Deluxe (DLX) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Document

Document - shares	9 Months Ended
	Sep. 30, 2022	Oct. 26, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	2022
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		43,136,109

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 45,535	$ 41,231
Trade accounts receivable, net of allowance for credit losses	195,151	197,947
Inventories and supplies	45,249	34,928
Funds held for customers, including securities carried at fair value of $7,941 and $13,307, respectively	155,555	254,795
Prepaid expenses	34,513	37,643
Revenue in excess of billings	38,350	30,393
Other current assets	36,066	23,536
Total current assets	550,419	620,473
Deferred income taxes	1,915	2,180
Long-term investments	47,547	47,201
Property, plant and equipment, net of accumulated depreciation of $373,481 and $338,617, respectively	122,478	125,966
Operating lease assets	51,295	58,236
Intangibles, net of accumulated amortization of $789,750 and $698,764, respectively	476,099	510,724
Goodwill	1,431,358	1,430,141
Other non-current assets	276,210	279,463
Total assets	2,957,321	3,074,384
Current liabilities:
Accounts payable	148,474	153,072
Funds held for customers	155,369	256,257
Accrued liabilities	217,495	216,832
Current portion of long-term debt	64,506	57,197
Total current liabilities	585,844	683,358
Long-term debt	1,606,458	1,625,752
Operating lease liabilities	52,356	56,444
Deferred income taxes	56,432	75,121
Other non-current liabilities	54,159	59,111
Commitments and contingencies (Note 13)
Shareholders' equity:
Common shares $1 par value (authorized: 500,000 shares; outstanding: September 30, 2022 - 43,136; December 31, 2021 - 42,679)	43,136	42,679
Additional paid-in capital	73,856	57,368
Retained earnings	512,342	505,763
Accumulated other comprehensive loss	(27,648)	(31,492)
Non-controlling interest	386	280
Total shareholders' equity	602,072	574,598
Total liabilities and shareholders' equity	$ 2,957,321	$ 3,074,384

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Funds held for customers, securities carried at fair value	$ 7,941	$ 13,307
Accumulated depreciation	373,481	338,617
Accumulated amortization	$ 789,750	$ 698,764
Common stock, par value (per share)	$ 1	$ 1
Common stock, shares authorized	500,000	500,000
Common stock, shares outstanding	43,136	42,679

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Total revenue	$ 555,038	$ 532,141	$ 1,674,006	$ 1,451,622
Total cost of revenue	(256,225)	(244,151)	(769,532)	(629,237)
Gross profit	298,813	287,990	904,474	822,385
Selling, general and administrative expense	(243,816)	(239,251)	(753,140)	(685,593)
Restructuring and integration expense	(15,188)	(12,335)	(46,614)	(38,012)
Gain on sale of businesses and facility	1,804	0	19,331	0
Operating income	41,613	36,404	124,051	98,780
Interest expense	(23,799)	(21,494)	(65,471)	(35,548)
Other income	3,075	2,282	7,492	6,443
Income before income taxes	20,889	17,192	66,072	69,675
Income tax provision	(6,129)	(4,691)	(19,536)	(20,720)
Net income	14,760	12,501	46,536	48,955
Net income attributable to non-controlling interest	(35)	(37)	(106)	(99)
Net income attributable to Deluxe	14,725	12,464	46,430	48,856
Total comprehensive income	12,066	10,099	50,380	50,157
Comprehensive income attributable to Deluxe	$ 12,031	$ 10,062	$ 50,274	$ 50,058
Basic earnings per share	$ 0.34	$ 0.29	$ 1.08	$ 1.15
Diluted earnings per share	$ 0.34	$ 0.28	$ 1.06	$ 1.13
Product [Member]
Total revenue	$ 317,250	$ 302,369	$ 956,662	$ 907,646
Total cost of revenue	(113,608)	(111,008)	(345,488)	(330,896)
Service [Member]
Total revenue	237,788	229,772	717,344	543,976
Total cost of revenue	$ (142,617)	$ (133,143)	$ (424,044)	$ (298,341)

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common shares par value [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive loss [Member]	Non-controlling interest [Member]
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 attributable to Deluxe	$ 48,856			48,856
Net income attributable to non-controlling interest	99					99
Net income	48,955
Cash dividends ($0.30 per share for the quarters ended September 30, 2022 and 2021 and $0.90 per share for the nine months ended September 30, 2022 and 2021)	(38,909)			(38,909)
Common shares issued	$ 16,399	744	15,655
Common shares issued (in shares)	744
Common shares retired	$ (4,634)	(116)	(4,518)
Common shares retired (in shares)	(116)
Employee share-based compensation	$ 21,461		21,461
Other comprehensive income	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 attributable to Deluxe	$ 12,464			12,464
Net income attributable to non-controlling interest	37					37
Net income	12,501
Cash dividends ($0.30 per share for the quarters ended September 30, 2022 and 2021 and $0.90 per share for the nine months ended September 30, 2022 and 2021)	(13,117)			(13,117)
Common shares issued	$ 1,179	75	1,104
Common shares issued (in shares)	75
Common shares retired	$ (463)	(11)	(452)
Common shares retired (in shares)	(11)
Employee share-based compensation	$ 7,897		7,897
Other comprehensive income	(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
Balance, beginning of period at Dec. 31, 2021	$ 574,598	42,679	57,368	505,763	(31,492)	280
Balance (in shares) at Dec. 31, 2021	42,679
Net income attributable to Deluxe	$ 46,430			46,430
Net income attributable to non-controlling interest	106					106
Net income	46,536
Cash dividends ($0.30 per share for the quarters ended September 30, 2022 and 2021 and $0.90 per share for the nine months ended September 30, 2022 and 2021)	(39,851)			(39,851)
Common shares issued	$ 3,116	646	2,470
Common shares issued (in shares)	646
Common shares retired	$ (5,597)	(189)	(5,408)
Common shares retired (in shares)	(189)
Employee share-based compensation	$ 19,426		19,426
Other comprehensive income	3,844				3,844
Balance, end of period at Sep. 30, 2022	$ 602,072	43,136	73,856	512,342	(27,648)	386
Balance (in shares) at Sep. 30, 2022	43,136
Balance, beginning of period at Jun. 30, 2022	$ 596,791	43,080	67,417	510,897	(24,954)	351
Balance (in shares) at Jun. 30, 2022	43,080
Net income attributable to Deluxe	$ 14,725			14,725
Net income attributable to non-controlling interest	35					35
Net income	14,760
Cash dividends ($0.30 per share for the quarters ended September 30, 2022 and 2021 and $0.90 per share for the nine months ended September 30, 2022 and 2021)	(13,280)			(13,280)
Common shares issued	$ 779	66	713
Common shares issued (in shares)	66
Common shares retired	$ (223)	(10)	(213)
Common shares retired (in shares)	(10)
Employee share-based compensation	$ 5,939		5,939
Other comprehensive income	(2,694)				(2,694)
Balance, end of period at Sep. 30, 2022	$ 602,072	$ 43,136	$ 73,856	$ 512,342	$ (27,648)	$ 386
Balance (in shares) at Sep. 30, 2022	43,136

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
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, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 46,536	$ 48,955
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	18,595	14,536
Amortization of intangibles	110,353	88,393
Operating lease expense	14,397	12,897
Amortization of prepaid product discounts	26,258	23,425
Deferred income taxes	(21,791)	13,733
Employee share-based compensation expense	18,766	21,801
Gain on sale of businesses and facility	(19,331)	0
Other non-cash items, net	22,940	10,459
Changes in assets and liabilities, net of effect of acquisition:
Trade accounts receivable	(878)	15,164
Inventories and supplies	(14,540)	3,787
Other current assets	(11,826)	(27,495)
Payments for cloud computing arrangement implementation costs	(16,608)	(27,989)
Other non-current assets	(11,808)	(7,832)
Accounts payable	(1,090)	8,538
Prepaid product discount payments	(23,920)	(27,049)
Other accrued and non-current liabilities	(12,635)	(22,094)
Net cash provided by operating activities	123,418	149,229
Cash flows from investing activities:
Purchases of capital assets	(73,454)	(81,081)
Payment for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired	0	(956,717)
Proceeds from sale of businesses and facility	25,248	2,648
Other	(1,144)	(1,211)
Net cash used by investing activities	(49,350)	(1,036,361)
Cash flows from financing activities:
Proceeds from issuing long-term debt and swingline loans	511,000	1,852,850
Payments on long-term debt and swingline loans	(524,175)	(903,438)
Payments for debt issuance costs	0	(18,153)
Net change in customer funds obligations	(88,079)	14,913
Proceeds from issuing shares	2,383	16,031
Employee taxes paid for shares withheld	(5,597)	(4,634)
Cash dividends paid to shareholders	(39,613)	(38,695)
Other	(5,480)	(7,254)
Net cash (used) provided by financing activities	(149,561)	911,620
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents	(14,107)	(793)
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents	(89,600)	23,695
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year	285,491	229,409
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	$ 195,891	$ 253,104

Consolidated financial statemen

Consolidated financial statements	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated financial statements	The consolidated balance sheet as of September 30, 2022, the consolidated statements of comprehensive income for the quarters and nine months ended September 30, 2022 and 2021, the consolidated statements of shareholders’ equity for the quarters and nine months ended September 30, 2022 and 2021 and the consolidated statements of cash flows for the nine months ended September 30, 2022 and 2021 are unaudited. The consolidated balance sheet as of December 31, 2021 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 or future results. 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, 2021 (the "2021 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, 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. Comparability – The consolidated statement of cash flows for the nine months ended September 30, 2021 has been modified to conform to the current year presentation. We presented payments for cloud computing arrangement implementation costs separately within cash flows from operating activities. Previously, this amount was included in other non-current assets. Also, we included purchases of and proceeds from customer funds marketable securities within other investing activities. Previously, these amounts were presented separately.

New accounting pronouncement

New accounting pronouncement	9 Months Ended
	Sep. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New accounting pronouncement	In March 2022, the Financial Accounting Standards Board issued Accounting Standards Update No. 2022-02, Troubled Debt Restructurings and Vintage Disclosures . The standard modifies the accounting for troubled debt restructurings by creditors and modifies certain disclosure requirements. The guidance will be applied prospectively, with the exception of the recognition and measurement of troubled debt restructurings, for which we may elect to apply a modified retrospective transition method. The standard is effective for us on January 1, 2023, and we do not expect its adoption to have a significant impact on our financial position or results of operations.

