CRA International (CRAI) 10-Q 5 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 03, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 3, 2021
Document Transition Report	false
Entity File Number	000-24049
Entity Registrant Name	CRA International, Inc.
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-2372210
Entity Address, Address Line One	200 Clarendon Street
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02116-5092
City Area Code	617
Local Phone Number	425-3000
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	CRAI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,381,781
Entity Central Index Key	0001053706
Amendment Flag	false
Current Fiscal Year End Date	--01-01
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Income Statement [Abstract]
Revenues	$ 148,237	$ 123,031	$ 294,755	$ 249,189
Costs of services (exclusive of depreciation and amortization)	105,042	90,168	210,416	181,165
Selling, general and administrative expenses	24,043	21,418	47,250	45,541
Depreciation and amortization	3,215	3,106	6,516	6,049
Income from operations	15,937	8,339	30,573	16,434
Interest expense, net	(409)	(372)	(608)	(734)
Foreign currency gains (losses), net	63	(102)	(488)	1,320
Income before provision for income taxes	15,591	7,865	29,477	17,020
Provision for income taxes	4,025	1,934	7,410	4,621
Net income	$ 11,566	$ 5,931	$ 22,067	$ 12,399
Net income per share:
Basic (in dollars per share)	$ 1.57	$ 0.76	$ 2.94	$ 1.59
Diluted (in dollars per share)	$ 1.53	$ 0.75	$ 2.86	$ 1.55
Weighted average number of shares outstanding:
Basic (in shares)	7,320	7,764	7,473	7,784
Diluted (in shares)	7,539	7,920	7,685	7,979

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 11,566	$ 5,931	$ 22,067	$ 12,399
Other comprehensive income (loss)
Foreign currency translation adjustments, net of tax	(136)	536	(247)	(1,891)
Comprehensive income	$ 11,430	$ 6,467	$ 21,820	$ 10,508

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jul. 03, 2021	Jan. 02, 2021
Current assets:
Cash and cash equivalents	$ 13,977	$ 45,677
Accounts receivable, net of allowances of $3,959 at July 3, 2021 and $3,595 at January 2, 2021	113,105	111,595
Unbilled services, net of allowances of $1,430 at July 3, 2021 and $1,000 at January 2, 2021	60,789	40,881
Prepaid expenses and other current assets	11,549	7,068
Forgivable loans	8,654	14,749
Total current assets	208,074	219,970
Property and equipment, net	57,997	62,878
Goodwill	89,243	89,187
Intangible assets, net	4,620	5,108
Right-of-use assets	116,868	122,144
Deferred income taxes	10,980	9,667
Forgivable loans, net of current portion	44,940	46,864
Other assets	2,243	2,692
Total assets	534,965	558,510
Current liabilities:
Accounts payable	23,880	19,430
Accrued expenses	99,443	136,376
Deferred revenue and other liabilities	6,044	9,866
Current portion of lease liabilities	14,088	13,557
Current portion of deferred compensation	2,773	20,902
Revolving line of credit	45,000	0
Total current liabilities	191,228	200,131
Non-current liabilities:
Deferred compensation and other non-current liabilities	12,487	9,188
Non-current portion of lease liabilities	132,488	139,447
Deferred income taxes	931	725
Total non-current liabilities	145,906	149,360
Commitments and contingencies
Shareholders’ equity:
Preferred stock, no par value; 1,000,000 shares authorized; none issued and outstanding	0	0
Common stock, no par value; 25,000,000 shares authorized; 7,339,322 and 7,693,497 shares issued and outstanding at July 3, 2021 and January 2, 2021, respectively	1,985	503
Retained earnings	204,576	216,999
Accumulated other comprehensive loss	(8,730)	(8,483)
Total shareholders’ equity	197,831	209,019
Total liabilities and shareholders’ equity	$ 534,965	$ 558,510

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jul. 03, 2021	Jan. 02, 2021
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 3,959	$ 3,595
Allowance for unbilled services	$ 1,430	$ 1,000
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (shares)	1,000,000	1,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value ( in dollars per share )	$ 0	$ 0
Common stock, shares authorized (shares)	25,000,000	25,000,000
Common stock, shares issued (shares)	7,339,322	7,693,497
Common stock, shares outstanding (shares)	7,339,322	7,693,497

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
OPERATING ACTIVITIES:
Net income	$ 22,067	$ 12,399
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	6,516	6,049
Right-of-use asset amortization	6,437	5,894
Deferred income taxes	(1,203)	(842)
Share-based compensation expense	1,822	1,451
Accounts receivable allowances	351	(311)
Unrealized foreign currency remeasurement (gains) losses, net	(160)	34
Changes in operating assets and liabilities:
Accounts receivable	(1,735)	5,000
Unbilled services, net	(19,913)	(13,962)
Prepaid expenses and other current assets, and other assets	(4,061)	(2,766)
Forgivable loans	8,133	(25,499)
Incentive cash awards	3,329	3,028
Accounts payable, accrued expenses, and other liabilities	(50,181)	(31,623)
Lease liabilities	(7,625)	(3,152)
Net cash used in operating activities	(36,223)	(44,300)
INVESTING ACTIVITIES:
Purchases of property and equipment	(1,170)	(13,517)
Net cash used in investing activities	(1,170)	(13,517)
FINANCING ACTIVITIES:
Issuance of common stock, principally stock option exercises	2,500	569
Borrowings under revolving line of credit	70,000	77,000
Repayments under revolving line of credit	(25,000)	(18,000)
Tax withholding payments reimbursed by shares	(588)	(390)
Cash paid for contingent consideration	(2,357)	0
Cash dividends paid	(3,970)	(3,624)
Repurchase of common stock	(34,977)	(3,810)
Net cash provided by financing activities	5,608	51,745
Effect of foreign exchange rates on cash and cash equivalents	85	(760)
Net decrease in cash and cash equivalents	(31,700)	(6,832)
Cash and cash equivalents at beginning of period	45,677	25,639
Cash and cash equivalents at end of period	13,977	18,807
Noncash investing and financing activities:
Purchases of property and equipment not yet paid for	124	3,784
Asset retirement obligations	0	155
Right-of-use assets obtained in exchange for lease obligations	1,070	0
Restricted common stock issued for contingent consideration	2,250	0
Supplemental cash flow information:
Cash paid for taxes	10,494	2,057
Cash paid for interest	379	676
Cash paid for amounts included in operating lease liabilities	$ 10,325	$ 9,243

