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Income Taxes (Tables)

3 Months Ended

Mar. 28, 2021

Income Tax Disclosure [Abstract]

Reconciliation of income tax benefit at statutory rate to income tax provision

A reconciliation of the total income tax benefit to the amount computed by applying the statutory federal income tax rate of 21% to income from continuing operations before income taxes for the three months ended March 28, 2021 and March 29, 2020 is as follows (in millions):

			For the Three Months Ended
			March 28, 2021						March 29, 2020
Income tax at federal statutory rate			$	(0.2)					$	(0.3)
State and foreign taxes, net of federal tax benefit and valuation allowance			—						(0.3)
Release of valuation allowance due to acquisitions			—						(0.9)
Nondeductible expenses and other			(0.2)						(0.1)
Decrease in reserves for uncertain tax positions			—						(0.2)
Stock compensation - excess tax benefits			(2.4)						—
Federal impact of research & development tax credits			0.1						—
Increase in federal valuation allowance			—						0.4
Benefit for income taxes from continuing operations			$	(2.7)					$	(1.4)

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- References

No definition available.

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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