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Fiscal Year Ended
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(In millions)
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September 1,
2022 |
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September 2,
2021 |
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September 3,
2020 |
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Consolidated Statement of Operations Data: | | | | | | | | | | | | | | | | | | | |
Revenue
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| | | $ | 30,758 | | | | | $ | 27,705 | | | | | $ | 21,435 | | |
Cost of goods sold
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| | | | 16,860 | | | | | | 17,282 | | | | | | 14,883 | | |
Gross margin
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| | | | 13,898 | | | | | | 10,423 | | | | | | 6,552 | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | |
Research and development
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| | | | 3,116 | | | | | | 2,663 | | | | | | 2,600 | | |
Selling, general and administrative
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| | | | 1,066 | | | | | | 894 | | | | | | 881 | | |
Restructure and asset impairments
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| | | | 48 | | | | | | 488 | | | | | | 60 | | |
Other operating (income) expense, net
|
| | | | (34) | | | | | | 95 | | | | | | 8 | | |
Operating income
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| | | | 9,702 | | | | | | 6,283 | | | | | | 3,003 | | |
Interest income (expense), net
|
| | | | (93) | | | | | | (146) | | | | | | (80) | | |
Other non-operating income (expense), net
|
| | | | (38) | | | | | | 81 | | | | | | 60 | | |
| | | | | 9,571 | | | | | | 6,218 | | | | | | 2,983 | | |
Income tax (provision) benefit
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| | | | (888) | | | | | | (394) | | | | | | (280) | | |
Equity in net income (loss) of equity method investees
|
| | | | 4 | | | | | | 37 | | | | | | 7 | | |
Net income
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| | | | 8,687 | | | | | | 5,861 | | | | | | 2,710 | | |
Net income attributable to noncontrolling interests
|
| | | | — | | | | | | — | | | | | | (23) | | |
Net income attributable to Micron
|
| | | $ | 8,687 | | | | | $ | 5,861 | | | | | $ | 2,687 | | |
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As of
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(In millions)
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September 1,
2022 |
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September 2,
2021 |
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September 3,
2020 |
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Balance Sheet Data: | | | | | | | | | | | | | | | | | | | |
Cash and equivalents and short-term investments
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| | | $ | 9,331 | | | | | $ | 8,633 | | | | | $ | 8,142 | | |
Other current assets
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| | | | 12,450 | | | | | | 11,274 | | | | | | 9,823 | | |
Long-term marketable investments
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| | | | 1,647 | | | | | | 1,765 | | | | | | 1,048 | | |
Total assets
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| | | | 66,283 | | | | | | 58,849 | | | | | | 53,678 | | |
Current debt
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| | | | 103 | | | | | | 155 | | | | | | 270 | | |
Long-term debt
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| | | | 6,803 | | | | | | 6,621 | | | | | | 6,373 | | |
Total shareholders’ equity
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| | | | 49,907 | | | | | | 43,933 | | | | | | 38,996 | | |
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As of September 1, 2022
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Actual
|
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As Adjusted
|
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(dollars in millions)
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Cash and equivalents
|
| | | $ | 8,262 | | | | | $ | | | |
Short-term investments
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| | | | 1,069 | | | | | | 1,069 | | |
Long-term marketable investments
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| | | | 1,647 | | | | | | 1,647 | | |
Cash and equivalents, short-term investments and long-term marketable
investments |
| | | $ | 10,978 | | | | | $ | | | |
Current debt:
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| | | $ | 103 | | | | | $ | 103 | | |
Long-term debt and finance lease obligations, excluding current portion: | | | | | | | | | | | | | |
% senior notes due 20 offered hereby
|
| | | $ | — | | | | | $ | | | |
Finance lease obligations
|
| | | | 783 | | | | | | 783 | | |
Term Loan A Credit Facility
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| | | | 1,187 | | | | | | 1,187 | | |
4.975% senior notes due 2026
|
| | | | 498 | | | | | | 498 | | |
4.185% senior notes due 2027(1)
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| | | | 806 | | | | | | 806 | | |
5.327% senior notes due 2029
|
| | | | 697 | | | | | | 697 | | |
4.663% senior notes due 2030
|
| | | | 846 | | | | | | 846 | | |
2.703% senior notes due 2032
|
| | | | 994 | | | | | | 994 | | |
3.366% senior notes due 2041
|
| | | | 496 | | | | | | 496 | | |
3.477% senior notes due 2051
|
| | | | 496 | | | | | | 496 | | |
Total long-term debt and finance lease obligations, excluding current portion
|
| | | | 6,803 | | | | | | | | |
Total shareholders’ equity
|
| | | | 49,907 | | | | | | | | |
Total capitalization
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| | | $ | 56,710 | | | | | $ | | | |
Underwriter
|
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Principal
Amount of Notes |
| |||
Morgan Stanley & Co. LLC
|
| | | $ | | | |
BofA Securities, Inc.
|
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Wells Fargo Securities, LLC
|
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Total
|
| | | $ | | | |
| | |
Paid by Micron
Technology, Inc. |
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Per Note
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| | | | % | | |
Total
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