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SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Impact of revision on consolidated financial statements

The impact of the revision on the consolidated statements of income (loss) and the consolidated statements of comprehensive income (loss) was as follows:

(in thousands)						Previously reported						Adjustment						Revised
Year ended December 31, 2020:
Asset impairment charges						$	(97,973)					$	(3,776)					$	(101,749)
Operating income						44,505						(3,776)						40,729
Income before income taxes						30,579						(3,776)						26,803
Income tax provision						(21,680)						212						(21,468)
Net income						8,899						(3,564)						5,335
Net income attributable to Deluxe						8,808						(3,564)						5,244
Basic earnings per share						0.21						(0.09)						0.12
Diluted earnings per share						0.19						(0.08)						0.11
Comprehensive income						15,413						(3,564)						11,849
Comprehensive income attributable to Deluxe						15,322						(3,564)						11,758
Year ended December 31, 2019:
Asset impairment charges						$	(390,980)					$	(30,110)					$	(421,090)
Operating loss						(158,141)						(30,110)						(188,251)
Loss before income taxes						(185,630)						(30,110)						(215,740)
Income tax provision						(14,267)						6,228						(8,039)
Net loss						(199,897)						(23,882)						(223,779)
Net loss attributable to Deluxe						(199,897)						(23,882)						(223,779)
Basic loss per share						(4.65)						(0.55)						(5.20)
Diluted loss per share						(4.65)						(0.55)						(5.20)
Comprehensive loss						(191,265)						(23,882)						(215,147)
Comprehensive loss attributable to Deluxe						(191,265)						(23,882)						(215,147)

The impact of the revision on the consolidated balance sheet as of December 31, 2020 was as follows:

(in thousands)						Previously reported						Adjustment						Revised
ASSETS
Deferred income taxes						$	5,444					$	1,198					$	6,642
Goodwill						736,844						(33,886)						702,958
Total assets						1,874,863						(32,688)						1,842,175
LIABILITIES AND SHAREHOLDERS' EQUITY
Deferred income taxes						$	10,643					$	(5,242)					$	5,401
Retained earnings						522,599						(27,446)						495,153
Total shareholders' equity						540,838						(27,446)						513,392
Total liabilities and shareholders' equity						1,874,863						(32,688)						1,842,175

The impact of the revision on the consolidated statements of cash flows was as follows:

(in thousands)						Previously reported						Adjustment						Revised
Year ended December 31, 2020:
Cash flows from operating activities:
Net income						$	8,899					$	(3,564)					$	5,335
Asset impairment charges						97,973						3,776						101,749
Deferred income taxes						(5,244)						(212)						(5,456)
Year ended December 31, 2019:
Cash flows from operating activities:
Net loss						$	(199,897)					$	(23,882)					$	(223,779)
Asset impairment charges						390,980						30,110						421,090
Deferred income taxes						(34,950)						(6,228)						(41,178)

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- References

No definition available.

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

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