CRA International (CRAI) 10-Q3 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Oct. 01, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 01, 2022
Document Transition Report	false
Entity File Number	000-24049
Entity Registrant Name	CRA International, Inc.
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-2372210
Entity Address, Address Line One	200 Clarendon Street
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02116-5092
City Area Code	617
Local Phone Number	425-3000
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	CRAI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,134,885
Entity Central Index Key	0001053706
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Income Statement [Abstract]
Revenues	$ 148,441	$ 136,412	$ 445,925	$ 431,167
Costs of services (exclusive of depreciation and amortization)	102,267	95,980	309,403	306,396
Selling, general and administrative expenses	28,246	24,490	82,026	71,740
Depreciation and amortization	3,034	3,141	9,060	9,657
Income from operations	14,894	12,801	45,436	43,374
Interest expense, net	(667)	(183)	(1,343)	(791)
Foreign currency gains (losses), net	1,667	235	3,566	(253)
Income before provision for income taxes	15,894	12,853	47,659	42,330
Provision for income taxes	4,017	1,908	12,713	9,318
Net income	$ 11,877	$ 10,945	$ 34,946	$ 33,012
Net income per share:
Basic (in dollars per share)	$ 1.66	$ 1.48	$ 4.81	$ 4.42
Diluted (in dollars per share)	$ 1.63	$ 1.44	$ 4.72	$ 4.31
Weighted average number of shares outstanding:
Basic (in shares)	7,119	7,375	7,247	7,440
Diluted (in shares)	7,246	7,560	7,376	7,643

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 11,877	$ 10,945	$ 34,946	$ 33,012
Other comprehensive income (loss)
Foreign currency translation adjustments, net of tax	(3,806)	(1,028)	(8,838)	(1,275)
Comprehensive income	$ 8,071	$ 9,917	$ 26,108	$ 31,737

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Oct. 01, 2022	Jan. 01, 2022
Current assets:
Cash and cash equivalents	$ 24,093	$ 66,130
Accounts receivable, net of allowances of $2,903 and $3,256, respectively	133,895	116,962
Unbilled services, net of allowances of $1,171 and $1,364, respectively	74,955	45,095
Prepaid expenses and other current assets	13,993	10,589
Forgivable loans	10,453	10,571
Total current assets	257,389	249,347
Property and equipment, net	46,967	53,612
Goodwill	89,036	88,936
Intangible assets, net	7,468	4,181
Right-of-use assets	98,425	110,475
Deferred income taxes	9,449	9,319
Forgivable loans, net of current portion	43,290	38,020
Other assets	2,255	1,470
Total assets	554,279	555,360
Current liabilities:
Accounts payable	26,387	23,511
Accrued expenses	132,641	156,314
Deferred revenue and other liabilities	7,327	12,821
Current portion of lease liabilities	15,478	14,337
Current portion of deferred compensation	4,204	6,103
Revolving line of credit	45,000	0
Total current liabilities	231,037	213,086
Non-current liabilities:
Deferred compensation and other non-current liabilities	12,783	10,947
Non-current portion of lease liabilities	108,936	124,464
Deferred income taxes	848	1,029
Total non-current liabilities	122,567	136,440
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred stock, no par value; 1,000,000 shares authorized; none issued and outstanding	0	0
Common stock, no par value; 25,000,000 shares authorized; 7,108,853 and 7,362,703 shares issued and outstanding, respectively	1,029	0
Retained earnings	218,434	215,784
Accumulated other comprehensive loss	(18,788)	(9,950)
Total shareholders’ equity	200,675	205,834
Total liabilities and shareholders’ equity	$ 554,279	$ 555,360

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Oct. 01, 2022	Jan. 01, 2022
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 2,903	$ 3,256
Allowance for unbilled services	$ 1,171	$ 1,364
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (shares)	1,000,000	1,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value ( in dollars per share )	$ 0	$ 0
Common stock, shares authorized (shares)	25,000,000	25,000,000
Common stock, shares issued (shares)	7,108,853	7,362,703
Common stock, shares outstanding (shares)	7,108,853	7,362,703

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
OPERATING ACTIVITIES:
Net income	$ 34,946	$ 33,012
Adjustments to reconcile net income to net cash provided by (used in) operating activities, net of effect of acquired business:
Depreciation and amortization	9,060	9,657
Right-of-use asset amortization	10,260	9,711
Deferred income taxes	(157)	(1,357)
Share-based compensation expense	3,567	2,830
Bad debt expense (recovery)	(345)	44
Unrealized foreign currency remeasurement (gains) losses, net	(662)	(220)
Changes in operating assets and liabilities:
Accounts receivable	(17,989)	3,172
Unbilled services	(30,864)	(25,213)
Prepaid expenses and other current assets, and other assets	(1,883)	(2,850)
Forgivable loans	(7,361)	9,304
Incentive cash awards	4,863	5,030
Accounts payable, accrued expenses, and other liabilities	(26,336)	(17,668)
Lease liabilities	(12,114)	(11,549)
Net cash provided by (used in) operating activities	(35,015)	13,903
INVESTING ACTIVITIES:
Purchases of property and equipment	(2,999)	(1,730)
Consideration paid for acquisition, net	(10,185)	0
Net cash used in investing activities	(13,184)	(1,730)
FINANCING ACTIVITIES:
Issuance of common stock, principally stock option exercises	760	5,005
Borrowings under revolving line of credit	124,000	72,000
Repayments under revolving line of credit	(79,000)	(66,000)
Payments for debt issuance costs	(1,008)	0
Tax withholding payments reimbursed by shares	(1,002)	(588)
Cash paid for contingent consideration	0	(2,357)
Cash dividends paid	(6,860)	(5,903)
Repurchase of common stock	(27,630)	(39,977)
Net cash provided by (used in) financing activities	9,260	(37,820)
Effect of foreign exchange rates on cash and cash equivalents	(3,098)	(365)
Net decrease in cash and cash equivalents	(42,037)	(26,012)
Cash and cash equivalents at beginning of period	66,130	45,677
Cash and cash equivalents at end of period	24,093	19,665
Noncash investing and financing activities:
Increase (decrease) in accounts payable and accrued expenses for property and equipment	(201)	(7)
Right-of-use assets obtained in exchange for lease obligations	2,146	1,751
Restricted common stock issued for contingent consideration	0	2,250
Supplemental cash flow information:
Cash paid for taxes	11,407	12,484
Cash paid for interest	1,026	528
Cash paid for amounts included in operating lease liabilities	$ 15,864	$ 15,556

