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Net Income Attributable to Shareholders of Crawford & Company per Common Share (Tables)
 3 Months Ended
Mar. 31, 2025
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,
2025

 

 

March 31,
2024

 

(in thousands, except per share amounts)

 

CRD-A

 

 

CRD-B

 

 

CRD-A

 

 

CRD-B

 

Earnings per share - basic:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of undistributed earnings

 

$

1,976

 

 

$

1,253

 

 

$

(365

)

 

$

(241

)

Dividends paid

 

 

2,115

 

 

 

1,340

 

 

 

2,074

 

 

 

1,369

 

Net income attributable to common shareholders, basic

 

$

4,091

 

 

$

2,593

 

 

$

1,709

 

 

$

1,128

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding, basic

 

 

30,175

 

 

 

19,145

 

 

 

29,586

 

 

 

19,542

 

Earnings per share - basic

 

$

0.14

 

 

$

0.14

 

 

$

0.06

 

 

$

0.06

 
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,
2025

 

 

March 31,
2024

 

(in thousands, except per share amounts)

 

CRD-A

 

 

CRD-B

 

 

CRD-A

 

 

CRD-B

 

Earnings per share - diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of undistributed earnings

 

$

1,989

 

 

$

1,240

 

 

$

(368

)

 

$

(238

)

Dividends paid

 

 

2,115

 

 

 

1,340

 

 

 

2,074

 

 

 

1,369

 

Net income attributable to common shareholders, diluted

 

$

4,104

 

 

$

2,580

 

 

$

1,706

 

 

$

1,131

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding, basic

 

 

30,175

 

 

 

19,145

 

 

 

29,586

 

 

 

19,542

 

Weighted-average effect of dilutive securities

 

 

531

 

 

 

—

 

 

 

693

 

 

—

 

Weighted-average common shares outstanding, diluted

 

 

30,706

 

 

 

19,145

 

 

 

30,279

 

 

 

19,542

 

Earnings per share - diluted

 

$

0.13

 

 

$

0.13

 

 

$

0.06

 

 

$

0.06

 
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:

 

 

 

Three Months Ended

(in thousands)

 

March 31,
2025

 

March 31,
2024

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

 

807

 

1,100

 

(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, 2025 and 2024, 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,
2025

 

 

March 31,
2024

 

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

 

 

89

 

 

 

71

 

CRD-A issued under the Employee Stock Purchase Plan

 

 

4

 

 

 

32