$MU
Micron Technology Inc Stock $mu

$mu Overview Financials Valuation SEC Filings Company Website

2016 Q4 Form 10-Q Financial Statement

#000072312517000005 Filed on January 09, 2017

Income Statement

Concept	2016 Q4	2015 Q4
Revenue	$3.970B	$3.350B
YoY Change	18.51%	-26.74%
Cost Of Revenue	$2.959B	$2.501B
YoY Change	18.31%	-14.79%
Gross Profit	$1.011B	$849.0M
YoY Change	19.08%	-48.17%
Gross Profit Margin	25.47%	25.34%
Selling, General & Admin	$159.0M	$179.0M
YoY Change	-11.17%	-7.25%
% of Gross Profit	15.73%	21.08%
Research & Development	$470.0M	$421.0M
YoY Change	11.64%	11.97%
% of Gross Profit	46.49%	49.59%
Depreciation & Amortization	$744.0M	$706.0M
YoY Change	5.38%	9.8%
% of Gross Profit	73.59%	83.16%
Operating Expenses	$629.0M	$600.0M
YoY Change	4.83%	7.33%
Operating Profit	$359.0M	$232.0M
YoY Change	54.74%	-78.5%
Interest Expense	$139.0M	$96.00M
YoY Change	44.79%	-192.31%
% of Operating Profit	38.72%	41.38%
Other Income/Expense, Net	-$14.00M	-$4.000M
YoY Change	250.0%	-300.0%
Pretax Income	$213.0M	$143.0M
YoY Change	48.95%	-84.99%
Income Tax	$31.00M	-$4.000M
% Of Pretax Income	14.55%	-2.8%
Net Earnings	$180.0M	$206.0M
YoY Change	-12.62%	-79.46%
Net Earnings / Revenue	4.53%	6.15%
Basic Earnings Per Share	$0.17	$0.20
Diluted Earnings Per Share	$0.16	$0.19
COMMON SHARES
Basic Shares Outstanding	1.040B shares	1.035B shares
Diluted Shares Outstanding	1.091B shares	1.085B shares

Balance Sheet

Concept	2016 Q4	2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$4.169B	$3.641B
YoY Change	14.5%	-13.92%
Cash & Equivalents	$4.139B	$2.605B
Short-Term Investments	$30.00M	$1.036B
Other Short-Term Assets	$132.0M	$211.0M
YoY Change	-37.44%	-36.25%
Inventory	$2.750B	$2.435B
Prepaid Expenses
Receivables	$2.162B	$1.939B
Other Receivables	$291.0M	$284.0M
Total Short-Term Assets	$9.504B	$8.510B
YoY Change	11.68%	-12.01%
LONG-TERM ASSETS
Property, Plant & Equipment	$15.32B	$11.06B
YoY Change	38.53%	21.11%
Goodwill
YoY Change
Intangibles	$445.0M	$536.0M
YoY Change	-16.98%
Long-Term Investments	$1.401B	$1.351B
YoY Change	3.7%	25.09%
Other Assets	$411.0M	$565.0M
YoY Change	-27.26%	26.68%
Total Long-Term Assets	$18.33B	$15.88B
YoY Change	15.46%	23.37%
TOTAL ASSETS
Total Short-Term Assets	$9.504B	$8.510B
Total Long-Term Assets	$18.33B	$15.88B
Total Assets	$27.84B	$24.39B
YoY Change	14.14%	8.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.304B	$1.014B
YoY Change	28.6%	5.52%
Accrued Expenses	$351.0M	$335.0M
YoY Change	4.78%	-7.97%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$1.155B	$1.051B
YoY Change	9.9%	-10.02%
Total Short-Term Liabilities	$5.546B	$4.025B
YoY Change	37.79%	-8.92%
LONG-TERM LIABILITIES
Long-Term Debt	$8.521B	$6.368B
YoY Change	33.81%	36.62%
Other Long-Term Liabilities	$601.0M	$720.0M
YoY Change	-16.53%	-25.7%
Total Long-Term Liabilities	$601.0M	$720.0M
YoY Change	-16.53%	-25.7%
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.546B	$4.025B
Total Long-Term Liabilities	$601.0M	$720.0M
Total Liabilities	$14.64B	$11.07B
YoY Change	32.21%	10.75%
SHAREHOLDERS EQUITY
Retained Earnings	$5.469B	$5.788B
YoY Change	-5.51%	55.88%
Common Stock	$7.887B	$7.609B
YoY Change	3.65%	-4.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)		$1.006B
YoY Change
Treasury Stock Shares		52.00M shares
Shareholders Equity	$12.32B	$12.30B
YoY Change
Total Liabilities & Shareholders Equity	$27.84B	$24.39B
YoY Change	14.14%	8.19%

