XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.21.2

Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Debt Disclosure [Abstract] |
Debt outstanding | Debt outstanding was comprised of the following:
(in thousands) |  | June 30, 2021 |  | December 31, 2020
Senior, secured term loan facility |  | $ | 1,155,000 |  |  | $ | — |
Senior, unsecured notes |  | 500,000 |  |  | — |
Amounts drawn on senior, secured revolving credit facility |  | 200,000 |  |  | 840,000 |
Total principal amount |  | 1,855,000 |  |  | 840,000 |
Less: unamortized discount and debt issuance costs |  | (21,589) |  |  | — |
Total debt, net of discount and debt issuance costs |  | 1,833,411 |  |  | 840,000 |
Less: current portion of long-term debt, net of debt issuance costs |  | (57,130) |  |  | — |
Long-term debt |  | $ | 1,776,281 |  |  | $ | 840,000 |
Maturities of long-term debt | Maturities of long-term debt were as follows as of June 30, 2021:
(in thousands) |  | Debt obligations
Remainder of 2021 |  | $ | 28,875 |
2022 |  | 57,750 |
2023 |  | 72,188 |
2024 |  | 86,625 |
2025 |  | 101,062 |
Thereafter |  | 1,508,500 |
Total principal amount |  | $ | 1,855,000 |
Leverage ratio requirements | The credit agreement also includes requirements regarding our consolidated total leverage ratio and our consolidated secured leverage ratio, as defined in the credit agreement. These ratios may not equal or exceed the following amounts during the periods indicated:
Fiscal Quarter Ending |  | Consolidated total leverage ratio |  | Consolidated secured leverage ratio
September 30, 2021 through March 31, 2022 |  | 5.00 to 1:00 |  | 4.00 to 1:00
June 30, 2022 through March 31, 2023 |  | 4.75 to 1:00 |  | 3.75 to 1:00
June 30, 2023 through March 31, 2024 |  | 4.50 to 1:00 |  | 3.50 to 1:00
June 30, 2024 and each fiscal quarter thereafter |  | 4.25 to 1:00 |  | 3.50 to 1:00
Credit facility | Daily average amounts outstanding under our current and previous credit facility agreements were as follows:
(in thousands) |  | Six Months Ended June 30, 2021 |  | Year Ended December 31, 2020
Daily average amount outstanding |  | $ | 925,359 |  |  | $ | 1,016,896 |
Weighted-average interest rate |  | 2.15 | % |  | 2.12 | %
As of June 30, 2021, amounts were available for borrowing under our revolving credit facility as follows:
(in thousands) |  | Total available
Revolving credit facility commitment |  | $ | 500,000 |
Amounts drawn on revolving credit facility |  | (200,000) |
Outstanding letters of credit(1) |  | (7,533) |
Net available for borrowing as of June 30, 2021 |  | $ | 292,467 |
(1) We use standby letters of credit primarily to collateralize certain obligations related to our self-insured workers' compensation claims, as well as claims for environmental matters, as required by certain states.These letters of credit reduce the amount available for borrowing under our revolving credit facility.

X
- Definition Tabular disclosure of information regarding debt covenant requirements. + References No definition available. + Details
Name: | dlx_DebtCovenantsTableTextBlock
Namespace Prefix: | dlx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration