Exponent (EXPO) 10-Q 5 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	EXPONENT, INC.
Entity Central Index Key	0000851520
Current Fiscal Year End Date	--12-29
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Trading Symbol	EXPO
Entity Common Stock, Shares Outstanding		50,835,148
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity File Number	0-18655
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0218904
Entity Address, Address Line One	149 COMMONWEALTH DRIVE
Entity Address, City or Town	MENLO PARK
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	650
Local Phone Number	326-9400
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Title of each class	Common Stock, par value $0.001 per share
Name of each exchange on which registered	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Current assets:
Cash and cash equivalents	$ 125,649	$ 161,458
Accounts receivable, net of allowance for contract losses and doubtful accounts of $7,069 and $6,193 at March 31, 2023 and December 30, 2022, respectively	173,064	170,114
Prepaid expenses and other current assets	19,588	17,585
Total current assets	318,301	349,157
Property, equipment and leasehold improvements, net	69,413	65,539
Operating lease right-of-use assets	16,629	18,007
Goodwill	8,607	8,607
Deferred income taxes	52,184	53,909
Deferred compensation plan assets	98,981	89,437
Other assets	2,312	2,006
Total assets	566,427	586,662
Current liabilities:
Accounts payable and accrued liabilities	26,322	29,115
Accrued payroll and employee benefits	63,390	105,822
Deferred revenues	14,567	18,834
Operating lease liabilities	4,900	5,258
Total current liabilities	109,179	159,029
Other liabilities	2,513	2,355
Deferred compensation plan liabilities	101,330	91,183
Operating lease liabilities	11,549	13,343
Total liabilities	224,571	265,910
Stockholders’ equity:
Common stock, $0.001 par value; 120,000 shares authorized; 65,707 shares issued at March 31, 2023 and December 30, 2022	66	66
Additional paid-in capital	314,502	301,002
Accumulated other comprehensive loss
Foreign currency translation adjustments	(3,127)	(3,587)
Retained earnings	542,983	528,810
Treasury stock, at cost; 14,872 and 15,064 shares held at March 31, 2023 and December 30, 2022, respectively	(512,568)	(505,539)
Total stockholders’ equity	341,856	320,752
Total liabilities and stockholders’ equity	$ 566,427	$ 586,662

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for contract losses and doubtful accounts	$ 7,069	$ 6,193
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	65,707,000	65,707,000
Treasury stock, shares	14,872,000	15,064,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Revenues:
Revenues before reimbursements	$ 128,705	$ 117,870
Reimbursements	11,604	10,608
Revenues	140,309	128,478
Operating expenses:
Compensation and related expenses	84,181	68,757
Other operating expenses	9,561	8,165
Reimbursable expenses	11,604	10,608
General and administrative expenses	5,843	4,231
Total operating expenses	111,189	91,761
Operating income	29,120	36,717
Other income, net:
Interest income, net	1,770	21
Miscellaneous income (loss), net	4,648	(3,931)
Total other income (loss), net	6,418	(3,910)
Income before income taxes	35,538	32,807
Income taxes	6,414	3,198
Net income	$ 29,124	$ 29,609
Net income per share:
Basic (in dollars per share)	$ 0.57	$ 0.56
Diluted (in dollars per share)	$ 0.56	$ 0.56
Shares used in per share computations:
Basic (in shares)	51,132	52,419
Diluted (in shares)	51,682	53,039
Cash dividends declared per common share (in dollars per share)	$ 0.26	$ 0.24

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 29,124	$ 29,609
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	460	(310)
Comprehensive income	$ 29,584	$ 29,299

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income Loss [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Balance at Dec. 31, 2021	$ 417,065	$ 66	$ 281,419	$ (1,983)	$ 478,370	$ (340,807)
Balances (in shares) at Dec. 31, 2021		65,707,000				13,591,000
Employee stock purchase plan	564		511			$ 53
Employee stock purchase plan (in shares)						(6,000)
Amortization of unrecognized stock-based compensation	4,094		4,094
Purchase of treasury stock	(48,554)					$ (48,554)
Purchase of treasury stock (in shares)						553,000
Foreign currency translation adjustments	(310)			(310)
Grant of restricted stock units to settle accrued bonus	10,200		10,200
Settlement of restricted stock units	(12,904)		(2,335)		(1,392)	$ (9,177)
Settlement of restricted stock units (in shares)						(253,000)
Dividends and dividend equivalent rights	(13,200)				(13,200)
Net income	29,609				29,609
Balance at Apr. 01, 2022	386,564	$ 66	293,889	(2,293)	493,387	$ (398,485)
Balances (in shares) at Apr. 01, 2022		65,707,000				13,885,000
Balance at Dec. 30, 2022	320,752	$ 66	301,002	(3,587)	528,810	$ (505,539)
Balances (in shares) at Dec. 30, 2022		65,707,000				15,064,000
Employee stock purchase plan	580		517			$ 63
Employee stock purchase plan (in shares)						(6,000)
Amortization of unrecognized stock-based compensation	4,205		4,205
Foreign currency translation adjustments	460			460
Grant of restricted stock units to settle accrued bonus	10,497		10,497
Settlement of restricted stock units	(9,920)		(1,741)		(1,009)	$ (7,170)
Settlement of restricted stock units (in shares)						(178,000)
Exercise of stock options	100		22			$ 78
Exercise of stock options (in shares)						(8,000)
Dividends and dividend equivalent rights	(13,942)				(13,942)
Net income	29,124				29,124
Balance at Mar. 31, 2023	$ 341,856	$ 66	$ 314,502	$ (3,127)	$ 542,983	$ (512,568)
Balances (in shares) at Mar. 31, 2023		65,707,000				14,872,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Cash flows from operating activities:
Net income	$ 29,124	$ 29,609
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization of property, equipment and leasehold improvements	1,988	1,689
Provision for contract losses and doubtful accounts	892	686
Stock-based compensation	7,063	6,870
Deferred income tax provision	1,725	45
Changes in operating assets and liabilities:
Accounts receivable	(3,842)	(8,333)
Prepaid expenses and other current assets	(7,777)	(9,948)
Change in operating leases	(774)	(535)
Accounts payable and accrued liabilities	(2,271)	5,234
Accrued payroll and employee benefits	(28,564)	(27,576)
Deferred revenues	(4,267)	(4,093)
Net cash used in operating activities	(6,703)	(6,352)
Cash flows from investing activities:
Capital expenditures	(5,668)	(2,606)
Net cash used in investing activities	(5,668)	(2,606)
Cash flows from financing activities:
Payroll taxes for restricted stock units	(9,920)	(12,904)
Repurchase of common stock		(48,554)
Exercise of stock-based payment awards	680	564
Dividends and dividend equivalents rights	(14,500)	(12,514)
Net cash used in financing activities	(23,740)	(73,408)
Effect of foreign currency exchange rates on cash and cash equivalents	302	(271)
Net decrease in cash and cash equivalents	(35,809)	(82,637)
Cash and cash equivalents at beginning of period	161,458	297,687
Cash and cash equivalents at end of period	$ 125,649	$ 215,050

