EXPONENT INC, 10-K filed on 2/28/2025
Annual Report
v3.25.0.1
Document and Entity Information - USD ($)
$ in Billions
 12 Months Ended
Jan. 03, 2025
Feb. 21, 2025
Jun. 28, 2024
Cover [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Jan. 03, 2025    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Entity Registrant Name EXPONENT, INC.    
Entity Central Index Key 0000851520    
Current Fiscal Year End Date --01-03    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Filer Category Large Accelerated Filer    
Entity Public Float     $ 3.7
Trading Symbol EXPO    
Entity Common Stock, Shares Outstanding   50,818,234  
Entity Shell Company false    
Entity Emerging Growth Company false    
Entity Small Business 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 Annual Report true    
Document Transition Report false    
ICFR Auditor Attestation Flag true    
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    
Auditor Firm ID 185    
Auditor Name KPMG, LLP    
Auditor Location San Francisco, California    
Document Financial Statement Error Correction [Flag] false    
Documents Incorporated by Reference

Portions of the registrant’s Definitive Proxy Statement for the registrant’s 2025 Annual Meeting of Stockholders to be held on June 5, 2025 are incorporated by reference into Part III of this Annual Report on Form 10-K.

    
Auditor Opinion

Opinions on the Consolidated Financial Statements and Internal Control Over Financial Reporting

We have audited the accompanying consolidated balance sheets of Exponent, Inc. and subsidiaries (the Company) as of January 3, 2025 and December 29, 2023, the related consolidated statements of income, comprehensive income, stockholders’ equity, and cash flows for each of the fiscal years in the three-year period ended January 3, 2025, and the related notes and financial statement schedule II (collectively, the consolidated financial statements). We also have audited the Company’s internal control over financial reporting as of January 3, 2025, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

 

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of January 3, 2025 and December 29, 2023, and the results of its operations and its cash flows for each of the fiscal years in the three-year period ended January 3, 2025, in conformity with U.S. generally accepted accounting principles. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of January 3, 2025 based on criteria established in Internal Control – Integrated Framework (2013)issued by the Committee of Sponsoring Organizations of the Treadway Commission.

    
v3.25.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Revenues:      
Revenues before reimbursements $ 518,490 $ 497,189 $ 463,820
Reimbursements 40,024 39,577 49,473
Revenues 558,514 536,766 513,293
Operating expenses:      
Compensation and related expenses 330,011 319,886 264,235
Other operating expenses 46,196 41,541 35,083
Reimbursable expenses 40,024 39,577 49,473
General and administrative expenses 22,726 24,440 23,660
Total operating expenses 438,957 425,444 372,451
Operating income 119,557 111,322 140,842
Other income:      
Interest income 10,001 7,150 2,096
Miscellaneous income, net 17,812 17,424 (10,704)
Income before income taxes 147,370 135,896 132,234
Provision for income taxes 38,368 35,557 29,904
Net income $ 109,002 $ 100,339 $ 102,330
Net income per share:      
Basic (in dollars per share) $ 2.13 $ 1.96 $ 1.98
Diluted (in dollars per share) $ 2.11 $ 1.94 $ 1.96
Shares used in per share computations:      
Basic (in shares) 51,129 51,152 51,727
Diluted (in shares) 51,569 51,635 52,280
Cash dividends declared per common share (in dollars per share) $ 1.12 $ 1.04 $ 0.96
v3.25.0.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Statement of Comprehensive Income [Abstract]      
Net Income (Loss) $ 109,002 $ 100,339 $ 102,330
Other comprehensive (loss) income, net of tax:      
Foreign currency translation adjustments, net of tax of $0, $0, and $0, respectively (814) 610 (1,604)
Comprehensive income $ 108,188 $ 100,949 $ 100,726
v3.25.0.1
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Statement of Comprehensive Income [Abstract]      
Foreign currency translation adjustments, tax $ 0 $ 0 $ 0
v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jan. 03, 2025
Dec. 29, 2023
Current assets:    
Cash and cash equivalents $ 258,901 $ 187,150
Accounts receivable, net of allowance for contract losses and doubtful accounts of $6,141 and $5,281, respectively 161,407 167,360
Prepaid expenses and other current assets 26,573 25,022
Total current assets 446,881 379,532
Property, equipment and leasehold improvements, net 73,007 75,318
Operating lease right-of-use assets 75,248 24,600
Goodwill 8,607 8,607
Deferred income taxes 57,127 53,824
Deferred compensation plan assets 110,259 101,169
Other assets 6,141 3,727
Total assets 777,270 646,777
Current liabilities:    
Accounts payable and accrued liabilities 22,136 22,125
Accrued payroll and employee benefits 119,285 111,773
Deferred revenues 16,369 21,709
Operating lease liabilities 5,393 6,302
Total current liabilities 163,183 161,909
Other liabilities 4,289 3,426
Deferred compensation plan liabilities 112,646 103,398
Operating lease liabilities 76,084 21,959
Total liabilities 356,202 290,692
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Preferred stock, $0.001 par value; 2,000 shares authorized; no shares outstanding
Common stock, $0.001 par value; 120,000 shares authorized; 65,707 shares issued 66 66
Additional paid-in capital 345,689 321,448
Accumulated other comprehensive income/(loss)    
Foreign currency translation adjustments (3,791) (2,977)
Retained earnings 624,151 574,082
Treasury stock, at cost: 14,893 and 15,134 shares held, respectively (545,047) (536,534)
Total stockholders’ equity 421,068 356,085
Total liabilities and stockholders’ equity $ 777,270 $ 646,777
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jan. 03, 2025
Dec. 29, 2023
Statement of Financial Position [Abstract]    
Accounts receivable, net of allowance for contract losses and doubtful accounts $ 6,141 $ 5,281
Preferred stock, par or stated value per share $ 0.001 $ 0.001
Preferred stock, shares authorized 2,000,000 2,000,000
Preferred stock, shares outstanding 0 0
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 14,893,000 15,134,000
v3.25.0.1
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 2,020   1,805     $ 215
Employee stock purchase plan (in shares)           (22,000)
Amortization of unrecognized stock-based compensation 9,999   9,999      
Purchase of treasury shares (155,856)         $ (155,856)
Purchase of treasury shares (in shares)           1,756,000
Foreign currency translation adjustments (1,604)     (1,604)    
Grant of restricted stock units to settle accrued bonus 10,200   10,200      
Settlement of restricted stock units (12,904)   (2,421)   (1,392) $ (9,091)
Settlement of restricted stock units (in shares)           (261,000)
Dividends and dividend equivalent rights (50,498)   0   (50,498)  
Net Income (Loss) 102,330       102,330  
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 2,084   1,840     $ 244
Employee stock purchase plan (in shares)           (24,000)
Exercise of stock options 100   22     $ 78
Exercise of stock options (in shares)           (8,000)
Amortization of unrecognized stock-based compensation 9,912   9,912      
Purchase of treasury shares (24,208)         $ (24,208)
Purchase of treasury shares (in shares)           288,000
Foreign currency translation adjustments 610     610    
Grant of restricted stock units to settle accrued bonus 10,496   10,496      
Settlement of restricted stock units (9,942)   (1,824)   (1,009) $ (7,109)
Settlement of restricted stock units (in shares)           (186,000)
Dividends and dividend equivalent rights (54,058)       (54,058)  
Net Income (Loss) 100,339       100,339  
Balance at Dec. 29, 2023 356,085 $ 66 321,448 (2,977) 574,082 $ (536,534)
Balances (in shares) at Dec. 29, 2023   65,707,000       15,134,000
Employee stock purchase plan 1,839   1,627     $ 212
Employee stock purchase plan (in shares)           (21,000)
Exercise of stock options $ 3,897   2,633     $ 1,264
Exercise of stock options (in shares) (124,206) [1]         (124,000)
Amortization of unrecognized stock-based compensation $ 11,057   11,057      
Purchase of treasury shares (5,710)         $ (5,710)
Purchase of treasury shares (in shares)           74,000
Foreign currency translation adjustments (814)     (814)    
Grant of restricted stock units to settle accrued bonus 10,846   10,846      
Settlement of restricted stock units (6,920)   (1,922)   (719) $ (4,279)
Settlement of restricted stock units (in shares)           (170,000)
Dividends and dividend equivalent rights (58,214)       (58,214)  
Net Income (Loss) 109,002       109,002  
Balance at Jan. 03, 2025 $ 421,068 $ 66 $ 345,689 $ (3,791) $ 624,151 $ (545,047)
Balances (in shares) at Jan. 03, 2025   65,707,000       14,893,000
[1] Does not include restricted stock or employee stock purchase plans.
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Cash flows from operating activities:      
Net income $ 109,002,000 $ 100,339,000 $ 102,330,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property, equipment and leasehold improvements 9,689,000 8,916,000 7,079,000
Provision for contract losses and doubtful accounts 4,450,000 3,225,000 3,081,000
Stock-based compensation 23,239,000 20,357,000 20,364,000
Deferred income tax provision (3,303,000) 85,000 (7,363,000)
Changes in operating assets and liabilities:      
Accounts receivable 1,503,000 (471,000) (33,334,000)
Prepaid expenses and other current assets 1,798,000 (6,669,000) (6,124,000)
Change in operating leases 2,568,000 (152,000) (7,000)
Accounts payable and accrued liabilities 436,000 (5,055,000) 2,215,000
Accrued payroll and employee benefits 495,000 3,902,000 6,494,000
Deferred revenues (5,340,000) 2,875,000 (928,000)
Net cash provided by operating activities 144,537,000 127,352,000 93,807,000
Cash flows from investing activities:      
Capital expenditures (6,939,000) (16,356,000) (12,043,000)
Net cash used in investing activities (6,939,000) (16,356,000) (12,043,000)
Cash flows from financing activities:      
Payroll taxes for restricted stock units (6,920,000) (9,942,000) (12,904,000)
Repurchase of common stock (5,710,000) (24,208,000) (155,856,000)
Exercise of stock-based payment awards 5,736,000 2,184,000 2,020,000
Dividends and dividend equivalent rights (58,214,000) (54,043,000) (49,237,000)
Net cash used in financing activities (65,108,000) (86,009,000) (215,977,000)
Effect of foreign currency exchange rates on cash and cash equivalents (739,000) 705,000 (2,016,000)
Net change in cash and cash equivalents 71,751,000 25,692,000 (136,229,000)
Cash and cash equivalents at beginning of year 187,150,000 161,458,000 297,687,000
Cash and cash equivalents at end of year $ 258,901,000 $ 187,150,000 $ 161,458,000
v3.25.0.1
Cybersecurity Risk Management, Strategy and Governance
 12 Months Ended
Jan. 03, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Risk Management and Strategy

We recognize the critical importance of cybersecurity and data privacy in safeguarding our operations, sensitive data, and maintaining the trust of our stakeholders. We acknowledge the significance of cybersecurity incidents and threats as potential risks that may impact our operations and information systems. We have developed and implemented cybersecurity and data privacy programs in accordance with the requirements of ISO standards 27001:2022 and 27701:2019, which are intended to appropriately preserve the confidentiality, integrity, and availability of information maintained by our company. These programs identify, select, maintain, operate, and improve cybersecurity and privacy controls.

We have implemented processes for assessing, identifying, and managing material risks from cybersecurity threats. These processes are designed to preserve the confidentiality, integrity, and availability of our information systems and the information residing therein. Our cybersecurity incident response plan is based on the NIST 800-61r2 “Computer Security Incident Handling Guide.” This plan is used to process security events identified through our real-time, 24x7 monitoring, and is also used to conduct security incident tabletop exercises. The incident response plan includes detailed steps for incident leadership, escalation to established partners, response protocols based on the type of incident, responsibilities for follow-up and reporting, and steps to capture lessons learned and improvement opportunities. Our vulnerability management processes include real-time monitoring for vulnerabilities and standardized reporting for managing remediation efforts. Our cybersecurity risk management processes are integrated into our overall risk management system to ensure alignment with our business objectives and strategies. We engage assessors, consultants, auditors and other third parties to execute certification audits, penetration tests, and security framework risk assessments. These external entities provide specialized expertise and insights to enhance the effectiveness of our cybersecurity risk management processes.

We have established processes to oversee and identify cybersecurity risks associated with our use of third-party service providers, including cloud service providers and AI system. We conduct due diligence assessments and evaluate contractual obligations to mitigate potential risks arising from third-party relationships.

Cybersecurity threats, including previous incidents, have the potential to materially affect our company, including our business strategy, results of operations, and financial condition. While we have not experienced material adverse effects from cybersecurity threats to date, we recognize the evolving nature of these risks and remain vigilant in our efforts to mitigate potential impacts.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Our cybersecurity risk management processes are integrated into our overall risk management system to ensure alignment with our business objectives and strategies.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]

Cybersecurity threats, including previous incidents, have the potential to materially affect our company, including our business strategy, results of operations, and financial condition. While we have not experienced material adverse effects from cybersecurity threats to date, we recognize the evolving nature of these risks and remain vigilant in our efforts to mitigate potential impacts.
Cybersecurity Risk Board of Directors Oversight [Text Block]

Governance

Our Board of Directors provides oversight of risks from cybersecurity threats. The Security and Privacy Management Committee (the “SPMC”) consists of our Chief Financial Officer, General Counsel, Vice President of Information Technology, Chief Human Resources Officer, Director of Information Security and Director of Environmental Health and Safety. The SPMC is tasked with ensuring risks are adequately addressed within our governance framework.

We maintain a dedicated team of cybersecurity professionals. The Director of Information Security, the Information Security team, the SPMC, the Vice President of Information Technology, and the Information Technology leadership team are principally responsible for assessing and managing cybersecurity risks for our company. These individuals possess relevant expertise in cybersecurity risk management and are equipped to address the evolving nature of cyber threats. Our Director of Information Security has over 20 years of cybersecurity experience, holds several professional certifications and is an adjunct faculty member teaching courses on information security management and governance. Our cybersecurity professionals have a proven track record of executing strategic security objectives across various sectors, including utility, government, healthcare, and consulting. They bring with them experience in designing, implementing, and managing information security programs focused on quality, performance, and compliance.

Our information security team and our third-party security service providers actively monitor the prevention, detection, mitigation, and remediation of cybersecurity incidents, ensuring timely response and resolution. Processes are in place to inform relevant management positions and committees about emerging threats and incident response

activities. The Director of Information Security provides regular updates on cybersecurity risks and incidents to the Board of Directors, the SPMC, and IT leadership.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]

Our Board of Directors provides oversight of risks from cybersecurity threats. The Security and Privacy Management Committee (the “SPMC”) consists of our Chief Financial Officer, General Counsel, Vice President of Information Technology, Chief Human Resources Officer, Director of Information Security and Director of Environmental Health and Safety. The SPMC is tasked with ensuring risks are adequately addressed within our governance framework.

Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Processes are in place to inform relevant management positions and committees about emerging threats and incident response

activities. The Director of Information Security provides regular updates on cybersecurity risks and incidents to the Board of Directors, the SPMC, and IT leadership.
Cybersecurity Risk Role of Management [Text Block] We maintain a dedicated team of cybersecurity professionals. The Director of Information Security, the Information Security team, the SPMC, the Vice President of Information Technology, and the Information Technology leadership team are principally responsible for assessing and managing cybersecurity risks for our company. These individuals possess relevant expertise in cybersecurity risk management and are equipped to address the evolving nature of cyber threats.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Director of Information Security, the Information Security team, the SPMC, the Vice President of Information Technology, and the Information Technology leadership team are principally responsible for assessing and managing cybersecurity risks for our company. These individuals possess relevant expertise in cybersecurity risk management and are equipped to address the evolving nature of cyber threats.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Director of Information Security has over 20 years of cybersecurity experience
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]

Our information security team and our third-party security service providers actively monitor the prevention, detection, mitigation, and remediation of cybersecurity incidents, ensuring timely response and resolution. Processes are in place to inform relevant management positions and committees about emerging threats and incident response

activities. The Director of Information Security provides regular updates on cybersecurity risks and incidents to the Board of Directors, the SPMC, and IT leadership.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Pay vs Performance Disclosure      
Net Income (Loss) $ 109,002 $ 100,339 $ 102,330
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Jan. 03, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rule 10b5-1 Arrangement Modified false
Non-Rule 10b5-1 Arrangement Modified false
v3.25.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Jan. 03, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

Note 1: Summary of Significant Accounting Policies

 

Basis of Presentation

Exponent, Inc. together with its subsidiaries (collectively referred to as the “Company”) is a science and engineering consulting firm that provides solutions to complex problems. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

The Company operates on a 52-53 week fiscal year with each year ending on the Friday closest to December 31st. Fiscal period 2024 included 53 weeks of activity and ended on January 3, 2025. Fiscal period 2023 included 52 weeks of activity and ended on December 29, 2023. Fiscal period 2022 included 52 weeks of activity and ended on December 30, 2022. Fiscal period 2025 is 52 weeks and will end on January 2, 2026.

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. Estimates are used for, but not limited to, revenue recognition, allowance for contract losses and doubtful accounts, stock-based compensation, income taxes, goodwill, the useful life of property, equipment and leasehold improvements, and operating lease liabilities. Actual results could differ from those estimates.

Foreign Currency Translation

The Company translates the assets and liabilities of foreign subsidiaries, whose functional currency is the local currency, at exchange rates in effect at the balance sheet date. Revenues and expenses are translated at the average rates of exchange prevailing during the year. The adjustment resulting from translating the financial statements of such foreign subsidiaries is included in accumulated other comprehensive income/(loss), which is reflected as a separate component of stockholders’ equity.

Cash Equivalents

Cash equivalents consist of highly liquid investments such as money market mutual funds, commercial paper and debt securities with original remaining maturities of three months or less from the date of purchase.

Allowances for Contract Losses and Doubtful Accounts

The Company maintains allowances for estimated losses 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 is 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 and forecasts of future economic conditions, aging of amounts due and changes in customer payment terms.

Property, Equipment and Leasehold Improvements

Property, equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are recognized using the straight-line method. Buildings are depreciated over their estimated useful lives ranging from 30 to 40 years. Equipment is depreciated over its estimated useful life, which generally ranges from 3 to 7 years. Leasehold improvements are amortized over the shorter of their estimated useful lives, generally 7 years, or the term of the related lease.

Impairment of Long-Lived Assets

The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to future undiscounted cash flows to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company has not recognized impairment losses on any long-lived assets in 2024, 2023 or 2022.

Goodwill

The Company assesses the impairment of goodwill annually and whenever events or changes in circumstances indicate that the carrying amount may be impaired. The Company’s annual goodwill impairment review is completed during the fourth quarter of each year. The Company evaluates goodwill for each reporting unit for impairment by assessing qualitative factors to determine whether it is necessary to perform a quantitative goodwill impairment test. The Company considers events and circumstances, including but not limited to, macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in management or key personnel, changes in strategy, changes in customers, a change in the composition or carrying amount of a reporting unit’s net assets and changes in the price of its common stock. If, after assessing the totality of events or circumstances, the Company determines that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then the quantitative goodwill impairment test is not performed.

The Company completed its annual assessment for all reporting units with goodwill for 2024 and determined, after assessing the totality of the qualitative factors, that it is more likely than not that the fair value of each reporting unit is greater than its respective carrying amount. Accordingly, there was no indication of impairment of goodwill for any of the Company’s reporting units and the quantitative goodwill impairment test was not performed. The Company did not recognize any goodwill impairment losses in 2024, 2023 or 2022.

Deferred Revenues

Deferred revenues represent amounts billed to clients in advance of services provided.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax basis and the financial reporting basis of assets and liabilities. Deferred tax assets and liabilities are measured using the enacted tax rates and laws in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities from changes in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized. An uncertain tax position is recognized if it is determined that it is more likely than not to be sustained upon examination. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits as income tax expense. Accrued interest and penalties are insignificant at January 3, 2025 and December 29, 2023.

Fair Value of Financial Instruments

Financial instruments consist of cash and cash equivalents, short-term investments, accounts receivable, other assets and accounts payable. Cash, cash equivalents and short-term investments are recorded at fair value. The carrying amount of the Company’s accounts receivable, other assets and accounts payable approximates their fair values due to their short maturities.

Stock-Based Compensation

Stock-based compensation is measured at the grant date based on the fair value of the award and is recognized as expense on a straight-line basis over the requisite service period of the entire award. The Company accounts for forfeitures of stock-based awards when they occur.

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 computed using the weighted-average number of common shares outstanding and potentially dilutive securities, using the treasury stock method if their effect would be dilutive.

The following schedule reconciles the denominators of the Company’s calculation for basic and diluted net income per share:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Shares used in basic per share computation

 

 

51,129

 

 

 

51,152

 

 

 

51,727

 

Effect of dilutive common stock options outstanding

 

 

166

 

 

 

188

 

 

 

204

 

Effect of unvested restricted stock units outstanding

 

 

274

 

 

 

295

 

 

 

349

 

Shares used in diluted per share computation

 

 

51,569

 

 

 

51,635

 

 

 

52,280

 

Common stock options to purchase 30,000 shares were excluded from the diluted per share calculation for 2024 due to their anti-dilutive effect. Common stock options to purchase 59,459 shares were excluded from the diluted per share calculation for 2023 due to their anti-dilutive effect. There were no equity awards excluded from the diluted per share calculation for 2022.

 

Recently Adopted Accounting Pronouncements

On November 27, 2023, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This standard improves reportable segment disclosures by adding and enhancing interim disclosure requirements, clarifying circumstances in which entities can disclose multiple segment measures of profit or loss, providing new segment disclosure requirements for entities with a single reportable segment, and adding the disclosure of significant segment expenses that are regularly provided to the chief operating decision maker within each reported measure of segment profit and loss. This standard is effective for all entities that are subject to Topic 280, Segment Reporting for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company has included all required disclosures within its Form 10-K for the year ended December 31, 2024. See Note 17 for further information on segment disclosures.

Recent Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (subtopic 220-40), which requires disclosure of disaggregation of certain relevant expenses included in the statements of operations on an annual and interim basis. ASU 2024-03 will be effective for our annual periods beginning January 1, 2027 and interim periods beginning January 1, 2028. The amendments must be applied retrospectively, and early adoption is permitted. The Company is currently evaluating the effects of adoption on our consolidated financial statements.
v3.25.0.1
Revenue Recognition
 12 Months Ended
Jan. 03, 2025
Revenue from Contract with Customer [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, 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), the entity may recognize revenue in the amount to which the entity has a right to invoice.

The following table discloses the percent of the Company’s revenue generated from time and materials contracts:

 

 

Fiscal Years

 

 

2024

 

2023

 

2022

Engineering & Other Scientific

 

64%

 

63%

 

63%

Environmental and Health

 

15%

 

15%

 

16%

Total time and materials revenues

 

79%

 

78%

 

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 percent of the Company’s revenue generated from fixed price contracts:

 

 

Fiscal Years

 

 

2024

 

2023

 

2022

Engineering & Other Scientific

 

20%

 

20%

 

20%

Environmental and Health

 

1%

 

2%

 

1%

Total fixed price revenues

 

21%

 

22%

 

21%

 

Deferred revenues represent amounts billed to clients in advance of services provided. During 2024, $14,173,000 of revenues were recognized that were included in the deferred revenue balance at December 29, 2023. During 2023, $14,463,000 of revenues were recognized that were included in the deferred revenue balance at December 30, 2022. During 2022, $15,384,000 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 service fee associated with 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 and not control 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 $10,970,000, $12,268,000 and $28,754,000 during 2024, 2023 and 2022, respectively.

v3.25.0.1
Cash and cash equivalents
 12 Months Ended
Jan. 03, 2025
Cash and Cash Equivalents [Abstract]  
Cash and cash equivalents

Note 3: Cash and cash equivalents

 

Cash and cash equivalents consisted of the following as of January 3, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

(In thousands)

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Fair
Value

 

Classified as current assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

201,352

 

 

$

—

 

 

$

—

 

 

$

201,352

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

Money market securities

 

 

57,549

 

 

 

—

 

 

 

—

 

 

 

57,549

 

Total cash equivalents

 

 

57,549

 

 

 

—

 

 

 

—

 

 

 

57,549

 

Total cash and cash equivalents

 

 

258,901

 

 

 

—

 

 

 

—

 

 

 

258,901

 

 

 

Cash and cash equivalents consisted of the following as of December 29, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

(In thousands)

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Fair
Value

 

Classified as current assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

132,464

 

 

$

—

 

 

$

—

 

 

$

132,464

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

Money market securities

 

 

54,686

 

 

 

—

 

 

 

—

 

 

 

54,686

 

Total cash equivalents

 

 

54,686

 

 

 

—

 

 

 

—

 

 

 

54,686

 

Total cash and cash equivalents

 

 

187,150

 

 

 

—

 

 

 

—

 

 

 

187,150

 

 
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Jan. 03, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 4: Fair Value Measurements

The Company measures certain financial assets and liabilities at fair value on a recurring basis, including available-for-sale fixed income securities, trading fixed income and equity securities held in its deferred compensation plan and the liability associated with its deferred compensation plan. There have been no transfers between fair value measurement levels during 2024, 2023 and 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 January 3, 2025 (in thousands):

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Quoted
Prices in
Active Markets
for Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market securities (1)

 

$

57,549

 

 

$

57,549

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income trading securities held in
   deferred compensation plan (2)

 

 

42,291

 

 

 

42,291

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity trading securities held in deferred
   compensation plan (2)

 

 

85,546

 

 

 

85,546

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

185,386

 

 

$

185,386

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation plan (3)

 

 

127,622

 

 

 

127,622

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

127,622

 

 

$

127,622

 

 

$

—

 

 

$

—

 

 

(1)
Included in cash and cash equivalents on the Company’s consolidated balance sheet.
(2)
Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s consolidated balance sheet.
(3)
Included in accounts payable and accrued liabilities and deferred compensation plan liabilities on the Company’s consolidated balance sheet.

The fair value of these certain financial assets and liabilities was determined using the following inputs at December 29, 2023 (in thousands):

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Quoted
Prices in
Active Markets
for Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market securities (1)

 

$

54,686

 

 

$

54,686

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income trading securities held in
   deferred compensation plan (2)

 

 

36,788

 

 

 

36,788

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity trading securities held in deferred
   compensation plan (2)

 

 

78,399

 

 

 

78,399

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

169,873

 

 

$

169,873

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation plan (3)

 

 

116,564

 

 

 

116,564

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

116,564

 

 

$

116,564

 

 

$

—

 

 

$

—

 

 

(1)
Included in cash and cash equivalents on the Company’s consolidated balance sheet.
(2)
Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s consolidated balance sheet.
(3)
Included in accounts payable and accrued liabilities and deferred compensation plan liabilities on the Company’s consolidated balance sheet.

Fixed income and equity trading securities as of January 3, 2025 and December 29, 2023 represent mutual funds held in the Company’s deferred compensation plan. See Note 11 for additional information about the Company’s deferred compensation plan.

The following financial instruments are not measured at fair value on the Company's consolidated balance sheet at January 3, 2025, but require disclosure of their fair values: accounts receivable, other assets and accounts payable. The estimated fair value of such instruments at January 3, 2025 approximates their carrying value as reported on the consolidated balance sheet.

There were no other-than-temporary impairments or credit losses related to available-for-sale securities during 2024, 2023 and 2022.
v3.25.0.1
Property, Equipment and Leasehold Improvements
 12 Months Ended
Jan. 03, 2025
Property, Plant and Equipment [Abstract]  
Property, Equipment and Leasehold Improvements

Note 5: Property, Equipment and Leasehold Improvements

 

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Property:

 

 

 

 

 

 

Land

 

$

18,339

 

 

$

18,339

 

Buildings

 

 

70,416

 

 

 

69,698

 

Construction in progress

 

 

219

 

 

 

1,114

 

Equipment:

 

 

 

 

 

 

Machinery and equipment

 

 

57,041

 

 

 

54,008

 

Office furniture and equipment

 

 

13,749

 

 

 

12,411

 

Leasehold improvements

 

 

25,445

 

 

 

23,759

 

 

 

185,209

 

 

 

179,329

 

Less accumulated depreciation and amortization

 

 

112,202

 

 

 

104,011

 

Property, equipment and leasehold improvements, net

 

$

73,007

 

 

$

75,318

 

 

Depreciation and amortization for 2024, 2023 and 2022 was $9,689,000, $8,916,000 and $7,079,000, respectively.
v3.25.0.1
Other Significant Balance Sheet Components
 12 Months Ended
Jan. 03, 2025
Significant Balance Sheet Components [Abstract]  
Other Significant Balance Sheet Components

Note 6: Other Significant Balance Sheet Components

 

Account receivable, net

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Billed accounts receivable

 

$

117,503

 

 

$

128,052

 

Unbilled accounts receivable

 

 

50,045

 

 

 

44,589

 

Allowance for contract losses and doubtful accounts

 

 

(6,141

)

 

 

(5,281

)

Total accounts receivable, net

 

$

161,407

 

 

$

167,360

 

 

Accounts payable and accrued liabilities

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Accounts payable

 

$

5,272

 

 

$

4,489

 

Accrued liabilities

 

 

16,864

 

 

 

17,636

 

Total accounts payable and other accrued liabilities

 

$

22,136

 

 

$

22,125

 

 

Accrued payroll and employee benefits

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Accrued bonuses payable

 

$

76,844

 

 

$

68,415

 

Accrued 401(k) contributions

 

 

10,807

 

 

 

11,138

 

Accrued vacation

 

 

14,433

 

 

 

13,492

 

Deferred compensation plan

 

 

14,976

 

 

 

13,166

 

Other accrued payroll and employee benefits

 

 

2,225

 

 

 

5,562

 

Total accrued payroll and employee benefits

 

$

119,285

 

 

$

111,773

 

 

Other accrued payroll and employee benefits consist primarily of accrued wages, payroll taxes and disability insurance programs. A portion of accrued bonuses payable will be settled by issuing fully vested restricted stock units. See Note 9 and Note 16 for additional information.
v3.25.0.1
Income Taxes
 12 Months Ended
Jan. 03, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

Note 7: Income Taxes

 

Income before income taxes includes income from foreign operations of $13,135,000, $10,353,000 and $10,646,000 for 2024, 2023 and 2022, respectively.

