INCOME TAXES |
6 Months Ended |
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Jun. 29, 2025 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES The effective tax rate in the second quarter of 2025 and 2024 was 25.3% and 25.6%, respectively, and the effective tax rate for the comparable six month periods was 21.4% and 19.9%, respectively. The first six months of 2025 and 2024 tax rates include the impact of the recognition of excess tax benefits on share-based compensation that was recorded as a reduction to income tax expense in the amount of $3.0 million and $5.6 million, respectively. Cash paid for income taxes, net of refunds, was $14.9 million and $22.3 million in the second quarter and first six months of 2025, respectively, and $19.1 million and $19.2 million in the second quarter and first six months of 2024, respectively. On July 4, 2025, the One Big Beautiful Bill Act (the "OBBBA") was signed into law. The OBBBA makes permanent many of the expired and expiring tax provisions originally enacted in the Tax Cuts and Jobs Act of 2017, including the immediate expensing of domestic research and development expenditures, more favorable business interest deductibility and 100 percent first-year bonus depreciation on qualifying property with effective dates in 2025. The Company is currently evaluating the impact of these provisions. However, since the OBBBA was enacted after the end of the second quarter of 2025, any resulting impacts will be reflected in subsequent reporting periods and are not expected to be material.
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