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10-Q Filing

MICRON TECHNOLOGY INC CIK: 723125 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0000723125-23-000077
Period End Date 20231130
Filing Date 20231221
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance mu-20231130_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
Cash and equivalents CashAndCashEquivalentsAtCarryingValue $8.58B USD Point-in-time
Common Stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Cash and equivalents CashAndCashEquivalentsAtCarryingValue $8.07B USD Point-in-time
Common Stock, authorized shares (in shares) CommonStockSharesAuthorized 3.00B shares Point-in-time
Short-term investments AvailableForSaleSecuritiesDebtSecuritiesCurrent $973.00M USD Point-in-time
Short-term investments AvailableForSaleSecuritiesDebtSecuritiesCurrent $1.02B USD Point-in-time
Common Stock, authorized shares (in shares) CommonStockSharesAuthorized 3.00B shares Point-in-time
Receivables ReceivablesNetCurrent $2.94B USD Point-in-time
Receivables ReceivablesNetCurrent $2.44B USD Point-in-time
Common Stock, issued (in shares) CommonStockSharesIssued 1.25B shares Point-in-time
Common Stock, issued (in shares) CommonStockSharesIssued 1.24B shares Point-in-time
Common Stock, outstanding (in shares) CommonStockSharesOutstanding 1.10B shares Point-in-time
Common Stock, outstanding (in shares) CommonStockSharesOutstanding 1.10B shares Point-in-time
Inventories InventoryNet $8.39B USD Point-in-time
Inventories InventoryNet $8.28B USD Point-in-time
Treasury Stock, held (in shares) TreasuryStockCommonShares 141.00M shares Point-in-time
Treasury Stock, held (in shares) TreasuryStockCommonShares 141.00M shares Point-in-time
Other current assets OtherAssetsCurrent $791.00M USD Point-in-time
Other current assets OtherAssetsCurrent $820.00M USD Point-in-time
Total current assets AssetsCurrent $21.24B USD Point-in-time
Total current assets AssetsCurrent $21.06B USD Point-in-time
Long-term marketable investments AvailableForSaleSecuritiesDebtSecuritiesNoncurrent $720.00M USD Point-in-time
Long-term marketable investments AvailableForSaleSecuritiesDebtSecuritiesNoncurrent $844.00M USD Point-in-time
Property, plant, and equipment PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $37.93B USD Point-in-time
Property, plant, and equipment PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $37.68B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $666.00M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $648.00M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $416.00M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $404.00M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $756.00M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $781.00M USD Point-in-time
Goodwill Goodwill $1.15B USD Point-in-time
Goodwill Goodwill $1.15B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.33B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.26B USD Point-in-time
Total assets Assets $63.78B USD Point-in-time
Total assets Assets $64.25B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $3.96B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $3.95B USD Point-in-time
Current debt DebtCurrent $908.00M USD Point-in-time
Current debt DebtCurrent $278.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $529.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $1.11B USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.76B USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.96B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $12.60B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $13.05B USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $603.00M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $601.00M USD Point-in-time
Noncurrent unearned government incentives UnearnedGovernmentAssistanceNoncurrent $727.00M USD Point-in-time
Noncurrent unearned government incentives UnearnedGovernmentAssistanceNoncurrent $705.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $987.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $1.03B USD Point-in-time
Total liabilities Liabilities $20.89B USD Point-in-time
Total liabilities Liabilities $20.13B 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, 1,245 shares issued and 1,104 outstanding (1,239 shares issued and 1,098 outstanding as of August 31, 2023) CommonStockValue $124.00M USD Point-in-time
Common stock, $0.10 par value, 3,000 shares authorized, 1,245 shares issued and 1,104 outstanding (1,239 shares issued and 1,098 outstanding as of August 31, 2023) CommonStockValue $124.00M USD Point-in-time
Additional capital AdditionalPaidInCapitalCommonStock $11.04B USD Point-in-time
Additional capital AdditionalPaidInCapitalCommonStock $11.22B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $40.82B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $39.36B USD Point-in-time
Treasury stock, 141 shares held (141 shares as of August 31, 2023) TreasuryStockCommonValue $7.55B USD Point-in-time
Treasury stock, 141 shares held (141 shares as of August 31, 2023) TreasuryStockCommonValue $7.55B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-312.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-260.00M USD Point-in-time
