Income taxes |
6 Months Ended |
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Jun. 28, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income taxes | Income taxes The worldwide effective income tax rates for the fiscal six months of 2026 and 2025 were 15.5% and 17.8%, respectively. The primary drivers for year over year change in the Company’s effective tax were: •In the fiscal first quarter of 2025, the Company reversed approximately $7.0 billion related to the talc reserve which was recorded at approximately 22%. •In the first fiscal six months of 2025, the effective tax rate benefited from changes in uncertain international tax positions due to expiration of statute of limitations. •Additional tax benefits in the fiscal first six months of 2026 related to the Company’s share-based equity compensation programs that either vested or were exercised during the fiscal six months of 2026 and 2025, which reduced the effective tax rate by 2.9% and 0.3%, respectively. As of June 28, 2026, the Company had approximately $2.7 billion of liabilities from unrecognized tax benefits. The Company conducts business and files tax returns in numerous countries and currently has tax audits in progress in several jurisdictions. With respect to the United States, the Internal Revenue Service has completed its audit for the tax years through 2016 and the audit for tax years 2017 through 2020 is ongoing. In other major jurisdictions where the Company conducts business, the years that remain open to tax audit go back to the year 2014.
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