XML 25 R15.htm IDEA: XBRL DOCUMENT v3.22.2
Income Taxes
6 Months Ended
Jun. 25, 2022
Income Tax Disclosure [Abstract]  
Income Taxes

7. Income Taxes

 

The Company recorded income tax expense of $21,093 in the 13-week period ended June 25, 2022, compared to income tax expense of $55,062 in the 13-week period ended June 26, 2021. The effective tax rate was 7.6% in the second quarter of 2022, compared to 14.8% in the second quarter of 2021. The decrease was primarily due to income mix by jurisdiction and an increase in U.S. tax deductions and credits in the second quarter of 2022 compared to the second quarter of 2021.

 

The Company recorded income tax expense of $45,366 in the first half of 2022, compared to income tax expense of $85,548 in the first half of 2021. The effective tax rate was 8.8% in the first half of 2022, compared to 13.7% in the first half of 2021. The decrease was primarily due to income mix by jurisdiction and an increase in U.S. tax deductions and credits in the first half of 2022 compared to the first half of 2021.