
(in thousands)	September 30, 2023		December 31, 2022
Trade accounts receivable – gross	$	210,570	$	210,799
Allowance for credit losses	(6,599)		(4,182)
Trade accounts receivable – net(1)	$	203,971	$	206,617


	Nine Months Ended September 30,
(in thousands)	2023		2022
Balance, beginning of year	$	4,182	$	4,130
Bad debt expense	5,191		2,410
Write-offs and other	(2,774)		(3,006)
Balance, end of period	$	6,599	$	3,534


(in thousands)	September 30, 2023		December 31, 2022
Finished and semi-finished goods	$	40,453	$	40,715
Raw materials and supplies	18,508		17,952
Reserve for excess and obsolete items	(9,702)		(6,400)
Inventories and supplies, net of reserve	$	49,259	$	52,267


	Nine Months Ended September 30,
(in thousands)	2023		2022
Balance, beginning of year	$	6,400	$	5,132
Amounts charged to expense	3,859		2,552
Write-offs and other	(557)		(2,161)
Balance, end of period	$	9,702	$	5,523


	September 30, 2023
(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value


Funds held for customers:(1)
Canadian and provincial government securities	$	9,380	$	—	$	(1,312)	$	8,068
Available-for-sale debt securities	$	9,380	$	—	$	(1,312)	$	8,068


	December 31, 2022
(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Cash equivalents:
Domestic money market fund	$	5,000	$	—	$	—	$	5,000
Funds held for customers:(1)

Canadian and provincial government securities	9,190		—		(1,064)		8,126
Available-for-sale debt securities	$	14,190	$	—	$	(1,064)	$	13,126


(in thousands)	Fair value
Due in one year or less	$	3,364
Due in two to five years	1,670
Due in six to ten years	3,034
Available-for-sale debt securities	$	8,068


(in thousands)	September 30, 2023		December 31, 2022
Conditional right to receive consideration	$	26,482	$	26,520
Unconditional right to receive consideration(1)	10,211		12,241
Revenue in excess of billings	$	36,693	$	38,761


	September 30, 2023						December 31, 2022
(in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Internal-use software	$	539,892	$	(395,304)	$	144,588	$	529,306	$	(395,514)	$	133,792
Customer lists/relationships	479,240		(339,481)		139,759		497,882		(312,986)		184,896
Technology-based intangibles	97,633		(51,591)		46,042		99,613		(47,478)		52,135
Partner relationships	74,429		(12,292)		62,137		74,682		(9,094)		65,588
Trade names	39,367		(23,267)		16,100		44,185		(26,510)		17,675
Software to be sold	36,900		(34,847)		2,053		36,900		(32,007)		4,893
Intangibles	$	1,267,461	$	(856,782)	$	410,679	$	1,282,568	$	(823,589)	$	458,979

Amortization of intangibles was $34,941 for the quarter ended September 30, 2023, $35,855 for the quarter ended September 30, 2022, $110,017 for the nine months ended September 30, 2023 and $110,353 for the nine months ended September 30, 2022. Based on the intangibles in service as of September 30, 2023, estimated future amortization expense is as follows:

In the normal course of business, we acquire and develop internal-use software. We also, at times, purchase customer list and partner relationship assets. The following intangibles were capitalized during the nine months ended September 30, 2023:


(in thousands)	Amount		Weighted-average amortization period (in years)
Internal-use software	$	66,734	3

Partner relationships	773		1
Acquired intangibles	$	67,507	3


(in thousands)	Payments		Data Solutions		Promotional Solutions		Checks		Total
Balance, December 31, 2022:
Goodwill, gross	$	896,681	$	432,984	$	252,775	$	434,812	$	2,017,252
Accumulated impairment charges	—		(392,168)		(193,699)		—		(585,867)
Goodwill, net of accumulated impairment charges	896,681		40,816		59,076		434,812		1,431,385

Currency translation adjustment and other	(828)		—		7		—		(821)
Balance, September 30, 2023	$	895,853	$	40,816	$	59,083	$	434,812	$	1,430,564

