v3.26.3
Income Taxes (Tables)
 12 Months Ended
Sep. 03, 2026
Income Tax Disclosure [Abstract]  
Schedule of income (loss) before tax and other items
Our income tax (provision) benefit consisted of the following:
For the year ended202620252024
Income before income taxes and equity in net income (loss) of equity method investees
U.S.$4,819 $686 $544 
Foreign94,852 8,968 696 
$99,671 $9,654 $1,240 
Income tax (provision) benefit
Current
U.S. federal$(782)$(275)$(82)
State(272)(15)(1)
Foreign(14,180)(670)(333)
(15,234)(960)(416)
Deferred
U.S. federal522 (118)18 
State46 — — 
Foreign(95)(46)(53)
473 (164)(35)
Income tax (provision) benefit$(14,761)$(1,124)$(451)
Schedule of components of income tax (provision) benefit
Our income tax (provision) benefit consisted of the following:
For the year ended202620252024
Income before income taxes and equity in net income (loss) of equity method investees
U.S.$4,819 $686 $544 
Foreign94,852 8,968 696 
$99,671 $9,654 $1,240 
Income tax (provision) benefit
Current
U.S. federal$(782)$(275)$(82)
State(272)(15)(1)
Foreign(14,180)(670)(333)
(15,234)(960)(416)
Deferred
U.S. federal522 (118)18 
State46 — — 
Foreign(95)(46)(53)
473 (164)(35)
Income tax (provision) benefit$(14,761)$(1,124)$(451)
Schedule of effective income tax reconciliation
In 2026, we adopted ASU 2023-09, Improvements to Income Tax Disclosure, on a prospective basis. The table below reconciles our tax (provision) benefit based on the U.S. federal statutory rate to our effective rate for the year ended September 3, 2026:
For the year ended2026
U.S. federal income tax (provision) benefit at statutory rate$(20,931)21.0 %
State taxes, net of federal benefit(1)
(162)0.2 %
Foreign effects
Singapore
Tax rate differential5,968 (6.0)%
Other(17)— %
Other foreign jurisdictions(316)0.3 %
Other(2)
697 (0.7)%
Income tax (provision) benefit
$(14,761)14.8 %
(1)State taxes in Illinois made up the majority of the tax effects for 2026.
(2)Includes the tax effects of nontaxable or nondeductible items, tax credits, impacts of cross border tax effects, and changes in unrecognized tax benefits.

The table below presents required disclosures prior to the adoption of ASU 2023-09 and reconciles our tax (provision) benefit based on the U.S. federal statutory rate to our effective rate for the years ended August 28, 2025 and August 29, 2024:
For the year ended20252024
U.S. federal income tax (provision) benefit at statutory rate
$(2,027)21.0 %$(260)21.0 %
U.S. tax on foreign operations(476)4.9 (7)0.6 
Change in valuation allowance36 (0.4)(59)4.8 
Change in unrecognized tax benefits(23)0.2 (41)3.3 
Foreign tax rate differential1,132 (11.7)(214)17.2 
Research and development tax credits208 (2.2)76 (6.1)
State taxes, net of federal benefit(7)0.1 12 (1.0)
Other33 (0.3)42 (3.4)
Income tax (provision) benefit$(1,124)11.6 %$(451)36.4 %
Schedule of cash paid for income taxes, net of refunds
The table below provides the updated requirements of ASU 2023-09 for cash paid for income taxes, net of refunds:
For the year ended2026
Federal$275 
State(1)
153 
Foreign
Singapore481 
Other jurisdictions345 
Total cash paid for income taxes, net of refunds$1,254 
(1) State taxes in California made up the majority of the tax effects for 2026.
Schedule of deferred tax assets and liabilities Deferred tax assets and liabilities consist of the following:
As ofSeptember 3,
2026		August 28,
2025
Deferred tax assets
Net operating loss and tax credit carryforwards$737 $1,016 
Accrued salaries, wages, and benefits529 203 
Operating lease liabilities140 192 
Inventories119 25 
Property, plant, and equipment63 — 
Other202 37 
Gross deferred tax assets1,790 1,473 
Less valuation allowance(581)(634)
Deferred tax assets, net of valuation allowance1,209 839 
Deferred tax liabilities
Right-of-use assets(108)(163)
Other(172)(112)
Deferred tax liabilities(280)(275)
Net deferred tax assets$929 $564 
Schedule of unrecognized tax benefits rollforward
Below is a reconciliation of the beginning and ending amount of our unrecognized tax benefits:
For the year ended202620252024
Beginning unrecognized tax benefits$735 $716 $744 
Increases related to tax positions from prior years17 11 2 
Increases related to prior year tax positions taken in current year
— — 20 
Increases related to tax positions taken in current year64 55 54 
Decreases related to tax positions from prior years(4)(8)(89)
Decreases related to settlement with tax authorities
— — (15)
Reductions due to lapsed statutes of limitations
(17)(39)— 
Ending unrecognized tax benefits$795 $735 $716