Company: CRAI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001053706-25-000029
Chunk: 54

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 54
---
.3% and 29.1%, respectively. The ETR for the current fiscal year-to-date period was lower than the prior year-to-date period primarily due to the impact of state tax law changes effective for fiscal 2025, partially offset by the  remeasurement of deferred tax assets related to changes in current-year state apportionment.

On July 4, 2025, tax legislation known as the One Big Beautiful Bill Act ("OBBBA") was enacted in the United States. CRA has evaluated the impact of the U.S. tax law changes introduced by the OBBBA on our current year’s consolidated financial statements and have found it to not be material.

7. Net Income Per Share

CRA calculates basic earnings per share using the two-class method. CRA calculates diluted earnings per share using the more dilutive of either the two-class method or treasury stock method. The two-class method was more dilutive for the fiscal quarters and fiscal year-to-date periods ended September 27, 2025 and September 28, 2024.Under the two-class method, net earnings are allocated to each class of common stock and participating security as if all the net earnings for the period had been distributed. CRA's participating securities consist of unvested share-based payment awards that contain a nonforfeitable right to receive dividends and therefore are considered to participate in undistributed earnings with common shareholders. Net earnings allocable to these participating securities were not material for the fiscal quarters and fiscal year-to-date periods ended September 27, 2025 and September 28, 2024.The following table presents the calculation of basic and diluted net income per share (in thousands, except per share data):Fiscal Quarter EndedFiscal Year-to-DatePeriod EndedSeptember 27,2025September 28,2024September 27,2025September 28,2024Numerator:Net income — basic$11,473 $11,437 $41,597 $31,666 Less: net income attributable to participating shares20 25 80 94 Net income — diluted$11,453 $11,412 $41,517 $31,572 Denominator:Weighted average shares outstanding — basic6,556 6,760 6,675 $6,840 Effect of dilutive stock options and restricted stock units65 83 70 82 Weighted average shares outstanding — diluted6,621 6,843 6,745