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1: Basis of Presentation Exponent, Inc. (referred to as the “Company” or “Exponent”) is an engineering and scientific consulting firm that provides solutions to complex problems. The Company operates on a 52-53 week fiscal year ending on the Friday closest to the last day of December. The accompanying unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission. Accordingly, they do not contain all the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments which are necessary for the fair presentation of the condensed consolidated financial statements have been included and all such adjustments are of a normal and recurring nature. The operating results for the three months ended March 31, 2023 are not necessarily representative of the results of future quarterly or annual periods. The following information should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 30, 2022, which was filed with the U.S. Securities and Exchange Commission on February 24, 2023. The unaudited condensed consolidated financial statements include the accounts of Exponent, Inc. and its subsidiaries, which are all wholly owned. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Items subject to such estimates and assumptions include accounting for revenue recognition and estimating the allowance for contract losses and doubtful accounts. Actual results could differ from those estimates.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Revenue Recognition [Abstract]
Revenue Recognition	Note 2: Revenue Recognition Substantially all of the Company’s engagements are performed under time and materials or fixed-price arrangements. For time and materials contracts, the Company utilizes the practical expedient under Accounting Standards Codification 606 – Revenue from Contracts with Customers , which states that if an entity has a right to consideration from a customer in an amount that corresponds directly with the value of the entity’s performance completed to date (for example, a service contract in which an entity bills a fixed amount for each hour of service provided) then the entity may recognize revenue in the amount to which the entity has a right to invoice. The following table discloses the percentage of the Company’s revenue generated from time and materials contracts: Three Months Ended March 31, April 1, Engineering & other scientific 64 % 62 % Environmental and health 16 % 17 % Total time and materials revenues 80 % 79 % For fixed-price contracts, the Company recognizes revenue over time because of the continuous transfer of control to the customer. The customer typically controls the work in process as evidenced either by contractual termination clauses or by the Company’s rights to payment for work performed to date to deliver services that do not have an alternative use to the Company. Revenue for fixed-price contracts is recognized based on the relationship of incurred labor hours at standard rates to the Company’s estimate of the total labor hours at standard rates it expects to incur over the term of the contract. The Company believes this methodology achieves a reliable measure of the revenue from the consulting services it provides to its customers under fixed-price contracts given the nature of the consulting services the Company provides. The following table discloses the percentage of the Company’s revenue generated from fixed price contracts: Three Months Ended March 31, April 1, Engineering & other scientific 19 % 20 % Environmental and health 1 % 1 % Total fixed price revenues 20 % 21 % Deferred revenues represent amounts billed to clients in advance of services provided. During the first quarter of 2023, $ 8,566,000 of revenues were recognized that were included in the deferred revenue balance at December 30, 2022. During the first quarter of 2022, $ 9,644,000 of revenues were recognized that were included in the deferred revenue balance at December 31, 2021. Reimbursements, including those related to travel and other out-of-pocket expenses, and other similar third- party costs such as the cost of materials and certain subcontracts, are included in revenues, and an equivalent amount of reimbursable expenses are included in operating expenses. Any mark-up on reimbursable expenses is included in revenues before reimbursements. The Company reports revenues net of subcontractor fees for certain subcontracts where the Company has determined that it is acting as an agent because its performance obligation is to arrange for the provision of goods or services by another party. The total amount of subcontractor fees not included in revenues because the Company was acting as an agent were $ 5,751,000 and $ 3,660,000 during the first quarter of 2023 and 2022, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3: Fair Value Measurements The Company measures certain financial assets and liabilities at fair value on a recurring basis, including money market securities, trading fixed income and equity securities held in its deferred compensation plan and the liability associated with its deferred compensation plan. There were no transfers between fair value measurement levels during the three months ended March 31, 2023 and April 1, 2022. Any transfers between fair value measurement levels would be recorded on the actual date of the event or change in circumstances that caused the transfer. The fair value of these certain financial assets and liabilities was determined using the following inputs at March 31, 2023 (in thousands): Fair Value Measurements at Reporting Date Using Total Quoted Significant Significant Assets Money market securities (1) $ 52,680 $ 52,680 $ - $ - Fixed income trading securities held in deferred (2) 40,044 40,044 - - Equity trading securities held in deferred compensation (2) 72,287 72,287 - - Total $ 165,011 $ 165,011 $ - $ - Liabilities Deferred compensation plan (3) 113,270 113,270 - - Total $ 113,270 $ 113,270 $ - $ - (1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. (2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. (3) Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet. The fair value of these certain financial assets and liabilities was determined using the following inputs at December 30, 2022 (in thousands): Fair Value Measurements at Reporting Date Using Total Quoted Significant Significant Assets Money market securities (1) $ 52,159 $ 52,159 $ - $ - Fixed income trading securities held in deferred (2) 32,851 32,851 - - Equity trading securities held in deferred compensation (2) 67,880 67,880 - - Total $ 152,890 $ 152,890 $ - $ - Liabilities Deferred compensation plan (3) 101,354 101,354 - - Total $ 101,354 $ 101,354 $ - $ - (1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. (2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. (3) Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet. Money market securities as of March 31, 2023 and December 30, 2022 represent obligations of the United States Treasury. Fixed income and equity trading securities represent mutual funds held in the Company’s deferred compensation plan. See Note 6 for additional information about the Company’s deferred compensation plan. Cash and cash equivalents consisted of the following as of March 31, 2023 (in thousands): Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Classified