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Business segment information
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Business segment information
NOTE 15: BUSINESS SEGMENT INFORMATION

Effective January 1, 2024, we reorganized our reportable business segments to align with structural and management reporting changes that better reflect our portfolio mix and offerings. We now operate the following reportable segments, generally organized by product type:

•Merchant Services – provides electronic credit and debit card authorization and payment systems and processing services primarily to small and medium-sized retail and service businesses.

•B2B Payments – provides treasury management solutions, including remittance and lockbox processing, remote deposit capture, receivables management, payment processing and paperless treasury management, as well as fraud and security services and Deluxe Payment Exchange.
•Data Solutions – provides data-driven marketing solutions, including digital engagement, financial institution profitability reporting and account switching tools, and business incorporation services.

•Print – provides printed personal and business checks, printed business forms, business accessories and promotional products.

The accounting policies of the segments are the same as those described in the Notes to Consolidated Financial Statements included in the 2023 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. Until June 2023, we also had web hosting business operations in portions of Europe and partners in Central and South America.

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 expense; 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.

The following is our segment information for the quarters ended March 31, 2024 and 2023. The segment information for 2023 has been recast to reflect our current segment structure.

Quarter Ended March 31,
(in thousands)20242023
Merchant Services:
Revenue$96,477 $89,105 
Adjusted EBITDA21,437 18,427 
B2B Payments:
Revenue69,418 75,196 
Adjusted EBITDA13,261 13,475 
Data Solutions:
Revenue59,712 44,353 
Adjusted EBITDA14,869 10,256 
Print:
Revenue303,334 314,040 
Adjusted EBITDA90,956 95,201 
Total reportable segments:
Revenue$528,941 $522,694 
Adjusted EBITDA140,523 137,359 
All other:(1)
Revenue6,014 22,671 
Adjusted EBITDA3,636 9,803 
Total:
Revenue$534,955 $545,365 
Adjusted EBITDA144,159 147,162 

(1) Includes our North American web hosting and logo design businesses, which were sold in June 2023, and our payroll and human resources services business, which we are in the process of exiting (Note 6).
The following table presents a reconciliation of total segment adjusted EBITDA to consolidated income before income taxes:
Quarter Ended
March 31,
(in thousands)20242023
Total segment adjusted EBITDA$144,159 $147,162 
Corporate operations(43,701)(46,726)
Depreciation and amortization expense(41,747)(43,520)
Interest expense(30,809)(30,016)
Net income attributable to non-controlling interest27 28 
Restructuring and integration expense(14,737)(14,094)
Share-based compensation expense(5,121)(5,866)
Certain legal-related expense(300)(429)
Gain on sale of businesses and long-lived assets8,581 — 
Income before income taxes$16,352 $6,539 

The following tables present revenue disaggregated by our product and service offerings:
Quarter Ended March 31, 2024
(in thousands)Merchant ServicesB2B
Payments		Data
Solutions		PrintAll
Other		Consolidated
Checks$— $— $— $178,484 $— $178,484 
Merchant services96,477 — — — — 96,477 
Forms and other business products— — — 63,792 — 63,792 
Promotional solutions— — — 61,058 — 61,058 
Treasury management solutions
— 55,077 — — — 55,077 
Data-driven marketing— — 54,325 — — 54,325 
Other— 14,341 5,387 — 6,014 25,742 
Total revenue$96,477 $69,418 $59,712 $303,334 $6,014 $534,955 
Quarter Ended March 31, 2023
(in thousands)Merchant ServicesB2B
Payments		Data
Solutions		PrintAll
other		Consolidated
Checks$— $— $— $178,647 $— $178,647 
Merchant services89,105 — — — — 89,105 
Forms and other business products— — — 65,490 — 65,490 
Promotional solutions— — — 69,903 748 70,651 
Treasury management solutions
— 60,474 — — — 60,474 
Data-driven marketing— — 39,282 — — 39,282 
Other— 14,722 5,071 — 21,923 41,716 
Total revenue$89,105 $75,196 $44,353 $314,040 $22,671 $545,365