Deluxe (DLX) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Document

Document - shares	9 Months Ended
	Sep. 30, 2021	Oct. 27, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
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	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0216800
Entity Address, Address Line One	801 S. Marquette Ave.
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55402-2807
City Area Code	651
Local Phone Number	483-7111
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	DLX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,605,822

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 121,064	$ 123,122
Trade accounts receivable, net of allowances for uncollectible accounts	174,546	161,959
Inventories and supplies	35,355	40,130
Funds held for customers, including securities carried at fair value of $13,302 and $28,462, respectively	142,482	119,749
Revenue in excess of billings	41,189	17,617
Other current assets	52,890	44,054
Total current assets	567,526	506,631
Deferred income taxes	2,290	6,642
Long-term investments	46,832	45,919
Property, plant and equipment, net of accumulated depreciation of $346,364 and $360,907, respectively	129,712	88,680
Operating lease assets	58,442	35,906
Intangibles, net of accumulated amortization of $675,417 and $587,273, respectively	515,936	246,760
Goodwill	1,435,483	702,958
Other non-current assets	249,972	208,679
Total assets	3,006,193	1,842,175
Current liabilities:
Accounts payable	138,339	116,990
Funds held for customers	141,597	117,647
Accrued liabilities	203,784	177,183
Current portion of long-term debt	57,167	0
Total current liabilities	540,887	411,820
Long-term debt	1,719,000	840,000
Operating lease liabilities	49,827	28,344
Deferred income taxes	66,637	5,401
Other non-current liabilities	71,976	43,218
Commitments and contingencies (Notes 14 and 17)
Shareholders' equity:
Common shares $1 par value (authorized: 500,000 shares; outstanding: September 30, 2021 - 42,601; December 31, 2020 - 41,973)	42,601	41,973
Additional paid-in capital	50,156	17,558
Retained earnings	505,100	495,153
Accumulated other comprehensive loss	(40,231)	(41,433)
Non-controlling interest	240	141
Total shareholders' equity	557,866	513,392
Total liabilities and shareholders' equity	$ 3,006,193	$ 1,842,175

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Funds held for customers, securities carried at fair value	$ 13,302	$ 28,462
Accumulated depreciation	346,364	360,907
Accumulated amortization	$ 675,417	$ 587,273
Common stock, par value (per share)	$ 1	$ 1
Common stock, shares authorized	500,000	500,000
Common stock, shares outstanding	42,601	41,973

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total revenue	$ 532,141	$ 439,461	$ 1,451,622	$ 1,336,288
Total cost of revenue	(244,151)	(174,461)	(629,237)	(538,792)
Gross profit	287,990	265,000	822,385	797,496
Selling, general and administrative expense	(239,251)	(198,871)	(685,593)	(634,645)
Restructuring and integration expense	(12,335)	(18,949)	(38,012)	(56,957)
Asset impairment charges	0	(2,760)	0	(101,749)
Operating income	36,404	44,420	98,780	4,145
Interest expense	(21,494)	(5,083)	(35,548)	(18,254)
Other income	2,282	2,201	6,443	8,482
Income (loss) before income taxes	17,192	41,538	69,675	(5,627)
Income tax provision	(4,691)	(12,094)	(20,720)	(13,746)
Net income (loss)	12,501	29,444	48,955	(19,373)
Net income attributable to non-controlling interest	(37)	(27)	(99)	(46)
Net income (loss) attributable to Deluxe	12,464	29,417	48,856	(19,419)
Total comprehensive loss	10,099	32,319	50,157	(24,330)
Comprehensive income (loss) attributable to Deluxe	$ 10,062	$ 32,292	$ 50,058	$ (24,376)
Basic earnings (loss) per share	$ 0.29	$ 0.70	$ 1.15	$ (0.46)
Diluted earnings (loss) per share	$ 0.28	$ 0.70	$ 1.13	$ (0.48)
Product [Member]
Total revenue	$ 302,369	$ 298,751	$ 907,646	$ 908,146
Total cost of revenue	(111,008)	(108,369)	(330,896)	(332,818)
Service [Member]
Total revenue	229,772	140,710	543,976	428,142
Total cost of revenue	$ (133,143)	$ (66,092)	$ (298,341)	$ (205,974)

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]	Retained earnings [Member]Adoption of Accounting Standards Update [Member]	Accumulated other comprehensive loss [Member]	Non-controlling interest [Member]
Balance, beginning of period at Dec. 31, 2019	$ 546,979	$ (3,640)	$ 42,126	$ 4,086	$ 548,714	$ (3,640)	$ (47,947)	$ 0
Balance (in shares) at Dec. 31, 2019	42,126
Net income (loss) attributable to Deluxe	$ (19,419)				(19,419)
Net income attributable to non-controlling interest	46							46
Net income (loss)	(19,373)
Cash dividends ($0.30 per share for the quarters ended September 30, 2021 and 2020; $0.90 per share for the nine months ended September 30, 2021 and 2020)	(38,562)				(38,562)
Common shares issued	$ 3,194		334	2,860
Common shares issued (in shares)	334
Common shares repurchased	$ (14,000)		(499)	(9,767)	(3,734)
Common shares repurchased (in shares)	(499)
Other common shares retired	$ (2,062)		(68)	(1,994)
Other common shares retired (in shares)	(68)
Employee share-based compensation	$ 16,369			16,369
Other comprehensive income (loss)	(4,957)						(4,957)
Non-controlling interest, net	50							50
Balance, end of period at Sep. 30, 2020	$ 483,998		41,893	11,554	483,359		(52,904)	96
Balance (in shares) at Sep. 30, 2020	41,893
Balance, beginning of period at Dec. 31, 2019	$ 546,979	$ (3,640)	42,126	4,086	548,714	$ (3,640)	(47,947)	0
Balance (in shares) at Dec. 31, 2019	42,126
Balance, end of period at Dec. 31, 2020	$ 513,392		41,973	17,558	495,153		(41,433)	141
Balance (in shares) at Dec. 31, 2020	41,973
Balance, beginning of period at Jun. 30, 2020	$ 457,892		41,855	4,950	466,797		(55,779)	69
Balance (in shares) at Jun. 30, 2020	41,855
Net income (loss) attributable to Deluxe	$ 29,417				29,417
Net income attributable to non-controlling interest	27							27
Net income (loss)	29,444
Cash dividends ($0.30 per share for the quarters ended September 30, 2021 and 2020; $0.90 per share for the nine months ended September 30, 2021 and 2020)	(12,855)				(12,855)
Common shares issued	$ 637		44	593
Common shares issued (in shares)	44
Other common shares retired	$ (134)		(6)	(128)
Other common shares retired (in shares)	(6)
Employee share-based compensation	$ 6,139			6,139
Other comprehensive income (loss)	2,875						2,875
Balance, end of period at Sep. 30, 2020	$ 483,998		41,893	11,554	483,359		(52,904)	96
Balance (in shares) at Sep. 30, 2020	41,893
Balance, beginning of period at Dec. 31, 2020	$ 513,392		41,973	17,558	495,153		(41,433)	141
Balance (in shares) at Dec. 31, 2020	41,973
Net income (loss) attributable to Deluxe	$ 48,856				48,856
Net income attributable to non-controlling interest	99							99
Net income (loss)	48,955
Cash dividends ($0.30 per share for the quarters ended September 30, 2021 and 2020; $0.90 per share for the nine months ended September 30, 2021 and 2020)	(38,909)				(38,909)
Common shares issued	$ 16,399		744	15,655
Common shares issued (in shares)	744
Common shares repurchased (in shares)	0
Other common shares retired	$ (4,634)		(116)	(4,518)
Other common shares retired (in shares)	(116)
Employee share-based compensation	$ 21,461			21,461
Other comprehensive income (loss)	1,202						1,202
Balance, end of period at Sep. 30, 2021	$ 557,866		42,601	50,156	505,100		(40,231)	240
Balance (in shares) at Sep. 30, 2021	42,601
Balance, beginning of period at Jun. 30, 2021	$ 552,271		42,537	41,607	505,753		(37,829)	203
Balance (in shares) at Jun. 30, 2021	42,537
Net income (loss) attributable to Deluxe	$ 12,464				12,464
Net income attributable to non-controlling interest	37							37
Net income (loss)	12,501
Cash dividends ($0.30 per share for the quarters ended September 30, 2021 and 2020; $0.90 per share for the nine months ended September 30, 2021 and 2020)	(13,117)				(13,117)
Common shares issued	$ 1,179		75	1,104
Common shares issued (in shares)	75
Other common shares retired	$ (463)		(11)	(452)
Other common shares retired (in shares)	(11)
Employee share-based compensation	$ 7,897			7,897
Other comprehensive income (loss)	(2,402)						(2,402)
Balance, end of period at Sep. 30, 2021	$ 557,866		$ 42,601	$ 50,156	$ 505,100		$ (40,231)	$ 240
Balance (in shares) at Sep. 30, 2021	42,601

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends per share	$ 0.30	$ 0.30	$ 0.90	$ 0.90

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 48,955	$ (19,373)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	14,536	15,510
Amortization of intangibles	88,393	67,555
Operating lease expense	12,897	15,044
Asset impairment charges	0	101,749
Amortization of prepaid product discounts	23,425	21,725
Deferred income taxes	13,733	(9,607)
Employee share-based compensation expense	21,801	15,335
Other non-cash items, net	10,459	15,231
Changes in assets and liabilities, net of effect of acquisition:
Trade accounts receivable	15,164	21,376
Inventories and supplies	3,787	(11,938)
Other current assets	(27,495)	2,158
Non-current assets	(35,821)	(13,335)
Accounts payable	8,538	(9,830)
Prepaid product discount payments	(27,049)	(24,947)
Other accrued and non-current liabilities	(22,094)	(19,842)
Net cash provided by operating activities	149,229	166,811
Cash flows from investing activities:
Payment for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired	(956,717)	0
Purchases of capital assets	(81,081)	(42,707)
Proceeds from sales of facilities	2,648	9,713
Purchases of customer funds marketable securities	(73)	(3,742)
Proceeds from customer funds marketable securities	73	3,742
Other	(1,211)	1,326
Net cash used by investing activities	(1,036,361)	(31,668)
Cash flows from financing activities:
Proceeds from issuing long-term debt, net of discount	1,852,850	309,000
Payments on long-term debt	(903,438)	(152,500)
Payments for debt issuance costs	(18,153)	0
Net change in customer funds obligations	14,913	(9,375)
Proceeds from issuing shares	16,031	3,048
Employee taxes paid for shares withheld	(4,634)	(2,023)
Payments for common shares repurchased	0	(14,000)
Cash dividends paid to shareholders	(38,695)	(38,057)
Other	(7,254)	(2,734)
Net cash provided by financing activities	911,620	93,359
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents	(793)	(3,297)
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents	23,695	225,205
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year	229,409	174,811
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	$ 253,104	$ 400,016

Consolidated financial statemen

Consolidated financial statements	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated financial statements	The consolidated balance sheet as of September 30, 2021, the consolidated statements of comprehensive income (loss) for the quarters and nine months ended September 30, 2021 and 2020, the consolidated statements of shareholders’ equity for the quarters and nine months ended September 30, 2021 and 2020 and the consolidated statements of cash flows for the nine months ended September 30, 2021 and 2020 are unaudited. The consolidated balance sheet as of December 31, 2020 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 items 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, 2020 (the 2020 Form 10-K). The preparation of our consolidated financial statements requires us to make certain estimates and assumptions affecting the amounts reported in the consolidated financial statements and related notes. 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, liabilities, revenues and expenses and the related disclosure of contingent 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 17. Revision – During the second quarter of 2021, we identified errors in the calculations of the goodwill impairment charges recorded during the third quarter of 2019 and the first quarter of 2020, resulting in an understatement of the goodwill impairment charges and net losses and an overstatement of goodwill. The errors in our calculations resulted from the erroneous application of the simultaneous equation method, which effectively grosses up the goodwill impairment charge to account for the related income tax benefit, so that the resulting carrying value does not exceed the calculated fair value. We assessed the materiality of the errors on prior period financial statements in accordance with Securities and Exchange Commission Staff Accounting Bulletin No. 99, Materiality , codified in Accounting Standards Codification (ASC) 250, Presentation of Financial Statements . We concluded that the errors were not material to our prior period consolidated financial statements and therefore, amendments of previously filed consolidated financial statements are not required. In accordance with ASC 250, we have corrected the errors by revising the consolidated financial statements presented herein. Prior periods not presented herein will be revised, as applicable, in future filings. The adjustments for the third quarter of 2019 resulted in an increase of $30,110 in the pretax asset impairment charges. Net of the related tax benefit of $6,228, this resulted in an increase in net loss of $23,882 for the third quarter of 2019 and the year ended December 31, 2019. Revised basic and diluted loss per share for the year ended December 31, 2019 increased from $4.65, as previously reported, to $5.20. The adjustments for the first quarter of 2020 resulted in an increase of $3,776 in the pretax asset impairment charges. Net of the related tax benefit of $212, this resulted in an increase in net loss of $3,564 for the first quarter of 2020 and a decrease in net income of $3,564 for the year ended December 31, 2020. Revised basic earnings per share for the year ended December 31, 2020 decreased from $0.21, as previously reported, to $0.12. Revised diluted earnings per share for the year ended December 31, 2020 decreased from $0.19, as previously reported, to $0.11. The impacts of the revisions on the periods presented herein are provided in the following tables. The impact of the revision on the consolidated statement of comprehensive loss for the nine months ended September 30, 2020 was as follows: (in thousands, except per share amounts) As previously reported Adjustments As revised Asset impairment charges $ (97,973) $ (3,776) $ (101,749) Operating income 7,921 (3,776) 4,145 Loss before income taxes (1,851) (3,776) (5,627) Income tax provision (13,958) 212 (13,746) Net loss (15,809) (3,564) (19,373) Net loss attributable to Deluxe (15,855) (3,564) (19,419) Total comprehensive loss (20,766) (3,564) (24,330) Comprehensive loss attributable to Deluxe (20,812) (3,564) (24,376) Basic loss per share (0.38) (0.08) (0.46) Diluted loss per share (0.40) (0.08) (0.48) The impact of the revision on the consolidated balance sheet as of December 31, 2020 was as follows: (in thousands) As previously reported Adjustments As revised ASSETS Deferred income taxes $ 5,444 $ 1,198 $ 6,642 Goodwill 736,844 (33,886) 702,958 Total assets 1,874,863 (32,688) 1,842,175 LIABILITIES AND SHAREHOLDERS' EQUITY Deferred income taxes $ 10,643 $ (5,242) $ 5,401 Retained earnings 522,599 (27,446) 495,153 Total shareholders' equity 540,838 (27,446) 513,392 Total liabilities and shareholders' equity 1,874,863 (32,688) 1,842,175 The impact of the revision on the consolidated statement of cash flows for the nine months ended September 30, 2020 was as follows: (in thousands) As previously reported Adjustments As revised Cash flows from operating activities: Net loss $ (15,809) $ (3,564) $ (19,373) Asset impairment charges 97,973 3,776 101,749 Deferred income taxes (9,395) (212) (9,607)

New accounting pronouncements

New accounting pronouncements	9 Months Ended
	Sep. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
New accounting pronouncements	In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2019-12, Simplifying the Accounting for Income Taxes . This standard addressed several specific areas of accounting for income taxes. We adopted this standard on January 1, 2021. Portions of the standard were adopted prospectively and certain aspects were required to be adopted using the modified retrospective approach. Adoption of this standard did not require an adjustment to retained earnings and did not have a significant impact on our results of operations or financial position. In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . This standard requires an acquirer to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers . Previously,

