INTC · 10-Q · 2026Q3 · Full report
Income Tax Rate Changes
INTEL CORP · 2026-10-30 · Importance 45 · Surprise 64 · In source text
For the three months ended September 26, 2026, Intel’s effective tax rate was 11.6%, compared with 6.6% in the year-earlier quarter; the company attributed the higher tax provision primarily to increased U.S. profitability. For the nine months ended September 26, 2026, the effective tax rate was negative 7.7%, compared with 70.5% in the prior-year period, and the tax provision decreased primarily because of increased share-based compensation deductions. Intel reported a $10.783 billion pretax loss for the nine-month 2026 period and said it could not benefit from its current-year domestic pretax loss because of a domestic valuation allowance. Tax receivables associated primarily with AMIC claims were $7.4 billion in other current assets and $2.5 billion in other long-term assets as of September 26, 2026.
Key facts
- Intel's income before taxes was a loss of $10.783 billion for the nine months ended September 26, 2026, versus income of $1.219 billion for the nine months ended September 27, 2025. source
- Intel's income before taxes was $3.982 billion for the three months ended September 26, 2026, versus $4.574 billion for the three months ended September 27, 2025. source
- Intel's effective tax rate was 11.6% for the three months ended September 26, 2026, versus 6.6% for the three months ended September 27, 2025. source
- Intel's effective tax rate was negative 7.7% for the nine months ended September 26, 2026, versus 70.5% for the nine months ended September 27, 2025. source
- Intel reported tax receivables of $7.4 billion at September 26, 2026 and $7.6 billion at December 27, 2025, primarily associated with AMIC claims. source
- Intel could not benefit from its current-year domestic loss before taxes in the periods presented because of the domestic valuation allowance. source
- Intel's tax provision increased in Q3 2026 compared with Q3 2025, primarily because of increased U.S. profitability. source
- Intel's tax provision decreased in the first nine months of 2026 compared with the first nine months of 2025, primarily because of increased share-based compensation deductions. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | negative | realized | -1.2% | Intel's effective tax rate was 11.6% for the three months ended September 26, 2026, versus 6.6% for the three months ended September 27,… |
| net_income | negative | realized | — | Intel's income before taxes was a loss of $10.783 billion for the nine months ended September 26, 2026, versus income of $1.219 billion… |
| net_income | positive | realized | — | Intel's effective tax rate was negative 7.7% for the nine months ended September 26, 2026, versus 70.5% for the nine months ended… |