Total equity StockholdersEquity $49.31B USD Point-in-time
Total equity StockholdersEquity $44.12B USD Point-in-time
Total equity StockholdersEquity $42.88B USD Point-in-time
Total equity StockholdersEquity $49.91B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $64.25B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $63.78B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $4.08B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $4.73B USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $3.19B USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $4.76B USD 1 Quarter
Gross margin GrossProfit $893.00M USD 1 Quarter
Gross margin GrossProfit $-35.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $845.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $849.00M USD 1 Quarter
Selling, general, and administrative SellingGeneralAndAdministrativeExpense $263.00M USD 1 Quarter
Selling, general, and administrative SellingGeneralAndAdministrativeExpense $251.00M USD 1 Quarter
Restructure and asset impairments RestructuringSettlementAndImpairmentProvisions - USD 1 Quarter
Restructure and asset impairments RestructuringSettlementAndImpairmentProvisions $13.00M USD 1 Quarter
Other operating (income) expense, net OtherOperatingIncomeExpenseNet $15.00M USD 1 Quarter
Other operating (income) expense, net OtherOperatingIncomeExpenseNet $11.00M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-1.13B USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-209.00M USD 1 Quarter
Interest income InvestmentIncomeNet $88.00M USD 1 Quarter
Interest income InvestmentIncomeNet $132.00M USD 1 Quarter
Interest expense InterestExpense $51.00M USD 1 Quarter
Interest expense InterestExpense $132.00M USD 1 Quarter
Other non-operating income (expense), net OtherNonoperatingIncomeExpense $-4.00M USD 1 Quarter
Other non-operating income (expense), net OtherNonoperatingIncomeExpense $-27.00M USD 1 Quarter
Income (loss) before income taxes and equity in net income (loss) of equity method investees IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-176.00M USD 1 Quarter
Income (loss) before income taxes and equity in net income (loss) of equity method investees IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-1.16B USD 1 Quarter
Income tax (provision) benefit IncomeTaxExpenseBenefit $8.00M USD 1 Quarter
Income tax (provision) benefit IncomeTaxExpenseBenefit $73.00M USD 1 Quarter
Equity in net income (loss) of equity method investees IncomeLossFromEquityMethodInvestments $-11.00M USD 1 Quarter
Equity in net income (loss) of equity method investees IncomeLossFromEquityMethodInvestments $-6.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-195.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-1.23B USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.18 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-1.12 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.18 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-1.12 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 1.09B shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 1.10B shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 1.09B shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 1.10B shares 1 Quarter
Cash Flow Statement 56 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-195.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-1.23B USD 1 Quarter
Depreciation expense and amortization of intangible assets DepreciationDepletionAndAmortization $1.92B USD 1 Quarter
Depreciation expense and amortization of intangible assets DepreciationDepletionAndAmortization $1.92B USD 1 Quarter
Stock-based compensation ShareBasedCompensation $188.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $146.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $-1.84B USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $501.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.70B USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-111.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-630.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $271.00M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $-430.00M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $579.00M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $72.00M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $-14.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $943.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $1.40B USD 1 Quarter
Expenditures for property, plant, and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.80B USD 1 Quarter
Expenditures for property, plant, and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.45B USD 1 Quarter
Purchases of available-for-sale securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $199.00M USD 1 Quarter
Purchases of available-for-sale securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $90.00M USD 1 Quarter
Proceeds from maturities and sales of available-for-sale securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $374.00M USD 1 Quarter
Proceeds from maturities and sales of available-for-sale securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $362.00M USD 1 Quarter
