Shares of the Company's two classes of common stock are traded on the NYSE under the symbols CRD-A and CRD-B, respectively. The Company's two classes of stock are substantially identical, except with respect to voting rights and the Company's ability to pay greater cash dividends on the non-voting Class A Common Stock than on the voting Class B Common Stock, subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of Class A Common Stock must receive the same type and amount of consideration as holders of Class B Common Stock, unless different consideration is approved by the holders of 75% of the Class A Common Stock, voting as a class. As described in Note 11, "Stock-Based Compensation," certain shares of CRD-A are issued with restrictions under incentive compensation plans.

The Company's share repurchase authorization, approved in July 2017 (the "2017 Repurchase Authorization"), provided the Company with the ability to repurchase up to 2,000,000 shares of CRD-A or CRD-B (or both). The 2017 Repurchase Authorization was terminated on May 8, 2019.

Effective May 9, 2019, the Company's Board of Directors authorized the repurchase of up to 2,000,000 shares of CRD-A or CRD-B (or a combination of the two) through December 31, 2020 (the "2019 Repurchase Authorization"). On December 10, 2020, the Company’s Board of Directors extended the termination date of the Company’s 2019 share repurchase authorization (“2019 Repurchase Authorization”) to December 31, 2021. Under the 2019 Repurchase Authorization, repurchases may be made for cash, in the open market or privately negotiated transactions at such times and for such prices as management deems appropriate, subject to applicable contractual and regulatory restrictions.

Through December 31, 2020, the Company had repurchased 155,351 shares of CRD-A and 161,459 shares of CRD-B at an average cost of $8.42. At December 31, 2020, the Company had remaining authorization to repurchase 642,097 shares under the 2019 Repurchase Authorization.

Through December 31, 2019, the Company had repurchased 1,103,398 shares of CRD-A and 1,736,011 shares of CRD-B at an average cost of $9.33 and $9.17, respectively, of which 421,427 shares of CRD-A and 1,376,889 shares of CRD-B were purchased pursuant to a stock purchase agreement authorized by the Board of Directors separate from the 2017 Repurchase Authorization and the 2019 Repurchase Authorization. At December 31, 2019, the Company had remaining authorization to repurchase 958,907 shares under the 2019 Repurchase Authorization.

The Company computes earnings per share of CRD-A and CRD-B using the two-class method, which allocates the undistributed earnings for each period to each class on a proportionate basis. The Company's Board of Directors has the right, but not the obligation, to declare higher dividends on CRD-A than on CRD-B, subject to certain limitations. In periods when the dividend is the same for CRD-A and CRD-B or when no dividends are declared or paid to either class, the two-class method generally will yield the same earnings per share for CRD-A and CRD-B. During 2020, 2019 and 2018, the Board of Directors declared a higher dividend on CRD-A than on CRD-B.

The computations of basic net income attributable to shareholders of Crawford & Company per common share were as follows:

Year Ended December 31,	2020				2019						2018
	CRD-A		CRD-B		CRD-A			CRD-B			CRD-A		CRD-B
	(In thousands, except earnings per share)
Earnings per share - basic:
Numerator:
Allocation of undistributed earnings (loss)	$	10,743	$	7,908	$	(392	)	$	(294	)	$	6,941	$	5,509
Dividends paid		5,815		3,830		8,592			4,579			8,639		4,889
Net income available to common shareholders, basic		16,558		11,738		8,200			4,285			15,580		10,398
Denominator:
Weighted-average common shares outstanding, basic		30,605		22,527		30,637			22,975			30,805		24,449
Earnings per share - basic	$	0.54	$	0.52	$	0.27		$	0.19		$	0.51	$	0.43

The computations of diluted net income attributable to shareholders of Crawford & Company per common share were as follows:

Year Ended December 31,	2020				2019						2018
	CRD-A		CRD-B		CRD-A			CRD-B			CRD-A		CRD-B
	(In thousands, except earnings per share)
Earnings per share - diluted:
Numerator:
Allocation of undistributed earnings (loss)	$	10,781	$	7,870	$	(394	)	$	(292	)	$	7,003	$	5,447
Dividends paid		5,815		3,830		8,592			4,579			8,639		4,889
Net income available to common shareholders, diluted		16,596		11,700		8,198			4,287			15,642		10,336
Denominator:
Weighted-average common shares outstanding, basic		30,605		22,527		30,637			22,975			30,805		24,449
Weighted-average effect of dilutive securities ⁽¹⁾		252		—		453			—			629		—
Weighted-average number of shares outstanding, diluted		30,857		22,527		31,090			22,975			31,434		24,449
Earnings per share - diluted	$	0.54	$	0.52	$	0.26		$	0.19		$	0.50	$	0.42

Listed below are the shares excluded from the denominator in the above computation of diluted earnings per share for CRD-A because their inclusion would have been anti-dilutive: