v3.26.1
INCOME TAXES
 6 Months Ended
Jun. 27, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company’s effective tax rates were as follows:
Three Months EndedSix Months Ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
(in thousands, except percentages)
Income before income taxes$53,170 $71,418 $23,228 $107,396 
Provision for income taxes53,930 18,725 38,790 28,825 
Effective tax rate
101.4 %26.2 %167.0 %26.8 %
The difference in the effective tax rate for the three and six months ended June 27, 2026 compared to the corresponding prior year period was primarily attributable to the tax effects of the European Discovery and CDMO and Cell Solutions Divestitures, non-deductible transaction costs, and higher accrued interest relating to acquired uncertain tax positions.

For the three months ended June 27, 2026, the Company’s unrecognized tax benefits increased by $0.1 million to $158.2 million, primarily due to increases from acquisitions, offset by decreases from divestitures. For the three months ended June 27, 2026, the amount of unrecognized income tax benefits that would impact the effective tax rate increased by $0.1 million to $153.3 million for the same reasons discussed above. The accrued interest and penalties on unrecognized tax benefits were $32.7 million and $34.2 million, respectively, as of June 27, 2026.
The Company’s prepaid and accrued tax positions are as follows:
June 27, 2026December 27, 2025Affected Line Item in the Unaudited Condensed Consolidated Balance Sheets
(in thousands)
Prepaid income tax$141,913 $119,903 Other current assets
Accrued income taxes45,027 39,016 Other current liabilities
The Company conducts business in a number of tax jurisdictions. As a result, it is subject to tax audits on a regular basis including, but not limited to, such major jurisdictions as the U.S., the U.K., China, France, Germany, and Canada. With few exceptions, the Company is no longer subject to U.S. and international income tax examinations for years before 2022.
The Company and certain of its subsidiaries have ongoing tax controversies in the U.S., Canada, France, Ireland, the U.K., and India. The Company does not anticipate resolution of these audits will have a material impact on its unaudited condensed consolidated financial statements.