Equity

12 Months Ended

Sep. 02, 2021

Equity [Abstract]

Equity

Equity

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. We repurchased 15.6 million shares of our common stock for $1.20 billion in 2021 and 3.6 million shares for $176 million in 2020. Through September 2, 2021, we had repurchased an aggregate of $4.04 billion under the authorization. Amounts repurchased are included in treasury stock.

Dividends: On August 2, 2021, we announced that our Board of Directors had declared a quarterly dividend of $0.10 per share, payable in cash on October 18, 2021, to shareholders of record as of the close of business on October 1, 2021.

Accumulated Other Comprehensive Income: Changes in accumulated other comprehensive income by component for the year ended September 2, 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	(52)		8		(6)		2		(48)
Amount reclassified out of accumulated other comprehensive income	(41)		(1)		(3)		—		(45)
Tax effects	26		(4)		2		—		24
Other comprehensive income (loss)	(67)		3		(7)		2		(69)
As of September 2, 2021	$	(22)	$	22	$	1	$	1	$	2