Income Taxes |
3 Months Ended |
|---|---|
Oct. 02, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company recorded an income tax provision of $221 million for the three months ended October 2, 2026. The income tax provision for the three months ended October 2, 2026 includes total discrete tax benefit of approximately $83 million, primarily related to net excess tax benefits related to share-based compensation expense. The Company’s income tax provision for the three months ended October 2, 2026 differed from the provision for income taxes that would be derived by applying the Singaporean statutory rate of 17% to income before income taxes, primarily due to the net effect of tax benefits related to earnings generated in jurisdictions that are subject to tax incentive programs, offset by the effects of Pillar Two global minimum tax. As of October 2, 2026, the Company’s unrecognized tax benefit excluding interest and penalties is approximately $156 million, substantially all of which would impact the effective tax rate, if recognized, subject to certain future valuation allowance reversals. The balance did not change materially during the three months ended October 2, 2026. The Company is not expecting material changes to its unrecognized tax benefits in the next twelve months. The Company recorded an income tax provision of $65 million for the three months ended October 3, 2025. The income tax provision for the three months ended October 3, 2025 includes total discrete tax benefit of approximately $38 million, primarily related to the release of certain valuation allowances in connection with the enactment of the One Big Beautiful Bill Act in July 2025, as well as net excess tax benefits related to share-based compensation expense. The Company’s income tax provision for the three months ended October 3, 2025 differed from the provision for income taxes that would be derived by applying the Singaporean statutory rate of 17% to income before income taxes, primarily due to the net effect of tax benefits related to earnings generated in jurisdictions that are subject to tax incentive programs, offset by the effects of Pillar Two global minimum tax.
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