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Taxes on income from continuing operations
9 Months Ended
Sep. 25, 2022
Income Tax Disclosure [Abstract]  
Taxes on income from continuing operations Taxes on income from continuing operations
 Three Months EndedNine Months Ended
 September 25, 2022September 26, 2021September 25, 2022September 26, 2021
Effective income tax rate14.5%13.0%15.4%14.1%
The effective income tax rates for the three and nine months ended September 25, 2022 were 14.5% and 15.4%, respectively. The effective income tax rates for the three and nine months ended September 25, 2022 include higher tax expense resulting from a U.S. law effective in 2022 requiring capitalization of certain research and development expenditures and tax expense related to non-deductible expenses associated with European Union Medical Device Regulation. The effective income tax rates for the three and nine months ended September 26, 2021 reflect tax expense associated with the Respiratory business divestiture and a significant net tax benefit related to share-based compensation whereas, the effective income tax rate for the nine months ended September 26, 2021 reflects tax benefits associated with the Z-Medica acquisition, the extinguishment of debt, and the 2021 Restructuring Plan. Additionally, the effective income tax rates for all of the periods reflect a tax benefit from research and development tax credits.On August 16, 2022, the Inflation Reduction Act of 2022 was signed into law, which, among other things, implemented a 15% minimum tax on book income of certain large corporations. We continue to evaluate the impact the law will have on consolidated results of operations, but it is not expected to have a material effect on the consolidated financial statements.