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10-Q Filing

MICRON TECHNOLOGY INC CIK: 723125 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000723125-22-000072
Period End Date 20221130
Filing Date 20221222
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance mu-20221201_htm.xml
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Common Stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common Stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Cash and equivalents CashAndCashEquivalentsAtCarryingValue $9.57B USD Point-in-time
Cash and equivalents CashAndCashEquivalentsAtCarryingValue $8.26B USD Point-in-time
Common Stock, authorized shares (in shares) CommonStockSharesAuthorized 3.00B shares Point-in-time
Common Stock, authorized shares (in shares) CommonStockSharesAuthorized 3.00B shares Point-in-time
Short-term investments AvailableForSaleSecuritiesDebtSecuritiesCurrent $1.01B USD Point-in-time
Short-term investments AvailableForSaleSecuritiesDebtSecuritiesCurrent $1.07B USD Point-in-time
Common Stock, issued (in shares) CommonStockSharesIssued 1.23B shares Point-in-time
Common Stock, issued (in shares) CommonStockSharesIssued 1.23B shares Point-in-time
Receivables ReceivablesNetCurrent $5.13B USD Point-in-time
Receivables ReceivablesNetCurrent $3.32B USD Point-in-time
Inventories InventoryNet $8.36B USD Point-in-time
Inventories InventoryNet $6.66B USD Point-in-time
Common Stock, outstanding (in shares) CommonStockSharesOutstanding 1.09B shares Point-in-time
Common Stock, outstanding (in shares) CommonStockSharesOutstanding 1.09B shares Point-in-time
Treasury Stock, held (in shares) TreasuryStockCommonShares 141.00M shares Point-in-time
Treasury Stock, held (in shares) TreasuryStockCommonShares 132.00M shares Point-in-time
Other current assets OtherAssetsCurrent $657.00M USD Point-in-time
Other current assets OtherAssetsCurrent $663.00M USD Point-in-time
Total current assets AssetsCurrent $21.78B USD Point-in-time
Total current assets AssetsCurrent $22.92B USD Point-in-time
Long-term marketable investments AvailableForSaleSecuritiesDebtSecuritiesNoncurrent $1.65B USD Point-in-time
Long-term marketable investments AvailableForSaleSecuritiesDebtSecuritiesNoncurrent $1.43B USD Point-in-time
Property, plant, and equipment PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $38.55B USD Point-in-time
Property, plant, and equipment PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $39.34B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $693.00M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $678.00M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $428.00M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $421.00M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $672.00M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $702.00M USD Point-in-time
Goodwill Goodwill $1.23B USD Point-in-time
Goodwill Goodwill $1.23B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.28B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.17B USD Point-in-time
Total assets Assets $66.28B USD Point-in-time
Total assets Assets $67.87B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $6.09B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $5.44B USD Point-in-time
Current debt DebtCurrent $103.00M USD Point-in-time
Current debt DebtCurrent $171.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $1.35B USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $916.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $7.54B USD Point-in-time
Total current liabilities LiabilitiesCurrent $6.53B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $6.80B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $10.09B USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $625.00M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $610.00M USD Point-in-time
Noncurrent unearned government incentives UnearnedGovernmentIncentivesNoncurrent $516.00M USD Point-in-time
Noncurrent unearned government incentives UnearnedGovernmentIncentivesNoncurrent $589.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $808.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $835.00M USD Point-in-time
Total liabilities Liabilities $18.57B USD Point-in-time
Total liabilities Liabilities $16.38B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.10 par value, 3,000 shares authorized, 1,232 shares issued and 1,091 outstanding (1,226 shares issued and 1,094 outstanding as of September 1, 2022) CommonStockValue $123.00M USD Point-in-time
Common stock, $0.10 par value, 3,000 shares authorized, 1,232 shares issued and 1,091 outstanding (1,226 shares issued and 1,094 outstanding as of September 1, 2022) CommonStockValue $123.00M USD Point-in-time
Additional capital AdditionalPaidInCapitalCommonStock $10.34B USD Point-in-time
Additional capital AdditionalPaidInCapitalCommonStock $10.20B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $46.87B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $47.27B USD Point-in-time
Treasury stock, 141 shares held (132 shares as of September 1, 2022) TreasuryStockCommonValue $7.13B USD Point-in-time
Treasury stock, 141 shares held (132 shares as of September 1, 2022) TreasuryStockCommonValue $7.55B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-473.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-560.00M USD Point-in-time
Total equity StockholdersEquity $45.91B USD Point-in-time
Total equity StockholdersEquity $49.31B USD Point-in-time
Total equity StockholdersEquity $49.91B USD Point-in-time
