| Schedule of Segment Reporting Information |
Financial information as of and for the three and six months ended June 30, 2026 and 2025 related to the Company's reportable segments is presented below:
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Three Months Ended June 30, 2026 |
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U.S. Property & Casualty |
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Broadspire |
|
International
Operations |
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Total |
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(In thousands) |
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Revenues before reimbursements |
|
$ |
74,065 |
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$ |
109,423 |
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$ |
137,951 |
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$ |
321,439 |
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Less: |
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Segment Expenses: |
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Compensation |
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37,034 |
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|
46,957 |
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|
69,513 |
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|
153,504 |
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Benefits and payroll taxes |
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7,104 |
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10,720 |
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|
13,182 |
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|
31,006 |
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Non-employee labor |
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1,211 |
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2,890 |
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|
6,276 |
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|
10,377 |
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Total Compensation |
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45,349 |
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|
60,567 |
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|
88,971 |
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|
194,887 |
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Office rent and occupancy |
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|
692 |
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2,031 |
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|
4,008 |
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|
6,731 |
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Other office operating expense(1) |
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3,573 |
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|
3,533 |
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|
8,684 |
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|
15,790 |
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Depreciation |
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|
883 |
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|
2,060 |
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|
1,107 |
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|
4,050 |
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Professional fees |
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|
561 |
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5,235 |
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|
1,872 |
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|
7,668 |
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Cost of risk |
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|
824 |
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|
405 |
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|
882 |
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|
2,111 |
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Other, net(2) |
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2,990 |
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|
464 |
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|
1,516 |
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|
4,970 |
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Total Other Operating Expense |
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9,523 |
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13,728 |
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|
18,069 |
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|
41,320 |
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Allocated corporate, shared services, and administrative costs(3) |
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12,038 |
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19,398 |
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20,049 |
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|
51,485 |
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Total Segment Expenses |
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66,910 |
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93,693 |
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127,089 |
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287,692 |
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Segment Operating Earnings |
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$ |
7,155 |
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$ |
15,730 |
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$ |
10,862 |
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$ |
33,747 |
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Reconciliation of segment operating earnings: |
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Unallocated corporate administrative costs(4) |
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(4,302 |
) |
Net corporate interest expense |
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(2,852 |
) |
Stock option expense |
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(114 |
) |
Amortization of acquisition-related intangible assets |
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(1,782 |
) |
Non-service pension costs |
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(1,462 |
) |
Loss on disposition of businesses, net(5) |
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(1,285 |
) |
Software impairment |
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(2,294 |
) |
Income before income taxes |
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19,656 |
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Income taxes |
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(6,235 |
) |
Net Income |
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13,421 |
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Net Loss Attributable to Noncontrolling Interests |
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27 |
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Net Income Attributable to Shareholders of Crawford & Company |
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$ |
13,448 |
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Six Months Ended June 30, 2026 |
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U.S. Property & Casualty |
Broadspire |
International
Operations |
Total |
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(In thousands) |
Revenues before reimbursements |
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$146,950 |
$214,181 |
$269,833 |
$630,964 |
Less: |
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Segment Expenses: |
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Compensation |
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74,222 |
93,794 |
139,298 |
307,314 |
Benefits and payroll taxes |
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14,305 |
21,400 |
26,798 |
62,503 |
Non-employee labor |
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2,455 |
5,754 |
13,232 |
21,441 |
Total Compensation |
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90,982 |
120,948 |
179,328 |
391,258 |
Office rent and occupancy |
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1,469 |
4,057 |
8,019 |
13,545 |
Other office operating expense(1) |
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6,959 |
6,875 |
17,355 |
31,189 |
Depreciation |
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1,798 |
4,105 |
2,222 |
8,125 |
Professional fees |
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1,067 |
9,970 |
3,905 |
14,942 |
Cost of risk |
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1,342 |
1,171 |
2,037 |
4,550 |
Other, net(2) |
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3,533 |
575 |
3,546 |
7,654 |
Total Other Operating Expense |
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16,168 |
26,753 |
37,084 |
80,005 |
Allocated corporate, shared services, and administrative costs(3) |
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25,029 |
39,894 |
38,562 |
103,485 |
Total Segment Expenses |
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132,179 |
187,595 |
254,974 |
574,748 |
Segment Operating Earnings |
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$14,771 |
$26,586 |
$14,859 |
$56,216 |
Reconciliation of segment operating earnings: |
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Unallocated corporate administrative costs(4) |
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(13,073) |
Net corporate interest expense |
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(5,497) |
Stock option expense |
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(300) |
Amortization of acquisition-related intangible assets |
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(3,566) |
Non-service pension costs |
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(3,438) |
Contingent earnout adjustments |
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|
180 |
Loss on disposition of businesses, net(5) |
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(1,285) |
Software impairment |
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(2,294) |
Income before income taxes |
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26,943 |
Income taxes |
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(8,610) |
Net Income |
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18,333 |
Net Loss Attributable to Noncontrolling Interests |
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20 |
Net Income Attributable to Shareholders of Crawford & Company |
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$18,353 |
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Three Months Ended June 30, 2025 |
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U.S. Property & Casualty |
Broadspire |
International
Operations |
Total |
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(In thousands) |
Revenues before reimbursements |
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$82,500 |
$108,158 |
$132,339 |
$322,997 |
Less: |
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Segment Expenses: |
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Compensation |
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41,545 |
47,026 |
68,387 |
156,958 |
Benefits and payroll taxes |
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7,601 |
10,622 |
12,471 |
30,694 |
Non-employee labor |
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1,854 |
3,046 |
7,307 |
12,207 |
Total Compensation |
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51,000 |
60,694 |
88,165 |
199,859 |
Office rent and occupancy |
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1,145 |
2,163 |
4,140 |
7,448 |
Other office operating expense(1) |
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3,787 |
3,317 |
8,574 |
15,678 |
Depreciation |
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1,817 |
1,448 |
1,074 |
4,339 |
Professional fees |
|
533 |
4,995 |
821 |
6,349 |
Cost of risk |
|
787 |
1,039 |
730 |
2,556 |
Other, net(2) |
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2,160 |
340 |
1,860 |
4,360 |
Total Other Operating Expense |
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10,229 |
13,302 |
17,199 |
40,730 |
Allocated corporate, shared services, and administrative costs(3) |
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13,820 |
19,960 |
19,644 |
53,424 |
Total Segment Expenses |
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75,049 |
93,956 |
125,008 |
294,013 |
Segment Operating Earnings |
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$7,451 |
$14,202 |
$7,331 |
$28,984 |
Reconciliation of segment operating earnings: |
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Unallocated corporate administrative costs(4) |
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(6,988) |
Net corporate interest expense |
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(3,858) |
Non-service pension costs |
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(2,354) |
Stock option expense |
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(214) |
Amortization of acquisition-related intangible assets |
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(1,825) |
Contingent earnout adjustments |
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(80) |
Income before income taxes |
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|
13,665 |
Income taxes |
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(5,845) |
Net Income |
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|
7,820 |
Net Income Attributable to Noncontrolling Interests |
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(38) |
Net Income Attributable to Shareholders of Crawford & Company |
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$7,782 |
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Six Months Ended June 30, 2025 |
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U.S. Property & Casualty |
Broadspire |
International
Operations |
Total |
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(In thousands) |
Revenues before reimbursements |
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$164,690 |
$211,830 |
$258,509 |
$635,029 |
Less: |
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Segment Expenses: |
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Compensation |
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83,108 |
92,077 |
134,006 |
309,191 |
Benefits and payroll taxes |
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15,274 |
21,005 |
24,790 |
61,069 |
Non-employee labor |
|
3,406 |
5,955 |
15,836 |
25,197 |
Total Compensation |
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101,788 |
119,037 |
174,632 |
395,457 |
Office rent and occupancy |
|
2,312 |
4,317 |
8,276 |
14,905 |
Other office operating expense(1) |
|
7,577 |
6,785 |
16,890 |
31,252 |
Depreciation |
|
3,620 |
2,895 |
2,082 |
8,597 |
Professional fees |
|
1,107 |
9,234 |
3,205 |
13,546 |
Cost of risk |
|
929 |
2,111 |
395 |
3,435 |
Other, net(2) |
|
2,991 |
644 |
3,736 |
7,371 |
Total Other Operating Expense |
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18,536 |
25,986 |
34,584 |
79,106 |
Allocated corporate, shared services, and administrative costs(3) |
|
27,135 |
40,628 |
39,742 |
107,505 |
Total Segment Expenses |
|
147,459 |
185,651 |
248,958 |
582,068 |
Segment Operating Earnings |
|
$17,231 |
$26,179 |
$9,551 |
$52,961 |
Reconciliation of segment operating earnings: |
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|
Unallocated corporate administrative costs(4) |
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|
|
(13,121) |
Net corporate interest expense |
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|
|
|
(7,802) |
Non-service pension costs |
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|
|
|
(4,687) |
Stock option expense |
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|
|
(398) |
Amortization of acquisition-related intangible assets |
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(3,625) |
Contingent earnout adjustments |
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(443) |
Income before income taxes |
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|
22,885 |
Income taxes |
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|
|
|
(8,325) |
Net Income |
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|
14,560 |
Net Income Attributable to Noncontrolling Interests |
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|
|
(94) |
Net Income Attributable to Shareholders of Crawford & Company |
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$14,466 |
(1)Other office and operating expenses include travel and entertainment, automobile expenses, office operating expenses and data processing costs. (2)Other, net primarily includes advertising expenses, bank service charges, bad debt expense, and property and other taxes. (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 other charges, and certain adjustments and recoveries to the Company's allowances for estimated credit losses. (5)Loss on disposition of businesses, net relates to the sales of the U.K. and Chile Crawford Legal Services businesses. 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 June 30, 2026 and December 31, 2025 were as follows:
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U.S. Property & Casualty |
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|
Broadspire |
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|
International Operations |
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Total |
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(In thousands) |
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June 30, 2026 |
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|
|
|
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|
|
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Assets |
|
$ |
108,618 |
|
|
$ |
110,075 |
|
|
$ |
180,509 |
|
|
$ |
399,202 |
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December 31, 2025 |
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Assets |
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|
104,970 |
|
|
|
103,996 |
|
|
|
176,576 |
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|
|
385,542 |
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