Income Taxes |
6 Months Ended |
|---|---|
Jun. 27, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company’s effective income tax rate was 25.9% for the first half of 2025 and 25.6% for the first half of 2024. The Company’s income tax expense was $101.5 million for the first half of 2025 and $116.5 million for the first half of 2024. The decrease in income tax expense was primarily attributable to lower income before taxes during the first half of 2025 compared to the first half of 2024. The Company had uncertain tax positions, including accrued interest, of $0.5 million on June 27, 2025 and $0.4 million on December 31, 2024, all of which would affect the Company’s effective income tax rate if recognized. Prior tax years beginning in year 2021 remain open to examination by the Internal Revenue Service, and various tax years beginning in year 2001 remain open to examination by certain state tax jurisdictions due to loss carryforwards. On July 4, 2025, subsequent to the end of the second quarter of 2025, H.R. 1, commonly known as the “One Big Beautiful Bill Act” (the “OBBBA”), was enacted into law. The OBBBA is a reconciliation bill impacting businesses as it includes a broad range of tax reform provisions. The Company does not expect any material net impact to its condensed consolidated financial statements as a result of the OBBBA.
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