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect Period of Adoption, Adjustment	Cumulative Effect Period of Adoption, Adjusted Balance	Common Stock	Common StockCumulative Effect Period of Adoption, Adjusted Balance	Retained Earnings	Retained EarningsCumulative Effect Period of Adoption, Adjustment	Retained EarningsCumulative Effect Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCumulative Effect Period of Adoption, Adjusted Balance
Beginning balance at Dec. 28, 2019	$ 197,751	$ (203)	$ 197,548	$ 9,265	$ 9,265	$ 200,249	$ (203)	$ 200,046	$ (11,763)	$ (11,763)
Beginning balance (in shares) at Dec. 28, 2019				7,814,797	7,814,797
Increase (Decrease) in Shareholders' Equity
Net income	6,468					6,468
Foreign currency translation adjustment	(2,427)								(2,427)
Exercise of stock options	151			$ 151
Exercise of stock options (in shares)				8,200
Share-based compensation expense	$ 655			$ 655
Restricted shares vesting (in shares)	23,884
Redemption of vested employee restricted shares for tax withholding	$ (390)			$ (390)
Redemption of vested employee restricted shares for tax withholding (in shares)				(7,843)
Shares repurchased	(3,810)			$ (3,810)
Shares repurchased (in shares)				(82,613)
Accrued dividends on unvested shares	1					1
Cash dividends paid (per share)	(1,836)					(1,836)
Ending balance at Mar. 28, 2020	196,360			$ 5,871		204,679			(14,190)
Ending balance (in shares) at Mar. 28, 2020				7,756,425
Beginning balance at Dec. 28, 2019	197,751	$ (203)	$ 197,548	$ 9,265	$ 9,265	200,249	$ (203)	$ 200,046	(11,763)	$ (11,763)
Beginning balance (in shares) at Dec. 28, 2019				7,814,797	7,814,797
Increase (Decrease) in Shareholders' Equity
Net income	12,399
Foreign currency translation adjustment	(1,891)
Issuance of restricted common stock for contingent consideration	0
Ending balance at Jun. 27, 2020	202,215			$ 7,085		208,784			(13,654)
Ending balance (in shares) at Jun. 27, 2020				7,779,549
Beginning balance at Mar. 28, 2020	196,360			$ 5,871		204,679			(14,190)
Beginning balance (in shares) at Mar. 28, 2020				7,756,425
Increase (Decrease) in Shareholders' Equity
Net income	5,931					5,931
Foreign currency translation adjustment	536								536
Exercise of stock options	418			$ 418
Exercise of stock options (in shares)				22,611
Share-based compensation expense	796			$ 796
Restricted shares vesting (in shares)				513
Accrued dividends on unvested shares	(38)					(38)
Cash dividends paid (per share)	(1,788)					(1,788)
Ending balance at Jun. 27, 2020	202,215			$ 7,085		208,784			(13,654)
Ending balance (in shares) at Jun. 27, 2020				7,779,549
Beginning balance at Jan. 02, 2021	$ 209,019			$ 503		216,999			(8,483)
Beginning balance (in shares) at Jan. 02, 2021	7,693,497			7,693,497
Increase (Decrease) in Shareholders' Equity
Net income	$ 10,501					10,501
Foreign currency translation adjustment	(111)								(111)
Issuance of restricted common stock for contingent consideration	2,250			$ 2,250
Issuance of restricted common stock for contingent consideration (in shares)				40,039
Exercise of stock options	1,113			$ 1,113
Exercise of stock options (in shares)				41,008
Share-based compensation expense	842			$ 842
Restricted shares vesting (in shares)				29,494
Redemption of vested employee restricted shares for tax withholding	(588)			$ (588)
Redemption of vested employee restricted shares for tax withholding (in shares)				(9,895)
Shares repurchased	(9,642)			$ (4,120)		(5,522)
Shares repurchased (in shares)				(166,552)
Accrued dividends on unvested shares	5					5
Cash dividends paid (per share)	(2,061)					(2,061)
Ending balance at Apr. 03, 2021	211,328			$ 0		219,922			(8,594)
Ending balance (in shares) at Apr. 03, 2021				7,627,591
Beginning balance at Jan. 02, 2021	$ 209,019			$ 503		216,999			(8,483)
Beginning balance (in shares) at Jan. 02, 2021	7,693,497			7,693,497
Increase (Decrease) in Shareholders' Equity
Net income	$ 22,067
Foreign currency translation adjustment	(247)
Issuance of restricted common stock for contingent consideration	2,250
Ending balance at Jul. 03, 2021	$ 197,831			$ 1,985		204,576			(8,730)
Ending balance (in shares) at Jul. 03, 2021	7,339,322			7,339,322
Beginning balance at Apr. 03, 2021	$ 211,328			$ 0		219,922			(8,594)
Beginning balance (in shares) at Apr. 03, 2021				7,627,591
Increase (Decrease) in Shareholders' Equity
Net income	11,566					11,566
Foreign currency translation adjustment	(136)								(136)
Exercise of stock options	1,387			$ 1,387
Exercise of stock options (in shares)				48,562
Share-based compensation expense	980			$ 980
Restricted shares vesting (in shares)				1,006
Shares repurchased	(25,335)			$ (382)		(24,953)
Shares repurchased (in shares)				(337,837)
Accrued dividends on unvested shares	(50)					(50)
Cash dividends paid (per share)	(1,909)					(1,909)
Ending balance at Jul. 03, 2021	$ 197,831			$ 1,985		$ 204,576			$ (8,730)
Ending balance (in shares) at Jul. 03, 2021	7,339,322			7,339,322

