Income Taxes

3 Months Ended

Nov. 27, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Our income tax (provision) benefit consisted of the following:

Three months ended	November 27, 2025			November 28, 2024
Income before taxes	$	6,061		$	2,152
Income tax (provision) benefit	(829)			(283)
Effective tax rate	13.7		%	13.2		%

The change in our effective tax rate for the first quarter of 2026 as compared to the first quarter of 2025 was primarily due to the 15% minimum tax Pillar Two Model Rules (“Pillar Two”). Singapore enacted legislation to implement Pillar Two, effective for us in 2026, which largely offsets the benefit from our Singapore tax incentive arrangements.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted, introducing broad changes to the U.S. tax code, including modifications to corporate and international tax provisions, which primarily are effective for us beginning in 2026 and 2027. The aggregate impact of the OBBBA remains uncertain. We will continue to monitor future developments, including regulatory guidance and interpretations, which could have a material impact on our income tax provision.

Other noncurrent liabilities included $1.16 billion and $648 million related to income taxes payable as of November 27, 2025 and August 28, 2025, respectively.