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Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Segment Reporting Information

Financial information as of and for the three months ended March 31, 2025 and 2024 related to the Company's reportable segments is presented below:


	Three Months Ended March 31, 2025
	North America Loss Adjusting		International Operations			Broadspire		Platform Solutions		Total
	(In thousands)
Revenues before reimbursements	$	79,740	$	104,394		$	96,384	$	31,514	$	312,032
Less:
Segment Expenses:
Compensation		45,261		52,418			44,983		14,773		157,435
Benefits and payroll taxes		9,310		9,719			9,101		2,578		30,708
Non-employee labor		1,447		8,441			4,267		693		14,848
Total Compensation		56,018		70,578			58,351		18,044		202,991
Office rent and occupancy		1,037		3,435			2,109		956		7,537
Other office operating expense (1)		4,542		6,938			4,417		1,814		17,711
Depreciation		1,015		966			1,443		1,673		5,097
Professional fees		410		2,345			3,982		626		7,363
Cost of risk		152		(431	)		1,302		112		1,135
Other, net (2)		739		1,642			281		471		3,133
Total Other Operating Expense		7,895		14,895			13,534		5,652		41,976
Allocated corporate, shared services, and administrative costs (3)		10,351		15,465			12,296		4,891		43,003
Total Segment Expenses		74,264		100,938			84,181		28,587		287,970
Segment Operating Earnings	$	5,476	$	3,456		$	12,203	$	2,927	$	24,062
Reconciliation of segment operating earnings:
Unallocated corporate administrative costs (4)											(6,218	)
Net corporate interest expense											(3,944	)
Stock option expense											(184	)
Amortization of acquisition-related intangible assets											(1,800	)
Non-service pension costs											(2,333	)
Contingent earnout adjustments											(363	)
Income before income taxes											9,220
Income taxes											(2,480	)
Net Income											6,740
Net Income Attributable to Noncontrolling Interests											(56	)
Net Income Attributable to Shareholders of Crawford & Company										$	6,684


	Three Months Ended March 31, 2024
	North America Loss Adjusting	International Operations	Broadspire	Platform Solutions	Total
	(In thousands)
Revenues before reimbursements	$77,365	$98,092	$94,298	$31,899	$301,654
Less:
Segment Expenses:
Compensation	45,083	50,085	43,958	15,324	154,450
Benefits and payroll taxes	9,234	9,464	8,942	2,705	30,345
Non-employee labor	1,150	5,430	4,357	901	11,838
Total Compensation	55,467	64,979	57,257	18,930	196,633
Office rent and occupancy	1,255	3,735	2,289	976	8,255
Other office operating expense (1)	3,667	7,037	4,075	1,701	16,480
Depreciation	837	796	1,275	1,643	4,551
Professional fees	331	2,712	4,109	498	7,650
Cost of risk	486	811	708	226	2,231
Other, net (2)	1,076	2,041	280	705	4,102
Total Other Operating Expense	7,652	17,132	12,736	5,749	43,269
Allocated corporate, shared services, and administrative costs (3)	9,767	14,291	11,501	6,105	41,664
Total Segment Expenses	72,886	96,402	81,494	30,784	281,566
Segment Operating Earnings	$4,479	$1,690	$12,804	$1,115	$20,088
Reconciliation of segment operating earnings:
Unallocated corporate administrative costs (4)					(8,007)
Net corporate interest expense					(3,596)
Stock option expense					(167)
Amortization of acquisition-related intangible assets					(1,868)
Non-service pension costs					(2,473)
Contingent earnout adjustments					(151)
Income before income taxes					3,826
Income taxes					(1,047)
Net Income					2,779
Net Loss Attributable to Noncontrolling Interests					58
Net Income Attributable to Shareholders of Crawford & Company					$2,837

(1)

Other office and operating expenses include travel and entertainment, automobile expenses, office operating expenses and data processing costs.

(2)

Other, net primarily includes bank service charges and advertising expenses.

(3)

Allocated corporate, shared services, and administrative costs, comprise of expenses for administrative functions, including direct compensation, payroll taxes, and benefits which are allocated to each segment based on usage.

(4)

Unallocated corporate and shared costs and credits represent expenses for the Company's Chief Executive Officer and Board of Directors, certain adjustments to self-insured liabilities, certain unallocated legal and professional fees, and certain adjustments and recoveries to the Company's allowances for estimated credit losses.

Segment assets consist of accounts receivable, less allowance for expected credit losses, unbilled revenues at estimated billable amounts, goodwill and intangible assets arising from business acquisitions, net. Assets at March 31, 2025 and December 31, 2024 were as follows:


	North America Loss Adjusting	International Operations	Broadspire	Platform Solutions	Total
	(In thousands)
March 31, 2025
Assets	$119,451	$151,381	$71,331	$76,970	$419,133
December 31, 2024
Assets	106,657	149,441	73,114	94,845	424,057

Reconciliation Of Capital Expenditures From Segments To Consolidated

Capital expenditures for the three months ended March 31, 2025 and 2024 are shown in the following table:


Three Months Ended March 31,	2025	2024
	(In thousands)
North America Loss Adjusting	$2,142	$1,197
International Operations	156	55
Broadspire	3,452	3,494
Platform Solutions	926	1,120
Corporate	2,647	3,684
Total capital expenditures	$9,323	$9,550

Reconciliation of Revenues from Segments to Consolidated

The total of the Company's reportable segments' revenues before reimbursements reconciled to total consolidated revenues for the three months ended March 31, 2025 and 2024 was as follows:


Three Months Ended March 31,	2025	2024
	(In thousands)
Segments' revenues before reimbursements	$312,032	$301,654
Reimbursements	11,307	11,419
Total consolidated revenues	$323,339	$313,073

Reconciliation of Segment Operating Earnings from Segments to Consolidated

The Company's reportable segments' total operating earnings reconciled to consolidated income before income taxes for the three months ended March 31, 2025 and 2024 were as follows:


Three Months Ended March 31,	2025	2024
	(In thousands)
Operating earnings of all reportable segments	$24,062	$20,088
Unallocated corporate and shared costs and credits	(6,218)	(8,007)
Net corporate interest expense	(3,944)	(3,596)
Stock option expense	(184)	(167)
Amortization of acquisition-related intangible assets	(1,800)	(1,868)
Non-service pension costs	(2,333)	(2,473)
Contingent earnout adjustments	(363)	(151)
Income before income taxes	$9,220	$3,826

Reconciliation of Assets from Segment to Consolidated

The Company's reportable segments' total assets reconciled to consolidated total assets of the Company at March 31, 2025 and December 31, 2024 are presented in the following table:


	March 31, 2025	December 31, 2024
	(In thousands)
Assets of reportable segments	$419,133	$424,057
Corporate assets:
Cash and cash equivalents	57,367	55,412
Income taxes receivable	4,803	5,337
Prepaid expenses and other current assets	39,931	40,334
Net property and equipment	19,040	20,554
Operating lease right-of-use asset, net	72,419	78,808
Capitalized software costs, net	113,530	111,854
Deferred income tax assets	23,962	25,305
Other noncurrent assets	42,074	42,094
Total corporate assets	373,126	379,698
Total assets	$792,259	$803,755