Income Taxes

9 Months Ended

Sep. 28, 2024

Income Tax Disclosure [Abstract]

Income Taxes

11. INCOME TAXES

The effective income tax rate for the fiscal quarter and three fiscal quarters ended September 28, 2024 was (0.7)% and 7.6%, respectively, compared to 52.1% and 140.7%, respectively, for the fiscal quarter and three fiscal quarters ended September 30, 2023. The differences between the U.S. federal statutory income tax rate and the Company’s effective income tax rates for the fiscal quarter ended September 28, 2024 and the fiscal quarter ended September 30, 2023 were primarily attributable to the impacts of stock-based compensation expense and foreign income.