Company: DLX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000027996-25-000163
Chunk: 62

Company: DELUXE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 62
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 June 30, 2025.Loans and notes receivable from distributors amortized cost basis by origination year(in thousands)202420232020PriorTotalRisk rating:1-2 internal grade$868 $291 $792 $10,397 $12,348 3-4 internal grade— — — — — Loans and notes receivable$868 $291 $792 $10,397 $12,348 Accrued liabilities – Accrued liabilities were comprised of the following:(in thousands)June 30,2025December 31,2024Deferred revenue(1)$27,305 $31,605 Employee cash bonuses, including sales incentives23,860 33,422 Interest13,999 9,493 Customer rebates13,010 10,100 Operating lease liabilities12,027 12,406 Wages and payroll liabilities, including vacation7,147 10,321 Prepaid product discounts6,898 2,583 Restructuring and integration (Note 8)5,010 3,755 Other45,891 35,908 Accrued liabilities$155,147 $149,593  (1) Revenue recognized for amounts included in deferred revenue at the beginning of the period was $20,252 for the six months ended June 30, 2025 and $24,333 for the six months ended June 30, 2024.Supplemental cash flow information – The reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the consolidated statements of cash flows was as follows:(in thousands)June 30,2025June 30,2024Cash and cash equivalents$26,000 $23,077 Restricted cash and restricted cash equivalents included in settlement processing assets12,364 50,937 Non-current restricted cash included in other non-current assets3,115 3,990 Total cash, cash equivalents, restricted cash, and restricted cash equivalents$41,479 $78,004 

11

DELUXE CORPORATIONCONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS(dollars in thousands, except per share amounts)

NOTE 4: EARNINGS PER SHAREThe following table reflects the calculation of basic and diluted earnings per share. During each period, certain share-based awards, as noted below, were excluded from the calculation of diluted earnings per share