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Consolidated Financial Statement Details (Tables)
12 Months Ended
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 other1,514 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 instruments10,550 16,198 
Implementation costs for cloud computing arrangements, net(4)(5)
10,450 9,259 
Unbilled accounts receivable7,067 5,615 
Investment in equity securities(6)
4,943 — 
Taxes, prepaid and receivable4,257 3,418 
Prepaid insurance3,027 3,940 
Other assets14,026 14,346 
Total prepaid expenses and other assets148,508 150,322 
Less: Long-term portion67,221 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 balances8,779 10,238 
Stock-based compensation liability(2)
7,292 — 
Operating lease liabilities, current portion4,489 6,701 
Unrecognized tax benefit4,285 2,954 
Accrued commissions and salaries4,012 4,413 
Accrued transaction-based costs related to payments services3,903 4,323 
Accrued health care costs3,151 3,865 
Accrued legal costs(3)
2,504 3,659 
Accrued vacation costs2,060 2,452 
Derivative instruments— 5,540 
Contingent consideration liability
— 1,403 
Other liabilities10,035 7,750 
Total accrued expenses and other liabilities80,339 74,580 
Less: Long-term portion4,796 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)202420232022
Interest income$9,846 $8,821 $1,746 
Currency revaluation gains (losses)487 (36)4,635 
Other income, net4,216 4,076 2,332 
Other income, net$14,549 $12,861 $8,713