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Income Taxes | 6 Months Ended
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Feb. 28, 2019
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes On December 22, 2017, the United States enacted comprehensive tax legislation, commonly referred to as the Tax Cuts and Jobs Act (the "Tax Act"), which imposed a one-time transition tax in 2018 (the "Repatriation Tax") and, beginning in 2019, created a new minimum tax on certain foreign earnings (the "Foreign Minimum Tax"). SEC Staff Accounting Bulletin No. 118 ("SAB 118") allows the use of provisional amounts (reasonable estimates) if the analyses of the impacts of the Tax Act have not been completed when financial statements are issued. During the first quarter of 2019, we finalized the computations of the income tax effects of the Tax Act. As such, in accordance with SAB 118, our accounting for the effects of the Tax Act is complete. Our income tax provision consisted of the following:
| Quarter ended |  | Six months ended
| February 28, 2019 |  | March 1, 2018 |  | February 28, 2019 |  | March 1, 2018
Income tax (provision) benefit, excluding items below | $ | (216 | ) |  | $ | 5 |  |  | $ | (594 | ) |  | $ | (83 | )
Utilization of and other changes in net deferred tax assets of MMJ, MMT, and MTTW | (78 | ) |  | (17 | ) |  | (130 | ) |  | (43 | )
Repatriation Tax, net of adjustments related to uncertain tax positions | 14 |  |  | (1,335 | ) |  | (33 | ) |  | (1,335 | )
Release of the valuation allowance on the net deferred tax assets of our U.S. operations | — |  |  | 1,337 |  |  | — |  |  | 1,337 |
Remeasurement of deferred tax assets and liabilities reflecting the lower U.S. corporate tax rates | — |  |  | (133 | ) |  | — |  |  | (133 | )
| $ | (280 | ) |  | $ | (143 | ) |  | $ | (757 | ) |  | $ | (257 | )
As of February 28, 2019, we had gross unrecognized income tax benefits of $438 million, substantially all of which would affect our effective tax rate in the future, if recognized. The amount accrued for interest and penalties related to uncertain tax positions was not material for any period presented. We operate in a number of tax jurisdictions outside the United States, including Singapore, where we have tax incentive arrangements, which expire in whole or in part at various dates through 2034, that are conditional, in part, upon meeting certain business operations and employment thresholds. The effect of tax incentive arrangements reduced our tax provision by $244 million (benefiting our diluted earnings per share by $0.21) and $671 million ($0.58 per diluted share) for the second quarter and first six months of 2019, respectively, and by $436 million ($0.35 per diluted share) and $827 million ($0.67 per diluted share) for the second quarter and first six months of 2018, respectively.

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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