XML 57 R39.htm IDEA: XBRL DOCUMENT v3.20.4

Income Taxes (Tables)

12 Months Ended

Nov. 27, 2020

Income Tax Disclosure [Abstract]

Income before income taxes, domestic and foreign

Income before income taxes for fiscal 2020, 2019 and 2018 consisted of the following:

(in millions)						2020						2019						2018
Domestic						$	1,090					$	438					$	543
Foreign						3,086						2,767						2,251
Income before income taxes						$	4,176					$	3,205					$	2,794

Provision for (benefit from) income taxes, current and deferred

The provision for (benefit from) income taxes for fiscal 2020, 2019 and 2018 consisted of the following:

(in millions)						2020						2019						2018
Current:
United States federal						$	119					$	7					$	501
Foreign						222						211						140
State and local						79						31						29
Total current						420						249						670
Deferred:
United States federal						(123)						23						(466)
Foreign						(1,313)						(12)						(10)
State and local						(68)						(6)						9
Total deferred						(1,504)						5						(467)
Provision for (benefit from) income taxes						$	(1,084)					$	254					$	203

Reconciliation of provision for income taxes

Total income tax expense differs from the expected tax expense, computed by multiplying the U.S. federal statutory rate of 21% in both fiscal 2020 and 2019 and 22.2% in fiscal 2018 by income before income taxes, as a result of the following:

(in millions)						2020						2019						2018
Computed “expected” tax expense						$	877					$	673					$	620
State tax expense, net of federal benefit						10						24						25
Impacts of intra-entity IP transfers						(1,360)						—						—
Tax credits						(101)						(100)						(111)
Effects of non-U.S. operations						(337)						(224)						(384)
Stock-based compensation, net of tax deduction						(154)						(86)						(95)
Resolution of income tax examinations						(23)						(39)						(42)
Impacts of the U.S. Tax Act						—						3						186
Other						4						3						4
Provision for (benefit from) income taxes						$	(1,084)					$	254					$	203

Deferred tax assets and liabilities

The tax effects of the temporary differences that gave rise to significant portions of the deferred tax assets and liabilities as of November 27, 2020 and November 29, 2019 are presented below:

(in millions)						2020						2019
Deferred tax assets:
Intangible assets						$	1,368					$	5
Reserves and accruals						71						54
Stock-based compensation						92						107
Net operating loss carryforwards of acquired companies						54						137
Credit carryforwards						218						252
Capitalized expenses						292						45
Benefits relating to tax positions						44						47
Operating lease liabilities						131						—
Other						37						45
Total gross deferred tax assets						2,307						692
Valuation allowance						(276)						(245)
Total deferred tax assets						2,031						447
Deferred tax liabilities:
Depreciation and amortization						52						36
Undistributed earnings of foreign subsidiaries						51						52
Prepaid expenses						107						86
Acquired intangible assets						330						413
Operating lease right-of-use assets						131						—
Total deferred tax liabilities						671						587
Net deferred tax assets (liabilities)						$	1,360					$	(140)

Gross amount of unrecognized tax benefits

During fiscal 2020 and 2019, our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows:

(in millions)						2020						2019
Beginning balance						$	173					$	196
Gross increases in unrecognized tax benefits – prior year tax positions						14						15
Gross decreases in unrecognized tax benefits – prior year tax positions						—						(2)
Gross increases in unrecognized tax benefits – current year tax positions						44						18
Gross decreases in unrecognized tax benefits – current year tax positions						—						(3)
Settlements with taxing authorities						(11)						—
Lapse of statute of limitations						(23)						(50)
Foreign exchange gains and losses						4						(1)
Ending balance						$	201					$	173

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration