Income Taxes

9 Months Ended

Sep. 28, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company’s effective tax rate for the three months ended September 28, 2025 and September 29, 2024 was 30.0% and 27.9%, respectively. The Company’s effective tax rate varied from the U.S. federal statutory rate of 21% for the three months ended September 28, 2025 primarily due to state income taxes, the tax effects of our foreign operations and share-based compensation.

The Company’s effective tax rate for the nine months ended September 28, 2025 and September 29, 2024 was 28.6% and 27.3%, respectively. The Company’s effective tax rate varied from the U.S. federal statutory rate of 21% for the nine months ended September 28, 2025 primarily due to state income taxes and the tax effects of our foreign operations.

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. We currently expect that these changes will have an impact on the Company’s current and deferred tax assets and liabilities as well as a favorable impact on the amount of cash taxes paid.