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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the Company's assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy:

December 31,		2020
		Quoted Prices in Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
		(In thousands)
Assets:
Money market funds (1)		$	10,026			$	—			$	—			$	10,026
Liabilities:
Contingent earnout liability (2)			—				—				6,151				6,151

December 31,		2019
		Level 1				Level 2				Level 3				Total
		(In thousands)
Assets:
Money market funds (1)		$	10,028			$	—			$	—			$	10,028
Liabilities:
Contingent earnout liability (2)			—				—				454				454

⁽¹⁾ The fair values of the money market funds were based on recently quoted market prices and reported transactions in an active marketplace. Money market funds are included on the Company's Consolidated Balance Sheets in "Cash and cash equivalents."

^{(2) The contingent earnout liability relates to businesses acquired during 2020 and 2019 by the Crawford Specialty Solutions and Crawford TPA Solutions operating segments. See Note 3, "Business Acquisitions and Dispositions" for further details. The fair value of the contingent earnout liability was estimated using internally-prepared revenue projections which is Level 3 data, with the maximum possible earnout of $12,090,000. The fair value of the contingent earnout liability is included in "Other noncurrent liabilities" on the Company's Consolidated Balance Sheets, based upon the term of the contingent earnout agreement.}

Pension Plan Assets within Fair Value Hierarchy

The following table summarizes the level within the fair value hierarchy used to determine the fair value of the Company's pension plan assets for its U.S Qualified Plan at December 31, 2020 and 2019:

December 31,		2020																2019
		Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
		(In thousands)
Asset Category:
Cash and cash equivalents		$	2,861			$	—			$	—			$	2,861			$	8,082			$	—			$	—			$	8,082
Short-term investment funds			—				9,827				—				9,827				—				5,496				—				5,496
Common collective equity funds:															—
U.S.			—				66,145				—				66,145				—				60,039				—				60,039
International			—				28,529				—				28,529				—				26,142				—				26,142
Common collective fixed income funds and fixed income securities:															—
U.S.			36,007				207,219				—				243,226				51,247				224,747				—				275,994
International			—				28,501				—				28,501				—				3,745				—				3,745
Alternative strategy funds			—				9,248				15,938				25,186				—				8,880				14,766				23,646
Total plan assets		$	38,868			$	349,469			$	15,938				404,275			$	59,329			$	329,049			$	14,766				403,144
Other plan liabilities, net (a)															(7,336	)															(26,220	)
Net plan assets														$	396,939															$	376,924

(a) net amounts payable for unsettled security transactions.

The following table summarizes the level within the fair value hierarchy used to determine the fair value of the Company's pension plan assets for its U.K. plans at December 31, 2020 and 2019:

December 31,		2020																2019
		Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
		(In thousands)
Asset Category:
Cash and cash equivalents		$	2,613			$	—			$	—			$	2,613			$	2,338			$	—			$	—			$	2,338
Common collective equity funds:
U.S.			—				44,461				—				44,461				—				43,613				—				43,613
International			—				7,510				—				7,510				—				9,418				—				9,418
Common collective fixed income funds and fixed income securities:
Short-term investment funds:			—				162,276				—				162,276				—				167,741				—				167,741
Government securities			—				42,564				—				42,564				—				34,926				—				34,926
Alternative strategy funds			—				34,958				—				34,958				—				29,172				—				29,172
Real estate funds			—				—				9,572				9,572				—				—				9,735				9,735
Total plan assets		$	2,613			$	291,769			$	9,572			$	303,954			$	2,338			$	284,870			$	9,735			$	296,943

Reconciliation Of Level 3 Assets

The following table provides a reconciliation of the beginning and ending balance of Level 3 assets within the Company's U.S. and U.K. pension plans during the years ended December 31, 2020 and 2019:

		U.S				U.K.
		(in thousands)
Balance at December 31, 2018		$	16,488			$	9,945
Actual return on plan assets:
Related to assets still held at the reporting date			(1,722	)			(210	)
Balance at December 31, 2019			14,766				9,735
Actual return on plan assets:
Related to assets still held at the reporting date			1,172				(163	)
Balance at December 31, 2020		$	15,938			$	9,572

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
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