Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 38

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 38
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 segment, there was a decrease in cases related to the Networks and the Contractor Connection service lines. 

19

Cases received are presented below by segment:

    Year Ended December 31,
     
    2024

    2023

    Variance

    North America Loss Adjusting

    242,824

    277,212

    (12.4
    )%

    International Operations

    499,735

    486,237

    2.8
    %

    Broadspire

    544,960

    542,832

    0.4
    %

    Platform Solutions

    310,422

    336,223

    (7.7
    )%

    Total Crawford Cases Received

    1,597,941

    1,642,504

    (2.7
    )%

Segment operating earnings (a measure of segment operating performance used by our management that is defined and discussed in more detail below) increased in our International Operations and Broadspire operating segments, partially offset by a decrease in our North America Loss Adjusting and Platform Solutions segments.

Although operating earnings is the primary financial performance measure used by our senior management and CODM to evaluate the financial performance of our operating segments and make resource allocation and certain compensation decisions, we believe that a non-GAAP discussion and analysis of segment gross profit is also helpful in understanding the results of our segment operations excluding indirect centralized administrative support costs. Our discussion and analysis of segment gross profit includes the revenues and direct expenses of each segment.

In the North America Loss Adjusting segment, operating earnings decreased from $23.2 million, or 7.6% of revenues before reimbursements in 2023, to $18.2 million, or 5.8% of revenues before reimbursements in 2024, primarily due to lower staff utilization in U.S. Field Operations and Canada, compared to 2023. Excluding indirect expenses, gross profit decreased from $62.2 million, or 20.5% of revenues before reimbursements in 2023, to $56.8 million, or 18.2% of revenues before reimbursements in 2024.

In the International Operations segment, operating earnings increased from $11.2 million, or 2.9% of revenues before reimbursements in 2023, to $21.0 million, or 5.0% of revenues before reimbursements in 2024,