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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Financial information as of and for the three and nine months ended September 30, 2025 and 2024 related to the Company's reportable segments is presented below:
|  | Three Months Ended September 30, 2025 |
|  | North America Loss Adjusting |  | International Operations |  | Broadspire |  | Platform Solutions |  | Total |
|  | (In thousands) |
Revenues before reimbursements |  | $ | 76,995 |  | $ | 112,853 |  | $ | 103,401 |  | $ | 28,922 |  | $ | 322,171 |
Less: |  |  |  |  |  |  |  |  |  |  |
Segment Expenses: |  |  |  |  |  |  |  |  |  |  |
Compensation |  |  | 44,205 |  |  | 56,312 |  |  | 48,560 |  |  | 13,030 |  |  | 162,107 |
Benefits and payroll taxes |  |  | 8,365 |  |  | 11,007 |  |  | 9,666 |  |  | 2,375 |  |  | 31,413 |
Non-employee labor |  |  | 1,924 |  |  | 8,231 |  |  | 4,176 |  |  | 681 |  |  | 15,012 |
Total Compensation |  |  | 54,494 |  |  | 75,550 |  |  | 62,402 |  |  | 16,086 |  |  | 208,532 |
Office rent and occupancy |  |  | 1,077 |  |  | 3,476 |  |  | 2,129 |  |  | 892 |  |  | 7,574 |
Other office operating expense (1) |  |  | 4,320 |  |  | 7,239 |  |  | 4,266 |  |  | 1,570 |  |  | 17,395 |
Depreciation |  |  | 1,078 |  |  | 1,031 |  |  | 1,442 |  |  | 1,715 |  |  | 5,266 |
Professional fees |  |  | 453 |  |  | 1,925 |  |  | 4,833 |  |  | 539 |  |  | 7,750 |
Cost of risk |  |  | 367 |  |  | 1,022 |  |  | 757 |  |  | 461 |  |  | 2,607 |
Other, net (2) |  |  | (913 | ) |  | (175 | ) |  | 92 |  |  | 436 |  |  | (560 | )
Total Other Operating Expense |  |  | 6,382 |  |  | 14,518 |  |  | 13,519 |  |  | 5,613 |  |  | 40,032 |
Allocated corporate, shared services, and administrative costs (3) |  |  | 9,178 |  |  | 15,338 |  |  | 11,915 |  |  | 4,639 |  |  | 41,070 |
Total Segment Expenses |  |  | 70,054 |  |  | 105,406 |  |  | 87,836 |  |  | 26,338 |  |  | 289,634 |
Segment Operating Earnings |  | $ | 6,941 |  | $ | 7,447 |  | $ | 15,565 |  | $ | 2,584 |  | $ | 32,537 |
Reconciliation of segment operating earnings: |  |  |  |  |  |  |  |  |  |  |
Unallocated corporate administrative costs (4) |  |  |  |  |  |  |  |  |  |  | (5,946 | )
Net corporate interest expense |  |  |  |  |  |  |  |  |  |  | (3,788 | )
Stock option expense |  |  |  |  |  |  |  |  |  |  | (52 | )
Amortization of acquisition-related intangible assets |  |  |  |  |  |  |  |  |  |  | (2,126 | )
Non-service pension costs |  |  |  |  |  |  |  |  |  |  | (2,363 | )
Contingent earnout adjustments |  |  |  |  |  |  |  |  |  |  | (60 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | 18,202 |
Income taxes |  |  |  |  |  |  |  |  |  |  | (5,813 | )
Net Income |  |  |  |  |  |  |  |  |  |  | 12,389 |
Net Income Attributable to Noncontrolling Interests |  |  |  |  |  |  |  |  |  |  | 19 |
Net Income Attributable to Shareholders of Crawford & Company |  |  |  |  |  |  |  |  |  | $ | 12,408 |
|  | Nine Months Ended September 30, 2025
|  | North America Loss Adjusting | International Operations | Broadspire | Platform Solutions | Total
|  | (In thousands)
Revenues before reimbursements |  | $234,809 | $326,317 | $300,402 | $95,672 | $957,200
Less: |  |  |  |  |  |
Segment Expenses: |  |  |  |  |  |
Compensation |  | 134,410 | 163,474 | 140,009 | 43,350 | 481,243
Benefits and payroll taxes |  | 26,057 | 31,071 | 28,306 | 7,639 | 93,073
Non-employee labor |  | 4,880 | 23,893 | 12,798 | 2,256 | 43,827
Total Compensation |  | 165,347 | 218,438 | 181,113 | 53,245 | 618,143
Office rent and occupancy |  | 3,282 | 10,264 | 6,371 | 2,726 | 22,643
Other office operating expense (1) |  | 13,192 | 20,916 | 12,878 | 5,660 | 52,646
Depreciation |  | 3,131 | 3,032 | 4,328 | 5,106 | 15,597
Professional fees |  | 1,290 | 5,007 | 13,482 | 1,814 | 21,593
Cost of risk |  | 1,018 | 992 | 3,089 | 1,199 | 6,298
Other, net (2) |  | 1,356 | 2,799 | 938 | 2,809 | 7,902
Total Other Operating Expense |  | 23,269 | 43,010 | 41,086 | 19,314 | 126,679
Allocated corporate, shared services, and administrative costs (3) |  | 29,181 | 46,330 | 36,783 | 14,470 | 126,764
