$MU
Micron Technology Inc Stock $mu

$mu Overview Financials Valuation SEC Filings Company Website

2015 Q4 Form 10-Q Financial Statement

#000072312516000146 Filed on January 08, 2016

Income Statement

Concept	2015 Q4	2014 Q4
Revenue	$3.350B	$4.573B
YoY Change	-26.74%	13.14%
Cost Of Revenue	$2.501B	$2.935B
YoY Change	-14.79%	6.3%
Gross Profit	$849.0M	$1.638B
YoY Change	-48.17%	27.87%
Gross Profit Margin	25.34%	35.82%
Selling, General & Admin	$179.0M	$193.0M
YoY Change	-7.25%	9.66%
% of Gross Profit	21.08%	11.78%
Research & Development	$421.0M	$376.0M
YoY Change	11.97%	17.5%
% of Gross Profit	49.59%	22.95%
Depreciation & Amortization	$706.0M	$643.0M
YoY Change	9.8%	37.39%
% of Gross Profit	83.16%	39.26%
Operating Expenses	$600.0M	$559.0M
YoY Change	7.33%	12.7%
Operating Profit	$232.0M	$1.079B
YoY Change	-78.5%	95.83%
Interest Expense	$96.00M	-$104.0M
YoY Change	-192.31%	-202.97%
% of Operating Profit	41.38%	-9.64%
Other Income/Expense, Net	-$4.000M	$2.000M
YoY Change	-300.0%	-102.5%
Pretax Income	$143.0M	$953.0M
YoY Change	-84.99%	154.13%
Income Tax	-$4.000M	$75.00M
% Of Pretax Income	-2.8%	7.87%
Net Earnings	$206.0M	$1.003B
YoY Change	-79.46%	180.17%
Net Earnings / Revenue	6.15%	21.93%
Basic Earnings Per Share	$0.20
Diluted Earnings Per Share	$0.19	$839.3K
COMMON SHARES
Basic Shares Outstanding	1.035B shares	1.073B shares
Diluted Shares Outstanding	1.085B shares

Balance Sheet

Concept	2015 Q4	2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$3.641B	$4.230B
YoY Change	-13.92%	9.3%
Cash & Equivalents	$2.605B	$3.764B
Short-Term Investments	$1.036B	$466.0M
Other Short-Term Assets	$211.0M	$331.0M
YoY Change	-36.25%	59.9%
Inventory	$2.435B	$2.448B
Prepaid Expenses
Receivables	$1.939B	$2.301B
Other Receivables	$284.0M	$362.0M
Total Short-Term Assets	$8.510B	$9.672B
YoY Change	-12.01%	3.23%
LONG-TERM ASSETS
Property, Plant & Equipment	$11.06B	$9.132B
YoY Change	21.11%	18.09%
Goodwill
YoY Change
Intangibles	$536.0M
YoY Change
Long-Term Investments	$1.351B	$1.080B
YoY Change	25.09%	120.41%
Other Assets	$565.0M	$446.0M
YoY Change	26.68%	-9.72%
Total Long-Term Assets	$15.88B	$12.87B
YoY Change	23.37%	23.45%
TOTAL ASSETS
Total Short-Term Assets	$8.510B	$9.672B
Total Long-Term Assets	$15.88B	$12.87B
Total Assets	$24.39B	$22.54B
YoY Change	8.19%	13.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.014B	$961.0M
YoY Change	5.52%	-17.44%
Accrued Expenses	$335.0M	$364.0M
YoY Change	-7.97%	8.01%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$1.051B	$1.168B
YoY Change	-10.02%	-24.3%
Total Short-Term Liabilities	$4.025B	$4.419B
YoY Change	-8.92%	-2.08%
LONG-TERM LIABILITIES
Long-Term Debt	$6.368B	$4.661B
YoY Change	36.62%	9.41%
Other Long-Term Liabilities	$720.0M	$969.0M
YoY Change	-25.7%	10.74%
Total Long-Term Liabilities	$720.0M	$969.0M
YoY Change	-25.7%	10.74%
TOTAL LIABILITIES
Total Short-Term Liabilities	$4.025B	$4.419B
Total Long-Term Liabilities	$720.0M	$969.0M
Total Liabilities	$11.07B	$9.996B
YoY Change	10.75%	3.61%
SHAREHOLDERS EQUITY
Retained Earnings	$5.788B	$3.713B
YoY Change	55.88%	2846.83%
Common Stock	$7.609B	$7.930B
YoY Change	-4.05%	-12.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$1.006B
YoY Change
Treasury Stock Shares	52.00M shares
Shareholders Equity	$12.30B	$11.68B
YoY Change
Total Liabilities & Shareholders Equity	$24.39B	$22.54B
YoY Change	8.19%	13.88%

