$CRVL
CORVEL CORP

2022 Q1 Form 10-Q Financial Statement

#000095017022000749 Filed on February 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q3
Revenue $171.4M $164.5M $157.7M
YoY Change 17.76% 16.26% 15.96%
Cost Of Revenue $128.3M $129.3M $121.1M
YoY Change 16.86% 16.91% 14.74%
Gross Profit $43.05M $35.19M $36.66M
YoY Change 20.53% 13.9% 20.19%
Gross Profit Margin 25.12% 21.39% 23.24%
Selling, General & Admin $16.79M $17.51M $16.66M
YoY Change 2.39% 3.59% 6.78%
% of Gross Profit 39.0% 49.75% 45.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.015M $6.056M $5.945M
YoY Change 2.12% 2.47% 2.32%
% of Gross Profit 13.97% 17.21% 16.22%
Operating Expenses $16.79M $17.51M $16.66M
YoY Change 2.39% 2.98% 6.78%
Operating Profit $26.26M $17.68M $20.00M
YoY Change 35.93% 27.27% 34.22%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $26.26M $17.68M $20.00M
YoY Change 35.36% 26.7% 33.86%
Income Tax $6.622M $3.824M $3.931M
% Of Pretax Income 25.22% 21.63% 19.65%
Net Earnings $19.64M $13.86M $16.07M
YoY Change 32.6% 21.78% 35.46%
Net Earnings / Revenue 11.46% 8.42% 10.19%
Basic Earnings Per Share $1.11 $0.78 $0.90
Diluted Earnings Per Share $1.09 $0.76 $0.88
COMMON SHARES
Basic Shares Outstanding 17.62M 17.79M 17.84M
Diluted Shares Outstanding 18.21M 18.23M

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $97.50M $115.5M $131.1M
YoY Change -30.2% -10.3% 23.54%
Cash & Equivalents $97.50M $115.5M $131.1M
Short-Term Investments
Other Short-Term Assets $84.90M $83.59M $71.53M
YoY Change 31.63% 24.95% 13.19%
Inventory
Prepaid Expenses $15.12M $13.43M $10.47M
Receivables $82.59M $69.55M $69.44M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $265.0M $268.7M $272.0M
YoY Change -1.47% 3.66% 12.28%
LONG-TERM ASSETS
Property, Plant & Equipment $76.27M $70.88M $70.05M
YoY Change 8.0% -55.45% -56.08%
Goodwill $36.81M $36.81M $36.81M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $481.0K $586.0K $636.0K
YoY Change 39.42% 17.2% -9.14%
Total Long-Term Assets $150.3M $155.0M $152.9M
YoY Change -3.57% -21.98% -23.3%
TOTAL ASSETS
Total Short-Term Assets $265.0M $268.7M $272.0M
Total Long-Term Assets $150.3M $155.0M $152.9M
Total Assets $415.2M $423.7M $424.9M
YoY Change -2.24% -7.47% -3.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.08M $11.82M $12.93M
YoY Change 13.98% -2.02% 14.66%
Accrued Expenses $156.9M $158.2M $149.2M
YoY Change 5.41% 11.93% 9.89%
Deferred Revenue $25.80M $22.82M $22.75M
YoY Change 14.58% 1.32% 11.15%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $171.4M $170.5M $162.6M
YoY Change 5.48% 7.39% 9.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $29.79M $38.24M $38.46M
YoY Change -28.9% -53.53% -53.61%
Total Long-Term Liabilities $29.79M $38.24M $38.46M
YoY Change -28.9% -53.53% -53.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $171.4M $170.5M $162.6M
Total Long-Term Liabilities $29.79M $38.24M $38.46M
Total Liabilities $202.9M $208.8M $201.1M
YoY Change -0.74% -15.81% -15.93%
SHAREHOLDERS EQUITY
Retained Earnings $665.3M $645.7M $631.8M
YoY Change 11.09%
Common Stock $201.6M $199.0M $196.2M
YoY Change 8.43%
Preferred Stock
YoY Change
Treasury Stock (at cost) $654.5M
YoY Change 15.96%
Treasury Stock Shares $37.22M
Shareholders Equity $212.4M $214.9M $223.8M
YoY Change
Total Liabilities & Shareholders Equity $415.2M $423.7M $424.9M
YoY Change -2.24% -7.47% -3.78%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q3
OPERATING ACTIVITIES
Net Income $19.64M $13.86M $16.07M
YoY Change 32.6% 21.78% 35.46%
Depreciation, Depletion And Amortization $6.015M $6.056M $5.945M
YoY Change 2.12% 2.47% 2.32%
Cash From Operating Activities $16.83M $15.20M $20.74M
YoY Change -18.36% -55.65% -13.95%
INVESTING ACTIVITIES
Capital Expenditures -$11.38M -$6.824M -$5.154M
YoY Change 188.78% 7.3% 54.77%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$11.38M -$6.824M -$5.154M
YoY Change 188.78% 7.3% 54.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.48M -23.91M -23.17M
YoY Change 306.98% 363.35% 163.62%
NET CHANGE
Cash From Operating Activities 16.83M 15.20M 20.74M
Cash From Investing Activities -11.38M -6.824M -5.154M
Cash From Financing Activities -23.48M -23.91M -23.17M
Net Change In Cash -18.03M -15.54M -7.587M
YoY Change -265.45% -168.32% -163.33%
FREE CASH FLOW
Cash From Operating Activities $16.83M $15.20M $20.74M
Capital Expenditures -$11.38M -$6.824M -$5.154M
Free Cash Flow $28.20M $22.02M $25.89M
YoY Change 14.89% -45.79% -5.6%

