Income Taxes

6 Months Ended

Jun. 29, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company’s effective tax rate for the three months ended June 29, 2025 and June 30, 2024 was 27.4% and 27.0%, respectively. The Company’s effective tax rate varied from the U.S. federal statutory rate of 21% for the three months ended June 29, 2025 primarily due to state income taxes and the tax effects of our foreign operations and share-based compensation.

The Company’s effective tax rate for the six months ended June 29, 2025 and June 30, 2024 was 27.9% and 26.9%, respectively. The Company’s effective tax rate varied from the U.S. federal statutory rate of 21% for the six months ended June 29, 2025 primarily due to state income taxes and the tax effects of our foreign operations.

Subsequent to the end of the second quarter of 2025, on July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted. Key provisions include the permanent extension of several business tax incentives originally established under the 2017 Tax Cuts and Jobs Act, as well as changes to provisions related to bonus depreciation, and research and development. The Company is currently evaluating the impact of the OBBBA on our condensed consolidated financial statements.