Supplemental balance sheet and

Supplemental balance sheet and cash flow information	9 Months Ended
	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Supplemental balance sheet and cash flow information	Trade accounts receivable – Changes in the allowances for uncollectible accounts included within trade accounts receivable were as follows for the nine months ended September 30, 2021 and 2020: Nine Months Ended (in thousands) 2021 2020 Balance, beginning of year $ 6,428 $ 4,985 Bad debt (benefit) expense (412) 4,174 Write-offs and other (2,555) (2,671) Balance, end of period $ 3,461 $ 6,488 Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) September 30, December 31, Raw materials $ 5,327 $ 5,412 Semi-finished goods 7,156 7,943 Finished goods 22,788 33,513 Supplies 5,580 5,010 Reserve for excess and obsolete items (5,496) (11,748) Inventories and supplies $ 35,355 $ 40,130 Changes in the reserve for excess and obsolete items were as follows for the nine months ended September 30, 2021 and 2020: Nine Months Ended (in thousands) 2021 2020 Balance, beginning of year $ 11,748 $ 6,600 Amounts charged to expense 2,884 1,270 Write-offs and sales (9,136) (1,188) Balance, end of period $ 5,496 $ 6,682 Available-for-sale debt securities – Available-for-sale debt securities included within funds held for customers were comprised of the following: September 30, 2021 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Canadian and provincial government securities $ 9,674 $ — $ (315) $ 9,359 Canadian guaranteed investment certificate 3,943 — — 3,943 Available-for-sale debt securities $ 13,617 $ — $ (315) $ 13,302 (1) Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2021, also included cash of $129,180. December 31, 2020 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 15,000 $ — $ — $ 15,000 Canadian and provincial government securities 9,566 — (33) 9,533 Canadian guaranteed investment certificate 3,929 — — 3,929 Available-for-sale debt securities $ 28,495 $ — $ (33) $ 28,462 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2020, also included cash of $91,287. Expected maturities of available-for-sale debt securities as of September 30, 2021 were as follows: (in thousands) Fair value Due in one year or less $ 7,041 Due in two to five years 3,453 Due in six to ten years 2,808 Available-for-sale debt securities $ 13,302 Further information regarding the fair value of available-for-sale debt securities can be found in Note 8. Revenue in excess of billings – Revenue in excess of billings was comprised of the following: (in thousands) September 30, December 31, Conditional right to receive consideration $ 28,157 $ 13,950 Unconditional right to receive consideration (1) 13,032 3,667 Revenue in excess of billings $ 41,189 $ 17,617 (1) Represents revenues that are earned but not currently billable under the related contract terms. Trade accounts receivable on the consolidated balance sheets included unbilled receivables of $29,993 as of September 30, 2021 and $21,319 as of December 31, 2020. Intangibles – Intangibles were comprised of the following: September 30, 2021 December 31, 2020 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Amortizable intangibles: Customer lists/relationships $ 495,416 $ (243,817) $ 251,599 $ 352,895 $ (202,428) $ 150,467 Internal-use software 439,785 (337,242) 102,543 380,144 (303,422) 76,722 Technology-based intangibles 99,813 (35,013) 64,800 33,813 (27,613) 6,200 Partner relationships 67,406 (1,525) 65,881 — — — Trade names 52,033 (30,766) 21,267 30,281 (29,926) 355 Software to be sold 36,900 (27,054) 9,846 36,900 (23,884) 13,016 Intangibles $ 1,191,353 $ (675,417) $ 515,936 $ 834,033 $ (587,273) $ 246,760 During the second quarter of 2021, we acquired amortizable intangible assets in conjunction with the acquisition of First American Payment Systems, L.P. (First American). Further information can be found in Note 6. Amortization of intangibles was $36,570 for the quarter ended September 30, 2021, $22,515 for the quarter ended September 30, 2020, $88,393 for the nine months ended September 30, 2021 and $67,555 for the nine months ended September 30, 2020. Based on the intangibles in service as of September 30, 2021, estimated future amortization expense is as follows: (in thousands) Estimated Remainder of 2021 $ 41,235 2022 130,462 2023 101,863 2024 62,576 2025 46,791 The following intangibles were acquired during the nine months ended September 30, 2021, including assets acquired in conjunction with the acquisition of First American (Note 6): (in thousands) Amount Weighted-average amortization period Customer lists/relationships (1) $ 142,514 8 Partner relationships 67,406 15 Technology-based intangibles 66,000 8 Internal-use software 59,429 3 Trade names 22,000 10 Acquired intangibles $ 357,349 9 (1) Included $118,000 acquired via the First American acquisition (Note 6) with a weighted-average useful life of 8 years. Goodwill – Changes in goodwill by reportable segment and in total for the nine months ended September 30, 2021 were as follows: (in thousands) Payments Cloud Solutions Promotional Solutions Checks Total Balance, December 31, 2020: Goodwill, gross $ 168,165 $ 432,984 $ 252,864 $ 434,812 $ 1,288,825 Accumulated impairment charges — (392,168) (193,699) — (585,867) Goodwill, net of accumulated impairment charges 168,165 40,816 59,165 434,812 702,958 Goodwill resulting from acquisition (Note 6) 732,520 — — — 732,520 Currency translation adjustment — — 5 — 5 Balance, September 30, 2021 $ 900,685 $ 40,816 $ 59,170 $ 434,812 $ 1,435,483 Balance, September 30, 2021: Goodwill, gross $ 900,685 $ 432,984 $ 252,869 $ 434,812 $ 2,021,350 Accumulated impairment charges — (392,168) (193,699) — (585,867) Goodwill, net of accumulated impairment charges $ 900,685 $ 40,816 $ 59,170 $ 434,812 $ 1,435,483 Other non-current assets – Other non-current assets were comprised of the following: (in thousands) September 30, December 31, Postretirement benefit plan asset $ 76,435 $ 71,208 Cloud computing arrangements 52,900 29,242 Prepaid product discounts 51,270 50,602 Loans and notes receivable from distributors, net of allowances for uncollectible accounts (1) 20,424 35,068 Deferred contract acquisition costs (2) 17,480 9,199 Other 31,463 13,360 Other non-current assets $ 249,972 $ 208,679 (1) Amount Includes the non-current portion of loans and notes receivable. The current portion of these receivables is included in other current assets on the consolidated balance sheets and was $1,305 as of September 30, 2021 and $2,008 as of December 31, 2020. (2) Amortization of deferred contract acquisition costs was $3,366 for the nine months ended September 30, 2021 and $2,756 for the nine months ended September 30, 2020. Changes in the allowances for uncollectible accounts related to loans and notes receivable from distributors were as follows for the nine months ended September 30, 2021 and 2020: Nine Months Ended (in thousands) 2021 2020 Balance, beginning of year $ 3,995 $ 284 Adoption of ASU No. 2016-13 — 4,749 Bad debt (benefit) expense (1,158) 5,647 Exchange for customer lists — (6,402) Balance, end of period $ 2,837 $ 4,278 Bad debt expense for the nine months ended September 30, 2020 included loan-specific allowances primarily related to Promotional Solutions distributors that were underperforming. In calculating these reserves, we utilized various valuation techniques to determine the value of the underlying collateral. Past due receivables and those on non-accrual status were not significant as of September 30, 2021 or December 31, 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 distributors, including the current portion, by credit quality indicator and by year of origination, as of September 30, 2021. There were no write-offs or recoveries recorded during the nine months ended September 30, 2021. Loans and notes receivable from distributors amortized cost basis by origination year (in thousands) 2020 2019 2018 2017 Prior Total Risk rating: 1-2 internal grade $ 1,256 $ 497 $ 7,187 $ 11,705 $ 1,322 $ 21,967 3-4 internal grade — 2,599 — — — 2,599 Loans and notes receivable $ 1,256 $ 3,096 $ 7,187 $ 11,705 $ 1,322 $ 24,566 Changes in prepaid product discounts during the nine months ended September 30, 2021 and 2020 were as follows: Nine Months Ended (in thousands) 2021 2020 Balance, beginning of year $ 50,602 $ 51,145 Additions (1) 24,284 13,259 Amortization (23,425) (21,725) Other (191) (1,430) Balance, end of period $ 51,270 $ 41,249 (1) Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $27,049 for the nine months ended September 30, 2021 and $24,947 for the nine months ended September 30, 2020. Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) September 30, December 31, Deferred revenue (1) $ 43,081 $ 42,104 Employee cash bonuses, including sales incentives 35,341 21,090 Operating lease liabilities (Note 13) 12,884 11,589 Prepaid product discounts due within one year 11,805 14,365 Customer rebates 8,715 8,179 Other 91,958 79,856 Accrued liabilities $ 203,784 $ 177,183 (1) $33,088 of the December 31, 2020 amount was recognized as revenue during the nine months ended September 30, 2021. Supplemental cash flow information – The reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the consolidated balance sheets was as follows: (in thousands) September 30, September 30, Cash and cash equivalents $ 121,064 $ 310,430 Restricted cash and restricted cash equivalents included in funds held for customers 129,180 89,586 Non-current restricted cash included in other non-current assets 2,860 — Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 253,104 $ 400,016

Earnings (loss) per share

Earnings (loss) per share	9 Months Ended
	Sep. 30, 2021
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 Nine Months Ended (in thousands, except per share amounts) 2021 2020 2021 2020 Earnings (loss) per share – basic: Net income (loss) $ 12,501 $ 29,444 $ 48,955 $ (19,373) Net income attributable to non-controlling interest (37) (27) (99) (46) Net income (loss) attributable to Deluxe 12,464 29,417 48,856 (19,419) Income allocated to participating securities (9) (24) (36) (42) Income (loss) attributable to Deluxe available to common shareholders $ 12,455 $ 29,393 $ 48,820 $ (19,461) Weighted-average shares outstanding 42,574 41,872 42,294 41,927 Earnings (loss) per share – basic $ 0.29 $ 0.70 $ 1.15 $ (0.46) Earnings (loss) per share – diluted: Net income (loss) $ 12,501 $ 29,444 $ 48,955 $ (19,373) Net income attributable to non-controlling interest (37) (27) (99) (46) Net income (loss) attributable to Deluxe 12,464 29,417 48,856 (19,419) Income allocated to participating securities (9) — (27) (42) Re-measurement of share-based awards classified as liabilities (329) — (329) (794) Income (loss) attributable to Deluxe available to common shareholders $ 12,126 $ 29,417 $ 48,500 $ (20,255) Weighted-average shares outstanding 42,574 41,872 42,294 41,927 Dilutive impact of potential common shares 457 119 453 40 Weighted-average shares and potential common shares outstanding 43,031 41,991 42,747 41,967 Earnings (loss) per share – diluted $ 0.28 $ 0.70 $ 1.13 $ (0.48) Antidilutive options excluded from calculation 2,314 2,086 2,314 2,160

Other comprehensive income (los

Other comprehensive income (loss)	9 Months Ended
	Sep. 30, 2021
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 Nine Months Ended (in thousands) 2021 2020 2021 2020 Realized loss on interest rate swap $ (371) $ (326) $ (1,035) $ (514) Interest expense Tax benefit 97 85 271 134 Income tax provision Realized loss on interest rate swap, net of tax (274) (241) (764) (380) Net income (loss) Amortization of postretirement benefit plan items: Prior service credit 355 355 1,066 1,066 Other income Net actuarial loss (407) (575) (1,221) (1,725) Other income Total amortization (52) (220) (155) (659) Other income Tax (expense) benefit (30) 12 (93) 35 Income tax provision Amortization of postretirement benefit plan items, net of tax (82) (208) (248) (624) Net income (loss) Total reclassifications, net of tax $ (356) $ (449) $ (1,012) $ (1,004) Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the nine months ended September 30, 2021 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, 2020 $ (21,956) $ (90) $ (5,351) $ (14,036) $ (41,433) Other comprehensive (loss) income before reclassifications — (208) 1,077 (679) 190 Amounts reclassified from accumulated other comprehensive loss 248 — 764 — 1,012 Net current-period other comprehensive income (loss) 248 (208) 1,841 (679) 1,202 Balance, September 30, 2021 $ (21,708) $ (298) $ (3,510) $ (14,715) $ (40,231) (1) Other comprehensive loss before reclassifications is net of an income tax benefit of $72. (2) Other comprehensive income before reclassifications is net of income tax expense of $382.

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Acquisition	On June 1, 2021, we acquired all of the equity of First American in a cash transaction for $956,717, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired, subject to customary adjustments under the terms of the acquisition agreement. First American is a large-scale payments technology company that provides partners and merchants with comprehensive in-store, online and mobile payment solutions. The preliminary allocation of the purchase price to the assets acquired and liabilities assumed resulted in non-tax deductible goodwill of $732,520. The transaction resulted in goodwill as First American provides an end-to-end payments technology platform, which we believe will provide significant leverage to accelerate organic growth. The acquisition was funded with cash on hand and proceeds from new debt. Information regarding our debt can be found in Note 12. The goodwill and results of operations of First American from the date of acquisition are included in the Payments segment. The acquisition was accounted for as a business combination and the preliminary allocation of the purchase price to the assets acquired and liabilities assumed was based upon preliminary valuations performed to determine the fair values of the acquired items as of the acquisition date. The valuations, particularly as they relate to intangible assets, are preliminary. They may be adjusted for up to one year after the closing date to reflect final valuations, as we continue to evaluate the various inputs utilized in the valuations. During the quarter ended September 30, 2021, we recorded measurement-period adjustments that included a $3,788 decrease in goodwill and a $3,694 increase in internal-use software. The following illustrates the preliminary allocation of the purchase price, as of September 30, 2021, to the assets acquired and liabilities assumed: (in thousands) Purchase price allocation Accounts receivable $ 27,296 Other current assets 8,533 Property, plant and equipment 9,873 Operating lease assets 24,396 Intangible assets: Customer relationships 118,000 Partner relationships 67,000 Technology-based intangibles 66,000 Trade names 22,000 Internal-use software 6,111 Total intangible assets 279,111 Goodwill 732,520 Other non-current assets 350 Accounts payable (18,475) Funds held for customers (9,428) Accrued liabilities (20,551) Operating lease liabilities, non-current (21,316) Deferred income taxes (51,216) Other non-current liabilities (4,376) Payment for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired of $15,841 $ 956,717 Information regarding the useful lives of the acquired intangibles can be found in Note 3. Information regarding the calculation of the estimated fair values of the acquired intangibles can be found in Note 8. Our results of operations for the quarter ended September 30, 2021 included revenue of $82,485 and net income of $890 from the operations of First American. Our results of operations for the nine months ended September 30, 2021 included revenue of $109,828 and net income of $824 from the operations of First American. In addition, we incurred acquisition transaction costs of $208 for the quarter ended September 30, 2021 and $18,816 for the nine months ended September 30, 2021, which were included in SG&A expense in the consolidated statements of comprehensive income. The following unaudited pro forma financial information summarizes our consolidated results of operations as though the acquisition occurred on January 1, 2020: Pro Forma Statements of Comprehensive Income (Loss) Quarter Ended Nine Months Ended (in thousands) 2020 2021 2020 Revenue $ 628,356 $ 1,613,333 $ 1,664,644 Net income (loss) attributable to Deluxe 21,694 50,176 (58,565) The unaudited pro forma financial information was prepared in accordance with our accounting policies, which can be found under the caption "Note 1: Significant Accounting Policies" in the Notes to Consolidated Financial Statements appearing in the 2020 Form 10-K. The pro forma information includes adjustments to reflect the additional amortization that would have been charged assuming the fair value adjustments to intangible assets had been applied from January 1, 2020, with the consequential tax effects. The pro forma information also includes adjustments to reflect the additional interest expense on the debt we issued to fund the acquisition (Note 12). The acquisition transaction costs we incurred are reflected in the pro forma results for the nine months ended September 30, 2020.

