XML 43 R31.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information (Tables)
6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Reconciliation of Operating Profit from Segments to Consolidated

Financial information for the three and six months ended June 30, 2020 and 2019 related to the Company's reportable segments, including a reconciliation from segment operating earnings to income before income taxes, the most directly comparable GAAP financial measure, is presented below:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(in thousands)

 

June 30,

2020

 

 

June 30,

2019

 

 

June 30,

2020

 

 

June 30,

2019

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Crawford Claims Solutions

 

$

81,451

 

 

$

86,003

 

 

$

159,038

 

 

$

169,322

 

Crawford TPA Solutions

 

 

86,725

 

 

 

99,518

 

 

 

183,660

 

 

 

197,312

 

Crawford Specialty Solutions

 

 

66,240

 

 

 

71,360

 

 

 

129,249

 

 

 

137,305

 

Total segment revenues before reimbursements

 

 

234,416

 

 

 

256,881

 

 

 

471,947

 

 

 

503,939

 

Reimbursements

 

 

8,459

 

 

 

10,965

 

 

 

16,974

 

 

 

20,284

 

Total revenues

 

$

242,875

 

 

$

267,846

 

 

$

488,921

 

 

$

524,223

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Operating Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Crawford Claims Solutions

 

$

2,789

 

 

$

1,710

 

 

$

(890

)

 

$

1,397

 

Crawford TPA Solutions

 

 

3,171

 

 

 

5,026

 

 

 

9,456

 

 

 

11,759

 

Crawford Specialty Solutions

 

 

13,993

 

 

 

12,612

 

 

 

20,950

 

 

 

24,807

 

Total segment operating earnings

 

 

19,953

 

 

 

19,348

 

 

 

29,516

 

 

 

37,963

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deduct:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unallocated corporate and shared costs, net

 

 

(1,709

)

 

 

3,170

 

 

 

(4,259

)

 

 

(744

)

Net corporate interest expense

 

 

(2,452

)

 

 

(2,468

)

 

 

(4,676

)

 

 

(5,184

)

Stock option expense

 

 

(286

)

 

 

(413

)

 

 

(576

)

 

 

(898

)

Amortization of customer-relationship intangible assets

 

 

(2,732

)

 

 

(2,802

)

 

 

(5,488

)

 

 

(5,600

)

Goodwill impairment

 

 

 

 

 

 

 

 

(17,674

)

 

 

 

Restructuring costs

 

 

 

 

 

 

 

 

(5,714

)

 

 

 

Arbitration and claim settlements

 

 

 

 

 

(11,352

)

 

 

 

 

 

(11,352

)

Loss on disposition of business

 

 

(341

)

 

 

 

 

 

(341

)

 

 

 

Income (Loss) before income taxes

 

$

12,433

 

 

$

5,483

 

 

$

(9,212

)

 

$

14,185

 

Schedule of Revenues By Major Service Line

Revenues before reimbursements by major service line in the Crawford TPA Solutions segment, which operates under the Broadspire brand globally, and the Crawford Specialty Solutions segment are shown in the following table. The Company considers all Crawford Claims Solutions revenues to be derived from one service line.

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(in thousands)

 

June 30,

2020

 

 

June 30,

2019

 

 

June 30,

2020

 

 

June 30,

2019

 

Crawford TPA Solutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Claims Management Services

 

$

52,150

 

 

$

55,734

 

 

$

107,016

 

 

$

112,645

 

Medical Management Services

 

 

34,575

 

 

 

43,784

 

 

 

76,644

 

 

 

84,667

 

Total Revenues before Reimbursements--Crawford TPA Solutions

 

$

86,725

 

 

$

99,518

 

 

$

183,660

 

 

$

197,312

 

Crawford Specialty Solutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Technical Services

 

$

45,470

 

 

$

45,265

 

 

$

89,378

 

 

$

89,638

 

Contractor Connection

 

 

20,770

 

 

 

26,095

 

 

 

39,871

 

 

 

47,667

 

Total Revenues before Reimbursements--Crawford Specialty Solutions

 

$

66,240

 

 

$

71,360

 

 

$

129,249

 

 

$

137,305