v3.26.1
Income Taxes
3 Months Ended
Jul. 03, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The following table summarizes our effective tax rate for the periods presented:
Three Months Ended
(In millions, except percentages)
July 3, 2026July 4, 2025
Income (loss) before income taxes$323 $300 
Income tax expense (benefit)$108 $165 
Effective tax rate33 %55 %
Our effective tax rate for the three months ended July 3, 2026 and July 4, 2025, differs from the federal statutory income tax rate primarily due to state taxes, changes in unrecognized tax benefits and related interest and penalties, foreign exchange impacts, stock-based compensation, and the U.S. taxation on foreign earnings. The effective tax rate decreased primarily due to foreign currency movements on the remeasurement of unrecognized tax benefits and deferred tax liabilities on intangible assets.