Derivative financial instrument

Derivative financial instruments	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative financial instruments	As part of our interest rate risk management strategy, we entered into an interest rate swap in July 2019, which we designated as a cash flow hedge, to mitigate variability in interest payments on a portion of our variable-rate debt (Note 12). The interest rate swap, which terminates in March 2023, 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 $4,716 as of September 30, 2021 and $7,210 as of December 31, 2020 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 September 30, 2021 and December 31, 2020 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	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair value measurements	Our policies on impairment of goodwill and indefinite-lived intangible assets and impairment of long-lived assets and amortizable intangibles explain our methodology for assessing impairment of these assets and can be found under the caption "Note 1: Significant Accounting Policies" in the Notes to Consolidated Financial Statements appearing in the 2020 Form 10-K. Second quarter 2021 goodwill impairment analyses – As a result of changes in our financial management reporting process during the second quarter of 2021, we 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 the reporting units with goodwill. 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 realignment of our reporting units, effective April 1, 2021, did not change the reporting units within our Cloud Solutions or Checks segments. Within our Payments segment, the number of reporting units increased from 1 to 4, and within our Promotional Solutions segment, the number of reporting units increased from 1 to 2. Upon completing the realignment, 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 qualitative analyses for the reporting units that changed and to which goodwill was assigned. We determined that it was appropriate to perform qualitative assessments, given that our analysis indicated that the change in reporting units did not mask or prevent an impairment that existed at the time of the change. In completing the qualitative 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. As such, no goodwill impairment charges were recorded during the quarter ended June 30, 2021. 2021 annual goodwill impairment analyses – In completing the 2021 annual impairment analysis of goodwill as of July 31, 2021, we elected to perform qualitative analyses for all of our reporting units. These 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 most recent quantitative analyses completed in prior periods. In completing these assessments, we noted no changes in events or circumstances that indicated that it was more likely than not that the fair values of our reporting units were less than their carrying amounts. 2020 asset impairment charges – During the quarter ended March 31, 2020, we concluded that a triggering event had occurred for 2 of our reporting units as a result of the COVID-19 pandemic. As such, we completed goodwill impairment analyses for these 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 $67,132 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, $59,009 of goodwill remained in the Promotional Solutions reporting unit as of the measurement date. Also as a result of the impacts of the COVID-19 pandemic, 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, primarily related to 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. During the third quarter of 2020, as customer attrition continued, we again assessed this asset group for impairment and recorded an additional asset impairment charge of $2,356, bringing the total impairment charge to $5,108 in 2020. In calculating the estimated fair value of the asset group as of September 30, 2020, we assumed no revenue growth, a 1.0 point improvement in gross margin and a discount rate of 11%. Also during the nine months ended September 30, 2020, we recorded asset impairment charges of $7,514, primarily related to the rationalization of our real estate footprint, as well as internal-use software and a small business customer list. These assets were written down to their estimated fair values less costs to sell and the sale of the related real estate was completed during the quarter ended September 30, 2020. Information regarding the asset impairment analyses completed during the nine months ended September 30, 2020 was as follows: Fair value measurements using Fair value as of measurement date Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs Impairment charge (in thousands) (Level 1) (Level 2) (Level 3) Intangible assets (Cloud Solutions Web Hosting reporting unit) (1) $ 2,172 $ — $ — $ 2,172 $ 17,678 Small business distributor 4,479 — — 4,479 5,108 Other assets 11,210 — — 11,210 7,514 Goodwill (2) 71,449 Total $ 101,749 (1) The impairment charge consisted of $8,397 related to customer lists, $6,932 related to internal-use software and $2,349 related to other intangible assets. (2) Amount presented here has been revised from what was previously reported to correct the error described in Note 1. Business combination – On June 1, 2021, we acquired all of the equity of First American (Note 6). For all acquisitions, we are required to measure the fair value of the net identifiable tangible and intangible assets and liabilities acquired. The identifiable net assets acquired were comprised primarily of intangible assets, accounts receivable and operating lease assets and liabilities. The fair values of the customer relationship and partner relationship intangibles were estimated using the multi-period excess earnings method. This valuation model estimates revenues and cash flows derived from the asset and then deducts portions of the cash flow that can be attributed to supporting assets, such as a trade name or technology, that contributed to the generation of the cash flows. The resulting cash flow, which is attributable solely to the customer relationship or partner relationship asset, is then discounted at a rate of return commensurate with the risk of the asset to calculate a present value. Key assumptions used in the calculations included same-customer revenue and partner growth rates, estimated earnings, estimated customer and partner retention rates based on First American's historical information and the discount rate. The estimated fair values of the acquired trade names and technology-based intangibles were estimated using the relief from royalty method, which calculates the cost savings associated with owning rather than licensing the assets. Assumed royalty rates were applied to projected revenue for the estimated remaining useful lives of the assets to estimate the royalty savings. Royalty rates are selected based on the attributes of the asset, including its recognition and reputation in the industry, and in the case of trade names, with consideration of the specific profitability of the products sold under a trade name and supporting assets. The fair value of acquired accounts receivable approximates the gross contractual amounts receivable and we expect to collect all acquired receivables. The fair value of the acquired operating lease liabilities was estimated as if the leases were new. As such, we reassessed the lease term, the discount rate and the lease payments. The fair value of the related operating lease assets was measured at the same amount as the lease liability, adjusted to reflect favorable or unfavorable terms of the lease as compared to market terms. Recurring fair value measurements – Funds held for customers included available-for-sale debt securities (Note 3). These securities included a mutual fund investment that invests in Canadian and provincial government securities and an investment in a Canadian guaranteed investment certificate (GIC) with a maturity of 2 years. As of December 31, 2020, our debt securities also included a money market fund that was traded in an active market. The mutual fund investment 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 cost of the GIC approximates its fair value, based on estimates using current market rates offered for deposits with similar remaining maturities. The cost of the money market fund approximated its fair value because of the short-term nature of the investment. 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 during the quarters or nine months ended September 30, 2021 and 2020. Information regarding the fair values of our financial instruments was as follows: Fair value measurements using September 30, 2021 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) Balance sheet location Carrying value Fair value Measured at fair value through comprehensive income (loss): Available-for-sale debt securities Funds held for customers 13,302 13,302 — 13,302 — Derivative liability (Note 7) Other non-current liabilities (4,716) (4,716) — (4,716) — Amortized cost: Cash Cash and cash equivalents 121,064 121,064 121,064 — — Cash Funds held for customers 129,180 129,180 129,180 — — Loans and notes receivable from distributors Other current and non-current assets 21,729 21,683 — — 21,683 Long-term debt Current portion of long-term debt and long-term debt 1,776,167 1,821,713 — 1,821,713 — Fair value measurements using December 31, 2020 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) Balance sheet location Carrying value Fair value Measured at fair value through comprehensive income (loss): Cash equivalents Funds held for customers $ 15,000 $ 15,000 $ 15,000 $ — $ — Available-for-sale debt securities Funds held for customers 13,462 13,462 — 13,462 — Derivative liability (Note 7) Other non-current liabilities (7,210) (7,210) — (7,210) — Amortized cost: Cash Cash and cash equivalents 123,122 123,122 123,122 — — Cash Funds held for customers 91,287 91,287 91,287 — — Loans and notes receivable from distributors Other current and non-current assets 37,076 36,950 — — 36,950 Long-term debt Long-term debt 840,000 840,000 — 840,000 —

Restructuring and integration e

Restructuring and integration expense	9 Months Ended
	Sep. 30, 2021
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 and sales 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 costs associated with our initiatives, such as training, travel and relocation and costs associated with facility closures. In addition, we recorded employee severance costs related to these initiatives, as well as our ongoing cost reduction initiatives across functional areas. We are currently pursuing several initiatives designed to support our growth strategy 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 Nine Months Ended (in thousands) 2021 2020 2021 2020 Total cost of revenue $ 1,559 $ (26) $ 3,073 $ 831 Operating expenses 12,335 18,949 38,012 56,957 Restructuring and integration expense $ 13,894 $ 18,923 $ 41,085 $ 57,788 Restructuring and integration expense for each period was comprised of the following: Quarter Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 External consulting fees $ 6,432 $ 14,898 $ 19,355 $ 37,136 Internal labor 1,756 2,218 6,276 5,200 Employee severance benefits 1,293 752 3,167 10,870 Other 4,413 1,055 12,287 4,582 Restructuring and integration expense $ 13,894 $ 18,923 $ 41,085 $ 57,788 Our restructuring and integration accruals are included in accrued liabilities on the consolidated balance sheets and 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. The majority of the employee reductions are expected to be completed in the fourth quarter of 2021, and we expect most of the related severance payments to be paid by early 2022, utilizing cash from operations. Changes in our restructuring and integration accruals were as follows: (in thousands) Employee severance benefits Balance, December 31, 2020 $ 6,798 Charges 4,690 Reversals (1,523) Payments (8,632) Balance, September 30, 2021 $ 1,333 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	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax provision	The effective tax rate on pretax income (loss) reconciles to the U.S. federal statutory tax rate as follows: Nine Months Ended September 30, 2021 Year Ended December 31, 2020 (1) Income tax at federal statutory rate 21.0 % 21.0 % Goodwill impairment charges (Note 8) — 46.8 % State income tax expense, net of federal income tax benefit 3.1 % 2.1 % Non-deductible acquisition costs 2.8 % — Non-deductible executive compensation 1.7 % 2.2 % Foreign tax rate differences 1.2 % 4.3 % Tax impact of share-based compensation 0.8 % 8.5 % Change in unrecognized tax benefits, including interest and penalties 0.4 % (3.3 %) Research and development tax credit (0.8 %) (3.7 %) Payables and receivables for prior year tax returns (0.3 %) 3.2 % Non-taxable income from employee life insurance policies (0.3 %) (1.1 %) Return to provision adjustments (0.1 %) (2.6 %) Change in valuation allowances — 0.9 % Other 0.2 % 1.8 % Effective tax rate 29.7 % 80.1 %

Postretirement benefits

Postretirement benefits	9 Months Ended
	Sep. 30, 2021
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 2020 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 Nine Months Ended (in thousands) 2021 2020 2021 2020 Interest cost $ 242 $ 478 $ 726 $ 1,434 Expected return on plan assets (1,875) (1,905) (5,623) (5,714) Amortization of prior service credit (355) (355) (1,066) (1,066) Amortization of net actuarial losses 407 575 1,221 1,725 Net periodic benefit income $ (1,581) $ (1,207) $ (4,742) $ (3,621)

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt outstanding was comprised of the following: (in thousands) September 30, December 31, 2020 Senior, secured term loan facility $ 1,116,563 $ — Senior, unsecured notes 500,000 — Amounts drawn on senior, secured revolving credit facility 180,000 840,000 Total principal amount 1,796,563 840,000 Less: unamortized discount and debt issuance costs (20,396) — Total debt, net of discount and debt issuance costs 1,776,167 840,000 Less: current portion of long-term debt, net of debt issuance costs (57,167) — Long-term debt $ 1,719,000 $ 840,000 Maturities of long-term debt were as follows as of September 30, 2021: (in thousands) Debt obligations Remainder of 2021 $ 14,438 2022 57,750 2023 72,188 2024 86,625 2025 101,062 Thereafter 1,464,500 Total principal amount $ 1,796,563 Credit facility – Debt outstanding as of December 31, 2020 consisted of amounts drawn on our previous revolving credit facility. In June 2021, we executed a new credit agreement that provides for a 5-year revolving credit facility with commitments of $500,000 and a term loan facility in the amount of $1,155,000. The revolving credit facility includes a $40,000 swingline sub-facility and a $25,000 letter of credit sub-facility. Our previous credit facility agreement was terminated contemporaneously with our entry into the new credit agreement and was repaid utilizing proceeds from the new credit facility. We also utilized the proceeds from the new credit facility to complete the acquisition of First American in June 2021 (Note 6) and to pay related debt issuance costs. Loans under the revolving credit facility may be borrowed, repaid and re-borrowed until June 1, 2026, at which time all amounts borrowed must be repaid. The term loan facility will be repaid in equal quarterly installments of $14,438 from September 30, 2021 through June 30, 2023, $21,656 from September 30, 2023 through June 30, 2025, and $28,875 from September 30, 2025 through March 31, 2026. The remaining balance is due on June 1, 2026. The term loan facility also includes mandatory prepayment requirements related to asset sales, new debt (other than permitted debt) and excess cash flow, subject to certain limitations. No premium or penalty is payable in connection with any mandatory or voluntary prepayment of the term loan facility. Interest is payable on the senior, secured credit facility at a fluctuating rate of interest determined by reference to the eurodollar rate plus an applicable margin ranging from 1.5% to 2.5%, depending on our consolidated total leverage ratio, as defined in the credit agreement. A commitment fee is payable on the unused portion of the revolving credit facility at a rate ranging from 0.25% to 0.35%, depending on our consolidated total leverage ratio. Amounts outstanding under our credit facilities had a weighted-average interest rate of 2.63% as of September 30, 2021 and 2.01% as of December 31, 2020, including the impact of an interest rate swap that effectively converts $200,000 of our variable-rate debt to fixed rate debt. Further information regarding the interest rate swap can be found in Note 7. Borrowings under the credit facility are collateralized by substantially all of the present and future tangible and intangible personal property held by us and our subsidiaries that have guaranteed our obligations under the credit facility, subject to certain exceptions. The credit agreement contains customary covenants regarding limits on levels of indebtedness, liens, mergers, certain asset dispositions, changes in business, advances, investments, loans and restricted payments. The covenants are subject to a number of limitations and exceptions set forth in the credit agreement. The credit agreement also includes requirements regarding our consolidated total leverage ratio and our consolidated secured leverage ratio, as defined in the credit agreement. These ratios may not equal or exceed the following amounts during the periods indicated: Fiscal Quarter Ending Consolidated total leverage ratio Consolidated secured leverage ratio September 30, 2021 through March 31, 2022 5.00 to 1:00 4.00 to 1:00 June 30, 2022 through March 31, 2023 4.75 to 1:00 3.75 to 1:00 June 30, 2023 through March 31, 2024 4.50 to 1:00 3.50 to 1:00 June 30, 2024 and each fiscal quarter thereafter 4.25 to 1:00 3.50 to 1:00 In addition, we must maintain a minimum interest coverage ratio of at least 2.75 to 1.00 through March 31, 2022 and 3.00 to 1.00 thereafter. The credit agreement contains customary representations and warranties and, as a condition to borrowing, requires that all such representations and warranties be true and correct in all material respects on the date of each borrowing, including representations as to no material adverse change in our business, assets, operations or financial condition. If our consolidated total leverage ratio exceeds 2.75 to 1.00, the aggregate annual amount of permitted dividends and share repurchases is limited to $60,000. Daily average amounts outstanding under our current and previous credit agreements were as follows: (in thousands) Nine Months Ended September 30, 2021 Year Ended Daily average amount outstanding $ 1,062,925 $ 1,016,896 Weighted-average interest rate 2.35 % 2.12 % As of September 30, 2021, amounts were available for borrowing under our revolving credit facility as follows: (in thousands) Total available Revolving credit facility commitment $ 500,000 Amounts drawn on revolving credit facility (180,000) Outstanding letters of credit (1) (7,475) Net available for borrowing as of September 30, 2021 $ 312,525 (1) We use standby letters of credit primarily to collateralize certain obligations related 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. Senior unsecured notes

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Leases were reflected on the consolidated balance sheets as follows: (in thousands) September 30, December 31, Operating leases: Operating lease assets $ 58,442 $ 35,906 Accrued liabilities $ 12,884 $ 11,589 Operating lease liabilities 49,827 28,344 Total operating lease liabilities $ 62,711 $ 39,933 Weighted-average remaining lease term (in years) 5.5 4.7 Weighted-average discount rate 4.5 % 3.1 % Finance leases: Property, plant and equipment, gross $ 35,575 $ 6,970 Accumulated depreciation (7,136) (6,324) Property, plant and equipment, net $ 28,439 $ 646 Accrued liabilities $ 347 $ 459 Other non-current liabilities 27,202 140 Total finance lease liabilities $ 27,549 $ 599 Weighted-average remaining lease term (in years) 15.8 1.5 Weighted-average discount rate 6.0 % 2.0 % The components of lease expense were as follows: Quarter Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Operating lease expense $ 4,497 $ 5,006 $ 12,897 $ 15,044 Finance lease expense: Amortization of right-of-use asset $ 547 $ 187 $ 816 $ 561 Interest on lease liabilities 432 5 437 17 Total finance lease expense $ 979 $ 192 $ 1,253 $ 578 Supplemental cash flow information related to leases was as follows: Quarter Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Lease assets obtained in exchange for lease obligations: Operating leases (1) $ — $ — $ 33,948 $ 10,105 Finance leases (2) 26,889 — 26,889 — Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 3,653 $ 5,225 $ 12,649 $ 13,993 Operating cash flows from finance leases 2 5 7 17 Financing cash flows from finance leases 104 181 369 575 (1) Includes operating lease assets and related liabilities of $24,396 recorded in conjunction with the acquisition of First American in June 2021 (Note 6). (2) Consists of a lease on a facility located in Minnesota that commenced in July 2021. Maturities of lease liabilities were as follows as of September 30, 2021: (in thousands) Operating lease obligations Finance lease obligations Remainder of 2021 $ 4,032 $ 79 2022 18,545 1,313 2023 13,827 2,709 2024 12,668 2,743 2025 10,691 2,777 Thereafter 23,854 34,691 Total lease payments 83,617 44,312 Less lease incentives receivable (10,250) — Less imputed interest (10,656) (16,763) Present value of lease payments $ 62,711 $ 27,549

Other commitments and contingen

Other commitments and contingencies	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021 or December 31, 2020. First American indemnification – Pursuant to the First American acquisition agreement, we are entitled to limited indemnification for certain expenses and losses, if any, that may be incurred after the consummation of the transaction that arise out of certain matters, including a Federal Trade Commission investigation initiated in December 2019 seeking information to determine whether certain subsidiaries of First American may have engaged in conduct prohibited by the Federal Trade Commission Act, the Fair Credit Reporting Act or the Duties of Furnishers of Information. As fully set forth in the merger agreement, our rights to indemnification for any such expenses and losses are limited to the amount of an indemnity holdback, which will be our sole recourse for any such losses. Neither a liability for any fines nor any asset for the related holdback have been recorded in our consolidated financial statements as of September 30, 2021, as the amount cannot be reasonably estimated. 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 $8,738 as of September 30, 2021 and $9,046 as of December 31, 2020. These accruals are included in accrued liabilities and other non-current liabilities on the consolidated balance sheets. Our workers' compensation liability is recorded at present value. The difference between the discounted and undiscounted liability was not significant as of September 30, 2021 or December 31, 2020. 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	9 Months Ended
	Sep. 30, 2021
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 first nine months of 2021 and $287,452 remained available for repurchase under the authorization as of September 30, 2021. During the quarter ended June 30, 2021, we issued 294 thousand shares to employees of First American in conjunction with the acquisition (Note 6), resulting in cash proceeds of $13,000 during the quarter.

