Exponent (EXPO) 10-Q3 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 29, 2023	Oct. 27, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 29, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Registrant Name	EXPONENT, INC.
Entity Central Index Key	0000851520
Current Fiscal Year End Date	--12-29
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Trading Symbol	EXPO
Entity Common Stock, Shares Outstanding		50,622,438
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. 29, 2023	Dec. 30, 2022
Current assets:
Cash and cash equivalents	$ 137,099	$ 161,458
Accounts receivable, net of allowance for contract losses and doubtful accounts of $6,400 and $6,193 at September 29, 2023 and December 30, 2022, respectively	181,754	170,114
Prepaid expenses and other current assets	24,463	17,585
Total current assets	343,316	349,157
Property, equipment and leasehold improvements, net of accumulated depreciation and amortization of $109,435 and $103,034 at September 29, 2023 and December 30, 2022, respectively	76,246	65,539
Operating lease right-of-use assets	24,302	18,007
Goodwill	8,607	8,607
Deferred income taxes	54,448	53,909
Deferred compensation plan assets	90,727	89,437
Other assets	4,816	2,006
Total assets	602,462	586,662
Current liabilities:
Accounts payable and accrued liabilities	19,640	29,115
Accrued payroll and employee benefits	93,828	105,822
Deferred revenues	10,489	18,834
Operating lease liabilities	5,700	5,258
Total current liabilities	129,657	159,029
Other liabilities	4,136	2,355
Deferred compensation plan liabilities	93,070	91,183
Operating lease liabilities	21,964	13,343
Total liabilities	248,827	265,910
Stockholders’ equity:
Common stock, $0.001 par value; 120,000 shares authorized; 65,707 shares issued at September 29, 2023 and December 30, 2022	66	66
Additional paid-in capital	320,152	301,002
Accumulated other comprehensive loss
Foreign currency translation adjustments	(3,775)	(3,587)
Retained earnings	566,518	528,810
Treasury stock, at cost; 15,040 and 15,064 shares held at September 29, 2023 and December 30, 2022, respectively	(529,326)	(505,539)
Total stockholders’ equity	353,635	320,752
Total liabilities and stockholders’ equity	$ 602,462	$ 586,662

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 30, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for contract losses and doubtful accounts	$ 6,400	$ 6,193
Property, equipment and leasehold improvements, net of accumulated depreciation and amortization	$ 109,435	$ 103,034
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	15,040,000	15,064,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Revenues:
Revenues before reimbursements	$ 124,959	$ 115,143	$ 383,317	$ 351,231
Reimbursements	8,377	12,036	30,549	34,707
Revenues	133,336	127,179	413,866	385,938
Operating expenses:
Compensation and related expenses	74,011	62,779	241,028	189,982
Other operating expenses	10,997	8,822	30,863	25,742
Reimbursable expenses	8,377	12,036	30,549	34,707
General and administrative expenses	6,018	6,729	18,498	16,700
Total operating expenses	99,403	90,366	320,938	267,131
Operating income	33,933	36,813	92,928	118,807
Other income, net:
Interest income, net	1,858	638	5,221	834
Miscellaneous income (expense), net	(1,774)	(3,975)	7,659	(17,926)
Total other income (expense), net	84	(3,337)	12,880	(17,092)
Income before income taxes	34,017	33,476	105,808	101,715
Income taxes	9,479	9,034	26,398	21,909
Net income	$ 24,538	$ 24,442	$ 79,410	$ 79,806
Net income per share:
Basic (in dollars per share)	$ 0.48	$ 0.47	$ 1.55	$ 1.54
Diluted (in dollars per share)	$ 0.48	$ 0.47	$ 1.54	$ 1.52
Shares used in per share computations:
Basic (in shares)	51,203	51,492	51,197	51,934
Diluted (in shares)	51,645	52,008	51,680	52,489
Cash dividends declared per common share (in dollars per share)	$ 0.26	$ 0.24	$ 0.78	$ 0.72

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 24,538	$ 24,442	$ 79,410	$ 79,806
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	(515)	(1,493)	(188)	(3,153)
Comprehensive income	$ 24,023	$ 22,949	$ 79,222	$ 76,653

