CRA International (CRAI) 10-Q 4 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 04, 2015	Jul. 30, 2015
Document and Entity Information
Entity Registrant Name	CRA INTERNATIONAL, INC.
Entity Central Index Key	1,053,706
Document Type	10-Q
Document Period End Date	Jul. 4, 2015
Amendment Flag	false
Current Fiscal Year End Date	--01-02
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		9,069,586
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Income S

Condensed Consolidated Income Statements - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Condensed Consolidated Income Statements
Revenues	$ 76,535	$ 78,184	$ 154,574	$ 154,429
Costs of services	50,675	52,669	104,494	104,535
Gross profit	25,860	25,515	50,080	49,894
Selling, general and administrative expenses	18,667	17,463	36,750	34,623
Depreciation and amortization	1,545	1,559	3,206	3,149
Income from operations	5,648	6,493	10,124	12,122
Interest income	11	39	28	78
Interest expense	(149)	(127)	(291)	(291)
Gain on extinguishment of debt			606
Other expense, net	(119)	(71)	(445)	(191)
Income before provision for income taxes	5,391	6,334	10,022	11,718
Provision for income taxes	(2,189)	(3,167)	(3,921)	(5,243)
Net income	3,202	3,167	6,101	6,475
Net loss attributable to noncontrolling interest, net of tax	123	21	3	123
Net income attributable to CRA International, Inc.	$ 3,325	$ 3,188	$ 6,104	$ 6,598
Net income per share attributable to CRA International, Inc.:
Basic (in dollars per share)	$ 0.37	$ 0.32	$ 0.66	$ 0.66
Diluted (in dollars per share)	$ 0.36	$ 0.32	$ 0.65	$ 0.66
Weighted average number of shares outstanding:
Basic (in shares)	9,034	9,919	9,112	9,974
Diluted (in shares)	9,253	10,026	9,328	10,067

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 3,202	$ 3,167	$ 6,101	$ 6,475
Other comprehensive income (loss):
Foreign currency translation adjustments	1,556	706	(706)	869
Comprehensive income	4,758	3,873	5,395	7,344
Less: comprehensive loss attributable to noncontrolling interest	123	21	3	123
Comprehensive income attributable to CRA International, Inc.	$ 4,881	$ 3,894	$ 5,398	$ 7,467

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Current assets:
Cash and cash equivalents	$ 15,816	$ 48,199
Accounts receivable, net of allowances of $4,692 at July 4, 2015 and $4,177 at January 3, 2015	57,902	58,080
Unbilled services, net of allowances of $2,372 at July 4, 2015 and at $2,233 at January 3, 2015	29,622	25,085
Prepaid expenses and other current assets	18,817	13,165
Deferred income taxes	21,363	20,638
Total current assets	143,520	165,167
Property and equipment, net	23,509	14,696
Goodwill	82,294	82,303
Intangible assets, net of accumulated amortization of $10,170 at July 4, 2015 and $9,584 at January 3, 2015	4,089	4,757
Deferred income taxes, net of current portion	171	174
Other assets	42,804	47,915
Total assets	296,387	315,012
Current liabilities:
Accounts payable	13,123	13,700
Accrued expenses	44,978	66,548
Deferred revenue and other liabilities	5,415	6,220
Deferred income taxes	121	121
Current portion of deferred rent	991	1,623
Current portion of deferred compensation	797	182
Current portion of notes payable	75
Total current liabilities	65,500	88,394
Notes payable, net of current portion		981
Deferred rent and facility-related non-current liabilities	8,730	4,535
Deferred compensation and other non-current liabilities	3,110	3,371
Deferred income taxes, net of current portion	$ 3,981	$ 3,027
Commitments and contingencies
Shareholders' equity:
Preferred stock, no par value; 1,000,000 shares authorized; none issued and outstanding
Common stock, no par value; 25,000,000 shares authorized; 8,992,221 shares and 9,228,272 shares issued and outstanding at July 4, 2015 and January 3, 2015, respectively	$ 68,126	$ 73,171
Retained earnings	153,722	147,618
Accumulated other comprehensive loss	(7,410)	(6,704)
Total CRA International, Inc. shareholders' equity	214,438	214,085
Noncontrolling interest	628	619
Total shareholders' equity	215,066	214,704
Total liabilities and shareholders' equity	$ 296,387	$ 315,012

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Condensed Consolidated Balance Sheets
Accounts receivable, net of allowances (in dollars)	$ 4,692	$ 4,177
Allowance for unbilled services (in dollars)	2,372	2,233
Intangible assets, net of accumulated amortization (in dollars)	$ 10,170	$ 9,584
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value ( in dollars per share )	$ 0	$ 0
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	8,992,221	9,228,272
Common stock, shares outstanding	8,992,221	9,228,272

