Income Taxes |
6 Months Ended |
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Jun. 27, 2024 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes Effective tax rates for the thirteen and twenty-six weeks ended June 27, 2024 and June 29, 2023 were based on the Company’s forecasted annualized effective tax rates and were adjusted for discrete items that occurred within each period. The Company’s effective income tax rate was 19.8% and 22.4% for the thirteen weeks ended June 27, 2024 and June 29, 2023, respectively, and 16.7% and 21.8% for the twenty-six weeks ended June 27, 2024 and June 29, 2023, respectively. For the thirteen and twenty-six weeks ended June 27, 2024, the effective income tax rates were lower than the statutory federal income tax rate of 21.0% primarily due to tax deductions in excess of book expense related to stock-based compensation awards. For the thirteen and twenty-six weeks ended June 29, 2023, the effective income tax rates were higher than the statutory federal income tax rate of 21.0% primarily due to state income taxes that were partially offset by tax deductions in excess of book expense related to stock-based compensation awards.
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- References No definition available.
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- Definition The entire disclosure for income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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