Total Segment Expenses |  | 217,797 | 307,778 | 258,982 | 87,029 | 871,586
Segment Operating Earnings |  | $17,012 | $18,539 | $41,420 | $8,643 | $85,614
Reconciliation of segment operating earnings: |  |  |  |  |  |
Unallocated corporate administrative costs (4) |  |  |  |  |  | (19,183)
Net corporate interest expense |  |  |  |  |  | (11,590)
Stock option expense |  |  |  |  |  | (450)
Amortization of acquisition-related intangible assets |  |  |  |  |  | (5,751)
Non-service pension costs |  |  |  |  |  | (7,050)
Contingent earnout adjustments |  |  |  |  |  | (503)
Income before income taxes |  |  |  |  |  | 41,087
Income taxes |  |  |  |  |  | (14,138)
Net Income |  |  |  |  |  | 26,949
Net Income Attributable to Noncontrolling Interests |  |  |  |  |  | (75)
Net Income Attributable to Shareholders of Crawford & Company |  |  |  |  |  | $26,874
|  | Three Months Ended September 30, 2024
|  | North America Loss Adjusting | International Operations | Broadspire | Platform Solutions | Total
|  | (In thousands)
Revenues before reimbursements |  | $79,329 | $105,741 | $99,009 | $45,296 | $329,375
Less: |  |  |  |  |  |
Segment Expenses: |  |  |  |  |  |
Compensation |  | 46,694 | 52,317 | 45,958 | 23,457 | 168,426
Benefits and payroll taxes |  | 8,643 | 9,710 | 9,286 | 3,664 | 31,303
Non-employee labor |  | 1,718 | 7,368 | 4,436 | 1,855 | 15,377
Total Compensation |  | 57,055 | 69,395 | 59,680 | 28,976 | 215,106
Office rent and occupancy |  | 1,119 | 3,783 | 2,266 | 923 | 8,091
Other office operating expense (1) |  | 4,052 | 7,147 | 4,113 | 2,619 | 17,931
Depreciation |  | 806 | 833 | 1,152 | 1,546 | 4,337
Professional fees |  | 474 | 2,783 | 4,617 | 500 | 8,374
Cost of risk |  | 385 | 895 | 1,364 | 496 | 3,140
Other, net (2) |  | 681 | 2,362 | 217 | 485 | 3,745
Total Other Operating Expense |  | 7,517 | 17,803 | 13,729 | 6,569 | 45,618
Allocated corporate, shared services, and administrative costs (3) |  | 9,314 | 13,407 | 11,198 | 5,918 | 39,837
Total Segment Expenses |  | 73,886 | 100,605 | 84,607 | 41,463 | 300,561
Segment Operating Earnings |  | $5,443 | $5,136 | $14,402 | $3,833 | $28,814
Reconciliation of segment operating earnings: |  |  |  |  |  |
Unallocated corporate administrative costs (4) |  |  |  |  |  | (6,979)
Net corporate interest expense |  |  |  |  |  | (4,682)
Stock option expense |  |  |  |  |  | (188)
Amortization of acquisition-related intangible assets |  |  |  |  |  | (1,932)
Non-service pension costs |  |  |  |  |  | (2,441)
Contingent earnout adjustments |  |  |  |  |  | 2,128
Income before income taxes |  |  |  |  |  | 14,720
Income taxes |  |  |  |  |  | (5,333)
Net Income |  |  |  |  |  | 9,387
Net Loss Attributable to Noncontrolling Interests |  |  |  |  |  | 66
Net Income Attributable to Shareholders of Crawford & Company |  |  |  |  |  | $9,453
|  | Nine Months Ended September 30, 2024
|  | North America Loss Adjusting | International Operations | Broadspire | Platform Solutions | Total
|  | (In thousands)
Revenues before reimbursements |  | $232,724 | $306,116 | $290,394 | $116,022 | $945,256
Less: |  |  |  |  |  |
Segment Expenses: |  |  |  |  |  |
Compensation |  | 136,432 | 152,922 | 134,684 | 57,673 | 481,711
Benefits and payroll taxes |  | 26,625 | 28,995 | 27,279 | 9,523 | 92,422
Non-employee labor |  | 4,173 | 18,504 | 13,136 | 4,114 | 39,927
Total Compensation |  | 167,230 | 200,421 | 175,099 | 71,310 | 614,060
Office rent and occupancy |  | 3,431 | 10,785 | 6,862 | 2,763 | 23,841
Other office operating expense (1) |  | 11,527 | 21,080 | 11,957 | 6,882 | 51,446
Depreciation |  | 2,413 | 2,421 | 3,618 | 4,791 | 13,243
Professional fees |  | 1,229 | 8,416 | 12,870 | 1,583 | 24,098
Cost of risk |  | 1,054 | 2,882 | 2,679 | 884 | 7,499
Other, net (2) |  | 2,014 | 6,400 | 1,061 | 3,511 | 12,986
Total Other Operating Expense |  | 21,668 | 51,984 | 39,047 | 20,414 | 133,113
Allocated corporate, shared services, and administrative costs (3) |  | 29,019 | 41,183 | 33,951 | 17,881 | 122,034
Total Segment Expenses |  | 217,917 | 293,588 | 248,097 | 109,605 | 869,207
Segment Operating Earnings |  | $14,807 | $12,528 | $42,297 | $6,417 | $76,049
