XML 24 R14.htm IDEA: XBRL DOCUMENT v3.20.4
Income Taxes
6 Months Ended
Jan. 01, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company recorded an income tax provision of $4,433 and $5,110 on income before income taxes of $17,119 and $20,786 for the second quarters ended January 1, 2021 and December 27, 2019, respectively. The Company recorded an income tax provision of $6,631 and $3,092 on income before income taxes of $35,115 and $38,015 for the six months ended January 1, 2021 and December 27, 2019, respectively.
During the second quarters ended January 1, 2021 and December 27, 2019, the Company recognized a discrete tax benefit of $130 and $353, respectively, related to excess tax benefits on stock-based compensation. During the six months ended January 1, 2021 and December 27, 2019, the Company recognized a discrete tax benefit of $2,610 and $6,480, respectively, related to excess tax benefits on stock-based compensation.
The effective tax rate for the second quarters and six months ended January 1, 2021 and December 27, 2019 differed from the Federal statutory rate primarily due to Federal and State research and development credits, excess tax benefits related to stock-based compensation, non-deductible compensation and state taxes.
During the second quarter ended January 1, 2021, there were no material changes to the Company's unrecognized tax positions.