Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 118

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 118
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 51,469

          Automobiles

          701

          197

          Total property and equipment

          94,310

          103,526

          Less accumulated depreciation

          (73,754
          )

          (80,784
          )

          Net property and equipment
           
          $
          20,556

          $
          22,742

        Depreciation on property and equipment, including property under finance leases and amortization of leasehold improvements, was $8,881,000, $10,004,000, and $11,941,000 for the years ended December 31, 2024, 2023, and 2022, respectively.Capitalized SoftwareCapitalized software costs reflect costs related to internally developed or purchased software used by the Company that has expected future economic benefits. Certain internal and external costs incurred during the application development stage are capitalized. Costs incurred during the preliminary project and post implementation stages, including training and maintenance costs, are expensed as incurred. The majority of these capitalized software costs consist of internal payroll costs and external payments for software development, purchases and related services. Additionally, "Capitalized software costs, net" on the Company's Consolidated Balance Sheets includes $5,900,000 and $5,000,000 as of December 31, 2024 and 2023, respectively, related to implementation of hosting arrangement service contracts for certain software applications. Capitalized software costs are typically amortized over periods ranging from three to ten years, depending on the estimated life of each software application. Amortization expense for capitalized software was $19,817,000, $17,948,000, and $16,320,000 for the years ended December 31, 2024, 2023, and 2022, respectively.

66

Self-Insured RisksThe Company self-insures certain risks consisting primarily of professional liability, auto liability, and employee medical, disability, and workers' compensation liability. Insurance coverage is obtained for catastrophic property and casualty exposures, including professional liability on a claims-made basis, and those risks required to be insured by law or contract. Most of these self-insured risks are in the U.S. Provisions for claims under the self-insured programs are made based on the Company's estimates of the aggregate liabilities for claims incurred, including estimated legal fees, losses that have occurred but have not been reported to the Company, and for adverse developments on reported losses. The estimated liabilities are