Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 108

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 108
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    TOTAL LIABILITIES AND SHAREHOLDERS' INVESTMENT
     
    $
    803,755

    $
    799,199

The accompanying notes are an integral part of these consolidated financial statements.

60

CRAWFORD & COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

    Year Ended December 31,
     
    2024

    2023

    2022

    Cash Flows from Operating Activities:

    Net income (loss)
     
    $
    26,529

    $
    30,260

    $
    (18,532
    )

    Reconciliation of net income (loss) to net cash provided by operating activities:

    Depreciation and amortization

    36,195

    35,742

    36,098

    Goodwill impairment

    —

    —

    36,808

    Deferred income taxes

    (2,534
    )

    (12,279
    )

    7,397

    Stock-based compensation costs

    5,768

    5,603

    4,923

    Loss (gain) on disposal of property and equipment

    102

    646

    (1,490
    )

    Contingent earnout adjustments

    (1,099
    )

    4,025

    2,921

    Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:

    Accounts receivable, net

    (10,741
    )

    11,663

    (15,537
    )

    Unbilled revenues, net

    (13,691
    )

    11,879

    (19,319
    )

    Accrued or prepaid income taxes

    (2,140
    )

    13,063

    (7,444
    )

    Accounts payable and accrued liabilities

    6,916

    (2,822
    )

    (5,985
    )

    Deferred revenues

    (1,443
    )

    5,913

    (397
    )

    Accrued retirement costs

    8,312

    7,174

    (1,366
    )

    Prepaid expenses and other operating activities

    (555
    )

    (7,077
    )