INCOME TAXES

3 Months Ended

Mar. 29, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 7. INCOME TAXES

Our effective tax rates for the three-month period ended March 29, 2024 were 11.4% as compared to 15.7% for the three-month period ended March 31, 2023. The decrease in the effective tax rate for the three-month period ended March 29, 2024 as compared to the three-month period ended March 31, 2023 was primarily related to cash repatriation, resulting in a discrete tax credit in the three-month period ended March 29, 2024

Our effective tax rates for the three-month period ended March 29, 2024, differ from the U.S. federal statutory rate of 21% due primarily to the impact of credits and deductions provided by law and changes in our uncertain tax position reserves.