Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 130

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 130
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2023.The financial results of certain of the Company’s international subsidiaries, including Van Dijk, are included in the Company’s consolidated financial statements on a two-month delayed basis.

73

Fair Value of Assets Acquired and Liabilities Assumed Assets acquired and liabilities assumed as of acquisition date are presented in the following table: 

        R.P. van Dijk B.V.

        April 1, 2022

        Tangible assets

        Unbilled revenues
         
        $
        509

        Other assets

        231

        Total tangible assets

        740

        Intangible assets

        Customer relationships

        3,215

        Non-compete agreements

        347

        Goodwill

        1,423

        Total intangible assets

        4,985

        Total assets acquired

        5,725

        Liabilities assumed

        Current liabilities

        70

        Total liabilities assumed

        70

        Net assets acquired
         
        $
        5,655

        Purchase price (cash)
         
        $
        4,313

        Fair value of contingent consideration

        1,342

        Fair value of total consideration transferred
         
        $
        5,655

       Acquired intangible assets include customer relationships and non-compete agreements. Intangible assets were valued using forms of the income approach which utilizes a forecast of future cash flows generated from the use of each asset. Customer relationships and non-compete agreements from the Van Dijk acquisition were assigned useful lives of 10 years and 4 years, respectively.

74

4.	Goodwill and Intangible AssetsGoodwillThe following table shows the changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023: 

        North America Loss Adjusting

        International Operations

        Broadspire

        Platform Solutions

        Total

        (In thousands)

        Balance at December 31, 2022:

        Goodwill
         
        $
        88,893

        $
        81,779

        $
        113,374

        $
        65,556

        $
        349,602

        Accumulated impairment losses

        (71,626
        )

        (81,779
        )

        (100,437
        )

        (19,138
        )

        (272,980
        )

        Net goodwill