Attached files
file | filename |
---|---|
EX-99.2 - EX-99.2 - CRAWFORD & CO | crda-ex992_10.htm |
8-K - 8-K - CRAWFORD & CO | crda-8k_20210331.htm |
Exhibit 99.1
CRAWFORD & COMPANY
RESULTS OF OPERATIONS BY QUARTER (UNAUDITED)
Revised for Realignment of Reportable Segments
2020 Quarterly Period |
First |
|
|
Second |
|
|
Third |
|
|
Fourth |
|
|
Full Year |
|
|||||
|
(Dollars in thousands) |
|
|||||||||||||||||
Revenues Before Reimbursements: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
$ |
107,104 |
|
|
$ |
109,062 |
|
|
$ |
110,928 |
|
|
$ |
111,397 |
|
|
$ |
438,491 |
|
Crawford TPA Solutions |
|
97,997 |
|
|
|
88,668 |
|
|
|
88,909 |
|
|
|
95,818 |
|
|
|
371,392 |
|
Crawford Platform Solutions |
|
32,430 |
|
|
|
36,686 |
|
|
|
53,287 |
|
|
|
50,206 |
|
|
|
172,609 |
|
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: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
70,573 |
|
|
|
65,571 |
|
|
|
66,155 |
|
|
|
67,518 |
|
|
|
269,817 |
|
% of related revenues before reimbursements |
|
65.9 |
% |
|
|
60.1 |
% |
|
|
59.6 |
% |
|
|
60.6 |
% |
|
|
61.5 |
% |
Crawford TPA Solutions |
|
61,400 |
|
|
|
56,937 |
|
|
|
56,703 |
|
|
|
59,139 |
|
|
|
234,179 |
|
% of related revenues before reimbursements |
|
62.7 |
% |
|
|
64.2 |
% |
|
|
63.8 |
% |
|
|
61.7 |
% |
|
|
63.1 |
% |
Crawford Platform Solutions |
|
20,409 |
|
|
|
21,170 |
|
|
|
33,516 |
|
|
|
33,612 |
|
|
|
108,707 |
|
% of related revenues before reimbursements |
|
62.9 |
% |
|
|
57.7 |
% |
|
|
62.9 |
% |
|
|
66.9 |
% |
|
|
63.0 |
% |
Total |
|
152,382 |
|
|
|
143,678 |
|
|
|
156,374 |
|
|
|
160,269 |
|
|
|
612,703 |
|
% of Revenues before reimbursements |
|
64.2 |
% |
|
|
61.3 |
% |
|
|
61.8 |
% |
|
|
62.3 |
% |
|
|
62.4 |
% |
Expenses Other than Direct Compensation, Fringe Benefits & Non-Employee Labor: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
35,859 |
|
|
|
33,449 |
|
|
|
30,634 |
|
|
|
27,628 |
|
|
|
127,570 |
|
% of related revenues before reimbursements |
|
33.5 |
% |
|
|
30.8 |
% |
|
|
27.6 |
% |
|
|
24.7 |
% |
|
|
29.1 |
% |
Crawford TPA Solutions |
|
30,299 |
|
|
|
28,609 |
|
|
|
27,918 |
|
|
|
29,880 |
|
|
|
116,706 |
|
% of related revenues before reimbursements |
|
30.9 |
% |
|
|
32.3 |
% |
|
|
31.4 |
% |
|
|
31.2 |
% |
|
|
31.5 |
% |
Crawford Platform Solutions |
|
8,882 |
|
|
|
8,371 |
|
|
|
9,116 |
|
|
|
9,883 |
|
|
|
36,252 |
|
% of related revenues before reimbursements |
|
27.4 |
% |
|
|
22.8 |
% |
|
|
17.1 |
% |
|
|
19.7 |
% |
|
|
21.0 |
% |
Total, before reimbursements |
|
75,040 |