Supplemental balance sheet and

Supplemental balance sheet and cash flow information	9 Months Ended
	Sep. 30, 2022
Balance Sheet Related Disclosures [Abstract]
Supplemental balance sheet and cash flow information	Trade accounts receivable – Net trade accounts receivable was comprised of the following: (in thousands) September 30, December 31, Trade accounts receivable – gross $ 198,685 $ 202,077 Allowance for credit losses (3,534) (4,130) Trade accounts receivable – net (1) $ 195,151 $ 197,947 (1) Includes unbilled receivables of $51,941 as of September 30, 2022 and $47,420 as of December 31, 2021. Changes in the allowance for credit losses for the nine months ended September 30, 2022 and 2021 were as follows: Nine Months Ended (in thousands) 2022 2021 Balance, beginning of year $ 4,130 $ 6,428 Bad debt expense (benefit) 2,410 (412) Write-offs and other (3,006) (2,555) Balance, end of period $ 3,534 $ 3,461 Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) September 30, December 31, Raw materials $ 7,675 $ 5,316 Semi-finished goods 7,051 6,708 Finished goods 29,550 21,995 Supplies 6,496 6,041 Reserves for excess and obsolete items (5,523) (5,132) Inventories and supplies, net of reserves $ 45,249 $ 34,928 Changes in the reserves for excess and obsolete items were as follows for the nine months ended September 30, 2022 and 2021: Nine Months Ended (in thousands) 2022 2021 Balance, beginning of year $ 5,132 $ 11,748 Amounts charged to expense 2,552 2,884 Write-offs and other (2,161) (9,136) Balance, end of period $ 5,523 $ 5,496 Available-for-sale debt securities – Available-for-sale debt securities included within funds held for customers were comprised of the following: September 30, 2022 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Canadian and provincial government securities $ 8,975 $ — $ (1,034) $ 7,941 Available-for-sale debt securities $ 8,975 $ — $ (1,034) $ 7,941 (1) Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2022, also included cash of $147,614. December 31, 2021 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Canadian and provincial government securities $ 9,724 $ — $ (374) $ 9,350 Canadian guaranteed investment certificate 3,957 — — 3,957 Available-for-sale debt securities $ 13,681 $ — $ (374) $ 13,307 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2021, also included cash of $241,488. Expected maturities of available-for-sale debt securities as of September 30, 2022 were as follows: (in thousands) Fair value Due in one year or less $ 3,415 Due in two to five years 2,819 Due in six to ten years 1,707 Available-for-sale debt securities $ 7,941 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 $ 24,147 $ 22,780 Unconditional right to receive consideration (1) 14,203 7,613 Revenue in excess of billings $ 38,350 $ 30,393 (1) Represents revenues that are earned but not currently billable under the related contract terms. Intangibles – Intangibles were comprised of the following: September 30, 2022 December 31, 2021 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Internal-use software $ 510,141 $ (381,456) $ 128,685 $ 456,133 $ (342,656) $ 113,477 Customer lists/relationships 501,411 (299,318) 202,093 493,495 (255,178) 238,317 Technology-based intangibles 98,813 (44,646) 54,167 98,813 (38,553) 60,260 Partner relationships 74,399 (7,285) 67,114 73,095 (2,990) 70,105 Trade names 44,185 (25,985) 18,200 51,052 (31,277) 19,775 Software to be sold 36,900 (31,060) 5,840 36,900 (28,110) 8,790 Intangibles $ 1,265,849 $ (789,750) $ 476,099 $ 1,209,488 $ (698,764) $ 510,724 Amortization of intangibles was $35,855 for the quarter ended September 30, 2022, $36,570 for the quarter ended September 30, 2021, $110,353 for the nine months ended September 30, 2022 and $88,393 for the nine months ended September 30, 2021. Based on the intangibles in service as of September 30, 2022, estimated future amortization expense is as follows: (in thousands) Estimated Remainder of 2022 $ 37,168 2023 120,753 2024 81,627 2025 48,639 2026 45,553 We acquire and develop internal-use software in the normal course of business. We also, at times, purchase customer list and partner relationship assets. The following intangibles were capitalized during the nine months ended September 30, 2022: (in thousands) Amount Weighted-average amortization period Internal-use software $ 55,776 3 Customer lists/relationships 18,924 6 Partner relationships 1,304 2 Acquired intangibles $ 76,004 4 Goodwill – Changes in goodwill by reportable segment and in total were as follows for the nine months ended September 30, 2022: (in thousands) Payments Cloud Solutions Promotional Solutions Checks Total Balance, December 31, 2021: Goodwill, gross $ 895,338 $ 432,984 $ 252,874 $ 434,812 $ 2,016,008 Accumulated impairment charges — (392,168) (193,699) — (585,867) Goodwill, net of accumulated impairment charges 895,338 40,816 59,175 434,812 1,430,141 Measurement-period adjustment (Note 6) 1,343 — — — 1,343 Currency translation adjustment — — (126) — (126) Balance, September 30, 2022 $ 896,681 $ 40,816 $ 59,049 $ 434,812 $ 1,431,358 Balance, September 30, 2022: Goodwill, gross $ 896,681 $ 432,984 $ 252,748 $ 434,812 $ 2,017,225 Accumulated impairment charges — (392,168) (193,699) — (585,867) Goodwill, net of accumulated impairment charges $ 896,681 $ 40,816 $ 59,049 $ 434,812 $ 1,431,358 Other non-current assets – Other non-current assets were comprised of the following: (in thousands) September 30, December 31, Postretirement benefit plan asset $ 92,802 $ 87,019 Cloud computing arrangement implementation costs 70,519 63,806 Prepaid product discounts 48,591 56,527 Deferred contract acquisition costs (1) 21,671 17,975 Loans and notes receivable from distributors, net of allowance for credit losses (2) 13,525 20,201 Other 29,102 33,935 Other non-current assets $ 276,210 $ 279,463 (1) Amortization of deferred contract acquisition costs was $5,872 for the nine months ended September 30, 2022 and $3,366 for the nine months ended September 30, 2021. (2) 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 $992 as of September 30, 2022 and $1,317 as of December 31, 2021. Changes in the allowance for credit losses related to loans and notes receivable from distributors were as follows for the nine months ended September 30, 2022 and 2021: Nine Months Ended (in thousands) 2022 2021 Balance, beginning of year $ 2,830 $ 3,995 Bad debt expense (benefit) 1,221 (1,158) Other (402) — Balance, end of period $ 3,649 $ 2,837 Past due receivables and those on non-accrual status were not significant as of September 30, 2022 or December 31, 2021. 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, 2022. There were no write-offs or recoveries recorded during the nine months ended September 30, 2022. 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 $ 1,172 $ 443 $ 4,247 $ 8,720 $ 985 $ 15,567 3-4 internal grade — 2,599 — — — 2,599 Loans and notes receivable $ 1,172 $ 3,042 $ 4,247 $ 8,720 $ 985 $ 18,166 Changes in prepaid product discounts during the nine months ended September 30, 2022 and 2021 were as follows: Nine Months Ended (in thousands) 2022 2021 Balance, beginning of year $ 56,527 $ 50,602 Additions (1) 18,721 24,284 Amortization (26,258) (23,425) Other (399) (191) Balance, end of period $ 48,591 $ 51,270 (1) Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $23,920 for the nine months ended September 30, 2022 and $27,049 for the nine months ended September 30, 2021. Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) September 30, December 31, Employee cash bonuses, including sales incentives $ 38,780 $ 45,006 Deferred revenue (1) 36,193 52,645 Wages and payroll liabilities, including vacation 34,679 24,951 Interest 16,021 4,597 Operating lease liabilities 12,672 14,852 Customer rebates 12,140 9,036 Prepaid product discounts 6,568 11,866 Other 60,442 53,879 Accrued liabilities $ 217,495 $ 216,832 (1) $41,222 of the December 31, 2021 amount was recognized as revenue during the nine months ended September 30, 2022. 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 $ 45,535 $ 121,064 Restricted cash and restricted cash equivalents included in funds held for customers 147,614 129,180 Non-current restricted cash included in other non-current assets 2,742 2,860 Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 195,891 $ 253,104

Earnings per share

Earnings per share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings per share	The following table reflects the calculation of basic and diluted earnings per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted earnings per share because their effect would have been antidilutive. Quarter Ended Nine Months Ended (in thousands, except per share amounts) 2022 2021 2022 2021 Earnings per share – basic: Net income $ 14,760 $ 12,501 $ 46,536 $ 48,955 Net income attributable to non-controlling interest (35) (37) (106) (99) Net income attributable to Deluxe 14,725 12,464 46,430 48,856 Income allocated to participating securities (10) (9) (33) (36) Income attributable to Deluxe available to common shareholders $ 14,715 $ 12,455 $ 46,397 $ 48,820 Weighted-average shares outstanding 43,116 42,574 42,974 42,294 Earnings per share – basic $ 0.34 $ 0.29 $ 1.08 $ 1.15 Earnings per share – diluted: Net income $ 14,760 $ 12,501 $ 46,536 $ 48,955 Net income attributable to non-controlling interest (35) (37) (106) (99) Net income attributable to Deluxe 14,725 12,464 46,430 48,856 Income allocated to participating securities — (9) (22) (27) Re-measurement of share-based awards classified as liabilities (162) (329) (507) (329) Income attributable to Deluxe available to common shareholders $ 14,563 $ 12,126 $ 45,901 $ 48,500 Weighted-average shares outstanding 43,116 42,574 42,974 42,294 Dilutive impact of potential common shares 234 457 310 453 Weighted-average shares and potential common shares outstanding 43,350 43,031 43,284 42,747 Earnings per share – diluted $ 0.34 $ 0.28 $ 1.06 $ 1.13 Antidilutive options excluded from calculation 1,815 2,314 1,815 2,314

Other comprehensive income

Other comprehensive income	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other comprehensive income	Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net income was as follows: Accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affected line item in consolidated statements of comprehensive income Quarter Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Amortization of postretirement benefit plan items: Prior service credit $ 355 $ 355 $ 1,066 $ 1,066 Other income Net actuarial loss (225) (407) (674) (1,221) Other income Total amortization 130 (52) 392 (155) Other income Tax expense (79) (30) (237) (93) Income tax provision Amortization of postretirement benefit plan items, net of tax 51 (82) 155 (248) Net income Realized loss on debt securities — — (8) — Revenue Tax benefit — — 2 — Income tax provision Realized loss on debt securities, net of tax — — (6) — Net income Realized gain (loss) on cash flow hedges 53 (371) (412) (1,035) Interest expense Tax (expense) benefit (15) 97 109 271 Income tax provision Realized gain (loss) on cash flow hedges, net of tax 38 (274) (303) (764) Net income Currency translation adjustment (1) — — (5,550) — Gain on sale of businesses and facility Total reclassifications, net of tax $ 89 $ (356) $ (5,704) $ (1,012) (1) Relates to the sale of our Australian web hosting business during the quarter ended June 30, 2022. Further information can be found in Note 6. Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the nine months ended September 30, 2022 were as follows: (in thousands) Postretirement benefit plans Net unrealized loss on debt securities (1) Net unrealized loss on cash flow hedges (2) Currency translation adjustment Accumulated other comprehensive loss Balance, December 31, 2021 $ (15,431) $ (344) $ (2,261) $ (13,456) $ (31,492) Other comprehensive (loss) income before reclassifications — (566) 4,712 (6,006) (1,860) Amounts reclassified from accumulated other comprehensive loss (155) 6 303 5,550 5,704 Net current-period other comprehensive (loss) income (155) (560) 5,015 (456) 3,844 Balance, September 30, 2022 $ (15,586) $ (904) $ 2,754 $ (13,912) $ (27,648) (1) Other comprehensive loss before reclassifications is net of an income tax benefit of $197. (2) Other comprehensive income before reclassifications is net of income tax expense of $1,701.

Acquisition and divestitures

Acquisition and divestitures	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Acquisition and divestitures	Acquisition – On June 1, 2021, we acquired all of the equity of First American Payment Systems, L.P. (First American). Further information regarding this acquisition can be found under the caption "Note 6: Acquisitions" in the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K. During the quarter ended June 30, 2022, we finalized the purchase price allocation for this acquisition and we recorded measurement-period adjustments that increased deferred income tax liabilities by $1,343, with a corresponding offset to goodwill. The final allocation of the First American purchase price to the assets acquired and liabilities assumed was as follows: (in thousands) Purchase price allocation Trade accounts receivable $ 27,296 Other current assets 8,533 Property, plant and equipment 9,873 Operating lease assets 24,396 Intangible assets: Customer relationships 127,000 Partner relationships 72,000 Technology-based intangibles 65,000 Trade names 21,000 Internal-use software 6,111 Total intangible assets 291,111 Goodwill 728,516 Other-non-current assets 350 Accounts payable (18,475) Funds held for customers (9,428) Accrued liabilities (23,460) Operating lease liabilities, non-current (21,316) Deferred income taxes (54,506) Other non-current liabilities (4,376) Payments for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired of $15,841 $ 958,514 Further information regarding the acquired First American intangibles can be found under the caption "Note 3: Supplemental Balance Sheet and Cash Flow Information" and "Note 8: Fair Value Measurements," both of which are included in the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K. First American acquisition transaction costs are included in selling, general and administrative (SG&A) expense in the consolidated statements of comprehensive income and were $208 for the quarter ended September 30, 2021 and $18,816 for the nine months ended September 30, 2021. Operating results for First American were as follows for the nine months ended September 30: Nine Months Ended (in thousands) 2022 2021 Revenue $ 259,724 $ 109,828 Net income attributable to Deluxe 2,902 824 The above results include restructuring and integration costs of $5,209 for the nine months ended September 30, 2022. Pro forma financial information – During the first quarter of 2022, we identified errors in the previously reported pro forma results of operations related to the First American acquisition. These errors related to the amount of historical First American revenue and net income (loss) included for the pre-acquisition periods, as well as errors in the adjustments related to the amortization of acquired intangibles, interest expense on the acquisition financing and transaction costs. For the quarter and six months ended June 30, 2021 and the nine months ended September 30, 2021, these corrections decreased pro forma revenue by $27,595 from the amounts previously reported. For the years ended December 31, 2021 and 2020, these corrections decreased pro forma revenue by $26,335 and $3,027, respectively, from the amounts previously reported. The corrections to adjusted pro forma net income (loss) attributable to Deluxe from the amounts previously reported were as follows: (in thousands) Increase (decrease) in pro forma net income attributable to Deluxe Quarter ended June 30, 2021 $ 7,636 Six Months ended June 30, 2021 5,911 Quarter ended September 30, 2021 2,231 Nine Months ended September 30, 2021 8,142 Year Ended December 31, 2021 10,138 Year Ended December 31, 2020 (9,082) The following unaudited pro forma financial information summarizes our consolidated results of operations as though the First American acquisition occurred on January 1, 2020: As Revised (in thousands) Quarter Ended Quarter Ended Six Months Ended Quarter Ended Sept. 30, 2021 (1) Nine Months Ended Year Ended December 31, 2021 Year Ended December 31, 2020 Revenue $ 518,104 $ 535,493 $ 1,053,597 $ 532,141 $ 1,585,738 $ 2,156,313 $ 2,079,103 Net income (loss) attributable to Deluxe 19,044 24,579 43,623 14,695 58,318 74,843 (54,489) (1) Only net income attributable to Deluxe was revised for the quarter ended September 30, 2021. 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 2021 Form 10-K. The pro forma information includes adjustments to reflect the additional amortization that would have been recorded assuming the fair value adjustments to intangible assets had been applied from January 1, 2020. The pro forma information also includes adjustments to reflect the additional interest expense on the debt we issued to fund the acquisition, and the acquisition transaction costs we incurred during 2021 are reflected in the 2020 pro forma results. This pro forma financial information is for informational purposes only. It does not reflect the integration of the businesses or any synergies that may result from the acquisition. As such, it is not indicative of the results of operations that would have been achieved had the acquisition been consummated on January 1, 2020. In addition, the pro forma amounts are not indicative of future operating results. Divestitures – In May 2022, we completed the sale of our Australian web hosting business for cash proceeds of $17,620, net of costs of the sale. This business generated annual revenue in our Cloud Solutions segment of $23,766 for 2021. During the quarter ended June 30, 2022, we recognized a pretax gain of $15,166 on this sale. The assets and liabilities sold were not significant to our consolidated balance sheet. In April 2022, we sold the assets of our Promotional Solutions strategic sourcing business, and in August 2022, we sold the assets of our Promotional Solutions retail packaging business. These businesses generated annual revenue of approximately $29,000 during 2021. Neither the gain on these sales nor the assets and liabilities sold were significant to our consolidated financial statements. We believe that the sale of these businesses allows us to focus our resources on the key growth areas of payments and data, while allowing us to optimize our operations. Facility sale – In May 2022, we sold our former facility located in Lancaster, California for cash proceeds of $6,929, net of costs of the sale, and we recognized a pretax gain on the sale of $2,361 during the quarter ended June 30, 2022. The sale was a result of our continued real estate rationalization process.