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Jan. 02, 2021	$ 209,019	$ 503	$ 216,999	$ (8,483)
Beginning balance (in shares) at Jan. 02, 2021		7,693,497
Increase (Decrease) in Shareholders' Equity
Net income	10,501		10,501
Foreign currency translation adjustment	(111)			(111)
Issuance of restricted common stock for contingent consideration	2,250	$ 2,250
Issuance of restricted common stock for contingent consideration (in shares)		40,039
Exercise of stock options	1,113	$ 1,113
Exercise of stock options (in shares)		41,008
Share-based compensation expense	842	$ 842
Restricted shares vesting (in shares)		29,494
Redemption of vested employee restricted shares for tax withholding	(588)	$ (588)
Redemption of vested employee restricted shares for tax withholding (in shares)		(9,895)
Shares repurchased	(9,642)	$ (4,120)	(5,522)
Shares repurchased (in shares)		(166,552)
Accrued dividends on unvested shares	5		5
Cash dividends paid (per share)	(2,061)		(2,061)
Ending balance at Apr. 03, 2021	211,328	$ 0	219,922	(8,594)
Ending balance (in shares) at Apr. 03, 2021		7,627,591
Beginning balance at Jan. 02, 2021	209,019	$ 503	216,999	(8,483)
Beginning balance (in shares) at Jan. 02, 2021		7,693,497
Increase (Decrease) in Shareholders' Equity
Net income	33,012
Foreign currency translation adjustment	(1,275)
Issuance of restricted common stock for contingent consideration	2,250
Ending balance at Oct. 02, 2021	204,285	$ 676	213,367	(9,758)
Ending balance (in shares) at Oct. 02, 2021		7,396,296
Beginning balance at Apr. 03, 2021	211,328	$ 0	219,922	(8,594)
Beginning balance (in shares) at Apr. 03, 2021		7,627,591
Increase (Decrease) in Shareholders' Equity
Net income	11,566		11,566
Foreign currency translation adjustment	(136)			(136)
Exercise of stock options	1,387	$ 1,387
Exercise of stock options (in shares)		48,562
Share-based compensation expense	980	$ 980
Restricted shares vesting (in shares)		1,006
Shares repurchased	(25,335)	$ (382)	(24,953)
Shares repurchased (in shares)		(337,837)
Accrued dividends on unvested shares	(50)		(50)
Cash dividends paid (per share)	(1,909)		(1,909)
Ending balance at Jul. 03, 2021	197,831	$ 1,985	204,576	(8,730)
Ending balance (in shares) at Jul. 03, 2021		7,339,322
Increase (Decrease) in Shareholders' Equity
Net income	10,945		10,945
Foreign currency translation adjustment	(1,028)			(1,028)
Exercise of stock options	2,505	$ 2,505
Exercise of stock options (in shares)		98,310
Share-based compensation expense	1,008	$ 1,008
Restricted shares vesting (in shares)		11,676
Shares repurchased	(5,000)	$ (4,822)	(178)
Shares repurchased (in shares)		(53,012)
Accrued dividends on unvested shares	(43)		(43)
Cash dividends paid (per share)	(1,933)		(1,933)
Ending balance at Oct. 02, 2021	204,285	$ 676	213,367	(9,758)
Ending balance (in shares) at Oct. 02, 2021		7,396,296
Beginning balance at Jan. 01, 2022	$ 205,834	$ 0	215,784	(9,950)
Beginning balance (in shares) at Jan. 01, 2022	7,362,703	7,362,703
Increase (Decrease) in Shareholders' Equity
Net income	$ 11,426		11,426
Foreign currency translation adjustment	(1,172)			(1,172)
Exercise of stock options	341	$ 341
Exercise of stock options (in shares)		14,552
Share-based compensation expense	1,037	$ 1,037
Restricted shares vesting (in shares)		29,558
Redemption of vested employee restricted shares for tax withholding	(897)	$ (897)
Redemption of vested employee restricted shares for tax withholding (in shares)		(10,163)
Shares repurchased	(4,956)	$ (481)	(4,475)
Shares repurchased (in shares)		(56,665)
Accrued dividends on unvested shares	(11)		(11)
Cash dividends paid (per share)	(2,377)		(2,377)
Ending balance at Apr. 02, 2022	209,225	$ 0	220,347	(11,122)
Ending balance (in shares) at Apr. 02, 2022		7,339,985
Beginning balance at Jan. 01, 2022	$ 205,834	$ 0	215,784	(9,950)
Beginning balance (in shares) at Jan. 01, 2022	7,362,703	7,362,703
Increase (Decrease) in Shareholders' Equity
Net income	$ 34,946
Foreign currency translation adjustment	(8,838)
Issuance of restricted common stock for contingent consideration	0
Ending balance at Oct. 01, 2022	$ 200,675	$ 1,029	218,434	(18,788)
Ending balance (in shares) at Oct. 01, 2022	7,108,853	7,108,853
Beginning balance at Apr. 02, 2022	$ 209,225	$ 0	220,347	(11,122)
Beginning balance (in shares) at Apr. 02, 2022		7,339,985
Increase (Decrease) in Shareholders' Equity
Net income	11,643		11,643
Foreign currency translation adjustment	(3,860)			(3,860)
Share-based compensation expense	1,041	$ 1,041
Restricted shares vesting (in shares)		3,630
Redemption of vested employee restricted shares for tax withholding	(78)	$ (78)
Redemption of vested employee restricted shares for tax withholding (in shares)		(921)
Shares repurchased	(17,674)	$ (963)	(16,711)
Shares repurchased (in shares)		(211,345)
Accrued dividends on unvested shares	(52)		(52)
Cash dividends paid (per share)	(2,259)		(2,259)
Ending balance at Jul. 02, 2022	197,986	$ 0	212,968	(14,982)
Ending balance (in shares) at Jul. 02, 2022		7,131,349
Increase (Decrease) in Shareholders' Equity
Net income	11,877		11,877
Foreign currency translation adjustment	(3,806)			(3,806)
Exercise of stock options	419	$ 419
Exercise of stock options (in shares)		19,476
Share-based compensation expense	1,489	$ 1,489
Restricted shares vesting (in shares)		9,843
Redemption of vested employee restricted shares for tax withholding	(27)	$ (27)
Redemption of vested employee restricted shares for tax withholding (in shares)		291
Shares repurchased	(5,000)	$ (852)	(4,148)
Shares repurchased (in shares)		(51,524)
Accrued dividends on unvested shares	(39)		(39)
Cash dividends paid (per share)	(2,224)		(2,224)
Ending balance at Oct. 01, 2022	$ 200,675	$ 1,029	$ 218,434	$ (18,788)
Ending balance (in shares) at Oct. 01, 2022	7,108,853	7,108,853

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Oct. 01, 2022	Jul. 02, 2022	Oct. 02, 2021	Jul. 03, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends paid to shareholders (in dollars per share)	$ 0.31	$ 0.31	$ 0.26	$ 0.26

