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Segment Information (Tables)
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Reconciliation of Operating Profit from Segments to Consolidated

Financial information for the three and nine months ended September 30, 2021 and 2020 related to the Company's reportable segments, including a reconciliation from segment operating earnings to income before income taxes, the most directly comparable GAAP financial measure, is presented below:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

(in thousands)

 

September 30,
2021

 

 

September 30,
2020

 

 

September 30,
2021

 

 

September 30,
2020

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Crawford Loss Adjusting

 

$

123,965

 

 

$

110,929

 

 

$

352,458

 

 

$

327,095

 

Crawford TPA Solutions

 

 

100,221

 

 

 

88,908

 

 

 

298,840

 

 

 

275,573

 

Crawford Platform Solutions

 

 

64,314

 

 

 

53,287

 

 

 

157,840

 

 

 

122,403

 

Total segment revenues before reimbursements

 

 

288,500

 

 

 

253,124

 

 

 

809,138

 

 

 

725,071

 

Reimbursements

 

 

9,062

 

 

 

8,545

 

 

 

27,124

 

 

 

25,519

 

Total revenues

 

$

297,562

 

 

$

261,669

 

 

$

836,262

 

 

$

750,590

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Operating Earnings

 

 

 

 

 

 

 

 

 

 

 

 

Crawford Loss Adjusting

 

$

7,063

 

 

$

14,139

 

 

$

18,124

 

 

$

24,854

 

Crawford TPA Solutions

 

 

5,034

 

 

 

4,288

 

 

 

14,465

 

 

 

13,708

 

Crawford Platform Solutions

 

 

10,968

 

 

 

10,655

 

 

 

25,937

 

 

 

20,939

 

Total segment operating earnings

 

 

23,065

 

 

 

29,082

 

 

 

58,526

 

 

 

59,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Deduct) Add:

 

 

 

 

 

 

 

 

 

 

 

 

Unallocated corporate and shared costs, net

 

 

(2,266

)

 

 

(1,027

)

 

 

(5,081

)

 

 

(6,189

)

Net corporate interest expense

 

 

(1,648

)

 

 

(1,599

)

 

 

(4,443

)

 

 

(6,275

)

Stock option expense

 

 

(296

)

 

 

(457

)

 

 

(700

)

 

 

(1,033

)

Amortization of customer-relationship intangible assets

 

 

(2,877

)

 

 

(3,665

)

 

 

(8,426

)

 

 

(9,153

)

Goodwill impairment

 

 

 

 

 

 

 

 

 

 

 

(17,674

)

Restructuring costs

 

 

 

 

 

 

 

 

 

 

 

(5,714

)

Gain on disposition of business, net

 

 

 

 

 

14,104

 

 

 

 

 

 

13,763

 

Income before income taxes

 

$

15,978

 

 

$

36,438

 

 

$

39,876

 

 

$

27,226

 

Schedule of Revenues By Major Service Line

Revenues before reimbursements by major service line in the Crawford TPA Solutions segment, which operates under the Broadspire brand globally, and the Crawford Platform Solutions segment are shown in the following table. The Company considers all Crawford Loss Adjusting revenues to be derived from one service line.

 

 

 

Three Months Ended

 

Nine Months Ended

(in thousands)

 

September 30,
2021

 

September 30,
2020

 

September 30,
2021

 

September 30,
2020

Crawford TPA Solutions

 

 

 

 

 

 

 

 

Claims Management Services

 

$62,743

 

$53,315

 

$186,886

 

$163,336

Medical Management Services

 

37,478

 

35,593

 

111,954

 

112,237

Total Revenues before Reimbursements--Crawford TPA Solutions

 

$100,221

 

$88,908

 

$298,840

 

$275,573

Crawford Platform Solutions

 

 

 

 

 

 

 

 

Contractor Connection

 

$23,621

 

$23,542

 

$69,046

 

$63,328

Network Business

 

40,693

 

29,745

 

88,794

 

59,075

Total Revenues before Reimbursements--Crawford Platform Solutions

 

$64,314

 

$53,287

 

$157,840

 

$122,403