as current assets: Cash $ 72,969 $ - $ - $ 72,969 Cash equivalents: Money market securities 52,680 - - 52,680 Total cash equivalents 52,680 - - 52,680 Total cash and cash equivalents $ 125,649 $ - $ - $ 125,649 Cash and cash equivalents consisted of the following as of December 30, 2022 (in thousands): Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Classified as current assets: Cash $ 109,299 $ - $ - $ 109,299 Cash equivalents: Money market securities 52,159 - - 52,159 Total cash equivalents 52,159 - - 52,159 Total cash and cash equivalents $ 161,458 $ - $ - $ 161,458 At March 31, 2023 and December 30, 2022, the Company did not have any assets or liabilities valued using significant unobservable inputs. The following financial instruments are not measured at fair value on the Company's unaudited condensed consolidated balance sheet at March 31, 2023 and December 30, 2022, but require disclosure of their fair values: accounts receivable, other assets and accounts payable. The estimated fair value of such instruments at March 31, 2023 and December 30, 2022 approximates their carrying value as reported on the Company’s unaudited condensed consolidated balance sheets.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income Per Share	Note 4: Net Income Per Share Basic per share amounts are computed using the weighted-average number of common shares outstanding during the period. Diluted per share amounts are calculated using the weighted-average number of common shares outstanding during the period and, when dilutive, the weighted-average number of potential common shares from the issuance of common stock to satisfy outstanding restricted stock units and the exercise of outstanding options to purchase common stock using the treasury stock method. The following schedule reconciles the shares used to calculate basic and diluted net income per share: Three Months Ended (In thousands) March 31, April 1, Shares used in basic per share computation 51,132 52,419 Effect of dilutive common stock options 213 205 Effect of dilutive restricted stock units 337 415 Shares used in diluted per share 51,682 53,039 Common stock options to purchase 14,835 shares were excluded from the diluted per share calculation for the three months March 31, 2023 due to their anti-dilutive effect. There were no equity awards excluded from the diluted per share calculation for the three months ended April 1, 2022.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 5: Stock-Based Compensation Restricted Stock Units Restricted stock unit grants are designed to attract and retain employees, and to better align employee interests with those of the Company’s stockholders. For a select group of employees, up to 40 % of their annual bonus is settled with fully vested restricted stock unit awards. Under these fully vested restricted stock unit awards, the holder of each award has the right to receive one share of the Company’s common stock for each fully vested restricted stock unit four years from the date of grant. Each individual who receives a fully vested restricted stock unit award is also granted a matching number of unvested restricted stock unit awards. Unvested restricted stock unit awards are also granted for select new hires and promotions. These unvested restricted stock unit awards generally cliff vest four years from the date of grant, at which time the holder of each award will have the right to receive one share of the Company’s common stock for each restricted stock unit award provided the holder of each award has met certain employment conditions. In the case of retirement at 59½ years or older, all unvested restricted stock unit awards will continue to vest, provided that the holder of each award does all consulting work through the Company and does not become an employee for a past or present client, beneficial party or competitor of the Company. The value of these restricted stock unit awards is determined based on the market price of the Company’s common stock on the date of grant. The value of fully vested restricted stock unit awards issued is recorded as a reduction to accrued bonuses. The portion of bonus expense that the Company expects to settle with fully vested restricted stock unit awards is recorded as stock-based compensation during the period the bonus is earned. The Company recorded stock-based compensation expense associated with accrued bonus awards of $ 2,858,000 and $ 2,776,000 during the three months ended March 31, 2023 and April 1, 2022, respectively. The value of the unvested restricted stock unit awards granted is recognized on a straight-line basis over the shorter of the four-year vesting period or the period between the grant date and the date the award recipient turns 59½. If the award recipient is 59½ years or older on the date of grant, the value of the entire award is expensed upon grant. The Company recorded stock-based compensation expense associated with the unvested restricted stock unit awards of $ 3,981,000 and $ 3,895,000 during the three months ended March 31, 2023 and April 1, 2022, respectively. Stock Options Stock options are granted for terms of ten years and generally vest 25 % per year over a four-year period from the grant date. Unvested stock option awards will continue to vest in the case of retirement at 59½ years or older, provided that the holder of each award does all consulting work through the Company and does not become an employee for a past or present client, beneficial party or competitor of the Company. The value of the unvested stock option awards granted is recognized on a straight-line basis over the shorter of the four-year vesting period or the period between the grant date and the date the award recipient turns 59½ . If the award recipient is 59½ years or older on the date of grant, the value of the entire award is expensed upon grant. The Company recorded stock-based compensation expense associated with stock option grants of $ 224,000 and $ 199,000 during the three months ended March 31, 2023 and April 1, 2022, respectively. The Company uses the Black-Scholes option-pricing model to determine the fair value of options granted. The determination of the fair value of stock option awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables. These variables include expected stock price volatility over the term of the award, actual and projected employee stock option exercise behaviors, the risk-free interest rate and expected dividends. The Company used historical exercise, forfeiture, and post-vesting expiration data to estimate the expected term of options granted. The historical volatility of the Company’s common stock over a period of time equal to the expected term of the options granted was used to estimate expected volatility. The risk-free interest rate used in the option-pricing model was based on United States Treasury zero-coupon issues with remaining terms similar to the expected term of the options. The dividend yield assumption considers the expectation of continued declaration of dividends, offset by option holders’ dividend equivalent rights. The Company accounts for forfeitures of stock-based awards when they occur. All stock-based payment awards are recognized on a straight-line basis over the requisite service periods of the awards.

