Micron Technology, Inc. Reports Results for the Fourth Quarter and Full Year of Fiscal 2023

CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)

As of August 31,
2023
June 1,
2023
September 1,
2022
    
Assets   
Cash and equivalents$8,577 $9,298 $8,262 
Short-term investments 1,017  1,054  1,069 
Receivables 2,443  2,429  5,130 
Inventories 8,387  8,238  6,663 
Other current assets 820  715  657 
Total current assets 21,244  21,734  21,781 
Long-term marketable investments 844  973   1,647  
Property, plant, and equipment   37,928     38,727     38,549  
Operating lease right-of-use assets   666     655     678  
Intangible assets   404     410     421  
Deferred tax assets   756     708     702  
Goodwill   1,150     1,252     1,228  
Other noncurrent assets   1,262     1,221     1,277  
Total assets $ 64,254   $ 65,680   $ 66,283  
       
Liabilities and equity      
Accounts payable and accrued expenses $ 3,958   $ 4,177   $ 6,090  
Current debt   278     259     103  
Other current liabilities   529     668     1,346  
Total current liabilities   4,765     5,104     7,539  
Long-term debt   13,052     12,986     6,803  
Noncurrent operating lease liabilities   603     603     610  
Noncurrent unearned government incentives   727     632     589  
Other noncurrent liabilities   987     950     835  
Total liabilities   20,134     20,275     16,376  
       
Commitments and contingencies      
       
Shareholders’ equity      
Common stock   124     124     123  
Additional capital   11,036     10,782     10,197  
Retained earnings   40,824     42,391     47,274  
Treasury stock   (7,552 )   (7,552 )   (7,127 )
Accumulated other comprehensive income (loss)   (312 )   (340 )   (560 )
Total equity   44,120     45,405     49,907  
Total liabilities and equity $ 64,254   $ 65,680   $ 66,283  
       

MICRON TECHNOLOGY, INC.

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