Financials

2020 Financial Highlights

(dollars in millions, except per share amounts) (unaudited)

FOR THE YEARS ENDED DECEMBER 31, 2020 2019
Revenues Before Reimbursements1 $ 982.5 $ 1,005.8
Net Income Attributable to Shareholders of Crawford & Company $ 28.3 $ 12.5
Consolidated Adjusted Operating Earnings1 $ 72.7 $ 77.6
Consolidated Adjusted EBITDA1 $ 105.6 $ 112.0
Operating Cash Flow $ 93.2 $ 75.2
Diluted Earnings per Share – CRD-A $ 0.54 $ 0.26
Diluted Earnings per Share – CRD-B $ 0.52 $ 0.19
Return on Average Shareholders’ Investment 16.3% 7.6%

Percentage of Total Company Revenues Before Reimbursement by Business Segment

26.6%
Crawford Specialty Solutions
36.3%
Crawford Claims Solutions
37.1%
Crawford TPA Solutions: Broadspire

Revenue Before Reimbursements

(dollars in millions)

2016 $1,010.6
2017 $1,029.60
2018 $1,041.1
2019 $1,005.8
2020 $982.5

Consolidated Adjusted Operating Earnings

(dollars in millions)

2016 $80.10
2017 $94.6
2018 $89.5
2019 $77.6
2020 $72.7

Consolidated Adjusted EBITDA

(dollars in millions)

2016 $114.2
2017 $130.9
2018 $127.2
2019 $112.0
2020 $105.6

Cases Received

(in thousands)

2016 1,504.8
2017 1,688.2
2018 1,697.6
2019 1,599.9
2020 $1,561.7

Total Cash Dividends Paid

(dollars in millions)

2016 $13.6
2017 $13.7
2018 $13.5
2019 $13.2
2020 $9.6

Net Debt

(dollars in millions)

2016 $106.4
2017 $171.7
2018 $137.3
2019 $125.2
2020 $68.9

1Measurements of financial performance not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures are not necessarily comparable to other similarly-titled measurements employed by other companies. For additional information about the non-GAAP financial information presented herein, see the Appendix shown on our website here. All periods exclude the impact of the disposed GCG business.