2022 Q1 Form 10-Q Financial Statement

#000072312522000016 Filed on March 30, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $7.786B $6.236B
YoY Change 24.86% 30.0%
Cost Of Revenue $4.110B $4.587B
YoY Change -10.4% 33.27%
Gross Profit $3.676B $1.649B
YoY Change 122.92% 21.7%
Gross Profit Margin 47.21% 26.44%
Selling, General & Admin $263.0M $214.0M
YoY Change 22.9% -4.04%
% of Gross Profit 7.15% 12.98%
Research & Development $792.0M $641.0M
YoY Change 23.56% -5.87%
% of Gross Profit 21.55% 38.87%
Depreciation & Amortization $1.742B $1.549B
YoY Change 12.46% 13.48%
% of Gross Profit 47.39% 93.94%
Operating Expenses $1.055B $855.0M
YoY Change 23.39% -5.42%
Operating Profit $2.546B $663.0M
YoY Change 284.01% 50.68%
Interest Expense $55.00M $42.00M
YoY Change 30.95% -8.7%
% of Operating Profit 2.16% 6.33%
Other Income/Expense, Net $6.000M $4.000M
YoY Change 50.0% -500.0%
Pretax Income $2.509B $635.0M
YoY Change 295.12% 48.71%
Income Tax $255.0M $48.00M
% Of Pretax Income 10.16% 7.56%
Net Earnings $2.263B $603.0M
YoY Change 275.29% 48.89%
Net Earnings / Revenue 29.06% 9.67%
Basic Earnings Per Share $2.02 $0.54
Diluted Earnings Per Share $2.00 $0.53
COMMON SHARES
Basic Shares Outstanding 1.119B shares 1.120B shares
Diluted Shares Outstanding 1.130B shares 1.144B shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.12B $7.184B
YoY Change 40.9% -3.97%
Cash & Equivalents $9.116B $6.507B
Short-Term Investments $1.006B $677.0M
Other Short-Term Assets $600.0M $538.0M
YoY Change 11.52% 126.05%
Inventory $5.383B $4.743B
Prepaid Expenses
Receivables $5.061B $3.007B
Other Receivables $134.0M $170.0M
Total Short-Term Assets $21.50B $17.28B
YoY Change 24.44% 8.16%
LONG-TERM ASSETS
Property, Plant & Equipment $36.76B $32.42B
YoY Change 13.37% 9.36%
Goodwill $1.228B $1.228B
YoY Change 0.0% 0.0%
Intangibles $414.0M $342.0M
YoY Change 21.05% 3.01%
Long-Term Investments $1.913B $1.316B
YoY Change 45.36% 124.57%
Other Assets $1.315B $821.0M
YoY Change 60.17% 60.98%
Total Long-Term Assets $42.19B $36.86B
YoY Change 14.48% 9.46%
TOTAL ASSETS
Total Short-Term Assets $21.50B $17.28B
Total Long-Term Assets $42.19B $36.86B
Total Assets $63.70B $54.14B
YoY Change 17.66% 9.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.924B $1.628B
YoY Change 18.18% -20.74%
Accrued Expenses $763.0M $645.0M
YoY Change 18.29% 13.96%
Deferred Revenue $78.00M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $123.0M $323.0M
YoY Change -61.92% 36.29%
Total Short-Term Liabilities $6.918B $5.433B
YoY Change 27.33% -6.68%
LONG-TERM LIABILITIES
Long-Term Debt $6.953B $6.298B
YoY Change 10.4% 21.4%
Other Long-Term Liabilities $741.0M $552.0M
YoY Change 34.24% 44.13%
Total Long-Term Liabilities $741.0M $552.0M
YoY Change 34.24% 44.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.918B $5.433B
Total Long-Term Liabilities $741.0M $552.0M
Total Liabilities $15.85B $13.47B
YoY Change 17.66% 7.54%
SHAREHOLDERS EQUITY
Retained Earnings $43.41B $34.72B
YoY Change 25.01% 9.88%
Common Stock $9.938B $9.354B
YoY Change 6.24% 5.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.85B $40.66B
YoY Change
Total Liabilities & Shareholders Equity $63.70B $54.14B
YoY Change 17.66% 9.04%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $2.263B $603.0M
YoY Change 275.29% 48.89%
Depreciation, Depletion And Amortization $1.742B $1.549B
YoY Change 12.46% 13.48%
Cash From Operating Activities $3.628B $3.057B
YoY Change 18.68% 52.77%
INVESTING ACTIVITIES
Capital Expenditures -$2.611B -$3.018B
YoY Change -13.49% 46.79%
Acquisitions
YoY Change
Other Investing Activities -$80.00M $462.0M
YoY Change -117.32% 33.53%
Cash From Investing Activities -$2.691B -$2.556B
YoY Change 5.28% 49.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -466.0M 5.000M
YoY Change -9420.0% -102.33%
NET CHANGE
Cash From Operating Activities 3.628B 3.057B
Cash From Investing Activities -2.691B -2.556B
Cash From Financing Activities -466.0M 5.000M
Net Change In Cash 471.0M 506.0M
YoY Change -6.92% 565.79%
FREE CASH FLOW
Cash From Operating Activities $3.628B $3.057B
Capital Expenditures -$2.611B -$3.018B
Free Cash Flow $6.239B $6.075B
YoY Change 2.7% 49.74%

Facts In Submission

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<div><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:22pt;font-weight:700;line-height:120%">Contingencies</span></div><div><span><br/></span></div><div><span style="color:#0090da;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Patent Matters</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 upon their intellectual property rights.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 products infringe eight U.S. patents and seeks damages, attorneys’ fees, and costs. Subsequently, six patents were invalidated or withdrawn, leaving two asserted patents in the District Court.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 19, 2018, Micron Semiconductor (Xi’an) Co., Ltd. (“MXA”) was served with a patent infringement complaint filed by Fujian Jinhua Integrated Circuit Co., Ltd. (“Jinhua”) in the Fuzhou Intermediate People’s Court in Fujian Province, China (the “Fuzhou Court”). On April 3, 2018, Micron Semiconductor (Shanghai) Co. Ltd. (“MSS”) was served with the same complaint. The complaint alleges that MXA and MSS infringe a Chinese patent by manufacturing and selling certain Crucial DDR4 DRAM modules. The complaint seeks an order requiring MXA and MSS to destroy inventory of the accused products and equipment for manufacturing the accused products in China; to stop manufacturing, using, selling, and offering for sale the accused products in China; and to pay damages of 98 million Chinese yuan plus court fees incurred.