v3.26.1
Supplemental balance sheet and cash flow information (Tables)
 3 Months Ended
Mar. 31, 2026
Balance Sheet Related Disclosures [Abstract]  
Trade accounts receivable
Trade accounts receivable – Net trade accounts receivable was comprised of the following:
(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 

(1) Includes unbilled receivables of $56.2 million as of March 31, 2026 and $53.5 million as of December 31, 2025.

Changes in the allowance for credit losses for the quarters ended March 31, 2026 and March 31, 2025 were as follows:
Quarter Ended
March 31,
(in millions)20262025
Balance, beginning of period$8.7 $9.1 
Bad debt expense2.0 1.8 
Write-offs and other(2.1)(1.8)
Balance, end of period$8.6 $9.1 
Inventories and supplies
Inventories and supplies – Inventories and supplies were comprised of the following:
(in millions)March 31,
2026		December 31,
2025
Finished and semi-finished goods$26.3 $27.0 
Raw materials and supplies19.1 17.7 
Reserve for excess and obsolete items(10.4)(11.2)
Inventories and supplies, net of reserve$35.0 $33.5 
Revenue in excess of billings
Revenue in excess of billings – Revenue in excess of billings was comprised of the following:
(in millions)March 31,
2026		December 31,
2025
Unconditional right to receive consideration(1)
$21.9 $11.8 
Conditional right to receive consideration18.7 19.0 
Revenue in excess of billings$40.6 $30.8 

(1) Represents revenues that are earned but not currently billable under the related contract terms.
Goodwill Goodwill by reportable segment was as follows as of March 31, 2026 and December 31, 2025:
(in millions)Merchant ServicesB2B 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.
Intangibles
Intangibles – Intangibles were comprised of the following:
 March 31, 2026December 31, 2025
(in millions)Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amount
Internal-use software$560.8 $(393.0)$167.8 $543.2 $(373.4)$169.8 
Customer lists/relationships223.1 (179.4)43.7 223.1 (174.4)48.7 
Partner relationships75.9 (25.1)50.8 76.3 (24.1)52.2 
Technology-based intangibles65.0 (39.3)25.7 65.0 (37.2)27.8 
Residual commission buy-out36.0 (1.8)34.2 36.0 — 36.0 
Other20.5 (7.2)13.3 20.5 (6.6)13.9 
Intangibles$981.3 $(645.8)$335.5 $964.1 $(615.7)$348.4 
Estimated future amortization expense Based on the intangibles in service as of March 31, 2026, estimated future amortization expense is as follows:
(in millions)Estimated
amortization
expense
Remainder of 2026$81.4 
202781.1 
202856.6 
202928.2 
203020.8 
Other non-current assets
Other non-current assets – Other non-current assets were comprised of the following:
(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 costs27.7 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 
Other20.2 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.
Accrued liabilities
Accrued liabilities – Accrued liabilities were comprised of the following:
(in millions)March 31,
2026		December 31,
2025
Deferred revenue(1)
$23.5 $36.2 
Employee cash bonuses, including sales incentives17.4 47.4 
Interest14.7 14.4 
Customer rebates13.3 13.9 
Operating lease liabilities10.7 11.4 
Wages and payroll liabilities, including vacation8.3 4.9 
Prepaid product discounts5.9 2.8 
Restructuring and integration (Note 8)4.3 4.3 
Consideration payable for asset purchases0.2 13.1 
Other31.6 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.
Supplemental cash flow information
Supplemental cash flow information – Supplemental cash flow information was as follows:
(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 assets33.0 34.0 
Non-current restricted cash included in other non-current assets2.1 3.0 
Total cash, cash equivalents, restricted cash, and restricted cash equivalents$62.3 $67.3