|
|
|
70,429 |
|
|
|
67,668 |
|
|
|
67,391 |
|
|
|
280,528 |
|
% of Revenues before reimbursements |
|
31.6 |
% |
|
|
30.0 |
% |
|
|
26.7 |
% |
|
|
26.2 |
% |
|
|
28.6 |
% |
Reimbursements |
|
8,515 |
|
|
|
8,459 |
|
|
|
8,545 |
|
|
|
8,184 |
|
|
|
33,703 |
|
Total |
|
83,555 |
|
|
|
78,888 |
|
|
|
76,213 |
|
|
|
75,575 |
|
|
|
314,231 |
|
% of Revenues |
|
34.0 |
% |
|
|
32.5 |
% |
|
|
29.1 |
% |
|
|
28.5 |
% |
|
|
30.9 |
% |
Segment Operating Earnings (1): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
672 |
|
|
|
10,042 |
|
|
|
14,139 |
|
|
|
16,251 |
|
|
|
41,104 |
|
% of related revenues before reimbursements |
|
0.6 |
% |
|
|
9.2 |
% |
|
|
12.7 |
% |
|
|
14.6 |
% |
|
|
9.4 |
% |
Crawford TPA Solutions |
|
6,298 |
|
|
|
3,122 |
|
|
|
4,288 |
|
|
|
6,799 |
|
|
|
20,507 |
|
% of related revenues before reimbursements |
|
6.4 |
% |
|
|
3.5 |
% |
|
|
4.8 |
% |
|
|
7.1 |
% |
|
|
5.5 |
% |
Crawford Platform Solutions |
|
3,139 |
|
|
|
7,145 |
|
|
|
10,655 |
|
|
|
6,711 |
|
|
|
27,650 |
|
% of related revenues before reimbursements |
|
9.7 |
% |
|
|
19.5 |
% |
|
|
20.0 |
% |
|
|
13.4 |
% |
|
|
16.0 |
% |
Deduct: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unallocated corporate and shared costs |
|
(3,096 |
) |
|
|
(2,066 |
) |
|
|
(1,027 |
) |
|
|
(11,242 |
) |
|
|
(17,431 |
) |
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 |
) |
|
|
12,432 |
|
|
|
36,438 |
|
|
|
11,863 |
|
|
|
39,088 |
|
Provision for income taxes |
|
8,486 |
|
|
|
(6,311 |
) |
|
|
(11,729 |
) |
|
|
(2,459 |
) |
|
|
(12,013 |
) |
Net (Loss) Income |
|
(13,159 |
) |
|
|
6,121 |
|
|
|
24,709 |
|
|
|
9,404 |
|
|
|
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 |
) |
|
$ |
5,897 |
|
|
$ |
24,397 |
|
|
$ |
9,401 |
|
|
$ |
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 acquisition-related intangible assets, goodwill impairment, restructuring and other costs, gain/loss on dispositions, and certain unallocated corporate and shared costs.
Page 1 of 5
CRAWFORD & COMPANY
RESULTS OF OPERATIONS BY QUARTER (UNAUDITED)
Revised for Realignment of Reportable Segments
2019 Quarterly Period |
First |
|
|
Second |
|
|
Third |
|
|
Fourth |
|
|
Full Year |
|
|||||
|
(Dollars in thousands) |
|
|||||||||||||||||
Revenues Before Reimbursements: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
$ |
111,768 |
|
|
$ |
116,288 |
|
|
$ |
115,495 |
|
|
$ |
113,933 |
|
|
$ |
457,484 |
|
Crawford TPA Solutions |
|
98,185 |
|
|
|
100,755 |
|
|
|
100,504 |
|
|
|
98,182 |
|
|
|
397,626 |
|
Crawford Platform Solutions |
