Forgivable Loans

6 Months Ended

Jun. 28, 2025

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 forgivable loans have terms that are generally between two and eight years with interest rates currently between 0.43% and 5.12%. 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. During the fiscal year-to-date period ended June 28, 2025 and fiscal year 2024 there were no balances due under these loans for which the full principal and interest were not forgiven or not collected upon termination of employment or affiliation with CRA. The forgiveness of the principal amount of the loans is recorded as compensation 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):


	June 28, 2025		December 28, 2024
Beginning balance	$	55,492	$	53,941
Advances	40,938		45,494
Repayments	(600)		(2,761)
Reclassifications from accrued expenses or to other assets (1)	—		(9,989)
Amortization (2)	(14,080)		(31,055)
Effects of foreign currency translation	564		(138)
Ending balance	$	82,314	$	55,492
Current portion of forgivable loans	$	17,961	$	6,535
Non-current portion of forgivable loans	$	64,353	$	48,957

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(1)Relates to the reclassification of performance awards previously recorded as accrued expenses or forgivable loans that have been reclassified to other receivables.

(2)During the fiscal year-to-date period ended June 28, 2025 and fiscal year ended December 28, 2024, approximately $0.04 million and $5.7 million, respectively, of amortization was accelerated due to involuntary terminations.

CRA INTERNATIONAL, INC. 10-Q