Deferred Compensation Plans

Deferred Compensation Plans	3 Months Ended
	Mar. 31, 2023
Deferred Compensation Arrangements [Abstract]
Deferred Compensation Plans	Note 6: Deferred Compensation Plans The Company maintains nonqualified deferred compensation plans for the benefit of a select group of highly compensated employees. Under these plans, participants may elect to defer up to 100 % of their compensation. Company assets that are earmarked to pay benefits under the plans are held in a rabbi trust and are subject to the claims of the Company’s creditors. As of March 31, 2023, and December 30, 2022 the invested amounts under the plans totaled $ 112,331,000 and $ 100,731,000 , respectively, and are recorded in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. These assets are classified as trading securities and are recorded at fair value with changes recorded as adjustments to miscellaneous income (loss), net. As of March 31, 2023, and December 30, 2022 vested amounts due under the plans totaled $ 113,270,000 and $ 101,354,000 , respectively, and are recorded within accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheets. Changes in the liability are recorded as adjustments to compensation expense. During the three months ended March 31, 2023, the Company recognized additional compensation expense of $ 3,918,000 as a result of changes in the market value of the trust assets with the same amount being recorded as income in miscellaneous income (loss), net. During the three months ended April 1, 2022, the Company recognized a reduction to compensation expense of $( 4,699,000 ) as a result of changes in the market value of the trust assets with the same amount being recorded as a loss in miscellaneous income (loss), net.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Note 7: Supplemental Cash Flow Information The following is supplemental disclosure of cash flow information: Three Months Ended (In thousands) March 31, April 1, Cash paid during period: Income taxes $ 1,263 $ 852 Non-cash investing and financing activities: Vested stock unit awards issued to settle accrued bonuses $ 10,497 $ 10,200 Accrual for capital expenditures $ 1,210 $ 602 Right-of-use asset obtained in exchange for operating lease obligations $ - $ 4,011

Accounts Receivable, Net

Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Accounts Receivable, Net	Note 8: Accounts Receivable, Net At March 31, 2023 and December 30, 2022, accounts receivable, net, was comprised of the following: March 31, December 30, (In thousands) 2023 2022 Billed accounts receivable $ 119,949 $ 120,212 Unbilled accounts receivable 60,184 56,095 Allowance for contract losses and doubtful accounts ( 7,069 ) ( 6,193 ) Total accounts receivable, net $ 173,064 $ 170,114 The Company maintains allowances for estimated losses over the remaining contractual life of its receivables resulting from the inability of customers to meet their financial obligations or for disputes that affect the Company’s ability to fully collect amounts due. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations or aware of a dispute with a specific customer, a specific allowance is recorded to reduce the net recognized receivable to the amount the Company reasonably believes will be collected. For all other customers the Company recognizes allowances for doubtful accounts based upon historical write-offs, customer concentration, customer creditworthiness, current economic conditions, aging of amounts due and future expectations. A reconciliation of the beginning and ending amount of the allowance for contract losses and doubtful accounts is as follows (in thousands): Balance at December 30, 2022 $ 6,193 Provision for contract losses and doubtful accounts 892 Write-offs ( 16 ) Balance at March 31, 2023 $ 7,069

