Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

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Income Taxes
9 Months Ended
Jun. 29, 2024
Income Tax Disclosure [Abstract]  
Income Taxes

Note 9—Income Taxes

Our effective income tax rate was a benefit of 40.7% for the nine months ended June 29, 2024, compared to 29.9% for the nine months ended July 1, 2023. The difference between the statutory rate and our effective rate for the nine months ended June 29, 2024 and July 1, 2023 was primarily attributable to state taxes and net income tax expenses due to equity-based compensation awards. Our effective income tax rate can fluctuate due to factors including valuation allowances, changes in tax laws, federal and state audits, and the impact of other discrete items.