Company: DLX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000027996-25-000189
Chunk: 17

Company: DELUXE CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 17
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2024. This change resulted in incremental amortization expense of $6,674 during the quarter ended September 30, 2024 and $13,349 during the nine months ended September 30, 2024.Based on the intangibles in service as of September 30, 2025, estimated future amortization expense is as follows:(in thousands)EstimatedamortizationexpenseRemainder of 2025$27,027 202681,861 202753,680 202832,329 202919,021 In the normal course of business, we acquire and develop internal-use software. During the nine months ended September 30, 2025, we acquired or developed internal-use software of $59,450 with a weighted-average useful life of 3 years. During the quarter ended September 30, 2025, we also acquired certain assets of JPMorgan Chase Bank’s CheckMatch electronic check conveyance service business. Further information regarding the assets acquired can be found in Note 6. We also, at times, purchase small business distributor customer lists and partner relationship assets, though such purchases were not material during the nine months ended September 30, 2025.Goodwill – Changes in goodwill by reportable segment and in total were as follows for the nine months ended September 30, 2025:(in thousands)Merchant ServicesB2B PaymentsData Solutions(1)Print(1)TotalBalance, December 31, 2024$727,688 $160,431 $40,804 $493,814 $1,422,737 Currency translation adjustment— — — 41 41 Balance, September 30, 2025$727,688 $160,431 $40,804 $493,855 $1,422,778 (1) The Data Solutions and Print balances are net of accumulated impairment charges of $145,584 and $193,699, respectively, for each period.

10

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

Other non-current assets – Other non-current assets were comprised of the following:(in thousands)September 30,2025December 31,2024Postretirement benefit plan asset$113,174 $107,524 Prepaid product discounts(1)32,750 32,847 Cloud computing arrangement implementation costs32,