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Reporting	Note 9: Segment Reporting The Company has two reportable operating segments based on two primary areas of service. The Engineering and Other Scientific segment is a broad service group providing technical consulting in different practices primarily in engineering. The Environmental and Health segment provides services in the areas of environmental, epidemiology and health risk analysis. This segment provides a wide range of consulting services relating to environmental hazards and risks and the impact on both human health and the environment. Our Chief Executive Officer, the chief operating decision maker, reviews revenues and operating income for each of our reportable segments, but does not review total assets in evaluating segment performance and capital allocation. Segment information for the three months ended March 31, 2023 and April 1, 2022 follows: Revenues Three Months Ended (In thousands) March 31, April 1, Engineering and Other Scientific $ 117,048 $ 104,615 Environmental and Health 23,261 23,863 Total revenues $ 140,309 $ 128,478 Operating Income Three Months Ended (In thousands) March 31, April 1, Engineering and Other Scientific $ 43,619 $ 38,490 Environmental and Health 7,554 7,835 Total segment operating income 51,173 46,325 Corporate operating expense ( 22,053 ) ( 9,608 ) Total operating income $ 29,120 $ 36,717 Certain operating expenses are excluded from the Company’s measure of segment operating income. These expenses include costs associated with its human resources, finance, information technology, and business development groups; the deferred compensation expense/benefit due to the change in value of assets associated with its deferred compensation plan; stock-based compensation associated with restricted stock unit and stock option awards; and the change in its allowance for contract losses and doubtful accounts. Capital Expenditures Three Months Ended (In thousands) March 31, April 1, Engineering and Other Scientific $ 1,408 $ 564 Environmental and Health 95 50 Total segment capital expenditures 1,503 614 Corporate capital expenditures 4,358 2,181 Total capital expenditures $ 5,861 $ 2,795 Certain capital expenditures associated with the Company’s corporate cost centers and the related depreciation are excluded from the Company’s segment information. Depreciation and Amortization Three Months Ended (In thousands) March 31, April 1, Engineering and Other Scientific $ 1,306 $ 1,039 Environmental and Health 48 42 Total segment depreciation and amortization 1,354 1,081 Corporate depreciation and amortization 634 608 Total depreciation and amortization $ 1,988 $ 1,689 One client comprised 13 % of the Company’s revenues during the three months ended March 31, 2023. One client comprised 13 % of the Company’s revenues during the three months ended April 1, 2022. No other single client comprised more than 10% of the Company’s revenues during the three months ended March 31, 2023 or April 1, 2022.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Note 10: Leases The Company determines if an arrangement is a lease at the inception of the arrangement. Operating leases are included in operating lease right-of-use (“ROU”) assets, current operating lease liabilities, and long-term operating lease liabilities in the Company’s condensed consolidated balance sheet. The Company does not have any finance leases as of March 31, 2023. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate, based on the information available at commencement date, in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The amortization of operating lease ROU assets and the change in operating lease liabilities is disclosed as a single line item in the condensed consolidated statements of cash flows. The Company leases office, laboratory, and storage space in 13 states and the District of Columbia, as well as in China, Hong Kong, Singapore, Switzerland, and the United Kingdom. Leases for these office, laboratory, and storage facilities have terms generally ranging between one and ten years . Some of these leases include options to extend or terminate the lease, none of which are currently included in the lease term as the Company has determined that exercise of these options is not reasonably certain. The Company has a Test and Engineering Center on 147 acres of land in Phoenix, Arizona. The Company leases this land from the state of Arizona under a 30 -year lease agreement that expires in January of 2028 and has options to renew for two fifteen-year periods. As of March 31, 2023, the Company has determined that exercise of the renewal options is not reasonably certain and thus the extension is not included in the lease term. The Company’s equipment leases are included in the ROU asset and liability balances, but are not material. The Company leases excess space in its Silicon Valley and Natick facilities. Rental income of $ 756,000 and $ 644,000 was included in other income for the three months ended March 31, 2023 and April 1, 2022, respectively. The components of lease expense included in other operating expenses on the condensed consolidated statements of income were as follows: Three Months Ended Three Months Ended (In thousands) March 31, April 1, Operating lease cost $ 1,787 $ 1,767 Variable lease cost 370 312 Short-term lease cost 276 129 Supplemental cash flow information related to operating leases was as follows: Three Months Ended Three Months Ended (In thousands) March 31, April 1, Cash paid for amounts included in the measurement of operating $ 2,364 $ 2,201 Supplemental balance sheet information related to operating leases was as follows: March 31, April 1, 2022 Weighted Average Remaining Lease Term 3.8 years 4.3 years Weighted Average Discount Rate 4.3 % 3.9 % Maturities of operating lease liabilities as of March 31, 2023: (In thousands) Operating Leases 2023 (excluding the three months ended March 31, 2023) 3,752 2024 4,712 2025 3,953 2026 3,234 2027 2,659 2028 132 Total lease payments $ 18,442 Less imputed interest ( 1,993 ) Total lease liability $ 16,449

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 11: Contingencies The Company is a party to various legal actions from time to time and may be contingently liable in connection with claims and contracts arising in the normal course of business, the outcome of which the Company believes, after consultation with legal counsel, will not have a material adverse effect on its financial condition, results of operations or liquidity. However, due to the risks and uncertainties inherent in legal proceedings, actual results could differ from current expected results. All legal costs associated with litigation are expensed as incurred.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 12: Subsequent Events On April 27, 2023 , the Company’s Board of Directors announced a cash dividend of $ 0.26 per share of the Company’s common stock, payable June 23, 2023 , to stockholders of record as of June 9, 2023 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Exponent, Inc. (referred to as the “Company” or “Exponent”) is an engineering and scientific consulting firm that provides solutions to complex problems. The Company operates on a 52-53 week fiscal year ending on the Friday closest to the last day of December. The accompanying unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission. Accordingly, they do not contain all the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments which are necessary for the fair presentation of the condensed consolidated financial statements have been included and all such adjustments are of a normal and recurring nature. The operating results for the three months ended March 31, 2023 are not necessarily representative of the results of future quarterly or annual periods. The following information should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 30, 2022, which was filed with the U.S. Securities and Exchange Commission on February 24, 2023. The unaudited condensed consolidated financial statements include the accounts of Exponent, Inc. and its subsidiaries, which are all wholly owned. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Items subject to such estimates and assumptions include accounting for revenue recognition and estimating the allowance for contract losses and doubtful accounts. Actual results could differ from those estimates.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue Recognition [Abstract]
Summary of Percent of Revenues	The following table discloses the percentage of the Company’s revenue generated from time and materials contracts: Three Months Ended March 31, April 1, Engineering & other scientific 64 % 62 % Environmental and health 16 % 17 % Total time and materials revenues 80 % 79 % The following table discloses the percentage of the Company’s revenue generated from fixed price contracts: Three Months Ended March 31, April 1, Engineering & other scientific 19 % 20 % Environmental and health 1 % 1 % Total fixed price revenues 20 % 21 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The fair value of these certain financial assets and liabilities was determined using the following inputs at March 31, 2023 (in thousands): Fair Value Measurements at Reporting Date Using Total Quoted Significant Significant Assets Money market securities (1) $ 52,680 $ 52,680 $ - $ - Fixed income trading securities held in deferred (2) 40,044 40,044 - - Equity trading securities held in deferred compensation (2) 72,287 72,287 - - Total $ 165,011 $ 165,011 $ - $ - Liabilities Deferred compensation plan (3) 113,270 113,270 - - Total $ 113,270 $ 113,270 $ - $ - (1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. (2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. (3) Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet. The fair value of these certain financial assets and liabilities was determined using the following inputs at December 30, 2022 (in thousands): Fair Value Measurements at Reporting Date Using Total Quoted Significant Significant Assets Money market securities (1) $ 52,159 $ 52,159 $ - $ - Fixed income trading securities held in deferred (2) 32,851 32,851 - - Equity trading securities held in deferred compensation (2) 67,880 67,880 - - Total $ 152,890 $ 152,890 $ - $ - Liabilities Deferred compensation plan (3) 101,354 101,354 - - Total $ 101,354 $ 101,354 $ - $ - (1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. (2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet. (3) Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet.
Cash and Cash Equivalents	Cash and cash equivalents consisted of the following as of March 31, 2023 (in thousands): Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Classified as current assets: Cash $ 72,969 $ - $ - $ 72,969 Cash equivalents: Money market securities 52,680 - - 52,680 Total cash equivalents 52,680 - - 52,680 Total cash and cash equivalents $ 125,649 $ - $ - $ 125,649 Cash and cash equivalents consisted of the following as of December 30, 2022 (in thousands): Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Classified as current assets: Cash $ 109,299 $ - $ - $ 109,299 Cash equivalents: Money market securities 52,159 - - 52,159 Total cash equivalents 52,159 - - 52,159 Total cash and cash equivalents $ 161,458 $ - $ - $ 161,458

