Company: DLX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000027996-25-000189
Chunk: 12

Company: DELUXE CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 12
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 — (499)(499)Balance, September 30, 202444,272 $44,272 $111,679 $490,460 $(33,852)$126 $612,685 

See Condensed Notes to Unaudited Consolidated Financial Statements

6

DELUXE CORPORATIONCONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited)

 Nine Months EndedSeptember 30,(in thousands)20252024Cash flows from operating activities:  Net income$70,235 $40,296 Adjustments to reconcile net income to net cash provided by operating activities:  Depreciation16,792 16,026 Amortization of intangibles84,216 111,690 Asset impairment charge— 6,700 Amortization of prepaid product discounts24,490 24,844 Employee share-based compensation expense17,591 14,972 Operating lease expense10,936 14,011 Amortization of cloud computing arrangement implementation costs11,846 12,362 Gain on sale of businesses and long-lived assets— (29,190)Deferred income taxes16,127 (17,808)Other non-cash items, net16,478 31,146 Changes in assets and liabilities:  Trade accounts receivable(20,726)6,593 Inventories and supplies2,556 (877)Other current and non-current assets(19,511)(34,056)Accounts payable(8,674)8,721 Prepaid product discount payments(22,933)(22,945)Other accrued and non-current liabilities(30,902)(48,363)Net cash provided by operating activities168,521 134,122 Cash flows from investing activities:  Payment for acquisition(12,100)— Purchases of capital assets(72,556)(69,777)Proceeds from sale of businesses and long-lived assets1,968 18,321 Other6,667 133 Net cash used by investing activities(76,021)(51,323)Cash flows from financing activities:  Proceeds from issuing long-term debt and swingline loans, net of debt issuance costs312,793 630,784 Payments on long-term debt and swingline loans(368,919)(695,295)Net change in settlement processing obligations(235,940)(338,955)Cash dividends paid to shareholders(41