Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 138

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 138
---
        $
        19,762

        $
        21,080

        Amounts recognized in the Consolidated Balance Sheets consist of:

        Long-term deferred income tax assets included in "Deferred income tax assets"

        25,305

        26,247

        Long-term deferred income tax liabilities included in "Other noncurrent liabilities"

        (5,543
        )

        (5,167
        )

        Net deferred income tax assets
         
        $
        19,762

        $
        21,080

      At December 31, 2024, the Company had deferred tax assets related to loss carryforwards of $33,315,000, with no netting of unrecognized tax benefits applied. An estimated $28,948,000 of the deferred tax assets will not expire, and $4,367,000 will expire over the next 20 years if not utilized by the Company.Changes in the Company's deferred tax valuation allowance are recorded as adjustments to the provision for income taxes. An analysis of the Company's deferred tax asset valuation allowances is as follows for the years ended December 31, 2024, 2023, and 2022. 

        2024

        2023

        2022

        (In thousands)

        Balance, beginning of year
         
        $
        29,644

        $
        23,295

        $
        14,114

        Other changes

        5,666

        6,349

        9,181

        Balance, end of year
         
        $
        35,310

        $
        29,644

        $
        23,295

      Changes to the valuation allowance for the year ended December 31, 2024 were primarily due to foreign jurisdictions deferred tax attributes and losses in certain of the Company's international operations, as well as a change in realization for various U.S. state loss carryforwards. Changes to the valuation allowance for the year ended December 31, 2023 were primarily due to establishments for various foreign jurisdictions deferred tax attributes and losses in certain of the Company’s international operations. Changes to the valuation allowance for the year ended December 31, 2022 were primarily due to establishments for U.K. deferred tax attributes and losses in certain of the Company's international operations, net of anticipated expiration of certain foreign tax credits after consideration of the four sources of taxable income. 

81

A