XML 26 R12.htm IDEA: XBRL DOCUMENT v3.25.1
Income Taxes
 3 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
ASC 740 requires companies to apply their estimated annual effective tax rate on a year-to-date basis in each interim period. These rates are derived, in part, from expected annual pre-tax income or loss. In the thirteen weeks ended March 29, 2025, and for the thirteen weeks ended March 30, 2024, the Company applied an estimated annual effective tax rate based on expected annual pre-tax income to the interim period pre-tax loss to calculate the income tax benefit.
For the thirteen weeks ended March 29, 2025, the effective income tax rate was 9.7%. The Company recorded an income tax benefit for the thirteen weeks ended March 29, 2025 of $34. The effective tax rate for the thirteen weeks ended March 29, 2025 was the result of certain non-deductible expenses and state and foreign income taxes.
For the thirteen weeks ended March 30, 2024, the effective income tax rate was 24.5%. The Company recorded an income tax benefit for the thirteen weeks ended March 30, 2024 of $483. The effective tax rate for the thirteen weeks ended March 30, 2024 was the result of certain non-deductible expenses and state and foreign income taxes.