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Income Taxes
6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s effective income tax rate for the three and six months ended June 30, 2025 was 27.3% and 32.7%, respectively, and was (39.4)% and 4.9% for the three and six months ended June 27, 2024, respectively. The fiscal 2024 first half effective income tax rate was negatively impacted by a nondeductible debt conversion expense resulting from the Convertible Notes Repurchases and a $1,085 reduction in deferred tax assets resulting from the related termination of the Capped Call Transactions and excess compensation subject to deduction limitations.
On July 4, 2025, the One Big Beautiful Bill Act (the Act) was signed into law, introducing significant U.S. tax changes. Key provisions that may impact the Company are bonus depreciation and interest deductibility. The Company is currently evaluating the Act’s potential impact on is Consolidated Financial Statements and will update its assessment as further guidance becomes available.