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014
Operating activities:
Net income	$ 6,101	$ 6,475
Adjustments to reconcile net income to net cash used in operating activities, net of effect of acquired businesses:
Depreciation and amortization	3,231	3,138
Loss on disposal of property and equipment	16	9
Deferred rent	3,564	(1,455)
Deferred income taxes	31	871
Share-based compensation expenses	2,998	2,616
Excess tax benefits on share-based compensation	(87)
Gain on extinguishment of debt	(606)
Accounts receivable allowances	530	(1,411)
Changes in operating assets and liabilities:
Accounts receivable	(694)	(5,087)
Unbilled services	(4,534)	(3,534)
Prepaid expenses and other current asset, and other assets	(1,524)	1,722
Accounts payable, accrued expenses, and other liabilities	(25,590)	(18,514)
Net cash used in operating activities	(16,564)	(15,170)
Investing activities:
Consideration paid for acquisitions, net		(1,537)
Purchase of property and equipment	(8,492)	(1,358)
Collections on notes receivable	1,560
Payments on notes receivable	(40)	14
Net cash used in investing activities	(6,972)	(2,881)
Financing activities:
Issuance of common stock, principally stock option exercises	105
Payments on notes payable	(300)	(26)
Borrowings under line of credit	4,000
Repayments under line of credit	(4,000)
Tax withholding payments reimbursed by restricted shares	(111)	(143)
Excess tax benefits from share-based compensation	87
Repurchase of common stock	(7,968)	(5,355)
Net cash used in financing activities	(8,187)	(5,524)
Effect of foreign exchange rates on cash and cash equivalents	(660)	(62)
Net decrease in cash and cash equivalents	(32,383)	(23,637)
Cash and cash equivalents at beginning of period	48,199	51,251
Cash and cash equivalents at end of period	15,816	27,614
Noncash investing and financing activities:
Issuance of common stock for acquired business	42	427
Purchases of property and equipment not yet paid for	2,998
Supplemental cash flow information:
Cash paid for income taxes	5,000	8,600
Cash paid for interest	$ 162	$ 189

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Shareholders' Equity - 6 months ended Jul. 04, 2015 - USD ($) $ in Thousands	CRA International, Inc. Shareholders' Equity	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest	Total
BALANCE at Jan. 03, 2015	$ 214,085	$ 73,171	$ 147,618	$ (6,704)	$ 619	$ 214,704
BALANCE (in shares) at Jan. 03, 2015		9,228,272				9,228,272
Increase (Decrease) in Shareholders' Equity
Net income (loss)	6,104		6,104		(3)	$ 6,101
Foreign currency translation adjustment	(706)			(706)		(706)
Issuance of common stock in connection with business acquisition	42	$ 42				42
Issuance of common stock in connection with business acquisition (in shares)		1,359
Exercise of stock options	105	$ 105				105
Exercise of stock options (in shares)		4,892
Share-based compensation expense for employees	2,962	$ 2,962				2,962
Share-based compensation expense for non-employees	36	$ 36				36
Restricted share vesting (in shares)		25,171
Redemption of vested employee restricted shares for tax withholding	(111)	$ (111)				(111)
Redemption of vested employee restricted shares for tax withholding (in shares)		(3,673)
Tax deficit on stock options and restricted shares vesting	(111)	$ (111)				(111)
Shares repurchased	(7,968)	$ (7,968)				$ (7,968)
Shares repurchased (in shares)		(263,800)				(263,800)
Equity transactions of noncontrolling interest					12	$ 12
BALANCE at Jul. 04, 2015	$ 214,438	$ 68,126	$ 153,722	$ (7,410)	$ 628	$ 215,066
BALANCE (in shares) at Jul. 04, 2015		8,992,221				8,992,221

Description of Business

Description of Business	6 Months Ended
	Jul. 04, 2015
Description of Business
Description of Business	1. Description of Business CRA International, Inc. ("CRA") is a worldwide leading consulting services firm that applies advanced analytic techniques and in-depth industry knowledge to complex engagements for a broad range of clients. CRA offers its services in two broad areas: litigation, regulatory and financial consulting and management consulting. CRA operates in one business segment, which is consulting services. CRA operates its business under its registered trade name, Charles River Associates.

Unaudited Interim Condensed Con

Unaudited Interim Condensed Consolidated Financial Statements and Estimates	6 Months Ended
	Jul. 04, 2015
Unaudited Interim Condensed Consolidated Financial Statements and Estimates
Unaudited Interim Condensed Consolidated Financial Statements and Estimates	2. Unaudited Interim Condensed Consolidated Financial Statements and Estimates The following financial statements included in this report are unaudited: the condensed consolidated income statements for the fiscal quarters and year to date periods ended July 4, 2015 and June 28, 2014, the condensed consolidated statements of comprehensive income for the fiscal quarters and year to date periods ended July 4, 2015 and June 28, 2014, the condensed consolidated balance sheet as of July 4, 2015, the condensed consolidated statements of cash flows for the fiscal year to date periods ended July 4, 2015 and June 28, 2014, and the condensed consolidated statement of shareholders' equity for the fiscal year to date period ended July 4, 2015. In the opinion of management, these statements include all adjustments necessary for a fair presentation of CRA's consolidated financial position, results of operations, and cash flows. The condensed consolidated balance sheet as of January 3, 2015 included in this report was derived from audited consolidated financial statements included in CRA's Annual Report on Form 10-K that was filed on March 17, 2015. The preparation of financial statements in conformity with generally accepted accounting principles in the U.S. ("U.S. GAAP") requires management to make significant estimates and judgments that affect the reported amounts of assets and liabilities, as well as the related disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Estimates in these consolidated financial statements include, but are not limited to, allowances for accounts receivable and unbilled services, revenue recognition on fixed price contracts, depreciation of property and equipment, share-based compensation, valuation of acquired intangible assets, impairment of long lived assets, goodwill, accrued and deferred income taxes, valuation allowances on deferred tax assets, accrued compensation, accrued exit costs, and other accrued expenses. These items are monitored and analyzed by CRA for changes in facts and circumstances, and material changes in these estimates could occur in the future. Changes in estimates are recorded in the period in which they become known. CRA bases its estimates on historical experience and various other assumptions that CRA believes to be reasonable under the circumstances. Actual results may differ from those estimates if CRA's assumptions based on past experience or other assumptions do not turn out to be substantially accurate.