Cashflow Statement

Concept	2015 Q4	2014 Q4
OPERATING ACTIVITIES
Net Income	$206.0M	$1.003B
YoY Change	-79.46%	180.17%
Depreciation, Depletion And Amortization	$706.0M	$643.0M
YoY Change	9.8%	37.39%
Cash From Operating Activities	$1.120B	$1.592B
YoY Change	-29.65%	5.64%
INVESTING ACTIVITIES
Capital Expenditures	$990.0M	-$669.0M
YoY Change	-247.98%	-200.0%
Acquisitions
YoY Change
Other Investing Activities	$158.0M	-$407.0M
YoY Change	-138.82%	1303.45%
Cash From Investing Activities	-$660.0M	-$1.076B
YoY Change	-38.66%	781.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$135.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-140.0M	-806.0M
YoY Change	-82.63%	36.15%
NET CHANGE
Cash From Operating Activities	1.120B	1.592B
Cash From Investing Activities	-660.0M	-1.076B
Cash From Financing Activities	-140.0M	-806.0M
Net Change In Cash	320.0M	-290.0M
YoY Change	-210.34%	-136.57%
FREE CASH FLOW
Cash From Operating Activities	$1.120B	$1.592B
Capital Expenditures	$990.0M	-$669.0M
Free Cash Flow	$130.0M	$2.261B
YoY Change	-94.25%	169.81%

