Exponent (EXPO) 10-Q4 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	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	EXPONENT, INC.
Entity Central Index Key	0000851520
Current Fiscal Year End Date	--12-30
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Trading Symbol	EXPO
Entity Common Stock, Shares Outstanding		50,638,229
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity File Number	0-18655
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0218904
Entity Address, Address Line One	149 COMMONWEALTH DRIVE
Entity Address, City or Town	MENLO PARK
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	650
Local Phone Number	326-9400
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Title of each class	Common Stock, par value $0.001 per share
Name of each exchange on which registered	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 148,443	$ 297,687
Accounts receivable, net of allowance for contract losses and doubtful accounts of $6,157 and $4,423 at September 30, 2022 and December 31, 2021, respectively	166,014	139,861
Prepaid expenses and other current assets	18,055	15,214
Total current assets	332,512	452,762
Property, equipment and leasehold improvements, net	64,289	59,971
Operating lease right-of-use assets	18,088	14,370
Goodwill	8,607	8,607
Deferred income taxes	50,501	46,546
Deferred compensation plan assets	83,722	99,962
Other assets	1,284	1,521
Total assets	559,003	683,739
Current liabilities:
Accounts payable and accrued liabilities	31,825	24,504
Accrued payroll and employee benefits	84,938	103,552
Deferred revenues	15,791	19,762
Operating lease liabilities	5,363	5,164
Total current liabilities	137,917	152,982
Other liabilities	2,639	2,886
Deferred compensation plan liabilities	85,453	100,999
Operating lease liabilities	13,194	9,807
Total liabilities	239,203	266,674
Stockholders’ equity:
Common stock, $0.001 par value; 120,000 shares authorized; 65,707 shares issued at September 30, 2022 and December 31, 2021	66	66
Additional paid-in capital	298,589	281,419
Accumulated other comprehensive loss
Foreign currency translation adjustments	(5,136)	(1,983)
Retained earnings	518,631	478,370
Treasury stock, at cost; 14,918 and 13,591 shares held at September 30, 2022 and December 31, 2021, respectively	(492,350)	(340,807)
Total stockholders’ equity	319,800	417,065
Total liabilities and stockholders’ equity	$ 559,003	$ 683,739

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for contract losses and doubtful accounts	$ 6,157	$ 4,423
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	65,707,000	65,707,000
Treasury stock, shares	14,918,000	13,591,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Revenues:
Revenues before reimbursements	$ 115,143	$ 108,467	$ 351,231	$ 330,514
Reimbursements	12,036	7,938	34,707	22,249
Revenues	127,179	116,405	385,938	352,763
Operating expenses:
Compensation and related expenses	62,779	64,138	189,982	210,491
Other operating expenses	8,822	8,017	25,742	23,848
Reimbursable expenses	12,036	7,938	34,707	22,249
General and administrative expenses	6,729	4,193	16,700	10,626
Total operating expenses	90,366	84,286	267,131	267,214
Operating income	36,813	32,119	118,807	85,549
Other income, net:
Interest income, net	638	13	834	54
Miscellaneous income (expense), net	(3,975)	257	(17,926)	11,579
Total other income, net	(3,337)	270	(17,092)	11,633
Income before income taxes	33,476	32,389	101,715	97,182
Income taxes	9,034	7,815	21,909	16,360
Net income	$ 24,442	$ 24,574	$ 79,806	$ 80,822
Net income per share:
Basic (in dollars per share)	$ 0.47	$ 0.47	$ 1.54	$ 1.54
Diluted (in dollars per share)	$ 0.47	$ 0.46	$ 1.52	$ 1.52
Shares used in per share computations:
Basic (in shares)	51,492	52,618	51,934	52,597
Diluted (in shares)	52,008	53,312	52,489	53,316
Cash dividends declared per common share (in dollars per share)	$ 0.24	$ 0.20	$ 0.72	$ 0.60

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 24,442	$ 24,574	$ 79,806	$ 80,822
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	(1,493)	(266)	(3,153)	(55)
Unrealized losses on available-for-sale investment securities arising during the period, net of tax			0	(65)
Comprehensive income	$ 22,949	$ 24,308	$ 76,653	$ 80,702

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Balance at Jan. 01, 2021	$ 361,498	$ 66	$ 265,328	$ (1,932)	$ 421,809	$ (323,773)
Balances (in shares) at Jan. 01, 2021		65,707				13,903
Employee stock purchase plan	1,023		909			$ 114
Employee stock purchase plan (in shares)						(12)
Amortization of unrecognized stock-based compensation	5,676		5,676
Purchase of treasury stock	(7,000)					$ (7,000)
Purchase of treasury stock (in shares)						79
Foreign currency translation adjustments	211			211
Grant of restricted stock units to settle accrued bonus	7,637		7,637
Settlement of restricted stock units	(15,666)		(3,269)		(1,679)	$ (10,718)
Settlement of restricted stock units (in shares)						(322)
Unrealized gain on investments	(4)			(65)	61
Dividends and dividend equivalent rights	(21,856)				(21,856)
Net income	56,248				56,248
Balance at Jul. 02, 2021	387,767	$ 66	276,281	(1,786)	454,583	$ (341,377)
Balances (in shares) at Jul. 02, 2021		65,707				13,648
Balance at Jan. 01, 2021	361,498	$ 66	265,328	(1,932)	421,809	$ (323,773)
Balances (in shares) at Jan. 01, 2021		65,707				13,903
Net income	80,822
Balance at Oct. 01, 2021	404,989	$ 66	279,250	(2,052)	468,578	$ (340,853)
Balances (in shares) at Oct. 01, 2021		65,707				13,595
Balance at Jul. 02, 2021	387,767	$ 66	276,281	(1,786)	454,583	$ (341,377)
Balances (in shares) at Jul. 02, 2021		65,707				13,648
Employee stock purchase plan	518		471			$ 47
Employee stock purchase plan (in shares)						(5)
Exercise of stock options	1,135		658			$ 477
Exercise of stock options (in shares)						(48)
Amortization of unrecognized stock-based compensation	1,840		1,840
Foreign currency translation adjustments	(266)			(266)
Dividends and dividend equivalent rights	(10,579)				(10,579)
Net income	24,574				24,574
Balance at Oct. 01, 2021	404,989	$ 66	279,250	(2,052)	468,578	$ (340,853)
Balances (in shares) at Oct. 01, 2021		65,707				13,595
Balance at Dec. 31, 2021	417,065	$ 66	281,419	(1,983)	478,370	$ (340,807)
Balances (in shares) at Dec. 31, 2021		65,707				13,591
Employee stock purchase plan	1,070		961			$ 109
Employee stock purchase plan (in shares)						(12)
Amortization of unrecognized stock-based compensation	5,939		5,939
Purchase of treasury stock	(111,843)					$ (111,843)
Purchase of treasury stock (in shares)						1,273
Foreign currency translation adjustments	(1,660)			(1,660)
Grant of restricted stock units to settle accrued bonus	10,200		10,200
Settlement of restricted stock units	(12,904)		(2,421)		(1,392)	$ (9,091)
Settlement of restricted stock units (in shares)						(262)
Dividends and dividend equivalent rights	(25,737)				(25,737)
Net income	55,364				55,364
Balance at Jul. 01, 2022	337,494	$ 66	296,098	(3,643)	506,605	$ (461,632)
Balances (in shares) at Jul. 01, 2022		65,707				14,590
Balance at Dec. 31, 2021	417,065	$ 66	281,419	(1,983)	478,370	$ (340,807)
Balances (in shares) at Dec. 31, 2021		65,707				13,591
Net income	79,806
Balance at Sep. 30, 2022	319,800	$ 66	298,589	(5,136)	518,631	$ (492,350)
Balances (in shares) at Sep. 30, 2022		65,707				14,918
Balance at Jul. 01, 2022	337,494	$ 66	296,098	(3,643)	506,605	$ (461,632)
Balances (in shares) at Jul. 01, 2022		65,707				14,590
Employee stock purchase plan	557		492			$ 65
Employee stock purchase plan (in shares)						(7)
Amortization of unrecognized stock-based compensation	1,999		1,999
Purchase of treasury stock	(30,783)					$ (30,783)
Purchase of treasury stock (in shares)						335
Foreign currency translation adjustments	(1,493)			(1,493)
Dividends and dividend equivalent rights	(12,416)				(12,416)
Net income	24,442				24,442
Balance at Sep. 30, 2022	$ 319,800	$ 66	$ 298,589	$ (5,136)	$ 518,631	$ (492,350)
Balances (in shares) at Sep. 30, 2022		65,707				14,918