Total income tax expense for 2024, 2023 and 2022 consisted of the following:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Current

 

 

 

 

 

 

 

 

 

Federal

 

$

28,237

 

 

$

23,193

 

 

$

24,411

 

Foreign

 

 

3,041

 

 

 

2,254

 

 

 

1,973

 

State

 

 

10,393

 

 

 

10,025

 

 

 

10,883

 

 

 

41,671

 

 

 

35,472

 

 

 

37,267

 

Deferred

 

 

 

 

 

 

 

 

 

Federal

 

 

(2,665

)

 

 

(775

)

 

 

(4,910

)

State

 

 

(638

)

 

 

860

 

 

 

(2,453

)

 

 

(3,303

)

 

 

85

 

 

 

(7,363

)

Total

 

$

38,368

 

 

$

35,557

 

 

$

29,904

 

The Company’s effective tax rate differs from the statutory federal tax rate of 21% as shown in the following schedule:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Tax at federal statutory rate

 

$

30,948

 

 

$

28,538

 

 

$

27,769

 

State taxes, net of federal benefit

 

 

7,699

 

 

 

8,587

 

 

 

6,726

 

Non-deductible officer compensation

 

 

1,787

 

 

 

870

 

 

 

1,160

 

Non-deductible expenses

 

 

427

 

 

 

456

 

 

 

52

 

Non-deductible stock-based compensation

 

 

14

 

 

 

12

 

 

 

12

 

Excess tax benefit from equity incentive plans

 

 

(2,239

)

 

 

(2,844

)

 

 

(4,533

)

Difference between statutory rate and foreign effective tax rate

 

 

(194

)

 

 

(264

)

 

 

(693

)

Other

 

 

(74

)

 

 

202

 

 

 

(589

)

Tax expense

 

$

38,368

 

 

$

35,557

 

 

$

29,904

 

 

 

 

 

 

 

 

 

 

Effective tax rate

 

 

26.0

%

 

 

26.2

%

 

 

22.6

%

 

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at January 3, 2025 and December 29, 2023 are presented in the following schedule:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Deferred tax assets:

 

 

 

 

 

 

Accrued liabilities and allowances

 

$

22,831

 

 

$

21,235

 

Deferred compensation plan

 

 

43,222

 

 

 

40,280

 

Operating leases

 

 

22,782

 

 

 

7,853

 

Total deferred tax assets

 

$

88,835

 

 

$

69,368

 

 

 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

 

 

State taxes

 

$

(2,310

)

 

$

(2,255

)

Deductible goodwill

 

 

(2,065

)

 

 

(2,071

)

Operating leases

 

 

(22,782

)

 

 

(7,853

)

Unrealized gain of deferred compensation plan assets

 

 

(3,319

)

 

 

(1,652

)

Property, equipment and leasehold improvements

 

 

(1,232

)

 

 

(1,695

)

Other

 

 

—

 

 

 

(18

)

Total deferred tax liabilities

 

 

(31,708

)

 

 

(15,544

)

Net deferred tax assets

 

$

57,127

 

 

$

53,824

 

 

Management believes it is more likely than not that the results of future operations will generate sufficient taxable income to realize the net deferred tax assets.

The Company is entitled to a deduction for federal and state tax purposes with respect to employees’ stock award activity. The net reduction in taxes otherwise payable arising from that deduction has been recorded as an income tax benefit. For 2024, 2023 and 2022, the net reduction in tax payable arising from employees’ stock award activity was $2,793,000, $3,620,000 and $5,829,000, respectively.

The Company and its subsidiaries file income tax returns in the United States federal jurisdiction, California and various other state and foreign jurisdictions. The Company is no longer subject to United States federal income tax examination for years prior to 2021. The Company is no longer subject to California franchise tax examinations for years prior to 2020. With few exceptions, the Company is no longer subject to state and local or non-United States income tax examination by tax authorities for years prior to 2020.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

Balance at December 30, 2022

 

$

2,047

 

  Additions based on tax positions related to the current year

 

 

571

 

  Reductions due to lapse of statute of limitations

 

 

(473

)

Balance at December 29, 2023

 

$

2,145

 

  Additions based on tax positions related to the current year

 

 

651

 

  Reductions due to lapse of statute of limitations

 

 

(369

)

Balance at January 3, 2025

 

$

2,427

 

 

Unrecognized tax benefits are included in other liabilities in the accompanying consolidated balance sheets. To the extent these unrecognized tax benefits are ultimately recognized, they will impact the effective tax rate by $1,918,000 in a future period. There are no uncertain tax positions whose resolution in the next 12 months is expected to materially affect operating results.
v3.25.0.1
Stockholders' Equity
 12 Months Ended
Jan. 03, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity

Note 8: Stockholders’ Equity

Preferred Stock

The Company has authorized 2,000,000 shares of undesignated preferred stock with a par value of $0.001 per share. None of the preferred shares were issued and outstanding at January 3, 2025 and December 29, 2023.

Dividends

The Company declared and paid cash dividends per share of common stock during the periods presented as follows:

 

 

 

Fiscal Year

 

 

 

2024

 

 

 

Dividends

 

 

Amount

 

 

 

Per Share

 

 

(in thousands)

 

First Quarter

 

$

0.280

 

 

$

14,159

 

Second Quarter

 

$

0.280

 

 

 

14,193

 

Third Quarter

 

$

0.280

 

 

 

14,212

 

Fourth Quarter

 

$

0.280

 

 

 

14,226

 

 

 

 

 

$

56,790

 

 

 

 

 

 

 

 

 

 

Fiscal Year

 

 

 

2023

 

 

 

Dividends

 

 

Amount

 

 

 

Per Share

 

 

(in thousands)

 

First Quarter

 

$

0.260

 

 

$

13,169

 

Second Quarter

 

$

0.260

 

 

 

13,217

 

Third Quarter

 

$

0.260

 

 

 

13,177

 

Fourth Quarter

 

$

0.260

 

 

 

13,148

 

 

 

 

 

$

52,711

 

Treasury Stock

Net losses related to the re-issuance of treasury stock to settle restricted stock unit and stock option awards of $720,000, $1,009,000 and $1,392,000 were recorded as a reduction to retained earnings during 2024, 2023 and 2022, respectively.

Repurchase of Common Stock

The Company repurchased 74,000 shares of its common stock for $5,710,000 during 2024. The Company repurchased 288,000 shares of its common stock for $24,208,000 during 2023. The Company repurchased 1,756,000 shares of its common stock for $155,856,000 during 2022. On February 1, 2024, the Board of Directors authorized $61,600,000 for the repurchase of the Company’s common stock. On February 22, 2022, the Board of Directors authorized $150,000,000 for the repurchase of the Company’s common stock. These repurchase programs have no expiration dates. As of January 3, 2025, the Company had remaining authorization under its stock repurchase plan of $94,290,000 to repurchase shares of common stock.

v3.25.0.1
Stock-Based Compensation
 12 Months Ended
Jan. 03, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

Note 9: Stock-Based Compensation

On May 29, 2008, the Company’s stockholders approved the 2008 Equity Incentive Plan and the 2008 Employee Stock Purchase Plan (“ESPP”). The 2008 Equity Incentive Plan and ESPP were previously adopted by the Company’s Board of Directors on April 8, 2008, subject to stockholder approval.

The 2008 Equity Incentive Plan allows for the award of stock options, stock awards (including stock units, stock grants and stock appreciation rights or other similar equity awards) and cash awards to officers, employees, consultants and non-employee members of the Board of Directors. The total number of shares reserved for issuance under the 2008 Equity Incentive Plan was 13,336,300 shares of common stock, subject to adjustment resulting from a stock split or the payment of a stock dividend or any other increase or decrease in the number of issued shares of the Company’s stock effected without receipt of consideration by the Company. As of January 3, 2025, 2,313,565 shares were available for grant under the 2008 Equity Incentive Plan.

The ESPP allows for officers and employees to purchase common stock through payroll deductions of up to 15% of a participant’s eligible compensation. Shares of common stock are purchased under the ESPP at 95% of the fair market value of the Company’s common stock on each purchase date. Subject to adjustment resulting from a stock split or the payment of a stock dividend or any other increase or decrease in the number of issued shares of the Company’s stock effected without receipt of consideration by the Company, the total number of shares reserved for issuance under the ESPP was 1,200,000 shares of common stock. As of January 3, 2025, 275,324 shares were available for grant. Weighted average purchase prices for shares sold under the ESPP plan in 2024, 2023 and 2022 were $88.70, $87.12 and $91.17, respectively.

Restricted Stock Units

The Company grants restricted stock units to employees and outside directors. These 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 received a fully vested restricted stock unit award is granted a matching number of unvested restricted stock unit awards. These unvested restricted stock unit awards 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 59 ½ years or older, all unvested restricted stock unit awards will continue to vest provided the holder of each award performs 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.

All restricted stock units granted have dividend equivalent rights (“DER”), which entitle holders of restricted stock units to the same dividend value per share as holders of common stock. DER are subject to the same vesting and other terms and conditions as the corresponding unvested restricted stock units. DER are accumulated and paid when the underlying shares vest and are forfeited if the underlying shares are forfeited.

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. For 2024, 2023 and 2022, the Company recorded stock-based compensation expense associated with accrued bonus awards of $12,182,000, $10,445,000 and $10,365,000, respectively.

The Company recorded stock-based compensation expense associated with the unvested restricted stock unit awards of $9,634,000, $8,831,000 and $9,164,000 during 2024, 2023 and 2022, respectively. The total fair value of restricted stock unit awards vested during 2024, 2023 and 2022 was $21,286,000, $25,277,000 and $29,875,000, respectively. The weighted-average grant date fair values of restricted stock unit awards granted during 2024, 2023 and 2022 were $79.59, $99.47 and $94.24, respectively.

The number of unvested restricted stock unit awards outstanding as of January 3, 2025 is as follows (1):

 

 

Number
of awards
outstanding

 

 

Weighted-
average
grant date
fair value

 

 

Weighted-
average
remaining
contractual
term (years)

 

 

Aggregate
intrinsic value
(in thousands) (2)

 

Balance at December 29, 2023

 

 

418,708

 

 

$

88.78

 

 

 

 

 

 

 

Awards granted

 

 

284,912

 

 

 

79.59

 

 

 

 

 

 

 

Awards vested

 

 

(266,859

)

 

 

74.70

 

 

 

 

 

 

 

Awards forfeited

 

 

(23,465

)

 

 

90.72

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 3, 2025

 

 

413,296

 

 

$

91.43

 

 

 

1.9

 

 

$

36,746

 

 

(1)
Does not include employee stock purchase plans or stock option plans.
(2)
The intrinsic value is calculated as the market value as of the end of the fiscal period. As reported by the NASDAQ Global Select Market, the market value as of January 3, 2025 was $88.91.

Stock Options

The Company currently grants stock options under the 2008 Equity Incentive Plan. Options are granted for terms of 10 years and generally vest ratably over a four-year period from the grant date. In the case of retirement at 59 ½ years or older, all unvested stock options will continue to vest provided the holder of each option 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 Company grants options at exercise prices equal to the fair value of the Company’s common stock on the date of grant. All stock options have DER, which entitle holders of stock options to the same dividend value per share as holders of common stock. DER are subject to the same vesting terms as the corresponding stock options. DER are accumulated and paid in cash when the underlying stock options vest and are forfeited if the underlying stock options do not vest. During 2024, 2023 and 2022, the Company recorded stock-based compensation expense of $1,423,000, $1,081,000 and $835,000, respectively, associated with stock options.

Option activity is as follows (1):

 

 

Number
of shares
outstanding

 

 

Weighted-
average
exercise
price

 

 

Weighted-
average
remaining
contractual
term (years)

 

 

Aggregate
intrinsic value
(in thousands)

 

Exercisable at December 29, 2023

 

 

463,235

 

 

$

51.86

 

 

 

 

 

 

 

Options granted

 

 

40,000

 

 

 

75.87

 

 

 

 

 

 

 

Options forfeited and expired

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Options exercised

 

 

(124,206

)

 

 

31.37

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 3, 2025

 

 

379,029

 

 

$

61.11

 

 

 

4.80

 

 

$

11,267

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at January 3, 2025

 

 

289,446

 

 

$

52.79

 

 

 

3.76

 

 

$

10,726

 

 

(1)
Does not include restricted stock or employee stock purchase plans.

The total intrinsic value of options exercised during 2024, 2023 and 2022 was $8,410,000, $742,000 and $0, respectively. The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the fiscal year ended January 3, 2025, and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on January 3, 2025. This amount changes based on the fair-value of the Company’s stock.

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-based payment 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 and post-vesting forfeiture and 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 on the options. The dividend yield assumption considers the expectation of continued declaration of dividends, offset by option holders’ DER. All stock-based payment awards are recognized on a straight-line basis over the requisite service periods of the awards.

The assumptions used to value option grants for 2024, 2023 and 2022 are as follows:

 

 

Stock Option Plan

 

 

 

Fiscal Years

 

 

 

2024

 

 

2023

 

 

2022

 

Expected term (in years)

 

 

5.7

 

 

 

5.8

 

 

 

5.6

 

Risk-free interest rate

 

 

4.26

%

 

 

3.99

%

 

 

1.90

%

Volatility

 

 

30

%

 

 

29

%

 

 

28

%

Dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

 

The weighted-average grant date fair value of options granted during 2024, 2023 and 2022 were $28.36, $38.29 and $26.64, respectively.

