Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 252

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7A
Chunk 252
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Our operations expose us to various market risks, primarily from changes in foreign currency exchange rates and interest rates. Our objective is to identify and understand these risks and implement strategies to manage them. When evaluating potential strategies, we consider the fundamentals of each market and the underlying accounting and business implications. To implement our various strategies, we may enter into various hedging or similar transactions. The sensitivity analyses we present below do not consider the effect of possible adverse changes in the general economy, nor do they consider additional actions we may take from time to time in the future to mitigate our exposure to these or other market risks. There can be no assurance of the manner in which we will manage or continue to manage any risks in the future or that any of our efforts will be successful.

Foreign Currency Exchange Rate Risk

Our international operations expose us to foreign currency exchange rate changes that can impact translations of foreign-denominated assets and liabilities into U.S. dollars and future earnings and cash flows from transactions denominated in different currencies. Revenues before reimbursements from our international operations included in each of our segments were 39.4%, 37.8%, and 38.3% of consolidated revenues before reimbursements for 2024, 2023, and 2022, respectively. We do not presently engage in any hedging activities to compensate for the effect of potential currency exchange rate fluctuations on the net assets or operating results of our foreign subsidiaries. The following table illustrates revenue as a percentage of total revenue for the major currencies of the geographic areas in which Crawford does business:

    Year Ended December 31,

    2024
     
    2023

    (in thousands, except percentages)

    USDequivalent

    % of total

    USDequivalent

    % of total

    U.S.
     
    USD
     
    $
    783,024

    60.6
    %
     
    $
    788,364

    62.2
    %

    U.K.
     
    GBP

    168,357

    13.0
    %

    143,353

    11.3
    %

    Canada
     
    CAD

    90,879

    7.0
    %

    96,374

    7.6
    %

    Australia
     
    AUD

    88,988

    6.9
    %

    89,479

    7.1