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Oct. 01, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Description of Business CRA International, Inc. (“CRA” or the “Company”) is a worldwide leading consulting services firm that applies advanced analytic techniques and in-depth industry knowledge to complex engagements for a broad range of clients. CRA offers services in two broad areas: litigation, regulatory, and financial consulting and management consulting. CRA operates in one business segment. CRA operates its business under its registered trade name, Charles River Associates. Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of CRA International, Inc. and its wholly-owned subsidiaries (collectively the “Company”), which require consolidation after the elimination of intercompany accounts and transactions. These financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for Quarterly Reports on Form 10-Q. Accordingly, these financial statements do not include all the information and note disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements. In the opinion of management, these financial statements reflect all adjustments of a normal, recurring nature necessary for the fair presentation of CRA’s results of operations, financial position, cash flows, and shareholders’ equity for the interim periods presented in conformity with GAAP. Results of operations for the interim periods presented herein are not necessarily indicative of results of operations for a full year. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the fiscal year ended January 1, 2022 included in CRA’s Annual Report on Form 10-K filed with the SEC on March 3, 2022 (the “2021 Form 10-K”). Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported results of operations, financial position, or cash flows. Estimates The preparation of financial statements in conformity with GAAP requires management to make significant estimates and judgments that affect the reported amounts of assets and liabilities, as well as the related disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of consolidated revenues and expenses during the reporting period. Estimates in these condensed consolidated financial statements include, but are not limited to, allowances for accounts receivable and unbilled services, revenue recognition on fixed-price contracts, variable consideration to be included in the transaction price of revenue contracts, the useful life of long-lived assets, measurement of operating lease right-of-use (“ROU”) assets and liabilities, share-based compensation, valuation of acquired intangible assets, goodwill, accrued and deferred income taxes, valuation allowances on deferred tax assets, accrued incentive compensation, and certain other accrued expenses. These items are monitored and analyzed by CRA for changes in facts and circumstances, and material changes in these estimates could occur in the future. Changes in estimates are recorded in the period in which they become known. CRA bases its estimates on historical experience and various other assumptions that CRA believes to be reasonable under the circumstances. Actual results may differ from those estimates if CRA’s assumptions based on past experience or other assumptions do not turn out to be substantially accurate. Business Combinations CRA accounts for business acquisitions using the acquisition method of accounting, which requires assets acquired and liabilities assumed to be measured and recorded at their estimated fair values as of the acquisition date, with certain exceptions. The purchase price is determined as the fair value of consideration transferred. Goodwill is recognized for the excess of consideration transferred over the net value of assets acquired and liabilities assumed. The operating results of each acquired company is included in CRA's consolidated financial statements beginning on the date of acquisition. Fair value measurements require extensive use of estimates and assumptions, including estimates of future cash flows to be generated by the acquired assets. The useful lives of identifiable intangible assets acquired in a business acquisition are estimated based on the expected period that the Company will receive substantially all projected future benefits from the intangible asset. Transaction expenses directly related to acquisitions are expensed as incurred and are included in selling, general and administrative expenses on the condensed consolidated statements of operations. Recent Accounting Standards Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In October 2021, the FASB issued Accounting Standards Update ("ASU") No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ("ASU 2021-08") . The ASU requires that an acquirer recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers ("ASC 606") at the acquisition date as if the acquirer had originated the contracts rather than adjust them to fair value. CRA elected to early adopt ASU 2021-08 on the first day of fiscal 2022. The adoption of the new standard had no impact on CRA's financial position, results of operations, cash flows, or disclosures on the date of transition.

Business Acquisition

Business Acquisition	9 Months Ended
Business Acquisition	Oct. 01, 2022
Business Combination and Asset Acquisition [Abstract]
Business Acquisition	Business Acquisition On February 28, 2022, CRA acquired substantially all business assets and assumed certain liabilities of Welch Consulting, Ltd. (“Welch Consulting”), a Texas limited partnership. Welch Consulting provided economic, business, and strategic consulting services principally involving labor and employment issues. The acquisition expands CRA’s business opportunities, expertise, and market presence with the addition of 45 colleagues and offices in Bryan, Texas; Los Angeles, California; and Washington, D.C. A non-employee expert of CRA served as an agent and attorney-in-fact on behalf of Welch Consulting. The non-employee expert did not and will not receive compensation or a portion of the purchase price as part of the transaction. The acquisition has been accounted for as a business combination, and the results of operations have been included in the accompanying condensed consolidated financial statements from the date of acquisition. On the date of acquisition, right-of-use assets and lease liabilities were recorded in accordance with ASC Topic 842, Leases . In addition, contract assets and contract liabilities were recorded in accordance with ASC 606, as CRA adopted ASU 2021-08 on the first day of fiscal 2022. All other tangible assets and identifiable intangible assets acquired and liabilities assumed were recorded at their fair value as of the date of acquisition. The current values of assets acquired and liabilities assumed are preliminary and based on the best available information. Certain items, such as the working capital adjustments, intangible assets, and goodwill, may be subject to change as additional information is received. The allocation of the purchase price will be finalized as soon as practicable, but not later than one year from the date of acquisition. The final purchase price allocation may be different from the preliminary estimate reported as CRA receives additional information and completes its analysis of transaction-related activities, the impact of which is not expected to be material to CRA’s results of operations for fiscal 2022. The following table presents the preliminary assets acquired and liabilities assumed as of October 1, 2022 (in thousands): Assets Acquired Current assets: Accounts receivable $ 3,778 Unbilled services 1,507 Prepaid expenses and other current assets 100 Total current assets 5,385 Property and equipment 141 Goodwill 2,409 Intangible assets 4,150 Right-of-use assets 1,210 Other assets 41 Total assets acquired $ 13,336 Liabilities Assumed Current liabilities: Accrued expenses $ 1,280 Deferred revenue and other liabilities 161 Current portion of lease liabilities 549 Total current liabilities 1,990 Non-current portion of lease liabilities 661 Total liabilities assumed $ 2,651 Net assets acquired $ 10,685 For the acquired assets and assumed liabilities, CRA has paid $10.2 million, net, as of October 1, 2022, the amount of which was based on adjusted estimates of certain net working capital items. Additional adjustments to the purchase consideration may be due to or from Welch Consulting. Per the terms of the Asset Purchase Agreement, $0.5 million was withheld from the closing payment and will be paid to Welch Consulting within one year of the date of acquisition, subject to the satisfaction of certain assurances provided by Welch Consulting. In addition, CRA issued $7.9 million of forgivable loans and agreed to provide other deferred compensation to key employees and a non-employee expert, which is treated as post-transaction compensation expense as incurred. The intangible assets acquired are comprised of customer relationships, the fair value of which was determined using a multi-period excess earning method. The customer relationships intangible is being amortized over a ten-year life on a straight-line basis, which approximates the expected pattern of economic benefit from this asset. The Company also recorded $2.4 million of goodwill, all of which is expected to be deductible for tax purposes. Transaction related expenses, which are principally legal and accounting service fees, amounted to $0.2 million for the fiscal year-to-date period ended October 1, 2022 and are included in selling, general and administrative expenses on the condensed consolidated statements of operations.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
Fair Value of Financial Instruments	Oct. 01, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments As of October 1, 2022 and January 1, 2022, CRA did not have any financial instruments measured at fair value on a recurring basis. The contingent consideration liability pertained to estimated future contingent consideration payments related to the acquisition of C1 Consulting, LLC, an independent consulting firm, and its wholly-owned subsidiary C1 Associates. CRA had no contingent consideration obligation during the fiscal year-to-date period ended October 1, 2022. CRA paid the contingent consideration liability in the first quarter of fiscal 2021. The following table summarizes the changes in the contingent consideration liability for the fiscal year ended January 1, 2022 (in thousands): Fiscal Year Ended January 1, Beginning balance $ 14,620 Accretion 380 Payment of contingent consideration (15,000) Ending balance $ —