Business segment information

Business segment information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business segment information	We operate 4 reportable segments, generally 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; merchant in-store, online and mobile payment solutions; 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 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 2020 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. 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. Segment information for the quarters and nine months ended September 30, 2021 and 2020 was as follows: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Payments: Revenue $ 160,268 $ 74,675 $ 343,045 $ 223,886 Adjusted EBITDA 31,598 16,746 71,125 50,352 Cloud Solutions: Revenue 69,497 63,758 199,784 193,600 Adjusted EBITDA 19,036 16,425 55,047 45,494 Promotional Solutions: Revenue 130,330 124,929 389,825 385,667 Adjusted EBITDA 17,673 21,478 56,804 46,529 Checks: Revenue 172,046 176,099 518,968 533,135 Adjusted EBITDA 77,254 84,954 240,979 258,392 Total segment: Revenue $ 532,141 $ 439,461 $ 1,451,622 $ 1,336,288 Adjusted EBITDA 145,561 139,603 423,955 400,767 The following table presents a reconciliation of total segment adjusted EBITDA to consolidated income (loss) before income taxes: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Total segment adjusted EBITDA $ 145,561 $ 139,603 $ 423,955 $ 400,767 Corporate operations (42,832) (37,090) (133,259) (131,101) Depreciation and amortization expense (41,906) (27,972) (102,929) (83,065) Interest expense (21,494) (5,083) (35,548) (18,254) Pretax income attributable to non-controlling interest 37 21 99 46 Asset impairment charges — (2,760) — (101,749) Restructuring, integration and other costs (13,894) (18,941) (41,085) (59,064) CEO transition costs — — — (10) Share-based compensation expense (7,434) (6,240) (21,801) (15,335) Acquisition transaction costs (208) — (18,816) (9) Certain legal-related (expense) benefit (638) — (941) 2,165 Loss on sales of customer lists — — — (18) Income (loss) before income taxes $ 17,192 $ 41,538 $ 69,675 $ (5,627) The following tables present revenue disaggregated by our product and service offerings: Quarter Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 172,046 $ 172,046 Merchant services and other payments solutions 103,014 — — — 103,014 Forms and other products — — 68,646 — 68,646 Marketing and promotional solutions — — 61,684 — 61,684 Treasury management solutions 57,254 — — — 57,254 Data-driven marketing solutions — 41,956 — — 41,956 Web and hosted solutions — 27,541 — — 27,541 Total revenue $ 160,268 $ 69,497 $ 130,330 $ 172,046 $ 532,141 Quarter Ended September 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 176,099 $ 176,099 Merchant services and other payments solutions 19,257 — — — 19,257 Forms and other products — — 77,492 — 77,492 Marketing and promotional solutions — — 47,437 — 47,437 Treasury management solutions 55,418 — — — 55,418 Data-driven marketing solutions — 30,508 — — 30,508 Web and hosted solutions — 33,250 — — 33,250 Total revenue $ 74,675 $ 63,758 $ 124,929 $ 176,099 $ 439,461 Nine Months Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 518,968 $ 518,968 Merchant services and other payments solutions 170,431 — — — 170,431 Forms and other products — — 218,622 — 218,622 Marketing and promotional solutions — — 171,203 — 171,203 Treasury management solutions 172,614 — — — 172,614 Data-driven marketing solutions — 115,120 — — 115,120 Web and hosted solutions — 84,664 — — 84,664 Total revenue $ 343,045 $ 199,784 $ 389,825 $ 518,968 $ 1,451,622 Nine Months Ended September 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 533,135 $ 533,135 Merchant services and other payments solutions 56,808 — — — 56,808 Forms and other products — — 234,735 — 234,735 Marketing and promotional solutions — — 150,932 — 150,932 Treasury management solutions 167,078 — — — 167,078 Data-driven marketing solutions — 88,927 — — 88,927 Web and hosted solutions — 104,673 — — 104,673 Total revenue $ 223,886 $ 193,600 $ 385,667 $ 533,135 $ 1,336,288 The following tables present revenue disaggregated by geography, based on where items are shipped from or where services are performed: Quarter Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 150,594 $ 60,778 $ 124,571 $ 166,339 $ 502,282 Foreign, primarily Canada and Australia 9,674 8,719 5,759 5,707 29,859 Total revenue $ 160,268 $ 69,497 $ 130,330 $ 172,046 $ 532,141 Quarter Ended September 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 66,377 $ 55,755 $ 118,454 $ 170,865 $ 411,451 Foreign, primarily Canada and Australia 8,298 8,003 6,475 5,234 28,010 Total revenue $ 74,675 $ 63,758 $ 124,929 $ 176,099 $ 439,461 Nine Months Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 312,874 $ 173,555 $ 373,042 $ 501,152 $ 1,360,623 Foreign, primarily Canada and Australia 30,171 26,229 16,783 17,816 90,999 Total revenue $ 343,045 $ 199,784 $ 389,825 $ 518,968 $ 1,451,622 Nine Months Ended September 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 198,965 $ 169,917 $ 369,023 $ 516,961 $ 1,254,866 Foreign, primarily Canada and Australia 24,921 23,683 16,644 16,174 81,422 Total revenue $ 223,886 $ 193,600 $ 385,667 $ 533,135 $ 1,336,288

Risks and uncertainties

Risks and uncertainties	9 Months Ended
	Sep. 30, 2021
Risks and Uncertainties [Abstract]
Risks and uncertainties	The impact on our business of the continuing COVID-19 pandemic continues to evolve. As such, we are uncertain of the impact on our future financial condition, liquidity and/or 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 8, the COVID-19 pandemic resulted in a goodwill impairment triggering event during the first quarter of 2020, as the adverse economic effects of the pandemic materially decreased demand for the products and services we provide to our customers. The extent to which the pandemic will continue to impact our business depends on future developments, including the severity and duration of the pandemic, the impact of variants of the virus, the distribution and effectiveness of vaccines, 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 impact 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 Promotional Solutions distributors of $21,729 as of September 30, 2021. These distributors sell our products and services primarily to small businesses, which have been significantly impacted by the COVID-19 pandemic. As of September 30, 2021, our allowance for expected credit losses on these receivables was $2,837. We utilized all information known to us in determining this allowance, as well as allowances related to our trade accounts receivable and unbilled receivables. If our assumptions prove to be incorrect, we may be required to record additional bad debt expense in the future. Additionally, uncertainty surrounding the impact of COVID-19 could affect estimates we made regarding inventory obsolescence and workers' compensation liabilities and thus, could result in additional expense in the future.

Consolidated financial statem_2

Consolidated financial statements (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impact of revision on consolidated financial statements	The impact of the revision on the consolidated statement of comprehensive loss for the nine months ended September 30, 2020 was as follows: (in thousands, except per share amounts) As previously reported Adjustments As revised Asset impairment charges $ (97,973) $ (3,776) $ (101,749) Operating income 7,921 (3,776) 4,145 Loss before income taxes (1,851) (3,776) (5,627) Income tax provision (13,958) 212 (13,746) Net loss (15,809) (3,564) (19,373) Net loss attributable to Deluxe (15,855) (3,564) (19,419) Total comprehensive loss (20,766) (3,564) (24,330) Comprehensive loss attributable to Deluxe (20,812) (3,564) (24,376) Basic loss per share (0.38) (0.08) (0.46) Diluted loss per share (0.40) (0.08) (0.48) The impact of the revision on the consolidated balance sheet as of December 31, 2020 was as follows: (in thousands) As previously reported Adjustments As revised ASSETS Deferred income taxes $ 5,444 $ 1,198 $ 6,642 Goodwill 736,844 (33,886) 702,958 Total assets 1,874,863 (32,688) 1,842,175 LIABILITIES AND SHAREHOLDERS' EQUITY Deferred income taxes $ 10,643 $ (5,242) $ 5,401 Retained earnings 522,599 (27,446) 495,153 Total shareholders' equity 540,838 (27,446) 513,392 Total liabilities and shareholders' equity 1,874,863 (32,688) 1,842,175 The impact of the revision on the consolidated statement of cash flows for the nine months ended September 30, 2020 was as follows: (in thousands) As previously reported Adjustments As revised Cash flows from operating activities: Net loss $ (15,809) $ (3,564) $ (19,373) Asset impairment charges 97,973 3,776 101,749 Deferred income taxes (9,395) (212) (9,607)

Supplemental balance sheet an_2

Supplemental balance sheet and cash flow information (Tables)	9 Months Ended
	Sep. 30, 2021
Inventories and supplies	Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) September 30, December 31, Raw materials $ 5,327 $ 5,412 Semi-finished goods 7,156 7,943 Finished goods 22,788 33,513 Supplies 5,580 5,010 Reserve for excess and obsolete items (5,496) (11,748) Inventories and supplies $ 35,355 $ 40,130 Changes in the reserve for excess and obsolete items were as follows for the nine months ended September 30, 2021 and 2020: Nine Months Ended (in thousands) 2021 2020 Balance, beginning of year $ 11,748 $ 6,600 Amounts charged to expense 2,884 1,270 Write-offs and sales (9,136) (1,188) Balance, end of period $ 5,496 $ 6,682
Available-for-sale debt securities	Available-for-sale debt securities – Available-for-sale debt securities included within funds held for customers were comprised of the following: September 30, 2021 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Canadian and provincial government securities $ 9,674 $ — $ (315) $ 9,359 Canadian guaranteed investment certificate 3,943 — — 3,943 Available-for-sale debt securities $ 13,617 $ — $ (315) $ 13,302 (1) Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2021, also included cash of $129,180. December 31, 2020 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Domestic money market fund $ 15,000 $ — $ — $ 15,000 Canadian and provincial government securities 9,566 — (33) 9,533 Canadian guaranteed investment certificate 3,929 — — 3,929 Available-for-sale debt securities $ 28,495 $ — $ (33) $ 28,462 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2020, also included cash of $91,287.
Expected maturities of available-for-sale debt securities	Expected maturities of available-for-sale debt securities as of September 30, 2021 were as follows: (in thousands) Fair value Due in one year or less $ 7,041 Due in two to five years 3,453 Due in six to ten years 2,808 Available-for-sale debt securities $ 13,302
Revenue in excess of billings	Revenue in excess of billings – Revenue in excess of billings was comprised of the following: (in thousands) September 30, December 31, Conditional right to receive consideration $ 28,157 $ 13,950 Unconditional right to receive consideration (1) 13,032 3,667 Revenue in excess of billings $ 41,189 $ 17,617
Intangibles	Intangibles – Intangibles were comprised of the following: September 30, 2021 December 31, 2020 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Amortizable intangibles: Customer lists/relationships $ 495,416 $ (243,817) $ 251,599 $ 352,895 $ (202,428) $ 150,467 Internal-use software 439,785 (337,242) 102,543 380,144 (303,422) 76,722 Technology-based intangibles 99,813 (35,013) 64,800 33,813 (27,613) 6,200 Partner relationships 67,406 (1,525) 65,881 — — — Trade names 52,033 (30,766) 21,267 30,281 (29,926) 355 Software to be sold 36,900 (27,054) 9,846 36,900 (23,884) 13,016 Intangibles $ 1,191,353 $ (675,417) $ 515,936 $ 834,033 $ (587,273) $ 246,760
Estimated future amortization expense	Based on the intangibles in service as of September 30, 2021, estimated future amortization expense is as follows: (in thousands) Estimated Remainder of 2021 $ 41,235 2022 130,462 2023 101,863 2024 62,576 2025 46,791
Acquired intangibles	The following intangibles were acquired during the nine months ended September 30, 2021, including assets acquired in conjunction with the acquisition of First American (Note 6): (in thousands) Amount Weighted-average amortization period Customer lists/relationships (1) $ 142,514 8 Partner relationships 67,406 15 Technology-based intangibles 66,000 8 Internal-use software 59,429 3 Trade names 22,000 10 Acquired intangibles $ 357,349 9 (1) Included $118,000 acquired via the First American acquisition (Note 6) with a weighted-average useful life of 8 years.
Goodwill	Goodwill – Changes in goodwill by reportable segment and in total for the nine months ended September 30, 2021 were as follows: (in thousands) Payments Cloud Solutions Promotional Solutions Checks Total Balance, December 31, 2020: Goodwill, gross $ 168,165 $ 432,984 $ 252,864 $ 434,812 $ 1,288,825 Accumulated impairment charges — (392,168) (193,699) — (585,867) Goodwill, net of accumulated impairment charges 168,165 40,816 59,165 434,812 702,958 Goodwill resulting from acquisition (Note 6) 732,520 — — — 732,520 Currency translation adjustment — — 5 — 5 Balance, September 30, 2021 $ 900,685 $ 40,816 $ 59,170 $ 434,812 $ 1,435,483 Balance, September 30, 2021: Goodwill, gross $ 900,685 $ 432,984 $ 252,869 $ 434,812 $ 2,021,350 Accumulated impairment charges — (392,168) (193,699) — (585,867) Goodwill, net of accumulated impairment charges $ 900,685 $ 40,816 $ 59,170 $ 434,812 $ 1,435,483
Other non-current assets	Other non-current assets – Other non-current assets were comprised of the following: (in thousands) September 30, December 31, Postretirement benefit plan asset $ 76,435 $ 71,208 Cloud computing arrangements 52,900 29,242 Prepaid product discounts 51,270 50,602 Loans and notes receivable from distributors, net of allowances for uncollectible accounts (1) 20,424 35,068 Deferred contract acquisition costs (2) 17,480 9,199 Other 31,463 13,360 Other non-current assets $ 249,972 $ 208,679 (1) Amount Includes the non-current portion of loans and notes receivable. The current portion of these receivables is included in other current assets on the consolidated balance sheets and was $1,305 as of September 30, 2021 and $2,008 as of December 31, 2020. (2) Amortization of deferred contract acquisition costs was $3,366 for the nine months ended September 30, 2021 and $2,756 for the nine months ended September 30, 2020.
Loans and notes receivable by credit quality Indicator	The following table presents loans and notes receivable from distributors, including the current portion, by credit quality indicator and by year of origination, as of September 30, 2021. There were no write-offs or recoveries recorded during the nine months ended September 30, 2021. Loans and notes receivable from distributors amortized cost basis by origination year (in thousands) 2020 2019 2018 2017 Prior Total Risk rating: 1-2 internal grade $ 1,256 $ 497 $ 7,187 $ 11,705 $ 1,322 $ 21,967 3-4 internal grade — 2,599 — — — 2,599 Loans and notes receivable $ 1,256 $ 3,096 $ 7,187 $ 11,705 $ 1,322 $ 24,566
Changes in prepaid product discounts	Changes in prepaid product discounts during the nine months ended September 30, 2021 and 2020 were as follows: Nine Months Ended (in thousands) 2021 2020 Balance, beginning of year $ 50,602 $ 51,145 Additions (1) 24,284 13,259 Amortization (23,425) (21,725) Other (191) (1,430) Balance, end of period $ 51,270 $ 41,249 (1) Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $27,049 for the nine months ended September 30, 2021 and $24,947 for the nine months ended September 30, 2020.
Accrued liabilities	Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) September 30, December 31, Deferred revenue (1) $ 43,081 $ 42,104 Employee cash bonuses, including sales incentives 35,341 21,090 Operating lease liabilities (Note 13) 12,884 11,589 Prepaid product discounts due within one year 11,805 14,365 Customer rebates 8,715 8,179 Other 91,958 79,856 Accrued liabilities $ 203,784 $ 177,183 (1) $33,088 of the December 31, 2020 amount was recognized as revenue during the nine months ended September 30, 2021.
Supplemental cash flow information	Supplemental cash flow information – The reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the consolidated balance sheets was as follows: (in thousands) September 30, September 30, Cash and cash equivalents $ 121,064 $ 310,430 Restricted cash and restricted cash equivalents included in funds held for customers 129,180 89,586 Non-current restricted cash included in other non-current assets 2,860 — Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 253,104 $ 400,016
Trade accounts receivable [Member]
Allowances for uncollectible accounts	Trade accounts receivable – Changes in the allowances for uncollectible accounts included within trade accounts receivable were as follows for the nine months ended September 30, 2021 and 2020: Nine Months Ended (in thousands) 2021 2020 Balance, beginning of year $ 6,428 $ 4,985 Bad debt (benefit) expense (412) 4,174 Write-offs and other (2,555) (2,671) Balance, end of period $ 3,461 $ 6,488
Loans and notes receivable [Member]
Allowances for uncollectible accounts	Changes in the allowances for uncollectible accounts related to loans and notes receivable from distributors were as follows for the nine months ended September 30, 2021 and 2020: Nine Months Ended (in thousands) 2021 2020 Balance, beginning of year $ 3,995 $ 284 Adoption of ASU No. 2016-13 — 4,749 Bad debt (benefit) expense (1,158) 5,647 Exchange for customer lists — (6,402) Balance, end of period $ 2,837 $ 4,278

