Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 103

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 103
---
 defined benefit pension cost. We are unable to quantify the extent of any such offset.

Inflation Risk

An increase in inflation could affect our business in several ways. Inflation increases expenses for labor and other operating costs, potentially putting pressure on our profitability if such costs cannot be passed through to our customers. Inflation could also lead to increased costs for losses and loss adjustment expenses in each of our operating segments. Prolonged and elevated inflation could adversely affect the financial markets and the economy generally, and may force governments to pursue a restrictive fiscal and monetary policy, which could constrain overall economic activity or inhibit our revenue growth opportunities.

Credit Risk Related to Performing Certain Services for Our Clients

We process payments for claims settlements, primarily on behalf of our self-insured clients. The liability for the settlement cost of claims processed, which is generally pre-funded, remains with the client. Accordingly, we do not incur significant credit risk in the performance of these services.

55

ITEM 8.	FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Table of Contents

    Page

    Consolidated Statements of Operations
    57

    Consolidated Statements of Comprehensive Income (Loss)
    58

    Consolidated Balance Sheets
    59

    Consolidated Statements of Cash Flows
    61

    Consolidated Statements of Shareholders’ Investment
    62

    Notes to Consolidated Financial Statements
    63

    Report of Independent Registered Public Accounting Firm (PCAOB ID: 42)
    104

56

CRAWFORD & COMPANY

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

    Year Ended December 31,
     
    2024

    2023

    2022

    Revenues from Services:

    Revenues before reimbursements
     
    $
    1,292,510

    $
    1,267,131

    $
    1,189,482

    Reimbursements

    48,460

    49,788

    41,744

    Total Revenues

    1,340,970

    1,316,919

    1,231,226

    Costs and Expenses:

    Costs of services provided, before reimbursements

    924,963

    908,059

    883,128

    Reimbursements

    48,460

    49,788