The amount of stock-based compensation expense and the related income tax benefit recognized in the Company’s consolidated statements of income for 2024, 2023 and 2022 is as follows:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Compensation and related expenses:

 

 

 

 

 

 

 

 

 

Restricted stock units

 

$

21,086

 

 

$

18,542

 

 

$

18,810

 

Stock option grants

 

 

1,423

 

 

 

1,081

 

 

 

835

 

Sub-total

 

 

22,509

 

 

 

19,623

 

 

 

19,645

 

 

 

 

 

 

 

 

 

 

General and administrative expenses:

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

730

 

 

 

734

 

 

 

719

 

Sub-total

 

 

730

 

 

 

734

 

 

 

719

 

Total stock-based compensation expense

 

$

23,239

 

 

$

20,357

 

 

$

20,364

 

 

 

 

 

 

 

 

 

 

Income tax benefit

 

$

2,793

 

 

$

3,620

 

 

$

5,829

 

 

As of January 3, 2025, there was $12,984,000 of unrecognized compensation cost, expected to be recognized over a weighted average period of 2.5 years, related to unvested restricted stock unit awards and $1,253,000 of unrecognized compensation cost, expected to be recognized over a weighted average period of 2.1 years, related to unvested stock options.

v3.25.0.1
Retirement Plans
 12 Months Ended
Jan. 03, 2025
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]  
Retirement Plans

Note 10: Retirement Plans

The Company provides a defined contribution retirement plan for its employees whereby the Company contributes to each eligible employee’s account 7% of the employee’s eligible salary. The employee does not need to make a contribution to the plan to be eligible for the Company’s 7% contribution. To be eligible under the plan, an employee must be at least 21 years of age and be either a full-time or part-time salaried employee. The 7% Company contribution will vest 20% per year for the first five years of employment and then immediately thereafter. These contributions are made to the 401(k) plan up to the statutory maximum. Any portion of the 7% contribution in excess of the statutory maximum is made to the Company’s nonqualified deferred compensation plan. The Company’s expenses related to this plan were $11,704,000, $11,867,000 and $10,166,000 in 2024, 2023 and 2022, respectively.

v3.25.0.1
Deferred Compensation Plans
 12 Months Ended
Jan. 03, 2025
Deferred Compensation Arrangements [Abstract]  
Deferred Compensation Plans

Note 11: 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 January 3, 2025 and December 29, 2023, invested amounts under the plans totaled $127,837,000 and $115,187,000, respectively. These assets are classified as trading securities and are recorded at fair market value with changes recorded as adjustments to miscellaneous income, net.

As of January 3, 2025 and December 29, 2023, vested amounts due under the plans totaled $127,622,000 and $116,564,000, respectively. Changes in the liability are recorded as adjustments to compensation and related expense. During 2024, 2023 and 2022, the Company recognized compensation expense of $14,928,000, $14,315,000 and ($14,187,000), respectively, as a result of changes in the market value of the trust assets with the same amount being recorded as other income, net.
v3.25.0.1
Leases
 12 Months Ended
Jan. 03, 2025
Leases [Abstract]  
Leases

Note 12: 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 consolidated balance sheet. The Company does not have any finance leases as of January 3, 2025.

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 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 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 10 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 15-year periods. On June 19, 2024, the Company entered into an agreement with the State of Arizona

to extend this lease for 15 years beginning on January 17, 2028. The Company is currently obligated to make payments under the lease of $1,009,000 per year, which obligation will continue at that level until January 16, 2028. Beginning on January 17, 2028, the Company’s payments under the lease will increase to approximately $6,183,000 per year for the 15-year extension term with adjustments to the annual rent payment in 2033 and 2038 based on the consumer price index. As a result of this extension, the Company added an additional right-of-use asset in exchange for an operating lease liability of $48,683,000 during the second quarter of 2024. As of January 3, 2025, the Company has determined that the exercise of the second renewal option is not reasonably certain and thus that 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 components of lease expense included in other operating expenses on the consolidated statements of income were as follows:

 

 

Fiscal Year

 

 

Fiscal Year

 

 

Fiscal Year

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Operating lease cost

 

$

11,061

 

 

$

7,732

 

 

$

7,050

 

Variable lease cost

 

 

1,425

 

 

 

1,635

 

 

 

1,263

 

Short-term lease cost

 

 

1,345

 

 

 

1,174

 

 

 

651

 

 

Supplemental cash flow information related to operating leases was as follows:

 

 

Fiscal Year

 

 

Fiscal Year

 

 

Fiscal Year

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

7,559

 

 

$

7,249

 

 

$

6,564

 

 

Supplemental balance sheet information related to operating leases was as follows:

 

 

Fiscal Year

 

Fiscal Year

 

Fiscal Year

 

 

2024

 

2023

 

2022

Weighted Average Remaining Lease Term

 

13.7 years

 

6.1 years

 

4.1 years

Weighted Average Discount Rate

 

6.3%

 

5.1%

 

4.3%

 

Maturities of operating lease liabilities as of January 3, 2025:

 

 

Operating

 

(In thousands)

 

Leases

 

2025

 

 

8,001

 

2026

 

 

7,756

 

2027

 

 

6,633

 

2028

 

 

9,666

 

2029

 

 

9,390

 

Thereafter

 

 

89,052

 

Total lease payments

 

$

130,498

 

Less imputed interest

 

 

49,021

 

Total lease liability

 

$

81,477

 
v3.25.0.1
Commitments and Contingencies
 12 Months Ended
Jan. 03, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 13: Commitments and 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.

v3.25.0.1
Miscellaneous Income, Net
 12 Months Ended
Jan. 03, 2025
Other Income and Expenses [Abstract]  
Miscellaneous Income, Net

Note 14: Miscellaneous Income, Net

 

Miscellaneous income, net, consisted of the following:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Rental income

 

$

2,853

 

 

$

3,371

 

 

$

2,938

 

Gain (loss) on deferred compensation investments

 

 

14,928

 

 

 

14,315

 

 

 

(14,187

)

Gain (loss) on foreign exchange

 

 

(14

)

 

 

(259

)

 

 

522

 

Other

 

 

45

 

 

 

(3

)

 

 

23

 

Total

 

$

17,812

 

 

$

17,424

 

 

$

(10,704

)
v3.25.0.1
Industry and Client Credit Risk
 12 Months Ended
Jan. 03, 2025
Risks and Uncertainties [Abstract]  
Industry and Client Credit Risk

Note 15: Industry and Client Credit Risk

The Company serves clients in various segments of the economy. During 2024, the Company provided services representing approximately 24%, 19%, 16% and 10% of revenues to clients in the consumer products industry, energy and utilities industries, the transportation industry and the chemical industry, respectively.

No single client comprised more than 10% of the Company’s revenues during 2024 or 2023. One client comprised 15% of the Company’s revenues during 2022.
v3.25.0.1
Supplemental Cash Flow Information
 12 Months Ended
Jan. 03, 2025
Supplemental Cash Flow Information [Abstract]  
Supplemental Cash Flow Information

Note 16: Supplemental Cash Flow Information

The following is supplemental disclosure of cash flow information:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Cash paid during the year:

 

 

 

 

 

 

 

 

 

Income taxes

 

$

39,723

 

 

$

38,944

 

 

$

40,121

 

Non-cash investing and financing activities:

 

 

 

 

 

 

 

 

 

Vested stock unit awards granted to settle accrued bonus

 

 

10,846

 

 

 

10,496

 

 

 

10,200

 

Right-of-use asset obtained in exchange for operating
   lease obligation

 

 

58,032

 

 

 

15,749

 

 

 

9,476

 

Leasehold improvements obtained in exchange for right-of-use asset

 

 

-

 

 

 

3,219

 

 

 

-

 

Accrual for capital expenditures

 

 

575

 

 

 

137

 

 

 

1,017

 
v3.25.0.1
Segment Reporting
 12 Months Ended
Jan. 03, 2025
Segment Reporting [Abstract]  
Segment Reporting

Note 17: 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 area 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.

Segment information is presented for selected data from the statements of income and statements of cash flows for 2024, 2023 and 2022. Segment information for selected data from the balance sheets is presented for the fiscal years ended January 3, 2025 and December 29, 2023. The Company’s CEO, the chief operating decision maker, does not review total assets in her evaluation of segment performance and capital allocation.

Revenues

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

469,544

 

 

$

446,888

 

 

$

427,796

 

Environmental and Health

 

 

88,970

 

 

 

89,878

 

 

 

85,497

 

Total revenues

 

$

558,514

 

 

$

536,766

 

 

$

513,293

 

 

Compensation and related expenses

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

223,395

 

 

$

215,650

 

 

$

195,243

 

Environmental and Health

 

 

47,600

 

 

 

48,619

 

 

 

47,288

 

 

 

 

 

 

 

 

 

 

Total segment compensation and related expenses

 

 

270,995

 

 

 

264,269

 

 

 

242,531

 

 

 

 

 

 

 

 

 

 

Corporate compensation and related expenses

 

 

59,016

 

 

 

55,617

 

 

 

21,704

 

 

 

 

 

 

 

 

 

 

Total compensation and related expenses

 

$

330,011

 

 

$

319,886

 

 

$

264,235

 

 

Certain expenses are excluded from the Company’s measure of segment compensation and related expenses. These include the deferred compensation expense/benefit due to changes in value of assets associated with the Company’s deferred compensation plan; stock-based compensation associated with restricted stock unit and stock option awards, and the compensation costs associated with the Company’s human resources, finance, information technology, corporate, and business development groups.

 

Operating Income

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

164,883

 

 

$

153,918

 

 

$

152,679

 

Environmental and Health

 

 

29,995

 

 

 

28,432

 

 

 

27,340

 

 

 

 

 

 

 

 

 

 

Total segment operating income

 

 

194,878

 

 

 

182,350

 

 

 

180,019

 

 

 

 

 

 

 

 

 

 

Corporate operating expense

 

 

(75,321

)

 

 

(71,028

)

 

 

(39,177

)

Total operating income

 

$

119,557

 

 

$

111,322

 

 

$

140,842

 

 

Certain operating expenses are excluded from the Company's measure of segment operating income. These expenses include the costs associated with the Company’s human resources, finance, information technology, corporate, and business development groups; the deferred compensation expense/benefit due to the change in value of assets associated with the Company’s deferred compensation plan; stock-based compensation associated with restricted stock unit and stock option awards; and the change in the Company’s allowance for contract losses and doubtful accounts.

 

Capital Expenditures

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

3,257

 

 

$

3,895

 

 

$

4,661

 

Environmental and Health

 

 

77

 

 

 

170

 

 

 

174

 

 

 

 

 

 

 

 

 

 

Total segment capital expenditures

 

 

3,334

 

 

 

4,065

 

 

 

4,835

 

 

 

 

 

 

 

 

 

 

Corporate capital expenditures

 

 

4,043

 

 

 

14,630

 

 

 

7,812

 

Total capital expenditures

 

$

7,377

 

 

$

18,695

 

 

$

12,647

 

 

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

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

6,833

 

 

$

6,087

 

 

$

4,489

 

Environmental and Health

 

 

206

 

 

 

213

 

 

 

171

 

 

 

 

 

 

 

 

 

 

Total segment depreciation and amortization

 

 

7,039

 

 

 

6,300

 

 

 

4,660

 

 

 

 

 

 

 

 

 

 

Corporate depreciation and amortization

 

 

2,650

 

 

 

2,616

 

 

 

2,419

 

Total depreciation and amortization

 

$

9,689

 

 

$

8,916

 

 

$

7,079

 

 

Information regarding the Company’s operations in different geographical areas:

Property, Equipment and Leasehold Improvements, net

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

United States

 

$

72,418

 

 

$

74,668

 

Foreign Countries

 

 

589

 

 

 

650

 

Total

 

$

73,007

 

 

$

75,318

 

 

Revenues (1)

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

United States

 

$

493,067

 

 

$

470,078

 

 

$

450,445

 

Foreign Countries

 

 

65,447

 

 

 

66,688

 

 

 

62,848

 

 

 

 

 

 

 

 

 

 

Total

 

$

558,514

 

 

$

536,766

 

 

$

513,293

 

 

(1)
Geographic revenues are allocated based on the location of the client.

Below is a breakdown of goodwill, reported by segment as of January 3, 2025 and December 29, 2023:

(In thousands)

 

Environmental
and Health

 

 

Engineering
and Other
Scientific

 

 

Total

 

Goodwill

 

$

8,099

 

 

$

508

 

 

$

8,607

 

 

There were no changes in the carrying amount of goodwill for 2024, 2023 and 2022. There were no goodwill impairments or gains or losses on disposals for any portion of the Company’s reporting units during 2024, 2023, and 2022.
v3.25.0.1
Subsequent Events
 12 Months Ended
Jan. 03, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 18: Subsequent Events

On February 6, 2025, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.30 per share to be paid on March 21, 2025 to all common stockholders of record as of March 7, 2025.
v3.25.0.1
Schedule II Valuation and Qualifying Accounts
 12 Months Ended
Jan. 03, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Valuation and Qualifying Accounts

Schedule II

Valuation and Qualifying Accounts

 

 

 

 

 

Additions

 

 

Deletions (1)

 

 

 

 

(In thousands)

 

Balance at
Beginning
of Year

 

 

Provision
Charged to
Expense

 

 

Provision
Charged to
Revenues

 

 

Accounts
Written-
off Net of
Recoveries

 

 

Balance
at End
of Year

 

Year Ended January 3, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for bad debt

 

$

1,162

 

 

$

993

 

 

$

—

 

 

$

(804

)

 

$

1,351

 

Allowance for contract losses

 

$

4,119

 

 

$

—

 

 

$

3,457

 

 

$

(2,786

)

 

$

4,790

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 29, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for bad debt

 

$

1,239

 

 

$

856

 

 

$

—

 

 

$

(933

)

 

$

1,162

 

Allowance for contract losses

 

$

4,954

 

 

$

—

 

 

$

2,368

 

 

$

(3,203

)

 

$

4,119

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for bad debt

 

$

973

 

 

$

455

 

 

$

—

 

 

$

(189

)

 

$

1,239

 

Allowance for contract losses

 

$

3,450

 

 

$

—

 

 

$

2,626

 

 

$

(1,122

)

 

$

4,954

 

 

(1)
Balance includes currency translation adjustments.

Recoveries of accounts receivable previously written off were $74,000, $181,000 and $11,000 for 2024, 2023 and 2022, respectively.