Facts In Submission

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CORVEL CORPORATION
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-24178000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
45606000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
139716000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
83223000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
115538000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
128829000
us-gaap Income Taxes Paid
IncomeTaxesPaid
17879000
us-gaap Income Taxes Paid
IncomeTaxesPaid
9830000
crvl Accounts Receivable Due Period
AccountsReceivableDuePeriod
P30D
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
197.16
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
122750
CY2020Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
87.69
CY2021Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
25917
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
62.78
CY2020Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
62997
CY2020Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
44.83
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
62.30
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
937158
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
64.28
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1029103
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
164508000
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
141506000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
474871000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
407134000
crvl Revenue Recognition Number Of Performance Obligation
RevenueRecognitionNumberOfPerformanceObligation
1
crvl Latest Duration Of Unbilled Revenue Billing
LatestDurationOfUnbilledRevenueBilling
P1Y
CY2021Q4 us-gaap Billed Contract Receivables
BilledContractReceivables
48963000
CY2021Q1 us-gaap Billed Contract Receivables
BilledContractReceivables
50783000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2668000
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3274000
CY2021Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
23250000
CY2021Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
17213000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
69545000
CY2021Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
64722000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
6407
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
81.62
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2234
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
59.31
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
796858
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
80.27
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1033436
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
22514000
crvl Contract With Customer Liability Increase Through Contracts Acquired
ContractWithCustomerLiabilityIncreaseThroughContractsAcquired
29160000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
9217000
crvl Contract With Customer Liability Revenue Recognized From Additions
ContractWithCustomerLiabilityRevenueRecognizedFromAdditions
19637000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
22820000
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
22800000
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
The Company expects to recognize approximately 95% of its remaining performance obligations as revenues within one year and the remaining balance thereafter.
CY2021Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
us-gaap Capitalized Contract Cost Judgment
CapitalizedContractCostJudgment
The Company has an internal sales force compensation program where remuneration is based solely on the revenues recognized in the period and does not represent an incremental cost to the Company which provides a future benefit expected to be longer than one year and would meet the criteria to be capitalized and presented as unbilled receivables on the Company’s consolidated balance sheets.
us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
one year or less
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P5Y
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0127
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0033
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.36
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.34
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y4M24D
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y6M
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
778982
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
72.17
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
975917
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
57.97
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50200
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
54.87
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
110450
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
163.54
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
209575
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
78.52
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
212588
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
53.27
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
187815
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
40.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
38162
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
78.87
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
17427
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
57.37
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
796858
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
80.27
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1033436
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
62.30
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
796858
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P3Y3M29D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
80.27
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
315389
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
53.99
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
778982
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
72.17
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50200
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
197.16
CY2021Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
25917
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
62.78
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
6328
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
81.70
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
79
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
75.32
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
796858
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
80.27
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y3M29D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
101782689
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
670531
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
77.62
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y4M6D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
99764662
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
315389
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
53.99
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y7M2D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
48571633
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
60.55
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
25.20
us-gaap Net Income Loss
NetIncomeLoss
46773000
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17899000
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
426000
CY2020Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
281000
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18211000
CY2021Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1000000
CY2021Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
38000000
CY2021Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
630000000
CY2021Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
37073634
CY2021Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
135734
CY2021Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
25500000
