Income Taxes

6 Months Ended

Jul. 01, 2022

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

	For the Three Months Ended				For the Six Months Ended
	July 1, 2022		July 2, 2021		July 1, 2022		July 2, 2021
Effective Income Tax Rate	12.1	%	31.7	%	18.7	%	22.3	%

The effective income tax rate represents the combined federal, state and foreign tax effects attributable to pretax earnings for the period. The decrease in the effective tax rate for the three-month and six-month fiscal periods ended July 1, 2022 to the corresponding rates in the prior year were driven by state tax benefits and lower net earnings in the current period. In addition, for the three-month fiscal period, the decrease was primarily caused by a discrete benefit recorded in the prior period related to the sale of the Company’s former UK Composites business.