Earnings (loss) per share (Tabl

Earnings (loss) per share (Tables)	9 Months Ended
	Sep. 30, 2021
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 Nine Months Ended (in thousands, except per share amounts) 2021 2020 2021 2020 Earnings (loss) per share – basic: Net income (loss) $ 12,501 $ 29,444 $ 48,955 $ (19,373) Net income attributable to non-controlling interest (37) (27) (99) (46) Net income (loss) attributable to Deluxe 12,464 29,417 48,856 (19,419) Income allocated to participating securities (9) (24) (36) (42) Income (loss) attributable to Deluxe available to common shareholders $ 12,455 $ 29,393 $ 48,820 $ (19,461) Weighted-average shares outstanding 42,574 41,872 42,294 41,927 Earnings (loss) per share – basic $ 0.29 $ 0.70 $ 1.15 $ (0.46) Earnings (loss) per share – diluted: Net income (loss) $ 12,501 $ 29,444 $ 48,955 $ (19,373) Net income attributable to non-controlling interest (37) (27) (99) (46) Net income (loss) attributable to Deluxe 12,464 29,417 48,856 (19,419) Income allocated to participating securities (9) — (27) (42) Re-measurement of share-based awards classified as liabilities (329) — (329) (794) Income (loss) attributable to Deluxe available to common shareholders $ 12,126 $ 29,417 $ 48,500 $ (20,255) Weighted-average shares outstanding 42,574 41,872 42,294 41,927 Dilutive impact of potential common shares 457 119 453 40 Weighted-average shares and potential common shares outstanding 43,031 41,991 42,747 41,967 Earnings (loss) per share – diluted $ 0.28 $ 0.70 $ 1.13 $ (0.48) Antidilutive options excluded from calculation 2,314 2,086 2,314 2,160

Other comprehensive income (l_2

Other comprehensive income (loss) (Tables)	9 Months Ended
	Sep. 30, 2021
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 Nine Months Ended (in thousands) 2021 2020 2021 2020 Realized loss on interest rate swap $ (371) $ (326) $ (1,035) $ (514) Interest expense Tax benefit 97 85 271 134 Income tax provision Realized loss on interest rate swap, net of tax (274) (241) (764) (380) Net income (loss) Amortization of postretirement benefit plan items: Prior service credit 355 355 1,066 1,066 Other income Net actuarial loss (407) (575) (1,221) (1,725) Other income Total amortization (52) (220) (155) (659) Other income Tax (expense) benefit (30) 12 (93) 35 Income tax provision Amortization of postretirement benefit plan items, net of tax (82) (208) (248) (624) Net income (loss) Total reclassifications, net of tax $ (356) $ (449) $ (1,012) $ (1,004)
Accumulated other comprehensive loss	Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the nine months ended September 30, 2021 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, 2020 $ (21,956) $ (90) $ (5,351) $ (14,036) $ (41,433) Other comprehensive (loss) income before reclassifications — (208) 1,077 (679) 190 Amounts reclassified from accumulated other comprehensive loss 248 — 764 — 1,012 Net current-period other comprehensive income (loss) 248 (208) 1,841 (679) 1,202 Balance, September 30, 2021 $ (21,708) $ (298) $ (3,510) $ (14,715) $ (40,231) (1) Other comprehensive loss before reclassifications is net of an income tax benefit of $72. (2) Other comprehensive income before reclassifications is net of income tax expense of $382.

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Preliminary allocation of the purchase price to the assets acquired and liabilities assumed	The following illustrates the preliminary allocation of the purchase price, as of September 30, 2021, to the assets acquired and liabilities assumed: (in thousands) Purchase price allocation Accounts receivable $ 27,296 Other current assets 8,533 Property, plant and equipment 9,873 Operating lease assets 24,396 Intangible assets: Customer relationships 118,000 Partner relationships 67,000 Technology-based intangibles 66,000 Trade names 22,000 Internal-use software 6,111 Total intangible assets 279,111 Goodwill 732,520 Other non-current assets 350 Accounts payable (18,475) Funds held for customers (9,428) Accrued liabilities (20,551) Operating lease liabilities, non-current (21,316) Deferred income taxes (51,216) Other non-current liabilities (4,376) Payment for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired of $15,841 $ 956,717
Unaudited pro forma financial information	The following unaudited pro forma financial information summarizes our consolidated results of operations as though the acquisition occurred on January 1, 2020: Pro Forma Statements of Comprehensive Income (Loss) Quarter Ended Nine Months Ended (in thousands) 2020 2021 2020 Revenue $ 628,356 $ 1,613,333 $ 1,664,644 Net income (loss) attributable to Deluxe 21,694 50,176 (58,565)

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair value measurements	Information regarding the asset impairment analyses completed during the nine months ended September 30, 2020 was as follows: Fair value measurements using Fair value as of measurement date Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs Impairment charge (in thousands) (Level 1) (Level 2) (Level 3) Intangible assets (Cloud Solutions Web Hosting reporting unit) (1) $ 2,172 $ — $ — $ 2,172 $ 17,678 Small business distributor 4,479 — — 4,479 5,108 Other assets 11,210 — — 11,210 7,514 Goodwill (2) 71,449 Total $ 101,749 (1) The impairment charge consisted of $8,397 related to customer lists, $6,932 related to internal-use software and $2,349 related to other intangible assets. (2) Amount presented here has been revised from what was previously reported to correct the error described in Note 1.
Fair value of financial instruments	Information regarding the fair values of our financial instruments was as follows: Fair value measurements using September 30, 2021 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) Balance sheet location Carrying value Fair value Measured at fair value through comprehensive income (loss): Available-for-sale debt securities Funds held for customers 13,302 13,302 — 13,302 — Derivative liability (Note 7) Other non-current liabilities (4,716) (4,716) — (4,716) — Amortized cost: Cash Cash and cash equivalents 121,064 121,064 121,064 — — Cash Funds held for customers 129,180 129,180 129,180 — — Loans and notes receivable from distributors Other current and non-current assets 21,729 21,683 — — 21,683 Long-term debt Current portion of long-term debt and long-term debt 1,776,167 1,821,713 — 1,821,713 — Fair value measurements using December 31, 2020 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) Balance sheet location Carrying value Fair value Measured at fair value through comprehensive income (loss): Cash equivalents Funds held for customers $ 15,000 $ 15,000 $ 15,000 $ — $ — Available-for-sale debt securities Funds held for customers 13,462 13,462 — 13,462 — Derivative liability (Note 7) Other non-current liabilities (7,210) (7,210) — (7,210) — Amortized cost: Cash Cash and cash equivalents 123,122 123,122 123,122 — — Cash Funds held for customers 91,287 91,287 91,287 — — Loans and notes receivable from distributors Other current and non-current assets 37,076 36,950 — — 36,950 Long-term debt Long-term debt 840,000 840,000 — 840,000 —

Restructuring and integration_2

Restructuring and integration expense (Tables)	9 Months Ended
	Sep. 30, 2021
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 Nine Months Ended (in thousands) 2021 2020 2021 2020 Total cost of revenue $ 1,559 $ (26) $ 3,073 $ 831 Operating expenses 12,335 18,949 38,012 56,957 Restructuring and integration expense $ 13,894 $ 18,923 $ 41,085 $ 57,788 Restructuring and integration expense for each period was comprised of the following: Quarter Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 External consulting fees $ 6,432 $ 14,898 $ 19,355 $ 37,136 Internal labor 1,756 2,218 6,276 5,200 Employee severance benefits 1,293 752 3,167 10,870 Other 4,413 1,055 12,287 4,582 Restructuring and integration expense $ 13,894 $ 18,923 $ 41,085 $ 57,788
Changes in restructuring and integration accruals	Changes in our restructuring and integration accruals were as follows: (in thousands) Employee severance benefits Balance, December 31, 2020 $ 6,798 Charges 4,690 Reversals (1,523) Payments (8,632) Balance, September 30, 2021 $ 1,333

Income tax provision (Tables)

Income tax provision (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation	The effective tax rate on pretax income (loss) reconciles to the U.S. federal statutory tax rate as follows: Nine Months Ended September 30, 2021 Year Ended December 31, 2020 (1) Income tax at federal statutory rate 21.0 % 21.0 % Goodwill impairment charges (Note 8) — 46.8 % State income tax expense, net of federal income tax benefit 3.1 % 2.1 % Non-deductible acquisition costs 2.8 % — Non-deductible executive compensation 1.7 % 2.2 % Foreign tax rate differences 1.2 % 4.3 % Tax impact of share-based compensation 0.8 % 8.5 % Change in unrecognized tax benefits, including interest and penalties 0.4 % (3.3 %) Research and development tax credit (0.8 %) (3.7 %) Payables and receivables for prior year tax returns (0.3 %) 3.2 % Non-taxable income from employee life insurance policies (0.3 %) (1.1 %) Return to provision adjustments (0.1 %) (2.6 %) Change in valuation allowances — 0.9 % Other 0.2 % 1.8 % Effective tax rate 29.7 % 80.1 %

Postretirement benefits (Tables

Postretirement benefits (Tables)	9 Months Ended
	Sep. 30, 2021
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 Nine Months Ended (in thousands) 2021 2020 2021 2020 Interest cost $ 242 $ 478 $ 726 $ 1,434 Expected return on plan assets (1,875) (1,905) (5,623) (5,714) Amortization of prior service credit (355) (355) (1,066) (1,066) Amortization of net actuarial losses 407 575 1,221 1,725 Net periodic benefit income $ (1,581) $ (1,207) $ (4,742) $ (3,621)

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt outstanding	Debt outstanding was comprised of the following: (in thousands) September 30, December 31, 2020 Senior, secured term loan facility $ 1,116,563 $ — Senior, unsecured notes 500,000 — Amounts drawn on senior, secured revolving credit facility 180,000 840,000 Total principal amount 1,796,563 840,000 Less: unamortized discount and debt issuance costs (20,396) — Total debt, net of discount and debt issuance costs 1,776,167 840,000 Less: current portion of long-term debt, net of debt issuance costs (57,167) — Long-term debt $ 1,719,000 $ 840,000
Maturities of long-term debt	Maturities of long-term debt were as follows as of September 30, 2021: (in thousands) Debt obligations Remainder of 2021 $ 14,438 2022 57,750 2023 72,188 2024 86,625 2025 101,062 Thereafter 1,464,500 Total principal amount $ 1,796,563
Leverage ratio requirements	The credit agreement also includes requirements regarding our consolidated total leverage ratio and our consolidated secured leverage ratio, as defined in the credit agreement. These ratios may not equal or exceed the following amounts during the periods indicated: Fiscal Quarter Ending Consolidated total leverage ratio Consolidated secured leverage ratio September 30, 2021 through March 31, 2022 5.00 to 1:00 4.00 to 1:00 June 30, 2022 through March 31, 2023 4.75 to 1:00 3.75 to 1:00 June 30, 2023 through March 31, 2024 4.50 to 1:00 3.50 to 1:00 June 30, 2024 and each fiscal quarter thereafter 4.25 to 1:00 3.50 to 1:00
Credit facility	Daily average amounts outstanding under our current and previous credit agreements were as follows: (in thousands) Nine Months Ended September 30, 2021 Year Ended Daily average amount outstanding $ 1,062,925 $ 1,016,896 Weighted-average interest rate 2.35 % 2.12 % As of September 30, 2021, amounts were available for borrowing under our revolving credit facility as follows: (in thousands) Total available Revolving credit facility commitment $ 500,000 Amounts drawn on revolving credit facility (180,000) Outstanding letters of credit (1) (7,475) Net available for borrowing as of September 30, 2021 $ 312,525 (1) We use standby letters of credit primarily to collateralize certain obligations related to our self-insured workers' compensation claims, as well as claims for environmental matters, as required by certain states.These letters of credit reduce the amount available for borrowing under our revolving credit facility.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Balance sheet information related to leases	Leases were reflected on the consolidated balance sheets as follows: (in thousands) September 30, December 31, Operating leases: Operating lease assets $ 58,442 $ 35,906 Accrued liabilities $ 12,884 $ 11,589 Operating lease liabilities 49,827 28,344 Total operating lease liabilities $ 62,711 $ 39,933 Weighted-average remaining lease term (in years) 5.5 4.7 Weighted-average discount rate 4.5 % 3.1 % Finance leases: Property, plant and equipment, gross $ 35,575 $ 6,970 Accumulated depreciation (7,136) (6,324) Property, plant and equipment, net $ 28,439 $ 646 Accrued liabilities $ 347 $ 459 Other non-current liabilities 27,202 140 Total finance lease liabilities $ 27,549 $ 599 Weighted-average remaining lease term (in years) 15.8 1.5 Weighted-average discount rate 6.0 % 2.0 %
Components of lease expense	The components of lease expense were as follows: Quarter Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Operating lease expense $ 4,497 $ 5,006 $ 12,897 $ 15,044 Finance lease expense: Amortization of right-of-use asset $ 547 $ 187 $ 816 $ 561 Interest on lease liabilities 432 5 437 17 Total finance lease expense $ 979 $ 192 $ 1,253 $ 578
Supplemental cash flow information related to leases	Supplemental cash flow information related to leases was as follows: Quarter Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Lease assets obtained in exchange for lease obligations: Operating leases (1) $ — $ — $ 33,948 $ 10,105 Finance leases (2) 26,889 — 26,889 — Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 3,653 $ 5,225 $ 12,649 $ 13,993 Operating cash flows from finance leases 2 5 7 17 Financing cash flows from finance leases 104 181 369 575 (1) Includes operating lease assets and related liabilities of $24,396 recorded in conjunction with the acquisition of First American in June 2021 (Note 6). (2) Consists of a lease on a facility located in Minnesota that commenced in July 2021.
Maturities of lease liabilities	Maturities of lease liabilities were as follows as of September 30, 2021: (in thousands) Operating lease obligations Finance lease obligations Remainder of 2021 $ 4,032 $ 79 2022 18,545 1,313 2023 13,827 2,709 2024 12,668 2,743 2025 10,691 2,777 Thereafter 23,854 34,691 Total lease payments 83,617 44,312 Less lease incentives receivable (10,250) — Less imputed interest (10,656) (16,763) Present value of lease payments $ 62,711 $ 27,549

