XML 27 R17.htm IDEA: XBRL DOCUMENT v3.21.2
Income Taxes
3 Months Ended
Jul. 03, 2021
Income Tax Disclosure [Abstract]  
Income Taxes

10. Income Taxes

For the three months ended July 3, 2021 and June 27, 2020, the Company recorded $14.0 million and $4.6 million of income tax expense and had an effective tax rate of 24.6% and 27.7%, respectively.

The Company’s effective tax rate for the three months ended July 3, 2021 differs from the federal statutory income tax rate of 21.0% due primarily to the effect of state and local income taxes, non-deductible expenses, tax credits, results in foreign jurisdictions and tax benefits from vested equity compensation. The Company’s effective tax rate for the three months ended June 27, 2020 differs from the federal statutory income tax rate of 21.0% due primarily to the effect of state and local income taxes, non-deductible expenses and results in foreign jurisdictions.

At July 3, 2021, the Company had no unrecognized tax benefits. The Company does not anticipate any material changes to uncertain tax benefits in the next twelve months. The Company records interest and penalties related to unrecognized tax benefits as a component of income tax expense.