Derivative financial instrument

Derivative financial instruments	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative financial instruments	As part of our interest rate risk management strategy, we entered into interest rate swaps, which we designated as cash flow hedges, to mitigate variability in interest payments on a portion of our variable-rate debt (Note 12). Information regarding our cash flow hedges was as follows: September 30, December 31, (in thousands) Notional amount Interest Rate Maturity Balance Sheet Location Fair Value Fair Value July 2019 $ 200,000 1.798 % March 2023 Other current assets $ 2,071 $ — Other non-current liabilities — (3,028) September 2022 interest rate swap: 300,000 3.895 % September 2025 Other non-current assets 1,726 — Changes in the fair values of the interest rate swaps 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 values of the derivatives are calculated based on the prevailing LIBOR rate curve on the date of measurement. The cash flow hedges were fully effective as of September 30, 2022 and December 31, 2021, and their impact on consolidated net income and our consolidated statements of cash flows was not significant. We also expect that the amount that will be reclassified to interest expense during the next 12 months will not be significant.

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair value measurements	2022 annual goodwill impairment analysis – Our impairment of goodwill policy can be found under the caption "Note 1: Significant Accounting Policies" in the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K. This policy explains our methodology for assessing the impairment of goodwill. In completing the 2022 annual impairment analysis of goodwill as of July 31, 2022, we elected to perform qualitative analyses for all of our reporting units, with the exception of our Cloud Data Analytics reporting unit. 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 value of any reporting unit was less than its carrying amount. The quantitative analysis of our Cloud Data Analytics reporting unit indicated that the estimated fair value of this reporting unit exceeded its carrying value by approximately $46,000, or by 39% above the carrying value of its net assets. As such, no goodwill impairment charges were recorded as a result of our annual impairment analysis. 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 as of December 31, 2021, also included an investment in a Canadian guaranteed investment certificate (GIC) with an original maturity of 2 years. The GIC investment matured during the quarter ended June 30, 2022. 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 approximated its fair value, based on estimates using current market rates offered for deposits with similar remaining maturities. 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 and were not significant during the quarters and nine months ended September 30, 2022 and 2021. Information regarding the fair values of our financial instruments was as follows: Fair value measurements using September 30, 2022 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: Available-for-sale debt securities Funds held for customers $ 7,941 $ 7,941 $ — $ 7,941 $ — Derivative assets (Note 7) Other current and non-current assets 3,797 3,797 — 3,797 — Amortized cost: Cash Cash and cash equivalents 45,535 45,535 45,535 — — Cash Funds held for customers 147,614 147,614 147,614 — — Cash Other non-current assets 2,742 2,742 2,742 — — Loans and notes receivable from distributors Other current and non-current assets 14,517 13,090 — — 13,090 Long-term debt Current portion of long-term debt and long-term debt 1,670,964 1,597,546 — 1,597,546 — Fair value measurements using December 31, 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: Available-for-sale debt securities Funds held for customers $ 13,307 $ 13,307 $ — $ 13,307 $ — Derivative liability (Note 7) Other non-current liabilities (3,028) (3,028) — (3,028) — Amortized cost: Cash Cash and cash equivalents 41,231 41,231 41,231 — — Cash Funds held for customers 241,488 241,488 241,488 — — Cash Other non-current assets 2,772 2,772 2,772 — — Loans and notes receivable from distributors Other current and non-current assets 21,518 22,344 — — 22,344 Long-term debt Current portion of long-term debt and long-term debt 1,682,949 1,728,515 — 1,728,515 —

Restructuring and integration e

Restructuring and integration expense	9 Months Ended
	Sep. 30, 2022
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, 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 as follows: Quarter Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Total cost of revenue $ 131 $ 1,559 $ 216 $ 3,073 Operating expenses 15,188 12,335 46,614 38,012 Restructuring and integration expense $ 15,319 $ 13,894 $ 46,830 $ 41,085 Restructuring and integration expense for each period was comprised of the following: Quarter Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 External consulting fees $ 7,670 $ 6,432 $ 24,670 $ 19,355 Internal labor 1,877 1,756 6,177 6,276 Employee severance benefits 3,826 1,293 8,232 3,167 Other 1,946 4,413 7,751 12,287 Restructuring and integration expense $ 15,319 $ 13,894 $ 46,830 $ 41,085 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 and the related severance payments are expected to be completed by mid-2023. Changes in our restructuring and integration accruals were as follows: (in thousands) Employee severance benefits Balance, December 31, 2021 $ 5,672 Charges 8,928 Reversals (696) Payments (7,502) Balance, September 30, 2022 $ 6,402 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, 2022
Income Tax Disclosure [Abstract]
Income tax provision	The effective tax rate on pretax income reconciles to the U.S. federal statutory tax rate as follows: Nine Months Year Ended Income tax at federal statutory rate 21.0 % 21.0 % Change in valuation allowance 10.2 % 0.1 % Tax impact of share-based compensation 4.0 % 0.9 % State income tax expense, net of federal income tax benefit 2.8 % 2.4 % Non-deductible executive compensation 2.2 % 1.7 % Foreign tax rate differences 1.5 % 1.7 % Tax on repatriation of foreign earnings 1.5 % 4.9 % Non-deductible acquisition costs 0.1 % 1.5 % Sale of business (Note 6) (12.5 %) — Research and development tax credit (1.0 %) (0.9 %) Other (0.2 %) (0.2 %) Effective tax rate 29.6 % 33.1 %

Postretirement benefits

Postretirement benefits	9 Months Ended
	Sep. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Postretirement benefits	We have historically provided certain health care benefits for eligible 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 13: Postretirement Benefits” in the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K. Postretirement benefit income is included in other income on the consolidated statements of comprehensive income and consisted of the following components: Quarter Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Interest cost $ 280 $ 242 $ 841 $ 726 Expected return on plan assets (1,866) (1,875) (5,596) (5,623) Amortization of prior service credit (355) (355) (1,066) (1,066) Amortization of net actuarial losses 225 407 674 1,221 Net periodic benefit income $ (1,716) $ (1,581) $ (5,147) $ (4,742)

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt outstanding was comprised of the following: (in thousands) September 30, December 31, Senior, secured term loan facility $ 1,001,813 $ 1,072,125 Senior, unsecured notes 475,000 500,000 Amounts drawn on senior, secured revolving credit facility 210,000 130,000 Total principal amount 1,686,813 1,702,125 Less: unamortized discount and debt issuance costs (15,849) (19,176) Total debt, net of discount and debt issuance costs 1,670,964 1,682,949 Less: current portion of long-term debt, net of debt issuance costs (64,506) (57,197) Long-term debt $ 1,606,458 $ 1,625,752 Maturities of long-term debt were as follows as of September 30, 2022: (in thousands) Debt obligations Remainder of 2022 $ 14,438 2023 72,188 2024 86,625 2025 101,062 2026 937,500 Thereafter 475,000 Total principal amount $ 1,686,813 Credit facility – In June 2021, we executed a senior, secured credit facility consisting of a revolving credit facility with commitments of $500,000 and a $1,155,000 term loan facility. The revolving credit facility includes a $40,000 swingline sub-facility and a $25,000 letter of credit sub-facility. Proceeds from the credit facility were used to terminate our previous credit facility agreement and to fund the acquisition of First American (Note 6). 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 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 under the 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 the credit facility had a weighted-average interest rate of 5.30% as of September 30, 2022 and 2.67% as of December 31, 2021, including the impact of interest rate swaps that effectively convert $500,000 of our variable-rate debt to fixed rate debt. Further information regarding the interest rate swaps 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, 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 are required to maintain a minimum interest coverage ratio of at least 3.00 to 1.00 throughout the remaining term of the credit facility. Failure to meet any of the above requirements would result in an event of default that would allow lenders to declare amounts outstanding immediately due and payable and would allow the lenders to enforce their interests against collateral pledged if we are unable to settle the amounts outstanding. We were in compliance with all debt covenants as of September 30, 2022. 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 Year Ended Daily average amount outstanding $ 1,477,841 $ 1,109,819 Weighted-average interest rate 4.00 % 2.43 % As of September 30, 2022, amounts available for borrowing under our revolving credit facility were as follows: (in thousands) Available borrowings Revolving credit facility commitment $ 500,000 Amounts drawn on revolving credit facility (210,000) Outstanding letters of credit (1) (7,823) Net available for borrowing as of September 30, 2022 $ 282,177 (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 – In June 2021, we issued $500,000 of 8.0% senior, unsecured notes that mature in June 2029. The notes were issued via a private placement under Rule 144A of the Securities Act of 1933. Proceeds from the offering, net of discount and offering costs, were $490,741, resulting in an effective interest rate of 8.3%. The net proceeds from the notes were used to fund the acquisition of First American in June 2021 (Note 6). Interest payments are due each June and December. During the quarter ended September 30, 2022, we settled $25,000 of these notes via open market purchases. We realized a pretax gain of $1,726 on these debt retirements that is included in interest expense in the consolidated statements of comprehensive income for the quarter and nine months ended September 30, 2022.

Other commitments and contingen

Other commitments and contingencies	9 Months Ended
	Sep. 30, 2022
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, 2022 or December 31, 2021. 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 (FTC) 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 is our sole recourse for any such losses. The First American subsidiaries entered into a Stipulated Order for Permanent Injunction, Monetary Judgment, and Other Relief (the “Order”) with the FTC, which was approved by the FTC on July 29, 2022. The parties subsequently entered into an amended Order. Pursuant to the Order, among other things, the First American defendants are required to pay $4,900 to the FTC within 7 days of the entry of the Order. The First American defendants also agreed to certain injunctive relief. The above description is qualified in its entirety to the terms of the Order, which was filed as Exhibit 10.1 to the Current Report on Form 8-K that we filed on July 29, 2022. The revised Order is attached as Exhibit 10.1 to this report. The payment of the above-referenced amount, together with post-closing expenses that we and First American incurred in connection with this matter, will be withdrawn from the holdback referenced above. As such, the payment of such amount will not have a material impact on our consolidated financial statements. 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 $10,130 as of September 30, 2022 and $7,401 as of December 31, 2021. 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, 2022 or December 31, 2021. 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, 2022
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 under this authorization during the nine months ended September 30, 2022 or September 30, 2021, and $287,452 remained available for repurchase as of September 30, 2022. 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 second quarter of 2021.