Principles of Consolidation

Principles of Consolidation	6 Months Ended
	Jul. 04, 2015
Principles of Consolidation
Principles of Consolidation	3. Principles of Consolidation The condensed consolidated financial statements include the accounts of CRA and its wholly owned subsidiaries. In addition, the condensed consolidated financial statements include CRA's interest in NeuCo, Inc. ("NeuCo"). All significant intercompany accounts have been eliminated. CRA's ownership interest in NeuCo was 55.89% for all periods presented. NeuCo's financial results have been consolidated with CRA, and the portion of NeuCo's results allocable to its other owners is shown as "noncontrolling interest." NeuCo's interim reporting schedule is based on calendar month-ends, but its fiscal year end is the last Saturday of November. CRA's quarterly results could include a few days reporting lag between CRA's quarter end and the most recent financial statements available from NeuCo. CRA does not believe that the reporting lag will have a significant impact on CRA's consolidated income statements or financial condition. On January 8, 2015, NeuCo entered into an agreement to settle a note payable of approximately $981,000 in exchange for aggregate payments of $375,000. NeuCo recorded a gain on the extinguishment of this debt in the first quarter of fiscal 2015 of approximately $606,000. Under the settlement order, the scheduled payments are as follows: $150,000 on January 8, 2015, $150,000 on February 28, 2015, and $75,000 on February 29, 2016. NeuCo made the first two scheduled payments during the first quarter of fiscal 2015. In case of default, the original amount would become due.

Recent Accounting Standards

Recent Accounting Standards	6 Months Ended
	Jul. 04, 2015
Recent Accounting Standards
Recent Accounting Standards	4. Recent Accounting Standards Technical Corrections and Improvements In June 2015, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2015-10, Technical Corrections and Improvements ("ASU 2015-10"), which amends a number of Topics in the FASB Accounting Standards Codification. ASU 2015-10 is part of an ongoing project on the FASB's agenda to facilitate Codification updates for non-substantive technical corrections, clarifications, and improvements that are not expected to have a significant effect on accounting practice or create a significant administrative cost to most entities. The amendments that require transition guidance are effective for all entities for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments were effective on issuance. CRA believes that the adoption of ASU 2015-10 will not have a material impact on its financial position, results of operations, cash flows, or disclosures. Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). The main provision of ASU 2014-09 is to recognize revenue when control of the goods or services transfers to the customer, as opposed to the existing guidance of recognizing revenue when the risks and rewards transfer to the customer. On July 9, 2015, the FASB decided to delay the effective date of ASU 2014-09. The deferral results in ASU 2014-09 being effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted for interim and annual periods beginning after December 15, 2016. The guidance may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. CRA has not yet determined the effects, if any, that the adoption of ASU 2014-09 may have on its financial position, results of operations, cash flows, or disclosures. Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU No. 2015-03, Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for the first interim period for fiscal years beginning after December 15, 2015. CRA believes that the adoption of ASU 2015-03 will not have a material impact on its financial position, results of operations, cash flows, or disclosures. Reporting of Going-Concern Uncertainties In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). ASU 2014-15 is intended to define management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and provides guidance to an organization's management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures in the financial statement footnotes. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. CRA believes that the adoption of ASU 2014-15 will not have a material impact on its financial position, results of operations, cash flows, or disclosures. Accounting for Share-Based Payments In June 2014, the FASB issued ASU No. 2014-12, Accounting f or Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force) ("ASU 2014-12"). ASU 2014-12 clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity's satisfaction of a performance target until it becomes probable that the performance target will be met. There are no new disclosures required under ASU 2014-12. ASU 2014- 12 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. CRA believes that the adoption of ASU 2014-12 will not have a material impact on its financial position, results of operations, cash flows, or disclosures.

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Jul. 04, 2015
Cash and Cash Equivalents
Cash and Cash Equivalents	5. Cash and Cash Equivalents Cash equivalents consist principally of money market funds with maturities of three months or less when purchased. As of July 4, 2015, a substantial portion of CRA's cash accounts was concentrated at a single financial institution, which potentially exposes CRA to credit risks. The financial institution has a short-term credit rating of A-2 by Standard & Poor's ratings services. CRA has not experienced any losses related to such accounts. CRA does not believe that there is significant risk of non-performance by the financial institution, and the cash on deposit is fully liquid. CRA continually monitors the credit ratings of this institution. The carrying amounts of these instruments classified as cash equivalents are stated at amortized cost, which approximates fair value because of their short-term maturity.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jul. 04, 2015
Fair Value of Financial Instruments
Fair Value of Financial Instruments	6. Fair Value of Financial Instruments Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurement), then priority to quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market (Level 2 measurement), then the lowest priority to unobservable inputs (Level 3 measurement). The following table shows CRA's financial instruments as of July 4, 2015 and January 3, 2015 that are measured and recorded in the financial statements at fair value on a recurring basis (in thousands): July 4, 2015 Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Unobservable Inputs Level 1 Level 2 Level 3 Assets: Money market funds $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Contingent acquisition liability $ — $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Liabilities $ — $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 3, 2015 Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Unobservable Inputs Level 1 Level 2 Level 3 Assets: Money market funds $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Contingent acquisition liability $ — $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Liabilities $ — $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The fair values of CRA's money market funds are based on quotes received from third-party banks. The contingent acquisition liability in the table above is for estimated future contingent consideration payments related to a prior acquisition. The fair value measure of this liability is based on significant inputs not observed in the market and thus represents a Level 3 measurement. The significant unobservable inputs used in the fair value measurements of this contingent acquisition liability are CRA's measures of the estimated payouts based on internally generated financial projections and discount rates. The fair value of the contingent acquisition liability is reassessed on a quarterly basis by CRA using additional information as it becomes available and any change in the fair value estimate is recorded in the earnings of that period. The increase in the contingent acquisition liability from $0.3 million at January 3, 2015 to $0.9 million as of July 4, 2015 was due to the improved financial performance of the acquired entity during the first half of fiscal 2015, which resulted in a charge of $0.8 million to costs of services during the first half of fiscal 2015. Payments of approximately $0.3 million were made during the first half of fiscal 2015.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets, and Other Assets	6 Months Ended
	Jul. 04, 2015
Prepaid Expenses and Other Current Assets, and Other Assets
Prepaid Expenses and Other Current Assets, and Other Assets	7. Prepaid Expenses and Other Current Assets, and Other Assets In order to attract and retain highly skilled professionals, CRA may issue forgivable loans or term loans to employees and non-employee experts, which are classified in "prepaid expenses and other current assets" and "other assets" on the accompanying balance sheets as of July 4, 2015 and January 3, 2015. A portion of these loans is collateralized. The forgivable loans have terms that are generally between three and eight years. The principal amount of forgivable loans and accrued interest is forgiven by CRA over the term of the loans, so long as the employee or non-employee expert continues employment or affiliation with CRA and complies with certain contractual requirements. The expense associated with the forgiveness of the principal amount of the loans is recorded as compensation expense over the service period, which is consistent with the term of the loans. During the first half of fiscal 2015, CRA issued approximately $6.3 million in forgivable loans to employees and non-employee experts for future service. Other assets consist of the following (in thousands): July 4, 2015 January 3, 2015 Forgivable loans to employees and non-employee experts $ $ Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Goodwill

