Additional discussion and analysis of our income taxes, net corporate interest expense, stock option expense, amortization of customer-relationship intangible assets, unallocated corporate and shared costs and credits, goodwill impairment, restructuring and special charges follows the discussion and analysis of the results of operations of our four operating segments.
The dollar amount of these expenses increased from $133.9 million in 2014 to $149.7 million in 2015. There was an average of 1,489 FTEs (including 454 catastrophe adjusters) in 2015 compared with an average of 1,403 FTEs (including 317 catastrophe adjusters) in 2014. The increase in expenses and FTEs in 2015 was primarily due to the higher compensation costs required to service the outsourcing project referred to above.
Reimbursements for out-of-pocket expenses incurred in our Broadspire segment which are included in total Company revenues were $4.2 million in 2015, increasing slightly from $3.9 million in 2014 due to the growth in revenues.
Broadspire unit volumes by major underlying case category, as measured by cases received, for 2015 and 2014 were as follows:
YEAR ENDED DECEMBER 31, 2014 COMPARED WITH YEAR ENDED DECEMBER 31, 2013
U.S. Services revenues before reimbursements by major service line were as follows:
U.S. Services direct compensation, fringe benefits, and non-employee labor expense, as a percent of segment revenues before reimbursements, was 62.2% for 2014 and 64.9% for 2013. The decrease was due to improved staff utilization.
Asia-Pacific overall case volumes increased due to increases in high-frequency, low-complexity motor and property cases in China and Malaysia.
On November 5, 2015, Crawford, certain of its subsidiaries, Wells Fargo and the other signatories thereto entered into the Fifth Amendment to the Credit Agreement (the "2015 Amendment"). Pursuant to the 2015 Amendment, among other things, the definition of Consolidated EBITDA was revised to exclude certain restructuring charges, not to exceed $27.0 million in 2015 and $13.0 million in 2016, and $38.0 million in the aggregate. Additionally, the maximum leverage ratio and minimum fixed charge coverage ratio with which the Company must comply were amended as described below. The 2015 Amendment also allows for the disposition of immaterial foreign subsidiaries with a book value not to exceed $15.0 million in the aggregate.
Cash provided by operating activities increased by $55.0 million in 2015, from $6.6 million in 2014 to $61.7 million in 2015. This increase was largely due to improved collections of accounts receivable and lower prepaid expenses in 2015 compared with 2014. Interest payments on our debt were $8.0 million in 2015, and tax payments, net of refunds, were $9.7 million in 2015.
Cash provided by financing activities was $67.9 million in 2015. In 2015, we borrowed $147.5 million in short-term borrowings for working capital needs and to fund the GAB Robins acquisition, and we repaid a total of $62.0 million in short-term borrowings and $2.0 million in long-term debt and capital lease obligations. We used cash to pay quarterly cash dividends totaling $13.5 million and repurchased $1.2 million of our common stock. Also in 2015, we received shares of our Class A common stock that were surrendered by employees to settle $0.5 million of withholding taxes owed on the issuance of restricted and performance shares.
At December 31, 2015, we were not party to any off-balance sheet arrangements, other than operating leases, which could materially impact our operations, financial condition, or cash flows. We have certain material obligations under operating lease agreements to which we are a party. In accordance with GAAP, these operating lease obligations and the related leased assets are not reported on our consolidated balance sheet.
We maintain allowances for doubtful accounts for estimated losses resulting from the inability of our clients to make required payments and for adjustments to invoiced amounts. Losses resulting from the inability of clients to make required payments are accounted for as bad debt expense, while adjustments to invoices are accounted for as reductions to revenues. These allowances are established by using historical write-off information intended to determine future loss expectations and by considering the current credit worthiness of our clients, any known specific collection problems, and our assessment of current industry conditions. Actual experience may differ significantly from historical or expected loss results. Each quarter, we evaluate the adequacy of the assumptions used in determining these allowances and make adjustments as necessary. Changes in estimates are recognized in the period in which they are determined. Historically, our estimates have been materially accurate.
The indefinite-lived intangible assets consisting of the Broadspire and SLS trade names, with carrying values of $29.1 million and $2.0 million, respectively, are also evaluated for potential impairment on an annual basis or when indicators of potential impairment are identified. Based on our 2015 analysis, we do not believe these trade names are exposed to potential impairments. The indefinite-lived intangible asset impairment test involves estimating the fair value using an internally prepared discounted cash flow analysis. The fair values of the trade names are established using the relief-from-royalty method, a form of the income approach. This method recognizes that, by virtue of owning the trade name as opposed to licensing it, a company or reporting unit is relieved from paying a royalty, usually expressed as a percentage of net sales, for the asset's use. The present value of the after-tax costs savings (i.e., royalty relief) at an appropriate discount rate including a tax amortization benefit indicates the value of the trade name. We determined the discount rate based on our performance compared to similar market participants, factored by risk in forecasting using a modified capital asset pricing model.
The following is a summary of finite-lived intangible assets acquired through business acquisitions as of December 31, 2015 and 2014:
The following is a summary of indefinite-lived intangible assets at December 31, 2015 and 2014:
This swap agreement contains a provision providing that if the Company is in default under its Credit Facility, the Company may also be deemed to be in default under the swap agreement. If there were such a default, the Company could be required to contemporaneously settle some or all of the obligation under the swap agreement at values determined at the time of default. At December 31, 2015, no such default existed, and the Company had no assets posted as collateral under the swap agreement.
A summary of option activity as of December 31, 2015, 2014, and 2013, and changes during each year, is presented below:
For all plans, the requisite service period is the period of time over which the employees contribute to the plans through payroll withholdings. For purposes of recognizing compensation expense, estimates are made for the total withholdings expected over the entire withholding period. The market price of a share of stock at the beginning of the withholding period is then used to estimate the total number of shares that will be purchased using the total estimated withholdings. Compensation cost is recognized ratably over the withholding period.
During the year ended December 31, 2014, the Company reduced the fair value of a contingent consideration liability associated with a previous acquisition from $2,000,000 to zero. In addition, the Company impaired and expensed $1,271,000 of intangible assets from the same acquisition. Management concluded that expectations about future results indicated the contingent consideration would not be paid and, accordingly, the value of the intangible assets was impaired. Both amounts were included in the Garden City Group segment operating earnings in 2014. In the Consolidated Statements of Operations, the amounts are included as a component of "Selling, general, and administrative expenses." The fair values of both items were estimated using an internally-prepared probability-weighted discounted cash flow analysis. The fair value analysis relied upon both Level 2 data (publicly observable data such as market interest rates and capital structures of peer companies) and Level 3 data (internal data such as the Company's operating projections). As such, these were Level 3 fair value measurements.