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Supplemental balance sheet and cash flow information (Tables)
 9 Months Ended
Sep. 30, 2024
Inventories and supplies
Inventories and supplies – Inventories and supplies were comprised of the following:
(in thousands)September 30,
2024		December 31,
2023
Finished and semi-finished goods$34,425 $34,194 
Raw materials and supplies17,230 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
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)CostGross unrealized gainsGross unrealized lossesFair value
Cash equivalents:
Domestic money market fund$22,000 $— $— $22,000 
Available-for-sale debt securities$22,000 $— $— $22,000 
Revenue in excess of billings
Revenue in excess of billings – Revenue in excess of billings was comprised of the following:
(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 

(1) Represents revenues that are earned but not currently billable under the related contract terms.
Intangibles
Intangibles – Intangibles were comprised of the following:
 September 30, 2024December 31, 2023
(in thousands)Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amount
Internal-use software$596,355 $(453,331)$143,024 $554,825 $(412,364)$142,461 
Customer lists/relationships345,208 (247,963)97,245 363,298 (235,557)127,741 
Partner relationships75,396 (17,660)57,736 74,911 (14,031)60,880 
Technology-based intangibles65,700 (27,783)37,917 97,633 (54,251)43,382 
Trade names39,367 (38,716)651 39,367 (23,792)15,575 
Software to be sold6,200 (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 
Estimated future amortization expense
Based on the intangibles in service as of September 30, 2024, estimated future amortization expense is as follows:
(in thousands)Estimated
amortization
expense
Remainder of 2024$32,230 
2025101,851 
202672,200 
202743,530 
202827,115 
Goodwill
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 ServicesB2B 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.
Other non-current assets
Other non-current assets – Other non-current assets were comprised of the following:
(in thousands)September 30,
2024		December 31,
2023
Postretirement benefit plan asset$101,211 $94,939 
Cloud computing arrangement implementation costs44,409 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 
Other23,909 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.
Loans and notes receivable by credit quality Indicator
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)2024202320202019PriorTotal
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 
Accrued liabilities
Accrued liabilities – Accrued liabilities were comprised of the following:
(in thousands)September 30,
2024		December 31,
2023
Employee bonuses, including sales incentives$32,308 $49,446 
Deferred revenue(1)
22,885 35,343 
Interest15,063 10,481 
Operating lease liabilities12,674 13,562 
Income taxes12,659 7,558 
Customer rebates11,313 12,718 
Wages and payroll liabilities, including vacation11,269 8,605 
Restructuring2,936 9,689 
Prepaid product discounts1,775 4,477 
Other29,149 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
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 customers41,258 143,893 
Non-current restricted cash included in other non-current assets3,030 2,907 
Total cash, cash equivalents, restricted cash and restricted cash equivalents$85,595 $188,989 
Trade accounts receivable [Member]  
Allowance for credit losses
Trade accounts receivable – Net trade accounts receivable was comprised of the following:
(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 

(1) Includes unbilled receivables of $61,416 as of September 30, 2024 and $43,673 as of December 31, 2023.

Changes in the allowance for credit losses for the nine months ended September 30, 2024 and 2023 were as follows:
Nine Months Ended
September 30,
(in thousands)20242023
Balance, beginning of year$6,541 $4,182 
Bad debt expense12,040 5,191 
Write-offs and other(7,375)(2,774)
Balance, end of period$11,206 $6,599 
Loans and notes receivable [Member]  
Allowance for credit losses
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)20242023
Balance, beginning of year$928 $1,024 
Bad debt expense (benefit)184 (46)
Balance, end of period$1,112 $978