Goodwill	6 Months Ended
	Jul. 04, 2015
Goodwill
Goodwill	8. Goodwill In accordance with ASC Topic 350, Intangibles—Goodwill and Other, goodwill is not subject to amortization, but is monitored at least annually for impairment, or more frequently, as necessary, if events or circumstances exist that would more likely than not reduce the fair value of the reporting unit below its carrying amount. For the CRA's goodwill impairment analysis, CRA operates under one reporting unit. Under ASC Topic 350, in performing the first step of the goodwill impairment testing and measurement process, CRA compares its entity-wide estimated fair value to net book value to identify potential impairment. Management estimates the entity-wide fair value utilizing CRA's market capitalization, plus an appropriate control premium. Market capitalization is determined by multiplying the shares outstanding on the test date by the market price of CRA's common stock on that date. CRA has utilized a control premium that considers appropriate industry, market and other pertinent factors, including indications of such premiums from data on recent acquisition transactions. If the estimated entity-wide fair value of CRA is less than its net book value, the second step is performed to determine if goodwill is impaired. If CRA determines through the impairment evaluation process that goodwill has been impaired, an impairment charge would be recorded in the consolidated income statements. There were no impairment losses related to goodwill during each of the fiscal year-to-date periods ended July 4, 2015 or June 28, 2014, as there were no events or circumstances that would more likely than not reduce CRA's fair value below its carrying amount. CRA continues to monitor its market capitalization. If CRA's market capitalization, plus an estimated control premium, is below its net book value for a period considered to be other-than-temporary, it is possible that CRA may be required to record an impairment of goodwill either as a result of the annual assessment that CRA conducts in the fourth quarter of each fiscal year, or in a future quarter if events or circumstances exist that would more likely than not reduce CRA's fair value below its carrying amount. A non-cash goodwill impairment charge would have the effect of decreasing CRA's earnings in such period. The changes in the carrying amount of goodwill during the fiscal year-to-date period ended July 4, 2015, are as follows (in thousands): Goodwill, gross Accumulated impairment losses Goodwill, net Balance at January 3, 2015 $ $ ) $ Effect of foreign currency translation ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at July 4, 2015 $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The changes in the carrying amount of goodwill during the fiscal year-to-date period ended June 28, 2014, are as follows (in thousands): Goodwill, gross Accumulated impairment losses Goodwill, net Balance at December 28, 2013 $ $ ) $ Goodwill adjustments related to acquisitions — Effect of foreign currency translation — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at June 28, 2014 $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jul. 04, 2015
Accrued Expenses.
Accrued Expenses	9. Accrued Expenses Accrued expenses consist of the following (in thousands): July 4, 2015 January 3, 2015 Compensation and related expenses $ $ Income taxes payable Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of July 4, 2015 and January 3, 2015, approximately $26.4 million and $49.2 million, respectively, of accrued bonuses were included above in "Compensation and related expenses".

