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Common Stock and Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2022

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:


Year Ended December 31,	2022						2021				2020
	CRD-A			CRD-B			CRD-A		CRD-B		CRD-A		CRD-B
	(In thousands, except earnings per share)
(Loss) earnings per share - basic:
Numerator:
Allocation of undistributed (loss) earnings	$	(17,850	)	$	(12,297	)	$	10,464	$	7,565	$	10,743	$	7,908
Dividends paid		7,012			4,830			7,376		5,287		5,815		3,830
Net (loss) income available to common shareholders, basic		(10,838	)		(7,467	)		17,840		12,852		16,558		11,738
Denominator:
Weighted-average common shares outstanding, basic		29,196			20,113			30,760		22,237		30,605		22,527
(Loss) earnings per share - basic	$	(0.37	)	$	(0.37	)	$	0.58	$	0.58	$	0.54	$	0.52

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

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


Year Ended December 31,	2022						2021				2020
	CRD-A			CRD-B			CRD-A		CRD-B		CRD-A		CRD-B
	(In thousands, except earnings (loss) per share)
(Loss) earnings per share - diluted:
Numerator:
Allocation of undistributed (loss) earnings	$	(17,850	)	$	(12,297	)	$	10,602	$	7,427	$	10,781	$	7,870
Dividends paid		7,012			4,830			7,376		5,287		5,815		3,830
Net (loss) income available to common shareholders, diluted		(10,838	)		(7,467	)		17,978		12,714		16,596		11,700
Denominator:
Weighted-average common shares outstanding, basic		29,196			20,113			30,760		22,237		30,605		22,527
Weighted-average effect of dilutive securities(1)		—			—			983		—		252		—
Weighted-average number of shares outstanding, diluted		29,196			20,113			31,743		22,237		30,857		22,527
(Loss) earnings per share - diluted	$	(0.37	)	$	(0.37	)	$	0.57	$	0.57	$	0.54	$	0.52

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

Listed below are the shares excluded from the denominator in the above computation of diluted (loss) earnings per share for CRD-A because their inclusion would have been anti-dilutive:


Year Ended December 31,	2022		2021		2020
	(In thousands)
Shares underlying stock options excluded due to the options' respective exercise prices being greater than the average stock price during the period		1,542		838		1,996
Performance stock grants excluded because performance conditions had not been met(1)		789		335		578

(1)

Compensation cost is recognized for these performance stock grants based on expected achievement rates; however no consideration is given for these performance stock grants when calculating earnings per share until the performance measurements are actually achieved.