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Income Taxes
9 Months Ended
Oct. 02, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesFor the quarter ended October 2, 2021, the Company recorded income tax expense of $73,821 on earnings before income taxes of $345,005 for an effective tax rate of 21.4%, as compared to an income tax expense of $43,163 on earnings before income taxes of $248,616, for an effective tax rate of 17.4% for the quarter ended September 26, 2020. For the nine months ended October 2, 2021, the Company recorded income tax expense of $205,756 on earnings before income taxes of $1,050,204 for an effective tax rate of 19.6%, as compared to income tax expense of $43,467 on earnings before income taxes of $310,797, for an effective tax rate of 14.0% for the nine months ended September 26, 2020. The difference in the effective tax rates for the comparative periods was impacted by the geographical dispersion of profits and losses related to the recovery from the impacts of the COVID-19 pandemic, a one-time Italian tax planning election allowing for the realignment of tax asset values for the quarter ended July 3, 2021, and additional carryback rate differential in the U.S.