XML 54 R31.htm IDEA: XBRL DOCUMENT
v3.24.3

Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 28, 2024
Income Tax Disclosure [Abstract] |
Provision for Income Taxes | The provision for income taxes for 2024, 2023 and 2022, consisted of the following (in millions):
| 2024 |  | 2023 |  | 2022
Federal: |  |  |  |  |
Current | $ | 5,571 |  |  | $ | 9,445 |  |  | $ | 7,890 |
Deferred | (3,080) |  |  | (3,644) |  |  | (2,265) |
Total | 2,491 |  |  | 5,801 |  |  | 5,625 |
State: |  |  |  |  |
Current | 1,726 |  |  | 1,570 |  |  | 1,519 |
Deferred | (298) |  |  | (49) |  |  | 84 |
Total | 1,428 |  |  | 1,521 |  |  | 1,603 |
Foreign: |  |  |  |  |
Current | 25,483 |  |  | 8,750 |  |  | 8,996 |
Deferred | 347 |  |  | 669 |  |  | 3,076 |
Total | 25,830 |  |  | 9,419 |  |  | 12,072 |
Provision for income taxes | $ | 29,749 |  |  | $ | 16,741 |  |  | $ | 19,300 |
Reconciliation of Provision for Income Taxes to Amount Computed by Applying the Statutory Federal Income Tax Rate to Income Before Provision for Income Taxes | A reconciliation of the provision for income taxes to the amount computed by applying the statutory federal income tax rate (21% in 2024, 2023 and 2022) to income before provision for income taxes for 2024, 2023 and 2022, is as follows (dollars in millions):
| 2024 |  | 2023 |  | 2022
Computed expected tax | $ | 25,932 |  |  | $ | 23,885 |  |  | $ | 25,012 |
State taxes, net of federal effect | 1,162 |  |  | 1,124 |  |  | 1,518 |
Impact of the State Aid Decision | 10,246 |  |  | — |  |  | — |
Earnings of foreign subsidiaries | (5,311) |  |  | (5,744) |  |  | (4,366) |
Research and development credit, net | (1,397) |  |  | (1,212) |  |  | (1,153) |
Excess tax benefits from equity awards | (893) |  |  | (1,120) |  |  | (1,871) |
Other | 10 |  |  | (192) |  |  | 160 |
Provision for income taxes | $ | 29,749 |  |  | $ | 16,741 |  |  | $ | 19,300 |
Effective tax rate | 24.1 | % |  | 14.7 | % |  | 16.2 | %
Significant Components of Deferred Tax Assets and Liabilities | As of September 28, 2024 and September 30, 2023, the significant components of the Company’s deferred tax assets and liabilities were (in millions):
| 2024 |  | 2023
Deferred tax assets: |  |  |
Capitalized research and development | $ | 10,739 |  |  | $ | 6,294 |
Tax credit carryforwards | 8,856 |  |  | 8,302 |
Accrued liabilities and other reserves | 6,114 |  |  | 6,365 |
Deferred revenue | 3,413 |  |  | 4,571 |
Lease liabilities | 2,410 |  |  | 2,421 |
Unrealized losses | 1,173 |  |  | 2,447 |
Other | 2,168 |  |  | 2,343 |
Total deferred tax assets | 34,873 |  |  | 32,743 |
Less: Valuation allowance | (8,866) |  |  | (8,374) |
Total deferred tax assets, net | 26,007 |  |  | 24,369 |
Deferred tax liabilities: |  |  |
Depreciation | 2,551 |  |  | 1,998 |
Right-of-use assets | 2,125 |  |  | 2,179 |
Minimum tax on foreign earnings | 1,674 |  |  | 1,940 |
Unrealized gains | — |  |  | 511 |
Other | 455 |  |  | 490 |
Total deferred tax liabilities | 6,805 |  |  | 7,118 |
Net deferred tax assets | $ | 19,202 |  |  | $ | 17,251 |
Aggregate Changes in Gross Unrecognized Tax Benefits | The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2024, 2023 and 2022, is as follows (in millions):
| 2024 |  | 2023 |  | 2022
Beginning balances | $ | 19,454 |  |  | $ | 16,758 |  |  | $ | 15,477 |
Increases related to tax positions taken during a prior year | 1,727 |  |  | 2,044 |  |  | 2,284 |
Decreases related to tax positions taken during a prior year | (386) |  |  | (1,463) |  |  | (1,982) |
Increases related to tax positions taken during the current year | 2,542 |  |  | 2,628 |  |  | 1,936 |
Decreases related to settlements with taxing authorities | (1,070) |  |  | (19) |  |  | (28) |
Decreases related to expiration of the statute of limitations | (229) |  |  | (494) |  |  | (929) |
Ending balances | $ | 22,038 |  |  | $ | 19,454 |  |  | $ | 16,758 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration