Exhibit 99.1
CRAWFORD & COMPANY |
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RESULTS OF OPERATIONS BY QUARTER (UNAUDITED) |
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Revised for Realignment of Reportable Segments |
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|
|
|
|
|
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2021 Quarterly Period | First |
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| Second |
|
| Third |
|
| Fourth |
|
| Full Year |
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| (Dollars in thousands) |
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Revenues Before Reimbursements: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting | $ | 56,298 |
|
| $ | 56,212 |
|
| $ | 64,334 |
|
| $ | 66,945 |
|
| $ | 243,789 |
|
International Operations |
| 86,467 |
|
|
| 91,269 |
|
|
| 91,888 |
|
|
| 88,285 |
|
|
| 357,909 |
|
Broadspire |
| 74,276 |
|
|
| 75,902 |
|
|
| 75,804 |
|
|
| 75,053 |
|
|
| 301,035 |
|
Platform Solutions |
| 36,140 |
|
|
| 44,074 |
|
|
| 56,474 |
|
|
| 62,611 |
|
|
| 199,299 |
|
Total, before reimbursements |
| 253,181 |
|
|
| 267,457 |
|
|
| 288,500 |
|
|
| 292,894 |
|
|
| 1,102,032 |
|
Reimbursements |
| 8,974 |
|
|
| 9,088 |
|
|
| 9,062 |
|
|
| 10,075 |
|
|
| 37,199 |
|
Total Revenues |
| 262,155 |
|
|
| 276,545 |
|
|
| 297,562 |
|
|
| 302,969 |
|
|
| 1,139,231 |
|
Direct Compensation, Fringe Benefits & Non-Employee Labor: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting |
| 40,286 |
|
|
| 40,592 |
|
|
| 45,706 |
|
|
| 49,954 |
|
|
| 176,538 |
|
% of related revenues before reimbursements |
| 71.6 | % |
|
| 72.2 | % |
|
| 71.0 | % |
|
| 74.6 | % |
|
| 72.4 | % |
International Operations |
| 60,353 |
|
|
| 62,786 |
|
|
| 62,505 |
|
|
| 63,416 |
|
|
| 249,060 |
|
% of related revenues before reimbursements |
| 69.8 | % |
|
| 68.8 | % |
|
| 68.0 | % |
|
| 71.8 | % |
|
| 69.6 | % |
Broadspire |
| 45,670 |
|
|
| 46,168 |
|
|
| 47,187 |
|
|
| 48,433 |
|
|
| 187,458 |
|
% of related revenues before reimbursements |
| 61.5 | % |
|
| 60.8 | % |
|
| 62.2 | % |
|
| 64.5 | % |
|
| 62.3 | % |
Platform Solutions |
| 23,270 |
|
|
| 26,298 |
|
|
| 37,904 |
|
|
| 44,264 |
|
|
| 131,736 |
|
% of related revenues before reimbursements |
| 64.4 | % |
|
| 59.7 | % |
|
| 67.1 | % |
|
| 70.7 | % |
|
| 66.1 | % |
Total |
| 169,579 |
|
|
| 175,844 |
|
|
| 193,302 |
|
|
| 206,067 |
|
|
| 744,792 |
|
% of Revenues before reimbursements |
| 67.0 | % |
|
| 65.7 | % |
|
| 67.0 | % |
|
| 70.4 | % |
|
| 67.6 | % |
Expenses Other than Direct Compensation Fringe Benefits & Non-Employee Labor: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting |
| 11,651 |
|
|
| 12,539 |
|
|
| 14,266 |
|
|
| 13,780 |
|
|
| 52,236 |
|
% of related revenues before reimbursements |
| 20.7 | % |
|
| 22.3 | % |
|
| 22.2 | % |
|
| 20.6 | % |
|
| 21.4 | % |
International Operations |
| 26,787 |
|
|
| 26,358 |
|
|
| 27,437 |
|
|
| 23,351 |
|
|
| 103,931 |
|
% of related revenues before reimbursements |
| 31.0 | % |
|
| 28.9 | % |
|
| 29.9 | % |
|
| 26.4 | % |
|
| 29.0 | % |
Broadspire |
| 21,872 |
|
|
| 23,164 |
|
|
| 21,678 |
|
|
| 22,080 |
|
|
| 88,794 |
|
% of related revenues before reimbursements |
| 29.4 | % |
|
| 30.5 | % |
|
| 28.6 | % |
|
| 29.4 | % |
|
| 29.5 | % |
Platform Solutions |
| 8,852 |
|
|
| 8,685 |
|
|
| 8,846 |
|
|
| 9,132 |
|
|
| 35,515 |
|
% of related revenues before reimbursements |
| 24.5 | % |
|
| 19.7 | % |
|
| 15.7 | % |
|
| 14.6 | % |
|
| 17.8 | % |
Total, before reimbursements |
| 69,162 |
|
|
| 70,746 |
|
|
| 72,227 |
|
|
| 68,343 |
|
|
| 280,476 |
|
% of Revenues before reimbursements |
| 27.3 | % |
|
| 26.5 | % |
|
| 25.0 | % |
|
| 23.3 | % |
|
| 25.5 | % |
Reimbursements |
| 8,974 |
|
|
| 9,088 |
|
|
| 9,062 |
|
|
| 10,075 |
|
|
| 37,199 |
|
Total |
| 78,136 |
|
|
| 79,834 |
|
|
| 81,289 |
|
|
| 78,418 |
|
|
| 317,675 |
|
% of Revenues |
| 29.8 | % |
|
| 28.9 | % |
|
| 27.3 | % |
|
| 25.9 | % |
|
| 27.9 | % |
Segment Operating Earnings (Loss) (1): |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting |
| 4,361 |
|
|
| 3,081 |
|
|
| 4,362 |
|
|
| 3,211 |
|
|
| 15,015 |
|
% of related revenues before reimbursements |
| 7.7 | % |
|
| 5.5 | % |
|
| 6.8 | % |
|
| 4.8 | % |
|
| 6.2 | % |
International Operations |
| (673 | ) |
|
| 2,126 |
|
|
| 1,947 |
|
|
| 1,519 |
|
|
| 4,918 |
|
% of related revenues before reimbursements |
| -0.8 | % |
|
| 2.3 | % |
|
| 2.1 | % |
|
| 1.7 | % |
|
| 1.4 | % |
Broadspire |
| 6,734 |
|
|
| 6,570 |
|
|
| 6,939 |
|
|
| 4,540 |
|
|
| 24,783 |
|
% of related revenues before reimbursements |
| 9.1 | % |
|
| 8.7 | % |
|
| 9.2 | % |
|
| 6.0 | % |
|
| 8.2 | % |
Platform Solutions |
| 4,018 |
|
|
| 9,091 |
|
|
| 9,724 |
|
|
| 9,215 |
|
|
| 32,048 |
|
% of related revenues before reimbursements |
