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INCOME TAXES | 6 Months Ended
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Mar. 29, 2026
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES The effective tax rate for the three and six month periods ended March 29, 2026 and March 30, 2025, was as follows:
|  | Three Month Periods Ended |  | Six Month Periods Ended
|  | March 29, 2026 |  | March 30, 2025 |  | March 29, 2026 |  | March 30, 2025
Effective tax rate |  | 38.9 | % |  | 83.9 | % |  | 9.4 | % |  | 44.8 | %
The estimated annual effective tax rate applied to the three and six month period ended March 29, 2026, differs from the US federal statutory rate of 21% principally due to income earned outside the U.S. that is subject to U.S. tax, including the U.S. tax on global intangible low taxed income (“GILTI”), net of applicable deductions, and certain nondeductible expenses. The Company is not projecting U.S. taxable income for Fiscal 2026, which does not allow it to take advantage of the foreign-derived intangible income deduction or foreign tax credits on its GILTI income. The Company’s federal effective tax rate on GILTI was therefore 21% During the six month period ended March 29, 2026, the Company effectively settled an uncertain tax position in the U.S. As a result, the Company recognized a non-cash reduction in income tax expense of $17.6 million during the six month period ended March 29, 2026.

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