
(in millions)	March 31, 2026		December 31, 2025
Trade accounts receivable – gross(1)	$	186.7	$	196.3
Allowance for credit losses	(8.6)		(8.7)
Trade accounts receivable – net	$	178.1	$	187.6


	Quarter Ended March 31,
(in millions)	2026		2025
Balance, beginning of period	$	8.7	$	9.1
Bad debt expense	2.0		1.8
Write-offs and other	(2.1)		(1.8)
Balance, end of period	$	8.6	$	9.1


(in millions)	March 31, 2026		December 31, 2025
Finished and semi-finished goods	$	26.3	$	27.0
Raw materials and supplies	19.1		17.7
Reserve for excess and obsolete items	(10.4)		(11.2)
Inventories and supplies, net of reserve	$	35.0	$	33.5


(in millions)	March 31, 2026		December 31, 2025
Unconditional right to receive consideration(1)	$	21.9	$	11.8
Conditional right to receive consideration	18.7		19.0
Revenue in excess of billings	$	40.6	$	30.8

Goodwill – There were no changes in goodwill during the first quarter of 2026. Goodwill by reportable segment was as follows as of March 31, 2026 and December 31, 2025:


(in millions)	Merchant Services		B2B Payments		Data Solutions(1)		Print(1)		Total


Goodwill	$	727.7	$	160.4	$	40.8	$	493.9	$	1,422.8

(1) The Data Solutions and Print balances are net of accumulated impairment charges of $145.6 million and $193.7 million, respectively, for each period.


	March 31, 2026						December 31, 2025
(in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Internal-use software	$	560.8	$	(393.0)	$	167.8	$	543.2	$	(373.4)	$	169.8
Customer lists/relationships	223.1		(179.4)		43.7		223.1		(174.4)		48.7
Partner relationships	75.9		(25.1)		50.8		76.3		(24.1)		52.2
Technology-based intangibles	65.0		(39.3)		25.7		65.0		(37.2)		27.8
Residual commission buy-out	36.0		(1.8)		34.2		36.0		—		36.0
Other	20.5		(7.2)		13.3		20.5		(6.6)		13.9
Intangibles	$	981.3	$	(645.8)	$	335.5	$	964.1	$	(615.7)	$	348.4

Amortization of intangibles was $30.3 million for the quarter ended March 31, 2026 and $29.7 million for the quarter ended March 31, 2025. Based on the intangibles in service as of March 31, 2026, estimated future amortization expense is as follows:

In the normal course of business, we acquire and develop internal-use software. During the quarter ended March 31, 2026, we acquired or developed internal-use software of $17.6 million with a weighted-average useful life of 3 years.


(in millions)	March 31, 2026		December 31, 2025
Postretirement benefit plan asset	$	131.5	$	129.5
Prepaid product discounts(1)	33.1		29.8
Cloud computing arrangement implementation costs	27.7		29.2
Deferred contract acquisition costs(2)	18.2		17.1
Long-term receivables, net of allowance for credit losses(3)	16.5		9.0
Other	20.2		39.8
Other non-current assets	$	247.2	$	254.4

(1) Amortization of prepaid product discounts was $7.9 million for the quarter ended March 31, 2026 and $8.3 million for the quarter ended March 31, 2025.

(2) Amortization of deferred contract acquisition costs was $2.7 million for the quarter ended March 31, 2026 and $2.9 million for the quarter ended March 31, 2025.

(3) Amount includes the non-current portion of long-term receivables, including loans and notes receivable from distributors and proceeds receivable from an asset sale (Note 6). The current portion of these receivables is included in other current assets on the consolidated balance sheets and was $5.9 million as of March 31, 2026 and $1.7 million as of December 31, 2025. The allowance for credit losses was not material in either period.

The amount of long-term receivables originated during the first quarter of 2026 was $12.0 million, including the current portion of $4.2 million. Long-term receivables originated within the preceding five-year period were not material as of March 31, 2026. There were no write-offs or recoveries recorded during the quarter ended March 31, 2026.

We manage long-term receivables using an internal risk grading process that considers a variety of factors, including borrowers’ ability to service their debt and payment history. Receivables with the highest assessed credit quality are assigned

internal grades of 1-2, while receivables with an identified potential weakness requiring management's attention are assigned internal grades of 3-4. As of March 31, 2026, none of our long-term receivables were assigned an internal grade of 3-4. Additionally, past due and non-accrual balances were not material as of March 31, 2026 or December 31, 2025.


(in millions)	March 31, 2026		December 31, 2025
Deferred revenue(1)	$	23.5	$	36.2
Employee cash bonuses, including sales incentives	17.4		47.4
Interest	14.7		14.4
Customer rebates	13.3		13.9
Operating lease liabilities	10.7		11.4
Wages and payroll liabilities, including vacation	8.3		4.9
Prepaid product discounts	5.9		2.8
Restructuring and integration (Note 8)	4.3		4.3
Consideration payable for asset purchases	0.2		13.1
Other	31.6		42.2
Accrued liabilities	$	129.9	$	190.6

(1) Revenue recognized for amounts included in deferred revenue at the beginning of the period was $15.5 million for the quarter ended March 31, 2026 and $12.3 million for the quarter ended March 31, 2025.


(in millions)	March 31, 2026		March 31, 2025
Cash and cash equivalents	$	27.2	$	30.3
Restricted cash and restricted cash equivalents included in settlement processing assets	33.0		34.0
Non-current restricted cash included in other non-current assets	2.1		3.0
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	62.3	$	67.3