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Jun. 27, 2020	Mar. 28, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends paid to shareholders (in dollars per share)	$ 0.26	$ 0.26	$ 0.23	$ 0.23

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 03, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Description of Business CRA International, Inc. (“CRA” or the “Company”) is a worldwide leading consulting services firm that applies advanced analytic techniques and in-depth industry knowledge to complex engagements for a broad range of clients. CRA offers services in two broad areas: litigation, regulatory, and financial consulting and management consulting. CRA operates in one business segment. CRA operates its business under its registered trade name, Charles River Associates. Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of CRA International, Inc. and its wholly-owned subsidiaries (collectively the “Company”), which require consolidation after the elimination of intercompany accounts and transactions. These financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for Quarterly Reports on Form 10-Q. Accordingly, these financial statements do not include all the information and note disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements. In the opinion of management, these financial statements reflect all adjustments of a normal, recurring nature necessary for the fair presentation of CRA’s results of operations, financial position, cash flows, and shareholders’ equity for the interim periods presented in conformity with GAAP. Results of operations for the interim periods presented herein are not necessarily indicative of results of operations for a full year. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the fiscal year ended January 2, 2021 included in CRA’s Annual Report on Form 10-K filed with the SEC on March 4, 2021 (the “2020 Form 10-K”). Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported results of operations, financial position, or cash flows. Estimates The preparation of financial statements in conformity with GAAP requires management to make significant estimates and judgments that affect the reported amounts of assets and liabilities, as well as the related disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of consolidated revenues and expenses during the reporting period. Estimates in these condensed consolidated financial statements include, but are not limited to, allowances for accounts receivable and unbilled services, revenue recognition on fixed price contracts, variable consideration to be included in the transaction price of revenue contracts, depreciation of property and equipment, measurement of operating lease right-of-use (“ROU”) assets and liabilities, share-based compensation, valuation of contingent consideration liabilities, valuation of acquired intangible assets, impairment of long-lived assets, goodwill, accrued and deferred income taxes, valuation allowances on deferred tax assets, accrued incentive compensation, and certain other accrued expenses. These items are monitored and analyzed by CRA for changes in facts and circumstances, and material changes in these estimates could occur in the future. Changes in estimates are recorded in the period in which they become known. CRA bases its estimates on historical experience and various other assumptions that CRA believes to be reasonable under the circumstances. Actual results may differ from those estimates if CRA’s assumptions based on past experience or other assumptions do not turn out to be substantially accurate. Common Stock and Equity Equity transactions consist primarily of the repurchase by CRA of its common stock under its share repurchase program and the recognition of compensation expense and issuance of common stock under CRA’s 2006 Equity Incentive Plan. The Company repurchases its common stock under its share repurchase program in open market purchases (including through any Rule 10b5-1 plan adopted by CRA) or in privately negotiated transactions in accordance with applicable insider trading and other securities laws and regulations. During the fiscal quarter ended July 3, 2021, CRA repurchased shares of its common stock through a modified "Dutch auction" self-tender offer, as further described in Note 11. The purchase price of repurchases is first charged against available paid-in capital (“PIC”) until PIC is exhausted, wherein purchases will be charged to retained earnings. CRA’s common stock has no par value. All shares repurchased have been retired. Recent Accounting Standards Adopted Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes CRA adopted Accounting Standards Update ("ASU") No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”) on the first day of fiscal 2021. ASU 2019-12 simplifies or clarifies accounting for income taxes by changing prior guidance related to accounting for year-to-date losses in interim periods, accounting for tax law changes in interim periods, determining when a deferred tax liability is recognized for foreign subsidiaries that transition to or from being accounted for as equity method investments, application of income tax guidance to franchise taxes that are partially based on income, and making an intra-period allocation in situations where there is a loss in continuing operations and income or gain from other items. ASU 2019-12 also introduces new guidance to evaluate whether a step up in the tax basis of goodwill relates to a business combination or a separate transaction and provides a policy election to not allocate consolidated income taxes when a member of a consolidated tax return is not subject to income tax. The adoption of the new standard did not have a material impact on CRA's financial position, results of operations, cash flows, or disclosures on the date of transition.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jul. 03, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments As of July 3, 2021, CRA did not have any financial instruments measured at fair value on a recurring basis. The following table presents CRA’s financial instruments recorded in the condensed consolidated financial statements at January 2, 2021, which are measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): January 2, 2021 Level 1 Level 2 Level 3 Assets: Money market mutual funds $ 150 $ — $ — Total Assets $ 150 $ — $ — Liabilities: Contingent consideration liability $ — $ — $ 14,620 Total Liabilities $ — $ — $ 14,620 The fair value of CRA’s money market mutual fund share holdings was $1.00 per share. The contingent consideration liability pertained to estimated future contingent consideration payments related to the acquisition of C1 Consulting, LLC, an independent consulting firm, and its wholly-owned subsidiary C1 Associates (collectively, “C1”). The following table summarizes the changes in the contingent consideration liabilities (in thousands): Fiscal Year-to-Date Period Ended Fiscal Year Ended July 3, 2021 January 2, 2021 Beginning balance $ 14,620 $ 11,579 Remeasurement of acquisition-related contingent consideration — 1,156 Accretion 380 1,885 Payment of contingent consideration (15,000) — Ending balance $ — $ 14,620

