| MICRON TECHNOLOGY, INC. | ||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||
| (In millions) | ||||||
| (Unaudited) | ||||||
| Three months ended |
November 30,
2023 |
December 1,
2022 | ||||
| Cash flows from operating activities | ||||||
| Net income (loss) | $ | (1,234 | ) | $ | (195 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
| Depreciation expense and amortization of intangible assets | 1,915 | 1,921 | ||||
| Stock-based compensation | 188 | 146 | ||||
| Change in operating assets and liabilities: | ||||||
| Receivables | (501 | ) | 1,842 | |||
| Inventories | 111 | (1,697 | ) | |||
| Accounts payable and accrued expenses | 271 | (630 | ) | |||
| Other current liabilities | 579 | (430 | ) | |||
| Other | 72 | (14 | ) | |||
| Net cash provided by operating activities | 1,401 | 943 | ||||
| Cash flows from investing activities | ||||||
| Expenditures for property, plant, and equipment | (1,796 | ) | (2,449 | ) | ||
| Purchases of available-for-sale securities | (199 | ) | (90 | ) | ||
| Proceeds from maturities and sales of available-for-sale securities | 374 | 362 | ||||
| Proceeds from government incentives | 85 | 2 | ||||
| Other | (22 | ) | (91 | ) | ||
| Net cash provided by (used for) investing activities | (1,558 | ) | (2,266 | ) | ||
| Cash flows from financing activities | ||||||
| Payments of dividends to shareholders | (129 | ) | (126 | ) | ||
| Payments on equipment purchase contracts | (56 | ) | (47 | ) | ||
| Repayments of debt | (53 | ) | (20 | ) | ||
| Repurchases of common stock - repurchase program | — | (425 | ) | |||
| Proceeds from issuance of debt | — | 3,349 | ||||
| Other | (114 | ) | (99 | ) | ||
| Net cash provided by (used for) financing activities | (352 | ) | 2,632 | |||
| Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | (1 | ) | (6 | ) | ||
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (510 | ) | 1,303 | |||
| Cash, cash equivalents, and restricted cash at beginning of period | 8,656 | 8,339 | ||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 8,146 | $ | 9,642 | ||