Reconciliation of segment operating earnings: |  |  |  |  |  |
Unallocated corporate administrative costs (4) |  |  |  |  |  | (20,065)
Net corporate interest expense |  |  |  |  |  | (12,534)
Stock option expense |  |  |  |  |  | (494)
Amortization of acquisition-related intangible assets |  |  |  |  |  | (5,656)
Non-service pension costs |  |  |  |  |  | (7,313)
Contingent earnout adjustments |  |  |  |  |  | 1,547
Income before income taxes |  |  |  |  |  | 31,534
Income taxes |  |  |  |  |  | (10,866)
Net Income |  |  |  |  |  | 20,668
Net Loss Attributable to Noncontrolling Interests |  |  |  |  |  | 206
Net Income Attributable to Shareholders of Crawford & Company |  |  |  |  |  | $20,874
(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 September 30, 2025 and December 31, 2024 were as follows:
|  | North America Loss Adjusting |  | International Operations |  | Broadspire |  | Platform Solutions |  | Total
|  | (In thousands)
September 30, 2025 |  |  |  |  |  |  |  |  |  |
Assets |  | $106,398 |  | $152,987 |  | $74,548 |  | $74,768 |  | $408,701
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 and nine months ended September 30, 2025 and 2024 are shown in the following table:
|  | Three Months Ended |  | Nine Months Ended
(in thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
North America Loss Adjusting |  | $1,083 |  | $1,113 |  | $4,300 |  | $3,320
International Operations |  | 227 |  | 806 |  | 454 |  | 974
Broadspire |  | 3,946 |  | 3,423 |  | 11,291 |  | 9,340
Platform Solutions |  | 777 |  | 1,182 |  | 2,739 |  | 3,598
Corporate |  | 3,065 |  | 4,472 |  | 8,802 |  | 12,213
Total capital expenditures |  | $9,098 |  | $10,996 |  | $27,586 |  | $29,445
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 and nine months ended September 30, 2025 and 2024 was as follows:
|  | Three Months Ended |  | Nine Months Ended
(in thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Segments' revenues before reimbursements |  | $322,171 |  | $329,375 |  | $957,200 |  | $945,256
Reimbursements |  | 10,636 |  | 13,351 |  | 33,541 |  | 37,396
Total consolidated revenues |  | $332,807 |  | $342,726 |  | $990,741 |  | $982,652
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 and nine months ended September 30, 2025 and 2024 were as follows:
|  | Three Months Ended |  | Nine Months Ended
(in thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Operating earnings of all reportable segments |  | $32,537 |  | $28,814 |  | $85,614 |  | $76,049
Unallocated corporate and shared costs and credits |  | (5,946) |  | (6,979) |  | (19,183) |  | (20,065)
Net corporate interest expense |  | (3,788) |  | (4,682) |  | (11,590) |  | (12,534)
Stock option expense |  | (52) |  | (188) |  | (450) |  | (494)
Amortization of acquisition-related intangible assets |  | (2,126) |  | (1,932) |  | (5,751) |  | (5,656)
Non-service pension costs |  | (2,363) |  | (2,441) |  | (7,050) |  | (7,313)
Contingent earnout adjustments |  | (60) |  | 2,128 |  | (503) |  | 1,547
Income before income taxes |  | $18,202 |  | $14,720 |  | $41,087 |  | $31,534
Reconciliation of Assets from Segment to Consolidated | The Company's reportable segments' total assets reconciled to consolidated total assets of the Company at September 30, 2025 and December 31, 2024 are presented in the following table:
|  | September 30, 2025 |  | December 31, 2024
|  | (In thousands)
Assets of reportable segments |  | $408,701 |  | $424,057
Corporate assets: |  |  |  |
Cash and cash equivalents |  | 68,767 |  | 55,412
Income taxes receivable |  | 3,626 |  | 5,337
Prepaid expenses and other current assets |  | 35,960 |  | 40,334
Net property and equipment |  | 17,804 |  | 20,554
Operating lease right-of-use asset, net |  | 75,249 |  | 78,808
Capitalized software costs, net |  | 118,123 |  | 111,854
Deferred income tax assets |  | 23,783 |  | 25,305
Other noncurrent assets |  | 47,826 |  | 42,094
Total corporate assets |  | 391,138 |  | 379,698
Total assets |  | $799,839 |  | $803,755

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