Company: DLX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000027996-25-000051
Chunk: 110

Company: DELUXE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 110
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$7,743 $1,431,385 Currency translation adjustment and other(828)— — 33 — (795)Balance, December 31, 2023$727,688 $160,431 $40,804 $493,924 $7,743 $1,430,590 Asset impairment charges (Note 6)— — — — (7,743)(7,743)Currency translation adjustment— — — (110)— (110)Balance, December 31, 2024$727,688 $160,431 $40,804 $493,814 $— $1,422,737 (1) The Data Solutions and Print balances are net of accumulated impairment charges of $145,584 and $193,699, respectively, for each period.Other non-current assets – Other non-current assets were comprised of the following at December 31:(in thousands)20242023Postretirement benefit plan asset (Note 12)$107,524 $94,939 Cloud computing arrangement implementation costs42,470 59,234 Prepaid product discounts(1)32,847 40,376 Deferred contract acquisition costs(2)18,780 21,103 Loans and notes receivable from distributors, net of allowance for credit losses(3)10,789 12,443 Other24,234 23,087 Other non-current assets$236,644 $251,182 (1) Amortization of prepaid product discounts was $35,216 for 2024, $33,370 for 2023, and $34,400 for 2022.(2) Amortization of deferred contract acquisition costs was $12,382 for 2024, $11,061 for 2023, and $8,206 for 2022.(3) 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 $1,753 as of December 31, 2024 and $987 as of December 31, 2023.Changes in the allowance for credit losses related to loans and notes receivable from distributors for the years ended December 31 were as follows:(in thousands)202420232022Balance, beginning of year$928 $1,024 $2,830 Bad debt