Income Taxes

3 Months Ended

Nov. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Effective Income Tax Rate

The U.S. federal statutory income tax rate and the Company's effective income tax rate are as follows:

	Three months ended
	November 30, 2022		November 30, 2021
U.S. federal statutory income tax rate	21.0	%	21.0	%
Effective income tax rate	25.6	%	23.9	%

The effective income tax rate differed for the three months ended November 30, 2022, compared to the three months ended November 30, 2021, primarily due to increased losses in tax jurisdictions with minimal related income tax benefit, driven in part by restructuring charges, for the three months ended November 30, 2022.

The effective income tax rate differed from the U.S. federal statutory income tax rate of 21.0% during the three months ended November 30, 2022 and 2021, primarily due to: (i) losses in tax jurisdictions with existing valuation allowances and (ii) tax incentives granted to sites in China, Malaysia, Singapore and Vietnam.