XML 30 R19.htm IDEA: XBRL DOCUMENT v3.25.3
Income Taxes
 9 Months Ended
Sep. 24, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The effective income tax rate was 67.4% for the quarter and 45.8% for the year-to-date period ended September 24, 2025, compared to 18.5% and 22.2% for the prior year periods, respectively. The effective income tax rate for the quarter and year-to-date periods ended September 24, 2025 included discrete items relating to share-based compensation of 9.3% and 10.8%, respectively. The effective income tax rate for the year-to-date period ended September 25, 2024 included discrete items relating to share-based compensation of 0.1%.

On July 4, 2025, H.R. 1, the budget bill known as the One Big Beautiful Bill Act ("OBBBA") was enacted. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework, and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. Provisions effective in 2025 have been reflected in the quarter ended September 24, 2025. We currently expect a beneficial cash flow impact in fiscal 2025 from the enhanced expensing provisions. The OBBBA does not materially impact our effective tax rate in fiscal year 2025.