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Net Income Attributable to Shareholders of Crawford & Company per Common Share (Tables)
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
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,
2023

 

 

March 31,
2022

 

(in thousands, except per share amounts)

 

CRD-A

 

 

CRD-B

 

 

CRD-A

 

 

CRD-B

 

Earnings per share - basic:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of undistributed earnings

 

$

4,594

 

 

$

3,161

 

 

$

1,185

 

 

$

797

 

Dividends paid

 

 

1,735

 

 

 

1,191

 

 

 

1,865

 

 

 

1,249

 

Net income attributable to common shareholders, basic

 

$

6,329

 

 

$

4,352

 

 

$

3,050

 

 

$

2,046

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding, basic

 

 

28,841

 

 

 

19,848

 

 

 

30,908

 

 

 

20,780

 

Earnings per share - basic

 

$

0.22

 

 

$

0.22

 

 

$

0.10

 

 

$

0.10

 
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:

 

 

 

Three Months Ended

 

 

 

March 31,
2023

 

 

March 31,
2022

 

(in thousands, except per share amounts)

 

CRD-A

 

 

CRD-B

 

 

CRD-A

 

 

CRD-B

 

Earnings per share - diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of undistributed earnings

 

$

4,613

 

 

$

3,142

 

 

$

1,189

 

 

$

793

 

Dividends paid

 

 

1,735

 

 

 

1,191

 

 

 

1,865

 

 

 

1,249

 

Net income attributable to common shareholders, diluted

 

$

6,348

 

 

$

4,333

 

 

$

3,054

 

 

$

2,042

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding, basic

 

 

28,841

 

 

 

19,848

 

 

 

30,908

 

 

 

20,780

 

Weighted-average effect of dilutive securities

 

 

300

 

 

 

—

 

 

 

260

 

 

 

—

 

Weighted-average common shares outstanding, diluted

 

 

29,141

 

 

 

19,848

 

 

 

31,168

 

 

 

20,780

 

Earnings per share - diluted

 

$

0.22

 

 

$

0.22

 

 

$

0.10

 

 

$

0.10

 
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,
2023

 

March 31,
2022

Shares underlying stock options excluded

 

1,532

 

1,542

Performance stock grants excluded because performance conditions have not been met (1)

 

758

 

625

 

(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, 2023 and 2022, including restricted shares that were returned prior to vesting. 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,
2023

 

 

March 31,
2022

 

CRD-A issued under the Non-Employee Director Stock Plan

 

 

134

 

 

 

94

 

CRD-A issued under the Employee Stock Purchase Plan

 

 

27

 

 

 

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