Company: DLX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000027996-25-000163
Chunk: 14

Company: DELUXE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 14
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272)88,306 Partner relationships76,405 (21,304)55,101 76,252 (19,632)56,620 Technology-based intangibles65,000 (33,177)31,823 65,000 (29,115)35,885 Software to be sold6,200 (5,425)775 6,200 (5,115)1,085 Intangibles$986,093 $(671,983)$314,110 $947,870 $(616,817)$331,053 

9

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

Amortization of intangibles was $27,900 for the quarter ended June 30, 2025, $37,366 for the quarter ended June 30, 2024, $57,575 for the six months ended June 30, 2025, and $73,064 for the six months ended June 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 second quarter of 2024.Based on the intangibles in service as of June 30, 2025, estimated future amortization expense is as follows:(in thousands)EstimatedamortizationexpenseRemainder of 2025$50,765 202677,726 202749,550 202828,858 202916,142 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 the quarter ended June 30, 2025, we acquired or developed internal-use software of $38,521 with a weighted-average useful life of 3 years. Other intangibles acquired during the period were not material.Goodwill – Changes in goodwill by reportable segment and in total were as follows for the six months ended June 30, 2025:(in thousands)Merchant ServicesB2B PaymentsData Solutions(1)Print(1)TotalBalance, December 31, 2024$727,688 $160,431 $40,804 $493,814 $1,