Income Taxes

9 Months Ended

Dec. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

11. Income Taxes

For the three months ended December 30, 2023 and December 31, 2022, the Company recorded $12.8 million and $24.9 million of income tax expense and had an effective tax rate of 21.4% and 23.1%, respectively. For the nine months ended December 30, 2023 and December 31, 2022, the Company recorded $44.8 million and $113.4 million of income tax expense and had an effective tax rate of 23.7% and 24.8%, respectively.

The Company’s effective tax rate for the three and nine months ended December 30, 2023 differs from the federal statutory income tax rate of 21.0% due primarily to the effect of state and local income taxes, non-deductible expenses, tax credits, and results in foreign jurisdictions. The Company’s effective tax rate for the three and nine months ended December 31, 2022 differs from the federal statutory income tax rate of 21.0% due primarily to the effect of state and local income taxes, non-deductible expenses, tax credits, and results in foreign jurisdictions.

At December 30, 2023, the Company had no unrecognized tax benefits.