Company: CRAI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001053706-25-000020
Chunk: 30

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 under the revolving credit facility was reduced by certain letters of credit outstanding, which amounted to $3.5 million.

10. Commitments and Contingencies

As described in Note 9, CRA is party to standby letters of credit with its banks in support of minimum future lease payments under certain operating leases for office space.CRA is subject to legal actions arising in the ordinary course of business. In management’s opinion, based on current knowledge, CRA believes it has adequate legal defenses or insurance coverage, or both, with respect to the eventuality of such actions. CRA does not believe any settlement or judgment relating to any pending legal action would materially affect its financial position or results of operations. However, the outcome of such legal actions is inherently unpredictable and subject to inherent uncertainties.

15

Table of ContentsCRA INTERNATIONAL, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(Unaudited)

11.    Segment Reporting

CRA manages its business globally within one operating segment, professional and consulting services, in accordance with ASC Topic 280, Segment Reporting. The accounting policies of the professional and consulting services segment are the same as those described in Note 1 of our Annual Report on Form 10-K for the fiscal year ended December 28, 2024, filed with the SEC on February 20, 2025. The chief operating decision maker, which is our Chief Executive Officer, assesses performance for the professional and consulting services segment and decides how to allocate resources based on consolidated net income that is also reported in the condensed consolidated statements of operations as net income. The measure of segment assets is reported in the condensed consolidated balance sheets as total assets.The following table represents consolidated net income reported by segment revenue, segment profit or loss, and significant segment expenses (in thousands):Fiscal Quarter EndedFiscal Year-to-DatePeriod EndedJune 28,2025June 29,2024June 28,2025June 29,2024Revenues$186,878 $171,442 $368,729 $343,230 Employee compensation and fringe benefit costs110,860 106,270 223,657 211,417 Forgivable loan amortization7,428 11,985 14,080 17,757 Client reimbursable expenses19,615 16,361 36,121 33,423 Other segment expense (1)31,859 27,212 53,111 52,007