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 21, 2018, MXA was served with a patent infringement complaint filed by United Microelectronics Corporation (“UMC”) in the Fuzhou Court. On April 3, 2018, MSS was served with the same complaint. The complaint alleges that MXA and MSS infringe a Chinese patent by manufacturing and selling certain Crucial DDR4 DRAM modules. The complaint seeks an order requiring MXA and MSS to destroy inventory of the accused products and equipment for manufacturing the accused products in China; to stop manufacturing, using, selling, and offering for sale the accused products in China; and to pay damages of 90 million Chinese yuan plus court fees incurred. On November 26, 2021, pursuant to a settlement agreement between UMC and Micron, UMC filed an application to the Fuzhou Court to withdraw its complaints against MXA and MSS.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 3, 2018, MSS was served with another patent infringement complaint filed by Jinhua and an additional complaint filed by UMC in the Fuzhou Court. The additional complaints allege that MSS infringes two Chinese patents by manufacturing and selling certain Crucial MX300 SSDs. The complaint filed by UMC seeks an order requiring MSS to destroy inventory of the accused products and equipment for manufacturing the accused products in China; to stop manufacturing, using, selling, and offering for sale the accused products in China; and to pay damages of 90 million Chinese yuan plus court fees incurred. The complaint filed by Jinhua seeks an order requiring MSS to destroy inventory of the accused products and equipment for manufacturing the accused products in China; to stop manufacturing, using, selling, and offering for sale the accused products in China; and to pay damages of 98 million Chinese yuan plus court fees incurred. On November 26, 2021, pursuant to a settlement agreement between UMC and Micron, UMC filed an application to the Fuzhou Court to withdraw its complaint against MSS.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 5, 2018, MXA and MSS were notified that the Fuzhou Court granted a preliminary injunction against those entities that enjoins them from manufacturing, selling, or importing certain Crucial and Ballistix-branded DRAM modules and solid-state drives in China. The affected products made up slightly more than 1% of our annualized revenue in 2018. We are complying with the ruling and have requested the Fuzhou Court to reconsider or stay its decision.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 4, 2020, Flash-Control, LLC filed a patent infringement action against Micron in the U.S. District Court for the Western District of Texas. The complaint alleges that four U.S. patents are infringed by unspecified DDR4 SDRAM, NVRDIMM, NVDIMM, 3D XPoint, and/or SSD products that incorporate memory controllers and flash memory. The complaint seeks damages, attorneys’ fees, and costs. On July 21, 2020, in a separate matter, the District Court ruled that two of the four asserted patents are invalid, and on July 14, 2021, the U.S. Court of Appeals for the Federal Circuit affirmed the ruling of invalidity.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 28, 2021, Netlist, Inc. filed two patent infringement actions against Micron, Micron Semiconductor Products, Inc. and Micron Technology Texas, LLC in the U.S. District Court for the Western District of Texas. The first complaint alleges that a single U.S. patent is infringed by certain of our non-volatile dual in-line memory modules. The second complaint alleges that three U.S. patents are infringed by certain of our load-reduced dual in-line memory modules. Each complaint seeks injunctive relief, damages, attorneys’ fees, and costs.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 10, 2021, Vervain, LLC filed a patent infringement action against Micron, Micron Semiconductor Products, Inc., and Micron Technology Texas, LLC in the U.S. District Court for the Western District of Texas. The complaint alleges that four U.S. patents are infringed by certain SSD products. The complaint seeks injunctive relief, damages, attorneys’ fees, and costs.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Among other things, the above lawsuits pertain to substantially all of our DRAM, NAND, and other memory and storage products we manufacture, which account for substantially all of our revenue.</span></div><div><span><br/></span></div><div><span style="color:#0090da;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Qimonda</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 20, 2011, Dr. Michael Jaffé, administrator for Qimonda’s insolvency proceedings, filed suit against Micron and Micron Semiconductor B.V. (“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 (the “Inotera Shares”), representing approximately 18% of Inotera’s outstanding shares at that time, 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.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 the Inotera 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 Micron B.V. 