|
37,105 |
|
|
|
39,838 |
|
|
|
38,678 |
|
|
|
35,071 |
|
|
|
150,692 |
|
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: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
71,389 |
|
|
|
71,388 |
|
|
|
71,841 |
|
|
|
70,282 |
|
|
|
284,900 |
|
% of related revenues before reimbursements |
|
63.9 |
% |
|
|
61.4 |
% |
|
|
62.2 |
% |
|
|
61.7 |
% |
|
|
62.3 |
% |
Crawford TPA Solutions |
|
60,859 |
|
|
|
63,543 |
|
|
|
61,141 |
|
|
|
61,343 |
|
|
|
246,886 |
|
% of related revenues before reimbursements |
|
62.0 |
% |
|
|
63.1 |
% |
|
|
60.8 |
% |
|
|
62.5 |
% |
|
|
62.1 |
% |
Crawford Platform Solutions |
|
21,728 |
|
|
|
22,329 |
|
|
|
23,367 |
|
|
|
21,643 |
|
|
|
89,067 |
|
% of related revenues before reimbursements |
|
58.6 |
% |
|
|
56.0 |
% |
|
|
60.4 |
% |
|
|
61.7 |
% |
|
|
59.1 |
% |
Total |
|
153,976 |
|
|
|
157,260 |
|
|
|
156,349 |
|
|
|
153,268 |
|
|
|
620,853 |
|
% of Revenues before reimbursements |
|
62.3 |
% |
|
|
61.2 |
% |
|
|
61.4 |
% |
|
|
62.0 |
% |
|
|
61.7 |
% |
Expenses Other than Direct Compensation, Fringe Benefits & Non-Employee Labor: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
34,901 |
|
|
|
37,906 |
|
|
|
35,092 |
|
|
|
34,560 |
|
|
|
142,459 |
|
% of related revenues before reimbursements |
|
31.2 |
% |
|
|
32.7 |
% |
|
|
30.4 |
% |
|
|
30.2 |
% |
|
|
31.1 |
% |
Crawford TPA Solutions |
|
31,026 |
|
|
|
31,291 |
|
|
|
29,798 |
|
|
|
30,119 |
|
|
|
122,234 |
|
% of related revenues before reimbursements |
|
31.6 |
% |
|
|
31.1 |
% |
|
|
29.6 |
% |
|
|
30.7 |
% |
|
|
30.8 |
% |
Crawford Platform Solutions |
|
8,489 |
|
|
|
10,780 |
|
|
|
8,107 |
|
|
|
7,572 |
|
|
|
34,948 |
|
% of related revenues before reimbursements |
|
22.9 |
% |
|
|
27.1 |
% |
|
|
21.0 |
% |
|
|
21.6 |
% |
|
|
23.2 |
% |
Total, before reimbursements |
|
74,416 |
|
|
|
79,977 |
|
|
|
72,997 |
|
|
|
72,251 |
|
|
|
299,641 |
|
% of Revenues before reimbursements |
|
30.1 |
% |
|
|
31.1 |
% |
|
|
28.7 |
% |
|
|
29.2 |
% |
|
|
29.8 |
% |
Reimbursements |
|
9,319 |
|
|
|
10,965 |
|
|
|
11,165 |
|
|
|
10,376 |
|
|
|
41,825 |
|
Total |
|
83,735 |
|
|
|
90,942 |
|
|
|
84,162 |
|
|
|
82,627 |
|
|
|
341,466 |
|
% of Revenues |
|
32.7 |
% |
|
|
34.0 |
% |
|
|
31.7 |
% |
|
|
32.1 |
% |
|
|
32.6 |
% |
Segment Operating Earnings (1): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
5,478 |
|
|
|
6,994 |
|
|
|
8,562 |
|
|
|
9,091 |
|
|
|
30,125 |
|
% of related revenues before reimbursements |
|
4.9 |
% |
|
|
6.0 |
% |
|
|
7.4 |
% |
|
|
8.0 |
% |
|
|
6.6 |
% |
