2023 Q3 Form 10-K Financial Statement

#000072312523000054 Filed on October 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023
Revenue $4.010B $15.54B
YoY Change -39.64% -49.48%
Cost Of Revenue $4.445B $16.96B
YoY Change 10.54% 0.57%
Gross Profit -$435.0M -$1.416B
YoY Change -116.59% -110.19%
Gross Profit Margin -10.85% -9.11%
Selling, General & Admin $219.0M $920.0M
YoY Change -21.79% -13.7%
% of Gross Profit
Research & Development $719.0M $3.114B
YoY Change -14.3% -0.06%
% of Gross Profit
Depreciation & Amortization $1.937B $7.756B
YoY Change 2.92% 8.99%
% of Gross Profit
Operating Expenses $940.0M $4.034B
YoY Change -14.23% -2.75%
Operating Profit -$1.375B -$5.745B
YoY Change -190.1% -158.92%
Interest Expense -$3.000M $388.0M
YoY Change -133.33% -517.2%
% of Operating Profit
Other Income/Expense, Net $17.00M $7.000M
YoY Change -26.09% -84.44%
Pretax Income -$1.458B $235.0M
YoY Change -193.88% -97.54%
Income Tax -$24.00M $177.0M
% Of Pretax Income 75.32%
Net Earnings -$1.430B -$5.833B
YoY Change -195.84% -167.15%
Net Earnings / Revenue -35.66% -37.54%
Basic Earnings Per Share -$5.34
Diluted Earnings Per Share -$1.30 -$5.34
COMMON SHARES
Basic Shares Outstanding 1.098B shares 1.093B shares
Diluted Shares Outstanding 1.093B shares

Balance Sheet

Concept 2023 Q3 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.594B $9.594B
YoY Change 2.82% 2.82%
Cash & Equivalents $8.577B $8.577B
Short-Term Investments $1.017B $1.017B
Other Short-Term Assets $820.0M $820.0M
YoY Change 24.81% 24.81%
Inventory $8.387B $8.387B
Prepaid Expenses
Receivables $2.048B $2.048B
Other Receivables $201.0M $395.0M
Total Short-Term Assets $21.24B $21.24B
YoY Change -2.47% -2.47%
LONG-TERM ASSETS
Property, Plant & Equipment $38.59B $38.59B
YoY Change -1.61% -1.61%
Goodwill $1.150B
YoY Change -6.35%
Intangibles $404.0M
YoY Change -4.04%
Long-Term Investments $1.062B $1.062B
YoY Change -35.52% -35.52%
Other Assets $1.262B $1.800B
YoY Change -36.23% -9.04%
Total Long-Term Assets $43.01B $43.01B
YoY Change -3.35% -3.35%
TOTAL ASSETS
Total Short-Term Assets $21.24B $21.24B
Total Long-Term Assets $43.01B $43.01B
Total Assets $64.25B $64.25B
YoY Change -3.06% -3.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.039B $2.039B
YoY Change -4.81% -4.81%
Accrued Expenses $433.0M $433.0M
YoY Change -53.79% -53.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $278.0M $278.0M
YoY Change 169.9% 169.9%
Total Short-Term Liabilities $4.765B $4.765B
YoY Change -36.8% -36.8%
LONG-TERM LIABILITIES
Long-Term Debt $13.05B $13.05B
YoY Change 91.86% 91.86%
Other Long-Term Liabilities $987.0M $2.317B
YoY Change -51.47% 13.91%
Total Long-Term Liabilities $987.0M $15.37B
YoY Change -88.83% 73.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.765B $4.765B
Total Long-Term Liabilities $987.0M $15.37B
Total Liabilities $20.13B $20.13B
YoY Change 22.95% 22.95%
SHAREHOLDERS EQUITY
Retained Earnings $40.82B
YoY Change -13.64%
Common Stock $11.16B
YoY Change 8.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $44.12B $44.12B
YoY Change
Total Liabilities & Shareholders Equity $64.25B $64.25B
YoY Change -3.06% -3.06%

Cashflow Statement

Concept 2023 Q3 2023
OPERATING ACTIVITIES
Net Income -$1.430B -$5.833B
YoY Change -195.84% -167.15%
Depreciation, Depletion And Amortization $1.937B $7.756B
YoY Change 2.92% 8.99%
Cash From Operating Activities $249.0M $1.559B
YoY Change -93.41% -89.73%
INVESTING ACTIVITIES
Capital Expenditures $1.461B $7.676B
YoY Change -140.44% -163.61%
Acquisitions
YoY Change
Other Investing Activities $631.0M $93.00M
YoY Change -399.05% -80.71%
Cash From Investing Activities -$830.0M -$6.191B
YoY Change -78.29% -46.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $425.0M
YoY Change -116.62%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -112.0M $4.983B
YoY Change -86.67% -267.21%
NET CHANGE
Cash From Operating Activities 249.0M $1.559B
Cash From Investing Activities -830.0M -$6.191B
Cash From Financing Activities -112.0M $4.983B
Net Change In Cash -693.0M $317.0M
YoY Change -21.87% -48.54%
FREE CASH FLOW
Cash From Operating Activities $249.0M $1.559B
Capital Expenditures $1.461B $7.676B
Free Cash Flow -$1.212B -$6.117B
YoY Change -116.4% -122.45%

