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INCOME TAXES
 9 Months Ended
Jul. 01, 2022
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
For the three and nine months ended July 1, 2022 and July 2, 2021, the Company’s earnings before income taxes, income tax expense and effective income tax rate were as follows:

 Three Months EndedNine Months Ended
 
(thousands, except tax rate data)
July 1, 2022July 2, 2021July 1, 2022July 2, 2021
Profit before income taxes$19,244 $39,074 $47,043 $102,395 
Income tax expense5,162 10,300 12,205 25,940 
Effective income tax rate26.8 %26.4 %25.9 %25.3 %
 
The effective tax rates for the three and nine months ended July 1, 2022 and the prior year periods were relatively consistent with no primary factors materially impacting the rate.

The impact of the Company’s operations in jurisdictions where a valuation allowance is assessed is removed from the overall effective tax rate methodology and recorded directly based on year to date results for the year for which no tax expense or benefit can be recognized.  The significant tax jurisdictions that have a valuation allowance for the periods ended July 1, 2022 and July 2, 2021 were:
 
July 1, 2022July 2, 2021
FranceFrance
IndonesiaIndonesia
SwitzerlandSwitzerland

The Company regularly assesses the adequacy of its provisions for income tax contingencies in accordance with the applicable authoritative guidance on accounting for income taxes.  As a result, the Company may adjust the reserves for unrecognized tax benefits due to the impact of changes in its assumptions or as a result of new facts and developments, such as changes to interpretations of relevant tax law, assessments from taxing authorities, settlements with taxing authorities and lapses of statutes of limitation.  The Company’s 2022 fiscal year tax expense is anticipated to be unchanged related to uncertain income tax positions.

In accordance with its accounting policy, the Company recognizes accrued interest and penalties related to unrecognized benefits as a component of income tax expense.  The Company is projecting accrued interest of $100 related to uncertain income tax positions for the fiscal year ending September 30, 2022.

The Company files income tax returns, including returns for its subsidiaries, with federal, state, local and foreign taxing jurisdictions.   As of the date of this report, the following tax years remain open to examination by the respective significant tax jurisdictions:
 
JurisdictionFiscal Years
United States2018-2021
Canada2018-2021
France2018-2021
Germany2019-2021
Italy2019-2021
Switzerland2011-2021