Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 139

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 139
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 reconciliation of the beginning and ending balance of unrecognized income tax benefits follows:  

        (In thousands)

        Balance at December 31, 2021
         
        $
        3,750

        Reductions for tax positions related to prior years

        (97
        )

        Balance at December 31, 2022
         
        $
        3,653

           Additions for tax positions related to prior years

        432

        Reductions for tax positions related to prior years

        (153
        )

        Lapses of applicable statutes of limitation

        (344
        )

        Balance at December 31, 2023
         
        $
        3,588

        Currency Translation Adjustment

        2

        Lapses of applicable statutes of limitation

        (3,156
        )

        Balance at December 31, 2024
         
        $
        434

      The Company accrues interest and, if applicable, penalties related to unrecognized tax benefits in income taxes. Total accrued interest expense at December 31, 2024, 2023, and 2022, was $1,000, $13,000, and $160,000, respectively.Included in the total unrecognized tax benefits at December 31, 2024, 2023, and 2022 were $434,000, $685,000, and $685,000, respectively, of tax benefits that, if recognized, would affect the effective income tax rate.The Company conducts business in a number of countries and, as a result, files U.S. federal and various state and foreign jurisdiction income tax returns. In the normal course of business, the Company is subject to examination by various taxing jurisdictions throughout the world, including Canada, the U.K., and the U.S. With few exceptions, the Company is no longer subject to income tax examinations for years before 2014.Although the outcome of tax audits is always uncertain, the Company believes that adequate amounts of tax, including interest and penalties, have been provided for any adjustments that are expected to result from those years.The Company expects $164,000 of reductions to unrecognized income tax benefits within the next 12 months as a result of projected resolutions of income tax uncertainties.

8.	Retirement PlansThe Company and its subsidiaries sponsor various retirement plans. Substantially all employees in the U.S. and certain employees outside the U.S. are covered under the Company's defined contribution plans.