Company: DLX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000027996-25-000051
Chunk: 85

Company: DELUXE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 85
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 involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the revenue recognition process. These procedures also included, among others, testing, on a sample basis, whether the criteria for revenue recognition have been met by obtaining and inspecting source documents, including customer order information, the related customer contract, invoices, proof of shipment or delivery and cash receipts, as applicable.

/s/ PricewaterhouseCoopers LLP

Minneapolis, Minnesota

February 21, 2025

We have served as the Company’s auditor since 2001.

42

DELUXE CORPORATIONCONSOLIDATED BALANCE SHEETS

(in thousands, except share par value)December 31,2024December 31,2023ASSETS  Current assets:  Cash and cash equivalents, including securities carried at fair value of $0 and $22,000, respectively$34,399 $71,962 Trade accounts receivable, net of allowance for credit losses174,076 191,005 Inventories and supplies, net of reserve36,393 42,088 Settlement processing assets271,876 383,134 Prepaid expenses32,751 30,116 Revenue in excess of billings26,741 26,107 Other current assets35,403 16,576 Total current assets611,639 760,988 Deferred income taxes6,969 8,694 Long-term investments61,025 61,924 Property, plant and equipment, net of accumulated depreciation111,587 116,539 Operating lease assets49,382 58,961 Intangibles, net of accumulated amortization331,053 391,744 Goodwill1,422,737 1,430,590 Other non-current assets236,644 251,182 Total assets$2,831,036 $3,080,622 LIABILITIES AND SHAREHOLDERS’ EQUITY  Current liabilities:  Accounts payable$164,878 $154,863 Settlement processing obligations273,915 386,622 Accrued liabilities149,593 191,427 Current portion of long-term debt37,130 86,153 Total current liabilities625,516 819,065 Long-term debt1,466,021 1,506,698 Operating lease liabilities48,982 58,840