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Supplemental balance sheet and cash flow information (Tables)
 3 Months Ended
Mar. 31, 2025
Inventories and supplies
Inventories and supplies – Inventories and supplies were comprised of the following:
(in thousands)March 31,
2025		December 31,
2024
Finished and semi-finished goods$28,335 $31,146 
Raw materials and supplies17,191 16,787 
Reserve for excess and obsolete items(11,017)(11,540)
Inventories and supplies, net of reserve$34,509 $36,393 
Revenue in excess of billings
Revenue in excess of billings – Revenue in excess of billings was comprised of the following:
(in thousands)March 31,
2025		December 31,
2024
Conditional right to receive consideration$14,703 $16,943 
Unconditional right to receive consideration(1)
13,925 9,798 
Revenue in excess of billings$28,628 $26,741 

(1) Represents revenues that are earned but not currently billable under the related contract terms.
Intangibles
Intangibles – Intangibles were comprised of the following:
 March 31, 2025December 31, 2024
(in thousands)Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amount
Internal-use software$508,947 $(357,609)$151,338 $488,840 $(339,683)$149,157 
Customer lists/relationships311,066 (231,158)79,908 311,578 (223,272)88,306 
Partner relationships76,200 (19,874)56,326 76,252 (19,632)56,620 
Technology-based intangibles65,000 (31,146)33,854 65,000 (29,115)35,885 
Software to be sold6,200 (5,270)930 6,200 (5,115)1,085 
Intangibles$967,413 $(645,057)$322,356 $947,870 $(616,817)$331,053 
Estimated future amortization expense Based on the intangibles in service as of March 31, 2025, estimated future amortization expense is as follows:
(in thousands)Estimated
amortization
expense
Remainder of 2025$76,913 
202677,306 
202748,964 
202828,754 
202916,108 
Goodwill
Goodwill – Changes in goodwill by reportable segment and in total were as follows for the quarter ended March 31, 2025:

(in thousands)Merchant ServicesB2B Payments
Data Solutions(1)
Print(1)
Total
Balance, December 31, 2024
$727,688 $160,431 $40,804 $493,814 $1,422,737 
Currency translation adjustment— — — 4 4 
Balance, March 31, 2025
$727,688 $160,431 $40,804 $493,818 $1,422,741 

(1) The Data Solutions and Print balances are net of accumulated impairment charges of $145,584 and $193,699, respectively, for each period.
Other non-current assets
Other non-current assets – Other non-current assets were comprised of the following:
(in thousands)March 31,
2025		December 31,
2024
Postretirement benefit plan asset$109,279 $107,524 
Cloud computing arrangement implementation costs38,787 42,470 
Prepaid product discounts(1)
38,591 32,847 
Deferred contract acquisition costs(2)
19,008 18,780 
Loans and notes receivable from distributors, net of allowance for credit losses(3)
10,570 10,789 
Other22,743 24,234 
Other non-current assets$238,978 $236,644 

(1) Amortization of prepaid product discounts was $8,268 for the quarter ended March 31, 2025 and $8,180 for the quarter ended March 31, 2024.
(2) Amortization of deferred contract acquisition costs was $2,857 for the quarter ended March 31, 2025 and $3,091 for the quarter ended March 31, 2024.

(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 $1,387 as of March 31, 2025 and $1,753 as of December 31, 2024. The allowance for credit losses was not material in either period.
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 March 31, 2025. There were no write-offs or recoveries recorded during the quarter ended March 31, 2025.

Loans and notes receivable from distributors amortized cost basis by origination year
(in thousands)202420232020PriorTotal
Risk rating:
1-2 internal grade$893 $300 $827 $10,748 $12,768 
3-4 internal grade— — — — — 
Loans and notes receivable$893 $300 $827 $10,748 $12,768 
Accrued liabilities
Accrued liabilities – Accrued liabilities were comprised of the following:
(in thousands)March 31,
2025		December 31,
2024
Deferred revenue(1)
$28,250 $31,605 
Employee cash bonuses, including sales incentives15,643 33,422 
Interest14,610 9,493 
Operating lease liabilities12,057 12,406 
Customer rebates9,382 10,100 
Prepaid product discounts8,071 2,583 
Wages and payroll liabilities, including vacation7,843 10,321 
Restructuring and integration (Note 8)6,363 3,755 
Other46,617 35,908 
Accrued liabilities$148,836 $149,593 
 
(1) Revenue recognized for amounts included in deferred revenue at the beginning of the period was $12,318 for the quarter ended March 31, 2025 and $14,644 for the quarter ended March 31, 2024.
Supplemental cash flow information
Supplemental cash flow information – The reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the consolidated statements of cash flows was as follows:
(in thousands)March 31,
2025		March 31,
2024
Cash and cash equivalents$30,316 $23,544 
Restricted cash and restricted cash equivalents included in settlement processing assets34,019 108,227 
Non-current restricted cash included in other non-current assets2,950 3,073 
Total cash, cash equivalents, restricted cash, and restricted cash equivalents$67,285 $134,844 
Trade accounts receivable [Member]  
Allowance for credit losses
Trade accounts receivable – Net trade accounts receivable was comprised of the following:
(in thousands)March 31,
2025		December 31,
2024
Trade accounts receivable – gross$182,837 $183,196 
Allowance for credit losses(9,147)(9,120)
Trade accounts receivable – net(1)
$173,690 $174,076 

(1) Includes unbilled receivables of $59,785 as of March 31, 2025 and $47,341 as of December 31, 2024.
Changes in the allowance for credit losses for the quarters ended March 31, 2025 and March 31, 2024 were as follows:
Quarter Ended
March 31,
(in thousands)20252024
Balance, beginning of year$9,120 $6,541 
Bad debt expense1,770 2,960 
Write-offs and other(1,743)(1,941)
Balance, end of period$9,147 $7,560