Income Taxes

9 Months Ended

Jul. 01, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The provision for income taxes consists of the following components (in millions):

	Three Months Ended						Nine Months Ended
	July 1, 2022			July 2, 2021			July 1, 2022			July 2, 2021
United States income taxes	35.8			(13.8)			88.5			63.7
Foreign income taxes	11.0			12.2			42.9			46.8
Provision (benefit) for income taxes	$	46.8		$	(1.6)		$	131.4		$	110.5
Effective tax rate	14.9		%	(0.5)		%	11.9		%	8.6		%

The difference between the Company’s effective tax rate and the 21.0% United States federal statutory rate for the three and nine months ended July 1, 2022, and July 2, 2021, respectively, resulted primarily from foreign earnings taxed at rates lower than the federal statutory rate, a benefit from foreign-derived intangible income deduction (“FDII”), windfall tax deductions, and research and experimentation and foreign tax credits earned, partially offset by a tax on global intangible low-taxed income (“GILTI”), and tax expense related to a change in the reserve for uncertain tax positions.