Income Taxes

3 Months Ended

Mar. 29, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The effective tax rate for the three months ended March 29, 2025 was 27.3%, compared to the effective tax rate for the three months ended March 30, 2024 of 13.0%. The effective tax rate for 2025 is higher than the effective tax rate for the comparable 2024 period primarily due to the lapse in the statute of limitations for previously unrecognized tax benefits in the first fiscal quarter of 2024 which favorably impacted the 2024 effective tax rate by 10.6%.

The effective tax rate for 2025 is higher than the statutory tax rate primarily due to losses in non-US jurisdictions with no related tax benefit, and the effective tax rate for 2024 is lower than the statutory tax rate primarily due to the lapse in statute of limitations for previously unrecognized tax benefits.

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