Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 198

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 198
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 thousands (except percentages)

    Based on actual exchange rates
     
    Based on exchange ratesfor December 31, 2023

    Year Ended December 31,
     
    2024
     
    2023
     
    Variance
     
    2024
     
    Variance

    Revenues
     
    $418,607
     
    $382,393
     
    9.5%
     
    $418,081
     
    9.3%

    Direct expenses
     
    341,152
     
    322,025
     
    5.9%
     
    339,592
     
    5.5%

    Gross profit
     
    77,455
     
    60,368
     
    28.3%
     
    78,489
     
    30.0%

    Indirect expenses
     
    56,454
     
    49,187
     
    14.8%
     
    56,643
     
    15.2%

    Total International Operations Operating Earnings
     
    $21,001
     
    $11,181
     
    87.8%
     
    $21,846
     
    95.4%

    Gross profit margin
     
    18.5%
     
    15.8%
     
    2.7%
     
    18.8%
     
    3.0%

    Operating margin
     
    5.0%
     
    2.9%
     
    2.1%
     
    5.2%
     
    2.3%

Revenues before Reimbursements

International Operations segment revenues are primarily derived from the global property and casualty insurance company markets in the U.K, Europe, Australia, Asia and Latin America. Revenues before reimbursements by major region, based on actual exchange rates and using a constant exchange rate were as follows:

    In thousands (except percentages)

    Based on actual exchange rates

    Based on exchange ratesfor December 31, 2023

    Year Ended December 31,
     
    2024

    2023

    Variance

    2024

    Variance

    U.K.
     
    $