- Stock-based compensation;
- Employee severance;
- Gains and losses from settlements;
- Restructure and asset impairments;
- Goodwill impairment;
- Gains and losses from debt repurchases and conversions; 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 (loss).
MICRON TECHNOLOGY, INC.
RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK
| FQ1-24 | GAAP Outlook | Adjustments | Non-GAAP Outlook | |||||
| Revenue | $4.40 billion ± $200 million | — | $4.40 billion ± $200 million | |||||
| Gross margin | (6.0%) ± 2.0% | 2.0 | % | A | (4.0%) ± 2.0% | |||
| Operating expenses | $1.01 billion ± $15 million | $113 million | B | $900 million ± $15 million | ||||
| Diluted earnings (loss) per share(1) | ($1.24) ± $0.07 | $0.17 | A, B, C | ($1.07) ± $0.07 | ||||
|
Non-GAAP Adjustments
(in millions) | |||||||||
| A | Stock-based compensation – cost of goods sold | $ | 66 | ||||||
| A | Other – cost of goods sold | 4 | |||||||
| B | Stock-based compensation – research and development | 69 | |||||||
| B | Stock-based compensation – sales, general, and administrative | 44 | |||||||
| C | Tax effects of the above items and other tax adjustments | (1 | ) | ||||||
| $ | 182 | ||||||||
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