Micron Technology, Inc. Reports Results for the First Quarter of Fiscal 2023

MICRON TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)

As of December 1,
2022
September 1,
2022
   
Assets  
Cash and equivalents$9,574 $8,262 
Short-term investments 1,007  1,069 
Receivables 3,318  5,130 
Inventories 8,359  6,663 
Other current assets 663  657 
Total current assets 22,921  21,781 
Long-term marketable investments 1,426  1,647 
Property, plant, and equipment 39,335  38,549 
Operating lease right-of-use assets 693  678 
Intangible assets 428  421 
Deferred tax assets 672  702 
Goodwill   1,228     1,228  
Other noncurrent assets   1,171     1,277  
Total assets $ 67,874   $ 66,283  
     
Liabilities and equity    
Accounts payable and accrued expenses $ 5,438   $ 6,090  
Current debt   171     103  
Other current liabilities   916     1,346  
Total current liabilities   6,525     7,539  
Long-term debt   10,094     6,803  
Noncurrent operating lease liabilities   625     610  
Noncurrent unearned government incentives   516     589  
Other noncurrent liabilities   808     835  
Total liabilities   18,568     16,376  
     
Commitments and contingencies    
     
Shareholders’ equity    
Common stock   123     123  
Additional capital   10,335     10,197  
Retained earnings   46,873     47,274  
Treasury stock   (7,552 )   (7,127 )
Accumulated other comprehensive income (loss)   (473 )   (560 )
Total equity   49,306     49,907  
Total liabilities and equity $ 67,874   $ 66,283  
             

MICRON TECHNOLOGY, INC.

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