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Reconciles Shares to Calculate Basic and Diluted Net Income Per Share	The following schedule reconciles the shares used to calculate basic and diluted net income per share: Three Months Ended (In thousands) March 31, April 1, Shares used in basic per share computation 51,132 52,419 Effect of dilutive common stock options 213 205 Effect of dilutive restricted stock units 337 415 Shares used in diluted per share 51,682 53,039

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosure of Cash Flow Information	The following is supplemental disclosure of cash flow information: Three Months Ended (In thousands) March 31, April 1, Cash paid during period: Income taxes $ 1,263 $ 852 Non-cash investing and financing activities: Vested stock unit awards issued to settle accrued bonuses $ 10,497 $ 10,200 Accrual for capital expenditures $ 1,210 $ 602 Right-of-use asset obtained in exchange for operating lease obligations $ - $ 4,011

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Accounts Receivable, Net	At March 31, 2023 and December 30, 2022, accounts receivable, net, was comprised of the following: March 31, December 30, (In thousands) 2023 2022 Billed accounts receivable $ 119,949 $ 120,212 Unbilled accounts receivable 60,184 56,095 Allowance for contract losses and doubtful accounts ( 7,069 ) ( 6,193 ) Total accounts receivable, net $ 173,064 $ 170,114
Reconciliation of Beginning and Ending Amount of Allowance for Contract Losses and Doubtful Accounts	A reconciliation of the beginning and ending amount of the allowance for contract losses and doubtful accounts is as follows (in thousands): Balance at December 30, 2022 $ 6,193 Provision for contract losses and doubtful accounts 892 Write-offs ( 16 ) Balance at March 31, 2023 $ 7,069

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	Segment information for the three months ended March 31, 2023 and April 1, 2022 follows: Revenues Three Months Ended (In thousands) March 31, April 1, Engineering and Other Scientific $ 117,048 $ 104,615 Environmental and Health 23,261 23,863 Total revenues $ 140,309 $ 128,478 Operating Income Three Months Ended (In thousands) March 31, April 1, Engineering and Other Scientific $ 43,619 $ 38,490 Environmental and Health 7,554 7,835 Total segment operating income 51,173 46,325 Corporate operating expense ( 22,053 ) ( 9,608 ) Total operating income $ 29,120 $ 36,717 Certain operating expenses are excluded from the Company’s measure of segment operating income. These expenses include costs associated with its human resources, finance, information technology, and business development groups; the deferred compensation expense/benefit due to the change in value of assets associated with its deferred compensation plan; stock-based compensation associated with restricted stock unit and stock option awards; and the change in its allowance for contract losses and doubtful accounts. Capital Expenditures Three Months Ended (In thousands) March 31, April 1, Engineering and Other Scientific $ 1,408 $ 564 Environmental and Health 95 50 Total segment capital expenditures 1,503 614 Corporate capital expenditures 4,358 2,181 Total capital expenditures $ 5,861 $ 2,795 Certain capital expenditures associated with the Company’s corporate cost centers and the related depreciation are excluded from the Company’s segment information. Depreciation and Amortization Three Months Ended (In thousands) March 31, April 1, Engineering and Other Scientific $ 1,306 $ 1,039 Environmental and Health 48 42 Total segment depreciation and amortization 1,354 1,081 Corporate depreciation and amortization 634 608 Total depreciation and amortization $ 1,988 $ 1,689

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Lease, Cost	The components of lease expense included in other operating expenses on the condensed consolidated statements of income were as follows: Three Months Ended Three Months Ended (In thousands) March 31, April 1, Operating lease cost $ 1,787 $ 1,767 Variable lease cost 370 312 Short-term lease cost 276 129
Supplemental Cash Flow Information Related to Operating Lease	Supplemental cash flow information related to operating leases was as follows: Three Months Ended Three Months Ended (In thousands) March 31, April 1, Cash paid for amounts included in the measurement of operating $ 2,364 $ 2,201
Supplemental Balance Sheet Information Related to Operating Lease	Supplemental balance sheet information related to operating leases was as follows: March 31, April 1, 2022 Weighted Average Remaining Lease Term 3.8 years 4.3 years Weighted Average Discount Rate 4.3 % 3.9 %
Maturities of Lease Liabilities	Maturities of operating lease liabilities as of March 31, 2023: (In thousands) Operating Leases 2023 (excluding the three months ended March 31, 2023) 3,752 2024 4,712 2025 3,953 2026 3,234 2027 2,659 2028 132 Total lease payments $ 18,442 Less imputed interest ( 1,993 ) Total lease liability $ 16,449