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021
Cash flows from operating activities:
Net income	$ 79,806	$ 80,822
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, equipment and leasehold improvements	5,224	4,943
Amortization of premiums and accretion of discounts on short-term investments		(11)
Provision for contract losses and doubtful accounts	2,112	1,197
Stock-based compensation	16,072	15,239
Deferred income tax provision	(3,955)	(2,020)
Changes in operating assets and liabilities:
Accounts receivable	(28,265)	(33,671)
Prepaid expenses and other current assets	(7,583)	(4,878)
Change in operating leases	(132)	(472)
Accounts payable and accrued liabilities	5,140	5,784
Accrued payroll and employee benefits	(11,211)	3,053
Deferred revenues	(3,971)	392
Net cash provided by operating activities	53,237	70,378
Cash flows from investing activities:
Capital expenditures	(9,108)	(5,437)
Purchase of short-term investments		(34,994)
Maturity of short-term investments		55,000
Net cash provided by (used in) investing activities	(9,108)	14,569
Cash flows from financing activities:
Payroll taxes for restricted stock units	(12,904)	(15,666)
Repurchase of common stock	(142,195)	(7,000)
Exercise of stock-based payment awards	1,627	2,675
Dividends and dividend equivalents rights	(37,084)	(32,775)
Net cash used in financing activities	(190,556)	(52,766)
Effect of foreign currency exchange rates on cash and cash equivalents	(2,817)	79
Net decrease in cash and cash equivalents	(149,244)	32,260
Cash and cash equivalents at beginning of period	297,687	197,525
Cash and cash equivalents at end of period	$ 148,443	$ 229,785

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1: Basis of Presentation Exponent, Inc. (referred to as the “Company” or “Exponent”) is an engineering and scientific consulting firm that provides solutions to complex problems. The Company operates on a 52-53 week fiscal year ending on the Friday closest to the last day of December. The accompanying unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission. Accordingly, they do not contain all the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments which are necessary for the fair presentation of the condensed consolidated financial statements have been included and all such adjustments are of a normal and recurring nature. The operating results for the three and nine months ended September 30, 2022 are not necessarily representative of the results of future quarterly or annual periods. The following information should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the U.S. Securities and Exchange Commission on February 25, 2022. The unaudited condensed consolidated financial statements include the accounts of Exponent, Inc. and its subsidiaries, which are all wholly owned. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Items subject to such estimates and assumptions include accounting for revenue recognition and estimating the allowance for contract losses and doubtful accounts. Actual results could differ from those estimates.

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 30, 2022
Revenue Recognition [Abstract]
Revenue Recognition	Note 2: Revenue Recognition Substantially all of the Company’s engagements are performed under time and materials or fixed-price arrangements. For time and materials contracts, the Company utilizes the practical expedient under Accounting Standards Codification 606 – Revenue from Contracts with Customers , which states that if an entity has a right to consideration from a customer in an amount that corresponds directly with the value of the entity’s performance completed to date (for example, a service contract in which an entity bills a fixed amount for each hour of service provided) then the entity may recognize revenue in the amount to which the entity has a right to invoice. The following table discloses the percentage of the Company’s revenue generated from time and materials contracts: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, Engineering & Other Scientific 64 % 62 % 63 % 62 % Environmental and Health 14 % 16 % 16 % 17 % Total time and materials revenues 78 % 78 % 79 % 79 % For fixed-price contracts, the Company recognizes revenue over time because of the continuous transfer of control to the customer. The customer typically controls the work in process as evidenced either by contractual termination clauses or by the Company’s rights to payment for work performed to date to deliver services that do not have an alternative use to the Company. Revenue for fixed-price contracts is recognized based on the relationship of incurred labor hours at standard rates to the Company’s estimate of the total labor hours at standard rates it expects to incur over the term of the contract. The Company believes this methodology achieves a reliable measure of the revenue from the consulting services it provides to its customers under fixed-price contracts given the nature of the consulting services the Company provides. The following table discloses the percentage of the Company’s revenue generated from fixed price contracts: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, Engineering & Other Scientific 21 % 21 % 20 % 20 % Environmental and Health 1 % 1 % 1 % 1 % Total fixed price revenues 22 % 22 % 21 % 21 % Deferred revenues represent amounts billed to clients in advance of services provided. During the third quarter of 2022, $ 6,343,000 of revenues were recognized that were included in the deferred revenue balance at July 1, 2022. During the first nine months of 2022, $ 14,215,000 of revenues were recognized that were included in the deferred revenue balance at December 31, 2021. Reimbursements, including those related to travel and other out-of-pocket expenses, and other similar third- party costs such as the cost of materials and certain subcontracts, are included in revenues, and an equivalent amount of reimbursable expenses are included in operating expenses. Any mark-up on reimbursable expenses is included in revenues before reimbursements. The Company reports revenues net of subcontractor fees for certain subcontracts where the Company has determined that it is acting as an agent because its performance obligation is to arrange for the provision of goods or services by another party. The total amount of subcontractor fees not included in revenues because the Company was acting as an agent were $ 6,996,000 and $ 1,219,000 during the third quarter of 2022 and 2021, respectively, and $ 18,040,000 and $ 9,923,000 during the nine months of 2022 and 2021, respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3: Fair Value Measurements The Company measures certain financial assets and liabilities at fair value on a recurring basis, including money market securities, trading fixed income and equity securities held in its deferred compensation plan and the liability associated with its deferred compensation plan. There were no transfers between fair value measurement levels during the three and nine months ended September 30, 2022 and October 1, 2021. Any transfers between fair value measurement levels would be recorded on the actual date of the event or change in circumstances that caused the transfer. The fair value of these certain financial assets and liabilities was determined using the following inputs at September 30, 2022: Fair Value Measurements at Reporting Date Using (In thousands) Total Quoted Prices in Significant Other Significant Assets Money market securities (1) $ 51,794 $ 51,794 $ - $ - Fixed income trading securities held in deferred (2) 33,772 33,772 - - Equity trading securities held in deferred compensation (2) 60,807 60,807 - - Total $ 146,373 $ 146,373 $ - $ - Liabilities Deferred compensation plan (3) 94,502 94,502 - - Total $ 94,502 $ 94,502 $ - $ - (1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. (2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. (3) Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet. The fair value of these certain financial assets and liabilities was determined using the following inputs at December 31, 2021: Fair Value Measurements at Reporting Date Using (In thousands) Total Quoted Prices in Significant Other Significant Assets Money market securities (1) $ 101,581 $ 101,581 $ - $ - Fixed income trading securities held in deferred (2) 25,275 25,275 - - Equity trading securities held in deferred compensation (2) 84,067 84,067 - - Total $ 210,923 $ 210,923 $ - $ - Liabilities Deferred compensation plan (3) 110,379 110,379 - - Total $ 110,379 $ 110,379 $ - $ - (1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. (2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. (3) Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet. Money market securities as of September 30, 2022 and December 31, 2021 represent obligations of the United States Treasury. Fixed income and equity trading securities represent mutual funds held in the Company’s deferred compensation plan. See Note 6 for additional information about the Company’s deferred compensation plan. Cash and cash equivalents consisted of the following as of September 30, 2022: Gross Gross Amortized Unrealized Unrealized Estimated (In thousands) Cost Gains Losses Fair Value Classified as current assets: Cash $ 96,649 $ - $ - $ 96,649 Cash equivalents: Money market securities 51,794 - - 51,794 Total cash equivalents 51,794 - - 51,794 Total cash and cash equivalents 148,443 - - 148,443 Cash and cash equivalents consisted of the following as of December 31, 2021: Amortized Unrealized Unrealized Estimated (In thousands) Cost Gains Losses Fair Value Classified as current assets: Cash $ 196,106 $ - $ - $ 196,106 Cash equivalents: Money market securities 101,581 - - 101,581 Total cash equivalents 101,581 - - 101,581 Total cash and cash equivalents $ 297,687 $ - $ - $ 297,687 At September 30, 2022 and December 31, 2021, the Company did not have any assets or liabilities valued using significant unobservable inputs. The following financial instruments are not measured at fair value on the Company's unaudited condensed consolidated balance sheet at September 30, 2022 and December 31, 2021, but require disclosure of their fair values: accounts receivable, other assets and accounts payable. The estimated fair value of such instruments at September 30, 2022 and December 31, 2021 approximates their carrying value as reported on the Company’s unaudited condensed consolidated balance sheet.

