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

Company: DELUXE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 10
---
UXE CORPORATIONCONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited)

 Six Months EndedJune 30,(in thousands)20252024Cash flows from operating activities:  Net income$36,469 $31,327 Adjustments to reconcile net income to net cash provided by operating activities:  Depreciation11,181 10,375 Amortization of intangibles57,575 73,064 Amortization of prepaid product discounts16,442 16,354 Employee share-based compensation expense11,631 10,130 Operating lease expense7,310 9,279 Amortization of cloud computing arrangement implementation costs8,228 8,247 Gain on sale of businesses and long-lived assets— (23,982)Deferred income taxes(9,564)(11,887)Other non-cash items, net11,421 21,871 Changes in assets and liabilities:  Trade accounts receivable(6,400)6,682 Inventories and supplies2,969 2,029 Other current and non-current assets(1,871)(27,093)Accounts payable(2,331)8,059 Prepaid product discount payments(16,021)(14,497)Other accrued and non-current liabilities(25,665)(53,736)Net cash provided by operating activities101,374 66,222 Cash flows from investing activities:  Purchases of capital assets(49,260)(48,626)Proceeds from sale of businesses and long-lived assets1,968 4,738 Other3,017 (50)Net cash used by investing activities(44,275)(43,938)Cash flows from financing activities:  Proceeds from issuing long-term debt and swingline loans, net of debt issuance costs254,793 466,937 Payments on long-term debt and swingline loans(289,044)(504,306)Net change in settlement processing obligations(258,372)(328,376)Cash dividends paid to shareholders(28,068)(27,469)Other(5,566)(5,395)Net cash used by financing activities(326,257)(398,609)Effect of exchange rate change on cash, cash equivalents, restricted cash, and restricted cash equivalents1,484 (3,704)Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents(267,674)(380