Income Taxes

6 Months Ended

Nov. 26, 2023

Income Taxes [Abstract]

Income Taxes

(15) Income Taxes

During the second quarter of fiscal 2024, we received a notice of proposed adjustment from the Internal Revenue Service associated

with a capital loss from fiscal 2019. We believe that we have meritorious defenses against this assessment and will vigorously defend

our position. We do not expect the resolution of the proposed adjustment to have a material impact on our financial position or

liquidity.

During the first quarter of fiscal 2023, the Inflation Reduction Act (IRA) was signed into law. The IRA introduces a Corporate

Alternative Minimum Tax beginning in our fiscal 2024 and an excise tax on the repurchase of corporate stock starting after January 1,

2023. The IRA does not have a material impact on our financial results, including our annual estimated effective tax rates and

liquidity.