Schedules other than above have been omitted since they are either not required, not applicable, or the information is otherwise included in the Annual Report on Form 10-K.
v3.25.0.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Jan. 03, 2025
Accounting Policies [Abstract]  
Basis of Presentation

Basis of Presentation

Exponent, Inc. together with its subsidiaries (collectively referred to as the “Company”) is a science and engineering consulting firm that provides solutions to complex problems. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

The Company operates on a 52-53 week fiscal year with each year ending on the Friday closest to December 31st. Fiscal period 2024 included 53 weeks of activity and ended on January 3, 2025. Fiscal period 2023 included 52 weeks of activity and ended on December 29, 2023. Fiscal period 2022 included 52 weeks of activity and ended on December 30, 2022. Fiscal period 2025 is 52 weeks and will end on January 2, 2026.
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. Estimates are used for, but not limited to, revenue recognition, allowance for contract losses and doubtful accounts, stock-based compensation, income taxes, goodwill, the useful life of property, equipment and leasehold improvements, and operating lease liabilities. Actual results could differ from those estimates.
Foreign Currency Translation

Foreign Currency Translation

The Company translates the assets and liabilities of foreign subsidiaries, whose functional currency is the local currency, at exchange rates in effect at the balance sheet date. Revenues and expenses are translated at the average rates of exchange prevailing during the year. The adjustment resulting from translating the financial statements of such foreign subsidiaries is included in accumulated other comprehensive income/(loss), which is reflected as a separate component of stockholders’ equity.

Cash Equivalents

Cash Equivalents

Cash equivalents consist of highly liquid investments such as money market mutual funds, commercial paper and debt securities with original remaining maturities of three months or less from the date of purchase.
Allowances for Contract Losses and Doubtful Accounts

Allowances for Contract Losses and Doubtful Accounts

The Company maintains allowances for estimated losses 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 is 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 and forecasts of future economic conditions, aging of amounts due and changes in customer payment terms.
Property, Equipment and Leasehold Improvements

Property, Equipment and Leasehold Improvements

Property, equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are recognized using the straight-line method. Buildings are depreciated over their estimated useful lives ranging from 30 to 40 years. Equipment is depreciated over its estimated useful life, which generally ranges from 3 to 7 years. Leasehold improvements are amortized over the shorter of their estimated useful lives, generally 7 years, or the term of the related lease.
Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to future undiscounted cash flows to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company has not recognized impairment losses on any long-lived assets in 2024, 2023 or 2022.
Goodwill

Goodwill

The Company assesses the impairment of goodwill annually and whenever events or changes in circumstances indicate that the carrying amount may be impaired. The Company’s annual goodwill impairment review is completed during the fourth quarter of each year. The Company evaluates goodwill for each reporting unit for impairment by assessing qualitative factors to determine whether it is necessary to perform a quantitative goodwill impairment test. The Company considers events and circumstances, including but not limited to, macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in management or key personnel, changes in strategy, changes in customers, a change in the composition or carrying amount of a reporting unit’s net assets and changes in the price of its common stock. If, after assessing the totality of events or circumstances, the Company determines that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then the quantitative goodwill impairment test is not performed.

The Company completed its annual assessment for all reporting units with goodwill for 2024 and determined, after assessing the totality of the qualitative factors, that it is more likely than not that the fair value of each reporting unit is greater than its respective carrying amount. Accordingly, there was no indication of impairment of goodwill for any of the Company’s reporting units and the quantitative goodwill impairment test was not performed. The Company did not recognize any goodwill impairment losses in 2024, 2023 or 2022.

Deferred Revenues

Deferred Revenues

Deferred revenues represent amounts billed to clients in advance of services provided.

Income Taxes

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax basis and the financial reporting basis of assets and liabilities. Deferred tax assets and liabilities are measured using the enacted tax rates and laws in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities from changes in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized. An uncertain tax position is recognized if it is determined that it is more likely than not to be sustained upon examination. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits as income tax expense. Accrued interest and penalties are insignificant at January 3, 2025 and December 29, 2023.
Fair Value of Financial Instruments

Fair Value of Financial Instruments

Financial instruments consist of cash and cash equivalents, short-term investments, accounts receivable, other assets and accounts payable. Cash, cash equivalents and short-term investments are recorded at fair value. The carrying amount of the Company’s accounts receivable, other assets and accounts payable approximates their fair values due to their short maturities.
Stock-Based Compensation

Stock-Based Compensation

Stock-based compensation is measured at the grant date based on the fair value of the award and is recognized as expense on a straight-line basis over the requisite service period of the entire award. The Company accounts for forfeitures of stock-based awards when they occur.
Net Income Per Share

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 computed using the weighted-average number of common shares outstanding and potentially dilutive securities, using the treasury stock method if their effect would be dilutive.

The following schedule reconciles the denominators of the Company’s calculation for basic and diluted net income per share:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Shares used in basic per share computation

 

 

51,129

 

 

 

51,152

 

 

 

51,727

 

Effect of dilutive common stock options outstanding

 

 

166

 

 

 

188

 

 

 

204

 

Effect of unvested restricted stock units outstanding

 

 

274

 

 

 

295

 

 

 

349

 

Shares used in diluted per share computation

 

 

51,569

 

 

 

51,635

 

 

 

52,280

 

Common stock options to purchase 30,000 shares were excluded from the diluted per share calculation for 2024 due to their anti-dilutive effect. Common stock options to purchase 59,459 shares were excluded from the diluted per share calculation for 2023 due to their anti-dilutive effect. There were no equity awards excluded from the diluted per share calculation for 2022.
Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

On November 27, 2023, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This standard improves reportable segment disclosures by adding and enhancing interim disclosure requirements, clarifying circumstances in which entities can disclose multiple segment measures of profit or loss, providing new segment disclosure requirements for entities with a single reportable segment, and adding the disclosure of significant segment expenses that are regularly provided to the chief operating decision maker within each reported measure of segment profit and loss. This standard is effective for all entities that are subject to Topic 280, Segment Reporting for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company has included all required disclosures within its Form 10-K for the year ended December 31, 2024. See Note 17 for further information on segment disclosures.
Recently Accounting Pronouncements Not Yet Adopted

Recent Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (subtopic 220-40), which requires disclosure of disaggregation of certain relevant expenses included in the statements of operations on an annual and interim basis. ASU 2024-03 will be effective for our annual periods beginning January 1, 2027 and interim periods beginning January 1, 2028. The amendments must be applied retrospectively, and early adoption is permitted. The Company is currently evaluating the effects of adoption on our consolidated financial statements.
v3.25.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 03, 2025
Accounting Policies [Abstract]  
Reconciles Shares to Calculate Basic and Diluted Net Income Per Share

The following schedule reconciles the denominators of the Company’s calculation for basic and diluted net income per share:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Shares used in basic per share computation

 

 

51,129

 

 

 

51,152

 

 

 

51,727

 

Effect of dilutive common stock options outstanding

 

 

166

 

 

 

188

 

 

 

204

 

Effect of unvested restricted stock units outstanding

 

 

274

 

 

 

295

 

 

 

349

 

Shares used in diluted per share computation

 

 

51,569

 

 

 

51,635

 

 

 

52,280

 
v3.25.0.1
Revenue Recognition (Tables)
 12 Months Ended
Jan. 03, 2025
Revenue from Contract with Customer [Abstract]  
Summary of Percent of Revenues

The following table discloses the percent of the Company’s revenue generated from time and materials contracts:

 

 

Fiscal Years

 

 

2024

 

2023

 

2022

Engineering & Other Scientific

 

64%

 

63%

 

63%

Environmental and Health

 

15%

 

15%

 

16%

Total time and materials revenues

 

79%

 

78%

 

79%

 

The following table discloses the percent of the Company’s revenue generated from fixed price contracts:

 

 

Fiscal Years

 

 

2024

 

2023

 

2022

Engineering & Other Scientific

 

20%

 

20%

 

20%

Environmental and Health

 

1%

 

2%

 

1%

Total fixed price revenues

 

21%

 

22%

 

21%

 
v3.25.0.1
Cash and cash equivalents (Tables)
 12 Months Ended
Jan. 03, 2025
Cash and Cash Equivalents [Abstract]  
Cash and cash equivalents

Cash and cash equivalents consisted of the following as of January 3, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

(In thousands)

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Fair
Value

 

Classified as current assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

201,352

 

 

$

—

 

 

$

—

 

 

$

201,352

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

Money market securities

 

 

57,549

 

 

 

—

 

 

 

—

 

 

 

57,549

 

Total cash equivalents

 

 

57,549

 

 

 

—

 

 

 

—

 

 

 

57,549

 

Total cash and cash equivalents

 

 

258,901

 

 

 

—

 

 

 

—

 

 

 

258,901

 

 

 

Cash and cash equivalents consisted of the following as of December 29, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

(In thousands)

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Fair
Value

 

Classified as current assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

132,464

 

 

$

—

 

 

$

—

 

 

$

132,464

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

Money market securities

 

 

54,686

 

 

 

—

 

 

 

—

 

 

 

54,686

 

Total cash equivalents

 

 

54,686

 

 

 

—

 

 

 

—

 

 

 

54,686

 

Total cash and cash equivalents

 

 

187,150

 

 

 

—

 

 

 

—

 

 

 

187,150

 

 
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Jan. 03, 2025
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 January 3, 2025 (in thousands):

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Quoted
Prices in
Active Markets
for Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market securities (1)

 

$

57,549

 

 

$

57,549

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income trading securities held in
   deferred compensation plan (2)

 

 

42,291

 

 

 

42,291

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity trading securities held in deferred
   compensation plan (2)

 

 

85,546

 

 

 

85,546

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

185,386

 

 

$

185,386

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation plan (3)

 

 

127,622

 

 

 

127,622

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

127,622

 

 

$

127,622

 

 

$

—

 

 

$

—

 

 

(1)
Included in cash and cash equivalents on the Company’s consolidated balance sheet.
(2)
Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s consolidated balance sheet.
(3)
Included in accounts payable and accrued liabilities and deferred compensation plan liabilities on the Company’s consolidated balance sheet.

The fair value of these certain financial assets and liabilities was determined using the following inputs at December 29, 2023 (in thousands):

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Quoted
Prices in
Active Markets
for Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market securities (1)

 

$

54,686

 

 

$

54,686

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income trading securities held in
   deferred compensation plan (2)

 

 

36,788

 

 

 

36,788

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity trading securities held in deferred
   compensation plan (2)

 

 

78,399

 

 

 

78,399

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

169,873

 

 

$

169,873

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation plan (3)

 

 

116,564

 

 

 

116,564

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

116,564

 

 

$

116,564

 

 

$

—

 

 

$

—

 

 

(1)
Included in cash and cash equivalents on the Company’s consolidated balance sheet.
(2)
Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s consolidated balance sheet.
Included in accounts payable and accrued liabilities and deferred compensation plan liabilities on the Company’s consolidated balance sheet.
v3.25.0.1
Property, Equipment and Leasehold Improvements (Tables)
 12 Months Ended
Jan. 03, 2025
Property, Plant and Equipment [Abstract]  
Property, Equipment and Leasehold Improvements

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Property:

 

 

 

 

 

 

Land

 

$

18,339

 

 

$

18,339

 

Buildings

 

 

70,416

 

 

 

69,698

 

Construction in progress

 

 

219

 

 

 

1,114

 

Equipment:

 

 

 

 

 

 

Machinery and equipment

 

 

57,041

 

 

 

54,008

 

Office furniture and equipment

 

 

13,749

 

 

 

12,411

 

Leasehold improvements

 

 

25,445

 

 

 

23,759

 

 

 

185,209

 

 

 

179,329

 

Less accumulated depreciation and amortization

 

 

112,202

 

 

 

104,011

 

Property, equipment and leasehold improvements, net

 

$

73,007

 

 

$

75,318

 
v3.25.0.1
Other Significant Balance Sheet Components (Tables)
 12 Months Ended
Jan. 03, 2025
Significant Balance Sheet Components [Abstract]  
Account receivable, net

Account receivable, net

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Billed accounts receivable

 

$

117,503

 

 

$

128,052

 

Unbilled accounts receivable

 

 

50,045

 

 

 

44,589

 

Allowance for contract losses and doubtful accounts

 

 

(6,141

)

 

 

(5,281

)

Total accounts receivable, net

 

$

161,407

 

 

$

167,360

 

 
Accounts payable and accrued liabilities

Accounts payable and accrued liabilities

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Accounts payable

 

$

5,272

 

 

$

4,489

 

Accrued liabilities

 

 

16,864

 

 

 

17,636

 

Total accounts payable and other accrued liabilities

 

$

22,136

 

 

$

22,125

 

 
Accrued payroll and employee benefits

Accrued payroll and employee benefits

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Accrued bonuses payable

 

$

76,844

 

 

$

68,415

 

Accrued 401(k) contributions

 

 

10,807

 

 

 

11,138

 

Accrued vacation

 

 

14,433

 

 

 

13,492

 

Deferred compensation plan

 

 

14,976

 

 

 

13,166

 

Other accrued payroll and employee benefits

 

 

2,225

 

 

 

5,562

 

Total accrued payroll and employee benefits

 

$

119,285

 

 

$

111,773

 

 
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Jan. 03, 2025
Income Tax Disclosure [Abstract]  
Total Income Tax Expense

Total income tax expense for 2024, 2023 and 2022 consisted of the following:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Current

 

 

 

 

 

 

 

 

 

Federal

 

$

28,237

 

 

$

23,193

 

 

$

24,411

 

Foreign

 

 

3,041

 

 

 

2,254

 

 

 

1,973

 

State

 

 

10,393

 

 

 

10,025

 

 

 

10,883

 

 

 

41,671

 

 

 

35,472

 

 

 

37,267

 

Deferred

 

 

 

 

 

 

 

 

 

Federal

 

 

(2,665

)

 

 

(775

)

 

 

(4,910

)

State

 

 

(638

)

 

 

860

 

 

 

(2,453

)

 

 

(3,303

)

 

 

85

 

 

 

(7,363

)

Total

 

$

38,368

 

 

$

35,557

 

 

$

29,904

 
Company's Effective Tax Rate Differs From Statutory Federal Tax Rate

The Company’s effective tax rate differs from the statutory federal tax rate of 21% as shown in the following schedule:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Tax at federal statutory rate

 

$

30,948

 

 

$

28,538

 

 

$

27,769

 

State taxes, net of federal benefit

 

 

7,699

 

 

 

8,587

 

 

 

6,726

 

Non-deductible officer compensation

 

 

1,787

 

 

 

870

 

 

 

1,160

 

Non-deductible expenses

 

 

427

 

 

 

456

 

 

 

52

 

Non-deductible stock-based compensation

 

 

14

 

 

 

12

 

 

 

12

 

Excess tax benefit from equity incentive plans

 

 

(2,239

)

 

 

(2,844

)

 

 

(4,533

)

Difference between statutory rate and foreign effective tax rate

 

 

(194

)

 

 

(264

)

 

 

(693

)

Other

 

 

(74

)

 

 

