v3.26.1
Income Taxes
 6 Months Ended
Jul. 03, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Three Months EndedSix Months Ended
July 3, 2026July 4, 2025July 3, 2026July 4, 2025
(In thousands)
Income (loss) from continuing operations before income taxes$7,465 $(25,654)$8,099 $(83,003)
Income tax expense$8,501 $10,801 $17,546 $9,032 

The effective tax rate for the three and six months ended July 3, 2026 was higher than the 2026 federal statutory rate of 21%, primarily due to an increase in valuation allowance on U.S. deferred tax assets, non-deductible expenses and U.S. taxation on international operations. This was partially offset by tax credits for research and development and non-U.S. income taxed at lower rates.

The effective tax rate for the three and six months ended July 4, 2025 differs from the 2025 U.S. federal statutory rate of 21%, primarily due to an increase in valuation allowance on U.S. deferred tax assets, which had a significant impact on the effective tax rate. Additionally, non-deductible expenses and U.S. taxation on international operations also contributed to the rate difference. This was partially offset by tax credits for research and development and non-U.S. income taxed at lower rates.