Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Revenue by Vertical Market as Percentage of Total Revenue

CTG’s revenue by vertical market as a percentage of consolidated revenue for the three years ended December 31, 2021, 2020, and 2019 is as follows:

	2021			2020			2019
Technology service providers		26.7	%		31.3	%		32.2	%
Healthcare		21.6	%		14.9	%		16.6	%
Financial services		16.2	%		15.8	%		13.8	%
Manufacturing		11.7	%		13.5	%		16.8	%
Energy		5.1	%		6.2	%		5.2	%
General markets		18.7	%		18.3	%		15.4	%
Total		100.0	%		100.0	%		100.0	%

Revenue by Contract Type

The Company’s revenue from contracts accounted for under time-and-material, progress billing, and percentage-of-completion methods as a percentage of consolidated revenue for the three years ended December 31, 2021, 2020, and 2019 is as follows:

	2021			2020			2019
Time-and-material		79.8	%		81.0	%		79.6	%
Progress billing		17.8	%		15.9	%		10.2	%
Percentage-of-completion		2.4	%		3.1	%		10.2	%
Total		100.0	%		100.0	%		100.0	%

Schedule of Revenue by Geographic Location

The Company recorded revenue by geography for 2021 compared to 2020 and 2020 compared to 2019 as follows:

Year Ended December 31,	% of total			2021		% of total			2020		Year-Over- Year Change
(dollars in thousands)
North America		55.7	%	$	218,344		55.8	%	$	204,264		6.9	%
Europe		44.3	%		173,941		44.2	%		161,827		7.5	%
Total		100.0	%	$	392,285		100.0	%	$	366,091		7.2	%

Year Ended December 31,	% of total			2020		% of total			2019		Year-Over- Year Change
(dollars in thousands)
North America		55.8	%	$	204,264		61.5	%	$	242,218		(15.7	)%
Europe		44.2	%		161,827		38.5	%		151,952		6.5	%
Total		100.0	%	$	366,091		100.0	%	$	394,170		(7.1	)%

Summary of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2020 are as follows:

(amounts in thousands)
Balance at December 31, 2019	$	16,681
Acquired goodwill		2,757
Foreign currency translation		1,837
Balance at December 31, 2020	$	21,275
Acquired goodwill		—
Foreign currency translation		(1,599	)
Balance at December 31, 2021	$	19,676

Summary of Acquired Intangible Assets

Acquired intangible assets at December 31, 2021 consist of the following:

(amounts in thousands)	Estimated Economic Life	Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation			Net Carrying Amount
Trademarks	2 years	$	1,532	$	(1,454	)	$	(70	)	$	8
Technology	10 years		591		(110	)		10			491
Customer relationships	7-13 years		10,496		(3,121	)		(594	)		6,781
Total		$	12,619	$	(4,685	)	$	(654	)	$	7,280

Acquired intangible assets at December 31, 2020 consisted of the following:

(amounts in thousands)	Estimated Economic Life	Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation		Net Carrying Amount
Trademarks	2 years	$	1,532	$	(1,456	)	$	50	$	126
Technology	10 years		591		(54	)		59		596
Customer relationships	7-13 years		10,496		(2,331	)		210		8,375
Total		$	12,619	$	(3,841	)	$	319	$	9,097

Summary of Estimated Amortization Expense

Estimated amortization expense for the next five fiscal years, and thereafter, is as follows (amounts in thousands):

Year	Annual Amortization
2022	$	1,033
2023		1,025
2024		1,025
2025		1,025
2026		1,025
Thereafter		2,147
Total	$	7,280

Basic and Diluted Earnings Per Share (EPS)

Basic and diluted earnings per share (EPS) for the years ended December 31, 2021, 2020, and 2019 are as follows:

For the year ended	Net Income		Weighted Average Shares		Earnings per Share
(amounts in thousands, except per-share data)
December 31, 2021
Basic EPS	$	13,730		13,926	$	0.99
Dilutive effect of outstanding equity instruments		—		1,045		(0.07	)
Diluted EPS	$	13,730		14,971	$	0.92
December 31, 2020
Basic EPS	$	7,639		13,621	$	0.56
Dilutive effect of outstanding equity instruments		—		806		(0.03	)
Diluted EPS	$	7,639		14,427	$	0.53
December 31, 2019
Basic EPS	$	4,125		13,450	$	0.31
Dilutive effect of outstanding equity instruments		—		547		(0.02	)
Diluted EPS	$	4,125		13,997	$	0.29

Schedule of Accumulated Other Comprehensive Loss

The components that comprised accumulated other comprehensive loss on the consolidated balance sheets at December 31, 2021 and 2020 are as follows:

(amounts in thousands)	2021			2020
Foreign currency translation adjustment	$	(7,697	)	$	(3,645	)
Pension loss, net of tax of $819 in 2021 and $455 in 2020		(9,243	)		(11,722	)
Accumulated other comprehensive loss	$	(16,940	)	$	(15,367	)

Schedule of Net Benefit Costs

During 2021, 2020, and 2019, actuarial losses were amortized to expense as follows:

(amounts in thousands)	2021			2020			2019
Amortization of actuarial losses	$	489		$	298		$	185
Income tax		(39	)		(1	)		—
Net of tax	$	450		$	297		$	185