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jul. 03, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The contracts CRA enters into and operates under specify whether the projects are billed on a time-and-materials or a fixed-price basis. Time-and-materials contracts are typically used for litigation, regulatory, and financial consulting projects while fixed-price contracts are principally used for management consulting projects. In general, project costs are classified in costs of services and are based on the direct salary of CRA’s employee consultants on the engagement, plus all direct expenses incurred to complete the project, including any amounts billed to CRA by its non-employee experts. Disaggregation of Revenue The following tables disaggregate CRA’s revenue by type of contract and geographic location (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date Type of Contract July 3, June 27, July 3, June 27, Consulting services revenues Fixed-price $ 36,245 $ 30,783 $ 69,678 $ 59,771 Time-and-materials 111,992 92,248 225,077 189,418 Total $ 148,237 $ 123,031 $ 294,755 $ 249,189 Fiscal Quarter Ended Fiscal Year-to-Date Geographic Breakdown July 3, June 27, July 3, June 27, Consulting services revenues United States $ 120,810 $ 99,416 $ 238,057 $ 200,156 United Kingdom 19,740 17,931 43,026 36,997 Other 7,687 5,684 13,672 12,036 Total $ 148,237 $ 123,031 $ 294,755 $ 249,189 Reserves for Variable Consideration and Credit Risk Revenues from CRA's consulting services are recorded at the net transaction price, which includes estimates of variable consideration for which reserves are established. Variable consideration reserves are based on specific price concessions and those expected to be extended to CRA customers estimated by CRA's historical realization rates. Reserves for variable consideration are recorded as a component of the allowances for accounts receivable and unbilled services on the condensed consolidated balance sheets. Adjustments to the reserves for variable consideration are included in revenues on the condensed consolidated statements of operations. CRA also maintains allowances for accounts receivable and unbilled services for estimated losses resulting from clients’ failure to make required payments. CRA adopted ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASC 326") on the first day of fiscal 2020, which changed the method CRA utilizes to estimate reserves related to credit risk. As a result of the adoption, CRA recognized a $0.2 million cumulative-effect increase to allowances for accounts receivable and unbilled services and a reduction to the fiscal 2020 opening balance of retained earnings. The following table presents CRA's bad debt expense, net of recoveries of previously written off allowances (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Bad debt expense (recovery), net $ 2 $ (102) $ (11) $ (43) Reimbursable Expenses Revenues also include reimbursements for costs incurred by CRA in fulfilling its performance obligations, including travel and other out-of-pocket expenses, fees for outside consultants and other reimbursable expenses. CRA recovers substantially all of these costs. The following expenses are subject to reimbursement (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Reimbursable expenses $ 17,176 $ 14,815 $ 33,655 $ 31,245 Contract Balances from Contracts with Customers CRA defines contract assets as assets for which it has recorded revenue because it determines that it is probable that it will earn a performance-based or contingent fee but is not yet entitled to receive a fee because certain events, such as completion of the measurement period or client approval, must occur. The contract assets balance was immaterial as of July 3, 2021 and January 2, 2021. When consideration is received, or such consideration is unconditionally due from a customer prior to transferring consulting services to the customer under the terms of a contract, a contract liability is recorded. Contract liabilities are recognized as revenue after performance obligations have been satisfied and all revenue recognition criteria have been met. The following table presents the closing balances of CRA's contract liabilities (in thousands): July 3, January 2, Contract liabilities $ 1,893 $ 5,527 CRA recognized the following revenue that was included in the contract liabilities balance as of the opening of the respective period or for performance obligations satisfied in previous periods (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Amounts included in contract liabilities at the beginning of the period $ 2,220 $ 2,940 $ 5,057 $ 3,250 Performance obligations satisfied in previous periods $ 4,471 $ 3,554 $ 2,684 $ 4,075

Forgivable Loans

Forgivable Loans	6 Months Ended
	Jul. 03, 2021
Forgivable Loans
Forgivable Loans	Forgivable Loans In order to attract and retain highly skilled professionals, CRA may issue forgivable loans to employees and non-employee experts, certain of which may be denominated in local currencies. A portion of these loans is collateralized. The principal amount of forgivable loans and accrued interest is forgiven by CRA over the term of the loans, so long as the employee or non-employee expert continues employment or affiliation with CRA and complies with certain contractual requirements. The expense associated with the forgiveness of the principal amount of the loans is recorded as compensation expense over the service period, which is consistent with the term of the loans. The following table presents forgivable loan activity for the respective periods (in thousands): Fiscal Year-to-Date Fiscal Year Ended July 3, January 2, Beginning balance $ 61,613 $ 55,141 Advances 4,530 42,418 Reclassifications from accrued expenses or to other assets (1) — (9,713) Amortization (12,656) (26,628) Effects of foreign currency translation 107 395 Ending balance $ 53,594 $ 61,613 Current portion of forgivable loans $ 8,654 $ 14,749 Non-current portion of forgivable loans $ 44,940 $ 46,864 _______________________________

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jul. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the fiscal year-to-date period ended July 3, 2021 are summarized as follows (in thousands): Goodwill $ 161,080 Accumulated goodwill impairment (71,893) Goodwill, net at January 2, 2021 89,187 Foreign currency translation adjustment 56 Goodwill, net at July 3, 2021 (1) $ 89,243 _______________________________ (1) Goodwill, net at July 3, 2021, is comprised of goodwill of $161.1 million and accumulated impairment of $71.9 million. Intangible assets that are separable from goodwill and have determinable useful lives are valued separately and amortized over their expected useful lives. There were no impairment losses related to intangible assets during the fiscal quarter ended July 3, 2021 or during the fiscal year ended January 2, 2021. The components of acquired identifiable intangible assets are as follows (in thousands): July 3, January 2, Non-competition agreements $ 280 $ 280 Customer relationships 8,220 12,120 Total cost 8,500 12,400 Accumulated amortization (3,880) (7,292) Total intangible assets, net $ 4,620 $ 5,108

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jul. 03, 2021
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consist of the following (in thousands): July 3, January 2, Compensation and related expenses $ 89,954 $ 123,540 Income taxes payable 449 1,927 Performance awards 2,103 2,176 Other professional fees 1,655 1,541 Direct project accruals 2,442 3,988 Accrued leasehold improvements 40 52 Other 2,800 3,152 Total accrued expenses $ 99,443 $ 136,376 As of July 3, 2021, and January 2, 2021, approximately $67.5 million and $102.6 million, respectively, of accrued bonuses were included above in “Compensation and related expenses.”

