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Goodwill and Intangible Assets
3 Months Ended
Apr. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the carrying amount of goodwill for the fiscal quarter ended April 1, 2023 are summarized as follows (in thousands):
Goodwill$164,815 
Accumulated goodwill impairment(71,893)
Goodwill, net at December 31, 202292,922 
Additions due to acquisitions358 
Foreign currency translation adjustment298 
Goodwill, net at April 1, 2023$93,578 
Goodwill at April 1, 2023, is comprised of goodwill of $165.5 million and accumulated impairment of $71.9 million. There were no impairment losses related to goodwill during the fiscal quarter ended April 1, 2023 or during the fiscal year ended December 31, 2022.
Intangible assets that are separable from goodwill and have determinable useful lives are valued separately and amortized using the straight-line method over their expected useful lives. The components of acquired identifiable intangible assets are as follows (in thousands):
April 1, 2023December 31, 2022
Useful Life
(in years)
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Customer relationships
10
13,800 (5,569)8,231 13,800 (5,212)8,588 
There were no impairment losses related to intangible assets during the fiscal quarter ended April 1, 2023 or during the fiscal year ended December 31, 2022. As a result of the Welch Consulting acquisition, CRA recognized approximately $4.2 million of intangible assets related to customer relationships in the first quarter of fiscal 2022. As a result of the bSG acquisition, CRA recognized approximately $1.4 million of intangible assets related to customer relationships in the fourth
quarter of fiscal 2022. Amortization expense related to intangible assets was $0.4 million and $0.2 million for the fiscal quarters ended April 1, 2023 and April 2, 2022, respectively.