v3.25.2
Income Taxes
 6 Months Ended
Jun. 29, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The income tax provision is calculated using an estimated annual effective tax rate based upon estimates of annual income, permanent items, statutory tax rates, and planned tax strategies in the various jurisdictions in which the Company operates, except that certain loss jurisdictions and discrete items such as the resolution of uncertain tax positions and stock-based accounting income tax benefits are treated separately.
Second QuarterSix Months
(dollars in millions)2025202420252024
Provision (benefit) for income taxes (a)$50.2$51.4$100.3$97.8
Income (loss) before income taxes$260.6$231.7$499.5$457.2
Effective tax rate19.3%22.2%20.1%21.4%
(a) The second quarter of 2025 includes net discrete income tax benefits of $8.4 million and the first six months of 2025 includes net discrete income tax benefits of $12.1 million, respectively. The second quarter of 2024 includes net discrete income tax benefits of $0.7 million and the first six months of 2024 includes net discrete income tax benefits of $5.1 million, respectively.