Company: CRAI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001053706-25-000020
Chunk: 26

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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, 2024$165,630 Accumulated goodwill impairment(71,893)Goodwill, net at December 28, 202493,737 Foreign currency translation adjustment1,211 Goodwill, net at June 28, 2025$94,948 Goodwill, net at June 28, 2025 is comprised of goodwill of $166.8 million and accumulated impairment of $71.9 million. There were no impairment losses related to goodwill during the fiscal year-to-date period ended June 28, 2025 or during the fiscal year ended December 28, 2024. Intangible assets that are separable from goodwill and have determinable useful lives are valued separately and amortized using the straight-line method over their expected useful lives. There were no impairment losses related to intangible assets during the fiscal-year-to-date period ended June 28, 2025 or during the fiscal year ended December 28, 2024. The components of acquired identifiable intangible assets are as follows (in thousands):June 28, 2025December 28, 2024Useful Life(in years)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountCustomer relationships10$15,300 $(8,849)$6,451 $15,300 $(8,084)$7,216 

As a result of an asset acquisition in CRA's intellectual property practice, CRA recognized $1.5 million of intangible assets related to customer relationships during the second quarter of fiscal 2024. Amortization expense related to intangible assets was $0.4 million and $0.8 million for the fiscal quarter and fiscal year-to-date period ended June 28, 2025, respectively. Amortization expense related to intangible assets was $0.4 million and $0.7 million for the fiscal quarter and fiscal year-to-date period ended June 29, 2024, respectively. 

5. Accrued Expenses

Accrued expenses consist of the following (in thousands):June 28,2025December 28,2024Compensation and related expenses$110,398 $167,899 Performance awards16,880 159 Direct project accruals2,918 2,236 Other9,555 11,119 Total accrued expenses$139,751 $181,413 As