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Income Taxes
9 Months Ended
Jul. 30, 2023
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 2023 and 2022 were 13.6 percent and 13.7 percent, respectively.
Our effective tax rates for the first nine months of fiscal 2023 and 2022 were 12.5 percent and 12.7 percent, respectively. The effective tax rate for the first nine months of fiscal 2023 was lower than the same period in the prior fiscal year primarily due to a reduction of deferred tax assets related to a new tax incentive in Singapore in fiscal 2022, offset in part by larger excess tax benefits from share-based compensation in fiscal 2022.