Company: DLX
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0000027996-25-000142
Chunk: 10

Company: DELUXE CORP
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1
Chunk 10
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 — (13,535)— — (13,535)Common shares issued, net of tax withholding425 425 (4,825)— — — (4,400)Employee share-based compensation— — 5,549 — — — 5,549 Other comprehensive loss— — — — (116)— (116)Balance, March 31, 202544,740 $44,740 $117,846 $489,709 $(30,032)$201 $622,464 

(in thousands)Common sharesCommon sharespar valueAdditional paid-in capitalRetained earningsAccumulated other comprehensive lossNon-controlling interestTotalBalance, December 31, 202343,743 $43,743 $99,141 $491,238 $(30,028)$522 $604,616 Net income— — — 10,803 — 27 10,830 Cash dividends ($0.30 per share)— — — (13,724)— — (13,724)Common shares issued, net of tax withholding303 303 (2,993)— — — (2,690)Employee share-based compensation— — 5,169 — — — 5,169 Other comprehensive income— — — — 4,191 — 4,191 Balance, March 31, 202444,046 $44,046 $101,317 $488,317 $(25,837)$549 $608,392 

See Condensed Notes to Unaudited Consolidated Financial Statements

5

DELUXE CORPORATIONCONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited)

 Quarter EndedMarch 31,(in thousands)20252024Cash flows from operating activities:  Net income$14,048 $10,830 Adjustments to reconcile net income to net cash provided by operating activities:  Depreciation5,604 6,049 Amortization of intangibles29,675 35,698 Amortization of prepaid product discounts8,268 8,180 Employee share-based compensation expense5,459 5,121 Operating lease expense3,674 5,367 Amortization of cloud computing arrangement implementation costs4,211 4,119 Gain