Quarterly report [Sections 13 or 15(d)]

INCOME TAXES

v3.25.2
INCOME TAXES
 6 Months Ended
Jun. 28, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The effective income tax rate for the six months ended June 2025 was 24.2% compared to 20.0% in the 2024 period. The six months ended June 2025 included a net discrete tax expense primarily related to an increase in valuation allowances in a foreign jurisdiction, partially offset by a discrete tax benefit related to stock-based compensation, the net impact of which increased the effective income tax rate by 0.7%. The six months ended June 2024 included a net discrete tax benefit primarily related to stock-based compensation which decreased the effective income tax rate by 1.2%. The effective tax rate without discrete items for the six months ended June 2025 was 23.5% compared to 21.2% in the 2024 period. The increase was primarily due to changes in our jurisdictional mix of earnings and estimated non-deductible transaction costs incurred in conjunction with the Acquisition.
During the six months ended June 2025, the amount of net unrecognized tax benefits and associated interest increased by $0.6 million to $13.1 million. Management does not believe that the amount of unrecognized tax benefits will materially decrease within the next 12 fiscal months.