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 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
Balance at Dec. 30, 2022	320,752	$ 66	301,002	(3,587)	528,810	$ (505,539)
Balances (in shares) at Dec. 30, 2022		65,707				15,064
Employee stock purchase plan	1,143		1,015			$ 128
Employee stock purchase plan (in shares)						(12)
Amortization of unrecognized stock-based compensation	6,627		6,627
Foreign currency translation adjustments	327			327
Grant of restricted stock units to settle accrued bonus	10,497		10,497
Settlement of restricted stock units	(9,920)		(1,817)		(1,009)	$ (7,094)
Settlement of restricted stock units (in shares)						(186)
Exercise of stock options	100		22			$ 78
Exercise of stock options (in shares)						(8)
Dividends and dividend equivalent rights	(27,319)				(27,319)
Net income	54,872				54,872
Balance at Jun. 30, 2023	357,079	$ 66	317,346	(3,260)	555,354	$ (512,427)
Balances (in shares) at Jun. 30, 2023		65,707				14,858
Balance at Dec. 30, 2022	320,752	$ 66	301,002	(3,587)	528,810	$ (505,539)
Balances (in shares) at Dec. 30, 2022		65,707				15,064
Net income	79,410
Balance at Sep. 29, 2023	353,635	$ 66	320,152	(3,775)	566,518	$ (529,326)
Balances (in shares) at Sep. 29, 2023		65,707				15,040
Balance at Jun. 30, 2023	357,079	$ 66	317,346	(3,260)	555,354	$ (512,427)
Balances (in shares) at Jun. 30, 2023		65,707				14,858
Employee stock purchase plan	569		498			$ 71
Employee stock purchase plan (in shares)						(7)
Amortization of unrecognized stock-based compensation	2,308		2,308
Purchase of treasury stock	(16,970)					$ (16,970)
Purchase of treasury stock (in shares)						189
Foreign currency translation adjustments	(515)			(515)
Dividends and dividend equivalent rights	(13,374)				(13,374)
Net income	24,538				24,538
Balance at Sep. 29, 2023	$ 353,635	$ 66	$ 320,152	$ (3,775)	$ 566,518	$ (529,326)
Balances (in shares) at Sep. 29, 2023		65,707				15,040

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 79,410	$ 79,806
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, equipment and leasehold improvements	6,535	5,224
Provision for contract losses and doubtful accounts	1,911	2,112
Stock-based compensation	17,177	16,072
Deferred income tax provision	(539)	(3,955)
Changes in operating assets and liabilities:
Accounts receivable	(13,551)	(28,265)
Prepaid expenses and other current assets	(5,886)	(7,583)
Change in operating leases	(451)	(132)
Accounts payable and accrued liabilities	(7,094)	5,140
Accrued payroll and employee benefits	(13,124)	(11,211)
Deferred revenues	(8,345)	(3,971)
Net cash provided by operating activities	56,043	53,237
Cash flows from investing activities:
Capital expenditures	(14,422)	(9,108)
Net cash used in investing activities	(14,422)	(9,108)
Cash flows from financing activities:
Payroll taxes for restricted stock units	(9,920)	(12,904)
Repurchase of common stock	(16,970)	(142,195)
Exercise of stock-based payment awards	1,812	1,627
Dividends and dividend equivalents rights	(40,894)	(37,084)
Net cash used in financing activities	(65,972)	(190,556)
Effect of foreign currency exchange rates on cash and cash equivalents	(8)	(2,817)
Net change in cash and cash equivalents	(24,359)	(149,244)
Cash and cash equivalents at beginning of period	161,458	297,687
Cash and cash equivalents at end of period	$ 137,099	$ 148,443

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023	Jul. 01, 2022	Sep. 29, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 24,538	$ 24,442	$ 54,872	$ 55,364	$ 79,410	$ 79,806

