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Income Taxes | 9 Months Ended
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Jun. 27, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES: During the three and nine months ended June 27, 2025, the company recorded a benefit to the “Provision for Income Taxes” on the Condensed Consolidated Statements of Income of $3.1 million for the reversal of a valuation allowance against deferred tax assets within a foreign subsidiary due to an acquisition of a business. During the nine months ended June 28, 2024, the Company recorded a valuation allowance adjustment to the "Provision for Income Taxes" on the Condensed Consolidated Statements of Income of $7.1 million against certain foreign tax credits, as it is more likely than not a tax benefit will not be realized due to the reduction of future forecasted foreign income as a result of the separation and distribution of the Uniform segment. In 2021, the Organization for Economic Co-operation & Development (“OECD”) released the Pillar Two Global Anti-Base Erosion Model Rules (“Pillar Two”). Under Pillar Two, multinational companies with consolidated revenue greater than €750 million will be subject to a minimum effective tax rate of 15.0% within each respective country. Guided by the OECD framework, more than 140 countries have agreed to enact Pillar Two legislation. The Company currently operates in several countries which will be subject to Pillar Two. The OECD has since issued administrative guidance providing transition and safe harbor rules around the implementation of Pillar Two rules which apply to the Company for fiscal years 2025 through 2027. The Company currently expects to meet the safe harbor requirements in each country subject to Pillar Two in which it operates but will continue to monitor and reflect the impact of legislative changes in future periods, as appropriate. The Pillar Two legislation has no material impact on the condensed consolidated financial statements, and the Company does not expect the impact will be material in future periods. On July 4, 2025, the One Big Beautiful Bill (“OBBB”) Act was signed into law. The OBBB Act contains a broad range of tax reform measures, including provisions that extend or modify certain elements of the Tax Cuts and Jobs Act. The new law has a range of effective dates, with certain changes taking effect in fiscal year 2025 and others that become effective in future periods. The Company is currently assessing the impact of the provisions on its consolidated financial statements.

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