SEC Info - Deluxe Corp - ‘10-Q’ for 9/30/10

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Deluxe Corp – ‘10-Q’ for 9/30/10 – ‘XML.R16’

On: Monday, 11/1/10, at 9:56pm ET · As of: 11/2/10 · For: 9/30/10 · Accession #: 1140361-10-43000 · File #: 1-07945

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/02/10  Deluxe Corp                       10-Q        9/30/10   35:5.6M                                   Broadridge Fin’l So… Inc

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Deluxe Corporation 10-Q 9-30-2010                   HTML    768K 
 2: EX-3.1      Articles of Incorporation/Organization or Bylaws    HTML     42K 
 3: EX-12.1     Statement re: Computation of Ratios                 HTML     61K 
 4: EX-31.1     Certification -- §302 - SOA'02                      HTML     20K 
 5: EX-31.2     Certification -- §302 - SOA'02                      HTML     20K 
 6: EX-32.1     Certification -- §906 - SOA'02                      HTML     16K 
27: XML         IDEA XML File -- Definitions and References          XML     76K 
32: XML         IDEA XML File -- Filing Summary                      XML     44K 
30: XML.R1      Document and Entity Information                      XML    113K 
31: XML.R2      Consolidated Balance Sheets                          XML    297K 
18: XML.R3      Consolidated Balance Sheets (Parenthetical)          XML     94K 
22: XML.R4      Consolidated Statements of Income                    XML    357K 
26: XML.R5      Consolidated Statements of Cash Flows                XML    426K 
25: XML.R6      Consolidated financial statements                    XML     34K 
34: XML.R7      New accounting pronouncements                        XML     34K 
15: XML.R8      Supplemental balance sheet information               XML    251K 
24: XML.R9      Derivative financial instruments                     XML     33K 
14: XML.R10     Fair value measurements                              XML    127K 
13: XML.R11     Earnings per share                                   XML    104K 
17: XML.R12     Acquisitions and discontinued operations             XML     48K 
28: XML.R13     Restructuring charges                                XML    184K 
19: XML.R14     Pension and other postretirement benefits            XML     87K 
20: XML.R15     Income tax provision                                 XML     34K 
23: XML.R16     Debt                                                 XML     60K 
35: XML.R17     Other commitments and contingencies                  XML     32K 
16: XML.R18     Shareholders' equity                                 XML    134K 
12: XML.R19     Business segment information                         XML    153K 
21: XML.R20     Market risks                                         XML     38K 
33: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    883K 
 9: EX-101.CAL  XBRL Calculations -- dlx-20100930_cal                XML    112K 
 7: EX-101.INS  XBRL Instance -- dlx-20100930                        XML   1.00M 
10: EX-101.LAB  XBRL Labels -- dlx-20100930_lab                      XML    331K 
11: EX-101.PRE  XBRL Presentations -- dlx-20100930_pre               XML    199K 
 8: EX-101.SCH  XBRL Schema -- dlx-20100930                          XSD     53K 
29: ZIP         XBRL Zipped Folder -- 0001140361-10-043000-xbrl      Zip     64K

‘XML.R16’ — Debt

This Financial Report is an XBRL XML File.