Net Income Per Share

Net Income Per Share	9 Months Ended
Net Income Per Share	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income Per Share	Note 4: Net Income Per Share Basic per share amounts are computed using the weighted-average number of common shares outstanding during the period. Diluted per share amounts are calculated using the weighted-average number of common shares outstanding during the period and, when dilutive, the weighted-average number of potential common shares from the issuance of common stock to satisfy outstanding restricted stock units and the exercise of outstanding options to purchase common stock using the treasury stock method. The following schedule reconciles the shares used to calculate basic and diluted net income per share: Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Shares used in basic per share computation 51,492 52,618 51,934 52,597 Effect of dilutive common stock options 202 245 202 239 Effect of dilutive restricted stock units 314 449 353 480 Shares used in diluted per share 52,008 53,312 52,489 53,316 There were no equity awards excluded from the diluted per share calculation for the three and nine months ended September 30, 2022 and October 1, 2021.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 5: Stock-Based Compensation Restricted Stock Units Restricted stock unit grants are designed to attract and retain employees, and to better align employee interests with those of the Company’s stockholders. For a select group of employees, up to 40 % of their annual bonus is settled with fully vested restricted stock unit awards. Under these fully vested restricted stock unit awards, the holder of each award has the right to receive one share of the Company’s common stock for each fully vested restricted stock unit four years from the date of grant. Each individual who receives a fully vested restricted stock unit award is also granted a matching number of unvested restricted stock unit awards. Unvested restricted stock unit awards are also granted for select new hires and promotions. These unvested restricted stock unit awards generally cliff vest four years from the date of grant, at which time the holder of each award will have the right to receive one share of the Company’s common stock for each restricted stock unit award provided the holder of each award has met certain employment conditions. In the case of retirement at 59½ years or older, all unvested restricted stock unit awards will continue to vest, provided that the holder of each award does all consulting work through the Company and does not become an employee for a past or present client, beneficial party or competitor of the Company. The value of these restricted stock unit awards is determined based on the market price of the Company’s common stock on the date of grant. The value of fully vested restricted stock unit awards issued is recorded as a reduction to accrued bonuses. The portion of bonus expense that the Company expects to settle with fully vested restricted stock unit awards is recorded as stock-based compensation during the period the bonus is earned. The Company recorded stock-based compensation expense associated with accrued bonus awards of $ 2,606,000 and $ 2,525,000 during the three months ended September 30, 2022 and October 1, 2021, respectively. For the nine months ended September 30, 2022 and October 1, 2021, the Company recorded stock-based compensation expense associated with accrued bonus awards of $ 8,133,000 and $ 7,723,000 , respectively. The value of the unvested restricted stock unit awards granted is recognized on a straight-line basis over the shorter of the four-year vesting period or the period between the grant date and the date the award recipient turns 59½. If the award recipient is 59½ years or older on the date of grant, the value of the entire award is expensed upon grant. The Company recorded stock-based compensation expense associated with the unvested restricted stock unit awards of $ 1,787,000 and $ 1,654,000 during the three months ended September 30, 2022 and October 1, 2021, respectively. The Company recorded stock-based compensation expense associated with the unvested restricted stock unit awards of $ 7,315,000 and $ 6,967,000 durin g the nine months ended September 30, 2022 and October 1, 2021, respectively. Stock Options Stock options are granted for terms of ten years and generally vest 25 % per year over a four-year period from the grant date. Unvested stock option awards will continue to vest in the case of retirement at 59½ years or older, provided that the holder of each award does all consulting work through the Company and does not become an employee for a past or present client, beneficial party or competitor of the Company. The value of the unvested stock option awards granted is recognized on a straight-line basis over the shorter of the four-year vesting period or the period between the grant date and the date the award recipient turns 59½ . If the award recipient is 59½ years or older on the date of grant, the value of the entire award is expensed upon grant. The Company recorded stock-based compensation expense associated with stock option grants of $ 212,000 and $ 186,000 during the three months ended September 30, 2022 and October 1, 2021, respectively. The Company recorded stock-based compensation expense associated with stock option grants of $ 623,000 and $ 549,000 during the nine months ended September 30, 2022 and October 1, 2021, respectively. The Company uses the Black-Scholes option-pricing model to determine the fair value of options granted. The determination of the fair value of stock option awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables. These variables include expected stock price volatility over the term of the award, actual and projected employee stock option exercise behaviors, the risk-free interest rate and expected dividends. The Company used historical exercise, forfeiture, and post-vesting expiration data to estimate the expected term of options granted. The historical volatility of the Company’s common stock over a period of time equal to the expected term of the options granted was used to estimate expected volatility. The risk-free interest rate used in the option-pricing model was based on United States Treasury zero-coupon issues with remaining terms similar to the expected term of the options. The dividend yield assumption considers the expectation of continued declaration of dividends, offset by option holders’ dividend equivalent rights. The Company accounts for forfeitures of stock-based awards when they occur. All stock-based payment awards are recognized on a straight-line basis over the requisite service periods of the awards.

Deferred Compensation Plans

Deferred Compensation Plans	9 Months Ended
Deferred Compensation Plans	Sep. 30, 2022
Deferred Compensation Arrangements [Abstract]
Deferred Compensation Plans	Note 6: Deferred Compensation Plans The Company maintains nonqualified deferred compensation plans for the benefit of a select group of highly compensated employees. Under these plans, participants may elect to defer up to 100 % of their compensation. Company assets that are earmarked to pay benefits under the plans are held in a rabbi trust and are subject to the claims of the Company’s creditors. As of September 30, 2022 and December 31, 2021 the invested amounts under the plans totaled $ 94,579,000 and $ 109,342,000 , respectively, and are recorded in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheets. These assets are classified as trading securities and are recorded at fair value with changes recorded as adjustments to miscellaneous income (expense), net. As of September 30, 2022 and December 31, 2021 vested amounts due under the plans totaled $ 94,502,000 and $ 110,379,000 , respectively, and are recorded within accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheets. Changes in the liability are recorded as adjustments to compensation expense. During the three months ended September 30, 2022, the Company recognized a reduction to compensation expense of $ 4,925,000 as a result of changes in the market value of the trust assets with the same amount being recorded as a loss in miscellaneous income (expense), net. During the three months ended October 1, 2021, the Company recognized a reduction to compensation expense of $ 258,000 as a result of changes in the market value of the trust assets with the same amount being recorded as a loss in miscellaneous income (expense), net. During the nine months ended September 30, 2022, the Company recognized a reduction in compensation expense of $ 20,884,000 as a result of changes in the market value of the trust assets with the same amount being recorded as a loss in miscellaneous income (expense), net. During the nine months ended October 1, 2021, the Company recognized additional compensation expense of $ 9,997,000 as a result of changes in the market value of the trust assets with the same amount being recorded as income in miscellaneous income (expense), net.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
Supplemental Cash Flow Information	Sep. 30, 2022
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Note 7: Supplemental Cash Flow Information The following is supplemental disclosure of cash flow information: Nine Months Ended (In thousands) September 30, October 1, Cash paid during period: Income taxes $ 24,349 $ 16,481 Non-cash investing and financing activities: Unrealized loss on short-term investments $ - $ ( 65 ) Vested stock unit awards issued to settle accrued bonuses $ 10,200 $ 7,637 Accrual for capital expenditures as of period end $ 846 $ 368 Right-of-use asset obtained in exchange for operating lease obligations $ 8,090 $ 792

Accounts Receivable, Net

Accounts Receivable, Net	9 Months Ended
Accounts Receivable, Net	Sep. 30, 2022
Receivables [Abstract]
Accounts Receivable, Net	Note 8: Accounts Receivable, Net At September 30, 2022 and December 31, 2021, accounts receivable, net, was comprised of the following: September 30, December 31, (In thousands) 2022 2021 Billed accounts receivable $ 110,428 $ 102,028 Unbilled accounts receivable 61,743 42,256 Allowance for contract losses and doubtful accounts ( 6,157 ) ( 4,423 ) Total accounts receivable, net $ 166,014 $ 139,861 The Company maintains allowances for estimated losses over the remaining contractual life of its receivables resulting from the inability of customers to meet their financial obligations or for disputes that affect the Company’s ability to fully collect amounts due. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations or aware of a dispute with a specific customer, a specific allowance is recorded to reduce the net recognized receivable to the amount the Company reasonably believes will be collected. For all other customers the Company recognizes allowances for doubtful accounts based upon historical write-offs, customer concentration, customer creditworthiness, current economic conditions, aging of amounts due and future expectations. A reconciliation of the beginning and ending amount of the allowance for contract losses and doubtful accounts is as follows (in thousands): Balance at December 31, 2021 $ 4,423 Provision for contract losses and doubtful accounts 2,112 Write-offs ( 378 ) Balance at September 30, 2022 $ 6,157

