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Income Taxes
3 Months Ended
Apr. 02, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesThe effective tax rate for the three months ended April 2, 2022 was 12.4%, compared to the effective tax rate for the three months ended March 27, 2021 of 20.6%. The effective tax rate for the first quarter of 2022 is lower than the effective tax rate for the comparable 2021 period, primarily due to a one-time deduction that resulted from the dissolution of one of the Company’s affiliates, which resulted in a net benefit of $7.2 million. The effective tax rate for the 2022 period is lower than the applicable U.S. statutory tax rate due to a one-time deduction that resulted from the dissolution of one of the Company’s affiliates, as well as the forecasted impact of income earned in lower tax jurisdictions. The effective tax rate for the comparable 2021 period is approximately the same as the applicable U.S. statutory tax rate.