Cashflow Statement

Concept	2016 Q4	2015 Q4
OPERATING ACTIVITIES
Net Income	$180.0M	$206.0M
YoY Change	-12.62%	-79.46%
Depreciation, Depletion And Amortization	$744.0M	$706.0M
YoY Change	5.38%	9.8%
Cash From Operating Activities	$1.138B	$1.120B
YoY Change	1.61%	-29.65%
INVESTING ACTIVITIES
Capital Expenditures	$1.264B	$990.0M
YoY Change	27.68%	-247.98%
Acquisitions
YoY Change
Other Investing Activities	-$11.00M	$158.0M
YoY Change	-106.96%	-138.82%
Cash From Investing Activities	-$936.0M	-$660.0M
YoY Change	41.82%	-38.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$13.00M	$135.0M
YoY Change	-90.37%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$212.0M	-140.0M
YoY Change	51.43%	-82.63%
NET CHANGE
Cash From Operating Activities	$1.138B	1.120B
Cash From Investing Activities	-$936.0M	-660.0M
Cash From Financing Activities	-$212.0M	-140.0M
Net Change In Cash	-$52.00M	320.0M
YoY Change	-116.25%	-210.34%
FREE CASH FLOW
Cash From Operating Activities	$1.138B	$1.120B
Capital Expenditures	$1.264B	$990.0M
Free Cash Flow	-$126.0M	$130.0M
YoY Change	-196.92%	-94.25%

