Income Taxes |
9 Months Ended |
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Jul. 03, 2021 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes |
Note 9 —Income Taxes Our effective income tax rate was 20.9% for the nine months ended July 3, 2021, compared to a benefit of 40.7% for the nine months ended June 27, 2020. The difference between the statutory rate and our effective rate for the nine months ended July 3, 2021 was primarily attributable to a reduction in the valuation allowance for our interest limitation carryforward during the period and net income tax benefits attributable to equity-based compensation awards. The difference between the statutory rate and our effective rate for the nine months ended June 27, 2020 was primarily attributable to a reduction in the valuation allowance for our interest limitation carryforward from the impact of the Coronavirus Aid, Relief, and Economic Security Act, (the “CARES Act”). 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. |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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