Income Taxes
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6 Months Ended |
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Mar. 28, 2015
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Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes In accordance with ASC 740, Income Taxes (ASC 740), each interim period is considered integral to the annual period, and tax expense is measured using an estimated annual effective tax rate. An entity is required to record income tax expense each quarter based on its annual effective tax rate estimated for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis, adjusted for discrete taxable events that occur during the interim period. The Company’s effective tax rate for the three and six month periods ended March 28, 2015 was 21.4% and 26.6%, respectively, compared to 42.7% and 67.9%, respectively, on pre-tax losses for the corresponding periods in the prior year. For the current three and six month periods, the effective tax rate was lower than the statutory rate primarily due to the domestic production activities deduction and reserve reversals due to a favorable income tax audit settlement. For the three and six months ended March 29, 2014, the effective tax rate was higher than the statutory rate primarily due to unbenefited foreign losses partially offset by the domestic production activities deduction. |