Common Stock and Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Earnings (Loss) Per Share, Basic

The computations of basic net income attributable to shareholders of Crawford & Company per common share were as follows:



Year Ended December 31,	2019						2018				2017
	CRD-A			CRD-B			CRD-A		CRD-B		CRD-A		CRD-B
	(In thousands, except earnings per share)
Earnings per share - basic:
Numerator:
Allocation of undistributed earnings	$	(392	)	$	(294	)	$	6,941	$	5,509	$	7,821	$	6,144
Dividends paid	8,592			4,579			8,639		4,889		8,780		4,920
Net income available to common shareholders, basic	8,200			4,285			15,580		10,398		16,601		11,064
Denominator:
Weighted-average common shares outstanding, basic	30,637			22,975			30,805		24,449		31,322		24,606
Earnings per share - basic	$	0.27		$	0.19		$	0.51	$	0.43	$	0.53	$	0.45

Schedule of Earnings (Loss) Per share, Diluted

The computations of diluted net income attributable to shareholders of Crawford & Company per common share were as follows:



Year Ended December 31,	2019						2018				2017
	CRD-A			CRD-B			CRD-A		CRD-B		CRD-A		CRD-B
	(In thousands, except earnings (loss) per share)
Earnings per share - diluted:
Numerator:
Allocation of undistributed earnings	$	(394	)	$	(292	)	$	7,003	$	5,447	$	7,911	$	6,053
Dividends paid	8,592			4,579			8,639		4,889		8,780		4,920
Net income available to common shareholders, diluted	8,198			4,287			15,642		10,336		16,691		10,973
Denominator:
Weighted-average common shares outstanding, basic	30,637			22,975			30,805		24,449		31,322		24,606
Weighted-average effect of dilutive securities ⁽¹⁾	453			—			629		—		836		—
Weighted-average number of shares outstanding, diluted	31,090			22,975			31,434		24,449		32,158		24,606
Earnings per share - diluted	$	0.26		$	0.19		$	0.50	$	0.42	$	0.52	$	0.45

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Listed below are the shares excluded from the denominator in the above computation of diluted earnings per share for CRD-A because their inclusion would have been anti-dilutive:



Year Ended December 31,	2019	2018	2017
	(In thousands)
Shares underlying stock options excluded due to the options' respective exercise prices being greater than the average stock price during the period	622	1,175	711
Performance stock grants excluded because performance conditions had not been met ⁽¹⁾	717	752	402


⁽¹⁾	Compensation cost is recognized for these performance stock grants based on expected achievement rates; however no consideration is given for these performance stock grants when calculating earnings per share until the performance measurements are actually achieved.