Balance, September 30, 2023:
Goodwill, gross	$	895,853	$	432,984	$	252,782	$	434,812	$	2,016,431
Accumulated impairment charges	—		(392,168)		(193,699)		—		(585,867)
Goodwill, net of accumulated impairment charges	$	895,853	$	40,816	$	59,083	$	434,812	$	1,430,564


(in thousands)	September 30, 2023		December 31, 2022
Postretirement benefit plan asset	$	84,508	$	79,343
Cloud computing arrangement implementation costs	63,112		71,547
Prepaid product discounts	41,365		44,824
Deferred contract acquisition costs(1)	22,490		21,300
Loans and notes receivable from distributors, net of allowance for credit losses(2)	12,442		13,259
Other	38,779		30,081
Other non-current assets	$	262,696	$	260,354

(1) Amortization of deferred contract acquisition costs was $8,088 for the nine months ended September 30, 2023 and $5,872 for the nine months ended September 30, 2022.

(2) Amount includes the non-current portion of loans and notes receivable. The current portion of these receivables is included in other current assets on the consolidated balance sheets and was $979 as of September 30, 2023 and $961 as of December 31, 2022.

Changes in the allowance for credit losses related to loans and notes receivable from distributors were as follows for the nine months ended September 30, 2023 and 2022:


	Nine Months Ended September 30,
(in thousands)	2023		2022
Balance, beginning of year	$	1,024	$	2,830
Bad debt (benefit) expense	(46)		1,221
Other	—		(402)
Balance, end of period	$	978	$	3,649

We categorize loans and notes receivable into risk categories based on information about the ability of borrowers to service their debt, including current financial information, historical payment experience, current economic trends and other factors. The highest quality receivables are assigned a 1-2 internal grade. Those that have a potential weakness requiring management's attention are assigned a 3-4 internal grade.

The following table presents loans and notes receivable from distributors, including the current portion, by credit quality indicator and by year of origination, as of September 30, 2023. There were no write-offs or recoveries recorded during the nine months ended September 30, 2023.


	Loans and notes receivable from distributors amortized cost basis by origination year
(in thousands)	2020		2019		2018		Prior		Total
Risk rating:
1-2 internal grade	$	1,040	$	385	$	3,761	$	9,213	$	14,399
3-4 internal grade	—		—		—		—		—
Loans and notes receivable	$	1,040	$	385	$	3,761	$	9,213	$	14,399


	Nine Months Ended September 30,
(in thousands)	2023		2022
Balance, beginning of year	$	44,824	$	56,527
Additions(1)	21,809		18,721
Amortization	(25,291)		(26,258)
Other	23		(399)
Balance, end of period	$	41,365	$	48,591

(1) Prepaid product discounts are generally accrued upon contract execution. Payments for prepaid product discounts were $21,798 for the nine months ended September 30, 2023 and $23,920 for the nine months ended September 30, 2022.


(in thousands)	September 30, 2023		December 31, 2022
Employee bonuses, including sales incentives	$	39,991	$	57,398
Deferred revenue(1)	25,905		47,012
Interest	15,557		7,314
Restructuring	14,606		8,528
Customer rebates	14,453		12,153
Operating lease liabilities	13,882		12,780
Wages and payroll liabilities, including vacation	7,953		20,264
Prepaid product discounts	4,191		4,179
Other	50,481		48,776
Accrued liabilities	$	187,019	$	218,404

(1) Revenue recognized for amounts included in deferred revenue at the beginning of the period was $37,972 for the nine months ended September 30, 2023 and $41,222 for the nine months ended September 30, 2022.

Supplemental cash flow information – The reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the consolidated balance sheets was as follows:


(in thousands)	September 30, 2023		September 30, 2022
Cash and cash equivalents	$	42,189	$	45,535
Restricted cash and restricted cash equivalents included in funds held for customers	143,893		147,614
Non-current restricted cash included in other non-current assets	2,907		2,742
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	188,989	$	195,891