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INCOME TAXES
 6 Months Ended
Jun. 27, 2020
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXESThe Company’s effective tax rates for the three months ended June 27, 2020 and June 29, 2019 were 19.4% and 24.9%, respectively. The Company’s effective tax rates for the six months ended June 27, 2020 and June 29, 2019 were 15.0% and 20.2%, respectively. For the three and six months ended June 27, 2020, the decrease was primarily attributable to an increased
tax benefit from stock-based compensation deductions in 2020 as well as a reduction in non-deductible transaction costs compared to the corresponding period in 2019.
For the three months ended June 27, 2020, the Company’s unrecognized tax benefits decreased by $1.2 million to $17.9 million, primarily due to audit settlements of prior period positions. The amount of unrecognized income tax benefits that would impact the effective tax rate decreased by $1.2 million to $15.1 million, for the same reasons listed above. The accrued interest on unrecognized tax benefits was $2.0 million at June 27, 2020. The Company estimates that it is reasonably possible that the unrecognized tax benefits will decrease by up to $1.4 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., Canada, the Netherlands, Germany and France. The Company does not anticipate resolution of these audits will have a material impact on its consolidated financial statements.