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Oct. 01, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenues and AllowancesThe contracts CRA enters into and operates under specify whether the projects are billed on a time-and-materials or a fixed-price basis. Time-and-materials contracts are typically used for litigation, regulatory, and financial consulting projects while fixed-price contracts are principally used for management consulting projects. In general, project costs are classified in costs of services and are based on the direct salary of CRA’s employee consultants on the engagement, plus all direct expenses incurred to complete the project, including any amounts billed to CRA by its non-employee experts. Disaggregation of Revenue The following tables disaggregate CRA’s revenue by type of contract and geographic location (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date Type of Contract October 1, October 2, October 1, October 2, Consulting services revenues: Fixed-price $ 24,201 $ 31,741 $ 80,515 $ 101,419 Time-and-materials 124,240 104,671 365,410 329,748 Total $ 148,441 $ 136,412 $ 445,925 $ 431,167 Fiscal Quarter Ended Fiscal Year-to-Date Geographic Breakdown October 1, October 2, October 1, October 2, Consulting services revenues: United States $ 121,496 $ 109,387 $ 358,583 $ 347,444 United Kingdom 20,069 20,177 63,322 63,203 Other 6,876 6,848 24,020 20,520 Total $ 148,441 $ 136,412 $ 445,925 $ 431,167 Reserves for Variable Consideration and Credit Risk Revenues from CRA's consulting services are recorded at the net transaction price, which includes estimates of variable consideration for which reserves are established. Variable consideration reserves are based on specific price concessions and those expected to be extended to CRA customers estimated by CRA's historical realization rates. Reserves for variable consideration are recorded as a component of the allowances for accounts receivable and unbilled services on the condensed consolidated balance sheets. Adjustments to the reserves for variable consideration are included in revenues on the condensed consolidated statements of operations. CRA also maintains allowances for accounts receivable and unbilled services for estimated losses resulting from clients’ failure to make required payments. The following table presents CRA's bad debt expense, net of recoveries of previously written off allowances (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date October 1, October 2, October 1, October 2, Bad debt expense (recovery), net $ (83) $ 55 $ (345) $ 44 Reimbursable Expenses Revenues also include reimbursements for costs incurred by CRA in fulfilling its performance obligations, including travel and other out-of-pocket expenses, fees for outside consultants, and other reimbursable expenses. CRA recovers substantially all of these costs. The following expenses are subject to reimbursement (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date October 1, October 2, October 1, October 2, Reimbursable expenses $ 15,009 $ 15,727 $ 47,654 $ 49,382 Contract Balances from Contracts with Customers CRA defines contract assets as assets for which it has recorded revenue because it determines that it is probable that it will earn a performance-based or contingent fee, but is not yet entitled to receive a fee because certain events, such as completion of the measurement period or client approval, must occur. The contract assets balance was immaterial as of October 1, 2022 and January 1, 2022. When consideration is received, or such consideration is unconditionally due from a customer prior to transferring consulting services to the customer under the terms of a contract, a contract liability is recorded. Contract liabilities are recognized as revenue after performance obligations have been satisfied and all revenue recognition criteria have been met. The following table presents the closing balances of CRA's contract liabilities (in thousands): October 1, January 1, Contract liabilities $ 2,684 $ 8,811 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 Ended Fiscal Year-to-Date October 1, October 2, October 1, October 2, Amounts included in contract liabilities at the beginning of the period $ 1,831 $ 1,603 $ 8,101 $ 5,051 Performance obligations satisfied in previous periods $ 3,495 $ 3,925 $ 2,193 $ 2,805

Forgivable Loans

Forgivable Loans	9 Months Ended
Forgivable Loans	Oct. 01, 2022
Forgivable Loans
Forgivable Loans	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 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. The expense associated with the forgiveness of the principal amount of the loans is recorded as compensation expense 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 Year-to-Date Period Ended Fiscal Year Ended October 1, January 1, Beginning balance $ 48,591 $ 61,613 Advances 25,467 14,528 Repayments (25) (69) Reclassifications from accrued expenses or to other assets (1) (1,411) (2,229) Amortization (18,145) (25,187) Effects of foreign currency translation (734) (65) Ending balance $ 53,743 $ 48,591 Current portion of forgivable loans $ 10,453 $ 10,571 Non-current portion of forgivable loans $ 43,290 $ 38,020 _______________________________

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
Goodwill and Intangible Assets	Oct. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the fiscal year-to-date period ended October 1, 2022 are summarized as follows (in thousands): Goodwill $ 160,829 Accumulated goodwill impairment (71,893) Goodwill, net at January 1, 2022 88,936 Additions due to acquisitions 2,409 Foreign currency translation adjustment (2,309) Goodwill, net at October 1, 2022 $ 89,036 Goodwill at October 1, 2022, is comprised of goodwill of $160.9 million and accumulated impairment of $71.9 million. There were no impairment losses related to goodwill during the fiscal year-to-date period ended October 1, 2022 or during the fiscal year ended January 1, 2022. 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. The components of acquired identifiable intangible assets are as follows (in thousands): October 1, 2022 January 1, 2022 Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Non-competition agreements 5 $ — $ — $ — $ 280 $ (275) $ 5 Customer relationships 10 12,370 (4,902) 7,468 8,220 (4,044) 4,176 Total $ 12,370 $ (4,902) $ 7,468 $ 8,500 $ (4,319) $ 4,181 There were no impairment losses related to intangible assets during the fiscal year-to-date period ended October 1, 2022 or during the fiscal year ended January 1, 2022. As a result of the Welch Consulting acquisition, CRA recognized

Accrued Expenses

Accrued Expenses	9 Months Ended
Accrued Expenses	Oct. 01, 2022
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consist of the following (in thousands): October 1, January 1, Compensation and related expenses $ 114,422 $ 143,199 Performance awards 8,819 4,603 Direct project accruals 2,723 2,833 Other 6,677 5,679 Total accrued expenses $ 132,641 $ 156,314 As of October 1, 2022 and January 1, 2022, approximately $89.1 million and $118.9 million, respectively, of accrued bonuses were included above in “Compensation and related expenses.”

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Oct. 01, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the fiscal quarters ended October 1, 2022 and October 2, 2021, CRA’s effective income tax rate (“ETR”) was 25.3% and 14.8%, respectively. The ETR for the third quarter of fiscal 2022 was higher than the third quarter of fiscal 2021 primarily due to a decrease in the tax benefit related to share-based compensation and foreign-derived intangible income, and higher nondeductible compensation paid to executive officers. For the fiscal year-to-date periods ended October 1, 2022 and October 2, 2021, CRA's ETR was 26.7% and 22.0%, respectively. The ETR for the current fiscal year-to-date period was higher than the prior year-to-date period primarily due to a decrease in the tax benefit related to share-based compensation and foreign-derived intangible income, and higher nondeductible compensation paid to executive officers, partially offset by the impact of the U.K. statutory rate increase in the second quarter of fiscal 2021 that did not recur in the current period.

Net Income Per Share

Net Income Per Share	9 Months Ended
Net Income Per Share	Oct. 01, 2022
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per ShareCRA 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 ended October 1, 2022 and October 2, 2021. 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 ended October 1, 2022 and October 2, 2021. The following table presents the calculation of basic and diluted net income per share (in thousands, except per share data): Fiscal Quarter Ended Fiscal Year-to-Date October 1, October 2, October 1, October 2, Numerator: Net income — basic $ 11,877 $ 10,945 $ 34,946 $ 33,012 Less: net income attributable to participating shares 42 43 130 128 Net income — diluted $ 11,835 $ 10,902 $ 34,816 $ 32,884 Denominator: Weighted average shares outstanding — basic 7,119 7,375 7,247 7,440 Effect of dilutive stock options and restricted stock units 127 185 129 203 Weighted average shares outstanding — diluted 7,246 7,560 7,376 7,643 Net income per share: Basic $ 1.66 $ 1.48 $ 4.81 $ 4.42 Diluted $ 1.63 $ 1.44 $ 4.72 $ 4.31 For the fiscal quarter and fiscal year-to-date period ended October 1, 2022, the anti-dilutive share-based awards that were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding amounted to 997 and 249 shares, respectively. There were no anti-dilutive share-based awards for the fiscal quarter and fiscal year-to-date period ended October 2, 2021.

Credit Agreement

Credit Agreement	9 Months Ended
Credit Agreement	Oct. 01, 2022
Debt Disclosure [Abstract]
Credit Agreement	Credit Agreement CRA was a party to an amended and restated credit agreement (the "Initial Credit Agreement") that provided CRA with a $175.0 million revolving credit facility that included a $15.0 million sublimit for the issuance of letters of credit. The Initial Credit Agreement was scheduled to mature on October 24, 2022; CRA was permitted to repay any borrowings at any time prior to the maturity date. CRA was required to comply with various financial and non-financial covenants under the Initial Credit Agreement. On August 19, 2022, CRA refinanced its revolving credit facility under the Initial Credit Agreement by entering into a Credit Agreement (the "Credit Agreement") with Bank of America, N.A., as swingline lender, a letter of credit issuing bank and administrative agent, and with Citizens Bank, N.A., as a letter of credit issuing bank. The Credit Agreement provides CRA with a $250.0 million revolving credit facility, which may be decreased at CRA's option to $200.0 million during the period from July 16th in a year through January 15th in the next year. Additionally, for the period from January 16th to July 15th of each calendar year, CRA may elect to not increase the revolving credit facility to $250.0 million. The revolving credit facility includes a $25.0 million sublimit for the issuance of letters of credit. Concurrent with CRA's entry into the Credit Agreement, the Company terminated the Initial Credit Agreement and repaid in full all outstanding indebtedness under the Initial Credit Agreement of approximately $50.0 million. Also, letters of credit in the aggregate amount of approximately $4.4 million that had been issued under the Initial Credit Agreement were deemed to be issued and outstanding under the new revolving credit facility. In connection with the Credit Agreement, the Company incurred debt issuance costs from the lenders and third-parties of $1.0 million. CRA may use the proceeds of the revolving credit loans under the Credit Agreement for general corporate purposes and may repay any borrowings under the revolving credit facility at any time, but any borrowings must be repaid no later than August 19, 2027. Borrowings under the revolving credit facility bear interest at a rate per annum equal to one of the following rates, at CRA's election, plus an applicable margin as described below: (i) in the case of borrowings in U.S. dollars by the Company, the Base Rate (as defined in the Credit Agreement), (ii) in the case of borrowings in U.S. dollars, a rate based on Term SOFR (as defined in the Credit Agreement) for the applicable interest period, (iii) in the case of borrowings in Euros, EURIBOR (as defined in the Credit Agreement) for the applicable interest period, (iv) in the case of borrowings in Pounds Sterling, a daily rate based on SONIA (as defined in the Credit Agreement), (v) in the case of borrowings in Canadian Dollars, CDOR (as defined in the Credit Agreement) for the applicable interest period, (vi) in the case of borrowings in Swiss Francs, a daily rate based on SARON (as defined in the Credit Agreement), or (vii) in the case of borrowings in any other Alternate Currency (as defined in the Credit Agreement), the relevant daily or term rate determined as provided in the Credit Agreement. The applicable margin on borrowings based on the Base Rate varies within a range of 0.25% to 1.00% depending on CRA's consolidated net leverage ratio, and the applicable margin on borrowings based on any of the other rates described above varies within a range of 1.25% to 2.00% depending on CRA's consolidated net leverage ratio. CRA is required to pay a fee on the amount available to be drawn under any letter of credit issued under the revolving credit facility at a rate per annum that varies between 1.25% and 2.00% depending on CRA's consolidated net leverage ratio. In addition, CRA is required to pay a fee on the unused portion of the revolving credit facility at a rate per annum that varies between 0.175% and 0.250% depending on CRA's consolidated net leverage ratio. Under the Credit Agreement, CRA must comply with various financial and non-financial covenants. The primary financial covenants consist of a maximum consolidated net leverage ratio and a minimum consolidated interest coverage ratio. The primary non-financial covenants include, but are not limited to, restrictions on CRA's ability to incur future indebtedness, engage in acquisitions or dispositions, pay dividends or repurchase capital stock, and enter into business combinations. Any indebtedness outstanding under the revolving credit facility may become immediately due upon the occurrence of stated events of default, including CRA's failure to pay principal, interest or fees, or upon the breach of any covenant. As of October 1, 2022, CRA was in compliance with the covenants of the Credit Agreement.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Oct. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As described in the previous note, CRA is party to standby letters of credit with its lenders 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.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Oct. 01, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn November 3, 2022, CRA announced that its Board of Directors declared a quarterly cash dividend of $0.36 per common share, payable on December 9, 2022 to shareholders of record as of November 29, 2022.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Oct. 01, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of CRA International, Inc. and its wholly-owned subsidiaries (collectively the “Company”), which require consolidation after the elimination of intercompany accounts and transactions. These financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for Quarterly Reports on Form 10-Q. Accordingly, these financial statements do not include all the information and note disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements. In the opinion of management, these financial statements reflect all adjustments of a normal, recurring nature necessary for the fair presentation of CRA’s results of operations, financial position, cash flows, and shareholders’ equity for the interim periods presented in conformity with GAAP. Results of operations for the interim periods presented herein are not necessarily indicative of results of operations for a full year. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the fiscal year ended January 1, 2022 included in CRA’s Annual Report on Form 10-K filed with the SEC on March 3, 2022 (the “2021 Form 10-K”). Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported results of operations, financial position, or cash flows.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make significant estimates and judgments that affect the reported amounts of assets and liabilities, as well as the related disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of consolidated revenues and expenses during the reporting period. Estimates in these condensed consolidated financial statements include, but are not limited to, allowances for accounts receivable and unbilled services, revenue recognition on fixed-price contracts, variable consideration to be included in the transaction price of revenue contracts, the useful life of long-lived assets, measurement of operating lease right-of-use (“ROU”) assets and liabilities, share-based compensation, valuation of acquired intangible assets, goodwill, accrued and deferred income taxes, valuation allowances on deferred tax assets, accrued incentive compensation, and certain other accrued expenses. These items are monitored and analyzed by CRA for changes in facts and circumstances, and material changes in these estimates could occur in the future. Changes in estimates are recorded in the period in which they become known. CRA bases its estimates on historical experience and various other assumptions that CRA believes to be reasonable under the circumstances. Actual results may differ from those estimates if CRA’s assumptions based on past experience or other assumptions do not turn out to be substantially accurate.
Business Combinations	Business Combinations CRA accounts for business acquisitions using the acquisition method of accounting, which requires assets acquired and liabilities assumed to be measured and recorded at their estimated fair values as of the acquisition date, with certain exceptions. The purchase price is determined as the fair value of consideration transferred. Goodwill is recognized for the excess of consideration transferred over the net value of assets acquired and liabilities assumed. The operating results of each acquired company is included in CRA's consolidated financial statements beginning on the date of acquisition. Fair value measurements require extensive use of estimates and assumptions, including estimates of future cash flows to be generated by the acquired assets. The useful lives of identifiable intangible assets acquired in a business acquisition are
Recent Accounting Standards	Recent Accounting Standards Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In October 2021, the FASB issued Accounting Standards Update ("ASU") No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ("ASU 2021-08") . The ASU requires that an acquirer recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers ("ASC 606") at the acquisition date as if the acquirer had originated the contracts rather than adjust them to fair value. CRA elected to early adopt ASU 2021-08 on the first day of fiscal 2022. The adoption of the new standard had no impact on CRA's financial position, results of operations, cash flows, or disclosures on the date of transition.

Business Acquisition (Tables)

Business Acquisition (Tables)	9 Months Ended
Business Acquisition (Tables)	Oct. 01, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of assets acquired and liabilities assumed	The following table presents the preliminary assets acquired and liabilities assumed as of October 1, 2022 (in thousands): Assets Acquired Current assets: Accounts receivable $ 3,778 Unbilled services 1,507 Prepaid expenses and other current assets 100 Total current assets 5,385 Property and equipment 141 Goodwill 2,409 Intangible assets 4,150 Right-of-use assets 1,210 Other assets 41 Total assets acquired $ 13,336 Liabilities Assumed Current liabilities: Accrued expenses $ 1,280 Deferred revenue and other liabilities 161 Current portion of lease liabilities 549 Total current liabilities 1,990 Non-current portion of lease liabilities 661 Total liabilities assumed $ 2,651 Net assets acquired $ 10,685

Fair value of Financial Instr_2

Fair value of Financial Instruments (Tables)	9 Months Ended
Fair value of Financial Instruments (Tables)	Oct. 01, 2022
Fair Value Disclosures [Abstract]
Summary of the changes in the contingent consideration liabilities	The following table summarizes the changes in the contingent consideration liability for the fiscal year ended January 1, 2022 (in thousands): Fiscal Year Ended January 1, Beginning balance $ 14,620 Accretion 380 Payment of contingent consideration (15,000) Ending balance $ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Oct. 01, 2022
Revenue from Contract with Customer [Abstract]
Schedule of disaggregate CRA's revenue by type of contract and geographic location	The following tables disaggregate CRA’s revenue by type of contract and geographic location (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date Type of Contract October 1, October 2, October 1, October 2, Consulting services revenues: Fixed-price $ 24,201 $ 31,741 $ 80,515 $ 101,419 Time-and-materials 124,240 104,671 365,410 329,748 Total $ 148,441 $ 136,412 $ 445,925 $ 431,167 Fiscal Quarter Ended Fiscal Year-to-Date Geographic Breakdown October 1, October 2, October 1, October 2, Consulting services revenues: United States $ 121,496 $ 109,387 $ 358,583 $ 347,444 United Kingdom 20,069 20,177 63,322 63,203 Other 6,876 6,848 24,020 20,520 Total $ 148,441 $ 136,412 $ 445,925 $ 431,167
Schedule of bad debt expense, net of recoveries	The following table presents CRA's bad debt expense, net of recoveries of previously written off allowances (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date October 1, October 2, October 1, October 2, Bad debt expense (recovery), net $ (83) $ 55 $ (345) $ 44
Schedule of expenses are subject to reimbursement	The following expenses are subject to reimbursement (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date October 1, October 2, October 1, October 2, Reimbursable expenses $ 15,009 $ 15,727 $ 47,654 $ 49,382
Schedule of opening and closing balances and result of changes in contract liability balance (in thousands)	The following table presents the closing balances of CRA's contract liabilities (in thousands): October 1, January 1, Contract liabilities $ 2,684 $ 8,811 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 Ended Fiscal Year-to-Date October 1, October 2, October 1, October 2, Amounts included in contract liabilities at the beginning of the period $ 1,831 $ 1,603 $ 8,101 $ 5,051 Performance obligations satisfied in previous periods $ 3,495 $ 3,925 $ 2,193 $ 2,805

