	(499)
Other common shares retired	$ (1,928)		(62)	(1,866)
Other common shares retired (in shares)	(62)
Employee share-based compensation	$ 10,230			10,230
Other comprehensive income (loss)	(7,832)					(7,832)
Non-controlling interest, net	50						50
Balance, end of period at Jun. 30, 2020	$ 485,338		41,855	4,950	494,243	(55,779)	69
Balance (in shares) at Jun. 30, 2020	41,855
Balance, beginning of year at Mar. 31, 2020	$ 473,967		41,691	0	492,230	(59,954)	0
Balance (in shares) at Mar. 31, 2020	41,691
Net income (loss) attributable to Deluxe	$ 14,859				14,859
Net income attributable to non-controlling interest	19						19
Net income (loss)	14,878
Cash dividends (quarters ended June 30, 2020 and 2019 - $0.30 per share; six months ended June 30, 2020 and 2019 - $0.60 per share)	(12,846)				(12,846)
Common shares issued	$ 674		209	465
Common shares issued (in shares)	209
Common shares repurchased (in shares)	0
Other common shares retired	$ (1,132)		(45)	(1,087)
Other common shares retired (in shares)	(45)
Employee share-based compensation	$ 5,572			5,572
Other comprehensive income (loss)	4,175					4,175
Non-controlling interest, net	50						50
Balance, end of period at Jun. 30, 2020	$ 485,338		$ 41,855	$ 4,950	$ 494,243	$ (55,779)	$ 69
Balance (in shares) at Jun. 30, 2020	41,855
Retained earnings	$ 494,243

CONSOLIDTED STATEMENTS OF SHARE

CONSOLIDTED STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals) (Unaudited) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends per share	$ 0.30	$ 0.30	$ 0.60	$ 0.60

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (45,253)	$ 73,772
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	10,053	8,448
Amortization of intangibles	45,040	56,488
Operating lease expense	10,038	8,782
Asset impairment charges	95,213	0
Amortization of prepaid product discounts	14,174	11,681
Deferred income taxes	(10,886)	2,718
Employee share-based compensation expense	9,095	9,224
Other non-cash items, net	14,383	7,323
Changes in assets and liabilities:
Trade accounts receivable	20,054	18,881
Inventories and supplies	(8,719)	(836)
Other current assets	2,073	(11,975)
Non-current assets	(6,646)	(2,249)
Accounts payable	(16,023)	(12,621)
Prepaid product discount payments	(15,806)	(16,182)
Other accrued and non-current liabilities	(7,141)	(48,350)
Net cash provided by operating activities	109,649	105,104
Cash flows from investing activities:
Purchases of capital assets	(27,085)	(32,344)
Purchases of customer funds marketable securities	(3,701)	(3,778)
Proceeds from customer funds marketable securities	3,701	3,778
Other	1,837	(456)
Net cash used by investing activities	(25,248)	(32,800)
Cash flows from financing activities:
Proceeds from issuing long-term debt	309,000	154,000
Payments on long-term debt	(52,500)	(113,000)
Net change in customer funds obligations	(31,351)	(10,677)
Proceeds from issuing shares under employee plans	2,411	1,637
Employee taxes paid for shares withheld	(1,889)	(2,872)
Payments for common shares repurchased	(14,000)	(78,896)
Cash dividends paid to shareholders	(25,464)	(26,253)
Other	(597)	(1,440)
Net cash provided (used) by financing activities	185,610	(77,501)
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents	(6,490)	3,996
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents	263,521	(1,201)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year	174,811	145,259
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	$ 438,332	$ 144,058

Consolidated financial statemen

Consolidated financial statements	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated financial statements	The consolidated balance sheet as of June 30, 2020 , the consolidated statements of comprehensive income (loss) for the quarters and six months ended June 30, 2020 and 2019 , the consolidated statements of shareholders’ equity for the quarters and six months ended June 30, 2020 and 2019 and the consolidated statements of cash flows for the six months ended June 30, 2020 and 2019 are unaudited. The consolidated balance sheet as of December 31, 2019 was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. generally accepted accounting principles (GAAP). 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, 2019 (the 2019 Form 10-K). The preparation of our consolidated financial statements requires us to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the related disclosure of contingent assets and liabilities. We base our estimates on historical experience and on various other factors and assumptions that we believe are reasonable under the circumstances, including the estimated impact of extraordinary events such as the novel coronavirus (COVID-19) pandemic, the results of which form the basis for making judgments about the carrying values of our assets and liabilities. Actual results may differ significantly from our estimates and assumptions, including our estimates of the severity and duration of the COVID-19 pandemic. Further information can be found in Note 15. Non-controlling interest – Effective April 1, 2020, we executed an agreement to form MedPay Exchange LLC (MPX), which delivers payments to healthcare providers from insurance companies and other payers. This entity is a variable interest entity (VIE), as defined in Accounting Standards Codification Topic 810, Consolidation . As we are the primary beneficiary of the VIE, we are required to consolidate MPX in our consolidated financial statements. Our partner’s interest in MPX is reported as non-controlling interest in the consolidated balance sheet within equity, separate from our equity. Net income (loss) and comprehensive income (loss) are attributed to us and the non-controlling interest. The amounts attributable to the non-controlling interest were not significant for the quarter ended June 30, 2020. Comparability – Amounts on the consolidated balance sheet as of December 31, 2019 and amounts within cash flows from operating activities and cash flows from investing activities on the consolidated statement of cash flows for the six months ended June 30, 2019 have been modified to conform to the current year presentation. On the consolidated balance sheet, assets held for sale are included within other non-current assets. In the previous year, this amount was presented separately. Within cash flows from operating activities, loss on sales of businesses and customer lists is included within other non-cash items, net. In the previous year, this amount was presented separately. Within cash flows from investing activities, payments for acquisitions, net of cash acquired, is included within the other caption. In the previous year, this amount was presented separately.

New accounting pronouncements

New accounting pronouncements	6 Months Ended
	Jun. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New accounting pronouncements	Recently Adopted Accounting Standards ASU No. 2016-13 – In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments . Subsequently, the FASB issued several amendments to this standard. These standards replace the incurred loss methodology previously utilized for valuing financial instruments with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected losses under the CECL methodology is applicable to financial instruments measured at amortized cost, including accounts and notes receivable. The standards also made targeted changes to the accounting for available-for-sale debt securities. We adopted the standards on January 1, 2020 using the modified retrospective method for financial instruments measured at amortized cost. Under this method, prior period amounts continue to be reported in accordance with previously applicable GAAP. We recorded a net decrease in retained earnings of $3,640 as of January 1, 2020 for the cumulative effect of adopting the standards, which consisted primarily of an increase in the allowance for credit losses on loans and notes receivable, net of the related deferred income tax impact. We recorded no allowance for credit losses related to our available-for-sale debt securities. Further information regarding these investments can be found in Note 3. An allowance for uncollectible accounts is a valuation account that is deducted from an asset's amortized cost basis to present the net amount expected to be collected. Amounts are charged off against the allowance when we believe the uncollectibility of an account is confirmed. In calculating the allowances related to trade accounts receivable and revenue in excess of billings, we utilize a combination of aging schedules with reserve rates applied to both current and aged receivables and roll-rate reserves using historical loss rates and changes in current or projected conditions. In determining the allowance for uncollectible accounts related to loans and notes receivable from distributors, we utilize a loss-rate analysis based on historical loss information, current delinquency rates, the credit quality of the loan recipients and the portfolio mix to determine an appropriate credit risk measurement, adjusted to reflect current loan-specific risk characteristics and changes in environmental conditions affecting our small business distributors. Changes in conditions that may affect our distributors include, but are not limited to, general economic conditions, changes in the markets for their products and services and changes in governmental regulations. In completing our analysis, we utilize a reversion methodology for periods beyond the reasonable and supportable forecast period, as many of our loans and notes receivable have longer terms. Further information regarding current risks and uncertainties affecting our loans and notes receivable can be found in Note 15. Further information regarding our allowances for uncollectible accounts can be found in Note 3. Our trade accounts receivable and unbilled receivables are not interest-bearing. Interest rates on our loans and notes receivable generally range from 6% to 8% and reflect market interest rates at the time the transactions were executed. Accrued interest included in loans and notes receivable is not significant. 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 were effective for us on January 1, 2020 and are required to be applied prospectively to fair value measurements completed on or after that date. Disclosures regarding our fair value measurements can be found in Note 7. 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. We adopted this standard on January 1, 2020, applying it prospectively to eligible costs incurred on or after this date. Adoption of this standard did impact our results of operations and financial position, as we previously expensed these implementation costs as incurred. As of June 30, 2020 , $12,166 of cloud computing implementation costs were included within other non-current assets on the consolidated balance sheet. These costs primarily relate to our planned implementation of a new enterprise resource planning system. Accounting Standards Not Yet Adopted ASU No. 2019-12 – In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes . This standard addresses several specific areas of accounting for income taxes. The guidance is effective for us on January 1, 2021. Portions of the standard are required to be adopted prospectively and certain aspects will be adopted using the modified retrospective approach. We do not expect the application of this standard to have a significant impact on our results of operations or financial position.

