Micron Technology, Inc. Reports Results for the Second Quarter of Fiscal 2024

 
MICRON TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
 
As of February 29,
2024
November 30,
2023
August 31,
2023
    
Assets   
Cash and equivalents$8,016 $8,075 $8,577 
Short-term investments 990  973  1,017 
Receivables 4,296  2,943  2,443 
Inventories 8,443  8,276  8,387 
Other current assets 1,690  791  820 
Total current assets 23,435  21,058  21,244 
Long-term marketable investments 627     720     844  
Property, plant, and equipment   37,587     37,677     37,928  
Operating lease right-of-use assets   642     648     666  
Intangible assets   414     416     404  
Deferred tax assets   664     781     756  
Goodwill   1,150     1,150     1,150  
Other noncurrent assets   1,199     1,326     1,262  
Total assets $ 65,718   $ 63,776   $ 64,254  
       
Liabilities and equity      
Accounts payable and accrued expenses $ 4,680   $ 3,946   $ 3,958  
Current debt   344     908     278  
Other current liabilities   1,235     1,108     529  
Total current liabilities   6,259     5,962     4,765  
Long-term debt   13,378     12,597     13,052  
Noncurrent operating lease liabilities   593     601     603  
Noncurrent unearned government incentives   662     705     727  
Other noncurrent liabilities   956     1,026     987  
Total liabilities   21,848     20,891     20,134  
       
Commitments and contingencies      
       
Shareholders’ equity      
Common stock   125     124     124  
Additional capital   11,564     11,217     11,036  
Retained earnings   39,997     39,356     40,824  
Treasury stock   (7,552 )   (7,552 )   (7,552 )
Accumulated other comprehensive income (loss)   (264 )   (260 )   (312 )
Total equity   43,870     42,885     44,120  
Total liabilities and equity $ 65,718   $ 63,776   $ 64,254  



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