Forgivable Loans (Tables)

Forgivable Loans (Tables)	9 Months Ended
Forgivable Loans (Tables)	Oct. 01, 2022
Forgivable Loans
Schedule of forgivable loan activity	The following table presents forgivable loan activity for the respective periods (in thousands): Fiscal Year-to-Date Period Ended Fiscal Year Ended October 1, January 1, Beginning balance $ 48,591 $ 61,613 Advances 25,467 14,528 Repayments (25) (69) Reclassifications from accrued expenses or to other assets (1) (1,411) (2,229) Amortization (18,145) (25,187) Effects of foreign currency translation (734) (65) Ending balance $ 53,743 $ 48,591 Current portion of forgivable loans $ 10,453 $ 10,571 Non-current portion of forgivable loans $ 43,290 $ 38,020 _______________________________

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
Goodwill and Intangible Assets (Tables)	Oct. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill for the fiscal year-to-date period ended October 1, 2022 are summarized as follows (in thousands): Goodwill $ 160,829 Accumulated goodwill impairment (71,893) Goodwill, net at January 1, 2022 88,936 Additions due to acquisitions 2,409 Foreign currency translation adjustment (2,309) Goodwill, net at October 1, 2022 $ 89,036 Goodwill at October 1, 2022, is comprised of goodwill of $160.9 million and accumulated impairment of $71.9 million. There were no impairment losses related to goodwill during the fiscal year-to-date period ended October 1, 2022 or during the fiscal year ended January 1, 2022.
Schedule of components of acquired identifiable intangible assets	The components of acquired identifiable intangible assets are as follows (in thousands): October 1, 2022 January 1, 2022 Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Non-competition agreements 5 $ — $ — $ — $ 280 $ (275) $ 5 Customer relationships 10 12,370 (4,902) 7,468 8,220 (4,044) 4,176 Total $ 12,370 $ (4,902) $ 7,468 $ 8,500 $ (4,319) $ 4,181

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
Accrued Expenses (Tables)	Oct. 01, 2022
Accrued Liabilities, Current [Abstract]
Schedule of accrued expenses	Accrued expenses consist of the following (in thousands): October 1, January 1, Compensation and related expenses $ 114,422 $ 143,199 Performance awards 8,819 4,603 Direct project accruals 2,723 2,833 Other 6,677 5,679 Total accrued expenses $ 132,641 $ 156,314

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
Net Income Per Share (Tables)	Oct. 01, 2022
Earnings Per Share [Abstract]
Schedule of earnings per share	The following table presents the calculation of basic and diluted net income per share (in thousands, except per share data): Fiscal Quarter Ended Fiscal Year-to-Date October 1, October 2, October 1, October 2, Numerator: Net income — basic $ 11,877 $ 10,945 $ 34,946 $ 33,012 Less: net income attributable to participating shares 42 43 130 128 Net income — diluted $ 11,835 $ 10,902 $ 34,816 $ 32,884 Denominator: Weighted average shares outstanding — basic 7,119 7,375 7,247 7,440 Effect of dilutive stock options and restricted stock units 127 185 129 203 Weighted average shares outstanding — diluted 7,246 7,560 7,376 7,643 Net income per share: Basic $ 1.66 $ 1.48 $ 4.81 $ 4.42 Diluted $ 1.63 $ 1.44 $ 4.72 $ 4.31

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Description of Business and Fiscal Year (Details)	9 Months Ended
	Oct. 01, 2022 segment area
Accounting Policies [Abstract]
Number of broad areas of consulting services \| area	2
Number of business segment \| segment	1

Business Acquisition - Narrativ

Business Acquisition - Narrative (Details) $ in Thousands		9 Months Ended
Business Acquisition - Narrative (Details) $ in Thousands	Feb. 28, 2022 USD ($) colleague	Oct. 01, 2022 USD ($)	Oct. 02, 2021 USD ($)	Jan. 01, 2022 USD ($)
Business Acquisition [Line Items]
Consideration paid for acquisition, net		$ 10,185	$ 0
Goodwill		89,036		$ 88,936
Welch Consulting, Ltd.
Business Acquisition [Line Items]
Business Combination, Number of New Employees \| colleague	45
Consideration paid for acquisition, net	$ 10,200
Contingent consideration liability	500
Forgivable loans issued in transaction	$ 7,900
Acquired intangible assets, useful life	10 years
Goodwill	$ 2,409
Transaction related expenses		$ 200

Business Acquisition - Assets A

Business Acquisition - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Feb. 28, 2022	Jan. 01, 2022
Current assets:
Goodwill	$ 89,036		$ 88,936
Welch Consulting, Ltd.
Current assets:
Accounts receivable		$ 3,778
Unbilled services		1,507
Prepaid expenses and other current assets		100
Total current assets		5,385
Property and equipment		141
Goodwill		2,409
Intangible assets		4,150
Right-of-use assets		1,210
Other assets		41
Total assets acquired		13,336
Current liabilities:
Accrued expenses		1,280
Deferred revenue and other liabilities		161
Current portion of lease liabilities		549
Total current liabilities		1,990
Non-current portion of lease liabilities		661
Total liabilities assumed		2,651
Net assets acquired		$ 10,685

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) $ in Thousands	12 Months Ended
	Jan. 01, 2022 USD ($)
Summary of changes in contingent consideration liability
Beginning balance	$ 14,620
Accretion	380
Payment of contingent consideration	(15,000)
Ending balance	$ 0

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Disaggregation of Revenue
Consulting services revenues	$ 148,441	$ 136,412	$ 445,925	$ 431,167
United States
Disaggregation of Revenue
Consulting services revenues	121,496	109,387	358,583	347,444
United Kingdom
Disaggregation of Revenue
Consulting services revenues	20,069	20,177	63,322	63,203
Other
Disaggregation of Revenue
Consulting services revenues	6,876	6,848	24,020	20,520
Fixed-price
Disaggregation of Revenue
Consulting services revenues	24,201	31,741	80,515	101,419
Time-and-materials
Disaggregation of Revenue
Consulting services revenues	$ 124,240	$ 104,671	$ 365,410	$ 329,748

Revenue Recognition - Reserves

Revenue Recognition - Reserves for Variable Consideration and Credit Risk (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Revenue from Contract with Customer [Abstract]
Bad debt expense (recovery), net	$ (83)	$ 55	$ (345)	$ 44
Reimbursable expenses	$ 15,009	$ 15,727	$ 47,654	$ 49,382

