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Income Taxes

3 Months Ended

Mar. 21, 2015



	Quarter ended
	2015			2014
Income tax provision	$	111		$	139
Effective tax rate	23.4		%	25.9		%

Our effective tax rate was lower than the U.S. federal statutory rate of 35% primarily due to the majority of our income being earned outside the U.S. where tax rates are generally lower than the U.S. rate.

Our first quarter effective tax rate was lower than the prior year primarily due to a reduction in the cost of repatriating expected current year foreign earnings, partially offset by lapping the favorable impact of tax law changes in certain jurisdictions in the prior year.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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