INCOME TAXES |
9 Months Ended |
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May 02, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | NOTE 12—INCOME TAXES The effective tax rate for the third quarter of fiscal 2026 was an expense rate of 21.4% on pre-tax income compared to a benefit rate of 56.3% on pre-tax loss for the third quarter of fiscal 2025. The change from the third quarter of fiscal 2025 is primarily driven by the impact of a partnership investment entered into in the third quarter of fiscal 2025, as well as a decrease in the discrete tax benefit for return to provision tax credits in the third quarter of fiscal 2026 compared to fiscal 2025, combined with an increase in pre-tax income for the third quarter of fiscal 2026. The primary driver for the variation between the Company’s statutory tax rate and its effective tax rate was discrete tax benefits resulting from return to provision tax credits. The effective tax rate for fiscal 2026 year-to-date was an expense rate of 12.5% on pre-tax income compared to a benefit rate of 35.6% on pre-tax loss for fiscal 2025 year-to-date. The change from fiscal 2025 year-to-date is primarily driven by the increase in pre-tax income, discrete tax benefits from favorable tax audit settlements and employee stock award vestings during fiscal 2026, as well as the tax credit benefit of a solar array placed in service during the first quarter of fiscal 2026. The primary drivers for the variation between the Company’s statutory tax rate and its effective tax rate were favorable audit settlements, discrete tax benefits resulting from employee stock award vestings and return to provision tax credits, and the solar tax credit benefit.
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