Income Taxes	3 Months Ended
Apr. 04, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12. INCOME TAXES Our income tax benefit was $0.5 million for the three months ended July 4, 2020, compared with income tax expense of $5.1 million for the three months ended June 29, 2019. Our effective tax rate for the three months ended July 4, 2020, was a benefit rate of 27.0%, and was an expense rate of 23.1% for the three months ended June 29, 2019. Our income tax expense was $3.7 million for the first half of 2020, compared with $7.4 million for the first half of 2019. Our effective tax rate for the six months ended July 4, 2020, was 17.1%, and was 22.6% for the six months ended June 29, 2019. The income tax benefit in the three months, and income tax expense in the six months ended July 4, 2020, includes several discrete items of income tax benefits recognized during the second quarter, including federal and state research and development tax credit true-ups to actual from the assumptions we made when preparing our 2019 tax provision, which totaled $319 thousand, and a refund from the state of Florida relating to excess taxes received by the state caused by the Tax Cuts and Jobs Act of 2017, which totaled $553 thousands, net of its Federal tax effect. Excess tax benefits relating to equity awards, treated as a discrete item of income tax, were immaterial in the three months ended July 4, 2020, and were $573 thousand in the three months ended June 29, 2019. Excess tax benefits relating to equity awards, treated as a discrete item of income tax, were $737 thousand in the six months ended July 4, 2020, and were $1.0 million in the six months ended June 29, 2019. Excluding discrete items of income tax, the effective tax rates for the three months ended July 4, 2020, and June 29, 2019, would have been income tax expense rates of 21.7% and 25.7%, respectively. Excluding discrete items of income tax, the effective tax rates for the six months ended July 4, 2020, and June 29, 2019, would have been income tax expense rates of 24.6% and 25.7%, respectively. Our estimated annual effective tax rate, excluding the discrete items discussed above, approximates our current combined statutory federal and state rate of 25.0%. In response to the COVID-19 outbreak, in March 2020, the U.S. Congress passed the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) legislation aimed at providing relief for individuals and businesses that have been negatively impacted by the pandemic. At this time, the CARES Act has not had, and we do not expect it to have a material impact to our consolidated financial statements. However, during the three months ended July 4, 2020, we made no payments of estimated federal and state income taxes as the deadlines for such payments to the United States government, and the majority of states in which we have nexus, which have followed the payment deadline extension of this new Federal legislation, have been deferred until July 15, 2020 as a result of the CARES Act.

Income Taxes

3 Months Ended

Apr. 04, 2020

NOTE 12. INCOME TAXES

Our income tax benefit was $0.5 million for the three months ended July 4, 2020, compared with income tax expense of $5.1 million for the three months ended June 29, 2019. Our effective tax rate for the three months ended July 4, 2020, was a benefit rate of 27.0%, and was an expense rate of 23.1% for the three months ended June 29, 2019. Our income tax expense was $3.7 million for the first half of 2020, compared with $7.4 million for the first half of 2019. Our effective tax rate for the six months ended July 4, 2020, was 17.1%, and was 22.6% for the six months ended June 29, 2019.

The income tax benefit in the three months, and income tax expense in the six months ended July 4, 2020, includes several discrete items of income tax benefits recognized during the second quarter, including federal and state research and development tax credit true-ups to actual from the assumptions we made when preparing our 2019 tax provision, which totaled $319 thousand, and a refund from the state of Florida relating to excess taxes received by the state caused by the Tax Cuts and Jobs Act of 2017, which totaled $553 thousands, net of its Federal tax effect. Excess tax benefits relating to equity awards, treated as a discrete item of income tax, were immaterial in the three months ended July 4, 2020, and were $573 thousand in the three months ended June 29, 2019. Excess tax benefits relating to equity awards, treated as a discrete item of income tax, were $737 thousand in the six months ended July 4, 2020, and were $1.0 million in the six months ended June 29, 2019. Excluding discrete items of income tax, the effective tax rates for the three months ended July 4, 2020, and June 29, 2019, would have been income tax expense rates of 21.7% and 25.7%, respectively. Excluding discrete items of income tax, the effective tax rates for the six months ended July 4, 2020, and June 29, 2019, would have been income tax expense rates of 24.6% and 25.7%, respectively.

Our estimated annual effective tax rate, excluding the discrete items discussed above, approximates our current combined statutory federal and state rate of 25.0%.

In response to the COVID-19 outbreak, in March 2020, the U.S. Congress passed the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) legislation aimed at providing relief for individuals and businesses that have been negatively impacted by the pandemic. At this time, the CARES Act has not had, and we do not expect it to have a material impact to our consolidated financial statements. However, during the three months ended July 4, 2020, we made no payments of estimated federal and state income taxes as the deadlines for such payments to the United States government, and the majority of states in which we have nexus, which have followed the payment deadline extension of this new Federal legislation, have been deferred until July 15, 2020 as a result of the CARES Act.