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Income Taxes
 6 Months Ended
May 05, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The benefit from income taxes was $116 million and $48 million for the fiscal quarter and two fiscal quarters ended May 5, 2024, respectively. The benefit from income taxes was primarily due to excess tax benefits from stock-based awards and a shift in the jurisdictional mix of income and expense, partially offset by income tax expense on operations.
The provision for income taxes was $235 million and $301 million for the fiscal quarter and two fiscal quarters ended April 30, 2023, respectively. The provision for income taxes was primarily driven by income before income taxes, partially offset by excess tax benefits from stock-based awards and the recognition of uncertain tax benefits as a result of lapses of statutes of limitations.
As of May 5, 2024, we had $6,178 million of gross unrecognized tax benefits and accrued interest and penalties. It is possible that our existing unrecognized tax benefits may change up to $702 million within the next 12 months as a result of lapses of statutes of limitations for certain audit periods, anticipated closures of audit examinations, and changes in balances related to tax positions to be taken during the current fiscal year.
Subsequent to the close of the fiscal quarter ended May 5, 2024, we completed an intra-group transfer of certain IP rights to the United States through a supply chain realignment. We estimate that we will recognize a discrete tax expense of up to $4.9 billion during the fiscal quarter ending August 4, 2024 from the establishment of a deferred tax liability as a result of the book and tax basis difference on these IP rights. We are continuing to evaluate the impact of the intra-group transfer on our estimated annual effective tax rate and income tax provision.