Income Taxes |
3 Months Ended |
|---|---|
Nov. 29, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes Our effective tax rate was 34.8% and 21.9% for the three months ended November 29, 2025 and November 30, 2024, respectively. The change in our effective tax rate for the three months ended November 29, 2025 compared to the three months ended November 30, 2024 was driven primarily by an excess tax detriment from stock-based compensation in the current year and the change from a pre-tax loss in the prior year to a pre-tax income in the current year. As of November 29, 2025, $8.0 million of U.S. federal income taxes receivable was included in prepaid expenses and other current assets on the Consolidated Balance Sheets. Comparatively, as of August 30, 2025, $7.3 million of U.S. federal income taxes receivable was included in prepaid expenses and other current assets on the Consolidated Balance Sheets. We file a U.S. Federal tax return, as well as returns in various international and state jurisdictions. As of November 29, 2025, our U.S. Federal returns from Fiscal 2022 to present are subject to review by the Internal Revenue Service. With limited exceptions, U.S. state returns from Fiscal 2021 to present continue to be subject to review by state taxing jurisdictions. We believe we have adequately reserved for our exposure to potential additional payments for uncertain tax positions in our liability for unrecognized tax benefits. Recent Tax Legislation On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was signed into law, which included various provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act and restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions that became effective in Fiscal 2025 and others implemented through Fiscal 2027. In Fiscal 2026, the OBBBA could have a more significant impact, particularly related to the reinstatement of 100% bonus depreciation, expensing of previously capitalized and unamortized U.S. research and development costs, and changes to interest deductibility. We will continue to assess the implications of the OBBBA. During the three months ended November 29, 2025, none of the relevant provisions of the OBBBA had a significant impact on our consolidated financial statements. |