| 11.1 | % |
|
| 20.6 | % |
|
| 17.2 | % |
|
| 14.7 | % |
|
| 16.1 | % |
Deduct: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Unallocated corporate and shared costs |
| (1,415 | ) |
|
| (1,248 | ) |
|
| (2,173 | ) |
|
| (9,425 | ) |
|
| (14,259 | ) |
Net corporate interest expense |
| (1,582 | ) |
|
| (1,213 | ) |
|
| (1,648 | ) |
|
| (2,116 | ) |
|
| (6,559 | ) |
Stock option expense |
| (140 | ) |
|
| (264 | ) |
|
| (296 | ) |
|
| (353 | ) |
|
| (1,053 | ) |
Amortization of customer-relationship intangible assets |
| (2,799 | ) |
|
| (2,750 | ) |
|
| (2,877 | ) |
|
| (2,603 | ) |
|
| (11,029 | ) |
Pretax Income |
| 8,505 |
|
|
| 15,393 |
|
|
| 15,978 |
|
|
| 3,988 |
|
|
| 43,864 |
|
Provision for income taxes |
| (2,471 | ) |
|
| (3,590 | ) |
|
| (4,866 | ) |
|
| (2,389 | ) |
|
| (13,316 | ) |
Net Income |
| 6,034 |
|
|
| 11,803 |
|
|
| 11,112 |
|
|
| 1,599 |
|
|
| 30,548 |
|
Net loss (income) attributable to noncontrolling interests |
| 30 |
|
|
| (23 | ) |
|
| 83 |
|
|
| 54 |
|
|
| 144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net Income Attributable to Shareholders of Crawford & Company | $ | 6,064 |
|
| $ | 11,780 |
|
| $ | 11,195 |
|
| $ | 1,653 |
|
| $ | 30,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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(1) A non-GAAP financial measurement which represents net income attributable to the applicable reporting segment excluding income taxes, net corporate interest expense, stock option expense, amortization of customer-relationship intangible assets, goodwill impairment, restructuring and other costs, gain/loss on dispositions, certain unallocated corporate and shared costs. |
|
1
CRAWFORD & COMPANY |
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RESULTS OF OPERATIONS BY QUARTER (UNAUDITED) |
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Revised for Realignment of Reportable Segments |
| ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
2020 Quarterly Period | First |
|
| Second |
|
| Third |
|
| Fourth |
|
| Full Year |
| |||||
| (Dollars in thousands) |
| |||||||||||||||||
Revenues Before Reimbursements: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting | $ | 55,693 |
|
| $ | 51,837 |
|
| $ | 56,800 |
|
| $ | 53,249 |
|
| $ | 217,579 |
|
International Operations |
| 77,870 |
|
|
| 81,747 |
|
|
| 78,043 |
|
|
| 84,775 |
|
|
| 322,435 |
|
Broadspire |
| 78,093 |
|
|
| 69,173 |
|
|
| 70,726 |
|
|
| 75,456 |
|
|
| 293,448 |
|
Platform Solutions |
| 25,875 |
|
|
| 31,659 |
|
|
| 47,555 |
|
|
| 43,941 |
|
|
| 149,030 |
|
Total, before reimbursements |
| 237,531 |
|
|
| 234,416 |
|
|
| 253,124 |
|
|
| 257,421 |
|
|
| 982,492 |
|
Reimbursements |
| 8,515 |
|
|
| 8,459 |
|
|
| 8,545 |
|
|
| 8,184 |
|
|
| 33,703 |
|
Total Revenues |
| 246,046 |
|
|
| 242,875 |
|
|
| 261,669 |
|
|
| 265,605 |
|
|
| 1,016,195 |
|
Direct Compensation, Fringe Benefits & Non-Employee Labor: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting |
| 41,945 |
|
|
| 34,757 |
|
|
| 36,823 |
|
|
| 37,379 |
|
|
| 150,904 |
|
% of related revenues before reimbursements |
| 75.3 | % |
|
| 67.1 | % |
|
| 64.8 | % |
|
| 70.2 | % |
|
| 69.4 | % |
International Operations |
| 51,705 |
|
|
| 50,608 |
|
|
| 48,946 |
|
|
| 52,404 |
|
|
| 203,663 |
|
% of related revenues before reimbursements |
| 66.4 | % |
|
| 61.9 | % |
|
| 62.7 | % |
|
| 61.8 | % |
|
| 63.2 | % |
Broadspire |
| 48,161 |
|
|
| 45,074 |
|
|
| 45,171 |
|
|
| 46,325 |
|
|
| 184,731 |
|
% of related revenues before reimbursements |
| 61.7 | % |
|
| 65.2 | % |
|
| 63.9 | % |
|
| 61.4 | % |
|
| 63.0 | % |
Platform Solutions |
| 15,687 |
|
|
| 17,463 |
|
|
| 29,870 |
|
|
| 29,493 |
|
|
| 92,513 |
|
% of related revenues before reimbursements |
| 60.6 | % |
|
| 55.2 | % |
|
| 62.8 | % |
|
| 67.1 | % |
|
| 62.1 | % |
Total |
| 157,498 |
|
|
| 147,902 |
|
|
| 160,810 |
|
|
| 165,601 |
|
|
| 631,811 |
|
% of Revenues before reimbursements |
| 66.3 | % |
|
| 63.1 | % |
|
| 63.5 | % |
|
| 64.3 | % |
|
| 64.3 | % |
Expenses Other than Direct Compensation Fringe Benefits & Non-Employee Labor: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting |
| 14,552 |
|
|
| 12,743 |
|
|
| 11,551 |
|
|
| 14,426 |
|
|
| 53,272 |
|
% of related revenues before reimbursements |
| 26.1 | % |
|
| 24.6 | % |
|
| 20.3 | % |
|
| 27.1 | % |
|
| 24.5 | % |
International Operations |
| 24,959 |
|
|
| 21,931 |
|
|
| 21,350 |
|
|
| 20,152 |
|
|
| 88,392 |
|
% of related revenues before reimbursements |
| 32.1 | % |
|
| 26.8 | % |
|
| 27.4 | % |
|
| 23.8 | % |
|
| 27.4 | % |
Broadspire |
| 23,062 |
|
|
| 21,807 |
|
|
| 20,992 |
|
|
| 23,891 |
|
|
| 89,752 |
|
% of related revenues before reimbursements |
| 29.5 | % |
|
| 31.5 | % |
|
| 29.7 | % |
|
| 31.7 | % |
|
