Company: DLX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000027996-25-000051
Chunk: 108

Company: DELUXE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 108
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-sale debt securities can be found in Note 8.Revenue in excess of billings – Revenue in excess of billings was comprised of the following at December 31:(in thousands)20242023Conditional right to receive consideration$16,943 $20,680 Unconditional right to receive consideration(1)9,798 5,427 Revenue in excess of billings$26,741 $26,107 (1) Represents revenues that are earned but not currently billable under the related contract terms.Property, plant and equipment – Property, plant and equipment was comprised of the following at December 31:20242023(in thousands)Gross carrying amountAccumulated depreciationNet carrying amountGross carrying amountAccumulated depreciationNet carrying amountMachinery and equipment$329,460 $(276,692)$52,768 $314,778 $(262,308)$52,470 Buildings and improvements124,188 (74,732)49,456 123,072 (68,391)54,681 Land and improvements12,771 (3,408)9,363 12,790 (3,402)9,388 Property, plant and equipment$466,419 $(354,832)$111,587 $450,640 $(334,101)$116,539 

56

DELUXE CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(dollars in thousands, except per share amounts)

Intangibles – Amortizable intangibles were comprised of the following at December 31: 20242023(in thousands)Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amountInternal-use software$488,840 $(339,683)$149,157 $554,825 $(412,364)$142,461 Customer lists/relationships311,578 (223,272)88,306 363,298 (235,557)127,741 Partner relationships76,252 (19,632)56,620 74,911 (14,031)60,880 Technology-based intangibles65,000 (29,115)35,885 97,633 (54,251)43,382 Trade names— — — 39,367 (23,792)15,575 Software to be sold6,200 (5,115