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 Micron B.V. from ownership of the Inotera Shares. The interlocutory judgments had no immediate, enforceable effect and Micron, accordingly, has been able to continue to operate with full control of the Inotera Shares subject to further developments in the case. On April 17, 2014, Micron and Micron B.V. filed a notice of appeal with the German Appeals Court challenging the District Court’s decision. After opening briefs, the Appeals Court held a hearing on the matter on July 9, 2015, and thereafter appointed an independent expert to perform an evaluation of Dr. Jaffé’s claims that the amount Micron paid for Qimonda was less than fair market value. On January 25, 2018, the court-appointed expert issued a report concluding that the amount paid by Micron was within an acceptable fair-value </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">range. The Appeals Court held a subsequent hearing on April 30, 2019, and on May 28, 2019, the Appeals Court remanded the case to the expert for supplemental expert opinion. On March 31, 2020, the expert presented a revised opinion to the Appeals Court which reaffirmed the earlier view that the amount paid by Micron was still within an acceptable range of fair value. On March 4, 2021, the Appeals Court issued an order setting forth a new legal view that whether the 2008 sale of Inotera Shares is voidable depends on the question whether, in October 2008, Qimonda had a restructuring plan in place, and whether Micron was aware of and reasonably relied on that restructuring plan sufficient to form a belief that Qimonda was not imminently illiquid.</span></div><div><span><br/></span></div><div><span style="color:#0090da;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Antitrust Matters</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 27, 2018, a complaint was filed against Micron and other DRAM suppliers in the U.S. District Court for the Northern District of California. Subsequently, two substantially identical cases were filed in the same court. The lawsuits purported to be on behalf of a nationwide class of indirect purchasers of DRAM products. On September 3, 2019, the District Court granted Micron’s motion to dismiss and allowed the plaintiffs the opportunity to file a consolidated, amended complaint. On October 28, 2019, the plaintiffs filed a consolidated, amended complaint that purported to be on behalf of a nationwide class of indirect purchasers of DRAM products. The amended complaint asserted claims based on alleged price-fixing of DRAM products under federal and state law during the period from June 1, 2016 to at least February 1, 2018, and sought treble monetary damages, costs, interest, attorneys’ fees, and other injunctive and equitable relief. On December 21, 2020, the District Court dismissed the plaintiffs’ claims and entered judgment against them. On January 19, 2021, the plaintiffs filed a notice of appeal to the U.S. Court of Appeals for the Ninth Circuit. On March 7, 2022, the Court of Appeals affirmed the District Court’s ruling dismissing plaintiffs’ claims. On May 3, 2021, several plaintiffs filed a substantially identical complaint in the U.S. District Court for the Northern District of California purportedly on behalf of a nationwide class of indirect purchasers of DRAM products. On July 19, 2021, the District Court dismissed the May 3, 2021 complaint pursuant to an agreement between the plaintiffs and Micron providing that the plaintiffs could refile the complaint if the District Court’s December 21, 2020 dismissal order were not affirmed on appeal. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 26, 2018, a complaint was filed against Micron and other DRAM suppliers in the U.S. District Court for the Northern District of California. Subsequently, four substantially identical cases were filed in the same court. On October 28, 2019, the plaintiffs filed a consolidated, amended complaint. The consolidated complaint purported to be on behalf of a nationwide class of direct purchasers of DRAM products. The consolidated complaint asserted claims based on alleged price-fixing of DRAM products under federal and state law during the period from June 1, 2016 through at least February 1, 2018, and sought treble monetary damages, costs, interest, attorneys’ fees, and other injunctive and equitable relief. On December 21, 2020, the District Court granted Micron’s motion to dismiss and granted the plaintiffs permission to file a further amended complaint. On January 11, 2021, the plaintiffs filed a further amended complaint asserting substantially the same claims and seeking the same relief. On September 3, 2021, the District Court granted Micron’s motion to dismiss the further amended complaint with prejudice. On October 1, 2021, the plaintiffs filed a notice of appeal to the U.S. Court of Appeals for the Ninth Circuit.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, six cases have been filed in the following Canadian courts on the dates indicated: Superior Court of Quebec (April 30, 2018 and May 3, 2018), the Federal Court of Canada (May 2, 2018), the Ontario Superior Court of Justice (May 15, 2018), and the Supreme Court of British Columbia (May 10, 2018). The plaintiffs in these cases are individuals seeking certification of class actions on behalf of direct and indirect purchasers of DRAM in Canada (or regions of Canada) between June 1, 2016 and February 1, 2018. The substantive allegations in these cases are similar to those asserted in the cases filed in the United States.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 15, 2018, the Chinese State Administration for Market Regulation (“SAMR”) notified Micron that it was investigating potential collusion and other anticompetitive conduct by DRAM suppliers in China. On May 31, 2018, SAMR made unannounced visits to our sales offices in Beijing, Shanghai, and Shenzhen to seek certain information as part of its investigation. We are cooperating with SAMR in its investigation.