Supplemental balance sheet and

Supplemental balance sheet and cash flow information	6 Months Ended
	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Supplemental balance sheet and cash flow information	Trade accounts receivable – Changes in the allowance for uncollectible accounts included within trade accounts receivable for the six months ended June 30, 2020 and 2019 were as follows: Six Months Ended June 30, (in thousands) 2020 2019 Balance, beginning of year $ 4,985 $ 3,639 Bad debt expense 3,374 2,549 Write-offs and other (1,633 ) (1,669 ) Balance, end of period $ 6,726 $ 4,519 Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) June 30, December 31, Raw materials $ 7,001 $ 6,977 Semi-finished goods 7,070 7,368 Finished goods 30,082 21,982 Supplies 3,372 3,594 Inventories and supplies $ 47,525 $ 39,921 Available-for-sale debt securities – Available-for-sale debt securities included within funds held for customers were comprised of the following: June 30, 2020 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 7,000 $ — $ — $ 7,000 Canadian and provincial government securities 8,732 126 — 8,858 Canadian guaranteed investment certificates 7,343 — — 7,343 Available-for-sale debt securities $ 23,075 $ 126 $ — $ 23,201 (1) Funds held for customers, as reported on the consolidated balance sheet as of June 30, 2020 , also included cash of $59,381 . December 31, 2019 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 18,000 $ — $ — $ 18,000 Canadian and provincial government securities 9,056 — (304 ) 8,752 Canadian guaranteed investment certificates 7,698 — — 7,698 Available-for-sale debt securities $ 34,754 $ — $ (304 ) $ 34,450 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2019 , also included cash of $83,191 . Expected maturities of available-for-sale debt securities as of June 30, 2020 were as follows: (in thousands) Fair value Due in one year or less $ 16,318 Due in two to five years 2,861 Due in six to ten years 4,022 Available-for-sale debt securities $ 23,201 Further information regarding the fair value of available-for-sale debt securities can be found in Note 7. Revenue in excess of billings – Upon adoption of ASU No. 2016-13 and related amendments on January 1, 2020 (Note 2), we recorded an allowance for uncollectible accounts related to revenue in excess of billings. This allowance was not significant upon adoption or as of June 30, 2020 . Revenue in excess of billings, net of the allowance for uncollectible acounts, was comprised of the following: (in thousands) June 30, December 31, Conditional right to receive consideration $ 16,839 $ 24,499 Unconditional right to receive consideration 8,175 8,291 Revenue in excess of billings $ 25,014 $ 32,790 Intangibles – Intangibles were comprised of the following: June 30, 2020 December 31, 2019 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Amortizable intangibles: Internal-use software $ 397,913 $ (321,204 ) $ 76,709 $ 380,905 $ (299,698 ) $ 81,207 Customer lists/relationships 310,282 (181,761 ) 128,521 348,055 (187,462 ) 160,593 Software to be sold 36,900 (21,770 ) 15,130 36,900 (19,657 ) 17,243 Technology-based intangibles 34,613 (25,313 ) 9,300 34,780 (22,122 ) 12,658 Trade names 29,952 (28,867 ) 1,085 32,505 (28,084 ) 4,421 Intangibles $ 809,660 $ (578,915 ) $ 230,745 $ 833,145 $ (557,023 ) $ 276,122 During the first quarter of 2020, we recorded asset impairment charges related to certain intangible assets. Further information can be found in Note 7. Amortization of intangibles was $21,529 for the quarter ended June 30, 2020 , $28,314 for the quarter ended June 30, 2019 , $45,040 for the six months ended June 30, 2020 and $56,488 for the six months ended June 30, 2019 . Based on the intangibles in service as of June 30, 2020 , estimated future amortization expense is as follows: (in thousands) Estimated amortization expense Remainder of 2020 $ 45,590 2021 70,492 2022 50,044 2023 30,139 2024 15,616 The following intangibles were acquired during the six months ended June 30, 2020 : (in thousands) Amount Weighted-average amortization period (in years) Internal-use software $ 20,286 3 Customer lists/relationships 735 5 Acquired intangibles $ 21,021 4 Goodwill – Changes in goodwill by reportable segment and in total for the six months ended June 30, 2020 were as follows : (in thousands) Payments Cloud Solutions Promotional Solutions Checks Total Balance, December 31, 2019: Goodwill, gross $ 168,165 $ 432,984 $ 252,834 $ 434,812 $ 1,288,795 Accumulated impairment charges — (357,741 ) (126,567 ) — (484,308 ) Goodwill, net of accumulated impairment charges 168,165 75,243 126,267 434,812 804,487 Impairment charges (Note 7) — (4,317 ) (63,356 ) — (67,673 ) Currency translation adjustment — — (66 ) — (66 ) Balance, June 30, 2020 $ 168,165 $ 70,926 $ 62,845 $ 434,812 $ 736,748 Balance, June 30, 2020: Goodwill, gross $ 168,165 $ 432,984 $ 252,768 $ 434,812 $ 1,288,729 Accumulated impairment charges — (362,058 ) (189,923 ) — (551,981 ) Goodwill, net of accumulated impairment charges $ 168,165 $ 70,926 $ 62,845 $ 434,812 $ 736,748 Other non-current assets – Other non-current assets were comprised of the following: (in thousands) June 30, December 31, Postretirement benefit plan asset $ 59,457 $ 56,743 Loans and notes receivable from Safeguard distributors, net of allowance for doubtful accounts (1) 55,255 66,872 Prepaid product discounts 43,541 51,145 Cloud computing arrangements 12,166 — Deferred sales commissions (2) 10,789 9,682 Other 21,892 16,308 Other non-current assets $ 203,100 $ 200,750 (1) Amount Includes the non-current portion of loans and note receivables. The current portion of these receivables is included in other current assets on the consolidated balance sheets and was $3,879 as of June 30, 2020 and $3,511 as of December 31, 2019 . (2) Amortization of deferred sales commissions was $1,817 for the six months ended June 30, 2020 and $1,464 for the six months ended June 30, 2019 . Upon adoption of ASU No. 2016-13 and related amendments on January 1, 2020 (Note 2), we recorded an additional allowance for uncollectible accounts related to loans and notes receivable from Safeguard distributors. Changes in this allowance for the six months ended June 30, 2020 and 2019 were as follows: Six Months Ended June 30, (in thousands) 2020 2019 Balance, beginning of year $ 284 $ 284 Adoption of ASU No. 2016-13 (Note 2) 4,749 — Bad debt expense 6,623 — Balance, end of period $ 11,656 $ 284 Bad debt expense for the six months ended June 30, 2020 , included loan-specific allowances primarily related to a distributor that was underperforming. In calculating this reserve, we utilized various valuation techniques to determine the value of the underlying collateral. Other past due receivables and those on non-accrual status were not significant as of June 30, 2020 . We categorize loans and notes receivable into risk categories based on information about the ability of borrowers to service their debt, including current financial information, historical payment experience, current economic trends and other factors. The highest quality receivables are assigned a 1-2 internal grade. Those that have a potential weakness requiring management's attention are assigned a 3-4 internal grade. The following table presents loans and notes receivable from Safeguard distributors, including the current portion, by credit quality indicator and by year of origination, as of June 30, 2020 . There were no write-offs or recoveries recorded during the six months ended June 30, 2020 . Loans and notes receivable from distributors amortized cost basis by origination year (in thousands) 2020 2019 2018 2017 2016 Prior Total Risk rating: 1-2 internal grade $ 1,386 $ 3,876 $ 24,310 $ 22,779 $ 220 $ 4,386 $ 56,957 3-4 internal grade — 2,553 7,508 — — 3,772 13,833 Loans and notes receivable $ 1,386 $ 6,429 $ 31,818 $ 22,779 $ 220 $ 8,158 $ 70,790 Changes in prepaid product discounts during the six months ended June 30, 2020 and 2019 were as follows: Six Months Ended June 30, (in thousands) 2020 2019 Balance, beginning of year $ 51,145 $ 54,642 Additions (1) 7,195 12,405 Amortization (14,174 ) (11,681 ) Other (625 ) (447 ) Balance, end of period $ 43,541 $ 54,919 (1) Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $15,806 for the six months ended June 30, 2020 and $16,182 for the six months ended June 30, 2019 . Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) June 30, December 31, Deferred revenue (1) $ 43,271 $ 46,098 Employee cash bonuses 21,648 36,918 Wages 17,389 6,937 Operating lease liabilities 14,320 12,898 Prepaid product discounts due within one year 8,810 14,709 Other 68,772 61,778 Accrued liabilities $ 174,210 $ 179,338 (1) $30,594 of the December 31, 2019 amount was recognized as revenue during the six months ended June 30, 2020 . 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) June 30, June 30, Cash and cash equivalents $ 371,951 $ 66,732 Restricted cash and restricted cash equivalents included in funds held for customers 66,381 77,326 Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 438,332 $ 144,058

Earnings (loss) per share

Earnings (loss) per share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings (loss) per share	The following table reflects the calculation of basic and diluted earnings (loss) per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted earnings (loss) per share because their effect would have been antidilutive. Quarter Ended Six Months Ended (in thousands, except per share amounts) 2020 2019 2020 2019 Earnings (loss) per share – basic: Net income (loss) $ 14,878 $ 32,582 $ (45,253 ) $ 73,772 Net income attributable to non-controlling interest (19 ) — (19 ) — Net income (loss) attributable to Deluxe 14,859 32,582 (45,272 ) 73,772 Income allocated to participating securities (13 ) (60 ) (32 ) (170 ) Income (loss) attributable to Deluxe available to common shareholders $ 14,846 $ 32,522 $ (45,304 ) $ 73,602 Weighted-average shares outstanding 41,797 43,400 41,946 43,697 Earnings (loss) per share – basic $ 0.36 $ 0.75 $ (1.08 ) $ 1.68 Earnings (loss) per share – diluted: Net income (loss) $ 14,878 $ 32,582 $ (45,253 ) $ 73,772 Net income attributable to non-controlling interest (19 ) — (19 ) — Net income (loss) attributable to Deluxe 14,859 32,582 (45,272 ) 73,772 Income allocated to participating securities — (10 ) (32 ) (76 ) Re-measurement of share-based awards classified as liabilities (79 ) (44 ) (853 ) (44 ) Income (loss) attributable to Deluxe available to common shareholders $ 14,780 $ 32,528 $ (46,157 ) $ 73,652 Weighted-average shares outstanding 41,797 43,400 41,946 43,697 Dilutive impact of potential common shares 151 154 40 127 Weighted-average shares and potential common shares outstanding 41,948 43,554 41,986 43,824 Earnings (loss) per share – diluted $ 0.35 $ 0.75 $ (1.10 ) $ 1.68 Antidilutive options excluded from calculation 2,133 1,439 2,199 1,439

Other comprehensive income (los

Other comprehensive income (loss)	6 Months Ended
	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other comprehensive income (loss)	Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net income (loss) was as follows: Accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affected line item in consolidated statements of comprehensive income (loss) Quarter Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Realized loss on interest rate swap $ (281 ) $ — $ (188 ) $ — Interest expense Tax benefit 73 — 49 — Income tax provision Realized loss on interest rate swap, net of tax (208 ) — (139 ) — Net income Amortization of postretirement benefit plan items: Prior service credit 355 355 711 711 Other income Net actuarial loss (575 ) (806 ) (1,150 ) (1,612 ) Other income Total amortization (220 ) (451 ) (439 ) (901 ) Other income Tax benefit 12 71 23 140 Income tax provision Amortization of postretirement benefit plan items, net of tax (208 ) (380 ) (416 ) (761 ) Net income Total reclassifications, net of tax $ (416 ) $ (380 ) $ (555 ) $ (761 ) Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the six months ended June 30, 2020 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, 2019 $ (28,406 ) $ (275 ) $ (1,097 ) $ (18,169 ) $ (47,947 ) Other comprehensive income (loss) before reclassifications — 308 (5,395 ) (3,300 ) (8,387 ) Amounts reclassified from accumulated other comprehensive loss 416 — 139 — 555 Net current-period other comprehensive income (loss) 416 308 (5,256 ) (3,300 ) (7,832 ) Balance, June 30, 2020 $ (27,990 ) $ 33 $ (6,353 ) $ (21,469 ) $ (55,779 ) (1) Other comprehensive income before reclassifications is net of income tax expense of $107 . (2) Other comprehensive loss before reclassifications is net of an income tax benefit of $1,897 .

Derivative financial instrument

Derivative financial instruments	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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 11). 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 sheets and are subsequently reclassified to interest expense as interest payments are made on the variable-rate debt. The fair value of the interest rate swap was $8,584 as of June 30, 2020 and $1,480 as of December 31, 2019 and was included in other non-current liabilities on the consolidated balance sheets. 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 June 30, 2020 and December 31, 2019 and its impact on consolidated net income (loss) and our consolidated statements of cash flows was not significant. We also do not expect the amount to be reclassified to interest expense over the next 12 months to be significant.

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair value measurements	Goodwill 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 goodwill and indefinite-lived intangibles is included under the caption "Note 1: Significant Accounting Policies" in the Notes to Consolidated Financial Statements appearing in the 2019 Form 10-K and explains our methodology for assessing impairment of these assets. Effective January 1, 2020, we reorganized our reportable business segments to align with structural and management reporting changes in support of our growth strategy (Note 14). As a result, we reassessed our previously determined reporting units and concluded that a realignment of our reporting units was required. We analyzed goodwill for impairment immediately prior to this realignment by performing a qualitative analysis for all of our reporting units, with the exception of our Direct-to-Consumer reporting unit, which is part of our new Checks reportable business segment. 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 last quantitative analyses we completed. In completing these assessments, we noted no changes in events or circumstances 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 analysis of our Direct-to-Consumer reporting unit indicated that its fair value exceeded its carrying value by approximately $35,000 , or 26% above its carrying value. In completing the realignment of our reporting units, we reallocated the carrying value of goodwill to our new reporting units based on their relative fair values. Immediately subsequent to the realignment, we completed a quantitative analysis for the reporting units that changed as a result of the realignment. This quantitative analysis, as of January 1, 2020, indicated that the estimated fair values of our reporting units exceeded their carrying values by approximate amounts between $37,000 and $954,000 , or by amounts between 121% and 189% above the carrying values of their net assets. On January 30, 2020, the World Health Organization (WHO) announced a global health emergency due to an outbreak of COVID-19 originating in Wuhan, China and the risks to the international community as the virus spread globally beyond its point of origin. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. Following the pandemic designation, we observed a decline in the market valuation of our common shares and we determined that the global response to the outbreak negatively impacted our estimates of expected future cash flows. After our consideration of economic, market and industry conditions, cost factors, the overall financial performance of our reporting units and the last quantitative analyses we completed, we concluded that a triggering event had occurred for 2 of our reporting units. As such, we completed quantitative goodwill impairment analyses for our Promotional Solutions and Cloud Solutions Web Hosting reporting units as of March 31, 2020. Our analyses indicated that the goodwill of our Promotional Solutions reporting unit was partially impaired and the goodwill of our Cloud Solutions Web Hosting reporting unit was fully impaired. As such, we recorded goodwill impairment charges of $63,356 and $4,317 , respectively. 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, $62,785 of goodwill remained in the Promotional Solutions reporting unit as of the measurement date. There were no triggering events during the second quarter of 2020 that required us to analyze goodwill for impairment. Other nonrecurring asset impairment analyses – As a result of the impacts of the COVID-19 outbreak, we assessed for impairment certain long-lived assets of our Cloud Solutions Web Hosting reporting unit as of March 31, 2020. As a result of these assessments, we recorded asset impairment charges of $17,678 related to certain customer list, software and trade name intangible assets. With the exception of certain internal-use software assets, we determined that the assets were fully impaired. We utilized the discounted value of estimated future cash flows to estimate the fair value of the asset group. In our analysis, we assumed a revenue decline of 31% and a gross margin decline of 5.2 points in 2020, as well as a discount rate of 9% . During the first quarter of 2020, we assessed for impairment the carrying value of an asset group related to a small business distributor that we previously purchased. Our assessment was the result of customer attrition during the quarter that impacted our projections of future cash flows. Based on our estimate of discounted future cash flows, we determined that the asset group was partially impaired as of February 29, 2020, and we recorded an asset impairment charge of $2,752 , reducing the carrying value of the related customer list intangible asset. In calculating the estimated fair value of the asset group, we assumed no revenue growth, a 1.9 point improvement in gross margin and a discount rate of 11% . Also during the first six months of 2020, we recorded asset impairment charges of $7,110 related to the rationalization of our real estate footprint, as well as internal-use software held for sale as of December 31, 2019 and a small business customer list. These assets were written down to their estimated fair values less costs to sell. Asset impairment analyses completed during the six months ended June 30, 2020 were 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) Cloud Solutions Web Hosting assets: Customer lists $ — $ — $ — $ — $ 8,397 Internal-use software 2,172 — — 2,172 6,932 Other — — — — 2,349 Cloud Solutions Web Hosting assets 17,678 Small business distributor 7,622 — — 7,622 2,752 Other assets 11,210 — — 11,210 7,110 Goodwill 67,673 Total $ 95,213 Recurring fair value measurements – 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, as well as 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 income (loss) and were not significant for the quarters or six months ended June 30, 2020 and 2019 . Information regarding the fair values of our financial instruments was as follows: Fair value measurements using June 30, 2020 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (in thousands) Balance sheet location Carrying value Fair value Measured at fair value through comprehensive income (loss): Cash equivalents Funds held for customers $ 7,000 $ 7,000 $ 7,000 $ — $ — Available-for-sale debt securities Funds held for customers 16,201 16,201 — 16,201 — Derivative liability (Note 6) Other non-current liabilities (8,584 ) (8,584 ) — (8,584 ) — Amortized cost: Cash Cash and cash equivalents 371,951 371,951 371,951 — — Cash Funds held for customers 59,381 59,381 59,381 — — Loans and notes receivable from Safeguard distributors Other current and non-current assets 59,134 57,548 — — 57,548 Long-term debt Long-term debt 1,140,000 1,140,000 — 1,140,000 — Fair value measurements using December 31, 2019 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (in thousands) Balance sheet location Carrying value Fair value Measured at fair value through comprehensive income (loss): Cash equivalents Funds held for customers $ 18,000 $ 18,000 $ 18,000 $ — $ — Available-for-sale debt securities Funds held for customers 16,450 16,450 — 16,450 — Derivative liability (Note 6) Other non-current liabilities (1,480 ) (1,480 ) — (1,480 ) — Amortized cost: Cash Cash and cash equivalents 73,620 73,620 73,620 — — Cash Funds held for customers 83,191 83,191 83,191 — — Loans and notes receivable from Safeguard distributors Other current and non-current assets 70,383 68,887 — — 68,887 Long-term debt Long-term debt 883,500 883,500 — 883,500 —

