XML 27 R17.htm IDEA: XBRL DOCUMENT v3.25.1
Income Taxes
 3 Months Ended
Mar. 29, 2025
Income Taxes  
Income Taxes

(9)

Income Taxes

[Income tax provisions for interim periods are based on an estimated annual income tax rate, adjusted for discrete tax items, with any changes affecting the estimated annual effective tax rate recorded in the interim period in which the change occurs. We determined that the estimated annual effective tax rate method would provide a reliable estimate of our overall annual effective tax rate.]

[Our effective tax rate was 209.2% for the first quarter of 2025 and 23.1% for the first quarter of 2024. Our effective tax rate of 209.2% for the first quarter of 2025 is primarily due to lower pre-tax income relative to the tax benefit received during the first quarter of 2025, which was primarily driven by a discrete tax benefit of $2.1 million for the tax effect of a pre-transition loss related to Section 987 of the Internal Revenue Code of 1986 for the cumulative unrecognized foreign exchange loss relating to our primary operating subsidiary in Canada, which is a qualified business unit for purposes of Section 987.]