Company: DLX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000027996-25-000163
Chunk: 98

Company: DELUXE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 98
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 of our long-term debt and our contingent liabilities can be found under the captions “Note 11: Debt” and "Note 12: Other Commitments and Contingencies," both of which appear in the Condensed Notes to Unaudited Consolidated Financial Statements located in Part I, Item 1 of this report. Information regarding our lease obligations can be found under the caption "Note 14: Leases" in the Notes to Consolidated Financial Statements appearing in the 2024 Form 10-K, and information regarding our contractual obligations can be found in the MD&A section of the 2024 Form 10-K, under the section entitled Cash Flows and Liquidity. In the first quarter of 2025, we amended and extended an agreement for information technology services. This modification increased our contractual commitments by approximately $25 million, with the majority of the payments scheduled to be made during the years ending December 31, 2028 and 2029.

As of June 30, 2025, we held cash and cash equivalents of $26 million, with an additional $390 million available for borrowing under our revolving credit facility. We believe that net cash generated from our operations, combined with cash and cash equivalents on hand and the availability under our credit facility, will be sufficient to support our operations over the next 12 months. This includes meeting our contractual obligations, debt service requirements, and addressing our long-term capital needs. We expect to maintain our regular quarterly dividend payments. However, dividends are subject to approval by our board of directors each quarter and, therefore, may change.

CAPITAL RESOURCES

As of June 30, 2025, the principal amount of our debt obligations was $1.49 billion, compared to $1.52 billion as of December 31, 2024. Our capital structure for each period was as follows:

 June 30, 2025December 31, 2024 (in thousands)AmountWeighted-average interest rateAmountWeighted-average interest rateChangeFixed interest rate$925,000 8.1%$925,000 8.1%$— Floating interest rate562,667 6.8%596,917 7.2%(34,250)Debt principal1,487,667 7.6%1,521,917 7.7%(34,250)Shareholders’ equity638,668  620,918  17,750 Total capital$2,126,335