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<div> <div class="alignRight"> <div> <div> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: -36pt;" align="left"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: Times New Roman;">Note 11: Debt</font></div> <div style="display: block; text-indent: 0pt;"><br /></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">Total debt outstanding was comprised of the following:</font></div> <div style="display: block; text-indent: 0pt;"><br /></div> <div align="left"> <table style="font-size: 10pt; font-family: times new roman;" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="border-bottom: black 2px solid;" valign="bottom" align="left"> <div style="display: block; margin-left: 9pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">(in thousands)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="2"> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;" align="center"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;">September 30,</font></div> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;" align="center"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;">2010</font></div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" nowrap="nowrap"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid;" valign="bottom"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="2"> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;" align="center"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;">December 31,</font></div> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;" align="center"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;">2009</font></div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" nowrap="nowrap"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;"> </font></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"> <div style="display: block; margin-left: 9pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">5.0% senior, unsecured notes due December 15, 2012, net of discount, including cumulative change in fair value of hedged debt: 2010 - $6,095 increase; 2009 - $254 decrease</font></div></td> <td valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">$</font></td> <td style="text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">286,014</font></td> <td style="text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">$</font></td> <td style="text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">279,533</font></td> <td style="text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td></tr> <tr bgcolor="white"><td valign="bottom" align="left" width="76%"> <div style="display: block; margin-left: 9pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">5.125% senior, unsecured notes due October 1, 2014, net of discount</font></div></td> <td valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">263,264</font></td> <td style="text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">263,220</font></td> <td style="text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" align="left" width="76%"> <div style="display: block; margin-left: 9pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">7.375% senior, unsecured notes due June 1, 2015</font></div></td> <td style="padding-bottom: 2px;" valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">200,000</font></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">200,000</font></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td></tr> <tr bgcolor="white"><td valign="bottom" align="left" width="76%"> <div style="display: block; margin-left: 18pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">Long-term portion of debt</font></div></td> <td valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">749,278</font></td> <td style="text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">742,753</font></td> <td style="text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" align="left" width="76%"> <div style="display: block; margin-left: 9pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">Amounts drawn on credit facilities</font></div></td> <td style="padding-bottom: 2px;" valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">30,000</font></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">26,000</font></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td></tr> <tr bgcolor="white"><td style="padding-bottom: 4px;" valign="bottom" align="left" width="76%"> <div style="display: block; margin-left: 27pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">Total debt</font></div></td> <td style="padding-bottom: 4px;" valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 3px double; text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">$</font></td> <td style="border-bottom: black 3px double; text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">779,278</font></td> <td style="padding-bottom: 4px; text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="padding-bottom: 4px;" valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 3px double; text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">$</font></td> <td style="border-bottom: black 3px double; text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">768,753</font></td> <td style="padding-bottom: 4px; text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td></tr></table></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><br /></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">Our senior, unsecured notes include covenants that place restrictions on the issuance of additional debt, the execution of certain sale-leaseback agreements and limitations on certain liens. Discounts from par value are being amortized ratably as increases to interest expense over the term of the related debt.</font></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><br /></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">In May 2007, we issued $200.0 million of 7.375% senior, unsecured notes maturing on June 1, 2015. The notes were issued via a private placement under Rule 144A of the Securities Act of 1933. These notes were subsequently registered with the SEC via a registration statement which became effective on June 29, 2007. Interest payments are due each June and December. The notes place a limitation on restricted payments, including increases in dividend levels and share repurchases. This limitation does not apply if the notes are upgraded to an investment-grade credit rating. Principal redemptions may be made at our election at any time on or after June 1, 2011 at redemption prices ranging from 100% to 103.688% of the principal amount. In addition, at any time prior to June 1, 2011, we may redeem some or all of the notes at a price equal to 100% of the principal amount plus accrued and unpaid interest and a make-whole premium. If we sell certain of our assets or experience specific types of changes in control, we must offer to purchase the notes at 101% of the principal amount. Proceeds from the offering, net of offering costs, were $196.3 million. These proceeds were subsequently used on October 1, 2007 as part of our repayment of $325.0 million of unsecured notes plus accrued interest. The fair value of the notes issued in May 2007 was $205.5 million as of September 30, 2010, based on quoted prices for identical liabilities when traded as assets.</font></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><font size="2" class="_mt"> </font> </div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"> <div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">In October 2004, we issued $275.0 million of 5.125% senior, unsecured notes maturing on October 1, 2014. The notes were issued via a private placement under Rule 144A of the Securities Act of 1933. These notes were subsequently registered with the SEC via a registration statement which became effective on November 23, 2004. Interest payments are due each April and October. Proceeds from the offering, net of offering costs, were $272.3 million. These proceeds were used to repay commercial paper borrowings used for the acquisition of New England Business Service, Inc. in 2004. During the quarter ended March 31, 2009, we retired $11.5 million of these notes, realizing a pre-tax gain of $4.1 million. As of September 30, 2010, the fair value of the $263.5 million remaining notes outstanding was $255.1 million, based on quoted prices for identical liabilities when traded as assets.</font></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><br /></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">In December 2002, we issued $300.0 million of 5.0% senior, unsecured notes maturing on December 15, 2012. These notes were issued under our shelf registration statement covering up to $300.0 million in medium-term notes, thereby exhausting that registration statement. Interest payments are due each June and December. Principal redemptions may be made at our election prior to the stated maturity. Proceeds from the offering, net of offering costs, were $295.7 million. These proceeds were used for general corporate purposes, including funding share repurchases, capital asset purchases and working capital. During the quarter ended March 31, 2009, we retired $19.7 million of these notes, realizing a pre-tax gain of $5.7 million. As of September 30, 2010, the fair value of the $280.3 million remaining notes outstanding was $286.1 million, based on quoted prices for identical liabilities when traded as assets. As discussed in Note 4, during September 2009, we entered into interest rate swaps with a notional amount of $210.0 million to hedge a portion of these notes. The fair value of long-term debt disclosed here does not reflect the impact of these fair value hedges. The carrying amount of long-term debt has increased $6.1 million since the inception of the interest rate swaps due to changes in the fair value of the hedged long-term debt.</font></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><br /></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">As of December 31, 2009, we had a $275.0 million committed line of credit which was scheduled to expire in July 2010. During March 2010, we cancelled this line of credit and executed a new $200.0 million credit facility, which expires in March 2013. Borrowings under the credit facility are collateralized by substantially all of our assets. Our commitment fee ranges from 0.40% to 0.50% based on our leverage ratio. The credit agreement governing the credit facility contains customary covenants regarding limits on levels of subsidiary indebtedness and capital expenditures, liens, investments, acquisitions, certain mergers, certain asset sales outside the ordinary course of business, and change in control as defined in the agreement. The agreement also contains financial covenants regarding our leverage ratio, interest coverage and liquidity.</font></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><br /></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">The daily average amount outstanding under our credit facilities during the nine months ended September 30, 2010 was $60.9 million at a weighted-average interest rate of 3.18%. As of September 30, 2010, $30.0 million was outstanding at a weighted-average interest rate of 3.31%. During 2009, the daily average amount outstanding under our line of credit was $69.3 million at a weighted-average interest rate of 0.76%. As of December 31, 2009, $26.0 million was outstanding at a weighted-average interest rate of 0.67%. As of September 30, 2010, amounts were available for borrowing under our credit facility as follows:</font></div> <div style="display: block; text-indent: 0pt;"><br /></div> <div align="left"> <table style="font-size: 10pt; font-family: times new roman;" cellspacing="0" cellpadding="0" width="70%"> <tr><td style="border-bottom: black 2px solid;" valign="bottom" align="left" width="58%"> <div style="display: block; margin-left: 9pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">(in thousands)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="10%" colspan="2"> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;" align="center"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;">Total Available</font></div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;"> </font></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" align="left" width="58%"> <div style="display: block; margin-left: 9pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">Credit facility commitment</font></div></td> <td valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">$</font></td> <td style="text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">200,000</font></td> <td style="text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td></tr> <tr bgcolor="white"><td valign="bottom" align="left" width="58%"> <div style="display: block; margin-left: 9pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">Amounts drawn on credit facility</font></div></td> <td valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">(30,000 </font></td> <td style="text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">)</font></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" align="left" width="58%"> <div style="display: block; margin-left: 9pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">Outstanding letters of credit</font></div></td> <td style="padding-bottom: 2px;" valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">(9,313 </font></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">)</font></td></tr> <tr bgcolor="white"><td style="padding-bottom: 4px;" valign="bottom" align="left" width="58%"> <div style="display: block; margin-left: 18pt; text-indent: -9pt; margin-right: 0pt;" align="left"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">Net available for borrowing as of September 30, 2010</font></div></td> <td style="padding-bottom: 4px;" valign="bottom" align="right" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td> <td style="border-bottom: black 3px double; text-align: left;" valign="bottom" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">$</font></td> <td style="border-bottom: black 3px double; text-align: right;" valign="bottom" width="9%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;">160,687</font></td> <td style="padding-bottom: 4px; text-align: left;" valign="bottom" nowrap="nowrap" width="1%"><font class="_mt" style="display: inline; font-size: 10pt; font-family: times new roman;"> </font></td></tr></table></div> <div style="display: block; text-indent: 0pt;"><br /></div> <div style="display: block; margin-left: 0pt; text-indent: 36pt; margin-right: 0pt; text-align: left;"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">Absent certain defined events of default under our debt instruments, and as long as our ratio of earnings before interest, taxes, depreciation and amortization to interest expense is in excess of two to one, our debt covenants do not restrict our ability to pay cash dividends at our current rate.</font></div></div></div></div></div></div> </div>