Restructuring and integration e

Restructuring and integration expense	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and integration expense	Restructuring and integration expense consists of costs related to the consolidation and migration of certain applications and processes, including our financial, sales and human resources management systems. It also includes costs related to the integration of acquired businesses into our systems and processes. These costs consist primarily of information technology consulting, project management services and internal labor, as well as other miscellaneous costs associated with our initiatives, such as training, travel and relocation. 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, 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 is not allocated to our reportable business segments. Restructuring and integration expense is reflected on the consolidated statements of comprehensive income (loss) as follows: Quarter Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Total cost of revenue $ 28 $ 155 $ 857 $ 946 Operating expenses 20,354 17,342 38,008 22,834 Restructuring and integration expense $ 20,382 $ 17,497 $ 38,865 $ 23,780 Restructuring and integration expense for each period was comprised of the following: Quarter Ended Six Months Ended (in thousands) 2020 2019 2020 2019 External consulting fees $ 11,337 $ 10,101 $ 22,238 $ 12,247 Employee severance benefits 5,035 2,697 10,118 4,761 Internal labor 1,128 3,789 2,981 5,850 Other 2,882 910 3,528 922 Restructuring and integration expense $ 20,382 $ 17,497 $ 38,865 $ 23,780 Our restructuring and integration accruals represent expected cash payments required to satisfy the remaining severance obligations to those employees already terminated and those expected to be terminated under our various initiatives. These accruals are included in accrued liabilities on the consolidated balance sheets. The majority of the related employee reductions are expected to be completed in the third quarter of 2020, and we expect most of the related severance payments to be paid by the end of 2020, utilizing cash from operations. Changes in our restructuring and integration accruals were as follows: (in thousands) Employee severance benefits Balance, December 31, 2019 $ 3,459 Charges 10,630 Reversals (512 ) Payments (7,625 ) Balance, June 30, 2020 $ 5,952 The charges and reversals presented in the rollforward of our restructuring and integration accruals do not include items charged directly to expense as incurred, as those items are not reflected in accrued liabilities on the consolidated balance sheets.

Income tax provision

Income tax provision	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax provision	The effective tax rate on pre-tax loss reconciles to the U.S. federal statutory tax rate as follows: Six Months Ended June 30, 2020 Year Ended December 31, 2019 Income tax at federal statutory rate 21.0 % 21.0 % Goodwill impairment charges (27.4 %) (29.3 %) Research and development tax credit (7.1 %) 0.6 % Change in valuation allowances — (4.5 %) Net tax impact of share-based compensation (2.7 %) (1.1 %) Foreign tax rate differences 8.6 % 1.3 % State income tax expense, net of federal income tax benefit 0.5 % 4.9 % Other 2.8 % (0.6 %) Effective tax rate (4.3 %) (7.7 %)

Postretirement benefits

Postretirement benefits	6 Months Ended
	Jun. 30, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Postretirement benefits	We have historically provided certain health care benefits for a large number of retired U.S. employees. In addition to our retiree health care plan, we also have a U.S. supplemental executive retirement plan. 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 2019 Form 10-K. Postretirement benefit income is included in other income on the consolidated statements of comprehensive income (loss) and consisted of the following components: Quarter Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Interest cost $ 478 $ 682 $ 956 $ 1,364 Expected return on plan assets (1,905 ) (1,740 ) (3,809 ) (3,479 ) Amortization of prior service credit (355 ) (355 ) (711 ) (711 ) Amortization of net actuarial losses 575 806 1,150 1,612 Net periodic benefit income $ (1,207 ) $ (607 ) $ (2,414 ) $ (1,214 )

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt outstanding consisted of amounts drawn on our revolving credit facility of $1,140,000 as of June 30, 2020 and $883,500 as of December 31, 2019 . In March 2020, in conjunction with our response to the COVID-19 outbreak, we drew an additional $238,000 on our credit facility given the uncertainty in how the commercial capital and credit markets would operate during the pandemic. As of June 30, 2020 , we held cash and cash equivalents of $371,951 . During July 2020, we repaid $100,000 of the amount drawn under the credit facility. As of June 30, 2020 , the total availability under our revolving credit facility was $1,150,000 . The facility includes an accordion feature allowing us, subject to lender consent, to increase the credit commitment 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 1.90% as of June 30, 2020 and 3.03% as of December 31, 2019 . 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 6. 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 . Additionally, the agreement contains customary representations and warranties including, as a condition to borrowing, that all such representations and warranties are true and correct in all material respects on the date of the borrowing, including representations as to no material adverse change in our business, assets, operations or financial condition. 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. Daily average amounts outstanding under our credit facility were as follows: (in thousands) Six Months Ended June 30, 2020 Year Ended December 31, 2019 Daily average amount outstanding $ 1,034,198 $ 925,715 Weighted-average interest rate 2.29 % 3.54 % The following shows amounts available for borrowing under our revolving credit facility as of June 30, 2020 . In July 2020, we repaid $100,000 of the amount drawn on the facility. This amount remains available to us for borrowing. (in thousands) Total available Revolving credit facility commitment $ 1,150,000 Amount drawn on revolving credit facility (1,140,000 ) Outstanding letters of credit (1) (5,428 ) Net available for borrowing as of June 30, 2020 $ 4,572 (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.

Other commitments and contingen

Other commitments and contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
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. These liabilities were not significant as of June 30, 2020 or December 31, 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 $8,044 as of June 30, 2020 and $7,576 as of December 31, 2019 . 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 June 30, 2020 or December 31, 2019 . 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 periods presented, 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	6 Months Ended
	Jun. 30, 2020
Stockholders' Equity Note [Abstract]
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. No shares were repurchased during the second quarter of 2020. During the first quarter of 2020, we repurchased 499 thousand shares for $14,000 . As of June 30, 2020 , $287,452

Business segment information

Business segment information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Business segment information	For many years, we operated 3 reportable business segments: Small Business Services, Financial Services and Direct Checks. These segments were generally organized by customer type and reflected the way we managed the company. Effective January 1, 2020, we reorganized our reportable business segments to align with structural and management reporting changes in support of our growth strategy. We now operate 4 reportable segments, genrally organized by product type, as follows: • Payments – This segment includes our treasury management solutions, including remittance and lockbox processing, remote deposit capture, receivables management, payment processing and paperless treasury management, in addition to payroll and disbursement services, including Deluxe Payment Exchange and fraud and security services. • Cloud Solutions – This segment includes web hosting and design services, data-driven marketing solutions and hosted solutions, including digital engagement, logo design, financial institution profitability reporting, account switching tools and business incorporation services. • Promotional Solutions – This segment includes business forms, accessories, advertising specialties, promotional apparel, retail packaging and strategic sourcing services. • Checks – This segment includes printed personal and business checks. The accounting policies of the segments are the same as those described in the Notes to Consolidated Financial Statements included in the 2019 Form 10-K. We allocate corporate costs for our shared services functions to our business segments when the costs are directly attributable to a segment. This includes certain sales and marketing, human resources, supply chain, real estate, finance, information technology and legal costs. Costs that are not directly attributable to a business segment are reported as Corporate operations and consist primarily of marketing, accounting, information technology, facilities, executive management and legal, tax and treasury costs that support the corporate function. Corporate operations also includes other income. All of our segments operate primarily in the U.S., with some operations in Canada. In addition, Cloud Solutions has operations in Australia and portions of Europe, as well as partners in Central and South America. Under the new segment structure, our chief operating decision maker (i.e., our Chief Executive Officer) reviews earnings before interest, taxes, depreciation and amortization (EBITDA) on an adjusted basis for each segment when deciding how to allocate resources and to assess segment operating performance. Adjusted EBITDA for each segment excludes depreciation and amortization expense, interest expense, income tax expense and certain other amounts, which may include, from time to time: asset impairment charges; restructuring, integration and other costs; CEO transition costs; share-based compensation expense; acquisition transaction costs; certain legal-related expense; and gains or losses on sales of businesses and customer lists. Our Chief Executive Officer does not review segment asset information when making investment or operating decisions regarding our reportable business segments. The following is our segment information for the quarters and six months ended June 30, 2020 and 2019 . The segment information for 2019 has been revised to reflect our current segment structure. Quarter Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Payments: Revenue $ 72,171 $ 64,104 $ 149,211 $ 129,254 Adjusted EBITDA 15,583 17,972 33,606 34,838 Cloud Solutions: Revenue 53,897 78,914 129,842 157,202 Adjusted EBITDA 14,159 19,086 29,069 36,146 Promotional Solutions: Revenue 117,946 155,545 260,739 311,374 Adjusted EBITDA 13,854 22,288 25,051 45,878 Checks: Revenue 166,391 195,423 357,036 395,221 Adjusted EBITDA 82,724 99,871 173,438 202,105 Total segment: Revenue $ 410,405 $ 493,986 $ 896,828 $ 993,051 Adjusted EBITDA 126,320 159,217 261,164 318,967 The following table presents a reconciliation of total segment adjusted EBITDA to consolidated income (loss) before income taxes: Quarter Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Total segment adjusted EBITDA $ 126,320 $ 159,217 $ 261,164 $ 318,967 Corporate operations (42,502 ) (41,732 ) (94,011 ) (87,774 ) Depreciation and amortization (26,663 ) (32,517 ) (55,093 ) (64,936 ) Interest expense (6,171 ) (9,239 ) (13,171 ) (18,540 ) Pre-tax income attributable to non-controlling interest 26 — 26 — Asset impairment charges (4,883 ) — (95,213 ) — Restructuring, integration and other costs (20,490 ) (17,693 ) (40,123 ) (23,976 ) CEO transition costs (1) (190 ) (1,906 ) (10 ) (7,394 ) Share-based compensation expense (5,477 ) (5,369 ) (9,095 ) (8,660 ) Acquisition transaction costs — (3 ) (9 ) (180 ) Certain legal-related expenses — (6,005 ) 2,164 (6,417 ) Loss on sales of customer lists (18 ) — (18 ) (99 ) Income (loss) before income taxes $ 19,952 $ 44,753 $ (43,389 ) $ 100,991 (1) In 2019, includes adjustments to share-based compensation expense related to the modification of certain awards in conjunction with our CEO transition. The following tables present revenue disaggregated by our product and service offerings. In conjunction with the realignment of our reportable segments on January 1, 2020, we refined the disaggregation of our revenue by product and service offering. As such, certain amounts reported in the prior year have been revised from previously reported amounts. Quarter Ended June 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 166,391 $ 166,391 Forms and other products — — 75,431 — 75,431 Marketing and promotional solutions — — 42,515 — 42,515 Treasury management solutions 54,793 — — — 54,793 Data-driven marketing solutions — 19,422 — — 19,422 Web and hosted solutions — 34,475 — — 34,475 Other payments solutions 17,378 — — — 17,378 Total revenue $ 72,171 $ 53,897 $ 117,946 $ 166,391 $ 410,405 Quarter Ended June 30, 2019 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 195,423 $ 195,423 Forms and other products — — 84,663 — 84,663 Marketing and promotional solutions — — 70,882 — 70,882 Treasury management solutions 45,475 — — — 45,475 Data-driven marketing solutions — 38,796 — — 38,796 Web and hosted solutions — 40,118 — — 40,118 Other payments solutions 18,629 — — — 18,629 Total revenue $ 64,104 $ 78,914 $ 155,545 $ 195,423 $ 493,986 Six Months Ended June 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 357,036 $ 357,036 Forms and other products — — 157,243 — 157,243 Marketing and promotional solutions — — 103,496 — 103,496 Treasury management solutions 111,660 — — — 111,660 Data-driven marketing solutions — 58,419 — — 58,419 Web and hosted solutions — 71,423 — — 71,423 Other payments solutions 37,551 — — — 37,551 Total revenue $ 149,211 $ 129,842 $ 260,739 $ 357,036 $ 896,828 Six Months Ended June 30, 2019 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 395,221 $ 395,221 Forms and other products — — 171,369 — 171,369 Marketing and promotional solutions — — 140,005 — 140,005 Treasury management solutions 90,946 — — — 90,946 Data-driven marketing solutions — 75,580 — — 75,580 Web and hosted solutions — 81,622 — — 81,622 Other payments solutions 38,308 — — — 38,308 Total revenue $ 129,254 $ 157,202 $ 311,374 $ 395,221 $ 993,051 The following tables present revenue disaggregated by geography, based on where items are shipped from or where services are performed: Quarter Ended June 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 64,230 $ 46,091 $ 113,757 $ 161,801 $ 385,879 Foreign, primarily Canada and Australia 7,941 7,806 4,189 4,590 24,526 Total revenue $ 72,171 $ 53,897 $ 117,946 $ 166,391 $ 410,405 Quarter Ended June 30, 2019 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 56,098 $ 70,178 $ 148,290 $ 189,818 $ 464,384 Foreign, primarily Canada and Australia 8,006 8,736 7,255 5,605 29,602 Total revenue $ 64,104 $ 78,914 $ 155,545 $ 195,423 $ 493,986 Six Months Ended June 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 132,588 $ 114,161 $ 250,570 $ 346,096 $ 843,415 Foreign, primarily Canada and Australia 16,623 15,681 10,169 10,940 53,413 Total revenue $ 149,211 $ 129,842 $ 260,739 $ 357,036 $ 896,828 Six Months Ended June 30, 2019 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 113,042 $ 139,629 $ 297,713 $ 383,905 $ 934,289 Foreign, primarily Canada and Australia 16,212 17,573 13,661 11,316 58,762 Total revenue $ 129,254 $ 157,202 $ 311,374 $ 395,221 $ 993,051

