Note 8 - Income Taxes |
6 Months Ended |
|---|---|
May 30, 2026 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
Note 8: Income Taxes
Income tax expense for the three and six months ended May 30, 2026 includes $356 of discrete tax expense and $454 of discrete tax expense, respectively, relating to various U.S. and foreign tax matters. Excluding the discrete tax expense, the overall effective tax rate was 27.4 percent and 27.2 percent for the three and six months ended May 30, 2026, respectively.
Income tax expense for the three and six months ended May 31, 2025 includes $13,961 of discrete tax expense and $14,952 of discrete tax expense, respectively, relating to the impact of withholding tax recorded on earnings that are no longer permanently reinvested as well as other various U.S. and foreign tax matters. Excluding the discrete tax expense, the overall effective tax rate was 25.7 percent and 25.8 percent for the three and six months ended May 31, 2025, respectively.
As of May 30, 2026, we had a liability of $8,445 recorded for gross unrecognized tax benefits (excluding interest) compared to $9,206 as of November 29, 2025. As of May 30, 2026 and November 29, 2025, we had accrued $1,890 and $2,158 of gross interest relating to unrecognized tax benefits, respectively.
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