Company: CRAI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001053706-25-000029
Chunk: 53

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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izationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountCustomer relationships10$15,300 $(9,231)$6,069 $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 $1.1 million for the fiscal quarter and fiscal year-to-date period ended September 27, 2025, respectively. Amortization expense related to intangible assets was $0.4 million and $1.1 million for the fiscal quarter and fiscal year-to-date period ended September 28, 2024, respectively. 

5. Accrued Expenses

Accrued expenses consist of the following (in thousands):September 27,2025December 28,2024Compensation and related expenses$152,188 $167,899 Performance awards19,040 159 Direct project accruals3,297 2,236 Other8,150 11,119 Total accrued expenses$182,675 $181,413 As of September 27, 2025 and December 28, 2024, approximately $120.4 million and $144.2 million, respectively, of accrued bonuses were included above in “Compensation and related expenses.”

6. Income Taxes

For the fiscal quarters ended September 27, 2025 and September 28, 2024, CRA’s effective income tax rate (“ETR”) was 29.3% and 28.7%, respectively. The ETR for the third quarter of fiscal 2025 was higher than the third quarter of fiscal 2024 primarily due to a decreased benefit related to share-based compensation, a remeasurement of deferred tax assets related to changes in current-year state apportionment, and an increase to a prior year tax reserve.  The increase was partially offset by the impact of state tax law changes effective for fiscal 2025.

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

For the fiscal year-to-date periods ended September 27, 2025 and September 28, 2024, CRA's ETR was 28