Exhibit 99.2

Crawford & Company

Reconciliation of Operating Earnings to Net Income

12-month trailing

(in thousands)

	12-month trailing at 2008									12-month trailing at 2007												12-month trailing at 2006
	3Q			2Q			1Q			4Q			3Q			2Q			1Q			4Q			3Q			2Q			1Q
Operating Earnings (1)	$	64,616		$	57,963		$	49,540		$	37,230		$	33,845		$	32,617		$	29,399		$	32,195		$	35,667		$	32,233		$	30,221
Net Corporate Interest Expense	$	(17,560	)	$	(17,798	)	$	(17,374	)	$	(17,326	)	$	(16,494	)	$	(12,761	)	$	(9,123	)	$	(5,753	)	$	(3,360	)	$	(3,855	)	$	(4,616	)
Stock Option Expense	$	(1,007	)	$	(1,024	)	$	(1,091	)	$	(1,191	)	$	(1,256	)	$	(1,244	)	$	(1,249	)	$	(1,220	)	$	(865	)	$	(617	)	$	(266	)
Amortization of Customer-Relationship Intangibles	$	(6,028	)	$	(6,096	)	$	(6,097	)	$	(6,025	)	$	(5,642	)	$	(4,067	)	$	(2,560	)	$	(1,124	)	$	—		$	—		$	—
Income Taxes	$	(12,795	)	$	(9,288	)	$	(7,945	)	$	(5,396	)	$	(4,667	)	$	(9,033	)	$	(7,950	)	$	(9,060	)	$	(12,250	)	$	(9,861	)	$	(8,971	)
Other gains/expenses	$	—		$	—		$	4,844		$	8,824		$	5,728		$	8,797		$	3,953		$	(27	)	$	3,069		$	—		$	—
Net Income	$	27,226		$	23,757		$	21,877		$	16,116		$	11,514		$	14,309		$	12,470		$	15,011		$	22,261		$	17,900		$	16,368

(1) Operating earnings is a non-GAAP financial measure representing earnings before net corporate interest expense, stock option expense, amortization of customer-relationship intangible assets, other gains and expenses, and income taxes.