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Certain reclassifications have been made to prior period amounts to conform to current period presentation. See “Inventories” below for changes to our significant accounting policies, and the “Inventories” note for additional information.
CY2023 us-gaap Fiscal Period
FiscalPeriod
Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal 2023, 2022, and 2021 each contained 52 weeks. All period references are to our fiscal periods unless otherwise indicated.
CY2022Q3 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
1647000000 usd
CY2022Q3 mu Cash Cash Equivalentsand Availablefor Sale Debt Securities
CashCashEquivalentsandAvailableforSaleDebtSecurities
10978000000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
79000000 usd
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
77000000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8656000000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Use of Estimates</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%">The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures. Estimates and judgments are based on historical experience, forecasted events, and various other assumptions that we believe to be reasonable under the circumstances. Estimates and judgments may differ under different assumptions or conditions. We evaluate our estimates and judgments on an ongoing basis. Actual results could differ from estimates.</span></div>
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8577000000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
1017000000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
844000000 usd
CY2023Q3 mu Cash Cash Equivalentsand Availablefor Sale Debt Securities
CashCashEquivalentsandAvailableforSaleDebtSecurities
10438000000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8262000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
1069000000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8339000000 usd
CY2023 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
7000000 usd
CY2022 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount
36000000 usd
CY2021 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount
70000000 usd
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2048000000 usd
CY2022Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4765000000 usd
CY2023Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
194000000 usd
CY2022Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
251000000 usd
CY2023Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
201000000 usd
CY2022Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
114000000 usd
CY2023Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
2443000000 usd
CY2022Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
5130000000 usd
CY2023Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1616000000 usd
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1028000000 usd
CY2023Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
6111000000 usd
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4830000000 usd
CY2023Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
660000000 usd
CY2022Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
805000000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
8387000000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
6663000000 usd
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
1830000000 usd
CY2023 us-gaap Finite Lived Intangible Assets Period Increase Decrease
FiniteLivedIntangibleAssetsPeriodIncreaseDecrease
87000000 usd
CY2022 us-gaap Finite Lived Intangible Assets Period Increase Decrease
FiniteLivedIntangibleAssetsPeriodIncreaseDecrease
158000000 usd
CY2023Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
87585000000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
81331000000 usd
CY2023Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
49657000000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
42782000000 usd
CY2023Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
37928000000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
38549000000 usd
CY2023 us-gaap Depreciation
Depreciation
7670000000 usd
CY2022 us-gaap Depreciation
Depreciation
7030000000.00 usd
CY2021 us-gaap Depreciation
Depreciation
6130000000 usd
CY2023 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
208000000 usd
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
77000000 usd
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
66000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
613000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
209000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
404000000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
742000000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
321000000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
421000000 usd
CY2021 us-gaap Finite Lived Intangible Assets Period Increase Decrease
FiniteLivedIntangibleAssetsPeriodIncreaseDecrease
106000000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
85000000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
82000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
42000000 usd
CY2023Q3 us-gaap Goodwill
Goodwill
1150000000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
1228000000 usd
CY2023Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
101000000 usd
CY2023Q2 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
23000000 usd
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
105000000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
99000000 usd
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
69000000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24000000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24000000 usd
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
20000000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
137000000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
125000000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
108000000 usd
CY2023 us-gaap Lease Cost
LeaseCost
266000000 usd
CY2022 us-gaap Lease Cost
LeaseCost
248000000 usd
CY2021 us-gaap Lease Cost
LeaseCost
197000000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
219000000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
62000000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
200000000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
77000000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
190000000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
76000000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
185000000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
76000000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
24000000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
23000000 usd
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
21000000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
139000000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
110000000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
106000000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
109000000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
103000000 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
85000000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
508000000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
309000000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
395000000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
57000000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
197000000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
27000000 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1311000000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
904000000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
66000000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
60000000 usd
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P9Y
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P12Y
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0386
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0265
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0321
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0290
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
178000000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
74000000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
506000000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
453000000 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
197000000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
149000000 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1281000000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
669000000 usd
CY2023Q3 mu Lessee Finance Lease Lease Not Yet Commenced Future Payments
LesseeFinanceLeaseLeaseNotYetCommencedFuturePayments
170000000 usd
