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Income Taxes (Tables) | 12 Months Ended
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Sep. 27, 2025
Income Tax Disclosure [Abstract] |
Provision for Income Taxes | The provision for income taxes for 2025, 2024 and 2023, consisted of the following (in millions):
| 2025 |  | 2024 |  | 2023
Federal: |  |  |  |  |
Current | $ | 11,487 |  |  | $ | 5,571 |  |  | $ | 9,445 |
Deferred | (1,804) |  |  | (3,080) |  |  | (3,644) |
Total | 9,683 |  |  | 2,491 |  |  | 5,801 |
State: |  |  |  |  |
Current | 1,680 |  |  | 1,726 |  |  | 1,570 |
Deferred | (139) |  |  | (298) |  |  | (49) |
Total | 1,541 |  |  | 1,428 |  |  | 1,521 |
Foreign: |  |  |  |  |
Current | 8,891 |  |  | 25,483 |  |  | 8,750 |
Deferred | 604 |  |  | 347 |  |  | 669 |
Total | 9,495 |  |  | 25,830 |  |  | 9,419 |
Provision for income taxes | $ | 20,719 |  |  | $ | 29,749 |  |  | $ | 16,741 |
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 2025, 2024 and 2023) to income before provision for income taxes for 2025, 2024 and 2023 is as follows (dollars in millions):
| 2025 |  | 2024 |  | 2023
Computed expected tax | $ | 27,873 |  |  | $ | 25,932 |  |  | $ | 23,885 |
Earnings of foreign subsidiaries | (8,120) |  |  | (5,311) |  |  | (5,744) |
Change in valuation allowance | 2,091 |  |  | — |  |  | — |
Research and development credit, net | (1,049) |  |  | (1,397) |  |  | (1,212) |
Impact of the State Aid Decision | (486) |  |  | 10,246 |  |  | — |
Other | 410 |  |  | 279 |  |  | (188) |
Provision for income taxes | $ | 20,719 |  |  | $ | 29,749 |  |  | $ | 16,741 |
Effective tax rate | 15.6 | % |  | 24.1 | % |  | 14.7 | %
Significant Components of Deferred Tax Assets and Liabilities | As of September 27, 2025 and September 28, 2024, the significant components of the Company’s deferred tax assets and liabilities were as follows (in millions):
| 2025 |  | 2024
Deferred tax assets: |  |  |
Capitalized research and development | $ | 15,041 |  |  | $ | 10,739 |
Tax credit carryforwards | 8,643 |  |  | 8,856 |
Accrued liabilities and other reserves | 6,154 |  |  | 6,114 |
Deferred revenue | 2,953 |  |  | 3,413 |
Lease liabilities | 2,577 |  |  | 2,410 |
Other | 3,049 |  |  | 3,341 |
Total deferred tax assets | 38,417 |  |  | 34,873 |
Less: Valuation allowance | (10,966) |  |  | (8,866) |
Total deferred tax assets, net | 27,451 |  |  | 26,007 |
Deferred tax liabilities: |  |  |
Depreciation | 3,276 |  |  | 2,551 |
Right-of-use assets | 2,300 |  |  | 2,125 |
Minimum tax on foreign earnings | 1,217 |  |  | 1,674 |
Other | 678 |  |  | 455 |
Total deferred tax liabilities | 7,471 |  |  | 6,805 |
Net deferred tax assets | $ | 19,980 |  |  | $ | 19,202 |
Aggregate Changes in Gross Unrecognized Tax Benefits | The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2025, 2024 and 2023 is as follows (in millions):
| 2025 |  | 2024 |  | 2023
Beginning balances | $ | 22,038 |  |  | $ | 19,454 |  |  | $ | 16,758 |
Increases related to tax positions taken during a prior year | 1,971 |  |  | 1,727 |  |  | 2,044 |
Decreases related to tax positions taken during a prior year | (71) |  |  | (386) |  |  | (1,463) |
Increases related to tax positions taken during the current year | 3,795 |  |  | 2,542 |  |  | 2,628 |
Decreases related to settlements with taxing authorities | (2,939) |  |  | (1,070) |  |  | (19) |
Decreases related to expiration of the statute of limitations | (1,552) |  |  | (229) |  |  | (494) |
Ending balances | $ | 23,242 |  |  | $ | 22,038 |  |  | $ | 19,454 |

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