Segment Reporting

Segment Reporting	9 Months Ended
Segment Reporting	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Reporting	Note 9: Segment Reporting The Company has two reportable operating segments based on two primary areas of service. The Engineering and Other Scientific segment is a broad service group providing technical consulting in different practices primarily in engineering. The Environmental and Health segment provides services in the areas of environmental, epidemiology and health risk analysis. This segment provides a wide range of consulting services relating to environmental hazards and risks and the impact on both human health and the environment. Our Chief Executive Officer, the chief operating decision maker, reviews revenues and operating income for each of our reportable segments, but does not review total assets in evaluating segment performance and capital allocation. Segment information for the three and nine months ended September 30, 2022 and October 1, 2021 follows: Revenues Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Engineering and Other Scientific $ 107,403 $ 97,100 $ 321,168 $ 288,848 Environmental and Health 19,776 19,305 64,770 63,915 Total revenues $ 127,179 $ 116,405 $ 385,938 $ 352,763 Operating Income Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Engineering and Other Scientific $ 39,385 $ 36,676 $ 117,907 $ 108,646 Environmental and Health 6,378 5,851 21,059 21,265 Total segment operating income 45,763 42,527 138,966 129,911 Corporate operating expense ( 8,950 ) ( 10,408 ) ( 20,159 ) ( 44,362 ) Total operating income $ 36,813 $ 32,119 $ 118,807 $ 85,549 Certain operating expenses are excluded from the Company’s measure of segment operating income. These expenses include costs associated with its human resources, finance, information technology, and business development groups; the deferred compensation expense/benefit due to the change in value of assets associated with its deferred compensation plan; stock-based compensation associated with restricted stock unit and stock option awards; and the change in its allowance for contract losses and doubtful accounts. Capital Expenditures Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Engineering and Other Scientific $ 870 $ 563 $ 3,050 $ 1,981 Environmental and Health 48 57 104 136 Total segment capital expenditures 918 620 3,154 2,117 Corporate capital expenditures 1,172 778 6,387 3,086 Total capital expenditures $ 2,090 $ 1,398 $ 9,541 $ 5,203 Certain capital expenditures associated with the Company’s corporate cost centers and the related depreciation are excluded from the Company’s segment information. Depreciation and Amortization Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Engineering and Other Scientific $ 1,108 $ 1,089 $ 3,301 $ 3,074 Environmental and Health 41 49 124 141 Total segment depreciation and 1,149 1,138 3,425 3,215 Corporate depreciation and amortization 574 507 1,799 1,728 Total depreciation and amortization $ 1,723 $ 1,645 $ 5,224 $ 4,943 One client comprised 16 % and 15 % of the Company’s revenues during the three months ended September 30, 2022 and October 1, 2021, respectively. The same client comprised 15 % and 13 % of the Company's revenues during the nine months ended September 30, 2022 and October 1, 2021, respectively.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2022
Leases [Abstract]
Leases	Note 10: Leases The Company determines if an arrangement is a lease at the inception of the arrangement. Operating leases are included in operating lease right-of-use (“ROU”) assets, current operating lease liabilities, and long-term operating lease liabilities in the Company’s condensed consolidated balance sheet. The Company does not have any finance leases as of September 30, 2022. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate, based on the information available at commencement date, in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The amortization of operating lease ROU assets and the change in operating lease liabilities is disclosed as a single line item in the condensed consolidated statements of cash flows. The Company leases office, laboratory, and storage space in 13 states and the District of Columbia, as well as in China, Hong Kong, Singapore, Switzerland, and the United Kingdom. Leases for these office, laboratory, and storage facilities have terms generally ranging between one and ten years . Some of these leases include options to extend or terminate the lease, none of which are currently included in the lease term as the Company has determined that exercise of these options is not reasonably certain. The Company has a Test and Engineering Center on 147 acres of land in Phoenix, Arizona. The Company leases this land from the state of Arizona under a 30-year lease agreement that expires in January of 2028 and has options to renew for two fifteen-year periods. As of September 30, 2022, the Company has determined that exercise of the renewal options is not reasonably certain and thus the extension is not included in the lease term. The Company’s equipment leases are included in the ROU asset and liability balances, but are not material. The Company leases excess space in its Silicon Valley and Natick facilities. Rental income of $ 739,000 and $ 624,000 was included in other income for the three months ended September 30, 2022 and October 1, 2021, respectively. Rental income of $ 2,157,000 and $ 2,030,000 was included in other income for the nine months ended September 30, 2022 and October 1, 2021, respectively. The components of lease expense included in other operating expenses on the condensed consolidated statements of income were as follows: Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Operating lease cost $ 1,681 $ 1,635 $ 5,247 $ 4,896 Variable lease cost 274 246 913 793 Short-term lease cost 194 68 425 319 Supplemental cash flow information related to operating leases was as follows: Three Months Ended Nine Months Ended (In thousands) September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Cash paid for amounts included in the $ 1,518 $ 1,566 $ 5,083 $ 5,381 Supplemental balance sheet information related to operating leases was as follows: September 30, December 31, Weighted Average Remaining Lease Term 4.3 years 4.1 years Weighted Average Discount Rate 4.0 % 4.2 % Maturities of operating lease liabilities as of September 30, 2022: Operating (In thousands) Leases 2022 (excluding the nine months ended September 30, 2022) 1,413 2023 5,885 2024 4,178 2025 3,296 2026 3,084 2027 2,589 2028 162 Total lease payments $ 20,607 Less imputed interest ( 2,050 ) Total lease liability $ 18,557