202

 

 

 

(589

)

Tax expense

 

$

38,368

 

 

$

35,557

 

 

$

29,904

 

 

 

 

 

 

 

 

 

 

Effective tax rate

 

 

26.0

%

 

 

26.2

%

 

 

22.6

%

 
Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at January 3, 2025 and December 29, 2023 are presented in the following schedule:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

Deferred tax assets:

 

 

 

 

 

 

Accrued liabilities and allowances

 

$

22,831

 

 

$

21,235

 

Deferred compensation plan

 

 

43,222

 

 

 

40,280

 

Operating leases

 

 

22,782

 

 

 

7,853

 

Total deferred tax assets

 

$

88,835

 

 

$

69,368

 

 

 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

 

 

State taxes

 

$

(2,310

)

 

$

(2,255

)

Deductible goodwill

 

 

(2,065

)

 

 

(2,071

)

Operating leases

 

 

(22,782

)

 

 

(7,853

)

Unrealized gain of deferred compensation plan assets

 

 

(3,319

)

 

 

(1,652

)

Property, equipment and leasehold improvements

 

 

(1,232

)

 

 

(1,695

)

Other

 

 

—

 

 

 

(18

)

Total deferred tax liabilities

 

 

(31,708

)

 

 

(15,544

)

Net deferred tax assets

 

$

57,127

 

 

$

53,824

 

 
Reconciliation of The Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

Balance at December 30, 2022

 

$

2,047

 

  Additions based on tax positions related to the current year

 

 

571

 

  Reductions due to lapse of statute of limitations

 

 

(473

)

Balance at December 29, 2023

 

$

2,145

 

  Additions based on tax positions related to the current year

 

 

651

 

  Reductions due to lapse of statute of limitations

 

 

(369

)

Balance at January 3, 2025

 

$

2,427

 

 
v3.25.0.1
Stockholders' Equity (Tables)
 12 Months Ended
Jan. 03, 2025
Stockholders' Equity Note [Abstract]  
Cash Dividends Per Common Share

The Company declared and paid cash dividends per share of common stock during the periods presented as follows:

 

 

 

Fiscal Year

 

 

 

2024

 

 

 

Dividends

 

 

Amount

 

 

 

Per Share

 

 

(in thousands)

 

First Quarter

 

$

0.280

 

 

$

14,159

 

Second Quarter

 

$

0.280

 

 

 

14,193

 

Third Quarter

 

$

0.280

 

 

 

14,212

 

Fourth Quarter

 

$

0.280

 

 

 

14,226

 

 

 

 

 

$

56,790

 

 

 

 

 

 

 

 

 

 

Fiscal Year

 

 

 

2023

 

 

 

Dividends

 

 

Amount

 

 

 

Per Share

 

 

(in thousands)

 

First Quarter

 

$

0.260

 

 

$

13,169

 

Second Quarter

 

$

0.260

 

 

 

13,217

 

Third Quarter

 

$

0.260

 

 

 

13,177

 

Fourth Quarter

 

$

0.260

 

 

 

13,148

 

 

 

 

 

$

52,711

 
v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Jan. 03, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation, Restricted Stock Units Award Activity

The number of unvested restricted stock unit awards outstanding as of January 3, 2025 is as follows (1):

 

 

Number
of awards
outstanding

 

 

Weighted-
average
grant date
fair value

 

 

Weighted-
average
remaining
contractual
term (years)

 

 

Aggregate
intrinsic value
(in thousands) (2)

 

Balance at December 29, 2023

 

 

418,708

 

 

$

88.78

 

 

 

 

 

 

 

Awards granted

 

 

284,912

 

 

 

79.59

 

 

 

 

 

 

 

Awards vested

 

 

(266,859

)

 

 

74.70

 

 

 

 

 

 

 

Awards forfeited

 

 

(23,465

)

 

 

90.72

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 3, 2025

 

 

413,296

 

 

$

91.43

 

 

 

1.9

 

 

$

36,746

 

 

(1)
Does not include employee stock purchase plans or stock option plans.
(2)
The intrinsic value is calculated as the market value as of the end of the fiscal period. As reported by the NASDAQ Global Select Market, the market value as of January 3, 2025 was $88.91.
Stock Option Activity

Option activity is as follows (1):

 

 

Number
of shares
outstanding

 

 

Weighted-
average
exercise
price

 

 

Weighted-
average
remaining
contractual
term (years)

 

 

Aggregate
intrinsic value
(in thousands)

 

Exercisable at December 29, 2023

 

 

463,235

 

 

$

51.86

 

 

 

 

 

 

 

Options granted

 

 

40,000

 

 

 

75.87

 

 

 

 

 

 

 

Options forfeited and expired

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Options exercised

 

 

(124,206

)

 

 

31.37

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 3, 2025

 

 

379,029

 

 

$

61.11

 

 

 

4.80

 

 

$

11,267

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at January 3, 2025

 

 

289,446

 

 

$

52.79

 

 

 

3.76

 

 

$

10,726

 

 

(1)
Does not include restricted stock or employee stock purchase plans.
The Assumptions Used to Value Option Grants

The assumptions used to value option grants for 2024, 2023 and 2022 are as follows:

 

 

Stock Option Plan

 

 

 

Fiscal Years

 

 

 

2024

 

 

2023

 

 

2022

 

Expected term (in years)

 

 

5.7

 

 

 

5.8

 

 

 

5.6

 

Risk-free interest rate

 

 

4.26

%

 

 

3.99

%

 

 

1.90

%

Volatility

 

 

30

%

 

 

29

%

 

 

28

%

Dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

 
Stock-Based Compensation Expense Recognized in Consolidated Statements of Income

The amount of stock-based compensation expense and the related income tax benefit recognized in the Company’s consolidated statements of income for 2024, 2023 and 2022 is as follows:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Compensation and related expenses:

 

 

 

 

 

 

 

 

 

Restricted stock units

 

$

21,086

 

 

$

18,542

 

 

$

18,810

 

Stock option grants

 

 

1,423

 

 

 

1,081

 

 

 

835

 

Sub-total

 

 

22,509

 

 

 

19,623

 

 

 

19,645

 

 

 

 

 

 

 

 

 

 

General and administrative expenses:

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

730

 

 

 

734

 

 

 

719

 

Sub-total

 

 

730

 

 

 

734

 

 

 

719

 

Total stock-based compensation expense

 

$

23,239

 

 

$

20,357

 

 

$

20,364

 

 

 

 

 

 

 

 

 

 

Income tax benefit

 

$

2,793

 

 

$

3,620

 

 

$

5,829

 

 
v3.25.0.1
Leases (Tables)
 12 Months Ended
Jan. 03, 2025
Leases [Abstract]  
Lease, Cost

The components of lease expense included in other operating expenses on the consolidated statements of income were as follows:

 

 

Fiscal Year

 

 

Fiscal Year

 

 

Fiscal Year

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Operating lease cost

 

$

11,061

 

 

$

7,732

 

 

$

7,050

 

Variable lease cost

 

 

1,425

 

 

 

1,635

 

 

 

1,263

 

Short-term lease cost

 

 

1,345

 

 

 

1,174

 

 

 

651

 

 
Supplemental Cash Flow Information Related to Operating Lease

Supplemental cash flow information related to operating leases was as follows:

 

 

Fiscal Year

 

 

Fiscal Year

 

 

Fiscal Year

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

7,559

 

 

$

7,249

 

 

$

6,564

 

 
Supplemental Balance Sheet Information Related to Operating Lease

Supplemental balance sheet information related to operating leases was as follows:

 

 

Fiscal Year

 

Fiscal Year

 

Fiscal Year

 

 

2024

 

2023

 

2022

Weighted Average Remaining Lease Term

 

13.7 years

 

6.1 years

 

4.1 years

Weighted Average Discount Rate

 

6.3%

 

5.1%

 

4.3%

 
Maturities of Lease Liabilities

Maturities of operating lease liabilities as of January 3, 2025:

 

 

Operating

 

(In thousands)

 

Leases

 

2025

 

 

8,001

 

2026

 

 

7,756

 

2027

 

 

6,633

 

2028

 

 

9,666

 

2029

 

 

9,390

 

Thereafter

 

 

89,052

 

Total lease payments

 

$

130,498

 

Less imputed interest

 

 

49,021

 

Total lease liability

 

$

81,477

 
v3.25.0.1
Miscellaneous Income, Net (Tables)
 12 Months Ended
Jan. 03, 2025
Other Income and Expenses [Abstract]  
Miscellaneous income, net

Miscellaneous income, net, consisted of the following:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Rental income

 

$

2,853

 

 

$

3,371

 

 

$

2,938

 

Gain (loss) on deferred compensation investments

 

 

14,928

 

 

 

14,315

 

 

 

(14,187

)

Gain (loss) on foreign exchange

 

 

(14

)

 

 

(259

)

 

 

522

 

Other

 

 

45

 

 

 

(3

)

 

 

23

 

Total

 

$

17,812

 

 

$

17,424

 

 

$

(10,704

)
v3.25.0.1
Supplemental Cash Flow Information (Tables)
 12 Months Ended
Jan. 03, 2025
Supplemental Cash Flow Information [Abstract]  
Supplemental Disclosure of Cash Flow Information

The following is supplemental disclosure of cash flow information:

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Cash paid during the year:

 

 

 

 

 

 

 

 

 

Income taxes

 

$

39,723

 

 

$

38,944

 

 

$

40,121

 

Non-cash investing and financing activities:

 

 

 

 

 

 

 

 

 

Vested stock unit awards granted to settle accrued bonus

 

 

10,846

 

 

 

10,496

 

 

 

10,200

 

Right-of-use asset obtained in exchange for operating
   lease obligation

 

 

58,032

 

 

 

15,749

 

 

 

9,476

 

Leasehold improvements obtained in exchange for right-of-use asset

 

 

-

 

 

 

3,219

 

 

 

-

 

Accrual for capital expenditures

 

 

575

 

 

 

137

 

 

 

1,017

 
v3.25.0.1
Segment Reporting (Tables)
 12 Months Ended
Jan. 03, 2025
Segment Reporting [Abstract]  
Segment Reporting Information, by Segment

Segment information is presented for selected data from the statements of income and statements of cash flows for 2024, 2023 and 2022. Segment information for selected data from the balance sheets is presented for the fiscal years ended January 3, 2025 and December 29, 2023. The Company’s CEO, the chief operating decision maker, does not review total assets in her evaluation of segment performance and capital allocation.

Revenues

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

469,544

 

 

$

446,888

 

 

$

427,796

 

Environmental and Health

 

 

88,970

 

 

 

89,878

 

 

 

85,497

 

Total revenues

 

$

558,514

 

 

$

536,766

 

 

$

513,293

 

 

Compensation and related expenses

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

223,395

 

 

$

215,650

 

 

$

195,243

 

Environmental and Health

 

 

47,600

 

 

 

48,619

 

 

 

47,288

 

 

 

 

 

 

 

 

 

 

Total segment compensation and related expenses

 

 

270,995

 

 

 

264,269

 

 

 

242,531

 

 

 

 

 

 

 

 

 

 

Corporate compensation and related expenses

 

 

59,016

 

 

 

55,617

 

 

 

21,704

 

 

 

 

 

 

 

 

 

 

Total compensation and related expenses

 

$

330,011

 

 

$

319,886

 

 

$

264,235

 

 

Certain expenses are excluded from the Company’s measure of segment compensation and related expenses. These include the deferred compensation expense/benefit due to changes in value of assets associated with the Company’s deferred compensation plan; stock-based compensation associated with restricted stock unit and stock option awards, and the compensation costs associated with the Company’s human resources, finance, information technology, corporate, and business development groups.

 

Operating Income

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

164,883

 

 

$

153,918

 

 

$

152,679

 

Environmental and Health

 

 

29,995

 

 

 

28,432

 

 

 

27,340

 

 

 

 

 

 

 

 

 

 

Total segment operating income

 

 

194,878

 

 

 

182,350

 

 

 

180,019

 

 

 

 

 

 

 

 

 

 

Corporate operating expense

 

 

(75,321

)

 

 

(71,028

)

 

 

(39,177

)

Total operating income

 

$

119,557

 

 

$

111,322

 

 

$

140,842

 

 

Capital Expenditures

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

3,257

 

 

$

3,895

 

 

$

4,661

 

Environmental and Health

 

 

77

 

 

 

170

 

 

 

174

 

 

 

 

 

 

 

 

 

 

Total segment capital expenditures

 

 

3,334

 

 

 

4,065

 

 

 

4,835

 

 

 

 

 

 

 

 

 

 

Corporate capital expenditures

 

 

4,043

 

 

 

14,630

 

 

 

7,812

 

Total capital expenditures

 

$

7,377

 

 

$

18,695

 

 

$

12,647

 

 

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

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Engineering and Other Scientific

 

$

6,833

 

 

$

6,087

 

 

$

4,489

 

Environmental and Health

 

 

206

 

 

 

213

 

 

 

171

 

 

 

 

 

 

 

 

 

 

Total segment depreciation and amortization

 

 

7,039

 

 

 

6,300

 

 

 

4,660

 

 

 

 

 

 

 

 

 

 

Corporate depreciation and amortization

 

 

2,650

 

 

 

2,616

 

 

 

2,419

 

Total depreciation and amortization

 

$

9,689

 

 

$

8,916

 

 

$

7,079

 

 
Operations In Different Geographical Areas

Information regarding the Company’s operations in different geographical areas:

Property, Equipment and Leasehold Improvements, net

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

United States

 

$

72,418

 

 

$

74,668

 

Foreign Countries

 

 

589

 

 

 

650

 

Total

 

$

73,007

 

 

$

75,318

 

 

Revenues (1)

 

 

Fiscal Years

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

United States

 

$

493,067

 

 

$

470,078

 

 

$

450,445

 

Foreign Countries

 

 

65,447

 

 

 

66,688

 

 

 

62,848

 

 

 

 

 

 

 

 

 

 

Total

 

$

558,514

 

 

$

536,766

 

 

$

513,293

 

 

(1)
Geographic revenues are allocated based on the location of the client.
Schedule of Goodwill

Below is a breakdown of goodwill, reported by segment as of January 3, 2025 and December 29, 2023:

(In thousands)

 

Environmental
and Health

 

 

Engineering
and Other
Scientific

 

 

Total

 

Goodwill

 

$

8,099

 

 

$

508

 

 

