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INCOME TAXES | 3 Months Ended
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Jun. 27, 2026
Income Tax Disclosure [Abstract] |
INCOME TAXES | 6. INCOME TAXES The Company conducts business globally and reports its results of operations in a number of foreign jurisdictions in addition to the United States. The Company’s reported tax rate differs from the statutory tax rate due to the jurisdictional mix of earnings in any given period as the foreign jurisdictions in which it operates have tax rates that differ from the U.S. statutory tax rate. The Company’s effective tax rate is adversely impacted by non-deductible expenses including executive compensation and is favorably impacted by the jurisdictional mix of earnings and research credits generated. For the three months ended June 27, 2026, the Company reported income tax expense of $14.6 million representing an effective tax rate of 30.6%. The effective tax rate for the three months ended June 27, 2026 includes $1.7 million of discrete tax expense, primarily related to stock compensation shortfalls and valuation allowance impacts related to losses in certain recently acquired jurisdictions. For the three months ended June 28, 2025, the Company reported income tax expense of $11.1 million, representing an effective tax rate of 24.7%. The effective tax rate for the three months ended June 28, 2025 includes $0.1 million of discrete tax expense, primarily related to stock compensation shortfalls. The increase in the reported tax rate for the three months ended June 27, 2026, compared to the same period in fiscal 2026, relates primarily to the increase in net stock compensation shortfalls and the impact of losses incurred in certain jurisdictions for which no tax benefit was recognized.

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