Income Taxes

6 Months Ended

Jun. 27, 2026

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The effective tax rate was 32.3% for the three months ended June 27, 2026, and 23.8% for the six months ended June 27, 2026. The effective tax rate was higher than the U.S. federal statutory rate of 21% and increased during 2026 compared to 2025 primarily due to $77 million and $93 million of incremental tax expense related to nondeductible transaction costs and frictional tax costs recognized during the three and six months ended June 27, 2026, respectively, in advance of the Spin-off. Refer to Note 17. Subsequent Events for additional information on the Spin-off and related Tax Matters Agreement.