Crawford TPA Solutions |
|
6,300 |
|
|
|
5,921 |
|
|
|
9,565 |
|
|
|
6,720 |
|
|
|
28,506 |
|
% of related revenues before reimbursements |
|
6.4 |
% |
|
|
5.9 |
% |
|
|
9.5 |
% |
|
|
6.8 |
% |
|
|
7.2 |
% |
Crawford Platform Solutions |
|
6,888 |
|
|
|
6,729 |
|
|
|
7,204 |
|
|
|
5,856 |
|
|
|
26,677 |
|
% of related revenues before reimbursements |
|
18.6 |
% |
|
|
16.9 |
% |
|
|
18.6 |
% |
|
|
16.7 |
% |
|
|
17.7 |
% |
Deduct: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unallocated corporate and shared costs |
|
(3,965 |
) |
|
|
2,874 |
|
|
|
(1,671 |
) |
|
|
(4,937 |
) |
|
|
(7,699 |
) |
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 Income (Loss) |
|
8,702 |
|
|
|
5,483 |
|
|
|
16,019 |
|
|
|
(6,567 |
) |
|
|
23,637 |
|
Provision for income taxes |
|
(2,933 |
) |
|
|
(2,859 |
) |
|
|
(5,328 |
) |
|
|
(2,991 |
) |
|
|
(14,111 |
) |
Net Income (Loss) |
|
5,769 |
|
|
|
2,624 |
|
|
|
10,691 |
|
|
|
(9,558 |
) |
|
|
9,526 |
|
Net loss attributable to noncontrolling interests |
|
340 |
|
|
|
18 |
|
|
|
355 |
|
|
|
2,246 |
|
|
|
2,959 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) Attributable to Shareholders of Crawford & Company |
$ |
6,109 |
|
|
$ |
2,642 |
|
|
$ |
11,046 |
|
|
$ |
(7,312 |
) |
|
$ |
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 acquisition-related intangible assets, goodwill impairment, arbitration and claim settlements, and certain unallocated corporate and shared costs.
Page 2 of 5
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) |
|
|||||||||||||||||
Crawford Loss Adjusting |
$ |
107,104 |
|
|
$ |
109,062 |
|
|
$ |
110,928 |
|
|
$ |
111,397 |
|
|
$ |
438,491 |
|
Crawford TPA Solutions |
|
97,997 |
|
|
|
88,668 |
|
|
|
88,909 |
|
|
|
95,818 |
|
|
|
371,392 |
|
Crawford Platform Solutions |
|
32,430 |
|
|
|
36,686 |
|
|
|
53,287 |
|
|
|
50,206 |
|
|
|
172,609 |
|
Total Revenue |
$ |
237,531 |
|
|
$ |
234,416 |
|
|
$ |
253,124 |
|
|
$ |
257,421 |
|
|
$ |
982,492 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US |
$ |
30,478 |
|
|
$ |
31,057 |
|
|
$ |
34,438 |
|
|
$ |
32,369 |
|
|
$ |
128,342 |
|
UK |
|
26,192 |
|
|
|
26,843 |
|
|
|
24,568 |
|
|
|
27,844 |
|
|
|
105,447 |
|
Canada |
|
15,645 |
|
|
|
13,226 |
|
|
|
13,797 |
|
|
|
12,884 |
|
|
|
55,552 |
|
Australia |
|
14,793 |
|
|
|
17,942 |
|
|
|
18,855 |
|
|
|
17,817 |
|
|
|
69,407 |
|
Europe |
|
12,080 |
|
|
|
12,426 |
|
|
|
11,631 |
|
|
|
12,594 |
|
|
|
48,731 |
|
Rest of World |
|
7,916 |
|
|
|
7,568 |
|
|
|
7,639 |
|
|
|
7,889 |
|
|
|
31,012 |
|
Total Crawford Loss Adjusting |