CY2021Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
188.13
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
420082
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
65300000
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
155.42
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17653759
CY2021Q4 crvl Treasury Stock Shares Outstanding
TreasuryStockSharesOutstanding
37073634
CY2022Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
42629
CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
8000000.0
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17785000
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17899000
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18211000
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18180000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17841000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17939000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18221000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18156000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
13858000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
11380000
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17785000
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17899000
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.64
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17785000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
358000
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18180000
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.76
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.63
us-gaap Net Income Loss
NetIncomeLoss
31547000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17841000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17939000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.62
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.76
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17841000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17939000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
380000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
217000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18221000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18156000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.74
crvl Dividend Distribution Ratio Of Preferred Share Purchase Right For Outstanding Share Of Common Stock
DividendDistributionRatioOfPreferredSharePurchaseRightForOutstandingShareOfCommonStock
1
CY2008Q4 crvl Shareholder Right Expiration Date
ShareholderRightExpirationDate
2022-02-10
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
118
crvl Shareholder Plan Description Of Acquired Entity
ShareholderPlanDescriptionOfAcquiredEntity
Shareholder Rights Plan provides that if a person or group acquires 15% or more of the Company’s common stock
crvl Shareholder Plan Percentage Of Acquired Entity
ShareholderPlanPercentageOfAcquiredEntity
0.15
crvl Shareholder Plan Description Of Merged Entity
ShareholderPlanDescriptionOfMergedEntity
Company is thereafter merged into another entity, or if 50% or more of the Company’s consolidated assets or earning power are sold, then the right will entitle its holder to buy common shares of the acquiring entity having a market value equal to two times the then-current exercise price of the right.
crvl Shareholder Plan Percentage Of Merged Entity
ShareholderPlanPercentageOfMergedEntity
0.50
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
11821000
CY2021Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
12353000
CY2021Q4 crvl Income Taxes Payable Current And Uncertain Tax Positions
IncomeTaxesPayableCurrentAndUncertainTaxPositions
525000
CY2021Q1 crvl Income Taxes Payable Current And Uncertain Tax Positions
IncomeTaxesPayableCurrentAndUncertainTaxPositions
1221000
CY2021Q4 crvl Accounts And Taxes Payable
AccountsAndTaxesPayable
12346000
CY2021Q1 crvl Accounts And Taxes Payable
AccountsAndTaxesPayable
13574000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
358000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
38570000
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
43998000
CY2021Q4 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
70163000
CY2021Q1 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
56498000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
7590000
CY2021Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
7016000
CY2021Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
2968000
CY2021Q1 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
3704000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
22820000
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
22514000
CY2021Q4 crvl Accrued Operating Lease Liabilities
AccruedOperatingLeaseLiabilities
13807000
CY2021Q1 crvl Accrued Operating Lease Liabilities
AccruedOperatingLeaseLiabilities
12765000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2273000
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2391000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
158191000
CY2021Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
148886000
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
3580000
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
3629000
CY2021Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24000
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
26000
CY2021Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000
CY2020Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
4000
CY2021Q4 us-gaap Variable Lease Cost
VariableLeaseCost
136000
CY2020Q4 us-gaap Variable Lease Cost
VariableLeaseCost
60000
CY2021Q4 us-gaap Lease Cost
LeaseCost
3743000
CY2020Q4 us-gaap Lease Cost
LeaseCost
3719000
us-gaap Operating Lease Cost
OperatingLeaseCost
10519000
us-gaap Operating Lease Cost
OperatingLeaseCost
11587000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
74000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
51000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
10000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
170000
us-gaap Variable Lease Cost
VariableLeaseCost
403000
us-gaap Variable Lease Cost
VariableLeaseCost
178000
us-gaap Lease Cost
LeaseCost
11006000
us-gaap Lease Cost
LeaseCost
11986000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
43387000
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
45324000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
38244000
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
41898000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
52051000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
54663000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M29D
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y5M1D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2021Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.028
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.039
us-gaap Operating Lease Payments
OperatingLeasePayments
11204000
us-gaap Operating Lease Payments
OperatingLeasePayments
11250000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
60420000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
105164000
crvl Reductions To Right Of Use Assets Resulting From Reductions To Operating Lease Liabilities
ReductionsToRightOfUseAssetsResultingFromReductionsToOperatingLeaseLiabilities
6446000
crvl Reductions To Right Of Use Assets Resulting From Reductions To Operating Lease Liabilities
ReductionsToRightOfUseAssetsResultingFromReductionsToOperatingLeaseLiabilities
1466000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3793000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
14148000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10773000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8771000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6593000
CY2021Q4 crvl Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
12076000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
56154000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4103000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
52051000
crvl Lessee Operating Lease Commitments Not Yet Commenced
LesseeOperatingLeaseCommitmentsNotYetCommenced
5200000

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