Net Income (Loss) Attributable to Shareholders of Crawford & Company per Common Share (Tables)

3 Months Ended

Mar. 31, 2021

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:

	Three Months Ended
	March 31, 2021				March 31, 2020
(in thousands, except per share amounts)	CRD-A		CRD-B		CRD-A			CRD-B
Earnings (Loss) per share - basic:
Numerator:
Allocation of undistributed earnings (loss)	$	1,658	$	1,208	$	(8,436	)	$	(6,232	)
Dividends paid		1,851		1,347		2,140			1,129
Net income (loss) attributable to common shareholders, basic	$	3,509	$	2,555	$	(6,296	)	$	(5,103	)

Denominator:
Weighted-average common shares outstanding, basic		30,824		22,464		30,562			22,578
Earnings (loss) per share - basic	$	0.11	$	0.11	$	(0.21	)	$	(0.23	)

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

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

	Three Months Ended
	March 31, 2021				March 31, 2020
(in thousands, except per share amounts)	CRD-A		CRD-B		CRD-A			CRD-B
Earnings (Loss) per share - diluted:
Numerator:
Allocation of undistributed earnings (loss)	$	1,664	$	1,202	$	(8,436	)	$	(6,232	)
Dividends paid		1,851		1,347		2,140			1,129
Net income (loss) attributable to common shareholders, diluted	$	3,515	$	2,549	$	(6,296	)	$	(5,103	)

Denominator:
Weighted-average common shares outstanding, basic		30,824		22,464		30,562			22,578
Weighted-average effect of dilutive securities		282		—		—			—
Weighted-average common shares outstanding, diluted		31,106		22,464		30,562			22,578
Earnings (loss) per share - diluted	$	0.11	$	0.11	$	(0.21	)	$	(0.23	)

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

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

	Three Months Ended
(in thousands)	March 31, 2021		March 31, 2020
Shares underlying stock options excluded		972		1,904
Performance stock grants excluded because performance conditions have not been met ⁽¹⁾		929		932

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

Schedule of Shares Issued and Included in Weighted-average Common Shares used to Compute Basic and Diluted Earnings per Share

The following table details shares issued during the three months ended March 31, 2021 and 2020. These shares are included from their dates of issuance in the weighted-average common shares used to compute basic and diluted earnings per share for CRD-A in the table above. There were no shares of CRD-B issued during any of these periods.

	Three Months Ended
(in thousands)	March 31, 2021		March 31, 2020
CRD-A issued under the Non-Employee Director Stock Plan		92		81
CRD-A issued under the U.K. ShareSave Scheme		1		1