Income Taxes

9 Months Ended

May 01, 2021

The following table provides details of income taxes (in millions, except percentages):


	Three Months Ended						Nine Months Ended
	May 1, 2021			April 25, 2020			May 1, 2021			April 25, 2020
Income before provision for income taxes	$	3,591		$	3,444		$	9,527		$	10,664
Provision for income taxes	$	728		$	670		$	1,945		$	2,086
Effective tax rate	20.3		%	19.4		%	20.4		%	19.6		%

As of May 1, 2021, we had $2.5 billion of unrecognized tax benefits, of which $2.1 billion, if recognized, would favorably impact the effective tax rate. We regularly engage in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. We believe it is reasonably possible that certain federal, foreign, and state tax matters may be concluded in the next 12 months. Specific positions that may be resolved include issues involving transfer pricing and various other matters.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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