Business segment information (T

Business segment information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business segment information	Segment information for the quarters and nine months ended September 30, 2021 and 2020 was as follows: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Payments: Revenue $ 160,268 $ 74,675 $ 343,045 $ 223,886 Adjusted EBITDA 31,598 16,746 71,125 50,352 Cloud Solutions: Revenue 69,497 63,758 199,784 193,600 Adjusted EBITDA 19,036 16,425 55,047 45,494 Promotional Solutions: Revenue 130,330 124,929 389,825 385,667 Adjusted EBITDA 17,673 21,478 56,804 46,529 Checks: Revenue 172,046 176,099 518,968 533,135 Adjusted EBITDA 77,254 84,954 240,979 258,392 Total segment: Revenue $ 532,141 $ 439,461 $ 1,451,622 $ 1,336,288 Adjusted EBITDA 145,561 139,603 423,955 400,767
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 September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Total segment adjusted EBITDA $ 145,561 $ 139,603 $ 423,955 $ 400,767 Corporate operations (42,832) (37,090) (133,259) (131,101) Depreciation and amortization expense (41,906) (27,972) (102,929) (83,065) Interest expense (21,494) (5,083) (35,548) (18,254) Pretax income attributable to non-controlling interest 37 21 99 46 Asset impairment charges — (2,760) — (101,749) Restructuring, integration and other costs (13,894) (18,941) (41,085) (59,064) CEO transition costs — — — (10) Share-based compensation expense (7,434) (6,240) (21,801) (15,335) Acquisition transaction costs (208) — (18,816) (9) Certain legal-related (expense) benefit (638) — (941) 2,165 Loss on sales of customer lists — — — (18) Income (loss) before income taxes $ 17,192 $ 41,538 $ 69,675 $ (5,627)
Revenue disaggregated by product and service offerings	e following tables present revenue disaggregated by our product and service offerings: Quarter Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 172,046 $ 172,046 Merchant services and other payments solutions 103,014 — — — 103,014 Forms and other products — — 68,646 — 68,646 Marketing and promotional solutions — — 61,684 — 61,684 Treasury management solutions 57,254 — — — 57,254 Data-driven marketing solutions — 41,956 — — 41,956 Web and hosted solutions — 27,541 — — 27,541 Total revenue $ 160,268 $ 69,497 $ 130,330 $ 172,046 $ 532,141 Quarter Ended September 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 176,099 $ 176,099 Merchant services and other payments solutions 19,257 — — — 19,257 Forms and other products — — 77,492 — 77,492 Marketing and promotional solutions — — 47,437 — 47,437 Treasury management solutions 55,418 — — — 55,418 Data-driven marketing solutions — 30,508 — — 30,508 Web and hosted solutions — 33,250 — — 33,250 Total revenue $ 74,675 $ 63,758 $ 124,929 $ 176,099 $ 439,461 Nine Months Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 518,968 $ 518,968 Merchant services and other payments solutions 170,431 — — — 170,431 Forms and other products — — 218,622 — 218,622 Marketing and promotional solutions — — 171,203 — 171,203 Treasury management solutions 172,614 — — — 172,614 Data-driven marketing solutions — 115,120 — — 115,120 Web and hosted solutions — 84,664 — — 84,664 Total revenue $ 343,045 $ 199,784 $ 389,825 $ 518,968 $ 1,451,622 Nine Months Ended September 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 533,135 $ 533,135 Merchant services and other payments solutions 56,808 — — — 56,808 Forms and other products — — 234,735 — 234,735 Marketing and promotional solutions — — 150,932 — 150,932 Treasury management solutions 167,078 — — — 167,078 Data-driven marketing solutions — 88,927 — — 88,927 Web and hosted solutions — 104,673 — — 104,673 Total revenue $ 223,886 $ 193,600 $ 385,667 $ 533,135 $ 1,336,288
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 September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 150,594 $ 60,778 $ 124,571 $ 166,339 $ 502,282 Foreign, primarily Canada and Australia 9,674 8,719 5,759 5,707 29,859 Total revenue $ 160,268 $ 69,497 $ 130,330 $ 172,046 $ 532,141 Quarter Ended September 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 66,377 $ 55,755 $ 118,454 $ 170,865 $ 411,451 Foreign, primarily Canada and Australia 8,298 8,003 6,475 5,234 28,010 Total revenue $ 74,675 $ 63,758 $ 124,929 $ 176,099 $ 439,461 Nine Months Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 312,874 $ 173,555 $ 373,042 $ 501,152 $ 1,360,623 Foreign, primarily Canada and Australia 30,171 26,229 16,783 17,816 90,999 Total revenue $ 343,045 $ 199,784 $ 389,825 $ 518,968 $ 1,451,622 Nine Months Ended September 30, 2020 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 198,965 $ 169,917 $ 369,023 $ 516,961 $ 1,254,866 Foreign, primarily Canada and Australia 24,921 23,683 16,644 16,174 81,422 Total revenue $ 223,886 $ 193,600 $ 385,667 $ 533,135 $ 1,336,288

Consolidated financial statem_3

Consolidated financial statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended					9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2021
Asset impairment charges	$ 0	$ (2,760)				$ 0	$ (101,749)
Operating income	36,404	44,420				98,780	4,145
Income (loss) before income taxes	17,192	41,538				69,675	(5,627)
Income tax provision	(4,691)	(12,094)				(20,720)	(13,746)
Net income (loss)	12,501	29,444				48,955	(19,373)
Net income (loss) attributable to Deluxe	12,464	29,417				48,856	(19,419)
Total comprehensive loss	10,099	32,319				50,157	(24,330)
Comprehensive loss attributable to Deluxe	$ 10,062	$ 32,292				$ 50,058	$ (24,376)
Basic earnings (loss) per share	$ 0.29	$ 0.70				$ 1.15	$ (0.46)	$ 0.12	$ (5.20)
Diluted earnings (loss) per share	$ 0.28	$ 0.70				$ 1.13	$ (0.48)	$ 0.11	$ (5.20)
ASSETS
Deferred income taxes	$ 2,290					$ 2,290		$ 6,642
Goodwill	1,435,483					1,435,483		702,958
Assets	3,006,193					3,006,193		1,842,175
LIABILITIES AND SHAREHOLDERS' EQUITY
Deferred income taxes	66,637					66,637		5,401
Retained earnings	505,100					505,100		495,153
Total shareholders' equity	557,866	$ 483,998	$ 457,892			557,866	$ 483,998	513,392	$ 546,979	$ 552,271
Total liabilities and shareholders' equity	3,006,193					3,006,193		$ 1,842,175
Cash flows from operating activities:
Net income	12,501	29,444				48,955	(19,373)
Asset impairment charges	$ 0	$ 2,760				0	101,749
Deferred income taxes						$ 13,733	(9,607)
As previously reported [Member]
Asset impairment charges							(97,973)
Operating income							7,921
Income (loss) before income taxes							(1,851)
Income tax provision							(13,958)
Net income (loss)							(15,809)
Net income (loss) attributable to Deluxe							(15,855)
Total comprehensive loss							(20,766)
Comprehensive loss attributable to Deluxe							$ (20,812)
Basic earnings (loss) per share							$ (0.38)	$ 0.21	$ (4.65)
Diluted earnings (loss) per share							$ (0.40)	$ 0.19	$ (4.65)
ASSETS
Deferred income taxes								$ 5,444
Goodwill								736,844
Assets								1,874,863
LIABILITIES AND SHAREHOLDERS' EQUITY
Deferred income taxes								10,643
Retained earnings								522,599
Total shareholders' equity								540,838
Total liabilities and shareholders' equity								1,874,863
Cash flows from operating activities:
Net income							$ (15,809)
Asset impairment charges							97,973
Deferred income taxes							(9,395)
Adjustment [Member]
Asset impairment charges				$ (3,776)	$ (30,110)		(3,776)
Operating income							(3,776)
Income (loss) before income taxes							(3,776)
Income tax provision				212	6,228		212
Net income (loss)			(3,564)	(3,564)	(23,882)		(3,564)		$ (23,882)
Net income (loss) attributable to Deluxe							(3,564)	(3,564)
Total comprehensive loss							(3,564)
Comprehensive loss attributable to Deluxe							$ (3,564)
Basic earnings (loss) per share							$ (0.08)
Diluted earnings (loss) per share							$ (0.08)
ASSETS
Deferred income taxes								1,198
Goodwill								(33,886)
Assets								(32,688)
LIABILITIES AND SHAREHOLDERS' EQUITY
Deferred income taxes								(5,242)
Retained earnings								(27,446)
Total shareholders' equity								(27,446)
Total liabilities and shareholders' equity								$ (32,688)
Cash flows from operating activities:
Net income			$ (3,564)	(3,564)	(23,882)		$ (3,564)		$ (23,882)
Asset impairment charges				$ 3,776	$ 30,110		3,776
Deferred income taxes							$ (212)

Supplemental balance sheet an_3

Supplemental balance sheet and cash flow information (trade accounts receivable, allowances for uncollectible accounts) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Accounts receivable, allowances for uncollectible accounts [Roll Forward]
Balance, beginning of year	$ 6,428	$ 4,985
Bad debt (benefit) expense	(412)	4,174
Write-offs and other	(2,555)	(2,671)
Balance, end of period	$ 3,461	$ 6,488

Supplemental balance sheet an_4

Supplemental balance sheet and cash flow information (inventories and supplies) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Inventories and supplies
Raw materials	$ 5,327		$ 5,412
Semi-finished goods	7,156		7,943
Finished goods	22,788		33,513
Supplies	5,580		5,010
Reserve for excess and obsolete items	(5,496)	$ (6,682)	(11,748)
Inventories and supplies	35,355		$ 40,130
Change in reserve for excess and obsolete items
Balance, beginning of year	11,748	6,600
Amounts charged to expense	2,884	1,270
Write-offs and sales	(9,136)	(1,188)
Balance, end of period	$ 5,496	$ 6,682

Supplemental balance sheet an_5

Supplemental balance sheet and cash flow information (available-for-sale debt securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2021		Dec. 31, 2020
Available-for-sale debt securities [Line Items]
Cost	$ 13,617		$ 28,495
Gross unrealized gains	0		0
Gross unrealized losses	(315)		(33)
Fair value	13,302		28,462
Expected maturities of available-for-sale debt securities
Due in one year or less	7,041
Due in two to five years	3,453
Due in six to ten years	2,808
Fair value	13,302		28,462
Funds held for customers [Member]
Available-for-sale debt securities [Line Items]
Cost	13,617	[1]	28,495	[2]
Gross unrealized gains	0	[1]	0	[2]
Gross unrealized losses	(315)	[1]	(33)	[2]
Fair value	13,302	[1]	28,462	[2]
Cash	129,180		91,287
Expected maturities of available-for-sale debt securities
Fair value	13,302	[1]	28,462	[2]
Funds held for customers [Member] | Money market securities [Member] | Domestic [Member]
Available-for-sale debt securities [Line Items]
Cost			15,000
Gross unrealized gains			0
Gross unrealized losses			0
Fair value			15,000
Expected maturities of available-for-sale debt securities
Fair value			15,000
Funds held for customers [Member] | Canadian and provincial government securities [Member]
Available-for-sale debt securities [Line Items]
Cost	9,674		9,566
Gross unrealized gains	0		0
Gross unrealized losses	(315)		(33)
Fair value	9,359		9,533
Expected maturities of available-for-sale debt securities
Fair value	9,359		9,533
Funds held for customers [Member] | Canadian guaranteed investment certificates [Member]
Available-for-sale debt securities [Line Items]
Cost	3,943		3,929
Gross unrealized gains	0		0
Gross unrealized losses	0		0
Fair value	3,943		3,929
Expected maturities of available-for-sale debt securities
Fair value	$ 3,943		$ 3,929
[1]	Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2021, also included cash of $129,180.
[2]	Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2020, also included cash of $91,287.

Supplemental balance sheet an_6

Supplemental balance sheet and cash flow information (revenue in excess of billings) (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Revenue in excess of billings
Conditional right to receive consideration		$ 28,157	$ 13,950
Unconditional right to receive consideration	[1]	13,032	3,667
Revenue in excess of billings		41,189	17,617
Unbilled receivables		$ 29,993	$ 21,319
[1]	Represents revenues that are earned but not currently billable under the related contract terms. Trade accounts receivable on the consolidated balance sheets included unbilled receivables of $29,993 as of September 30, 2021 and $21,319 as of December 31, 2020.

Supplemental balance sheet an_7

Supplemental balance sheet and cash flow information (intangibles) (Details) - USD ($) $ in Thousands		Jun. 01, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Amortizable intangibles [Line Items]
Gross carrying amount			$ 1,191,353		$ 1,191,353		$ 834,033
Accumulated amortization			(675,417)		(675,417)		(587,273)
Net carrying amount			515,936		515,936		246,760
Acquired intangibles					$ 357,349
Acquired intangibles, weighted-average amortization period (in years)					9 years
Amortization of intangibles			36,570	$ 22,515	$ 88,393	$ 67,555
Estimated future amortization expense
Remainder of 2021			41,235		41,235
2022			130,462		130,462
2023			101,863		101,863
2024			62,576		62,576
2025			46,791		46,791
First American Payment Systems, L.P. [Member]
Amortizable intangibles [Line Items]
Acquired intangibles		$ 279,111
Customer lists/relationships [Member]
Amortizable intangibles [Line Items]
Gross carrying amount			495,416		495,416		352,895
Accumulated amortization			(243,817)		(243,817)		(202,428)
Net carrying amount			251,599		251,599		150,467
Acquired intangibles	[1]				$ 142,514
Acquired intangibles, weighted-average amortization period (in years)	[1]				8 years
Customer lists/relationships [Member] | First American Payment Systems, L.P. [Member]
Amortizable intangibles [Line Items]
Acquired intangibles		$ 118,000
Acquired intangibles, weighted-average amortization period (in years)		8 years
Internal-use software [Member]
Amortizable intangibles [Line Items]
Gross carrying amount			439,785		$ 439,785		380,144
Accumulated amortization			(337,242)		(337,242)		(303,422)
Net carrying amount			102,543		102,543		76,722
Acquired intangibles					$ 59,429
Acquired intangibles, weighted-average amortization period (in years)					3 years
Internal-use software [Member] | First American Payment Systems, L.P. [Member]
Amortizable intangibles [Line Items]
Acquired intangibles		$ 6,111
Technology-based intangibles [Member]
Amortizable intangibles [Line Items]
Gross carrying amount			99,813		$ 99,813		33,813
Accumulated amortization			(35,013)		(35,013)		(27,613)
Net carrying amount			64,800		64,800		6,200
Acquired intangibles					$ 66,000
Acquired intangibles, weighted-average amortization period (in years)					8 years
Technology-based intangibles [Member] | First American Payment Systems, L.P. [Member]
Amortizable intangibles [Line Items]
Acquired intangibles		66,000
Partner relationships [Member]
Amortizable intangibles [Line Items]
Gross carrying amount			67,406		$ 67,406		0
Accumulated amortization			(1,525)		(1,525)		0
Net carrying amount			65,881		65,881		0
Acquired intangibles					$ 67,406
Acquired intangibles, weighted-average amortization period (in years)					15 years
Partner relationships [Member] | First American Payment Systems, L.P. [Member]
Amortizable intangibles [Line Items]
Acquired intangibles		67,000
Trade names [Member]
Amortizable intangibles [Line Items]
Gross carrying amount			52,033		$ 52,033		30,281
Accumulated amortization			(30,766)		(30,766)		(29,926)
Net carrying amount			21,267		21,267		355
Acquired intangibles					$ 22,000
Acquired intangibles, weighted-average amortization period (in years)					10 years
Trade names [Member] | First American Payment Systems, L.P. [Member]
Amortizable intangibles [Line Items]
Acquired intangibles		$ 22,000
Software to be sold [Member]
Amortizable intangibles [Line Items]
Gross carrying amount			36,900		$ 36,900		36,900
Accumulated amortization			(27,054)		(27,054)		(23,884)
Net carrying amount			$ 9,846		$ 9,846		$ 13,016
[1]	Included $118,000 acquired via the First American acquisition (Note 6) with a weighted-average useful life of 8 years.