Business segment information

Business segment information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Business segment information	We operate 4 reportable segments, generally organized by product type, as follows: • Payments – This segment includes our merchant in-store, online and mobile payment solutions; treasury management solutions, including remittance and lockbox processing, remote deposit capture, receivables management, payment processing and paperless treasury management; payroll and disbursement services, including Deluxe Payment Exchange; and fraud and security services. • Cloud Solutions – This segment includes data-driven marketing solutions; hosted solutions, including digital engagement, logo design, financial institution profitability reporting and business incorporation services; and web hosting and design services. • Promotional Solutions – This segment includes business forms, accessories, advertising specialties and promotional apparel. • Checks – This segment includes printed business and personal checks. The accounting policies of the segments are the same as those described in the Notes to Consolidated Financial Statements included in the 2021 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 portions of Europe, as well as partners in Central and South America, and had operations in Australia until May 2022 when this business was sold (Note 6). 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; share-based compensation expense; acquisition transaction costs; certain legal-related expense; and gains or losses on sales of businesses and long-lived assets. 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, 2022 and 2021 was as follows: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Payments: Revenue $ 169,787 $ 160,268 $ 507,149 $ 343,045 Adjusted EBITDA 36,184 31,598 107,605 71,125 Cloud Solutions: Revenue 66,739 69,497 204,824 199,784 Adjusted EBITDA 16,034 19,036 50,869 55,047 Promotional Solutions: Revenue 136,081 130,330 408,600 389,825 Adjusted EBITDA 18,255 17,673 49,795 56,804 Checks: Revenue 182,431 172,046 553,433 518,968 Adjusted EBITDA 80,478 77,254 245,838 240,979 Total segment: Revenue $ 555,038 $ 532,141 $ 1,674,006 $ 1,451,622 Adjusted EBITDA 150,951 145,561 454,107 423,955 The following table presents a reconciliation of total segment adjusted EBITDA to consolidated income before income taxes: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Total segment adjusted EBITDA $ 150,951 $ 145,561 $ 454,107 $ 423,955 Corporate operations (46,359) (42,832) (148,159) (133,259) Depreciation and amortization expense (42,304) (41,906) (128,948) (102,929) Interest expense (23,799) (21,494) (65,471) (35,548) Net income attributable to non-controlling interest 35 37 106 99 Restructuring, integration and other costs (15,319) (13,894) (46,830) (41,085) Share-based compensation expense (5,728) (7,434) (18,766) (21,801) Acquisition transaction costs (51) (208) (112) (18,816) Certain legal-related benefit (expense) 1,659 (638) 814 (941) Gain on sale of businesses and facility 1,804 — 19,331 — Income before income taxes $ 20,889 $ 17,192 $ 66,072 $ 69,675 The following tables present revenue disaggregated by our product and service offerings: Quarter Ended September 30, 2022 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 182,431 $ 182,431 Merchant services and other payment solutions 108,255 — — — 108,255 Forms and other products — — 71,797 — 71,797 Marketing and promotional solutions — — 64,284 — 64,284 Treasury management solutions 61,532 — — — 61,532 Data-driven marketing solutions — 46,993 — — 46,993 Web and hosted solutions — 19,746 — — 19,746 Total revenue $ 169,787 $ 66,739 $ 136,081 $ 182,431 $ 555,038 Quarter Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 172,046 $ 172,046 Merchant services and other payment 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 Nine Months Ended September 30, 2022 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 553,433 $ 553,433 Merchant services and other payment solutions 328,144 — — — 328,144 Forms and other products — — 211,517 — 211,517 Marketing and promotional solutions — — 197,083 — 197,083 Treasury management solutions 179,005 — — — 179,005 Data-driven marketing solutions — 134,307 — — 134,307 Web and hosted solutions — 70,517 — — 70,517 Total revenue $ 507,149 $ 204,824 $ 408,600 $ 553,433 $ 1,674,006 Nine Months Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 518,968 $ 518,968 Merchant services and other payment 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 The following tables present revenue disaggregated by geography, based on where items are shipped from or where services are performed: Quarter Ended September 30, 2022 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 159,160 $ 64,111 $ 129,697 $ 175,481 $ 528,449 Foreign, primarily Canada 10,627 2,628 6,384 6,950 26,589 Total revenue $ 169,787 $ 66,739 $ 136,081 $ 182,431 $ 555,038 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 Nine Months Ended September 30, 2022 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 475,368 $ 188,494 $ 389,824 $ 531,260 $ 1,584,946 Foreign, primarily Canada and Australia 31,781 16,330 18,776 22,173 89,060 Total revenue $ 507,149 $ 204,824 $ 408,600 $ 553,433 $ 1,674,006 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

Consolidated financial statem_2

Consolidated financial statements (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Comparability	Comparability – The consolidated statement of cash flows for the nine months ended September 30, 2021 has been modified to conform to the current year presentation. We presented payments for cloud computing arrangement implementation costs separately within cash flows from operating activities. Previously, this amount was included in other non-current assets. Also, we included purchases of and proceeds from customer funds marketable securities within other investing activities. Previously, these amounts were presented separately.

Supplemental balance sheet an_2

Supplemental balance sheet and cash flow information (Tables)	9 Months Ended
	Sep. 30, 2022
Inventories and supplies	Inventories and supplies – Inventories and supplies were comprised of the following: (in thousands) September 30, December 31, Raw materials $ 7,675 $ 5,316 Semi-finished goods 7,051 6,708 Finished goods 29,550 21,995 Supplies 6,496 6,041 Reserves for excess and obsolete items (5,523) (5,132) Inventories and supplies, net of reserves $ 45,249 $ 34,928 Changes in the reserves for excess and obsolete items were as follows for the nine months ended September 30, 2022 and 2021: Nine Months Ended (in thousands) 2022 2021 Balance, beginning of year $ 5,132 $ 11,748 Amounts charged to expense 2,552 2,884 Write-offs and other (2,161) (9,136) Balance, end of period $ 5,523 $ 5,496
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, 2022 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Canadian and provincial government securities $ 8,975 $ — $ (1,034) $ 7,941 Available-for-sale debt securities $ 8,975 $ — $ (1,034) $ 7,941 (1) Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2022, also included cash of $147,614. December 31, 2021 (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Funds held for customers: (1) Canadian and provincial government securities $ 9,724 $ — $ (374) $ 9,350 Canadian guaranteed investment certificate 3,957 — — 3,957 Available-for-sale debt securities $ 13,681 $ — $ (374) $ 13,307 (1) Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2021, also included cash of $241,488.
Expected maturities of available-for-sale debt securities	Expected maturities of available-for-sale debt securities as of September 30, 2022 were as follows: (in thousands) Fair value Due in one year or less $ 3,415 Due in two to five years 2,819 Due in six to ten years 1,707 Available-for-sale debt securities $ 7,941
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 $ 24,147 $ 22,780 Unconditional right to receive consideration (1) 14,203 7,613 Revenue in excess of billings $ 38,350 $ 30,393 (1) Represents revenues that are earned but not currently billable under the related contract terms.
Intangibles	Intangibles – Intangibles were comprised of the following: September 30, 2022 December 31, 2021 (in thousands) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Internal-use software $ 510,141 $ (381,456) $ 128,685 $ 456,133 $ (342,656) $ 113,477 Customer lists/relationships 501,411 (299,318) 202,093 493,495 (255,178) 238,317 Technology-based intangibles 98,813 (44,646) 54,167 98,813 (38,553) 60,260 Partner relationships 74,399 (7,285) 67,114 73,095 (2,990) 70,105 Trade names 44,185 (25,985) 18,200 51,052 (31,277) 19,775 Software to be sold 36,900 (31,060) 5,840 36,900 (28,110) 8,790 Intangibles $ 1,265,849 $ (789,750) $ 476,099 $ 1,209,488 $ (698,764) $ 510,724
Estimated future amortization expense	Based on the intangibles in service as of September 30, 2022, estimated future amortization expense is as follows: (in thousands) Estimated Remainder of 2022 $ 37,168 2023 120,753 2024 81,627 2025 48,639 2026 45,553
Acquired intangibles	We acquire and develop internal-use software in the normal course of business. We also, at times, purchase customer list and partner relationship assets. The following intangibles were capitalized during the nine months ended September 30, 2022: (in thousands) Amount Weighted-average amortization period Internal-use software $ 55,776 3 Customer lists/relationships 18,924 6 Partner relationships 1,304 2 Acquired intangibles $ 76,004 4
Goodwill	Goodwill – Changes in goodwill by reportable segment and in total were as follows for the nine months ended September 30, 2022: (in thousands) Payments Cloud Solutions Promotional Solutions Checks Total Balance, December 31, 2021: Goodwill, gross $ 895,338 $ 432,984 $ 252,874 $ 434,812 $ 2,016,008 Accumulated impairment charges — (392,168) (193,699) — (585,867) Goodwill, net of accumulated impairment charges 895,338 40,816 59,175 434,812 1,430,141 Measurement-period adjustment (Note 6) 1,343 — — — 1,343 Currency translation adjustment — — (126) — (126) Balance, September 30, 2022 $ 896,681 $ 40,816 $ 59,049 $ 434,812 $ 1,431,358 Balance, September 30, 2022: Goodwill, gross $ 896,681 $ 432,984 $ 252,748 $ 434,812 $ 2,017,225 Accumulated impairment charges — (392,168) (193,699) — (585,867) Goodwill, net of accumulated impairment charges $ 896,681 $ 40,816 $ 59,049 $ 434,812 $ 1,431,358
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 $ 92,802 $ 87,019 Cloud computing arrangement implementation costs 70,519 63,806 Prepaid product discounts 48,591 56,527 Deferred contract acquisition costs (1) 21,671 17,975 Loans and notes receivable from distributors, net of allowance for credit losses (2) 13,525 20,201 Other 29,102 33,935 Other non-current assets $ 276,210 $ 279,463 (1) Amortization of deferred contract acquisition costs was $5,872 for the nine months ended September 30, 2022 and $3,366 for the nine months ended September 30, 2021. (2) 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 $992 as of September 30, 2022 and $1,317 as of December 31, 2021.
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, 2022. There were no write-offs or recoveries recorded during the nine months ended September 30, 2022. 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 $ 1,172 $ 443 $ 4,247 $ 8,720 $ 985 $ 15,567 3-4 internal grade — 2,599 — — — 2,599 Loans and notes receivable $ 1,172 $ 3,042 $ 4,247 $ 8,720 $ 985 $ 18,166
Changes in prepaid product discounts	Changes in prepaid product discounts during the nine months ended September 30, 2022 and 2021 were as follows: Nine Months Ended (in thousands) 2022 2021 Balance, beginning of year $ 56,527 $ 50,602 Additions (1) 18,721 24,284 Amortization (26,258) (23,425) Other (399) (191) Balance, end of period $ 48,591 $ 51,270 (1) Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $23,920 for the nine months ended September 30, 2022 and $27,049 for the nine months ended September 30, 2021.
Accrued liabilities	Accrued liabilities – Accrued liabilities were comprised of the following: (in thousands) September 30, December 31, Employee cash bonuses, including sales incentives $ 38,780 $ 45,006 Deferred revenue (1) 36,193 52,645 Wages and payroll liabilities, including vacation 34,679 24,951 Interest 16,021 4,597 Operating lease liabilities 12,672 14,852 Customer rebates 12,140 9,036 Prepaid product discounts 6,568 11,866 Other 60,442 53,879 Accrued liabilities $ 217,495 $ 216,832 (1) $41,222 of the December 31, 2021 amount was recognized as revenue during the nine months ended September 30, 2022.
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 $ 45,535 $ 121,064 Restricted cash and restricted cash equivalents included in funds held for customers 147,614 129,180 Non-current restricted cash included in other non-current assets 2,742 2,860 Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 195,891 $ 253,104
Trade accounts receivable [Member]
Allowance for credit losses	Trade accounts receivable – Net trade accounts receivable was comprised of the following: (in thousands) September 30, December 31, Trade accounts receivable – gross $ 198,685 $ 202,077 Allowance for credit losses (3,534) (4,130) Trade accounts receivable – net (1) $ 195,151 $ 197,947 (1) Includes unbilled receivables of $51,941 as of September 30, 2022 and $47,420 as of December 31, 2021. Changes in the allowance for credit losses for the nine months ended September 30, 2022 and 2021 were as follows: Nine Months Ended (in thousands) 2022 2021 Balance, beginning of year $ 4,130 $ 6,428 Bad debt expense (benefit) 2,410 (412) Write-offs and other (3,006) (2,555) Balance, end of period $ 3,534 $ 3,461
Loans and notes receivable [Member]
Allowance for credit losses	Changes in the allowance for credit losses related to loans and notes receivable from distributors were as follows for the nine months ended September 30, 2022 and 2021: Nine Months Ended (in thousands) 2022 2021 Balance, beginning of year $ 2,830 $ 3,995 Bad debt expense (benefit) 1,221 (1,158) Other (402) — Balance, end of period $ 3,649 $ 2,837