Income Taxes

Income Taxes	6 Months Ended
	Jul. 03, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the fiscal quarters ended July 3, 2021 and June 27, 2020, CRA’s effective income tax rate (“ETR”) was 25.8% and 24.6%, respectively. The ETR for the second quarter of fiscal 2021 was higher than the prior year primarily due to the prior year's tax impact of increased forecasted profit as compared to the fiscal quarter ended March 28, 2020, that was non-recurring in the current year. The rate was also higher this year as a result of the remeasurement of the U.K.'s long-term deferred tax liabilities stemming from the enactment of a U.K. statutory tax rate increase offset by an increase in the tax benefit related to the accounting for stock-based compensation. For the fiscal year-to-date periods ended July 3, 2021 and June 27, 2020, CRA's ETR was 25.1% and 27.2%, respectively. The ETR for the current fiscal year-to-date period was lower than the prior year due in part to the higher year-to-date profit to dilute the tax impact of non-deductible items resulting primarily from limitations on the deductibility of compensation paid to executive officers. The rate was also lower due to an increase in the tax benefit related to the accounting for stock-based compensation partially offset by the impact of U.K. statutory tax rate increase.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jul. 03, 2021
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share CRA calculates basic earnings per share using the two-class method. CRA calculates diluted earnings per share using the more dilutive of either the two-class method or treasury stock method. The two-class method was more dilutive for the fiscal quarters and fiscal year-to-date periods ended July 3, 2021 and June 27, 2020. Under the two-class method, net earnings are allocated to each class of common stock and participating security as if all the net earnings for the period had been distributed. CRA's participating securities consist of unvested share-based payment awards that contain a nonforfeitable right to receive dividends and therefore are considered to participate in undistributed earnings with common shareholders. Net earnings allocable to these participating securities were not material for the fiscal quarters and fiscal year-to-date periods ended July 3, 2021 and June 27, 2020. The following table presents a reconciliation from net income to the net income available to common shareholders (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Net income, as reported $ 11,566 $ 5,931 $ 22,067 $ 12,399 Less: net income attributable to participating shares 51 22 97 49 Net income available to common shareholders $ 11,515 $ 5,909 $ 21,970 $ 12,350 The following table presents a reconciliation of basic to diluted weighted average shares of common stock outstanding (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Basic weighted average shares outstanding 7,320 7,764 7,473 7,784 Dilutive stock options and restricted stock units 219 156 212 195 Diluted weighted average shares outstanding 7,539 7,920 7,685 7,979 The following table presents 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. For the fiscal quarter and fiscal year-to-date period ended June 27, 2020, the share-based awards each period were anti-dilutive because their exercise price exceeded the average market price over the respective period. There were no anti-dilutive shares for the fiscal quarter and fiscal year-to-date period ended July 3, 2021. Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Anti-dilutive share-based awards excluded — 106,018 — 44,069

Credit Agreement

Credit Agreement	6 Months Ended
	Jul. 03, 2021
Debt Disclosure [Abstract]
Credit Agreement	Credit Agreement CRA is party to an amended and restated credit agreement that provides the Company with a $175.0 million revolving credit facility, which reflects an increase to the capacity by $50.0 million per an amendment to the credit agreement on January 12, 2021, and includes a $15.0 million sublimit for the issuance of letters of credit. CRA may use the proceeds of the revolving credit facility to provide working capital and for other general corporate purposes. CRA may repay any borrowings under the revolving credit facility at any time, but any borrowings must be repaid no later than October 24, 2022. There was $45.0 million in borrowings outstanding under this revolving credit facility as of July 3, 2021. There were no borrowings outstanding under this facility as of January 2, 2021. As of July 3, 2021, the amount available under this revolving credit facility was reduced by certain letters of credit outstanding, which amounted to $4.4 million. 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. As of July 3, 2021, CRA was in compliance with the covenants of its credit agreement.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 03, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As described in the previous note, CRA is party to standby letters of credit with its bank in support of minimum future lease payments under leases for permanent office space. CRA is subject to legal actions arising in the ordinary course of business. In management’s opinion, based on current knowledge, CRA believes it has adequate legal defenses or insurance coverage, or both, with respect to the eventuality of such actions. CRA does not believe any settlement or judgment relating to any pending legal action would materially affect its financial position or results of operations . However, the outcome of such legal actions is inherently unpredictable and subject to inherent uncertainties.

Self-Tender Offer

Self-Tender Offer	6 Months Ended
	Jul. 03, 2021
Equity [Abstract]
Self-Tender Offer	Self-Tender OfferOn March 8, 2021, CRA commenced a modified "Dutch auction" self-tender offer to purchase up to $25.0 million in value of shares of its common stock at a price of not less than $66.25 per share nor greater than $76.00 per share. The self-tender offer expired on April 5, 2021. On April 8, 2021, CRA paid $25.3 million, including transaction costs, to repurchase 337,837 shares at a purchase price of $74.00 per share. The purchase price and transaction costs were funded from the revolving credit facility and cash on hand. The repurchased shares were retired.

