XML 38 R27.htm IDEA: XBRL DOCUMENT v3.22.2.2
Acquisition and divestitures (Tables)
 9 Months Ended
Sep. 30, 2022
Impact of revision on unaudited pro forma financial information The corrections to adjusted pro forma net income (loss) attributable to Deluxe from the amounts previously reported were as follows:
(in thousands)Increase (decrease) in pro forma net income attributable to Deluxe
Quarter ended June 30, 2021$7,636 
Six Months ended June 30, 20215,911 
Quarter ended September 30, 20212,231 
Nine Months ended September 30, 20218,142 
Year Ended December 31, 202110,138 
Year Ended December 31, 2020(9,082)
Unaudited pro forma financial information
The following unaudited pro forma financial information summarizes our consolidated results of operations as though the First American acquisition occurred on January 1, 2020:

As Revised
(in thousands)Quarter Ended
March 31, 2021		Quarter Ended
June 30, 2021		Six Months Ended
June 30, 2021
Quarter Ended
Sept. 30, 2021(1)
Nine Months Ended
Sept. 30, 2021		Year Ended December 31, 2021Year Ended December 31, 2020
Revenue$518,104 $535,493 $1,053,597 $532,141 $1,585,738 $2,156,313 $2,079,103 
Net income (loss) attributable to Deluxe19,044 24,579 43,623 14,695 58,318 74,843 (54,489)

(1) Only net income attributable to Deluxe was revised for the quarter ended September 30, 2021.
First American Payment Systems, L.P. [Member]  
Purchase price allocation and results of acquired business
The final allocation of the First American purchase price to the assets acquired and liabilities assumed was as follows:

(in thousands)Purchase price allocation
Trade accounts receivable$27,296 
Other current assets8,533 
Property, plant and equipment9,873 
Operating lease assets24,396 
Intangible assets:
Customer relationships127,000 
Partner relationships72,000 
Technology-based intangibles65,000 
Trade names21,000 
Internal-use software6,111 
Total intangible assets291,111 
Goodwill728,516 
Other-non-current assets350 
Accounts payable(18,475)
Funds held for customers(9,428)
Accrued liabilities(23,460)
Operating lease liabilities, non-current(21,316)
Deferred income taxes(54,506)
Other non-current liabilities(4,376)
Payments for acquisition, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired of $15,841
$958,514 

Further information regarding the acquired First American intangibles can be found under the caption "Note 3: Supplemental Balance Sheet and Cash Flow Information" and "Note 8: Fair Value Measurements," both of which are included in the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.

First American acquisition transaction costs are included in selling, general and administrative (SG&A) expense in the consolidated statements of comprehensive income and were $208 for the quarter ended September 30, 2021 and $18,816 for the nine months ended September 30, 2021. Operating results for First American were as follows for the nine months ended September 30:

 Nine Months Ended
September 30,
(in thousands)20222021
Revenue$259,724 $109,828 
Net income attributable to Deluxe2,902 824