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Sep. 29, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 29, 2023
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 29, 2023 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 30, 2022, which was filed with the U.S. Securities and Exchange Commission on February 24, 2023. The unaudited condensed consolidated financial statements include the accounts of Exponent 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. 29, 2023
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 29, September 30, September 29, September 30, Engineering & Other Scientific 61 % 64 % 63 % 63 % Environmental and Health 15 % 14 % 15 % 16 % Total time and materials revenues 76 % 78 % 78 % 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 29, September 30, September 29, September 30, Engineering & Other Scientific 23 % 21 % 20 % 20 % Environmental and Health 1 % 1 % 2 % 1 % Total fixed price revenues 24 % 22 % 22 % 21 % Deferred revenues represent amounts billed to clients in advance of services provided. During the third quarter of 2023, $ 4,045,000 of revenues were recognized that were included in the deferred revenue balance at June 30, 2023. During the first nine months of 2023, $ 13,393,000 of revenues were recognized that were included in the deferred revenue balance at December 30, 2022. 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 $ 2,379,000 and $ 6,996,000 during the third quarter of 2023 and 2022, respectively, and $ 10,727,000 and $ 18,040,000 during the first nine months of 2023 and 2022, respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 29, 2023
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 29, 2023 and September 30, 2022. 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 29, 2023: Fair Value Measurements at Reporting Date Using (In thousands) Total Quoted Prices in Significant Other Significant Assets Money market securities (1) $ 53,978 $ 53,978 $ - $ - Fixed income trading securities held in deferred (2) 33,928 33,928 - - Equity trading securities held in deferred compensation (2) 71,921 71,921 - - Total $ 159,827 $ 159,827 $ - $ - Liabilities Deferred compensation plan (3) 107,223 107,223 - - Total $ 107,223 $ 107,223 $ - $ - (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 30, 2022: Fair Value Measurements at Reporting Date Using (In thousands) Total Quoted Prices in Significant Other Significant Assets Money market securities (1) $ 52,159 $ 52,159 $ - $ - Fixed income trading securities held in deferred (2) 32,851 32,851 - - Equity trading securities held in deferred compensation (2) 67,880 67,880 - - Total $ 152,890 $ 152,890 $ - $ - Liabilities Deferred compensation plan (3) 101,354 101,354 - - Total $ 101,354 $ 101,354 $ - $ - (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 29, 2023 and December 30, 2022 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 29, 2023: Gross Gross Amortized Unrealized Unrealized Estimated (In thousands) Cost Gains Losses Fair Value Classified as current assets: Cash $ 83,121 $ - $ - $ 83,121 Cash equivalents: Money market securities 53,978 - - 53,978 Total cash equivalents 53,978 - - 53,978 Total cash and cash equivalents 137,099 - - 137,099 Cash and cash equivalents consisted of the following as of December 30, 2022: Amortized Unrealized Unrealized Estimated (In thousands) Cost Gains Losses Fair Value Classified as current assets: Cash $ 109,299 $ - $ - $ 109,299 Cash equivalents: Money market securities 52,159 - - 52,159 Total cash equivalents 52,159 - - 52,159 Total cash and cash equivalents $ 161,458 $ - $ - $ 161,458 At September 29, 2023 and December 30, 2022, 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 29, 2023 and December 30, 2022, but require disclosure of their fair values: accounts receivable, other assets and accounts payable. The estimated fair value of such instruments at September 29, 2023 and December 30, 2022 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. 29, 2023
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 29, September 30, September 29, September 30, Shares used in basic per share computation 51,203 51,492 51,197 51,934 Effect of dilutive common stock options 183 202 195 202 Effect of dilutive restricted stock units 259 314 288 353 Shares used in diluted per share 51,645 52,008 51,680 52,489 Common stock options to purchase 63,333 shares were excluded from the diluted per share calculation for the three months ended September 29, 2023 due to their anti-dilutive effect. Common stock options to purchase 24,835 shares were excluded from the diluted per share calculation for the nine months ended September 29, 2023, due to their anti-dilutive effect. There were no equity awards excluded from the diluted per share calculation for the three and nine months ended September 30, 2022.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 29, 2023
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 $ 2,583,000 and $ 2,606,000 during the three months ended September 29, 2023 and September 30, 2022, respectively. For the nine months ended September 29, 2023 and September 30, 2022, the Company recorded stock-based compensation expense associated with accrued bonus awards of $ 8,242,000 and $ 8,133,000 , 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 $ 2,038,000 and $ 1,787,000 during the three months ended September 29, 2023 and September 30, 2022, respectively. The Company recorded stock-based compensation expense associated with the unvested restricted stock unit awards of $ 8,124,000 and $ 7,315,000 during the nine months ended September 29, 2023 and September 30, 2022, 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 $ 270,000 and $ 212,000 during the three months ended September 29, 2023 and September 30, 2022, respectively. The Company recorded stock-based compensation expense associated with stock option grants of $ 811,000 and $ 623,000 during the nine months ended September 29, 2023 and September 30, 2022, 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. 29, 2023
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 29, 2023 and December 30, 2022, the invested amounts under the plans totaled $ 105,849,000 and $ 100,731,000 , respectively, and are recorded in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. These assets are classified as trading securities and are recorded at fair value with changes recorded as adjustments to miscellaneous income (loss), net. As of September 29, 2023 and December 30, 2022, vested amounts due under the plans totaled $ 107,223,000 and $ 101,354,000 , 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 29, 2023, the Company recognized a reduction to compensation expense of $ 2,769,000 as a result of changes in the market value of the trust assets with the same amount being recorded as gain in miscellaneous income (loss), net. 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 (loss), net. During the nine months ended September 29, 2023, the Company recognized additional compensation expense of $ 5,271,000 as a result of changes in the market value of the trust assets with the same amount being recorded as income in miscellaneous income, 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 (loss), net.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
Supplemental Cash Flow Information	Sep. 29, 2023
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 29, September 30, Cash paid during period: Income taxes $ 27,753 $ 24,349 Non-cash investing and financing activities: Vested stock unit awards issued to settle accrued bonuses 10,497 10,200 Right-of-use asset obtained in exchange for operating lease obligations 13,803 8,090 Leasehold improvements obtained in exchange for right-of-use asset 3,219 - Accrual for capital expenditures as of period end 618 846

