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Principles of Consolidation
9 Months Ended
Sep. 29, 2018
Principles of Consolidation  
Principles of Consolidation

3. Principles of Consolidation

The condensed consolidated financial statements include the accounts of CRA and its wholly owned subsidiaries. In addition, as more fully explained below, the condensed consolidated financial statements include CRA’s interest in GNU123 Liquidating Corporation (“GNU”, formerly known as NeuCo, Inc.). All significant intercompany transactions and accounts have been eliminated in consolidation.

CRA’s ownership interest in GNU was 55.89% for all periods presented. GNU’s financial results have been consolidated with CRA, and the portion of GNU’s results allocable to its other owners is shown as “noncontrolling interest.”

On April 13, 2016, a buyer acquired substantially all the business assets and assumed substantially all the liabilities of GNU for a purchase price of $1.35 million. Of this amount, $1.1 million was received at closing, and the remaining $0.25 million was paid in full on May 3, 2017. GNU recognized a gain on sale of its business assets of $0.25 million during the second quarter of fiscal 2017, of which $0.14 million is attributed to CRA. GNU was dissolved on December 15, 2017. In December 2017, CRA received a partial distribution of $0.6 million in accordance with the asset purchase agreement. CRA received another distribution of $0.06 million in accordance with the agreement on July 20, 2018.