$

8,607

 

 
v3.25.0.1
Summary of Significant Accounting Policies - Additional Information (Detail)
 12 Months Ended
Jan. 03, 2025
Segment
shares
Dec. 29, 2023
shares
Dec. 30, 2022
shares
Summary Of Significant Accounting Policies [Line Items]      
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares 30,000 59,459 0
Number of reportable segment | Segment 1    
Buildings | Minimum      
Summary Of Significant Accounting Policies [Line Items]      
Estimated useful life 30 years    
Buildings | Maximum      
Summary Of Significant Accounting Policies [Line Items]      
Estimated useful life 40 years    
Equipment | Minimum      
Summary Of Significant Accounting Policies [Line Items]      
Estimated useful life 3 years    
Equipment | Maximum      
Summary Of Significant Accounting Policies [Line Items]      
Estimated useful life 7 years    
Leasehold Improvements      
Summary Of Significant Accounting Policies [Line Items]      
Estimated useful life 7 years    
v3.25.0.1
Reconciles the Denominators of the Company's Calculation for Basic and Diluted Net Income per Share (Detail) - shares
shares in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Schedule Of Earnings Per Share Basic and Diluted [Line Items]      
Shares used in basic per share computation 51,129 51,152 51,727
Shares used in diluted per share computation 51,569 51,635 52,280
Employee Stock Option      
Schedule Of Earnings Per Share Basic and Diluted [Line Items]      
Effect of dilutive stock outstanding 166 188 204
Restricted Stock Units (RSUs)      
Schedule Of Earnings Per Share Basic and Diluted [Line Items]      
Effect of dilutive stock outstanding 274 295 349
v3.25.0.1
Revenue Recognition - Summary of Revenues (Detail) - Sales Revenue, Net [Member] - Revenue from Rights Concentration Risk [Member]
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Time And Materials Contracts [Member]      
Disaggregation Of Revenue [Line Items]      
Concentration Risk, Percentage 79.00% 78.00% 79.00%
Time And Materials Contracts [Member] | Engineering and Other Scientific [Member]      
Disaggregation Of Revenue [Line Items]      
Concentration Risk, Percentage 64.00% 63.00% 63.00%
Time And Materials Contracts [Member] | Environmental and Health [Member]      
Disaggregation Of Revenue [Line Items]      
Concentration Risk, Percentage 15.00% 15.00% 16.00%
Fixed Price Contracts [Member]      
Disaggregation Of Revenue [Line Items]      
Concentration Risk, Percentage 21.00% 22.00% 21.00%
Fixed Price Contracts [Member] | Engineering and Other Scientific [Member]      
Disaggregation Of Revenue [Line Items]      
Concentration Risk, Percentage 20.00% 20.00% 20.00%
Fixed Price Contracts [Member] | Environmental and Health [Member]      
Disaggregation Of Revenue [Line Items]      
Concentration Risk, Percentage 1.00% 2.00% 1.00%
v3.25.0.1
Revenue Recognition - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Revenue Recognition [Abstract]      
Deferred Revenue, Revenue Recognized $ 14,173,000 $ 14,463,000 $ 15,384,000
Subcontractor Fees Not Included In Revenues $ 10,970,000 $ 12,268,000 $ 28,754,000
v3.25.0.1
Cash and cash equivalents (Detail) - USD ($)
$ in Thousands
Jan. 03, 2025
Dec. 29, 2023
Cash    
Fair Value Measurements [Line Items]    
Amortized Cost $ 201,352 $ 132,464
Unrealized Gains 0 0
Unrealized Losses 0 0
Estimated Fair Value 201,352 132,464
Money market securities    
Fair Value Measurements [Line Items]    
Amortized Cost 57,549 54,686
Unrealized Gains 0 0
Unrealized Losses 0 0
Estimated Fair Value 57,549 54,686
Total cash equivalents    
Fair Value Measurements [Line Items]    
Amortized Cost 57,549 54,686
Unrealized Gains 0 0
Unrealized Losses 0 0
Estimated Fair Value 57,549 54,686
Total cash and cash equivalents    
Fair Value Measurements [Line Items]    
Amortized Cost 258,901 187,150
Unrealized Gains 0 0
Unrealized Losses 0 0
Estimated Fair Value $ 258,901 $ 187,150
v3.25.0.1
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)
Jan. 03, 2025
Dec. 29, 2023
Assets    
Trading securities held in deferred compensation plan $ 127,837,000 $ 115,187,000
Total 185,386,000 169,873,000
Liabilities    
Deferred compensation plan 127,622,000 [1] 116,564,000 [2]
Total 127,622,000 116,564,000
Money market securities    
Assets    
Money market securities 57,549,000 [3] 54,686,000 [4]
Fixed income securities    
Assets    
Trading securities held in deferred compensation plan 42,291,000 [5] 36,788,000 [6]
Equity securities    
Assets    
Trading securities held in deferred compensation plan 85,546,000 [5] 78,399,000 [6]
Fair Value, Inputs, Level 1    
Assets    
Total 185,386,000 169,873,000
Liabilities    
Deferred compensation plan 127,622,000 [1] 116,564,000 [2]
Total 127,622,000 116,564,000
Fair Value, Inputs, Level 1 | Money market securities    
Assets    
Money market securities 57,549,000 [3] 54,686,000 [4]
Fair Value, Inputs, Level 1 | Fixed income securities    
Assets    
Trading securities held in deferred compensation plan 42,291,000 [5] 36,788,000 [6]
Fair Value, Inputs, Level 1 | Equity securities    
Assets    
Trading securities held in deferred compensation plan 85,546,000 [5] 78,399,000 [6]
Fair Value, Inputs, Level 2    
Assets    
Total 0 0
Liabilities    
Deferred compensation plan 0 [1] 0 [2]
Total 0 0
Fair Value, Inputs, Level 2 | Money market securities    
Assets    
Money market securities 0 [3] 0 [4]
Fair Value, Inputs, Level 2 | Fixed income securities    
Assets    
Trading securities held in deferred compensation plan 0 [5] 0 [6]
Fair Value, Inputs, Level 2 | Equity securities    
Assets    
Trading securities held in deferred compensation plan 0 [5] 0 [6]
Fair Value, Inputs, Level 3    
Assets    
Total 0 0
Liabilities    
Deferred compensation plan 0 [1] 0 [2]
Total 0 0
Fair Value, Inputs, Level 3 | Money market securities    
Assets    
Money market securities 0 [3] 0 [4]
Fair Value, Inputs, Level 3 | Fixed income securities    
Assets    
Trading securities held in deferred compensation plan 0 [5] 0 [6]
Fair Value, Inputs, Level 3 | Equity securities    
Assets    
Trading securities held in deferred compensation plan $ 0 [5] $ 0 [6]
[1] Included in accounts payable and accrued liabilities and deferred compensation plan liabilities on the Company’s consolidated balance sheet.
[2] Included in accounts payable and accrued liabilities and deferred compensation plan liabilities on the Company’s consolidated balance sheet.
[3] Included in cash and cash equivalents on the Company’s consolidated balance sheet.
[4] Included in cash and cash equivalents on the Company’s consolidated balance sheet.
[5] Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s consolidated balance sheet.
[6] Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s consolidated balance sheet.
v3.25.0.1
Property, Equipment and Leasehold Improvements (Detail) - USD ($)
$ in Thousands
Jan. 03, 2025
Dec. 29, 2023
Property:    
Land $ 18,339 $ 18,339
Buildings 70,416 69,698
Construction in progress 219 1,114
Equipment:    
Machinery and equipment 57,041 54,008
Office furniture and equipment 13,749 12,411
Leasehold improvements 25,445 23,759
Property, Plant and Equipment, Gross, Total 185,209 179,329
Less accumulated depreciation and amortization 112,202 104,011
Property, equipment and leasehold improvements, net $ 73,007 $ 75,318
v3.25.0.1
Property, Equipment and Leasehold Improvements - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Property, Plant and Equipment [Abstract]      
Depreciation and amortization of property, equipment and leasehold improvements $ 9,689,000 $ 8,916,000 $ 7,079,000
v3.25.0.1
Accounts Receivable, Net (Detail) - USD ($)
$ in Thousands
Jan. 03, 2025
Dec. 29, 2023
Accounts Notes And Loans Receivable [Line Items]    
Allowance for contract losses and doubtful accounts $ (6,141) $ (5,281)
Total accounts receivable, net 161,407 167,360
Billed accounts receivable    
Accounts Notes And Loans Receivable [Line Items]    
Accounts Receivable 117,503 128,052
Unbilled accounts receivable    
Accounts Notes And Loans Receivable [Line Items]    
Accounts Receivable $ 50,045 $ 44,589
v3.25.0.1
Accounts Payable and Accrued Liabilities (Detail) - USD ($)
$ in Thousands
Jan. 03, 2025
Dec. 29, 2023
Accounts Payable and Accrued Liabilities [Abstract]    
Accounts payable $ 5,272 $ 4,489
Accrued liabilities 16,864 17,636
Total accounts payable and other accrued liabilities $ 22,136 $ 22,125
v3.25.0.1
Accrued Payroll and Employee Benefits (Detail) - USD ($)
$ in Thousands
Jan. 03, 2025
Dec. 29, 2023
Employee-related Liabilities, Current [Abstract]    
Accrued bonuses payable $ 76,844 $ 68,415
Accrued 401(k) contributions 10,807 11,138
Accrued vacation 14,433 13,492
Deferred compensation plan 14,976 13,166
Other accrued payroll and employee benefits 2,225 5,562
Total accrued payroll and employee benefits $ 119,285 $ 111,773
v3.25.0.1
Income Taxes - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Income Tax Disclosure [Abstract]      
Income (Loss) from Continuing Operations before Income Taxes, Foreign $ 13,135,000 $ 10,353,000 $ 10,646,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 21.00% 21.00% 21.00%
Total Excess Tax Benefit From Share Based Compensation $ 2,793,000 $ 3,620,000 $ 5,829,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate 1,918,000    
Unrecognized Liability For Uncertain Tax Positions For Next Twelve Months $ 0    
v3.25.0.1
Total Income Tax Expense (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Current      
Federal $ 28,237 $ 23,193 $ 24,411
Foreign 3,041 2,254 1,973
State 10,393 10,025 10,883
Current Income Tax Expense 41,671 35,472 37,267
Deferred      
Federal (2,665) (775) (4,910)
State (638) 860 (2,453)
Deferred Income Tax Expense (3,303) 85 (7,363)
Total $ 38,368 $ 35,557 $ 29,904
v3.25.0.1
Company's Effective Tax Rate Differs From Statutory Federal Tax Rate (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Income Tax Disclosure [Abstract]      
Tax at federal statutory rate $ 30,948 $ 28,538 $ 27,769
State taxes, net of federal benefit 7,699 8,587 6,726
Non-deductible officer compensation 1,787 870 1,160
Non-deductible expenses 427 456 52
Non-deductible stock-based compensation 14 12 12
Excess tax benefit from equity incentive plans (2,239) (2,844) (4,533)
Difference between statutory rate and foreign effective tax rate (194) (264) (693)
Other (74) 202 (589)
Total $ 38,368 $ 35,557 $ 29,904
Effective tax rate 26.00% 26.20% 22.60%
v3.25.0.1
Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - USD ($)
$ in Thousands
Jan. 03, 2025
Dec. 29, 2023
Deferred tax assets:    
Accrued liabilities and allowances $ 22,831 $ 21,235
Deferred compensation plan 43,222 40,280
Operating leases 22,782 7,853
Total deferred tax assets 88,835 69,368
Deferred tax liabilities:    
State taxes (2,310) (2,255)
Deductible goodwill (2,065) (2,071)
Operating leases (22,782) (7,853)
Unrealized gain of deferred compensation plan assets (3,319) (1,652)
Property, equipment and leasehold improvements (1,232) (1,695)
Other   (18)
Total deferred tax liabilities (31,708) (15,544)
Net deferred tax assets $ 57,127 $ 53,824
v3.25.0.1
Reconciliation of The Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Schedule Of Unrecognized Tax Benefits [Abstract]    
Balance $ 2,145 $ 2,047
Additions based on tax positions related to the current year 651 571
Reductions due to lapse of statute of limitations (369) (473)
Balance $ 2,427 $ 2,145
v3.25.0.1
Stockholders' Equity - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Feb. 01, 2024
Feb. 22, 2022
Stockholders' Equity Note [Abstract]          
Preferred stock, shares authorized 2,000,000 2,000,000      
Preferred stock, par or stated value per share $ 0.001 $ 0.001      
Preferred stock, shares issued 0 0      
Preferred stock, shares outstanding 0 0      
Net losses related to the re-issuance of treasury stock $ 720,000 $ 1,009,000 $ 1,392,000    
Purchase of treasury shares (in shares) 74,000 288,000 1,756,000    
Purchase of treasury shares $ 5,710,000 $ 24,208,000 $ 155,856,000    
Stock repurchase program, authorized amount       $ 61,600,000 $ 150,000,000
Stock repurchase program, remaining authorized repurchase amount $ 94,290,000        
v3.25.0.1
Stockholders' Equity (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Jan. 03, 2025
Sep. 27, 2024
Jun. 28, 2024
Mar. 29, 2024
Dec. 29, 2023
Sep. 29, 2023
Jun. 30, 2023
Mar. 31, 2023
Jan. 03, 2025
Dec. 29, 2023
Stockholders' Equity Note [Abstract]                    
Dividends Per Share $ 0.28 $ 0.28 $ 0.28 $ 0.28 $ 0.26 $ 0.26 $ 0.26 $ 0.26    
Amount $ 14,226 $ 14,212 $ 14,193 $ 14,159 $ 13,148 $ 13,177 $ 13,217 $ 13,169 $ 56,790 $ 52,711
v3.25.0.1
Stock-Based Compensation - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 21,286,000 $ 25,277,000 $ 29,875,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 79.59 $ 99.47 $ 94.24
Share Based Compensation Arrangement By Share Based Payment Award Options Expiration Term 10 years    
Total intrinsic value of options exercised $ 8,410,000 $ 742,000 $ 0
Weighted average fair value of options granted $ 28.36 $ 38.29 $ 26.64
Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of annual bonus settled with fully vested restricted stock unit awards 40.00%    
2008 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total number of shares reserved for issuance 13,336,300    
Number of Shares Available for Grant 2,313,565    
Employee Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total number of shares reserved for issuance 1,200,000    
Number of Shares Available for Grant 275,324    
Weighted average purchase price $ 88.7 $ 87.12 $ 91.17
Purchase Price Of Common Stock As a Percentage of Fair Market Value 95.00%    
Employee Stock Purchase Plan | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Maximum Percentage Of Payroll Deductions Related To Purchase Of Common Stock 15.00%    
Vested Restricted Stock Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock based compensation, holding period 4 years    
Stock based compensation expense $ 12,182,000 $ 10,445,000 $ 10,365,000
Unvested Restricted Stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock based compensation, vesting period 4 years    
Stock based compensation expense $ 9,634,000 8,831,000 9,164,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value [1] $ 79.59    
Unrecognized compensation cost $ 12,984,000    
Weighted average period of recognized term 2 years 6 months    
Unvested Restricted Stock | Minimum      
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 $ 1,423,000 $ 1,081,000 $ 835,000
Unrecognized compensation cost $ 1,253,000    
Weighted average period of recognized term 2 years 1 month 6 days    
Unvested Stock Options | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Recipient age to expense award on grant date 59 years 6 months    
[1] Does not include employee stock purchase plans or stock option plans.
v3.25.0.1
Number of Unvested Restricted Stock Unit Awards Outstanding (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted-average grant date fair value, awards granted $ 79.59 $ 99.47 $ 94.24
Unvested Restricted Stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares outstanding, awards balance [1] 418,708    
Number of shares outstanding, awards granted [1] 284,912    
Number of shares outstanding, awards vested [1] (266,859)    
Number of shares outstanding, awards forfeited [1] (23,465)    
Balance at January 3, 2025 [1] 413,296 418,708  
Weighted-average grant date fair value, awards balance [1] $ 88.78    
Weighted-average grant date fair value, awards granted [1] 79.59    
Weighted-average grant date fair value, awards vested [1] 74.7    
Weighted-average grant date fair value, awards forfeited [1] 90.72    
Weighted-average grant date fair value, awards balance [1] $ 91.43 $ 88.78  
Weighted average remaining contractual term, Balance [1] 1 year 10 months 24 days    
Aggregate intrinsic value, Balance [1],[2] $ 36,746    
[1] Does not include employee stock purchase plans or stock option plans.
[2] The intrinsic value is calculated as the market value as of the end of the fiscal period. As reported by the NASDAQ Global Select Market, the market value as of January 3, 2025 was $88.91.
v3.25.0.1
Number of Unvested Restricted Stock Unit Awards Outstanding (Parenthetical) (Detail)
Jan. 03, 2025
$ / shares
Unvested Restricted Stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instrument Other than Option, Nonvested, Intrinsic Value $ 88.91
v3.25.0.1
Option Activity (Detail)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 03, 2025
USD ($)
$ / shares
shares
 [1]
Share-Based Payment Arrangement [Abstract]  
Number of shares outstanding, Options Balance | shares 463,235
Number of shares outstanding, Options Granted | shares 40,000
Number of shares outstanding, Options forfeited and expired | shares 0
Exercise of stock options (in shares) | shares (124,206)
Number of shares outstanding, Options Balance | shares 379,029
Number of shares outstanding, Exercisable | shares 289,446
Weighted-average exercise price, Options Balance | $ / shares $ 51.86
Weighted-average exercise price, Options Granted | $ / shares 75.87
Weighted-average exercise price, Options forfeited and expired | $ / shares 0
Weighted-average exercise price, Options Exercised | $ / shares 31.37
Weighted-average exercise price, Options Balance | $ / shares 61.11
Weighted-average exercise price, Exercisable | $ / shares $ 52.79
Weighted average remaining contractual term, Balance 4 years 9 months 18 days
Weighted average remaining contractual term, Exercisable 3 years 9 months 3 days
Aggregate intrinsic value, Balance | $ $ 11,267
Aggregate intrinsic value, Exercisable | $ $ 10,726
[1] Does not include restricted stock or employee stock purchase plans.
v3.25.0.1
Assumptions Used to Value Option Grants (Detail) - Employee Stock Option
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term (in years) 5 years 8 months 12 days 5 years 9 months 18 days 5 years 7 months 6 days
Risk-free interest rate 4.26% 3.99% 1.90%
Volatility 30.00% 29.00% 28.00%
Dividend yield 0.00% 0.00% 0.00%
v3.25.0.1
Stock-Based Compensation Expense (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation $ 23,239 $ 20,357 $ 20,364
Income tax benefit 2,793 3,620 5,829
Compensation and Related Expenses [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 22,509 19,623 19,645
Compensation and Related Expenses [Member] | Restricted Stock [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 21,086 18,542 18,810
Compensation and Related Expenses [Member] | Employee Stock Option [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 1,423 1,081 835
General and Administrative Expenses [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 730 734 719
General and Administrative Expenses [Member] | Restricted Stock [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation $ 730 $ 734 $ 719
v3.25.0.1
Retirement Plans - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Retirement Benefits [Abstract]      
Defined Contribution Plan Employer Contribution Percentage Of Eligible Wages 7.00%    
Defined Contribution Plan Employer Contribution Annual Vesting Percentage 20.00%    
Defined Contribution Plan Employer Contribution Annual Vesting Period 5 years    
Pension and Other Postretirement Benefits Cost (Reversal of Cost) $ 11,704,000 $ 11,867,000 $ 10,166,000
v3.25.0.1
Deferred Compensation Plans - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]      
Trading securities held in deferred compensation plan $ 127,837,000 $ 115,187,000  
Deferred compensation plan 127,622,000 [1] 116,564,000 [2]  
Change in market value of trust assets $ 14,928,000 $ 14,315,000 $ (14,187,000)
Maximum      
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]      
Percentage of compensation deferred 100.00%    
[1] Included in accounts payable and accrued liabilities and deferred compensation plan liabilities on the Company’s consolidated balance sheet.
[2] Included in accounts payable and accrued liabilities and deferred compensation plan liabilities on the Company’s consolidated balance sheet.
v3.25.0.1
Leases - Additional Information (Detail)
 3 Months Ended 12 Months Ended
Jun. 19, 2024
USD ($)
Jun. 28, 2024
USD ($)
Jan. 03, 2025
USD ($)
a
State
Option
Dec. 29, 2023
USD ($)
Dec. 30, 2022
USD ($)
Lessee Lease Description [Line Items]          
Lease payment obligation per year     $ 130,498,000    
Additional right-of-use asset in exchange for operating lease liability     $ 58,032,000 $ 15,749,000 $ 9,476,000
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, Option to Extend     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 15-year periods.    
Lessee, Operating Lease, Existence of Option to Extend [true false]     true    
Lessee, Operating Lease, Renewal Term 15 years   15 years    
Annual rent payment adjustment year one 2033        
Annual rent payment adjustment year two 2038        
Additional right-of-use asset in exchange for operating lease liability   $ 48,683,000      
Phoenix Arizona [Member] | Lease Period Until January 16, 2028 [Member]          
Lessee Lease Description [Line Items]          
Lease payment obligation per year $ 1,009,000        
Phoenix Arizona [Member] | Lease Period After January 16, 2028 [Member]          
Lessee Lease Description [Line Items]          
Lease payment obligation per year $ 6,183,000        
v3.25.0.1
Components of Lease Expense (Detail) - Other Operating Income (Expense) [Member] - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Operating lease cost $ 11,061 $ 7,732 $ 7,050
Variable lease cost 1,425 1,635 1,263
Short-term lease cost $ 1,345 $ 1,174 $ 651
v3.25.0.1
Supplemental Cash Flow Information Related to Operating Leases (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Leases [Abstract]      
Cash paid for amounts included in the measurement of operating lease liabilities $ 7,559 $ 7,249 $ 6,564
v3.25.0.1
Supplemental Balance Sheet Information Related to Operating Leases (Detail)
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Leases [Abstract]      
Weighted Average Remaining Lease Term 13 years 8 months 12 days 6 years 1 month 6 days 4 years 1 month 6 days
Weighted Average Discount Rate 6.30% 5.10% 4.30%
v3.25.0.1
Maturities of Lease Liabilities (Detail)
$ in Thousands
Jan. 03, 2025
USD ($)
Leases [Abstract]  
2025 $ 8,001
2026 7,756
2027 6,633
2028 9,666
2029 9,390
Thereafter 89,052
Total lease payments 130,498
Less imputed interest 49,021
Total lease liability $ 81,477
v3.25.0.1
Miscellaneous Income, Net (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Other Income and Expenses [Abstract]      
Rental income $ 2,853 $ 3,371 $ 2,938
Gain (loss) on deferred compensation investments 14,928 14,315 (14,187)
Gain (loss) on foreign exchange (14) (259) 522
Other 45 (3) 23
Total $ 17,812 $ 17,424 $ (10,704)
v3.25.0.1
Industry and Client Credit Risk - Additional Information (Detail) - Sales Revenue, Net [Member] - Client
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Revenue from Rights Concentration Risk [Member] | Single Client      
Concentration Risk [Line Items]      
Fiscal Years 10.00% 10.00% 15.00%
Number of clients comprised more than 10% of revenue or accounts receivable 0 0 1
Consumer Products [Member] | Customer Concentration Risk [Member]      
Concentration Risk [Line Items]      
Fiscal Years 24.00%    
Energy and Utilities [Member] | Customer Concentration Risk [Member]      
Concentration Risk [Line Items]      
Fiscal Years 19.00%    
Transportation Industry [Member] | Customer Concentration Risk [Member]      
Concentration Risk [Line Items]      
Fiscal Years 16.00%    
Chemical Industry [Member] | Customer Concentration Risk [Member]      
Concentration Risk [Line Items]      
Fiscal Years 10.00%    
v3.25.0.1
Supplemental Disclosure of Cash Flow Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Cash paid during the year:      
Income taxes $ 39,723 $ 38,944 $ 40,121
Non-cash investing and financing activities:      
Vested stock unit awards granted to settle accrued bonus 10,846 10,496 10,200
Right-of-use asset obtained in exchange for operating lease obligation 58,032 15,749 9,476
Leasehold improvements obtained in exchange for right-of-use asset 0 3,219 0
Accrual for capital expenditures $ 575 $ 137 $ 1,017
v3.25.0.1
Segment Reporting - Additional Information (Detail)
 12 Months Ended
Jan. 03, 2025
USD ($)
Segment
Dec. 29, 2023
USD ($)
Dec. 30, 2022
USD ($)
Segment Reporting [Abstract]      
Number of reportable operating segments | Segment 2    
Changes in the carrying amount of goodwill $ 0 $ 0 $ 0
Goodwill impairments or gains or losses on disposals $ 0 $ 0 $ 0
v3.25.0.1
Segment Information (Detail) - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Segment Reporting Information [Line Items]      
Revenues $ 558,514,000 $ 536,766,000 $ 513,293,000
Compensation and related expenses 330,011,000 319,886,000 264,235,000
Operating Income 119,557,000 111,322,000 140,842,000
Capital Expenditures 7,377,000 18,695,000 12,647,000
Depreciation and Amortization 9,689,000 8,916,000 7,079,000
Operating segments      
Segment Reporting Information [Line Items]      
Compensation and related expenses 270,995,000 264,269,000 242,531,000
Operating Income 194,878,000 182,350,000 180,019,000
Capital Expenditures 3,334,000 4,065,000 4,835,000
Depreciation and Amortization 7,039,000 6,300,000 4,660,000
Corporate      
Segment Reporting Information [Line Items]      
Compensation and related expenses 59,016,000 55,617,000 21,704,000
Operating Income (75,321,000) (71,028,000) (39,177,000)
Capital Expenditures 4,043,000 14,630,000 7,812,000
Depreciation and Amortization 2,650,000 2,616,000 2,419,000
Engineering and Other Scientific | Operating segments      
Segment Reporting Information [Line Items]      
Revenues 469,544,000 446,888,000 427,796,000
Compensation and related expenses 223,395,000 215,650,000 195,243,000
Operating Income 164,883,000 153,918,000 152,679,000
Capital Expenditures 3,257,000 3,895,000 4,661,000
Depreciation and Amortization 6,833,000 6,087,000 4,489,000
Environmental and Health | Operating segments      
Segment Reporting Information [Line Items]      
Revenues 88,970,000 89,878,000 85,497,000
Compensation and related expenses 47,600,000 48,619,000 47,288,000
Operating Income 29,995,000 28,432,000 27,340,000
Capital Expenditures 77,000 170,000 174,000
Depreciation and Amortization $ 206,000 $ 213,000 $ 171,000
v3.25.0.1
Operations in Different Geographic Areas (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Operations in Different Geographic Areas [Line Items]      
Property, equipment and leasehold improvements, net $ 73,007 $ 75,318  
Revenues [1] 558,514 536,766 $ 513,293
United States      
Operations in Different Geographic Areas [Line Items]      
Property, equipment and leasehold improvements, net 72,418 74,668  
Revenues [1] 493,067 470,078 450,445
Foreign Countries      
Operations in Different Geographic Areas [Line Items]      
Property, equipment and leasehold improvements, net 589 650  
Revenues [1] $ 65,447 $ 66,688 $ 62,848
[1] Geographic revenues are allocated based on the location of the client.
v3.25.0.1
Goodwill Reported By segment (Detail) - USD ($)
$ in Thousands
Jan. 03, 2025
Dec. 29, 2023
Goodwill Reported By Segment [Line Items]    
Goodwill $ 8,607 $ 8,607
Environmental and Health    
Goodwill Reported By Segment [Line Items]    
Goodwill 8,099 8,099
Engineering and Other Scientific    
Goodwill Reported By Segment [Line Items]    
Goodwill $ 508 $ 508
v3.25.0.1
Subsequent Events - Additional Information (Detail) - $ / shares
 12 Months Ended
Feb. 06, 2025
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Subsequent Event [Line Items]        
Cash dividends declared per common share (in dollars per share)   $ 1.12 $ 1.04 $ 0.96
O 2025 Q1 Dividends | Subsequent Event        
Subsequent Event [Line Items]        
Cash dividends declared per common share (in dollars per share) $ 0.3      
Dividends Payable, Date Declared Feb. 06, 2025      
Dividends Payable, Date of Record Mar. 07, 2025      
Dividends Payable, Date to be Paid Mar. 21, 2025      
v3.25.0.1
Valuation and Qualifying Accounts (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Allowance For Bad Debt [Member]      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Balance at Beginning of Year $ 1,162 $ 1,239 $ 973
Provision Charged to Expense 993 856 455
Provision Charged to Revenues 0 0 0
Accounts Written-off Net of Recoveries [1] (804) (933) (189)
Balance at End of Year 1,351 1,162 1,239
Allowance For Contract Losses [Member]      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Balance at Beginning of Year 4,119 4,954 3,450
Provision Charged to Expense 0 0 0
Provision Charged to Revenues 3,457 2,368 2,626
Accounts Written-off Net of Recoveries [1] (2,786) (3,203) (1,122)
Balance at End of Year $ 4,790 $ 4,119 $ 4,954
[1] Balance includes currency translation adjustments.
v3.25.0.1
Valuation And Qualifying Accounts - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 03, 2025
Dec. 29, 2023
Dec. 30, 2022
Trade Accounts Receivable [Member]      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Written-off Net of Recoveries $ 74,000 $ 181,000 $ 11,000