Business Context and Reporting Period
Company: Deluxe Corp
Filing Type: Form 8-K (Current Report)
Date of Report: November 22, 2011
Reporting Period: This filing relates to a private placement of debt issued in March 2011 and provides supplemental historical financial information for guarantors as of December 31, 2010.
Key Financial Metrics
This filing does not report current period revenue, profit, cash flow, or operating margins. The primary financial metric disclosed is the issuance of debt:
- Debt Issuance: $200.0 million of 7.00% senior notes.
- Maturity Date: March 15, 2019.
- Guarantees: Obligations are jointly and severally guaranteed on a full and unconditional basis by existing and future direct and indirect subsidiaries.
The filing incorporates recasted historical financial statements for guarantors but explicitly states these do not represent a restatement of previously issued consolidated financial statements and have no impact on historical consolidated financial position, results of operations, or cash flows.
Material Changes
The filing discloses the addition of "Note 18: Supplemental guarantor financial information" to the notes previously contained in the Annual Report on Form 10-K for the year ended December 31, 2010. No other material changes to the company's consolidated financial position or results of operations are reported in this document.
Guidance, Outlook, and Risks
Management Commentary: The company states that the information contained in the exhibits does not reflect events occurring after the filing of the Form 10-K for the year ended December 31, 2010. It does not modify or update disclosures in the Form 10-K except for the specific addition of the guarantor financial information.
Risks and Contingencies: The filing notes that significant developments with respect to disclosures in the 2010 Form 10-K, as well as other changes in the business, may have occurred subsequent to that filing and would be described in subsequent SEC filings.
Investor Verification Checklist
- Verify the terms of the $200.0 million 7.00% senior notes issued in March 2011.
- Review Exhibit 99.1 for the specific recasted historical financial statements of the Guarantors.
- Check subsequent SEC filings for any significant developments or changes in business operations occurring after December 31, 2010.
- Confirm that the recasted information does not alter the previously reported consolidated financial results.