Credit Agreement

Credit Agreement	6 Months Ended
	Jul. 04, 2015
Credit Agreement
Credit Agreement	10. Credit Agreement As of July 4, 2015, CRA is party to a credit agreement that provides CRA with a $125.0 million revolving credit facility and a $15 million sublimit for the issuance of letters of credit. CRA may use the proceeds of the revolving credit loans for working capital and other general corporate purposes. CRA may repay any borrowings under the revolving credit facility at any time, but no later than April 24, 2018. There was no amount outstanding under this revolving line of credit as of July 4, 2015. As of July 4, 2015, the amount available under this revolving line of credit was reduced by certain letters of credit outstanding, which amounted to $1.3 million. Borrowings under the revolving credit facility bear interest at a rate per annum at the election of CRA of either (i) the adjusted base rate, as defined in the credit agreement, plus an applicable margin, which varies between 0.50% and 1.50% depending on CRA's total leverage ratio as determined under the credit agreement, or (ii) the adjusted eurocurrency rate, as defined in the credit agreement, plus an applicable margin, which varies between 1.50% and 2.50% depending on CRA's total leverage ratio. CRA is required to pay a fee on the unused portion of the revolving credit facility at a rate per annum that varies between 0.25% and 0.375% depending on its total leverage ratio. Borrowings under the credit facility are secured by 100% of the stock of certain of CRA's U.S. subsidiaries and 65% of the stock of certain of its foreign subsidiaries, which represent approximately $6.2 million in net assets as of July 4, 2015. Under the credit agreement, CRA must comply with various financial and non-financial covenants. Compliance with these financial covenants is tested on a fiscal quarterly basis. Any indebtedness outstanding under the credit facility may become immediately due and payable upon the occurrence of stated events of default, including CRA's failure to pay principal, interest or fees or a violation of any financial covenant. The financial covenants require CRA to maintain an adjusted consolidated EBITDA to consolidated interest expense ratio of more than 2.5 to 1.0 and to comply with a consolidated debt to adjusted consolidated EBITDA ratio of not more than 3.0 to 1.0. The non-financial covenant restrictions of the credit agreement include, but are not limited to, CRA's ability to incur additional indebtedness, engage in acquisitions or dispositions, and enter into business combinations. As of July 4, 2015, CRA was in compliance with the covenants of the credit agreement.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jul. 04, 2015
Revenue Recognition
Revenue Recognition	11. Revenue Recognition CRA derives substantially all of its revenues from the performance of professional services. CRA's revenues include projects secured by our non-employee experts as well as projects secured by our employees. CRA recognizes all project revenue on a gross basis based on consideration of the criteria set forth in ASC Topic 605-45, Principal Agent Considerations . The contracts that CRA enters into and operates under specify whether the engagement will be billed on a time-and-materials or a fixed-price basis. Most of CRA's revenue is derived from time-and-materials service contracts. Revenues from time-and-materials service contracts are recognized as services are provided based upon hours worked and contractually agreed-upon hourly rates, as well as indirect fees based upon hours worked. Revenues from a majority of CRA's fixed-price engagements are recognized on a proportional performance method based on the ratio of costs incurred, substantially all of which are labor-related, to the total estimated project costs. In general, project costs are classified in costs of services and are based on the direct salary of the consultants on the engagement plus all direct expenses incurred to complete the engagement, including any amounts billed to CRA by its non-employee experts. Revenues also include reimbursable expenses, which include travel and other out-of-pocket expenses, outside consultants, and other reimbursable expenses. Reimbursable expenses are as follows (in thousands): Quarter Ended Fiscal Year to Date Period Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Reimbursable expenses $ $ $ $ CRA collects goods and services and value added taxes from customers and records these amounts on a net basis, which is within the scope of ASC Topic 605-45, Principal Agent Considerations.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jul. 04, 2015
Net Income Per Share
Net Income per Share	12. Net Income per Share Basic net income per share represents net income attributable to CRA International, Inc. divided by the weighted average shares of common stock outstanding during the period. Diluted net income per share represents net income divided by the weighted average shares of common stock and common stock equivalents, if applicable, outstanding during the period. Common stock equivalents arise from stock options, unvested shares of restricted stock and unvested restricted stock units, using the treasury stock method. Under the treasury stock method, the amount CRA would receive on the exercise of stock options and the vesting of shares of restricted stock and restricted stock units, the amount of compensation cost for future service that CRA has not yet recognized, and the amount of tax benefits that would be recorded in common stock when these stock options, shares of restricted stock and restricted stock units become deductible, are assumed to be used to repurchase shares at the average share price over the applicable fiscal period, and these repurchased shares are netted against the shares underlying these stock options and these unvested shares of restricted stock and restricted stock units. CRA's unvested shares of restricted stock that contain rights to receive non-forfeitable dividends are considered participating securities, but net earnings available to these participating securities were not significant for the second quarter. For the first half of fiscal 2015, the following is a reconciliation of the numerators and denominators used in the calculation of basic net income per share: Amount Shares Per Share Amount Net income attributable to CRA International, Inc. allocated to common shares $ Less: net income attributable to CRA International, Inc. allocated to unvested shares ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to CRA International, Inc. allocated to common shares $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ A reconciliation of basic to diluted weighted average shares of common stock outstanding is as follows (in thousands): Quarter Ended Fiscal Year to Date Period Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Basic weighted average shares outstanding Common stock equivalents: Stock options, restricted shares, and restricted stock units ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted weighted average shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the second quarter and fiscal year to date period ended July 4, 2015, the anti-dilutive share based awards that were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding amounted to 371,421 and 381,577 shares, respectively. For the second quarter and fiscal year-to-date period ended June 28, 2014, certain share-based awards, which amounted to 888,746 and 1,088,180 shares, respectively, were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding because they were anti-dilutive. These share-based awards were anti-dilutive because their exercise price exceeded the average market price over the respective period. On August 10, 2012, February 13, 2014, and October 23, 2014, CRA's Board of Directors authorized the repurchase of up to $5.0 million, $15.0 million, and $30.0 million, respectively, of CRA's common stock. CRA may repurchase shares under any of these programs in open market purchases (including under any Rule 10b5-1 plan adopted by CRA) or in privately negotiated transactions, in each case in accordance with applicable insider trading and other securities laws and regulations. CRA records the retirement of its repurchased shares as a reduction to common stock. During the second quarter and first half of fiscal 2015, CRA repurchased and retired 118,900 shares and 263,800 shares, respectively, under these share repurchase programs at an average price per share of $28.90 and $30.23, respectively. During the second quarter and first half of fiscal 2014, CRA repurchased and retired 157,000 shares and 252,600 shares, respectively, under these share repurchase programs at an average price per share of $21.70 and $21.91, respectively. There was approximately $12.9 million available for future repurchases under these programs as of July 4, 2015.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 04, 2015
Income Taxes
Income Taxes	13. Income Taxes CRA's effective income tax rates were 40.6% and 50.0% for the second quarters of fiscal 2015 and fiscal 2014, respectively. The effective tax rate in the second quarter of fiscal 2015 was in line with the combined Federal and state statutory tax rate and included favorable rate drivers resulting from the geographical mix of earnings and the use of valuation allowances, offset by the tax treatment of contingent consideration and other permanent tax differences. Additionally, there was a discrete benefit in the quarter related to prior period true-ups primarily as a result of a statutory rate decrease for withholding taxes. The effective tax rate in the second quarter of fiscal 2014 was higher than CRA's combined Federal and state statutory tax rate primarily due to a non-cash tax expense recorded in the second quarter of fiscal 2014 to correct an error in its previously issued consolidated financial statements. During the second quarter of fiscal 2014, CRA identified the prior period error, which was related to the valuation of deferred tax assets in CRA's previously issued consolidated financial statements, concluded that this error was not material to its prior reporting periods, and recorded a non-cash tax expense of approximately $0.8 million to correct this error. CRA's effective income tax rates were 39.1% and 44.7% for the first half of fiscal 2015 and the first half of fiscal 2014, respectively. The effective tax rate in the first half of fiscal 2015 was slightly lower than the combined Federal and state statutory tax rate and included favorable rates drivers resulting from the geographical mix of earnings and the use of valuation allowances, offset by the tax treatment of contingent consideration and other permanent tax differences. The valuation allowance benefit resulted from the utilization of certain historical foreign net operating losses that previously had valuation allowances. Additionally, there was a discrete benefit year-to-date related to prior period true-ups primarily as a result of a decrease in a statutory withholding tax rate, as well as the release of reserves in connection with the finalization of the tax examination in France for fiscal years 2011 and 2012, offset by a discrete provision in the first quarter of fiscal 2015 in connection with income taxes payable for a state examination that has now concluded. The effective tax rate for the first half of fiscal 2014 was higher than CRA's combined Federal and state statutory tax rate primarily due to the approximately $0.8 million non-cash tax expense recorded in the second quarter of fiscal 2014 to correct the error in CRA's previously issued consolidated financial statements, described earlier in this note 13, partially offset by certain favorable tax adjustments that were treated as discrete items in the first half of fiscal 2014. CRA has not provided for deferred income taxes or foreign withholding taxes on undistributed earnings from its foreign subsidiaries as of July 4, 2015 because such earnings are considered to be indefinitely reinvested. CRA does not rely on these unremitted earnings as a source of funds for its domestic business as it expects to have sufficient cash flow and availability from its U.S. credit line to fund its U.S. operational and strategic needs. If CRA were to repatriate its foreign earnings that are indefinitely reinvested, it would incur minimal additional tax expense.

