Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

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Income Taxes
 9 Months Ended
Oct. 02, 2021
Income Tax Disclosure [Abstract]  
INCOME TAXES

10. INCOME TAXES

The provision for income taxes for the three months ended October 2, 2021 and September 26, 2020 was 25.5% and 20.7% of pretax income, respectively. The provision for income taxes for the nine months ended October 2, 2021 and September 26, 2020 was 22.0% and 16.9% of pretax income, respectively, after adjusting the prior year for the impact of the goodwill impairment charge. These effective rates fluctuate relative to the levels of income and different tax rates in effect among the countries in which the Company sells products.

At October 2, 2021, the Company had an unrecognized tax benefit of $10,566 including accrued interest. If recognized, $3,421 of unrecognized tax benefit would reduce the effective tax rate in future periods. The Company recognizes interest and penalties related to income tax matters in income tax expense. Interest accrued as of October 2, 2021 is not considered material to the Company’s consolidated financial statements.

The Company remains subject to income tax examinations in the U.S. and various state and foreign jurisdictions for tax years 2009-2020. Although the Company is not currently under examination in most jurisdictions, limited transfer pricing disputes exist for years dating back to 2008. The Company estimates a net benefit ranging from $0 to $974 could be recognized within the next 12 months due to the expiration of statutes of limitation.