Income Taxes |
6 Months Ended |
|---|---|
Jun. 28, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company and its subsidiaries file income tax returns in the United States and various state and international jurisdictions. In the normal course of business, the Company is regularly audited by U.S. federal, state and local, and international tax authorities in various tax jurisdictions. The effective tax rate ("ETR") was 22.7% and 20.3% for the three and six months ended June 28, 2026, and (4.9)% and (11.4)% for the three and six months ended June 29, 2025. The following items impacted the ETR during 2026 and 2025: •During the three months ended June 28, 2026 the Company recorded a net discrete tax benefit of $1.0 million, primarily associated with the release of uncertain tax positions resulting from the expiration of certain international statutes of limitations. During the three months ended June 29, 2025 the Company recorded a non-cash goodwill impairment of $1,021.9 million with no corresponding tax benefit within the Consumer Products segment. The Company also recorded a net discrete tax benefit of $5.9 million, primarily associated with the release of a valuation allowance. •During the six months ended June 28, 2026 the Company recorded a net discrete tax benefit of $9.8 million, primarily associated with share-based compensation. During the six months ended June 29, 2025 the Company recorded a non-cash goodwill impairment of $1,021.9 million within the Consumer Products segment and an unfavorable adjustment to the Loss on disposal of the eOne Film and TV business of $25.0 million. Neither adjustment had a corresponding tax benefit. The Company also recorded a net discrete tax benefit of $6.2 million, primarily associated with the release of a valuation allowance.
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