Proceeds from government incentives ProceedsFromGovernmentAssistance $2.00M USD 1 Quarter
Proceeds from government incentives ProceedsFromGovernmentAssistance $85.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $91.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $22.00M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-1.56B USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-2.27B USD 1 Quarter
Payments of dividends to shareholders PaymentsOfDividendsCommonStock $126.00M USD 1 Quarter
Payments of dividends to shareholders PaymentsOfDividendsCommonStock $129.00M USD 1 Quarter
Payments on equipment purchase contracts PaymentsOnEquipmentPurchaseContracts $47.00M USD 1 Quarter
Payments on equipment purchase contracts PaymentsOnEquipmentPurchaseContracts $56.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebtAndCapitalSecurities $53.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebtAndCapitalSecurities $20.00M USD 1 Quarter
Repurchases of common stock - repurchase program PaymentsForRepurchaseOfCommonStock $425.00M USD 1 Quarter
Repurchases of common stock - repurchase program PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfLongTermDebt $3.35B USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-114.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-99.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-352.00M 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 $-1.00M 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 $-510.00M USD 1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $8.66B 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 $8.15B USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $9.64B USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $8.66B 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 $8.15B USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $9.64B USD Point-in-time
Stockholders Equity 27 line items
Line Item Tag Value Unit Period
Balance (in shares) CommonStockSharesIssued 1.25B shares Point-in-time
Balance (in shares) CommonStockSharesIssued 1.24B shares Point-in-time
Balance of total equity StockholdersEquity $49.31B USD Point-in-time
Balance of total equity StockholdersEquity $44.12B USD Point-in-time
Balance of total equity StockholdersEquity $42.88B USD Point-in-time
Balance of total equity StockholdersEquity $49.91B USD Point-in-time
Net income (loss) NetIncomeLoss $-195.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-1.23B USD 1 Quarter
Other comprehensive income (loss), net OtherComprehensiveIncomeLossNetOfTax $52.00M USD 1 Quarter
Other comprehensive income (loss), net OtherComprehensiveIncomeLossNetOfTax $87.00M USD 1 Quarter
Stock issued under stock plans StockIssuedDuringPeriodValueShareBasedCompensation $9.00M USD 1 Quarter
Stock issued under stock plans StockIssuedDuringPeriodValueShareBasedCompensation $7.00M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $146.00M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $188.00M USD 1 Quarter
Repurchase of stock - repurchase program TreasuryStockValueAcquiredCostMethod $425.00M USD 1 Quarter
Repurchase of stock - withholdings on employee equity awards StockRepurchasedAndRetiredDuringPeriodValue $121.00M USD 1 Quarter
Repurchase of stock - withholdings on employee equity awards StockRepurchasedAndRetiredDuringPeriodValue $95.00M USD 1 Quarter
Dividends and dividend equivalents declared (per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Dividends and dividend equivalents declared (per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Dividends and dividend equivalents declared DividendsCommonStockCash $129.00M USD 1 Quarter
Dividends and dividend equivalents declared DividendsCommonStockCash $126.00M USD 1 Quarter
Balance (in shares) CommonStockSharesIssued 1.25B shares Point-in-time
Balance (in shares) CommonStockSharesIssued 1.24B shares Point-in-time
Balance of total equity StockholdersEquity $49.31B USD Point-in-time
Balance of total equity StockholdersEquity $44.12B USD Point-in-time
Balance of total equity StockholdersEquity $42.88B USD Point-in-time
Balance of total equity StockholdersEquity $49.91B 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 $-1.23B USD 1 Quarter
Gains (losses) on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $108.00M USD 1 Quarter
Gains (losses) on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $44.00M USD 1 Quarter
Unrealized gains (losses) on investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-19.00M USD 1 Quarter
Unrealized gains (losses) on investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $7.00M USD 1 Quarter
Pension liability adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.00M USD 1 Quarter
Pension liability adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-2.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-3.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $52.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $87.00M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTax $-1.18B 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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