Risks and uncertainties

Risks and uncertainties	6 Months Ended
	Jun. 30, 2020
Risks and Uncertainties [Abstract]
Risks and uncertainties COVID-19	The impact on our business of the COVID-19 outbreak continues to evolve. As such, we are uncertain of the impact on our future financial condition, liquidity and results of operations. This uncertainty affected several of the assumptions made and estimates used in the preparation of these consolidated financial statements. As discussed in Note 7, the COVID-19 outbreak resulted in a goodwill impairment triggering event during the first quarter of 2020, as the adverse economic effects of the outbreak materially decreased demand for the products and services we provide to our customers, particularly through our Promotional Solutions and Cloud Solutions segments. The extent to which the outbreak will continue to impact our business depends on future developments, including the severity and duration of the outbreak, business and workforce disruptions and the ultimate number of businesses that fail. Our evaluation of asset impairment required us to make assumptions about these future events over the life of the assets being evaluated. This required significant judgment and actual results may differ significantly from our estimates. As a result of the continuing effects of COVID-19, we may be required to record additional goodwill or other asset impairment charges in the future. We held loans and notes receivable from our Safeguard distributors of $59,134 as of June 30, 2020 . These distributors sell their products and services primarily to small businesses, which have been significantly impacted by the COVID-19 outbreak. As of June 30, 2020 , our allowance for expected credit losses on these receivables was $11,656

New accounting pronouncements (

New accounting pronouncements (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New accounting pronouncements	Recently Adopted Accounting Standards ASU No. 2016-13 – In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments . Subsequently, the FASB issued several amendments to this standard. These standards replace the incurred loss methodology previously utilized for valuing financial instruments with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected losses under the CECL methodology is applicable to financial instruments measured at amortized cost, including accounts and notes receivable. The standards also made targeted changes to the accounting for available-for-sale debt securities. We adopted the standards on January 1, 2020 using the modified retrospective method for financial instruments measured at amortized cost. Under this method, prior period amounts continue to be reported in accordance with previously applicable GAAP. We recorded a net decrease in retained earnings of $3,640 as of January 1, 2020 for the cumulative effect of adopting the standards, which consisted primarily of an increase in the allowance for credit losses on loans and notes receivable, net of the related deferred income tax impact. We recorded no allowance for credit losses related to our available-for-sale debt securities. Further information regarding these investments can be found in Note 3. An allowance for uncollectible accounts is a valuation account that is deducted from an asset's amortized cost basis to present the net amount expected to be collected. Amounts are charged off against the allowance when we believe the uncollectibility of an account is confirmed. In calculating the allowances related to trade accounts receivable and revenue in excess of billings, we utilize a combination of aging schedules with reserve rates applied to both current and aged receivables and roll-rate reserves using historical loss rates and changes in current or projected conditions. In determining the allowance for uncollectible accounts related to loans and notes receivable from distributors, we utilize a loss-rate analysis based on historical loss information, current delinquency rates, the credit quality of the loan recipients and the portfolio mix to determine an appropriate credit risk measurement, adjusted to reflect current loan-specific risk characteristics and changes in environmental conditions affecting our small business distributors. Changes in conditions that may affect our distributors include, but are not limited to, general economic conditions, changes in the markets for their products and services and changes in governmental regulations. In completing our analysis, we utilize a reversion methodology for periods beyond the reasonable and supportable forecast period, as many of our loans and notes receivable have longer terms. Further information regarding current risks and uncertainties affecting our loans and notes receivable can be found in Note 15. Further information regarding our allowances for uncollectible accounts can be found in Note 3. Our trade accounts receivable and unbilled receivables are not interest-bearing. Interest rates on our loans and notes receivable generally range from 6% to 8% and reflect market interest rates at the time the transactions were executed. Accrued interest included in loans and notes receivable is not significant. 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 were effective for us on January 1, 2020 and are required to be applied prospectively to fair value measurements completed on or after that date. Disclosures regarding our fair value measurements can be found in Note 7. 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. We adopted this standard on January 1, 2020, applying it prospectively to eligible costs incurred on or after this date. Adoption of this standard did impact our results of operations and financial position, as we previously expensed these implementation costs as incurred. As of June 30, 2020 , $12,166 of cloud computing implementation costs were included within other non-current assets on the consolidated balance sheet. These costs primarily relate to our planned implementation of a new enterprise resource planning system.

Supplemental balance sheet an_2

Supplemental balance sheet and cash flow information (Tables)	6 Months Ended
	Jun. 30, 2020
Inventories and supplies	Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) June 30, December 31, Raw materials $ 7,001 $ 6,977 Semi-finished goods 7,070 7,368 Finished goods 30,082 21,982 Supplies 3,372 3,594 Inventories and supplies $ 47,525 $ 39,921
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: June 30, 2020 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 7,000 $ — $ — $ 7,000 Canadian and provincial government securities 8,732 126 — 8,858 Canadian guaranteed investment certificates 7,343 — — 7,343 Available-for-sale debt securities $ 23,075 $ 126 $ — $ 23,201 (1) Funds held for customers, as reported on the consolidated balance sheet as of June 30, 2020 , also included cash of $59,381 . December 31, 2019 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 18,000 $ — $ — $ 18,000 Canadian and provincial government securities 9,056 — (304 ) 8,752 Canadian guaranteed investment certificates 7,698 — — 7,698 Available-for-sale debt securities $ 34,754 $ — $ (304 ) $ 34,450 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2019 , also included cash of $83,191 .
Expected maturities of available-for-sale debt securities	Expected maturities of available-for-sale debt securities as of June 30, 2020 were as follows: (in thousands) Fair value Due in one year or less $ 16,318 Due in two to five years 2,861 Due in six to ten years 4,022 Available-for-sale debt securities $ 23,201
Revenue in excess of billings	Revenue in excess of billings – Upon adoption of ASU No. 2016-13 and related amendments on January 1, 2020 (Note 2), we recorded an allowance for uncollectible accounts related to revenue in excess of billings. This allowance was not significant upon adoption or as of June 30, 2020 . Revenue in excess of billings, net of the allowance for uncollectible acounts, was comprised of the following: (in thousands) June 30, December 31, Conditional right to receive consideration $ 16,839 $ 24,499 Unconditional right to receive consideration 8,175 8,291 Revenue in excess of billings $ 25,014 $ 32,790
Intangibles	Intangibles – Intangibles were comprised of the following: June 30, 2020 December 31, 2019 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Amortizable intangibles: Internal-use software $ 397,913 $ (321,204 ) $ 76,709 $ 380,905 $ (299,698 ) $ 81,207 Customer lists/relationships 310,282 (181,761 ) 128,521 348,055 (187,462 ) 160,593 Software to be sold 36,900 (21,770 ) 15,130 36,900 (19,657 ) 17,243 Technology-based intangibles 34,613 (25,313 ) 9,300 34,780 (22,122 ) 12,658 Trade names 29,952 (28,867 ) 1,085 32,505 (28,084 ) 4,421 Intangibles $ 809,660 $ (578,915 ) $ 230,745 $ 833,145 $ (557,023 ) $ 276,122
Estimated future amortization expense	Based on the intangibles in service as of June 30, 2020 , estimated future amortization expense is as follows: (in thousands) Estimated amortization expense Remainder of 2020 $ 45,590 2021 70,492 2022 50,044 2023 30,139 2024 15,616
Acquired intangibles	The following intangibles were acquired during the six months ended June 30, 2020 : (in thousands) Amount Weighted-average amortization period (in years) Internal-use software $ 20,286 3 Customer lists/relationships 735 5 Acquired intangibles $ 21,021 4
Goodwill	Goodwill – Changes in goodwill by reportable segment and in total for the six months ended June 30, 2020 were as follows : (in thousands) Payments Cloud Solutions Promotional Solutions Checks Total Balance, December 31, 2019: Goodwill, gross $ 168,165 $ 432,984 $ 252,834 $ 434,812 $ 1,288,795 Accumulated impairment charges — (357,741 ) (126,567 ) — (484,308 ) Goodwill, net of accumulated impairment charges 168,165 75,243 126,267 434,812 804,487 Impairment charges (Note 7) — (4,317 ) (63,356 ) — (67,673 ) Currency translation adjustment — — (66 ) — (66 ) Balance, June 30, 2020 $ 168,165 $ 70,926 $ 62,845 $ 434,812 $ 736,748 Balance, June 30, 2020: Goodwill, gross $ 168,165 $ 432,984 $ 252,768 $ 434,812 $ 1,288,729 Accumulated impairment charges — (362,058 ) (189,923 ) — (551,981 ) Goodwill, net of accumulated impairment charges $ 168,165 $ 70,926 $ 62,845 $ 434,812 $ 736,748
Other non-current assets	Other non-current assets – Other non-current assets were comprised of the following: (in thousands) June 30, December 31, Postretirement benefit plan asset $ 59,457 $ 56,743 Loans and notes receivable from Safeguard distributors, net of allowance for doubtful accounts (1) 55,255 66,872 Prepaid product discounts 43,541 51,145 Cloud computing arrangements 12,166 — Deferred sales commissions (2) 10,789 9,682 Other 21,892 16,308 Other non-current assets $ 203,100 $ 200,750 (1) Amount Includes the non-current portion of loans and note receivables. The current portion of these receivables is included in other current assets on the consolidated balance sheets and was $3,879 as of June 30, 2020 and $3,511 as of December 31, 2019 . (2) Amortization of deferred sales commissions was $1,817 for the six months ended June 30, 2020 and $1,464 for the six months ended June 30, 2019 .
Loans and notes receivable by credit quality Indicator	The following table presents loans and notes receivable from Safeguard distributors, including the current portion, by credit quality indicator and by year of origination, as of June 30, 2020 . There were no write-offs or recoveries recorded during the six months ended June 30, 2020 . Loans and notes receivable from distributors amortized cost basis by origination year (in thousands) 2020 2019 2018 2017 2016 Prior Total Risk rating: 1-2 internal grade $ 1,386 $ 3,876 $ 24,310 $ 22,779 $ 220 $ 4,386 $ 56,957 3-4 internal grade — 2,553 7,508 — — 3,772 13,833 Loans and notes receivable $ 1,386 $ 6,429 $ 31,818 $ 22,779 $ 220 $ 8,158 $ 70,790
Changes in prepaid product discounts	Changes in prepaid product discounts during the six months ended June 30, 2020 and 2019 were as follows: Six Months Ended June 30, (in thousands) 2020 2019 Balance, beginning of year $ 51,145 $ 54,642 Additions (1) 7,195 12,405 Amortization (14,174 ) (11,681 ) Other (625 ) (447 ) Balance, end of period $ 43,541 $ 54,919 (1) Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $15,806 for the six months ended June 30, 2020 and $16,182 for the six months ended June 30, 2019 .
Accrued liabilities	Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) June 30, December 31, Deferred revenue (1) $ 43,271 $ 46,098 Employee cash bonuses 21,648 36,918 Wages 17,389 6,937 Operating lease liabilities 14,320 12,898 Prepaid product discounts due within one year 8,810 14,709 Other 68,772 61,778 Accrued liabilities $ 174,210 $ 179,338 (1) $30,594 of the December 31, 2019 amount was recognized as revenue during the six months ended June 30, 2020 .
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) June 30, June 30, Cash and cash equivalents $ 371,951 $ 66,732 Restricted cash and restricted cash equivalents included in funds held for customers 66,381 77,326 Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 438,332 $ 144,058
Trade accounts receivable [Member]
Allowance for uncollectible accounts	Trade accounts receivable – Changes in the allowance for uncollectible accounts included within trade accounts receivable for the six months ended June 30, 2020 and 2019 were as follows: Six Months Ended June 30, (in thousands) 2020 2019 Balance, beginning of year $ 4,985 $ 3,639 Bad debt expense 3,374 2,549 Write-offs and other (1,633 ) (1,669 ) Balance, end of period $ 6,726 $ 4,519
Loans and notes receivable [Member]
Allowance for uncollectible accounts	Upon adoption of ASU No. 2016-13 and related amendments on January 1, 2020 (Note 2), we recorded an additional allowance for uncollectible accounts related to loans and notes receivable from Safeguard distributors. Changes in this allowance for the six months ended June 30, 2020 and 2019 were as follows: Six Months Ended June 30, (in thousands) 2020 2019 Balance, beginning of year $ 284 $ 284 Adoption of ASU No. 2016-13 (Note 2) 4,749 — Bad debt expense 6,623 — Balance, end of period $ 11,656 $ 284