Revenue Recognition - Summary o

Revenue Recognition - Summary of Revenues (Detail) - Sales Revenue, Net [Member] - Revenue from Rights Concentration Risk [Member]	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Time And Materials Contracts [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	80%	79%
Time And Materials Contracts [Member] | Engineering and Other Scientific [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	64%	62%
Time And Materials Contracts [Member] | Environmental and Health [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	16%	17%
Fixed Price Contracts [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	20%	21%
Fixed Price Contracts [Member] | Engineering and Other Scientific [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	19%	20%
Fixed Price Contracts [Member] | Environmental and Health [Member]
Disaggregation Of Revenue [Line Items]
Concentration Risk, Percentage	1%	1%

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Revenue Recognition [Abstract]
Deferred Revenue, Revenue Recognized	$ 8,566,000	$ 9,644,000
Subcontractor Fees Not Included In Revenues	$ 5,751,000	$ 3,660,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)		Mar. 31, 2023	Dec. 30, 2022
Assets
Trading securities held in deferred compensation plan		$ 112,331,000	$ 100,731,000
Total		165,011,000	152,890,000
Liabilities
Deferred compensation plan	[1]	113,270,000	101,354,000
Total		113,270,000	101,354,000
Money market securities
Assets
Money market securities	[2]	52,680,000	52,159,000
Fixed income securities
Assets
Trading securities held in deferred compensation plan	[3]	40,044,000	32,851,000
Equity securities
Assets
Trading securities held in deferred compensation plan	[3]	72,287,000	67,880,000
Fair Value, Inputs, Level 1
Assets
Total		165,011,000	152,890,000
Liabilities
Deferred compensation plan	[1]	113,270,000	101,354,000
Total		113,270,000	101,354,000
Fair Value, Inputs, Level 1 | Money market securities
Assets
Money market securities	[2]	52,680,000	52,159,000
Fair Value, Inputs, Level 1 | Fixed income securities
Assets
Trading securities held in deferred compensation plan	[3]	40,044,000	32,851,000
Fair Value, Inputs, Level 1 | Equity securities
Assets
Trading securities held in deferred compensation plan	[3]	72,287,000	67,880,000
Fair Value, Inputs, Level 2
Assets
Total		0	0
Liabilities
Deferred compensation plan	[1]	0	0
Total		0	0
Fair Value, Inputs, Level 2 | Money market securities
Assets
Money market securities	[2]	0	0
Fair Value, Inputs, Level 2 | Fixed income securities
Assets
Trading securities held in deferred compensation plan	[3]	0	0
Fair Value, Inputs, Level 2 | Equity securities
Assets
Trading securities held in deferred compensation plan	[3]	0	0
Fair Value, Inputs, Level 3
Assets
Total		0	0
Liabilities
Deferred compensation plan	[1]	0	0
Total		0	0
Fair Value, Inputs, Level 3 | Money market securities
Assets
Money market securities	[2]	0	0
Fair Value, Inputs, Level 3 | Fixed income securities
Assets
Trading securities held in deferred compensation plan	[3]	0	0
Fair Value, Inputs, Level 3 | Equity securities
Assets
Trading securities held in deferred compensation plan	[3]	$ 0	$ 0
[1] Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet. Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet. Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet.

Fair Value Measurements - Cash

Fair Value Measurements - Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Cash
Fair Value Measurements [Line Items]
Amortized Cost	$ 72,969	$ 109,299
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	72,969	109,299
Money market securities
Fair Value Measurements [Line Items]
Amortized Cost	52,680	52,159
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	52,680	52,159
Total cash equivalents
Fair Value Measurements [Line Items]
Amortized Cost	52,680	52,159
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	52,680	52,159
Total cash and cash equivalents
Fair Value Measurements [Line Items]
Amortized Cost	125,649	161,458
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 125,649	$ 161,458

Reconciles the Denominators of

Reconciles the Denominators of the Company's Calculation for Basic and Diluted Net Income per Share (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Schedule Of Earnings Per Share Basic and Diluted [Line Items]
Shares used in basic per share computation	51,132	52,419
Shares used in diluted per share computation	51,682	53,039
Employee Stock Option
Schedule Of Earnings Per Share Basic and Diluted [Line Items]
Effect of dilutive stock outstanding	213	205
Restricted Stock Units (RSUs)
Schedule Of Earnings Per Share Basic and Diluted [Line Items]
Effect of dilutive stock outstanding	337	415

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	14,835	0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual bonus settled with fully vested restricted stock unit awards	40%
Vested Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, vesting period	4 years
Stock based compensation expense	$ 2,858,000	$ 2,776,000
Unvested Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, vesting period	4 years
Unvested Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 3,981,000	3,895,000
Unvested Restricted Stock Awards | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient age to expense award on grant date	59 years 6 months
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, vesting period	4 years
Stock based compensation expense	$ 224,000	$ 199,000
Share Based Compensation Arrangement By Share Based Payment Award Options Expiration Term	10 years
Vesting percentage of stock options granted per year	25%
Unvested Stock Options | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient age to expense award on grant date	59 years 6 months

Deferred Compensation Plans - A

Deferred Compensation Plans - Additional Information (Detail) - USD ($)		3 Months Ended
		Mar. 31, 2023	Apr. 01, 2022	Dec. 30, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Trading securities held in deferred compensation plan		$ 112,331,000		$ 100,731,000
Deferred compensation plan	[1]	113,270,000		$ 101,354,000
Change in market value of trust assets		$ 3,918,000	$ (4,699,000)
Maximum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Percentage of compensation deferred		100%
[1] Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet.