$ |
107,104 |
|
|
$ |
109,062 |
|
|
$ |
110,928 |
|
|
$ |
111,397 |
|
|
$ |
438,491 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford TPA Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US |
$ |
78,093 |
|
|
$ |
69,173 |
|
|
$ |
70,726 |
|
|
$ |
75,456 |
|
|
$ |
293,448 |
|
UK |
|
4,013 |
|
|
|
4,227 |
|
|
|
4,145 |
|
|
|
4,145 |
|
|
|
16,530 |
|
Canada |
|
6,449 |
|
|
|
5,583 |
|
|
|
5,489 |
|
|
|
5,152 |
|
|
|
22,673 |
|
Europe |
|
8,580 |
|
|
|
8,814 |
|
|
|
7,603 |
|
|
|
8,506 |
|
|
|
33,503 |
|
Rest of World |
|
862 |
|
|
|
871 |
|
|
|
946 |
|
|
|
2,559 |
|
|
|
5,238 |
|
Total Crawford TPA Solutions |
$ |
97,997 |
|
|
$ |
88,668 |
|
|
$ |
88,909 |
|
|
$ |
95,818 |
|
|
$ |
371,392 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Claims Management |
$ |
55,928 |
|
|
$ |
54,093 |
|
|
$ |
53,316 |
|
|
$ |
58,549 |
|
|
$ |
221,886 |
|
Medical Management |
|
42,069 |
|
|
|
34,575 |
|
|
|
35,593 |
|
|
|
37,269 |
|
|
|
149,506 |
|
Total Crawford TPA Solutions |
$ |
97,997 |
|
|
$ |
88,668 |
|
|
$ |
88,909 |
|
|
$ |
95,818 |
|
|
$ |
371,392 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Platform Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US |
$ |
25,875 |
|
|
$ |
31,659 |
|
|
$ |
47,555 |
|
|
$ |
43,941 |
|
|
$ |
149,030 |
|
UK |
|
2,178 |
|
|
|
1,489 |
|
|
|
1,354 |
|
|
|
1,676 |
|
|
|
6,697 |
|
Canada |
|
3,126 |
|
|
|
2,044 |
|
|
|
2,981 |
|
|
|
2,787 |
|
|
|
10,938 |
|
Europe and Rest of World |
|
1,251 |
|
|
|
1,494 |
|
|
|
1,397 |
|
|
|
1,802 |
|
|
|
5,944 |
|
Total Crawford Platform Solutions |
$ |
32,430 |
|
|
$ |
36,686 |
|
|
$ |
53,287 |
|
|
$ |
50,206 |
|
|
$ |
172,609 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractor Connection |
$ |
19,038 |
|
|
$ |
20,748 |
|
|
$ |
23,542 |
|
|
$ |
21,346 |
|
|
$ |
84,674 |
|
Network Business |
|
13,392 |
|
|
|
15,938 |
|
|
|
29,745 |
|
|
|
28,860 |
|
|
|
87,935 |
|
Total Crawford Platform Solutions |
$ |
32,430 |
|
|
$ |
36,686 |
|
|
$ |
53,287 |
|
|
$ |
50,206 |
|
|
$ |
172,609 |
|
Page 3 of 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) |
|
|||||||||||||||||
Crawford Loss Adjusting |
$ |
111,768 |
|
|
$ |
116,288 |
|
|
$ |
115,495 |
|
|
$ |
113,933 |
|
|
$ |
457,484 |
|
Crawford TPA Solutions |
|
98,185 |
|
|
|
100,755 |
|
|
|
100,504 |
|
|
|
98,182 |
|
|
|
397,626 |
|
Crawford Platform Solutions |
|
37,105 |
|
|
|
39,838 |
|
|
|
38,678 |
|
|
|
35,071 |
|
|
|
150,692 |
|
Total Revenue |
$ |
247,058 |
|
|
$ |
256,881 |
|
|
$ |
254,677 |
|
|
$ |
247,186 |
|
|
$ |