Facts In Submission

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CY2015Q4	dei	Document Period End Date DocumentPeriodEndDate	2015-12-03
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CY2015Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	536000000	USD
	us-gaap	Interest Expense InterestExpense	90000000	USD
CY2015Q4	us-gaap	Interest Expense InterestExpense	96000000	USD
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CY2015Q4	us-gaap	Inventory Net InventoryNet	2435000000	USD
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CY2015Q4	us-gaap	Inventory Raw Materials And Supplies Net Of Reserves InventoryRawMaterialsAndSuppliesNetOfReserves	234000000	USD
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	us-gaap	Investment Income Net InvestmentIncomeNet	7000000	USD
CY2015Q4	us-gaap	Investment Income Net InvestmentIncomeNet	11000000	USD
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CY2015Q4	us-gaap	Liabilities Liabilities	11071000000	USD
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CY2015Q3	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	6252000000	USD
CY2015Q4	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	6326000000	USD
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CY2015Q4	us-gaap	Minority Interest MinorityInterest	974000000	USD
	us-gaap	Minority Interest Decrease From Distributions To Noncontrolling Interest Holders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	6000000	USD
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	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-806000000	USD
CY2015Q4	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-140000000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-1076000000	USD
CY2015Q4	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-660000000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	1592000000	USD
CY2015Q4	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	1120000000	USD
	us-gaap	Net Income Loss NetIncomeLoss	1003000000	USD
CY2015Q4	us-gaap	Net Income Loss NetIncomeLoss	206000000	USD
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CY2015Q4	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	0	USD
	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	1002000000	USD
CY2015Q4	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	206000000	USD
	us-gaap	Noncontrolling Interest Increase From Subsidiary Equity Issuance NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	20000000	USD
CY2015Q4	us-gaap	Noncontrolling Interest Increase From Subsidiary Equity Issuance NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	37000000	USD
CY2015Q4	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	4
	us-gaap	Operating Income Loss OperatingIncomeLoss	1085000000	USD
CY2015Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	232000000	USD
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CY2015Q4	us-gaap	Other Assets Current OtherAssetsCurrent	211000000	USD
CY2015Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	455000000	USD
CY2015Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	565000000	USD
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CY2015Q4	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax	-3000000	USD
	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-16000000	USD
CY2015Q4	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-4000000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-24000000	USD
CY2015Q4	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-90000000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-21000000	USD
CY2015Q4	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-103000000	USD
	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	-19000000	USD
CY2015Q4	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	6000000	USD
CY2015Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	698000000	USD
CY2015Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	720000000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-49000000	USD
CY2015Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-4000000	USD
	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	16000000	USD
CY2015Q4	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-17000000	USD
CY2015Q3	us-gaap	Other Receivables OtherReceivables	203000000	USD
CY2015Q4	us-gaap	Other Receivables OtherReceivables	197000000	USD
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	3000000	USD
CY2015Q4	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	158000000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	26000000	USD
CY2015Q4	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	135000000	USD
	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	668000000	USD
CY2015Q4	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	510000000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	669000000	USD
CY2015Q4	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	990000000	USD
	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	0	USD
CY2015Q4	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	174000000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	18000000	USD
CY2015Q4	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	15000000	USD
	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	20000000	USD
CY2015Q4	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	37000000	USD
	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-32000000	USD
CY2015Q4	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-34000000	USD
	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	330000000	USD
CY2015Q4	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	1044000000	USD
	us-gaap	Proceeds From Sale Of Available For Sale Securities ProceedsFromSaleOfAvailableForSaleSecurities	233000000	USD
CY2015Q4	us-gaap	Proceeds From Sale Of Available For Sale Securities ProceedsFromSaleOfAvailableForSaleSecurities	407000000	USD
	us-gaap	Profit Loss ProfitLoss	1002000000	USD
CY2015Q4	us-gaap	Profit Loss ProfitLoss	206000000	USD
CY2015Q4	us-gaap	Property Plant And Equipment Additions PropertyPlantAndEquipmentAdditions	1241000000	USD
CY2015Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	27275000000	USD
CY2015Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	28381000000	USD
CY2015Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	10554000000	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	11060000000	USD
CY2015Q3	us-gaap	Receivables Net Current ReceivablesNetCurrent	2507000000	USD
CY2015Q4	us-gaap	Receivables Net Current ReceivablesNetCurrent	2223000000	USD
	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	786000000	USD
CY2015Q4	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	197000000	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	376000000	USD
CY2015Q4	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	421000000	USD
	us-gaap	Restructuring Settlement And Impairment Provisions RestructuringSettlementAndImpairmentProvisions	1000000	USD
CY2015Q4	us-gaap	Restructuring Settlement And Impairment Provisions RestructuringSettlementAndImpairmentProvisions	15000000	USD
CY2015Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	5588000000	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	5788000000	USD
CY2015Q4	us-gaap	Retained Earnings Undistributed Earnings From Equity Method Investees RetainedEarningsUndistributedEarningsFromEquityMethodInvestees	291000000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	4573000000	USD
CY2015Q4	us-gaap	Sales Revenue Net SalesRevenueNet	3350000000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	193000000	USD
CY2015Q4	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	179000000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	35000000	USD
