Income Taxes (Notes)

9 Months Ended

Sep. 26, 2020

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Income Taxes

The Company’s effective income tax rate for the three months ended September 26, 2020 and September 28, 2019, was 24.3% and 18.2%, respectively. The increase in the effective income tax rate was primarily due to the jurisdictional profit mix and the impact of valuation allowances.

The Company’s effective income tax rate for the nine months ended September 26, 2020 and September 28, 2019, was 22.6% and 11.6%, respectively. The increase in the effective income tax rate was primarily due to the recognition of tax expense associated with stock-based compensation compared to a tax benefit for the prior period.

The Company's effective income tax rate of 24.3% and 22.6% for the three and nine months ended September 26, 2020 differed from the federal statutory tax rate of 21% primarily due to the jurisdictional mix of earnings and the recognition of valuation allowances during the period.

    On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was enacted in response to the COVID-19 pandemic. The Company continues to evaluate the impact of the CARES Act, but at present does not expect the CARES Act to result in any material income tax benefit.