Income Taxes |
9 Months Ended |
|---|---|
Jun. 26, 2026 | |
| Income Taxes | |
| Income Taxes | 12. Income Taxes We recorded income tax expense of $223 million and $208 million for the quarters ended June 26, 2026 and June 27, 2025, respectively. We recorded income tax expense of $520 million and $1,128 million for the nine months ended June 26, 2026 and June 27, 2025, respectively. The income tax expense for the nine months ended June 26, 2026 included a $114 million net income tax benefit related primarily to the settlement of prior period tax matters. The income tax expense for the nine months ended June 27, 2025 included $574 million of income tax expense related to a net increase in the valuation allowance for certain deferred tax assets associated with a ten-year tax credit obtained by a Swiss subsidiary in fiscal 2024. In addition, the income tax expense for the nine months ended June 27, 2025 included $13 million of income tax expense related to the revaluation of deferred tax assets as a result of a decrease in the corporate tax rate in a non-U.S. jurisdiction. We record accrued interest and penalties related to uncertain tax positions as part of income tax expense (benefit). As of June 26, 2026 and September 26, 2025, we had $44 million and $89 million, respectively, of accrued interest and penalties related to uncertain tax positions on the Condensed Consolidated Balance Sheets, recorded primarily in income taxes. During the nine months ended June 26, 2026, we recognized an income tax benefit of $45 million related to interest and penalties on the Condensed Consolidated Statements of Operations. Substantially all of this income tax benefit was recognized as part of the settlement of prior period tax matters discussed above. |