Revenue Recognition - Contract

Revenue Recognition - Contract Balances from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Jan. 01, 2022
Contract liabilities:
Contract liabilities	$ 2,684		$ 2,684		$ 8,811
Revenue recognized from:
Amounts included in contract liabilities at the beginning of the period	1,831	$ 1,603	8,101	$ 5,051
Performance obligations satisfied in previous periods	$ 3,495	$ 3,925	$ 2,193	$ 2,805

Forgivable Loans (Details)

Forgivable Loans (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
Forgivable Loans (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Jan. 01, 2022
Forgivable loan activity
Beginning balance	$ 48,591	$ 61,613
Advances	25,467	14,528
Repayments	(25)	(69)
Reclassifications from accrued expenses or to other assets	(1,411)	(2,229)
Amortization	(18,145)	(25,187)
Effects of foreign currency translation	(734)	(65)
Ending balance	53,743	48,591
Current portion of forgivable loans	10,453	10,571
Non-current portion of forgivable loans	$ 43,290	$ 38,020

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 01, 2022	Oct. 01, 2022	Jan. 01, 2022
Changes in the carrying amount of goodwill
Goodwill	$ 160,900	$ 160,900	$ 160,829
Accumulated goodwill impairment	(71,900)	(71,900)	$ (71,893)
Balance at the beginning of the period, Goodwill, net		88,936
Additions due to acquisitions	2,409
Foreign currency translation adjustment		(2,309)
Balance at the end of the period, Goodwill, net	$ 89,036	$ 89,036

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Acquired and Amortization (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2022	Jan. 01, 2022
Acquired identifiable intangible assets
Gross Carrying Amount	$ 12,370	$ 8,500
Accumulated Amortization	(4,902)	(4,319)
Net Carrying Amount	7,468	4,181
Non-competition agreements
Acquired identifiable intangible assets
Gross Carrying Amount	0	280
Accumulated Amortization	0	(275)
Net Carrying Amount	$ 0	5
Useful Life (in years)	5 years
Customer relationships
Acquired identifiable intangible assets
Gross Carrying Amount	$ 12,370	8,220
Accumulated Amortization	(4,902)	(4,044)
Net Carrying Amount	$ 7,468	$ 4,176
Useful Life (in years)	10 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Jan. 01, 2022
Acquired identifiable intangible assets
Intangible assets impairment losses			$ 0		$ 0
Amortization	$ 300,000	$ 200,000	900,000	$ 700,000
Customer relationships
Acquired identifiable intangible assets
intangible assets acquired			$ 4,200,000

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Jan. 01, 2022
Accrued Liabilities, Current [Abstract]
Compensation and related expenses	$ 114,422	$ 143,199
Performance awards	8,819	4,603
Direct project accruals	2,723	2,833
Other	6,677	5,679
Total accrued expenses	132,641	156,314
Compensation and related expenses
Accrued bonuses	$ 89,100	$ 118,900

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	25.30%	14.80%	26.70%	22%
Deferred tax liability, foreign exchange translation	$ 200		$ 200
Deferred tax liability recognized, undistributed foreign earnings	$ 400		$ 400

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Numerator:
Net income — basic	$ 11,877	$ 10,945	$ 34,946	$ 33,012
Less: net income attributable to participating shares	42	43	130	128
Net income — diluted	$ 11,835	$ 10,902	$ 34,816	$ 32,884
Denominator:
Weighted average shares outstanding — basic (in shares)	7,119,000	7,375,000	7,247,000	7,440,000
Effect of dilutive stock options and restricted stock units (in shares)	127,000	185,000	129,000	203,000
Weighted average shares outstanding — diluted (in shares)	7,246,000	7,560,000	7,376,000	7,643,000
Basic (in dollars per share)	$ 1.66	$ 1.48	$ 4.81	$ 4.42
Diluted (in dollars per share)	$ 1.63	$ 1.44	$ 4.72	$ 4.31
Anti-dilutive share-based awards excluded (in shares)	997,000	0	249,000	0

Credit Agreement (Details)

Credit Agreement (Details) - USD ($)		9 Months Ended
Credit Agreement (Details) - USD ($)	Aug. 19, 2022	Oct. 01, 2022	Oct. 02, 2021	Aug. 18, 2022	Jan. 01, 2022
Senior Loan Agreement
Repayments under revolving line of credit		$ 79,000,000	$ 66,000,000
Borrowings on revolving line of credit outstanding		45,000,000			$ 0
Revolving credit facility \| Initial Credit Agreement
Senior Loan Agreement
Revolving credit facility, maximum capacity				$ 175,000,000
Revolving credit facility \| Credit Agreement
Senior Loan Agreement
Revolving credit facility, maximum capacity	$ 250,000,000
Amount available under revolving credit facility reduced	200,000,000
Borrowings on revolving line of credit outstanding	4,400,000	45,000,000			$ 0
Debt issuance cost	$ 1,000,000
Revolving credit facility \| Credit Agreement \| Base Rate \| Minimum
Senior Loan Agreement
Variable rate, percent	0.25%
Unused commitment fee, percent	1.25%
Revolving credit facility \| Credit Agreement \| Base Rate \| Maximum
Senior Loan Agreement
Variable rate, percent	1%
Unused commitment fee, percent	2%
Revolving credit facility \| Credit Agreement \| Other Currencies \| Minimum
Senior Loan Agreement
Variable rate, percent	1.25%
Revolving credit facility \| Credit Agreement \| Other Currencies \| Maximum
Senior Loan Agreement
Variable rate, percent	2%
Secured by letters of credit \| Initial Credit Agreement
Senior Loan Agreement
Revolving credit facility, maximum capacity				$ 15,000,000
Repayments under revolving line of credit	$ 50,000,000
Secured by letters of credit \| Credit Agreement
Senior Loan Agreement
Revolving credit facility, maximum capacity	$ 25,000,000
Borrowings on revolving line of credit outstanding		$ 4,400,000
Secured by letters of credit \| Credit Agreement \| Base Rate \| Minimum
Senior Loan Agreement
Unused commitment fee, percent	0.175%
Secured by letters of credit \| Credit Agreement \| Base Rate \| Maximum
Senior Loan Agreement
Unused commitment fee, percent	0.25%

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		3 Months Ended
Subsequent Events (Details) - $ / shares	Nov. 03, 2022	Oct. 01, 2022	Jul. 02, 2022	Oct. 02, 2021	Jul. 03, 2021
Subsequent Events
Common share quarterly cash dividend declared (in dollars per share)		$ 0.31	$ 0.31	$ 0.26	$ 0.26
Subsequent Events
Subsequent Events
Common share quarterly cash dividend declared (in dollars per share)	$ 0.36