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Income Taxes | 3 Months Ended
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Dec. 28, 2024
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes Income tax expense for the three months ended December 28, 2024 was $6.2 million compared to $5.6 million for the three months ended December 30, 2023. The effective tax rate for the three months ended December 28, 2024 and December 30, 2023 were 14.3% and 16.2% respectively. The effective tax rate for the three months ended December 28, 2024 was lower than the effective tax rate for the three months ended December 30, 2023 primarily due to a change in the geographic distribution of pre-tax book income. The amount of unrecognized tax benefits recorded for uncertain tax positions increased by $0.7 million for the three months ended December 28, 2024. The Company recognizes accrued interest and penalties on uncertain tax positions as a component of income tax expense. The amount of interest and penalties recorded for the three months ended December 28, 2024 was $0.3 million. Within the next 12 months, it is reasonably possible that federal, state and foreign tax audit resolutions could reduce unrecognized tax benefits by approximately $8.7 million, either because the Company’s tax positions are sustained on audit, the Company agrees to their disallowance or the statute of limitations closes. The Company is currently under examination by taxing authorities in the U.S. and a foreign jurisdiction. The Company maintains valuation allowances when it is more likely than not that all or a portion of a net deferred tax asset will not be realized. During the three months ended December 28, 2024, the Company continued to record a full valuation allowance against its net deferred tax assets in certain jurisdictions within the EMEA and APAC segments and a partial valuation against its net deferred tax assets in certain jurisdictions within the AMER segment, as it was more likely than not that these assets would not be fully realized based primarily on historical performance. The Company will continue to provide a valuation allowance against its net deferred tax assets in each of the applicable jurisdictions going forward until it determines it is more likely than not that the deferred tax assets will be realized.

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