Earnings (loss) per share (Tabl

Earnings (loss) per share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings (loss) per share	The following table reflects the calculation of basic and diluted earnings (loss) per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted earnings (loss) per share because their effect would have been antidilutive. Quarter Ended Six Months Ended (in thousands, except per share amounts) 2020 2019 2020 2019 Earnings (loss) per share – basic: Net income (loss) $ 14,878 $ 32,582 $ (45,253 ) $ 73,772 Net income attributable to non-controlling interest (19 ) — (19 ) — Net income (loss) attributable to Deluxe 14,859 32,582 (45,272 ) 73,772 Income allocated to participating securities (13 ) (60 ) (32 ) (170 ) Income (loss) attributable to Deluxe available to common shareholders $ 14,846 $ 32,522 $ (45,304 ) $ 73,602 Weighted-average shares outstanding 41,797 43,400 41,946 43,697 Earnings (loss) per share – basic $ 0.36 $ 0.75 $ (1.08 ) $ 1.68 Earnings (loss) per share – diluted: Net income (loss) $ 14,878 $ 32,582 $ (45,253 ) $ 73,772 Net income attributable to non-controlling interest (19 ) — (19 ) — Net income (loss) attributable to Deluxe 14,859 32,582 (45,272 ) 73,772 Income allocated to participating securities — (10 ) (32 ) (76 ) Re-measurement of share-based awards classified as liabilities (79 ) (44 ) (853 ) (44 ) Income (loss) attributable to Deluxe available to common shareholders $ 14,780 $ 32,528 $ (46,157 ) $ 73,652 Weighted-average shares outstanding 41,797 43,400 41,946 43,697 Dilutive impact of potential common shares 151 154 40 127 Weighted-average shares and potential common shares outstanding 41,948 43,554 41,986 43,824 Earnings (loss) per share – diluted $ 0.35 $ 0.75 $ (1.10 ) $ 1.68 Antidilutive options excluded from calculation 2,133 1,439 2,199 1,439

Other comprehensive income (l_2

Other comprehensive income (loss) (Tables)	6 Months Ended
	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Reclassification adjustments	Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net income (loss) was as follows: Accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affected line item in consolidated statements of comprehensive income (loss) Quarter Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Realized loss on interest rate swap $ (281 ) $ — $ (188 ) $ — Interest expense Tax benefit 73 — 49 — Income tax provision Realized loss on interest rate swap, net of tax (208 ) — (139 ) — Net income Amortization of postretirement benefit plan items: Prior service credit 355 355 711 711 Other income Net actuarial loss (575 ) (806 ) (1,150 ) (1,612 ) Other income Total amortization (220 ) (451 ) (439 ) (901 ) Other income Tax benefit 12 71 23 140 Income tax provision Amortization of postretirement benefit plan items, net of tax (208 ) (380 ) (416 ) (761 ) Net income Total reclassifications, net of tax $ (416 ) $ (380 ) $ (555 ) $ (761 )
Accumulated other comprehensive loss	Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the six months ended June 30, 2020 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, 2019 $ (28,406 ) $ (275 ) $ (1,097 ) $ (18,169 ) $ (47,947 ) Other comprehensive income (loss) before reclassifications — 308 (5,395 ) (3,300 ) (8,387 ) Amounts reclassified from accumulated other comprehensive loss 416 — 139 — 555 Net current-period other comprehensive income (loss) 416 308 (5,256 ) (3,300 ) (7,832 ) Balance, June 30, 2020 $ (27,990 ) $ 33 $ (6,353 ) $ (21,469 ) $ (55,779 ) (1) Other comprehensive income before reclassifications is net of income tax expense of $107 . (2) Other comprehensive loss before reclassifications is net of an income tax benefit of $1,897 .

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair value measurements	Asset impairment analyses completed during the six months ended June 30, 2020 were 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) Cloud Solutions Web Hosting assets: Customer lists $ — $ — $ — $ — $ 8,397 Internal-use software 2,172 — — 2,172 6,932 Other — — — — 2,349 Cloud Solutions Web Hosting assets 17,678 Small business distributor 7,622 — — 7,622 2,752 Other assets 11,210 — — 11,210 7,110 Goodwill 67,673 Total $ 95,213
Fair value of financial instruments	Information regarding the fair values of our financial instruments was as follows: Fair value measurements using June 30, 2020 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (in thousands) Balance sheet location Carrying value Fair value Measured at fair value through comprehensive income (loss): Cash equivalents Funds held for customers $ 7,000 $ 7,000 $ 7,000 $ — $ — Available-for-sale debt securities Funds held for customers 16,201 16,201 — 16,201 — Derivative liability (Note 6) Other non-current liabilities (8,584 ) (8,584 ) — (8,584 ) — Amortized cost: Cash Cash and cash equivalents 371,951 371,951 371,951 — — Cash Funds held for customers 59,381 59,381 59,381 — — Loans and notes receivable from Safeguard distributors Other current and non-current assets 59,134 57,548 — — 57,548 Long-term debt Long-term debt 1,140,000 1,140,000 — 1,140,000 — Fair value measurements using December 31, 2019 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (in thousands) Balance sheet location Carrying value Fair value Measured at fair value through comprehensive income (loss): Cash equivalents Funds held for customers $ 18,000 $ 18,000 $ 18,000 $ — $ — Available-for-sale debt securities Funds held for customers 16,450 16,450 — 16,450 — Derivative liability (Note 6) Other non-current liabilities (1,480 ) (1,480 ) — (1,480 ) — Amortized cost: Cash Cash and cash equivalents 73,620 73,620 73,620 — — Cash Funds held for customers 83,191 83,191 83,191 — — Loans and notes receivable from Safeguard distributors Other current and non-current assets 70,383 68,887 — — 68,887 Long-term debt Long-term debt 883,500 883,500 — 883,500 —

Restructuring and integration_2

Restructuring and integration expense (Tables)	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and integration expense	Restructuring and integration expense is reflected on the consolidated statements of comprehensive income (loss) as follows: Quarter Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Total cost of revenue $ 28 $ 155 $ 857 $ 946 Operating expenses 20,354 17,342 38,008 22,834 Restructuring and integration expense $ 20,382 $ 17,497 $ 38,865 $ 23,780 Restructuring and integration expense for each period was comprised of the following: Quarter Ended Six Months Ended (in thousands) 2020 2019 2020 2019 External consulting fees $ 11,337 $ 10,101 $ 22,238 $ 12,247 Employee severance benefits 5,035 2,697 10,118 4,761 Internal labor 1,128 3,789 2,981 5,850 Other 2,882 910 3,528 922 Restructuring and integration expense $ 20,382 $ 17,497 $ 38,865 $ 23,780
Changes in restructuring and integration accruals	Changes in our restructuring and integration accruals were as follows: (in thousands) Employee severance benefits Balance, December 31, 2019 $ 3,459 Charges 10,630 Reversals (512 ) Payments (7,625 ) Balance, June 30, 2020 $ 5,952

Income tax provision (Tables)

Income tax provision (Tables)	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation	The effective tax rate on pre-tax loss reconciles to the U.S. federal statutory tax rate as follows: Six Months Ended June 30, 2020 Year Ended December 31, 2019 Income tax at federal statutory rate 21.0 % 21.0 % Goodwill impairment charges (27.4 %) (29.3 %) Research and development tax credit (7.1 %) 0.6 % Change in valuation allowances — (4.5 %) Net tax impact of share-based compensation (2.7 %) (1.1 %) Foreign tax rate differences 8.6 % 1.3 % State income tax expense, net of federal income tax benefit 0.5 % 4.9 % Other 2.8 % (0.6 %) Effective tax rate (4.3 %) (7.7 %)

Postretirement benefits (Tables

Postretirement benefits (Tables)	6 Months Ended
	Jun. 30, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Components of net periodic benefit income	Postretirement benefit income is included in other income on the consolidated statements of comprehensive income (loss) and consisted of the following components: Quarter Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Interest cost $ 478 $ 682 $ 956 $ 1,364 Expected return on plan assets (1,905 ) (1,740 ) (3,809 ) (3,479 ) Amortization of prior service credit (355 ) (355 ) (711 ) (711 ) Amortization of net actuarial losses 575 806 1,150 1,612 Net periodic benefit income $ (1,207 ) $ (607 ) $ (2,414 ) $ (1,214 )

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Credit facility	Daily average amounts outstanding under our credit facility were as follows: (in thousands) Six Months Ended June 30, 2020 Year Ended December 31, 2019 Daily average amount outstanding $ 1,034,198 $ 925,715 Weighted-average interest rate 2.29 % 3.54 % The following shows amounts available for borrowing under our revolving credit facility as of June 30, 2020 . In July 2020, we repaid $100,000 of the amount drawn on the facility. This amount remains available to us for borrowing. (in thousands) Total available Revolving credit facility commitment $ 1,150,000 Amount drawn on revolving credit facility (1,140,000 ) Outstanding letters of credit (1) (5,428 ) Net available for borrowing as of June 30, 2020 $ 4,572 (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.

