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INCOME TAXES | 3 Months Ended
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Mar. 28, 2020
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES The Company’s effective tax rates for the three months ended March 28, 2020 and March 30, 2019 were 8.3% and 16.0%, respectively. For the three months ended March 28, 2020, the decrease was primarily attributable to an increased tax benefit from stock-based compensation deductions compared to the corresponding period in 2019. For the three months ended March 28, 2020, the Company’s unrecognized tax benefits decreased b y $0.6 million to $19.1 million, primarily due to tax authority settlements and favorable foreign exchange, offset by an additional quar ter of Canadian Scientific Research and Experimental Development Credit reserves. The amount of unrecognized income tax benefits that would impact the effective tax rate decreased by $0.7 million to $16.3 million, for the same reasons listed above. The accrued interest on unrecognized tax benefits was $2.3 million at March 28, 2020. The Company estimates that it is reasonably possible that the unrecognized tax benefits will decrease by up to $3.0 million over the next twelve-month period, primarily due to the outcome of pending tax audits. The Company conducts business in a number of tax jurisdictions. As a result, it is subject to tax audits on a regular basis including, but not limited to, such major jurisdictions as the U.S., the U.K., China, France, Germany, and Canada. With few exceptions, the Company is no longer subject to U.S. and international income tax examinations for years before 2016. The Company and certain of its subsidiaries have ongoing tax controversies in the U.S., France and Canada. The Company does not anticipate resolution of these audits will have a material impact on its consolidated financial statements.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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