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Income Taxes

3 Months Ended

Mar. 28, 2014

INCOME TAXES

The effective income tax rate represents the combined federal, state and foreign tax effects attributable to pretax earnings for the year. The increase in the effective tax rate for the three-month period ended March 28, 2014, as compared to the rate for the same period in the prior year is primarily due to the fact that the 2013 rate was favorably impacted by certain discrete items, including the reversal of reserves for uncertain tax positions, the reversal of valuation allowances on net operating loss carryforwards as a result of the settlement of a state audit, and a benefit provided by the federal research and experimentation credit, which expired as of December 31, 2013.

- 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.

+ References+ Details

For the Three Months Ended

March 28,
2014

March 29,
2013

Effective Income Tax Rate