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Income Taxes (Tables) | 12 Months Ended
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Aug. 30, 2025
Income Taxes |
Components of Income from Continuing Operations | The components of operating income before income taxes are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year Ended
​ | ​ | August 30, | ​ | August 31, | ​ | August 26,
(in thousands) | ​ | 2025 | ​ | 2024 | ​ | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic | ​ | $ | 2,499,120 | ​ | $ | 2,663,148 | ​ | $ | 2,621,714
International | ​ |  | 635,212 | ​ |  | 673,982 | ​ |  | 545,900
​ | ​ | $ | 3,134,332 | ​ | $ | 3,337,130 |  | $ | 3,167,614
Provision for Income Tax Expense | The provision for income tax expense consisted of the following:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ | ​ | August 30, | ​ | August 31, | ​ | August 26,
(in thousands) |  | 2025 | ​ | 2024 | ​ | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current tax provision (benefit): |  | ​ |  |  | ​ |  |  | ​ |
Federal | ​ | $ | 610,076 | ​ | $ | 846,176 | ​ | $ | 491,338
State | ​ |  | 68,312 | ​ |  | 54,837 | ​ |  | 86,687
International | ​ |  | 182,148 | ​ |  | 193,794 | ​ |  | 154,907
Purchased tax credits | ​ | ​ | (250,698) | ​ | ​ | (368,870) | ​ | ​ | (68,037)
​ | ​ |  | 609,838 | ​ |  | 725,937 | ​ |  | 664,895
Deferred tax provision (benefit): | ​ |  |  | ​ |  |  | ​ |  |
Federal | ​ |  | 77,770 | ​ |  | (163,775) | ​ |  | 26,858
State | ​ |  | (4,463) | ​ |  | 12,264 | ​ |  | (21,847)
International | ​ |  | (28,217) | ​ |  | (10,616) | ​ |  | (24,126)
Purchased tax credits | ​ | ​ | (18,843) | ​ | ​ | 110,893 | ​ | ​ | (6,592)
​ | ​ |  | 26,247 | ​ |  | (51,234) | ​ |  | (25,707)
Income tax expense | ​ | $ | 636,085 | ​ | $ | 674,703 | ​ | $ | 639,188
Reconciliation of Provision for Income Taxes | A reconciliation of the provision for income taxes to the amount computed by applying the federal statutory tax rate to income before income taxes is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ |  | August 30, | ​ | August 31, | ​ | August 26, | ​
​ | ​ | 2025 | ​ | 2024 | ​ | 2023 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ |
Federal tax at statutory U.S. income tax rate |  | 21.0 | % | 21.0 | % | 21.0 | %
State income taxes, net |  | 1.6 | % | 1.6 | % | 1.6 | %
Share-based compensation |  | (1.5) | % | (1.9) | % | (2.3) | %
U.S. Tax on Non-U.S. Income (Subpart F) | ​ | 2.0 | % | 2.9 | % | 2.5 | %
U.S. Tax on Non-U.S. Income (GILTI) | ​ | 1.0 | % | 1.2 | % | 0.8 | %
Non-U.S. Permanent Differences | ​ | (0.8) | % | (1.3) | % | (1.4) | %
Non-U.S. Rate Differences | ​ | 1.1 | % | 1.1 | % | 0.4 | %
Foreign Tax Credits | ​ | (2.8) | % | (2.9) | % | (2.3) | %
Other |  | (1.3) | % | (1.5) | % | (0.1) | %
Effective tax rate |  | 20.3 | % | 20.2 | % | 20.2 | %
Significant Components of Company's Deferred Tax Assets and Liabilities | ​ Significant components of the Company's deferred tax assets and liabilities were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | August 30, |  | August 31,
(in thousands) | ​ | 2025 | ​ | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax assets: |  | ​ |  |  | ​ |
Net operating loss and credit carryforwards | ​ | $ | 44,815 | ​ | $ | 47,030
Accrued benefits | ​ |  | 99,628 | ​ |  | 86,119
Operating lease liabilities | ​ | ​ | 753,928 | ​ | ​ | 722,156
Federal credit carryforwards | ​ | ​ | 123,465 | ​ | ​ | 131,895
Other | ​ |  | 79,399 | ​ |  | 102,820
Total deferred tax assets | ​ |  | 1,101,235 | ​ |  | 1,090,020
Valuation allowances | ​ |  | (11,331) | ​ |  | (26,922)
Net deferred tax assets | ​ |  | 1,089,904 | ​ |  | 1,063,098
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ |  |  | ​ |  |
Property and equipment | ​ |  | (257,900) | ​ |  | (228,184)
Inventory | ​ |  | (510,242) | ​ |  | (499,022)
Operating lease assets | ​ | ​ | (682,685) | ​ | ​ | (660,949)
Other | ​ |  | (41,154) | ​ |  | (38,320)
Deferred tax liabilities | ​ |  | (1,491,981) | ​ |  | (1,426,475)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax liabilities | ​ | $ | (402,077) | ​ | $ | (363,377)
​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | August 30, |  | August 31,
(in thousands) | ​ | 2025 | ​ | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 37,986 | ​ | $ | 49,487
Additions based on tax positions related to the current year | ​ |  | 4,482 | ​ |  | 5,386
Additions for tax positions of prior years | ​ |  | 3,643 | ​ |  | 5,373
Reductions for tax positions of prior years | ​ |  | (5,118) | ​ |  | (8,595)
Reductions due to settlements | ​ |  | (13,150) | ​ |  | (8,600)
Reductions due to statute of limitations | ​ |  | (5,054) | ​ |  | (5,065)
Ending balance | ​ | $ | 22,789 | ​ | $ | 37,986

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