| 30.6 | % |
Platform Solutions |
| 7,007 |
|
|
| 6,614 |
|
|
| 7,805 |
|
|
| 8,759 |
|
|
| 30,185 |
|
% of related revenues before reimbursements |
| 27.1 | % |
|
| 20.9 | % |
|
| 16.4 | % |
|
| 19.9 | % |
|
| 20.3 | % |
Total, before reimbursements |
| 69,580 |
|
|
| 63,095 |
|
|
| 61,698 |
|
|
| 67,228 |
|
|
| 261,601 |
|
% of Revenues before reimbursements |
| 29.3 | % |
|
| 26.9 | % |
|
| 24.4 | % |
|
| 26.1 | % |
|
| 26.6 | % |
Reimbursements |
| 8,515 |
|
|
| 8,459 |
|
|
| 8,545 |
|
|
| 8,184 |
|
|
| 33,703 |
|
Total |
| 78,095 |
|
|
| 71,554 |
|
|
| 70,243 |
|
|
| 75,412 |
|
|
| 295,304 |
|
% of Revenues |
| 31.7 | % |
|
| 29.5 | % |
|
| 26.8 | % |
|
| 28.4 | % |
|
| 29.1 | % |
Segment Operating Earnings (Loss) (1): |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting |
| (804 | ) |
|
| 4,337 |
|
|
| 8,426 |
|
|
| 1,444 |
|
|
| 13,403 |
|
% of related revenues before reimbursements |
| -1.4 | % |
|
| 8.4 | % |
|
| 14.8 | % |
|
| 2.7 | % |
|
| 6.2 | % |
International Operations |
| 1,206 |
|
|
| 9,208 |
|
|
| 7,747 |
|
|
| 12,219 |
|
|
| 30,380 |
|
% of related revenues before reimbursements |
| 1.5 | % |
|
| 11.3 | % |
|
| 9.9 | % |
|
| 14.4 | % |
|
| 9.4 | % |
Broadspire |
| 6,870 |
|
|
| 2,292 |
|
|
| 4,563 |
|
|
| 5,240 |
|
|
| 18,965 |
|
% of related revenues before reimbursements |
| 8.8 | % |
|
| 3.3 | % |
|
| 6.5 | % |
|
| 6.9 | % |
|
| 6.5 | % |
Platform Solutions |
| 3,181 |
|
|
| 7,582 |
|
|
| 9,880 |
|
|
| 5,689 |
|
|
| 26,332 |
|
% of related revenues before reimbursements |
| 12.3 | % |
|
| 23.9 | % |
|
| 20.8 | % |
|
| 12.9 | % |
|
| 17.7 | % |
(Deduct)/Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Unallocated corporate and shared costs |
| (3,440 | ) |
|
| (5,175 | ) |
|
| (2,561 | ) |
|
| (6,074 | ) |
|
| (17,250 | ) |
Goodwill impairment |
| (17,674 | ) |
| - |
|
| - |
|
| - |
|
|
| (17,674 | ) | |||
Net corporate interest expense |
| (2,224 | ) |
|
| (2,452 | ) |
|
| (1,599 | ) |
|
| (1,648 | ) |
|
| (7,923 | ) |
Stock option expense |
| (290 | ) |
|
| (286 | ) |
|
| (457 | ) |
|
| (89 | ) |
|
| (1,122 | ) |
Amortization of customer-relationship intangible assets |
| (2,756 | ) |
|
| (2,732 | ) |
|
| (3,665 | ) |
|
| (2,500 | ) |
|
| (11,653 | ) |
Restructuring and other costs, net |
| (5,714 | ) |
| - |
|
| - |
|
|
| (2,419 | ) |
|
| (8,133 | ) | ||
(Loss) gain on disposal of businesses, net | - |
|
|
| (341 | ) |
|
| 14,104 |
|
| - |
|
|
| 13,763 |
| ||
Pretax (Loss) Income |
| (21,645 | ) |
|
| 12,433 |
|
|
| 36,438 |
|
|
| 11,862 |
|
|
| 39,088 |
|
Provision for income taxes |
| 8,486 |
|
|
| (6,311 | ) |
|
| (11,729 | ) |
|
| (2,459 | ) |
|
| (12,013 | ) |
Net (Loss) Income |
| (13,159 | ) |
|
| 6,122 |
|
|
| 24,709 |
|
|
| 9,403 |
|
|
| 27,075 |
|
Net loss (income) attributable to noncontrolling interests |
| 1,760 |
|
|
| (224 | ) |
|
| (312 | ) |
|
| (3 | ) |
|
| 1,221 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net Income (Loss) Attributable to Shareholders of Crawford & Company | $ | (11,399 | ) |
| $ | 5,898 |
|
| $ | 24,397 |
|
| $ | 9,400 |
|
| $ | 28,296 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
(1) A non-GAAP financial measurement which represents net income attributable to the applicable reporting segment excluding income taxes, net corporate interest expense, stock option expense, amortization of customer-relationship intangible assets, goodwill impairment, restructuring and other costs, gain/loss on dispositions, certain unallocated corporate and shared costs. |
| ||||||||||||||||||
|
| ||||||||||||||||||
|
|
2
CRAWFORD & COMPANY |
| ||||||||||||||||||
RESULTS OF OPERATIONS BY QUARTER (UNAUDITED) |
| ||||||||||||||||||
Revised for Realignment of Reportable Segments |
| ||||||||||||||||||
|
|
|
|
|
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|
| |||||
|
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|
|
|
|
|
|
|
|
|
| ||||||||
2019 Quarterly Period | First |
|
| Second |
|
| Third |
|
| Fourth |
|
| Full Year |
| |||||
| (Dollars in thousands) |
| |||||||||||||||||
Revenues Before Reimbursements: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting | $ | 62,086 |
|
| $ | 62,232 |
|
| $ | 62,214 |
|
| $ | 58,581 |
|
| $ | 245,113 |
|
International Operations |
| 77,579 |
|
|
| 81,562 |
|
|
| 80,159 |
|
|
| 82,898 |
|
|
| 322,198 |
|
Broadspire |
| 77,196 |
|
|
| 79,819 |
|
|
| 80,376 |
|
|
| 77,850 |
|
|
| 315,241 |
|
Platform Solutions |
| 30,197 |
|
|
| 33,268 |
|
|
| 31,928 |
|
|
| 27,857 |
|
|
| 123,250 |
|
Total, before reimbursements |
| 247,058 |
|
|
| 256,881 |
|
|
| 254,677 |
|
|
| 247,186 |
|
|
| 1,005,802 |
|
Reimbursements |
| 9,319 |
|
|
| 10,965 |
|
|
| 11,165 |
|
|
| 10,376 |
|
|
| 41,825 |
|
Total Revenues |
| 256,377 |
|
|
| 267,846 |
|
|
| 265,842 |
|
|
| 257,562 |
|
|
| 1,047,627 |
|
Direct Compensation, Fringe Benefits & Non-Employee Labor: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting |
| 43,804 |
|
|
| 44,230 |
|
|
| 43,869 |
|
|
| 42,528 |
|
|
| 174,431 |
|
% of related revenues before reimbursements |
| 70.6 | % |
|
| 71.1 | % |
|
| 70.5 | % |
|
| 72.6 | % |
|
| 71.2 | % |
International Operations |
| 50,292 |
|
|
| 49,936 |
|
|
| 51,381 |
|
|
| 50,813 |
|
|
| 202,422 |
|
% of related revenues before reimbursements |
| 64.8 | % |
|
| 61.2 | % |
|
| 64.1 | % |
|
| 61.3 | % |
|
| 62.8 | % |
Broadspire |
| 47,799 |
|
|
| 50,003 |
|
|
| 48,059 |
|
|
| 48,763 |
|
|
| 194,624 |
|
% of related revenues before reimbursements |
| 61.9 | % |
|
| 62.6 | % |
|
| 59.8 | % |
|
| 62.6 | % |
|
| 61.7 | % |
Platform Solutions |
| 16,860 |
|
|
| 17,279 |
|
|
| 18,203 |
|
|
| 16,622 |
|
|
| 68,964 |
|
% of related revenues before reimbursements |
| 55.8 | % |
|
| 51.9 | % |
|
| 57.0 | % |
|
| 59.7 | % |
|
| 56.0 | % |
Total |
| 158,755 |
|
|
| 161,448 |
|
|
| 161,512 |
|
|
| 158,726 |
|
|
| 640,441 |
|
% of Revenues before reimbursements |
| 64.3 | % |
|
| 62.8 | % |
|
| 63.4 | % |
|
| 64.2 | % |
|
| 63.7 | % |
Expenses Other than Direct Compensation Fringe Benefits & Non-Employee Labor: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting |
| 15,500 |
|
|
| 15,147 |
|
|
| 13,908 |
|
|
| 12,990 |
|
|
| 57,545 |
|
% of related revenues before reimbursements |
| 25.0 | % |
|
| 24.3 | % |
|
| 22.4 | % |
|
| 22.2 | % |
|
| 23.5 | % |
International Operations |
| 23,546 |
|
|
| 27,281 |
|
|
| 28,140 |
|
|
| 25,589 |
|
|
| 104,556 |
|
% of related revenues before reimbursements |
| 30.4 | % |
|
| 33.4 | % |
|
| 35.1 | % |
|
| 30.9 | % |
|
| 32.5 | % |
Broadspire |
| 23,602 |
|
|
| 23,771 |
|
|
| 22,459 |
|
|
| 22,844 |
|
|
| 92,676 |
|
% of related revenues before reimbursements |
| 30.6 | % |
|
| 29.8 | % |
|
| 27.9 | % |
|
| 29.3 | % |
|
| 29.4 | % |
Platform Solutions |
| 6,376 |
|
|
| 8,394 |
|
|
| 5,502 |
|
|
| 5,161 |
|
|
| 25,433 |
|
% of related revenues before reimbursements |
| 21.1 | % |
|
| 25.2 | % |
|
| 17.2 | % |
|
| 18.5 | % |
|
| 20.6 | % |
Total, before reimbursements |
| 69,024 |
|
|
| 74,593 |
|
|
| 70,009 |
|
|
| 66,584 |
|
|
| 280,210 |
|
% of Revenues before reimbursements |
| 27.9 | % |
|
| 29.0 | % |
|
| 27.5 | % |
|
| 26.9 | % |
|
| 27.9 | % |
Reimbursements |
| 9,319 |
|
|
| 10,965 |
|
|
| 11,165 |
|
|
| 10,376 |
|
|
| 41,825 |
|
Total |
| 78,343 |
|
|
| 85,558 |
|
|
| 81,174 |
|
|
| 76,960 |
|
|
| 322,035 |
|
% of Revenues |
| 30.6 | % |
|
| 31.9 | % |
|
| 30.5 | % |
|
| 29.9 | % |
|
| 30.7 | % |
Segment Operating Earnings (1): |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
North America Loss Adjusting |
| 2,782 |
|
|
| 2,855 |
|
|
| 4,437 |
|
|
| 3,063 |
|
|
| 13,137 |
|
% of related revenues before reimbursements |
| 4.5 | % |
|
| 4.6 | % |
|
| 7.1 | % |
|
| 5.2 | % |
|
| 5.4 | % |
International Operations |
| 3,741 |
|
|
| 4,345 |
|
|
| 638 |
|
|
| 6,496 |
|
|
| 15,220 |
|
% of related revenues before reimbursements |
| 4.8 | % |
|
| 5.3 | % |
|
| 0.8 | % |
|
| 7.8 | % |
|
| 4.7 | % |
Broadspire |
| 5,795 |
|
|
| 6,045 |
|
|
| 9,858 |
|
|
| 6,243 |
|
|
| 27,941 |
|
% of related revenues before reimbursements |
| 7.5 | % |
|
| 7.6 | % |
|
| 12.3 | % |
|
| 8.0 | % |
|
| 8.9 | % |
Platform Solutions |
| 6,961 |
|
|
| 7,595 |
|
|
| 8,223 |
|
|
| 6,074 |
|
|
| 28,853 |
|
% of related revenues before reimbursements |
| 23.1 | % |
|
| 22.8 | % |
|
| 25.8 | % |
|
| 21.8 | % |
|
| 23.4 | % |
(Deduct)/Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Unallocated corporate and shared costs |
| (4,578 | ) |
|
| 1,678 |
|
|
| 505 |
|
|
| (5,147 | ) |
|
| (7,542 | ) |
Goodwill impairment |
| - |
|
|
| - |
|
|
| - |
|
|
| (17,484 | ) |
|
| (17,484 | ) |
Net corporate interest expense |
| (2,716 | ) |
|
| (2,468 | ) |
|
| (3,162 | ) |
|
| (2,428 | ) |
|
| (10,774 | ) |
Stock option expense |
| (485 | ) |
|
| (413 | ) |
|
| (450 | ) |
|
| (537 | ) |
|
| (1,885 | ) |
Amortization of customer-relationship intangible assets |
| (2,798 | ) |
|
| (2,802 | ) |
|
| (2,829 | ) |
|
| (2,848 | ) |
|
| (11,277 | ) |
Arbitration and claim settlements | - |
|
|
| (11,352 | ) |
|
| (1,200 | ) |
| - |
|
|
| (12,552 | ) | ||
Pretax (Loss) Income |
| 8,702 |
|
|
| 5,483 |
|
|
| 16,020 |
|
|
| (6,568 | ) |
|
| 23,637 |
|
Provision for income taxes |
| (2,933 | ) |
|
| (2,859 | ) |
|
| (5,328 | ) |
|
| (2,991 | ) |
|
| (14,111 | ) |
Net (Loss) Income |
| 5,769 |
|
|
| 2,624 |
|
|
| 10,692 |
|
|
| (9,559 | ) |
|
| 9,526 |
|
Net loss (income) attributable to noncontrolling interests |
| 340 |
|
|
| 18 |
|
|
| 355 |
|
|
| 2,246 |
|
|
| 2,959 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net Income (Loss) Attributable to Shareholders of Crawford & Company | $ | 6,109 |
|
| $ | 2,642 |
|
| $ | 11,047 |
|
| $ | (7,313 | ) |
| $ | 12,485 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
(1) A non-GAAP financial measurement which represents net income attributable to the applicable reporting segment excluding income taxes, net corporate interest expense, stock option expense, amortization of customer-relationship intangible assets, goodwill impairment, restructuring and other costs, gain/loss on dispositions, certain unallocated corporate and shared costs. |
|
3
Crawford & Company | |||||||||||||||||||||
Revenues by Geographic Area and Service Line Within Segments | |||||||||||||||||||||
By Quarter (Unaudited) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| 2021 Quarterly Period | First |
|
| Second |
|
| Third |
|
| Fourth |
|
| Full Year |
|
| |||||
|
| (Dollars in thousands) |
|
| |||||||||||||||||
| North America Loss Adjusting | $ | 56,298 |
|
| $ | 56,212 |
|
| $ | 64,334 |
|
| $ | 66,945 |
|
| $ | 243,789 |
|
|
| International Operations |
| 86,467 |
|
|
| 91,269 |
|
|
| 91,888 |
|
|
| 88,285 |
|
|
| 357,909 |
|
|
| Broadspire |
| 74,276 |
|
|
| 75,902 |
|
|
| 75,804 |
|
|
| 75,053 |
|
|
| 301,035 |
|
|
| Platform Solutions |
| 36,140 |
|
|
| 44,074 |
|
|
| 56,474 |
|
|
| 62,611 |
|
|
| 199,299 |
|
|
| Total Revenue | $ | 253,181 |
|
| $ | 267,457 |
|
| $ | 288,500 |
|
| $ | 292,894 |
|
| $ | 1,102,032 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| US | $ | 34,986 |
|
| $ | 35,737 |
|
| $ | 43,276 |
|
| $ | 44,452 |
|
| $ | 158,451 |
|
|
| Canada |
| 21,312 |
|
|
| 20,475 |
|
|
| 21,058 |
|
|
| 22,493 |
|
|
| 85,338 |
|
|
| Total North America Loss Adjusting | $ | 56,298 |
|
| $ | 56,212 |
|
| $ | 64,334 |
|
| $ | 66,945 |
|
| $ | 243,789 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| International Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| UK | $ | 29,856 |
|
| $ | 31,358 |
|
| $ | 32,530 |
|
| $ | 29,047 |
|
| $ | 122,791 |
|
|
| Europe |
| 21,743 |
|
|
| 23,208 |
|
|
| 21,851 |
|
|
| 22,183 |
|
|
| 88,985 |
|
|
| Australia |
| 18,237 |
|
|
| 20,284 |
|
|
| 20,131 |
|
|
| 18,603 |
|
|
| 77,255 |
|
|
| Asia |
| 5,119 |
|
|
| 4,225 |
|
|
| 4,671 |
|
|
| 4,855 |
|
|
| 18,870 |
|
|
| Latin America |
| 5,690 |
|
|
| 5,582 |
|
|
| 5,470 |
|
|
| 6,467 |
|
|
| 23,209 |
|
|
| Crawford Legal Services |
| 5,822 |
|
|
| 6,612 |
|
|
| 7,235 |
|
|
| 7,130 |
|
|
| 26,799 |
|
|
| Total International Operations | $ | 86,467 |
|
| $ | 91,269 |
|
| $ | 91,888 |
|
| $ | 88,285 |
|
| $ | 357,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Broadspire |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Claims Management | $ | 38,151 |
|
| $ | 37,551 |
|
| $ | 38,326 |
|
| $ | 37,314 |
|
| $ | 151,342 |
|
|
| Medical Management |
| 36,125 |
|
|
| 38,351 |
|
|
| 37,478 |
|
|
| 37,739 |
|
|
| 149,693 |
|
|
| Total Broadspire | $ | 74,276 |
|
| $ | 75,902 |
|
| $ | 75,804 |
|
| $ | 75,053 |
|
| $ | 301,035 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Platform Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Contractor Connection | $ | 16,517 |
|
| $ | 19,534 |
|
| $ | 18,592 |
|
| $ | 15,606 |
|
| $ | 70,249 |
|
|
| Network Business |
| 19,623 |
|
|
| 24,540 |
|
|
| 37,882 |
|
|
| 42,683 |
|
|
| 124,728 |
|
|
| Subrogation |
| - |
|
|
| - |
|
|
| - |
|
|
| 4,322 |
|
|
| 4,322 |
|
|
| Total Platform Solutions | $ | 36,140 |
|
| $ | 44,074 |
|
| $ | 56,474 |
|
| $ | 62,611 |
|
| $ | 199,299 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
Crawford & Company | |||||||||||||||||||||
Revenues by Geographic Area and Service Line Within Segments | |||||||||||||||||||||
By Quarter (Unaudited) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| 2020 Quarterly Period | First |
|
| Second |
|
| Third |
|
| Fourth |
|
| Full Year |
|
| |||||
|
| (Dollars in thousands) |
|
| |||||||||||||||||
| North America Loss Adjusting | $ | 55,693 |
|
| $ | 51,837 |
|
| $ | 56,800 |
|
| $ | 53,249 |
|
| $ | 217,579 |
|
|
| International Operations |
| 77,870 |
|
|
| 81,747 |
|
|
| 78,043 |
|
|
| 84,775 |
|
|
| 322,435 |
|
|
| Broadspire |
| 78,093 |
|
|
| 69,173 |
|
|
| 70,726 |
|
|
| 75,456 |
|
|
| 293,448 |
|
|
| Platform Solutions |
| 25,875 |
|
|
| 31,659 |
|
|
| 47,555 |
|
|
| 43,941 |
|
|
| 149,030 |
|
|
| Total Revenue | $ | 237,531 |
|
| $ | 234,416 |
|
| $ | 253,124 |
|
| $ | 257,421 |
|
| $ | 982,492 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| US | $ | 30,478 |
|
| $ | 31,057 |
|
| $ | 34,438 |
|
| $ | 32,368 |
|
| $ | 128,341 |
|
|
| Canada |
| 25,215 |
|
|
| 20,780 |
|
|
| 22,362 |
|
|
| 20,881 |
|
|
| 89,238 |
|
|
| Total North America Loss Adjusting | $ | 55,693 |
|
| $ | 51,837 |
|
| $ | 56,800 |
|
| $ | 53,249 |
|
| $ | 217,579 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| International Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| UK | $ | 31,339 |
|
| $ | 31,271 |
|
| $ | 28,117 |
|
| $ | 32,007 |
|
| $ | 122,734 |
|
|
| Europe |
| 21,792 |
|
|
| 22,543 |
|
|
| 20,299 |
|
|
| 22,612 |
|
|
| 87,246 |
|
|
| Australia |
| 15,545 |
|
|
| 18,779 |
|
|
| 19,946 |
|
|
| 18,810 |
|
|
| 73,080 |
|
|
| Asia |
| 5,867 |
|
|
| 5,746 |
|
|
| 5,925 |
|
|
| 5,668 |
|
|
| 23,206 |
|
|
| Latin America |
| 2,179 |
|
|
| 1,944 |
|
|
| 2,132 |
|
|
| 3,505 |
|
|
| 9,760 |
|
|
| Crawford Legal Services |
| 1,148 |
|
|
| 1,464 |
|
|
| 1,624 |
|
|
| 2,173 |
|
|
| 6,409 |
|
|
| Total International Operations | $ | 77,870 |
|
| $ | 81,747 |
|
| $ | 78,043 |
|
| $ | 84,775 |
|
| $ | 322,435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Broadspire |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Claims Management | $ | 36,024 |
|
| $ | 34,598 |
|
| $ | 35,133 |
|
| $ | 38,188 |
|
| $ | 143,943 |
|
|
| Medical Management |
| 42,069 |
|
|
| 34,575 |
|
|
| 35,593 |
|
|
| 37,268 |
|
|
| 149,505 |
|
|
| Total Broadspire | $ | 78,093 |
|
| $ | 69,173 |
|
| $ | 70,726 |
|
| $ | 75,456 |
|
| $ | 293,448 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Platform Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Contractor Connection | $ | 15,326 |
|
| $ | 17,870 |
|
| $ | 20,075 |
|
| $ | 17,734 |
|
| $ | 71,005 |
|
|
| Network Business |
| 10,549 |
|
|
| 13,789 |
|
|
| 27,480 |
|
|
| 26,207 |
|
|
| 78,025 |
|
|
| Total Platform Solutions | $ | 25,875 |
|
| $ | 31,659 |
|
| $ | 47,555 |
|
| $ | 43,941 |
|
| $ | 149,030 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5
Crawford & Company | |||||||||||||||||||||
Revenues by Geographic Area and Service Line Within Segments | |||||||||||||||||||||
By Quarter (Unaudited) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| 2019 Quarterly Period | First |
|
| Second |
|
| Third |
|
| Fourth |
|
| Full Year |
|
| |||||
|
| (Dollars in thousands) |
|
| |||||||||||||||||
| North America Loss Adjusting | $ | 62,086 |
|
| $ | 62,232 |
|
| $ | 62,214 |
|
| $ | 58,581 |
|
| $ | 245,113 |
|
|
| International Operations |
| 77,579 |
|
|
| 81,562 |
|
|
| 80,159 |
|
|
| 82,898 |
|
|
| 322,198 |
|
|
| Broadspire |
| 77,196 |
|
|
| 79,819 |
|
|
| 80,376 |
|
|
| 77,850 |
|
|
| 315,241 |
|
|
| Platform Solutions |
| 30,197 |
|
|
| 33,268 |
|
|
| 31,928 |
|
|
| 27,857 |
|
|
| 123,250 |
|
|
| Total Revenue | $ | 247,058 |
|
| $ | 256,881 |
|
| $ | 254,677 |
|
| $ | 247,186 |
|
| $ | 1,005,802 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| US | $ | 32,237 |
|
| $ | 33,438 |
|
| $ | 33,855 |
|
| $ | 31,205 |
|
| $ | 130,735 |
|
|
| Canada |
| 29,849 |
|
|
| 28,794 |
|
|
| 28,359 |
|
|
| 27,376 |
|
|
| 114,378 |
|
|
| Total North America Loss Adjusting | $ | 62,086 |
|
| $ | 62,232 |
|
| $ | 62,214 |
|
| $ | 58,581 |
|
| $ | 245,113 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| International Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| UK | $ | 30,407 |
|
| $ | 30,251 |
|
| $ | 29,597 |
|
| $ | 31,034 |
|
| $ | 121,289 |
|
|
| Europe |
| 20,913 |
|
|
| 22,047 |
|
|
| 21,668 |
|
|
| 23,127 |
|
|
| 87,755 |
|
|
| Australia |
| 16,255 |
|
|
| 19,320 |
|
|
| 18,648 |
|
|
| 16,345 |
|
|
| 70,568 |
|
|
| Asia |
| 6,413 |
|
|
| 5,935 |
|
|
| 6,602 |
|
|
| 8,411 |
|
|
| 27,361 |
|
|
| Latin America |
| 2,411 |
|
|
| 2,716 |
|
|
| 2,389 |
|
|
| 2,623 |
|
|
| 10,139 |
|
|
| Crawford Legal Services |
| 1,180 |
|
|
| 1,293 |
|
|
| 1,255 |
|
|
| 1,358 |
|
|
| 5,086 |
|
|
| Total International Operations | $ | 77,579 |
|
| $ | 81,562 |
|
| $ | 80,159 |
|
| $ | 82,898 |
|
| $ | 322,198 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Broadspire |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Claims Management | $ | 36,313 |
|
| $ | 36,035 |
|
| $ | 37,353 |
|
| $ | 35,286 |
|
| $ | 144,987 |
|
|
| Medical Management |
| 40,883 |
|
|
| 43,784 |
|
|
| 43,023 |
|
|
| 42,564 |
|
|
| 170,254 |
|
|
| Total Broadspire | $ | 77,196 |
|
| $ | 79,819 |
|
| $ | 80,376 |
|
| $ | 77,850 |
|
| $ | 315,241 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Platform Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Contractor Connection | $ | 18,187 |
|
| $ | 22,466 |
|
| $ | 19,617 |
|
| $ | 16,643 |
|
| $ | 76,913 |
|
|
| Network Business |
| 12,010 |
|
|
| 10,802 |
|
|
| 12,311 |
|
|
| 11,214 |
|
|
| 46,337 |
|
|
| Total Platform Solutions | $ | 30,197 |
|
| $ | 33,268 |
|
| $ | 31,928 |
|
| $ | 27,857 |
|
| $ | 123,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6
Crawford & Company | |||||||||||||||||
Case Volume and Full Time Equivalent Data | |||||||||||||||||
By Quarter (Unaudited) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| 2021 Quarterly Period | First |
| Second |
| Third |
| Fourth |
