Income Taxes |
9 Months Ended |
|---|---|
Jul. 26, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes Our provision for income taxes and effective tax rate are affected by the geographical composition of pre-tax income which includes jurisdictions with differing tax rates, conditional reduced tax rates and other income tax incentives. It is also affected by events that vary from period to period, such as changes in income tax laws and the resolution of prior years’ income tax filings. Our effective tax rates for the third quarter of fiscal 2026 and 2025 were 12.7 percent and 30.6 percent, respectively. The effective tax rate for the third quarter of fiscal 2026 was lower compared to the same period in the prior fiscal year, primarily due to the recognition of a valuation allowance against deferred tax assets related to corporate alternative minimum tax (CAMT) credits in fiscal 2025. Our effective tax rates for the first nine months of fiscal 2026 and 2025 were 12.9 percent and 27.2 percent, respectively. The effective tax rate for the first nine months of fiscal 2026 was lower than the same period in the prior fiscal year, primarily due to a remeasurement of deferred tax assets resulting from new tax incentive agreements in Singapore, and the recognition of a valuation allowance against deferred tax assets related to CAMT credits in fiscal 2025.
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