XML 27 R16.htm IDEA: XBRL DOCUMENT v3.21.2
Provision For (Benefit From) Income Taxes
9 Months Ended
Oct. 01, 2021
Income Tax Disclosure [Abstract]  
PROVISION FOR (BENEFIT FROM) INCOME TAXES PROVISION FOR (BENEFIT FROM) INCOME TAXESThe effective tax rate for the three and nine months ended September 30, 2021 was 28.3% and 22.8%, respectively, as compared to 15.7% and 18.8% for the corresponding periods in 2020. The effective tax rate for the three and nine months ended September 30, 2021 differed from the U.S. federal statutory tax rate of 21% primarily due to non-deductible executive compensation, partially offset by excess tax benefits related to the exercise of certain stock options during the periods and the generation of federal tax credits. The effective tax rate for the three and nine months ended September 30, 2020 differed from the U.S. federal statutory tax rate of 21% primarily due to excess tax benefits related to the exercise of certain stock options, the generation of federal tax credits, partially offset by non-deductible executive compensation during the periods.