Accounts Receivable, Net

Accounts Receivable, Net	9 Months Ended
Accounts Receivable, Net	Sep. 29, 2023
Receivables [Abstract]
Accounts Receivable, Net	Note 8: Accounts Receivable, Net At September 29, 2023 and December 30, 2022, accounts receivable, net, was comprised of the following: September 29, December 30, (In thousands) 2023 2022 Billed accounts receivable $ 135,076 $ 120,212 Unbilled accounts receivable 53,078 56,095 Allowance for contract losses and doubtful accounts ( 6,400 ) ( 6,193 ) Total accounts receivable, net $ 181,754 $ 170,114 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 30, 2022 $ 6,193 Provision for contract losses and doubtful accounts 1,911 Write-offs ( 1,704 ) Balance at September 29, 2023 $ 6,400

Segment Reporting

Segment Reporting	9 Months Ended
Segment Reporting	Sep. 29, 2023
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 29, 2023 and September 30, 2022 follows: Revenues Three Months Ended Nine Months Ended (In thousands) September 29, September 30, September 29, September 30, Engineering and Other Scientific $ 110,857 $ 107,403 $ 344,552 $ 321,168 Environmental and Health 22,479 19,776 69,314 64,770 Total revenues $ 133,336 $ 127,179 $ 413,866 $ 385,938 Operating Income Three Months Ended Nine Months Ended (In thousands) September 29, September 30, September 29, September 30, Engineering and Other Scientific $ 38,734 $ 39,385 $ 121,064 $ 117,907 Environmental and Health 7,475 6,378 22,550 21,059 Total segment operating income 46,209 45,763 143,614 138,966 Corporate operating expense ( 12,276 ) ( 8,950 ) ( 50,686 ) ( 20,159 ) Total operating income $ 33,933 $ 36,813 $ 92,928 $ 118,807 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 29, September 30, September 29, September 30, Engineering and Other Scientific $ 541 $ 870 $ 3,210 $ 3,050 Environmental and Health 25 48 139 104 Total segment capital expenditures 566 918 3,349 3,154 Corporate capital expenditures 1,248 1,172 13,893 6,387 Total capital expenditures $ 1,814 $ 2,090 $ 17,242 $ 9,541 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 29, September 30, September 29, September 30, Engineering and Other Scientific $ 1,750 $ 1,108 $ 4,428 $ 3,301 Environmental and Health 53 41 155 124 Total segment depreciation and 1,803 1,149 4,583 3,425 Corporate depreciation and amortization 558 574 1,952 1,799 Total depreciation and amortization $ 2,361 $ 1,723 $ 6,535 $ 5,224 No single client comprised more than 10 % of the Company’s revenues during the three and nine months ended September 29, 2023. One client comprised 16 % of the Company’s revenues during the three months ended September 30, 2022. The same client comprised 15 % of the Company's revenue during the nine months ended September 30, 2022.

Leases

Leases	9 Months Ended
Leases	Sep. 29, 2023
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 29, 2023. 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 29, 2023, 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 $ 882,000 and $ 739,000 was included in other income for the three months ended September 29, 2023 and September 30, 2022, respectively. Rental income of $ 2,491,000 and $ 2,157,000 was included in other income for the nine months ended September 29, 2023 and September 30, 2022, 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 29, September 30, September 29, September 30, Operating lease cost $ 2,094 $ 1,681 $ 5,659 $ 5,247 Variable lease cost 378 274 1,251 913 Short-term lease cost 256 194 937 425 Supplemental cash flow information related to operating leases was as follows: Three Months Ended Nine Months Ended (In thousands) September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Cash paid for amounts included in the $ 1,715 $ 1,518 $ 5,516 $ 5,083 Supplemental balance sheet information related to operating leases was as follows: September 29, December 30, Weighted Average Remaining Lease Term 6.4 years 4.1 years Weighted Average Discount Rate 5.1 % 4.3 % Maturities of operating lease liabilities as of September 29, 2023: Operating (In thousands) Leases 2023 (excluding the nine months ended September 29, 2023) 1,699 2024 6,669 2025 5,763 2026 4,945 2027 4,336 2028 1,860 Thereafter 8,099 Total lease payments $ 33,371 Less imputed interest ( 5,707 ) Total lease liability $ 27,664