Subsequent Events

Subsequent Events	6 Months Ended
	Jul. 03, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn August 5, 2021, CRA announced that its Board of Directors declared a quarterly cash dividend of $0.26 per common share, payable on September 10, 2021 to shareholders of record as of August 31, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 03, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of CRA International, Inc. and its wholly-owned subsidiaries (collectively the “Company”), which require consolidation after the elimination of intercompany accounts and transactions. These financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for Quarterly Reports on Form 10-Q. Accordingly, these financial statements do not include all the information and note disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements. In the opinion of management, these financial statements reflect all adjustments of a normal, recurring nature necessary for the fair presentation of CRA’s results of operations, financial position, cash flows, and shareholders’ equity for the interim periods presented in conformity with GAAP. Results of operations for the interim periods presented herein are not necessarily indicative of results of operations for a full year. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the fiscal year ended January 2, 2021 included in CRA’s Annual Report on Form 10-K filed with the SEC on March 4, 2021 (the “2020 Form 10-K”). Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported results of operations, financial position, or cash flows.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make significant estimates and judgments that affect the reported amounts of assets and liabilities, as well as the related disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of consolidated revenues and expenses during the reporting period. Estimates in these condensed consolidated financial statements include, but are not limited to, allowances for accounts receivable and unbilled services, revenue recognition on fixed price contracts, variable consideration to be included in the transaction price of revenue contracts, depreciation of property and equipment, measurement of operating lease right-of-use (“ROU”) assets and liabilities, share-based compensation, valuation of contingent consideration liabilities, valuation of acquired intangible assets, impairment of long-lived assets, goodwill, accrued and deferred income taxes, valuation allowances on deferred tax assets, accrued incentive compensation, and certain other accrued expenses. These items are monitored and analyzed by CRA for changes in facts and circumstances, and material changes in these estimates could occur in the future. Changes in estimates are recorded in the period in which they become known. CRA bases its estimates on historical experience and various other assumptions that CRA believes to be reasonable under the circumstances. Actual results may differ from those estimates if CRA’s assumptions based on past experience or other assumptions do not turn out to be substantially accurate.
Common Stock and Equity	Common Stock and Equity Equity transactions consist primarily of the repurchase by CRA of its common stock under its share repurchase program and the recognition of compensation expense and issuance of common stock under CRA’s 2006 Equity Incentive Plan. The Company repurchases its common stock under its share repurchase program in open market purchases (including through any Rule 10b5-1 plan adopted by CRA) or in privately negotiated transactions in accordance with applicable insider trading and other securities laws and regulations. During the fiscal quarter ended July 3, 2021, CRA repurchased shares of its common stock through a modified "Dutch auction" self-tender offer, as further described in Note 11.
Recent Accounting Standards Adopted	Recent Accounting Standards Adopted Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes CRA adopted Accounting Standards Update ("ASU") No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”) on the first day of fiscal 2021. ASU 2019-12 simplifies or clarifies accounting for income taxes by changing prior guidance related to accounting for year-to-date losses in interim periods, accounting for tax law changes in interim periods, determining when a deferred tax liability is recognized for foreign subsidiaries that transition to or from being accounted for as equity method investments, application of income tax guidance to franchise taxes that are partially based on income, and making an intra-period allocation in situations where there is a loss in continuing operations and income or gain from other items. ASU 2019-12 also introduces new guidance to evaluate whether a step up in the tax basis of goodwill relates to a business combination or a separate transaction and provides a policy election to not allocate consolidated income taxes when a member of a consolidated tax return is not subject to income tax. The adoption of the new standard did not have a material impact on CRA's financial position, results of operations, cash flows, or disclosures on the date of transition.

Fair value of Financial Instr_2

Fair value of Financial Instruments (Tables)	6 Months Ended
	Jul. 03, 2021
Fair Value Disclosures [Abstract]
Schedule of assets that are measured and recorded at fair value on a recurring basis	The following table presents CRA’s financial instruments recorded in the condensed consolidated financial statements at January 2, 2021, which are measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): January 2, 2021 Level 1 Level 2 Level 3 Assets: Money market mutual funds $ 150 $ — $ — Total Assets $ 150 $ — $ — Liabilities: Contingent consideration liability $ — $ — $ 14,620 Total Liabilities $ — $ — $ 14,620
Schedule of liabilities that are measured and recorded at fair value on a recurring basis	The following table presents CRA’s financial instruments recorded in the condensed consolidated financial statements at January 2, 2021, which are measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): January 2, 2021 Level 1 Level 2 Level 3 Assets: Money market mutual funds $ 150 $ — $ — Total Assets $ 150 $ — $ — Liabilities: Contingent consideration liability $ — $ — $ 14,620 Total Liabilities $ — $ — $ 14,620
Summary of the changes in the contingent consideration liabilities	The following table summarizes the changes in the contingent consideration liabilities (in thousands): Fiscal Year-to-Date Period Ended Fiscal Year Ended July 3, 2021 January 2, 2021 Beginning balance $ 14,620 $ 11,579 Remeasurement of acquisition-related contingent consideration — 1,156 Accretion 380 1,885 Payment of contingent consideration (15,000) — Ending balance $ — $ 14,620

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jul. 03, 2021
Revenue from Contract with Customer [Abstract]
Schedule of disaggregate CRA's revenue by type of contract and geographic location	The following tables disaggregate CRA’s revenue by type of contract and geographic location (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date Type of Contract July 3, June 27, July 3, June 27, Consulting services revenues Fixed-price $ 36,245 $ 30,783 $ 69,678 $ 59,771 Time-and-materials 111,992 92,248 225,077 189,418 Total $ 148,237 $ 123,031 $ 294,755 $ 249,189 Fiscal Quarter Ended Fiscal Year-to-Date Geographic Breakdown July 3, June 27, July 3, June 27, Consulting services revenues United States $ 120,810 $ 99,416 $ 238,057 $ 200,156 United Kingdom 19,740 17,931 43,026 36,997 Other 7,687 5,684 13,672 12,036 Total $ 148,237 $ 123,031 $ 294,755 $ 249,189
Schedule of bad debt expense, net of recoveries	The following table presents CRA's bad debt expense, net of recoveries of previously written off allowances (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Bad debt expense (recovery), net $ 2 $ (102) $ (11) $ (43)
Schedule of expenses are subject to reimbursement	The following expenses are subject to reimbursement (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Reimbursable expenses $ 17,176 $ 14,815 $ 33,655 $ 31,245
Schedule of opening and closing balances and result of changes in contract liability balance (in thousands)	The following table presents the closing balances of CRA's contract liabilities (in thousands): July 3, January 2, Contract liabilities $ 1,893 $ 5,527 CRA recognized the following revenue that was included in the contract liabilities balance as of the opening of the respective period or for performance obligations satisfied in previous periods (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Amounts included in contract liabilities at the beginning of the period $ 2,220 $ 2,940 $ 5,057 $ 3,250 Performance obligations satisfied in previous periods $ 4,471 $ 3,554 $ 2,684 $ 4,075

Forgivable Loans (Tables)

