Company: DLX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000027996-25-000189
Chunk: 64

Company: DELUXE CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 64
---
OLIDATED FINANCIAL STATEMENTS(dollars in thousands, except per share amounts)

Intangibles – Intangibles were comprised of the following: September 30, 2025December 31, 2024(in thousands)Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amountInternal-use software$549,266 $(389,246)$160,020 $488,840 $(339,683)$149,157 Customer lists/relationships319,586 (244,551)75,035 311,578 (223,272)88,306 Partner relationships76,300 (22,621)53,679 76,252 (19,632)56,620 Technology-based intangibles65,000 (35,208)29,792 65,000 (29,115)35,885 Other20,300 (5,805)14,495 6,200 (5,115)1,085 Intangibles$1,030,452 $(697,431)$333,021 $947,870 $(616,817)$331,053 Amortization of intangibles was $26,641 for the quarter ended September 30, 2025, $38,626 for the quarter ended September 30, 2024, $84,216 for the nine months ended September 30, 2025, and $111,690 for the nine months ended September 30, 2024. During the quarter ended June 30, 2024, we modified the useful life of a trade name asset that we retired in the fourth quarter of 2024. This change resulted in incremental amortization expense of $6,674 during the quarter ended September 30, 2024 and $13,349 during the nine months ended September 30, 2024.Based on the intangibles in service as of September 30, 2025, estimated future amortization expense is as follows:(in thousands)EstimatedamortizationexpenseRemainder of 2025$27,027 202681,861 202753,680 202832,329 202919,021 In the normal course of business, we acquire and develop internal-use software. During the nine months ended September 30, 2025, we acquired or developed internal-use software of $59,450 with