| MICRON TECHNOLOGY, INC. | ||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||
| (In millions) | ||||||
| (Unaudited) | ||||||
| Six months ended |
February 29,
2024 |
March 2,
2023 | ||||
| Cash flows from operating activities | ||||||
| Net income (loss) | $ | (441 | ) | $ | (2,507 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
| Depreciation expense and amortization of intangible assets | 3,839 | 3,863 | ||||
| Stock-based compensation | 401 | 303 | ||||
| Provision to write-down inventories to net realizable value | — | 1,430 | ||||
| Change in operating assets and liabilities: | ||||||
| Receivables | (1,759 | ) | 2,910 | |||
| Inventories | (57 | ) | (2,896 | ) | ||
| Other current assets | (799 | ) | 4 | |||
| Accounts payable and accrued expenses | 573 | (1,144 | ) | |||
| Other current liabilities | 706 | (638 | ) | |||
| Other | 157 | (39 | ) | |||
| Net cash provided by operating activities | 2,620 | 1,286 | ||||
| Cash flows from investing activities | ||||||
| Expenditures for property, plant, and equipment | (3,180 | ) | (4,654 | ) | ||
| Purchases of available-for-sale securities | (465 | ) | (293 | ) | ||
| Proceeds from maturities and sales of available-for-sale securities | 726 | 773 | ||||
| Proceeds from government incentives | 234 | 64 | ||||
| Other | (24 | ) | (71 | ) | ||
| Net cash provided by (used for) investing activities | (2,709 | ) | (4,181 | ) | ||
| Cash flows from financing activities | ||||||
| Repayments of debt | (1,101 | ) | (53 | ) | ||
| Payments of dividends to shareholders | (256 | ) | (252 | ) | ||
| Payments on equipment purchase contracts | (82 | ) | (76 | ) | ||
| Repurchases of common stock - repurchase program | — | (425 | ) | |||
| Proceeds from issuance of debt | 999 | 5,221 | ||||
| Other | (18 | ) | 19 | |||
| Net cash provided by (used for) financing activities | (458 | ) | 4,434 | |||
| Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | (8 | ) | 9 | |||
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (555 | ) | 1,548 | |||
| Cash, cash equivalents, and restricted cash at beginning of period | 8,656 | 8,339 | ||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 8,101 | $ | 9,887 | ||
