Income Taxes |
6 Months Ended |
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Jul. 04, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes For interim periods, income tax is equal to the total of (1) year-to-date pretax income multiplied by the forecasted effective tax rate plus (2) tax expense items specific to the period. In situations where we expect to report losses and where we do not expect to receive tax benefits, we apply separate forecasted effective tax rates to those jurisdictions rather than including them in the consolidated forecasted effective tax rate. For the three and six months ended July 4, 2026, net tax expense was $2 million and $1 million, respectively. For the three and six months ended June 28, 2025, net tax expense was $9 million and $10 million, respectively. Net tax expense consists primarily of interim period tax expense based on year-to-date pretax income multiplied by our forecasted effective tax rate. In addition to items specific to the period, our income tax rate is impacted by the mix of earnings across the jurisdictions in which we operate, non-deductible Indemnification Agreement expense, and stock based compensation. Cash Paid for Taxes For the three and six months ended July 4, 2026, cash paid for taxes, net of refunds was $3 million and $4 million, respectively. For the three and six months ended June 28, 2025, cash paid for taxes, net of refunds was $3 million and $6 million, respectively.
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