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Segment Information (Tables)
3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Schedule of Reconciliation of Operating Profit from Segment operating earnings to income before income taxes

Financial information for the three months ended March 31, 2023 and 2022 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

 

(in thousands)

 

March 31,
2023

 

 

March 31,
2022

 

Revenues:

 

 

 

 

 

 

North America Loss Adjusting

 

$

77,127

 

 

$

64,438

 

International Operations

 

 

91,863

 

 

 

89,272

 

Broadspire

 

 

81,182

 

 

 

76,454

 

Platform Solutions

 

 

62,820

 

 

 

48,861

 

Total segment revenues before reimbursements

 

 

312,992

 

 

 

279,025

 

Reimbursements

 

 

11,604

 

 

 

8,764

 

Total revenues

 

$

324,596

 

 

$

287,789

 

 

 

 

 

 

 

Segment Operating Earnings (Loss)

 

 

 

 

 

 

North America Loss Adjusting

 

$

8,065

 

 

$

4,135

 

International Operations

 

 

3,035

 

 

 

(3,067

)

Broadspire

 

 

7,927

 

 

 

6,434

 

Platform Solutions

 

 

9,966

 

 

 

8,038

 

Total segment operating earnings

 

 

28,993

 

 

 

15,540

 

 

 

 

 

 

 

Deduct:

 

 

 

 

 

 

Unallocated corporate and shared costs, net

 

 

(4,119

)

 

 

(2,995

)

Net corporate interest expense

 

 

(4,399

)

 

 

(1,519

)

Stock option expense

 

 

(156

)

 

 

(205

)

Amortization of customer-relationship intangible assets

 

 

(1,899

)

 

 

(1,726

)

Contingent earnout adjustments

 

 

(248

)

 

 

(2,056

)

Non-service pension (costs) credits

 

 

(2,171

)

 

 

543

 

Income before income taxes

 

$

16,001

 

 

$

7,582

 

Schedule of Revenues By Major Service Line

Revenues before reimbursements by major service line in the International Operations, Broadspire and Platform Solutions segments are shown in the following table. The Company considers all North America Loss Adjusting revenues to be primarily derived from one service line.

 

 

 

Three Months Ended

 

(in thousands)

 

March 31,
2023

 

 

March 31,
2022

 

International Operations

 

 

 

 

 

 

International Loss Adjusting

 

$

85,994

 

 

$

83,027

 

Crawford Legal Services

 

 

5,869

 

 

 

6,245

 

Total Revenues before Reimbursements--International Operations

 

$

91,863

 

 

$

89,272

 

 

 

 

 

 

 

 

Broadspire

 

 

 

 

 

 

Claims Management

 

$

40,236

 

 

$

39,551

 

Medical Management

 

 

40,946

 

 

 

36,903

 

Total Revenues before Reimbursements--Broadspire

 

$

81,182

 

 

$

76,454

 

 

 

 

 

 

 

 

Platform Solutions

 

 

 

 

 

 

Contractor Connection

 

$

19,301

 

 

$

15,263

 

Networks

 

 

37,403

 

 

 

27,526

 

Subrogation

 

 

6,116

 

 

 

6,072

 

Total Revenues before Reimbursements--Platform Solutions

 

$

62,820

 

 

$

48,861