XML 28 R14.htm IDEA: XBRL DOCUMENT v3.24.2
Income Taxes
6 Months Ended
Jun. 29, 2024
Income Taxes
(3) Income Taxes
The provisions for income taxes for the 2024 and 2023
twenty-six-week
periods were based on estimated annual effective income tax rates of 24.5% and 24.4%, respectively, adjusted for discrete events, such as benefits resulting from stock-based awards. The effective income tax rate for the 2024
twenty-six-week
period was 24.1%. The effective income tax rate was higher than the statutory federal income tax rate of 21% in the 2024 period primarily attributable to state taxes. The effective income tax rate for the 2023
twenty-six-week
period was 23.9%. The effective income tax rate was higher than the statutory federal income tax rate of 21% in the 2023 period primarily attributable to state taxes.