- Stock-based compensation;
- Flow-through of business acquisition-related inventory adjustments;
- Acquisition-related costs;
- Employee severance;
- Gains and losses from settlements and patent license charges;
- Restructure and asset impairments;
- Amortization of debt discount and other costs;
- Gains and losses from debt repurchases and conversions;
- Gains and losses from business acquisition activities; and
- The estimated tax effects of above, non-cash changes in net deferred income taxes, assessments of tax exposures, certain tax matters related to prior fiscal periods, and significant changes in tax law.
Non-GAAP diluted shares are adjusted for the impact of additional shares resulting from the exclusion of stock-based compensation from non-GAAP income.
MICRON TECHNOLOGY, INC.
RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK
| FQ4-22 | GAAP Outlook | Adjustments | Non-GAAP Outlook | |||||
| Revenue | $7.2 billion ± $400 million | — | $7.2 billion ± $400 million | |||||
| Gross margin | 41.5% ± 1.5% | 1% | A | 42.5% ± 1.5% | ||||
| Operating expenses | $1.13 billion ± $25 million | $83 million | B | $1.05 billion ± $25 million | ||||
| Diluted earnings per share(1) | $1.52 ± $0.20 | $0.11 | A, B, C | $1.63 ± $0.20 | ||||
|
Non-GAAP Adjustments
(in millions) | |||||||||
| A | Stock-based compensation – cost of goods sold | $ | 45 | ||||||
| A | Other – cost of goods sold | 4 | |||||||
| B | Stock-based compensation – research and development | 48 | |||||||
| B | Stock-based compensation – sales, general, and administrative | 35 | |||||||
| C | Tax effects of the above items and other tax adjustments | (9 | ) | ||||||
| $ | 123 | ||||||||
