INCOME TAX |
9 Months Ended |
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Jun. 27, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Tax Disclosure [Text Block] | Income Tax The Company estimates its annual effective income tax rate at the end of each quarterly period. The estimate takes into account the geographic mix of expected pre-tax income (loss), expected total annual pre-tax income (loss), enacted changes in tax laws, implementation of tax planning strategies and possible outcomes of audits and other uncertain tax positions. To the extent there are fluctuations in any of these variables during a period, the provision for income taxes may vary. The Company’s provision for income taxes for the three months ended June 27, 2026 and June 28, 2025 was $66 million (35% of income before taxes) and $19 million (20% of income before taxes), respectively. Provision for income taxes for the nine months ended June 27, 2026 and June 28, 2025 was $110 million (29% of income before taxes) and $52 million (19% of income before taxes), respectively. The effective tax rates were higher for the three and nine months ended June 27, 2026 primarily due to non-deductible acquisition related charges and the closure and settlement of the fiscal 2008 through 2010 Internal Revenue Service (“IRS”) audit. In the quarter ended June 27, 2026, the Company settled and closed its IRS audit for fiscal 2008 through 2010. The resolution of this matter did not have a material impact on the Company's condensed consolidated financial statements. The Organization for Economic Co-operation and Development, an international association of 38 countries, including the United States, has proposed changes to numerous long-standing tax principles, namely, its Pillar Two framework, which imposes a global minimum corporate tax rate of 15%. Various countries have enacted or have announced plans to enact new tax laws to implement the global minimum tax and where enacted, the rules began to be effective for the Company in fiscal 2025. The Pillar Two rules are considered an alternative minimum tax and therefore deferred taxes would not be recognized or adjusted for the estimated effects of the future minimum tax. The adoption and effective dates of these rules may vary by country and could increase tax complexity and uncertainty and may adversely affect the Company’s provision for income taxes. There was no material impact from these tax law changes in fiscal 2025, and the Company expects there will be no material impact in fiscal 2026. On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework, and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. There was no material impact from the OBBBA to the fiscal 2025 and 2026 financial statements.
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