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<NonNumericTextHeader> Note 11: Debt Total debt outstanding was comprised of the following: (in </NonNumericTextHeader>

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<ElementDefenition> Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. </ElementDefenition>

<ElementReferences> Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 </ElementReferences>

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<HasScenarios> false </HasScenarios>

<MonetaryRoundingLevel> UnKnown </MonetaryRoundingLevel>

<SharesRoundingLevel> UnKnown </SharesRoundingLevel>

<PerShareRoundingLevel> UnKnown </PerShareRoundingLevel>

<HasPureData> false </HasPureData>

</InstanceReport>

8 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/22/24  Deluxe Corp.                      10-K       12/31/23  106:15M
 5/09/23  Deluxe Corp.                      S-8         5/09/23    5:53K                                    Toppan Merrill/FA
 2/24/23  Deluxe Corp.                      10-K       12/31/22  107:19M
 8/05/22  Deluxe Corp.                      S-8         8/05/22    9:286K                                   Toppan Merrill/FA
 5/13/22  Deluxe Corp.                      S-8         5/13/22    5:84K                                    Toppan Merrill/FA
 5/13/22  Deluxe Corp.                      S-3ASR      5/13/22    8:1.4M                                   Toppan Merrill/FA
 2/28/22  Deluxe Corp.                      10-K       12/31/21  111:21M
 2/19/21  Deluxe Corp.                      10-K       12/31/20  116:20M

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Filing Submission 0001140361-10-043000 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Deluxe Corp – ‘10-Q’ for 9/30/10 – ‘XML.R16’

On: Monday, 11/1/10, at 9:56pm ET · As of: 11/2/10 · For: 9/30/10 · Accession #: 1140361-10-43000 · File #: 1-07945

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘XML.R16’ — Debt

This Financial Report is an XBRL XML File.

8 Subsequent Filings that Reference this Filing

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents