Company: DLX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000027996-25-000163
Chunk: 18

Company: DELUXE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 18
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12

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

NOTE 5: OTHER COMPREHENSIVE INCOME (LOSS)Reclassification adjustments – Information regarding amounts reclassified from accumulated other comprehensive loss to net income was as follows:Accumulated other comprehensive loss componentsAmounts reclassified from accumulated other comprehensive lossAffected line item in consolidated statements of comprehensive incomeQuarter EndedJune 30,Six Months EndedJune 30,(in thousands)2025202420252024Amortization of postretirement benefit plan items:Prior service credit$355 $355 $711 $711 Other income, netNet actuarial loss(212)(334)(424)(667)Other income, netTotal amortization143 21 287 44 Other income, netTax expense(76)(44)(152)(89)Income tax provisionAmortization of postretirement benefit plan items, net of tax67 (23)135 (45)Net incomeCash flow hedges:Realized gain on cash flow hedges— 895 — 1,810 Interest expenseTax expense— (242)— (489)Income tax provisionRealized gain on cash flow hedges, net of tax— 653 — 1,321 Net incomeTotal reclassifications, net of tax$67 $630 $135 $1,276 Accumulated other comprehensive loss – Changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2025 and June 30, 2024 were as follows:(in thousands)Postretirement benefit plansCurrency translation adjustmentAccumulated other comprehensive lossBalance, December 31, 2024$(16,566)$(13,350)$(29,916)Other comprehensive income before reclassifications— 1,104 1,104 Amounts reclassified from accumulated other comprehensive loss(135)— (135)Net current-period other comprehensive (loss) income(135)1,104 969 Balance, June 30, 2025$(16,701)$(12,246)$(28,947)(in thousands)Postretirement benefit plansNet unrealized gain on cash flow hedges(1)Currency translation adjustmentAccumulated other comprehensive lossBalance, December 31, 2023$(19,824)$(286)$(9,918)$(