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Segment Information | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Segment Information | 10. Segment Information The Company has four reportable segments consisting of North America Loss Adjusting, International Operations, Broadspire, and Platform Solutions. The Company's reportable segments are comprised of the following: • North America Loss Adjusting, which services the North American property and casualty market. This is comprised of Loss Adjusting operations in the U.S. and Canada, including Global Technical Services and edjuster. The Canadian operations include all operations within that country including third party administration and Contractor Connection. • International Operations, which services the global property and casualty market outside North America. This is comprised of Loss Adjusting operations in the U.K., Europe, Australia, Asia and Latin America, and includes Crawford Legal Services. The International Operations include all operations within the respective countries, including Loss Adjusting, Global Technical Services, Legal Services, third party administration, and where applicable, Contractor Connection services. • Broadspire, which provides third party administration for workers' compensation, auto and liability, disability absence management, medical management, and accident and health to corporations, brokers and insurers in the U.S. • Platform Solutions, which consists of the Contractor Connection, Networks, and Subrogation service lines in the U.S. The Networks service line includes Catastrophe operations. The Platform Solutions reportable segment represents the aggregation of certain service line operating segments. Effective January 1, 2024, the Company combined the operating segments within North America Loss Adjusting and International Operations, and accordingly, there are no operating segments within these reportable segments to aggregate. Financial information for the three months ended March 31, 2024 and 2023 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, 2024 |  |  | March 31, 2023 |
Revenues: |  |  |  |  |  |
North America Loss Adjusting |  | $ | 77,365 |  |  | $ | 77,597 |
International Operations |  |  | 98,092 |  |  |  | 91,863 |
Broadspire |  |  | 94,298 |  |  |  | 84,054 |
Platform Solutions |  |  | 31,899 |  |  |  | 62,820 |
Total segment revenues before reimbursements |  |  | 301,654 |  |  |  | 316,334 |
Reimbursements |  |  | 11,419 |  |  |  | 11,604 |
Total revenues |  | $ | 313,073 |  |  | $ | 327,938 |
Segment Operating Earnings: |  |  |  |  |  |
North America Loss Adjusting |  | $ | 4,479 |  |  | $ | 8,065 |
International Operations |  |  | 1,690 |  |  |  | 3,035 |
Broadspire |  |  | 12,804 |  |  |  | 7,927 |
Platform Solutions |  |  | 1,115 |  |  |  | 9,966 |
Total segment operating earnings |  |  | 20,088 |  |  |  | 28,993 |
Deduct: |  |  |  |  |  |
Unallocated corporate and shared costs, net |  |  | (8,007 | ) |  |  | (4,119 | )
Net corporate interest expense |  |  | (3,596 | ) |  |  | (4,399 | )
Stock option expense |  |  | (167 | ) |  |  | (156 | )
Amortization of acquisition-related intangible assets |  |  | (1,868 | ) |  |  | (1,899 | )
Contingent earnout adjustments |  |  | (151 | ) |  |  | (248 | )
Non-service pension costs |  |  | (2,473 | ) |  |  | (2,171 | )
Income before income taxes |  | $ | 3,826 |  |  | $ | 16,001 |
Operating earnings is the primary financial performance measure used by the Company's senior management and chief operating decision maker ("CODM") to evaluate the financial performance of the Company's operating segments and make resource allocation and certain compensation decisions. The Company believes this measure is useful to investors in that it allows them to evaluate segment operating performance using the same criteria used by the Company's senior management and CODM. Operating earnings will differ from net income computed in accordance with GAAP since operating earnings represents segment earnings before certain unallocated corporate and shared costs and credits, net corporate interest expense, stock option expense, amortization of acquisition-related intangible assets, contingent earnout adjustments, non-service pension costs, income taxes, and net income or loss attributable to noncontrolling interests. Segment operating earnings includes allocations of certain corporate and shared costs. If the Company changes its allocation methods or changes the types of costs that are allocated to its four operating segments, prior period amounts presented in the current period financial statements are adjusted to conform to the current allocation process. Intersegment transactions are not material for any period presented. Certain of the Company’s reportable segments represent the aggregation of certain business units which represent separate operating segments. 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, 2024 |  |  | March 31, 2023 |
International Operations |  |  |  |  |  |
International Loss Adjusting |  | $ | 92,365 |  |  | $ | 85,994 |
Crawford Legal Services |  |  | 5,727 |  |  |  | 5,869 |
Total Revenues before Reimbursements--International Operations |  | $ | 98,092 |  |  | $ | 91,863 |
Broadspire |  |  |  |  |  |
Claims Management |  | $ | 48,398 |  |  | $ | 43,108 |
Medical Management |  |  | 45,900 |  |  |  | 40,946 |
Total Revenues before Reimbursements--Broadspire |  | $ | 94,298 |  |  | $ | 84,054 |
Platform Solutions |  |  |  |  |  |
Contractor Connection |  | $ | 16,945 |  |  | $ | 19,301 |
Networks |  |  | 7,743 |  |  |  | 37,403 |
Subrogation |  |  | 7,211 |  |  |  | 6,116 |
Total Revenues before Reimbursements--Platform Solutions |  | $ | 31,899 |  |  | $ | 62,820 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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