Company: DLX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000027996-25-000163
Chunk: 23

Company: DELUXE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 23
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 the legislation on our financial statements, our preliminary evaluation indicates that the impact to our income tax provision and deferred tax assets and liabilities will not be material to the consolidated financial statements.

NOTE 10: POSTRETIREMENT BENEFITSWe have historically offered certain health care benefits to a large number of our eligible retired U.S. employees. In addition to our retiree health care plan, we also maintain an inactive U.S. supplemental executive retirement plan. Further  

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DELUXE CORPORATIONCONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS(dollars in thousands, except per share amounts)

information regarding our postretirement benefit plans can be found under the caption “Note 12: Postretirement Benefits” in the Notes to Consolidated Financial Statements located in the 2024 Form 10-K.Postretirement benefit income is included in other income, net on the consolidated statements of comprehensive income and consisted of the following components:Quarter EndedJune 30,Six Months EndedJune 30,(in thousands)2025202420252024Interest cost$397 $435 $794 $871 Expected return on plan assets(2,137)(2,099)(4,273)(4,197)Amortization of prior service credit(355)(355)(711)(711)Amortization of net actuarial losses212 334 424 667 Net periodic benefit income$(1,883)$(1,685)$(3,766)$(3,370)

NOTE 11: DEBTDebt outstanding was comprised of the following:(in thousands)June 30,2025December 31, 2024Senior secured term loan facility$480,167 $500,000 Senior unsecured notes475,000 475,000 Senior secured notes450,000 450,000 Securitization obligations80,000 78,917 Amounts drawn on senior secured revolving credit facility2,500 18,000 Total principal amount1,487,667 1,521,917 Less: unamortized discount and debt issuance costs(17,019)(18,766)Total debt, net of discount and debt issuance costs1,470,648 1,503,151 Less: current portion of long-term debt, net of debt issuance costs(37,189)(37,130)Long-term debt$1,433,459 $1,466,021 Maturities of long-term debt were