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Consolidated Financial Statement Details (Tables) | 12 Months Ended
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Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Components of Restricted Cash | Restricted cash
(dollars in thousands) | December 31, 2024 | December 31, 2023
Restricted cash due to customers | $ | 740,370 |  | $ | 695,489 |
Real estate escrow balances and other | 1,514 |  | 1,517 |
Total restricted cash | $ | 741,884 |  | $ | 697,006 |
Components of Prepaid Expenses and Other Assets | Prepaid expenses and other assets
(dollars in thousands) | December 31, 2024 | December 31, 2023
Costs of obtaining contracts(1)(2) | $ | 57,911 |  | $ | 62,377 |
Prepaid software maintenance and subscriptions(3) | 36,277 |  | 35,169 |
Derivative instruments | 10,550 |  | 16,198 |
Implementation costs for cloud computing arrangements, net(4)(5) | 10,450 |  | 9,259 |
Unbilled accounts receivable | 7,067 |  | 5,615 |
Investment in equity securities(6) | 4,943 |  | — |
Taxes, prepaid and receivable | 4,257 |  | 3,418 |
Prepaid insurance | 3,027 |  | 3,940 |
Other assets | 14,026 |  | 14,346 |
Total prepaid expenses and other assets | 148,508 |  | 150,322 |
Less: Long-term portion | 67,221 |  | 51,037 |
Prepaid expenses and other current assets | $ | 81,287 |  | $ | 99,285 |
(1)Amortization expense from costs of obtaining contracts was $20.1 million, $31.9 million and $33.6 million for the years ended December 31, 2024, 2023 and 2022, respectively, and is included in sales, marketing and customer success expense in our consolidated statements of comprehensive loss. (2)The current portion of costs of obtaining contracts as of December 31, 2024 and 2023 was $18.4 million and $25.3 million, respectively. (3)The current portion of prepaid software maintenance and subscriptions as of December 31, 2024 and December 31, 2023 was $34.0 million and $32.4 million, respectively. (4)These costs primarily relate to the multi-year implementations of our global enterprise resource planning and customer relationship management systems. (5)Amortization expense from capitalized cloud computing implementation costs was $2.9 million, $2.5 million and $2.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. Accumulated amortization for these costs was $10.6 million and $7.7 million as of December 31, 2024 and 2023, respectively. (6)Represents a strategic investment that did not result in Blackbaud having significant influence over the investee.
Components of Accrued Expenses and Other Liabilities | Accrued expenses and other liabilities
(dollars in thousands) | December 31, 2024 | December 31, 2023
Taxes payable | $ | 15,844 |  | $ | 21,282 |
Accrued costs to sell EVERFI(1) | 13,985 |  | — |
Customer credit balances | 8,779 |  | 10,238 |
Stock-based compensation liability(2) | 7,292 |  | — |
Operating lease liabilities, current portion | 4,489 |  | 6,701 |
Unrecognized tax benefit | 4,285 |  | 2,954 |
Accrued commissions and salaries | 4,012 |  | 4,413 |
Accrued transaction-based costs related to payments services | 3,903 |  | 4,323 |
Accrued health care costs | 3,151 |  | 3,865 |
Accrued legal costs(3) | 2,504 |  | 3,659 |
Accrued vacation costs | 2,060 |  | 2,452 |
Derivative instruments | — |  | 5,540 |
Contingent consideration liability | — |  | 1,403 |
Other liabilities | 10,035 |  | 7,750 |
Total accrued expenses and other liabilities | 80,339 |  | 74,580 |
Less: Long-term portion | 4,796 |  | 10,258 |
Accrued expenses and other current liabilities | $ | 75,543 |  | $ | 64,322 |
(1)See Note 3 for a discussion of our sale of EVERFI on December 31, 2024. (2)This stock-based compensation liability will be settled during 2025 using shares of the Company’s common stock. (3)All accrued legal costs are classified as current. See Note 11 to these consolidated financial statements for additional information about our loss contingency accruals and other legal expenses.
Components of Other Income (Expense) | Other income, net
| Years ended December 31,
(dollars in thousands) | 2024 | 2023 | 2022
Interest income | $ | 9,846 |  | $ | 8,821 |  | $ | 1,746 |
Currency revaluation gains (losses) | 487 |  | (36) |  | 4,635 |
Other income, net | 4,216 |  | 4,076 |  | 2,332 |
Other income, net | $ | 14,549 |  | $ | 12,861 |  | $ | 8,713 |

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