DELUXE CORP
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
DLX$26.59+2.5%Stored close · as of Nov 10, 2026
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Consolidated Statements of Comprehensive Income
DELUXE CORPORATIONCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2023 | 2022 | 2021 |
| Net income | $26,227 | $65,530 | $62,772 |
| Other comprehensive income (loss), net of tax: | |||
| Postretirement benefit plans: | |||
| Net actuarial gain (loss) arising during the year | 6,263 | (11,235) | 6,194 |
| Less reclassification of amounts to net income: | |||
| Amortization of prior service credit | (1,037) | (1,042) | (1,050) |
| Amortization of net actuarial loss | 1,822 | 836 | 1,381 |
| Postretirement benefit plans | 7,048 | (11,441) | 6,525 |
| Interest rate swaps: | |||
| Unrealized (loss) gain arising during the year | (524) | 4,869 | 2,067 |
| Reclassification of realized (gain) loss to net income | (2,355) | (15) | 1,023 |
| Interest rate swaps | (2,879) | 4,854 | 3,090 |
| Debt securities: | |||
| Unrealized holding loss arising during the year | (183) | (571) | (254) |
| Reclassification of realized loss to net income | 1,092 | 6 | — |
| Debt securities | 909 | (565) | (254) |
| Foreign currency translation adjustment: | |||
| Unrealized foreign currency translation gain (loss) arising during the year | 1,295 | (4,170) | 580 |
| Reclassification of foreign currency translation loss to net income | 863 | 5,550 | — |
| Foreign currency translation adjustment | 2,158 | 1,380 | 580 |
| Other comprehensive income (loss) | 7,236 | (5,772) | 9,941 |
| Comprehensive income | 33,463 | 59,758 | 72,713 |
| Comprehensive income attributable to non-controlling interest | (107) | (135) | (139) |
| Comprehensive income attributable to Deluxe | $33,356 | $59,623 | $72,574 |
| Income tax (expense) benefit of other comprehensive income (loss) included in above amounts: | |||
| Postretirement benefit plans: | |||
| Net actuarial gain (loss) arising during the year | $(2,298) | $4,090 | $(2,186) |
| Less reclassification of amounts to net income: | |||
| Amortization of prior service credit | 384 | 379 | 371 |
| Amortization of net actuarial loss | (451) | (64) | (248) |
| Postretirement benefit plans | (2,365) | 4,405 | (2,063) |
| Interest rate swaps: | |||
| Unrealized (loss) gain arising during the year | 194 | (1,771) | (731) |
| Reclassification of realized (gain) loss to net income | 872 | 5 | (361) |
| Interest rate swaps | 1,066 | (1,766) | (1,092) |
| Debt securities: | |||
| Unrealized holding loss arising during the year | 63 | 197 | 88 |
| Reclassification of realized loss to net income | (376) | (2) | — |
| Debt securities | (313) | 195 | 88 |
| Total net tax (expense) benefit | $(1,612) | $2,834 | $(3,067) |
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