Supplemental Disclosure of Cash

Supplemental Disclosure of Cash Flow Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Cash paid during period:
Income taxes	$ 1,263	$ 852
Non-cash investing and financing activities:
Vested stock unit awards issued to settle accrued bonuses	10,497	10,200
Accrual for capital expenditures as of period end	1,210	602
Right-of-use asset obtained in exchange for operating lease obligations	$ 0	$ 4,011

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Accounts Notes And Loans Receivable [Line Items]
Allowance for contract losses and doubtful accounts	$ (7,069)	$ (6,193)
Total accounts receivable, net	173,064	170,114
Billed accounts receivable
Accounts Notes And Loans Receivable [Line Items]
Accounts Receivable	119,949	120,212
Unbilled accounts receivable
Accounts Notes And Loans Receivable [Line Items]
Accounts Receivable	$ 60,184	$ 56,095

Accounts Receivable, Net - Reco

Accounts Receivable, Net - Reconciliation of Beginning and Ending Amount of Allowance for Contract Losses and Doubtful Accounts (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Receivables [Abstract]
Balance at December 30, 2022	$ 6,193
Provision for contract losses and doubtful accounts	892	$ 686
Write-offs	(16)
Balance at March 31, 2023	$ 7,069

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Segment Reporting Information [Line Items]
Revenues	$ 140,309	$ 128,478
Operating Income	29,120	36,717
Capital Expenditures	5,861	2,795
Depreciation and Amortization	1,988	1,689
Operating segments
Segment Reporting Information [Line Items]
Operating Income	51,173	46,325
Capital Expenditures	1,503	614
Depreciation and Amortization	1,354	1,081
Corporate
Segment Reporting Information [Line Items]
Operating Income	(22,053)	(9,608)
Capital Expenditures	4,358	2,181
Depreciation and Amortization	634	608
Engineering and Other Scientific | Operating segments
Segment Reporting Information [Line Items]
Revenues	117,048	104,615
Operating Income	43,619	38,490
Capital Expenditures	1,408	564
Depreciation and Amortization	1,306	1,039
Environmental and Health | Operating segments
Segment Reporting Information [Line Items]
Revenues	23,261	23,863
Operating Income	7,554	7,835
Capital Expenditures	95	50
Depreciation and Amortization	$ 48	$ 42

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 Client Segment	Apr. 01, 2022 Client
Segment Reporting Information [Line Items]
Number of reportable operating segments | Segment	2
Sales Revenue, Net [Member] | Revenue from Rights Concentration Risk [Member] | Single Client [Member]
Segment Reporting Information [Line Items]
Number of clients comprised more than 10% of revenue or accounts receivable	1	1
Concentration Risk, Percentage	13%	13%
Sales Revenue, Net [Member] | Revenue from Rights Concentration Risk [Member] | Other Client [Member]
Segment Reporting Information [Line Items]
Number of clients comprised more than 10% of revenue or accounts receivable	0	0

Leases - Additional Information

Leases - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 USD ($) a Option State	Apr. 01, 2022 USD ($)
Other Income [Member]
Lessee Lease Description [Line Items]
Rental Income | $	$ 756,000	$ 644,000
Office, Laboratory, and Storage Space [Member]
Lessee Lease Description [Line Items]
Number of States in which Entity Has Lease Arrangements | State	13
Office, Laboratory, and Storage Space [Member] | Minimum
Lessee Lease Description [Line Items]
Lessee, Operating Lease, Term of Contract	1 year
Office, Laboratory, and Storage Space [Member] | Maximum
Lessee Lease Description [Line Items]
Lessee, Operating Lease, Term of Contract	10 years
Phoenix Arizona [Member]
Lessee Lease Description [Line Items]
Lessee, Operating Lease, Term of Contract	30 years
Area of Land | a	147
Number of Options to Renew Lease | Option	2
Lessee, Operating Lease, Renewal Term	15 years

Components of Lease Expense (De

Components of Lease Expense (Detail) - Other Operating Income (Expense) [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Operating lease cost	$ 1,787	$ 1,767
Variable lease cost	370	312
Short-term lease cost	$ 276	$ 129

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information Related to Operating Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows from operating leases	$ 2,364	$ 2,201

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information Related to Operating Leases (Detail)	Mar. 31, 2023	Apr. 01, 2022
Leases [Abstract]
Weighted Average Remaining Lease Term	3 years 9 months 18 days	4 years 3 months 18 days
Weighted Average Discount Rate	4.30%	3.90%

Maturities of Lease Liabilities

Maturities of Lease Liabilities (Detail) $ in Thousands	Mar. 31, 2023 USD ($)
Leases [Abstract]
2023 (excluding the three months ended March 31, 2023)	$ 3,752
2024	4,712
2025	3,953
2026	3,234
2027	2,659
2028	132
Total lease payments	18,442
Less imputed interest	(1,993)
Total lease liability	$ 16,449

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares		3 Months Ended
	Apr. 27, 2023	Mar. 31, 2023	Apr. 01, 2022
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)		$ 0.26	$ 0.24
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)	$ 0.26
Dividends Payable, Date Declared	Apr. 27, 2023
Dividends Payable, Date to be Paid	Jun. 23, 2023
Dividends Payable, Date of Record	Jun. 09, 2023