|
MICRON TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) | ||||||
| Nine months ended |
May 30,
2024 |
June 1,
2023 | ||||
| Cash flows from operating activities | ||||||
| Net income (loss) | $ | (109 | ) | $ | (4,403 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
| Depreciation expense and amortization of intangible assets | 5,794 | 5,819 | ||||
| Stock-based compensation | 620 | 448 | ||||
| Provision to write-down inventories to net realizable value | — | 1,831 | ||||
| Change in operating assets and liabilities: | ||||||
| Receivables | (2,562 | ) | 2,728 | |||
| Inventories | (125 | ) | (3,406 | ) | ||
| Other current assets | (435 | ) | (35 | ) | ||
| Accounts payable and accrued expenses | 846 | (1,113 | ) | |||
| Other current liabilities | 769 | (677 | ) | |||
| Other | 304 | 118 | ||||
| Net cash provided by operating activities | 5,102 | 1,310 | ||||
| Cash flows from investing activities | ||||||
| Expenditures for property, plant, and equipment | (5,266 | ) | (6,215 | ) | ||
| Purchases of available-for-sale securities | (1,110 | ) | (496 | ) | ||
| Proceeds from maturities and sales of available-for-sale securities | 1,433 | 1,192 | ||||
| Proceeds from government incentives | 267 | 248 | ||||
| Other | (35 | ) | (90 | ) | ||
| Net cash provided by (used for) investing activities | (4,711 | ) | (5,361 | ) | ||
| Cash flows from financing activities | ||||||
| Repayments of debt | (1,816 | ) | (706 | ) | ||
| Payments of dividends to shareholders | (384 | ) | (378 | ) | ||
| Payments on equipment purchase contracts | (127 | ) | (112 | ) | ||
| Repurchases of common stock - repurchase program | — | (425 | ) | |||
| Proceeds from issuance of debt | 999 | 6,716 | ||||
| Other | (40 | ) | — | |||
| Net cash provided by (used for) financing activities | (1,368 | ) | 5,095 | |||
| Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | (15 | ) | (13 | ) | ||
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (992 | ) | 1,031 | |||
| Cash, cash equivalents, and restricted cash at beginning of period | 8,656 | 8,339 | ||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 7,664 | $ | 9,370 | ||
