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Prepaid Expenses and Other Current Assets, and Other Assets
12 Months Ended
Jan. 03, 2015
Prepaid Expenses and Other Current Assets, and Other Assets  
Prepaid Expenses and Other Current Assets, and Other Assets

3.     Prepaid Expenses and Other Current Assets, and Other Assets

        Prepaid expenses and other current assets consist of the following (in thousands):

                                                                                                                                                                                    

 

 

January 3,
2015

 

December 28,
2013

 

Term loans to employees

 

$

1,564 

 

$

1,764 

 

Other

 

 

11,601 

 

 

10,011 

 

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​  

​  

​  

Total

 

$

13,165 

 

$

11,775 

 

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        Other assets consist of the following (in thousands):

                                                                                                                                                                                    

 

 

January 3,
2015

 

December 28,
2013

 

Forgivable loans to employees and non-employee experts

 

$

42,907 

 

$

51,083 

 

Other

 

 

5,008 

 

 

3,538 

 

​  

​  

​  

​  

Total

 

$

47,915 

 

$

54,621 

 

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        In order to attract and retain highly skilled professionals, CRA may issue forgivable loans or term loans to employees and non-employee experts which are classified in "prepaid expenses and other current assets" and "other assets" on the accompanying balance sheets as of January 3, 2015 and December 28, 2013. A portion of these loans is collateralized. The forgivable loans have terms that are generally between three and eight years. The principal amount of forgivable loans and accrued interest is forgiven by CRA over the term of the loans, so long as the employee or non-employee expert continues employment or affiliation with CRA and complies with certain contractual requirements. The expense associated with the forgiveness of the principal amount of the loans is recorded as compensation expense over the service period, which is consistent with the term of the loans. During fiscal 2014 and fiscal 2013, CRA issued approximately $10.9 million and $38.8 million, respectively, in forgivable loans to employees and non-employee experts for future service.