Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 144

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 144
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909,000, $8,767,000, and $(1,499,000), respectively, are included in "Other (Income) Loss" on the Consolidated Statement of Operations. These amounts represent the non-service pension costs of the U.S., U.K., and Other International Plans. Over the next ten years, the following benefit payments are expected to be required to be made from the Company's U.S. and U.K. defined benefit pension plans:  

        Year Ending December 31,
         
        Expected BenefitPayments

        (In thousands)

        2025
         
        $
        35,188

        2026

        34,690

        2027

        34,412

        2028

        34,586

        2029

        33,951

        2030-2034

        157,645

85

 The Company reviews its employee demographic assumptions annually and updates the assumptions as necessary. The Company updates the mortality assumptions for the U.S. plans to incorporate the current mortality tables issued by the Society of Actuaries, adjusted to reflect the Company's specific experience and future expectations. This resulted in a $1,393,852 decrease in the projected benefit obligation for the U.S. plans for the year ended December 31, 2022. No changes were made to the mortality tables for the years ended December 31, 2023 and 2024. Certain assumptions used in computing the benefit obligations and net periodic benefit cost for the U.S. and U.K. defined benefit pension plans were as follows: 

        U.S. Qualified Plan:
         
        2024

        2023

        Discount rate used to compute benefit obligations

        5.57
        %

        4.94
        %

        Discount rate used to compute periodic benefit cost

        4.94
        %

        5.13
        %

        Expected long-term rates of return on plans' assets

        5.90
        %

        6.20
        %

        U.K. Defined Benefit Plans:
         
        2024

        2023

        Discount rate used to compute benefit obligations

        5.30
        %

        5.78
        %

        Discount rate used to compute periodic benefit cost

        5.78
        %

        4.93
        %

        Expected long-term rates of return on