Facts In Submission

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CY2016Q4	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	0	USD
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CY2016Q4	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax	-1000000	USD
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CY2015Q4	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-90000000	USD
CY2016Q4	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	37000000	USD
CY2015Q4	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-103000000	USD
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CY2015Q4	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	6000000	USD
CY2016Q4	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	1000000	USD
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CY2016Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	601000000	USD
CY2015Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-4000000	USD
CY2016Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-14000000	USD
CY2015Q4	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	-46000000	USD
CY2016Q4	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	6000000	USD
CY2015Q4	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-2000000	USD
CY2016Q4	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	6000000	USD
CY2016Q3	us-gaap	Other Receivables OtherReceivables	184000000	USD
CY2016Q4	us-gaap	Other Receivables OtherReceivables	156000000	USD
CY2015Q4	us-gaap	Other Tax Expense Benefit OtherTaxExpenseBenefit	15000000	USD
CY2016Q4	us-gaap	Other Tax Expense Benefit OtherTaxExpenseBenefit	18000000	USD
CY2015Q4	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	158000000	USD
CY2016Q4	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	-64000000	USD
CY2015Q4	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	135000000	USD
CY2016Q4	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	13000000	USD
CY2015Q4	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	510000000	USD
CY2016Q4	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	84000000	USD
CY2015Q4	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	990000000	USD
CY2016Q4	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1264000000	USD
CY2015Q4	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	174000000	USD
CY2016Q4	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	16000000	USD
CY2015Q4	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	15000000	USD
CY2016Q4	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	29000000	USD
CY2015Q4	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	37000000	USD
CY2016Q4	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	0	USD
CY2015Q4	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-34000000	USD
CY2016Q4	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-32000000	USD
CY2015Q4	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	1044000000	USD
CY2016Q4	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	567000000	USD
CY2015Q4	us-gaap	Proceeds From Sale Of Available For Sale Securities ProceedsFromSaleOfAvailableForSaleSecurities	407000000	USD
CY2016Q4	us-gaap	Proceeds From Sale Of Available For Sale Securities ProceedsFromSaleOfAvailableForSaleSecurities	512000000	USD
CY2015Q4	us-gaap	Profit Loss ProfitLoss	206000000	USD
CY2016Q4	us-gaap	Profit Loss ProfitLoss	180000000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Additions PropertyPlantAndEquipmentAdditions	1384000000	USD
CY2016Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	33605000000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	34885000000	USD
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CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	15321000000	USD
CY2016Q3	us-gaap	Receivables Net Current ReceivablesNetCurrent	2068000000	USD
CY2016Q4	us-gaap	Receivables Net Current ReceivablesNetCurrent	2453000000	USD
CY2015Q4	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	197000000	USD
CY2016Q4	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	188000000	USD
CY2015Q4	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	421000000	USD
CY2016Q4	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	470000000	USD
CY2015Q4	us-gaap	Restructuring Settlement And Impairment Provisions RestructuringSettlementAndImpairmentProvisions	15000000	USD
CY2016Q4	us-gaap	Restructuring Settlement And Impairment Provisions RestructuringSettlementAndImpairmentProvisions	29000000	USD
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CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	5469000000	USD
CY2016Q4	us-gaap	Retained Earnings Undistributed Earnings From Equity Method Investees RetainedEarningsUndistributedEarningsFromEquityMethodInvestees	290000000	USD
CY2015Q4	us-gaap	Sales Revenue Net SalesRevenueNet	3350000000	USD
CY2016Q4	us-gaap	Sales Revenue Net SalesRevenueNet	3970000000	USD
CY2015Q4	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	179000000	USD
CY2016Q4	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	159000000	USD
CY2015Q4	us-gaap	Share Based Compensation ShareBasedCompensation	46000000	USD
CY2016Q4	us-gaap	Share Based Compensation ShareBasedCompensation	46000000	USD
CY2016Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant	84000000	shares
CY2016Q3	us-gaap	Stockholders Equity StockholdersEquity	12080000000	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	12320000000	USD
CY2016Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	12928000000	USD
CY2016Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	13168000000	USD
CY2016Q3	us-gaap	Taxes Payable Current TaxesPayableCurrent	41000000	USD
CY2016Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	60000000	USD
CY2016Q3	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	0	USD
CY2016Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	31000000	USD
CY2016Q3	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	54000000	shares
CY2016Q4	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	54000000	shares
CY2016Q3	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	1029000000	USD
CY2016Q4	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	1029000000	USD
CY2015Q4	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	50000000	shares
CY2016Q4	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	51000000	shares
CY2015Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1085000000	shares
CY2016Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1091000000	shares
CY2015Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1035000000	shares
CY2016Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1040000000	shares
CY2016Q4	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;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 2016, the FASB issued ASU 2016-18 –</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Restricted Cash</font><font style="font-family:inherit;font-size:10pt;">, which requires amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the total beginning and ending amounts for the periods shown on the statement of cash flows. This ASU will be effective for us beginning in our first quarter of 2019 with early adoption permitted and requires retrospective adoption. We are evaluating the timing and effects of our 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 October 2016, the FASB issued ASU 2016-16 – </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intra-Entity Transfers Other Than Inventory</font><font style="font-family:inherit;font-size:10pt;">, which requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This ASU will be effective for us beginning in our first quarter of 2019 with early adoption permitted and requires modified retrospective adoption. We are evaluating the timing and effects of our 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 June 2016, the FASB issued ASU 2016-13 – </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Measurement of Credit Losses on Financial Instruments</font><font style="font-family:inherit;font-size:10pt;">, which requires a financial asset (or a group of financial assets) measured on the basis of amortized cost to be presented at the net amount expected to be collected. This ASU requires that the income statement reflect the measurement of credit losses for newly recognized financial assets as well as the expected increases or decreases of expected credit losses that have taken place during the period. This ASU requires that credit losses of debt securities designated as available-for-sale be recorded through an allowance for credit losses and limits the credit loss to the amount by which fair value is below amortized cost. We are required to adopt this ASU beginning in our first quarter of 2021; however, we are permitted to adopt this ASU as early as our first quarter of 2020. This ASU is required to be adopted using a modified retrospective approach, with prospective adoption for debt securities for which an other-than-temporary impairment had been recognized before the effective date. We are evaluating the timing and effects of our 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;">  </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 February 2016, the FASB issued ASU 2016-02 – </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases</font><font style="font-family:inherit;font-size:10pt;">, which amends a number of aspects of lease accounting, including requiring lessees to recognize operating leases with a term greater than one year on their balance sheet as a right-of-use asset and corresponding liability, measured at the present value of the lease payments. This ASU will be effective for us beginning in our first quarter of 2020 with early adoption permitted and is required to be adopted using a modified retrospective approach. We are evaluating the timing and effects of our 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 January 2016, the FASB issued ASU 2016-01 – </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 and requires modified retrospective adoption. We are evaluating the effects of our 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-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, as amended, 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. 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 expect that, as a result of the adoption of this ASU, the timing of recognizing revenue from sales of products to our distributors will be generally earlier than under the existing revenue recognition guidance. We are evaluating the timing, method, and effects of our adoption of this ASU on our financial statements.</font></div></div>
CY2016Q4	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 years 2017 and 2016 each contain 52 weeks. All period references are to our fiscal periods unless otherwise indicated</font></div></div>
CY2016Q4	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 balance sheet date, 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, MSP, 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 </font><font style="font-family:inherit;font-size:10pt;">thirteen</font><font style="font-family:inherit;font-size:10pt;"> 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 Micron in the U.S. District Court for the District of Delaware. The complaint alleges that a variety of our NAND Flash products infringe </font><font style="font-family:inherit;font-size:10pt;">eight</font><font style="font-family:inherit;font-size:10pt;"> 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 June 24, 2016, the President and Fellows of Harvard University filed a patent infringement action against Micron in the U.S. District Court for the District of Massachusetts. The complaint alleges that a variety of our DRAM products infringe </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> U.S. patents and seeks damages, injunctive relief, and other unspecified relief.</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"), representing approximately </font><font style="font-family:inherit;font-size:10pt;">18%</font><font style="font-family:inherit;font-size:10pt;"> of Inotera's outstanding shares as of </font><font style="font-family:inherit;font-size:10pt;">December 1, 2016</font><font style="font-family:inherit;font-size:10pt;">, 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 </font><font style="font-family:inherit;font-size:10pt;">$1 million</font><font style="font-family:inherit;font-size:10pt;"> 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.</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>
CY2016Q4	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>

Files In Submission

Name	View Source	Status
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0000723125-17-000005-index.html	Edgar Link	pending
0000723125-17-000005.txt	Edgar Link	pending
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2016 Q4 Form 10-Q Financial Statement

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2016 Q4 Form 10-Q Financial Statement

#000072312517000005 Filed on January 09, 2017

Income Statement

Balance Sheet

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Files In Submission

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Micron Technology Inc Stock $mu