Business segment information (T

Business segment information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Business segment information	The following is our segment information for the quarters and six months ended June 30, 2020 and 2019 . The segment information for 2019 has been revised to reflect our current segment structure. Quarter Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Payments: Revenue $ 72,171 $ 64,104 $ 149,211 $ 129,254 Adjusted EBITDA 15,583 17,972 33,606 34,838 Cloud Solutions: Revenue 53,897 78,914 129,842 157,202 Adjusted EBITDA 14,159 19,086 29,069 36,146 Promotional Solutions: Revenue 117,946 155,545 260,739 311,374 Adjusted EBITDA 13,854 22,288 25,051 45,878 Checks: Revenue 166,391 195,423 357,036 395,221 Adjusted EBITDA 82,724 99,871 173,438 202,105 Total segment: Revenue $ 410,405 $ 493,986 $ 896,828 $ 993,051 Adjusted EBITDA 126,320 159,217 261,164 318,967
Reconciliation of adjusted EBITDA to pretax income (loss)	The following table presents a reconciliation of total segment adjusted EBITDA to consolidated income (loss) before income taxes: Quarter Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Total segment adjusted EBITDA $ 126,320 $ 159,217 $ 261,164 $ 318,967 Corporate operations (42,502 ) (41,732 ) (94,011 ) (87,774 ) Depreciation and amortization (26,663 ) (32,517 ) (55,093 ) (64,936 ) Interest expense (6,171 ) (9,239 ) (13,171 ) (18,540 ) Pre-tax income attributable to non-controlling interest 26 — 26 — Asset impairment charges (4,883 ) — (95,213 ) — Restructuring, integration and other costs (20,490 ) (17,693 ) (40,123 ) (23,976 ) CEO transition costs (1) (190 ) (1,906 ) (10 ) (7,394 ) Share-based compensation expense (5,477 ) (5,369 ) (9,095 ) (8,660 ) Acquisition transaction costs — (3 ) (9 ) (180 ) Certain legal-related expenses — (6,005 ) 2,164 (6,417 ) Loss on sales of customer lists (18 ) — (18 ) (99 ) Income (loss) before income taxes $ 19,952 $ 44,753 $ (43,389 ) $ 100,991
Revenue disaggregated by product and service offerings	The following tables present revenue disaggregated by our product and service offerings. In conjunction with the realignment of our reportable segments on January 1, 2020, we refined the disaggregation of our revenue by product and service offering. As such, certain amounts reported in the prior year have been revised from previously reported amounts. Quarter Ended June 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 166,391 $ 166,391 Forms and other products — — 75,431 — 75,431 Marketing and promotional solutions — — 42,515 — 42,515 Treasury management solutions 54,793 — — — 54,793 Data-driven marketing solutions — 19,422 — — 19,422 Web and hosted solutions — 34,475 — — 34,475 Other payments solutions 17,378 — — — 17,378 Total revenue $ 72,171 $ 53,897 $ 117,946 $ 166,391 $ 410,405 Quarter Ended June 30, 2019 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 195,423 $ 195,423 Forms and other products — — 84,663 — 84,663 Marketing and promotional solutions — — 70,882 — 70,882 Treasury management solutions 45,475 — — — 45,475 Data-driven marketing solutions — 38,796 — — 38,796 Web and hosted solutions — 40,118 — — 40,118 Other payments solutions 18,629 — — — 18,629 Total revenue $ 64,104 $ 78,914 $ 155,545 $ 195,423 $ 493,986 Six Months Ended June 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 357,036 $ 357,036 Forms and other products — — 157,243 — 157,243 Marketing and promotional solutions — — 103,496 — 103,496 Treasury management solutions 111,660 — — — 111,660 Data-driven marketing solutions — 58,419 — — 58,419 Web and hosted solutions — 71,423 — — 71,423 Other payments solutions 37,551 — — — 37,551 Total revenue $ 149,211 $ 129,842 $ 260,739 $ 357,036 $ 896,828 Six Months Ended June 30, 2019 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 395,221 $ 395,221 Forms and other products — — 171,369 — 171,369 Marketing and promotional solutions — — 140,005 — 140,005 Treasury management solutions 90,946 — — — 90,946 Data-driven marketing solutions — 75,580 — — 75,580 Web and hosted solutions — 81,622 — — 81,622 Other payments solutions 38,308 — — — 38,308 Total revenue $ 129,254 $ 157,202 $ 311,374 $ 395,221 $ 993,051
Revenue disaggregated by geography	The following tables present revenue disaggregated by geography, based on where items are shipped from or where services are performed: Quarter Ended June 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 64,230 $ 46,091 $ 113,757 $ 161,801 $ 385,879 Foreign, primarily Canada and Australia 7,941 7,806 4,189 4,590 24,526 Total revenue $ 72,171 $ 53,897 $ 117,946 $ 166,391 $ 410,405 Quarter Ended June 30, 2019 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 56,098 $ 70,178 $ 148,290 $ 189,818 $ 464,384 Foreign, primarily Canada and Australia 8,006 8,736 7,255 5,605 29,602 Total revenue $ 64,104 $ 78,914 $ 155,545 $ 195,423 $ 493,986 Six Months Ended June 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 132,588 $ 114,161 $ 250,570 $ 346,096 $ 843,415 Foreign, primarily Canada and Australia 16,623 15,681 10,169 10,940 53,413 Total revenue $ 149,211 $ 129,842 $ 260,739 $ 357,036 $ 896,828 Six Months Ended June 30, 2019 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 113,042 $ 139,629 $ 297,713 $ 383,905 $ 934,289 Foreign, primarily Canada and Australia 16,212 17,573 13,661 11,316 58,762 Total revenue $ 129,254 $ 157,202 $ 311,374 $ 395,221 $ 993,051

New accounting pronouncements_2

New accounting pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
New accounting pronouncements [Line Items]
Retained earnings	$ 494,243	$ 572,596
Cloud computing implementation costs	$ 12,166	0
Minimum [Member]
New accounting pronouncements [Line Items]
Interest rate, loans and notes receivable	6.00%
Maximum [Member]
New accounting pronouncements [Line Items]
Interest rate, loans and notes receivable	8.00%
Accounting Standards Update No. 2016-13 [Member] | Adoption of Accounting Standards Update [Member]
New accounting pronouncements [Line Items]
Retained earnings		$ (3,640)

Supplemental balance sheet an_3

Supplemental balance sheet and cash flow information (allowances for uncollectible accounts, inventories and supplies) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Accounts receivable, allowance for uncollectible accounts [Roll Forward]
Balance, beginning of year	$ 4,985	$ 3,639
Bad debt expense	3,374	2,549
Write-offs and other	(1,633)	(1,669)
Balance, end of period	6,726	$ 4,519
Inventories and supplies
Raw materials	7,001		$ 6,977
Semi-finished goods	7,070		7,368
Finished goods	30,082		21,982
Supplies	3,372		3,594
Inventories and supplies	$ 47,525		$ 39,921

Supplemental balance sheet an_4

Supplemental balance sheet and cash flow information (available-for-sale debt securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2020		Dec. 31, 2019
Available-for-sale debt securities [Line Items]
Cost	$ 23,075		$ 34,754
Gross unrealized gains	126		0
Gross unrealized losses	0		(304)
Fair value	23,201		34,450
Cash	371,951		73,620
Expected maturities of available-for-sale debt securities
Due in one year or less	16,318
Due in two to five years	2,861
Due in six to ten years	4,022
Fair value	23,201		34,450
Funds held for customers [Member]
Available-for-sale debt securities [Line Items]
Cost	23,075	[1]	34,754	[2]
Gross unrealized gains	126	[1]	0	[2]
Gross unrealized losses	0	[1]	(304)	[2]
Fair value	23,201	[1]	34,450	[2]
Cash	59,381		83,191
Expected maturities of available-for-sale debt securities
Fair value	23,201	[1]	34,450	[2]
Funds held for customers [Member] | Money market securities [Member] | Domestic [Member]
Available-for-sale debt securities [Line Items]
Cost	7,000		18,000
Gross unrealized gains	0		0
Gross unrealized losses	0		0
Fair value	7,000		18,000
Expected maturities of available-for-sale debt securities
Fair value	7,000		18,000
Funds held for customers [Member] | Canadian and provincial government securities [Member]
Available-for-sale debt securities [Line Items]
Cost	8,732		9,056
Gross unrealized gains	126		0
Gross unrealized losses	0		(304)
Fair value	8,858		8,752
Expected maturities of available-for-sale debt securities
Fair value	8,858		8,752
Funds held for customers [Member] | Canadian guaranteed investment certificates [Member]
Available-for-sale debt securities [Line Items]
Cost	7,343		7,698
Gross unrealized gains	0		0
Gross unrealized losses	0		0
Fair value	7,343		7,698
Expected maturities of available-for-sale debt securities
Fair value	$ 7,343		$ 7,698
[1]	Funds held for customers, as reported on the consolidated balance sheet as of June 30, 2020 , also included cash of $59,381 .
[2]	Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2019 , also included cash of $83,191 .

Supplemental balance sheet an_5

Supplemental balance sheet and cash flow information (revenue in excess of billings) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Revenue in excess of billings
Conditional right to receive consideration	$ 16,839	$ 24,499
Unconditional right to receive consideration	8,175	8,291
Revenue in excess of billings	$ 25,014	$ 32,790

Supplemental balance sheet an_6

Supplemental balance sheet and cash flow information (intangibles) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Amortizable intangibles [Line Items]
Gross carrying amount	$ 809,660		$ 809,660		$ 833,145
Accumulated amortization	(578,915)		(578,915)		(557,023)
Net carrying amount	230,745		230,745		276,122
Acquired intangibles			$ 21,021
Acquired intangibles, weighted-average amortization period (in years)			4 years
Amortization of intangibles	21,529	$ 28,314	$ 45,040	$ 56,488
Estimated future amortization expense
Remainder of 2020	45,590		45,590
2021	70,492		70,492
2022	50,044		50,044
2023	30,139		30,139
2024	15,616		15,616
Internal-use software [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	397,913		397,913		380,905
Accumulated amortization	(321,204)		(321,204)		(299,698)
Net carrying amount	76,709		76,709		81,207
Acquired intangibles			$ 20,286
Acquired intangibles, weighted-average amortization period (in years)			3 years
Customer lists/relationships [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	310,282		$ 310,282		348,055
Accumulated amortization	(181,761)		(181,761)		(187,462)
Net carrying amount	128,521		128,521		160,593
Acquired intangibles			$ 735
Acquired intangibles, weighted-average amortization period (in years)			5 years
Software to be sold [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	36,900		$ 36,900		36,900
Accumulated amortization	(21,770)		(21,770)		(19,657)
Net carrying amount	15,130		15,130		17,243
Technology-based intangibles [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	34,613		34,613		34,780
Accumulated amortization	(25,313)		(25,313)		(22,122)
Net carrying amount	9,300		9,300		12,658
Trade names [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	29,952		29,952		32,505
Accumulated amortization	(28,867)		(28,867)		(28,084)
Net carrying amount	$ 1,085		$ 1,085		$ 4,421

Supplemental balance sheet an_7

Supplemental balance sheet and cash flow information (goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2020
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	$ 1,288,795	$ 1,288,795
Accumulated impairment charges, beginning of year	(484,308)	(484,308)
Goodwill, net of accumulated impairment charges, beginning of year	804,487	804,487
Impairment charges (Note 7)	(67,673)	(67,673)
Currency translation adjustment		(66)
Goodwill, gross, end of period		1,288,729
Accumulated impairment charges, end of period		(551,981)
Goodwill, net of accumulated impairment charges, end of period		736,748
Reportable business segments [Member] | Payments [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	168,165	168,165
Accumulated impairment charges, beginning of year	0	0
Goodwill, net of accumulated impairment charges, beginning of year	168,165	168,165
Goodwill, gross, end of period		168,165
Accumulated impairment charges, end of period		0
Goodwill, net of accumulated impairment charges, end of period		168,165
Reportable business segments [Member] | Cloud Solutions [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	432,984	432,984
Accumulated impairment charges, beginning of year	(357,741)	(357,741)
Goodwill, net of accumulated impairment charges, beginning of year	75,243	75,243
Impairment charges (Note 7)		(4,317)
Goodwill, gross, end of period		432,984
Accumulated impairment charges, end of period		(362,058)
Goodwill, net of accumulated impairment charges, end of period		70,926
Reportable business segments [Member] | Promotional Solutions [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	252,834	252,834
Accumulated impairment charges, beginning of year	(126,567)	(126,567)
Goodwill, net of accumulated impairment charges, beginning of year	126,267	126,267
Impairment charges (Note 7)		(63,356)
Currency translation adjustment		(66)
Goodwill, gross, end of period		252,768
Accumulated impairment charges, end of period		(189,923)
Goodwill, net of accumulated impairment charges, end of period		62,845
Reportable business segments [Member] | Checks [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	434,812	434,812
Accumulated impairment charges, beginning of year	0	0
Goodwill, net of accumulated impairment charges, beginning of year	$ 434,812	434,812
Goodwill, gross, end of period		434,812
Accumulated impairment charges, end of period		0
Goodwill, net of accumulated impairment charges, end of period		$ 434,812

