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Business segment information
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Business segment information
We operate 4 reportable business segments, generally organized by product type, as follows:

•Payments – This segment includes our merchant in-store, online and mobile payment solutions; treasury management solutions, including remittance and lockbox processing, remote deposit capture, receivables management, payment processing and paperless treasury management; payroll and disbursement services, including Deluxe Payment Exchange; and fraud and security services.

•Data Solutions – This segment includes data-driven marketing solutions and hosted solutions, including digital engagement, financial institution profitability reporting and business incorporation services. Through June 2023, this segment also included web hosting and logo design services. We completed the sale of these businesses in June 2023. Further information regarding the divestiture can be found in Note 6.

•Promotional Solutions – This segment includes business forms, accessories, advertising specialties and promotional apparel.

•Checks – This segment includes printed business and personal checks.

The accounting policies of the segments are the same as those described in the Notes to Consolidated Financial Statements included in the 2022 Form 10-K. We allocate corporate costs for our shared services functions to our business segments when the costs are directly attributable to a segment. This includes certain sales and marketing, supply chain, real estate, finance, information technology and legal costs. Costs that are not directly attributable to a business segment are reported as Corporate operations and consist primarily of marketing, accounting, information technology, human resources, facilities, executive management and legal, tax and treasury costs that support the corporate function. Corporate operations also includes other income. All of our segments operate primarily in the U.S., with some operations in Canada. Through June 2023, Data Solutions also had operations in portions of Europe and partners in Central and South America, and through May 2022, also had operations in Australia. Information regarding the divestiture of these businesses can be found in Note 6.

Our chief operating decision maker (i.e., our Chief Executive Officer) reviews EBITDA on an adjusted basis for each segment when deciding how to allocate resources and to assess segment operating performance. Adjusted EBITDA for each segment excludes depreciation and amortization expense, interest expense, income tax expense and certain other amounts, which may include, from time to time: asset impairment charges; restructuring and integration costs; share-based compensation expense; acquisition transaction costs; certain legal-related expense; and gains or losses on sales of businesses and long-lived assets. Our Chief Executive Officer does not review segment asset information when making investment or operating decisions regarding our reportable business segments.
Segment information for the quarters and nine months ended September 30, 2023 and 2022 was as follows:

Quarter Ended September 30,Nine Months Ended September 30,
(in thousands)2023202220232022
Payments:
Revenue$169,482 $169,787 $515,837 $507,149 
Adjusted EBITDA37,597 36,184 110,470 107,605 
Data Solutions:
Revenue64,080 66,739 194,764 204,824 
Adjusted EBITDA15,317 16,034 48,375 50,869 
Promotional Solutions:
Revenue124,292 136,081 399,234 408,600 
Adjusted EBITDA16,627 18,255 56,676 49,795 
Checks:
Revenue179,990 182,431 545,061 553,433 
Adjusted EBITDA81,417 80,478 241,481 245,838 
Total segment:
Revenue$537,844 $555,038 $1,654,896 $1,674,006 
Adjusted EBITDA150,958 150,951 457,002 454,107 

The following table presents a reconciliation of total segment adjusted EBITDA to consolidated (loss) income before income taxes:
Quarter Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2023202220232022
Total segment adjusted EBITDA$150,958 $150,951 $457,002 $454,107 
Corporate operations(49,068)(46,359)(146,304)(148,159)
Depreciation and amortization expense(38,857)(42,304)(124,985)(128,948)
Interest expense(32,034)(23,799)(93,982)(65,471)
Net income attributable to non-controlling interest26 35 80 106 
Restructuring and integration costs(29,364)(15,319)(70,935)(46,830)
Share-based compensation expense(4,539)(5,728)(15,889)(18,766)
Acquisition transaction costs— (51)— (112)
Certain legal-related (expense) benefit(1,949)1,659 (2,195)814 
(Loss) gain on sale of businesses and long-lived assets(4,324)1,804 17,618 19,331 
(Loss) income before income taxes$(9,151)$20,889 $20,410 $66,072 
The following tables present revenue disaggregated by our product and service offerings:
Quarter Ended September 30, 2023
(in thousands)PaymentsData
Solutions		Promotional SolutionsChecksConsolidated
Checks$— $— $— $179,990 $179,990 
Merchant services and other payment solutions110,258 — — — 110,258 
Marketing and promotional solutions
— — 62,309 — 62,309 
Forms and other products
— — 61,983 — 61,983 
Data-driven marketing solutions
— 59,561 — — 59,561 
Treasury management solutions
59,224 — — — 59,224 
Web and hosted solutions
— 4,519 — — 4,519 
Total revenue$169,482 $64,080 $124,292 $179,990 $537,844 