Contingencies

Contingencies	9 Months Ended
Contingencies	Sep. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 11: Contingencies During the second quarter of 2023, a client requested a concession in the amount of $ 2 million related to the Company’s performance on a project. The Company disagrees with the basis for this request for concession and has responded to the client as such. At this time the Company is unable to determine the outcome of this issue, but management believes that it is probable that this matter will not have a material adverse effect on the Company’s business or the condensed consolidated financial statements. 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. 29, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 12: Subsequent Events On October 26, 2023 , the Company’s Board of Directors announced a cash dividend of $ 0.26 per share of the Company’s common stock, payable December 22, 2023 , to stockholders of record as of December 8, 2023 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 29, 2023
Accounting Policies [Abstract]
Basis of Presentation	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 29, 2023 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 30, 2022, which was filed with the U.S. Securities and Exchange Commission on February 24, 2023. The unaudited condensed consolidated financial statements include the accounts of Exponent 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. 29, 2023
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 29, September 30, September 29, September 30, Engineering & Other Scientific 61 % 64 % 63 % 63 % Environmental and Health 15 % 14 % 15 % 16 % Total time and materials revenues 76 % 78 % 78 % 79 % The following table discloses the percentage of the Company’s revenue generated from fixed price contracts: Three Months Ended Nine Months Ended September 29, September 30, September 29, September 30, Engineering & Other Scientific 23 % 21 % 20 % 20 % Environmental and Health 1 % 1 % 2 % 1 % Total fixed price revenues 24 % 22 % 22 % 21 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 29, 2023
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 29, 2023: Fair Value Measurements at Reporting Date Using (In thousands) Total Quoted Prices in Significant Other Significant Assets Money market securities (1) $ 53,978 $ 53,978 $ - $ - Fixed income trading securities held in deferred (2) 33,928 33,928 - - Equity trading securities held in deferred compensation (2) 71,921 71,921 - - Total $ 159,827 $ 159,827 $ - $ - Liabilities Deferred compensation plan (3) 107,223 107,223 - - Total $ 107,223 $ 107,223 $ - $ - (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 30, 2022: Fair Value Measurements at Reporting Date Using (In thousands) Total Quoted Prices in Significant Other Significant Assets Money market securities (1) $ 52,159 $ 52,159 $ - $ - Fixed income trading securities held in deferred (2) 32,851 32,851 - - Equity trading securities held in deferred compensation (2) 67,880 67,880 - - Total $ 152,890 $ 152,890 $ - $ - Liabilities Deferred compensation plan (3) 101,354 101,354 - - Total $ 101,354 $ 101,354 $ - $ - (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 29, 2023: Gross Gross Amortized Unrealized Unrealized Estimated (In thousands) Cost Gains Losses Fair Value Classified as current assets: Cash $ 83,121 $ - $ - $ 83,121 Cash equivalents: Money market securities 53,978 - - 53,978 Total cash equivalents 53,978 - - 53,978 Total cash and cash equivalents 137,099 - - 137,099 Cash and cash equivalents consisted of the following as of December 30, 2022: Amortized Unrealized Unrealized Estimated (In thousands) Cost Gains Losses Fair Value Classified as current assets: Cash $ 109,299 $ - $ - $ 109,299 Cash equivalents: Money market securities 52,159 - - 52,159 Total cash equivalents 52,159 - - 52,159 Total cash and cash equivalents $ 161,458 $ - $ - $ 161,458

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
Net Income Per Share (Tables)	Sep. 29, 2023
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 29, September 30, September 29, September 30, Shares used in basic per share computation 51,203 51,492 51,197 51,934 Effect of dilutive common stock options 183 202 195 202 Effect of dilutive restricted stock units 259 314 288 353 Shares used in diluted per share 51,645 52,008 51,680 52,489

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
Supplemental Cash Flow Information (Tables)	Sep. 29, 2023
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 29, September 30, Cash paid during period: Income taxes $ 27,753 $ 24,349 Non-cash investing and financing activities: Vested stock unit awards issued to settle accrued bonuses 10,497 10,200 Right-of-use asset obtained in exchange for operating lease obligations 13,803 8,090 Leasehold improvements obtained in exchange for right-of-use asset 3,219 - Accrual for capital expenditures as of period end 618 846

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	9 Months Ended
Accounts Receivable, Net (Tables)	Sep. 29, 2023
Receivables [Abstract]
Accounts Receivable, Net	At September 29, 2023 and December 30, 2022, accounts receivable, net, was comprised of the following: September 29, December 30, (In thousands) 2023 2022 Billed accounts receivable $ 135,076 $ 120,212 Unbilled accounts receivable 53,078 56,095 Allowance for contract losses and doubtful accounts ( 6,400 ) ( 6,193 ) Total accounts receivable, net $ 181,754 $ 170,114
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 30, 2022 $ 6,193 Provision for contract losses and doubtful accounts 1,911 Write-offs ( 1,704 ) Balance at September 29, 2023 $ 6,400

