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INCOME TAXES
3 Months Ended
Apr. 01, 2022
Income Tax Disclosure [Abstract]  
INCOME TAXES NOTE L — INCOME TAXES Our effective tax rate (income taxes as a percentage of income from continuing operations before income taxes) was 11.3% for the quarter ended April 1, 2022 compared with 11.4% for the quarter ended April 2, 2021. For the quarter ended April 1, 2022, our effective tax rate benefited from the favorable impact of Research and Development (“R&D”) credits, the reduction in deferred tax liabilities on the outside basis of certain foreign subsidiaries due to an internal restructuring, incremental foreign-derived intangible income (“FDII”) benefit resulting from the requirement to capitalize and amortize R&D expenses beginning in fiscal 2022, the resolution of specific audit uncertainties, and excess tax benefits related to equity-based compensation. For the quarter ended April 2, 2021, our effective tax rate benefited from the favorable impact of R&D credits, the resolution of specific audit uncertainties and the recognition of deferred tax assets on the outside basis of entities held-for-sale.