Income taxes |
9 Months Ended |
|---|---|
Mar. 28, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income taxes | Income taxes As of March 28, 2025 and June 28, 2024, the liability for uncertain tax positions including accrued interest and penalties was $2.3 million and $1.3 million, respectively. The Company files income tax returns in the United States and foreign tax jurisdictions. The tax years from 2017 to 2023 remain open to examination by U.S. federal and state, and foreign tax authorities. The Company is currently under examination by the U.S. Internal Revenue Service for fiscal year 2022 and fiscal year 2023. 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 28, 2025 and March 29, 2024 was 5.8% and 2.9%, respectively, of net income. The increase was due to higher income subject to tax and a discrete expense related to continuing assessment of potential tax exposures. The effective tax rate for the Company for the nine months ended March 28, 2025 and March 29, 2024 was 6.3% and 5.0%, respectively, of net income. The increase was due to higher income subject to tax and a discrete expense due to continuing assessment of potential tax exposures during the nine months ended March 28, 2025, offset by a full valuation allowance for deferred tax assets that was set up during the nine months ended March 29, 2024 for the Company's subsidiary in Israel. |