Supplemental balance sheet an_8

Supplemental balance sheet and cash flow information (goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	$ 1,288,825
Accumulated impairment charges, beginning of year	(585,867)
Goodwill, net of accumulated impairment charges, beginning of year	702,958
Goodwill resulting from acquisition (Note 6)	732,520
Currency translation adjustment	5
Goodwill, gross, end of period	2,021,350
Accumulated impairment charges, end of period	(585,867)
Goodwill, net of accumulated impairment charges, end of period	1,435,483
Reportable business segments [Member] | Payments [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	168,165
Accumulated impairment charges, beginning of year	0
Goodwill, net of accumulated impairment charges, beginning of year	168,165
Goodwill resulting from acquisition (Note 6)	732,520
Goodwill, gross, end of period	900,685
Accumulated impairment charges, end of period	0
Goodwill, net of accumulated impairment charges, end of period	900,685
Reportable business segments [Member] | Cloud Solutions [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	432,984
Accumulated impairment charges, beginning of year	(392,168)
Goodwill, net of accumulated impairment charges, beginning of year	40,816
Goodwill, gross, end of period	432,984
Accumulated impairment charges, end of period	(392,168)
Goodwill, net of accumulated impairment charges, end of period	40,816
Reportable business segments [Member] | Promotional Solutions [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	252,864
Accumulated impairment charges, beginning of year	(193,699)
Goodwill, net of accumulated impairment charges, beginning of year	59,165
Currency translation adjustment	5
Goodwill, gross, end of period	252,869
Accumulated impairment charges, end of period	(193,699)
Goodwill, net of accumulated impairment charges, end of period	59,170
Reportable business segments [Member] | Checks [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year	434,812
Accumulated impairment charges, beginning of year	0
Goodwill, net of accumulated impairment charges, beginning of year	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_9

Supplemental balance sheet and cash flow information (other non-current assets) (Details) - USD ($) $ in Thousands		Dec. 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Other non-current assets
Postretirement benefit plan asset			$ 76,435		$ 71,208
Cloud computing arragements			52,900		29,242
Prepaid product discounts		$ 51,145	51,270	$ 41,249	50,602
Loans and notes receivable from distributors, net of allowances for uncollectible accounts	[1]		20,424		35,068
Deferred contract acquisition costs	[2]		17,480		9,199
Other			31,463		13,360
Other non-current assets			249,972		208,679
Loans and notes receivable, current			1,305		$ 2,008
Amortization of deferred contract acquisition costs			3,366	2,756
Loans and notes receivable from distributors, allowances for uncollectible accounts [Line Items]
Accounting Standards Update [Extensible List]		Accounting Standards Update 2016-13 [Member]
Loans and notes receivable from distributors [Member]
Loans and notes receivable from distributors, allowances for uncollectible accounts [Line Items]
Balance, beginning of year			3,995	284
Bad debt (benefit) expense			(1,158)	5,647
Exchange for customer lists				(6,402)
Balance, end of period		$ 284	2,837	4,278
Write-offs			0
Recoveries			0
Loans and notes receivable from distributors, credit quality information
2020			1,256
2019			3,096
2018			7,187
2017			11,705
Prior			1,322
Total			24,566
Loans and notes receivable from distributors [Member] | 1-2 internal grade member [Member]
Loans and notes receivable from distributors, credit quality information
2020			1,256
2019			497
2018			7,187
2017			11,705
Prior			1,322
Total			21,967
Loans and notes receivable from distributors [Member] | 3-4 internal grade [Member]
Loans and notes receivable from distributors, credit quality information
2020			0
2019			2,599
2018			0
2017			0
Prior			0
Total			$ 2,599
Loans and notes receivable from distributors [Member] | Adoption of Accounting Standards Update [Member]
Loans and notes receivable from distributors, allowances for uncollectible accounts [Line Items]
Balance, beginning of year				$ 4,749
Balance, end of period		$ 4,749
[1]	Amount Includes the non-current portion of loans and notes receivable. The current portion of these receivables is included in other current assets on the consolidated balance sheets and was $1,305 as of September 30, 2021 and $2,008 as of December 31, 2020.
[2]	Amortization of deferred contract acquisition costs was $3,366 for the nine months ended September 30, 2021 and $2,756 for the nine months ended September 30, 2020.

Supplemental balance sheet a_10

Supplemental balance sheet and cash flow information (other) (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Prepaid product discounts [Roll Forward]
Balance, beginning of year		$ 50,602	$ 51,145
Additions	[1]	24,284	13,259
Amortization		(23,425)	(21,725)
Other		(191)	(1,430)
Balance, end of period		51,270	41,249
Prepaid product discount payments		27,049	24,947
Accrued liabilities
Deferred revenue	[2]	43,081		$ 42,104
Employee cash bonuses, including sales incentives		35,341		21,090
Operating lease liabilities (Note 13)		12,884		11,589
Prepaid product discounts due within one year		11,805		14,365
Customer rebates		8,715		8,179
Other		91,958		79,856
Accrued liabilities		203,784		177,183
Deferred revenue recognized		33,088
Supplemental cash flow information
Cash and cash equivalents		121,064	310,430	123,122
Total cash, cash equivalents, restricted cash and restricted cash equivalents		253,104	400,016	229,409	$ 174,811
Funds held for customers [Member]
Supplemental cash flow information
Restricted cash and restricted cash equivalents included in funds held for customers		129,180	$ 89,586
Other non-current assets [Member]
Supplemental cash flow information
Non-current restricted cash included in other non-current assets		$ 2,860		$ 0
[1]	Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $27,049 for the nine months ended September 30, 2021 and $24,947 for the nine months ended September 30, 2020.
[2]	$33,088 of the December 31, 2020 amount was recognized as revenue during the nine months ended September 30, 2021.

Earnings (loss) per share (Deta

Earnings (loss) per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Earnings (loss) per share - basic:
Net income (loss)	$ 12,501	$ 29,444	$ 48,955	$ (19,373)
Net income attributable to non-controlling interest	(37)	(27)	(99)	(46)
Net income (loss) attributable to Deluxe	12,464	29,417	48,856	(19,419)
Income allocated to participating securities	(9)	(24)	(36)	(42)
Income (loss) attributable to Deluxe available to common shareholders	$ 12,455	$ 29,393	$ 48,820	$ (19,461)
Weighted-average shares outstanding	42,574	41,872	42,294	41,927
Earnings (loss) per share - basic	$ 0.29	$ 0.70	$ 1.15	$ (0.46)	$ 0.12	$ (5.20)
Earnings (loss) per share - diluted:
Net income (loss)	$ 12,501	$ 29,444	$ 48,955	$ (19,373)
Net income attributable to non-controlling interest	(37)	(27)	(99)	(46)
Net income (loss) attributable to Deluxe	12,464	29,417	48,856	(19,419)
Income allocated to participating securities	(9)	0	(27)	(42)
Re-measurement of share-based awards classified as liabilities	(329)	0	(329)	(794)
Income (loss) attributable to Deluxe available to common shareholders	$ 12,126	$ 29,417	$ 48,500	$ (20,255)
Weighted-average shares outstanding	42,574	41,872	42,294	41,927
Dilutive impact of potential common shares	457	119	453	40
Weighted-average shares and potential common shares outstanding	43,031	41,991	42,747	41,967
Earnings (loss) per share - diluted	$ 0.28	$ 0.70	$ 1.13	$ (0.48)	$ 0.11	$ (5.20)
Antidilutive options excluded from calculation	2,314	2,086	2,314	2,160

Other comprehensive income (l_3

Other comprehensive income (loss) (reclassification adjustments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reclassification adjustments [Line Items]
Total reclassifications, net of tax	$ (356)	$ (449)	$ (1,012)	$ (1,004)
Prior service credit [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	355	355	1,066	1,066
Net actuarial loss [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	(407)	(575)	(1,221)	(1,725)
Postretirement benefit plans [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	(52)	(220)	(155)	(659)
Tax (expense) benefit	(30)	12	(93)	35
Total reclassifications, net of tax	(82)	(208)	(248)	(624)
Realized loss on interest rate swap [Member]
Reclassification adjustments [Line Items]
Amounts reclassified from accumulated other comprehensive loss	(371)	(326)	(1,035)	(514)
Tax (expense) benefit	97	85	271	134
Total reclassifications, net of tax	$ (274)	$ (241)	$ (764)	$ (380)

Other comprehensive income (l_4

Other comprehensive income (loss) (accumulated other comprehensive loss) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated other comprehensive loss [Line Items]
Amounts reclassified from accumulated other comprehensive loss		$ 356	$ 449	$ 1,012	$ 1,004
Postretirement benefit plans [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2020				(21,956)
Other comprehensive (loss) income before reclassifications				0
Amounts reclassified from accumulated other comprehensive loss		82	208	248	624
Net current-period other comprehensive income (loss)				248
Balance, September 30, 2021		(21,708)		(21,708)
Net unrealized loss on available-for-sale debt securities [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2020				(90)
Other comprehensive (loss) income before reclassifications	[1]			(208)
Amounts reclassified from accumulated other comprehensive loss				0
Net current-period other comprehensive income (loss)				(208)
Balance, September 30, 2021		(298)		(298)
Unrealized loss on securities arising during the period, tax				(72)
Net unrealized loss on cash flow hedge [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2020				(5,351)
Other comprehensive (loss) income before reclassifications	[2]			1,077
Amounts reclassified from accumulated other comprehensive loss		274	$ 241	764	$ 380
Net current-period other comprehensive income (loss)				1,841
Balance, September 30, 2021		(3,510)		(3,510)
Unrealized gain on cash flow hedge arising during the period, tax expense				382
Currency translation adjustment [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2020				(14,036)
Other comprehensive (loss) income before reclassifications				(679)
Amounts reclassified from accumulated other comprehensive loss				0
Net current-period other comprehensive income (loss)				(679)
Balance, September 30, 2021		(14,715)		(14,715)
Accumulated other comprehensive loss [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2020				(41,433)
Other comprehensive (loss) income before reclassifications				190
Amounts reclassified from accumulated other comprehensive loss				1,012
Net current-period other comprehensive income (loss)				1,202
Balance, September 30, 2021		$ (40,231)		$ (40,231)
[1]	Other comprehensive loss before reclassifications is net of an income tax benefit of $72.
[2]	Other comprehensive income before reclassifications is net of income tax expense of $382.

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Thousands	Jun. 01, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Acquisition [Line Items]
Goodwill				$ 732,520
Payment for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired				956,717	$ 0
Total revenue		$ 532,141	$ 439,461	1,451,622	1,336,288
Net income attributable to Deluxe		12,464	29,417	48,856	(19,419)
Acquisition transaction costs		208	0	18,816	9
Pro forma revenue			628,356	1,613,333	1,664,644
Pro forma net income (loss) attributable to Deluxe			$ 21,694	50,176	$ (58,565)
First American Payment Systems, L.P. [Member]
Acquisition [Line Items]
Measurement-period adjustment, goodwill		(3,788)
Accounts receivable	$ 27,296
Other current assets	8,533
Property, plant and equipment	9,873
Operating lease assets	24,396
Intangible assets:	279,111
Goodwill	732,520			732,520
Other non-current assets	350
Accounts payable	(18,475)
Funds held for customers	(9,428)
Accrued liabilities	(20,551)
Operating lease liabilities, non-current	(21,316)
Deferred income taxes	(51,216)
Other non-current liabilities	(4,376)
Payment for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired				956,717
Cash, cash equivalents, restricted cash, restricted cash equivalents	15,841
Total revenue		82,485		109,828
Net income attributable to Deluxe		890		$ 824
First American Payment Systems, L.P. [Member] | Customer lists/relationships [Member]
Acquisition [Line Items]
Intangible assets:	118,000
First American Payment Systems, L.P. [Member] | Partner relationships [Member]
Acquisition [Line Items]
Intangible assets:	67,000
First American Payment Systems, L.P. [Member] | Technology-based intangibles [Member]
Acquisition [Line Items]
Intangible assets:	66,000
First American Payment Systems, L.P. [Member] | Trade names [Member]
Acquisition [Line Items]
Intangible assets:	22,000
First American Payment Systems, L.P. [Member] | Internal-use software [Member]
Acquisition [Line Items]
Measurement-period adjustment, internal-use software		$ 3,694
Intangible assets:	$ 6,111

Derivative financial instrume_2

Derivative financial instruments (Details) - Interest rate swap [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Jul. 19, 2019
Derivative [Line Items]
Interest rate swap amount			$ 200,000
Derivative fixed interest rate			1.798%
Fair value of derivative liability	$ 4,716	$ 7,210

Fair value measurements (goodwi

Fair value measurements (goodwill and non-recurring asset impairment analyses) (Details) $ in Thousands	3 Months Ended					9 Months Ended
	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)reporting_units	Mar. 31, 2021reporting_units	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)reporting_units	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)
Goodwill impairment and non-recurring fair value measurements [Line Items]
Goodwill impairment charges		$ 0			$ 71,449
Goodwill	$ 1,435,483					$ 1,435,483		$ 702,958
Total impairment charge	0			$ 2,760		0	$ 101,749
Reportable business segments [Member] | Payments [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Number of reporting units | reporting_units		4	1
Goodwill	900,685					900,685		168,165
Reportable business segments [Member] | Promotional Solutions [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Number of reporting units | reporting_units		2	1
Goodwill	$ 59,170					$ 59,170		$ 59,165
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
Promotional Solutions reporting unit [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Goodwill impairment charges					$ 67,132
Goodwill					59,009
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] | Assets held for sale [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Asset impairment charges							7,514
Other assets									$ 11,210
Non-recurring fair value measurement [Member] | Small business distributors [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Estimated fair value, intangibles				$ 4,479			$ 4,479
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%			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				1.00%			1.00%
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%			11.00%
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				$ 2,356	$ 2,752		$ 5,108
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
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
Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Assets held for sale [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Other assets									$ 11,210
Non-recurring fair value measurement [Member] | Significant unobservable inputs (Level 3) [Member] | Small business distributors [Member]
Goodwill impairment and non-recurring fair value measurements [Line Items]
Estimated fair value, intangibles				$ 4,479			$ 4,479
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

Fair value measurements (financ

Fair value measurements (financial instruments) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021		Dec. 31, 2020
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	$ 13,302		$ 28,462
Derivative liability (Note 7)	(4,716)		(7,210)
Loans and notes receivable from distributors	21,729		37,076
Loans and notes receivable from distributors, fair value	21,683		36,950
Long-term debt	1,776,167		840,000
Long-term debt, fair value	1,821,713		840,000
Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Derivative liability (Note 7)	(4,716)		(7,210)
Significant other observable inputs (Level 2) [Member]
Fair value measurements, financial instruments [Line Items]
Long-term debt, fair value	1,821,713		840,000
Significant other observable inputs (Level 2) [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Derivative liability (Note 7)	(4,716)		(7,210)
Significant unobservable inputs (Level 3) [Member]
Fair value measurements, financial instruments [Line Items]
Loans and notes receivable from distributors, fair value	21,683		36,950
Cash and cash equivalents [Member]
Fair value measurements, financial instruments [Line Items]
Cash	121,064		123,122
Cash, fair value	121,064		123,122
Cash and cash equivalents [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements, financial instruments [Line Items]
Cash, fair value	121,064		123,122
Funds held for customers [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	13,302	[1]	28,462	[2]
Cash	129,180		91,287
Cash, fair value	$ 129,180		91,287
Funds held for customers [Member] | Canadian guaranteed investment certificates [Member]
Fair value measurements, financial instruments [Line Items]
Maturity period, debt securities	2 years
Available-for-sale debt securities (funds held for customers)	$ 3,943		3,929
Funds held for customers [Member] | Money market securities [Member]
Fair value measurements, financial instruments [Line Items]
Cash equivalents			15,000
Funds held for customers [Member] | Money market securities [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Cash equivalents			15,000
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)	13,302		13,462
Funds held for customers [Member] | Foreign debt securities [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	13,302		13,462
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	129,180		91,287
Funds held for customers [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Money market securities [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Cash equivalents			15,000
Funds held for customers [Member] | Significant other observable inputs (Level 2) [Member] | Foreign debt securities [Member] | Recurring fair value measurements [Member]
Fair value measurements, financial instruments [Line Items]
Available-for-sale debt securities (funds held for customers)	$ 13,302		$ 13,462
[1]	Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2021, also included cash of $129,180.
[2]	Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2020, also included cash of $91,287.

