XML 24 R14.htm IDEA: XBRL DOCUMENT v3.22.2
Goodwill and Intangible Assets
6 Months Ended
Jul. 02, 2022
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 2, 2022 are summarized as follows (in thousands):
Goodwill$160,829 
Accumulated goodwill impairment(71,893)
Goodwill, net at January 1, 202288,936 
Additions due to acquisitions2,409 
Foreign currency translation adjustment(1,382)
Goodwill, net at July 2, 2022$89,963 
Goodwill at July 2, 2022, is comprised of goodwill of $161.9 million and accumulated impairment of $71.9 million. There were no impairment losses related to goodwill during the fiscal year-to-date period ended July 2, 2022 or during the fiscal year ended January 1, 2022.
Intangible assets that are separable from goodwill and have determinable useful lives are valued separately and amortized using the straight-line method over their expected useful lives. The components of acquired identifiable intangible assets are as follows (in thousands):
July 2, 2022January 1, 2022
Useful Life
(in years)
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Non-competition agreements5$— $— $— $280 $(275)$
Customer relationships
10
12,370 (4,593)7,777 8,220 (4,044)4,176 
Total$12,370 $(4,593)$7,777 $8,500 $(4,319)$4,181 
There were no impairment losses related to intangible assets during the fiscal year-to-date period ended July 2, 2022 or during the fiscal year ended January 1, 2022. As a result of the Welch Consulting acquisition, CRA recognized approximately
$4.2 million of intangible assets related to customer relationships in the first quarter of fiscal 2022. Amortization expense related to intangible assets was $0.3 million and $0.6 million for the fiscal quarter and fiscal year-to-date period ended July 2, 2022, respectively, and $0.2 million and $0.5 million for the fiscal quarter and fiscal year-to-date period ended July 3, 2021, respectively.