Income Taxes |
9 Months Ended |
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Jun. 23, 2024 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes For the third quarter of fiscal 2024, we estimated our annual effective income tax rate to be 7% for fiscal 2024, which is lower than the U.S. federal statutory rate, primarily due to (i) a significant portion of our income qualifying for preferential treatment as foreign-derived intangible income (FDII) at a 13% effective tax rate, which includes certain additional benefits from the requirement to capitalize research and development expenditures for federal income tax purposes, (ii) a benefit from our federal research and development tax credit and (iii) excess tax benefits associated with share-based awards. Our effective tax rate of 8% for the third quarter of fiscal 2024 was higher than our estimated annual effective tax rate of 7%, primarily due to net discrete tax benefits realized in the first quarter of fiscal 2024. Our effective tax rate of 1% for the third quarter of fiscal 2023 included benefits from fiscal 2021 and 2022 FDII deductions related to a change in sourcing of research and development expenditures in the third quarter of fiscal 2023.
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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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