XML 50 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

The majority of the Company's defined benefit pension plans have projected benefit obligations in excess of the fair value of plan assets. For these plans, the projected benefit obligations and the fair value of plan assets were as follows as of December 31, 2023 and 2022:

December 31,		2023				2022
		(In thousands)
Projected benefit obligations		$	311,336			$	331,099
Fair value of plans' assets			285,243				302,854

Schedule Of Fair Value Of Plan Assets In Excess Of Benefit Obligations Table Text Block

Certain of the Company's U.K. Plans have fair values of plan assets that exceed the projected benefit obligations. For these plans, and certain Other International Plans, the projected benefit obligations and the fair value of plan assets were as follows as of December 31, 2023 and 2022:

December 31,		2023				2022
		(In thousands)
Projected benefit obligations		$	146,960			$	154,474
Fair value of plans' assets			157,914				174,874

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

A reconciliation of the beginning and ending balances of the projected benefit obligations and the fair value of plans' assets for the Company's defined benefit pension plans as of the plans' most recent measurement dates is as follows:

Year Ended December 31,		2023				2022
		(In thousands)
Projected Benefit Obligations:
Beginning of measurement period		$	485,573			$	730,315
Service cost			1,423				1,219
Interest cost			23,915				12,903
Employee contributions			23				22
Actuarial gain			(11,023	)			(160,945	)
Plan settlements			—				(1,780	)
Benefits paid			(51,232	)			(44,566	)
Foreign currency effects			9,617				(51,595	)
End of measurement period			458,296				485,573
Fair Value of Plans' Assets:
Beginning of measurement period			477,728				739,789
Actual return on plans' assets			2,712				(161,284	)
Employer contributions			3,265				1,506
Employee contributions			23				22
Plan settlements			—				(1,659	)
Benefits paid			(51,232	)			(44,566	)
Foreign currency effects			10,661				(56,080	)
End of measurement period			443,157				477,728
Unfunded Status		$	(15,139	)		$	(7,845	)

Schedule of Net Funded Status

The funded status of the Company's defined benefit pension plans recognized in the Consolidated Balance Sheets at December 31 consisted of:

December 31,		2023				2022
		(In thousands)
U.S. Qualified Plan		$	22,317			$	24,311
Other international plans			1,688				1,602
Subtotal, included in "Accrued pension liabilities"			24,006				25,913
U.K. prepaid pension asset included in "Other noncurrent assets"			(10,876	)			(20,401	)
Other international plans			(78	)			—
Subtotal, included in "Other noncurrent assets"			(10,954	)			(20,401	)
Unfunded status of nonqualified defined benefit deferred pension plans included in "Other accrued liabilities"			230				233
Unfunded status of nonqualified defined benefit pension plans included in "Other noncurrent liabilities"			1,858				2,100
Total underfunded status		$	15,139			$	7,845
Accumulated other comprehensive loss, before income taxes		$	(261,102	)		$	(256,695	)

Schedule of Net Unrecognized Actuarial Gain (loss)

The following tables set forth the changes in accumulated other comprehensive loss during 2023 and 2022 for the Company's defined benefit retirement plans on a combined basis:

		Defined Benefit Pension Plans
		(In thousands)
Net unrecognized actuarial loss, December 31, 2021		$	(251,629	)
Amortization of net loss			10,320
Net loss arising during the year			(24,939	)
Currency translation			9,553
Net unrecognized actuarial loss, December 31, 2022			(256,695	)
Amortization of net loss			12,019
Net loss arising during the year			(13,432	)
Currency translation			(2,993	)
Net unrecognized actuarial loss, December 31, 2023		$	(261,102	)

Schedule of Defined Benefit Plans Disclosures

Net periodic benefit (credit) cost related to all of the Company's defined benefit pension plans recognized in the Company's Consolidated Statements of Operations for the years ended December 31, 2023, 2022, and 2021 included the following components:

Year Ended December 31,		2023				2022				2021
		(In thousands)
Service cost		$	1,423			$	1,219			$	1,208
Interest cost			23,915				12,903				11,321
Expected return on assets			(27,168	)			(24,600	)			(25,248	)
Amortization of actuarial loss			12,020				10,198				10,455
Net periodic benefit cost (credit)		$	10,190			$	(280	)		$	(2,264	)

Schedule of Expected Benefit Payments

Over the next ten years, the following benefit payments are expected to be required to be made from the Company's U.S. and U.K. defined benefit pension plans:

Year Ending December 31,		Expected Benefit Payments
		(In thousands)
2024		$	35,700
2025			35,752
2026			35,430
2027			35,126
2028			35,062
2029-2033			163,913

Schedule of Assumptions Used

Certain assumptions used in computing the benefit obligations and net periodic benefit cost for the U.S. and U.K. defined benefit pension plans were as follows:

U.S. Qualified Plan:		2023				2022
Discount rate used to compute benefit obligations			4.94	%			5.13	%
Discount rate used to compute periodic benefit cost			5.13	%			2.77	%
Expected long-term rates of return on plans' assets			6.20	%			4.80	%

U.K. Defined Benefit Plans:		2023				2022
Discount rate used to compute benefit obligations			5.78	%			4.93	%
Discount rate used to compute periodic benefit cost			4.93	%			1.82	%
Expected long-term rates of return on plans' assets			5.40	%			2.40	%

Schedule of Allocation of Plan Assets

Asset allocations at the respective measurement dates, by asset category, for the Company's U.S. and U.K. qualified defined benefit pension plans were as follows:

		U.S. Qualified Plan								U.K. Plans
December 31,		2023				2022				2023				2022
Equity securities			14.6	%			13.2	%			—				—
Fixed income securities			75.8	%			73.5	%			74.1	%			71.9	%
Alternative strategies			4.6	%			7.6	%			24.4	%			26.7	%
Cash, cash equivalents and short-term investment funds			5.0	%			5.7	%			1.5	%			1.4	%
Total asset allocation			100.0	%			100.0	%			100.0	%			100.0	%

X

- Definition

Schedule of Fair Value of Plan Assets in Excess of Benefit Obligations [Table Text Block]

+ References

No definition available.

+ Details

Name:	crda_ScheduleOfFairValueOfPlanAssetsInExcessOfBenefitObligationsTableTextBlock
Namespace Prefix:	crda_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-3

+ Details

Name:	us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (d)(5)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-3

+ Details

Name:	us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 715
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-4

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-2

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (f)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of net funded status of pension plans and/or other employee benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration