INCOME TAXES |
6 Months Ended |
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Jul. 04, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES The effective income tax rate for the six months ended June 2026 and June 2025 was 24.9%. The six months ended June 2026 included a net discrete tax benefit primarily related to stock-based compensation, partially offset by an increase in tax expense related to the finalization of U.S. federal tax return filings, the net impact of which decreased the effective income tax rate by 0.3%. The six months ended June 2025 included a net discrete tax expense 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 tax rate by 1.3%. The effective tax rate without discrete items for the six months ended June 2026 was 25.2% compared to 23.6% in the 2025 period. The increase was primarily due to changes in our jurisdictional mix of earnings.
During the six months ended June 2026, the amount of net unrecognized tax benefits and associated interest increased by $0.5 million to $13.0 million. Management believes that the amount of unrecognized tax benefits may decrease by $5.0 million within the next 12 months due to the expiration of statutes of limitations, which would reduce income tax expense.
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- References No definition available.
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- Definition The entire disclosure for income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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