|
MICRON TECHNOLOGY, INC.
RECONCILIATION OF GAAP TO NON-GAAP MEASURES (In millions, except per share amounts) | |||||||||
| 1st Qtr. | 4th Qtr. | 1st Qtr. | |||||||
|
November 28,
2024 |
August 29,
2024 |
November 30,
2023 | |||||||
| GAAP gross margin | $ | 3,348 | $ | 2,737 | $ | (35 | ) | ||
| Stock-based compensation | 90 | 85 | 67 | ||||||
| Other | 3 | 4 | 5 | ||||||
| Non-GAAP gross margin | $ | 3,441 | $ | 2,826 | $ | 37 | |||
| GAAP operating expenses | $ | 1,174 | $ | 1,215 | $ | 1,093 | |||
| Stock-based compensation | (127 | ) | (128 | ) | (115 | ) | |||
| Other | — | (6 | ) | 14 | |||||
| Non-GAAP operating expenses | $ | 1,047 | $ | 1,081 | $ | 992 | |||
| GAAP operating income (loss) | $ | 2,174 | $ | 1,522 | $ | (1,128 | ) | ||
| Stock-based compensation | 217 | 213 | 182 | ||||||
| Other | 3 | 10 | (9 | ) | |||||
| Non-GAAP operating income (loss) | $ | 2,394 | $ | 1,745 | $ | (955 | ) | ||
| GAAP net income (loss) | $ | 1,870 | $ | 887 | $ | (1,234 | ) | ||
| Stock-based compensation | 217 | 213 | 182 | ||||||
| Other | — | 6 | (10 | ) | |||||
| Estimated tax effects of above and other tax adjustments | (50 | ) | 236 | 14 | |||||
| Non-GAAP net income (loss) | $ | 2,037 | $ | 1,342 | $ | (1,048 | ) | ||
| GAAP weighted-average common shares outstanding - Diluted | 1,122 | 1,125 | 1,100 | ||||||
| Adjustment for stock-based compensation | 16 | 12 | — | ||||||
| Non-GAAP weighted-average common shares outstanding - Diluted | 1,138 | 1,137 | 1,100 | ||||||
| GAAP diluted earnings (loss) per share | $ | 1.67 | $ | 0.79 | $ | (1.12 | ) | ||
| Effects of the above adjustments | 0.12 | 0.39 | 0.17 | ||||||
| Non-GAAP diluted earnings (loss) per share | $ | 1.79 | $ | 1.18 | $ | (0.95 | ) | ||