Restructuring and integration_3

Restructuring and integration expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring and integration expense [Line Items]
Restructuring and integration expense	$ 13,894	$ 18,923	$ 41,085	$ 57,788
Total cost of revenue [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	1,559	(26)	3,073	831
Operating expenses [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	12,335	18,949	38,012	56,957
External consulting fees [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	6,432	14,898	19,355	37,136
Internal labor [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	1,756	2,218	6,276	5,200
Employee severance benefits [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense			4,690
Restructuring charges, net	1,293	752	3,167	10,870
Other [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	$ 4,413	$ 1,055	$ 12,287	$ 4,582

Restructuring and integration_4

Restructuring and integration expense (accruals) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Charges	$ 13,894	$ 18,923	$ 41,085	$ 57,788
Employee severance benefits [Member]
Restructuring Cost and Reserve [Line Items]
Balance, December 31, 2020			6,798
Charges			4,690
Reversals			(1,523)
Payments			(8,632)
Balance, September 30, 2021	$ 1,333		$ 1,333

Income tax provision (Details)

Income tax provision (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Reconciliation of effective tax rate
Income tax at federal statutory rate	21.00%	21.00%
Goodwill impairment charges (Note 8)	0.00%	46.80%
State income tax, net of federal income tax benefit	3.10%	2.10%
Non-deductible acquisition costs	2.80%	0.00%
Non-deductible executive compensation	1.70%	2.20%
Foreign tax rate differences	1.20%	4.30%
Tax impact of share-based compensation	0.80%	8.50%
Change in unrecognized tax benefits, including interest and penalties	0.40%	(3.30%)
Research and development tax credit	(0.80%)	(3.70%)
Payables and receivables for prior year tax returns	(0.30%)	3.20%
Non-taxable income from employee life insurance policies	(0.30%)	(1.10%)
Return to provision adjustments	(0.10%)	(2.60%)
Change in valuation allowances	0.00%	0.90%
Other	0.20%	1.80%
Effective tax rate	29.70%	80.10%

Postretirement benefits (Detail

Postretirement benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net periodic benefit income
Interest cost	$ 242	$ 478	$ 726	$ 1,434
Expected return on plan assets	(1,875)	(1,905)	(5,623)	(5,714)
Amortization of prior service credit	(355)	(355)	(1,066)	(1,066)
Amortization of net actuarial losses	407	575	1,221	1,725
Net periodic benefit income	$ (1,581)	$ (1,207)	$ (4,742)	$ (3,621)

Debt (Details)

Debt (Details) $ in Thousands	Jun. 01, 2021USD ($)	Mar. 31, 2026USD ($)	Dec. 31, 2025USD ($)	Sep. 30, 2025USD ($)	Jun. 30, 2025USD ($)	Mar. 31, 2025USD ($)	Dec. 31, 2024USD ($)	Sep. 30, 2024USD ($)	Jun. 30, 2024USD ($)	Mar. 31, 2024USD ($)	Dec. 31, 2023USD ($)	Sep. 30, 2023USD ($)	Jun. 30, 2023USD ($)	Mar. 31, 2023USD ($)	Dec. 31, 2022USD ($)	Sep. 30, 2022USD ($)	Jun. 30, 2022USD ($)	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Mar. 31, 2022	Sep. 30, 2021USD ($)	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2020USD ($)	Mar. 31, 2026	Mar. 31, 2026	Jun. 01, 2026USD ($)	Jul. 19, 2019USD ($)
Debt instruments [Line Items]
Total principal amount																				$ 1,796,563		$ 1,796,563			$ 840,000
Amounts drawn on senior, secured revolving credit facility																				180,000		180,000			840,000
Less: unamortized discount and debt issuance costs																				(20,396)		(20,396)			0
Total debt, net of discount and debt issuance costs																				1,776,167		1,776,167			840,000
Less: current portion of long-term debt, net of debt issuance costs																				(57,167)		(57,167)			0
Long-term debt																				1,719,000		1,719,000			$ 840,000
Maturities of long-term debt
Remainder of 2021																				14,438		14,438
2022																				57,750		57,750
2023																				72,188		72,188
2024																				86,625		86,625
2025																				101,062		101,062
Thereafter																				1,464,500		1,464,500
Credit facility
Revolving credit facility, current commitment	$ 500,000																			$ 500,000		$ 500,000
Weighted-average interest rate at period end																				2.63%		2.63%			2.01%
Daily average amount outstanding																						$ 1,062,925			$ 1,016,896
Weighted-average interest rate																						2.35%			2.12%
Outstanding letters of credit																				$ (7,475)		$ (7,475)
Net available for borrowing as of September 30, 2021																				312,525		312,525
Forecast [Member]
Credit facility
Maximum consolidated total leverage ratio																					5		4.50	4.75		4.25
Maximum consolidated secured leverage ratio																					4		3.50	3.75		3.50
Minimum interest coverage ratio																					2.75						3
Consolidated total leverage ratio limiting permitted payments																												2.75
Permitted payments																												$ 60,000
Senior, secured term loan facility [Member]
Debt instruments [Line Items]
Total principal amount	1,155,000																			1,116,563		1,116,563			$ 0
Credit facility
Repayment amount																				14,438
Senior, secured term loan facility [Member] | Forecast [Member]
Credit facility
Repayment amount		$ 28,875	$ 28,875	$ 28,875	$ 21,656	$ 21,656	$ 21,656	$ 21,656	$ 21,656	$ 21,656	$ 21,656	$ 21,656	$ 14,438	$ 14,438	$ 14,438	$ 14,438	$ 14,438	$ 14,438	$ 14,438
Senior, unsecured notes [Member]
Debt instruments [Line Items]
Total principal amount	$ 500,000																			$ 500,000		$ 500,000			$ 0
Senior, unsecured notes
Stated interest rate	8.00%
Proceeds from debt offering, net of discount and debt issuance costs	$ 490,741
Effective interest rate	8.30%
Senior, secured revolving credit facility [Member]
Credit facility
Credit facility term	5 years
Swingline sub-facility [Member]
Credit facility
Revolving credit facility, current commitment	$ 40,000
Letter of credit sub-facility [Member]
Credit facility
Revolving credit facility, current commitment	$ 25,000
Interest rate swap [Member]
Credit facility
Interest rate swap amount																													$ 200,000
Minimum [Member]
Credit facility
Interest rate margin on variable-rate debt																						1.50%
Revolving credit facility, commitment fee																						0.25%
Maximum [Member]
Credit facility
Interest rate margin on variable-rate debt																						2.50%
Revolving credit facility, commitment fee																						0.35%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2021		Sep. 30, 2020	Sep. 30, 2021		Sep. 30, 2020	Jun. 01, 2021	Dec. 31, 2020
Leases [Line Items]
Operating lease assets	$ 58,442			$ 58,442				$ 35,906
Operating leases, accrued liabilities	12,884			12,884				11,589
Operating lease liabilities	49,827			49,827				28,344
Total operating lease liabilities	$ 62,711			$ 62,711				$ 39,933
Operating leases, weighted-average remaining lease term (in years)	5 years 6 months			5 years 6 months				4 years 8 months 12 days
Operating leases, weighted-average discount rate	4.50%			4.50%				3.10%
Finance leases, property, plant and equipment, gross	$ 35,575			$ 35,575				$ 6,970
Finance leases, accumulated depreciation	(7,136)			(7,136)				(6,324)
Finance leases, property, plant and equipment, net	28,439			28,439				646
Finance leases, accrued liabilities	347			347				459
Finance leases, other non-current liabilities	27,202			27,202				140
Total finance lease liabilities	$ 27,549			$ 27,549				$ 599
Finance leases, weighted-average remaining lease term (in years)	15 years 9 months 18 days			15 years 9 months 18 days				1 year 6 months
Finance leases, weighted-average discount rate	6.00%			6.00%				2.00%
Lease expense
Operating lease expense	$ 4,497		$ 5,006	$ 12,897		$ 15,044
Amortization of right-of-use asset	547		187	816		561
Interest on lease liabilities	432		5	437		17
Total finance lease cost	979		192	1,253		578
Lease assets obtained in exchange for lease obligations, operating leases	0		0	33,948	[1]	10,105
Lease assets obtained in exchange for lease obligations, finance leases	26,889	[2]	0	26,889	[2]	0
Operating cash flows from operating leases	3,653		5,225	12,649		13,993
Operating cash flows from finance leases	2		5	7		17
Financing cash flows from finance leases	104		$ 181	369		$ 575
Maturities of operating lease liabilities
Remainder of 2021	4,032			4,032
2022	18,545			18,545
2023	13,827			13,827
2024	12,668			12,668
2025	10,691			10,691
Thereafter	23,854			23,854
Total lease payments	83,617			83,617
Lease incentives receivable	(10,250)			(10,250)
Less imputed interest	(10,656)			(10,656)
Total operating lease liabilities	62,711			62,711				$ 39,933
Maturities of finance lease liabiliites
Remainder of 2021	79			79
2022	1,313			1,313
2023	2,709			2,709
2024	2,743			2,743
2025	2,777			2,777
Thereafter	34,691			34,691
Total lease payments	44,312			44,312
Less imputed interest	(16,763)			(16,763)
Total finance lease liabilities	$ 27,549			$ 27,549				$ 599
First American Payment Systems, L.P. [Member]
Lease expense
Operating lease assets acquired							$ 24,396
Operating lease liabilities assumed							$ 24,396
[1]	Includes operating lease assets and related liabilities of $24,396 recorded in conjunction with the acquisition of First American in June 2021 (Note 6).
[2]	Consists of a lease on a facility located in Minnesota that commenced in July 2021.

Other commitments and conting_2

Other commitments and contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Self-insurance liabilities	$ 8,738	$ 9,046

Shareholders' equity (Details)

Shareholders' equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Oct. 24, 2018
Share repurchase program, authorized amount				$ 500,000
Common shares repurchased (in shares)		0	499
Amount remaining under share repurchase authorization	$ 287,452	$ 287,452
First American Payment Systems, L.P. [Member]
Stock issued, shares	294
Stock issued, value	$ 13,000

Business segment information (D

Business segment information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)segment
Business segment information [Line Items]
Number of reportable business segments | segment			4	4
Revenue	$ 532,141	$ 439,461	$ 1,451,622	$ 1,336,288
Depreciation and amortization	(41,906)	(27,972)	(102,929)	(83,065)
Interest expense	(21,494)	(5,083)	(35,548)	(18,254)
Net income attributable to non-controlling interest	37	21	99	46
Asset impairment charges	0	(2,760)	0	(101,749)
Restructuring integration and other costs	(13,894)	(18,941)	(41,085)	(59,064)
CEO transition costs	0	0	0	(10)
Share-based compensation expense	(7,434)	(6,240)	(21,801)	(15,335)
Acquisition transaction costs	(208)	0	(18,816)	(9)
Certain legal-related (expense) benefit	(638)	0	(941)	2,165
Loss on sales of customer lists	0	0	0	(18)
Income (loss) before income taxes	17,192	41,538	69,675	(5,627)
Reportable business segments [Member]
Business segment information [Line Items]
Revenue	532,141	439,461	1,451,622	1,336,288
Adjusted EBITDA	145,561	139,603	423,955	400,767
Reportable business segments [Member] | Payments [Member]
Business segment information [Line Items]
Revenue	160,268	74,675	343,045	223,886
Adjusted EBITDA	31,598	16,746	71,125	50,352
Reportable business segments [Member] | Cloud Solutions [Member]
Business segment information [Line Items]
Revenue	69,497	63,758	199,784	193,600
Adjusted EBITDA	19,036	16,425	55,047	45,494
Reportable business segments [Member] | Promotional Solutions [Member]
Business segment information [Line Items]
Revenue	130,330	124,929	389,825	385,667
Adjusted EBITDA	17,673	21,478	56,804	46,529
Reportable business segments [Member] | Checks [Member]
Business segment information [Line Items]
Revenue	172,046	176,099	518,968	533,135
Adjusted EBITDA	77,254	84,954	240,979	258,392
Corporate [Member]
Business segment information [Line Items]
Adjusted EBITDA	$ (42,832)	$ (37,090)	$ (133,259)	$ (131,101)

Business segment information _2

Business segment information (disaggregated revenue information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregated revenue information
Revenue	$ 532,141	$ 439,461	$ 1,451,622	$ 1,336,288
United States [Member]
Disaggregated revenue information
Revenue	502,282	411,451	1,360,623	1,254,866
Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	29,859	28,010	90,999	81,422
Reportable business segments [Member]
Disaggregated revenue information
Revenue	532,141	439,461	1,451,622	1,336,288
Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	160,268	74,675	343,045	223,886
Reportable business segments [Member] | Payments [Member] | United States [Member]
Disaggregated revenue information
Revenue	150,594	66,377	312,874	198,965
Reportable business segments [Member] | Payments [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	9,674	8,298	30,171	24,921
Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	69,497	63,758	199,784	193,600
Reportable business segments [Member] | Cloud Solutions [Member] | United States [Member]
Disaggregated revenue information
Revenue	60,778	55,755	173,555	169,917
Reportable business segments [Member] | Cloud Solutions [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	8,719	8,003	26,229	23,683
Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	130,330	124,929	389,825	385,667
Reportable business segments [Member] | Promotional Solutions [Member] | United States [Member]
Disaggregated revenue information
Revenue	124,571	118,454	373,042	369,023
Reportable business segments [Member] | Promotional Solutions [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	5,759	6,475	16,783	16,644
Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	172,046	176,099	518,968	533,135
Reportable business segments [Member] | Checks [Member] | United States [Member]
Disaggregated revenue information
Revenue	166,339	170,865	501,152	516,961
Reportable business segments [Member] | Checks [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	5,707	5,234	17,816	16,174
Checks [Member]
Disaggregated revenue information
Revenue	172,046	176,099	518,968	533,135
Checks [Member] | Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	172,046	176,099	518,968	533,135
Merchant services and other payments solutions [Member]
Disaggregated revenue information
Revenue	103,014	19,257	170,431	56,808
Merchant services and other payments solutions [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	103,014	19,257	170,431	56,808
Forms and other products [Member]
Disaggregated revenue information
Revenue	68,646	77,492	218,622	234,735
Forms and other products [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	68,646	77,492	218,622	234,735
Marketing and promotional solutions [Member]
Disaggregated revenue information
Revenue	61,684	47,437	171,203	150,932
Marketing and promotional solutions [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	61,684	47,437	171,203	150,932
Treasury management solutions [Member]
Disaggregated revenue information
Revenue	57,254	55,418	172,614	167,078
Treasury management solutions [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	57,254	55,418	172,614	167,078
Data-driven marketing solutions [Member]
Disaggregated revenue information
Revenue	41,956	30,508	115,120	88,927
Data-driven marketing solutions [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	41,956	30,508	115,120	88,927
Web and hosted solutions [Member]
Disaggregated revenue information
Revenue	27,541	33,250	84,664	104,673
Web and hosted solutions [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	$ 27,541	$ 33,250	$ 84,664	$ 104,673

Risks and uncertainties (Detail

Risks and uncertainties (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Loans and notes receivable from distributors, allowances for uncollectible accounts [Line Items]
Loans and notes receivable from distributors	$ 21,729	$ 37,076
Loans and notes receivable from distributors [Member]
Loans and notes receivable from distributors, allowances for uncollectible accounts [Line Items]
Allowance for uncollectible accounts	$ 2,837	$ 3,995	$ 4,278	$ 284