8. Goodwill

In accordance with ASC Topic 350, Intangibles—Goodwill and Other, goodwill is not subject to amortization, but is monitored at least annually for impairment, or more frequently, as necessary, if events or circumstances exist that would more likely than not reduce the fair value of a reporting unit below its carrying amount. CRA has two reporting units, CRA's consulting business and NeuCo. CRA considered the features of each business as well as the extent CRA's chief operating decision maker oversees the financial results and operations of each reporting unit. Under ASC Topic 350, in performing the first step of the goodwill impairment testing and measurement process, the estimated fair value of each reporting unit is compared to its net book value to identify potential impairment. Management estimates the fair value of CRA's consulting business utilizing CRA's market capitalization, plus an appropriate control premium less the estimated fair value of NeuCo. Market capitalization is determined by multiplying the shares outstanding on the test date by the market price of CRA's common stock on that date. CRA has utilized a control premium that considers appropriate industry, market and other pertinent factors, including indications of such premiums from data on recent acquisition transactions. The fair value of NeuCo has been determined using an income approach which measures the value of the enterprise based on an expected stream of earnings over time. If the estimated fair value of a reporting unit is less than its net book value, the second step is performed to determine if goodwill is impaired. If through the impairment evaluation process a reporting unit determines that goodwill has been impaired, an impairment charge would be recorded in the consolidated income statements.

There were no impairment losses related to goodwill during each of the fiscal year-to-date periods ended October 3, 2015 or September 27, 2014.

CRA continues to monitor the fair value of its reporting units. If the fair value of a reporting unit is below its net book value for a period considered to be other-than-temporary, it is possible that CRA may be required to record an impairment of goodwill either as a result of the annual assessment that CRA conducts in the fourth quarter of each fiscal year, or in a future quarter if events or circumstances exist that would more likely than not reduce a reporting unit's fair value below its carrying amount. A goodwill impairment charge would have the effect of decreasing CRA's earnings in such period.

The changes in the carrying amount of goodwill during the fiscal year- to-date period ended October 3, 2015, are as follows (in thousands):

	Goodwill, gross			Accumulated impairment losses			Goodwill, net
Balance at January 3, 2015	$	154,196		$	(71,893	)	$	82,303
Effect of foreign currency translation		(389	)		—			(389	)

Balance at October 3, 2015	$	153,807		$	(71,893	)	$	81,914

The changes in the carrying amount of goodwill during the fiscal year- to-date period ended January 3, 2015, are as follows (in thousands):

	Goodwill, gross			Accumulated impairment losses			Goodwill, net
Balance at December 28, 2013	$	153,466		$	(71,893	)	$	81,573
Goodwill adjustments related to acquisitions		1,797			—			1,797
Effect of foreign currency translation		(1,067	)		—			(1,067	)

Balance at January 3, 2015	$	154,196		$	(71,893	)	$	82,303