Forgivable Loans (Tables)	6 Months Ended
	Jul. 03, 2021
Forgivable Loans
Schedule of forgivable loan activity	The following table presents forgivable loan activity for the respective periods (in thousands): Fiscal Year-to-Date Fiscal Year Ended July 3, January 2, Beginning balance $ 61,613 $ 55,141 Advances 4,530 42,418 Reclassifications from accrued expenses or to other assets (1) — (9,713) Amortization (12,656) (26,628) Effects of foreign currency translation 107 395 Ending balance $ 53,594 $ 61,613 Current portion of forgivable loans $ 8,654 $ 14,749 Non-current portion of forgivable loans $ 44,940 $ 46,864 _______________________________

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jul. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill for the fiscal year-to-date period ended July 3, 2021 are summarized as follows (in thousands): Goodwill $ 161,080 Accumulated goodwill impairment (71,893) Goodwill, net at January 2, 2021 89,187 Foreign currency translation adjustment 56 Goodwill, net at July 3, 2021 (1) $ 89,243 _______________________________ (1) Goodwill, net at July 3, 2021, is comprised of goodwill of $161.1 million and accumulated impairment of $71.9 million.
Schedule of components of acquired identifiable intangible assets	The components of acquired identifiable intangible assets are as follows (in thousands): July 3, January 2, Non-competition agreements $ 280 $ 280 Customer relationships 8,220 12,120 Total cost 8,500 12,400 Accumulated amortization (3,880) (7,292) Total intangible assets, net $ 4,620 $ 5,108

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jul. 03, 2021
Accrued Liabilities, Current [Abstract]
Schedule of accrued expenses	Accrued expenses consist of the following (in thousands): July 3, January 2, Compensation and related expenses $ 89,954 $ 123,540 Income taxes payable 449 1,927 Performance awards 2,103 2,176 Other professional fees 1,655 1,541 Direct project accruals 2,442 3,988 Accrued leasehold improvements 40 52 Other 2,800 3,152 Total accrued expenses $ 99,443 $ 136,376

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jul. 03, 2021
Earnings Per Share [Abstract]
Schedule of reconciliation from net income to the net income available to common shareholders	The following table presents a reconciliation from net income to the net income available to common shareholders (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Net income, as reported $ 11,566 $ 5,931 $ 22,067 $ 12,399 Less: net income attributable to participating shares 51 22 97 49 Net income available to common shareholders $ 11,515 $ 5,909 $ 21,970 $ 12,350
Schedule of reconciliation of basic to diluted weighted average shares of common stock outstanding	The following table presents a reconciliation of basic to diluted weighted average shares of common stock outstanding (in thousands): Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Basic weighted average shares outstanding 7,320 7,764 7,473 7,784 Dilutive stock options and restricted stock units 219 156 212 195 Diluted weighted average shares outstanding 7,539 7,920 7,685 7,979
Schedule of anti-dilutive share-based awards excluded from common stock equivalents	The following table presents 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. For the fiscal quarter and fiscal year-to-date period ended June 27, 2020, the share-based awards each period were anti-dilutive because their exercise price exceeded the average market price over the respective period. There were no anti-dilutive shares for the fiscal quarter and fiscal year-to-date period ended July 3, 2021. Fiscal Quarter Ended Fiscal Year-to-Date July 3, June 27, July 3, June 27, Anti-dilutive share-based awards excluded — 106,018 — 44,069

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Description of Business and Fiscal Year (Details)	6 Months Ended
	Jul. 03, 2021segmentarea
Accounting Policies [Abstract]
Number of broad areas of consulting services | area	2
Number of business segment | segment	1

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 03, 2021	Jan. 02, 2021
Money market mutual funds
Liabilities:
Fair value per share of CRA's money market mutual fund share holdings (in dollars per share)	$ 1
Recurring
Summary of changes in contingent consideration liability
Beginning balance	$ 14,620	$ 11,579
Remeasurement of acquisition-related contingent consideration	0	1,156
Accretion	380	1,885
Payment of contingent consideration	(15,000)	0
Ending balance	$ 0	14,620
Recurring | Level 1
Assets:
Total Assets		150
Liabilities:
Contingent consideration liability		0
Total Liabilities		0
Recurring | Level 1 | Money market mutual funds
Assets:
Cash and cash equivalents		150
Recurring | Level 2
Assets:
Total Assets		0
Liabilities:
Contingent consideration liability		0
Total Liabilities		0
Recurring | Level 2 | Money market mutual funds
Assets:
Cash and cash equivalents		0
Recurring | Level 3
Assets:
Total Assets		0
Liabilities:
Contingent consideration liability		14,620
Total Liabilities		14,620
Recurring | Level 3 | Money market mutual funds
Assets:
Cash and cash equivalents		$ 0

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Disaggregation of Revenue
Consulting services revenues	$ 148,237	$ 123,031	$ 294,755	$ 249,189
United States
Disaggregation of Revenue
Consulting services revenues	120,810	99,416	238,057	200,156
United Kingdom
Disaggregation of Revenue
Consulting services revenues	19,740	17,931	43,026	36,997
Other
Disaggregation of Revenue
Consulting services revenues	7,687	5,684	13,672	12,036
Fixed-price
Disaggregation of Revenue
Consulting services revenues	36,245	30,783	69,678	59,771
Time-and-materials
Disaggregation of Revenue
Consulting services revenues	$ 111,992	$ 92,248	$ 225,077	$ 189,418

Revenue Recognition - Reserves

Revenue Recognition - Reserves for Variable Consideration and Credit Risk (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Apr. 03, 2021	Jan. 02, 2021	Mar. 28, 2020	Dec. 28, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of a change in accounting principle	$ 197,831	$ 202,215	$ 197,831	$ 202,215	$ 211,328	$ 209,019	$ 196,360	$ 197,751
Bad debt expense (recovery), net	2	(102)	(11)	(43)
Reimbursable expenses	17,176	14,815	33,655	31,245
Retained Earnings
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of a change in accounting principle	$ 204,576	$ 208,784	$ 204,576	$ 208,784	$ 219,922	$ 216,999	$ 204,679	200,249
Cumulative Effect Period of Adoption, Adjustment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of a change in accounting principle								(203)
Cumulative Effect Period of Adoption, Adjustment | Retained Earnings
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of a change in accounting principle								(203)
ASC 326 | Cumulative Effect Period of Adoption, Adjustment | Retained Earnings
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of a change in accounting principle								$ (200)

