XML 26 R13.htm IDEA: XBRL DOCUMENT v3.21.2
Provision for Income Taxes
 9 Months Ended
Oct. 02, 2021
Income Tax Disclosure [Abstract]  
Provision for Income Taxes Provision for Income Taxes The provision for income taxes was $21,252,000 in the first nine months of 2021 and $13,738,000 in the first nine months of 2020. The effective tax rate of 26% in the first nine months of 2021 was higher than the Company's statutory rate of 21% primarily due to the distribution of the Company's worldwide earnings, nondeductible expenses, state taxes, and tax expense associated with the Global Intangible Low-Taxed Income (GILTI) provisions. These increases in tax expense were offset in part by a decrease in tax related to the net excess income tax benefits from stock-based compensation arrangements. The effective tax rate of 26% in the first nine months of 2020 was higher than the Company's statutory rate of 21% primarily due to nondeductible expenses, the distribution of the Company's worldwide earnings and state taxes. These increases in tax expense were offset in part by a decrease in tax related to the net excess income tax benefits from stock-based compensation arrangements.