INCOME TAXES |
9 Months Ended | ||||||||||||
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Sep. 27, 2020 | |||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||
| INCOME TAXES |
The effective tax rate in the third quarter of 2020 and 2019 was 24.3% and 26.0%, respectively, and the effective tax rate for the comparable nine month periods was 25.4% and 24.6%, respectively. The effective tax rate for the third quarter of 2020 reflects the impact of certain federal and state income tax benefits and the first nine months of 2020 reflects the impact of $2.2 million of permanent tax differences due to certain Coronavirus Aid, Relief, and Economic Security Act payroll tax credits. In addition, the effective tax rate for the first nine months of 2019 includes the impact of the recognition of excess tax benefits on share-based compensation that was recorded as a reduction to income tax expense upon realization in the amount of $0.9 million.
Cash paid for income taxes, net of refunds, was $1.8 million and $1.6 million for the third quarter and nine months of 2020, respectively, and $7.4 million and $30.0 million in the third quarter and nine months of 2019, respectively.
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