v3.26.1
Income Taxes
 6 Months Ended
Jun. 27, 2026
Income Taxes [Abstract]  
Income Taxes
Note 8 – Income Taxes
For the three months ended June 27, 2026, our effective tax rate was
24.8
%, compared to
24.4
% for the prior year
period.
The difference between our effective and federal statutory tax rates primarily relates to state and
foreign
income taxes and interest expense.
For the six months ended June 27, 2026, our effective tax rate was
25.2
%, compared to
24.7
% for the prior year
period.
The difference between our effective and federal statutory tax rates primarily relates to
state and foreign
income taxes and interest expense.
The total amount of unrecognized tax benefits, which are included in
“other liabilities” within our condensed
consolidated balance sheets, as of June 27, 2026 and December 27, 2025
was $
105
million and $
112
million,
respectively, of which $
97
million and $
104
million, respectively, would affect the effective tax rate if recognized.
All tax returns audited by the IRS are officially closed through 2021.
The tax years subject to examination by the
IRS include years 2022 and forward.
In addition, limited positions reported in the 2017 tax year are subject
to IRS
examination.
During the three months ended June 27, 2026 and June 28, 2025, the
amount of tax interest income included as a
component of the provision for taxes was $
2
million and $
0
million, respectively.
During the six months ended
June 27, 2026 and June 28, 2025, the amount of tax interest income/(expense)
included as a component of the
provision for taxes was $
2
million and $
(1)
million, respectively.
The total amount of accrued interest is included
in other liabilities within our condensed consolidated balance sheets, and
was $
20
million as of June 27, 2026 and
$
22
million as of December 27, 2025.
The amount of penalties accrued for during the periods presented
was not
material to our condensed consolidated financial statements.