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Income Taxes | 9 Months Ended
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Dec. 27, 2024
Income Tax Disclosure [Abstract] |
Income Taxes | 13. Income Taxes The Company recorded the following income tax (benefit) provision in its condensed consolidated statements of operations:
|  | Three-Month Period Ended |  |  | Nine-Month Period Ended |
|  | December 27, 2024 |  |  | December 29, 2023 |  |  | December 27, 2024 |  |  | December 29, 2023 |
Income tax (benefit) provision |  | $ | (803 | ) |  | $ | 2,969 |  |  | $ | (9,233 | ) |  | $ | 17,584 |
Effective tax rate |  |  | 10.6 | % |  |  | 8.2 | % |  |  | 13.7 | % |  |  | 9.9 | %
The Company’s income tax (benefit) provision is comprised of the year-to-date taxes based on an estimate of the annual effective tax rate plus the tax impact of discrete items. The Company is subject to tax in the U.S. and various foreign jurisdictions. The Company’s effective income tax rate fluctuates primarily because of the change in the mix of its U.S. and foreign income, the impact of discrete transactions and law changes, tax benefits generated by the foreign derived intangible income deduction including the permanent impacts of Internal Revenue Code Section 174 Capitalization, and research credits; offset by non-deductible stock-based compensation and other charges. The increase in the effective tax rate for the three- and nine-month periods results mainly from a decrease in forecasted GAAP income before taxes, less tax deductions for share-based compensation, and an increase in nondeductible expenses primarily related to the Sanken Electric Co., Ltd. (“Sanken”) and Polar Semiconductor, LLC (“PSL”) transactions discussed in Note 14.

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