Total equity StockholdersEquity $43.93B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $66.28B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $67.87B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $4.08B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $7.69B USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $3.19B USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $4.12B USD 1 Quarter
Gross margin GrossProfit $893.00M USD 1 Quarter
Gross margin GrossProfit $3.56B USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $712.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $849.00M USD 1 Quarter
Selling, general, and administrative SellingGeneralAndAdministrativeExpense $259.00M USD 1 Quarter
Selling, general, and administrative SellingGeneralAndAdministrativeExpense $251.00M USD 1 Quarter
Restructure and asset impairments RestructuringSettlementAndImpairmentProvisions $38.00M USD 1 Quarter
Restructure and asset impairments RestructuringSettlementAndImpairmentProvisions $13.00M USD 1 Quarter
Other operating (income) expense, net OtherOperatingIncomeExpenseNet $11.00M USD 1 Quarter
Other operating (income) expense, net OtherOperatingIncomeExpenseNet $75.00M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-209.00M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $2.63B USD 1 Quarter
Interest income InvestmentIncomeNet $10.00M USD 1 Quarter
Interest income InvestmentIncomeNet $88.00M USD 1 Quarter
Interest expense InterestExpense $51.00M USD 1 Quarter
Interest expense InterestExpense $45.00M USD 1 Quarter
Other non-operating income (expense), net OtherNonoperatingIncomeExpense $-75.00M USD 1 Quarter
Other non-operating income (expense), net OtherNonoperatingIncomeExpense $-4.00M USD 1 Quarter
Income (loss) before income taxes, net income (loss) attributable to noncontrolling interests, and equity in net income (loss) of equity method investees IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $2.52B USD 1 Quarter
Income (loss) before income taxes, net income (loss) attributable to noncontrolling interests, and equity in net income (loss) of equity method investees IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-176.00M USD 1 Quarter
Income tax (provision) benefit IncomeTaxExpenseBenefit $8.00M USD 1 Quarter
Income tax (provision) benefit IncomeTaxExpenseBenefit $219.00M USD 1 Quarter
Equity in net income (loss) of equity method investees IncomeLossFromEquityMethodInvestments $4.00M USD 1 Quarter
Equity in net income (loss) of equity method investees IncomeLossFromEquityMethodInvestments $-11.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-195.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $2.31B USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $2.06 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.18 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.18 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $2.04 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 1.09B shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 1.12B shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 1.09B shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 1.13B shares 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-195.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $2.31B USD 1 Quarter
Depreciation expense and amortization of intangible assets DepreciationDepletionAndAmortization $1.67B USD 1 Quarter
Depreciation expense and amortization of intangible assets DepreciationDepletionAndAmortization $1.92B USD 1 Quarter
Stock-based compensation ShareBasedCompensation $118.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $146.00M USD 1 Quarter
(Gain) loss on debt repurchases GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
(Gain) loss on debt repurchases GainsLossesOnExtinguishmentOfDebt $-83.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $-67.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $-1.84B USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.70B USD 1 Quarter
Inventories IncreaseDecreaseInInventories $344.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-1.06B USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-42.00M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $79.00M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $-18.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $943.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $3.94B USD 1 Quarter
Expenditures for property, plant, and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.45B USD 1 Quarter
Expenditures for property, plant, and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.27B USD 1 Quarter
Purchases of available-for-sale securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $90.00M USD 1 Quarter
Purchases of available-for-sale securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $528.00M USD 1 Quarter
Proceeds from maturities of available-for-sale securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $358.00M USD 1 Quarter
Proceeds from maturities of available-for-sale securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $313.00M USD 1 Quarter
Proceeds from sales of available-for-sale securities ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $124.00M USD 1 Quarter
Proceeds from sales of available-for-sale securities ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $4.00M USD 1 Quarter
Proceeds from government incentives ProceedsFromGovernmentIncentives $55.00M USD 1 Quarter
Proceeds from government incentives ProceedsFromGovernmentIncentives $2.00M USD 1 Quarter
Proceeds from sale of Lehi, Utah fab ProceedsFromSaleOfOtherAssetsInvestingActivities - USD 1 Quarter
