|
MICRON TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) | ||||||
| For the year ended |
August 29,
2024 |
August 31,
2023 | ||||
| Cash flows from operating activities | ||||||
| Net income (loss) | $ | 778 | $ | (5,833 | ) | |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
| Depreciation expense and amortization of intangible assets | 7,780 | 7,756 | ||||
| Stock-based compensation | 833 | 596 | ||||
| Provision to write down inventories to net realizable value | — | 1,831 | ||||
| Goodwill impairment | — | 101 | ||||
| Change in operating assets and liabilities: | ||||||
| Receivables | (3,581 | ) | 2,763 | |||
| Inventories | (488 | ) | (3,555 | ) | ||
| Accounts payable and accrued expenses | 1,915 | (1,302 | ) | |||
| Other current liabilities | 989 | (817 | ) | |||
| Other | 281 | 19 | ||||
| Net cash provided by operating activities | 8,507 | 1,559 | ||||
| Cash flows from investing activities | ||||||
| Expenditures for property, plant, and equipment | (8,386 | ) | (7,676 | ) | ||
| Purchases of available-for-sale securities | (1,999 | ) | (723 | ) | ||
| Proceeds from maturities and sales of available-for-sale securities | 1,794 | 1,591 | ||||
| Proceeds from government incentives | 315 | 710 | ||||
| Other | (33 | ) | (93 | ) | ||
| Net cash provided by (used for) investing activities | (8,309 | ) | (6,191 | ) | ||
| Cash flows from financing activities | ||||||
| Repayments of debt | (1,897 | ) | (761 | ) | ||
| Payments of dividends to shareholders | (513 | ) | (504 | ) | ||
| Repurchases of common stock - repurchase program | (300 | ) | (425 | ) | ||
| Payments on equipment purchase contracts | (149 | ) | (138 | ) | ||
| Proceeds from issuance of debt | 999 | 6,716 | ||||
| Other | 18 | 95 | ||||
| Net cash provided by (used for) financing activities | (1,842 | ) | 4,983 | |||
| Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | 40 | (34 | ) | |||
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (1,604 | ) | 317 | |||
| Cash, cash equivalents, and restricted cash at beginning of period | 8,656 | 8,339 | ||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 7,052 | $ | 8,656 | ||
