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Income Taxes | 6 Months Ended
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Mar. 30, 2019
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Our effective tax rate was 18.5% and 25.3% for the second quarter of fiscal 2019 and 2018, respectively, and 20.9% and (54.0)% for the first six months of fiscal 2019 and 2018, respectively. The effective tax rates for the second quarter and first six months of fiscal 2019 include the impact of state taxes, a deferred tax benefit resulting from final transition tax regulations released in the second quarter of fiscal 2019 and a tax reserves benefit due to expirations of applicable statutes of limitations. The remeasurement of deferred income taxes at newly enacted tax rates as a result of the “Tax Cuts and Jobs Act” (the “Tax Act”) resulted in a (2.2)% and (79.3)% impact on the effective tax rate in the second quarter and first six months of fiscal 2018, respectively. Additionally, the effective tax rates for the second quarter and first six months of fiscal 2018 were impacted by excess tax benefits associated with share-based payments to employees, the domestic production deduction, the non-deductible impairment related to the anticipated sale of non-protein businesses held for sale, and state taxes. Unrecognized tax benefits were $303 million and $308 million, at March 30, 2019 and September 29, 2018, respectively. We estimate that during the next twelve months it is reasonably possible that unrecognized tax benefits could decrease by approximately $60 million primarily due to expiration of statutes of limitations in various jurisdictions and settlements with taxing authorities.

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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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