XML 42 R30.htm IDEA: XBRL DOCUMENT v3.21.2
Segment Information (Tables)
6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Reconciliation of Operating Profit from Segments to Consolidated

Financial information for the three and six months ended June 30, 2021 and 2020 related to the Company's reportable segments, including a reconciliation from segment operating earnings to income before income taxes, the most directly comparable GAAP financial measure, is presented below:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(in thousands)

 

June 30,
2021

 

 

June 30,
2020

 

 

June 30,
2021

 

 

June 30,
2020

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Crawford Loss Adjusting

 

$

115,956

 

 

$

109,062

 

 

$

228,493

 

 

$

216,166

 

Crawford TPA Solutions

 

 

100,374

 

 

 

88,668

 

 

 

198,619

 

 

 

186,665

 

Crawford Platform Solutions

 

 

51,127

 

 

 

36,686

 

 

 

93,526

 

 

 

69,116

 

Total segment revenues before reimbursements

 

 

267,457

 

 

 

234,416

 

 

 

520,638

 

 

 

471,947

 

Reimbursements

 

 

9,088

 

 

 

8,459

 

 

 

18,062

 

 

 

16,974

 

Total revenues

 

$

276,545

 

 

$

242,875

 

 

$

538,700

 

 

$

488,921

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Operating Earnings

 

 

 

 

 

 

 

 

 

 

 

 

Crawford Loss Adjusting

 

$

6,199

 

 

$

10,043

 

 

$

11,061

 

 

$

10,715

 

Crawford TPA Solutions

 

 

4,715

 

 

 

3,122

 

 

 

9,431

 

 

 

9,420

 

Crawford Platform Solutions

 

 

10,368

 

 

 

7,145

 

 

 

14,969

 

 

 

10,284

 

Total segment operating earnings

 

 

21,282

 

 

 

20,310

 

 

 

35,461

 

 

 

30,419

 

 

 

 

 

 

 

 

 

 

 

 

 

Deduct:

 

 

 

 

 

 

 

 

 

 

 

 

Unallocated corporate and shared costs, net

 

 

(1,662

)

 

 

(2,066

)

 

 

(2,815

)

 

 

(5,162

)

Net corporate interest expense

 

 

(1,213

)

 

 

(2,452

)

 

 

(2,795

)

 

 

(4,676

)

Stock option expense

 

 

(264

)

 

 

(286

)

 

 

(404

)

 

 

(576

)

Amortization of customer-relationship intangible assets

 

 

(2,750

)

 

 

(2,732

)

 

 

(5,549

)

 

 

(5,488

)

Goodwill impairment

 

 

 

 

 

 

 

 

 

 

 

(17,674

)

Restructuring costs

 

 

 

 

 

 

 

 

 

 

 

(5,714

)

Loss on disposition of business

 

 

 

 

 

(341

)

 

 

 

 

 

(341

)

Income (loss) before income taxes

 

$

15,393

 

 

$

12,433

 

 

$

23,898

 

 

$

(9,212

)

Schedule of Revenues By Major Service Line

Revenues before reimbursements by major service line in the Crawford TPA Solutions segment, which operates under the Broadspire brand globally, and the Crawford Platform Solutions segment are shown in the following table. The Company considers all Crawford Loss Adjusting revenues to be derived from one service line.

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(in thousands)

 

June 30,
2021

 

 

June 30,
2020

 

 

June 30,
2021

 

 

June 30,
2020

 

Crawford TPA Solutions

 

 

 

 

 

 

 

 

 

 

 

 

Claims Management Services

 

$

62,024

 

 

$

54,093

 

 

$

124,143

 

 

$

110,021

 

Medical Management Services

 

 

38,350

 

 

 

34,575

 

 

 

74,476

 

 

 

76,644

 

Total Revenues before Reimbursements--Crawford TPA Solutions

 

$

100,374

 

 

$

88,668

 

 

$

198,619

 

 

$

186,665

 

Crawford Platform Solutions

 

 

 

 

 

 

 

 

 

 

 

 

Contractor Connection

 

$

24,443

 

 

$

20,748

 

 

$

45,425

 

 

$

39,786

 

Network Business

 

 

26,684

 

 

 

15,938

 

 

 

48,101

 

 

 

29,330

 

Total Revenues before Reimbursements--Crawford Platform Solutions

 

$

51,127

 

 

$

36,686

 

 

$

93,526

 

 

$

69,116