Contingencies

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 11: Contingencies The Company is a party to various legal actions from time to time and may be contingently liable in connection with claims and contracts arising in the normal course of business, the outcome of which the Company believes, after consultation with legal counsel, will not have a material adverse effect on its financial condition, results of operations or liquidity. However, due to the risks and uncertainties inherent in legal proceedings, actual results could differ from current expected results. All legal costs associated with litigation are expensed as incurred.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 12: Subsequent Events On October 27, 2022 , the Company’s Board of Directors announced a cash dividend of $ 0.24 per share of the Company’s common stock, payable December 23, 2022 , to stockholders of record as of December 9, 2022 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Note 1: Basis of Presentation Exponent, Inc. (referred to as the “Company” or “Exponent”) is an engineering and scientific consulting firm that provides solutions to complex problems. The Company operates on a 52-53 week fiscal year ending on the Friday closest to the last day of December. The accompanying unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission. Accordingly, they do not contain all the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments which are necessary for the fair presentation of the condensed consolidated financial statements have been included and all such adjustments are of a normal and recurring nature. The operating results for the three and nine months ended September 30, 2022 are not necessarily representative of the results of future quarterly or annual periods. The following information should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the U.S. Securities and Exchange Commission on February 25, 2022. The unaudited condensed consolidated financial statements include the accounts of Exponent, Inc. and its subsidiaries, which are all wholly owned. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Items subject to such estimates and assumptions include accounting for revenue recognition and estimating the allowance for contract losses and doubtful accounts. Actual results could differ from those estimates.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2022
Revenue Recognition [Abstract]
Summary of Percent of Revenues	The following table discloses the percentage of the Company’s revenue generated from time and materials contracts: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, Engineering & Other Scientific 64 % 62 % 63 % 62 % Environmental and Health 14 % 16 % 16 % 17 % Total time and materials revenues 78 % 78 % 79 % 79 % The following table discloses the percentage of the Company’s revenue generated from fixed price contracts: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, Engineering & Other Scientific 21 % 21 % 20 % 20 % Environmental and Health 1 % 1 % 1 % 1 % Total fixed price revenues 22 % 22 % 21 % 21 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The fair value of these certain financial assets and liabilities was determined using the following inputs at September 30, 2022: Fair Value Measurements at Reporting Date Using (In thousands) Total Quoted Prices in Significant Other Significant Assets Money market securities (1) $ 51,794 $ 51,794 $ - $ - Fixed income trading securities held in deferred (2) 33,772 33,772 - - Equity trading securities held in deferred compensation (2) 60,807 60,807 - - Total $ 146,373 $ 146,373 $ - $ - Liabilities Deferred compensation plan (3) 94,502 94,502 - - Total $ 94,502 $ 94,502 $ - $ - (1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. (2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. (3) Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet. The fair value of these certain financial assets and liabilities was determined using the following inputs at December 31, 2021: Fair Value Measurements at Reporting Date Using (In thousands) Total Quoted Prices in Significant Other Significant Assets Money market securities (1) $ 101,581 $ 101,581 $ - $ - Fixed income trading securities held in deferred (2) 25,275 25,275 - - Equity trading securities held in deferred compensation (2) 84,067 84,067 - - Total $ 210,923 $ 210,923 $ - $ - Liabilities Deferred compensation plan (3) 110,379 110,379 - - Total $ 110,379 $ 110,379 $ - $ - (1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. (2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet.
Cash and Cash Equivalents	Cash and cash equivalents consisted of the following as of September 30, 2022: Gross Gross Amortized Unrealized Unrealized Estimated (In thousands) Cost Gains Losses Fair Value Classified as current assets: Cash $ 96,649 $ - $ - $ 96,649 Cash equivalents: Money market securities 51,794 - - 51,794 Total cash equivalents 51,794 - - 51,794 Total cash and cash equivalents 148,443 - - 148,443 Cash and cash equivalents consisted of the following as of December 31, 2021: Amortized Unrealized Unrealized Estimated (In thousands) Cost Gains Losses Fair Value Classified as current assets: Cash $ 196,106 $ - $ - $ 196,106 Cash equivalents: Money market securities 101,581 - - 101,581 Total cash equivalents 101,581 - - 101,581 Total cash and cash equivalents $ 297,687 $ - $ - $ 297,687

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
Net Income Per Share (Tables)	Sep. 30, 2022
Earnings Per Share [Abstract]
Reconciles Shares to Calculate Basic and Diluted Net Income Per Share	The following schedule reconciles the shares used to calculate basic and diluted net income per share: Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Shares used in basic per share computation 51,492 52,618 51,934 52,597 Effect of dilutive common stock options 202 245 202 239 Effect of dilutive restricted stock units 314 449 353 480 Shares used in diluted per share 52,008 53,312 52,489 53,316

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
Supplemental Cash Flow Information (Tables)	Sep. 30, 2022
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosure of Cash Flow Information	The following is supplemental disclosure of cash flow information: Nine Months Ended (In thousands) September 30, October 1, Cash paid during period: Income taxes $ 24,349 $ 16,481 Non-cash investing and financing activities: Unrealized loss on short-term investments $ - $ ( 65 ) Vested stock unit awards issued to settle accrued bonuses $ 10,200 $ 7,637 Accrual for capital expenditures as of period end $ 846 $ 368 Right-of-use asset obtained in exchange for operating lease obligations $ 8,090 $ 792

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	9 Months Ended
Accounts Receivable, Net (Tables)	Sep. 30, 2022
Receivables [Abstract]
Accounts Receivable, Net	At September 30, 2022 and December 31, 2021, accounts receivable, net, was comprised of the following: September 30, December 31, (In thousands) 2022 2021 Billed accounts receivable $ 110,428 $ 102,028 Unbilled accounts receivable 61,743 42,256 Allowance for contract losses and doubtful accounts ( 6,157 ) ( 4,423 ) Total accounts receivable, net $ 166,014 $ 139,861
Reconciliation of Beginning and Ending Amount of Allowance for Contract Losses and Doubtful Accounts	A reconciliation of the beginning and ending amount of the allowance for contract losses and doubtful accounts is as follows (in thousands): Balance at December 31, 2021 $ 4,423 Provision for contract losses and doubtful accounts 2,112 Write-offs ( 378 ) Balance at September 30, 2022 $ 6,157

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
Segment Reporting (Tables)	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	Segment information for the three and nine months ended September 30, 2022 and October 1, 2021 follows: Revenues Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Engineering and Other Scientific $ 107,403 $ 97,100 $ 321,168 $ 288,848 Environmental and Health 19,776 19,305 64,770 63,915 Total revenues $ 127,179 $ 116,405 $ 385,938 $ 352,763 Operating Income Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Engineering and Other Scientific $ 39,385 $ 36,676 $ 117,907 $ 108,646 Environmental and Health 6,378 5,851 21,059 21,265 Total segment operating income 45,763 42,527 138,966 129,911 Corporate operating expense ( 8,950 ) ( 10,408 ) ( 20,159 ) ( 44,362 ) Total operating income $ 36,813 $ 32,119 $ 118,807 $ 85,549 Certain operating expenses are excluded from the Company’s measure of segment operating income. These expenses include costs associated with its human resources, finance, information technology, and business development groups; the deferred compensation expense/benefit due to the change in value of assets associated with its deferred compensation plan; stock-based compensation associated with restricted stock unit and stock option awards; and the change in its allowance for contract losses and doubtful accounts. Capital Expenditures Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Engineering and Other Scientific $ 870 $ 563 $ 3,050 $ 1,981 Environmental and Health 48 57 104 136 Total segment capital expenditures 918 620 3,154 2,117 Corporate capital expenditures 1,172 778 6,387 3,086 Total capital expenditures $ 2,090 $ 1,398 $ 9,541 $ 5,203 Certain capital expenditures associated with the Company’s corporate cost centers and the related depreciation are excluded from the Company’s segment information. Depreciation and Amortization Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Engineering and Other Scientific $ 1,108 $ 1,089 $ 3,301 $ 3,074 Environmental and Health 41 49 124 141 Total segment depreciation and 1,149 1,138 3,425 3,215 Corporate depreciation and amortization 574 507 1,799 1,728 Total depreciation and amortization $ 1,723 $ 1,645 $ 5,224 $ 4,943