Supplemental balance sheet an_8

Supplemental balance sheet and cash flow information (other non-current assets, accrued liabilities) (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
Other non-current assets
Postretirement benefit plan asset				$ 59,457	$ 56,743
Loans and notes receivable from Safeguard distributors	[1]			55,255	66,872
Prepaid product discounts		$ 43,541	$ 54,919	43,541	51,145
Cloud computing arragements				12,166	0
Deferred sales commissions	[2]			10,789	9,682
Other				21,892	16,308
Other non-current assets				203,100	200,750
Amortization of deferred sales commissions		1,817	1,464
Prepaid product discounts [Roll Forward]
Balance, beginning of year		51,145	54,642
Additions	[3]	7,195	12,405
Amortization		(14,174)	(11,681)
Other		(625)	(447)
Balance, end of period		43,541	54,919
Prepaid product discount payments		15,806	16,182
Accrued liabilities
Deferred revenue	[4]			43,271	46,098
Employee cash bonuses				21,648	36,918
Wages				17,389	6,937
Operating lease liabilities				14,320	12,898
Prepaid product discounts due within one year				8,810	14,709
Other				68,772	61,778
Accrued liabilities				174,210	179,338
Deferred revenue recognized		30,594
Loans and notes receivable from distributors [Member]
Loans and notes receivable from distributors [Line Items]
Loans and notes receivable, current				3,879	$ 3,511
Balance, beginning of year		284	284
Bad debt expense		6,623	0
Balance, end of period		11,656	$ 284
Loans and notes receivable form distributors by credit quality indicator
Write-offs		0
Recoveries		0
2020				1,386
2019				6,429
2018				31,818
2017				22,779
2016				220
Prior				8,158
Total				70,790
Loans and notes receivable from distributors [Member] | 1-2 internal grade member [Member]
Loans and notes receivable form distributors by credit quality indicator
2020				1,386
2019				3,876
2018				24,310
2017				22,779
2016				220
Prior				4,386
Total				56,957
Loans and notes receivable from distributors [Member] | 3-4 internal grade [Member]
Loans and notes receivable form distributors by credit quality indicator
2020				0
2019				2,553
2018				7,508
2017				0
2016				0
Prior				3,772
Total				$ 13,833
Loans and notes receivable from distributors [Member] | Accounting Standards Update No. 2016-13 [Member] | Adoption of Accounting Standards Update [Member]
Loans and notes receivable from distributors [Line Items]
Balance, beginning of year		$ 4,749
[1]	Amount Includes the non-current portion of loans and note receivables. The current portion of these receivables is included in other current assets on the consolidated balance sheets and was $3,879 as of June 30, 2020 and $3,511 as of December 31, 2019 .
[2]	Amortization of deferred sales commissions was $1,817 for the six months ended June 30, 2020 and $1,464 for the six months ended June 30, 2019 .
[3]	Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $15,806 for the six months ended June 30, 2020 and $16,182 for the six months ended June 30, 2019 .
[4]	$30,594 of the December 31, 2019 amount was recognized as revenue during the six months ended June 30, 2020 .

Supplemental balance sheet an_9

Supplemental balance sheet and cash flow information (supplemental cash flow information) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 371,951	$ 73,620	$ 66,732
Total cash, cash equivalents, restricted cash and restricted cash equivalents	438,332	$ 174,811	144,058	$ 145,259
Funds held for customers [Member]
Restricted cash and restricted cash equivalents included in funds held for customers	$ 66,381		$ 77,326

Earnings (loss) per share (Deta

Earnings (loss) per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings (loss) per share - basic:
Net income (loss)	$ 14,878	$ 32,582	$ (45,253)	$ 73,772
Net income attributable to non-controlling interest	(19)	0	(19)	0
Net income (loss) attributable to Deluxe	14,859	32,582	(45,272)	73,772
Income allocated to participating securities	(13)	(60)	(32)	(170)
Income (loss) attributable to Deluxe available to common shareholders	$ 14,846	$ 32,522	$ (45,304)	$ 73,602
Weighted-average shares outstanding	41,797	43,400	41,946	43,697
Earnings (loss) per share - basic	$ 0.36	$ 0.75	$ (1.08)	$ 1.68
Earnings (loss) per share - diluted:
Net income (loss)	$ 14,878	$ 32,582	$ (45,253)	$ 73,772
Net income attributable to non-controlling interest	(19)	0	(19)	0
Net income (loss) attributable to Deluxe	14,859	32,582	(45,272)	73,772
Income allocated to participating securities	0	(10)	(32)	(76)
Re-measurement of share-based awards classified as liabilities	(79)	(44)	(853)	(44)
Income (loss) attributable to Deluxe available to common shareholders	$ 14,780	$ 32,528	$ (46,157)	$ 73,652
Weighted-average shares outstanding	41,797	43,400	41,946	43,697
Dilutive impact of potential common shares	151	154	40	127
Weighted-average shares and potential common shares outstanding	41,948	43,554	41,986	43,824
Earnings (loss) per share - diluted	$ 0.35	$ 0.75	$ (1.10)	$ 1.68
Antidilutive options excluded from calculation	2,133	1,439	2,199	1,439

Other comprehensive income (l_3

Other comprehensive income (loss) (reclassification adjustments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Reclassification adjustments [Line Items]
Total reclassifications, net of tax	$ (416)	$ (380)	$ (555)	$ (761)
Prior service credit [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	355	355	711	711
Net actuarial loss [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	(575)	(806)	(1,150)	(1,612)
Postretirement benefit plans [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	(220)	(451)	(439)	(901)
Tax benefit	12	71	23	140
Total reclassifications, net of tax	(208)	(380)	(416)	(761)
Realized gain on interest rate swap [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	(281)	0	(188)	0
Tax benefit	73	0	49	0
Total reclassifications, net of tax	$ (208)	$ 0	$ (139)	$ 0

Other comprehensive income (l_4

Other comprehensive income (loss) (accumulated other comprehensive loss) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated other comprehensive loss [Line Items]
Amounts reclassified from accumulated other comprehensive loss		$ 416	$ 380	$ 555	$ 761
Postretirement benefit plans [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year				(28,406)
Other comprehensive income (loss) before reclassifications				0
Amounts reclassified from accumulated other comprehensive loss		208	380	416	761
Net current-period other comprehensive income (loss)				416
Balance, end of period		(27,990)		(27,990)
Net unrealized loss on available-for-sale debt securities [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year				(275)
Other comprehensive income (loss) before reclassifications	[1]			308
Amounts reclassified from accumulated other comprehensive loss				0
Net current-period other comprehensive income (loss)				308
Balance, end of period		33		33
Unrealized gain on securities arising during the period, tax				107
Net unrealized loss on cash flow hedge [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year				(1,097)
Other comprehensive income (loss) before reclassifications	[2]			(5,395)
Amounts reclassified from accumulated other comprehensive loss		208	$ 0	139	$ 0
Net current-period other comprehensive income (loss)				(5,256)
Balance, end of period		(6,353)		(6,353)
Unrealized loss on cash flow hedge arising during the period, tax				(1,897)
Currency translation adjustment [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year				(18,169)
Other comprehensive income (loss) before reclassifications				(3,300)
Amounts reclassified from accumulated other comprehensive loss				0
Net current-period other comprehensive income (loss)				(3,300)
Balance, end of period		(21,469)		(21,469)
Accumulated other comprehensive loss [Member]
Accumulated other comprehensive loss [Line Items]
Balance, beginning of year				(47,947)
Other comprehensive income (loss) before reclassifications				(8,387)
Amounts reclassified from accumulated other comprehensive loss				555
Net current-period other comprehensive income (loss)				(7,832)
Balance, end of period		$ (55,779)		$ (55,779)
[1]	Other comprehensive income before reclassifications is net of income tax expense of $107 .
[2]	Other comprehensive loss before reclassifications is net of an income tax benefit of $1,897 .

Derivative financial instrume_2

Derivative financial instruments (Details) - Interest rate swap [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jul. 19, 2019
Derivative [Line Items]
Interest rate swap amount			$ 200,000
Derivative fixed interest rate			1.798%
Fair value of derivative liability	$ 8,584	$ 1,480

Fair value measurements (goodwi

Fair value measurements (goodwill and non-recurring asset impairment analyses) (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)reporting_units	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Feb. 29, 2020USD ($)	Jan. 01, 2020USD ($)	Dec. 31, 2019USD ($)
Goodwill impairment and non-recurring fair value measurements [Line Items]
Goodwill impairment charges		$ 67,673		$ 67,673
Goodwill	$ 736,748			736,748				$ 804,487
Total impairment charge	4,883		$ 0	95,213	$ 0
Direct-to-Consumer reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Amount of fair value in excess of carrying value							$ 35,000
Percentage of fair value in excess of carrying value							26.00%
Reporting units for which quantitative analysis completed [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Number of reporting units | reporting_units		2
Reporting units for which quantitative analysis completed [Member] | Minimum [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Amount of fair value in excess of carrying value							$ 37,000
Percentage of fair value in excess of carrying value							121.00%
Reporting units for which quantitative analysis completed [Member] | Maximum [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Amount of fair value in excess of carrying value							$ 954,000
Percentage of fair value in excess of carrying value							189.00%
Promotional Solutions reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Goodwill impairment charges		$ 63,356
Goodwill		62,785
Cloud Solutions Web Hosting reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Goodwill impairment charges		4,317
Non-recurring fair value measurement [Member] | Small business distributors [Member] | Measurement input, revenue growth rate [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Intangibles fair value inputs						0.00%
Non-recurring fair value measurement [Member] | Small business distributors [Member] | Measurement input, gross margin growth rate [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Intangibles fair value inputs						1.90%
Non-recurring fair value measurement [Member] | Small business distributors [Member] | Measurement input, discount rate [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Intangibles fair value inputs						11.00%
Non-recurring fair value measurement [Member] | Amortizable intangibles [Member] | Assets held for sale [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Asset impairment charges	7,110			7,110
Estimated fair value, intangibles	11,210			11,210
Non-recurring fair value measurement [Member] | Amortizable intangibles [Member] | Cloud Solutions Web Hosting reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Asset impairment charges		$ 17,678
Non-recurring fair value measurement [Member] | Amortizable intangibles [Member] | Cloud Solutions Web Hosting reporting unit [Member] | Measurement input, revenue growth rate [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Intangibles fair value inputs		(31.00%)
Non-recurring fair value measurement [Member] | Amortizable intangibles [Member] | Cloud Solutions Web Hosting reporting unit [Member] | Measurement input, gross margin growth rate [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Intangibles fair value inputs		(5.20%)
Non-recurring fair value measurement [Member] | Amortizable intangibles [Member] | Cloud Solutions Web Hosting reporting unit [Member] | Measurement input, discount rate [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Intangibles fair value inputs		9.00%
Non-recurring fair value measurement [Member] | Customer lists/relationships [Member] | Small business distributors [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Asset impairment charges		$ 2,752
Estimated fair value, intangibles						$ 7,622
Non-recurring fair value measurement [Member] | Customer lists/relationships [Member] | Cloud Solutions Web Hosting reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Asset impairment charges		8,397
Estimated fair value, intangibles		0
Non-recurring fair value measurement [Member] | Internal-use software [Member] | Cloud Solutions Web Hosting reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Asset impairment charges		6,932
Estimated fair value, intangibles		2,172
Non-recurring fair value measurement [Member] | Other intangible assets [Member] | Cloud Solutions Web Hosting reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Asset impairment charges		2,349
Estimated fair value, intangibles		0
Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Amortizable intangibles [Member] | Assets held for sale [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Estimated fair value, intangibles	$ 11,210			$ 11,210
Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Customer lists/relationships [Member] | Small business distributors [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Estimated fair value, intangibles						$ 7,622
Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Customer lists/relationships [Member] | Cloud Solutions Web Hosting reporting unit [Member]
Goodwill 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] | Internal-use software [Member] | Cloud Solutions Web Hosting reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Estimated fair value, intangibles		2,172
Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Other intangible assets [Member] | Cloud Solutions Web Hosting reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Estimated fair value, intangibles		$ 0

