Income Taxes

3 Months Ended

Mar. 29, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company’s effective tax rate for the three months ended March 29, 2020 and March 31, 2019 was 32.1% and 20.0%, respectively. The Company’s effective tax rate varied from the U.S. federal statutory rate of 21% primarily due to (1) an increase in tax on our foreign operations, (2) an increase in state income taxes and (3) a reduction for the benefit of share-based compensation.

There were no significant changes to the unrecognized tax benefits or related interest and penalties for the three months ended March 29, 2020. During the next twelve months, we believe it is reasonably possible the Company will reduce unrecognized tax benefits by up to $1,399 due primarily to the lapse of statutes of limitations and expected settlements.

The current portion of refundable income taxes was $9,764 and $13,555 as of March 29, 2020 and December 29, 2019, respectively, and is included in “Accounts and notes receivable, net” in the condensed consolidated balance sheets. There were no long-term refundable income taxes as of March 29, 2020 and December 29, 2019.