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings per share	The following table reflects the calculation of basic and diluted earnings per share. During each period, certain stock options, as noted below, were excluded from the calculation of diluted earnings per share because their effect would have been antidilutive. Quarter Ended Nine Months Ended (in thousands, except per share amounts) 2022 2021 2022 2021 Earnings per share – basic: Net income $ 14,760 $ 12,501 $ 46,536 $ 48,955 Net income attributable to non-controlling interest (35) (37) (106) (99) Net income attributable to Deluxe 14,725 12,464 46,430 48,856 Income allocated to participating securities (10) (9) (33) (36) Income attributable to Deluxe available to common shareholders $ 14,715 $ 12,455 $ 46,397 $ 48,820 Weighted-average shares outstanding 43,116 42,574 42,974 42,294 Earnings per share – basic $ 0.34 $ 0.29 $ 1.08 $ 1.15 Earnings per share – diluted: Net income $ 14,760 $ 12,501 $ 46,536 $ 48,955 Net income attributable to non-controlling interest (35) (37) (106) (99) Net income attributable to Deluxe 14,725 12,464 46,430 48,856 Income allocated to participating securities — (9) (22) (27) Re-measurement of share-based awards classified as liabilities (162) (329) (507) (329) Income attributable to Deluxe available to common shareholders $ 14,563 $ 12,126 $ 45,901 $ 48,500 Weighted-average shares outstanding 43,116 42,574 42,974 42,294 Dilutive impact of potential common shares 234 457 310 453 Weighted-average shares and potential common shares outstanding 43,350 43,031 43,284 42,747 Earnings per share – diluted $ 0.34 $ 0.28 $ 1.06 $ 1.13 Antidilutive options excluded from calculation 1,815 2,314 1,815 2,314

Other comprehensive income (Tab

Other comprehensive income (Tables)	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Reclassification adjustments	Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net income was as follows: Accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affected line item in consolidated statements of comprehensive income Quarter Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Amortization of postretirement benefit plan items: Prior service credit $ 355 $ 355 $ 1,066 $ 1,066 Other income Net actuarial loss (225) (407) (674) (1,221) Other income Total amortization 130 (52) 392 (155) Other income Tax expense (79) (30) (237) (93) Income tax provision Amortization of postretirement benefit plan items, net of tax 51 (82) 155 (248) Net income Realized loss on debt securities — — (8) — Revenue Tax benefit — — 2 — Income tax provision Realized loss on debt securities, net of tax — — (6) — Net income Realized gain (loss) on cash flow hedges 53 (371) (412) (1,035) Interest expense Tax (expense) benefit (15) 97 109 271 Income tax provision Realized gain (loss) on cash flow hedges, net of tax 38 (274) (303) (764) Net income Currency translation adjustment (1) — — (5,550) — Gain on sale of businesses and facility Total reclassifications, net of tax $ 89 $ (356) $ (5,704) $ (1,012) (1) Relates to the sale of our Australian web hosting business during the quarter ended June 30, 2022. Further information can be found in Note 6.
Accumulated other comprehensive loss	Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss during the nine months ended September 30, 2022 were as follows: (in thousands) Postretirement benefit plans Net unrealized loss on debt securities (1) Net unrealized loss on cash flow hedges (2) Currency translation adjustment Accumulated other comprehensive loss Balance, December 31, 2021 $ (15,431) $ (344) $ (2,261) $ (13,456) $ (31,492) Other comprehensive (loss) income before reclassifications — (566) 4,712 (6,006) (1,860) Amounts reclassified from accumulated other comprehensive loss (155) 6 303 5,550 5,704 Net current-period other comprehensive (loss) income (155) (560) 5,015 (456) 3,844 Balance, September 30, 2022 $ (15,586) $ (904) $ 2,754 $ (13,912) $ (27,648) (1) Other comprehensive loss before reclassifications is net of an income tax benefit of $197. (2) Other comprehensive income before reclassifications is net of income tax expense of $1,701.

Acquisition and divestitures (T

Acquisition and divestitures (Tables)	9 Months Ended
	Sep. 30, 2022
Impact of revision on unaudited pro forma financial information	The corrections to adjusted pro forma net income (loss) attributable to Deluxe from the amounts previously reported were as follows: (in thousands) Increase (decrease) in pro forma net income attributable to Deluxe Quarter ended June 30, 2021 $ 7,636 Six Months ended June 30, 2021 5,911 Quarter ended September 30, 2021 2,231 Nine Months ended September 30, 2021 8,142 Year Ended December 31, 2021 10,138 Year Ended December 31, 2020 (9,082)
Unaudited pro forma financial information	The following unaudited pro forma financial information summarizes our consolidated results of operations as though the First American acquisition occurred on January 1, 2020: As Revised (in thousands) Quarter Ended Quarter Ended Six Months Ended Quarter Ended Sept. 30, 2021 (1) Nine Months Ended Year Ended December 31, 2021 Year Ended December 31, 2020 Revenue $ 518,104 $ 535,493 $ 1,053,597 $ 532,141 $ 1,585,738 $ 2,156,313 $ 2,079,103 Net income (loss) attributable to Deluxe 19,044 24,579 43,623 14,695 58,318 74,843 (54,489) (1) Only net income attributable to Deluxe was revised for the quarter ended September 30, 2021.
First American Payment Systems, L.P. [Member]
Purchase price allocation and results of acquired business	The final allocation of the First American purchase price to the assets acquired and liabilities assumed was as follows: (in thousands) Purchase price allocation Trade accounts receivable $ 27,296 Other current assets 8,533 Property, plant and equipment 9,873 Operating lease assets 24,396 Intangible assets: Customer relationships 127,000 Partner relationships 72,000 Technology-based intangibles 65,000 Trade names 21,000 Internal-use software 6,111 Total intangible assets 291,111 Goodwill 728,516 Other-non-current assets 350 Accounts payable (18,475) Funds held for customers (9,428) Accrued liabilities (23,460) Operating lease liabilities, non-current (21,316) Deferred income taxes (54,506) Other non-current liabilities (4,376) Payments for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired of $15,841 $ 958,514 Further information regarding the acquired First American intangibles can be found under the caption "Note 3: Supplemental Balance Sheet and Cash Flow Information" and "Note 8: Fair Value Measurements," both of which are included in the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K. First American acquisition transaction costs are included in selling, general and administrative (SG&A) expense in the consolidated statements of comprehensive income and were $208 for the quarter ended September 30, 2021 and $18,816 for the nine months ended September 30, 2021. Operating results for First American were as follows for the nine months ended September 30: Nine Months Ended (in thousands) 2022 2021 Revenue $ 259,724 $ 109,828 Net income attributable to Deluxe 2,902 824

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair value of financial instruments	Information regarding the fair values of our financial instruments was as follows: Fair value measurements using September 30, 2022 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: Available-for-sale debt securities Funds held for customers $ 7,941 $ 7,941 $ — $ 7,941 $ — Derivative assets (Note 7) Other current and non-current assets 3,797 3,797 — 3,797 — Amortized cost: Cash Cash and cash equivalents 45,535 45,535 45,535 — — Cash Funds held for customers 147,614 147,614 147,614 — — Cash Other non-current assets 2,742 2,742 2,742 — — Loans and notes receivable from distributors Other current and non-current assets 14,517 13,090 — — 13,090 Long-term debt Current portion of long-term debt and long-term debt 1,670,964 1,597,546 — 1,597,546 — Fair value measurements using December 31, 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: Available-for-sale debt securities Funds held for customers $ 13,307 $ 13,307 $ — $ 13,307 $ — Derivative liability (Note 7) Other non-current liabilities (3,028) (3,028) — (3,028) — Amortized cost: Cash Cash and cash equivalents 41,231 41,231 41,231 — — Cash Funds held for customers 241,488 241,488 241,488 — — Cash Other non-current assets 2,772 2,772 2,772 — — Loans and notes receivable from distributors Other current and non-current assets 21,518 22,344 — — 22,344 Long-term debt Current portion of long-term debt and long-term debt 1,682,949 1,728,515 — 1,728,515 —

Restructuring and integration_2

Restructuring and integration expense (Tables)	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring and integration expense	Restructuring and integration expense is reflected on the consolidated statements of comprehensive income as follows: Quarter Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Total cost of revenue $ 131 $ 1,559 $ 216 $ 3,073 Operating expenses 15,188 12,335 46,614 38,012 Restructuring and integration expense $ 15,319 $ 13,894 $ 46,830 $ 41,085 Restructuring and integration expense for each period was comprised of the following: Quarter Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 External consulting fees $ 7,670 $ 6,432 $ 24,670 $ 19,355 Internal labor 1,877 1,756 6,177 6,276 Employee severance benefits 3,826 1,293 8,232 3,167 Other 1,946 4,413 7,751 12,287 Restructuring and integration expense $ 15,319 $ 13,894 $ 46,830 $ 41,085
Changes in restructuring and integration accruals	Changes in our restructuring and integration accruals were as follows: (in thousands) Employee severance benefits Balance, December 31, 2021 $ 5,672 Charges 8,928 Reversals (696) Payments (7,502) Balance, September 30, 2022 $ 6,402

Income tax provision (Tables)

Income tax provision (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation	The effective tax rate on pretax income reconciles to the U.S. federal statutory tax rate as follows: Nine Months Year Ended Income tax at federal statutory rate 21.0 % 21.0 % Change in valuation allowance 10.2 % 0.1 % Tax impact of share-based compensation 4.0 % 0.9 % State income tax expense, net of federal income tax benefit 2.8 % 2.4 % Non-deductible executive compensation 2.2 % 1.7 % Foreign tax rate differences 1.5 % 1.7 % Tax on repatriation of foreign earnings 1.5 % 4.9 % Non-deductible acquisition costs 0.1 % 1.5 % Sale of business (Note 6) (12.5 %) — Research and development tax credit (1.0 %) (0.9 %) Other (0.2 %) (0.2 %) Effective tax rate 29.6 % 33.1 %

Postretirement benefits (Tables

Postretirement benefits (Tables)	9 Months Ended
	Sep. 30, 2022
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 and consisted of the following components: Quarter Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Interest cost $ 280 $ 242 $ 841 $ 726 Expected return on plan assets (1,866) (1,875) (5,596) (5,623) Amortization of prior service credit (355) (355) (1,066) (1,066) Amortization of net actuarial losses 225 407 674 1,221 Net periodic benefit income $ (1,716) $ (1,581) $ (5,147) $ (4,742)

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt outstanding	Debt outstanding was comprised of the following: (in thousands) September 30, December 31, Senior, secured term loan facility $ 1,001,813 $ 1,072,125 Senior, unsecured notes 475,000 500,000 Amounts drawn on senior, secured revolving credit facility 210,000 130,000 Total principal amount 1,686,813 1,702,125 Less: unamortized discount and debt issuance costs (15,849) (19,176) Total debt, net of discount and debt issuance costs 1,670,964 1,682,949 Less: current portion of long-term debt, net of debt issuance costs (64,506) (57,197) Long-term debt $ 1,606,458 $ 1,625,752
Maturities of long-term debt	Maturities of long-term debt were as follows as of September 30, 2022: (in thousands) Debt obligations Remainder of 2022 $ 14,438 2023 72,188 2024 86,625 2025 101,062 2026 937,500 Thereafter 475,000 Total principal amount $ 1,686,813
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, 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 Year Ended Daily average amount outstanding $ 1,477,841 $ 1,109,819 Weighted-average interest rate 4.00 % 2.43 % As of September 30, 2022, amounts available for borrowing under our revolving credit facility were as follows: (in thousands) Available borrowings Revolving credit facility commitment $ 500,000 Amounts drawn on revolving credit facility (210,000) Outstanding letters of credit (1) (7,823) Net available for borrowing as of September 30, 2022 $ 282,177 (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.