Revenue Recognition - Contract

Revenue Recognition - Contract Balances from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Jan. 02, 2021
Contract liabilities:
Contract liabilities	$ 1,893		$ 1,893		$ 5,527
Revenue recognized from:
Amounts included in contract liabilities at the beginning of the period	2,220	$ 2,940	5,057	$ 3,250
Performance obligations satisfied in previous periods	$ 4,471	$ 3,554	$ 2,684	$ 4,075

Forgivable Loans (Details)

Forgivable Loans (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 03, 2021	Jan. 02, 2021
Forgivable loan activity
Beginning balance	$ 61,613	$ 55,141
Advances	4,530	42,418
Reclassifications from accrued expenses or to other assets	0	(9,713)
Amortization	(12,656)	(26,628)
Effects of foreign currency translation	107	395
Ending balance	53,594	61,613
Current portion of forgivable loans	8,654	14,749
Non-current portion of forgivable loans	$ 44,940	$ 46,864

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jul. 03, 2021	Jul. 03, 2021	Jan. 02, 2021
Changes in the carrying amount of goodwill
Goodwill	$ 161,100,000	$ 161,100,000	$ 161,080,000
Accumulated goodwill impairment	(71,900,000)	(71,900,000)	(71,893,000)
Balance at the beginning of the period, Goodwill, net		89,187,000
Foreign currency translation adjustment and other		56,000
Balance at the end of the period, Goodwill, net	89,243,000	$ 89,243,000	89,187,000
Intangible assets impairment losses	$ 0		$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Acquired and Amortization (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Jan. 02, 2021
Acquired identifiable intangible assets
Total intangible asset cost	$ 8,500	$ 12,400
Accumulated amortization	(3,880)	(7,292)
Total intangible assets, net	4,620	5,108
Non-competition agreements
Acquired identifiable intangible assets
Total intangible asset cost	280	280
Customer relationships
Acquired identifiable intangible assets
Total intangible asset cost	$ 8,220	$ 12,120

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Jan. 02, 2021
Accrued Liabilities, Current [Abstract]
Compensation and related expenses	$ 89,954	$ 123,540
Income taxes payable	449	1,927
Performance awards	2,103	2,176
Other professional fees	1,655	1,541
Direct project accruals	2,442	3,988
Accrued leasehold improvements	40	52
Other	2,800	3,152
Total accrued expenses	99,443	136,376
Compensation and related expenses
Accrued bonuses	$ 67,500	$ 102,600

Income Taxes (Details)

Income Taxes (Details) £ in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Jul. 03, 2021USD ($)	Apr. 03, 2021GBP (£)	Jun. 27, 2020	Jul. 03, 2021USD ($)	Jun. 27, 2020
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	25.80%		24.60%	25.10%	27.20%
Distributed foreign earnings | £		£ 12
Deferred tax liability recognized, undistributed foreign earnings | $	$ 0.4			$ 0.4

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Jun. 27, 2020	Mar. 28, 2020	Jul. 03, 2021	Jun. 27, 2020
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net income	$ 11,566	$ 10,501	$ 5,931	$ 6,468	$ 22,067	$ 12,399
Less: net income attributable to participating shares	51		22		97	49
Net income available to common shareholders	$ 11,515		$ 5,909		$ 21,970	$ 12,350
Reconciliation of basic to diluted weighted average shares of common stock outstanding
Basic weighted average shares outstanding (in shares)	7,320,000		7,764,000		7,473,000	7,784,000
Dilutive stock options and restricted stock units (in shares)	219,000		156,000		212,000	195,000
Diluted weighted average shares outstanding (in shares)	7,539,000		7,920,000		7,685,000	7,979,000
Calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding
Anti-dilutive securities excluded from EPS computation (in shares)	0		106,018		0	44,069

Credit Agreement (Details)

Credit Agreement (Details) - USD ($)	6 Months Ended
	Jul. 03, 2021	Jan. 02, 2021
Senior Loan Agreement
Borrowings on revolving line of credit outstanding	$ 45,000,000	$ 0
Revolving credit facility
Senior Loan Agreement
Revolving credit facility, maximum capacity	175,000,000
Increased capacity of revolving credit facility, amount	50,000,000
Borrowings on revolving line of credit outstanding	45,000,000	$ 0
Secured by letters of credit
Senior Loan Agreement
Revolving credit facility, maximum capacity	15,000,000
Amount available under revolving credit facility reduced	$ 4,400,000

Self-Tender Offer (Details)

Self-Tender Offer (Details) - Self Tender Offer - USD ($)	Apr. 08, 2021	Mar. 08, 2021
Self-Tender Stock Offering [Line Items]
Self-tender stock offering, authorized amount		$ 25,000,000
Self-Tender stock offering, share purchase price (in dollars per share)	$ 74
Payments for Self-Tender stock offering, net	$ 25,300,000
Self-tender stock offering, number of shares repurchased (in shares)	337,837
Minimum
Self-Tender Stock Offering [Line Items]
Self-Tender stock offering, share purchase price (in dollars per share)		$ 66.25
Maximum
Self-Tender Stock Offering [Line Items]
Self-Tender stock offering, share purchase price (in dollars per share)		$ 76

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Aug. 05, 2021	Jul. 03, 2021	Apr. 03, 2021	Jun. 27, 2020	Mar. 28, 2020
Subsequent Events
Common share quarterly cash dividend declared (in dollars per share)		$ 0.26	$ 0.26	$ 0.23	$ 0.23
Subsequent Events
Subsequent Events
Common share quarterly cash dividend declared (in dollars per share)	$ 0.26

Uncategorized Items - crai-2021

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]