Proceeds from sale of Lehi, Utah fab ProceedsFromSaleOfOtherAssetsInvestingActivities $893.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $77.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $91.00M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-2.27B USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-2.48B USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfLongTermDebt $3.35B USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfLongTermDebt $2.00B USD 1 Quarter
Repurchases of common stock - repurchase program PaymentsForRepurchaseOfCommonStock $259.00M USD 1 Quarter
Repurchases of common stock - repurchase program PaymentsForRepurchaseOfCommonStock $425.00M USD 1 Quarter
Payments of dividends to shareholders PaymentsOfDividendsCommonStock $112.00M USD 1 Quarter
Payments of dividends to shareholders PaymentsOfDividendsCommonStock $126.00M USD 1 Quarter
Payments on equipment purchase contracts PaymentsOnEquipmentPurchaseContracts $78.00M USD 1 Quarter
Payments on equipment purchase contracts PaymentsOnEquipmentPurchaseContracts $47.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebtAndCapitalSecurities $20.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebtAndCapitalSecurities $1.95B USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-115.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-99.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-513.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $2.63B USD 1 Quarter
Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-6.00M USD 1 Quarter
Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-6.00M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.30B USD 1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $934.00M USD 1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $9.64B USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.83B USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $8.34B USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $8.76B USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $9.64B USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.83B USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $8.34B USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $8.76B USD Point-in-time
Stockholders Equity 26 line items
Line Item Tag Value Unit Period
Balance (in shares) CommonStockSharesIssued 1.23B shares Point-in-time
Balance (in shares) CommonStockSharesIssued 1.23B shares Point-in-time
Balance of total equity StockholdersEquity $45.91B USD Point-in-time
Balance of total equity StockholdersEquity $49.31B USD Point-in-time
Balance of total equity StockholdersEquity $49.91B USD Point-in-time
Balance of total equity StockholdersEquity $43.93B USD Point-in-time
Net income (loss) NetIncomeLoss $-195.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $2.31B USD 1 Quarter
Other comprehensive income (loss), net OtherComprehensiveIncomeLossNetOfTax $87.00M USD 1 Quarter
Other comprehensive income (loss), net OtherComprehensiveIncomeLossNetOfTax $-93.00M USD 1 Quarter
Stock issued under stock plans StockIssuedDuringPeriodValueShareBasedCompensation $5.00M USD 1 Quarter
Stock issued under stock plans StockIssuedDuringPeriodValueShareBasedCompensation $7.00M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $118.00M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $146.00M USD 1 Quarter
Repurchase of stock - repurchase program TreasuryStockValueAcquiredCostMethod $425.00M USD 1 Quarter
Repurchase of stock - repurchase program TreasuryStockValueAcquiredCostMethod $259.00M USD 1 Quarter
Repurchase of stock - withholdings on employee equity awards StockRepurchasedAndRetiredDuringPeriodValue $95.00M USD 1 Quarter
Repurchase of stock - withholdings on employee equity awards StockRepurchasedAndRetiredDuringPeriodValue $102.00M USD 1 Quarter
Dividends and dividend equivalents declared ($0.115 per share) DividendsCommonStockCash $126.00M USD 1 Quarter
Cash dividends declared (per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Balance (in shares) CommonStockSharesIssued 1.23B shares Point-in-time
Balance (in shares) CommonStockSharesIssued 1.23B shares Point-in-time
Balance of total equity StockholdersEquity $45.91B USD Point-in-time
Balance of total equity StockholdersEquity $49.31B USD Point-in-time
Balance of total equity StockholdersEquity $49.91B USD Point-in-time
Balance of total equity StockholdersEquity $43.93B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-195.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $2.31B USD 1 Quarter
Gains (losses) on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-86.00M USD 1 Quarter
Gains (losses) on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $108.00M USD 1 Quarter
Pension liability adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.00M USD 1 Quarter
Pension liability adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax - USD 1 Quarter
Gains (losses) on investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-7.00M USD 1 Quarter
Gains (losses) on investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-19.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-3.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax - USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $87.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-93.00M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTax $2.21B USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTax $-108.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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