| Full Year |
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| CASE VOLUME ANALYSIS |
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
| 68,300 |
|
| 63,818 |
|
| 78,422 |
|
| 67,633 |
|
| 278,173 |
|
|
| International Operations |
| 104,704 |
|
| 124,246 |
|
| 113,368 |
|
| 111,176 |
|
| 453,494 |
|
|
| Broadspire |
| 125,176 |
|
| 120,961 |
|
| 124,703 |
|
| 119,813 |
|
| 490,653 |
|
|
| Platform Solutions |
| 91,612 |
|
| 107,182 |
|
| 114,255 |
|
| 117,681 |
|
| 430,730 |
|
|
| Total Company |
| 389,792 |
|
| 416,207 |
|
| 430,748 |
|
| 416,303 |
|
| 1,653,050 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
|
|
|
|
|
|
|
|
|
|
| |||||
| US |
| 35,422 |
|
| 34,157 |
|
| 45,356 |
|
| 36,024 |
|
| 150,959 |
|
|
| Canada |
| 32,878 |
|
| 29,661 |
|
| 33,066 |
|
| 31,609 |
|
| 127,214 |
|
|
| Total North America Loss Adjusting |
| 68,300 |
|
| 63,818 |
|
| 78,422 |
|
| 67,633 |
|
| 278,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| International Operations |
|
|
|
|
|
|
|
|
|
|
| |||||
| UK |
| 30,949 |
|
| 34,389 |
|
| 34,611 |
|
| 32,958 |
|
| 132,907 |
|
|
| Europe |
| 47,499 |
|
| 56,754 |
|
| 51,480 |
|
| 47,223 |
|
| 202,956 |
|
|
| Australia |
| 14,116 |
|
| 13,490 |
|
| 11,007 |
|
| 12,404 |
|
| 51,017 |
|
|
| Asia |
| 3,904 |
|
| 3,360 |
|
| 3,428 |
|
| 3,685 |
|
| 14,377 |
|
|
| Latin America |
| 5,771 |
|
| 13,447 |
|
| 9,989 |
|
| 12,336 |
|
| 41,543 |
|
|
| Crawford Legal Services |
| 2,465 |
|
| 2,806 |
|
| 2,853 |
|
| 2,570 |
|
| 10,694 |
|
|
| Total International Operations |
| 104,704 |
|
| 124,246 |
|
| 113,368 |
|
| 111,176 |
|
| 453,494 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Broadspire |
|
|
|
|
|
|
|
|
|
|
| |||||
| Claims Management |
| 91,998 |
|
| 86,843 |
|
| 91,905 |
|
| 86,310 |
|
| 357,056 |
|
|
| Medical Management |
| 33,178 |
|
| 34,118 |
|
| 32,798 |
|
| 33,503 |
|
| 133,597 |
|
|
| Total Broadspire |
| 125,176 |
|
| 120,961 |
|
| 124,703 |
|
| 119,813 |
|
| 490,653 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Platform Solutions |
|
|
|
|
|
|
|
|
|
|
| |||||
| Contractor Connection |
| 42,594 |
|
| 46,824 |
|
| 46,241 |
|
| 37,311 |
|
| 172,970 |
|
|
| Network Business |
| 49,018 |
|
| 60,358 |
|
| 68,014 |
|
| 73,208 |
|
| 250,598 |
|
|
| Subrogation |
| - |
|
| - |
|
| - |
|
| 7,162 |
|
| 7,162 |
|
|
| Total Platform Solutions |
| 91,612 |
|
| 107,182 |
|
| 114,255 |
|
| 117,681 |
|
| 430,730 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| AVERAGE FULL TIME EQUIVALENT EMPLOYEE DATA |
|
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
| 1,734 |
|
| 1,727 |
|
| 1,725 |
|
| 1,778 |
|
| 1,741 |
|
|
| International Operations |
| 3,453 |
|
| 3,481 |
|
| 3,528 |
|
| 3,541 |
|
| 3,501 |
|
|
| Broadspire |
| 2,215 |
|
| 2,221 |
|
| 2,235 |
|
| 2,266 |
|
| 2,234 |
|
|
| Platform Solutions |
| 796 |
|
| 880 |
|
| 961 |
|
| 1,080 |
|
| 929 |
|
|
| Administration |
| 722 |
|
| 714 |
|
| 715 |
|
| 723 |
|
| 718 |
|
|
| Total Company |
| 8,920 |
|
| 9,023 |
|
| 9,164 |
|
| 9,387 |
|
| 9,124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7
Crawford & Company | |||||||||||||||||
Case Volume and Full Time Equivalent Data | |||||||||||||||||
By Quarter (Unaudited) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| 2020 Quarterly Period | First |
| Second |
| Third |
| Fourth |
| Full Year |
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| CASE VOLUME ANALYSIS |
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
| 73,145 |
|
| 69,473 |
|
| 75,183 |
|
| 68,808 |
|
| 286,609 |
|
|
| International Operations |
| 109,379 |
|
| 118,470 |
|
| 99,991 |
|
| 105,600 |
|
| 433,440 |
|
|
| Broadspire |
| 126,673 |
|
| 101,224 |
|
| 130,272 |
|
| 118,069 |
|
| 476,238 |
|
|
| Platform Solutions |
| 78,485 |
|
| 79,318 |
|
| 112,455 |
|
| 95,210 |
|
| 365,468 |
|
|
| Total Company |
| 387,682 |
|
| 368,485 |
|
| 417,901 |
|
| 387,687 |
|
| 1,561,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
|
|
|
|
|
|
|
|
|
|
| |||||
| US |
| 34,600 |
|
| 35,081 |
|
| 42,933 |
|
| 33,884 |
|
| 146,498 |
|
|
| Canada |
| 38,545 |
|
| 34,392 |
|
| 32,250 |
|
| 34,924 |
|
| 140,111 |
|
|
| Total North America Loss Adjusting |
| 73,145 |
|
| 69,473 |
|
| 75,183 |
|
| 68,808 |
|
| 286,609 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| International Operations |
|
|
|
|
|
|
|
|
|
|
| |||||
| UK |
| 26,929 |
|
| 27,213 |
|
| 25,384 |
|
| 31,731 |
|
| 111,257 |
|
|
| Europe |
| 61,068 |
|
| 67,453 |
|
| 54,466 |
|
| 53,374 |
|
| 236,361 |
|
|
| Australia |
| 12,648 |
|
| 15,694 |
|
| 11,664 |
|
| 10,512 |
|
| 50,518 |
|
|
| Asia |
| 4,683 |
|
| 4,123 |
|
| 4,127 |
|
| 4,084 |
|
| 17,017 |
|
|
| Latin America |
| 2,999 |
|
| 2,323 |
|
| 2,662 |
|
| 3,572 |
|
| 11,556 |
|
|
| CLS |
| 1,052 |
|
| 1,664 |
|
| 1,688 |
|