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2022
Leases [Abstract]
Lease, Cost	The components of lease expense included in other operating expenses on the condensed consolidated statements of income were as follows: Three Months Ended Nine Months Ended (In thousands) September 30, October 1, September 30, October 1, Operating lease cost $ 1,681 $ 1,635 $ 5,247 $ 4,896 Variable lease cost 274 246 913 793 Short-term lease cost 194 68 425 319
Supplemental Cash Flow Information Related to Operating Lease	Supplemental cash flow information related to operating leases was as follows: Three Months Ended Nine Months Ended (In thousands) September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Cash paid for amounts included in the $ 1,518 $ 1,566 $ 5,083 $ 5,381
Supplemental Balance Sheet Information Related to Operating Lease	Supplemental balance sheet information related to operating leases was as follows: September 30, December 31, Weighted Average Remaining Lease Term 4.3 years 4.1 years Weighted Average Discount Rate 4.0 % 4.2 %
Maturities of Lease Liabilities	Maturities of operating lease liabilities as of September 30, 2022: Operating (In thousands) Leases 2022 (excluding the nine months ended September 30, 2022) 1,413 2023 5,885 2024 4,178 2025 3,296 2026 3,084 2027 2,589 2028 162 Total lease payments $ 20,607 Less imputed interest ( 2,050 ) Total lease liability $ 18,557

Revenue Recognition - Summary o

Revenue Recognition - Summary of Revenues (Detail) - Sales Revenue, Net [Member] - Revenue from Rights Concentration Risk [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Time And Materials Contracts [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	78%	78%	79%	79%
Time And Materials Contracts [Member] \| Engineering and Other Scientific [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	64%	62%	63%	62%
Time And Materials Contracts [Member] \| Environmental and Health [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	14%	16%	16%	17%
Fixed Price Contracts [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	22%	22%	21%	21%
Fixed Price Contracts [Member] \| Engineering and Other Scientific [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	21%	21%	20%	20%
Fixed Price Contracts [Member] \| Environmental and Health [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	1%	1%	1%	1%

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Revenue Recognition [Abstract]
Deferred Revenue, Revenue Recognized	$ 6,343,000		$ 14,215,000
Subcontractor Fees Not Included In Revenues	$ 6,996,000	$ 1,219,000	$ 18,040,000	$ 9,923,000

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)		Sep. 30, 2022	Dec. 31, 2021
Assets
Trading securities held in deferred compensation plan		$ 94,579,000	$ 109,342,000
Total		146,373,000	210,923,000
Liabilities
Deferred compensation plan	[1]	94,502,000	110,379,000
Total		94,502,000	110,379,000
Money market securities
Assets
Money market securities	[2]	51,794,000	101,581,000
Fixed Income Securities
Assets
Trading securities held in deferred compensation plan	[3]	33,772,000	25,275,000
Equity securities
Assets
Trading securities held in deferred compensation plan	[3]	60,807,000	84,067,000
Fair Value, Inputs, Level 1
Assets
Total		146,373,000	210,923,000
Liabilities
Deferred compensation plan	[1]	94,502,000	110,379,000
Total		94,502,000	110,379,000
Fair Value, Inputs, Level 1 \| Money market securities
Assets
Money market securities	[2]	51,794,000	101,581,000
Fair Value, Inputs, Level 1 \| Fixed Income Securities
Assets
Trading securities held in deferred compensation plan	[3]	33,772,000	25,275,000
Fair Value, Inputs, Level 1 \| Equity securities
Assets
Trading securities held in deferred compensation plan	[3]	60,807,000	84,067,000
Fair Value, Inputs, Level 2
Assets
Total		0	0
Liabilities
Deferred compensation plan	[1]	0	0
Total		0	0
Fair Value, Inputs, Level 2 \| Money market securities
Assets
Money market securities	[2]	0	0
Fair Value, Inputs, Level 2 \| Fixed Income Securities
Assets
Trading securities held in deferred compensation plan	[3]	0	0
Fair Value, Inputs, Level 2 \| Equity securities
Assets
Trading securities held in deferred compensation plan	[3]	0	0
Fair Value, Inputs, Level 3
Assets
Total		0	0
Liabilities
Deferred compensation plan	[1]	0	0
Total		0	0
Fair Value, Inputs, Level 3 \| Money market securities
Assets
Money market securities	[2]	0	0
Fair Value, Inputs, Level 3 \| Fixed Income Securities
Assets
Trading securities held in deferred compensation plan	[3]	0	0
Fair Value, Inputs, Level 3 \| Equity securities
Assets
Trading securities held in deferred compensation plan	[3]	$ 0	$ 0

[1] Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet. Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet.

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Cash
Fair Value Measurements [Line Items]
Amortized Cost	$ 96,649	$ 196,106
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	96,649	196,106
Money market securities
Fair Value Measurements [Line Items]
Amortized Cost	51,794	101,581
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	51,794	101,581
Total cash equivalents
Fair Value Measurements [Line Items]
Amortized Cost	51,794	101,581
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	51,794	101,581
Total cash and cash equivalents
Fair Value Measurements [Line Items]
Amortized Cost	148,443	297,687
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 148,443	$ 297,687

Reconciles the Denominators of

Reconciles the Denominators of the Company's Calculation for Basic and Diluted Net Income per Share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Schedule Of Earnings Per Share Basic and Diluted [Line Items]
Shares used in basic per share computation	51,492	52,618	51,934	52,597
Shares used in diluted per share computation	52,008	53,312	52,489	53,316
Employee Stock Option
Schedule Of Earnings Per Share Basic and Diluted [Line Items]
Effect of dilutive stock outstanding	202	245	202	239
Restricted Stock Units (RSUs)
Schedule Of Earnings Per Share Basic and Diluted [Line Items]
Effect of dilutive stock outstanding	314	449	353	480

