Note 7 - Income Taxes |
6 Months Ended |
|---|---|
Jun. 28, 2026 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
7. Income Taxes
We manage our affairs so that we are centrally managed and controlled in the United Kingdom (“U.K.”) and therefore have our tax residency in the U.K. The provision for income taxes consists of provisions for the U.K. and international income taxes. We operate in an international environment with operations in various locations outside the U.K. Accordingly, the consolidated income tax rate is a composite rate reflecting the earnings in the various locations and the applicable rates.
The effective income tax rate for the first six months ended June 28, 2026, was 29.4%, compared to 34.1% for the first six months ended June 29, 2025.
In 2026 the rate was impacted by non-deductible expenses. Cash income taxes paid, net of refunds, are disclosed within supplementary cash flow information in the Consolidated Statements of Cash Flows.
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