CY2015Q4	us-gaap	Share Based Compensation ShareBasedCompensation	46000000	USD
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	163000000	shares
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant	103000000	shares
CY2015Q4	us-gaap	Share Price SharePrice	15.61
CY2015Q3	us-gaap	Stockholders Equity StockholdersEquity	12302000000	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	12301000000	USD
CY2014Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	11573000000	USD
CY2014Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	12493000000	USD
CY2015Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	13239000000	USD
CY2015Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	13275000000	USD
	us-gaap	Stockholders Equity Other StockholdersEquityOther	75000000	USD
CY2015Q4	us-gaap	Stockholders Equity Other StockholdersEquityOther	104000000	USD
CY2015Q3	us-gaap	Taxes Payable Current TaxesPayableCurrent	85000000	USD
CY2015Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	84000000	USD
CY2015Q3	us-gaap	Treasury Stock Shares TreasuryStockShares	45000000	shares
CY2015Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	52000000	shares
CY2015Q3	us-gaap	Treasury Stock Value TreasuryStockValue	881000000	USD
CY2015Q4	us-gaap	Treasury Stock Value TreasuryStockValue	1006000000	USD
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	125000000	shares
CY2015Q4	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	50000000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1195000000	shares
CY2015Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1085000000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1070000000	shares
CY2015Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1035000000	shares
CY2015Q4	us-gaap	Description Of New Accounting Pronouncements Not Yet Adopted DescriptionOfNewAccountingPronouncementsNotYetAdopted	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Recently Issued Accounting Standards</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-01 </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">–</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recognition and Measurement of Financial Assets and Financial Liabilities</font><font style="font-family:inherit;font-size:10pt;">, which provides guidance for the recognition, measurement, presentation, and disclosure of financial assets and liabilities.  This ASU will be effective for us beginning in our first quarter of 2019.  We are evaluating the effects of the adoption of this ASU on our financial statements.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2015, the FASB issued ASU 2015-17 </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">– Balance Sheet Classification of Deferred Taxes, </font><font style="font-family:inherit;font-size:10pt;">which eliminates the current requirement to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, entities will be required to classify all deferred tax assets and liabilities as noncurrent. This ASU will be effective for us beginning in our first quarter of 2018 and early adoption is permitted. We are evaluating the timing of our adoption of this ASU. We do not expect this adoption to have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In September 2015, the FASB issued ASU 2015-16 </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">– Simplifying the Accounting for Measurement-Period Adjustments, </font><font style="font-family:inherit;font-size:10pt;">which eliminates the requirement to restate prior period financial statements for measurement period adjustments. Instead, the cumulative impact of measurement period adjustments, including the impact on prior periods, is required to be recognized in the reporting period in which the adjustment is identified. This ASU will be effective for us beginning in our first quarter of 2017 and early adoption is permitted. We are evaluating the timing of our adoption and the effects of the adoption of this ASU on our financial statements.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the FASB issued ASU 2015-05 </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">– Customer's Accounting for Fees Paid in a Cloud Computing Arrangement</font><font style="font-family:inherit;font-size:10pt;">, which provides additional guidance to customers about whether a cloud computing arrangement includes a software license. Under ASU 2015-05, if a cloud computing arrangement contains a software license, customers should account for the license element of the arrangement in a manner consistent with the acquisition of other software licenses. If the arrangement does not contain a software license, customers should account for the arrangement as a service contract. ASU 2015-05 also removes the requirement to analogize to ASC 840-10 </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">–</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases,</font><font style="font-family:inherit;font-size:10pt;"> to determine the asset acquired in a software licensing arrangement. This ASU will be effective for us beginning in our first quarter of 2017 and early adoption is permitted.  We are evaluating the timing of our adoption and the effects of the adoption of this ASU on our financial statements.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2015, the FASB issued ASU 2015-02 – </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Amendments to the Consolidation Analysis</font><font style="font-family:inherit;font-size:10pt;">, which amends the consolidation requirements in Accounting Standards Codification 810 </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">–</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidation</font><font style="font-family:inherit;font-size:10pt;">.  ASU 2015-02 makes targeted amendments to the current consolidation guidance for VIEs, which could change consolidation conclusions.  This ASU will be effective for us beginning in our first quarter of 2017 and early adoption is permitted.  We are evaluating the timing of our adoption and the effects of the adoption of this ASU on our financial statements.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued ASU 2014-09 – </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers</font><font style="font-family:inherit;font-size:10pt;">, which supersedes nearly all existing revenue recognition guidance under generally accepted accounting principles in the U.S.  The core principal of this ASU is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  This ASU also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract.  Including the one-year extension of this ASU provided by ASU 2015-14, we are required to adopt this ASU beginning in our first quarter of 2019; however, we are permitted to adopt this ASU as early as our first quarter of 2018. This ASU allows for either full retrospective or modified retrospective adoption. We are evaluating the timing of our adoption, the transition method we will elect, and the effects of the adoption of this ASU on our financial statements.</font></div></div>
CY2015Q4	us-gaap	Fiscal Period FiscalPeriod	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal year 2016 contains 52 weeks and the </font><font style="font-family:inherit;font-size:10pt;">first</font><font style="font-family:inherit;font-size:10pt;"> quarter of fiscal 2016, which ended on </font><font style="font-family:inherit;font-size:10pt;">December 3, 2015</font><font style="font-family:inherit;font-size:10pt;">, contained 13 weeks. Fiscal year 2015 contained 53 weeks and the </font><font style="font-family:inherit;font-size:10pt;">first</font><font style="font-family:inherit;font-size:10pt;"> quarter of fiscal 2015, which ended on </font><font style="font-family:inherit;font-size:10pt;">December 4, 2014</font><font style="font-family:inherit;font-size:10pt;">, contained 14 weeks. All period references are to our fiscal periods unless otherwise indicated.</font></div></div>
