Company: CRAI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001053706-25-000014
Chunk: 42

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 42
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 liabilities$4,228 $7,340 $6,037 CRA recognized the following revenue that was included in the contract liabilities balance as of the opening of the respective period or for performance obligations satisfied in previous periods (in thousands):Fiscal Quarter EndedMarch 29,2025March 30,2024Amounts included in contract liabilities at the beginning of the period$6,290 $4,703 Performance obligations satisfied in previous periods$2,325 $2,847 

3. Forgivable Loans

In order to attract and retain highly skilled professionals, CRA may issue forgivable loans to employees and non-employee experts, certain of which may be denominated in local currencies. A portion of these loans is collateralized. The forgivable loans have terms that are generally between two and six years with interest rates currently between 0.59% and 5.12%. The principal amount of forgivable loans and accrued interest is forgiven by CRA over the term of the loans, so long as the employee or non-employee expert continues employment or affiliation with CRA and complies with certain contractual requirements. During the fiscal quarter ended March 29, 2025 and fiscal year 2024 there were no balances due under these loans for which the full principal and interest were not forgiven or not collected upon termination of employment or affiliation with CRA. The forgiveness of the principal amount of the loans is recorded as compensation over the service period, which is consistent with the term of the loans. The following table presents forgivable loan activity for the respective periods (in thousands):Fiscal Quarter EndedFiscal Year EndedMarch 29,2025December 28,2024Beginning balance$55,492 $53,941 Advances27,431 45,494 Repayments(600)(2,761)Reclassifications from accrued expenses or to other assets (1)— (9,989)Amortization (2)(6,652)(31,055)Effects of foreign currency translation195 (138)Ending balance$75,866 $55,492 Current portion of forgivable loans$11,527 $6,535 Non-current portion of forgivable loans$64,339 $48,957 _______________________________(1)Relates to the reclassification of performance awards previously recorded as accrued expenses or forgivable loans that have been reclassified to other receivables. 

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Table of ContentsCRA INTERNATIONAL, INC.NOTES TO COND