1,005,802 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US |
$ |
32,237 |
|
|
$ |
33,438 |
|
|
$ |
33,855 |
|
|
$ |
31,205 |
|
|
$ |
130,735 |
|
UK |
|
26,304 |
|
|
|
26,074 |
|
|
|
25,575 |
|
|
|
26,355 |
|
|
|
104,308 |
|
Canada |
|
18,060 |
|
|
|
18,033 |
|
|
|
17,669 |
|
|
|
17,186 |
|
|
|
70,948 |
|
Australia |
|
15,662 |
|
|
|
18,617 |
|
|
|
17,821 |
|
|
|
15,589 |
|
|
|
67,689 |
|
Europe |
|
10,937 |
|
|
|
11,715 |
|
|
|
11,842 |
|
|
|
12,832 |
|
|
|
47,326 |
|
Rest of World |
|
8,568 |
|
|
|
8,411 |
|
|
|
8,733 |
|
|
|
10,766 |
|
|
|
36,478 |
|
Total Crawford Loss Adjusting |
$ |
111,768 |
|
|
$ |
116,288 |
|
|
$ |
115,495 |
|
|
$ |
113,933 |
|
|
$ |
457,484 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford TPA Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US |
$ |
77,196 |
|
|
$ |
79,819 |
|
|
$ |
80,376 |
|
|
$ |
77,850 |
|
|
$ |
315,241 |
|
UK |
|
3,709 |
|
|
|
4,276 |
|
|
|
3,987 |
|
|
|
4,368 |
|
|
|
16,340 |
|
Canada |
|
7,577 |
|
|
|
6,806 |
|
|
|
6,968 |
|
|
|
6,476 |
|
|
|
27,827 |
|
Europe |
|
9,029 |
|
|
|
9,124 |
|
|
|
8,309 |
|
|
|
8,647 |
|
|
|
35,109 |
|
Rest of World |
|
674 |
|
|
|
730 |
|
|
|
864 |
|
|
|
841 |
|
|
|
3,109 |
|
Total Crawford TPA Solutions |
$ |
98,185 |
|
|
$ |
100,755 |
|
|
$ |
100,504 |
|
|
$ |
98,182 |
|
|
$ |
397,626 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Claims Management |
$ |
57,302 |
|
|
$ |
56,971 |
|
|
$ |
57,480 |
|
|
$ |
55,617 |
|
|
$ |
227,370 |
|
Medical Management |
|
40,883 |
|
|
|
43,784 |
|
|
|
43,024 |
|
|
|
42,565 |
|
|
|
170,256 |
|
Total Crawford TPA Solutions |
$ |
98,185 |
|
|
$ |
100,755 |
|
|
$ |
100,504 |
|
|
$ |
98,182 |
|
|
$ |
397,626 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Platform Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US |
$ |
30,197 |
|
|
$ |
33,268 |
|
|
$ |
31,928 |
|
|
$ |
27,858 |
|
|
$ |
123,251 |
|
UK |
|
1,537 |
|
|
|
1,184 |
|
|
|
1,298 |
|
|
|
1,646 |
|
|
|
5,665 |
|
Canada |
|
4,247 |
|
|
|
3,963 |
|
|
|
3,714 |
|
|
|
3,740 |
|
|
|
15,664 |
|
Europe and Rest of World |
|
1,124 |
|
|
|
1,423 |
|
|
|
1,738 |
|
|
|
1,827 |
|
|
|
6,112 |
|
Total Crawford Platform Solutions |
$ |
37,105 |
|
|
$ |
39,838 |
|
|
$ |
38,678 |
|
|
$ |
35,071 |
|
|
$ |
150,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractor Connection |
$ |
21,572 |
|
|
$ |
26,051 |
|
|
$ |
22,892 |
|
|
$ |
20,158 |
|
|
$ |
90,673 |
|
Network Business |
|
15,533 |
|
|
|
13,787 |
|
|
|
15,786 |
|
|
|
14,913 |
|
|
|
60,019 |
|
Total Crawford Platform Solutions |
$ |
37,105 |
|
|
$ |
39,838 |