Business segment information (T

Business segment information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Business segment information	Segment information for the quarters and nine months ended September 30, 2022 and 2021 was as follows: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Payments: Revenue $ 169,787 $ 160,268 $ 507,149 $ 343,045 Adjusted EBITDA 36,184 31,598 107,605 71,125 Cloud Solutions: Revenue 66,739 69,497 204,824 199,784 Adjusted EBITDA 16,034 19,036 50,869 55,047 Promotional Solutions: Revenue 136,081 130,330 408,600 389,825 Adjusted EBITDA 18,255 17,673 49,795 56,804 Checks: Revenue 182,431 172,046 553,433 518,968 Adjusted EBITDA 80,478 77,254 245,838 240,979 Total segment: Revenue $ 555,038 $ 532,141 $ 1,674,006 $ 1,451,622 Adjusted EBITDA 150,951 145,561 454,107 423,955
Reconciliation of adjusted EBITDA to pretax income	The following table presents a reconciliation of total segment adjusted EBITDA to consolidated income before income taxes: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Total segment adjusted EBITDA $ 150,951 $ 145,561 $ 454,107 $ 423,955 Corporate operations (46,359) (42,832) (148,159) (133,259) Depreciation and amortization expense (42,304) (41,906) (128,948) (102,929) Interest expense (23,799) (21,494) (65,471) (35,548) Net income attributable to non-controlling interest 35 37 106 99 Restructuring, integration and other costs (15,319) (13,894) (46,830) (41,085) Share-based compensation expense (5,728) (7,434) (18,766) (21,801) Acquisition transaction costs (51) (208) (112) (18,816) Certain legal-related benefit (expense) 1,659 (638) 814 (941) Gain on sale of businesses and facility 1,804 — 19,331 — Income before income taxes $ 20,889 $ 17,192 $ 66,072 $ 69,675
Revenue disaggregated by product and service offerings	The following tables present revenue disaggregated by our product and service offerings: Quarter Ended September 30, 2022 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 182,431 $ 182,431 Merchant services and other payment solutions 108,255 — — — 108,255 Forms and other products — — 71,797 — 71,797 Marketing and promotional solutions — — 64,284 — 64,284 Treasury management solutions 61,532 — — — 61,532 Data-driven marketing solutions — 46,993 — — 46,993 Web and hosted solutions — 19,746 — — 19,746 Total revenue $ 169,787 $ 66,739 $ 136,081 $ 182,431 $ 555,038 Quarter Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 172,046 $ 172,046 Merchant services and other payment 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 Nine Months Ended September 30, 2022 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 553,433 $ 553,433 Merchant services and other payment solutions 328,144 — — — 328,144 Forms and other products — — 211,517 — 211,517 Marketing and promotional solutions — — 197,083 — 197,083 Treasury management solutions 179,005 — — — 179,005 Data-driven marketing solutions — 134,307 — — 134,307 Web and hosted solutions — 70,517 — — 70,517 Total revenue $ 507,149 $ 204,824 $ 408,600 $ 553,433 $ 1,674,006 Nine Months Ended September 30, 2021 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated Checks $ — $ — $ — $ 518,968 $ 518,968 Merchant services and other payment 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
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, 2022 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 159,160 $ 64,111 $ 129,697 $ 175,481 $ 528,449 Foreign, primarily Canada 10,627 2,628 6,384 6,950 26,589 Total revenue $ 169,787 $ 66,739 $ 136,081 $ 182,431 $ 555,038 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 Nine Months Ended September 30, 2022 (in thousands) Payments Cloud Solutions Promotional Solutions Checks Consolidated United States $ 475,368 $ 188,494 $ 389,824 $ 531,260 $ 1,584,946 Foreign, primarily Canada and Australia 31,781 16,330 18,776 22,173 89,060 Total revenue $ 507,149 $ 204,824 $ 408,600 $ 553,433 $ 1,674,006 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

Supplemental balance sheet an_3

Supplemental balance sheet and cash flow information (trade accounts receivable, allowance for credit losses) (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Trade accounts receivable
Trade accounts receivable - gross		$ 198,685		$ 202,077
Allowance for credit losses		(3,534)		(4,130)
Trade accounts receivable - net	[1]	195,151		197,947
Unbilled receivables		51,941		$ 47,420
Changes in allowance for credit losses
Balance, beginning of year		4,130	$ 6,428
Bad debt expense (benefit)		2,410	(412)
Write-offs and other		(3,006)	(2,555)
Balance, end of period		$ 3,534	$ 3,461
[1]Includes unbilled receivables of $51,941 as of September 30, 2022 and $47,420 as of December 31, 2021.

Supplemental balance sheet an_4

Supplemental balance sheet and cash flow information (inventories and supplies) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Inventories and supplies
Raw materials	$ 7,675		$ 5,316
Semi-finished goods	7,051		6,708
Finished goods	29,550		21,995
Supplies	6,496		6,041
Reserves for excess and obsolete items	(5,523)	$ (5,496)	(5,132)
Inventories and supplies	45,249		$ 34,928
Changes in reserves for excess and obsolete items
Balance, beginning of year	5,132	11,748
Balance, end of period	5,523	5,496
Reserves for excess and obsolete items
Changes in reserves for excess and obsolete items
Amounts charged to expense	2,552	2,884
Write-offs and other	$ (2,161)	$ (9,136)

Supplemental balance sheet an_5

Supplemental balance sheet and cash flow information (available-for-sale debt securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2022		Dec. 31, 2021
Available-for-sale debt securities [Line Items]
Cost	$ 8,975		$ 13,681
Gross unrealized gains	0		0
Gross unrealized losses	(1,034)		(374)
Fair value	7,941		13,307
Expected maturities of available-for-sale debt securities
Due in one year or less	3,415
Due in two to five years	2,819
Due in six to ten years	1,707
Fair value	7,941		13,307
Funds held for customers [Member]
Available-for-sale debt securities [Line Items]
Cost	8,975	[1]	13,681	[2]
Gross unrealized gains	0	[1]	0	[2]
Gross unrealized losses	(1,034)	[1]	(374)	[2]
Fair value	7,941	[1]	13,307	[2]
Cash	147,614		241,488
Expected maturities of available-for-sale debt securities
Fair value	7,941	[1]	13,307	[2]
Funds held for customers [Member] | Canadian and provincial government securities [Member]
Available-for-sale debt securities [Line Items]
Cost	8,975		9,724
Gross unrealized gains	0		0
Gross unrealized losses	(1,034)		(374)
Fair value	7,941		9,350
Expected maturities of available-for-sale debt securities
Fair value	$ 7,941		9,350
Funds held for customers [Member] | Canadian guaranteed investment certificates [Member]
Available-for-sale debt securities [Line Items]
Cost			3,957
Gross unrealized gains			0
Gross unrealized losses			0
Fair value			3,957
Expected maturities of available-for-sale debt securities
Fair value			$ 3,957
[1]Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2022, also included cash of $147,614.[2]Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2021, also included cash of $241,488.

Supplemental balance sheet an_6

Supplemental balance sheet and cash flow information (revenue in excess of billings) (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Revenue in excess of billings
Conditional right to receive consideration		$ 24,147	$ 22,780
Unconditional right to receive consideration	[1]	14,203	7,613
Revenue in excess of billings		$ 38,350	$ 30,393
[1]Represents revenues that are earned but not currently billable under the related contract terms.

Supplemental balance sheet an_7

Supplemental balance sheet and cash flow information (intangibles) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Amortizable intangibles [Line Items]
Gross carrying amount	$ 1,265,849		$ 1,265,849		$ 1,209,488
Accumulated amortization	(789,750)		(789,750)		(698,764)
Net carrying amount	476,099		476,099		510,724
Acquired intangibles			$ 76,004
Acquired intangibles, weighted-average amortization period (in years)			4 years
Amortization of intangibles	35,855	$ 36,570	$ 110,353	$ 88,393
Estimated future amortization expense
Remainder of 2022	37,168		37,168
2023	120,753		120,753
2024	81,627		81,627
2025	48,639		48,639
2026	45,553		45,553
Internal-use software [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	510,141		510,141		456,133
Accumulated amortization	(381,456)		(381,456)		(342,656)
Net carrying amount	128,685		128,685		113,477
Acquired intangibles			$ 55,776
Acquired intangibles, weighted-average amortization period (in years)			3 years
Customer lists/relationships [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	501,411		$ 501,411		493,495
Accumulated amortization	(299,318)		(299,318)		(255,178)
Net carrying amount	202,093		202,093		238,317
Acquired intangibles			$ 18,924
Acquired intangibles, weighted-average amortization period (in years)			6 years
Technology-based intangibles [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	98,813		$ 98,813		98,813
Accumulated amortization	(44,646)		(44,646)		(38,553)
Net carrying amount	54,167		54,167		60,260
Partner relationships [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	74,399		74,399		73,095
Accumulated amortization	(7,285)		(7,285)		(2,990)
Net carrying amount	67,114		67,114		70,105
Acquired intangibles			$ 1,304
Acquired intangibles, weighted-average amortization period (in years)			2 years
Trade names [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	44,185		$ 44,185		51,052
Accumulated amortization	(25,985)		(25,985)		(31,277)
Net carrying amount	18,200		18,200		19,775
Software to be sold [Member]
Amortizable intangibles [Line Items]
Gross carrying amount	36,900		36,900		36,900
Accumulated amortization	(31,060)		(31,060)		(28,110)
Net carrying amount	$ 5,840		$ 5,840		$ 8,790

Supplemental balance sheet an_8

Supplemental balance sheet and cash flow information (goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2022
Goodwill [Roll Forward]
Goodwill, gross, beginning of year		$ 2,016,008
Accumulated impairment charges, beginning of year		(585,867)
Goodwill, net of accumulated impairment charges, beginning of year		1,430,141
Measurement-period adjustment (Note 6)	$ 1,343
Currency translation adjustment		(126)
Goodwill, gross, end of period		2,017,225
Accumulated impairment charges, end of period		(585,867)
Goodwill, net of accumulated impairment charges, end of period		1,431,358
Reportable business segments [Member] | Payments [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning of year		895,338
Accumulated impairment charges, beginning of year		0
Goodwill, net of accumulated impairment charges, beginning of year		895,338
Measurement-period adjustment (Note 6)	$ 1,343
Goodwill, gross, end of period		896,681
Accumulated impairment charges, end of period		0
Goodwill, net of accumulated impairment charges, end of period		896,681
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		252,874
Accumulated impairment charges, beginning of year		(193,699)
Goodwill, net of accumulated impairment charges, beginning of year		59,175
Currency translation adjustment		(126)
Goodwill, gross, end of period		252,748
Accumulated impairment charges, end of period		(193,699)
Goodwill, net of accumulated impairment charges, end of period		59,049
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		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Other non-current assets
Postretirement benefit plan asset		$ 92,802		$ 87,019
Cloud computing arrangements implementation costs		70,519		63,806
Prepaid product discounts		48,591	$ 51,270	56,527	$ 50,602
Deferred contract acquisition costs	[1]	21,671		17,975
Loans and notes receivable from distributors, net of allowance for credit losses	[2]	13,525		20,201
Other		29,102		33,935
Other non-current assets		276,210		279,463
Amortization of deferred contract acquisition costs		5,872	3,366
Loans and notes receivable, current		992		$ 1,317
Loans and notes receivable from distributors [Member]
Loans and notes receivable from distributors, allowance for credit losses [Line Items]
Balance, beginning of year		2,830	3,995
Bad debt expense (benefit)		1,221	(1,158)
Other		(402)	0
Balance, end of period		3,649	$ 2,837
Write-offs		0
Recoveries		0
Loans and notes receivable from distributors, credit quality information
2020		1,172
2019		3,042
2018		4,247
2017		8,720
Prior		985
Total		18,166
Loans and notes receivable from distributors [Member] | 1-2 internal grade member [Member]
Loans and notes receivable from distributors, credit quality information
2020		1,172
2019		443
2018		4,247
2017		8,720
Prior		985
Total		15,567
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
[1]Amortization of deferred contract acquisition costs was $5,872 for the nine months ended September 30, 2022 and $3,366 for the nine months ended September 30, 2021.[2]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 $992 as of September 30, 2022 and $1,317 as of December 31, 2021.

