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Accumulated Other Comprehensive Loss
3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]  
Accumulated Other Comprehensive Loss

8. Accumulated Other Comprehensive Loss

Comprehensive income (loss) for the Company consists of the total of net income, foreign currency translation adjustments, and accrued pension and retiree medical liability adjustments. Foreign currency translation adjustments include the net realized gains from intra-entity loans that are long-term in nature of $822,000 for the three months ended March 31, 2021, and losses of $(818,000) for the three months ended March 31, 2020. The changes in components of "Accumulated other comprehensive loss" ("AOCL"), net of taxes and noncontrolling interests, included in the Company's unaudited condensed consolidated financial statements were as follows:

 

 

 

Three Months Ended March 31, 2021

 

(in thousands)

 

Foreign

currency

translation

adjustments

 

 

Retirement

liabilities (1)

 

 

AOCL

attributable

to shareholders

of Crawford &

Company

 

Beginning balance

 

$

(30,792

)

 

$

(168,064

)

 

$

(198,856

)

Other comprehensive income before reclassifications

 

 

10,638

 

 

 

 

 

 

10,638

 

Amounts reclassified from accumulated other comprehensive income to net income

 

 

 

 

 

1,952

 

 

 

1,952

 

Net current period other comprehensive income

 

 

10,638

 

 

 

1,952

 

 

 

12,590

 

Ending balance

 

$

(20,154

)

 

$

(166,112

)

 

$

(186,266

)

 

 

 

Three Months Ended March 31, 2020

 

(in thousands)

 

Foreign

currency

translation

adjustments

 

 

Retirement

liabilities (1)

 

 

AOCL

attributable

to shareholders

of Crawford &

Company

 

Beginning balance

 

$

(35,850

)

 

$

(171,057

)

 

$

(206,907

)

Other comprehensive loss before reclassifications

 

 

(3,473

)

 

 

 

 

 

(3,473

)

Amounts reclassified from accumulated other comprehensive income to net income

 

 

 

 

 

1,928

 

 

 

1,928

 

Net current period other comprehensive (loss) income

 

 

(3,473

)

 

 

1,928

 

 

 

(1,545

)

Acquisition of noncontrolling interest

 

 

576

 

 

 

 

 

 

576

 

Ending balance

 

$

(38,747

)

 

$

(169,129

)

 

$

(207,876

)

 

(1)

Retirement liabilities reclassified to net income are related to the amortization of actuarial losses and are included in "Other Income (Expense), net" in the Company's unaudited Condensed Consolidated Statements of Operations. See Note 6, "Defined Benefit Pension Plans" for additional details.

The other comprehensive loss amounts attributable to noncontrolling interests presented in the Company's unaudited Condensed Consolidated Statements of Shareholders' Investment are foreign currency translation adjustments.