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0	0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual bonus settled with fully vested restricted stock unit awards			40%
Vested Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, holding period			4 years
Stock based compensation expense	$ 2,606,000	$ 2,525,000	$ 8,133,000	$ 7,723,000
Unvested Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, vesting period			4 years
Unvested Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	1,787,000	1,654,000	$ 7,315,000	6,967,000
Unvested Restricted Stock Awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient age to expense award on grant date			59 years 6 months
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, vesting period			4 years
Stock based compensation expense	$ 212,000	$ 186,000	$ 623,000	$ 549,000
Share Based Compensation Arrangement By Share Based Payment Award Options Expiration Term			10 years
Vesting percentage of stock options granted per year			25%
Unvested Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient age to expense award on grant date			59 years 6 months

Deferred Compensation Plans - A

Deferred Compensation Plans - Additional Information (Detail) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021	Dec. 31, 2021
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Trading securities held in deferred compensation plan		$ 94,579,000		$ 94,579,000		$ 109,342,000
Deferred compensation plan	[1]	94,502,000		94,502,000		$ 110,379,000
Change in market value of trust assets		$ (4,925,000)	$ (258,000)	$ (20,884,000)	$ 9,997,000
Maximum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Percentage of compensation deferred				100%

[1] Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet.

Supplemental Disclosure of Cash

Supplemental Disclosure of Cash Flow Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021
Cash paid during period:
Income taxes	$ 24,349	$ 16,481
Non-cash investing and financing activities:
Unrealized loss on short-term investments	0	(65)
Vested stock unit awards issued to settle accrued bonuses	10,200	7,637
Accrual for capital expenditures as of period end	846	368
Right-of-use asset obtained in exchange for operating lease obligations	$ 8,090	$ 792

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Allowance for contract losses and doubtful accounts	$ (6,157)	$ (4,423)
Total accounts receivable, net	166,014	139,861
Billed accounts receivable
Accounts Notes And Loans Receivable [Line Items]
Accounts Receivable	110,428	102,028
Unbilled accounts receivable
Accounts Notes And Loans Receivable [Line Items]
Accounts Receivable	$ 61,743	$ 42,256

Accounts Receivable, Net - Reco

Accounts Receivable, Net - Reconciliation of Beginning and Ending Amount of Allowance for Contract Losses and Doubtful Accounts (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021
Receivables [Abstract]
Balance at December 31, 2021	$ 4,423
Provision for contract losses and doubtful accounts	2,112	$ 1,197
Write-offs	(378)
Balance at September 30, 2022	$ 6,157

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Segment Reporting Information [Line Items]
Revenues	$ 127,179	$ 116,405	$ 385,938	$ 352,763
Operating Income	36,813	32,119	118,807	85,549
Capital Expenditures	2,090	1,398	9,541	5,203
Depreciation and Amortization	1,723	1,645	5,224	4,943
Operating segments
Segment Reporting Information [Line Items]
Operating Income	45,763	42,527	138,966	129,911
Capital Expenditures	918	620	3,154	2,117
Depreciation and Amortization	1,149	1,138	3,425	3,215
Corporate
Segment Reporting Information [Line Items]
Operating Income	(8,950)	(10,408)	(20,159)	(44,362)
Capital Expenditures	1,172	778	6,387	3,086
Depreciation and Amortization	574	507	1,799	1,728
Engineering and Other Scientific \| Operating segments
Segment Reporting Information [Line Items]
Revenues	107,403	97,100	321,168	288,848
Operating Income	39,385	36,676	117,907	108,646
Capital Expenditures	870	563	3,050	1,981
Depreciation and Amortization	1,108	1,089	3,301	3,074
Environmental and Health \| Operating segments
Segment Reporting Information [Line Items]
Revenues	19,776	19,305	64,770	63,915
Operating Income	6,378	5,851	21,059	21,265
Capital Expenditures	48	57	104	136
Depreciation and Amortization	$ 41	$ 49	$ 124	$ 141

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member] - Client One [Member] - Client	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Segment Reporting Information [Line Items]
Number of clients comprised more than 10% of revenues	1	1	1	1
Concentration Risk, Percentage	16%	15%	15%	13%

Leases - Additional Information

Leases - Additional Information (Details)	3 Months Ended		9 Months Ended
Leases - Additional Information (Details)	Sep. 30, 2022 USD ($) a Option State	Oct. 01, 2021 USD ($)	Sep. 30, 2022 USD ($) a Option State	Oct. 01, 2021 USD ($)
Other Income [Member]
Lessee Lease Description [Line Items]
Rental Income \| $	$ 739,000	$ 624,000	$ 2,157,000	$ 2,030,000
Office, Laboratory, and Storage Space [Member]
Lessee Lease Description [Line Items]
Number of States in which Entity Has Lease Arrangements \| State	13		13
Office, Laboratory, and Storage Space [Member] \| Minimum
Lessee Lease Description [Line Items]
Lessee, Operating Lease, Term of Contract	1 year		1 year
Office, Laboratory, and Storage Space [Member] \| Maximum
Lessee Lease Description [Line Items]
Lessee, Operating Lease, Term of Contract	10 years		10 years
Phoenix Arizona
Lessee Lease Description [Line Items]
Lessee, Operating Lease, Term of Contract	30 years		30 years
Area of Land \| a	147		147
Number of Options to Renew Lease \| Option	2		2
Lessee, Operating Lease, Renewal Term	15 years		15 years

Components of Lease Expense (De

Components of Lease Expense (Details) - Other Operating Income (Expense) [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Operating lease cost	$ 1,681	$ 1,635	$ 5,247	$ 4,896
Variable lease cost	274	246	913	793
Short-term lease cost	$ 194	$ 68	$ 425	$ 319

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows from operating leases	$ 1,518	$ 1,566	$ 5,083	$ 5,381

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information (Details)	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted Average Remaining Lease Term	4 years 3 months 18 days	4 years 1 month 6 days
Weighted Average Discount Rate	4%	4.20%

Maturities of Lease Liabilities

Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
2022 (excluding the nine months ended September 30, 2022)	$ 1,413
2023	5,885
2024	4,178
2025	3,296
2026	3,084
2027	2,589
2028	162
Total lease payments	20,607
Less imputed interest	(2,050)
Total lease liability	$ 18,557

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares		3 Months Ended		9 Months Ended
	Oct. 27, 2022	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)		$ 0.24	$ 0.20	$ 0.72	$ 0.60
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)	$ 0.24
Dividends Payable, Date Declared	Oct. 27, 2022
Dividends Payable, Date to be Paid	Dec. 23, 2022
Dividends Payable, Date of Record	Dec. 09, 2022