Supplemental balance sheet a_10

Supplemental balance sheet and cash flow information (other) (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Prepaid product discounts [Roll Forward]
Balance, beginning of year		$ 56,527	$ 50,602
Additions	[1]	18,721	24,284
Amortization		(26,258)	(23,425)
Other		(399)	(191)
Balance, end of period		48,591	51,270
Prepaid product discount payments		23,920	27,049
Accrued liabilities
Employee cash bonuses, including sales incentives		38,780		$ 45,006
Deferred revenue	[2]	36,193		52,645
Wages and payroll liabilities, including vacation		34,679		24,951
Interest		16,021		4,597
Operating lease liabilities		12,672		14,852
Customer rebates		12,140		9,036
Prepaid product discounts		6,568		11,866
Other		60,442		53,879
Accrued liabilities		217,495		216,832
Deferred revenue recognized		41,222
Supplemental cash flow information
Cash and cash equivalents		45,535	121,064	41,231
Non-current restricted cash included in other non-current assets		2,742	2,860	2,772
Total cash, cash equivalents, restricted cash and restricted cash equivalents		195,891	253,104	$ 285,491	$ 229,409
Funds held for customers [Member]
Supplemental cash flow information
Restricted cash and restricted cash equivalents included in funds held for customers		$ 147,614	$ 129,180
[1]Prepaid product discounts are generally accrued upon contract execution. Cash payments for prepaid product discounts were $23,920 for the nine months ended September 30, 2022 and $27,049 for the nine months ended September 30, 2021.[2]$41,222 of the December 31, 2021 amount was recognized as revenue during the nine months ended September 30, 2022.

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings per share - basic:
Net income	$ 14,760	$ 12,501	$ 46,536	$ 48,955
Net income attributable to non-controlling interest	(35)	(37)	(106)	(99)
Net income attributable to Deluxe	14,725	12,464	46,430	48,856
Income allocated to participating securities	(10)	(9)	(33)	(36)
Income attributable to Deluxe available to common shareholders	$ 14,715	$ 12,455	$ 46,397	$ 48,820
Weighted-average shares outstanding	43,116	42,574	42,974	42,294
Earnings per share - basic	$ 0.34	$ 0.29	$ 1.08	$ 1.15
Earnings per share - diluted:
Net income	$ 14,760	$ 12,501	$ 46,536	$ 48,955
Net income attributable to non-controlling interest	(35)	(37)	(106)	(99)
Net income attributable to Deluxe	14,725	12,464	46,430	48,856
Income allocated to participating securities	0	(9)	(22)	(27)
Re-measurement of share-based awards classified as liabilities	(162)	(329)	(507)	(329)
Income attributable to Deluxe available to common shareholders	$ 14,563	$ 12,126	$ 45,901	$ 48,500
Weighted-average shares outstanding	43,116	42,574	42,974	42,294
Dilutive impact of potential common shares	234	457	310	453
Weighted-average shares and potential common shares outstanding	43,350	43,031	43,284	42,747
Earnings per share - diluted	$ 0.34	$ 0.28	$ 1.06	$ 1.13
Antidilutive options excluded from calculation	1,815	2,314	1,815	2,314

Other comprehensive income (rec

Other comprehensive income (reclassification adjustments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022		Sep. 30, 2021
Reclassifications from accumulated other comprehensive loss
Prior service credit	$ 355	$ 355	$ 1,066		$ 1,066
Net actuarial loss	(225)	(407)	(674)		(1,221)
Total amortization	130	(52)	392		(155)
Tax expense	(79)	(30)	(237)		(93)
Amortization of postretirement benefit plan items, net of tax	51	(82)	155		(248)
Realized loss on debt securities	0	0	(8)		0
Tax benefit	0	0	2		0
Realized loss on debt securities, net of tax	0	0	(6)		0
Realized loss on interest rate swap	53	(371)	(412)		(1,035)
Tax benefit	(15)	97	109		271
Realized loss on interest rate swap, net of tax	38	(274)	(303)		(764)
Foreign currency translation adjustment	0	0	(5,550)	[1]	0
Total reclassifications, net of tax	$ 89	$ (356)	$ (5,704)		$ (1,012)
[1]Relates to the sale of our Australian web hosting business during the quarter ended June 30, 2022. Further information can be found in Note 6.

Other comprehensive income (acc

Other comprehensive income (accumulated other comprehensive loss) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Postretirement benefit plans [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2021	$ (15,431)
Other comprehensive (loss) income before reclassifications	0
Amounts reclassified from accumulated other comprehensive loss	(155)
Net current-period other comprehensive (loss) income	(155)
Balance, September 30, 2022	(15,586)
Net unrealized loss on debt securities [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2021	(344)
Other comprehensive (loss) income before reclassifications	(566)	[1]
Amounts reclassified from accumulated other comprehensive loss	6
Net current-period other comprehensive (loss) income	(560)
Balance, September 30, 2022	(904)
Unrealized loss on debt securities arising during the period, tax benefit	197
Net unrealized loss on cash flow hedge [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2021	(2,261)
Other comprehensive (loss) income before reclassifications	4,712	[2]
Amounts reclassified from accumulated other comprehensive loss	303
Net current-period other comprehensive (loss) income	5,015
Balance, September 30, 2022	2,754
Unrealized gain on cash flow hedge arising during the period, tax expense	1,701
Currency translation adjustment [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2021	(13,456)
Other comprehensive (loss) income before reclassifications	(6,006)
Amounts reclassified from accumulated other comprehensive loss	5,550
Net current-period other comprehensive (loss) income	(456)
Balance, September 30, 2022	(13,912)
Accumulated other comprehensive loss [Member]
Accumulated other comprehensive loss [Line Items]
Balance, December 31, 2021	(31,492)
Other comprehensive (loss) income before reclassifications	(1,860)
Amounts reclassified from accumulated other comprehensive loss	5,704
Net current-period other comprehensive (loss) income	3,844
Balance, September 30, 2022	$ (27,648)
[1]Other comprehensive loss before reclassifications is net of an income tax benefit of $197.[2]Other comprehensive income before reclassifications is net of income tax expense of $1,701.

Acquisition and divestitures (D

Acquisition and divestitures (Details) - USD ($) $ in Thousands		3 Months Ended						6 Months Ended	9 Months Ended		12 Months Ended
	Jun. 01, 2021	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021		Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Acquisition and divestitures [Line Items]
Measurement-period adjustment, goodwill			$ 1,343
Purchase accounting adjustment, deferred income tax liabilities			1,343
Acquired intangibles									$ 76,004
Payment for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired									0	$ 956,717
Acquisition transaction costs		$ 51		$ 208					112	18,816
Total revenue		555,038		532,141					1,674,006	1,451,622
Net income (loss) attributable to Deluxe		14,725		12,464					46,430	48,856
Restructuring and integration expense		15,319		13,894					46,830	41,085
Pro forma revenue				532,141	[1]	$ 535,493	$ 518,104	$ 1,053,597		1,585,738	$ 2,156,313	$ 2,079,103
Pro forma net income (loss) attributable to Deluxe				14,695	[1]	24,579	$ 19,044	43,623		58,318	74,843	(54,489)
Proceeds from sale of businesses and facility									25,248	2,648
Gain on sale of businesses and facility		1,804		0					19,331	0
Customer lists/relationships [Member]
Acquisition and divestitures [Line Items]
Acquired intangibles									18,924
Partner relationships [Member]
Acquisition and divestitures [Line Items]
Acquired intangibles									1,304
Internal-use software [Member]
Acquisition and divestitures [Line Items]
Acquired intangibles									55,776
Australian web hosting business [Member]
Acquisition and divestitures [Line Items]
Proceeds from sale of businesses and facility			17,620
Gain on sale of businesses and facility			15,166
Lancaster, California facility [Member]
Acquisition and divestitures [Line Items]
Proceeds from sale of businesses and facility			6,929
Gain on sale of businesses and facility			$ 2,361
Reportable business segments [Member]
Acquisition and divestitures [Line Items]
Total revenue		555,038		532,141					1,674,006	1,451,622
Reportable business segments [Member] | Cloud Solutions [Member]
Acquisition and divestitures [Line Items]
Total revenue		66,739		69,497					204,824	199,784
Reportable business segments [Member] | Cloud Solutions [Member] | Australian web hosting business [Member]
Acquisition and divestitures [Line Items]
Total revenue											23,766
Reportable business segments [Member] | Promotional Solutions [Member]
Acquisition and divestitures [Line Items]
Total revenue		$ 136,081		130,330					408,600	389,825
Reportable business segments [Member] | Promotional Solutions [Member] | Promotional Solutions business exits [Member]
Acquisition and divestitures [Line Items]
Total revenue											29,000
Adjustment [Member]
Acquisition and divestitures [Line Items]
Pro forma revenue						(27,595)		(27,595)		(27,595)	(26,335)	(3,027)
Pro forma net income (loss) attributable to Deluxe				$ 2,231		$ 7,636		$ 5,911		8,142	10,138	$ (9,082)
First American Payment Systems, L.P. [Member]
Acquisition and divestitures [Line Items]
Accounts receivable	$ 27,296
Other current assets	8,533
Property, plant and equipment	9,873
Operating lease assets	24,396
Acquired intangibles	291,111
Goodwill	728,516
Other non-current assets	350
Accounts payable	(18,475)
Funds held for customers	(9,428)
Accrued liabilities	(23,460)
Operating lease liabilities, non-current	(21,316)
Deferred income taxes	(54,506)
Other non-current liabilities	(4,376)
Payment for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired											$ 958,514
Cash, cash equivalents, restricted cash and restricted cash equivalents acquired	15,841
Total revenue									259,724	109,828
Net income (loss) attributable to Deluxe									2,902	$ 824
Restructuring and integration expense									$ 5,209
First American Payment Systems, L.P. [Member] | Customer lists/relationships [Member]
Acquisition and divestitures [Line Items]
Acquired intangibles	127,000
First American Payment Systems, L.P. [Member] | Partner relationships [Member]
Acquisition and divestitures [Line Items]
Acquired intangibles	72,000
First American Payment Systems, L.P. [Member] | Technology-based intangibles [Member]
Acquisition and divestitures [Line Items]
Acquired intangibles	65,000
First American Payment Systems, L.P. [Member] | Trade names [Member]
Acquisition and divestitures [Line Items]
Acquired intangibles	21,000
First American Payment Systems, L.P. [Member] | Internal-use software [Member]
Acquisition and divestitures [Line Items]
Acquired intangibles	$ 6,111
[1]Only net income attributable to Deluxe was revised for the quarter ended September 30, 2021.

Derivative financial instrume_2

Derivative financial instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 20, 2022	Dec. 31, 2021	Jul. 19, 2019
Derivative [Line Items]
Fair value, other current assets	$ 2,071
Derivative liability (Note 7)			$ (3,028)
Fair value, other non-current assets	1,726
Interest rate swap [Member]
Derivative [Line Items]
Notional amount	$ 500,000	$ 300,000		$ 200,000
Interest rate		3.895%		1.798%

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022		Jul. 31, 2022	Dec. 31, 2021		Sep. 30, 2021
Fair value measurements [Line Items]
Available-for-sale debt securities (funds held for customers)	$ 7,941			$ 13,307
Derivative assets (Note 7)	3,797
Derivative liability (Note 7)				(3,028)
Cash, carrying value	2,742			2,772		$ 2,860
Cash, fair value	2,742			2,772
Recurring fair value measurements [Member]
Fair value measurements [Line Items]
Derivative assets (Note 7)	3,797
Derivative liability (Note 7)				(3,028)
Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements [Line Items]
Cash, fair value	2,742			2,772
Significant other observable inputs (Level 2) [Member] | Recurring fair value measurements [Member]
Fair value measurements [Line Items]
Derivative assets (Note 7)	3,797
Derivative liability (Note 7)				(3,028)
Funds held for customers [Member]
Fair value measurements [Line Items]
Available-for-sale debt securities (funds held for customers)	7,941	[1]		13,307	[2]
Cash, carrying value	147,614			241,488
Cash, fair value	$ 147,614			241,488
Funds held for customers [Member] | Canadian guaranteed investment certificates [Member]
Fair value measurements [Line Items]
Maturity period, debt securities	2 years
Available-for-sale debt securities (funds held for customers)				3,957
Funds held for customers [Member] | Foreign debt securities [Member]
Fair value measurements [Line Items]
Available-for-sale debt securities (funds held for customers)	$ 7,941			13,307
Funds held for customers [Member] | Foreign debt securities [Member] | Recurring fair value measurements [Member]
Fair value measurements [Line Items]
Available-for-sale debt securities (funds held for customers)	7,941			13,307
Funds held for customers [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements [Line Items]
Cash, fair value	147,614			241,488
Funds held for customers [Member] | Significant other observable inputs (Level 2) [Member] | Foreign debt securities [Member] | Recurring fair value measurements [Member]
Fair value measurements [Line Items]
Available-for-sale debt securities (funds held for customers)	7,941			13,307
Other current and noncurrent assets [Member]
Fair value measurements [Line Items]
Loans and notes receivable from distributors	14,517			21,518
Loans and notes receivable from distributors, fair value	13,090			22,344
Other current and noncurrent assets [Member] | Significant unobservable inputs (Level 3) [Member]
Fair value measurements [Line Items]
Loans and notes receivable from distributors, fair value	13,090			22,344
Cash and cash equivalents [Member]
Fair value measurements [Line Items]
Cash, carrying value	45,535			41,231
Cash, fair value	45,535			41,231
Cash and cash equivalents [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Fair value measurements [Line Items]
Cash, fair value	45,535			41,231
Current portion of long-term debt and long-term debt [Member]
Fair value measurements [Line Items]
Long-term debt	1,670,964			1,682,949
Long-term debt, fair value	1,597,546			1,728,515
Current portion of long-term debt and long-term debt [Member] | Significant other observable inputs (Level 2) [Member]
Fair value measurements [Line Items]
Long-term debt, fair value	$ 1,597,546			$ 1,728,515
Cloud Data Analytics [Member]
Fair value measurements [Line Items]
Amount of fair value in excess of carrying value			$ 46,000
Percentage of fair value in excess of carrying value			39%
[1]Funds held for customers, as reported on the consolidated balance sheet as of September 30, 2022, also included cash of $147,614.[2]Funds held for customers, as reported on the consolidated balance sheet as of December 31, 2021, also included cash of $241,488.

