
(in thousands)	September 30, 2024		December 31, 2023
Trade accounts receivable – gross	$	183,466	$	197,546
Allowance for credit losses	(11,206)		(6,541)
Trade accounts receivable – net(1)	$	172,260	$	191,005


	Nine Months Ended September 30,
(in thousands)	2024		2023
Balance, beginning of year	$	6,541	$	4,182
Bad debt expense	12,040		5,191
Write-offs and other	(7,375)		(2,774)
Balance, end of period	$	11,206	$	6,599


(in thousands)	September 30, 2024		December 31, 2023
Finished and semi-finished goods	$	34,425	$	34,194
Raw materials and supplies	17,230		17,339
Reserve for excess and obsolete items	(12,053)		(9,445)
Inventories and supplies, net of reserve	$	39,602	$	42,088

Available-for-sale debt securities – We did not hold any available-for-sale debt securities as of September 30, 2024. Available-for-sale debt securities held as of December 31, 2023 were comprised of the following:


	December 31, 2023
(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Cash equivalents:
Domestic money market fund	$	22,000	$	—	$	—	$	22,000
Available-for-sale debt securities	$	22,000	$	—	$	—	$	22,000

The domestic money market fund held highly liquid, short-term investments managed by the financial institution. Further information regarding the fair value of available-for-sale debt securities can be found in Note 8.


(in thousands)	September 30, 2024		December 31, 2023
Conditional right to receive consideration	$	15,745	$	20,680
Unconditional right to receive consideration(1)	14,178		5,427
Revenue in excess of billings	$	29,923	$	26,107


	September 30, 2024						December 31, 2023
(in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Internal-use software	$	596,355	$	(453,331)	$	143,024	$	554,825	$	(412,364)	$	142,461
Customer lists/relationships	345,208		(247,963)		97,245		363,298		(235,557)		127,741
Partner relationships	75,396		(17,660)		57,736		74,911		(14,031)		60,880
Technology-based intangibles	65,700		(27,783)		37,917		97,633		(54,251)		43,382
Trade names	39,367		(38,716)		651		39,367		(23,792)		15,575
Software to be sold	6,200		(4,960)		1,240		36,900		(35,195)		1,705
Intangibles	$	1,128,226	$	(790,413)	$	337,813	$	1,166,934	$	(775,190)	$	391,744

Amortization of intangibles was $38,626 for the quarter ended September 30, 2024, $34,941 for the quarter ended September 30, 2023, $111,690 for the nine months ended September 30, 2024 and $110,017 for the nine months ended September 30, 2023. During the second quarter of 2024, we modified the useful life of a trade name asset that we no longer expect to utilize beyond 2024. This change resulted in incremental amortization expense of $6,674 during the quarter ended September 30, 2024 and $13,349 during the nine months ended September 30, 2024. The amount expected to be recognized during the fourth quarter of 2024 is not material.

In the normal course of business, we acquire and develop internal-use software. We also, at times, purchase customer list and partner relationship assets. During the nine months ended September 30, 2024, we acquired or developed $56,163 of internal-use software with a weighted-average useful life of 3 years. Other intangibles acquired during the period were not material.

Goodwill – In conjunction with the realignment of our reportable business segments effective January 1, 2024 (Note 15), the goodwill amounts by reportable segment as of December 31, 2023 have been recast to reflect our new segment structure. No goodwill impairment charges were recorded in conjunction with the segment realignment. Changes in goodwill by reportable segment and in total were as follows for the nine months ended September 30, 2024:


(in thousands)	Merchant Services		B2B Payments		Data Solutions(1)		Print(1)		All Other(1)		Total
Balance, December 31, 2023	$	727,688	$	160,431	$	40,804	$	493,924	$	7,743	$	1,430,590
Asset impairment charge (Note 6)	—		—		—		—		(6,700)		(6,700)
Currency translation adjustment	—		—		—		(29)		—		(29)
Balance, September 30, 2024	$	727,688	$	160,431	$	40,804	$	493,895	$	1,043	$	1,423,861

(1) The Data Solutions and Print balances are net of accumulated impairment charges of $145,584 and $193,699, respectively, for each period. All Other is net of accumulated impairment charges of $6,700 as of September 30, 2024.


(in thousands)	September 30, 2024		December 31, 2023
Postretirement benefit plan asset	$	101,211	$	94,939
Cloud computing arrangement implementation costs	44,409		59,234
Prepaid product discounts(1)	35,834		40,376
Deferred contract acquisition costs(2)	17,995		21,103
Loans and notes receivable from distributors, net of allowance for credit losses(3)	11,635		12,443
Other	23,909		23,087
Other non-current assets	$	234,993	$	251,182

(1) Amortization of prepaid product discounts was $24,844 for the nine months ended September 30, 2024 and $25,291 for the nine months ended September 30, 2023.

(2) Amortization of deferred contract acquisition costs was $9,445 for the nine months ended September 30, 2024 and $8,088 for the nine months ended September 30, 2023.

(3) 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 $1,678 as of September 30, 2024 and $987 as of December 31, 2023.

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, 2024 and 2023:


	Nine Months Ended September 30,
(in thousands)	2024		2023
Balance, beginning of year	$	928	$	1,024
Bad debt expense (benefit)	184		(46)

Balance, end of period	$	1,112	$	978

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, 2024. There were no write-offs or recoveries recorded during the nine months ended September 30, 2024.


			Loans and notes receivable from distributors amortized cost basis by origination year
(in thousands)	2024		2023		2020		2019		Prior		Total
Risk rating:
1-2 internal grade	$	943	$	328	$	895	$	324	$	11,223	$	13,713
3-4 internal grade	—		—		—		—		712		712
Loans and notes receivable	$	943	$	328	$	895	$	324	$	11,935	$	14,425


(in thousands)	September 30, 2024		December 31, 2023
Employee bonuses, including sales incentives	$	32,308	$	49,446
Deferred revenue(1)	22,885		35,343
Interest	15,063		10,481
Operating lease liabilities	12,674		13,562
Income taxes	12,659		7,558
Customer rebates	11,313		12,718
Wages and payroll liabilities, including vacation	11,269		8,605
Restructuring	2,936		9,689
Prepaid product discounts	1,775		4,477
Other	29,149		39,548
Accrued liabilities	$	152,031	$	191,427

(1) Revenue recognized for amounts included in deferred revenue at the beginning of the period was $30,707 for the nine months ended September 30, 2024 and $37,972 for the nine months ended September 30, 2023.

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, 2024		September 30, 2023
Cash and cash equivalents	$	41,307	$	42,189
Restricted cash and restricted cash equivalents included in funds held for customers	41,258		143,893

Non-current restricted cash included in other non-current assets	3,030		2,907
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	85,595	$	188,989