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
Segment Reporting (Tables)	Sep. 29, 2023
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	Segment information for the three and nine months ended September 29, 2023 and September 30, 2022 follows: Revenues Three Months Ended Nine Months Ended (In thousands) September 29, September 30, September 29, September 30, Engineering and Other Scientific $ 110,857 $ 107,403 $ 344,552 $ 321,168 Environmental and Health 22,479 19,776 69,314 64,770 Total revenues $ 133,336 $ 127,179 $ 413,866 $ 385,938 Operating Income Three Months Ended Nine Months Ended (In thousands) September 29, September 30, September 29, September 30, Engineering and Other Scientific $ 38,734 $ 39,385 $ 121,064 $ 117,907 Environmental and Health 7,475 6,378 22,550 21,059 Total segment operating income 46,209 45,763 143,614 138,966 Corporate operating expense ( 12,276 ) ( 8,950 ) ( 50,686 ) ( 20,159 ) Total operating income $ 33,933 $ 36,813 $ 92,928 $ 118,807 Capital Expenditures Three Months Ended Nine Months Ended (In thousands) September 29, September 30, September 29, September 30, Engineering and Other Scientific $ 541 $ 870 $ 3,210 $ 3,050 Environmental and Health 25 48 139 104 Total segment capital expenditures 566 918 3,349 3,154 Corporate capital expenditures 1,248 1,172 13,893 6,387 Total capital expenditures $ 1,814 $ 2,090 $ 17,242 $ 9,541 Depreciation and Amortization Three Months Ended Nine Months Ended (In thousands) September 29, September 30, September 29, September 30, Engineering and Other Scientific $ 1,750 $ 1,108 $ 4,428 $ 3,301 Environmental and Health 53 41 155 124 Total segment depreciation and 1,803 1,149 4,583 3,425 Corporate depreciation and amortization 558 574 1,952 1,799 Total depreciation and amortization $ 2,361 $ 1,723 $ 6,535 $ 5,224

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 29, 2023
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 29, September 30, September 29, September 30, Operating lease cost $ 2,094 $ 1,681 $ 5,659 $ 5,247 Variable lease cost 378 274 1,251 913 Short-term lease cost 256 194 937 425
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 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Cash paid for amounts included in the $ 1,715 $ 1,518 $ 5,516 $ 5,083
Supplemental Balance Sheet Information Related to Operating Lease	Supplemental balance sheet information related to operating leases was as follows: September 29, December 30, Weighted Average Remaining Lease Term 6.4 years 4.1 years Weighted Average Discount Rate 5.1 % 4.3 %
Maturities of Lease Liabilities	Maturities of operating lease liabilities as of September 29, 2023: Operating (In thousands) Leases 2023 (excluding the nine months ended September 29, 2023) 1,699 2024 6,669 2025 5,763 2026 4,945 2027 4,336 2028 1,860 Thereafter 8,099 Total lease payments $ 33,371 Less imputed interest ( 5,707 ) Total lease liability $ 27,664

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. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Time And Materials Contracts [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	76%	78%	78%	79%
Time And Materials Contracts [Member] \| Engineering and Other Scientific [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	61%	64%	63%	63%
Time And Materials Contracts [Member] \| Environmental and Health [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	15%	14%	15%	16%
Fixed Price Contracts [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	24%	22%	22%	21%
Fixed Price Contracts [Member] \| Engineering and Other Scientific [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	23%	21%	20%	20%
Fixed Price Contracts [Member] \| Environmental and Health [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	1%	1%	2%	1%

