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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

The following table shows the changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2020:

 

 

 

Loss Adjusting

 

 

Crawford TPA Solutions

 

 

Platform Solutions

 

 

Total

 

 

 

(In thousands)

 

Balance at December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

86,025

 

 

$

168,734

 

 

$

44,381

 

 

$

299,140

 

Accumulated impairment losses

 

 

(50,587

)

 

 

(159,424

)

 

 

(8,487

)

 

 

(218,498

)

Net goodwill

 

 

35,438

 

 

 

9,310

 

 

 

35,894

 

 

 

80,642

 

2020 Activity:

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill of acquired businesses

 

 

2,644

 

 

 

2,857

 

 

 

 

 

 

5,501

 

Impairment of goodwill

 

 

(17,674

)

 

 

 

 

 

 

 

 

(17,674

)

Goodwill of disposed business

 

 

(1,990

)

 

 

 

 

 

 

 

 

(1,990

)

Foreign currency effects

 

 

79

 

 

 

12

 

 

 

(33

)

 

 

58

 

Balance at December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

86,758

 

 

 

171,603

 

 

 

44,348

 

 

 

302,709

 

Accumulated impairment losses

 

 

(68,261

)

 

 

(159,424

)

 

 

(8,487

)

 

 

(236,172

)

Net goodwill

 

 

18,497

 

 

 

12,179

 

 

 

35,861

 

 

 

66,537

 

2021 Activity:

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill of acquired businesses

 

 

14,371

 

 

 

6,244

 

 

 

26,195

 

 

 

46,810

 

Adjustments to prior acquisitions

 

 

1,074

 

 

 

1,163

 

 

 

 

 

 

2,237

 

Foreign currency effects

 

 

358

 

 

 

452

 

 

 

132

 

 

 

942

 

Balance at December 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

102,561

 

 

 

179,462

 

 

 

70,675

 

 

 

352,698

 

Accumulated impairment losses

 

 

(68,261

)

 

 

(159,424

)

 

 

(8,487

)

 

 

(236,172

)

Net goodwill

 

$

34,300

 

 

$

20,038

 

 

$

62,188

 

 

$

116,526

 

Schedule of Finite-Lived Intangible Assets

The following is a summary of finite-lived intangible assets acquired through business acquisitions as of December 31, 2021 and 2020:

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

 

Weighted-
Average
Amortization
Period

 

 

(In thousands, except years)

 

 

 

December 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

160,652

 

 

$

(111,241

)

 

$

49,411

 

 

9.3 years

Technology-based

 

 

22,293

 

 

 

(11,547

)

 

 

10,746

 

 

6.4 years

Trade name

 

 

6,393

 

 

 

(2,169

)

 

 

4,224

 

 

7.0 years

Other

 

 

7,944

 

 

 

(5,706

)

 

 

2,238

 

 

4.6 years

Total

 

$

197,283

 

 

$

(130,663

)

 

$

66,619

 

 

8.2 years

December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

131,948

 

 

$

(101,319

)

 

$

30,629

 

 

3.3 years

Technology-based

 

 

18,183

 

 

 

(10,174

)

 

 

8,009

 

 

6.5 years

Trade name

 

 

3,123

 

 

 

(1,737

)

 

 

1,386

 

 

6.0 years

Other

 

 

5,794

 

 

 

(5,489

)

 

 

305

 

 

10.1 years

Total

 

$

159,048

 

 

$

(118,719

)

 

$

40,329

 

 

6.7 years

Schedule of Finite-lived Intangible Assets, Future Amortization Expense

At December 31, 2021, annual estimated aggregate amortization expense for intangible assets subject to amortization for the next five years is as follows:

 

 

 

Annual
Amortization
Expense

 

Year Ending December 31,

 

(In thousands)

 

2022

 

$

8,224

 

2023

 

 

7,874

 

2024

 

 

7,715

 

2025

 

 

7,438

 

2026

 

 

7,146

 

Schedule of Indefinite-Lived Intangible Assets

The following is a summary of indefinite-lived intangible assets at December 31, 2021 and 2020:

 

 

 

Gross Carrying
Amount

 

 

Accumulated
Impairments

 

 

Net Carrying
Value

 

 

 

(In thousands)

 

December 31, 2021:

 

 

 

 

 

 

 

 

 

Trade names

 

$

32,608

 

 

$

(1,656

)

 

$

30,952

 

December 31, 2020:

 

 

 

 

 

 

 

 

 

Trade names

 

$

32,503

 

 

$

(1,656

)

 

$

30,847