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Income Taxes
6 Months Ended
Jun. 27, 2014
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The (benefit from) provision for income taxes for 2014 and 2013 is computed at the effective rate expected to be applicable in each respective full year using the statutory rates on a country by country basis, adjusted for changes in valuation allowances relating to the Company’s net operating loss and capital loss carryforwards and changes in tax uncertainties. The effective rates for the three month periods ended June 27, 2014 and June 28, 2013 were a benefit of 27.5% and 16.3%, respectively.
The effective rate for the three months ended June 27, 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.
The effective rate for the three months ended June 28, 2013 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.
The effective tax rates for the six month periods ended June 27, 2014 and June 28, 2013 were a benefit of 2.1% and a provision of 1.5%, respectively.
The effective rate for the six months ended June 27, 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.
The effective rate for the six months ended June 28, 2013 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.