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Common Stock and Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2023

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

The computations of basic net income (loss) attributable to shareholders of Crawford & Company per common share were as follows:


Year Ended December 31,	2023				2022						2021
	CRD-A		CRD-B		CRD-A			CRD-B			CRD-A		CRD-B
	(In thousands, except earnings (loss) per share)
Earnings (loss) per share - basic:
Numerator:
Allocation of undistributed earnings (loss)	$	10,649	$	7,259	$	(17,850	)	$	(12,297	)	$	10,464	$	7,565
Dividends paid		7,554		5,147		7,012			4,830			7,376		5,287
Net income (loss) available to common shareholders, basic		18,203		12,406		(10,838	)		(7,467	)		17,840		12,852
Denominator:
Weighted-average common shares outstanding, basic		29,039		19,796		29,196			20,113			30,760		22,237
Earnings (loss) per share - basic	$	0.63	$	0.63	$	(0.37	)	$	(0.37	)	$	0.58	$	0.58

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

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


Year Ended December 31,	2023				2022						2021
	CRD-A		CRD-B		CRD-A			CRD-B			CRD-A		CRD-B
	(In thousands, except earnings (loss) per share)
Earnings (loss) per share - diluted:
Numerator:
Allocation of undistributed earnings (loss)	$	10,760	$	7,148	$	(17,850	)	$	(12,297	)	$	10,602	$	7,427
Dividends paid		7,554		5,147		7,012			4,830			7,376		5,287
Net income (loss) available to common shareholders, diluted		18,314		12,295		(10,838	)		(7,467	)		17,978		12,714
Denominator:
Weighted-average common shares outstanding, basic		29,039		19,796		29,196			20,113			30,760		22,237
Weighted-average effect of dilutive securities(1)		760		—		—			—			983		—
Weighted-average number of shares outstanding, diluted		29,799		19,796		29,196			20,113			31,743		22,237
Earnings (loss) per share - diluted	$	0.61	$	0.62	$	(0.37	)	$	(0.37	)	$	0.57	$	0.57

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 earnings (loss) per share for CRD-A because their inclusion would have been anti-dilutive:


Year Ended December 31,	2023		2022		2021
	(In thousands)
Shares underlying stock options excluded due to the options' respective exercise prices being greater than the average stock price during the period		711		1,542		838
Performance stock grants excluded because performance conditions had not been met(1)		993		789		335

(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.