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Revenue Recognition [Abstract]
Deferred Revenue, Revenue Recognized	$ 4,045,000		$ 13,393,000
Subcontractor Fees Not Included In Revenues	$ 2,379,000	$ 6,996,000	$ 10,727,000	$ 18,040,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)	Sep. 29, 2023		Dec. 30, 2022
Assets
Trading securities held in deferred compensation plan	$ 105,849,000		$ 100,731,000
Total	159,827,000		152,890,000
Liabilities
Deferred compensation plan	107,223,000	[1]	101,354,000	[2]
Total	107,223,000		101,354,000
Money market securities
Assets
Money market securities	53,978,000	[3]	52,159,000	[4]
Fixed income securities
Assets
Trading securities held in deferred compensation plan	33,928,000	[5]	32,851,000	[6]
Equity securities
Assets
Trading securities held in deferred compensation plan	71,921,000	[5]	67,880,000	[6]
Fair Value, Inputs, Level 1
Assets
Total	159,827,000		152,890,000
Liabilities
Deferred compensation plan	107,223,000	[1]	101,354,000	[2]
Total	107,223,000		101,354,000
Fair Value, Inputs, Level 1 \| Money market securities
Assets
Money market securities	53,978,000	[3]	52,159,000	[4]
Fair Value, Inputs, Level 1 \| Fixed income securities
Assets
Trading securities held in deferred compensation plan	33,928,000	[5]	32,851,000	[6]
Fair Value, Inputs, Level 1 \| Equity securities
Assets
Trading securities held in deferred compensation plan	71,921,000	[5]	67,880,000	[6]
Fair Value, Inputs, Level 2
Assets
Total	0		0
Liabilities
Deferred compensation plan	0	[1]	0	[2]
Total	0		0
Fair Value, Inputs, Level 2 \| Money market securities
Assets
Money market securities	0	[3]	0	[4]
Fair Value, Inputs, Level 2 \| Fixed income securities
Assets
Trading securities held in deferred compensation plan	0	[5]	0	[6]
Fair Value, Inputs, Level 2 \| Equity securities
Assets
Trading securities held in deferred compensation plan	0	[5]	0	[6]
Fair Value, Inputs, Level 3
Assets
Total	0		0
Liabilities
Deferred compensation plan	0	[1]	0	[2]
Total	0		0
Fair Value, Inputs, Level 3 \| Money market securities
Assets
Money market securities	0	[3]	0	[4]
Fair Value, Inputs, Level 3 \| Fixed income securities
Assets
Trading securities held in deferred compensation plan	0	[5]	0	[6]
Fair Value, Inputs, Level 3 \| Equity securities
Assets
Trading securities held in deferred compensation plan	$ 0	[5]	$ 0	[6]

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

Fair Value Measurements - Cash

Fair Value Measurements - Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 30, 2022
Cash
Fair Value Measurements [Line Items]
Amortized Cost	$ 83,121	$ 109,299
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	83,121	109,299
Money market securities
Fair Value Measurements [Line Items]
Amortized Cost	53,978	52,159
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	53,978	52,159
Total cash equivalents
Fair Value Measurements [Line Items]
Amortized Cost	53,978	52,159
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	53,978	52,159
Total cash and cash equivalents
Fair Value Measurements [Line Items]
Amortized Cost	137,099	161,458
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 137,099	$ 161,458

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. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Schedule Of Earnings Per Share Basic and Diluted [Line Items]
Shares used in basic per share computation	51,203	51,492	51,197	51,934
Shares used in diluted per share computation	51,645	52,008	51,680	52,489
Employee Stock Option
Schedule Of Earnings Per Share Basic and Diluted [Line Items]
Effect of dilutive stock outstanding	183	202	195	202
Restricted Stock Units (RSUs)
Schedule Of Earnings Per Share Basic and Diluted [Line Items]
Effect of dilutive stock outstanding	259	314	288	353

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	63,333	0	24,835	0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
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	$ 2,583,000	$ 2,606,000	$ 8,242,000	$ 8,133,000
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	2,038,000	1,787,000	$ 8,124,000	7,315,000
Unvested Restricted Stock Awards \| Minimum [Member]
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	$ 270,000	$ 212,000	$ 811,000	$ 623,000
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 [Member]
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. 29, 2023		Sep. 30, 2022	Sep. 29, 2023		Sep. 30, 2022	Dec. 30, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Trading securities held in deferred compensation plan	$ 105,849,000			$ 105,849,000			$ 100,731,000
Deferred compensation plan	107,223,000	[1]		107,223,000	[1]		$ 101,354,000	[2]
Change in market value of trust assets	$ (2,769,000)		$ (4,925,000)	$ 5,271,000		$ (20,884,000)
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. 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. 29, 2023	Sep. 30, 2022
Cash paid during period:
Income taxes	$ 27,753	$ 24,349
Non-cash investing and financing activities:
Vested stock unit awards issued to settle accrued bonuses	10,497	10,200
Right-of-use asset obtained in exchange for operating lease obligations	13,803	8,090
Leasehold improvements obtained in exchange for right-of-use asset	3,219
Accrual for capital expenditures as of period end	$ 618	$ 846

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Detail) - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 30, 2022
Accounts Notes And Loans Receivable [Line Items]
Allowance for contract losses and doubtful accounts	$ (6,400)	$ (6,193)
Total accounts receivable, net	181,754	170,114
Billed accounts receivable
Accounts Notes And Loans Receivable [Line Items]
Accounts Receivable	135,076	120,212
Unbilled accounts receivable
Accounts Notes And Loans Receivable [Line Items]
Accounts Receivable	$ 53,078	$ 56,095

