Quarterly report [Sections 13 or 15(d)]

Income Taxes

v3.25.1
Income Taxes
 3 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES

9. INCOME TAXES

The provision for income taxes for the three months ended March 29, 2025 and March 30, 2024, was 23.5% and 23.2% of pretax income, respectively. These effective rates fluctuate relative to the levels of income and different tax rates in effect among the countries in which the Company sells products.

At March 29, 2025, the Company had unrecognized tax benefits of $5.6 including accrued interest. If recognized, $0.4 of unrecognized tax benefits would reduce the effective tax rate in future periods. The Company recognizes interest and penalties related to income tax matters in income tax expense. Interest accrued as of March 29, 2025 is not considered material to the Company’s Consolidated Financial Statements.

The Company is currently under audit by certain foreign tax authorities and remains subject to income tax examinations in various foreign jurisdictions. The Company believes it has adequately reserved for potential income tax exposures that could result from audit adjustments.