Income Taxes

3 Months Ended

Mar. 29, 2020

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The Company had income tax expense of $6.0 million and $1.3 million in the first quarters of 2020 and 2019, respectively. The Company’s effective tax rates from continuing operations were 15.5% and 4.1% for the first quarters of 2020 and 2019, respectively. The Company received a tax benefit in both periods from stock price appreciation on stock-based awards that settled in the quarters, resulting in a lower than statutory tax rate.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") was signed into law. We do not expect the tax provisions in the CARES Act to have a material impact on the Company’s consolidated financial statements.