Restructuring Charges

Restructuring Charges	6 Months Ended
	Jul. 04, 2015
Restructuring Charges
Restructuring Charges	14. Restructuring Charges CRA did not incur any restructuring charges during the second quarter or first half of fiscal 2015, or the second quarter or first half of fiscal 2014. The restructuring reserve balance was as follows as of July 4, 2015 (in thousands): Office Vacancies Balance at January 3, 2015 $ Amounts paid, net of amounts received, during the first half of fiscal 2015 ) ​ ​ ​ ​ ​ Balance at July 4, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ On the accompanying balance sheet as of July 4, 2015, the reserve balance above was classified in "current portion of deferred rent". The restructuring reserve balance was as follows as of June 28, 2014 (in thousands): Office Vacancies Balance at December 28, 2013 $ Amounts paid, net of amounts received, during the first half of fiscal 2014 ) Adjustments during the first half of fiscal 2014 ​ ​ ​ ​ ​ Balance at June 28, 2014 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Subsequent Event

Subsequent Event	6 Months Ended
	Jul. 04, 2015
Subsequent Event
Subsequent Event	15. Subsequent Event On July 15, 2015, CRA entered into a new lease with 1411 IC-SIC Property LLC, as landlord, for 25,261 square feet of office space located on the 35th floor of 1411 Broadway, New York, New York. The lease's base term will expire 10 years from the date that CRA begins paying fixed rent under the lease and, subject to certain conditions, will be extendible by CRA for one five-year period. The annual fixed rent for this office space (which does not include customary operating costs and expenses) will be approximately $153,671 per month, or $1,844,053 per annum, for the first five years of the lease's base term and will increase to a rate of approximately $166,301 per month, or $1,955,619 per annum, during the remainder of the lease's base term. The lease gives us a right of first refusal to rent certain additional office space in the office building if it becomes available. The performance of our obligations under the lease is secured by a letter of credit in the amount of $922,027. We took possession of the leased property on August 1, 2015.

