Income taxes |
9 Months Ended |
|---|---|
Mar. 31, 2023 | |
| Income Tax Disclosure [Abstract] | |
| Income taxes | Income taxes As of March 31, 2023 and June 24, 2022, the liability for uncertain tax positions including accrued interest and penalties was $0.9 million and $1.6 million, respectively. The Company expects the estimated amount of liability associated with its uncertain tax positions to decrease within the next 12 months due to the expiration of statutes of limitations with respect to these positions. The Company files income tax returns in the United States and foreign tax jurisdictions. The tax years from 2015 to 2021 remain open to examination by U.S. federal and state, and foreign tax authorities. The Company’s income tax is recognized based on the best estimate of the expected annual effective tax rate for the full financial year of each entity in the Company, adjusted for discrete items arising in that quarter. If the Company’s estimated annual effective tax rate changes, the Company makes a cumulative adjustment in that quarter. The effective tax rate for the Company for the three months ended March 31, 2023 and March 25, 2022 was 6.5% and 5.4%, respectively, of net income. The increase was primarily due to an increase in income subject to tax during the three months ended March 31, 2023 as compared to the three months ended March 25, 2022. The effective tax rate for the Company for the nine months ended March 31, 2023 and March 25, 2022 was 3.1% and 3.2%, respectively, of net income. The decrease was primarily due to lower annualized effective tax rate offset by an increase in income subject to tax during the nine months ended March 31, 2023 as compared to the nine months ended March 25, 2022.
|