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Income Taxes
6 Months Ended
Jun. 29, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
For the fiscal quarters ended June 29, 2024 and July 1, 2023, CRA’s effective income tax rate (“ETR”) was 32.0% and 30.1%, respectively. The ETR for the second quarter of fiscal 2024 was higher than the second quarter of fiscal 2023 primarily due to increases in estimated state apportionment and nondeductible executive compensation and a decrease in the U.S. benefit
associated with the foreign-derived intangible income deduction, partially offset by having had a valuation allowance in the prior year that has now reversed.
For the fiscal year-to-date periods ended June 29, 2024 and July 1, 2023, CRA's ETR was 29.3% and 29.7%. respectively. The ETR for the current fiscal year-to-date period was lower than the prior year-to-date period primarily due to having had a valuation allowance in the prior year that has now reversed.