XML 31 R19.htm IDEA: XBRL DOCUMENT v3.24.3
Income Taxes
 9 Months Ended
Sep. 28, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s effective tax rate includes state income taxes, foreign tax rate differentials and changes in the valuation allowance. The following table sets forth the effective tax rate for the three and nine months ended September 28, 2024 and September 30, 2023:
Three Months EndedNine Months Ended
September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Effective tax rate7.7 %24.5 %8.5 %27.6 %
The Company’s effective tax rate varied from the statutory tax rate primarily due to state income taxes, foreign tax rate differentials and changes in the valuation allowance. The change in the effective tax rate for the three and nine month periods ended September 28, 2024 compared to the three and nine month periods ended September 30, 2023 is primarily due to pre-tax book losses resulting from impairment charges to deductible and non-deductible goodwill and intangible assets in addition to increased book amortization and depreciation related to the Merger transaction.