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ACQUISITION AND DIVESTITURES (Tables)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Acquisition

The following illustrates the final allocation of the purchase price, to the assets acquired and liabilities assumed:

(in thousands)						Purchase price allocation
Trade accounts receivable						$	27,296
Other current assets						8,533
Property, plant and equipment						9,873
Operating lease assets						24,396
Intangible assets:
Customer relationships						127,000
Partner relationships						72,000
Technology-based intangibles						65,000
Trade names						21,000
Internal-use software						6,111
Total intangible assets						291,111
Goodwill						728,516
Other non-current assets						350
Accounts payable						(18,475)
Funds held for customers						(9,428)
Accrued liabilities						(23,460)
Operating lease liabilities, non-current						(21,316)
Deferred income taxes						(54,506)
Other non-current liabilities						(4,376)
Payment for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired of $15,841						$	958,514

Operating results for First American for the years ended December 31 were as follows:

(in thousands)												2022						2021
Revenue												$	347,709					$	194,976
Net income attributable to Deluxe												5,794						1,806

Unaudited pro forma financial information

The following unaudited pro forma financial information summarizes our consolidated results of operations for the years ended December 31 as though the acquisition occurred on January 1, 2020:

(in thousands)						2021						2020
Revenue						$	2,156,313					$	2,079,103
Net income (loss) attributable to Deluxe						74,843						(54,489)

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

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