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Income Taxes
6 Months Ended
Jul. 04, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES
The effective tax rate for the three months ended July 4, 2015 was 26.0% versus 26.5% for the three months ended June 28, 2014. The effective tax rate for the six months ended July 4, 2015 was 26.0% versus 26.4% for the six months ended June 28, 2014. The change in the effective tax rate for the three months and six months ended July 4, 2015 was primarily driven by the mix of earnings and partially offset by the non-deductible acquisition costs of the PTS Acquisition. The lower effective rate as compared to the 35.0% statutory Federal income tax rate is driven by lower foreign tax rates.
As of July 4, 2015 and January 3, 2015, the Company had approximately $4.7 million and $5.8 million, respectively, of unrecognized tax benefits, all of which would impact the effective income tax rate if recognized. Potential interest and penalties related to unrecognized tax benefits are recorded in income tax expense.
With few exceptions, the Company is no longer subject to U.S. Federal and state/local income tax examinations by tax authorities for years prior to 2010, and the Company is no longer subject to non-U.S. income tax examinations by tax authorities for years prior to 2008.