Income Taxes

3 Months Ended

Apr. 01, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company’s effective income tax rate was 26.2% for the first quarter of 2022 and 27.3% for the first quarter of 2021. The Company’s income tax expense was $33.2 million for the first quarter of 2022 and $20.0 million for the first quarter of 2021. The increase in income tax expense was primarily attributable to higher income before taxes during the first quarter of 2022 compared to the first quarter of 2021.

The Company had uncertain tax positions, including accrued interest, of $1.7 million on both April 1, 2022 and December 31, 2021, all of which would affect the Company’s effective income tax rate if recognized. While it is expected the amount of uncertain tax positions may change in the next 12 months, the Company does not expect such change would have a material impact on the condensed consolidated financial statements.

Prior tax years beginning in year 2018 remain open to examination by the Internal Revenue Service, and various tax years beginning in year 1999 remain open to examination by certain state tax jurisdictions due to loss carryforwards.