CRA INTERNATIONAL, INC.CRAI

CRA INTERNATIONAL, INC. Leases Disclosure

10-KFiled Feb 26, 20262 min read
Leases
The components of CRA's lease expenses, which are included in the consolidated statements of operations, are as follows (in thousands):
Year EndedYear EndedYear Ended
January 3,
2026
(53 weeks)
December 28,
2024
(52 weeks)
December 30,
2023
(52 weeks)
Operating lease cost$19,597 $19,156 $18,783 
Short-term lease cost428 327 371 
Variable lease cost9,195 7,923 6,960 
Total lease cost$29,220 $27,406 $26,114 
The following table presents summary information for CRA's lease terms and discount rates for its operating leases:
January 3,
2026		December 28,
2024		December 30,
2023
Weighted average remaining lease term—operating leases5.5 years5.7 years5.8 years
Weighted average discount rate—operating leases4.3 %3.9 %3.6 %
At January 3, 2026, CRA had the following maturities of lease liabilities related to office space, all of which are under non-cancellable operating leases (in thousands):
Fiscal YearOperating Lease
Commitments
2026$20,595 
202723,310 
202818,347 
202916,771 
203012,757 
Thereafter18,438 
Total lease payments110,218 
Less: imputed interest(16,986)
Total$93,232 
Certain of our operating leases have terms that impose asset retirement obligations due to office modifications or the periodic redecoration of the premises, which are included in accrued expenses and deferred compensation and other non-current liabilities in our consolidated balance sheet. As of January 3, 2026 and December 28, 2024, these redecoration and asset retirement obligations were approximately $2.6 million and $2.4 million, respectively.
As of January 3, 2026, CRA had no additional operating leases that had not yet commenced.

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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