Company: DLX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000027996-25-000051
Chunk: 109

Company: DELUXE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 109
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)1,085 36,900 (35,195)1,705 Intangibles$947,870 $(616,817)$331,053 $1,166,934 $(775,190)$391,744 During 2024, we retired fully amortized intangible assets that, based on our assessment, were no longer being used. During the second quarter of 2024, we modified the useful life of a trade name asset that we will no longer utilize in 2025. This change resulted in incremental amortization expense of $13,475 during the year ended December 31, 2024.Based on the intangibles in service as of December 31, 2024, estimated amortization expense for each of the next five years ending December 31 is as follows:(in thousands)Estimatedamortizationexpense2025$105,326 202676,977 202748,647 202828,363 202915,721 In the normal course of business, we acquire and develop internal-use software. We also, at times, purchase customer list and partner relationship assets. During 2024, we acquired or developed internal-use software of $79,394 with a weighted-average useful life of three years. During 2023, this amount was $81,349 with a weighted-average useful life of four years, and during 2022, this amount was $74,778 with a weighted-average useful life of three years. Also during 2022, we acquired small business distributor customer list assets of $18,267 with a weighted-average useful life of six years. Other intangibles acquired during these periods were not material.Goodwill – In conjunction with the realignment of our reportable business segments effective January 1, 2024 (Note 17), the goodwill amounts by reportable segment as of December 31, 2022 and 2023 have been recast to reflect our new segment structure. No goodwill impairment charges were recorded in conjunction with the segment realignment.

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DELUXE CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(dollars in thousands, except per share amounts)

Changes in goodwill by reportable business segment and in total were as follows:(in thousands)Merchant ServicesB2B PaymentsData Solutions(1)Print(1)All OtherTotalBalance, December 31, 2022$728,516 $160,431 $40,804 $493,891