CY2015Q4	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Contingencies</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have accrued a liability and charged operations for the estimated costs of adjudication or settlement of various asserted and unasserted claims existing as of the applicable balance sheet dates, including those described below. We are currently a party to other legal actions arising from the normal course of business, none of which is expected to have a material adverse effect on our business, results of operations, or financial condition.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Patent Matters</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As is typical in the semiconductor and other high-tech industries, from time to time others have asserted, and may in the future assert, that our products or manufacturing processes infringe their intellectual property rights.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On November 21, 2014, Elm 3DS Innovations, LLC ("Elm") filed a patent infringement action against Micron, Micron Semiconductor Products, Inc., and Micron Consumer Products Group, Inc. in the U.S. District Court for the District of Delaware. On March 27, 2015, Elm filed an amended complaint against the same entities. The amended complaint alleges that unspecified semiconductor products of ours that incorporate multiple stacked die infringe thirteen U.S. patents and seeks damages, attorneys' fees, and costs.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On December 15, 2014, Innovative Memory Solutions, Inc. filed a patent infringement action against us in the U.S. District Court for the District of Delaware.  The complaint alleges that a variety of our NAND Flash products infringe eight U.S. patents and seeks damages, attorneys' fees, and costs.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Among other things, the above lawsuits pertain to certain of our DDR DRAM, DDR2 DRAM, DDR3 DRAM, DDR4 DRAM, SDR SDRAM, PSRAM, RLDRAM, LPDRAM, NAND Flash, and certain other memory products we manufacture, which account for a significant portion of our net sales.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are unable to predict the outcome of assertions of infringement made against us and therefore cannot estimate the range of possible loss. A determination that our products or manufacturing processes infringe the intellectual property rights of others or entering into a license agreement covering such intellectual property could result in significant liability and/or require us to make material changes to our products and/or manufacturing processes. Any of the foregoing could have a material adverse effect on our business, results of operations, or financial condition.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Qimonda</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 20, 2011, Dr. Michael Jaffé, administrator for Qimonda insolvency proceedings, filed suit against Micron and Micron Semiconductor B.V., our Netherlands subsidiary ("Micron B.V."), in the District Court of Munich, Civil Chamber. The complaint seeks to void under Section 133 of the German Insolvency Act a share purchase agreement between Micron B.V. and Qimonda signed in fall 2008 pursuant to which Micron B.V. purchased substantially all of Qimonda's shares of Inotera Memories, Inc. (the "Inotera Shares"), which represents approximately 55% of our total shares in Inotera as of December 3, 2015, and seeks an order requiring us to re-transfer those shares to the Qimonda estate. The complaint also seeks, among other things, to recover damages for the alleged value of the joint venture relationship with Inotera and to terminate under Sections 103 or 133 of the German Insolvency Code a patent cross-license between us and Qimonda entered into at the same time as the share purchase agreement.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Following a series of hearings with pleadings, arguments, and witnesses on behalf of the Qimonda estate, on March 13, 2014, the Court issued judgments:  (1) ordering Micron B.V. to pay approximately $1 million in respect of certain Inotera shares sold in connection with the original share purchase; (2) ordering Micron B.V. to disclose certain information with respect to any Inotera Shares sold by it to third parties; (3) ordering Micron B.V. to disclose the benefits derived by it from ownership of the Inotera Shares, including in particular, any profits distributed on such shares and all other benefits; (4) denying Qimonda's claims against Micron for any damages relating to the joint venture relationship with Inotera; and (5) determining that Qimonda's obligations under the patent cross-license agreement are canceled. In addition, the Court issued interlocutory judgments ordering, among other things:  (1) that Micron B.V. transfer to the Qimonda estate the Inotera Shares still owned by it and pay to the Qimonda estate compensation in an amount to be specified for any Inotera Shares sold to third parties; and (2) that Micron B.V. pay the Qimonda estate as compensation an amount to be specified for benefits derived by it from ownership of the Inotera Shares. The interlocutory judgments have no immediate, enforceable effect on us, and, accordingly, we expect to be able to continue to operate with full control of the Inotera Shares subject to further developments in the case. We have filed a notice of appeal, and the parties have submitted briefs to the appeals court.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are unable to predict the outcome of the matter and therefore cannot estimate the range of possible loss. The final resolution of this lawsuit could result in the loss of the Inotera Shares or monetary damages, unspecified damages based on the benefits derived by Micron B.V. from the ownership of the Inotera Shares, and/or the termination of the patent cross-license, which could have a material adverse effect on our business, results of operation, or financial condition.  As of December 3, 2015, the Inotera Shares had a carrying value in equity method investments of $664 million and a market value of $855 million.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Other</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the normal course of business, we are a party to a variety of agreements pursuant to which we may be obligated to indemnify the other party. It is not possible to predict the maximum potential amount of future payments under these types of agreements due to the conditional nature of our obligations and the unique facts and circumstances involved in each particular agreement. Historically, our payments under these types of agreements have not had a material adverse effect on our business, results of operations, or financial condition.</font></div></div>
CY2015Q4	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to prior period amounts to conform to current period presentation.</font></div></div>

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2015 Q4 Form 10-Q Financial Statement

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2015 Q4 Form 10-Q Financial Statement

#000072312516000146 Filed on January 08, 2016

Income Statement

Balance Sheet

Cashflow Statement

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Files In Submission

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Micron Technology Inc Stock $mu