Fair value of Financial Instr23

Fair value of Financial Instruments (Tables)	6 Months Ended
	Jul. 04, 2015
Principles of Consolidation
Fair value of Financial Instruments.	The following table shows CRA's financial instruments as of July 4, 2015 and January 3, 2015 that are measured and recorded in the financial statements at fair value on a recurring basis (in thousands): July 4, 2015 Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Unobservable Inputs Level 1 Level 2 Level 3 Assets: Money market funds $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Contingent acquisition liability $ — $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Liabilities $ — $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 3, 2015 Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Unobservable Inputs Level 1 Level 2 Level 3 Assets: Money market funds $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Contingent acquisition liability $ — $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Liabilities $ — $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Prepaid Expenses and Other Cu24

Prepaid Expenses and Other Current Assets, and Other Assets (Tables)	6 Months Ended
	Jul. 04, 2015
Prepaid Expenses and Other Current Assets, and Other Assets
Schedule of other assets	Other assets consist of the following (in thousands): July 4, 2015 January 3, 2015 Forgivable loans to employees and non-employee experts $ $ Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jul. 04, 2015
Goodwill
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill during the fiscal year-to-date period ended July 4, 2015, are as follows (in thousands): Goodwill, gross Accumulated impairment losses Goodwill, net Balance at January 3, 2015 $ $ ) $ Effect of foreign currency translation ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at July 4, 2015 $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The changes in the carrying amount of goodwill during the fiscal year-to-date period ended June 28, 2014, are as follows (in thousands): Goodwill, gross Accumulated impairment losses Goodwill, net Balance at December 28, 2013 $ $ ) $ Goodwill adjustments related to acquisitions — Effect of foreign currency translation — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at June 28, 2014 $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jul. 04, 2015
Accrued Expenses.
Schedule of accrued expenses	Accrued expenses consist of the following (in thousands): July 4, 2015 January 3, 2015 Compensation and related expenses $ $ Income taxes payable Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jul. 04, 2015
Revenue Recognition
Schedule of reimbursable expenses included in revenues	Reimbursable expenses are as follows (in thousands): Quarter Ended Fiscal Year to Date Period Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Reimbursable expenses $ $ $ $

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jul. 04, 2015
Net Income Per Share
Schedule of numerator and denominator used in calculation for basic earnings per share	Amount Shares Per Share Amount Net income attributable to CRA International, Inc. allocated to common shares $ Less: net income attributable to CRA International, Inc. allocated to unvested shares ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to CRA International, Inc. allocated to common shares $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of reconciliation of basic to diluted weighted average shares of common stock outstanding	A reconciliation of basic to diluted weighted average shares of common stock outstanding is as follows (in thousands): Quarter Ended Fiscal Year to Date Period Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Basic weighted average shares outstanding Common stock equivalents: Stock options, restricted shares, and restricted stock units ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted weighted average shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
	Jul. 04, 2015
Restructuring Charges
Schedule of restructuring reserve balance	The restructuring reserve balance was as follows as of July 4, 2015 (in thousands): Office Vacancies Balance at January 3, 2015 $ Amounts paid, net of amounts received, during the first half of fiscal 2015 ) ​ ​ ​ ​ ​ Balance at July 4, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The restructuring reserve balance was as follows as of June 28, 2014 (in thousands): Office Vacancies Balance at December 28, 2013 $ Amounts paid, net of amounts received, during the first half of fiscal 2014 ) Adjustments during the first half of fiscal 2014 ​ ​ ​ ​ ​ Balance at June 28, 2014 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Description of Business (Detail

Description of Business (Details)	6 Months Ended
	Jul. 04, 2015item
Description of Business
Number of broad areas of services	2
Number of business segments	1

Principles of Consolidation (De

Principles of Consolidation (Details) - USD ($)	Jan. 08, 2015	Apr. 04, 2015	Jul. 04, 2015	Jun. 28, 2014
Principles of Consolidation
Repayments of Notes Payable			$ 300,000	$ 26,000
Gain on extinguishment of debt			$ 606,000
NeuCo, Inc.
Principles of Consolidation
Percentage of ownership interest held by the entity			55.89%
Notes Payable	$ 981,000
Repayments of Notes Payable	$ 375,000
Gain on extinguishment of debt		$ 606,000
NeuCo, Inc. | Repayments of Notes payable on January 2015
Principles of Consolidation
Repayments of Notes Payable			$ 150,000
NeuCo, Inc. | Repayments of Notes payable on February 2015
Principles of Consolidation
Repayments of Notes Payable			150,000
NeuCo, Inc. | Repayments of Notes Payable on February 2016
Principles of Consolidation
Repayments of Notes Payable			$ 75,000

Fair Value of Financial Instr32

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2015	Jan. 03, 2015
Fair Value of Financial Instruments.
Costs of services	$ 800
Payment of contingent consideration	300
Recurring | Level 1
Fair Value of Financial Instruments.
Total Assets	46	$ 20,042
Recurring | Level 1 | Money Market Funds
Fair Value of Financial Instruments.
Cash and cash equivalents	46	20,042
Recurring | Level 3
Fair Value of Financial Instruments.
Contingent acquisition liability	861	316
Total Liabilities	$ 861	$ 316

Prepaid Expenses and Other Cu33

Prepaid Expenses and Other Current Assets, and Other Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2015	Jan. 03, 2015
Prepaid expenses and other assets disclosures
Term of forgivable loans or advances to employees and non-employee experts, minimum	3 years
Term of forgivable loans or advances to employees and non-employee experts, maximum	8 years
Forgivable loans issued to future employees for future service	$ 6,300
Other assets
Forgivable loans to employees and non-employee experts	37,873	$ 42,907
Other	4,931	5,008
Total	$ 42,804	$ 47,915

Goodwill (Details)

Goodwill (Details) $ in Thousands	6 Months Ended
	Jul. 04, 2015USD ($)item	Jun. 28, 2014USD ($)
Goodwill
Number of reporting units | item	1
Goodwill impairment	$ 0	$ 0
Changes in the carrying amount of goodwill
Balance at the beginning of the period, gross	154,196	153,466
Goodwill adjustments related to acquisitions		1,829
Effect of foreign currency translation	(9)	494
Balance at the end of the period, gross	154,187	155,789
Balance at the beginning of the period, Accumulated impairment losses	(71,893)	(71,893)
Balance at the end of the period, Accumulated impairment losses	(71,893)	(71,893)
Balance at the beginning of the period, net	82,303	81,573
Balance at the end of the period, net	$ 82,294	$ 83,896

