Income Taxes |
9 Months Ended |
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Jul. 03, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company's effective tax rate was 29.8% and 30.5% for the three and nine months ended July 3, 2026, respectively, and 108.3% and 72.8% for the three and nine months ended June 27, 2025, respectively. The most significant item contributing to the difference between the statutory U.S. federal corporate tax rate of 21.0% and the Company’s effective tax rate for the three and nine months ended July 3, 2026 and June 27, 2025 was an increase in the valuation allowance against the deferred tax asset related to disallowed interest expense of $4 million and $13 million, respectively, for the three and nine months ended July 3, 2026, and $18 million and $46 million, respectively, for the three and nine months ended June 27, 2025. On July 4, 2025, the One Big, Beautiful Bill Act (“OBBBA”) was enacted, introducing several significant amendments to U.S. income tax legislation including the permanent restoration of EBITDA as the basis for computing business interest expense limitations and the immediate expensing of research expenditures. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. We have incorporated these amendments into our fiscal year 2025 and 2026 income tax provisions, as applicable, which impacted the realizability of our deferred tax assets and valuation allowance assessment.
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