| 2,327 |
|
| 6,731 |
|
|
| Total International Operations |
| 109,379 |
|
| 118,470 |
|
| 99,991 |
|
| 105,600 |
|
| 433,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Broadspire |
|
|
|
|
|
|
|
|
|
|
| |||||
| Claims Management |
| 90,462 |
|
| 71,829 |
|
| 96,364 |
|
| 85,848 |
|
| 344,503 |
|
|
| Medical Management |
| 36,211 |
|
| 29,395 |
|
| 33,908 |
|
| 32,221 |
|
| 131,735 |
|
|
| Total Broadspire |
| 126,673 |
|
| 101,224 |
|
| 130,272 |
|
| 118,069 |
|
| 476,238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Platform Solutions |
|
|
|
|
|
|
|
|
|
|
| |||||
| Contractor Connection |
| 41,355 |
|
| 47,620 |
|
| 52,206 |
|
| 42,800 |
|
| 183,981 |
|
|
| Network Business |
| 37,130 |
|
| 31,698 |
|
| 60,249 |
|
| 52,410 |
|
| 181,487 |
|
|
| Total Platform Solutions |
| 78,485 |
|
| 79,318 |
|
| 112,455 |
|
| 95,210 |
|
| 365,468 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| AVERAGE FULL TIME EQUIVALENT EMPLOYEE DATA |
|
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
| 1,978 |
|
| 1,896 |
|
| 1,859 |
|
| 1,841 |
|
| 1,894 |
|
|
| International Operations |
| 2,883 |
|
| 2,921 |
|
| 2,905 |
|
| 2,925 |
|
| 2,908 |
|
|
| Broadspire |
| 2,305 |
|
| 2,240 |
|
| 2,207 |
|
| 2,202 |
|
| 2,239 |
|
|
| Platform Solutions |
| 663 |
|
| 672 |
|
| 717 |
|
| 794 |
|
| 712 |
|
|
| Administration |
| 706 |
|
| 692 |
|
| 698 |
|
| 703 |
|
| 700 |
|
|
| Total Company |
| 8,535 |
|
| 8,421 |
|
| 8,386 |
|
| 8,465 |
|
| 8,452 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
Crawford & Company | |||||||||||||||||
Case Volume and Full Time Equivalent Data | |||||||||||||||||
By Quarter (Unaudited) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| 2019 Quarterly Period | First |
| Second |
| Third |
| Fourth |
| Full Year |
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| CASE VOLUME ANALYSIS |
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
| 93,170 |
|
| 81,923 |
|
| 81,949 |
|
| 70,088 |
|
| 327,130 |
|
|
| International Operations |
| 108,089 |
|
| 111,961 |
|
| 112,906 |
|
| 111,716 |
|
| 444,672 |
|
|
| Broadspire |
| 119,963 |
|
| 119,070 |
|
| 130,718 |
|
| 120,200 |
|
| 489,951 |
|
|
| Platform Solutions |
| 86,085 |
|
| 89,571 |
|
| 87,196 |
|
| 75,405 |
|
| 338,257 |
|
|
| Total Company |
| 407,307 |
|
| 402,525 |
|
| 412,769 |
|
| 377,409 |
|
| 1,600,010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
|
|
|
|
|
|
|
|
|
|
| |||||
| US |
| 40,329 |
|
| 39,211 |
|
| 38,816 |
|
| 33,989 |
|
| 152,345 |
|
|
| Canada |
| 52,841 |
|
| 42,712 |
|
| 43,133 |
|
| 36,099 |
|
| 174,785 |
|
|
| Total North America Loss Adjusting |
| 93,170 |
|
| 81,923 |
|
| 81,949 |
|
| 70,088 |
|
| 327,130 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| International Operations |
|
|
|
|
|
|
|
|
|
|
| |||||
| UK |
| 23,617 |
|
| 25,702 |
|
| 26,421 |
|
| 29,941 |
|
| 105,681 |
|
|
| Europe |
| 63,081 |
|
| 63,025 |
|
| 66,858 |
|
| 64,132 |
|
| 257,096 |
|
|
| Australia |
| 11,799 |
|
| 13,426 |
|
| 9,435 |
|
| 8,103 |
|
| 42,763 |
|
|
| Asia |
| 5,244 |
|
| 5,298 |
|
| 6,113 |
|
| 5,615 |
|
| 22,270 |
|
|
| Latin America |
| 3,146 |
|
| 3,415 |
|
| 3,165 |
|
| 2,987 |
|
| 12,713 |
|
|
| CLS |
| 1,202 |
|
| 1,095 |
|
| 914 |
|
| 938 |
|
| 4,149 |
|
|
| Total International Operations |
| 108,089 |
|
| 111,961 |
|
| 112,906 |
|
| 111,716 |
|
| 444,672 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Broadspire |
|
|
|
|
|
|
|
|
|
|
| |||||
| Claims Management |
| 84,271 |
|
| 84,409 |
|
| 93,765 |
|
| 84,168 |
|
| 346,613 |
|
|
| Medical Management |
| 35,692 |
|
| 34,661 |
|
| 36,953 |
|
| 36,032 |
|
| 143,338 |
|
|
| Total Broadspire |
| 119,963 |
|
| 119,070 |
|
| 130,718 |
|
| 120,200 |
|
| 489,951 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Platform Solutions |
|
|
|
|
|
|
|
|
|
|
| |||||
| Contractor Connection |
| 51,743 |
|
| 53,079 |
|
| 51,316 |
|
| 42,510 |
|
| 198,648 |
|
|
| Network Business |
| 34,342 |
|
| 36,492 |
|
| 35,880 |
|
| 32,895 |
|
| 139,609 |
|
|
| Total Platform Solutions |
| 86,085 |
|
| 89,571 |
|
| 87,196 |
|
| 75,405 |
|
| 338,257 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| AVERAGE FULL TIME EQUIVALENT EMPLOYEE DATA |
|
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| North America Loss Adjusting |
| 2,083 |
|
| 2,064 |
|
| 2,068 |
|
| 2,054 |
|
| 2,067 |
|
|
| International Operations |
| 2,902 |
|
| 2,902 |
|
| 2,892 |
|
| 2,888 |
|
| 2,896 |
|
|
| Broadspire |
| 2,217 |
|
| 2,225 |
|
| 2,242 |
|
| 2,251 |
|
| 2,234 |
|
|
| Platform Solutions |
| 722 |
|
| 725 |
|
| 736 |
|
| 737 |
|
| 730 |
|
|
| Administration |
| 622 |
|
| 625 |
|
| 642 |
|
| 654 |
|
| 636 |
|
|
| Total Company |
| 8,546 |
|
| 8,541 |
|
| 8,580 |
|
| 8,585 |
|
| 8,563 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9