CY2023Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1725000000 usd
CY2022Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
2142000000 usd
CY2023Q3 mu Property Plant And Equipment Payable Current
PropertyPlantAndEquipmentPayableCurrent
1419000000 usd
CY2022Q3 mu Property Plant And Equipment Payable Current
PropertyPlantAndEquipmentPayableCurrent
2170000000 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
367000000 usd
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
877000000 usd
CY2023Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
67000000 usd
CY2022Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
420000000 usd
CY2023Q3 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
380000000 usd
CY2022Q3 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
481000000 usd
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3958000000 usd
CY2022Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
6090000000 usd
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0386
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1281000000 usd
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
172000000 usd
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1109000000 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1281000000 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
886000000 usd
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
103000000 usd
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
783000000 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
886000000 usd
CY2023Q3 mu Long Term Debt Gross And Finance Lease Liability
LongTermDebtGrossAndFinanceLeaseLiability
13465000000 usd
CY2023Q3 us-gaap Debt Current
DebtCurrent
278000000 usd
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
13052000000 usd
CY2023Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
13330000000 usd
CY2022Q3 mu Long Term Debt Gross And Finance Lease Liability
LongTermDebtGrossAndFinanceLeaseLiability
7024000000 usd
CY2022Q3 us-gaap Debt Current
DebtCurrent
103000000 usd
CY2022Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
6803000000 usd
CY2022Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
6906000000 usd
CY2023 mu Debt Instrument Net Increase Decrease Principal
DebtInstrumentNetIncreaseDecreasePrincipal
6100000000 usd
CY2023 us-gaap Debt Instrument Increase Decrease For Period Net
DebtInstrumentIncreaseDecreaseForPeriodNet
6088000000 usd
CY2023 us-gaap Proceeds From Repayments Of Debt
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6088000000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-83000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
107000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
695000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1659000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1780000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1493000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
6450000000 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
35000000 usd
CY2023Q3 us-gaap Hedged Liability Fair Value Hedge Cumulative Increase Decrease
HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease
-100000000 usd
CY2023Q3 us-gaap Long Term Debt
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12049000000 usd
CY2023Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
6700000000 usd
CY2023Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
1200000000 usd
CY2023Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
1400000000 usd
CY2023Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
1000000000 usd
CY2023Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
1000000000 usd
CY2023Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
700000000 usd
CY2023Q3 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
1400000000 usd
CY2023 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<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:#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 below 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><div><span><br/></span></div><div><span style="color:#000000;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 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 infringed one 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 infringed one 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><br/></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. We are complying with the ruling and have requested the Fuzhou Court to reconsider or stay its decision.</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. (“Netlist”) filed two patent infringement actions against Micron, Micron Semiconductor Products, Inc. (“MSP”), and Micron Technology Texas, LLC (“MTEC”) in the U.S. District Court for the Western District of Texas. The first complaint alleges that one 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 (“LRDIMMs”). Each complaint seeks injunctive relief, damages, attorneys’ fees, and costs. On March 31, 2022, Netlist filed a patent infringement complaint against Micron and Micron Semiconductor Germany, GmbH in Dusseldorf Regional Court alleging that two German patents are infringed by certain of our LRDIMMs. The complaint seeks damages, costs, and injunctive relief. On June 10, 2022, Netlist filed a patent infringement complaint against Micron, MSP, and MTEC in the U.S. District Court for the Eastern District of Texas (“E.D. Tex.”) alleging that six U.S. patents are infringed by certain of our memory modules and HBM products. On August 1, 2022, Netlist filed a second patent infringement complaint against the same defendants in E.D. Tex. alleging that one U.S. patent is infringed by certain of our LRDIMMs. On August 15, 2022, Netlist amended the second complaint to assert that two additional U.S. patents are infringed by certain of our LRDIMMs. The complaints in E.D. Tex. seek injunctive relief, damages, and attorneys’ fees.</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 August 16, 2022, Sonrai Memory Ltd. filed a patent infringement action against Micron in the U.S. District Court for the Western District of Texas. The complaint alleges that two U.S. patents are infringed by certain SSD and NAND flash products. The complaint seeks 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 January 23, 2023, Besang Inc. filed a patent infringement complaint against Micron in the U.S. District Court for the Eastern District of Texas. The complaint alleges that one U.S. patent is infringed by certain of our 3D NAND and SSD products. The complaint seeks an injunction, 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:#000000;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 sought 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 sought an order requiring us to re-transfer those shares to the Qimonda estate. The complaint also sought, 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, was able to continue to operate with full control of the Inotera Shares subject to further developments in the case. Micron and Micron B.V. appealed the judgments to the German Appeals Court, which 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 March 31, 2020, the expert presented an opinion to the Appeals Court concluding that the amount paid by Micron was within an acceptable range of fair value. On October 5, 2022, the Appeals Court ruled that the relevant issue to be addressed is whether Qimonda's creditors were prejudiced such that the original transaction should be voided. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 9, 2023, Micron and Dr. Jaffé reached an agreement to dismiss the case in exchange for a one-time payment by Micron to the Qimonda estate and a waiver of each party’s claims. The agreement was formally entered by the Appeals Court in July 2023 and the case was dismissed. </span></div><div><span><br/></span></div><div><span style="color:#000000;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%">Six cases have been filed against Micron alleging price fixing of DRAM products 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.</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:#000000;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 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:#000000;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%">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:#000000;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="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We ar</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">e unable to predict the outcome of any 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>
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CY2023 ecd Trd Arr Ind Name
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Sanjay Mehrotra
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May 8, 2025

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