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. 29, 2023	Sep. 30, 2022
Receivables [Abstract]
Balance at December 30, 2022	$ 6,193
Provision for contract losses and doubtful accounts	1,911	$ 2,112
Write-offs	(1,704)
Balance at September 29, 2023	$ 6,400

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Detail) - USD ($) $ in Thousands	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 133,336	$ 127,179	$ 413,866	$ 385,938
Operating Income	33,933	36,813	92,928	118,807
Capital Expenditures	1,814	2,090	17,242	9,541
Depreciation and Amortization	2,361	1,723	6,535	5,224
Operating segments
Segment Reporting Information [Line Items]
Operating Income	46,209	45,763	143,614	138,966
Capital Expenditures	566	918	3,349	3,154
Depreciation and Amortization	1,803	1,149	4,583	3,425
Corporate
Segment Reporting Information [Line Items]
Operating Income	(12,276)	(8,950)	(50,686)	(20,159)
Capital Expenditures	1,248	1,172	13,893	6,387
Depreciation and Amortization	558	574	1,952	1,799
Engineering and Other Scientific \| Operating segments
Segment Reporting Information [Line Items]
Revenues	110,857	107,403	344,552	321,168
Operating Income	38,734	39,385	121,064	117,907
Capital Expenditures	541	870	3,210	3,050
Depreciation and Amortization	1,750	1,108	4,428	3,301
Environmental and Health \| Operating segments
Segment Reporting Information [Line Items]
Revenues	22,479	19,776	69,314	64,770
Operating Income	7,475	6,378	22,550	21,059
Capital Expenditures	25	48	139	104
Depreciation and Amortization	$ 53	$ 41	$ 155	$ 124

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	3 Months Ended		9 Months Ended
Segment Reporting - Additional Information (Detail)	Sep. 29, 2023 Client	Sep. 30, 2022 Client	Sep. 29, 2023 Client Segment	Sep. 30, 2022 Client
Segment Reporting Information [Line Items]
Number of reportable operating segments \| Segment			2
Number of clients comprised more than 10% of revenue or accounts receivable	0		0
Sales Revenue, Net [Member] \| Revenue from Rights Concentration Risk [Member] \| Minimum [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	10%		10%
Sales Revenue, Net [Member] \| Revenue from Rights Concentration Risk [Member] \| Single Client [Member]
Segment Reporting Information [Line Items]
Number of clients comprised more than 10% of revenue or accounts receivable		1		1
Concentration Risk, Percentage		16%		15%

Leases - Additional Information

Leases - Additional Information (Detail)	3 Months Ended		9 Months Ended
Leases - Additional Information (Detail)	Sep. 29, 2023 USD ($) a Option State	Sep. 30, 2022 USD ($)	Sep. 29, 2023 USD ($) a Option State	Sep. 30, 2022 USD ($)
Other Income [Member]
Lessee Lease Description [Line Items]
Rental Income \| $	$ 882,000	$ 739,000	$ 2,491,000	$ 2,157,000
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 [Member]
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 (Detail) - Other Operating Income (Expense) [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Operating lease cost	$ 2,094	$ 1,681	$ 5,659	$ 5,247
Variable lease cost	378	274	1,251	913
Short-term lease cost	$ 256	$ 194	$ 937	$ 425

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information Related to Operating Leases (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 1,715	$ 1,518	$ 5,516	$ 5,083

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information Related to Operating Leases (Detail)	Sep. 29, 2023	Dec. 30, 2022
Leases [Abstract]
Weighted Average Remaining Lease Term	6 years 4 months 24 days	4 years 1 month 6 days
Weighted Average Discount Rate	5.10%	4.30%

Maturities of Lease Liabilities

Maturities of Lease Liabilities (Detail) $ in Thousands	Sep. 29, 2023 USD ($)
Leases [Abstract]
2023 (excluding the nine months ended September 29, 2023)	$ 1,699
2024	6,669
2025	5,763
2026	4,945
2027	4,336
2028	1,860
Thereafter	8,099
Total lease payments	33,371
Less imputed interest	(5,707)
Total lease liability	$ 27,664

Contingencies - Additional Info

Contingencies - Additional Information (Details) $ in Millions	3 Months Ended
	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Concession amount	$ 2

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares		3 Months Ended		9 Months Ended
	Oct. 26, 2023	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)		$ 0.26	$ 0.24	$ 0.78	$ 0.72
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)	$ 0.26
Dividends Payable, Date Declared	Oct. 26, 2023
Dividends Payable, Date to be Paid	Dec. 22, 2023
Dividends Payable, Date of Record	Dec. 08, 2023