</span></div><div><span><br/></span></div><div><span style="color:#0090da;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Securities Matters</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 5, 2019, a derivative complaint was filed by a shareholder against certain current and former officers and directors of Micron, allegedly on behalf of and for the benefit of Micron, in the U.S. District Court for the District of Delaware alleging securities fraud, breaches of fiduciary duties, and other violations of law involving misrepresentations about purported anticompetitive behavior in the DRAM industry. The complaint seeks damages, fees, interest, costs, and other appropriate relief.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 9, 2021, a derivative complaint was filed by a shareholder against Sanjay Mehrotra and other current and former directors of Micron, allegedly on behalf of and for the benefit of Micron, in the U.S. District Court for the District of Delaware alleging violations of securities laws, breaches of fiduciary duties, and other violations of law involving allegedly false and misleading statements about Micron’s commitment to diversity and progress in diversifying its workforce, executive leadership, and Board of Directors. The complaint seeks damages, fees, interest, costs, and an order requiring Micron to take various actions to allegedly improve its corporate governance and internal procedures.</span></div><div><span><br/></span></div><div><span style="color:#0090da;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Other Matters</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 13, 2019, current Micron employee, Chris Manning, filed a putative class action lawsuit on behalf of Micron employees subject to the Idaho Wage Claim Act who earned a performance-based bonus after the conclusion of 2018 whose performance rating was calculated based upon a mandatory percentage distribution range of performance ratings. On July 12, 2019, Manning and three other Company employees filed an amended complaint as putative class action representatives. On behalf of themselves and the putative class, Manning and the three other plaintiffs assert claims for violation of the Idaho Wage Claim Act, breach of contract, breach of the covenant of good faith and fair dealing, and fraud. On June 24, 2020, the court entered judgment in favor of Micron based on the statute of limitations, and the plaintiffs filed a notice of appeal on July 23, 2020. On March 9, 2022, the Supreme Court of Idaho affirmed the judgment in favor of Micron.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On July 31, 2020, Micron and Intel entered into a binding arbitration agreement under which the parties agreed to present to an arbitral panel various financial disputes related to the former IMFT joint venture between Micron and Intel, which ended October 31, 2019, and to other agreements related to the joint development, production, and sale of non-volatile memory products. We expect the arbitration process to be completed in the third quarter of 2022.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">On July 13, 2015, Allied Telesis, Inc. and Allied Telesis International (Asia) Pte Ltd. filed a complaint against Micron in the Superior Court of California in Santa Clara alleging breach of implied and express warranties and fraudulent inducement to contract arising from plaintiffs’ purchase of certain allegedly defective DDR1 products between 2008 and 2010. Through subsequent amendments to the complaint, the plaintiffs substituted Allied Telesis K.K. as plaintiff, withdrew the warranty claims, and added claims of fraudulent concealment, negligent misrepresentation, negligence, and strict products liability.</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:107%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">On January 28, 2022, the plaintiff dismissed its complaint against Micron pursuant to a settlement agreement.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the normal course of business, we are a party to a variety of agreements pursuant to which we may be obligated to indemnify another 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.</span></div><div><span><br/></span></div><div><span style="color:#0090da;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Contingency Assessment</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are unable to predict the outcome of the matters noted above and cannot make a reasonable estimate of the potential loss or range of possible losses. 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, as well as the resolution of any other legal matter noted above, could have a material adverse effect on our business, results of operations, or financial condition.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are currently a party to legal actions other than those described in this note arising from the normal course of business, none of which are expected to have a material adverse effect on our business, results of operations, or financial condition.</span></div>
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
74000000 USD
CY2022Q1 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
1020000000.00 USD
CY2021Q3 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
846000000 USD
CY2022Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
5000000 USD
CY2021Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
5000000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
43000000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
13000000 USD
CY2022Q1 mu License Agreement Income Expense
LicenseAgreementIncomeExpense
0 USD
CY2021Q1 mu License Agreement Income Expense
LicenseAgreementIncomeExpense
128000000 USD
mu License Agreement Income Expense
LicenseAgreementIncomeExpense
