Income Taxes

6 Months Ended

Jun. 29, 2024

Income Tax Disclosure [Abstract]

Income Taxes [Text Block]

10. Income Taxes

Income taxes were recognized at an effective rate of 0.4% and 82.3% for the quarter and two quarters ended June 29, 2024, respectively, compared with (117.0)% and (37.9)% recognized for the quarter and two quarters ended July 1, 2023, respectively. The changes in the effective tax rate were primarily driven by the recognition of a full valuation allowance against U.S. deferred tax assets in excess of deferred tax liabilities beginning in the second quarter of 2023, based on the Company's assessment that the related tax benefits were no longer more likely than not to be realized in the future.