Restructuring and integration_3

Restructuring and integration expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring and integration expense [Line Items]
Restructuring and integration expense	$ 15,319	$ 13,894	$ 46,830	$ 41,085
Total cost of revenue [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	131	1,559	216	3,073
Operating expenses [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	15,188	12,335	46,614	38,012
External consulting fees [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	7,670	6,432	24,670	19,355
Internal labor [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	1,877	1,756	6,177	6,276
Employee severance benefits [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense			8,928
Restructuring charges, net	3,826	1,293	8,232	3,167
Other [Member]
Restructuring and integration expense [Line Items]
Restructuring and integration expense	$ 1,946	$ 4,413	$ 7,751	$ 12,287

Restructuring and integration_4

Restructuring and integration expense (accruals) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Charges	$ 15,319	$ 13,894	$ 46,830	$ 41,085
Employee severance benefits [Member]
Restructuring Cost and Reserve [Line Items]
Balance, December 31, 2021			5,672
Charges			8,928
Reversals			(696)
Payments			(7,502)
Balance, September 30, 2022	$ 6,402		$ 6,402

Income tax provision (Details)

Income tax provision (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Reconciliation of effective income tax rate
Income tax at federal statutory rate	21%	21%
Change in valuation allowances	10.20%	0.10%
Tax impact of share-based compensation	4%	0.90%
State income tax, net of federal income tax benefit	2.80%	2.40%
Non-deductible executive compensation	2.20%	1.70%
Foreign tax rate differences	1.50%	1.70%
Tax on repatriation of foreign earnings	1.50%	4.90%
Non-deductible acquisition costs	0.10%	1.50%
Sale of business (Note 6)	(12.50%)	0%
Research and development tax credit	(1.00%)	(0.90%)
Other	(0.20%)	(0.20%)
Effective tax rate	29.60%	33.10%

Postretirement benefits (Detail

Postretirement benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net periodic benefit income
Interest cost	$ 280	$ 242	$ 841	$ 726
Expected return on plan assets	(1,866)	(1,875)	(5,596)	(5,623)
Amortization of prior service credit	(355)	(355)	(1,066)	(1,066)
Amortization of net actuarial losses	225	407	674	1,221
Net periodic benefit income	$ (1,716)	$ (1,581)	$ (5,147)	$ (4,742)

Debt (Details)

Debt (Details) $ in Thousands		3 Months Ended														9 Months Ended		12 Months Ended		24 Months Ended
	Jun. 01, 2021 USD ($)	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)	Sep. 30, 2025 USD ($)	Jun. 30, 2025 USD ($)	Mar. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2024	Dec. 31, 2021 USD ($)	Mar. 31, 2026	Sep. 20, 2022 USD ($)	Jul. 19, 2019 USD ($)
Debt instruments [Line Items]
Total principal amount															$ 1,686,813		$ 1,686,813		$ 1,702,125
Less: unamortized discount and debt issuance costs															(15,849)		(15,849)		(19,176)
Total debt, net of discount and debt issuance costs															1,670,964		1,670,964		1,682,949
Less: current portion of long-term debt, net of debt issuance costs															(64,506)		(64,506)		(57,197)
Long-term debt															1,606,458		1,606,458		$ 1,625,752
Maturities of long-term debt
Remainder of 2022															14,438		14,438
2023															72,188		72,188
2024															86,625		86,625
2025															101,062		101,062
2026															937,500		937,500
Thereafter															475,000		475,000
Credit facility
Revolving credit facility, commitment	$ 500,000														$ 500,000		$ 500,000
Weighted-average interest rate at period end															5.30%		5.30%		2.67%
Daily average amount outstanding																	$ 1,477,841		$ 1,109,819
Weighted-average interest rate																	4%		2.43%
Outstanding letters of credit															$ (7,823)		$ (7,823)
Net available for borrowing as of September 30, 2022															282,177		282,177
Forecast [Member]
Credit facility
Maximum consolidated total leverage ratio																4.75		4.50		4.25
Maximum consolidated secured leverage ratio																3.75		3.50		3.50
Minimum interest coverage ratio																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														1,001,813		1,001,813		$ 1,072,125
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	$ 14,438	$ 14,438	$ 14,438
Senior, unsecured notes [Member]
Debt instruments [Line Items]
Total principal amount	$ 500,000														475,000		475,000		500,000
Senior, unsecured notes
Stated interest rate	8%
Proceeds from debt offering, net of discount and debt issuance costs	$ 490,741
Effective interest rate	8.30%
Debt settled															25,000		25,000
Gain on debt retirements															1,726		1,726
Senior, secured revolving credit facility [Member]
Debt instruments [Line Items]
Total principal amount															210,000		210,000		$ 130,000
Swingline sub-facility [Member]
Credit facility
Revolving credit facility, commitment	$ 40,000
Letter of credit sub-facility [Member]
Credit facility
Revolving credit facility, commitment	$ 25,000
Interest rate swap [Member]
Credit facility
Interest rate swap amount															$ 500,000		$ 500,000				$ 300,000	$ 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%

Other commitments and conting_2

Other commitments and contingencies (Details) - USD ($) $ in Thousands	Jul. 29, 2022	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Self-insurance liabilities		$ 10,130	$ 7,401
Litigation settlement, amount awarded	$ 4,900
Litigation settlement, period	7 days

Shareholders' equity (Details)

Shareholders' equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Oct. 24, 2018
Share repurchase program, authorized amount				$ 500,000
Common shares repurchased (in shares)		0	0
Amount remaining under share repurchase authorization		$ 287,452
First American Payment Systems, L.P. [Member]
Common shares issued, shares	294
Proceeds from common shares	$ 13,000

Business segment information (D

Business segment information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($) segment
Business segment information [Line Items]
Number of reportable business segments | segment			4	4
Revenue	$ 555,038	$ 532,141	$ 1,674,006	$ 1,451,622
Depreciation and amortization	(42,304)	(41,906)	(128,948)	(102,929)
Interest expense	(23,799)	(21,494)	(65,471)	(35,548)
Net income attributable to non-controlling interest	35	37	106	99
Restructuring integration and other costs	(15,319)	(13,894)	(46,830)	(41,085)
Share-based compensation expense	(5,728)	(7,434)	(18,766)	(21,801)
Acquisition transaction costs	(51)	(208)	(112)	(18,816)
Certain legal-related benefit (expense)	1,659	(638)	814	(941)
Gain on sale of businesses and facility	1,804	0	19,331	0
Income before income taxes	20,889	17,192	66,072	69,675
Reportable business segments [Member]
Business segment information [Line Items]
Revenue	555,038	532,141	1,674,006	1,451,622
Adjusted EBITDA	150,951	145,561	454,107	423,955
Reportable business segments [Member] | Payments [Member]
Business segment information [Line Items]
Revenue	169,787	160,268	507,149	343,045
Adjusted EBITDA	36,184	31,598	107,605	71,125
Reportable business segments [Member] | Cloud Solutions [Member]
Business segment information [Line Items]
Revenue	66,739	69,497	204,824	199,784
Adjusted EBITDA	16,034	19,036	50,869	55,047
Reportable business segments [Member] | Promotional Solutions [Member]
Business segment information [Line Items]
Revenue	136,081	130,330	408,600	389,825
Adjusted EBITDA	18,255	17,673	49,795	56,804
Reportable business segments [Member] | Checks [Member]
Business segment information [Line Items]
Revenue	182,431	172,046	553,433	518,968
Adjusted EBITDA	80,478	77,254	245,838	240,979
Corporate [Member]
Business segment information [Line Items]
Adjusted EBITDA	$ (46,359)	$ (42,832)	$ (148,159)	$ (133,259)

Business segment information _2

Business segment information (disaggregated revenue information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregated revenue information
Revenue	$ 555,038	$ 532,141	$ 1,674,006	$ 1,451,622
United States [Member]
Disaggregated revenue information
Revenue	528,449	502,282	1,584,946	1,360,623
Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	26,589	29,859	89,060	90,999
Reportable business segments [Member]
Disaggregated revenue information
Revenue	555,038	532,141	1,674,006	1,451,622
Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	169,787	160,268	507,149	343,045
Reportable business segments [Member] | Payments [Member] | United States [Member]
Disaggregated revenue information
Revenue	159,160	150,594	475,368	312,874
Reportable business segments [Member] | Payments [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	10,627	9,674	31,781	30,171
Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	66,739	69,497	204,824	199,784
Reportable business segments [Member] | Cloud Solutions [Member] | United States [Member]
Disaggregated revenue information
Revenue	64,111	60,778	188,494	173,555
Reportable business segments [Member] | Cloud Solutions [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	2,628	8,719	16,330	26,229
Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	136,081	130,330	408,600	389,825
Reportable business segments [Member] | Promotional Solutions [Member] | United States [Member]
Disaggregated revenue information
Revenue	129,697	124,571	389,824	373,042
Reportable business segments [Member] | Promotional Solutions [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	6,384	5,759	18,776	16,783
Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	182,431	172,046	553,433	518,968
Reportable business segments [Member] | Checks [Member] | United States [Member]
Disaggregated revenue information
Revenue	175,481	166,339	531,260	501,152
Reportable business segments [Member] | Checks [Member] | Foreign, primarily Canada and Australia [Member]
Disaggregated revenue information
Revenue	6,950	5,707	22,173	17,816
Checks [Member]
Disaggregated revenue information
Revenue	182,431	172,046	553,433	518,968
Checks [Member] | Reportable business segments [Member] | Checks [Member]
Disaggregated revenue information
Revenue	182,431	172,046	553,433	518,968
Merchant services and other payments solutions [Member]
Disaggregated revenue information
Revenue	108,255	103,014	328,144	170,431
Merchant services and other payments solutions [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	108,255	103,014	328,144	170,431
Forms and other products [Member]
Disaggregated revenue information
Revenue	71,797	68,646	211,517	218,622
Forms and other products [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	71,797	68,646	211,517	218,622
Marketing and promotional solutions [Member]
Disaggregated revenue information
Revenue	64,284	61,684	197,083	171,203
Marketing and promotional solutions [Member] | Reportable business segments [Member] | Promotional Solutions [Member]
Disaggregated revenue information
Revenue	64,284	61,684	197,083	171,203
Treasury management solutions [Member]
Disaggregated revenue information
Revenue	61,532	57,254	179,005	172,614
Treasury management solutions [Member] | Reportable business segments [Member] | Payments [Member]
Disaggregated revenue information
Revenue	61,532	57,254	179,005	172,614
Data-driven marketing solutions [Member]
Disaggregated revenue information
Revenue	46,993	41,956	134,307	115,120
Data-driven marketing solutions [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	46,993	41,956	134,307	115,120
Web and hosted solutions [Member]
Disaggregated revenue information
Revenue	19,746	27,541	70,517	84,664
Web and hosted solutions [Member] | Reportable business segments [Member] | Cloud Solutions [Member]
Disaggregated revenue information
Revenue	$ 19,746	$ 27,541	$ 70,517	$ 84,664