|
|
$ |
38,678 |
|
|
$ |
35,071 |
|
|
$ |
150,692 |
|
Page 4 of 5
CRAWFORD & COMPANY
CASE VOLUME AND FULL TIME EQUIVALENT DATA
BY QUARTER (UNAUDITED)
Quarterly Period |
|
First |
|
|
Second |
|
|
Third |
|
|
Fourth |
|
|
Full Year |
|
||||||||||||||||||||
|
|
2020 |
|
2019 |
|
|
2020 |
|
2019 |
|
|
2020 |
|
2019 |
|
|
2020 |
|
2019 |
|
|
2020 |
|
2019 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASE VOLUME ANALYSIS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
|
83,101 |
|
|
94,466 |
|
|
|
84,686 |
|
|
92,362 |
|
|
|
89,557 |
|
|
88,056 |
|
|
|
80,593 |
|
|
79,968 |
|
|
|
337,937 |
|
|
354,852 |
|
Crawford TPA Solutions |
|
|
207,486 |
|
|
204,095 |
|
|
|
187,045 |
|
|
199,613 |
|
|
|
196,385 |
|
|
215,758 |
|
|
|
188,207 |
|
|
203,225 |
|
|
|
779,123 |
|
|
822,691 |
|
Crawford Platform Solutions |
|
|
97,088 |
|
|
108,634 |
|
|
|
96,741 |
|
|
110,482 |
|
|
|
131,948 |
|
|
108,908 |
|
|
|
118,856 |
|
|
94,209 |
|
|
|
444,633 |
|
|
422,233 |
|
Total Company |
|
|
387,675 |
|
|
407,195 |
|
|
|
368,472 |
|
|
402,457 |
|
|
|
417,890 |
|
|
412,722 |
|
|
|
387,656 |
|
|
377,402 |
|
|
|
1,561,693 |
|
|
1,599,776 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US |
|
|
34,445 |
|
|
40,153 |
|
|
|
35,022 |
|
|
39,101 |
|
|
|
42,876 |
|
|
38,766 |
|
|
|
33,837 |
|
|
33,980 |
|
|
|
146,180 |
|
|
152,000 |
|
UK |
|
|
13,012 |
|
|
13,911 |
|
|
|
14,544 |
|
|
13,356 |
|
|
|
14,503 |
|
|
13,443 |
|
|
|
16,010 |
|
|
14,236 |
|
|
|
58,069 |
|
|
54,946 |
|
Canada |
|
|
7,991 |
|
|
13,804 |
|
|
|
6,586 |
|
|
11,471 |
|
|
|
7,877 |
|
|
11,546 |
|
|
|
6,585 |
|
|
9,125 |
|
|
|
29,039 |
|
|
45,946 |
|
Australia |
|
|
11,858 |
|
|
10,847 |
|
|
|
14,900 |
|
|
12,625 |
|
|
|
10,352 |
|
|
8,560 |
|
|
|
9,560 |
|
|
7,545 |
|
|
|
46,670 |
|
|
39,577 |
|
Europe |
|
|
9,485 |
|
|
8,576 |
|
|
|
8,605 |
|
|
8,597 |
|
|
|
8,048 |
|
|
8,239 |
|
|
|
8,601 |
|
|
7,773 |
|
|
|
34,739 |
|
|
33,185 |
|
Rest of World |
|
|
6,310 |
|
|
7,175 |
|
|
|
5,029 |
|
|
7,212 |
|
|
|
5,901 |
|
|
7,502 |
|
|
|
6,000 |
|
|
7,309 |
|
|
|
23,240 |
|
|
29,198 |
|
Total Crawford Loss Adjusting |
|
|
83,101 |
|
|
94,466 |
|
|
|
84,686 |
|
|
92,362 |
|
|
|
89,557 |
|
|
88,056 |
|
|
|
80,593 |
|
|
79,968 |
|
|
|
337,937 |
|
|
354,852 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford TPA Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US |
|
|
126,673 |
|
|
119,963 |
|
|
|
101,224 |
|
|
119,070 |
|
|
|
130,272 |
|
|
130,718 |
|
|
|
118,069 |
|
|
120,200 |
|
|
|
476,238 |
|
|
489,951 |
|
UK |
|
|
12,736 |
