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Consolidated Financial Statement Details | 3 Months Ended
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Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Consolidated Financial Statement Details |
5. Consolidated Financial Statement Details
Restricted cash
(dollars in thousands) | March 31, 2025 | December 31, 2024
Restricted cash due to customers | $ | 418,258 |  | $ | 740,370 |
Real estate escrow balances and other | 1,142 |  | 1,514 |
Total restricted cash | $ | 419,400 |  | $ | 741,884 |
Prepaid expenses and other assets
(dollars in thousands) | March 31, 2025 | December 31, 2024
Costs of obtaining contracts(1)(2) | $ | 56,945 |  | $ | 57,911 |
Prepaid software maintenance and subscriptions(3) | 36,321 |  | 36,277 |
Implementation costs for cloud computing arrangements, net(4)(5) | 10,321 |  | 10,450 |
Unbilled accounts receivable | 8,699 |  | 7,067 |
Prepaid insurance | 5,754 |  | 3,027 |
Taxes, prepaid and receivable | 5,434 |  | 4,257 |
Investment in equity securities(6) | 4,943 |  | 4,943 |
Derivative instruments | 3,517 |  | 10,550 |
Other assets | 13,518 |  | 14,026 |
Total prepaid expenses and other assets | 145,452 |  | 148,508 |
Less: Long-term portion | 57,270 |  | 67,221 |
Prepaid expenses and other current assets | $ | 88,182 |  | $ | 81,287 |
(1)Amortization expense from costs of obtaining contracts was $5.0 million and $4.8 million for the three months ended March 31, 2025 and 2024, respectively. (2)The current portion of costs of obtaining contracts as of March 31, 2025 and December 31, 2024 was $18.4 million and $18.4 million, respectively. (3)The current portion of prepaid software maintenance and subscriptions as of March 31, 2025 and December 31, 2024 was $34.7 million and $34.0 million, respectively. (4)These costs primarily relate to the multi-year implementations of our global enterprise resource planning, customer relationship management systems and other cloud-based systems. (5)Amortization expense from capitalized cloud computing implementation costs was insignificant for the three months ended March 31, 2025 and 2024. Accumulated amortization for these costs was $11.4 million and $10.6 million as of March 31, 2025 and December 31, 2024, respectively. (6)Represents a strategic investment that did not result in Blackbaud having significant influence over the investee. Accrued expenses and other liabilities
(dollars in thousands) | March 31, 2025 | December 31, 2024
Taxes payable | $ | 15,820 |  | $ | 15,844 |
Customer credit balances | 8,621 |  | 8,779 |
Unrecognized tax benefit | 4,348 |  | 4,285 |
Accrued legal costs(1) | 2,864 |  | 2,504 |
Accrued health care costs | 2,670 |  | 3,151 |
Accrued commissions and salaries | 2,558 |  | 4,012 |
Accrued vacation costs | 2,360 |  | 2,060 |
Accrued transaction-based costs related to payments services | 1,652 |  | 3,903 |
Stock-based compensation liability | 1,344 |  | 7,292 |
Operating lease liabilities, current portion | 1,073 |  | 4,489 |
Accrued costs to sell EVERFI | — |  | 13,985 |
Other liabilities | 6,585 |  | 10,035 |
Total accrued expenses and other liabilities | 49,895 |  | 80,339 |
Less: Long-term portion | 4,771 |  | 4,796 |
Accrued expenses and other current liabilities | $ | 45,124 |  | $ | 75,543 |
(1)All accrued legal costs are classified as current. See Note 8 to these unaudited, condensed consolidated financial statements for additional information about our loss contingency accruals and other legal expenses. Other income, net
|  |  | Three months ended March 31,
(dollars in thousands) |  |  |  | 2025 | 2024
Interest income |  |  |  | $ | 1,655 |  | $ | 2,048 |
Currency revaluation (losses) gains |  |  |  | (877) |  | 283 |
Other income, net |  |  |  | 1,327 |  | 1,016 |
Other income, net |  |  |  | $ | 2,105 |  | $ | 3,347 |

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