Note 9 - Income Taxes |
9 Months Ended |
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Aug. 29, 2026 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
Note 9: Income Taxes
Income tax expense for the three and nine months ended August 29, 2026 includes $2,075 and $1,621 of discrete tax benefit, respectively, relating to various U.S. and foreign tax matters. Excluding the discrete tax benefit, the overall effective tax rate was 26.4 percent and 26.8 percent for the three and nine months ended August 29, 2026, respectively.
Income tax expense for the three and nine months ended August 30, 2025 includes $3,742 of discrete tax benefit and $11,210 of discrete tax expense, respectively. The discrete tax benefit for the three months ended August 30, 2025 relates to various U.S. and foreign tax matters. The discrete tax expense for the nine months ended August 30, 2025 relates to the impact of withholding tax recorded on earnings that are no longer permanently reinvested, offset by various U.S. and foreign tax matters. Excluding the discrete tax benefit and expense, the overall effective tax rate was 24.4 percent and 25.2 percent for the three and nine months ended August 30, 2025, respectively.
As of August 29, 2026, we had a liability of $8,246 recorded for gross unrecognized tax benefits (excluding interest) compared to $9,206 as of November 29, 2025. As of August 29, 2026 and November 29, 2025, we had accrued $1,372 and $2,158 of gross interest relating to unrecognized tax benefits, respectively.
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