Company: CRAI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001053706-25-000014
Chunk: 43

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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ENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(Unaudited)

(2)During the fiscal quarter ended March 29, 2025, approximately $0.04 million of amortization was accelerated due to involuntary terminations. During the fiscal year ended December 28, 2024, approximately $5.7 million of amortization was accelerated due to involuntary terminations.

4. Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the fiscal quarter ended March 29, 2025 are summarized as follows (in thousands):Goodwill, at December 28, 2024$165,630 Accumulated goodwill impairment(71,893)Goodwill, net at December 28, 202493,737 Foreign currency translation adjustment402 Goodwill, net at March 29, 2025$94,139 Goodwill, net at March 29, 2025 is comprised of goodwill of $166.0 million and accumulated impairment of $71.9 million. There were no impairment losses related to goodwill during the fiscal quarter ended March 29, 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 quarter ended March 29, 2025 or during the fiscal year ended December 28, 2024. The components of acquired identifiable intangible assets are as follows (in thousands):March 29, 2025December 28, 2024Useful Life(in years)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountCustomer relationships10$15,300 $(8,466)$6,834 $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 $0.3 million for the fiscal quarters ended March 29, 2025 and March 30, 2024, respectively. 

5. Accrued Expenses

Accrued expenses consist of the following (