XML 30 R20.htm IDEA: XBRL DOCUMENT v3.24.0.1
INCOME TAXES
3 Months Ended
Dec. 30, 2023
Income Tax Disclosure [Abstract]  
INCOME TAXES 13. INCOME TAXES
The following table reflects the provision for income taxes and the effective tax rate for the three months ended December 30, 2023 and December 31, 2022: 
 Three months ended
(dollar amounts in thousands)December 30, 2023December 31, 2022
Provision for income taxes$2,277 $3,758 
Effective tax rate19.7 %20.5 %
For the three months ended December 30, 2023, the decrease in provision for income taxes and effective tax rate as compared to the prior year period was primarily due to lower profitability and a decrease in global intangible low-taxed income (“GILTI”).
For the three months ended December 30, 2023, the effective tax rate is lower than the U.S. federal statutory tax rate primarily due to foreign income earned in lower tax jurisdictions, tax incentives, and tax credits, partially offset by GILTI.