0 USD
mu License Agreement Income Expense
LicenseAgreementIncomeExpense
128000000 USD
CY2022Q1 mu Other Other Operating Income Expense Net
OtherOtherOperatingIncomeExpenseNet
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CY2021Q1 mu Other Other Operating Income Expense Net
OtherOtherOperatingIncomeExpenseNet
2000000 USD
mu Other Other Operating Income Expense Net
OtherOtherOperatingIncomeExpenseNet
5000000 USD
mu Other Other Operating Income Expense Net
OtherOtherOperatingIncomeExpenseNet
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CY2022Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-70000000 USD
CY2021Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
5000000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2021Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-83000000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2022Q1 mu Other Other Nonoperating Income Expense
OtherOtherNonoperatingIncomeExpense
6000000 USD
CY2021Q1 mu Other Other Nonoperating Income Expense
OtherOtherNonoperatingIncomeExpense
4000000 USD
mu Other Other Nonoperating Income Expense
OtherOtherNonoperatingIncomeExpense
14000000 USD
mu Other Other Nonoperating Income Expense
OtherOtherNonoperatingIncomeExpense
17000000 USD
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6000000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
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4000000 USD
us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
17000000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2509000000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
635000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5030000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1476000000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
255000000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
48000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
474000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
99000000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.102
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.076
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.094
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.067
CY2022Q1 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
304000000 USD
CY2022Q1 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.27
us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
594000000 USD
us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.53
CY2021Q1 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
45000000 USD
CY2021Q1 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.04
us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
101000000 USD
us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.09
CY2022Q1 us-gaap Unrecognized Tax Benefits
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700000000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
2263000000 USD
CY2022Q1 us-gaap Net Income Loss Attributable To Parent Diluted
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2263000000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
603000000 USD
CY2021Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
603000000 USD
us-gaap Net Income Loss
NetIncomeLoss
4569000000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
4569000000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
1406000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1406000000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1120000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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1119000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1118000000 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
11000000 shares
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
24000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
11000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
21000000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1130000000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1144000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1130000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1139000000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
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2.02
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.08
us-gaap Earnings Per Share Basic
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1.26
CY2022Q1 us-gaap Earnings Per Share Diluted
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2.00
CY2021Q1 us-gaap Earnings Per Share Diluted
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0.53
us-gaap Earnings Per Share Diluted
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4.04
us-gaap Earnings Per Share Diluted
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1.23
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2000000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2000000 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000 shares
us-gaap Number Of Reportable Segments
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4 segment
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7786000000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6236000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15473000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12009000000 USD
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2546000000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
663000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
5177000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1529000000 USD

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