Equity

9 Months Ended

Jun. 03, 2021

Micron Shareholders’ Equity

Common Stock Repurchases: Our Board of Directors has authorized the discretionary repurchase of up to $10 billion of our outstanding common stock through open-market purchases, block trades, privately-negotiated transactions, derivative transactions, and/or pursuant to Rule 10b5-1 trading plans. The repurchase authorization has no expiration date, does not obligate us to acquire any common stock, and is subject to market conditions and our ongoing determination of the best use of available cash. In the third quarter and first nine months of 2021, we repurchased 1.7 million shares of our common stock for $150 million. In the third quarter and first nine months of 2020, we repurchased 0.9 million shares of our common stock for $40 million, and 2.8 million shares of our common stock for $134 million, respectively. Through June 3, 2021, we had repurchased an aggregate of $2.99 billion under the authorization. The shares were recorded as treasury stock.

Accumulated Other Comprehensive Income: Changes in accumulated other comprehensive income by component for the nine months ended June 3, 2021 were as follows:


	Gains (Losses) on Derivative Instruments		Pension Liability Adjustments		Unrealized Gains (Losses) on Investments		Cumulative Foreign Currency Translation Adjustment		Total

As of September 3, 2020	$	45	$	19	$	8	$	(1)	$	71
Other comprehensive income before reclassifications	(8)		—		(5)		1		(12)
Amount reclassified out of accumulated other comprehensive income	(30)		1		(3)		—		(32)
Tax effects	18		—		2		—		20
Other comprehensive income (loss)	(20)		1		(6)		1		(24)
As of June 3, 2021	$	25	$	20	$	2	$	—	$	47