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Income Taxes | 6 Months Ended
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Jun. 29, 2024
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes For interim periods, income tax is equal to the total of (1) year-to-date pretax income multiplied by the forecasted effective tax rate plus (2) tax expense items specific to the period. In situations where we expect to report losses and where we do not expect to receive tax benefits, we apply separate forecast effective tax rates to those jurisdictions rather than including them in the consolidated forecast effective tax rate. For the three and six months ended June 29, 2024, the net tax expense was $29 million and $59 million, respectively, and for the three and six months ended July 1, 2023, net tax expense was $44 million and $68 million, respectively, and consists primarily of interim period tax expense based on year-to-date pretax income multiplied by our forecasted effective tax rate. In addition to items specific to the period, our income tax rate is impacted by the mix of earnings across the jurisdictions in which we operate, non-deductible expenses, and U.S. taxation of foreign earnings.

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