|
|
9,677 |
|
|
|
12,286 |
|
|
10,683 |
|
|
|
10,378 |
|
|
11,325 |
|
|
|
14,150 |
|
|
13,828 |
|
|
|
49,550 |
|
|
45,513 |
|
Canada |
|
|
19,124 |
|
|
21,625 |
|
|
|
16,921 |
|
|
17,521 |
|
|
|
11,213 |
|
|
17,857 |
|
|
|
13,193 |
|
|
16,382 |
|
|
|
60,451 |
|
|
73,385 |
|
Europe |
|
|
47,198 |
|
|
51,456 |
|
|
|
54,924 |
|
|
50,638 |
|
|
|
43,294 |
|
|
53,796 |
|
|
|
40,638 |
|
|
51,292 |
|
|
|
186,054 |
|
|
207,182 |
|
Rest of World |
|
|
1,755 |
|
|
1,374 |
|
|
|
1,690 |
|
|
1,701 |
|
|
|
1,228 |
|
|
2,062 |
|
|
|
2,157 |
|
|
1,523 |
|
|
|
6,830 |
|
|
6,660 |
|
Total Crawford TPA Solutions |
|
|
207,486 |
|
|
204,095 |
|
|
|
187,045 |
|
|
199,613 |
|
|
|
196,385 |
|
|
215,758 |
|
|
|
188,207 |
|
|
203,225 |
|
|
|
779,123 |
|
|
822,691 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Platform Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US |
|
|
78,485 |
|
|
86,085 |
|
|
|
79,318 |
|
|
89,571 |
|
|
|
112,449 |
|
|
87,186 |
|
|
|
95,210 |
|
|
75,403 |
|
|
|
365,462 |
|
|
338,245 |
|
UK |
|
|
2,233 |
|
|
1,231 |
|
|
|
2,047 |
|
|
2,758 |
|
|
|
2,191 |
|
|
2,567 |
|
|
|
3,838 |
|
|
2,815 |
|
|
|
10,309 |
|
|
9,371 |
|
Canada |
|
|
11,578 |
|
|
17,476 |
|
|
|
10,931 |
|
|
13,762 |
|
|
|
13,212 |
|
|
13,743 |
|
|
|
15,162 |
|
|
10,596 |
|
|
|
50,883 |
|
|
55,577 |
|
Europe and Rest of World |
|
|
4,792 |
|
|
3,842 |
|
|
|
4,445 |
|
|
4,391 |
|
|
|
4,096 |
|
|
5,412 |
|
|
|
4,646 |
|
|
5,395 |
|
|
|
17,979 |
|
|
19,040 |
|
Total Crawford Platform Solutions |
|
|
97,088 |
|
|
108,634 |
|
|
|
96,741 |
|
|
110,482 |
|
|
|
131,948 |
|
|
108,908 |
|
|
|
118,856 |
|
|
94,209 |
|
|
|
444,633 |
|
|
422,233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE FULL TIME EQUIVALENT EMPLOYEE DATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crawford Loss Adjusting |
|
|
3,388 |
|
|
3,449 |
|
|
|
3,337 |
|
|
3,412 |
|
|
|
3,275 |
|
|
3,442 |
|
|
|
3,310 |
|
|
3,413 |
|
|
|
3,327 |
|
|
3,429 |
|
Crawford TPA Solutions |
|
|
3,224 |
|
|
3,126 |
|
|
|
3,108 |
|
|
3,135 |
|
|
|
3,030 |
|
|
3,174 |
|
|
|
3,151 |
|
|
3,187 |
|
|
|
3,128 |
|
|
3,156 |
|
Crawford Platform Solutions |
|
|
998 |
|
|
1,105 |
|
|
|
961 |
|
|
1,115 |
|
|
|
1,086 |
|
|
1,141 |
|
|
|
1,298 |
|
|
1,095 |
|
|
|
1,086 |
|
|
1,114 |
|
Administration |
|
|
925 |
|
|
866 |
|
|
|
901 |
|
|
873 |
|
|
|
925 |
|
|
900 |
|
|
|
943 |
|
|
904 |
|
|
|
923 |
|
|
886 |
|
Total Company |
|
|
8,535 |
|
|
8,546 |
|
|
|
8,307 |
|
|
8,535 |
|
|
|
8,316 |
|
|
8,658 |
|
|
|
8,702 |
|
|
8,600 |
|
|
|
8,465 |
|
|
8,585 |
|
Page 5 of 5