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Income Taxes
6 Months Ended
Jul. 01, 2018
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES
The Company had income tax expense of $10.0 million and $15.3 million in the second quarter and first six months of 2018, respectively. The Company had income tax expense of $6.7 million and $17.5 million in the second quarter and first six months of 2017, respectively. The increase in income tax expense in the second quarter of 2018 compared to the same period in the prior year was largely due to higher income from continuing operations in the second quarter of 2018. The decrease in income tax expense in the first six months of 2018 compared to the same period in the prior year was largely due to the reduction in the U.S. federal corporate income tax rate which took effect in 2018, partially offset by higher income from continuing operations in the first six months of 2018.
The Company’s effective tax rates from continuing operations were 29.8% and 25.1% for the second quarter and first six months of 2018, respectively. The Company’s effective tax rates from continuing operations were 30.1% and 37.8% for the second quarter and first six months of 2017, respectively. The effective tax rate in the second quarter of 2018 was impacted by the reduction in the U.S. federal corporate income tax rate which took effect in 2018. The effective tax rate in the second quarter of 2017 was impacted by a tax benefit from stock-based compensation. The decrease in the effective tax rate for the first six months of 2018 compared to the same period in the prior year was largely due to the reduction in the U.S. federal corporate income tax rate which took effect in 2018.