Common Stock and Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Computations of Basic Net Income Attributable to Shareholders of Crawford & Company per Common Share

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

Schedule of Computations of Diluted Net Income Attributable to Shareholders of Crawford & Company per Common Share

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

Schedule of Antidilutive Shares Excluded from Computation of Diluted Earnings per Share

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:

Year Ended December 31,	2020		2019		2018
	(In thousands)
Shares underlying stock options excluded due to the options' respective exercise prices being greater than the average stock price during the period		1,996		622		1,175
Performance stock grants excluded because performance conditions had not been met ⁽¹⁾		578		717		752

⁽¹⁾	Compensation cost is recognized for these performance stock grants based on expected achievement rates; however no consideration is given for these performance stock grants when calculating earnings per share until the performance measurements are actually achieved.