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jul. 04, 2015	Jan. 03, 2015
Accrued Expenses.
Compensation and related expenses	$ 38,460	$ 61,527
Income taxes payable	358	490
Other	6,160	4,531
Total	44,978	66,548
Accrued bonuses	$ 26,400	$ 49,200

Credit Agreement (Details)

Credit Agreement (Details) - Jul. 04, 2015 $ in Thousands	USD ($)
Senior Loan Agreement
Repayments of Lines of Credit	$ 4,000
Proceeds from Lines of Credit	4,000
Revolving credit facility
Senior Loan Agreement
Revolving credit facility, maximum capacity	125,000
Amount outstanding under revolving line of credit	0
Amounts outstanding under letters of credit	$ 1,300
Percentage of stock of domestic subsidiaries pledged as collateral for borrowings	100.00%
Percentage of stock of foreign subsidiaries pledged as collateral for borrowings	65.00%
Value of stock in net assets pledged as collateral for borrowings	$ 6,200
Ratio of consolidated interest expense to consolidated EBITDA	2.5
Ratio of consolidated debt to consolidated EBITDA	3
Revolving credit facility | Minimum
Senior Loan Agreement
Commitment fee payable on the unused portion of the credit facility (as a percent)	0.25%
Revolving credit facility | Maximum
Senior Loan Agreement
Commitment fee payable on the unused portion of the credit facility (as a percent)	0.375%
Revolving credit facility | Base rate
Senior Loan Agreement
Variable rate basis	base rate
Revolving credit facility | Base rate | Minimum
Senior Loan Agreement
Interest margin (as a percent)	0.50%
Revolving credit facility | Base rate | Maximum
Senior Loan Agreement
Interest margin (as a percent)	1.50%
Revolving credit facility | Eurocurrency rate
Senior Loan Agreement
Variable rate basis	eurocurrency rate
Revolving credit facility | Eurocurrency rate | Minimum
Senior Loan Agreement
Interest margin (as a percent)	1.50%
Revolving credit facility | Eurocurrency rate | Maximum
Senior Loan Agreement
Interest margin (as a percent)	2.50%
Letters of credit
Senior Loan Agreement
Revolving credit facility, maximum capacity	$ 15,000

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Revenue Recognition
Reimbursable expenses	$ 7,447	$ 8,658	$ 16,319	$ 17,686

Net Income per Share (Details)

Net Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net income attributable to CRA International, Inc. allocated to common shares	$ 3,325	$ 3,188	$ 6,104	$ 6,598
Less: net income attributable to CRA International, Inc. allocated to unvested shares			(47)
Net income attributable to CRA International, Inc. allocated to common shares			$ 6,057
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Net income attributable to CRA International, Inc. allocated to common shares (in shares)			9,183,000
Less: net income attributable to CRA International, Inc. allocated to unvested shares (in shares)			(71,000)
Net income attributable to CRA International, Inc. allocated to common shares (in shares)	9,034,000	9,919,000	9,112,000	9,974,000
Income (Loss) from Operations before Extraordinary Items, Per Basic Share [Abstract]
Net income attributable to CRA International, Inc. allotted to common shares (in dollars per share)	$ 0.37	$ 0.32	$ 0.66	$ 0.66
Reconciliation of basic to diluted weighted average shares of common stock outstanding
Basic weighted average shares outstanding	9,034,000	9,919,000	9,112,000	9,974,000
Common stock equivalents:
Stock options, restricted shares, and restricted stock units (in shares)	219,000	107,000	216,000	93,000
Diluted weighted average shares outstanding	9,253,000	10,026,000	9,328,000	10,067,000
Calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding
Anti-dilutive securities excluded from EPS computation (in shares)	371,421	888,746	381,577	1,088,180

Net Income per Share (Details 2

Net Income per Share (Details 2) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014	Oct. 23, 2014	Feb. 13, 2014	Aug. 10, 2012
Share Repurchase Program
Share repurchase program, amount authorized to be repurchased					$ 30	$ 15	$ 5
Number of shares repurchased and retired	118,900	157,000	263,800	252,600
Average repurchase price per share (in dollars per share)	$ 28.90	$ 21.70	$ 30.23	$ 21.91
Amount available for future repurchases	$ 12.9		$ 12.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Income Taxes
Non-cash tax expense		$ 0.8
Reconciliation of tax rates with federal statutory rate
Effective tax rate (as a percent)	40.60%	50.00%	39.10%	44.70%

Restructuring Charges (Details)

Restructuring Charges (Details) - Office Vacancies - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014
Restructuring reserve balance
Balance at the beginning of the period	$ 462	$ 1,170
Amounts paid, net of amounts received	(424)	(452)
Adjustments		20
Balance at the end of the period	$ 38	$ 738

Subsequent Event (Details)

Subsequent Event (Details) - Jul. 15, 2015 - Subsequent event. - IC-SIC Property	USD ($)ft²item
Subsequent Event
Area of office building taken on lease | ft²	25,261
Initial term of the lease	10 years
Number of options available for lease extensions | item	1
Period for which lease tem can be extended	5 years
Threshold amount of monthly fixed rent for the first five year of the lease's base term	$ 153,671
Threshold amount of annual fixed rent for the first five year of the lease's base term	1,844,053
Incremental monthly fixed rent for remainder of the lease's base term	166,301
Incremental annual fixed rent for remainder of the lease's base term	1,955,619
Amount of letters of credit issued as security	$ 922,027