Quarter Ended September 30, 2022
(in thousands)PaymentsData
Solutions		Promotional SolutionsChecksConsolidated
Checks$— $— $— $182,431 $182,431 
Merchant services and other payment solutions108,255 — — — 108,255 
Marketing and promotional solutions
— — 64,284 — 64,284 
Forms and other products
— — 71,797 — 71,797 
Data-driven marketing solutions
— 46,993 — — 46,993 
Treasury management solutions
61,532 — — — 61,532 
Web and hosted solutions
— 19,746 — — 19,746 
Total revenue$169,787 $66,739 $136,081 $182,431 $555,038 
Nine Months Ended September 30, 2023
(in thousands)PaymentsData
Solutions		Promotional SolutionsChecksConsolidated
Checks$— $— $— $545,061 $545,061 
Merchant services and other payment solutions334,973 — — — 334,973 
Marketing and promotional solutions
— — 204,998 — 204,998 
Forms and other products
— — 194,236 — 194,236 
Treasury management solutions
180,864 — — — 180,864 
Data-driven marketing solutions
— 153,346 — — 153,346 
Web and hosted solutions
— 41,418 — — 41,418 
Total revenue$515,837 $194,764 $399,234 $545,061 $1,654,896 
Nine Months Ended September 30, 2022
(in thousands)PaymentsData
Solutions		Promotional SolutionsChecksConsolidated
Checks$— $— $— $553,433 $553,433 
Merchant services and other payment solutions328,144 — — — 328,144 
Marketing and promotional solutions
— — 197,083 — 197,083 
Forms and other products
— — 211,517 — 211,517 
Treasury management solutions
179,005 — — — 179,005 
Data-driven marketing solutions
— 134,307 — — 134,307 
Web and hosted solutions
— 70,517 — — 70,517 
Total revenue$507,149 $204,824 $408,600 $553,433 $1,674,006 

The following tables present revenue disaggregated by geography, based on where items are shipped from or where services are performed:
Quarter Ended September 30, 2023
(in thousands)PaymentsData
Solutions		Promotional SolutionsChecksConsolidated
United States$156,556 $64,080 $119,137 $173,682 $513,455 
Canada12,926 — 5,155 6,308 24,389 
Total revenue$169,482 $64,080 $124,292 $179,990 $537,844 

Quarter Ended September 30, 2022
(in thousands)PaymentsData
Solutions		Promotional SolutionsChecksConsolidated
United States$159,160 $64,111 $129,697 $175,481 $528,449 
Foreign, primarily Canada10,627 2,628 6,384 6,950 26,589 
Total revenue$169,787 $66,739 $136,081 $182,431 $555,038 

Nine Months Ended September 30, 2023
(in thousands)PaymentsData
Solutions		Promotional SolutionsChecksConsolidated
United States$478,441 $189,037 $381,808 $525,221 $1,574,507 
Foreign, primarily Canada37,396 5,727 17,426 19,840 80,389 
Total revenue$515,837 $194,764 $399,234 $545,061 $1,654,896 

Nine Months Ended September 30, 2022
(in thousands)PaymentsData
Solutions		Promotional SolutionsChecksConsolidated
United States$475,368 $188,494 $389,824 $531,260 $1,584,946 
Foreign, primarily Canada and Australia
31,781 16,330 18,776 22,173 89,060 
Total revenue$507,149 $204,824 $408,600 $553,433 $1,674,006