Fair value measurements (financ

Fair value measurements (financial instruments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020		Dec. 31, 2019
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	$ 23,201		$ 34,450
Derivative liability (Note 6)	(8,584)		(1,480)
Cash	371,951		73,620
Cash, fair value	371,951		73,620
Loans and notes receivable from Safeguard distributors	59,134		70,383
Loans and notes receivable from Safeguard distributors, fair value	57,548		68,887
Long-term debt	1,140,000		883,500
Long-term debt, fair value	1,140,000		883,500
Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Derivative liability (Note 6)	(8,584)		(1,480)
Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements, financial instruments [Line Items]
Cash, fair value	371,951		73,620
Loans and notes receivable from Safeguard distributors, fair value	0		0
Long-term debt, fair value	0		0
Quoted prices in active markets for identical assets (Level 1) [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Derivative liability (Note 6)	0		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	1,140,000		883,500
Significant other observable inputs (Level 2) [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Derivative liability (Note 6)	(8,584)		(1,480)
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	57,548		68,887
Long-term debt, fair value	0		0
Significant unobservable inputs (Level 3) [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Derivative liability (Note 6)	0		0
Funds held for customers [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	23,201	[1]	34,450	[2]
Cash	59,381		83,191
Cash, fair value	$ 59,381		83,191
Funds held for customers [Member] | Canadian guaranteed investment certificates [Member]
Fair value measurements, financial instruments [Line Items]
Maximum maturity period, debt securities	1 year
Available-for-sale debt securities (funds held for customers)	$ 7,343		7,698
Funds held for customers [Member] | Money market securities [Member]
Fair value measurements, financial instruments [Line Items]
Cash equivalents (funds held for customers)	7,000		18,000
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)	16,201		16,450
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)	7,000		18,000
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)	16,201		16,450
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	59,381		83,191
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)	7,000		18,000
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)	16,201		16,450
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]	Funds held for customers, as reported on the consolidated balance sheet as of June 30, 2020 , also included cash of $59,381 .
[2]	Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2019 , also included cash of $83,191 .

Restructuring and integration_3

Restructuring and integration expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring and integration expense [Line Items]
Restructuring and integration expense	$ 20,382	$ 17,497	$ 38,865	$ 23,780
Total cost of revenue [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	28	155	857	946
Operating expenses [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	20,354	17,342	38,008	22,834
External consulting fees [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	11,337	10,101	22,238	12,247
Employee severance benefits [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense			10,630
Restructuring charges, net	5,035	2,697	10,118	4,761
Internal labor [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	1,128	3,789	2,981	5,850
Other [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	$ 2,882	$ 910	$ 3,528	$ 922

Restructuring and integration_4

Restructuring and integration expense (accruals) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Charges	$ 20,382	$ 17,497	$ 38,865	$ 23,780
Employee severance benefits [Member]
Restructuring Cost and Reserve [Line Items]
Balance, December 31, 2019			3,459
Charges			10,630
Reversals			(512)
Payments			(7,625)
Balance, June 30, 2020	$ 5,952		$ 5,952

Income tax provision (Details)

Income tax provision (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Reconciliation of effective tax rate
Income tax at federal statutory rate	21.00%	21.00%
Goodwill impairment charges	(27.40%)	(29.30%)
Research and development tax credit	(7.10%)	0.60%
Change in valuation allowances	0.00%	(4.50%)
Net tax impact of share-based compensation	(2.70%)	(1.10%)
Foreign tax rate differences	8.60%	1.30%
State income tax, net of federal income tax benefit	0.50%	4.90%
Other	2.80%	(0.60%)
Effective tax rate	(4.30%)	(7.70%)

Postretirement benefits (Detail

Postretirement benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net periodic benefit income
Interest cost	$ 478	$ 682	$ 956	$ 1,364
Expected return on plan assets	(1,905)	(1,740)	(3,809)	(3,479)
Amortization of prior service credit	(355)	(355)	(711)	(711)
Amortization of net actuarial losses	575	806	1,150	1,612
Net periodic benefit income	$ (1,207)	$ (607)	$ (2,414)	$ (1,214)

Debt (Details)

Debt (Details) - USD ($) $ in Thousands		Jul. 17, 2020	Mar. 12, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jul. 19, 2019
Debt instruments [Line Items]
Amounts drawn on revolving credit facility				$ 1,140,000		$ 883,500
Revolving credit facility, increase			$ 238,000
Cash and cash equivalents				371,951	$ 66,732	$ 73,620
Payments on long-term debt				52,500	$ 113,000
Revolving credit facility, current commitment				1,150,000
Revolving credit facility, maximum commitment				$ 1,425,000
Weighted-average interest rate at period end				1.90%		3.03%
Daily average amount outstanding				$ 1,034,198		$ 925,715
Weighted-average interest rate				2.29%		3.54%
Outstanding letters of credit	[1]			$ (5,428)
Net available for borrowing as of June 30, 2020				$ 4,572
Subsequent event [Member]
Debt instruments [Line Items]
Payments on long-term debt		$ 100,000
Revolving credit facility [Member]
Debt instruments [Line Items]
Maximum leverage ratio				3.5
Minimum ratio of EBIT to interest expense				3
Ratio of total debt less unrestricted cash to EBITDA				2.75
Interest rate swap [Member]
Debt instruments [Line Items]
Interest rate swap amount							$ 200,000
Minimum [Member]
Debt instruments [Line Items]
Revolving credit facility, commitment fee				0.175%
Maximum [Member]
Debt instruments [Line Items]
Revolving credit facility, commitment fee				0.35%
[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.

Other commitments and conting_2

Other commitments and contingencies (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Self-insurance liabilities	$ 8,044	$ 7,576

Shareholders' equity (Details)

Shareholders' equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Oct. 24, 2018
Stockholders' Equity Note [Abstract]
Share repurchase program, authorized amount						$ 500,000
Common shares repurchased (in shares)	0	499	718	499	1,757
Payments for common shares repurchased		$ 14,000		$ 14,000	$ 78,896
Amount remaining under share repurchase authorization	$ 287,452			$ 287,452

Business segment information (D

Business segment information (Details) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)	Dec. 31, 2019segment
Business segment information [Line Items]
Number of reportable business segments | segment				4		3
Revenue		$ 410,405	$ 493,986	$ 896,828	$ 993,051
Depreciation and amortization		(26,663)	(32,517)	(55,093)	(64,936)
Interest expense		(6,171)	(9,239)	(13,171)	(18,540)
Pretax income attributable to non-controlling interest		26	0	26	0
Asset impairment charges		(4,883)	0	(95,213)	0
Restructuring integration and other costs		(20,490)	(17,693)	(40,123)	(23,976)
CEO transition costs		(190)	(1,906)	(10)	(7,394)
Share-based compensation expense		(5,477)		(9,095)	(9,224)
Share-based compensation expense	[1]		(5,369)		(8,660)
Acquisition transaction costs		0	(3)	(9)	(180)
Certain legal-related expenses		0	(6,005)	2,164	(6,417)
Loss on sales of customer lists		(18)	0	(18)	(99)
Income (loss) before income taxes		19,952	44,753	(43,389)	100,991
Reportable business segments [Member]
Business segment information [Line Items]
Revenue		410,405	493,986	896,828	993,051
Adjusted EBITDA		126,320	159,217	261,164	318,967
Reportable business segments [Member] | Payments [Member]
Business segment information [Line Items]
Revenue		72,171	64,104	149,211	129,254
Adjusted EBITDA		15,583	17,972	33,606	34,838
Reportable business segments [Member] | Cloud Solutions [Member]
Business segment information [Line Items]
Revenue		53,897	78,914	129,842	157,202
Adjusted EBITDA		14,159	19,086	29,069	36,146
Reportable business segments [Member] | Promotional Solutions [Member]
Business segment information [Line Items]
Revenue		117,946	155,545	260,739	311,374
Adjusted EBITDA		13,854	22,288	25,051	45,878
Reportable business segments [Member] | Checks [Member]
Business segment information [Line Items]
Revenue		166,391	195,423	357,036	395,221
Adjusted EBITDA		82,724	99,871	173,438	202,105
Corporate [Member]
Business segment information [Line Items]
Adjusted EBITDA		$ (42,502)	$ (41,732)	$ (94,011)	$ (87,774)
[1]	In 2019, includes adjustments to share-based compensation expense related to the modification of certain awards in conjunction with our CEO transition.

Business segment information _2

Business segment information (disaggregated revenue information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregated revenue information
Revenue	$ 410,405	$ 493,986	$ 896,828	$ 993,051
United States [Member]
Disaggregated revenue information
Revenue	385,879	464,384	843,415	934,289
Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	24,526	29,602	53,413	58,762
Reportable business segments [Member]
Disaggregated revenue information
Revenue	410,405	493,986	896,828	993,051
Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	72,171	64,104	149,211	129,254
Reportable business segments [Member] | Payments [Member] | United States [Member]
Disaggregated revenue information
Revenue	64,230	56,098	132,588	113,042
Reportable business segments [Member] | Payments [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	7,941	8,006	16,623	16,212
Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	53,897	78,914	129,842	157,202
Reportable business segments [Member] | Cloud Solutions [Member] | United States [Member]
Disaggregated revenue information
Revenue	46,091	70,178	114,161	139,629
Reportable business segments [Member] | Cloud Solutions [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	7,806	8,736	15,681	17,573
Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	117,946	155,545	260,739	311,374
Reportable business segments [Member] | Promotional Solutions [Member] | United States [Member]
Disaggregated revenue information
Revenue	113,757	148,290	250,570	297,713
Reportable business segments [Member] | Promotional Solutions [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	4,189	7,255	10,169	13,661
Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	166,391	195,423	357,036	395,221
Reportable business segments [Member] | Checks [Member] | United States [Member]
Disaggregated revenue information
Revenue	161,801	189,818	346,096	383,905
Reportable business segments [Member] | Checks [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	4,590	5,605	10,940	11,316
Checks [Member]
Disaggregated revenue information
Revenue	166,391	195,423	357,036	395,221
Checks [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Checks [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Checks [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Checks [Member] | Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	166,391	195,423	357,036	395,221
Forms and other products [Member]
Disaggregated revenue information
Revenue	75,431	84,663	157,243	171,369
Forms and other products [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Forms and other products [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Forms and other products [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	75,431	84,663	157,243	171,369
Forms and other products [Member] | Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Marketing and promotional solutions [Member]
Disaggregated revenue information
Revenue	42,515	70,882	103,496	140,005
Marketing and promotional solutions [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Marketing and promotional solutions [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Marketing and promotional solutions [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	42,515	70,882	103,496	140,005
Marketing and promotional solutions [Member] | Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Treasury management solutions [Member]
Disaggregated revenue information
Revenue	54,793	45,475	111,660	90,946
Treasury management solutions [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	54,793	45,475	111,660	90,946
Treasury management solutions [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Treasury management solutions [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Treasury management solutions [Member] | Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Data-driven marketing solutions [Member]
Disaggregated revenue information
Revenue	19,422	38,796	58,419	75,580
Data-driven marketing solutions [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Data-driven marketing solutions [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	19,422	38,796	58,419	75,580
Data-driven marketing solutions [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Data-driven marketing solutions [Member] | Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Web and hosted solutions [Member]
Disaggregated revenue information
Revenue	34,475	40,118	71,423	81,622
Web and hosted solutions [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Web and hosted solutions [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	34,475	40,118	71,423	81,622
Web and hosted solutions [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Web and hosted solutions [Member] | Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Other payments solutions [Member]
Disaggregated revenue information
Revenue	17,378	18,629	37,551	38,308
Other payments solutions [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	17,378	18,629	37,551	38,308
Other payments solutions [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Other payments solutions [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	0	0	0	0
Other payments solutions [Member] | Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	$ 0	$ 0	$ 0	$ 0

Risks and uncertainties (Detail

Risks and uncertainties (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Loans and notes receivable from distributors [Line Items]
Loans and notes receivable from Safeguard distributors	$ 59,134	$ 70,383
Loans and notes receivable from distributors [Member]
Loans and notes receivable from distributors [Line Items]
Allowance for uncollectible accounts	$ 11,656	$ 284	$ 284	$ 284